TERMINATION OF SOCA TRANSACTION AND RECAPITALISATION PLANSKey...

TERMINATION OF SOCA TRANSACTION AND RECAPITALISATION PLANS
Key points:
� Transaction to acquire up to 90% of SOCA Petroleum will not proceed based on a
number of factors, most notably inability to secure required funds within adequate
time-frame,
� Board has entered into agreement to immediately raise AUD$500,000 through
Placement (at AUD$0.002 per share) to Cape Lambert Resources Limited, with Board
finalising plans to undertake a Rights Issue on same terms,
� Managing Director, Mr Jon Roestenburg, has resigned with immediate effect and
Mr Paul Kelly has been appointed to the Board, and
� Company currently undertaking strategic review to assess existing project portfolio
and Board structure, with further Board changes likely in the short term.
Australian oil and gas company Monitor Energy Limited (ASX: MHL) (�Monitor� or �the Company�)
wishes to update the market in relation to the proposed acquisition of oil and gas production licenses in
Trinidad (refer ASX announcement 29 July 2010 and 6 January 2011) (�SOCA Transaction�), and
associated recapitalisation plans.
SOCA Transaction Terminated
Following extensive international road shows for the SOCA Transaction, the Company was advised by its
corporate advisor, Komodo Capital, that there was overwhelming investor preference for the transaction
to proceed by way of an AIM or TSX listed vehicle. This, coupled with the timing demands of the
vendors, meant that the Company was not in a position to proceed with the SOCA Transaction, and the
agreement between the parties has now been terminated.
Placement to Cape Lambert Resources Limited
To ensure the Company has adequate funds to pursue other investment opportunities and meet general
working capital requirements, the Board has resolved to proceed with a placement of 250,000,000 shares
to Cape Lambert Resources Limited (ASX: CFE) (�Cape Lambert�), at an issue price of AUD$0.002 per
share (to raise AUD$500,000) (�Placement�).
The Board was approached by Cape Lambert to inject funds into the Company and resolved to make the
Placement subject to receiving confirmation that the SOCA Transaction was terminated.