Dart Energy Limited (ASX:DTE) Received Approval To Commence Dajing Block Natural Gas Exploration In China

Brisbane, April 1, 2011 AEST (ABN Newswire) - Global coal bed methane (CBM) company Dart Energy Limited (ASX:DTE) will commence exploration of the Dajing block in China after receiving approval for a natural gas Production Sharing Contract (PSC) contract between Dart and China National Petroleum Corporation (CNPC) from the Ministry of Commerce of the People's Republic of China. The effective date of the PSC is 1 April, 2011.

Dart and CNPC will convene a Joint Management Committee meeting to formally approve the 2011 work program and budget, following which Dart will move immediately to award contracts for site preparation, drilling rigs and suppliers, in order to mobilise equipment to site with a view to commencing drilling at the earliest opportunity in the 2nd quarter of 2011. This start date allows for completion of all of the 14 exploration wells on the block budgeted for 2011 before the full onset of winter.

Simon Potter, Dart Chief Executive Officer, said: "This is a major milestone for Dart and our operations in China. We believe Dajing has enormous potential and we are intent on working diligently and quickly with CNPC to unlock that value. With the Dajing PSC now approved we and CNPC can start the planned exploration program immediately".

Contact

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