Bandanna Energy Limited

Bandanna Energy Limited (ASX:BND) has enhanced its position as an emerging producer in the Australian thermal coal sector, announcing today the receipt of Feasibility Studies by Brisbane based mining and infrastructure consultants Larpro Projects which has assessed the viability of developing Bandanna's Springsure Creek, Arcturus and Dingo West coal projects.

Bandanna Energy Limited (ASX:BND) is pleased to announce that it has been notified of the Federal Government's decisions under the Environment Protection and Biodiversity Conservation Act (Cth) 1999. (EPBC Act) in respect of the Springsure Creek and Arcturus projects.

Bandanna Energy Limited (ASX:BND) has received expected product coal quality specifications for the South Galilee Project.

Bandanna Energy Limited (ASX:BND), through its wholly owned subsidiary Springsure Creek Coal Pty Ltd, is pleased to announce that it has received the draft Terms of Reference (TOR) from the Queensland Department of Environment and Resource Management for both the Arcturus and Springsure Creek Coal projects in the southern Bowen Basin.

Bandanna Energy Limited (ASX:BND) provides update on strategic review to consider future funding requirements to develop its three key Bowen Basin projects.

Bandanna Energy Limited (ASX:BND) release an independent evaluation of the resources for the South Galilee Project (SGP) Joint Venture following completion of Prefeasibility drilling during the 2010 field season.

Following the successful completion of its A$76 million capital raising in December 2010, Bandanna Energy Limited (ASX:BND) has progressed the strategic review of its operations announced to the ASX on 15/12/2010.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that it has acquired all of the remaining Queensland petroleum interests held by Bandanna Energy Ltd (ASX:BND) being interests in ATP539P, ATP549P West and PL18. The total consideration paid to acquire all of Bandanna's remaining interest is A$150,000.

Bandanna Energy Limited (ASX:BND) is pleased to announce that it has taken a further important step toward production announcing the submission of Environmental Referrals for the Arcturus and Springsure Creek projects to the Federal Government. The referrals to the Federal Department of Sustainability, Environment, Water, Population and Communities seek to have both projects considered under the Federal Environment Protection and Biodiversity Conservation Act 1999.

Bandanna Energy Limited (ASX:BND) is pleased to announce that it has successfully completed the institutional placement announced on 14 December 2010. The Placement, raising approximately A$76 million, was priced at A$1.42 per share, an 11.6% discount to the 5 day VWAP ending 13 December 2010 and will result in the issue of 53,533,323 ordinary shares to participating investors.