0001104659-08-041392 Sample Contracts

VIA ELECTRONIC MAIL Date [Name of former Arkanova Energy, Inc. shareholder] Dear Sir:
Arkanova Energy Corp • June 23rd, 2008 • Gold and silver ores

Re: Consent, Waiver and Release of Covenant issued by Arkanova Energy Corporation (the “Company”) to the undersigned former shareholder of Arkanova Energy, Inc.

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