FIN RESOURCES LIMITED — Capital/Financing Update 2009

Dec 22, 2009

VICTORIA PETROLEUM N.L. A.B.N 50 008 942 827

Incorporated in Western Australia

23 December 2009

Announcements ASX Limited Level 4, 20 Bridge Street SYDNEY NSW 2000

DRILLING REPORT FOR AIRACOBRA-1, PEL 115, SOUTH AUSTRALIAN COOPER BASIN

Victoria Petroleum N.L. (Vicpet) as operator for the Airacobra-1 exploration well advises that drilling operations have been suspended at Airacobra-1 ahead of forecasts of flooding in the Cooper Basin as a result of rain from the effects of ex Tropical Cyclone Laurence.

The well is currently suspended at a depth of 1,983 metres in the Permian Murteree Shale sealing unit above the target Patchawarra sands, oil and gas productive in the adjacent major Permian oil and gas fields.

Drilling is anticipated to recommence when road access is restored to the Airacobra-1 well site in approximately 1- 2 weeks time, if not sooner.

Airacobra-1 is being drilled as an exploration well to test the oil bearing potential of the Jurassic and Permian formations in the 3D seismically defined Airacobra Prospect.

The participants in the drilling of Airacobra-1 and their respective interests during the drilling of the Airacobra -1 farmin well and in PEL 115 following the completion of drilling will be as follows;

Victoria Petroleum N.L. (Operator) 33% Monitor Energy Limited 42% Lion Petroleum Pty Ltd. 25%

The farmin by Monitor and Lion into PEL 115 provides Vicpet with a no cost 33% interest through the drilling of Airacobra-1.

The farmin is subject to the approval of the regulatory authorities.

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JOHN KOPCHEFF MANAGING DIRECTOR VICTORIA PETROLEUM N.L.

Information in this report was completed by the Managing Director of Victoria Petroleum N.L, J T Kopcheff BSc (Hons Eco.Geol), FAIMM, MAAPG, MSPE, MPESA, with 38 years experience in petroleum geology and geophysics.

For information on Victoria Petroleum N. L. drilling activities visit our website at www.vicpet.com.au

36[TH ] FLOOR, EXCHANGE PLAZA, 2 THE ESPLANADE, PERTH, WESTERN AUSTRALIA 6000 TELEPHONE: (08) 9220 9800, FACSIMILE: (08) 9220 9801, EMAIL: admin@vicpet.com.au WEBSITE: www.vicpet.com.au CORRESPONDENCE TO PO BOX Z5441, ST GEORGES TERRACE, PERTH, WESTERN AUSTRALIA 6831

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Thursday - Friday 24-25 December 2009 area rain forecasts (red is 75mm rain)

Location of PEL 115 in the Cooper Basin - South Australia

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Narcoonowie
Oil Field
Fury Oil Field
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Airacobra Prospect, 6 kilometes south west of the Toolachee Permian Gas & Condensate Field, Southern PEL 115, Cooper Basin

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Airacobra -1
Prospect
Narcoonowie
Oil Field
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Airacobra Prospect defined by 3D seismic, approx 2km north of Santos Narcoonowie Oil Field and 6 kilometres south west of the Permian Toolachee Gas and Condensate Field.