October 16, 2008 Infinity Energy Resources, Inc. 633 Seventeenth Street, Suite 1800 Denver, Colorado 80202 Re: Third Forbearance Agreement Ladies and Gentlemen:Forbearance Agreement • October 22nd, 2008 • Infinity Energy Resources, Inc • Drilling oil & gas wells • Texas
This letter (this “Agreement”) sets forth the third forbearance agreement among Infinity Energy Resources, Inc. (“Borrower”), a Delaware corporation; Infinity Oil and Gas of Texas, Inc., a Delaware corporation, and Infinity Oil & Gas of Wyoming, Inc., a Wyoming corporation (collectively “Guarantors”); and Amegy Bank National Association (“Lender”). Borrower, Guarantors, and Lender previously entered into a Forbearance Agreement (the “First Forbearance Agreement”) dated August 31, 2007, and a Second Forbearance Agreement (the “Second Forbearance Agreement”) dated March 26, 2008. Capitalized terms below have the meanings assigned in the Loan Agreement dated January 9, 2007, among Borrower, Guarantors, and Lender, as amended (the “Loan Agreement”).
