titan energy prepares to drill back-to-back p

TITAN ENERGY PREPARES TO DRILL
BACK-TO-BACK PERTH BASIN
EXPLORATION WELLS
HIGHLIGHTS:
• Government approval received for extension to DR11 permit
• First of two exploration wells targeted to spud late January 2013
• Wells to test two conventional targets
• Reese #10 exploration well drilling ahead at Allen Dome
Australian oil and gas company Titan Energy Ltd (ASX: TTE) (Titan Energy or the
Company) is pleased to report that on the 4
th
of January, 2013 it received notification
from the Department of Mines and Petroleum that “a five month suspension of Year 3
and a corresponding extension of term for Drilling Reservation DR 11 has been
approved”.
Titan is now awaiting final Environmental approval before being granted a Drilling
Permit to drill two petroleum exploration commitment wells in DR11.
The Company has contracted a drilling rig suitable to drill the two wells, each to a total
depth of approximately 1,500 metres (4,500 feet).
Once the Drilling Permit is received the first well to be drilled by Dominion Drilling’s
UDR 1500 HD rig will be Warradarge-1. It is currently targeted to spud late January
2013 and to take approximately 16 days to reach TD.
Titan Energy is planning to collect formation cutting samples and utilise modern
downhole data acquisition tools during the drilling programme to assist in fully
assessing the conventional and unconventional hydrocarbon potential within this
section of DR11.
Upon completion of drilling and testing at Warradarge-1, the rig will be moved 4,100
metres to the northeast to drill Warradarge-2, which has a similar drill programme.
The two wells are targeting the proven Cadda Formation and Cattamarra Coal
measures of the Jurrasic sediments within DR11.— 2 —
…/3
Titan Energy Ltd ABN 53 109 213 470
The Cattamarra Coal measures occur at shallow depth west of the Warradarge and
Lesueur Faults to the west of DR11 and are approximately 300 metres (900 feet) thick
in the Woodada gas field to the west of DR11.
“We are very pleased to be on track to drill our first wells into the DR11 permit, which
has the potential to be a key asset for the Company,” Titan Energy’s Chairman, Darren
Levy said.
“Recent drilling activity in nearby permits in this section of the onshore Perth Basin
has shown that the Cadda Formation and Cattamarra Coal measures have
considerable potential to hold significant gas reserves.
“We will be aiming to bring gas to the surface for sampling with the drilling of these
two wells, and if successful we will then apply for a location permit over the area.
“We would particularly like to thank the WA Department of Mines and Petroleum
(DMP) for their support and assistance in bringing activities in DR11 to this exciting
stage.”
ALLEN DOME TEXAS

Titan Energy is also pleased to provide an update on the Reese #10 exploration well it
is drilling at the Allen Dome field in Texas.
The Rotary
Exploration Rig 2
is currently
drilling the Reese
#10 exploration
well at the Allen
Dome North field
in Texas. Water
from recent heavy
rains is still visible
in the right
foreground.— 3 —
…/4
Titan Energy Ltd ABN 53 109 213 470
After the start-up of drilling of Reese #10 was delayed by heavy rain, the exploration
well was spudded on January 3.
Surface casing has been set at 750 feet and the well is currently drilling ahead to a
Total Depth (TD) of 5,200 feet.
Located on the Northern flank of Allen Dome, the pre-drill forecast was for Reese #10
to take approximately eight days to reach TD. The well is targeting five potential
zones, each of which has been assessed to have the potential of producing 50 barrels
of oil per day (bopd) or more.
Using the same rig Titan Energy is then planning to drill a second exploration well, on
the Northern flank as a development well to the Reese #10 well or, targeting a proven
oil producing sand at a depth of 1,400 feet.
The Company is negotiating with several rig operators for drilling the Southern flank
where it will drill back-to-back wells targeting various zones.
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.
The Company is actively searching for oil and gas in the highly prospective onshore
Perth Basin in Western Australia and in proven international hydrocarbon producing
areas.
Titan Energy’s Warradarge Seismic Survey in North Perth Basin permit DR11 has been
used to define the location of the two wells proposed for drilling by the Company in
2013.
Titan Energy is also participating in a Joint Venture with AWE Limited which has
farmed in for an 81.5 per cent equity share in an area known as Eneabba South
(EP455) in the North Perth Basin.
The Company has also built up a significant onshore presence in the USA with
completed agreements to:
• Acquire an 87.5% interest in 344 gross acres on the southern side of the Allen
Dome Salt Dome in Brazoria County, Texas;
• Acquire an approximate 84% working interest in 276 acres of productive
acreage on the northern flank of the Allen Dome;
• Farm-in for an 80% Working Interest (WI) in the 1360 acre Sodbuster Prospect
in Logan County, Colorado;— 4 —
Titan Energy Ltd ABN 53 109 213 470
• Acquire a 50% interest in the “ready-to-drill” approximately 148 acre
Greathouse Prospect, plus an option over an additional 209 acres, within the
South Lake Charles oil and gas field in Louisiana;
• Acquire 441 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.
The Company continues to review additional projects that satisfy the Company’s
strategic objectives.