HIGH PEAK ROYALTIES LIMITED — Capital/Financing Update 2011

Sep 12, 2011

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13 September 2011

Centralised Company Announcements Platform Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

NOTIFICATION OF UNDERSUBSCRIPTIONS NON-RENOUNCEABLE RIGHTS ISSUE

Torrens Energy Limited is pleased to advise that the Company’s 1 for 3 Entitlement Issue dated 12[th] August 2011 closed at 5pm (WST) 8[th] September 2011. The Entitlement Issue raised approximately $594,000 before issue costs.

The Entitlement Issue was strongly supported by the Company’s shareholders, with applications subscribing for approximately 13 million Torrens Energy shares, representing a take-up of approximately 62%.

The Company advises that under-subscriptions (“the shortfall”) in relation to the Nonrenounceable Entitlements Issue dated 12[th] August 2011 at closing date 8 September 2011 totalled 8,019,424 shares.

The Company is also pleased to announce that is has placed the shortfall under the Entitlement Issue to raise a further A$361,000.

The Company expects that holding statements, following allotment of the Entitlement Issue Shares, will be dispatched to shareholders, on or before 16 September 2011.

Yours faithfully,

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Robert Hodby

Company Secretary

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