ABN 38 119 047 693

3 January 2014
ASX Limited
Level 8, Exchange Plaza
2 The Esplanade
PERTH WA 6000

Via e-lodgment

EXPIRY OF LISTED OPTIONS (CRJOA) - 31 December 2013

Caravel Energy Limited wishes to advise that 149,506,970 listed options (ASX: CRJOA) over fully paid ordinary shares exercisable at $0.035 expired at 5.00pm Western Standard Time ("WST") on 31 December 2013.
The options were not "in the money" on the 25th business day before the option expiry date. As a result, the timetable and clauses 6.1 and 6.2 of ASX Appendix 6A do not apply and option expiry notices were not sent to optionholders.

Yours faithfully
Aaron Bertolatti
Company Secretary

CARAVEL ENERGY LIMITED

Level 1/330 Churchill Avenue, Subiaco WA 6008

P.O. Box 540, Subiaco WA 6904, Australia Ph: +61 8 9200 4468, Fax: +61 8 9200 4469 www.caravelenergy.com.au

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