EXHIBIT 10.29
Viking Asset Management, L.L.C.
000 Xxxxxxxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxxxxxxx, XX 00000
April 8, 0000
Xxxxx Xxxxx Oil Company
000 Xxxxxxx 00 X.
Xxxxxxx, Xxxxx 00000
Attention: J. Xxxxx Xxxxxxxxx, Chief Executive Officer
RE: DEPOSIT ACCOUNT CONTROL AGREEMENTS
Ladies and Gentlemen:
Reference is hereby made to that certain Securities Purchase Agreement,
dated as of April 1, 2008 (as amended, restated, supplemented or otherwise
modified and in effect from time to time, and including all rights, claims and
remedies with respect thereto, the "PURCHASE AGREEMENT"), among South Texas Oil
Company, a Nevada corporation (the "COMPANY"), The Longview Fund, L.P., a
California limited partnership ("LONGVIEW FUND"), and Longview Marquis Master
Fund, L.P., a British Virgin Islands limited partnership ("MARQUIS FUND" and,
together with Longview Fund, the "BUYERS"), and that certain letter agreement,
dated April 1, 2008, executed by the Collateral Agent, the Buyers, the Company
and the Subsidiaries, in connection therewith (the "LETTER AGREEMENT").
Capitalized terms used but not otherwise defined herein shall have the meanings
ascribed to them in the Purchase Agreement
The Collateral Agent, each of the Buyers, the Company and each of the
Subsidiaries hereby agree that, solely for purposes of the paragraph numbered
(4) in the Letter Agreement, the "DELIVERY DEADLINE" is changed to April 11,
2008. As so revised, the Letter Agreement remains in full force and effect.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the parties hereto have caused this amendment to be
duly executed as of the date first written above.
VIKING ASSET MANAGEMENT, LLC, a California
limited liability company, in its capacity
as Collateral Agent
By: ___________________________
Name: S. Xxxxxxx Xxxxxxx
Title: Chief Financial Officer
THE LONGVIEW FUND, L.P.,
a California limited partnership
By: Viking Asset Management, LLC
Its: Investment Adviser
By: ___________________________
Name: S. Xxxxxxx Xxxxxxx
Title: Chief Financial Officer
LONGVIEW MARQUIS MASTER FUND, L.P.,
a British Virgin Islands limited
partnership
By: Viking Asset Management, LLC
Its: Investment Advisor
By: ___________________________
Name: S. Xxxxxxx Xxxxxxx
Title: Chief Financial Officer
60639394
Acknowledged and Agreed to this 8th
day of April, 2008.
SOUTH TEXAS OIL COMPANY,
a Nevada corporation
By:________________________________
Name: _____________________________
Title:_______________________________
STO OPERATING COMPANY,
a Texas corporation
By:________________________________
Name: _____________________________
Title:_______________________________
STO DRILLING COMPANY,
a Texas corporation
By:________________________________
Name: _____________________________
Title:_______________________________
STO PROPERTIES LLC,
a Texas limited liability company
By:________________________________
Name: _____________________________
Title:_______________________________
SOUTHERN TEXAS OIL COMPANY,
a Texas corporation
By:
By:________________________________
Name: _____________________________
Title:_______________________________
