Young Energy Prize S.A. Rives de Clausen, 26-28Investment Agreement • February 18th, 2011 • Magellan Petroleum Corp /De/ • Crude petroleum & natural gas
Magellan Petroleum Corporation (“MPC”) and Young Energy Prize S.A. (“YEP”) entered into an Investment Agreement on February 11, 2011 (the “Investment Agreement”) pursuant to which, among other things, YEP has agreed to provide A$85,450,000 of funding (the “Acquisition Funding”) for the prospective acquisition by Magellan Petroleum Australia Limited (“MPAL”) of a forty percent ownership interest (the “Interest”) in the Evan Shoal natural gas resource (“Evans Shoal”) which prospective acquisition is pursuant to an Asset Sale Deed dated March 25, 2010 between MPAL and Santos Offshore Pty Ltd. (“Santos”), as amended by a Deed of Variation dated January 31, 2011 between MPAL and Santos (together the “Santos Agreement”). This letter sets forth additional agreements between MPC and YEP regarding the Investment Agreement.
SECOND AMENDMENT TO SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • February 18th, 2011 • Magellan Petroleum Corp /De/ • Crude petroleum & natural gas
This SECOND AMENDMENT TO SECURITIES PURCHASE AGREEMENT (this “Amendment”) is made and entered into this 17 day of February, 2011, by and between Magellan Petroleum Corporation, a Delaware corporation (the “Company”), and Young Energy Prize S.A., a Luxembourg corporation (the “Investor”).
MAGELLAN PETROLEUM CORPORATION - YOUNG ENERGY PRIZE S.A. EVANS SHOAL PROJECT INVESTMENT INVESTMENT AGREEMENT Strictly private and confidentialInvestment Agreement • February 18th, 2011 • Magellan Petroleum Corp /De/ • Crude petroleum & natural gas • New York
This Investment Agreement is entered into on FEBRUARY 11, 2011, and sets out the key commercial terms which Magellan Petroleum Corporation (MPC) and Young Energy Prize S.A (YEP) (MPC and YEP being the Parties) agree to be bound by in relation to, amongst other matters (a) the acquisition by Magellan Petroleum Australia Limited (MPAL Old) from Santos Offshore Pty Ltd (Santos) pursuant to the Evans Shoal – Assets Sale Deed dated 25 March 2010 entered into between Santos and MPAL Old (as amended by the Deed of Variation – Assets Sale Deed dated 31 January 2011 and otherwise from time to time, the Assets Sale Deed) of Santos’s 40% interest in the Operating Agreement Covering Exploration Permit NT/P 48 dated 3 June 1996 (as amended) and related interests (the Evans Shoal Interests) between Santos and the other persons party thereto and (b) the ongoing investment and development of the Evans Shoal project (the Project) to which the Operating Agreement relates (together, the Transaction).
FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • February 18th, 2011 • Magellan Petroleum Corp /De/ • Crude petroleum & natural gas
This FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT (this “Amendment”) is made and entered into this 11 day of February, 2011, by and between Magellan Petroleum Corporation, a Delaware corporation (the “Company”), and Young Energy Prize S.A., a Luxembourg corporation (the “Investor”).
