XENITRA LIMITED — Capital/Financing Update 2012

Nov 5, 2012

6 November 2012

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MEDIA/ASX ANNOUNCEMENT

APLNG – ATLAS DRILLING COMMITMENT FOR FOURTH RIG & CONTRACT

www.titanenergyservices.com.au ASX ticker: TTN

TITAN Energy Services Limited (TTN) has expanded its Atlas Drilling division, with an agreement to operate and supply a fourth rig.

Atlas signed a Letter of Commitment (LOC) with Australia Pacific LNG (APLNG) for a one‐year drilling contract for the new rig, with two 1 year options (1 +1 +1).

The LOC with APNLG will allow Atlas to purchase and deliver a Surface Casing Rig Package (Atlas Rig 4).

Atlas estimates that the total rig package capital expenditure and mobilisation costs will be approximately $4.0m and will be funded via a combination of debt and operating cashflows.

The next phase under the LOC is to finalise the contract. Further information regarding the contract and the financial impact on the company will be provided at that time.

Titan expects Atlas Rig 4 to be fully operational for APLNG in late February, early March 2013, taking into account potential weather, and shipping delays.

The rig is being commissioned as a surface casing rig and will drill ahead of APLNG’s main production drilling rig fleet in order to accelerate the delivery of production wells.

“The addition of a fourth rig, underpinned by a long‐term contract with a blue chip client such as APLNG is a rewarding achievement for Atlas Drilling and enhances the business’s reputation as a credible and competent driller,” Titan’s managing director Jim Sturgess said.

“With the addition of this contract, Atlas Drilling will have long‐term contracts with three of the four major coal seam gas (CSG) developers in Queensland, namely APLNG, QGC and Arrow Energy.”

APLNG is Australia’s largest CSG producer and is developing gas fields in Queensland’s Surat and Bowen basins for an LNG facility off the coast of Gladstone. APLNG is a CSG‐to‐LNG joint venture partnership between Origin, ConocoPhillips and Sinopec.

ENDS

For investor or media inquiries:

Mr Jim Sturgess Managing Director Tel: 0402 890 654

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About Titan

Titan Energy Services Limited (ASX: TTN) is a diversified oil and gas services business with a focus on the rapidly growing CSG‐LNG industry in eastern Australia.

Titan was established in 2007, through its wholly owned subsidiary Atlas Drilling. In September 2011, Titan acquired the Resources Camp Hire (RCH) business, a provider of flexible, innovative temporary accommodation solutions to the oil and gas sector, and the remote infrastructure construction sector. Through its subsidiary Nektar Remote Hospitality, Titan also offers remote catering and camp management services.

Titan currently manages 411 remote accommodation rooms, operates three drilling rigs, owns and hires equipment (including pumps and ancillary drilling tools) and owns and deploys transport assets including trucks, trailers and loaders.

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