0001062993-07-004119 Sample Contracts

STOCK OPTION AND SUBSCRIPTION AGREEMENT For U.S. Persons
Stock Option and Subscription Agreement • October 19th, 2007 • Arkanova Energy Corp • Gold and silver ores • Texas

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the covenants and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency whereof is hereby acknowledged, the parties hereto agree as follows:

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EXECUTIVE EMPLOYMENT AGREEMENT
Executive Employment Agreement • October 19th, 2007 • Arkanova Energy Corp • Gold and silver ores • Texas

THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into as of October 18, 2007, by and between ARKANOVA ENERGY CORPORATION, a Nevada corporation (the “Company”), and REGINALD DENNY, an individual and resident of Fort Worth, Texas (the "Executive").

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