HYTERRA LTD — Director's Dealing 2012

Jan 17, 2012

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Tango Petroleum Limited ABN 86 116 829 675

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

We (the entity) give ASX the followingthe director for the purposes of section	information under listing rule 3.19A.2 and as agent for205G of the Corporations Act.
Name of Director	Mathew Walker
Date of last notice	19/09/2011

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	a). Directb). Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	a). Mr Mathew Donald Walkerb). Mafe Holdings Pty Ltd (Mr Walker is adirector and shareholder)
Date of change	18/01/2012
No. of securities held prior to change	a). 14,84,850 Fully Paid Ordinarya). 14,564,600 Options (Exercisable at $0.06 onor before 30 June 2012)b). 500,000 FullyPaid Ordinary
Class	Fully Paid Ordinary
Number acquired	a). 14,845,850 Fully Paid Ordinaryb). 500,000 Fully Paid Ordinary
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	a). $148,458.50b). $5,000
No. of securities held after change	a). 29,691,700 Fully Paid Ordinarya). 14,564,600 Options (Exercisable at $0.06 onor before 30 June 2012)b). 1,000,000 Fully Paid Ordinary
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Participation in Entitlement Issue

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

D	etail of contrac	t	N/A	N/A
N	ature of interes	t	N/A
N(i	ame of register	ed holder	N/A
	f issued securi	ies)
D	ate of change		N/A
NiNci	o. and class	of securities to which	N/A
	nterest related pote: Details a	rior to changere only required for a
	ontract in re	lation to which the
	nterest has ch	anged
I	nterest acquired		N/A
I	nterest dispose	d	N/A
VNpv
	alue/Consideraote: If consi	tionderation is non-cash,	N/A
	rovide detailaluation	s and an estimated
I
	nterest after cha	nge	N/A
	rt 3 –+Close	d period
		sts in the securities or contracts detailed aboveNo
Wtr	ere the intere	sts in the securities or contracts detailed above		No
	raded during a**euired? **	+closed period where prior written clearance was
	**q **
Ifp	so, was prior	written clearance provided to allow the trade to		N/A
	roceed during t	his period?
If prior written clearance was provided, on what date was thisprovided?	rior written	clearance was rovided on what date was this		N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above	No
traded during a+closed period where prior written clearance was
**required? **
If so, was prior written clearance provided to allow the trade to	N/A
proceed during this period?
If prior written clearance was provided, on what date was this	N/A
provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011