Indus Energy NL : Company Update

STREET ADDRESS

Unit 17, Level 2

100 Railway Road Subiaco, Western Australia 6008

ASX Announcement 10 September 2015 COMPANY UPDATE POSTAL ADDRESS

PO Box 8129

Subiaco East 6008

CONTACT DETAILS Tel: [phone] Fax: [phone] [e-mail] www.indusenergy.com.au BOARD & MANAGEMENT Mr John (Gus) Simpson

Non-Executive Chairman

Mr Anthony Milewski

Managing Director

The

Mr Jonathan Whyte

Non-Executive Director and Company Secretary

Mr Ken Bull

Chief Operating Officer

ABN

22 009 171 046

ASX CODE

IND

As previously advised, Indus Energy NL (Indus or Company) has conducted due diligence in relation to the term sheet entered into with Keyano Pimee Exploration Company Limited (KPECL) in November
2014, which contemplated the farm in by Indus to oil sands properties located in the Cold Lake region of Alberta, Canada (Term Sheet).
Negotiations were initially focused on finalising a Joint Operating Agreement which would enable the first phase of operations to commence. However, the due diligence process identified material uncertainty with regard to the conditions precedent in the term sheet. In light of this, agreement on a path forward has not been reached and both parties have decided to terminate the agreement contemplated by the Term Sheet.
As outlined in our last announcement the Board has been actively reviewing several other acquisition opportunities in both the oil and gas and other sectors.
While this process is ongoing the Company has preserved its strong cash position and reduced all corporate and other overheads to a minimum. This policy will be maintained until such point as the Company is fully engaged in operational activity. Indus will provide a further updates as and when these are materially progressed.
For further information please contact our office on [phone]. Yours Sincerely

Anthony Milewski

Managing Director

www.indusenergy.com.au