HIGH PEAK ROYALTIES LIMITED — Director's Dealing 2010

Apr 21, 2010

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	Marcus Gracey
Date of last notice	28 November 2008

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.

Note: In the case of a company, interests which come within paragraph (i) of the depart.	Note: In the case of a company, interests which come within paragraph (i) of the depart.	Note: In the case of a company, interests which come within paragraph (i) of the depart.	Note: In the case of a company, interests which come within paragraph (i) of the depart.	Note: In the case of a company, interests which come within paragraph (i) of the depart.	finition of “notifiable interest of a dir	ector” should be disclosed in this	ector” should be disclosed in this	ector” should be disclosed in this
Direct or indirect interest				D	irect & Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.				M(T	illi Fl S	fd
					ennum acon uperrustee & Beneficiary)	un
Date of change				16	Aril 2010
					p
No. of securities held prior to change				1	5000 Full Paid Ordinar	Shares
				2131	, y2,500 Options exercisablMarch 2010	e at $0.25 expiring on
				40,000 Options exercisable at $0.70 expiring on30 June 2010100,000 Options exercisable at $1.00 expiring on
				30 June 2010200,000 Options exercisabl30 June 2010100000 Oi ibl		e at $1.50 ex$044	piring onii
				, ptons exercsa30 June 2011130,000 Options exercisabl30 June 2011160,000 Options exercisablon 30 June 2011		at . exe at $0.66 exe at 99 cents	rng onpiring onexpiring

Class	Fully paid sharesOptionsexercisable at $0.25 expiring on 31March 2010
Number acquired	12,500 Ordinary Shares
Number disposed	212,500 Options
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$3,125
No. of securities held after change	130,000 Fully Paid Ordinary Shares40,000 Options exercisable at $0.70 expiring on30 June 2010100,000 Options exercisable at $1.00 expiring on30 June 2010200,000 Options exercisable at $1.50 expiring on30 June 2010100,000 Options exercisable at $0.44 expiring on30 June 2011130,000 Options exercisable at $0.66 expiring on30 June 2011160,000 Options exercisable at 99 cents expiringon 30 June 2011
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Exercise of 12,500 Listed OptionsExpiry of 200,000 Listed Options

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