Target Energy - Australian petroleum exploration and production company.

Welcome

Target Energy Limited (“Target”) is an Australian petroleum exploration and production company based in Perth, Western Australia. Listed on the Australian Stock Exchange on 27 November 2006, the company has the stock code “TEX”.

Target was formed to explore for and produce hydrocarbons in the United States of America, which continues to be one of the best operating environments for oil and gas in the world due to high value for products and low sovereign risk. Texas and Louisiana, the initial operating areas selected by Target, are well-established petroleum provinces that continue to deliver significant discoveries to feed the energy- hungry US market. Add good access to infrastructure, modern technology and a strong technical team to this equation and the makings are there for the development of a successful oil and gas business.

Since listing, we have drilled seven wells, four of which are in production, with a fifth slated to come on-line in May 2008. The company had its first discovery only four months after listing, first production seven months after listing and first cash ten months from listing. A most satisfactory progression that we look forward to continuing.

Ongoing drilling in 2008 will continue to be exciting and active, with the Company preparing to participate in another five wells, including the East Chalkley oil appraisal and development program and the potential “Company-Maker” Catapult prospect.