TALIUS GROUP LIMITED — Interim / Quarterly Report 2016

Jul 28, 2016

ASX ANNOUNCEMENT

29[th] July 2016

==> picture [220 x 87] intentionally omitted <==

– ASX QUARTERLY ACTIVITIES REPORT

JUNE 2016 QUARTER

Antilles Oil and Gas NL (“Antilles”, ASX: AVD) is pleased to provide an update on developments for the Company.

Block 105, onshore Peru

During the quarter, the Company amended its Farm-In Agreement with fam-in partner Union Oil and Gas Group Ltd (“Union”), a summary of the amendments is as follows:

• Changing the Participating Interests so that Union’s interest (“Farmee”) increases from 50% to 80% and Antilles (“Farmor”) interest decrease from 50% to 20%;

• Should Antilles be appointed as the operator of Block 105 that Union becomes the Operator of the project subject to the terms of the Joint Operating Agreement;

• An increase from 75% to 100% of the costs incurred by the Farmor must be paid by the Farmee in regards to the drilling of the first well;

• That the Farmee must issue their own security bond in the amount of US$1 million to the relevant Peruvian government agencies to facilitate the release of the existing bank bond that the Farmor currently has in place.

The Company continues to work with Union to progress the proposed well to be drilled on the block and working to obtain government approvals.

Corporate

The Company also completed the capital raising approved by shareholders at a general meeting held on 12 April 2016, resulting in a further inflow of $1.77 million net after costs.

Damian Black

Non-Executive Director

For further updates refer to the website or contact the Company Secretary & NonExecutive Director for Antilles, Mr Ranko Matic, on (08) 9226 4500.

Level 3, 216 St Georges Terrace Perth WA 6000 PO Box 7775 Cloisters Square Perth WA 6850

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