Common use of Prospectus Exempt Subscription Commitment Clause in Contracts

Prospectus Exempt Subscription Commitment. 2.1 The undersigned (the “Investor”) hereby subscribes for and agrees to purchase from Austral Pacific Energy Ltd. (herein the “Issuer”), subject to the terms and conditions set forth herein, that number of Shares of the Issuer set out on the face page of this Subscription Agreement at the price of US$1.30 per Share. Subject to the terms hereof, this Subscription will be deemed to have been made and be effective only upon its acceptance by the Issuer.

Prospectus Exempt Subscription Commitment. 2.1 The undersigned (the “Investor”) hereby subscribes for and agrees to purchase from Austral Pacific Energy Ltd. (herein the “Issuer”), subject to the terms and conditions set forth herein, that number of Shares Units of the Issuer set out on the face page of this Subscription Agreement at the price of US$1.30 2.50 per ShareUnit. Subject to the terms hereof, this Subscription will be deemed to have been made and be effective only upon its acceptance by the Issuer.