HYDROCARBON DYNAMICS LIMITED — Capital/Financing Update 2010

Jun 23, 2010

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Future Corporation Australia Limited

A.C.N. 075 419 715

Registered Office

Level 1, 2 Ross Place, South Melbourne VIC

24 June 2010

The Company Announcements Platform Australian Securities Exchange Exchange Centre 20 Bond Street SYDNEY NSW 2000

Oil Discovery in Catahoula Lake

Please find enclosed a copy of an announcement from Pryme Lake Exploration LLC (PLX) regarding its project located on Catahoula Lake, Louisiana.

PLX is owned 50% by Future Corporation Australia Limited (ASX: FUT) and 50% by Pryme Oil and Gas Limited (ASX: PYM).

A copy of this announcement is available at the ASX and can be viewed on the Company’s website www.futurecorp.com.au.

For further information please contact:

Barnaby Egerton-Warburton Managing Director Future Corporation Australia Ltd Telephone: +61 2 800 33 438 Email: bew@futurecorp.com.au

24 June 2010

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Oil Discovery in Catahoula Lake

The first well to be drilled from PLX’s barge rig in the Catahoula Lake Project, the State Lease 502 No.1 well, has been drilled to a total depth of 4,280 feet and logged resulting in the discovery of approximately 35 feet of net oil pay across multiple Middle Wilcox sands. Production casing is being run and the well is being set up for production. PLX has a 100% working interest (75% net revenue interest) in the well.

In addition to the targeted sands, the well intersected a number of newly discovered oil bearing sands providing the opportunity to establish additional drilling locations for future testing.

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Drilling of the SL 502 No.1 from the newly refurbished barge mounted rig in Catahoula Lake, Louisiana

“This is a very good result. The well will be completed and tied into PLX’ production facilities, flow lines and salt water disposal facilities,” said Ryan Messer, PLX’ Managing Member and Pryme’s Executive Director/COO. “This is the first well to be drilled with the barge mounted rig in over a decade and we are pleased to report that the refurbished rig performed well confirming that it will be a major component of PLX’ future exploration activities. Catahoula Lake is truly an underexplored area in the region and we are looking forward to continuing exploration success.”

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This will be the only well to be drilled with the barge mounted rig this season as the draining of Catahoula Lake by the US Army Corps of Engineers will commence in July. Drilling in the area of the lake will be continued with a land-based rig after the water level has been lowered and is expected to commence in September of this year. Drilling from the barge mounted rig is planned to resume in February 2011.

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Drilling crews working on the barge mounted rig in Catahoula Lake, Louisiana

Pryme Energy LLC, the wholly owned subsidiary and operating arm of Pryme Oil and Gas Inc., is the operator of the State Lease 502 No.1 well.

Project Description

Pryme Oil and Gas Limited and Future Corporation Australia Limited each own 50% of Pryme Lake Exploration (‘PLX’) which in turn owns a 50% Working Interest (36.5% NRI) in 7,676 mineral acres within Catahoula Lake and its surrounds and a 100% Working Interest (75% NRI) in 320 mineral acres within Catahoula Lake with associated oil production and facilities. PLX also owns a 50% interest in a drilling barge, service barges, crew boats and associated equipment which are required to drill and operate on Catahoula Lake.

The Catahoula Lake project is located in LaSalle, Rapides, and Grant parishes, Louisiana and is targeting multiple “stacked” oil zones throughout the Middle-Wilcox formation at depths ranging from 4,500 to 5,500 feet. Wells drilled in the Middle-Wilcox exhibit long production lives with low decline

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rates after the initial flush oil is produced and relatively steady production is established. Ultimate oil recoveries are expected to range from 50,000 through to 200,000 barrels drilled from land locations and in excess of 250,000 barrels for each successful well drilled from lake locations.

Ownership of the only equipment available to drill and service wells on Catahoula Lake provides PLX with a significant competitive advantage over other explorers throughout the entire 30,000 acre area of the lake, almost all of which is prospective.

For further information please contact:

Ryan Messer Barnaby E Warburton Managing Member Managing Member Pryme Lake Exploration LLC Pryme Lake Exploration LLC US Phone: +1 713 401 9806 AUS Phone: +61 2 8003 3438 Email: ryan@prymeoilandgas.com Email: bew@futurecorp.com.au

The information in this announcement has been reviewed by James A. Stewart (a registered professional Petroleum Geologist in the State of Louisiana and Mississippi in the United States of America) who has over 20 years experience in petroleum geology, drilling, well completions and production operations. Mr Stewart reviewed this announcement and consents to the inclusion of the geological and engineering descriptions and any estimated hydrocarbons in place or flow rates in the form and context in which they appear. Any resource estimates contained in this report are in accordance with the standard definitions set out by the Society of Petroleum Engineers, further information on which is available at spe.org.

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