TALIUS GROUP LIMITED — Capital/Financing Update 2008

Mar 9, 2008

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ASX Announcement 10 March 2008

Martin County New Well Spud

Well Name Williams 9-1 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 4,400 ft

Advance Energy Limited has been informed by its Operations Manager, Hibernia Resources, LLC (“Hibernia”) that the Williams 9-1 well has been spudded, is currently at a depth of 4,400 ft and will be drilled to a total depth of 11,100 ft. This well is being drilled to test and develop ten different productive horizons and it is estimated the well will reach total depth in 20 days.

The Williams 9-1 well is a direct offset to the Thomas 9-1 and the Thomas 5-1 wells that have both far surpassed expectations in their first year of production. This is the sixth well on this prospect and the location has been selected based on the Company’s 3-D seismic data using a similar method to that used to select the Thomas 5-1 and Thomas 9-1. Hibernia reports that both the Thomas 5-1 and 9-1 produced at initial rates in excess of 250 BOEPD and are on pace to be among the highest producers in the County.

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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