Amendment, Consent, Waiver and Release Sample Contracts

AMENDMENT, CONSENT, WAIVER AND RELEASE
Amendment, Consent, Waiver and Release • February 21st, 2007 • Canargo Energy Corp • Crude petroleum & natural gas • New York

This AMENDMENT, CONSENT, WAIVER AND RELEASE (this “Agreement”) is made and entered into as of the 9th day of February, 2007 by and among Tethys Petroleum Limited, a company incorporated and existing in the Island of Guernsey (“TPL”) (formerly known as Tethys Petroleum Investments Limited), Tethys Kazakhstan Limited, a company incorporated and existing in the Island of Guernsey (“TKL,” and together with TPL, each a “Company” and collectively the “Companies”), and the individuals and entities who or which are signatories hereto.

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AMENDMENT, CONSENT, WAIVER AND RELEASE
Amendment, Consent, Waiver and Release • February 21st, 2007 • Canargo Energy Corp • Crude petroleum & natural gas • New York

This AMENDMENT, CONSENT, WAIVER AND RELEASE (this “Agreement”) is made and entered into as of the 9th day of February, 2007 by and among Tethys Petroleum Limited, a company incorporated and existing in the Island of Guernsey (“TPL”) (formerly known as Tethys Petroleum Investments Limited), Tethys Kazakhstan Limited, a company incorporated and existing in the Island of Guernsey (“TKL,” and together with TPL, each a “Company” and collectively the “Companies”), and the individuals and entities who or which are signatories hereto.

AMENDMENT, CONSENT, WAIVER AND RELEASE
Amendment, Consent, Waiver and Release • February 21st, 2007 • Canargo Energy Corp • Crude petroleum & natural gas • New York

This AMENDMENT, CONSENT, WAIVER AND RELEASE (this “Agreement”) is made and entered into as of the 9th day of February, 2007 by and among Tethys Petroleum Limited, a company incorporated and existing in the Island of Guernsey (“TPL”) (formerly known as Tethys Petroleum Investments Limited), Tethys Kazakhstan Limited, a company incorporated and existing in the Island of Guernsey (“TKL,” and together with TPL, each a “Company” and collectively the “Companies”), and Persistency, a company incorporated in the Cayman Islands (“Purchaser”).

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