Common use of Specific Actions Clause in Contracts

Specific Actions. Without limiting clause 6.1, the Seller acknowledges the following required actions (and where necessary shall provide the appropriate funding to, or on behalf of, the Company or Petrogas to ensure that any necessary obligations can be met) and: (a) (application for production license – Petroleum Licence 3599) agrees to procure that the Company shall immediately take steps to establish commercial production on Petroleum Licence 3599 (which is due to expire on 21 August 2010) and the Company has prepared and submitted its application to convert the “Alpullu Discovery” to a production license. In addition, the Seller in coordination with the Buyer shall immediately commence planning and proceed with construction of a connection line from the “Alpullu” field to a market and shall permit the Buyer to review and comment on such plans and commitments prior to finalisation. Until the production license is rejected definitely by the GDPA or the production license is granted to the Company, the Buyer agrees to ensure that the Company shall continue production either by means of pipelines or in CNG form; provided the Seller indemnifies the Buyer for any Claims by third parties; Amity Oil Share Purchase Agreement (b) agrees to procure that Petrogas: (i) (regional drilling obligation – Petroleum Licences 4037, 4094 and 4532) shall take all necessary steps to prepare for drilling of a well by 30 July 2010 on Petrogas’s Petroleum Licences 4037, 4094 and 4532 (each of which has been granted a six month extension to 30 July 2010 under article 33 of the Petroleum Law of the Republic of Turkey) and shall provide all plans and applications in advance to the Buyer for comment and, where appropriate, for revision prior to implementation; (ii) (3D survey on Petroleum Licence 4037) complies with its obligations in respect of the 3D seismic survey on Petroleum Licence 4037 (including pursuant to the contract with Viking Geophysical Services Ltd STI dated 17 November 2009 as subsequently supplemented, amended or varied including by amendment dated 31 May 2010); (iii) (regional drilling obligation – Petroleum Licence 3864) shall provide evidence that a 6 month extension (under article 33 of the Petroleum Law of the Republic of Turkey) to 28 October 2010 has been granted in respect of Petrogas’s Petroleum Licence 3864; and (iv) (Petroleum Licence extension – Petroleum Licence 3864) shall provide to the Buyer the application for a two year extension of Petrogas Petroleum Licence 3864 (under article 55/2 of the Petroleum Law of the Republic of Turkey) which Petrogas has applied for prior to the date of this agreement; (c) agrees to provide to GDPA the requisite bank guarantee in respect of the extension referred to in clause 6.3(b)(iv) before Completion and as soon as possible after GDPA formally asks for it; (d) agrees that it will (and will procure that the Company and Petrogas) furnish promptly to the Buyer all correspondence to and from GDPA with regard to the Petroleum Licences in general (and, without limitation, the matters referred to in this clause 6.3); and (e) agrees that it will procure that the Company immediately applies to the GDPA to withdraw the application made by the Company to acquire an exploration Licence in replacement of the exploration Licence formerly known as AR/MAY-CLK-ZOR/3886 and provides evidence of the application to withdraw.

Specific Actions. Without limiting clause 6.1, the Seller acknowledges the following required actions (and where necessary shall provide the appropriate funding to, or on behalf of, the Company or Petrogas to ensure that any necessary obligations can be met) and: (a) (application for production license – Petroleum Licence 3599) agrees to procure that the Company shall immediately take steps to establish commercial production on Petroleum Licence 3599 (which is due to expire on 21 August 2010) and the Company has prepared and submitted its application to convert the “Alpullu Discovery” to a production license. In addition, the Seller in coordination with the Buyer shall immediately commence planning and proceed with construction of a connection line from the “Alpullu” field to a market and shall permit the Buyer to review and comment on such plans and commitments prior to finalisation. Until the production license is rejected definitely by the GDPA or the production license is granted to the Company, the Buyer agrees to ensure that the Company shall continue production either by means of pipelines or in CNG form; provided the Seller indemnifies the Buyer for any Claims by third parties; Amity Oil Share Purchase Agreement (b) agrees to procure that Petrogas: (i) (regional drilling obligation – Petroleum Licences 4037, 4094 and 4532) shall take all necessary steps to prepare for drilling of a well by 30 July 2010 on Petrogas’s Petroleum Licences 4037, 4094 and 4532 (each of which has been granted a six month extension to 30 July 2010 under article 33 of the Petroleum Law of the Republic of Turkey) and shall provide all plans and applications in advance to the Buyer for comment and, where appropriate, for revision prior to implementation; (ii) (3D survey on Petroleum Licence 4037) complies with its obligations in respect of the 3D seismic survey on Petroleum Licence 4037 (including pursuant to the contract with Viking Geophysical Services Ltd STI dated 17 November 2009 as subsequently supplemented, amended or varied including by amendment dated 31 May 2010); (iii) (regional drilling obligation – Petroleum Licence 3864) shall provide evidence that a 6 month extension (under article 33 of the Petroleum Law of the Republic of Turkey) to 28 October 2010 has been granted in respect of Petrogas’s Petroleum Licence 3864; and (iv) (Petroleum Licence extension – Petroleum Licence 3864) shall provide to the Buyer the application for a two year extension of Petrogas Petroleum Licence 3864 (under article 55/2 of the Petroleum Law of the Republic of Turkey) which Petrogas has applied for prior to the date of this agreement; (c) agrees to provide to GDPA the requisite bank guarantee in respect of the extension referred to in clause 6.3(b)(iv) before Completion and as soon as possible after GDPA formally asks for it; (d) agrees that it will (and will procure that the Company and Petrogas) furnish promptly to the Buyer all correspondence to and from GDPA with regard to the Petroleum Licences in general (and, without limitation, the matters referred to in this clause 6.3); and (e) agrees that it will procure that the Company immediately applies to the GDPA to withdraw the application made by the Company to acquire an exploration Licence in replacement of the exploration Licence formerly known as AR/MAY-CLK-ZOR/3886 and provides evidence of the application to withdraw.