Black Star Petroleum : Rights Issue Shortfall

ABN 90 147 370 312

1 September 2014

Australian Securities Exchange

Level 8, Exchange Plaza

2 The Esplanade

PERTH WA 6000

RIGHTS ISSUE SHORTFALL

Black Star Petroleum Limited (BSP) advises that the renounceable rights issue undertaken pursuant to the Prospectus dated 1 August 2014 (Prospectus) closed on 25
August 2014 with the following result:

	Number of Shares
Entitlements under the offer	684,606,000
Acceptances	261,495,004
Shortfall	423,110,996

As indicated in the Prospectus, the directors will now consider all options in relation to placing the shortfall shares.

Yours faithfully

JONATHAN HART

Company Secretary

BLACK STAR PETROLEUM LIMITED

Level 1/330 Churchill Avenue Subiaco WA 6008

P.O. Box 540, Subiaco WA 6904, Australia

Ph [phone], Fax [phone]