Completion of Placement of Firm Placing Shares

Wildhorse Energy Limited ('WHE' or 'the Company'), the AIM and ASX listed company focussed on developing underground coal gasification ('UCG') and uranium projects in Central Europe, announces that it has now allotted and issued 30,877,370 ordinary shares each at an issue price of 5 pence per Share (approximately A$0.077). These shares are the Firm Placing Shares referred to in the announcement of 5 April 2012 in respect to the £5.56 million (A$8.58 million) placement ('the Placing').

In connection with the Placing, the Company has entered into a placing agreement with GMP Securities Europe LLP ('GMP') and Liberum Capital Limited ('Liberum') and a letter of engagement with Azure Capital Limited ('Azure'), pursuant to which the Company has agreed to, amongst other things, grant to GMP, Liberum and Azure up to 6,064,255 unlisted options ('Broker Options'). Of these 1,814,459 options will be granted in connection with the Firm Placing Shares ('Firm Broker Options') and 4,249,796 options will be granted in connection with the Conditional Placing Shares ('Conditional Broker Options') subject to the completion of the issue of the Conditional Placing Shares (refer to the Company's announcement dated 5 April 2012) and shareholder approval of the grant of the Conditional Broker Options.

The 1,814,459 Firm Broker Options granted to GMP, Liberum and Azure comprise:

(a) 604,819 unlisted options exercisable at £0.05 (approximately A$0.077) and expiring on 12 April 2014;

(b) 604,820 unlisted options exercisable at £0.06 (approximately A$0.0924) and expiring on 12 April 2014; and

(c) 604,820 unlisted options exercisable at £0.07 (approximately A$0.1078) and expiring on 12 April 2014.

**ENDS**

For further information please visit www.wildhorse.com.au or contact: