TALIUS GROUP LIMITED — Capital/Financing Update 2008

Jul 24, 2008

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ASX Announcement

25 July 2008

Palo Pinto-Lone Camp Project

Alexander No. 1 Production Enhancement Workover Project Palo Pinto-Lone Camp Well Type Gas Location Central Palo Pinto County, Texas Depth 3,900 feet Working interest 90.0 % Operator Hibernia Resources Status Producing gas sales facilities

The Upper Conglomerate was hydraulically fractured in this well in late June and produced at a sustained rate of 80 MCFPD. Earlier this week the Upper zone was co-mingled with the prior producing Lower Conglomerate and the well is now producing 110 MCFPD. Prior to this workover the Lower Conglomerate was producing at 30 MCFPD.

The additional 80 MCFPD is anticipated to add annualised revenues to the company in excess of US$200,000.

This procedure is the first of seven workovers that have been designed by our manager, Hibernia Resources Inc, to increase production from our existing wells. Further results will be announced as they become available.

For further information contact: Mr Anthony Short Managing Director Telephone: 08 9486 1122 Facsimile: 08 9486 1011

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 ASX Code: AVD Website: www.advanceenergyltd.com.au

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