placement

http://www.asx.com.au/asxpdf/20080125/pdf/31732kj4d5117g.pdf

PRIVATE PLACEMENT SUCCESSFULLY COMPLETED

The Board of Pryme Oil & Gas Limited (Pryme) is pleased to announce the completion of a placement of
18,800,000 fully paid ordinary shares in the capital of Pryme at $0.35 per share to raise $6.58 million. The
placement was made to Messrs Ian McCauley and John Rawlins based in Queensland and Mr George Lloyd of
Sydney.
“The further investment in Pryme by Messrs McCauley and Rawlins strongly supports the Company’s US
growth strategy,” said Justin Pettett Pryme’s Managing Director. “I would also like to welcome Mr Lloyd as a
shareholder of the Company.”
The placement is subject to shareholder approval, having regard to the share issue limits imposed by ASX
Listing Rule 7.1. Accordingly, the Board of Pryme intends to convene a general meeting of shareholders on 5
March 2008 at 10.30am in the Oak Room, The Brisbane Club, 241 Adelaide Street, Brisbane Queensland to
seek shareholder approval of the transaction. A notice of meeting will be dispatched to shareholders next
week.
RMM Capital, of Brisbane, facilitated the placement for Pryme and will provide ongoing financial advisory
support and assistance to the Company.
The additional working capital will allow Pryme to further its drilling campaign in the Turner Bayou and Raven
Projects in Louisiana and to expand its exploration program into additional high impact areas in central Louisiana and Southern Texas.

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current sp - 31c