FIN RESOURCES LIMITED — Capital/Financing Update 2008

Apr 13, 2008

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14 April 2008 ASX Announcement

Monitor Energy Ltd signs Joint Venture Operating Agreement with Sentry Petroleum Ltd.

Monitor Energy Ltd (“Monitor” or “the Company”) is pleased to announce that it has signed a joint venture operating agreement (“JVOA”) with USA incorporated Sentry Petroleum Ltd (“Sentry” or “farminee”) for Monitor’s licenses in the Kyrgyz Republic.

The farmin by Sentry to Monitor’s Kyrgyz licenses is bound by similar terms and conditions as those earlier announced by Monitor with the Medina Group which has formally withdrawn from the heads of agreement signed previously. This agreement is conditional in allowing up to 90 days from the date of signing for Sentry to complete its fund raising activities.

Highlights of the JVOA:

• a two phased funding approach has been agreed to for seismic and well(s) depending on technical conditions and results of 2007 and 2008 field seasons work programs.

• the first phase is for a minimum work commitment of 1000km for seismic or equivalent exploration technologies capable of unambiguous delineation of drillable prospects, excluding mobilization and other contractual costs. The minimum survey cost is estimated to be US$5m based on current seismic contractual, operational costs and availability. Sentry will earn an 80% stake in the Licenses after Phase one (1), but has the right to withdraw without earning should it wish to do so.

• the second phase is contingent on successful outcomes of Phase 1, however, if Phase two (2) is enacted at any time, Sentry will fund the drilling of at least one commitment well on a suitably ranked and risked prospect exclusive of mobilization and contractual cost. The minimum well cost is estimated to be US$8m based on current industry parameters. Sentry will earn a further 5% equity in the licenses after completion of Phase two (2).

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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• Farminee become Operator and will subcontract Monitor’s technical and field personnel. As Operator, Sentry is responsible for maintaining the licenses in good standing and executing all exploration work programs in an effective and efficient manner.

• Sentry will free carry Monitor for all operational and office costs as these apply to servicing the Kyrgyz operation from 2008 through to the completion of the agreed to work commitments and earning period(s).

Sentry will assume full operational responsibility after the conditional 90 day period (or earlier if conditionality is waived) for the work commitments, earning phases and operations. In the event that the fund raising activities are unsuccessful during the 90 day period, Sentry has the right to withdraw and terminate this agreement without penalty or further obligation.

The Kyrgyz Republic Oil & Gas Perspective

The Kyrgyz Republic is a Central Asian country whose southern border joins the prolific Tarim Basin, China’s dominant onshore oil and gas province with over 200 billion barrels of oil and 700 Trillion cubic feet of proven reserves. This world class accumulation of oil and gas fields lies just 150km southeast of the Company’s license areas. The equally prolific Junggar Basin is 100km northeast of the license areas and the well know giant oil and gas fields of Kazakhstan are immediately north. The southern license area is adjacent to acreage currently being explored by one of Australia’s dominant oil majors. Geologically the areas are comparable, having three prospective petroleum generative horizons, numerous large trap types and significant untapped potential. The Kyrgyz Republic has a fiscal regime advantageous to resource development and infrastructure is both existing and expanding, as the region becomes an important secure energy hub for China and the Far East.

About Monitor Energy Ltd

Monitor Energy is a Perth based exploration company with energy assets in both petroleum and uranium. The company has a strong internationally experienced management and leadership team, as well as a highly competent technical group capable of exploration operations in remote regions. The Company has its corporate headquarters in Perth, Australia and a well-resourced operations office in the Kyrgyz Republic. The joint venture with Sentry Petroleum Ltd allows the Company to continue building its energy portfolio with projects that meet its vision and business development strategy. Monitor is committed to deploying smart exploration methodologies and strategies that allow maximum shareholder value from its assets and interests.

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 Sentry Petroleum

Sentry Petroleum Ltd is a debt free Nasdaq traded international oil and gas exploration company. The company's mission is to secure large land positions with drill ready prospects in the regions of the world with the most promise for large scale discovery. For more about Sentry please visit the website at www.sentrypetroleum.com

Further information

Yours faithfully,

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Jon Roestenburg BSc, GBQ, MLM, CC Managing Director Monitor Energy Limited

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