Singapore (Head Office) T +65 6508 9840 F +65 6294 6904 152 Beach Road, #19-01/04 The Gateway East Singapore 189721 dartenergy.com.au

Brisbane (Registered Office) T +61 7 3149 2100 F +61 7 3149 2101 Level 11, Waterfront Place, 1 Eagle Street, Brisbane Qld 4000 GPO Box 3120, Brisbane Qld 4001, Australia ASX CODE DTE ABN 21 122 588 505

2 May 2011

Dart establishes Coal Bed Methane Joint Venture in Belgium

Dart Energy Limited (Dart) (ASX:DTE) has entered into a coal bed methane (CBM) joint venture with NV Mijnen (NVM) in Belgium. NVM is a wholly owned subsidiary of Limburgse Reconversie Maatschappij (LRM), a Flanders Authority owned enterprise, with a charter focussed on promoting economic development and overall employment in the province of Limburg, Belgium. NVM owns approximately 80% of all coalfield concessions in the Flanders region of Belgium. The joint venture will seek to explore, appraise and develop CBM resources on NVM’s existing coal mining concession area in the Campine Basin, Flanders, Belgium. The joint venture will also seek to secure further CBM and unconventional gas concessions in the same region. The joint venture will operate under the name NV Limburg Gas, and will be owned 80% by Dart Energy and 20% by NVM. Dart Energy will be operator and manager of the joint venture. Initially, the joint venture will focus on, and have the exclusive rights to explore for CBM in a 350km2 area of the Campine Basin over which NVM currently holds a coal mining concession. Dart and NVM will fund the cost of exploration and share the economic benefits in proportion to their respective equity interests in the joint venture. Dart and NVM have agreed an initial appraisal programme of a minimum of 1 core well to be drilled during 2012. Depending on successful outcomes, the programme might be expanded to include additional core wells in 2012, and pilot wells in 2013. In addition, Dart and NVM have agreed to exclusively work together under an Area of Mutual Interest Agreement (AMI). The AMI is for 3 years and covers the joint pursuit of further licensing opportunities in the Campine Basin. The Campine Basin is currently generally unlicensed for CBM / gas exploitation, although a Belgian government decree opening the region for licensing is expected in mid-2011. In order to secure licences in this region once available, a licence applicant will be required to have both technical capabilities and some level of local Flemish ownership. Dart and NVM therefore believe the combined attributes of both parties via the joint venture being created will maximise the prospect of securing further licences. Under the AMI, the joint venture will initially be targeting open acreage areas of approximately 700km2.

Announcing the Joint Venture, Dart Chief Executive Officer and Managing Director, Mr Simon Potter said: “Dart acquired Composite Energy Limited to provide a low cost CBM platform in Europe with a maturing funnel of business opportunities, including the opportunity in Belgium which Composite has been working on securing for over 12 months. The initial entry cost into the joint venture is modest, but over time the potential exists to work through this joint venture and develop a material CBM resource in the Campine Basin which although prospective is currently unexplored. This transaction is therefore consistent with Dart’s stated strategy of gaining low-cost access to high-graded opportunities proximate to high demand gas markets and high prices, and furthers our desire to selectively expand our acreage across Europe”. “The transaction also marks the beginning of a relationship with NVM and its parent company, LRM, as our Belgian partner. We are delighted that Composite / Dart has been selected as NVM’s partner of choice, and we look forward to working closely with our new Belgian partner as we seek to better understand and then unlock the CBM resource potential in the Flanders region”.

NV Limburg JV Signing Ceremony & Press Conference, Brussels, Belgium, 29 April 2011

Main picture, left to right: Mr. Herman Reynders, Governor of the Province of Limburg; Mr. Stijn Bijnens, General Manager, LRM; Mr. Peter Roles, Dart Energy Chief Technology Officer; Mrs. Ingrid Lieten, Vice-Minister-President of the Flemish Government & Flemish Minister for Innovation, Public Investment, Media & Poverty Reduction; Mr. Eytan Uliel, Dart Energy Chief Commercial Officer About LRM LRM is a Flemish Authority-owned profit-oriented investment company which acts as an investor to promote economic development and general employment in the province of Limburg, Belgium. Whilst LRM is a generalist investor, core areas of focus for LRM include ICT, Life Sciences and Cleantech & Energy. LRM focuses on all sectors and enterprises, and owns approximately 80% of all existing coalfield concessions in Flanders, Belgium via its 100% subsidiary NV Mijnen. See www.lrm.be for further information.

ENDS For and on behalf of the Board Paul Marshall, Company Secretary For further information contact: Mr Simon Potter CEO and Managing Director Tel: +65 6508 9840 Mr Peter Roles Chief Technical Officer Tel: +65 6509 9840 Mr Eytan Uliel Chief Commercial Officer Tel: +65 6508 9840

4

Attachment A: Belgium Location Map

Attachment B: LRM Press Release

PRESS RELEASE

Campine coal basin once again

a key energy source

LRM and Dart Energy sign long term coal bed methane (CBM) gas mining collaboration agreement

Hasselt, 29 April 2011. The Limburg investment company LRM and Australia’s Dart Energy Limited (Dart) (ASX: DTE) have signed a long term collaboration agreement for CBM gas mining in the Campine coal basin. The company ‘Limburg Gas NV’ will be established for the purpose and the parties will jointly invest in appraisal of CBM, which could see investment of up to EUR 10 million over a period of three years. Campine coal basin once again a source of energy Due to the increased scarcity of traditional energy sources, the recovery of methane gas from coal beds (Coalbed Methane or CBM) is gaining weight around the globe. In North America and Australia, CBM has been an important part of the energy mix for many years. Europe has great potential, but commercial CBM production is practically non-existent at present. A recent VITO (Flemish Institute for Technological Research) study has shown a theoretical potential of seven billion m3 of extractable methane gas in Limburg, equalling the energy consumption of 175,000 families – or more than half of all Limburg households - over a twenty year period. Limburg Gas LRM and Dart have entered into an exclusive cooperation contract to test the potential for CBM in practice, and prove the commercial exploitation capacity. The parties will establish the project company Limburg Gas NV, with Dart holding 80% of the shares and LRM the remaining 20%.

Drawing on Dart’s international experience in CBM, Limburg Gas will initially map the areas with the highest potential for successful CBM development, and select locations for initial test drilling. Appraisal drilling followed by pilot extraction operations will be initiated after the necessary licenses have been obtained. This first phase of appraisal drilling and pilot extraction is expected to span a period of three years. Depending on the success of the programme, the parties could jointly invest up to EUR 10million: EUR 8 million from Dart and EUR 2 million from LRM. Stijn Bijnens, General Manager of LRM states: “Today we were able to convince a world player in the field of CBM gas production of the advantages of investing in Limburg's future with us. Dart Energy’s expertise, experience and resources enable us to maximise exploitation of the potential gas supply. This collaboration agreement is the best proof that Limburg has what it takes to act as a lab for innovative technologies.” New industrial activity Based on the results and findings from the initial appraisal campaign, LRM and Dart intend that further projects be identified and rolled out across the entire Campine coal basin. Successful roll-out may result in the development of new industrial activity in Flanders, thus supporting the local economy and promoting local employment. It would also offer opportunities to assemble know-how and develop new technologies. Depending on the level of success, exploitation may extend over a period of twenty to thirty years. Simon Potter, CEO and Managing Director DART Energy, said: “Simon Potter, CEO and Managing Director of DART Energy said: “The transaction marks the beginning of a relationship with NVM and its parent company, LRM, as our Belgian partner. We are delighted that Dart has been selected as NVM’s partner of choice, and we look forward to working closely with our new Belgian partners as we seek to better understand and then unlock the CBM resource potential in the Flanders region”. <End of press release> About Dart Energy Dart Energy is an Australian S&P/ASX 200 listed company, focussed exclusively on developing coal bed methane resources around the world that are capable of rapid commercialisation. Coal bed methane offers a clean, safe and cost-effective energy solution for an increasingly energy constrained world. Dart currently has 35 active coal bed methane licences in Australia, India, China, Indonesia, Vietnam, the UK and Poland. Dart’s European headquarters is in Stirling, Scotland. www.dartenergy.com.au

About LRM LRM is a profit-driven investor, offering entrepreneurs a unique combination of risk capital and real estate. Oxygen for growth! Although LRM is a generalist, it has built up specific competences in ICT, Life Sciences and Cleantech. LRM’s activities contribute to the economic development and general employment in the province of Limburg. They aim at all sectors and companies, from starter companies via growing SMEs to large corporations. Access to LRM runs across five domains: ICT & Media, Life Sciences, Cleantech & Energy, SME and Large Enterprises. www.lrm.be For more information contact LRM Jeffrey Alenus Commercial Director T +32 11 24 68 19 M +32 475 93 03 61 E j.alenus@lrm.be