ann out: caprock update, page-8

New ANN:

24 July 2013
POOLE #C-1 WELL UPDATE
Australian oil and gas company Titan Energy Ltd (ASX: TTE) (Titan Energy or the
Company)is pleased to provide an update on drilling activities related to the Poole #C-
1 “cap rock” well at its Allen Dome oil field in Texas.
Progress to date has been significantly affected by severe weather conditions in the
region over the past few days and is currently at a depth of 378 feet where
contractors are waiting for the inclement weather to clear to allow for the safe
installation of surface casing.
Once the surface casing is cemented in place and tested, the Poole #C-1 well will be
drilled to its pre-drill planned Total Depth of 850 feet.
Poole #C-1 well is located on the southern portion of the Allen Dome salt dome where
Titan holds an approximately 85% WI.
If successful the well has the potential to add a further 20+ barrels of oil per day
(bopd) to Titan Energy’s Allen Dome production.
The Company is also continuing planning for a follow-up cap-rock well, Poole #C-2,
which has similar parameters to the current well.
ABOUT TITAN ENERGY
Western Australian-based Titan Energy Ltd (ASX: TTE) is a global oil and gas explorer
with growing interests in Australia and the United States.
It holds a 100% interest in onshore North Perth Basin permit DR11 and an 18.5%
interest in North Perth Basin permit EP455, where AWE has farmed in.
The Company has also built up a significant onshore presence in the USA with
completed agreements to:
• Acquire Working Interest (WI) in 344 gross acres on the southern side of the
Allen Dome Salt Dome in Brazoria County, Texas;
• Acquire an approximate 94% WI in 276 acres of productive acreage on the
Northern flank of the Allen Dome;
• Acquire an approx.100% WI in 302 acres on the eastern flank of the Allen
Dome;
…/2— 2 —
• Farm-in for an 80% Working Interest (WI) in the 1360 acre Sod buster Prospect
in Logan County, Colorado;
• Acquire a 50% interest in the “ready-to-drill” approximately 252 acre
Greathouse Prospect, plus an option over an additional 92 acres, within the
South Lake Charles oil and gas field in Louisiana;
• Farm-in for 50% interest in the proven Krotz Springs oil and gas field in
Louisiana, with an early opportunity identified to re-enter the historic Joy
Lawler #1 well.
• Acquire 594.5 acres in the Kinmundy Prospect area in the Illinois Basin; and
• Acquire approximately 17,000 acres of prospective shale properties in the US
state of Nevada.
• Acquire a 100% WI in the 344 acre Sargent Ranch oil and gas field in Brazoria
County, Texas.
The Company continues to review additional projects that satisfy the Company’s
strategic objectives.
MR T