C:\Users\User\hello>C:\Python27\python.exe setup.py py2exe
...
*** copy extensions ***
*** copy dlls ***
copying C:\Python27\lib\site-packages\py2exe\run.exe -> C:\Users\User\hello\dist
\hello.exe
The following modules appear to be missing
['builtins']

*** binary dependencies ***
Your executable(s) also depend on these dlls which are not included,
you may or may not need to distribute them.

Make sure you have the license if you distribute any of them, and
make sure you don't distribute files belonging to the operating system.

   USER32.dll - C:\Windows\system32\USER32.dll
   SHELL32.dll - C:\Windows\system32\SHELL32.dll
   ADVAPI32.dll - C:\Windows\system32\ADVAPI32.dll
   WS2_32.dll - C:\Windows\system32\WS2_32.dll
   GDI32.dll - C:\Windows\system32\GDI32.dll
   KERNEL32.dll - C:\Windows\system32\KERNEL32.dll

C:\Users\User\hello>cd dist

C:\Users\User\hello\dist>hello.exe
Traceback (most recent call last):
  File "hello.py", line 4, in <module>
  File "future\standard_library\__init__.pyc", line 449, in <module>
  File "future\standard_library\__init__.pyc", line 381, in install_hooks
ImportError: No module named UserList