CARBON ENERGY LIMITED

Carbon Energy announced that further to its intention to spin off its uranium interests through an inital public offering by the end of 2009, a prospectus has been lodged for the company that will own the uranium interests, Energia Minerals NL. Carbon Energy intends to maintain a 40% interest upon successful completion of the financing. Energia Minerals intends to raise up to A$7.5 m by issuing up to 37.5 m shares at A$0.20 per share. Carbon Energy shareholders will be extended a “Priority Offer” to acquire a minimum parcel of 10,000 shares each, with a priority pool of up to 30 m Energia Minerals shares.