18 May 2016

ASX Limited Exchange Centre 20 Bridge Street

SYDNEY NSW 2000

Dear Sirs

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

Level 10

60 Waymouth Street

Adelaide SA 5000

Australia

GPO Box 1819

Adelaide SA 5001

Tel (Aust.): +61 8 8100 4900

Fax (Aust.): +61 8 8100 4997

[email protected] www.cooperenergy.com.au

This notice is given by Cooper Energy Limited (ABN 93 096 170 295) (ASX: COE) (Cooper Energy) under section 708A5(e) of the Corporations Act 2001 (Cth) (Corporations Act).

Cooper Energy has today issued 83,436,816 fully paid ordinary shares at a price of $0.22 per share to raise approximately $18.4 million under a placement to qualified institutional and sophisticated investors in Australia and internationally (Placement), as outlined in Cooper Energy's announcement to the ASX on 11 May 2016.

Cooper Energy advises that:

1. the shares under the Placement have been issued without disclosure to investors under Part 6D.2 of the Corporations Act;

2. this notice is being given under section 708A(5)(e) of the Corporations Act;

3. as at the date of this notice, Cooper Energy has complied with:

4. the provisions of Chapter 2M of the Corporations Act as they apply to Cooper Energy; and

5. section 674 of the Corporations Act; and

6. as at the date of this notice, there is no 'excluded information' of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed by Cooper Energy under section 708A(6)(e) of the Corporations Act.

7. For completeness, further to disclosure in the 'Capital Raising' investor presentation dated 10 May 2016, Cooper Energy advises the status of the Indonesian production assets divestment has progressed from the receipt of bids (as disclosed in the presentation) to the negotiation of the sales agreement. The negotiations are incomplete and accordingly agreement on terms is yet to be finalised. On the basis of bids received it appears likely that the sale proceeds will represent a loss against carrying value that is not material.

   Yours sincerely

   Alison Evans Company Secretary