Archer Exploration Limited (ASX:AXE) Share Purchase Plan Allotment and Return Cheques

Perth, May 14, 2012 AEST (ABN Newswire) - As advised in the release to the ASX on 3 May 2012, the Archer Exploration Limited (ASX:AXE) Share Purchase Plan (SPP) was oversubscribed and closed early with applications received by mail postmarked 3 May 2012 or earlier, or BPay up to 6.00 pm on 3 May 2012 to be accepted. Application monies received after the close will be fully refunded.

Even though the SPP was closed early, there was a significant oversubscription and all valid applications received from entitled holders prior to the amended closing date will be scaled back. Successful applicants will receive approximately 70% of the number of shares applied for with the remaining application monies to be refunded.

The original Key Dates for the SPP have not changed and the maximum 5,000,000 shares to be issued under the SPP will be allotted on 16 May 2012. The Despatch Date for the confirmation of transaction and refund cheques will be mailed to applicants on 18 May 2012.

The Directors wish to thank all shareholders who have participated in the SPP for the continued confidence they have shown in the Company.

Contact

Archer Exploration Limited T: +62-8-8272-3288 WWW: www.archerexploration.com.au