FIN RESOURCES LIMITED — Interim / Quarterly Report 2016

Jul 17, 2016

18 July 2016

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Company Announcements Office ASX Limited

BOARD & MANAGEMENT

Mr Greg Bandy MANAGING DIRECTOR

By E-Lodgement

Mr Jason Bontempo NON-EXECUTIVE DIRECTOR

QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDING 30 JUNE 2016

The Board of Orca Energy Limited (Orca or the Company) provides the following commentary and Appendix 5B for the period ending 30 June 2016.

Proposed Transaction

On 12 July 2016, the Company advised that a proposed acquisition and Chapter 11 transaction referred to in the Company’s announcement dated 24 June 2016 would not proceed. Following due diligence and an assessment of market conditions, both parties mutually agreed to withdraw and thereby terminate further discussions and negotiations. Orca maintains communications with the proposed target and may reassess this position in the future.

Following the Company’s recent suspension, ASX has advised Orca that it considers the Company is not in compliance with Chapter 12 of the Listing Rules and will require the Company’s securities to remain suspended from trading. The Board made a formal submission for re-instatement to trading, which was respectfully considered.

The Company remains committed to identifying a suitable asset for listing purposes and continues in its endeavours to do so, at which point, and after seeking all necessary regulatory approvals, it fully expects its shares to be re-instated to trading.

Seabiscuit – Texas

No activities were completed during the June Quarter due to the current depressed state of the Oil & Gas industry in the US.

Mr Nathan Rayner NON-EXECUTIVE DIRECTOR

Mr Aaron Bertolatti COMPANY SECRETARY

REGISTERED OFFICE Level 1

35 Richardson Street West Perth WA 6005

POSTAL ADDRESS PO Box 1440 West Perth WA 6872

CONTACT DETAILS Tel: +61 8 9212 0102

WEBSITE orcaenergy.com.au

SHARE REGISTRY Advanced Share Registry 110 Stirling Highway Nedlands WA 6009

ASX CODE OGY

For and on behalf of the Board

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Greg Bandy Managing Director

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”) 30 June 2016

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 (12 months) $A’000
	- - - - (120) - 12 - - 6	- - - - (745) - 31 - - 6
	(102)	(708)
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)	- - - - - - - - -	- - - - - - - - -
	-	-
	(102)	(708)

• 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)	(102)	(708)
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	(102) 4,452 -	(708) 4,858 200
	4,350	4,350

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
		68
1.25	Explanation necessaryfor an understandingof the transactions
	Payments of Directors Fees and Remuneration - $68k

Non-cash financing and investing activities

2.1 2.2	Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
	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

• 4.1 Exploration and evaluation

• 4.2 Development

• 4.3 Production

• 4.4 Administration Total

$A’000 - - - 100 100

Reconciliation of cash

Reco show to th	nciliation of cash at the end of the quarter (as n in the consolidated statement of cash flows) e related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 5.2 5.3 5.4	Cash on hand and at bank Deposits at call Bank overdraft Other (provide details)	4,350	4,452
		-	-
		-	-
		-	-
	Total: cash at end of quarter(item 1.22)	4,350	4,452

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.

• 5.1 Cash on hand and at bank

• 5.2 Deposits at call

• 5.3 Bank overdraft

• 5.4 Other (provide details)

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 - Corporate advisor (b) Decreases through returns of capital,buy-backs	463,382,876	463,382,876
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	10,500,000			Exercise Price $0.015		Expiry Date 31 Dec 17
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: 18 July 2016

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.

01/05/2010 Appendix 5B Page 5

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 **
Seabiscuit(Matagorda)Project	Texas	20%	N/A	20%

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

Mining tenements acquired and disposed during the June 2016 quarter: N/A

Beneficial percentage interests in farm-in or farm-out agreements acquired or disposed of during the June 2016 quarter: N/A

• See chapter 19 for defined terms.

Appendix 5B Page 6

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