Drillsearch Energy Limited : Unlisted Options Expire and Performance Rights Lapse

Drillsearch Energy Limited

ABN 73 006 474 844

Telephone [phone]

Facsimile [phone] [e-mail] www.drillsearch.com.au Level 16, 55 Clarence Street Sydney NSW 2000

29 January 2014

Drillsearch Energy Limited (ASX Code: DLS) Unlisted Options Expire and Performance Rights Lapse

Drillsearch wishes to advise that:

 265,344 unlisted options expired under the Long Term Incentive Plan 2011. The expired options were exercisable at 59.6 cents per share on or before 25 July 2018;

 264,727 Performance rights under the 2012 grant with a performance period ending on 30 June 2015 have lapsed;

 20,725 Performance rights under the 2013 grant with a performance period ending on 30 June 2014 have lapsed; and

 46,046 Performance rights under the 2013 grant with a performance period ending on 30 June 2016 have lapsed.

Following the expiry of these options and the lapse of these performance rights, Drillsearch has on issue the following unlisted options and performance rights:

Number	+Class
1,000,000 1,000,000 500,000 1,199,597 2,097,268 3,185,586	30/09/14 60.0 cent options 15/03/15 85.3 cent options 03/01/16 70.1 cent options 20/06/18 59.6 cent options 25/07/18 59.6 cent options 23/11/18 59.6 cent options
8,982,451	TOTAL OPTIONS

982,517	Performance rights under the 2012 grant with a performance period ending on 30 June 2015.
683,452	Performance rights under the 2013 grant with a performance period ending on 30 June 2014.
1,695,133	Performance rights under the 2013 grant with a performance period ending on 30 June 2016.

Jean Moore Company Secretary