Dart Energy Limited (ASX:DTE) Announce Extension of Option Exercise Period With Composite Energy Limited

Brisbane, Feb 1, 2011 AEST (ABN Newswire) - In September 2010, Dart Energy Limited (ASX:DTE) (PINK:DEGEF) acquired a 10% stake in Composite Energy Ltd (Composite) by subscription of US$7m, with a first option to increase its stake to 20% prior to the end of January 2011 via subscription of an additional US$5m, and a final option to move to 100% ownership of Composite, exercisable prior to the end of June 2011, for US$56m, payable either in cash or in Dart shares at the then prevailing market price.

Dart and Composite have by mutual agreement extended the 31 January 2011 option exercise date to the end of February 2011, pending ongoing discussions between the companies in relation to the work program for 2011 and the potential for acceleration of the acquisition of 100% of Composite by Dart prior to June 2011.

Contact

Mr Simon Potter CEO and Managing Director Tel: +65-6508-9840 Mr Shaun Scott Executive Director Tel: +61-7-3149-2100 Mr Eytan Uliel Chief Commercial Officer Tel: +65-6508-9840 http://www.dartenergy.com.au