Name of entity

CAULDRON ENERGY LIMITED

ABN

22 102 912 783

1

+Class of +securities issued or to be issued

Fully paid ordinary shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

3,000,000

3

Principal terms of the

+securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

+convertible securities, the conversion price and dates for conversion)

Fully paid ordinary shares

4

Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes

5

Issue price or consideration

$0.138 per share for total $414,000

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Exercise of options

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

Yes

6b

The date the security holder resolution under rule 7.1A was passed

9 November 2015

6c

Number of +securities issued without security holder approval under rule 7.1

Nil

6d

Number of +securities issued with security holder approval under rule 7.1A

Nil

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

16,949,178 shares - 9 November 2015

3,000,000 shares - 30 September 2014

6f

Number of securities issued under an exception in rule 7.2

Nil

6g

If securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the issue date and both values. Include the source of the VWAP calculation.

N/A

6h

If securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

N/A

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

7.1 - 40,658,017

7.1A - 27,105,344

7

Dates of entering +securities into uncertificated holdings or despatch of certificates

30 December 2015

Number

+Class

8

Number and +class of all

+securities quoted on ASX (including the securities in section 2 if applicable)

271,053,444

ORD

Number

+Class

13,975,000

1,225,000

24,000,000

24,000,000

Unlisted Options exercisable at $0.138 on or before 31 December 2015

Unlisted Options exercisable at $0.138 on or before 31 December 2015

Unlisted Options exercisable at $0.118 on or before 31 December 2015

Unlisted Options exercisable at $0.138 on or before 31 December 2016

11

Is security holder approval required?

12

Is the issue renounceable or non- renounceable?

13

Ratio in which the +securities will be offered

14

+Class of +securities to which the offer relates

15

+Record date to determine entitlements

16

Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

17

Policy for deciding entitlements in relation to fractions