TALIUS GROUP LIMITED — Capital/Financing Update 2010

Apr 29, 2010

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ASX ANNOUNCEMENT

Date 30 April 2010

Rights Issue

The Board of Advance Energy Limited has resolved to proceed with a non renounceable rights issue of shares on a two for five basis, at an issue price of two cents ($0.02) per share (“Rights Issue”). This share issue will apply to shareholders registered as at the record date, which will be announced as soon as is practical. The issue will not be underwritten and if fully subscribed for will raise in excess of $1.25 million before costs.

The table below shows the maximum number of shares that will be issued on completion of the Rights Issue.

Current Shares	156,367,722
Maximum to be Issued Under Rights Issue	62,547,088
Maximum Shares Issued on Completion of Rights Issue	218,914,810

Funds raised will be used to accelerate development of the Company’s producing properties, including the Martin West project, and for working capital purposes.

A timetable and further documentation will be announced in due course.

The Company also takes the opportunity to notify the market that it has now ceased marketing the listed convertible note issue. Further the Company now no longer intends to apply to increase the interest rate of the existing listed notes from 9.5% per annum to 11.5% per annum, as referred to in its announcement to the market in March. It has taken this decision based on the time, cost and complexity of implementing this rate change, and also because it sees little commercial benefit in doing this in a rising interest rate environment.

FOR FURTHER INFORMATION CONTACT

Mr Alex Bajada (Chairman) or Mr David Ballantyne (Company Secretary) Telephone: 08 9486 1122 Facsimile: 08 9486 1011

ABOUT ADVANCE ENERGY LIMITED

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 looks 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 maximise returns on funds invested.

ADVANCE ENERGY LIMITED Rights Issue ASX CODE: AVD www.advanceenergyltd.com.au

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