PEAKO LIMITED — Capital/Financing Update 2015

Feb 1, 2015

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2 February 2015

**EXPIRY

OF UNLISTED OPTIONS**

Peak Oil & Gas Limited (“Peak”) (ASX: PKO) advises that the following unlisted options expired on 31 December 2014:

• 69,207,569 options with an exercise price of $0.05

• 200,000 options with an exercise price of $0.40

• 17,800,000 options with an exercise price of $0.50

Additionally, 100,000 options with an exercise price of $0.05 expiring on 1 August 2015 have been cancelled in accordance with the terms of Peak’s employee share scheme.

The capital structure of the company following the cancellation of the options is as follows:

Number	+Class
680,257,24720,000,000	Ordinary shares25 November 2016 unlisted options @28 cents