PEAKO LIMITED — Capital/Financing Update 2012

Jun 28, 2012

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29 June 2012

KRX FARM-IN TO SOUTH BLOCK A SUMATRA

Raisama Energy Limited (“Raisama”) is pleased to advise that KRX Energy Pte Ltd (“KRX”) in association with Lion Energy Limited, a company listed on the Australian Stock Exchange, has executed a farm-in agreement with Indonesian company PT Prosys Oil & Gas International (“POGI”) to acquire a 35% non-operating participating interest for the South Block “A” Production Sharing Contract (“SBA”) in Sumatra Indonesia. Raisama controls a 51% participating interest through its majority controlled company RENCO Elang Energy Pte Ltd (“REE”) giving Raisama an effective 38.25% interest in the SBA. REE is also the Operator of the PSC and retains its full 51% participating interest.

Post the farm-in of KRX, participating interests in the SBA are:

 51% REE (Raisama) Operator – interest unchanged  14% POGI Reduced from 49% by farm-out to KRX  35% KRX Acquired from POGI interest

Further details of this transaction are contained in the Lion Energy announcement to the ASX and reproduced below.

Raisama welcomes the new group to the Joint Venture and looks forward to successful exploration and development of this highly prospective area and considers this investment in SBA an independent endorsement of the prospectivity and value of the block and of REE as the Operator.

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

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

15 Rheola Street West Perth WA 6005

Telephone +618 9213 4300 Facsimile +618 9213 4311

PO Box 512, West Perth Western Australia 6872

Web: www.lionenergy.com.au ASX Code: LIO

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ABN 51 000 753 640

ASX RELEASE

For immediate release 28 June 2012

KRX ENERGY EXECUTES FARM-IN AGREEMENT

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• Lion Energy Limited (“LION”) announced on June 18[th] 2012 that it had executed an agreement with KRX Energy Pte Ltd (“KRX”), paving the way for LION to provide ongoing funding for KRX as it moves forward with acquisition and development of oil and gas interests in SE Asia.

• Through a wholly owned subsidiary (KRX Energy (SBA) Pte. Ltd.), KRX has executed a Farm-in Agreement with PT Prosys Oil & Gas International for the SOUTH BLOCK “A” Production Sharing Contract in Indonesia and acquired a 35% non-operating participating interest for certain funding commitments in the forward work program approved by the SOUTH BLOCK “A” joint venture.

• With an extensive prospect and lead inventory compiled for the 2,105 sq.km. SOUTH BLOCK “A” identified by KRX as an un-risked potential range of 87 – 475 MMBBL for the oil case and 370 – 1,994 BCF for the gas case (on a 100% basis), the farm-in represents a relatively low cost entry into a significant portfolio.

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BACKGROUND

The South Block A Production Sharing Contract ("SBA PSC") was executed May 5[th] 2009 between PT Realto Energi Nusantara Corelasi (“RENCO”), PT Prosys Oil & Gas International (“POGI”) and Badan

Cont’d…/2

Lion Energy Limited ASX Release, page 2 of 2

Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (“BPMIGAS”) representing the Government of the Republic of Indonesia.

RENCO (with a 51% participating interest) was the designated Operator at the outset, however it subsequently transferred its interest in the Contract and Operatorship to RENCO Elang Energy Pte Ltd, a company incorporated under the laws of the Republic of Singapore (“REE”) and received approval of the transfer from BPMIGAS.

Post the farm-in of KRX, participating interests in the SBA PSC are:

• 51% RENCO Elang Energy Pte Ltd

• 14% PT Prosys Oil & Gas International

• 35% KRX Energy Pte Ltd[Note 1]

Note 1: Subject to routine approval of the assignment by the Indonesian Government

CONSIDERATION

KRX will pay 49% of the gross cash calls of US$8,000,000 made by the Operator for the current and future work program, comprising 35% for KRX’s contribution and 14% for POGI’s contribution up to a maximum of US$3,920,000 after which expenditure by parties will be on an equity share basis.

KRX’s title to the 35% participating interest is delivered free and clear of all loans, liens, mortgages and any other encumbrances, and specifically clear of any requirement to pay or reimburse POGI for any already paid signature bonus, or a part thereof.

BACKGROUND OF LION ENERGY LIMITED

LION, through its wholly owned subsidiary Lion International Investment Limited, holds a 2.5% shareholding in the Seram (Non Bula) Block Renewal Production Sharing Contract. The major shareholder and Operator of the Joint Venture is CITIC Seram Energy Limited (51%). Other partners include KUFPEC (Indonesia) Limited (30%) and Gulf Petroleum Investment (16.5%).

Following a restructure of shareholding agreed to by shareholders in February 2012, LION has and continues to pursue upstream oil and gas opportunities. In addition to the KRX Energy investment, the Company is vigorously pursuing other low risk opportunities globally.

Enquiries:

Contact Jack Toby (Company Secretary) Telephone: (08) 9213 4300 Email: info@lionenergy.com.au

Competent Person’s Statement:

Information in this report that relates to Hydrocarbon Reserves and or Resources is based on information compiled by Mr Russell Brimage, Director of Lion Energy Limited who has consented to the inclusion of that information in the form and context in which it appears.

Mr Brimage has over 30 years experience in the application of engineering to the petroleum industry in oil and gas exploration and production, both in Australia and internationally, as either an employee or consultant to oil companies operating in the upstream petroleum industry. Mr Brimage reviews the Company’s operations with the help of various professional consultants, appropriately qualified and experienced in their respective fields within the upstream petroleum industry. He is also an Associate Member of the Society of Petroleum Engineers.