FIN RESOURCES LIMITED — Interim / Quarterly Report 2015

Apr 28, 2015

29 April 2015

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

BOARD & MANAGEMENT

Mr Greg Bandy MANAGING DIRECTOR

Mr Jason Bontempo NON-EXECUTIVE DIRECTOR

Via E-Lodgement

Mr Nathan Rayner NON-EXECUTIVE DIRECTOR

QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDING 31 MARCH 2015

The Board of Orca Energy Limited ( Orca or the Company ) is pleased to provide the following commentary and Appendix 5B for the period ending 31 March 2015.

Mr Aaron Bertolatti COMPANY SECRETARY

REGISTERED OFFICE Level 1 35 Richardson Street West Perth WA 6005

Orca Sells Cooper Basin Assets

During the quarter the Company advised that it had entered into a binding Sales Agreement with Senex Energy Limited (ASX: SXY) to sell its Cooper Basin Assets for approximately $2,000,000 in cash, with an effective date of 1 January 2015.

Orca (and its wholly owned subsidiary, Komodo Energy Pty Ltd (Komodo)) will sell to Senex the following permit and associated joint venture interests:

1. Komodo’s 20% interest in Burruna oil field, being petroleum production licence 251 (PPL 251)

POSTAL ADDRESS PO Box 1440 West Perth WA 6872

CONTACT DETAILS Tel: +61 8 9212 0102

WEBSITE

www.orcaenergy.com.au

1. Komodo’s 20% interest in Fury oil field and petroleum retention licence 117 (PRL 117)

2. Orca’s 20% interest in petroleum exploration licence 110 (PEL 110).

The Transaction is subject to shareholder approval, which will be sought at an extraordinary general meeting on 30 April 2015. Settlement is expected to occur on or before 31 May 2015.

SHARE REGISTRY Advanced Share Registry 150 Stirling Highway Nedlands WA 6009

ASX CODE OGY

Seabiscuit – Texas

During the quarter the project generators, NEU Oil & Gas LLC (NEU) and Highland Minerals Inc. (Highland), advised Orca that they were still yet to find another JV partner willing to participate in the drilling of the Seabiscuit prospect, either as a financier or operator. Orca continues to monitor the progress being made by NEU and Highland, while acknowledging the difficult current commodity price environment.

Corporate

Orca continues to review new opportunities as it has done throughout the year in accordance with its outlined strategic philosophy. With a strong cash position, the Company believes it is extremely well placed to take advantage of the depressed global oil & gas market.

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For and on behalf of the Board

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Greg Bandy Managing Director

Level 1, 35 Richardson Street, West Perth WA 6005 | Tel: +61 8 9212 0102 | www.orcaenergy.com.au | ABN 25 009 121 644 2 | P a g e

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013

Name of entity

ORCA ENERGY LIMITED

ABN 25 009 121 644

Quarter ended (“current quarter”) 31 March 2015

Consolidated statement of cash flows

Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows	Current quarter $A’000	Year to date (9 months) $A’000
	319 - - (227) (322) - 1 - - -	2,591 (926) (760) (659) (545) - 5 - - -
	(229)	(294)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - - - - - - - -	- - - - - - - - -
	-	-
	(229)	(294)

• See chapter 19 for defined terms.

01/05/2010 Appendix 5B Page 1

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(229)	(294)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows	- - - - - -	- - - - - -
	-	-
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(229) 3,147 177	(294) 2,769 620
	3,095	3,095

Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		70
1.25	Explanation necessaryfor an understandingof the transactions
	Payments of Directors Fees and Remuneration - $70k

Non-cash financing and investing activities

2.1	Details of financing and investing transactions which have had a material effect on
	consolidated assets and liabilities but did not involve cash flows

2.2	Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest

• See chapter 19 for defined terms.

Appendix 5B Page 2

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1	Loan facilities
3.2	Credit standby arrangements

Amount available	Amount used
$A’000	$A’000

Estimated cash outflows for next quarter

• $A’000

• 4.1 Exploration and evaluation 25 4.2 Development - 4.3 Production - 4.4 Administration 150 Total 175

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	3,095	3,147
	-	-
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	3,095	3,147

Changes in interests in mining tenements and petroleum tenements

6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements and petroleum tenements acquired or increased	Tenement reference and location	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	N/A	See additional information Appendix 1
	N/A	See additional information Appendix 1

• See chapter 19 for defined terms.

01/05/2010 Appendix 5B Page 3

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted		Issue price per security (see note3) (cents)		Amount paid up per security (see note3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital,buy-backs	451,382,876	451,382,876
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options - Unlisted Options 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	28,000,000			Exercise Price $0.03		Expiry Date 31 Dec 15
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

Appendix 5B Page 4

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

• 2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.

Sign here: (Company secretary)

Date: 29 April 2015

Print name: Aaron Bertolatti

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Appendix 1 – Interests in mining tenements held

Holder: Oil & Gas Beneficial percentage interests held in farm-in or farm- out agreement

Tenement Reference	Location	Working Interest at Beginning of **Quarter **	Acquired/ Disposed	Working Interest at End of **Quarter **
PPL251 (PreviouslyFuryJV of PEL 115)	Cooper Basin, South Australia	20%	N/A	20%
PRL117 (PreviouslyFury JVof PEL 115)	Cooper Basin, South Australia	20%	N/A	20%
PEL 110	Cooper Basin, South Australia	20%	N/A	20%
Seabiscuit(Matagorda)Project	Texas	20%	N/A	20%

• See chapter 19 for defined terms.

Appendix 5B Page 6

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