FIN RESOURCES LIMITED — Capital/Financing Update 2009

Sep 23, 2009

==> picture [146 x 83] intentionally omitted <==

24 September2009

Dear Shareholder,

RENOUNCEABLE ENTITLEMENT ISSUE

Monitor Energy Limited (Company) has announced to ASX Limited (ASX) a renounceable entitlement issue on the basis of one (1) Share for every one (1) Share held by Shareholders registered at 5.00pm (WST) on 1 October 2009 at an issue price of 0.2 cents per Share to raise approximately $3,115,391 (Entitlement Issue).

The Entitlement Issue will result in the issue of approximately 1,557,695,704 new shares in the Company.

The Entitlement Issue is fully underwritten by Patersons Securities Limited.

Entitlements to Shares pursuant to the Offer are renounceable and accordingly, rights can be traded on ASX in accordance with the timetable set out below (Rights Trading). Further details in respect of Rights Trading are set out in the Prospectus relating to the Entitlement Issue which has been lodged with the Australian Securities and Investments Commission and ASX and is available on the Company website at www.monitorenergy.com.au for inspection.

The indicative timetable and important dates of the Entitlement Issue are set out below:

Lodgement of Prospectus and Appendix 3B with ASIC	22 September 2009
Notice sent to Shareholders	24 September 2009
Ex Date – Rights Trading commences	25 September 2009
Record Date for determining Shareholder entitlements	1 October 2009
Prospectus despatched to Shareholders	6 October 2009
Rights Trading ceases	13 October 2009
Closing Date of Offer	20 October 2009
Notify ASX of under-subscriptions	22 October 2009
Despatch date/Shares entered into shareholders security	28 October 2009
holdings

The purpose of the Entitlement Issue is to raise approximately $3,115,391 and the funds raised will be allocated to the earn-in under the Heads of Agreement signed with Victoria Petroleum NL and announced to the ASX on 11[th] September 2009, plus general working capital of the Company.

The capital structure of the Company on completion of the Entitlement Issue will be as follows:

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 83] intentionally omitted <==

Shares

Shares
	Number
Shares on issue at date of Prospectus	1,557,695,704
Shares offered pursuant to the Offer	1,557,695,704
Total Shares on issue after completion of the Offer1	3,115,391,408

Options

Options
	Number
Quoted exercisable at $0.025 on or before 31 August 2011	1,471,875,130
Unquoted exercisable at $0.02 on or before 31 December 2009	500,000
Unquoted exercisable at $0.035 on or before 31 December 2009	3,500,000
Unquoted exercisable at $0.05 on or before 31 December 2010	5,000,000
Unquoted exercisable at $0.075 on or before 31 December 2011	5,000,000
Unquoted exercisable at $0.034 on or before 30 June 2010	1,250,000
Unquoted exercisable at $0.025 on or before 11 March 2011	2,500,000
Unquoted exercisable at $0.05 on or before 31 December 2009	500,000
Total Options on issue after completion of the Offer	1,490,125,130

In calculating entitlements under the Entitlement Issue fractions will be rounded up to the nearest whole number.

The offer under the Prospectus is made to Shareholders with registered addresses in Australia and New Zealand. Overseas shareholders should contact the Company Secretary with any queries.

Full detail of the issue will be contained in the Prospectus that will be mailed to all shareholders who are registered on the record date. Shareholders eligible to participate should read the Prospectus carefully.

For further information, please contact our office on (08) 9211 1555 during normal business hours.

Yours Sincerely

==> picture [97 x 32] intentionally omitted <==

Stephen Brockhurst Company Secretary

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