AMENDMENT
The undersigned, as signatories to the August 22, 2003 Agreement governing
the duties and compensation of Vaquero Oil and Gas, Inc. do hereby agree that
only Section 4 (a) of such agreement is modified as follows:
Section 4. Advances to Develop Oil and Gas Prospects. (a) In order to enable VOG
to perform its obligations hereunder, VP shall deliver to VOG (i) $150,000 as a
one-time advance on prospect development fees (the "Prospect Development
Advance"), payable in accordance with subsection (b) below, (ii) 91,667 shares
Dune's common stock (having an agreed upon value of $.02 per share) and (iii)
commencing on the date that VOG leases its office pursuant to Section 5 below,
$25,000 on the first day of each of the first six (6) months during the Term of
this Agreement and $12,500 on the first day of each month thereafter for the
second six months of the Term, for prospect development fees. It is expressly
understood that neither VOG, its officers, directors, employees or agents shall
be entitled to any other remuneration other than as specifically set forth in
this Section 4.
By signatures affixed below, the parties reaffirm the entirety of this
Agreement, except Section 4(a) as noted above.
Accepted and Agreed to this seventeenth day of November, 2003 by:
/s/ Xxxx X. Xxxxxxxxxx /s/ Xxxx Xxxxx
---------------------- ----------------------
Dune Energy, Inc. Vaquero Oil and Gas, Inc.
Xxxx X. Xxxxxxxxxx, President Xxxx Xxxxx, President & CEO
/s/ Xxxx Xxxxxxxx
----------------------
Vaquero Oil and Gas, Inc.
Xxxx Xxxxxxxx, Chairman
