23rd November 2011

MIGAS have approved the transfer of a 47.5% participating interest in the Biliton PSC from Mitra Energy Biliton Pte. Ltd., a wholly owned subsidiary of Mitra Energy Limited, to Geopetrol Biliton Corp.. Mitra Energy Biliton Pte. Ltd. retains the operatorship of the PSC.

Following the completion of the transfer, the composition of the participating interests in the Biliton PSC will be as follows:

	Interest Percentage (%)
Company	Before	After
Mitra Energy Biliton Pte. Ltd. (operator)	95	47.5
PT Mitra Energy Development	5	5
Geopetrol Biliton Corp.	-	47.5

The second relinquishment of the Biliton PSC area was approved by MIGAS on 6th September 2011. The remaining PSC area after the second relinquishment is 1,302.10 km².

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