UNDERWRITING AGREEMENTUnderwriting Agreement • September 30th, 2009 • Compton Petroleum Corp • Crude petroleum & natural gas • Alberta
Canaccord Capital Corporation (the “Lead Underwriter”), BMO Nesbitt Burns Inc., FirstEnergy Capital Corp., Scotia Capital Inc., TD Securities Inc. and Salman Partners Inc. (together with the Lead Underwriter, the “Underwriters”), understand that Compton Petroleum Corporation (the “Corporation”) proposes to issue and sell 120,000,000 units (the “Firm Units”) of the Corporation, each Firm Unit consisting of one Common Share (as hereinafter defined) (“Unit Share”) and one Common Share purchase warrant (each a “Warrant” and, collectively, the “Warrants”) of the Corporation. Each Warrant and Option Warrant (as hereinafter defined) will entitle the holder thereof to purchase one Common Share (a “Warrant Share” and, collectively, the “Warrant Shares”) at a price of $1.55 per Warrant Share at any time prior to 5:00 p.m. (Calgary time) on the date which is 24 months following the Closing Date (as hereinafter defined), after which time the Warrants will expire and be void and of no value. The Wa
