PEAKO LIMITED — Capital/Financing Update 2011

Apr 6, 2011

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7 April 2011

Mr Nicholas Ong Australian Stock Exchange Ltd 2 The Esplanade Perth WA 6000

Dear Sir

Details of Escrow Arrangements

Raisama Limited (RAI) confirms that following the completion of its takeover of Peak Oil & Gas Limited the escrow provisions currently in place and applying to certain of the Company’s securities are as follows:

Ordinary Shares

62,454,410 ordinary fully paid shares classified as restricted securities by ASX and to be held in escrow for a 24 month period from the commencement of re-quotation of the Company’s securities

15,968,428 ordinary fully paid shares classified as restricted securities by ASX and to be held in escrow for a 12 month period from the date of issue being 29 July 2010

5,588,369 ordinary fully paid shares classified as restricted securities by ASX and to be held in escrow for a 12 month period from the date of issue being 17 August 2010

431,622 ordinary fully paid shares classified as restricted securities by ASX and to be held in escrow for a 12 month period from the date of issue being 24 August 2010

624,716 ordinary fully paid shares classified as restricted securities by ASX and to be held in escrow for a 12 month period from the date of issue being 11 September 2010

23,887,500 ordinary fully paid shares classified as restricted securities by ASX and to be held in escrow for a 24 month period from the date of initial official quotation of the Company’s securities being 2 December 2009

Raisama Ltd ABN 79 131 843 868 Suite 1,16 Ord Street West Perth WA 6005 T +61 8 6143 1800 F +61 8 6143 1818 E info@raisama.com.au W www.raisama.com.au

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Options exercisable at 20 cents on or before 31 December 2012

3,500,000 classified as restricted securities by ASX and to be held in escrow for a 24 month period from the commencement of re-quotation of the Company’s securities

5,500,000 classified as restricted securities by ASX and to be held in escrow for a 24 month period from the date of initial official quotation of the Company’s securities being 2 December 2009

Options exercisable at 35 cents on or before 31 December 2013

3,250,000 classified as restricted securities by ASX and to be held in escrow for a 24 month period from the commencement of re-quotation of the Company’s securities

6,750,000 classified as restricted securities by ASX and to be held in escrow for a 24 month period from the date of initial official quotation of the Company’s securities being 2 December 2009

Options exercisable at 40 cents on or before 31 December 2014

200,000 classified as restricted securities by ASX and to be held in escrow for a 24 month period from the commencement of re-quotation of the Company’s securities

Options exercisable at 50 cents on or before 31 December 2014

3,550,000 classified as restricted securities by ASX and to be held in escrow for a 24 month period from the commencement of re-quotation of the Company’s securities

7,750,000 classified as restricted securities by ASX and to be held in escrow for a 24 month period from the date of initial official quotation of the Company’s securities being 2 December 2009

Yours truly, Raisama Limited

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David Berrie Managing director

Raisama Ltd ABN 79 131 843 868 Suite 1,16 Ord Street West Perth WA 6005 T +61 8 6143 1800 F +61 8 6143 1818 E info@raisama.com.au W www.raisama.com.au