FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Investor Presentation 2014

Nov 11, 2014

==> picture [581 x 115] intentionally omitted <==

----- Start of picture text -----

12 November 2014
----- End of picture text -----

MD on Utah exploration well spud and outlook

Open Briefing interview with MD Carl Dorsch

==> picture [163 x 54] intentionally omitted <==

Tellus Resources Ltd Level 5, 70 Pirie St Adelaide SA, 5000

Tellus Resources (ASX: TLU) is an Australian listed oil exploration company with interest in three significant conventional oil exploration projects on three continents. In Utah USA, (CMJV); In Madagascar, Block 3114 (10,160km2) located in the Morondava Basin - a 25% interest with the possibility of increasing that interest to 80%; In Australia, PEL 105 (now converted to three PRLs) is an exciting, highly prospective block of 219.6 square kilometres located in the Cooper Basin in South Australia.

Market Capitalisation: $8 million

In this Open Briefing®, Carl discusses:

• Drilling commenced at Covenant Mondo Joint Venture (CMJV) in Utah, USA

• The Covenant Mondo Field value to Tellus Resources

• Three conventional oil exploration projects for Tellus Resources

Record of interview:

Open Briefing

Tellus Resources has recently announced the spud of the first Covenant Mondo Joint Venture oil well located in Sevier County, Utah. This is the first of two wells planned on the 3,900 acre licences with the first, TWP USG#1 planned to reach target depth in the next days.

Carl, you’ve been working in the oil game for decades. What is it about this target that makes it attractive and what is your expectation?

MD Carl Dorsch

The CMJV Project is located near the Covenant field, one of the largest US onshore discoveries in recent years and is reported to have some 150 million barrels of recoverable oil (150 MMBO rec) and is producing approximately 6,400 barrels of oil per day at present. So this area is a prolific production region.

The available seismic, although poor quality, appears to show a clear structured trap for the oil that we are targeting and given the success of the nearby Covenant field, it is likely there is a producing system in place. The chances of a good seal are also good.

ASX Announcement: 12 November 2014/Open Briefing®/Tellus Resources Limited

1

==> picture [100 x 48] intentionally omitted <==

The CMJV is one of the most outstanding opportunities I have come across in more than 35 years in the oil business and whilst there are risks as in any exploration project, the upside potential presents a rare opportunity for a company of our size.

Open Briefing

What is Tellus’s drilling cost on TWP USG#1 and what is the net revenue interest? What is the average strike rate for this type of drilling in this and similar fields? What is the expected cost of production per barrel of oil in this part of the world?

MD Carl Dorsch

Tellus is funded in the first well with no cost overruns and following the farmin will have an approximate 18% net revenue interest.

I am planning to be on site for much of the drilling period to help in the efficient execution of the drill plan and also to try and get the best value and use of shareholder funds.

The average strike rate in the area is high and our expectations of a discovery align with this.

Flow rates in the Covenant field to the south have been fairly consistent, with around 6,400 barrels per day of oil produced from some 14 wells. The oil is of a high quality light, sweet grade, so it commands a premium price per barrel.

Cost of production is expected to be low as one of the attractions is that it is conventional oil.

Open Briefing

What is the significance of the CMJV for a junior like Tellus Resources and what impact could a good discovery across these two wells have on your market capitalisation?

MD Carl Dorsch

Firstly, for a company the size of Tellus Resources to get a foot hold in the Covenant Mondo field is a tremendous coup. We are close to a known producing field in Utah which is one of the most prospective oil regions in the United States. This is not in mountainous jungle or a remote desert with no infrastructure, roads or power. This is right off the highway, south of Salt Lake City in a proven and prolific field in a country where the oil industry has been operating for decades. Drilling for oil and operating a well in this area is the easiest you are going to find and we are very fortunate to be exploring here. What will success mean for Tellus? At the current value of our market cap, even success on the low side will equate to several multiples of that figure. The board and I are very excited about what CMJV can do for our company and our shareholders.

Open Briefing

The second significant project for Tellus is the Madagascar exploration project , Block 3114 (10,160km2) located in the Morondava Basin, for which the USG estimates to have mean undiscovered conventional oil resources of 10.75BBO (billion barrels of oil) and mean undiscovered conventional gas resources of 167TCF (trillion cubic feet). What is Tellus’s interest in this licence and what are the key aspects of the project?

MD Carl Dorsch

Well, success at CMJV will certainly put us on track to progress our strategy in the larger scale target in Madagascar, the Block 3114. We continue to pursue opportunities to progress our

2

ASX Announcement: 12 November 2014/Open Briefing®/Tellus Resources Limited

==> picture [100 x 48] intentionally omitted <==

activity on this asset and I’ll have more to talk about at a later date, but first things first. The CMJV well is our current focus and will continue to be until our targets are reached. The Madagascar block has potential for significant oil discoveries as already shown from other global operators nearby and from data and studies completed by our petroleum analysts, the Denver based MHA Petroleum Consultants who are very excited about what they have assessed there.

Open Briefing

What is the schedule for the coming weeks and when do you think you’ll be able to report on the outcome at Covenant Mondo?

MD Carl Dorsch

I will be on site in Utah for the next weeks and will be reporting progress back to shareholders and the broader market with a weekly update. We expect drilling of the first well to progress to completion in the next two weeks. Given our current market cap and the prospectivity of the projects that Tellus is working on and toward, there is a clear opportunity for growth in our share price from current levels and I look forward to bringing good news to the market in the coming weeks.

Open Briefing

Thank you Carl

For more information about Tellus Resources, visit www.tellusresources.com.au or call MD Carl Dorsch on (+61) 8 8100 9200.

Covenant Mondo Project – Utah, United States

==> picture [407 x 277] intentionally omitted <==

3

ASX Announcement: 12 November 2014/Open Briefing®/Tellus Resources Limited

==> picture [100 x 48] intentionally omitted <==

DISCLAIMER: NWR Communications Ltd and Orient Capital Pty Ltd have taken all reasonable care in publishing the information contained in this Open Briefing®; furthermore, the entirety of this Open Briefing® has been approved for release to the market by the participating company. It is information given in a summary form and does not purport to be complete. The information contained is not intended to be used as the basis for making any investment decision and you are solely responsible for any use you choose to make of the information. We strongly advise that you seek independent professional advice before making any investment decisions. NWR Communications Ltd and Orient Capital Pty Ltd are not responsible for any consequences of the use you make of the information, including any loss or damage you or a third party might suffer as a result of that use.

Competent Persons Statement

The information in this statement that relates to Hydrocarbon Resources is based on information compiled by Mr Carl Dorsch (Managing Director). Mr Dorsch has been a member of the Society of Petroleum Engineers since 1981. He holds Bachelor of Science and Bachelor of Chemical Engineering Degrees from the University of Adelaide, South Australia and is a Chartered Engineer as well as a Fellow of the Institute of Chemical Engineers. Mr Dorsch has sufficient expertise in the activities undertaken to qualify as a Competent Person under the ASIC guidelines provided in Regulatory Guide 111.97. Mr Dorsch hereby consents to the inclusion of the information in this presentation and the form and context in which it appears.

ASX Announcement: 12 November 2014/Open Briefing®/Tellus Resources Limited

4