HYDROCARBON DYNAMICS LIMITED — Board/Management Information 2010

Jan 20, 2010

==> picture [588 x 111] intentionally omitted <==

Company Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

21 January 2010

Dear Sir

Appointment of Non-Executive Director

The Board of Pryme Oil and Gas Limited (ASX Code: PYM) is pleased to announce the appointment of Mr Greg Short as Non-executive Director.

Greg Short has a BSc. (Geology) (Hons) degree from the University of New England and is a Graduate of the Australian Institute of Company Directors.

He worked for 33 years for Esso/ExxonMobil, initially as a production and operations geologist, rapidly advancing to supervisory and management positions. In the 1980’s he managed Production Geoscience for Esso Australia covering major developments of several Gippsland Basin oil and gas fields. This was followed by 15 years overseas in senior exploration management assignments in the USA, Europe and Africa. In the USA Greg was responsible for all of Exxon’s exploration activities which included on-shore and off-shore Gulf Coast. He retired from Esso/ExxonMobil in 2006.

Greg has a strong technical grounding in exploration development and production geoscience, exploration operations, Joint Venture management, Government relations, budgeting, contract and project management and people management. He has spent many years successfully managing large, complex projects with multi-million dollar budgets, large staff and tight deadlines.

Greg is also a Non-executive Director of ASX listed MEO Australia Limited, appointed in July 2008.

“We are delighted that Greg has chosen to join Pryme” said George Lloyd, Chairman. “We are confident that Pryme will benefit greatly from his broad technical and management experience. His role as manager of Exxon’s USA exploration is of particular relevance to our activities.”

For further information, please contact

George Lloyd Justin Pettett Chairman Managing Director Pryme Oil and Gas Limited Pryme Oil and Gas Limited Telephone: +61 07 3371 1103 Telephone: +61 07 3371 1103 Email: justin@prymeoilandgas.com

Pryme Oil and Gas Limited is an Australian oil and natural gas producer and explorer with interests in the Gulf States of the U.S. The company has oil and gas exploration projects focused on Louisiana, the fifth-largest oil-producing state in the U.S. These projects are funded in part by existing cash flow. Pryme’s management team has over 75 years of energy industry experience and has uniquely focused local knowledge, underscored by the proven track records of its managers and directors. Directors of the company are George Lloyd (Non Executive Chairman), Justin Pettett (Managing Director) and Ryan Messer (Executive Director).

==> picture [404 x 58] intentionally omitted <==