PEAKO LIMITED — M&A Activity 2011

Mar 16, 2011

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17[th] March 2011

The Manager Company Announcements Office ASX Limited Level 10, Exchange Centre 20 Bond Street SYDNEY NSW 2000

ASX Code: RAI

Dear Sir / Madam

TAKEOVER BID FOR PEAK OIL & GAS LIMITED

EXTENSION OF CLOSING DATE OF OFFER

Raisama Limited (ASX: RAI) (”Raisama”) announces that in accordance with relief granted by ASIC, the Company has extended the closing date of its takeover offer for all the shares in Peak Oil & Gas Limited ( Peak ) to 5.00pm WST on 30 March 2011 .

The principal purpose of the extension is to enable Raisama further time within which to satisfy the requirements of ASX for the provision of restriction agreements in respect of those Raisama securities which are classified by ASX as restricted securities.

In accordance with section 647(3)(c) of the Corporations Act 2001 (Cth) ( Act ), we enclose by way of lodgement a copy of Raisama’s supplementary bidder’s statement dated 17 March 2011.

In accordance with section 650D of the Act, we enclose by way of lodgement a copy of Raisama’s notice dated 17 March 2011 varying its offer contained in its bidder’s statement.

Yours faithfully

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David Berrie Managing Director

Raisama Limited ABN 79 131 843 868

19 Richardson Street West Perth WA 6005 PO Box 1255 West Perth WA 6872 t +61 8 9322 7702 f +61 8 9322 7705 e info@raisama.com.au w www.raisama.com.au