Bandanna Energy Limited (ASX:BND) Strategic Review Update

Brisbane, July 14, 2011 AEST (ABN Newswire) - Bandanna Energy Limited (ASX:BND) is aware that there has been recent media speculation concerning the Bandanna Energy Limited transaction process.

As previously announced, Bandanna has invited shortlisted parties to progress through a second stage of the transaction process. This stage involved management presentations and detailed due diligence.

Second stage proponents have been requested to provide a binding offer for their respective proposed transactions. Proposed transactions include both individual project assets and corporate based transactions.

If binding offers are received, this may or may not result in a proposal being made or recommended by the Board.

Contact

Dr Ray Shaw Tel: +61-7-3041-4400 Andrew Crook Mob: +61-419-788-431 http://www.bandannaenergy.com.au