FIRESTONE ENERGY LIMITED - Request for Extension of Voluntary Suspension

Request for Extension of Voluntary Suspension

FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
('FSE' or 'the Company')

9 April 2015
ASX Limited
Level 40 Central Park
152 - 158 St George's Terrace
PERTH WA 6000

Attn: Ben Tippett By email: tradinghaltsperth@asx.com.au

Dear Ben 
Request for Voluntary Suspension - Firestone Energy Limited
Firestone Energy Limited (FSE) hereby requests an extension to its voluntary suspension in 
the trading of its securities which is due to expire pre-open on Friday 10 April 2015.

In accordance with ASX Listing Rule 17.2, FSE advises that:

(a) it is seeking the extension to the voluntary suspension to allow time for its parent 
    company, The Waterberg Coal Company Limited (WCC), to finalise a proposed third 
    party funding arrangement to replace its existing funding arrangement (Facility) with 
    Standard Bank of South Africa (SBSA), which is due for repayment on 9 April 2015 (as 
    announced on 17 March 2015). The completion of discussions and documentation for the 
    replacement funding represents a significant transaction and the final terms of the 
    proposal will impact FSE's ability to carry out its future objectives;

(b) WCC has advised that SBSA will maintain the Facility as "on demand", rolling daily 
    basis to give the discussions time to progress;

(c) FSE is of the view that re-instatement of trading for its securities at this time is likely to be 
    materially prejudicial to WCC's ability to successfully complete the complex funding transaction 
    contemplated which is critical to both WCC's and FSE's financial viability.

(d) it expects the voluntary suspension to remain in place until the earlier of:
     
    (i)   the date that it has made an announcement in respect of WCC's proposed funding 
          arrangement; and

    (ii)  commencement of trade on 10 May 2015;

(e) it is not aware of any reason why the securities should not be suspended; and

(f) is not aware of any other information necessary to inform the market about the 
    suspension.

Yours faithfully


E L (Lee) Boyd
Company Secretary
Firestone Energy Limited

Johannesburg
9 April 2015
Sponsor
River Group




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