HYDROCARBON DYNAMICS LIMITED — AGM Information 2009

Apr 7, 2009

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Pryme Oil and Gas Building a World‐Class Independent Oil & Gas Company

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Annual General Meeting of Shareholders 8 April 2009

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Producer of oil and natural with in some gas exploration upside of the most conventional and unconventional active plays in Louisiana

• Base operating costs covered by revenues at current oil and gas prices

• Diversified portfolio approach

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• Low risk, high impact exploration upside (seismic/ sub surface)

• Strong, strategic mineral lease positions in key projects

• High impact projects with very large upside potential

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D e v e l o p r e s e r v e s a n d b u i l d e a r n i n g s

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Core Resource Areas

Producing

• LaSalle Parish Project shallow/intermediate depth oil

• Raven – North Louisiana Cotton Valley engineering/development play

Development/Exploration

• Turner Bayou – 52,000 acre proprietary 3D seismic on trend Frio, Deep Wilcox & Austin Chalk targets

• Four Rivers ‐ “stacked” oil zones ‐

• throughout the Middle Wilcox formation

• Atocha – Tuscaloosa Trend (3.5Tcfe) re‐ entry o f ex st ng we i i ll m 5 il es nort h o f Port Hudson field, 2D seismic

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Producing

– LaSalle Parish Project (5%‐21.5% WI) stable oil production of approximately 1,200 barrels per month net to Pryme. Project risk spread over 6 fields and 24 wells throughout LaSalle Parish, Louisiana

Raven (40% WI 30% NRI) ‐ Prolific Cotton Valley natural gas trend in northern Louisiana. Currently monthly net production to Pryme is 10 , 000Mcf and 250 barrels of condensate

Dail Production et to P y (N ryme) LaSalle Parish Project 40‐50Bbls per day Raven 380Mcf per day 6‐10Bbls per day Total 110BOE per day

Total

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S o l i d F o u n d a t i o n o f A s s e t s

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Turner Bayou 52% Interest (39% NRI)

• Proprietary 3D survey containing numerous shallow Frio anomalies and deeper objectives

• 80 square miles (52,000 acres)

• Five wells drilled , three cased and awaitin g completion

• Currently in discussions with companies to ‐

• farm out deeper objectives , whilst retaining modest working interest

• Five Main Objectives

• Miocene/Frio sands

• Cockfield/Yegua sands

• Sparta sands

• Wilcox sands

• Deep Austin Chalk

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H i g h r a t e o f r e t u r n i n t h e a r e a

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Four Rivers 25% Interest (18.75‐20% NRI)

• Multiple “stacked” oil zones throughout the ‐

• Middle Wilcox formation

• Winn, Concordia and Catahoula Parishes in Louisiana, Adams and Jefferson Counties in Mississippi

• Partnered with successful regional explorer and producer , Tridimension Energy , who;

• Drilled 40 + wells in this same region over last 12 months with a success rate above 70%

• Primarily oil at depths ranging from approx. 3 , 000 to 6 , 000 feet

• Already seeing results with an oil discovery in Sunnyside Prospect

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P a r t n e r e d w i t h P r o v e n e x p l o r e r i n c r e m e n t a l g r o w t h

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Atocha 100% Interest (Farm out)

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• Up‐dip to Port Hudson field in the heart of t h e pro i l f ic Tusca oosa Tren l d

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• Developed by Amoco who later merged with BP

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• Produced 2.8Tcf and 120MMBbls to date

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• 6,400 contiguous acres close to existing infrastructure

• Mud log indicates 125 feet of bypassed pay

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• Estimated IP ~ 10,000 MCFE per day

• Quick payout ~ 10 months

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• Potential Resource (Re‐entry) ~ 28 BCFE

• Significant upside for Pryme

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T u s c a l o o s a T r e n d R e ‐ e n t r y

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Summary

• Existing producer

• Exploration and development upside through secured projects

• Proprietary 3D seismic to generate prospects

• High impact projects

Planned activity through to end of year

• Two Frio wells in Turner Bayou

• Farm out and drill deep test in Turner Bayou

• Continued drilling in Four Rivers (ten prospects to drill in 2009)

• F arm ou t an d re‐en t ry o f At oc h a

• Currently evaluating high impact oil project ~ 6,000 feet depth oil channel project

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S t r a t e g y t o g r o w r e s e r v e s a n d r e v e n u e

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Corporate information

Brisbane, Australia Ph	Shares on issue 111,056,732 +61733711103
one Office	Options on issue June 09 20 cent 2,118,000 D0940t 500000 Level 7, 320 Adelaide Street Brisbane QLD 4000
Houston, USA Phone Office	ec cen , Market Ca $5 88million +1 832 487 8607 Suite 1400,1001 Texas Av
Website	p . Price range $0.5 ‐ $0.32 (12 month range) Houston Texas 77002 www.prymeoilandgas.com
Email ASX Code:	Recent Price $0.053 (6 April 09) info@prymeoilandgas.com PYM
US ADR Code:	Shareholders ~ 1,350 Cash A$2.6 million POGLY
	No debt

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