FIN RESOURCES LIMITED — Capital/Financing Update 2010

Jan 4, 2010

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ASX Announcement 5 January, 2010

Airacobra‐1 well in Cooper Basin, Australia, intersects two additional oil and gas shows

Highlights:

• At 06.00 hrs (ACT) on 5 January drilling at Airacobra‐1 has reached a depth of 2130m, with drilling continuing,

• Two significant oil and gas shows have been intersected in addition to shows intersected in the Upper Epsilon Formation[1] , and

• The full significance of these gas and oil shows will be further evaluated by wire line logs to be run after reaching total depth.

Australian oil and gas company Monitor Energy Limited (ASX: MHL) (“Monitor” or “the Company”) is pleased to advise that the Airacobra‐1 well, being drilled within PEL 115 in the Australian Cooper Basin, has reached 2130m at 06:00 hrs (ACT) today. The well has intersected an interbedded sandstone and siltstone formation between 2103 to 2119m containing two zones (9m gross interval) with good to fair oil and gas shows in Permian Upper Patchawarra sands.

As announced on 4 January 2010, oil and gas shows were also intersected between 2010m and 2016m in the Upper Epsilon Formation. Monitor Managing Director, Mr Jon Roestenburg, reporting from the rig site, said: “Sandstone reservoirs with shows like this are very encouraging given that the depth, slow drill rate and relatively high mud weights typically obscure hydrocarbon shows from cuttings. The will be evaluated through sampling by side wall cores and wireline logs, which will happen as soon as the drilling phase is completed.”

The participants in the drilling of Airacobra‐1 and their respective interests during the drilling of the Airacobra ‐1 farmin well and in PEL 115 following the completion of drilling will be as follows:

Monitor Energy Limited 42%

Victoria Petroleum N.L. (Operator) 33% Lion Petroleum Pty Ltd. 25%

1 Refer ASX announcement dated 4 January 2010

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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Jon W Roestenburg Managing Director, Monitor Energy Ltd

This report was prepared by Jon W Roestenburg BSc, MLM, GBQ, CC, MAAPG with over 30 years operational experience as a petroleum geoscientist both nationally and internationally .

For further information:

Monitor Energy Limited

Media

Jon W Roestenburg David Tasker Managing Director Professional Public Relations Monitor Energy Limited T: +61 89388 0944/ +61 433 112 936 T: +61 8 9211 1555 E: david.tasker@ppr.com.au E: info@monitorenergy.com.au W: www.monitorenergy.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