NATION ENERGY INC.Agreement Regarding Paltar Petroleum Limited Australia Permits & Applications • December 1st, 2014 • Nation Energy Inc • Oil & gas field exploration services
This letter sets out the Amended and Restated agreement (“Agreement”) reached among Nation Energy Inc. as purchaser (“the Purchaser”), and Paltar Petroleum Limited (the "Vendor") regarding the transfer and sale by the Vendor of the oil and gas permits and applications and other assets listed in Schedule A below to the Purchaser upon the terms and conditions set forth herein. Marc Bruner (“Bruner”) as an indirect major shareholder and CEO of the Vendor agrees to the terms hereof. This Agreement replaces in their entirety the letter agreement among the parties respecting the same or similar subject matters dated October 11, 2013 (the “Letter Agreement”), the First Amendment Letter Agreement dated March 31, 2014, and the drafted but unsigned Second Amendment to the Letter Agreement dated August 29, 2014. This Agreement contemplates the subsequent amendment of the Loan Agreement between Vendor and John Hislop dated October 11, 2013; the three promissory notes from Vendor, as borrower, to J
