TALIUS GROUP LIMITED — Capital/Financing Update 2015

May 14, 2015

15 May 2015

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ASX ANNOUNCEMENT

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ANTILLES ACQUIRES RIGHTS TO TECHNICAL EVALUATION AGREEMENT IN PERU

Antilles Oil and Gas NL ( Antilles or the Company ) are pleased to announce acquisition of the right to a Technical Evaluation Agreement ( TEA ) for an acreage position in onshore Peru. The position is in the Sechura Basin within fifty kilometres of existing production. Antilles has a hundred per cent (100%) equity holding in the agreement, which carries a work program of evaluation of existing data. The total expenditure for the initial work program is US$0.4m dollars over a work term of up to two years.

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GOLD OIL PERU SAC Z-34SAPET DEVELOPMENT PERU VIIPena Negra Oeste Glom 80XLobitos Offshore Lo6 9XLobitos Offshore Mm 13XSan Matteo LO6-26XDLobitos Offshore A110XKEI (PERU Z-38) PTY LTD. Z-38Pena Negra Oeste Tt 11XZapata NhX 6Pena Negra Oeste XX 9XPena Negra 2-28XProvidencia A4 1XGolf P25 X2SAVIA PERU S.A Z-6Zapata NhX 7Epf-Belco 8a X3PETROBRAS ENERGIA PERU XSAVIA PERU S.A. Z-2BSiches Oeste 1XBtal L1 X15 B!)= Portachuelo Oeste 4425 ! [!] Æ)=B!Bj)= B B! B Bj Organos OrXa 14X !BB Lagunitos 4400 )=B j Paita NpXb-24X = B [B] )= BB [)=] )=)= )= B)=)=)= ! B)= B )=)=B)= )= B [j] Verde 1710 [j jjjj] )= )=)= [)=][j] B Lagunitos 5565 )=)=B)=)= [)=] )= )= BBB)=)=B)= Organos 10 1X j)= )= j)=BB [B] )=)=j [!][)=)=][)=] )=B )=j [B)=)=] B )=)=)= [!] )= )=)=B )= )=j Zapata MXd 1 B )=)=)=)=)=)=)=B)=)=BÆ B )=B)=j Chir EX4 15X ÆÆ [!] BB)=BB [)=] )=)=)=)= [j] B)=BB)= [j][j] j )= )=)=! B [)=] B)=))=B)=! BB )=)=B )= )==)=)=B )=)= [BB] )=BB [)=] BBBjj [)=] )=jjBB#! )= j1 )= BB)=j Chira RC1-6XD )= B )=B )= jjB)=B [B] B B )= B Mirador NX-20 j [jj] )=BB BÆ)=B )=B )=)=)=B [B][j] BBB )= BBB [j] j)=j)=jj)=)=)=ÆB)=B)=)=BB )= [)=] BBjjB)=B [)=] B )=)= )= !B)= )= [B] )=B)=BBjB)=)= [Æ] ÆB [BB] )=)= [B] Æ [B] )=BÆB B )=BB)=B)=B)=B [)=] B)=)=)=)=Æ)=B )= B )= [)=] )=B)=B [B] )=)=B [j] )= [)=)=] B)=)= )= B!)=)=B)=)=)=BB )= [)=] Bj [)=] )=)= B j )= B)=)=B )= [Æ][B] )=)=)=)=)=)= [)=] B)= )=)= )=)= [)=] B [)=] B)= [)=] B [Æ] )=)=BBB)=B)=B)=)=)=)= [j] B )= [)=] BB)=)=)=)=B )= )=)=BB [B] )= B [)=] B)=)=)= [B)=B)=B] )= [)=] [)=] B)=)= j)=)=)= )= j)=)=)=B)=Æ)=)=)=B [j] )= jB )= )=)= [)=] )= [)=] )=)= B [B][)=B] j! [!] B)=Æ)=BB)=j )= jBjB [)=] )=B)=)=)=)= [j] Æ)=B [)=] j)=)=)=)=)= [)=] )=)= [)=] B)=!)=B [)=] )=)=! BPZ EXPLORACION Z-1 )= jjBj)=)=B [j][B][)=] BB [B] B)= )=)= )= )= ÆB)= [)=)=] )= )= )=BB)= [!] )= BB)=)= )= )= [B] B)=BB [jj] Zapata PhX E [Æ Æ][B] B! [Æ] j)=)=)= )= )=)=)=)=)=BB)= [)=] =)=)=! [j] "B)=)=BBB)= [)=] )=)=)= [!] B!)=B )= [)=] )=Bj)= [)=] B [B] )= j)=)=)=BÆjB)=BB [)=][B] j )= B )= B )= j Organos Norte 1880 )=)=)=)=j)=Æ [)=][)=] B)= )=)= B)= [)=] ! [)=] )=)=j)= [)=] )=!)=)= [B] )= [)=][j] )= )=j [j][j] )= [)=] )=jj)==)=B )= j [)=] )=)=)=)=)=)=B )= )=B)=)=)= )= j [j] BjB)=B)=)=j)=)= [)=)=] )=!BB )= )= )=)= )=)=Bjjjjj)=)= [j] BB)=)=)=B!)=B Carpitas aa 65 )= Cuesta 4870 B [)=] )=)=)=)=)=)=)= [)=] )= [)=] )= )= )=)= [)=] )= [)=] Æ [B] )=)= )= )= )=j [B] )= [j] )= B)=)= Nuto 5510 Æj [)=] Alvarez-Oveja 4835 B)=B)=)=)= GMP S.A V [)=)=] )=B)=)=B [j] Zorro 4095 B)=B)=BBBBjjB)= La Brea D BB)=BB)=!)=)=Æ [)=] !B)=B [)=] j La Isla 1x )=! [B][)=B][)=][)=] Zorro 3495INTEROIL PERU S.A. IV [j][B] BB [B] j!j Papayal X-3 )=j Mirador 4750 B Carpitas C18 [j] )= La Brea 3555 )= [)=][j] Tunal TX 35 jBj Mesa 3790 B Paita 4 B)=B Nuto 5085Mancora 3 j Tunal E-10 B)=BB!! Mte Grande 3705La Brea 3685 B Cancas 3 jBBj )= )= Nuto 4760Misc Salina 5135 Bj Paita 3 BBB Tunal 6065Hualtacal 6035 jB Cancas 1 !j Plateritos Pl X1 BB Mancora X2Paita 1 B OLYMPIC PERU INC XIII j Ollocos OX-2Cascajal 5620 jBB VETRA PERU SAC XXV B Hilda 4520 )= Nuto 5365 BBBB Carpitas C115 B Cerezal Ce X1 B Cancas 2Barranco BaX2 BB Abejas 1XPaita 2 = La Huaca 1 BB El Cardo 2XBPZ EXPLORACION XXIIITamarindo 2 BBB" Plateritos Pl X3BPZ EXPLORACION XXIIBPZ EXPLORACION XIXPunta Mero 1 B Tamarindo 1XPiura 1 ANTILLES
! B j
)= Colan 1XUPLAND OIL AND OIL GAS XXIV ! Zapata PhX A Aguila-XXIV-07-1xdSilla XXIV-07-1X STCISNE - 1X "= B B ["] " Buho 1XSilla XXIV-07-1XDiucon 1X B EXpecta 1-X-1 [B] j San Alberto 1XSan Alberto 2X
Legend SAVIA PERU S.A. Z-45 Zapata PhX NSanta Teresa 1x !B Zapata PhX OSAVIA PERU S.A Z-6 )=B Cas P75 2XZapata SbX AViru 69-X-1 ! Becara 1XLobo 1X Æ! San Francisco 1X Æ!ÆÆBB [B] Viru 45-X-1Viru 4-X-2Viru 4-X-1 ÆB" Mochica 1XOLYMPIC PERU INC XIII B Viru 5-X-1 0 Rio Loco XIII-45-1XGOLD OIL PERU SAC XXI B Pabur X-1
Pipelines 0 5 10 20 30 40Kilometers San Pedro 1X 1B San Pedro Sur 5X #! San Pedro 2-1X PITKIN PETROLEUM PERU XXVIII
Field Esperanza 1XD
#! SAVIA PERU S.A XXVI
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Level 1, 12 Kings Park Road West Perth WA 6005 PO Box 44 West Perth WA 6872

abn: 62 111 823 762 tel: +61 8 9226 4500 fax: +61 8 9226 4300 antillesoilandgas.com.au

15 May 2015

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ASX ANNOUNCEMENT

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Prospectivity

The Sechura Basin has a proven source rock for the hydrocarbons both gas and oil in the TEA area in the Muerto Formation which sourced the surrounding oil fields to the west of the area. Good oil shows in the two wells Puira-1 and San Alberto-1X have been sampled in and nearby the block proving the extent and presence of a working hydrocarbon/oil system. Large-scale reservoirs consisting of good quality deep water sands are present in the wells in the Tertiary to Upper Cretaceous section. The inversion structures seen within the main grabens generate the large-scale structures which have substantial resource potential.

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Providencia A4 1XSur Balcones Lit65 P34 3XZapata NhX 4Lobitos Offshore MlX9 15XZapata NhX 6Golf P25 X2Zapata NhX 7Epf-Belco 8a X3Epf-Belco 8 X2 B!! Malacas Bp 5015 [!] Æ!j Golf Pq 7a BBB! BB Bj!Bj [B] = B Btal L1 X15 )= ! B)=)=B)= B)= [j] )= [j] )= )=B)= Lagunitos 4400 )=B)=)= [)=] B)=jj )= [B] )=B [!] )=)= B [B] )=)=)=)= [!] B)=B)=)=)=)= [j] )=B [)=][)=)=] )=jB)=)=)=B)=BÆ)= [)=] )=Æ [)=)=] BB [j] jBBB! [)=] )==)=)=)=)=BB)=B!B)=)= [)=] B)=Bj [jj][BB] )=)=B B BBB [j] BBB)=B)=BB )= B)=B [B] BB [j][jj] )= )=Æ [j] )=BBBBBB [B] ÆBBBBjB)=Bj )= B)=j)=)=)=B )= [)=] B )=B )= B)= [B] )=B)=BB BÆBBB)=BÆB)=BBB)=)=j B B)=)= [Æ][B] )=)=BÆ)=)= )= [B][)=][B] B)=B )= B)=B)= [j] )=BBBÆ)=)=B [)=)=] ! )= )=)=B)=jB)=)=)=)=j B )=B )= )=)=)=)=B)=BBB [Æ] )= )= )= )= )=B)=)= = )= )=)= )=)=)= [j] B)=)=BB )= )=)=j )= [B] )= [B] )=B)= [B] )= B)=j)=)=)= [j] )=)=BB=Æ )=)= B)=)=)= [)=B][B] B j [B)=] jÆ [)=] )=B! )= B)= B B VII j)=jÆ)=)==)= [)=] )=)= [)=] B)=)=!)=)=B )= )=)=B [B] BB=j )= BB)= )= !B)=BB)=B)=)= )= B [B] [Æ] )= )= !)=BB)=BB)=)= )= [!] j)=)=B [B] =B [B] Boca 3575 B [)= )=] B )= ! )= j [j] )= [B][)=] j [j] B Nuto 4270 Bj )= Alvarez-Oveja 4505 BB!B Bj j [j] B Cuesta 4870 B!)= )= IIIZorro 1721 )= IV )= B Zorro 4095La Brea D BBB Zorro 3560 BB Lucia 3995Nuto 5510 B Zorro 3495La Brea 3555 B)=! La Brea 3685Nuto 4760Nuto 5085 B Hilda 4520Tamarindo 3 B Tamarindo 2XXII 0 5 10 20 30 40Kilometers
Lagunitos 5565 jB BBB BB Nuto 5365 j BB Abejas 1X
WellsContStatus Z-6 Portachuelo Oeste 4425Pelusa 1 -1X (Litoral) ! Chir EX4 15X [j] = [j] "Æj)=)=Æj)=B)=j)=)= )= [)=] j)=)=)=j)=j Mirador NX-14 ! La Isla 1x [j] j Mirador 4750Mirador 4510 B Tamarindo 1X
B" Dry Paita NpXb-24XChira RC1-6XDMirador SX-38 )=j)= )=)= P.G. 39-X-1 j Peoco 7-1 B BB Paita 4Paita 3Paita 1 B La Huaca 1
Æ Gas Z-2B )= Zapata PhX E XIII B Paita 2
!# Gas & cond ! B j Piura 1
! Gas shows
Colan 1X
= Z-34Not available )= Silla XXIV-07-1X STSilla XXIV-07-1X
)=1 OilOil & gas XXIV ! Zapata PhX A Aguila-XXIV-07-1xdCISNE - 1X " B Buho 1X EXpecta 1-X-1 San Alberto 2X
0 Oil & gas shows = B ["] " Diucon 1X B [B] j San Alberto 1X
j Oil shows
AVD AOI Zapata PhX N
Magnetic Field RTP Fields !B Zapata PhX O XIII Viru 69-X-1 Viru 4-X-2 Mochica XIII-30-2X XXI
RGB !Æ B Æ Mochica 1X
Red: Band_1Green: Band_2Blue: Band_3Z-45 Z-6 ! Cas P75 2XBecara 1XLobo 1X !ÆBÆ [B] Viru 45-X-1Viru 4-X-1 B" B Viru 5-X-1 XXVIII
B Æ
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A map of magnetic response indicates a major high running through the centre of the block associated with an inversion tectonic trend.

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Level 1, 12 Kings Park Road West Perth WA 6005 PO Box 44 West Perth WA 6872

abn: 62 111 823 762 tel: +61 8 9226 4500 fax: +61 8 9226 4300 antillesoilandgas.com.au

15 May 2015

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ASX ANNOUNCEMENT

__________________ Surrounding activity includes the oil production from the Talara and Sechura Baisns with associated pipelines. Ease of access is provided through the major highways in the area allowing export by road.

The investment is an agreement with the regulator Perupetro of a right to evaluate the area and to then move to an exploration license. The fiscal terms of the area are highly attractive with low cost due to the ease of access for onshore drilling activity and seismic acquisition.

About Peru

Peru is one of the fastest growing economies in the region. In 2012 it achieved an annual growth rate of 6.3% GDP. Main economic activities are agriculture, mining and petroleum production. Peru has one of the lowest country risk ratings for South America (Peru’s oil & gas investment guide E&Y 2014-15).

Peru has been an oil producing nation since the early 1900’s and currently has an annual production of approximately 700,000 barrels of oil per day. Peru is a net exporter of oil and LNG. Major operators in country include Repsol, Ecopetrol, PacificRubiales, SK and Hunt.

“Antilles looks forward to the evaluation of the study area in this productive area which we have identified in Peru and the further development of our exploration portfolio. Peru is an attractive investment environment where Antilles looks to understand and develop further exploration and development opportunities.”

David Ormerod Managing Director

For further updates refer to the website or contact the Managing Director for Antilles, Mr David Ormerod, on (03) 9674 0413.

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Level 1, 12 Kings Park Road West Perth WA 6005 PO Box 44 West Perth WA 6872

abn: 62 111 823 762 tel: +61 8 9226 4500 fax: +61 8 9226 4300 antillesoilandgas.com.au