Energy Ventures Ltd : 01 February 2013 - Appendix 4C - Quarterly

L EV EL 1

8 ? C OL I N ? S TR EE T

W EST P ER T H WA 600 5

PO ? B OX ? 886

W EST P ER T H WA 687 2

T EL :[phone]

F AX :[phone]

ABN 89 106 52 3 611

31 January 2013

Manager Announcements Company Announcements Office Australian Securities Exchange

10th Floor, 20 Bond Street

SYDNEY NSW 2000

Dear Sir/Madam,

Via electronic lodgement

QU ARTERL Y ACTIVITY REPORT FO R THE PERIOD ENDING 31 DECEMBER 2 012 Highlights:

? Key permitting tasks at the Aurora Uranium Project continuing.

? The Company held its Annual General Meeting in November.

? The Company had $1.1m cash and liquid assets as at 31 December 2012.

USA Uranium Projects

Energy Ventures, through its wholly owned US subsidiary Oregon Energy LLC, owns three uranium projects located in the western USA, all of which have been subject to significant historical exploration and have either current or historical resources. The most advanced of these projects is the Aurora uranium project located in southeast Oregon.

The Company continues to remain confident in the positive outlook for the uranium market and retains its key uranium assets in the USA; the Aurora Uranium Project, Maybell Uranium Project and the Coyote Basin Uranium Project. In keeping with the strategy announced in the previous quarterly activities report, there has been a reduction in activities and detailed technical studies at the Aurora project have been deferred. The company is conserving funds and restricting work to essential studies and long lead issues such as permitting.

Aurora Uranium Project

Energy Ventures Limited December 2012 Quarterly Report

The Aurora uranium project is a volcanic?hosted uranium deposit located in the southeast part of Oregon, USA. Previous exploration on the deposit, including detailed drilling, shows that a significant uranium resource occurs within a near?surface, flat?lying zone of mineralisation that is potentially amenable to extraction by open pit methods.

The Aurora deposit has a total resource base of 38 Mlb eU3O81 comprising an Indicated Resource of

36.7 Mlb eU3O8 at a grade of 253 ppm eU3O8, and an Inferred Resource of 1.2 Mlb eU3O8 at a grade of

151 ppm eU3O8. The Indicated Resource includes a contiguous zone of mineralisation that contains

18 Mlb eU3O8 at a grade of 444 ppm eU3O8 (300 ppm eU3O8 cut?off grade) and occurs in the upper part of the

deposit.

During the December quarter work continued on the permitting process for the project.

Maybell Uranium Project

No work was undertaken at the Maybell project during the quarter.

Coyote Basin Uranium Project

No work was undertaking at the Coyote Basin project during the quarter.

Corporate Annual General Meeting

All resolutions put to shareholders at the Company's Annual General Meeting on 16 November 2012 were carried unanimously on a show of hands.

Employee Share Plan

All Directors of the Company have agreed to take a portion of their remuneration in equity. Shares offered to the Directors under this plan will be at the deemed issue price of 3.5 cents, in line with the pricing of the Entitlement Issue the Company conducted in February 2012. The total number of shares to be offered under the plan through to 30 September 2013 is 6,821,429.

The intention of implementing the Employee Share Plan was to reduce the cash costs of the Company at this time, thus allowing a greater proportion of the Company's cash reserves to be allocated to advancing the Company's projects.

Listed Investments

Energy Ventures holds a small equity interest, 4,500,000 shares, in African Energy Resources Limited (ASX, BSE: AFR), an ASX and BSE listed resources company focussed on exploration and development of energy projects in Africa. African Energy is currently advancing the development of a large deposit of thermal coal in Botswana.

Additionally the Company holds positions in Tasman Resources (TSXV: TSM) and Agricola Resources Plc.

1 The term eU3O8 refers to an equivalent uranium oxide grade that is based on the conversion of a radiometric gamma log determination of radioactive mineral abundance to a calculated uranium content. True U3O8 values are obtained from direct chemical assay results.

Bill Fry Executive Director

Energy Ventures Limited December 2012 Quarterly Report

The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the 'JORC Code') sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The information contained in this announcement has been presented in accordance with the JORC Code and references to "Measured", "Indicated" and "Inferred Resources" are to those terms as defined in the JORC Code.

Information in this report relating to exploration results is based on data compiled by Mr John Hasleby (a consultant to Energy Ventures), who is a member of The Australasian Institute of Mining and Metallurgy. Mr Hasleby 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 under the 2004 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. consents to the inclusion of the data in the form and context in which it appears.

For any further information, please refer to the Company's website (see www.energyventures.com.au) or contact the Company directly on [phone].

Energy Ventures Limited December 2012 Quarterly Report

Appendix 4C

Quarterly report for entities admitted on the basis of commitments

Rule 4.7B

Name of entity
ENERGY VENTURES LTD

ABN Quarter ended ("current quarter")
89 106 523 611 31 December 2012
Consolidated statement of cash flows

Cash flows related to operating activities

1.1 Receipts from customers
1.2 Payments for (a) staff costs
(b) advertising and marketing
(c) research and development
(d) leased assets
(e) other working capital
1.3 Dividends received
1.4 Interest and other items of a similar nature received
1.5 Interest and other costs of finance paid
1.6 Income taxes paid
1.7 Other (provide details if material)

Net operating cash flows 1.13 Total operating and investing cash flows (carried forward)

Energy Ventures Limited December 2012 Quarterly Report

Cash flows related to financing activities

1.14 Proceeds from issues of shares, options, etc.
1.15 Proceeds from sale of forfeited shares
1.16 Proceeds from borrowings
1.17 Repayment of borrowings
1.18 Dividends paid
1.19 Other (costs of issue)

Net financing cash flows

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
$US'000
1.24 Aggregate amount of payments to the parties included in item 1.2 67
1.25 Aggregate amount of loans to the parties included in item 1.11 ?

1.26 Explanation necessary for an understanding of the transactions: Payments include consulting fees, directors' fees, tenement, GIS management and provision of a fully serviced office by related party entities.
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 businesses in which the reporting entity has an interest
Nil

Energy Ventures Limited December 2012 Quarterly Report

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

3.1 Loan facilities
3.2 Credit standby arrangements
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.
Acquisitions and disposals of business entities
5.1 Name of entity
5.2 Place of incorporation or registration
5.3 Consideration for acquisition or disposal
5.4 Total net assets
5.5 Nature of business

Compliance statement

Energy Ventures Limited December 2012 Quarterly Report

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.

2 This statement does give a true and fair view of the matters disclosed.
Steven Jackson
Company Secretary
31 January 2013
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 definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below.

? 6.2 ? reconciliation of cash flows arising from operating activities to operating profit or loss

? 9.2 ? itemised disclosure relating to acquisitions

? 9.4 ? itemised disclosure relating to disposals

? 12.1(a) ? policy for classification of cash items

? 12.3 ? disclosure of restrictions on use of cash

? 13.1 ? comparative information

3. 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.