HIGH PEAK ROYALTIES LIMITED — Director's Dealing 2007

Jul 15, 2007

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity TORRENS ENERGY LIMITED ABN 79 118 065 704

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	MARCUS GRACEY
Date of appointment	10 JULY 2007

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

NIL

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

	Name of holder & nature ofinterestNote: Provide details of the circumstances giving rise tothe relevant interest.Marcus Gracey & Anton GraceyATF Millenium Falcon S/FBeneficial InterestMillenium Falcon Pty Ltd <GraceyFamily Trust>Beneficial Interest	Number & class of Securities115,000 Ordinary Fully Paid Shares12,500 options exercisable at 25 cents, expiring31 March 2010200,000 options exercisable at 25 cents, expiring31 March 2010

Part 3 – Director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) No. and class of securities to which interest relates

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002