TALIUS GROUP LIMITED — Major Shareholding Notification 2009

Jun 4, 2009

5 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 - Notice of Initial Substantial Holder in Target Energy Limited

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).

In accordance with section 671B of the Corporations Act 2001 (Cth) Blaze today announces it's initial substantial shareholding in Target Energy Ltd.

As of the 04 June, 2009 Blaze was the owner of 5,354,095 shares in Target representing a 5.14% voting power.

Enclosed is Form 603 éx Baja Chairman Blaze Asset Pty Ltd

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Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	TARGET ENERGY LTD
ACN/ARSN	119 160 360
1. Details of substantial holder (1) Name	BLAZE ASSET PTY LTD
ACN / ARSN (if applicable)	134 038 412
The holder became a substantial holder on	06 2009. 04

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	votes (5) Persons' ----	Voting power (6)
Ordinary Shares	5 354 095	5,354,095	14% 5.

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Blaze Asset Pty Ltd	Registered Holder	5.354.095
Advance Energy Ltd	Relevant interest under section 608 (3)
Odin Energy Ltd	Relevant interest under section 608(3)

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Registered holder of	Person entitled to be	Class and number of
interest	securities	registered as holder (8)	securities
Blaze Asset Pty ∟td	Blaze Asset Pty ∟td	Blaze Asset Pty Ltd	5.354.095

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
Blaze Asset Pty Ltd	During Offer Period of takeover	1 cent cash $($0.01)$ for each Target Energy Ltd Share	0.75 Advance Energy Ltd Shares for each Target Energy Ltd Share	5,354,095

1. Associates The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows: Name and ACN/ARSN (if applicable) Nature of association Odin Energy Ltd 50% shareholder of Blaze Asset Pty Ltd Advance Energy Ltd 50% shareholder of Blaze Asset Pty Ltd 7. Addresses The addresses of persons named in this form are as follows: Name Address Blaze Asset Pty Ltd Suite 2, 16 Ord St West Perth WA 6872 Odin Energy Ltd Suite 2, 16 Ord St West Perth WA 6872 Advance Energy Ltd Suite 2, 16 Ord St West Perth WA 6872 Signature print name AI FX∕R,∖ JADA capacity DIRECTOR date $05/$ 06 /2009 sign here DIRECTIONS If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ manager and trustee of an equity trust), the names dould be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form. $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001. $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations A. The voting shares of a company constitute one class unless divided into separate classes. $(4)$ $(5)$ The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in. $(6)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(7)$ Include details of: $(a)$ any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract. scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies). See the definition of "relevant agreement" in section 9 of the Corporations Act 2001. If the substantial holder is unable to determine the identity of the person (eg. If the relevant interest arises because of an option) write "unknown". $(8)$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, $(9)$ or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

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15 July 2001