Forte Energy NL
AIM : FTE

February 02, 2015 02:00 ET

Quarterly Activities & Cashflow Report

                                                                                                        
                                                                                        FORTE ENERGY NL
                                                                                        ACN 009 087 852
                                                                                                       
30th January 2015
                                    Quarterly Report - December 2014

Forte  Energy  NL ("Forte" or "the Company") (ASX/AIM: FTE) is an emerging international uranium  company
focused  on  the  exploration and development of uranium assets in the Slovak Republic, Europe,  and  the
Republics of Mauritania and Guinea, West Africa.

                             Highlights of 4th Quarter to 31st December 2014

    *   Completed payment of CAD$500,000 cash consideration to European Uranium Resources Ltd ("European
        Uranium") to earn a 50% interest in European Uranium's Slovak subsidiaries, Ludovika Energy and Ludovika
        Mining, which hold the mineral licenses comprising the Kuriskova and Novoveska Huta uranium projects
        
    *   On-site meeting of Slovakian Joint Venture Management Committee held to develop work programmes
        and strategies for the Kuriskova and Novoveska Huta projects
        
    *   A  review  of  the Kuriskova and Novoveska Huta uranium resources was undertaken,  including
        incorporating drill hole data for Kuriskova collected since the last resource estimate, to enable the
        release of JORC 2012 compliant mineral resource estimates.
        
    *   Following completion of review in January 2015, the Company's total JORC compliant resources
        increased by 70% (31.6 million pounds) to 76.5 million pounds U3O8
        
    *   Financing secured with execution of £550,000 Darwin convertible loan note agreement in December
        
    *   The Company continues talks with other parties with respect to further potential transactions
        
    *   The  Company  has announced its intention to delist from the Australian Securities  Exchange
        ("ASX") to reduce overheads and compliance costs and enhance the Company's ability to make an open offer
        to ALL shareholders to subscribe for shares in the Company
        

Progress
Commenting on the quarter, Mark Reilly, Managing Director of Forte, said:
"Having  finalised payment of the CAD$500,000 cash consideration for the Slovak joint venture, Forte  has
been  working  closely with European Uranium to finalise and implement works programmes. We  are  pleased
with  the  outcome  of  the  review of the Slovak resources which resulted in  publishing  of  JORC  2012
compliant mineral resources and an increase of approximately 6 million pounds U3O8 to the previous NI 43-
101 mineral resource estimate."

Slovak Uranium Joint Venture

On  1  October  2014, Forte completed payment of the initial CAD$500,000 cash consideration  to  European
Uranium  Resources  Ltd ("European Uranium"), to earn a 50% interest in the Slovak  uranium  projects  of
European  Uranium. Forte's interest is held through ownership of 50% of the shares in European  Uranium's
Slovak subsidiaries, Ludovika Energy and Ludovika Mining, which hold the mineral licenses comprising  the
Kuriskova and Novoveska Huta uranium projects. To maintain its interest in the Joint Venture, Forte  must
sole  fund  a minimum of CAD$350,000 a year on the Ludovika entities over the next ten years to  maintain
its 50% interest with the first year's expenditure of CAD$350,000 being an obligation.

During  the quarter, the joint venture Management Committee met on site in the Slovak Republic to discuss
and  agree work programmes and strategies for the Slovak uranium projects. The committee decided to focus
initially  on a review of the Canadian NI 43-101 compliant resource estimates that had been published  by
European  Uranium:  for Kuriskova as part of a prefeasibility study completed in  January  2012  and  for
Novoveska Huta as a resource estimate completed in October 2011. The aim of the review was to enable  the
release of JORC 2012 compliant mineral resource estimates, and potentially a resource upgrade.

Forte and its consultants concluded that the methodology employed in these earlier resource estimates was
valid.  However, Forte has used the model wireframe boundaries to better reflect geologic and geochemical
boundaries  and  cutoffs  in  preparing  the JORC compliant resource  estimates.  This  resulted  in  the
additional  resources that were excluded in the prior estimates. In addition the review incorporated  the
results of three metallurgical test holes that were drilled at Kuriskova after the last resource estimate
was completed.

The  review  was  completed and the results announced on 28 January 2015, including JORC  2012  compliant
mineral  resource  estimates for both Kuriskova (42.2Mlb U3O8) and Novoveska Huta (21.1Mlb  U3O8)  for  a
total of 63.3Mlb U3O8. This represents an increase of approximately 6Mlb U3O8 or 10% over the previous NI
43-101  resource estimates. As a result, the Company's total JORC compliant resources in West Africa  and
Slovakia increased by 70% (31.6Mlb) to 76.5 million pounds U3O8.

                         KURISKOVA - 100% Gross JORC Compliant Mineral Resource

MINERAL RESOURCE SUMMARY AT @ 0.03 U% CUT OFF, KURISKOVA DEPOSIT
 U%       Tonnes      % U3O8      U3O8 lbs      Metal U     Metal U3O8     Mo Tonnes     % Mo       Mo lbs
                                               (Tonnes)      (Tonnes)
                                                                                                       
                                                  Indicated
0.445    2,475,849    0.525      28,637,284     11,015        12,990       2,448,087     0.062     3,322,512
                                                                                                       
                                                  Inferred
0.130    4,010,815    0.153      13,545,690      5,210         6,144       3,779,214     0.024     2,036,120
                                                                                                       
                                            Indicated + Inferred
0.250    6,486,664    0.295      42,182,974     16,226        19,134       6,227,301     0.039     5,358,632

* To convert %U to %U3O8, a conversion factor of 1.17924 was used.
All at 0.03% U cut off; molybdenum included only when within blocks above U% cut off.
Forte holds a 50% interest in this deposit, subject to meeting expenditure commitments.
                                                    
                       NOVOVESKA HUTA - 100% Gross JORC Compliant Mineral Resource

MINERAL RESOURCE SUMMARY AT @ 0.03 U% CUT OFF, NOVOVESKA HUTA DEPOSIT
 U %      Tonnes      % U3O8      U3O8 lbs       Metal U     Metal U3O8     Mo Tonnes      % Mo     Mo lbs
                                                (Tonnes)      (Tonnes)
                                                                                                       
                                                  Measured
0.055    2,973,287    0.065      4,254,594        1,637         1,930                                         
                                                                                                              
                                                 Indicated
0.053    2,774,792    0.063      3,842,852        1,478         1,743                                         
                                                                                                              
                                                  Inferred
0.102    4,902,082    0.121      13,043,317       5,017         5,916       10,423,317    0.016    3,770,800
                                                                                                       
                                      Measured + Indicated + Inferred
0.076   10,650,161    0.090      21,140,763       8,132         9,589       10,423,317    0.016    3,770,800

* To convert %U to %U3O8, a conversion factor of 1.17924 was used.
All at 0.03% U cut off; molybdenum included only when within blocks above U% cut off.
Forte holds a 50% interest in this deposit, subject to meeting expenditure commitments.

During 2012, Areva was commissioned to complete a metallurgical study on samples from metallurgical drill
holes at Kuriskova in order to assess whether the process flowsheet in the prefeasibility study could  be
optimized.  The final results of this study are expected shortly.

The  Company, along with its joint venture partners European Uranium, has filed for a further renewal  of
the  Kuriskova License effective from April 19, 2015, and has requested a 10-year renewal in  conformance
with the current Slovak Republic's Geology Act, which became effective November 1, 2013.  The Company has
met all requirements for this renewal and expects it to be granted.

In  June  2014, the Slovak Republic amended its Mining Act to clarify the process by which  the  required
community approval for the mining of radioactive materials is demonstrated.  This amendment to the Mining
Act served as a clarification of the community approvals required, but did not change those requirements.

West Africa

Forte  is  one  of  the  largest uranium exploration licence holders in Mauritania, with  ten  100%-owned
licences, covering over 7,000 km² in the vicinity of Bir Moghrein in the North West, close to the  border
with  Western  Sahara. To date, exploration by Forte has identified a large number of  potential  uranium
prospects.  In particular, previous drilling at the A238 Prospect has identified an inferred resource  of
23.4Mlbs U3O8 (45.2M tonnes @ 235ppm U3O8, 100ppm cut-off).

Forte  also  holds  two  100%-owned uranium exploration licences in Guinea, West Africa,  comprising  the
Firawa  project. This project consists of two licences, totalling 286km2, which are located approximately
25km  to  the  east of Kissidougou. The Firawa project has an inferred resource of 19.5Mlbs  U3O8  (30.3M
tonnes @ 295ppm U3O8, 100ppm cut-off).

No  significant  exploration works were carried out in Mauritania or Guinea during the quarter  with  the
Company  focussing  instead  on  progressing its joint venture  interests  in  the  Slovak  Republic  and
preserving its capital.

Corporate

During  the  quarter, the Company has maintained its strict cost control focus to minimise overheads  and
optimise its working capital.

After a review by the board of the trading on both the ASX and AIM markets, the board concluded that  the
Company  is  getting little benefit from its ASX listing and the Company and its shareholders'  interests
would  be best served by delisting on the ASX and continuing with its AIM listing only. Currently 80%  of
all shares in the Company are held on AIM. The Company has written to the ASX asking for clarification on
the  ASX's  requirements for delisting and will revert to shareholders as soon as it  has  received  this
clarification.

As  a  consequence of delisting from the ASX, the Company believes it will in future be in a position  to
make  an  open offer to ALL shareholders to subscribe for shares in the Company. This has not  previously
been possible due to the non-alignment of the ASX/AIM quotes and certain restrictions imposed by the ASX,
which would obviously be removed if the Company was no longer listed there.

Following  completion  of  the European Uranium Joint Venture agreement, Forte's  expanded  portfolio  of
uranium  interests  should  enhance  the  Company's prospects to  capitalise  on  the  strong  long  term
fundamentals  of  the  uranium market. The Company has been actively looking at other  opportunities  for
acquisition in the Uranium sector that will provide synergies with its existing assets.

The Company has identified certain assets that it believes would fit those criteria and is pursuing talks
and  negotiations with the relevant parties and will advise shareholders of progress. Shareholders should
be  aware that there is no certainty of such discussions and negotiations leading to a transaction  being
concluded.

A  share  placement  approved at a General Meeting of shareholders on 30 July 2014 was  completed  on  14
October 2014 with the issue of 271,157,428 shares at 0.56 cents per share for total consideration of more
than A$1.5m before costs, and included one free Placement Warrant for each two shares subscribed for. The
Placement Warrants have an exercise price of £0.005 (approximately A$0.0093) each and an expiry period of
two years. Shareholders also approved the issue of 164,062,500 Loan Note Warrants to Darwin with a 5-year
expiry and an exercise price of 0.4 pence per share.

During  the  quarter,  the Company announced that it had secured additional funding for  working  capital
following  renegotiation  of its financing arrangements with Darwin Strategic Limited  ("Darwin").  As  a
result  of  these  negotiations  Darwin  agreed to extend the maturity  date  of  its  existing  £437,500
convertible  loan  to  9 January 2016. The loan note has been settled following conversion  of  the  loan
amount during the quarter.

On  30  December  2014,  the  Company announced that it had entered into  a  new  convertible  loan  note
instrument with Darwin for a principal amount of £550,000 with a 2 year maturity. These funds for working
capital have secured financing for the works programme for the current year. The Company is also  in  the
process of realising its remaining GRIT shares to raise additional funds.


Mark Reilly
Managing Director

For further information contact:

Mark Reilly, Managing Director
Forte Energy NL                                  Tel: +61 (0) 8 9322 4071

Oliver Morse / Trinity McIntyre
RFC Ambrian Ltd                                  Tel: +61 (0) 8 9480 2500
(AIM Nominated Adviser to the Company)



Forte Energy NL
Suite 3, Level 3
1292 Hay Street
West Perth WA 6005
Ph: +61 (0)8 9322 4071
Fax: +61 (0)8 9322 4073
Email: info@forteenergy.com.au
Web: www.forteenergy.com.au


INTERESTS IN MINING TENEMENTS

Forte held the following interests in mining tenements at the end of the Quarter:

LOCATION             TENEMENT NAME/PROJECT                        TENEMENT               INTEREST
                                                                   NUMBER
                                                                                             
Republic of          Kissidougou (Firawa)                          XP 110                  100%
Guinea               Kissidougou (Firawa)                          XP 130                  100%

                                                                                             
Republic of          Steilet Zednes                                XP 281                  100%
Mauritania           D' Adem Essder                                XP 282                  100%
                     Rhall Amane                                   XP 283                  100%
                     Tisram                                        XP 284                  100%
                     Gleibat Ten Ebdar                             XP 285                  100%
                     Legleya                                       XP 286                  100%
                     Hassi Baida                                   XP 948                  100%
                     Ouissuat                                      XP 949                  100%
                     Bir Ould Ben Nassar                           XP 1173                 100%
                     Nord Tmeimichat Rhall Amane                   XP 1588                 100%
                                                                                             
Slovak Republic      Spi?ská Nová Ves V.                             ML                    50%
                     Spi?ská Nová Ves U-Mo, Cu                       EL                    50%
                     Æermeå   -   Jahodná  -   U-Mo,   Cu            EL                    50%
                     (Kuriskova)

NOTE:           XP = Exploration Permit; ML = Mining Licence; EL = Exploration Licence

During the quarter, the Company acquired a 50% interest in three tenements in the Slovak Republic through
its joint venture with European Uranium Resources. There were no other tenements acquired or disposed  of
during the Quarter and no changes in the beneficial interests held by the Company.


About Forte Energy

Forte  Energy  is  an  Australian-based minerals company focused on the exploration  and  development  of
uranium  and associated bi-products in Mauritania and Guinea in West Africa and uranium projects  in  the
Slovak Republic under a 50% Joint Venture with European Uranium Resources ("European Uranium").

Its  flagship assets are the A238 prospect (23.4Mlbs U3O8) and the Bir En Nar project (2.06Mlbs U3O8)  in
Mauritania,  and  the Firawa Project in Guinea (19.5Mlb U3O8). It also holds a 50% interest,  subject  to
meeting  expenditure  commitments,  in the Kuriskova (42.2Mlb U3O8) and  Novoveska  Huta  (21.1Mlb  U3O8)
uranium projects in the Slovak Republic.

Forte  Energy  U3O8 JORC resources in West Africa (all at a 100ppm cut-off) (Forte holds  100%  of  these
projects):

Project                 Resource Category        M tonnes         ppm U3O8         Contained U3O8 Mlbs
A238*                         Inferred             45.2              235                          23.4
Bir En Nar                   Indicated              0.5              886                           1.0
                              Inferred              0.8              575                           1.0
Firawa                        Inferred             30.3              295                          19.5

Total                        Indicated              0.5              886                           1.0
                              Inferred             76.3              262                          43.9
                                 Total             76.8              266                          44.9

        * A238NW Anomaly included in the A238 Inferred Resources
    
The Company is quoted on the Australian Securities Exchange (ASX: FTE) and AIM market of the London Stock
Exchange (AIM: FTE). For more information, visit www.forteenergy.com.au


Slovak Republic Joint Venture

Forte  Energy  holds  a  50%  interest with European Uranium in two project  areas  in  Slovakia,  namely
Kuriskova  and Novoveska Huta, of which Kuriskova is the most advanced. Forte Energy's interest  is  held
through  ownership  of 50% of the shares in European Uranium's Slovak subsidiaries, Ludovika  Energy  and
Ludovika  Mining,  which  hold the mineral licenses comprising the Kuriskova and Novoveska  Huta  uranium
projects. Forte must sole fund a minimum of CAD$350,000 a year on the Ludovika entities over the next ten
years to maintain its 50% interest with the first year's expenditure of CAD$350,000 being an obligation.

The  Kuriskova project consists of 32 square kilometres of mineral licenses situated approximately 10  km
northwest of the city of Kosice, a regional industrial centre in East-Central Slovakia.

The Novoveska Huta uranium deposit is located at the western end of the Carpathian uranium belt, about 50
kilometres northwest of Kuriskova and near the town of Spisska Nova Ves. The deposit consists of a mining
license over one square kilometre and a surrounding fifteen square kilometre exploration license.


                         KURISKOVA - 100% Gross JORC Compliant Mineral Resource

MINERAL RESOURCE SUMMARY AT @ 0.03 U% CUT OFF, KURISKOVA DEPOSIT
  U%      Tonnes       % U3O8       U3O8 lbs      Metal U     Metal U3O8     Mo Tonnes     % Mo      Mo lbs
                                                 (Tonnes)      (Tonnes)
                                                                                                        
                                                  Indicated
0.445    2,475,849      0.525      28,637,284     11,015        12,990       2,448,087    0.062     3,322,512
                                                                                                        
                                                  Inferred                                                          
0.130    4,010,815      0.153      13,545,690      5,210        6,144        3,779,214    0.024     2,036,120
                                                                                                        
                                             Indicated + Inferred
0.250    6,486,664      0.295      42,182,974     16,226        19,134       6,227,301    0.039     5,358,632

* To convert %U to %U3O8, a conversion factor of 1.17924 was used.
All at 0.03% U cut off; molybdenum included only when within blocks above U% cut off.
Forte holds a 50% interest in this deposit, subject to meeting expenditure commitments.

                       NOVOVESKA HUTA - 100% Gross JORC Compliant Mineral Resource

MINERAL RESOURCE SUMMARY AT @ 0.03 U% CUT OFF, NOVOVESKA HUTA DEPOSIT
 U %       Tonnes        % U3O8      U3O8 lbs       Metal U      Metal U3O8      Mo Tonnes      % Mo      Mo lbs
                                                   (Tonnes)       (Tonnes)
                                                                                                             
                                                     Measured
0.055     2,973,287      0.065       4,254,594       1,637          1,930                                         
                                                                                                                  
                                                     Indicated
0.053     2,774,792      0.063       3,842,852       1,478          1,743                                         
                                                                                                                  
                                                     Inferred
0.102     4,902,082      0.121      13,043,317       5,017          5,916       10,423,317     0.016     3,770,800
                                                                                                             
                                          Measured + Indicated + Inferred
0.076    10,650,161      0.090      21,140,763       8,132          9,589       10,423,317     0.016     3,770,800

* To convert %U to %U3O8, a conversion factor of 1.17924 was used.
All at 0.03% U cut off; molybdenum included only when within blocks above U% cut off.
Forte holds a 50% interest in this deposit, subject to meeting expenditure commitments.
        

Note:
The  information  in  this report that relates to the reporting of Mineral Resources  in  Mauritania  and
Guinea  is  based  on  information compiled or reviewed by Mr. Galen  White,  who  is  a  Fellow  of  the
Australasian  Institute of Mining and Metallurgy (FAusIMM). Mr White is the Principal  Geologist  of  CSA
Global (UK) Ltd. CSA Global have an on-going role as geological consultants to Forte Energy NL. Mr. White
has  sufficient  experience which is relevant to the style of mineralisation and type  of  deposit  under
consideration and to the activity which he is undertaking to qualify as a Competent Person as defined  in
the  2004  Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources  and
Ore Reserves'. Mr. White consents to the inclusion in this report of the matters based on his information
in the form and context in which it appears.

The  information in this report that relates to the reporting of Mineral Resources in the Slovak Republic
is  based  on  information compiled or reviewed by Ing. Boris Bartalsky, PhD. who  is  a  Member  of  the
Australasian  Institute  of  Mining and Metallurgy (AusIMM) and the Society  of  Mining,  Metallurgy  and
Exploration (SME). Mr Bartalsky is the Director of Ludovika Energy, and country manager for the Slovakian
Joint  Venture.  Mr. Bartalsky has sufficient experience which is relevant to the style of mineralisation
and  type  of  deposit under consideration and to the activity which he is undertaking to  qualify  as  a
Competent  Person as defined in the 2012 Edition of the 'Australasian Code for Reporting  of  Exploration
Results,  Mineral Resources and Ore Reserves'. Mr. Bartalsky consents to the inclusion in this report  of
the matters based on his information in the form and context in which it appears.


Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96.  Origin:  Appendix 8.  Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity
FORTE ENERGY NL

ABN                                 Quarter ended      ("current quarter")   31 December 2014

                                                            Current quarter       Year to date
Cash flows related to operating activities                       A$'000            (6 months)
                                                                                     A$'000
1.1       Receipts from product sales and related debtors              -                   -
1.2       Payments for  (a)  exploration and evaluation             (71)                (79)
               (b)  development                                        -                   -
               (c)  production                                         -                   -
               (d)  administration                                 (211)               (415)
1.3       Dividends received                                           -                   -
1.4       Interest  and  other items of a  similar  nature                                  
          received                                                     -                   -
1.5       Interest and other costs of finance paid                  (73)                (73)
1.6       Income taxes paid                                            -                   -
1.7       Other (provide details if material)                          -                   -
                                                                                            
          Net Operating Cash Flows                                 (355)               (567)
                                                                                            
          Cash flows related to investing activities                                        
1.8       Payment for purchases of:                                                              
               (a) prospects                                           -                   -
               (b) equity investments                              (491)               (491)
               (c) other fixed assets                                  -                   -
1.9       Proceeds from sale of:                                                            
               (a) prospects                                           -                   -
               (b) equity investments                                 25                 158
               (c) other fixed assets                                  -                   -
1.10      Loans to other entities                                      -                   -
1.11      Loans repaid by other entities                               -                   -
1.12      Other (provide details if material)                          -                   -
                                                                                            
          Net investing cash flows                                 (466)               (333)
1.13      Total   operating  and  investing   cash   flows                                  
          (carried forward)                                        (821)               (900)


Consolidated statement of cash flows

1.13      Total   operating  and  investing   cash   flows         (821)               (900)
          (brought  forward)
                                                                                            
          Cash flows related to financing activities                                        
1.14      Proceeds from issues of shares, options, etc.              550                 550
1.15      Proceeds from sale of forfeited shares                       -                   -
1.16      Proceeds from borrowings                                 1,160               1,160
1.17      Repayment of borrowings                                    (5)                 (7)
1.18      Dividends paid                                               -                   -
1.19      Other - Settlement of Guarantee                                                        
          Net financing cash flows                                 1,705               1,703
                                                                                            
          Net increase (decrease) in cash held                       884                 803
          
1.20      Cash at beginning of quarter/year to date                   11                  92
1.21      Exchange rate adjustments to item 1.20                       -                   -
1.22      Cash at end of quarter                                     895                 895

Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the
related entities
                                                                              Current quarter
                                                                                  $A'000
                                                                                             
        Aggregate  amount of payments to the parties included  in  item                    37
        1.2
                                                                                             
        Aggregate amount of loans to the parties included in item 1.10                      0
        
        Explanation necessary for an understanding of the transactions
        Salaries
Non-cash financing and investing activities
2.1     Details of financing and investing transactions which have had a material effect on
        consolidated assets and liabilities but did not involve cash flows
        Nil

2.2     Details  of  outlays  made  by other entities to establish or  increase  their  share  in
        projects
        in which the reporting entity has an interest
        Nil


Financing facilities available
Add notes as necessary for an understanding of the position.

                                                   Amount available             Amount used
                                                         '000                      '000
3.1       Loan facilities                                  -                         -
3.2       Credit standby arrangements                      -                         -

Estimated cash outflows for next quarter
                                                                                     $A'000
4.1     Exploration and evaluation                                                     250
4.2     Development                                                                      -
4.3     Production                                                                       -
4.4     Administration                                                                 200
          Total                                                                        450


Reconciliation of cash
Reconciliation  of cash at the end of  the  quarter      Current quarter       Previous quarter
(as  shown  in the consolidated statement  of  cash          $A'000                 $A'000
flows) to the related items in the accounts  is  as
follows.
5.1     Cash on hand and at bank                                 895                    11
                                                                    
5.2     Deposits at call                                           -                     -
5.3     Bank overdraft                                             -                     -
5.4     Other (provide details)                                    -                     -
        Total: cash at end of quarter (item 1.22)                895                    11

Changes in interests in mining tenements

                               Tenement reference    Nature      of   Interest   at  Interest  at
                                                     interest         beginning  of  end       of
                                                     (note (2))       quarter        quarter
6.1     Interests  in  mining                                                              
        tenements
        relinquished,
        reduced or lapsed
6.2     Interests  in  mining  *       Spi?ská       Joint venture    0%             50%
        tenements    acquired    Nová Ves V. ML      with European
        or increased           *       Spi?ská       Uranium,
                                 Nová Ves U-Mo, Cu   subject to
                                 EL                  CAD$3.5m
                               *       Æermeå -      expenditure
                               Jahodná - U-Mo, Cu    commitment
                               (Kuriskova) EL        over 10 years
Issued and quoted securities at end of current quarter
Description  includes rate of interest and any redemption or conversion rights together with  prices  and
dates.

                                       Total number    Number quoted    Issue price   Amount paid up
                                                                       per security     per security
                                                                       (see note 3)     (see note 3)
                                                                            (cents)          (cents)
7.1     Preference     +securities                                                                  
        (description)
7.2     Changes during quarter                                                                      
        (a)  Increases through                                      
        issues
        (b)  Decreases through
        returns of capital, buy-
        backs, redemptions
7.3     +Ordinary securities          2,478,891,511   2,478,891,511                               
                                          2,250,000               -            25                1
7.4     Changes during quarter                                                                    
        (a) Increases through           271,157,428     271,157,428         0.56c            0.56c
        issues                          580,000,000     580,000,000         0.15c            0.15c
                                        192,307,692     192,307,692         0.48c            0.48c
                                         18,931,080      18,931,080         0.17c            0.17c
        (b)  Decreases through
        returns of capital, buy-
        backs
7.5     +Convertible          debt                1                -                              
        securities (description)
        Darwin   loan   note   for
        £418,250
7.6     Changes during quarter                                                                    
        (a)  Increases through                    1                
        issues                                                     
        (b)  Decreases through                                     
        securities matured,                                        
        converted                                 1               -
7.7     Options  (description  and                                         Exercise    Expiry date
        conversion factor)                                                    price               
                                                                                                  
                                          4,000,000               -      12.5 cents     14/04/2015
                                          5,000,000               -         3 pence     14/02/2015
                                        135,578,714               -       0.5 pence     14/10/2016
                                        164,062,500               -       0.4 pence     21/10/2019
                                         60,692,308               -      0.32 pence     14/10/2019
7.8     Issued during quarter           135,578,714               -       0.5 pence     14/10/2016
                                        164,062,500               -       0.4 pence     21/10/2019
                                         60,692,308               -      0.32 pence     14/10/2019
7.9     Exercised during quarter                                                                  
7.10    Expired during quarter                                                                    
7.11    Debentures                                                                                  
        (totals only)
7.12    Unsecured notes                                                                             
        (totals only)


Compliance statement

1     This  statement has been prepared under accounting policies, which comply with accounting  standards
      as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

2     This statement does give a true and fair view of the matters disclosed.





Sign  here:        .............................................        Date:  30  January 2015.
                   Company Secretary

Print name:      ....Murray Wylie...............................


Notes

1     The  quarterly  report provides a basis for informing the market how the entity's  activities  have
      been  financed  for  the past quarter and the effect on its cash position.  An  entity  wanting  to
      disclose  additional  information is encouraged to do so, in a  note  or  notes  attached  to  this
      report.

2     The  "Nature  of interest" (items 6.1 and 6.2) includes options in respect of interests  in  mining
      tenements acquired, exercised or lapsed during the reporting period.  If the entity is involved  in
      a  joint  venture  agreement and there are conditions precedent, which will change  its  percentage
      interest  in a mining tenement, it should disclose the change of percentage interest and conditions
      precedent in the list required for items 6.1 and 6.2.

3     Issued  and quoted securities  The issue price and amount paid up is not required in items 7.1  and
      7.3 for fully paid securities.

4     The  definitions  in, and provisions of, AASB 1022: Accounting for Extractive Industries  and  AASB
      1026: Statement of Cash Flows apply to this report.

5     Accounting  Standards  ASX will accept, for example, the use of International Accounting  Standards
      for  foreign  entities.  If the standards used do not address a topic, the Australian  standard  on
      that topic (if any) must be complied with.


Contact Information

  • Forte Energy NL