FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Director's Dealing 2014

Jun 22, 2014

Appendix 3Y Change of Director’s Interest Notice

Appendix 3Y

Rule 3.19A.2

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Tellus Resources Limited ABN 35 144 733 595

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Carl Dorsch
Date of last notice	29 August 2013

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” shou ld be disclosed in this part.

Direct or indirect interest	Indirect Interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Dorsch Consultants Pty Ltd as trustee for Dorsch Family Trust – Carl Dorsch is a director and shareholder of Dorsch Consultants Pty Ltd. CNP Energy Pty Ltd – Carl Dorsch holds a relevant interest (23.88%) in CNP Energy Pty Ltd
Date of change	20 June 2014

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change Dorsch Consultants Pty Ltd as trustee for Dorsch Family Trust held the following securities:

45,000,000 performance options over ordinary shares subject to Carl Dorsch remaining employed as managing director of the Company. These options convert into fully paid ordinary shares in the Company on a 1:1 ratio, for Nil consideration as follows:

• 5,000,000 where the 30 day volume weighted average price (VWAP) for the ordinary shares of the Company reaches at least $0.175 per share

• 5,000,000 where the 30 day VWAP for the ordinary shares of the Company reaches at least $0.20 per share

• 5,000,000, where the 30 day VWAP for the ordinary shares of the Company reaches least $0.225 per share;

• 15,000,000, when production testing of PEL 105 in either open or closed hole that can demonstrate an immediate flow capacity for the well in excess of a sustained minimum 100 BOEPD for a period in excess of 7 days. Such test must be certified by a relevant expert in the field being either an independent consulting reservoir engineer or the contracted testing company, provided that such threshold is achieved on or prior to 31 December 2014; and

• 15,000,000 where the Company has acquired a direct or indirect interest in the Wichita County Project and the production from the leases which form the Wichita County Project reaches an average of 50BOEPD over a three month period.

• CNP Energy Pty Ltd holds the following securities: 17,000,000 fully paid ordinary shares

• Class Fully paid ordinary shares

Number acquired	Dorsch Consultants Pty Ltd as trustee for Dorsch Family Trust acquired 300,000 fully paid ordinary shares.
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$15,000.00
No. of securities held after change	Dorsch Consultants Pty Ltd as trustee for Dorsch Family Trust held the following securities: 300,000 fully paid ordinary shares 45,000,000 performance options over ordinary shares subject to Carl Dorsch remaining employed as managing director of the Company. These options convert into fully paid ordinary shares in the Company on a 1:1 ratio, for Nil consideration as follows:  5,000,000 where the 30 day volume weighted average price (VWAP) for the ordinary shares of the Company reaches at least $0.175 per share  5,000,000 where the 30 day volume weighted average price (VWAP) for the ordinary shares of the Company reaches at least $0.20 per share  5,000,000, where the 30 day VWAP for the ordinary shares of the Company reaches at least $0.225 per share;  15,000,000, when production testing of PEL 105 in either open or closed hole that can demonstrate an immediate flow capacity for the well in excess of a sustained minimum 100 BOEPD for a period in excess of 7 days. Such test must be certified by a relevant expert in the field being either an independent consulting reservoir engineer or the contracted testing company, provided that such threshold is achieved on or prior to 31 December 2014; and  15,000,000 where the Company has acquired a direct or indirect interest in the Wichita County Project and the production from the leases which form the Wichita County Project reaches an average of 50BOEPD over a three month period.

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 3

No. of securities held after change (continued)	CNP Energy Pty Ltd holds the following securities: 17,000,000 fully paid ordinary shares
Nature of Change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market purchase of shares at $0.05 per share

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	N/A
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 4