Creditorsresolved to wind up BandannaEnergy Ltd. and their subsidiaries at their second meeting heldMarch 30, the company said March 31.

The liquidatorsalso said there will unlikely be a return to shareholders.

MartinFord, Grant Sparks and Philip Carter of PPB Advisory acted as liquidators ofthe company and its subsidiaries.

A meetingin respect of Springsure CreekCoal Pty. Ltd. was adjourned for up to 45 business days to considera potential deed of company arrangement proposal.

Meetings inrespect of DJB Coal Pty.Ltd. and TraditionalOil Exploration Pty. Ltd., on the other hand, were adjourned due toa lack of quorum.