People

Peter Love

Chairman and Non-Executive Director

Mr Love has extensive experience in the ASX listed resources space as well as equity capital markets. Mr Love is currently Non-Executive Chairman of Intrepid Mines Limited and is a consultant to Byron Energy Limited. He was formerly Vice President of Operations for Maverick Drilling & Exploration.

Peter Evans

Non-Executive Director

Mr Evans has over 30 years’ experience as a stockbroker with Paul E Morgan & Co and subsequent entities including Morgans Stockbroking, ABN Amro Morgans and RBS Morgans. He was Director – Sales at the Morgans entities from 1984 until 2013 and remained a Director until his retirement in 2013. Mr Evans is currently Non-Executive Director of Intrepid Mines Limited, and is also serving on a number of unlisted Company boards. Mr Evans holds a Bachelor of Commerce and Diploma of Advanced Accounting from the University of Queensland.

Andrew Crawford

Non-Executive Director & Company Secretary

Mr Crawford has 14 years chartered and commercial accounting experience having commenced his career with KPMG in 2001.  Mr Crawford currently holds the office of company secretary for three ASX listed companies, whilst also delivering specialist accounting, taxation and corporate services to his private clients. Mr Crawford is a Chartered Accountant, Registered Tax Agent, holds a Bachelor of Commerce and Diploma of Financial Services.

MR OLMOS PROJECT

Talon operates the MR Olmos Project in McMullen County, Texas.  The project comprises approximately 3,600 acres at 100% working interest and a further 200 acres at a 10% working interest.  The target reservoir is the Olmos tight sandstone.  Talon currently operates one MR Olmos horizontal producing well (Quintanilla OL-1H, WI 10%), and two vertical producing wells (approx. 95% WI).

Corporate Governance

Share Trading Policy

This policy is intended to apply to the following designated officers of Talon Petroleum Limited (Talon Petroleum) and their spouses and dependents, namely the Directors, CEO, Company Secretary, Financial Controller, any other officers having authority and responsibility for planning, directing and controlling the activities of Talon Petroleum and all other officers or employees who may have access to market sensitive information about Talon Petroleum that has not been released to the market (Designated Persons). The policy was adopted by the Board on 8 February 2013.

Board Charter

This Board Charter sets out the role, duties and responsibilities of the Board of Talon Petroleum Limited (Talon Petroleum), as adopted by the Board on 8 February 2013. It is adopted with a view to assisting Directors to understand their role, and the expectations placed on them when accepting or continuing in the role of Director of Talon Petroleum.

Talon Constitution

The constitution of Talon Petroleum Limited sets out the rules governing the structure and control of the company and its members including the rights and liabilities attached to Talon Petroleum shares. The Constitution was adopted on 28 April 2015.

Audit Committee Charter

The purpose of this Audit Committee Charter is to specify the authority delegated to the Audit Committee (“Committee”) by the Talon Petroleum Limited Board (“Board”) and to set out the role, responsibilities, membership and operation of the Committee.

The Committee is a committee of the Board and is authorized by the Board to assist it in fulfilling its statutory and regulatory responsibilities. It has the authority and power to exercise the responsibilities set out in this Charter and under any separate resolutions of the Board granted to it from time to time.

Continuous Disclosure Policy

Talon Petroleum is a company listed on the Australian Stock Exchange and, as such is subject to, amongst other things the rules relating to continuous disclosure under the ASX Listing Rules. In this respect, in the interests of investor confidence, the ASX Listing Rules require listed companies to disclose to the market information which a reasonable person would expect to have a material effect on the price or value of the company’s securities. This policy aims to ensure that Talon Petroleum complies with this obligation. The policy was adopted by the Board on 8 February 2013.

Corporate Governance Statements

This statement outlines the main corporate governance practices in place throughout the 2013 financial year, which comply with the ASX Corporate Governance Principles and Recommendations (Second Edition), unless otherwise stated. The statement was adopted by the Board on 28 March 2014.

Risk Management Policy

This policy is the basis for Talon Petroleum Limited (Talon or Company) establishing a sound system of risk oversight and management, management of material business risks, and internal controls. The policy was adopted by the Board on 25 March 2014.

Remuneration Committee Charter

The purpose of this Remuneration Committee Charter is to specify the authority delegated to the Remuneration Committee (“Committee”) by the Talon Petroleum Limited (“Talon” or the “Company”) Board of directors (“Board”) and to set out the role, responsibilities, composition, authority, membership and operation of the Committee.

The Committee is a committee of the Board and is authorized by the Board to assist it in fulfilling its statutory and regulatory responsibilities. It has the authority and power to exercise the responsibilities set out in this Charter and under any separate resolutions of the Board granted to it from time to time. The ultimate responsibility for remuneration policy matters rests with the Board