Ann: Firm Commitments for $10M Capital Raising, page-14

An unbelievable snub at existing shareholders.

TEG operates very similar to a Family Company and so far this financial year (from the 3 Quarterly reports) has spent an average of $82,000 PER WEEK on themselves (staff and Admin) --- that's $3,224,000 to 31st March 2021 (yes ... on just Staff and Admin) !!!!!!!

The oil price makes no difference to this outfit, they will spend whatever they can.

Issuing 454,545,455 FREE Options at an Exercise Price of 3.5c is a complete disgrace. Where is the real incentive with these options ... these options have nothing to do with Performance (as they should) ... they are simply a reward so that those participating can get there money back asap !!! .... these options should have been issued at 10c (at the very minimum, more likely 15c).

And ----> The fact that the Directors and Staff are happy to participate and issue these low priced FREE options to themselves (and exclude the rest of us) is beyond amazing and should be investigated by ASIC.

As a long term shareholder I am stunned at such arrogance.