The Company announces that the first milestone has been reached in terms of the Performance Shares issued to management in accordance with the Executive Incentive Plan.  Consequently a total of 603,750 performance shares for Directors, Simon McDonald and John Feenan and for Exploration Manager, Justin Baulch (individually 201,250 performance shares each) have been converted to ordinary shares.

Following receipt of conversion notices on 5 December 2007, the Company has on 17 December 2007  issued and allotted 201,250 shares ordinary shares of 0.5p respectively to each of the afore mentioned recipients.  Following the issue of these shares, the Company will have 66,045,813 ordinary shares in issue and application will be made for the shares to be admitted to trading on AIM.

Following the conversion of the above performance shares, Simon McDonald and John Feenan will have the following interests in the Company:

For further information please contact: 

Simon McDonald (Neptune MD and CEO):                                   T: +61 (0) 2 9957 5244
By email to the Company                                                                  This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Richard Hail (Fox Davies Capital Limited, Broker):                     T: +44 (0) 20 7936 5200

Fiona Owen (Grant Thornton Corporate Finance, Nomad):      T: +44 (0) 20 7383 5100

Rozanne Ichikowitz (Grant Thornton Sydney):                              T: +61 (0) 2 8297 2522

Nadja Vetter / Matthew Law (Cardew Group, PR):                       T: +44 (0) 20 7930 0777