quarterly, page-60

Did we all read the quarterly thoroughly?

MYANMAR INVITATION

Subsequent to the end of the quarter
Titan Energy was
notified by the Ministry of
Energy of the Government of the Republic of
the Union of Myanmar that it
had
qualified to participate in a
an international, competitive bidding round that is being
held for 18 onshore blocks.
After being invited to make technical and financial criteria presentations to the
Ministry of Energy, Titan Energy has been selected to participate in an overview of the
geology of the 18 onshore blocks and representative data to be presented by the Geological/Geophysical Team of the Myanmar Oil & Gas Enterprise (MOGE) on May 9,
2013. Bids for the blocks are expected to be accepted shortly afterwards.



Myanmar is considered to be highly prospective for oil and gas and the onshore blocks have attracted some of the world’s biggest oil and gas companies, with 59 companies
qualifying to bid, including 12 from Australia.

59 companies and 12 from Australia?

Titan Energy has formed a Joint Venture in Myanmar with a local company, which it has been working closely with for some time,the local Joint Venture partner will hold
a minority stake in the JV bid.

All I can say is let's not race to judgement to quickly.

Cheers