FIN RESOURCES LIMITED — Capital/Financing Update 2010

Jan 7, 2010

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

Incorporated in Western Australia

8 January 2010 Announcements ASX Limited Level 4, 20 Bridge Street SYDNEY NSW 2000

AIRACOBRA-1 CASED & SUSPENDED FOR FUTURE TESTING, PEL 115, SOUTH AUSTRALIAN COOPER BASIN

Victoria Petroleum N.L. (Vicpet) as operator for the Airacobra-1 exploration well advises that Airacobra-1 has been drilled to a total depth of 2,163 metres and wire line logs and side wall cores run to evaluate the oil and gas shows observed in the Permian Epsilon and Patchawarra sands. The current operation is running 7 inch production casing in order to carry out a cased hole testing program in late January 2010 over the indicated Permian Epsilon and Patchawara oil zones.

Wire line logs and side wall cores confirm the presence of light crude oil shows with diesel odour in the Permian Epsilon sand from 2,016 - 2,018 metres and the Permian Upper Patchawarra sand from 2,117.5 - 2,119 metres.

The cased hole testing program at Airacobra-1 will follow on immediately after the cased hole testing of the Murta and Permian oil zones drilled in the Fury-1 oil discovery well.

The participants in the drilling of Airacobra-1 and Fury-1 and their respective interests 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%

Vicpet managing director John Kopcheff commenting on the results of the two well farmin drilling program said:

“Vicpet is pleased at the exploration success encountered by both of the farmin wells, Fury-1 and Airacobra-1 and looks forward to the cased holed testing program to be carried out on the two wells in late January 2010. The farmin by Monitor and Lion into PEL 115 provided Vicpet with a no cost 33% interest through the drilling and casing of Airacobra-1 and Fury-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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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 with Permian oil shows 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.