EXHIBIT 10.1
AGREEMENT TO AMEND
COMMON STOCK PURCHASE AGREEMENT
This Agreement effective this 3rd day of December, 1998, by and between
Horizontal Ventures, Inc., a Colorado corporation ("HVI"), and Saba Petroleum
Company, a Delaware corporation ("Saba"), is intended to act as an amendment to
the Common Stock Purchase Agreement dated the 8th day of October, 1998 between
HVI and Saba.
WHEREAS, the parties to this Agreement acknowledge that a as result of
continued due diligence required relating to HVI's interest in acquiring a
controlling interest in Saba, certain modifications to the Common Stock Purchase
Agreement are required; and
WHEREAS, the parties acknowledge that the continuation of HVI's efforts
towards its goal of acquiring control of Saba is in the best interest of both
corporations.
NOW, THEREOFRE, in consideration of mutual covenants and promises
contained herein, the parties hereto agree as follows:
1. Extension of Closing. The final closing date initially scheduled
for 10:00 a.m. on December 4, 1998 as set forth in Section 2.1 of
the Common Stock Purchase Agreement shall be extended to 10:00
a.m. on or before January 31, 1999.
HORIZONTAL VENTURES, INC.
a Colorado corporation
By: /S/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx, Chairman
and Chief Executive Officer
SABA PETROLEUM COMPANY
a Delaware corporation
By: /S/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx, Chairman
of the Management Committee
