Giant Oil & Gas Inc.
Giant
Oil & Gas Inc.
000
Xxxxxxx Xxxxx X.X., Xxxxx 0000
Calgary,
Alberta, T3H 3C8
March 19,
2008
To the
Holders of the Giant Oil & Gas Inc. Warrants:
Reference is hereby made to certain
Warrant Agreements (the “Agreements”), issued by Giant Oil & Gas Inc. in
connection with the Class A, Class B and Class C Warrants (collectively, the
“Warrants”). Terms used not otherwise defined herein shall have the meanings set
forth for such terms in the Agreements.
The Warrant Commencement Date has been
re-extended from May 20, 2008 to November 20, 2008 with respect to the Class A
Warrants; from November 20, 2008 to May 20, 2009 with respect to the Class B
Warrants; and from May 20, 2009 to November 20, 2009 with respect to the Class C
Warrants.
In
addition, the Warrant Expiry Date has been extended from May 20, 2009 to May 20,
2010 with respect to the Class A Warrants; from May 20, 2010 to May 20, 2011
with respect to the Class B Warrants; and from May 20, 2011 to May 20, 2012 with
respect to the Class C Warrants.
Please evidence your receipt and
acknowledgment of this letter by signing below and returning a copy of the
letter to us at the number indicated above.
If you have any questions, please do
not hesitate to contact the undersigned.
Sincerely,
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Giant
Oil & Gas Inc.
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/s/ Xxx Xxxxxx
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By:
Xxx Xxxxxx
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President
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Agreed and Acknowledged:
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