FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Capital/Financing Update 2014

Oct 7, 2014

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ASX Release

8 October 2014

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CARAVEL ENERGY LIMITED ACN 119 047 693

Level 1 330 Churchill Avenue Subiaco WA 6008

Tel: +61 8 9200 4268 Fax: +61 8 9200 4469

Contact: Mr Brian McMaster Chairman

E-mail: info@caravelenergy.com.au

COMPLETION OF SALE AGREEMENT WITH TELLUS RESOURCES LIMITED

Caravel Energy Limited (“ Caravel ”) is pleased to announce the satisfaction of all conditions precedent regarding the sale of its 25% interest in PetroMad Mauritius Limited (“ PetroMad ”).

Tellus Resources Limited (“ Tellus ”) has issued 79 million Tellus shares (of which 54 million were issued to Caravel and the other 25 million to certain unrelated nominated Caravel creditors). A further 6 million Tellus shares are to be issued to Caravel immediately following the in specie distribution of the 54 million Tellus shares to Caravel shareholders.

The Record Date for the in-specie distribution is 5.00 pm WST on 1 October 2014. Caravel will now proceed to distribute 54 million Tellus shares directly to eligible Caravel shareholders, on the basis of 1 Tellus share for every 15.29 Caravel shares held. Shareholders will receive written notification in due course.

Brian McMaster Chairman CARAVEL ENERGY LIMITED

Directors: Matthew Wood Brian McMaster Roseline Rasolovoahangy

Issued Capital: 825.84 shares

ASX Symbol : CRJ

www.caravelenergy.com.au

Level 1/330 Churchill Avenue, Subiaco WA 6008 P.O. Box 540, Subiaco WA 6904, Australia Ph: +61 8 9200 4468, Fax: +61 8 9200 4469

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