TALIUS GROUP LIMITED — Capital/Financing Update 2008

Jun 23, 2008

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ASX Announcement DATE: 24 June 2008

Palo Pinto Workovers

Advance Energy Ltd has been notified by its operator that they have commenced a workover programme on the following wells:

Alexander 1 Dabney 1 Frances 1 Coleman 2 Deno Gragg 3

Pump changes will be made to the following wells:

Coleman 1 Hendrix 2

The estimated budget is USD 400,000 which will be funded out of cash flow.

It is anticipated that this programme will be completed during the next quarter.

Results for the workover programme 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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