FIN RESOURCES LIMITED — Capital/Financing Update 2013

Jun 12, 2013

13 June 2013

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Manager of Company Announcements ASX Limited Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000

By E‐Lodgement

ORCA SELLS UNCONVENTIONAL GAS INTERESTS AND SECURES FUNDING

BOARD & MANAGEMENT

Mr Greg Bandy EXECUTIVE DIRECTOR

Mr Jason Bontempo NON‐EXECUTIVE DIRECTOR

Mr Jeremy King NON‐EXECUTIVE DIRECTOR

Mr Denis Patten NON‐EXECUTIVE DIRECTOR

Mr Arthur Pitts ALTERNATE DIRECTOR

The Board of Orca Energy Limited ( Orca or the Company ) is pleased announce that it has agreed to sell its 20% participating interest in South Australian petroleum exploration licence (PEL) 115 to Senex Energy Limited (Senex, ASX: SXY), in exchange for a package of benefits worth approximately $7 million that includes free carry for oil exploration and development in the southern Cooper Basin.

Under the terms of the agreement with Senex, Orca will retain its 20% interest in two key assets within PEL 115, namely the Fury oil discovery and the Burruna‐1 oil exploration well. The parties will apply for a separate licence for the Fury and Burruna blocks (refer Figure 1), which will be known as the Fury Joint Venture and operate under the terms of the existing PEL 115 joint venture (Senex 80% and Operator, Orca 20%).

The consideration for the sale, effective 1 June 2013, encompasses a range of operational, financial and corporate benefits for Orca that equate to approximately $7 million. They include:

Ms Rebecca Sandford Ms Shannon Robinson JOINT COMPANY SECRETARY

REGISTERED OFFICE Ground Floor 1 Havelock Street West Perth WA 6005

POSTAL ADDRESS PO Box 1440 West Perth WA 6872

CONTACT DETAILS

• Cancellation of Senex’s 19.99% interest in Orca (115,000,000 shares placed to Senex at 3.5c per share in January 2012)

• Reimbursement of Orca’s costs for work associated with the Kingston Rule‐1 and Hornet‐1 unconventional gas exploration wells in PEL 115

• Free carry for Orca’s 20% share of costs for the completion and initial production test of Fury‐1 (refer separate announcement)

• Free carry of Orca’s 20% share of costs to drill, case and suspend a proposed horizontal well in the Fury or Burruna Block* (refer separate announcement)

• Free carry of Orca’s share of costs for the current Dundinna 3D seismic survey in PEL 110 (Senex 60% and Operator, Orca 20%)

The sale will leave Orca with a cash position in excess of $3m and free carried for all of its Cooper Basin activities for the next 12 months.

Tel: +61 8 9488 5220 Fax: +61 8 9324 2400

WEBSITE

www.orcaenergy.com.au

SHARE REGISTRY

Advanced Share Registry 150 Stirling Highway Nedlands WA 6009

ASX CODE OGY

Orca also retains a “back‐in” right to participate in any other conventional oil wells proposed by Senex in the PEL 115 block (outside of Fury and Burruna) before the current expiry date of the permit on 12 May 2014.

• If the Fury Joint Venture does not decide to drill another well in Fury or Burunna, from 31 December 2013 Orca can use the carry for its share of costs to drill, case and suspend a well of similar cost in PEL 110.

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Orca’s Executive Director Greg Bandy said, “ This agreement brings us closer to our goal of becoming a Cooper Basin oil producer. For shareholders, it represents an increase in the value of their investment and delivers a targeted and relatively low risk oil exploration and development campaign in proven oil and gas acreage. It also shores up Orca’s balance sheet with an injection of capital and leaves the company fully funded for its current work programs.”

The agreement with Senex is subject to a number of regulatory conditions and approvals. An Extraordinary General Meeting will be convened to seek the approval of Orca’s shareholders.

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Figure 1.

For and on behalf of the Board

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Greg Bandy Executive Director

Ground Floor, 1 Havelock Street, West Perth WA 6005 | Tel: +61 8 9488 5220 | Fax: +61 8 9324 2400 | www.orcaenergy.com.au ABN 25 009 121 644