FIN RESOURCES LIMITED — Capital/Financing Update 2009

Nov 8, 2009

==> picture [146 x 84] intentionally omitted <==

Monitor Energy drilling operations start on Fury – 1.

Highlights:

• The company has commenced drilling operations on its Australian, Cooper Basin License PEL 115 together with Operator Victoria Petroleum on the Fury prospect.

• The Century – 3 drilling rig has been released today by Victoria Petroleum and is mobilising to the Fury - 1 location in preparation for the well spud.

• Spud date is anticipated to be around November 14[th]

• Drilling is expected to take approximately two weeks to a total depth of 2000m and will intersect the primary Cretaceous Murta Formation objective within a week from spud and the secondary objective in the Permian Patchawarra Formation within two weeks.

• The well plan is to drill through to total depth, then log the entire open hole section before casing and depending on results, testing.

Monitor Energy announces that it has commenced its work program for drilling on Petroleum Exploration Licence (PEL115, figure 1) in the prolific onshore Cooper Basin with operator Victoria Petroleum. The Century Energy Services Ltd Rig - 3 has been contracted to drill the Fury prospect and has commenced mobilisation to the Fury – 1 drill site today.

Figure 1. Location of the Cooper/Eromanga Basin and PEL 115 in Onshore Australia

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

==> picture [146 x 84] intentionally omitted <==

==> picture [314 x 216] intentionally omitted <==

Figure 2. Close up view of the existing oil and gas fields in the PEL 115 vicinity

==> picture [410 x 259] intentionally omitted <==

----- Start of picture text ----- Fury - 1Mirage Oil Field Burruna-1----- End of picture text -----

Figure 3. Modern 3D seismic over the areas at Fury - 1 and nearby Mirage oil field.

Fury – 1 is located close to numerous oil and gas fields (figure 2) and is a closed four way dip structure located 630m up-dip of the Lightning – 1 well drilled on the structural flank in 2004, (figure 3). Lightning – 1 encountered oil in the Murta Formation in uncommercial quantities and was suspended as a potential oil producer. Fury - 1, higher on structure, is expected to have better developed reservoir sands in the Murta, McKinley and possibly the Namur

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

==> picture [146 x 84] intentionally omitted <==

Sandstones. Estimated P50 volumes are 1.5MBO in the Jurassic and a possible 22.79BCF in the Permian. Gas has been discovered in the Permian at Burruna-1, drilled 4km SW of Fury, by Delhi Petroleum in 1983. Gas volumes at the time were deemed to be sub-economic, however their existence confirms hydrocarbon migration into the Permian Patchawarra Formation.

==> picture [301 x 329] intentionally omitted <==

----- Start of picture text ----- Murta ObjectivePatchawarra Objective----- End of picture text -----

Figure 3. Seismic expression of the Fury -1 Well location with Cretaceous/Jurassic, potential 1.5mmbls and Permian, potential 0.46mmbls and 22.79bcf or oil

Operationally, the Cooper Basin represents a known cost exposure to Monitor, in particular since Victoria Petroleum is an experienced operator with an enviable track record of completing wells in time and on budget. With ready access to infrastructure in the form of road and gas pipelines, any hydrocarbon discoveries can be readily monetised in the short term.

Other Business:

The Company also continues its due diligence work on PPL213 in relation to farming into the Mirage Oil Field. This work is ongoing and the outcomes will be announced in the near future.

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

==> picture [146 x 84] intentionally omitted <==

Signed:

==> picture [166 x 80] intentionally omitted <==

Jon W Roestenburg BSc, MLM, GBQ, CC MAAPG

Managing Director

Monitor Energy Ltd

Information in this report was completed by the Managing Director of Monitor Energy, J W Roestenburg BSc MLM, GBQ, CC , MAAPG), with 35 years experience in petroleum geoscience and operations.

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