FIN RESOURCES LIMITED — Capital/Financing Update 2008

Jun 30, 2008

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Monitor Energy Limited in discussions with third parties to JV Kyrgyz Republic oil and gas licenses after original partner withdraws

Monitor Energy Ltd (“Monitor” or “the Company”) today announces that Sentry Petroleum Ltd (“Sentry”) had withdrawn from its Joint Venture Operating Agreement (“Agreement”) for its Kyrgyz Republic oil and gas licenses due to Sentry not being able to meet its funding commitment.

Under the Agreement, which was announced to the Australian Securities Exchange on 14 April 2008, Sentry was required to raise sufficient working capital to meet the expenditure terms and conditions of its joint venture agreement. It has today advised the Company that it has withdrawn from the agreement.

The Company has already started discussions with third parties with a view to a future joint venture and is confident a more commercially beneficial agreement may be negotiated given:

• the recent increase in global oil prices from approximately US$65 per barrel at the time of the original Heads of Agreement (per ASX announcement on 7 November 2007); - the current global energy situation and oil prices over US$140 per barrel; and

• the significant exploration results achieved by the Company in the past year (per ASX announcement on 8 May 2008).

The Company also intends to appoint an independent firm that specialises in assisting with such processes now that it is unconstrained, thereby ensuring the greatest possible exposure and most favorable terms in the current energy constrained market and the shortfall of suitable exploration acreage, particularly in proximity to large producing oil and gas fields.

Monitor will also continue exploration of its Kyrgyz oil and gas licenses in the short term. This work is aimed at continuing to advance the value of the licenses via low cost and innovative exploration techniques, including further complementary and detailed gravity surveys (using equipment owned by the Company) and in situ geochemical source rock analysis by portable pyrolysis equipment.

35 Richardson Street West Perth WA 6005 Australia PO Box 1440 West Perth WA 6872 Australia Ph: +61 8 9211 1555 Fx: +61 8 9211 1500 ABN 25 009 121 644

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About the Kyrgyz Republic Projects

The Kyrgyz Republic lies between north-western China, Kazakhstan to the west and Uzbekistan to the south west.

The Company holds four permits totalling 9,500 km² in two project areas within the Kyrgyz Republic. The northern permits lie within 100 kms of the Junnggar Basin (2000 reserves: 63 billion barrels oil, 13 trillion cubic feet, gas) in China and close to recent oil discoveries in Kazakhstan. The southern project area lies within 150 kms of the massive Tarim Basin (2004 reserves: 170 billion barrels oil, 710 trillion cubic feet gas) in north western China and has similar geological settings.

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Monitor believes it is in a privileged position to participate in the evolving oil and gas sector of the Kyrgyz Republic through its existing oil and gas licenses and is actively pursuing further regional opportunities with increased potential for early oil and gas production. Central Asia is becoming one of the worlds emerging oil and gas regions, with substantial fields located in China, close to the southern Kyrgyz border, Kazakhstan, Uzbekistan, Tajikistan and Azerbaijan. The Chinese government has recently signed an agreement with both the Kyrgyz and Kazak governments to build a supply pipeline from Kazakhstan through Kyrgyzstan to supplement China’s unprecedented demand for oil and gas. Exploration in the region has accelerated over the past few years, with foreign investment reaching record levels. The Company is positioning itself to capitalise on this and is seeking a suitable partner to facilitate the exploration effort.

35 Richardson Street West Perth WA 6005 Australia PO Box 1440 West Perth WA 6872 Australia Ph: +61 8 9211 1555 Fx: +61 8 9211 1500 ABN 25 009 121 644

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Other Business

Beyond Central Asia, the Company continues to pursue new opportunities in other jurisdictions, including Southeast Asia and South America. The goal is to acquire projects with potential near term production. Several projects have been identified and are under review.

The application previously lodged with the Indonesian government is subject to normal direct award and review processes, the results of which will be announced in due course.

Signed

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Jon W Roestenburg BSc, MLM, GBQ, CC Managing Director

35 Richardson Street West Perth WA 6005 Australia PO Box 1440 West Perth WA 6872 Australia Ph: +61 8 9211 1555 Fx: +61 8 9211 1500 ABN 25 009 121 644