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EXHIBIT 10.39
PETROLEUM EXPLORATION PERMIT 38330
DEED OF ASSIGNMENT
THIS DEED OF ASSIGNMENT is made this 27th day of February, 1998
BETWEEN: MOONDANCE ENERGY PTY LTD of 000 Xxxxxxxx Xx., Xxxxx,
XXXXXXX XXXXXXXXX 0000 ("Moondance Pty Ltd")
AND: MOONDANCE ENERGY LIMITED care of Xxxxxxxx & Xxxx Chartered
Accountants, Trust Xxxx Xxxxxxxx, 000 Xxxxxxx Xxxx, Xxxxxxxx, XXX
XXXXXXX ("Moondance Limited")
AND: INDO-PACIFIC ENERGY (NZ) LTD of 000 Xxxxxx Xx, Xxxxxx,
Xxxxxxxxxx, XXX XXXXXXX ("Indo")
AND: MOSAIC OIL NL 0-0 Xxxxxxxxx Xx, Xxxxxx, XXX XXXXX XXXXX,
0000 ("Mosaic")
AND: CONTINENTAL OIL NL 0-0 Xxxxxxxxx Xx, Xxxxxx, XXX XXXXX
XXXXX, 0000 ("Continental")
RECITALS
A. Moondance Pty Ltd, Indo, Continental and Mosaic are the
title holders of PEP38330 in the following percentage interests:
Indo 34.0%
Moondance Pty Ltd. 33.0%
Mosaic 20.0%
Continental 13.0%
B. Moondance Pty Ltd was issued the title in error and has
agreed to assign to Moondance Limited all of its 33.0% interest
in PEP38330, which company should be the title holder.
NOW THIS DEED WITNESSETH
1. DEFINITIONS AND INTERPRETATION
In this Deed, including the Recitals, except to the extent that
the context otherwise requires:
"Effective Date" means from the date of grant of PEP 38330.
"PEP 338330" means Petroleum Exploration Permit 38330 issued
under the Crown Minerals Xxx 0000 of New Zealand as amended from
time to time.
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2. ASSIGNMENT OF INTEREST
In consideration for the assumption of obligations under Clause 3
of this Deed, Moondance Pty Ltd hereby assigns to Moondance
Limited all of its 33.0% interest in PEP 38330, with effect from
the Effective Date so that with effect from the Effective Date
Moondance Limited, Indo, Continental and Mosaic hold the
following undivided interests in PEP 38330:
Indo 34.0%
Moondance Limited 33.0%
Mosaic 20.0%
Continental 13.0%
3. ASSUMPTION OF OBLIGATIONS
Moondance Limited to the extent of the 33.0% undivided interest
assigned to it under this Deed assumes and covenants with each of
Indo, Mosaic and Continental to perform with effect from the
Effective Date the liabilities, obligations, responsibilities and
duties of Moondance Pty Ltd with respect to the 33.0% interest
which is assigned to it under this Deed and agrees to indemnify
and hold Indo, Mosaic and Continental harmless against all such
liabilities, obligations, responsibilities and duties.
4. COSTS AND STAMP DUTY
The costs of and incidental to the preparation and execution of
this Deed together with all stamp duty and registration fees
payable on this Deed shall be borne and paid by Moondance
Limited.
5. GOVERNING LAW
This Deed shall be governed by and construed in accordance with
New Zealand law.
IN WITNESS WHEREOF this Deed of Assignment was executed on the
day and year first written above.
THE COMMON SEAL OF MOONDANCE ENERGY PTY LTD
Was hereunto affixed in )
The presence of )/s/ illegible
)Director
)/s/ illegible
)Secretary
THE COMMON SEAL OF MOSAIC OIL NL
Was hereunto affixed in )
The presence of )/s/ Xxxx Xxxxxxx
Director
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THE COMMON SEAL OF CONTINENTAL OIL NL
Was hereunto affixed in )
The presence of )/s/ Xxxx Xxxxxxx
) Director
SIGNED FOR AND ON BEHALF OF MOONDANCE ENERGY LIMITED
By Xxxxx Xxxxx, it's duly appointed )
attorney pursuant to a board resolution dated
10 February 1998, in the presence of: ) /s/ Xxxxx Xxxxx,
Attorney
SIGNED FOR AND ON BEHALF OF INDO-PACIFIC ENERGY (NZ) LTD
By its duly appointed attorney )
In the presence of ) /s/ Xxxxxxxx Xxxxxxxx Lean,
Attorney
PERMIT ENDORSEMENT
Permit Petroleum Exploration Permit (PEP) 38330
Action In terms of section 41 of the Crown Minerals Xxx 0000,
and in accordance with a delegation from the Minister of Energy
of 20 January 1998, the Manager Crown Minerals consented to a
Deed of Assignment whereby Moondance Energy Pty Limited assigned
its interest in the permit to Moondance Energy Limited.
Date 8 April 1998
Details The participating interests in this permit are now as
follows:
Indo-Pacific Energy (NZ) Limited 34.00 percent
Moondance Energy Limited 33.00 percent
Mosaic Oil NL 20.00 percent
Continental Oil NL 13.00 percent
Certified true and correct
/s/ Xxxxx Xxxxxxx
For Unit Manager Permitting
14/4/1998
