NATION ENERGY INC.
Suite F - 0000 Xxxx 00xx Xxxxxx
Xxxxxxxxx XX X0X 0X0 Xxxxxx
April 29, 2015
TO:
Paltar Petroleum Limited
0000 Xxxxx Xxxxxx Xxxxx 0000
Xxxxxx, Xx. 00000
Attention:
Xx. Xxxx Xxxxxx
Dear Sirs:
RE:
Amended and Restated Letter Agreement Dated November 27, 2014
This letter, once executed by the parties, shall amend that certain Amended and Restated Letter Agreement dated November 27, 2014 (the “Agreement”) between Nation Energy Inc. as purchaser (the “Purchaser”), and Paltar Petroleum Limited (the "Vendor") regarding the transfer and sale by the Vendor of certain Australian oil and gas permit and application assets. Xxxx Xxxxxx (“Xxxxxx”), Xxxx Xxxxxx (“Xxxxxx”) and Wotan Group Limited (“Wotan”), all of whom are additional parties to the Agreement and certain ancillary agreements, join in and agree to the terms of this amendment.
1.
Paragraphs 8 and 15 of the Agreement are hereby amended to delete the reference to the date of April 15, 2015, and to insert instead the date of July 15, 2015.
1.
Upon execution of this amendment, the maturity date of the two promissory notes referred to in Paragraph 4 of the Agreement (being a promissory note in the amount of $172,040 and a promissory note in the amount of $127,960, both dated October 11, 2013) will be and is hereby extended from May 31, 2015 to July 31, 2015.
1.
Upon execution of this amendment, the maturity date of the promissory note referred to in Sections 6 and 7 of the Agreement will be and is hereby extended from May 31, 2015 to July 31, 2015.
Except as expressly set forth above, all terms and conditions of the Agreement remain in full force and effect. The parties agree that the additional time allowed by this amendment to accomplish the transaction documentation is ample consideration for such amendment.
If the foregoing correctly sets out the terms of our amendment, please execute this letter in the space provided. This Amendment may be executed in counterpart and such counterparts together shall constitute a single instrument. Delivery of an executed counterpart of this Agreement by electronic means, including by facsimile transmission or by electronic delivery in portable document format (“.pdf”), shall be equally effective as delivery of a manually executed counterpart hereof.
PALTAR PETROLEUM LIMITED
Per: “Xxxx X. Xxxxxx”
Per: “Xxxx X. Xxxxxx”
Authorized Signatory
Authorized Signatory
1
AGREED TO AND ACCEPTED THIS
29th DAY OF APRIL, 2015.
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“Xxxxxx Xxxxxx”
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Witness Signature
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Xxxxxx Xxxxxx
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“Xxxx X. Xxxxxx”
Name
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XXXX X. XXXXXX
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00/00 Xxxxxxxxxxxxxx Xxx, Xxxxxx
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Address
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“Xxxxxxx Xxxxxxx”
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Witness Signature
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Xxxxxxx Xxxxxxx
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“Xxxx X. Xxxxxx”
Name
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XXXX XXXXXX
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0000 Xxxxxxxx Xxxxx, Xxxxxxx, XX
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Address
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“Xxxxxx Xxxxxx”
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Witness Signature
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WOTAN GROUP LIMITED
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Xxxxxx Xxxxxx
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“Xxxx X. Xxxxxx”
Name
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Xxxx X. Xxxxxx, Chief Executive Officer
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00/00 Xxxxxxxxxxxxxx Xxx, Xxxxxx
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Address
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2
