ASX Codes: BSP, BSPO

Interim Finance Secured

ASX Release

9th May 2014

BLACK STAR PETROLEUM Level 1

330 Churchill Avenue, Subiaco

Western Australia 6008

Tel: +61 8 9200 4493

Fax: +61 8 9200 4469

Contact Matthew Wood Executive Chairman

E-mail info@blackstarpetroleum.com.au
For the latest news www.blackstarpetroleum.com.au

Directors / Officers Matthew Wood - Executive Chairman Greg Wood - Chief Executive Officer Brian McMaster - Executive Director Tony Polglase - Non Executive Director

Issued Capital

114.1 million shares

95.3 million listed options

ASX Codes: BSP, BSPO

Black Star Petroleum Limited (BSP) is pleased to announce that it has secured an interim finance facility from Avonglade Enterprises Pty Ltd which has made available the sum of $600,000.
The funds have been utilised to satisfy the final capital payment to ac- quire BSP's lease interests in Banner County Nebraska and for working capital purposes.
The salient terms of the facility are:

• Amount borrowed: AUD 600,000

• Fees: Nil

• Repayment date: 31 August 2014;

• Interest: a flat cash rate of 10% for the term to be capitalised into the loan on a monthly plus 4 shares for each dollar borrowed (total 2,400,000 shares), subject to shareholder approval.

Funding for planned development programmes is currently being nego- tiated and BSP will update the market in due course as those discussions conclude.

ABoUT BLACk STAR

Black Star is focused on developing the Niobrara and Codell forma- tions into a growing cashflow positive production asset. Black Star has a

73.07% working interest in approximately 10,000 acres in Banner County, Nebraska USA under a Joint Venture with Bayswater Exploration. The Ne- braska oil Project represents outstanding potential for growth through both vertical and horizontal fracture stimulated wells.

Greg Wood

Chief Executive officer

BLACk STAR PETRoLEUM LIMITED

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