EXHIBIT 10.3
[LOGO OF ZYDECO
APPEARS HERE]
EXPLORATION, INC.
--------------------
000 X. Xxx Xxxxxxx Xxxx. X.
Xxxxx 0000
Xxxxxxx, Xxxxx 00000
(000) 000-0000
Fax (000) 000-0000
August 5, 1996
Cheniere Energy Operating Co., Inc.
000 Xxxx Xxxxxx, Xxxxx 0000
Xxx Xxxx, XX 00000
Re: Second Amendment
Gentlemen:
I am writing with respect to that certain Exploration Agreement dated April
4, 1996, by and between FX Energy, Inc. and Zydeco Exploration, Inc., as amended
by that certain First Amendment dated May 15, 1996 (the "Agreement"). For
convenience, terms defined therein shall have the same meaning when used herein.
FX Energy, Inc. has changed its name to Cheniere Energy Operating Co., Inc.
("FX"). We desire to amend the Agreement as follows:
1. FX did not make the payment of $1,000,000 to the segregated
account which was due on June 30, 1996 under Section 2 of the
Agreement. FX shall make the $1,000,000 payment originally due
June 30, 1996 to the segregated account on or before August 9,
1996. A failure to make such a payment by such date shall,
notwithstanding anything in the Agreement to the contrary, be
treated as a Discontinuance under Section 5.
2. FX did not make the payment of $1,000,000 to the segregated
account which was due on July 30, 1996. FX shall make the
$1,000,000 payment originally due July 30, 1996 to the segregated
account on or before October 31,1996. A failure to make such a
payment by such date shall, notwithstanding anything in the
Agreement to the contrary, be treated as a Discontinuance under
Section 5.
Cheniere Energy Operting Co., Inc.
August 5, 1996
Page 2
3. It is the intent of the parties that no grace period apply to the
payments required under this letter to be paid on August 9, 1996
and October 31, 1996.
4. The parties agree that the agreements by Zydeco to defer payments
under Section 2 do not obligate Zydeco to grant further waivers
nor waive the rights of Zydeco to have payments made at the times
provided in the Agreement, as modified hereby.
If I have correctly set forth our agreements, kindly so indicate by
executing one counterpart of this letter and returning it to the undersigned.
Yours very truly,
ZYDECO EXPLORATION, INC.
By: /s/ Xxx X. Xxxxx, Jr.
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Its: Xxx X. Xxxxx, Jr., President
ACCEPTED AND AGREED TO THIS
8th DAY OF AUGUST, 1996.
Cheniere Energy Operating Co., Inc., formerly FX Energy, Inc.
By: /s/ Xxxxxxx X. Xxxxxx
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Its: President
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