Common use of C E P T A N C E Clause in Contracts

C E P T A N C E. The above-mentioned Subscription Agreement in respect of the Shares is hereby accepted by Crown Oil and Gas Inc.DATED at _____________________________________, the _____day of __________________, 2008. Per: Authorized Signatory SHARE PURCHASE WARRANTS TO PURCHASE SHARES IN THE COMMON STOCK OF CROWN OIL AND GAS INC. (incorporated in the State of Nevada) CERTIFICATE NO.:______________ February 15, 2008 THIS IS TO CERTIFY THAT _____________________, (the "Holder") of _____________________, has the right to purchase, upon and subject to the Terms and Conditions hereinafter referred to, up to ______________ fully paid and non-assessable shares (the "Shares") in the common stock of Crown Oil and Gas Inc. (hereinafter called the "Company") on or before 4:30 p.m. (Pacific Standard time) on __________________, 2010 (the "Expiry Date") at a price per Share (the "Exercise Price") of: (i) US$1.50 for the first 12-month period after the Closing (as defined in Appendix "A" attached hereto); and (ii) US$2.00 for the remaining 24-month period after the Closing on the Terms and Conditions attached hereto as Appendix "A" (the "Terms and Conditions").

C E P T A N C E. The above-mentioned Subscription Agreement in respect of the Shares is hereby accepted by Crown Oil and Gas Inc.Inc. DATED at _____________________________________, the ______ day of __________________, 20082009. Per: _____________________________________________ Authorized Signatory SHARE PURCHASE WARRANTS TO PURCHASE SHARES IN THE COMMON STOCK OF CROWN OIL AND GAS INC. (incorporated in the State of Nevada) CERTIFICATE NO.:: ______________ February 15No. of Warrants: __________ September 1, 2008 2009 THIS IS TO CERTIFY THAT THAT: _____________________, (the "Holder") of _____________________ __________________________________________ __________________________________________ (the "Holder"), has the right to purchase, upon and subject to the Terms and Conditions hereinafter referred to, up to ______________ fully paid and non-assessable shares (the "Shares") in the common stock of Crown Oil and Gas Inc. (hereinafter called the "Company") on or before 4:30 5:00 p.m. (Pacific Standard time) on __________________, 2010 2011 (the "Expiry Date") at a price per Share (the "Exercise Price") of: (i) US$1.50 2.00 for the first 12-month period after (one to 12 months) following the Closing (as defined in Appendix "A" attached hereto); and (ii) US$2.00 2.50 for the remaining 24-month period after (13 to 24 months) following the Closing on the Terms and Conditions attached hereto as Appendix "A" (the "Terms and Conditions").

C E P T A N C E. The above-mentioned Subscription Agreement in respect of the Shares is hereby accepted by Crown Oil and Gas Inc.Pan American Gold Corporation. DATED at _____________________________________, the ________day of __________________, 20082006. Per: Authorized Signatory SHARE PURCHASE WARRANTS TO PURCHASE SHARES IN UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE COMMON STOCK HOLDER OF CROWN OIL AND GAS INC. (incorporated in the State of Nevada) CERTIFICATE NO.:THE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE ______________ February 15, 2008 ______________. [Instruction for Date: Insert the date that is 4 months and a day after the Closing Date] THIS IS TO CERTIFY THAT ___________________________________, (the "“Holder"”) of _________________________________________________, has the right to purchase, upon and subject to the Terms terms and Conditions conditions hereinafter referred to, up to ________________________________ fully paid and non-assessable common shares (the "“Shares"”) in the common stock capital of Crown Oil and Gas Inc. Pan American Gold Corporation (hereinafter called the "“Company"”) on or before 4:30 p.m. (Pacific Standard Vancouver time) on __________________, 2010 ________ (the "“Expiry Date"”) at a price per Share (the "“Exercise Price"”) of: (i) of US$1.50 for the first 12-month period after the Closing (as defined in Appendix "A" attached hereto); and (ii) US$2.00 for the remaining 24-month period after the Closing 0.90 on the Terms terms and Conditions conditions attached hereto as Appendix "“A" ” (the "“Terms and Conditions"”).

C E P T A N C E. The above-mentioned Subscription Agreement in respect of the Shares is hereby accepted by Crown Oil and Gas Inc.Inc. DATED at ______________________________________ , the ______ day of ___________________ , 2008. Per: Authorized Signatory SHARE PURCHASE WARRANTS TO PURCHASE SHARES IN THE COMMON STOCK OF CROWN OIL AND GAS INC. (incorporated in the State of Nevada) CERTIFICATE NO.:______________ February 15April 10, 2008 THIS IS TO CERTIFY THAT ______________________ , (the "Holder") of ______________________ , has the right to purchase, upon and subject to the Terms and Conditions hereinafter referred to, up to ______________ fully paid and non-assessable shares (the "Shares") in the common stock of Crown Oil and Gas Inc. (hereinafter called the "Company") on or before 4:30 p.m. (Pacific Standard time) on ___________________ , 2010 (the "Expiry Date") at a price per Share (the "Exercise Price") of: (i) US$1.50 for the first 12-month period after the Closing (as defined in Appendix "A" attached hereto); and (ii) US$2.00 for the remaining 24-month period after the Closing on the Terms and Conditions attached hereto as Appendix "A" (the "Terms and Conditions").