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ASX CODE DTE ABN 21 122 588 505 dartenergy.com.au

7 February 2012

DART INCREASES INTERNATIONAL RESERVES BY 40% AND CONTINGENT RESOURCES BY 400%

AS ON-GOING WORK PROGRAM LEADS TO RESERVES MATURATION

Dart Energy Limited (Dart or the Company) (ASX: DTE) has received updated coal bed methane (CBM)
reserves and resources estimate for its international asset portfolio from independent reserves evaluators.

The updates were commissioned as part of the ongoing strategic restructuring process for Dart’s
international portfolio, and cover all Dart international CBM assets, including reserves and resources that will
be attributed to Dart on completion of the recently announced BG Group and Greenpark transactions.

The updates indicate material increases in CBM reserves and contingent resources across Dart’s
international portfolio, reflecting the outcomes primarily of the 2011 work programs, as follows:

(1) The net estimates for reserves and resources include reduction for shrinkage due to system use gas.
(2) The Dart estimates of Contingent and OGIP includes 50% interest in various UK licences that will be transferred from BG Group
following approval from the UK Department of Energy and Climate Change (DECC).

The above estimates do not include assets of Dart Energy in Australia, and relate only to the assets of
Dart Energy International. Dart Energy’s Australian assets were previously independently assessed in May
2011. A consolidated table of Dart Energy reserves and resources, including Australia, is set out in the
Appendix to this announcement.
The above estimates also do not include shale gas potential of Dart’s international assets, for which a
discreet independent evaluation is currently underway.
Commenting on the results of the updated reserves and resource assessment, Dart International CEO, John
McGoldrick, said:

“Since recently starting with Dart Energy International, I have been impressed by the calibre of our asset
portfolio and the capability of our team. The hallmark of any successful E&P business is the ability to execute
work programs and in so doing, mature the resource base: taking a large gas-in-place resource and
progressively migrating it into the higher and much more valuable category of contingent resource, and
thereafter into commercially saleable reserves. The updated assessments show this process is working well
at Dart, and we continue moving towards achieving our core objective of first revenues from sales production
in 2012 and into 2013”.

EXPLANATORY NOTES:

Highlights

• 400%+ growth in the contingent resource estimate. The contingent resource category can only be
assessed under SPE rules if not only is the gas present, but potentially commercially recoverable. Dart
Energy International now has a total of 3.3 TCF of net 2C contingent resource and 8.8 TCF of net 3C
contingent resource, which is substantial, and reflects the resource maturation process working well –
the declines in prospective resource and OGIP to a large extent reflect reclassification into Contingent
Resource. Focus will continue on now migrating the contingent resource into reserves as the portfolio
work program continues.

• Commercial reserves confirmed in three countries. Reserves have been estimated at the projects in
Liulin in China, Sangatta West in Indonesia, Airth in Scotland and at a fourth project, Canonbie (also in
Scotland) that will transfer to Dart on completion of the Greenpark transaction. All of these project areas
have near term sales gas potential, and the assessed reserves underpin ongoing investment in
development at these projects during 2012. Dart expects during 2012 it will be in a position to add further
reserves in the UK and India, with potential for additional reserves at other projects in Poland and
Indonesia as well.

• Maiden Reserves in Indonesia. 38 BCF of 3P reserve was assigned at the Sangatta West project in
East Kalimantan, Indonesia. In addition to being Dart Energy’s maiden reserves in Indonesia, the
company understands this to be amongst the first CBM reserves ever assessed in Indonesia. Dart and
its partner in Sangatta West, Ephindo, are proud of this market leading achievement in Indonesia.

• Technical De-risking. In 2011, Dart successfully undertook drilling operations in Australia, China, India,
Indonesia, the UK and Poland. The information collected from these 35 exploration and appraisal
production wells has significantly contributed to the technical de-risking of many project areas across all
countries of operation.

• Value of Dart’s portfolio approach to its business. Growth in reserve and resource has been
achieved from Dart’s international portfolio as a whole notwithstanding the fact that the new
assessments almost completely exclude some individual licences that were large contributors to the
company’s prior OGIP and prospective resource estimations – in particular the Dajing licence in China.

• Conventional oil potential. Drilling results at PEDL178 (Luddington) in the UK also indicate the
potential for conventional oil. This was independently assessed as Oil in Place of 6.3 million and 17
million barrels as best and high estimates respectively, of which 0.7 million and 2.5 million barrels were
assessed as being recoverable Prospective Oil Resources as best and high estimates respectively. The
prospect, while relatively small, is coincident with the CBM resources and may be developed in parallel,
enhancing the potential project economics.
Independent Evaluators

Netherland Sewell & Associates, Inc (NSAI) - evaluator in relation to all assets other than the Liulin project in
China.

MHA Petroleum Consultants LLC (MHA) - evaluator in relation to the Liulin project in China.

Both NSAI and MHA are leading, recognised independent petroleum evaluators with substantial international
experience. Both NSAI and MHA conducted their assessment in accordance with the classification
guidelines set out in the Society of Petroleum Engineers’ Petroleum Resource Management System (SPE
PRMS).

ENDS

For and on behalf of the Board

Paul Marshall, Company Secretary

For further information contact:

Mr Nick Davies Executive Chairman Tel: +65 6508 9840
Mr John McGoldrick CEO, Dart International Tel: +65 6508 9840
Mr Nathan Rayner Chief Operating Officer Tel: +65 6508 9840

Media Inquiries to:

Ian Howarth Collins Street Media Tel: +61 3 9223 2465

The resource estimates used in this announcement were, where indicated, compiled by John Hattner of
Netherland, Sewell & Associated, Inc., and Tim Hower of MHA Petroleum Consultants LLC and are
consistent with the definitions of proved, probable, and possible hydrocarbon reserves and resources that
appear in the Australian Stock Exchange (ASX) Listing Rules. Mr Hattner and Mr Hower are qualified in
accordance with the requirements of ASX listing rule 5.11 and have consented to the use of the resource
figures in the form and context in which they appear in this announcement.
APPENDIX A: CONSOLIDATED DART ENERGY STATEMENT OF
RESERVES AND RESOURCES,
AS AT 31 DECEMBER 2011