TALIUS GROUP LIMITED — M&A Activity 2009

Apr 7, 2009

7[th] April, 2009 ASX Release

BLAZE ASSET Pty Ltd ACN 134 038 412 tel +61 8 9486 1122 fax +61 8 9486 1011

Suite 2, 16 Ord Street West Perth Western Australia 6005

Off Market Takeover of Target Energy Ltd

Summary of the Offer

• Blaze Asset Pty Ltd (Blaze) is announcing its intention to make an offer for all the shares in Target Energy Ltd (Target).

• Blaze is a company jointly owned by Advance Energy Limited (Advance) (ASX:AVD) and Odin Energy Ltd (Odin) (ASX:ODN).

• Target shareholders who accept the offer will receive one cent ($0.01) in cash per Target share and three Advance shares for every four Target shares held.

• The Offer does not extend to Target options but does extend to any Target shares issued upon exercise of a Target option before or during the Offer period.

• The cash component of the consideration for Target shares is being provided by Odin and the Advance shares are being issued by Advance.

• The Offer is only being made to Target shareholders who are resident in Australia.

• The Offer is only conditional upon any of the prescribed occurrences in section 652C of the Corporations Act not occurring before or during the Offer period.

• The Offer is not subject to a minimum bid condition.

• Advance will apply to ASX for official quotation of the Advance shares it issues under the Offer.

How to accept the Offer

Further information concerning the Offer will be contained in the Blaze's bidder’s statement which Blaze will shortly lodge with ASIC and ASX and serve on Target.

About Blaze Asset Pty Ltd

Blaze has been established as a joint takeover vehicle for Odin and Advance with Odin providing the cash component of the offer and Advance providing the scrip.

About Advance Energy Limited

Advance is focused on the acquisition and development of oil and gas producing assets in Texas, USA. The company has acquired producing assets through a combination of debt and equity and has also enhanced production and cash flow through the further development of these assets. Once a property reaches its full productive potential and/or has achieved economic payout to Advance, it looks to on sell all or part of its interest. It is Advance's aim to continue growing its portfolio of assets which will be developed and traded to maximise returns on funds invested.

About Odin Energy Limited

Odin is focused on oil and gas exploration and developments in the Cooper Basin of South Australia and the Gulf Coast of United States of America. On 10 March 2009, Odin and Kilgore Oil and Gas Limited (Kilgore) entered into a memorandum of understanding giving Odin the right to farm into Kilgore's offshore oil and gas interests. All three wells have been commercial discoveries and are to be completed with production expected to commence in early Quarter 3 2009. Reserve estimates are currently being prepared.

Further Information

If you have any queries regarding the Offer, please contact Alex Bajada on (08) 9486 1122.

Alex Bajada Director, Blaze Asset Pty Ltd