TORO ENERGY LIMITED — Director's Dealing 2011

Dec 6, 2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity TORO ENERGY LIMITED ABN 48 117 127 590

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Mr Greg Hall
Date of last notice	9 November 2011

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct & Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Sharon Lee Hall as Trustee of the Sandalwood Family Trust
Date of change	30 November 2011
No. of securities held prior to change	Direct 176,333 Ordinary Shares Indirect 1,000,000 Unquoted Options with an exercise price of $0.45 and expiry date of 31 March 2012. 1,000,000 Unquoted Options with an exercise price of $0.25 and expiry date of 19 March 2014.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	Options – Unquoted
Number acquired	2,000,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	Direct 176,333 Ordinary Shares 500,000 Unquoted Options with an exercise price of $0.22 and expiry date of 11 January 2016. 500,000 Unquoted Options with an exercise price of $0.30 and expiry date of 11 January Indirect 1,000,000 Unquoted Options with an exercise price of $0.45 and expiry date of 31 March 2012. 1,000,000 Unquoted Options with an exercise price of $0.25 and expiry date of 19 March 2014. 500,000 Unquoted Options with an exercise price of $0.22 and expiry date of 11 January 2016. 500,000 Unquoted Options with an exercise price of $0.30 and expiry date of 11 January 2016.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Following approval by shareholders on 30 November 2011, the grant of options to Mr Greg Hall was approved to retain his services and provide incentives linked to the performance of the Company.

• See chapter 19 for defined terms.

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01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

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