TALIUS GROUP LIMITED — Capital/Financing Update 2008

Apr 17, 2008

ASX Announcement

18 April 2008

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Acquisition of Motherlode Assets in Martin County Texas

Advance Energy Limited (“AVD”), through its wholly owned US subsidiary Advance Exploration & Production, Inc. (“AEPI”) a Texas corporation, has entered into a Purchase and Sale Agreement with an effective date of 1 March 2008 to acquire an additional 67.5% working interest in its Motherlode Phase I project for US$3,700,000.

A small interest in the Motherlode 1 was the first asset AEPI acquired and the Company has accumulated detailed knowledge regarding the technical and financial issues of these assets. AEPI has been negotiating to purchase this interest for the past two years and regards this purchase as key to further attractive acquisitions in the region.

• Stable, long-life reserves with multiple enhancement opportunities

• Five producing wells currently averaging a total of 50 BOE/D

• 67.5% working interest available to AEPI with a net revenue interest of 52.0%

• Approximately 480 acres held by production

• Two stimulation (PDP enhancement) candidates

• Two PDNP plug back candidates

• Three Proved Undeveloped (PUD) locations to develop the Spraberry/Dean/Wolfcamp field

• Total proved Net Reserves in excess of 387,000 BO

• Numerous competitive advantages:

• Economies of scale AEPI currently has an interest in 16 wells in the area

• Hibernia Resources, LLC (“Hibernia”) has 13 years drilling, completion, workover and production experience in the County

• Hibernia/AEPI have 3-D seismic coverage on these assets

• Two adjacent acquisitions that can also be pursued are very similar in upside potential

An updated development schedule will be announced shortly.

The project is expected to be funded utilizing existing funding alternatives.

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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