Rambitto, if I remember correctly, you should be one of the...

Rambitto, if I remember correctly, you should be one of the substantial holders and given that, you should be aware of managements' plans given that it has been clearly stated in the quarterly reports!

Drover -> “The Company’s priority projects are progressing very well, with the drilling of Drover #1 (onshore Western Australia) set to commence during the June 2014 Quarter, and the stimulation phase on track for late 2014.

Allen Dome North -> The assessment reported a 2P estimate of 479,000 barrels of recoverable oil reserves, net to Titan. This gives the Company reassurance of an ongoing revenue stream from this asset. Ultimate recovery of these reserves will require the drilling of two more wells. -> I.e. No plans to drill any time soon

Holcomb Ranch -> as per the announcement that was made today

Sargent Ranch -> With the help of expertise in re-entry drilling, a procedure has been developed specifically for the Poole #3 well. The Re-Entry will be undertaken by an IOM Coil Tubing Unit. Reentry costs 400k. Titan Energy is offering a 25% Working Interest in the Sargent Ranch project. The farmee to pay US $200,000 sunk costs to
date and 50% of work over costs to earn a net 25% W.I. in the Sargent Ranch lease area. Titan will deliver a 73% NRI.-> In short, we are still waiting for a farmee

Perry Ranch -> waiting for a farmee again

Sodbuster II -> TITAN ENERGY LLC is seeking a Joint Venture party interested in acquiring a portion of its 100% Working Interest (WI) in the Sodbuster Oil Prospect in Colorado,USA. This is an excellent opportunity to secure a strategic position in a highly prospective, historic oil producing area.

Greathouse prospect: Farm In Terms Sunset Energy, a wholly owned subsidiary of Titan Energy Ltd is offering a 100% working interest in the Greathouse lease area. The farmee to pay prospect fee of US$250,000 for sunk costs to date and pay 100% of drilling and completion of a test well into the tanks to earn 75% WI in the prospect. Sunset will deliver a 73% NRI.

Kimmundy: Farm In Terms Sunset Energy, a wholly owned subsidiary of Titan Energy Ltd is offering a 100% working interest in the Greathouse lease area. The farmee to pay
prospect fee of US$250,000 for sunk costs to date and pay 100% of drilling and completion of a test well into the tanks to earn 75% WI in the prospect. Sunset will deliver a 73% NRI.

Farm ins often take a long time to conclude as the interested parties must consider the suitability of the offer before anything can be concluded. All this information is publically available if you look on the TTE website or flick through the past announcements.

In short, farm out is taking a long time (perhaps an indication of the lack of interest) but management has given a guideline of what they plan to do. Perhaps give them a call if you are still unsure as TUI likes to do given that you are/used to be a large holder. Main problem is just the working cash.