PEAKO LIMITED — Capital/Financing Update 2012

Sep 26, 2012

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27 September 2012

COMMITMENT TO DRILL KAKAPO WELL IN PEP 51311, OFFSHORE TARANAKI BASIN, NEW ZEALAND

• Drilling planned for 1H2013 contingent on rig contract

• Gross mean prospective oil resource of 378 mmbbl across five stacked reservoir sands.

• RAI’s 10% interest in PEP 51311 equates to around 38 mmbbl Oil

Raisama Energy Limited ( Raisama or Company ) advises that New Zealand Oil and Gas Limited ( NZOG ), the Operator of Taranaki Basin Permit PEP 51311, offshore New Zealand, has committed to drill the Kakapo Prospect.

Raisama has rights to earn a 10% Working Interest in the Kakapo prospect which has a gross mean recoverable prospective oil resource across 5 stacked target reservoir sands totalling 378 mmbbls, representing around 38 mmbbls net to Raisama.

Drilling is scheduled for 2013 with precise timing dependent on contracting a suitable rig however NZOG is targeting 1H2013. Drilling costs are anticipated to be around US$25 million, representing a cost to Raisama of around $4 million to confirm Raisama’s 10% interest in the project.

This very large prospect is located in the Taranaki Basin in relatively shallow water depths around 95m, making it suitable for a jackup or floating rig. The Taranaki Basin has discovered resources of 1.2 billion barrels of oil equivalent and the Kakapo Prospect is located between the Maari Oil Field (51 mmbbls) and the Kupe Gas Condensate Field (300 BCF/27 mmbbls).

Managing Director Jeff Steketee commented that the commitment to the well is welcome news as the impact of success on Raisama would be profound.

“The Kakapo well has been highly anticipated for some time now as changes in regulations coupled with local project delays have seen a temporary deferral of drilling activity in the Taranaki basin. We were initially drawn to Kakapo because of its multiple targets, relatively low cost and huge upside. These features still hold and the well provides Raisama shareholders with near term drilling activity and a significant impact on Company value for even modest success”, he said.

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----- Start of picture text ----- Kakapo Prospect----- End of picture text -----

Kakapo Prospect in PEP 51311 – Located between Maari and Kupe Oil & Gas Field

Raisama Energy Limited ABN 79 131 843 868 Suite 1, 16 Ord Street, West Perth WA 6005 PO Box 1255 West Perth WA 6872 t +61 8 6143 1800 f +61 8 6143 1818 e info@raisama.com.au w www.raisama.com.au

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Analysis of the latest seismic data over the Kakapo Prospect has identified an AVO (Amplitude Offset) anomaly representing a distinctive gas response at the “Motueka 4” target reservoir level (Mean Prospective Resource 186 mmbbls) which is structurally conformable to the crestal area of the structure. Such anomaly is indicative of a small gas cap trapped within the crest of the structure, raising the possibility that this cap could be overlying an oil column. The presence of a gas cap would also confirm that the prospect is in communication with a petroleum system and has the ability to trap oil and gas.

The New Zealand fiscal terms are some the best in the world with only a 20% Resource Profits Tax (compared to 40% in Australia), an attractive depreciation regime and a 28% Corporate Tax rate.

Consenting Persons Approval (Person Compiling Resource Information):

The Resource information in this announcement has been reviewed by Mr Jim Durrant BSc (SPE, AAPG Member). Mr Durrant has consented to the inclusion of this information in this announcement in the form and the context in which it appears. Mr Durrant is a full-time employee of the Company, with more than 30 years of relevant experience in the petroleum industry.

For further information please contact:

www.raisama.com.au info@raisama.com.au Jeff Steketee, Managing Director +61 8 6143 1800 Ian Howarth, Investor Relations +61 407 822 319

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