American Patriot Oil & Gas : Appendix 3B - Prospectus

Appendix 3B

1Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12

Name of entity

AMERICAN PATRIOT OIL & GAS LIMITED

ABN79 154 049 144

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

• 1 +Class of +securities issued or to be issued

  • (1) Fully paid ordinary shares that may be issued

  • (2) Options that may be issued

• 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

  (1)

  100 Fully paid ordinary shares that may beissued

  (2) 100 Options that may be issued

• 3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

• 4 Do the +securities rank equally in all (1) Yes, the shares issued will rank equally in all respects with all fully paid ordinary shares currently on issue.

  respects from the date of allotment with an existing +class of quoted +securities?

  If the additional securities do not rank equally, please state:

  • • the date from which they do

  • • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

  • • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration

• 6 Purpose of the issue

  (If issued as consideration for the acquisition of assets, clearly identify those assets)

• (2) Yes, the quoted options will rank equally with existing AOWOB options.

  • (1) Shares offered at $0.026 (2.6 cents) per Share pursuant to the Prospectus dated 14 December

    2018.

  • (2) Options offered at Nil, however exercisable at

    $0.045 (4.5 cents), expiring 20 September 2019.

  Offer of Shares and Options under the Prospectus dated 14 December 2018, prepared primarily for the purposes of Section 708A(11) of the Corporations Act to remove any trading restrictions on the sale of Shares and the Existing Options issued by the Company prior to the Closing Date.

• 6a Is the entity an +eligible entity that hasYes obtained security holder approval under rule 7.1A?

  If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

• 6b The date the security holder resolution 29 November 2018 under rule 7.1A was passed

• 6c Number of +securities issued without (1) 100 Fully paid ordinary shares that may be issued security holder approval under rule 7.1

  (2) 100 Options that may be issued

• 6d Number of +securities issued with securityNil holder approval under rule 7.1A

• 6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

Nil

+ See chapter 19 for defined terms. Appendix 3B Page 2

• 6f Number of securities issued under an Nil exception in rule 7.2

• 6g If securities issued under rule 7.1A, was N/A issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the issue date and both values. Include the source of the VWAP calculation.

• 6h If securities were issued under rule 7.1A fornon-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

  N/A

• 6i Calculate the entity's remaining issue Refer annexure 1 capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

• 7 Dates of entering +securities into Expected date 27 December 2018 uncertificated holdings or despatch of certificates

• 8 Number and +class of all +securities quoted on ASX (including the securities in section 2 if applicable)

• 9 Number and +class of all +securities not quoted on ASX (including the securities in section 2 if applicable)

• 10 Dividend policy (in the case of atrust, distribution policy) on the increased capital (interests)

Number	+Class
630,157,563 190,685,888	Fully paid ordinary shares Quoted options exercisable at $0.045 (4.5 cents) expiring on or before 20 September 2019

Number	+Class
3,500,000 110,000,000 30,000,000	Performance rights Unlisted Options, exercisable at $0.025 (2.5 cents), expiring 18 months after repayment of the loan or up until 30 April 2024. Unlisted Options, exercisable at $0.05 (5 cents), expiring 31 August 2021

N/A

Part 2 - Bonus issue or pro rata issue

• 11 Is security holder approval required? N/A

• 12 Is the issue renounceable or non- N/A renounceable?

• 13 Ratio in which the +securities will be N/A offered

• 14 +Class of +securities to which the N/A offer relates

• 15 +Record entitlementsdatetodetermineN/A

• 16 Will holdings on different registers N/A (or subregisters) be aggregated for calculating entitlements?

• 17 Policy for deciding entitlements in N/A relation to fractions

• 18 Names of countries in which the N/A entity has +security holders who will not be sent new issue documents

  Note: Security holders must be told how their

  entitlements are to be dealt with.

  Cross reference: rule 7.7.

• 19 Closing date for receipt ofN/A acceptances or renunciations

• 20 Names of any underwriters

  N/A

• 21 Amount of any underwriting fee or N/A commission

• 22 Names of any brokers to the issue

  N/A

• 23 Fee or commission payable to the N/A broker to the issue

• 24 Amount of any handling fee payable N/A to brokers who lodge acceptances or renunciations on behalf of +security holders

+ See chapter 19 for defined terms.

• 25 If the issue is contingent on +security N/A holders' approval, the date of the meeting

• 26 Date entitlement and acceptance N/A form and prospectus or Product Disclosure Statement will be sent to persons entitled

• 27 If the entity has issued options, and N/A the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

• 28 Date rights trading will begin (if N/A applicable)

• 29 Date rights trading will end (if N/A applicable)

• 30 How do +security holders sell their N/A entitlements in full through a broker?

• 31 How do +security holders sell part of N/A their entitlements through a broker and accept for the balance?

• 32 How do +security holders dispose of N/A their entitlements (except by sale through a broker)?

• 33 +Despatch date

N/A