HYDROCARBON DYNAMICS LIMITED — Major Shareholding Notification 2008

Jul 10, 2008

Form 605 Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To: PRYME OIL AND GAS LIMITED

ACN 75 117 387 354

1. Details of substantial holder (1)

Name: ANANDA KATHIRAVELU

The holder ceased to be a substantial holder:

The previous notice was given to the company on: 20/04/2006 The previous notice was dated: 19/04/2006

2. Previous and present voting power

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Personwhoserelevantinterestchanged	Nature ofchange (4)	Considerationgiven inrelation tochange (5)	Class (6)and numberof securitiesaffected	Person’svotesaffected
19/04/2006	AnandaKathiraveluand ValerieKathiravelu	Allotment ofOrdinaryShares atIPO	$7,000	35,000	35,000
02/07/2008	ArmadaCapitalLimited	Issue ofordinaryshares upontheconversionof $0.20options	$260,730	1,303,650	1,303,650
09/07/2008	ArmadaCapitalLimited	Off-markettransfer ofshares	$0.00	2,484,375	2,484,375

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A

4. Addresses

The addresses of persons named in this form are as follows: Name: Ananda Kathiravelu Address: 87 Alfred Road, Mount Claremont WA 6010

Signature

Print name: Ananda Kathiravelu Date: 11/07/2008