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1 AND CONTROLLED ENTITIES ABN INTERIM FINANCIAL REPORT

2 CONTENTS TO THE INTERIM FINANCIAL REPORT Corporate Information. 2 Directors Report Statement of Profit or Loss and Other Comprehensive Income. 6 Statement of Financial Position. 7 Statement of Cash Flows... 8 Statement of Changes in Equity... 9 Notes to the Financial Statements 10 Directors Declaration. 15 Auditor s Independence Declaration Independent Auditor s Review Report Competent Person Statement The information in this report which relates to Exploration Results and Mineral Resources is based on information compiled by Mr Dmitry Pertel, Mr Robert Annett and Dr Maxim Seredkin, who are Members of the Australian Institute of Geosciences ( AIG ). Mr Pertel and Dr Seredkin are employed by CSA Global Pty Ltd, and Mr Annett is a non-executive Director of Anatolia Energy Ltd. Mr Pertel, Mr Annett and Dr Seredkin have over 20 years of exploration and mining experience in a variety of mineral deposit styles, and have 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 as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Pertel, Mr Annett and Dr Seredkin consent to inclusion in this report of the matters based on their information in the form and context in which it appears. The information in this report which relates to Hydrogeological Results includes information compiled by Mr Errol Lawrence who is a director of HydroSolutions- of Denver Colorado, USA. Mr Lawrence is a Professional Hydrologist in the State of Colorado and is a licensed geologist in the States of Wyoming and Texas. Mr Lawrence has over 30 years experience as a geologist and hydrogeologist and has extensive direct experience with similar types of deposits and in the preparation of hydrogeological analyses, and sufficient experience to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Lawrence consents to inclusion in this release of the matters based on their information in the form and context in which it appears. The information in this report which relates Plant and Well field Engineering is based on information compiled by Mr Thomas Young who at the effective date of the Pre-feasibility Study was employed by Tetra Tech Inc. Mr Young is a Professional Engineer in the State of Colorado and is a member of a Recognised Overseas Professional Organisation (ROPO) as listed by the ASX. Mr Young has over 30 years 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 as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Young consents to inclusion in this release of the matters based on their information in the form and context in which it appears. The information in this report which well field geology is based on information compiled by Mr Stephen Lumford who at the effective date of the Pre-feasibility Study is a consultant to Tetra Tech Inc.. Mr Lumford is a Professional Geologist in the State of Wyoming and is a member of a Recognised Overseas Professional Organisation (ROPO) as listed by the ASX. Mr Lumford has over 40 years 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 as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Lumford consents to inclusion in this release of the matters based on their information in the form and context in which it appears. Page 1 of 18

3 CORPORATE INFORMATION Directors Dr Hikmet Akin Mr Paul Cronin Mr Robert Annett Mr Patrick Burke Auditors Moore Stephens Level 3 12 St Georges Terrace Perth WA 6000 Share Registry (Non-Executive Chairman) (Managing Director) (Non-Executive Director) (Non-Executive Director) Computershare Investor Services Level 2 Reserve Bank Building 45 St George s Terrace Perth WA 6000 Tel: FAX: (08) Company Secretary Mr Scott Mison Registered Office Unit 3 80 Colin Street West Perth WA 6005 Tel: (08) Fax: (08) Head Office Unit 3 80 Colin Street West Perth WA 6005 Tel: (08) Fax: (08) Principal Place of Business Unit 3 80 Colin Street West Perth WA 6005 Tel: (08) Fax: (08) Company Website Page 2 of 18

4 DIRECTORS REPORT The Directors of Anatolia Energy Limited ( the Company ) present the following report for the half-year ended 31 December DIRECTORS The names of the Company s Directors in office during the half-year and until the date of this report are as below. Directors were in office for this entire period unless otherwise indicated. Mr Paul Cronin (Managing Director / CEO) Dr Hikmet Akin (Non-Executive Chairman) Mr Robert Annett (Non-Executive Director) Mr Patrick Burke (Non-Executive Director) (Appointed 21 July 2014) Mr James Graham (Managing Director) (Resigned 7 November 2014) REVIEW AND RESULTS OF OPERATIONS Turkish Uranium Project Activities Temrezli Site A substantial program of work continued throughout the entirety of the reporting period at the Company s flagship Temrezli Uranium Project. The program included advanced mineral resource, metallurgical and hydrological studies as well as environmental and social impact assessments that have been incorporated into the Pre-Feasibility Study that was released on 16 February A hydrogeological test program was undertaken with encouraging results. The Company also completed an extensive background radiation monitoring program. It was designed to quantify the pre-construction and pre-operational radiological conditions over the entire Project area. The average baseline radionuclide concentrations in environmental media as well as their natural variability will be used to assess the potential radiological impacts of the ISR facility during operation and to guide post-operations reclamation of the area. Concurrently the Company commenced its baseline Social Impact Assessment as part of the ESIA. To assist these activities the Company has established a dedicated office in the nearby town of Sorgun which will facilitate Adur staff to conduct consultation meetings with the local community, and facilitate the distribution of information package(s) to both interested parties and the wider community including local government agencies. Sefaatli Site At Sefaatli, two rigs were mobilised to site in October 2014 to undertake a combination of both in-fill and step-out drilling at the Deliler and Tulu Tepe prospects in the Sefaatli region. Drilling in the 1980s discovered the largest extent of uranium mineralisation outside of the Company s flagship Temrezli uranium deposit. Given the proximity of Sefaatli to Temrezli, there is strong potential for Sefaatli to evolve into a satellite operation that supplements the planned development of the Temrezli Uranium Project. Post-December 2014 Hydrogeological drilling and pumping test work which commenced late in Q returned, in January 2015, very encouraging results from one deep and two shallow monitoring wells drilled at Site B. Data collected from the hydrologic tests will be used to further the conceptual hydrogeological model of the deposit and to redevelop numerical models being utilised by Tetra Tech for detailed well field planning. The hydrogeological work represents some of the final components to the Temrezli PFS. In mid-january the Company received very encouraging results from MTA s ISR alkaline leach agitation test work on 14 intervals of core sample material from the Company s Temrezli uranium deposit. The samples were collected from wide spaced drilling in the northeast of the deposit which contains over 65% of the resource. The material was selected from lenses 1 to 5 which are the most laterally continuous. Page 3 of 18

5 DIRECTORS REPORT REVIEW AND RESULTS OF OPERATIONS (continued) Pre-feasibility study The Company released the pre-feasibility study on the Temrezli Uranium Project on 16 February Set out below are the highlights: Independent, PFS-level (N.I compliant) engineering study by Tetra Tech Inc. confirms outstanding financial returns offered by the Temrezli ISR Uranium Project o Development case NPV8% of US million (A million) pre-tax. o Cash operating costs of US 16.89/lb of U308. o o Projected life of mine gross revenue of US644.0 million (A million) and operating cash flow of US million (A million) based on US65/lb uranium price. Initial capital cost of US 41.0 million including US 4.3 million in contingencies. o Total uranium recovery (Development Case) of 9.9 million lbs. U308. o Project payback occurs within the first 11 months. Temrezli confirmed to be technically low risk, and highly profitable driven by its high grade, low capex and low operating costs which will position Anatolia as one of the lowest cost uranium producers in the world. Significant leverage to the uranium price. Sensitivity analysis indicates that every 5/lb increment in the uranium price increases pre-tax NPV by US 27.8 million. Potential to further bolster project economics and project life through future integration of satellite mining opportunities such as Anatolia s 100% owned Sefaatli Project. Detailed plant engineering to commence potentially allowing for savings in plant capital, via the substitution of US suppliers with Turkish suppliers, and reduction of contingencies applied. Mining exploration expenditure incurred during the period was 2,946,162 and total expenditure capitalised to date is 20,472,176. Corporate Matters On 13 August 2014 the Company announced that it had agreed to amend the Azarga Resources Put Option Agreement (Agreement) on the basis that Azarga Resources (Azarga) pay 375,000 to the Company in consideration for substituting the Agreement for a call option arrangement that required Azarga to subscribe for million call options, exercisable at 8.0 cents and having an expiry date of 31 March 2015, at an issue price of 0.5 cents per call option to raise 41,667. The funds have been received in full and the million 8.0 cent call options were issued on 14 August On 27 August 2014 the Company announced that it had received commitments to raise 6.0 million (before costs) through the issue of up to 75 million fully paid ordinary shares (Shares) at 8.0 cents, with 1 for 2 attaching options exercisable at 12.0 cents and having an expiry of 30 September 2016 (Placement). Utilising the Company s full capacity to issue shares under ASX Listing Rules 7.1 and 7.1A, a total of 50 million Shares, raising 4.0 million before costs (Tranche 1), were issued on 3 September At the 8 October 2014 general meeting shareholders approved both the Tranche 2 issue of Shares and 12 cent option and ratification of the prior issue of Tranche 1 Shares under the Placement, and the issue of 1.0 million 12 cent incentive options pursuant to the Company s Non-Executive Incentive Option plan to director Patrick Burke. The Tranche 2 Shares and 12 cent attaching options were issued on the 16 October 2014 and raised 2.0 million before costs. The Company s AGM was held on 19 November All resolutions put to the meeting were passed without dissent including, inter alia, the re-election of Dr Hikmet Akin and Mr Robert Annett as directors, the election of Mr Paul Cronin and Mr Patrick Burke as directors, approval of the 10% placement capacity, and replacement of the Company s constitution. Page 4 of 18

6 DIRECTORS REPORT The consolidated entity s net operating loss after providing for income tax for the half-year amounted to 933,214 (halfyear 2013: loss of 713,435). AUDITOR S INDEPENDENCE DECLARATION Section 307C of the Corporations Act 2001 requires the Company s auditors, Moore Stephens, to provide the Directors with a written independence declaration in relation to their review of the financial report for the half-year ended 31 December The written auditor s independence declaration is attached at page 16 and forms part of this Director s report. Dated at Perth 12 March Signed in accordance with a resolution of the Directors. Dr Hikmet Akin Chairman Page 5 of 18

7 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 31 December December 2013 Interest received 40,829 25,542 Other income 341, ,178 25,542 Consulting fees (329,621) (91,652) Directors fees (93,979) (89,162) Legal fees (10,007) (27,891) Travel expenses (78,633) (62,612) Other expenses (803,152) (465,293) Loss before income tax and finance costs (933,214) (711,068) Finance costs - (3,523) Loss before income tax expense (933,214) (714,591) Income tax expense - - Loss after income tax expense (933,214) (714,591) Net loss for the period attributable to the members of Anatolia Energy Limited (933,214) (714,591) Loss attributable to minority equity interest - 1,156 Loss attributable to parent entity (933,214) (713,435) Other comprehensive income Items that may be reclassified subsequently to profit or loss Exchange differences on translating foreign operations 764, ,019 Total comprehensive loss for the period (168,490) (474,416) Loss per share attributable to the ordinary equity holders of the company: - Basic & diluted earnings per share (0.3631) (0.3646) Page 6 of 18

8 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Current Assets Note As at 31 December 2014 As at 30 June 2014 Cash and cash equivalents 2 4,300,984 1,167,851 Trade and other receivables 78,929 57,179 Other assets 35,401 50,055 Total Current Assets 4,415,314 1,275,085 Non-Current Assets Trade and other receivables 704, ,309 Exploration and evaluation assets 3 20,472,176 17,698,795 Plant and equipment 75,854 85,863 Total Non-Current Assets 21,252,157 18,251,967 Total Assets 25,667,471 19,527,052 Current Liabilities Trade and other payables 850, ,692 Provisions 14,338 8,238 Total Current Liabilities 864, ,930 Total Liabilities 864, ,930 Net Assets 24,802,576 19,217,122 Equity Contributed equity 4 62,339,173 56,688,422 Reserves 3,793,121 2,925,204 Accumulated losses (41,388,800) (40,455,586) Parent interest 24,743,494 19,158,040 Minority interest 59,082 59,082 Total Equity 24,802,576 19,217,122 Page 7 of 18

9 CONSOLIDATED STATEMENT OF CASH FLOWS Cash flows from operating activities Note 31 December December 2013 Payments to suppliers and employees (160,066) (751,156) Net cash flows used in operating activities (160,066) (751,156) Cash flows from investing activities Interest received 40,829 62,677 Proceeds from sale of financial instrument 375,000 - Purchase of plant and equipment - (21,641) Exploration and evaluation costs (2,773,381) (2,056,821) Net cash flows used in investing activities (2,357,552) (2,015,785) Cash flows from financing activities Proceeds from issue of shares 6,000,000 4,200,000 Cost of capital raising (349,249) (238,551) Net cash flows from financing activities 5,650,751 3,961,449 Net increase/(decrease) in cash and cash equivalents 3,133,133 1,194,508 Cash and cash equivalents at the beginning of the period 1,167,851 1,392,762 Cash and cash equivalents at the end of the period 2 4,300,984 2,587,270 Page 8 of 18

10 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Note Contributed Equity Option Premium Reserve Options Reserve Foreign Currency Translation Reserve Accumulated Losses Minority Equity Interests Total Equity At 1 July ,688,422-2,676, ,585 (40,455,586) 59,082 19,217,122 Contributions of equity 4 6,000,000 41, ,041,667 Costs of capital raising (349,249) (349,249) Share-based payment expense , ,526 Other comprehensive income , ,724 Loss attributable to minority shareholders Loss for the period (933,214) - (933,214) Total income/expense for the period (933,214) - (933,214) At 31 December ,339,173 41,667 2,738,145 1,013,309 (41,388,800) 59,082 24,802,576 At 1 July ,794,473-2,340, ,620 (38,329,433) 61,628 16,142,943 Contributions of equity 4 4,200, ,200,000 Costs of capital raising (238,550) (238,550) Share-based payment expense - - 1, ,106 Other comprehensive income , ,016 Loss attributable to minority shareholders (1,156) (1,156) Loss for the period (713,435) - (713,435) Total income/expense for the period (713,435) - (713,435) At 31 December ,755,923-2,341, ,636 (39,042,868) 60,472 19,629,924 Page 9 of 18

11 NOTES TO THE FINANCIAL STATEMENTS 1. Summary of significant accounting policies (a) Basis of preparation of the half-year financial report The general purpose condensed financial report for the half-year ended 31 December 2014 has been prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act The half-year financial report does not include all notes of the type normally included within the annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the consolidated entity as the full financial report. It is recommended that the half-year report is read in conjunction with the annual financial report for the year ended 30 June 2014 and considered together with any public announcements made by Anatolia Energy Limited during the half-year ended 31 December 2014 in accordance with the continuous disclosure obligations of the ASX listing rules. (b) Significant accounting policies Apart from the changes in the accounting policy noted below, the accounting policies and methods of computation are the same as those adopted in the most recent annual financial report. (c) New and revised accounting requirements applicable to the current half-year reporting period The Group has considered the implications of the new or amended Accounting Standards applicable to the Group for the first time in the current half-year reporting period 1 July 2014 to 31 December 2014 but determined that their application to the financial statements is either not relevant or not material. (d) Principles of consolidation The parent entity and its subsidiaries are collectively referred to as the Group. The parent of this Group is Anatolia Energy Ltd. Entities (including structured entities) over which the parent (or the Group) directly or indirectly exercises control are called subsidiaries. The consolidated financial statements incorporate the assets, liabilities and results of all subsidiaries. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The assets, liabilities and results of subsidiaries are fully consolidated into the financial statements of the Group from the date on which control is obtained by the Group. The consolidation of a subsidiary is discontinued from the date that control ceases. Intercompany transactions, balances and unrealised gains or losses on transactions between group companies are fully eliminated on consolidation. Accounting policies of subsidiaries have been changed and adjustments made where necessary to ensure uniformity of the accounting policies adopted by the Group. Equity interests in a subsidiary not attributable, directly or indirectly, to the Group are referred to as noncontrolling interests. The Group recognises any non-controlling interests in subsidiaries on a case-by-case basis either at fair value or at the non-controlling interests proportionate share of the subsidiary s net assets. Noncontrolling interests are shown separately within the equity section of the statement of financial position and statement of profit or loss and other comprehensive income. Page 10 of 18

12 NOTES TO THE FINANCIAL STATEMENTS 2. Cash and cash equivalents For the purposes of the Statement of Cash Flows, cash and cash equivalents comprises the following: 31 December June 2014 Cash at bank and on hand 4,300,984 1,167, Exploration and evaluation assets 31 December June 2014 Exploration and evaluation assets 20,472,176 17,698,795 Movements during the year in exploration and evaluation assets Balance as at 1 July ,698,795 Add: Expenditure incurred during the period 2,946,162 Less: Impairment due to mining tenements not renewed (172,781) Balance at 31 December ,472, Issued capital Issued and paid-up capital Number Ordinary Shares As at 1 July ,741,169 56,688,422 Share placements 75,000,000 6,000,000 Share issue costs (349,249) As at 31 December ,741,169 62,339,173 During the period the Company raised 6,000,000 (before costs) from the following: (a) On 3 September 2014, the Company issued 50,000,000 fully paid ordinary shares at 8c per share. (b) On 8 October 2014, the Company issued 25,000,000 fully paid ordinary shares at 8c per share. Page 11 of 18

13 NOTES TO THE FINANCIAL STATEMENTS 4. Issued capital (continued) Number Listed Options As at 1 July ,917,750 - As at 31 December ,917,750 - Listed options are exercisable at 0.18 with an expiry date of 15 June Unlisted Options vested and exercisable Number As at 1 July ,234,000 - Options issued 45,833,333 41,667 Options expired (84,000) - As at 31 December ,983,333 41,667 (i) Unlisted options on issue are exercisable as follows: 400,000 options exercisable at 0.08 with an expiry date of 30 November These options were issued pursuant to shareholder approval at the Annual General Meeting held on 30 November 2012 and are fully vested. 1,000,000 options exercisable at with an expiry date of 30 November These options were issued pursuant to shareholder approval at the Annual General Meeting held on 30 November 2012 and fully vested on 1 August ,750,000 options exercisable at 0.05 with an expiry date of 28 November These options were issued pursuant to the Company s Executive and Non-Executive Incentive Options Plan on 23 January 2014 following approval in the Company s Annual General Meeting on 29 November ,333,333 options exercisable at 0.08 with an expiry date of 31 March These options were issued for cash in consideration for Azarga Resources agreeing to amend the Put Option Agreement. 37,500,000 options exercisable at 0.12 with an expiry date of 30 September These options were issued as part of the share placement undertaken in October (ii) Unlisted options expired as follows: 84,000 options exercisable at 0.18 with an expiry date of 14 November (iii) Unlisted options unvested 1,000,000 options exercisable at 0.12 with an expiry date of 8 October These options were issued pursuant to the Company s Executive and Non-Executive Incentive Options Plan on 8 October 2014 following approval in the Company s General Meeting on 8 October Page 12 of 18

14 NOTES TO THE FINANCIAL STATEMENTS 4. Issued capital (continued) Number A Class Performance Shares As at 1 July ,692,202 - As at 31 December ,692,202 - D Class Performance Shares Number As at 1 July As at 31 December Financial Instruments The fair values of financial assets and financial liabilities, together with the carrying amounts in the consolidated statement of financial position, are as follows: Current financial assets Carrying Amount Fair Value Cash and cash equivalents 4,300,984 4,300,984 Trade and other receivables 78,929 78,929 Total financial assets 4,379,913 4,379,913 Current financial liabilities Trade and other payables 850, ,557 Total financial liabilities 850, ,557 The Group s financial risk management objectives and policies are consistent with those disclosed in the consolidated financial statements for the year ended 30 June Dividends paid and proposed No dividends were paid or proposed during the period (2013: nil). 7. Events after balance sheet date Significant activities which occurred after the reporting date include: - On 16 February 2015, the Company released the Pre-Feasibility Study on the Temrezli Uranium Project. Page 13 of 18

15 NOTES TO THE FINANCIAL STATEMENTS 7. Events after balance sheet date (continued) - On 10 March 2015, the Company issued 2,500,000 unlisted options on the following terms: 500,000 options with an exercise price of 0.09, expiring 28 February 2019; 1,000,000 options with an exercise price of 0.08, expiring 20 January 2020; and 1,000,000 options with an exercise price of 0.08, expiring 6 March Other than the matters discussed above, there has not arisen in the interval between the end of the financial year and the date of this report any matters or circumstances which significantly affected or could significantly affect the operations of the consolidated group, the results of the operations, or the state of affairs of the consolidated group in future financial years. 8. Commitments The Group has no commitments as at 31 December Segment Information During the half year ended 31 December 2014, the Group only operated in one operating segment, being minerals exploration in Turkey Page 14 of 18

16 DIRECTORS DECLARATION In accordance with a resolution of the Directors of Anatolia Energy Limited, I state that: In the opinion of the Directors: (a) the financial statements and notes of the consolidated entity are in accordance with the Corporations Act 2001 including: (i) giving a true and fair view of the consolidated entity's financial position as at 31 December 2014 and of its performance for the half-year ended on that date; and (ii) complying with Accounting Standard AASB 134 Interim Financial Reporting and Corporations Regulations 2001; and (b) there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. Perth 12 March 2015 On behalf of the Board Dr Hikmet Akin Chairman Page 15 of 18

17 Level 3, 12 St Georges Terrace Perth WA 6000 PO Box 5785, St Georges Terrace WA 6831 T +61 (0) F +61 (0) AUDITOR S INDEPENDENCE DECLARATION UNDER S307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF ANATOLIA ENERGY LIMITED As lead auditor for the review of Anatolia Energy Limited for the half-year ended 31 December 2014, I declare that, to the best of my knowledge and belief, there have been: no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and no contraventions of any applicable code of professional conduct in relation to the review. Suan-Lee Tan Partner Moore Stephens Chartered Accountants Signed at Perth this 12 th day of March 2015 Page 16 of 18

18 Level 3, 12 St Georges Terrace Perth WA 6000 PO Box 5785, St Georges Terrace WA 6831 T +61 (0) F +61 (0) INDEPENDENT AUDITOR S REVIEW REPORT TO THE MEMBERS OF AND ITS CONTROLLED ENTITIES Report on the Half-year Financial Report We have reviewed the accompanying half-year financial report of Anatolia Energy Limited which comprises the consolidated condensed statement of financial position as at 31 December 2014, the consolidated condensed statement of profit or loss and other comprehensive income, consolidated condensed statement of changes in equity, the consolidated condensed statement of cash flows for the half-year ended on that date, notes comprising a summary of significant accounting policies and other explanatory information and the directors declaration. Directors Responsibility for the Half-Year Financial Report The directors of Anatolia Energy Limited are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that is free from material misstatement, whether due to fraud or error. Auditor s Responsibility Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410: Review of a Financial Report Performed by the Independent Auditor of the Entity, in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of Anatolia Energy Limited s financial position as at 31 December 2014 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations As the auditor of Anatolia Energy Limited, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report. A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Independence In conducting our review, we have complied with the independence requirements of the Corporations Act We confirm that the independence declaration required by the Corporations Act, which has been given to the directors of Anatolia Energy Limited, would be in the same terms if provided to the directors as at the time of this auditor s review report. Page 17 of 18

19 Conclusion Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Anatolia Energy Limited is not in accordance with the Corporations Act 2001 including: (i) giving a true and fair view of the consolidated entity s financial position as at 31 December 2014 and of its performance for the half-year ended on that date; and (ii) complying with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations Suan-Lee Tan Partner Moore Stephens Chartered Accountants Signed at Perth this 12 th day of March 2015 Page 18 of 18