Proceedings clarification from Kangaroo Resources

(1 July 2013) -- Kangaroo Resources Limited (KRL) makes reference to its announcement on 10 April 2012 and to the announcement made by White Energy Company Limited dated 26 June 2013 in relation to proceedings brought in the Supreme Court of Western Australia by BCBC Singapore Pte Ltd (BCBCS) against PT Bayan Resources Tbk (Bayan) and KRL (the Proceedings) for freezing orders.

On 26 June 2013, the Supreme Court of Western Australia delivered judgment in the Proceedings. The freezing orders made against KRL have been discharged. The Court held that this was not a case in which the Court should have made freezing orders against a third party, such as KRL. KRL received its costs of the Proceedings and has liberty to make an application to the Court to ask for an inquiry as to damages that it has sustained by reason of the freezing orders being granted on 5 April 2012. (ends)