On 23 August 2013 Tellus completed the acquisition of PNC AUST Pty Ltd.
As a result of the PNC acquisition, Carl Dorsch has been appointed as Managing Director. Carl has over 35 years experience in the hydrocarbon sector which will greatly benefit the exploration and development of these exciting oil and gas assets.
Tellus holds a 50% interest in PEL 105 in the highly prospective Cooper Basin in South Australia, the other 50% interest being held by Senex Energy Ltd..
In addition, PNC has a 100% interest in ATP904P in the Surat Basin in Queensland, subject to ministerial approval.
Tellus also has a large tenement package at Chillagoe in North Queensland including the Wandoo and Empire prospect.
In regional NSW, the Company also holds Exploration Leases prospective for Intrusive Related Gold Deposits (IRG).
A key part of the Company's strategy is to explore and develop its oil and gas assets and maximise the value of its existing gold assets.