EDEO options held for every Tasman share issued.

Based on the last traded prices on the ASX of EDE ($0.19) and EDEO ($0.16) on 22/6/16, this investment had a market value of $107 million, which is equivalent to 29.0 cents for every currently issued TAS share.

Aaron Gates Company Secretary

Level 15, 197 St George's Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866

Email: [email protected]

ACN 109 200 900

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

23 June 2016

EDEN'S CNT IN PLASTICS

RESEARCH SHOWS ENCOURAGING PRELIMINARY RESULTS

The 2014 collaborative research project, partially funded by the Australian Research Council ("ARC") (to the extent of A$255,000), that Eden Energy Ltd ('Eden") (ASX:EDE) and the University of Queensland have been undertaking into carbon nanotubes in plastics, has achieved very encouraging preliminary results.

The following conclusions, along with full details of the actual results achieved to date with Eden's new product (EdenPlastTM), including comparisons with the published performance of other commercial Nylon 6 products, are shown in Figure 1 below.

• Excellent combination of high modulus (stiffness) and outstanding ductility (elongation-at-break) achieved for Nylon containing .

• Superior ductility with comparable tensile strength (> 75 MPa, 50% Relative Humidity ("RH") conditions) compared to super-tough commercial Nylons containing higher levels (4wt%) of nanoclays.

• Higher tensile strength than comparable Nylon based materials with similar ductility.

• Excellent dispersion of the Eden's CNTs in EdenPlastTM (see the two TEM micrographs in Figure 2 below).

• Visual clarity and transparency suggests suitability for a super-tough-film grade.

• The relatively low-cost processing method of EdenPlastTM could potentially result in production of cost-effective, high-stiffness and/or high-toughness grades of nano Nylon 6.

• Possible suitable future markets for EdenPlastTM, indicated by the results to date, are the automotive and packaging markets.

• Whilst fundamental studies (XRD, rheology, thermal and electrical analysis) and further standard characterization (ASTM, ISO) need to be carried out (impact, flexural, tensile, dynamical, fatigue) before possible commercialisation, these preliminary results from extruded filaments are considered very encouraging.