March Market Announcements Office ASX Limited Lapse of

							2 March 2012


Market Announcements Office
ASX Limited


Lapse of Options


New Guinea Energy Ltd (NGE) notes the lapse on 1 March 2012 of 12,000,000 Options C.
NGE’s capital structure is now as follows:

Fully Paid Ordinary Shares:

846,541,193      Listed
  3,450,000      Unlisted Employee Incentive Plan Shares

Options:

 2,000,000       Options D         exercisable        @ $0.25     before 28 December 2012
 3,000,000       Options E         exercisable        @ $0.25     before 27 December 2012
61,700,000       Options G         exercisable        @ $0.45     before 1 October 2014
 2,500,000       Options I         exercisable        @ $0.45     before 27 July 2014
   400,000       Options J         exercisable        @ $0.45     before 7 February 2016

Rights:

15,000,000       exercisable from 1 July 2012 at nil consideration expiring on 1
                 October 2014

Convertible Bonds:

A$20.5 million in principal of Convertible Equity Bonds redeemable at $0.20 with a five year
term and maturing on 30 May 2016.

Should you have any queries please contact either Gillian Nairn or Lucy Rowe on 02 9252
0010.



Lucy Rowe
Company Secretary




                                        New Guinea Energy Ltd
                                          ABN 31 112 618 238

      Suite 401, Level 4, 2-10 Loftus Street, Sydney NSW 2000 T +61 2 9252 0010 ι F:+61 2 9252 0039
        PO Box 592 Port Moresby, NCD, Papua New Guinea T: (675) 321 1785 ι F: (675) 321 1782
                                              www.ngenergy.com.au