FIN RESOURCES LIMITED — Capital/Financing Update 2009

May 20, 2009

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21 May 2009

Dear Optionholder,

RENOUNCEABLE ENTITLEMENT ISSUE

We are writing to you in relation to your option holding in Monitor Energy Limited ( Company ).

The Company has announced to ASX Limited ( ASX ) the details of a renounceable entitlement issue on the basis of one (1) Share for every one (1) Share held by Shareholders together with one (1) free Option for every one (1) new Share issued registered at 5.00pm (WST) on 28 May 2009 at an issue price of $0.001 cents per Share to raise approximately $728,848 ( Entitlement Issue ).

Pursuant to the terms of the options that were issued to you, the Company is required to notify you of your right to participate in any entitlement issue of securities if you exercise your options prior to the record date for the entitlement issue.

Accordingly, take notice that in order to participate in the Entitlement Issue, you will need to exercise your options prior to the record date for the Entitlement Issue, being 28 May 2009 .

The Company has lodged a prospectus in relation to the Entitlement Issue at the Australian Securities & Investments Commission and this document will be dispatched to shareholders of the Company on 1 June 2009. The prospectus outlines the Entitlement Issue in detail.

Should you have any queries in relation to this matter, please do not hesitate to contact the Company on (+61 8) 9211 1555.

Yours faithfully

Jon Roestenburg

Managing Director

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