HIGH PEAK ROYALTIES LIMITED — Board/Management Information 2012

Mar 4, 2012

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5 March 2012

Australian Securities Exchange

REQUISITION OF GENERAL MEETING

Torrens Energy Limited ( TEY or Company ) announces that it has received a request from a shareholder holding more than 5% of the votes that may be cast at a general meeting to call a general meeting under section 249D of the Corporations Act 2001 (Cth).

The request has been received from Deck Chair Holdings Pty Limited ( Deck Chair ) for the purpose of putting to shareholders resolutions for the election of Messrs Gabriel Chiappini and Winton Willesee as directors of the Company, and the removal of Messrs Dennis Gee, Howard McLaughlin, John Canaris and David Eiszele as directors of the Company.

TEY understands that Deck Chair is a company associated with Darien Jagger, a director of, and head of corporate finance in Perth, at Cygnet Capital Pty Ltd ( Cygnet ). Cygnet was the lead manager of TEY's initial public offering in 2007, and most recently acted as underwriter to TEY's entitlement issue completed in September 2011, and has been paid considerable fees by TEY in respect of these mandates. In view of the relationship between the Company and Cygnet, the board of directors of TEY is disappointed with the circumstances that have arisen, and is investigating its legal options.

TEY will comply with its obligations pursuant to section 249D of the Corporations Act.

Further information will be provided to the market in due course.

Yours sincerely

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Robert Hodby Company Secretary Torrens Energy Limited

TORRENS ENERGY LIMITED ABN 79 118 065 704 RENEWABLE SUSTAINABLE GEOTHERMAL ENERGY A: 338 Hay Street, Subiaco WA 6008 PO Box 1505 Subiaco WA 6904 T: +61 8 6380 1003 F: +61 8 6380 1026 W: www.torrensenergy.com