XENITRA LIMITED — Share Issue/Capital Change 2012

Aug 23, 2012

ASX ANNOUNCEMENT

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EMPLOYEE EQUITY PARTICIPATION

24 August 2012

www.titanenergyservices.com.au ASX ticker: TTN

Titan Energy Services Limited ( Company ) advises of movements in employee equity participation. Further details are contained in the Appendix 3B accompanying this announcement. In summary:

Issue of shares to long serving employees

The Company has today issued 47,056 ordinary shares to long serving employees. The shares have been issued under the Company's Employee Share and Option Scheme.

Lapse of Consultant Options

The Consultant Options referred to in the Company's prospectus have expired following the consultant ceasing to be a consultant of the group. The Consultant Options comprised the following:

Consultant Options	Number of options lapsed and cancelled	Exercise price
OptionsTrancheA	212,915	$0.70
OptionsTrancheB	170,332	$0.94
OptionsTranche C	170,332	$1.17

Lapse of Performance Rights

170,000 unlisted Performance Rights granted under the Company's Performance Rights Plan have lapsed due to staff movements. These Performance Rights have been cancelled.

ENDS

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. It recently commenced its own catering company, Nektar Remote Hospitality.

Titan currently manages 236 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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