TALIUS GROUP LIMITED — Capital/Financing Update 2008

Aug 19, 2008

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ASX ANNOUNCEMENT

Date 20 August 2008

Martin County Activity Update

Well Name	Williams 9-2
Project	Motherlode Phase II
Prospect	Key East
Well Type	Oil and Associated Gas
Location	Martin County Texas
Planned Depth 11,100	feet
Working interest	12.5 %
Operator	Endeavor Energy Resources/Hibernia Resources
Status	Drilling ahead at 6,500 ft

Advance Energy has been informed by its Operations Manager, Hibernia Resources, LLC (“Hibernia”) that the Williams 9-2 well has been spudded and is currently at a depth of 6,600 ft and will be drilled to a total depth of 11,150 ft. This well is being drilled to test and develop ten different productive horizons and it is estimated that the well will reach total depth in 15 days.

This is the ninth (9th) well on this prospect and the location has been selected based on the Company’s 3-D seismic data in a similar method to which the prolific Thomas 9-1 and Thomas 5-1.

Well Name	Williams 9-1
Project	Motherlode Phase II
Prospect	Key East
Well Type	Oil and Associated Gas
Location	Martin County Texas
Depth	10,950 feet
Working interest	12.5 %
Operator	Endeavor Energy Resources
Status	Producing

This well was put on production in early August and is currently producing 60 BOPD, 90 MCFPD and 150 BLWPD (BLWPD = barrels of frac load water per day). As the 18,800 barrels of frac water are recovered, it is estimated that the well will peak at 100 BOPD and 150 MCFPD.

ADVANCE ENERGY LIMITED Martin County Update

Well Name Thomas 9-2 Project Motherlode Phase II Prospect Key East Well Type Oil and Associated Gas Location Martin County Texas Depth 10,900 feet Working interest 12.5 % Operator Endeavor Energy Resources Status Producing

This well was put on production in early August and is currently producing 60 BOPD, 90 MCFPD and 150 BLWPD (BLWPD = barrels of frac load water per day). As the 18,800 barrels of frac water are recovered, it is estimated that the well will peak at 100 BOPD and 150 MCFPD.

FOR FURTHER INFORMATION CONTACT

Mr Anthony Short (Managing Director) or Mr David Ballantyne (Company Secretary) Telephone: 08 9486 1122 Facsimile: 08 9486 1011

ABOUT ADVANCE ENERGY LIMITED

Advance Energy Limited is focused on the acquisition and development of oil and gas producing assets in Texas USA. The company aims to acquire assets with a combination of debt and equity that have current production and cash flow and to enhance production and cash flow through the further development of these assets. Once a property has reached its full productive potential and/or has achieved economic payout to Advance Energy, the Company would look to on sell all or part of its interest. It is the aim of the Company to develop a portfolio of assets which will be developed and traded to maximize returns on funds invested.

ADVANCE ENERGY LIMITED Martin County Update ASX CODE: AVD www.advanceenergyltd.com.au

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