Nido Petroleum : Entitlement Offer - Despatch of Offer Booklet

ABN 65 086 630 373‌

2 November 2016

ASX ANNOUNCEMENT Pro-rata Renounceable Entitlement Offer - Despatch of Offer Booklet

Nido Petroleum Limited (ASX: NDO) is pleased to advise that the Offer Booklet for the Pro-rata Renounceable Entitlement Offer as announced on Friday, 21 October 2016 (Entitlement Offer) and the personalised Entitlement and Acceptance Forms have been despatched to Eligible Shareholders today.

As previously advised, the Entitlement Offer will be conducted in accordance with the following indicative timetable:

Event	Date
Announcement of the Entitlement Offer	Friday 21, October 2016
Despatch notice to Shareholders	Monday 24, October 2016
Ex date and Entitlement trading commences	Wednesday, 26 October 2016
Record Date for eligibility in the Entitlement Offer (7pm)	Thursday, 27 October 2016
Offer Booklet despatched, Entitlement Offer opens	Wednesday, 2 November 2016
Entitlement trading ends	Tuesday, 22 November 2016
New Shares quoted on a deferred settlement basis	Wednesday, 23 November 2016
Last day to extend the Entitlement Offer closing date	Thursday, 24 November 2016
Entitlement Offer closing date (5pm)	Tuesday, 29 November 2016
Nido notifies ASX of under subscriptions	Friday, 2 December 2016
Shortfall allocations completed	Friday, 2 December 2016

Perth Office Registered Office | Level 3, 1 Preston Street Como WA 6152 | P: [phone] F: [phone] | www.nido.com.au

Manila Office 4F Zaragosa Building, 102 Gamboa Street, Legaspi Village, Makati City, 1229, Philippines | P: [phone] F: + 63 2 773 2701

Event	Date
Issue New Shares issued under the Entitlement Offer	Tuesday, 6 December 2016
Trading of New Shares on a normal settlement basis	Wednesday, 7 December 2016
Despatch of holding statements for New Shares	Friday, 9 December 2016

All times and dates above refer to Australian Eastern Daylight Time (AEDT).

For further information please contact:

Mike Fischer Managing Director

[phone]

[e-mail]

Join our electronic mailing list and find more information about Nido Petroleum at: www.nido.com.au

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www.nido.com.au

NIDO PETROLEUM LIMITED‌ ABN 65 086 630 373

ENTITLEMENT OFFER

AN 11.2 FOR 1 RENOUNCEABLE PRO RATA ENTITLEMENT OFFER OF NIDO PETROLEUM LIMITED (NIDO) FULLY PAID ORDINARY SHARES (NEW SHARES) AT AN ISSUE PRICE OF $0.065 PER NEW SHARE TO RAISE APPROXIMATELY $31.9 MILLION (BEFORE COSTS) (ENTITLEMENT OFFER). THIS ENTITLEMENT OFFER CLOSES AT 5PM (AEDT) ON 29 NOVEMBER 2016 (UNLESS OTHERWISE EXTENDED).

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS

This Offer Booklet requires your immediate attention. It is an important document which is accompanied by a personalised Entitlement and Acceptance Form for you to subscribe for New Shares in Nido. Please read both documents carefully and in their entirety.

This Offer Booklet is not a prospectus under the Corporations Act 2001 (Cth) (Corporations Act) and has not been lodged with the Australian Securities and Investments Commission (ASIC).

Please consult your stockbroker, accountant or other independent professional adviser if you have any questions in relation to the Entitlement Offer.

IMPORTANT NOTICES1

Defined terms used in this Offer Booklet and the Entitlement and Acceptance Form are defined in the Glossary at the end of this Offer Booklet.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS

This Offer Booklet and the Entitlement and Acceptance Form have been prepared by Nido. This Offer Booklet and the Entitlement and Acceptance Form are important and require your immediate attention. You should read these documents carefully and in their entirety before deciding whether or not to participate in the Entitlement Offer.

Currency

Unless otherwise stated, all dollar values in this Offer Booklet are in Australian dollars (A$).

Time and date

Unless otherwise specified, all references to time in this Offer Booklet and the Entitlement and Acceptance Form are references to Australian Eastern Daylight Time, and all references to dates are to dates calculated in accordance with Australian Eastern Daylight Time. That is, such references will be to the time and date in Sydney, New South Wales, Australia.

Future performance and forward looking statements

This Offer Booklet contains certain 'forward looking statements'. Forward looking statements can generally be identified by the use of forward looking words such as 'expect', 'anticipate', 'likely', 'intend', 'propose', 'should', 'could', 'may', 'predict', 'plan', 'will', 'believe', 'forecast', 'estimate', 'target', and other similar expressions within the meaning of securities laws of applicable jurisdictions and include, but are not limited to, the outcome and effects of the Entitlement Offer and the use of the proceeds.

The forward looking statements contained in this Offer Booklet involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Nido, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct.

Please refer to section 7 of this Offer Booklet for a summary of certain general and Nido specific risk factors that may affect Nido. There can be no assurance that actual outcomes will not differ materially from these forward looking statements. A number of important factors could cause actual results or performance to differ materially from the forward looking statements. Investors should consider the forward looking statements contained in this Offer Booklet in light of those disclosures.

The forward looking statements are based on information available to Nido as at the date of this Offer Booklet. Except as required by law or regulation (including the ASX Listing Rules), Nido undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise.

Investment Decisions

The information in this Offer Booklet is general information only, does not constitute a securities recommendation or financial product advice, and has been prepared without taking into account the investment objectives, financial situation, taxation position or particular needs of any person. This Offer Booklet and the Entitlement and Acceptance Form should be read in conjunction with Nido's other periodic and continuous disclosure announcements to the ASX available at www.nido.com.au.

There are a number of risk factors that could potentially impact Nido. For information about these risks, please read section 7 of this Offer Booklet. The potential tax effects of the Entitlement Offer will vary between investors. All investors should satisfy themselves of any possible tax consequences by consulting their own professional tax adviser before

deciding whether or not to participate in the Entitlement Offer. All investors should consult with their stockbroker, accountant or other independent professional adviser to evaluate whether or not to participate in the Entitlement Offer.

Not a prospectus

Neither this Offer Booklet nor the Entitlement and Acceptance Form is a prospectus or product disclosure statement for the purposes of the Corporations Act. Accordingly, these documents do not contain all of the information which a prospective investor may require to make an investment decision. They do not and are not required to contain all of the information which would otherwise be required to be disclosed in a prospectus or product disclosure statement. They are not required to be, and will not be, lodged with ASIC.

U.S. investors

This Offer Booklet (including the accompanying ASX Entitlement Offer Announcement and Investor Presentation) and the Entitlement and Acceptance Form do not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of, any 'U.S. person' under the Securities Act. The New Shares offered in the Entitlement Offer have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. Persons absent registration or in a transaction exempt from or not subject to the registration requirements of the Securities Act.

1 Please read the Investor Presentation attached to this Offer Booklet for other important notices, disclaimers and acknowledgements.

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