FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Investor Presentation 2014

Mar 5, 2014

TELLUS RESOURCES LTD BUILDING A PORTFOLIO OF OIL & GAS ASSETS

March 2014

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Summary of Key Assets

• �Operatorship and 41.67% Interest in the Covenant Mondo Project , a large conventional oil asset with the potential to deliver massive upside with drilling to commence shortly

• �30% interest in PEL 105 in the Cooper Basin – will be free carried on a well to be drilled by Senex Energy Ltd (Senex) by end June 2014

• �Divestment of legacy gold assets underway

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Corporate Overview

Board of Directors

Robert(Bob)Kennedy Non-Executive Chairman	Mr Kennedy is a seasoned oil and gas executive having 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.
Carl Dorsch Managing Director	Carl Dorsch is a Chartered Chemical Engineer with a 35 year career in oil and gas exploration and development 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 ASX listing until its takeover in January 2012.
Neil Young Non-Executive Director	Mr Young has a history of nearly 20 years commercial 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.
Ben Salmon Non-Executive Director	Ben Salmon was appointed as a director on 19 October 2012. He has practised as a barrister in Canberra since 1967. He was elected as a member of the ACT Law Society Council and the ACT Bar Council. He served two terms as President of the Bar Council.

Current Capital Structure
Current shares on issue	154,766,435
Market Cap (at 7.5 cps)	$11.6M
Cash as at end 2013 (AUD)	850,000
Unlisted Options on issue.	72,000,000
Performance Rights	1,050,000
Top 20 Shareholders %	77.4
Directors %	2.6

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Covenant Mondo Project – Utah, USA

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Covenant Mondo Project – Utah, USA

Project Overview

• �The Covenant Mondo Project (CMP) is a large conventional oil asset 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 the Operatorship of the CMP and a 41.67% participating interest (PI) following farmin completion.

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Covenant Mondo Project – Utah, USA

Farm-in Summary

• Tellus has paid USD1.3M to date for operatorship.

• Tellus must drill 2 conventional oil wells to +/- 9500 feet (2900m) estimated at USD2M per well on a P&A basis.

• �If successful, Tellus must case, complete and connect wells to tanks.

• Tellus must fund 50% of the work for the 41.67% PI (better than a 5:4 promote).

• �Total Landowner and other Royalty interests total 22%.

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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)2.	Ultimate	Tellus Share
		recovery3.	(at 41.67%PI)
CMPUpside Success Casewith 1800 feet oil column	413	(MMBO) 165.2	(MMBO) 52.0
CMPDownside Success Casewith 450 feet oil	19	7.6	2.4
columnjust around the mapped crest

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.

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Covenant Oil Field – Wolverine Gas & Oil

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Covenant Mondo Project – Utah, USA

Asset Overview

• CMP is a conventional oil prospect located in the Overthrust Belt in Sevier County, Utah

• Recoverable oil estimated to be 165.2 million barrels

• 3985 Total Acres (Private landholding):

• ⁻ 1,720 acres : owner US Gypsum Company – expiry in two years

• ⁻ 2,265 acres: owner American Gypsum Company - expiry in two years with options to extend to eight years

• The nearby Covenant field was discovered in January, 2004 by Wolverine Gas & Oil Corp. (“Wolverine”)

• Covenant has produced 17.3 million barrels of oil from 23 wells to date

• Production averaged 4,402 BOPD in 2012 (current production at approx 6,400 BOPD)

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PEL 105 – Cooper Basin, South Australia

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PEL 105 – Cooper Basin, South Australia PEL 105 – Asset Overview

Petroleum exploration licence of 219.6 km[2 ] (54,260 acres) located in the Cooper Basin, South Australia

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PEL 105 – Cooper Basin, South Australia PEL 105 – Asset Overview

• Block located in the heart of the Cooper Basin

• Surrounded by extensive oil & gas production and commercial activity

• Senex to drill one well by end June 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 converts to 3 x PRL’s in next months ( 15 year tenure )

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PEL 105 – Cooper Basin, South Australia Pirie 1 Well

• Pirie 1 drilled by Tellus to a total depth of 2522 m (20m into the Nappamerrii formation)

• Tirrawarra target not reached due to hole and mechanical problems

• Tirrawarra target has P10 potential 9.96 MMBO eq – still to be drilled

• Well cased and suspended as a potential “unconventional” Birkhead oil producer

• Completion/stimulation on well planned for final quarter 2014

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Looking Forward

• Tellus continues to investigate new opportunities and technologies in the O&G sector.

• The business model for Tellus remains :

• Concentrate on conventional oil plays with high upside potential.

• Look for operating opportunities on a free carried basis.

• Consider investment should the opportunity warrant it.

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

Time Line
2014 Q1 Q2 Q3 Q4
Prepare for CMP
Drill CMP Well #1
Drill CMP Well #2
Drill PEL 105 Well
Evaluate 105 well
Pirie 1 Stimulation
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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.

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.

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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

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