FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Capital/Financing Update 2013

Aug 22, 2013

ASX ANNOUNCEMENT 23 August 2013

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ASX RELEASE

Tellus Resources Ltd is an Australian‐based mineral exploration company.

COMPLETION OF PNC ACQUISITION AND PLACEMENT

On 23 August 2013 Tellus completed the acquisition of PNC AUST Pty Ltd.

PNC holds 50% of PEL105 in the highly prospective Cooper Basin with the right to purchase the remaining 50%. In addition, PNC has a 100% interest in ATP904P subject to ministerial approval

Tellus also has a large tenement package at Chillagoe in North Queensland including the Wandoo and Empire prospect. In regional NSW, the Company also holds Exploration Leases prospective for Intrusive Related Gold Deposits (IRG).

A key part of the Company's strategy is to explore and develop its oil and gas assets and maximise the value of its existing gold assets..

HIGHLIGHTS

• PNC acquisition completed

• 28M shares issued to sophisticated investors

• 40M shares to be issued to PNC AUST Pty Ltd shareholders

• Carl Dorsch appointed as Managing Director

• Drilling of Pirie 1 expected to commence shortly

• Negotiations continuing to secure ATP904P

Tellus Resources Ltd (“the “Company” or “Tellus”) is pleased to announce the completion of the acquisition of PNC AUST Pty Ltd ("PNC") as approved by shareholders at the EGM on 10 July 2013.

The Company has successfully raised $2,498,373 and has issued a total of 28,458,367 ordinary fully paid shares to various sophisticated investors who participated in the recent placement by the Company.

To complete the acquisition of 100% of PNC, the Company has issued a further 40M ordinary fully paid shares to the vendors of the PNC shares.

Directors/Officers:

Carl Dorsch Anthony Wehby Stephen Woodham Richard Willson Ben Salmon Anne Adaley

Issued Shares and Options:

112,838,922 shares 56,000,000 unlisted options

Tellus Resources Ltd

ASX Code: TLU T: +61 2 9231 6231

Mr Carl Dorsch has been appointed to the Board of the Company. Mr Dorsch is a chartered chemical engineer and has over 35 years’ experience in the hydrocarbon sector. He was the founder and MD of Adelaide Energy (ASX.ADE) which listed on the ASX with an initial market cap of A$12 million in 2007 and was successfully acquired by Beach Energy (ASX.BPT) for A$94 million in 2011. Mr Dorsch’s main focus in the Oil & Gas sector has been in the upstream side with extensive drilling and production experience.

Mr Dorsch has agreed to act in the full time role of Managing Director. The terms of the appointment are summarized as:

a. the term is for 2 years from today (the term can be increased by mutual consent).

• b. an annual salary package of $360,000 including superannuation.

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ASX ANNOUNCEMENT 23 August 2013

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c. the issue of 45M performance options to Mr Dorsch (or his nominee) for nil consideration. The options convert to ordinary fully paid shares in Tellus subject to certain performance hurdles being met including VWAP share price and oil production.

Tellus is pleased to be joining the ranks of oil and gas explorers in the Cooper Basin where recent corporate activity has been notable and has attracted a number of major international players.

The Company’s strategy is to acquire operating interests in quality acreage positions in proven low‐ risk basins where management are familiar with the assets and have relatively low entry costs. Tellus is targeting both conventional and unconventional oil and gas resources. The Company will focus on providing flexibility in terms of timing and approach to exploration and any subsequent development of delineated oil and gas reserves.

PNC, now a wholly owned subsidiary of Tellus, is the holder of two oil and gas assets:

1. A 50% interest in PEL 105 in the Cooper Basin. PNC has also agreed to acquire the remaining 50% interest in PEL 105 subject to the execution of a formal Sale & Purchase Agreement with Austin Exploration Limited.

2. 100% interest in ATP 904P in the Surat Basin, Qld, subject to Ministerial approval of the transfer from the previous owner. PNC is currently negotiating with the relevant statutory body with the cooperation of the previous owner to achieve Ministerial approval.

The Company is in final preparations to drill Pirie 1 in PEL105 and the well is expected to commence operations within weeks. The well is targeting Birkhead, Toolachee, Patchawarra and Tirrawarra oil and wet gas prospects. For more information relating to Pirie 1 refer to the EGM notice dated 6 June 2013.

Mr Stephen Woodham will vacate the position of Managing Director concurrently and assume the role of Non‐Executive Director.

The Chairman, Mr Tony Wehby commented “We welcome Carl to the Board and look forward to his involvement in the exploration and development of these exciting oil and gas assets. We also take this opportunity to thank Steve for his significant contribution to Tellus and look forward to having his continued input at Board level."

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ASX ANNOUNCEMENT 23 August 2013

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For further information on this announcement or Tellus Resources please contact:

Tony Wehby Anne Adaley Chairman Company Secretary & Chief Financial Officer T: 02 9231 6231 T: 02 9231 6231

About Tellus

Tellus Resources Ltd is an ASX‐listed mineral exploration company focused on generating value for its shareholders by identifying and acquiring properties and projects that have significant discovery and development potential.

Tellus has continued to evaluate additional exploration and value‐accretive opportunities within Australia and internationally leading them to the acquisition of PNC AUST Pty Ltd which holds prospective oil and gas assets.

Tellus has a large tenement package in northern Queensland and regional New South Wales prospective for Intrusive Related Gold Deposits (IRG). The strategic objectives of the Company are to enhance Shareholder wealth through implementing exploration programs on its existing projects

Competent Persons Statement

The information in this statement that relates to Hydrocarbon Resources is based on information compiled by Mr Carl Dorsch (Managing Director elect) of the Company 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 release and the form and context in which it appears.

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