ContractWarrant Agreement • July 3rd, 2001 • Beta Oil & Gas Inc • Crude petroleum & natural gas • Oklahoma
WARRANT AGREEMENT THIS WARRANT AGREEMENT (this "Agreement") is made and entered into as of June 28, 2001, between BETA OIL "$amp;" GAS, INC., a Nevada corporation (the "Company") and the person identified on the signature page (hereafter the "Holder"). R E C I T A L S WHEREAS, the Company proposes to issue to the Holder 1,250 "A" warrants (the "A Warrants") and 1,250 "B" warrants (the "B Warrants") for each 5,000 shares of 8% Convertible Preferred Stock of the Company (the "Preferred Shares") purchased by Holder. The A Warrants and the B Warrants are together referred to herein as the "Warrants." Each Warrant entitles the holder thereof to purchase one share of Common Stock, $0.001 par value, of the Company (the "Shares" or the "Common Stock") at an exercise price of $9.25 per Share (the "Exercise Price"); and WHEREAS, the Warrants which are the subject of this Agreement will be issued by the Company to Holder in connection with an investment by the Holder pursuant to a private offerin
