DIGITALX LIMITED — Capital/Financing Update 2010

May 31, 2010

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ASX Announcement

1 June 2010

The Manager Company Announcements Office ASX Ltd 4th Floor, 20 Bridge Street SYDNEY, NSW 2000

Dear Sir,

VERUS INVESTS IN ONSHORE TEXAS OIL AND GAS PROSPECT AND

ANNOUNCES $1.1m CAPITAL RAISING

Key Points:

• New project investment – high impact Bongo Prospect, Texas

• Potential P50 gas reserves of 108 billion cubic feet of gas

• Drilling planned to commence in June 2010

• Share placement to raise $1.1m

• Corporate advisor appointed

Verus Investments Ltd (Verus) is pleased to announce the commitment to invest in the Bongo Prospect , a high impact exploration/appraisal gas well in Wharton County, Texas.

Funding for this investment will be through an equity placement to clients of Minc Stockbroking, raising $1.1m (less costs) via the issue of 50 million ordinary shares.

In announcing this investment, Verus Chairman, Mr Andrew McIlwain, said the Company is extremely pleased to be able to compliment our recent success at the Fausse Point project with participation in this soon to be drilled, highly prospective well.

“As previously announced, Fausse Point will commence production early this month and Bongo provides us with an opportunity in a highly endowed field.”

Office Address: Ground Floor, 30 Ledgar Road, Balcatta, Western Australia 6021 Postal Address: PO Box 717, Balcatta, Western Australia 6914 Phone: +61 (0)8 9240 8645 Fax: +61 (0)8 9240 2406 Email: info@verus.com.au Web: www.verus.com.au Page 1 of 4

Bongo Project

Verus is pleased to announce the acquisition of a 9.375 per cent working interest (WI) in the Bongo Prospect in Wharton County, Texas.

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Bongo is owned by Caza Petroleum, Inc (Caza) and operated by Caza Operating, LLC. The prospect is located onshore in the upper Texas gulf coast approximately 65 miles south west of Houston. Total leasehold associated with this WI is in excess of 4,000 contiguous acres.

This initial investment enables Verus to participate in drilling the highly prospective OB Ranch # 1 well, which has a designed target depth of approximately 16,000’.

The drilling contract has been awarded and drilling of the well is due to commence within three weeks. The drilling campaign is expected to take approximately 3 to 4 weeks with the TD reached by Mid to late July. Should the well prove to be a discovery the completion and testing should take approximately 2 weeks from reaching TD.

“The Bongo Prospect is regarded as having a very high chance of success and is being drilled by an operator who has good local experience,” Mr McIlwain said.

“The OB Ranch # 1 well is not considered a difficult well and we have a high level of confidence in the capabilities of the experienced Caza Operating team. Caza has recently completed two wells in the adjacent block.”

Current P50 reserve estimates of the Bongo Prospect is 108 billion cubic feet (BCF) with upside (P90) of up to a total of 250 Bcf of gas.

Verus earn in costs are approximately US$885k for lease acquisition and well drilling costs. If successful, well completion and testing costs is expected to be an additional US$240k. This investment will provide Verus with a 9.375% WI.

“Bongo forms an additional key investment for us with drilling to commence imminently in a highly endowed field,” Mr McIlwain said.

“We have procured funding for this investment and, if successfully developed, the Bongo prospect could compliment the success from Fausse Point.

“We are delighted to have the opportunity to participate in this field along with a partner such as Caza as the operator.”

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Verus can also, at its election, choose to invest in any future wells drilled on the Bongo prospect, by paying its proportion (9.375%) of drilling and completion costs.

Capital raising

Minc Stockbroking, an ASX broking firm, has been mandated to raise $1.1million to fund the acquisition of the working interest (WI) in the Bongo Prospect.

Under this mandate, Verus will issue up to 50 million shares to clients of Minc at a price of 2.2c. In addition to a cash fee for its services, Minc will be issued 15 million unlisted options with a 3c exercise price, expiring 31 December, 2010. The placement is not subject to shareholder approval and will fall within the Company’s 15% placement capacity under ASX Listing Rule 7.1.

The previously announced $20 million equity drawdown facility through Truestone will not be pursued at this stage.

“We are pleased to have the support of Minc through this raising, particularly in the current market environment, and look forward to getting on with the growth of Verus,” Mr McIlwain said.

Appointment of Corporate Advisor

Verus is also pleased to announce the appointment of Active Energy Advisors Pte. Ltd (“AEA”) as its Corporate Advisor.

AEA has previously assisted Verus with the identification of and subsequent investment in the Fausse Point Project. AEA are oil and gas consultants based in Singapore with significant experience in providing corporate advice and support to companies in the oil and gas industry.

“Following the initial drilling success of Fausse Point earlier this year, we have been fortunate to have seen numerous projects and investment opportunities,” Mr McIlwain said.

“To ensure that we capture the best of these opportunities, AEA will assist us in the identification, review and securing of investments suitable for Verus. The proposed Bongo investment is a clear example.”

“AEA’s terms of engagement, which include payment for introduction and assistance with the Bongo transaction of 4.6 million Verus shares, clearly aligns them with our longer term growth objectives. The share issue is not subject to shareholder approval and will fall within the Company’s 15% placement capacity under ASX Listing Rule 7.1.

“We see ourselves with a diversified asset portfolio in the not-too-distant future.”

Yours faithfully

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Andrew McIlwain Chairman

For further information, contact either;

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Mr. Andrew McIlwain (03) 9817 5067, or Mr Nathan Ryan Investor Relations 0420 582887, or Mr. Paul Jurman/Mr. Craig Nelmes (08) 9240 8645

About Caza Petroleum Inc

Caza Oil & Gas, Inc is an established Texas-based oil and gas explorer, developer and producer operating in Texas Gulf Coast, South Louisiana, Southeast New Mexico and the Permian Basin of West Texas regions of the United States through its subsidiary, Caza Petroleum, Inc.

Caza is listed on both the Toronto Stock Exchange and has been admitted to trading on London’s Alternative Investment Market (TSX: CAZ) (AIM: CAZA).

About the Bongo Prospect

The Caza Petroleum Inc Bongo prospect is located one fault block trend (less than 1.6 miles) south and down dip to the highly prospective and productive West Wharton Field currently being developed by Caza Petroleum and Forest Oil Corporation. To date, Forest Oil has drilled three wells and is currently drilling a 4th well; similarly Caza has now drilled 2 wells in the field. The field has produced nearly 10 BCF with the expected ultimate gas production to average 8-10 BCF per well.

The Bongo prospect has an identical structural and stratigraphic setting as Wharton West Field. Offset analogue wells drilled in the Wharton West Field have produced at very good sustainable rates with initial production rates varying from 5 to 10 million standard cubic ft of gas per day.

The Bongo Prospect is located in the down dip geo pressured Upper Wilcox Trend in Wharton County, Texas. The upper Wilcox trend is a high quality and mature exploration and producing trend.

The Wilcox formation is an important producing trend in Texas. Earliest production established in south and south east Texas in 1920’. Wilcox fields range from 300 BCF at Cooley Field to 1 BCF single well fields.

Bongo prospect targets an up thrown 3 –way closure adjacent to the West Wharton Field. 3D seismic data indicates reservoirs which appear to correspond to amplitude anomalies that show AVO response.

Fault block appears to be a sealed compartment, as indicated by pore pressure data derived from seismic frequency analysis.

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