HYDROCARBON DYNAMICS LIMITED — Share Issue/Capital Change 2017

Jul 2, 2017

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3 July 2017

ASX Announcement ‐ Conditional Shares Update

Indago Energy Limited (ASX: INK) refers to previous disclosures made by it in relation to the potential issue of 20 million Conditional Shares to be issued by Indago to the vendors of the HCD business.

These additional shares were to be issued if HCD achieved revenue of several hundred thousand dollars worth of product on certain minimum terms and conditions.

These revenues have not been achieved within the requisite time period, and accordingly the Conditional Shares will not be issued.

The capital structure of Indago remains that as announced to ASX on 1 May 2017.

Julie Edwards Company Secretary

ABN: 75 117 387 354 Tel: +61 3 9642 2899 | Fax: +61 3 9642 5177 Level 6, 412 Collins Street, Melbourne VIC 3000 Australia