FIN RESOURCES LIMITED — Capital/Financing Update 2009

Dec 6, 2009

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ASX Announcement Perth December 7, 2009

Fury ‐ 1 Confirmed as a Future Oil Producer

Highlights:

• Oil shows recorded during drilling confirmed by side wall coring and wireline logging

• A gross column of 17m (1309–1326m) established in the Murta Formation

• Additional good oil show in the lower Epsilon Formation will need further evaluation

• Production testing and completions using a dedicated workover rig will commence as soon as possible at Fury­1

• The Century–3 rig will now move to the Airacobra site where drilling is expected to start within a week

Monitor Energy Limited (“Monitor” or “the Company”) is pleased to announce that the significant oil shows recorded during drilling of the Fury‐1 well (PEL 115, Cooper Basin) have been confirmed by sidewall coring and wireline logging. A gross oil column of 17m (1309–1326m) has been determined in the Murta Formation, the primary objective. A further oil sand has been discovered in the Permian Epsilon Formation, the secondary objective, between 1814 and 1819m.

Fury–1 will be production tested and completed using a workover rig as soon as possible.

The Century–3 rig will now mobilise to the Airacobra–1 prospect, where drilling is expected to commence within a week.

Speaking from the well site, Monitor’s Managing Director, Jon Roestenburg, said: “Based on the joint venturers’ experience at the nearby Mirage oil field, Fury–1 will be completed through casing. The Company is evaluating the most appropriate methods of early production from Fury‐1.

The Epsilon Formation oil sand will also be accessed through casing but will require further geological evaluation to determine its full extent and distribution away from the well. The Epsilon discovery at Fury‐1 is significant as the Permian intervals along the southern margin of the Cooper Basin, thought to be mature or less prospective for exploration and exploitation, may yet prove to be a bonus for explorers and in particular for the PEL115 joint venture.”

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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Monitor is earning 42% of PEL115 through drilling two wells with Victoria Petroleum NL 33% (Operator) and Lion Petroleum Pty Ltd (25%).

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Jon W Roestenburg BSc. MLM. GBQ, CC MAAPG Managing Director, Monitor Energy Ltd

For more information please contact:

Jon Roestenburg BSc, GBQ, MLM, CC Managing Director Monitor Energy Limited Tel: +61 8 9211 1555 Email: jon@monitorenergy.com.au

David Tasker Professional Public Relations Tel: +61 8 9388 0944 / +61 433 112 936 Email: david.tasker@ppr.com.au

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