August 9, 2007 Samson Oil & Gas USA, Inc
Exhibit
4.5
August
9,
2007
Samson
Oil & Gas USA, Inc
0000
Xxxx
Xxxx., Xxxxx 000
Xxxxxxxx,
Xxxxxxxx 00000
Samson
Oil & Gas Limited
Xxxxx
00,
Xxxxxxxx Xxxxx
0
Xxx
Xxxxxxxxx
Perth
WA
6000
Syndicated
Convertible Loan Facility Agreement between Samson Oil & Gas USA, Inc.
(“Samson”) and Macquarie Bank Limited (“MBL”) dated 26 May 2006 (“Credit
Agreement”)
Dear
Sirs
The
Credit Agreement at Section 9.2 provides for the delivery of Reserve
Reports.
MBL
waives the requirement to deliver the Reserve Report with an effective date
of
30 June 2007.
MBL
and
Borrower and Parent agree that the Reserve Report with an effective date of
31
March 2008 shall be prepared by an Independent Engineering
Consultant.
MBL
and
Borrower and Parent agree that the Reserve Report with an effective date of
30
June 2008 shall be prepared by the Parent.
Save
for
the above changes the provisions of clause 9.2 shall continue to apply
unamended.
MBL
and
Borrower and Parent agree that clause 9.23(b) of the Credit Agreement is
deleted.
MBL
and
Borrower and Parent agree that clause 9.23(e) of the Credit Agreement is amended
by replacing “1:1” with “1.2:1”.
Capitalized
terms used in this letter have, unless otherwise defined in this letter, the
same meaning as described in the Credit Agreement.
Please
acknowledge your acceptance of these matters by signing below and returning
this
letter to sender. Should you have any questions about the information provided
please feel free to contact Xxxxxxx Xxxxxxxx at
x00 0 0000 0000.
Yours
faithfully
|
/s/
Vanessa Lentall
|
/s/
Xxxx Xxxxxxx
|
|
Xxxxxxx
Xxxxxxxx
Division
Director
Metals
and Energy Capital Division
|
Xxxx
Xxxxxxx
Division
Director
Legal
Risk Management Division
|
Acknowledged
this 6th day of September, 2007
|
/s/
Xxxxx
Xxxxxx
Xxxxxx
Oil & Gas USA, Inc
/s/
Xxxxx
Xxxxxx
Xxxxxx
Oil & Gas Limited
|
