Bandanna Energy Limited (ASX:BND) to Open Retail Component of Entitlement Offer on 25 August 2011

Brisbane, Aug 25, 2011 AEST (ABN Newswire) - On 17 August 2011 Bandanna Energy Limited (ASX:BND) announced its 5 for 16 accelerated non-renounceable entitlement offer ("Entitlement Offer") to raise up to approximately A$133 million. The institutional component of the offer underwritten by UBS, attracted strong demand from Bandanna's existing institutional shareholders and new institutional shareholders and was oversubscribed, raising gross proceeds of approximately A$100 million.

Bandanna wishes to advise that the retail component of the Entitlement Offer ("Retail Offer") will open on Thursday, 25 August 2011 and will close at 5.00pm (AEST) on Friday, 9 September 2011. The Retail Offer is for the issue of up to approximately 33 million shares at A$ 1.00 each, on the basis of 5 new ordinary shares for every 16 existing ordinary shares held at 7.00 pm (AEST) on Monday 22 August, 2011. The Retail Offer is non-renounceable and is not underwritten.

The Retail Offer Booklet was today despatched to eligible shareholders. ( The booklet can be viewed here: http://media.abnnewswire.net/media/en/docs/69166-ASX-BND-184235.pdf)

Eligible retail shareholders wishing to participate in the Retail Offer for New Shares and Additional New Shares will need to follow the instructions in the Retail Offer Booklet and on the Entitlement and Acceptance Form which will accompany the Retail Offer Booklet.

Shareholders who have questions regarding the Retail Offer should call the Bandanna Energy Offer Information Line on 1300 657 955 (from within Australia) or +61 3 9415 4037 (from outside Australia) at any time from 8.30am to 5.30pm (AEST) Monday to Friday during the Retail Offer Period.

Contact

Dr Ray Shaw Tel: +61-7-3041-4400 Andrew Crook Mb: +61-419-788-431 http://www.bandannaenergy.com.au