HIGH PEAK ROYALTIES LIMITED — Director's Dealing 2008

Nov 25, 2008

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of 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.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	RICHARD DENNIS GEE
Date of last notice	30 MARCH 2007

Part 1 - Change of director’s relevant interests in securities

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.

Direct or indirect interest	Indirect
Nature of indirect interest	Gee-ology Pty Ltd <Dennis & Kitty Gee
(including registered holder)	S/F>
Note: Provide details of the circumstances giving rise to the relevantinterest.	(Director & Beneficiary)
Date of change	24 November 2008
No. of securities held prior to change	100,000 Ordinary Shares
	100,000 options exercisable $0.20, expiring
	31 March 2010
	250,000 options exercisable $0.25, expiring
	31 March 2010
Class	Options
Number acquired	390,000
Number disposed	Nil
Value/Consideration	Nil
Note: If consideration is non-cash, provide details and estimated valuation

• See chapter 19 for defined terms.

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	100,000 Ordinary Shares100,000 options exercisable $0.20, expiring31 March 2010250,000 options exercisable $0.25, expiring31 March 2010100,000 options exercisable $0.44, expiring30 June 2011130,000 options exercisable $0.66, expiring30 June 2011160,000 options exercisable $0.99, expiring30 June 2011
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Issue of options, pursuant to shareholderapproval at the Annual General Meeting heldon 24 November 2008.

Part 2 – Change of 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	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

Appendix 3Y Change of Director’s Interest Notice

• See chapter 19 for defined terms.

Appendix 3Y Page 3