Issue of Equity

27 May 2014

Wildhorse Energy Limited ("WHE" or the "Company") announces that the 4,144,325 performance rights issued to non-Board level employees of and consultants to the Company as part payment of remuneration earned prior to 2013, as previously announced on 27 March 2014, have converted into ordinary shares due to satisfaction of the conversion milestones, resulting in the issue of 4,144,325 ordinary shares in the Company.

Application will be made to the Australian Securities Exchange ("ASX") and the AIM market of the London Stock Exchange ("AIM") for the new ordinary shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on both the ASX and AIM. Dealings on AIM are expected to commence at 8:00 a.m. on or around 2 June 2014. Following the issue of these shares, the Company's total issued ordinary share capital will be 410,240,284 ordinary shares.

The Company also confirms, as previously announced, that the following unlisted options have expired during the March and June 2014 quarters:

Notice under Section 708A(5)(e) of the Corporations Act

The Company advises that the Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, a sale of the abovementioned securitieswill fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

1. the Company issued the securities without disclosure to investors under Part 6D.2 of the Act;

2. as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

3. as at the date of this notice, there is no information that is excluded information under section 708A(7) and (8) of the Act that has not already been disclosed to investors generally.

**ENDS**

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