FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Investor Presentation 2014

Sep 9, 2014

TELLUS RESOURCES LTD HIGH IMPACT OIL & GAS ASSETS

Good Oil Conference Presentation : September 2014

==> picture [241 x 75] intentionally omitted <==

Compliance Statements

Disclaimer

• This presentation has been prepared by Tellus Resources Ltd (“TLU” or the “Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. It is not to be distributed to third parties without the consent of TLU.

• This presentation contains forward-looking statements and projected drilling schedules that are not based on historical fact, including those identified by the use of forward-looking terminology containing such words as “believes”, “may”, “will”, “estimates”, “continue”, “anticipates”, “intends”, “expects”, “should”, “schedule”, “program”, “potential” or the negatives thereof and words of similar import.

• Management of TLU cautions that these forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by the statements. Management believes that the estimates are reasonable, but should not unduly be relied upon.

• TLU makes no representation, warranty (express or implied), or assurance as to the completeness or accuracy of these projections and, accordingly, expresses no opinion or any other form of assurance regarding them. Management does not intend to publish updates or revisions of any forward-looking statements included in this document to reflect TLU’s circumstances after the date hereof or to reflect subsequent market analysis.

• By its very nature exploration for oil and gas and gold is a high risk business and is not suitable for certain investors. TLU securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to TLU and of a general nature which may affect the future operating and financial performance of TLU and the value of an investment in TLU including and not limited to economic conditions, stock market fluctuations, gold, copper and silver price movements, regional infrastructure constrains, securing drilling rigs, timing of approvals from relevant authorities, regulatory risks, operational risks, reliance on key personnel and foreign currency fluctuations.

• You should not act or refrain from acting in reliance on this presentation material. This overview of TLU does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.

• The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development.Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

Competent Persons Statement

• The information in this statement that relates to Hydrocarbon Resources is based on information compiled by Mr Carl Dorsch (Managing Director) who is leading the Company’s operations efforts with the help of various professional consultants who are experts in their fields.

• 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 over 35 years experience in the oil and gas exploration and production business both in Australia and on the international stage. Although specialising in drilling and completion operations, his career has included reservoir and production operations.

• Mr Dorsch has sufficient expertise in the activities undertaken to qualify as a Competent Person as defined in the 2004 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results. Mr Dorsch hereby consents to the inclusion of the information in this presentation and the form and context in which it appears.

==> picture [148 x 46] intentionally omitted <==

2

Summary of Key Assets

• �25.0% Working Interest in the Covenant Mondo Project , a large conventional oil asset with the potential to deliver massive upside with drilling to commence shortly.

• �Proposed acquisition of 25% of 10,000 km2 Block 3114 (with option to go to 80%) located onshore Madagascar with a drill ready anticlinal oil target as well as prospective fault block trap geometries – subject to shareholder approval (GM 26[th] of this month).

• �30% interest in PRLs 108,109 and 110 in the Cooper Basin – 100% free carried in a well to be drilled by end September 2014.

• �Legacy gold assets in Qld/NSW – sale/spin off?

==> picture [148 x 46] intentionally omitted <==

3

Covenant Mondo Project (CMP)	Utah, USA	ONSHORE : Conventional Oil
Block 3114 (Morondava Basin)	Madagascar	ONSHORE : Conventional O&G
PEL 105 (PRL’s 108,109,110)	Cooper Basin, SA	ONSHORE : Conventional O&G Unconventional (deep coals?)

THREE PROJECTS/THREE AREAS

==> picture [148 x 46] intentionally omitted <==

4

	Corporate Overview	Corporate Overview	Corporate Overview
		Board of Directors
			Robert(Bob)Kennedy		Mr Kennedy is a seasoned oil and gas executive having
			Non-Executive Chairman		had an extensive career in listed companies, most
					notably as the previous Director and Chairman of Beach
					Energy Limited for a period of almost 21 years. He is
					also closely involved at board level with a number of
					other publicly listed companies and his experience in
					this field is both well known and extensive.			Current Capital Structure
								Current shares on issue	194,348,295
			Carl Dorsch		Carl Dorsch is a Chartered Chemical Engineer with a 35
			Managing Director		year career in oil and gas exploration and development			Market Cap (at 4 cps)	$7.8M
					projects in Australia and internationally. He is a pioneer of the Cooper Basin’s Patchawarra and Nappamerri Troughs unconventional play. He served as Managing Director of Adelaide Energy Limited from its inception, through its ASX listing in July 2007 and until its takeover in January 2012.			Cash as at Aug 14 Unlisted Options on issue. Performance Rights Top 20 Shareholders	700,000 72,700,000 1,050,000 51.4%
								Directors	2.5%
			Neil Young		Mr Young has a history of nearly 20 years commercial
			Non-Executive Director		experience in the energy sector, after an initial career as
					an accountant in the UK. He has worked for companies
					ranging from Adelaide Energy to Santos, in Australia and
					internationally.

==> picture [148 x 46] intentionally omitted <==

5

Covenant Mondo Project – Utah, USA

==> picture [720 x 315] intentionally omitted <==

==> picture [148 x 46] intentionally omitted <==

Covenant Mondo Project – Utah, USA

Project Overview

• �The Covenant Mondo Project (CMP) is a large conventional oil play located in Utah, USA.

• �The CMP has the potential to deliver massive upside with substantial resource estimates in a well known US overthrust belt (the “Hingeline”).

• �The CMP is placed in close proximity to the privately owned Covenant oil field currently producing circa. 6500 BOPD and recoverable reserves of over 150 MMBO.

• Tellus has a 25.0% participating interest (PI) following farmin completion.

==> picture [148 x 46] intentionally omitted <==

7

Covenant Mondo Project – Utah, USA

Farm-in Summary

• Tellus has funded 30% of the farm in terms including the promoter fees and the following work program for its 25% PI (better than a 5:4 promote):

Drill 2 conventional oil wells to 9500 feet (2900m) estimated at USD 2M per well on a P&A basis;

If successful, the wells must be cased, completed and connected to tanks for an estimated cost of USD 1M per well.

• �After Landowner and other third party Royalty interests, Tellus net revenue interest is approx. 18.0%.

==> picture [148 x 46] intentionally omitted <==

8

Covenant Mondo Project – Utah, USA Asset Overview

Key

Wolverine Fields

Covenant Mondo Project

==> picture [48 x 30] intentionally omitted <==

Regional Thrust Faults

Geochemical Anomaly

Covenant Mondo Project 3985 Total Acres

==> picture [209 x 257] intentionally omitted <==

Wolverine Field

• The nearby Covenant (Wolverine) field discovered in 2004 has produced 17.3 million barrels of oil from 23 wells to date.

• Current production approx 6,400 BOPD.

==> picture [148 x 46] intentionally omitted <==

9

Covenant Mondo Project – Utah, USA

Resource Estimates

CMP is estimated to have significant upside potential based on Tellus' in-house calculations from existing seismic interpretation[. 1.]

Estimated Resource OIIP (MMBO) Ultimate Tellus Share 2. recovery[3.] (at 25.0%PI) (MMBO) (MMBO) CMP Upside Success Case with 1800 feet oil column 413 165.2 29.7 Risked (at COS of 35% - P10) 10.4

CMP Downside Success Case with 450 feet oil column 19 7.6 1.4 just around the mapped crest Risked (at COS of 35% - P90) 0.5

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

Notes:

• (1) In house report prepared by P. McCarthy : Consultant Reservoir Engineer (Sep 2013).

• (2) OIIP : Oil initially in place – MMBO (million barrels of oil) ; cases based on estimated gross rock volume with success based volumes assuming oil with very little gas.

• (3) Assumes a 40% recovery factor as Utah Geological Survey estimates for Covenant Field.

==> picture [148 x 46] intentionally omitted <==

10

Madagascar - Oil Exploration Project

==> picture [553 x 375] intentionally omitted <==

==> picture [148 x 46] intentionally omitted <==

Madagascar

==> picture [720 x 365] intentionally omitted <==

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

Mozambique
Zambia
Madagascar
Zimbabwe
Mauritius
East Africa
Reunion
Botswana
----- End of picture text -----

==> picture [148 x 46] intentionally omitted <==

The Asset

Block 3114 (10,160km2) located in the Morondava Basin, Onshore Madagascar.

• The Morondava Basin covers 135,000km2 and has been estimated by USGS (2012) 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).

• Oil & gas discoveries reported immediately North of Block 3114 by large Chinese exploration companies.

• Other majors entering the area (XOM, Tullow).

• Large conventional crude oil reserves indicated.

==> picture [338 x 322] intentionally omitted <==

==> picture [148 x 46] intentionally omitted <==

Leading Prospects in the Asset

Source rocks, reservoirs, traps/seals, source maturation and oil migration are confirmed and three prospect leads have been identified.

1. The Ambatry Area

2. The Bezaha Area

3. The Tongobory

==> picture [342 x 299] intentionally omitted <==

==> picture [148 x 46] intentionally omitted <==

14

The Ambatry Area Prospects

Seismic analysis of the Ambatry 2D survey in 2012 has identified the following :

Prospect	Type	Total Risked Recoverable Oil Resources1. (millions of barrels)	Total Risked Recoverable Oil Resources1. (millions of barrels)	Total Risked Recoverable Oil Resources1. (millions of barrels)	Comments
		Low	Best	High
Betioky Prospect	Anticlinal	10.5	38.9	108.6	Drill ready
Caravel Prospect	Fault Trap	3.8	16.3	51.4	Drill ready2.

Notes

1. Resources reported by Independent Expert (MHA Consultants – July 2014).

2. Subject to an additional 2D strike line to define closure and optimize the drill site.

==> picture [148 x 46] intentionally omitted <==

Prospective Drill Location Betioky Prospect

==> picture [258 x 200] intentionally omitted <==

The Asset

• Block 3114 has a total of :

815 kms interpreted historic 2D seismic.

165 kms interpreted 2D seismic (2012 : Ambatry) – 2 drill ready prospects identified

120 kms 2D seismic (2013 : Bezaha) – acquired but not yet paid for.

• Drill targets are close to infrastructure :

Tulear on SW coast has port facilities and is one hour flight from capital Antananarivo.

6 hours by truck from Tulear to site (except wet season from Nov – Feb)

==> picture [148 x 46] intentionally omitted <==

Deal Terms for an Interest in the Asset

• Block 3114 is 100% owned by PetroMad.

• Tellus to acquire a 51% interest in Block 3114 via acquisition of shares in Petromad and settling with current creditors.

• Vendor is an ASX listed company with approx. 1600 shareholders (Caravel).

• Balance of Petromad held by Dr Emma Rasolovagny (the Owner), a geophysicist and Madagascan national with 20 years in O&G.

• Tellus can earn up to 70% by spending 9M USD. Plans to drill 2 wells with first well in 2014 – farm out negotiations to commence on deal settlement.

• Tellus can acquire a further 10% (total 80%) for a cash payment of USD 20M to the Owner upon identifying hydrocarbon reserves of 100 MMBOE.

==> picture [148 x 46] intentionally omitted <==

Consideration

Tellus to acquire a 51% stake in Petromad for the following consideration:

• 25M ordinary shares to Vendor creditor for payment of outstanding loan;

• 60M ordinary shares to Vendor - Vendor required to distribute 55M in specie to all its shareholders;

• Tellus to assume all the liabilities of the Vendor in relation to the Petromad asset – expected to be a maximum of $3M (staggered over 12 months);

• Tellus and Vendor will require shareholder approval – deal completion expected by end October 2014.

==> picture [148 x 46] intentionally omitted <==

PRLs 108, 109 & 110 (formerly PEL 105) – Cooper Basin, South Australia

==> picture [720 x 315] intentionally omitted <==

==> picture [148 x 46] intentionally omitted <==

PEL 105 – Cooper Basin, South Australia PRLs 108, 109 & 110 – Asset Overview

Petroleum retention licences totalling 219.6 km[2 ] (54,260 acres) located in the Cooper Basin, South Australia

==> picture [505 x 171] intentionally omitted <==

==> picture [505 x 171] intentionally omitted <==

==> picture [148 x 46] intentionally omitted <==

20

PEL 105 – Cooper Basin, South Australia PRLs 108, 109 & 110 – Asset Overview

• Licences located in the heart of the Cooper Basin

• Surrounded by extensive oil & gas production and commercial activity

• Senex to drill one well by end September 2014 – Tellus fully carried

• Final interests 30% Tellus and 70% Senex (Operator)

• Large “wet” gas potential as well as unconventional “deep coal” prospectivity

• Potential Birkhead oil (unconventional?)

• Licence has been converted to 3 x PRL’s ( 15 year tenure )

==> picture [148 x 46] intentionally omitted <==

21

PROJECT	Location	Prospective Resource Best Estimate (MMBO)1.	Prospective Resource Best Estimate (MMBO)1.
		TELLUSSHARE
Covenant Mondo, Utah2.	Utah, USA	25% WI (19% NRI)	0.9
Block 3114, Madagascar3.	Madagascar	25%	13.8
PEL 105 (PRL’s 108,109,110)2.	Cooper Basin, SA	30%	0.5
		TOTAL	15.2

SUMMARY

1. Defined as risked and recoverable resource – units of million barrels oil equivalent

2. In house estimates of prospective resource

3. As reported by independent consultants MHA Petroleum Consultants LLc.

==> picture [148 x 46] intentionally omitted <==

22

Contact Information

REGISTERED OFFICE 5/70 Pirie Street Adelaide SA 5001 ABN: 35 144 733 595 Telephone: +61 8 8100 9200 Email: info@tellusresources.com.au Carl Dorsch +61 (0) 400 508 088

==> picture [720 x 126] intentionally omitted <==

==> picture [720 x 82] intentionally omitted <==