TALIUS GROUP LIMITED — Capital/Financing Update 2008

May 6, 2008

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ASX Announcement

7 May 2008

Non – Renounceable Rights Issue

Advance Energy Limited is pleased to announce that it has resolved to proceed with a non-renounceable rights issue of shares on the basis of one new share for each two existing shares held at an issue price of 10 cents per share. The Directors have committed to taking up their full entitlements.

Proceeds of the issue will be utilised for debt repayment and working capital. The rights issue is expected to raise up to $3,500,000.

Further details of the timing of the issue will be provided in the prospectus which will be lodged with ASIC shortly.

For further information contact: Mr Alex Bajada Chairman 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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