TALIUS GROUP LIMITED — M&A Activity 2009

Jun 10, 2009

11 June 2009

BLAZE ASSET Pty Ltd

ACN 134 038 412 tel +61 8 9486 1122 fax +61 8 9486 1011

Suite 2, 16 Ord Street West Perth Western Australia 6872

Company Announcements Office

ASX Limited 20 Bridge Street SYDNEY NSW 2000

Blaze Asset Pty Ltd - Takeover bid for all shares in Target Energy Limited

Extension of Offer Period

I refer to Blaze Asset Pty Ltd's (Blaze) off-market takeover bid for all of the fully paid ordinary shares in Target Energy Limited (Target).

Enclosed is a notice of variation of Blaze's takeover offer dated 11 June 2009 (Offer), contained in its bidder's statement dated 16 April 2009 and its supplementary bidder's statement dated 5 June 2009. The notice extends the Offer Period so that it is now scheduled to close at 5.00pm (Perth, Western Australia time) on 17 July 2009 (unless further extended).

Attached are copies of the following documents:

• 1. Notice of variation to extend the Offer Period in accordance with sections 650D and 630(2) of the Corporations Act 2001 (Cth).
• $2.$ Letter to Target's shareholders attaching the notice.

A copy of the notice of variation was lodged today with the Australian Securities and Investments Commission and has been given to Target and each person to whom the Offer was made.

For the purposes of ASX Listing Rule 3.2, Blaze gives notice that:

• $(a)$ it had a relevant interest in nil Target shares when the first of the offers was made; and
• $(b)$ it had a relevant interest in 5.14% of Target's shares as at 8.00am (Perth, Western Australia time) on the date of the extension of the Offer Period.

Alex Bajada Chairman Blaze Asset Pty Ltd

Notice of Variation - Extension of Offer Period

Blaze Asset Pty Ltd ACN 134 038 412

To: Target Energy Limited ACN 119 160 360 (Target)

Australian Securities and Investments Commission Commission And To: And To:

And To: Each person to whom offers were made under the takeover bid referred to in this notice

• $1.$ Blaze Asset Pty Ltd (Blaze) gives notice under subsection 650D(1) of the Corporations Act 2001 (Cth) (Act) that:
• It varies its takeover offer, contained in its bidder's statement dated 16 April $(a)$ 2009 and supplementary bidder's statement dated 5 June 2009 (Bidder's Statement) for all of the fully paid ordinary shares in Target by extending the period during which the offers will remain open pursuant to section 650C of the Act. The offers will now close at 5.00pm (Perth, Western Australia time) on 17 July 2009 (unless further extended).
• The Bidder's Statement is varied by replacing 19 June 2009 with 17 July 2009 $(b)$ in:
  • $(i)$ section 10.2 of the Bidder's Statement; and
  • $(ii)$ in each place where the closing date for the Offer is specified in the Bidder's Statement or the Acceptance Form.
• The Bidder further gives notice under section 630(2) of the Act that: $2.$
• the new date for giving notice of the status of the conditions set out in section $(a)$ 10.8 of the Bidder's Statement is 10 July 2009; and
• none of the Prescribed Occurrences (as defined in section 10.8 of the Bidder's $(b)$ Statement) have occurred. However, the defeating conditions in section 10.8 of the Bidder's Statement still apply to the Offer.

Lodgement with ASIC

A copy of this notice was lodged with ASIC on 11 June 2009. ASIC takes no responsibility for the contents of this notice.

Date: 11 June 2009

Signed for and on behalf of Blaze Asset Pty Ltd pursuant to a unanimous resolution passed by its directors by:

Alex Bajada

Anthony Short

243946v1_CLIENT_ - Notice of Variation - Extension of Offer Period 11.06.09

11 June 2009

BLAZE ASSET Pty Ltd

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ACN 134 038 412 tel +61 8 9486 1122 fax +61 8 9486 1011

Suite 2, 16 Ord Street West Perth Western Australia 6872

[Insert Address of Shareholder]

.
President

-Arestima ess

Dear Target Shareholder

Blaze Asset Pty Ltd - Takeover bid for all shares in Target Energy Limited

Extension of Offer Period

I am writing to advise you of an extension of the offer made by Blaze Asset Pty Ltd (Blaze) for your shares in Target Energy Limited (Target).

Enclosed with this letter is a notice of variation extending the offer so that the offer period will now end at 5.00pm (Perth, Western Australia time) on 17 July 2009 (unless further extended).

If you have any queries on how to accept the Offer, please contact Blaze on (08) 9486 1122.

Yours faithfully

Alex Bajada Chairman Blaze Asset Pty Ltd