Contract
A.C.N.
009 069 005
02
August
2006
Mr.
Xxxxx
Xxxx
Xxxxx
Energy Limited
C/-Trident
Trust Company Limited
Trustees
of the Xxxxx Trust
00
Xxxx
Xxxxxx
ST
HELIER
JERSEY
Dear
Xxxxx,
I
refer
to the consultancy agreement dated 1 December 2005, between Samson Oil & Gas
Limited (“Samson”) and Xxxxx Energy Limited (“Xxxxx”).
I
wish to
advise that the Board of Directors of Xxxxxx have reviewed the consultancy
fees
payable to Xxxxx and confirm that effective 1 July 2006, the consultancy fee
payable pursuant to Clause 5.1 of the agreement shall increase from $230,000
per
annum to $280,000 per annum. All other terms in the agreement remains the same.
The
effect of this review will be that from 1 July 2006, Xxxxxx will pay Xxxxx
the
following:
Consultancy
fee
|
A$280,000
pa
|
Living
expenses
|
A$50,000
pa
|
Total
|
A$330,000
pa
|
Yours
faithfully
/s/
Xxxxx
Xxxxxx
XXXXX
XXXXXX
Company
Secretary