0001062993-07-000799 Sample Contracts

CONSULTING AGREEMENT
Consulting Agreement • March 7th, 2007 • Arkanova Energy Corp • Gold and silver ores • British Columbia

ARKANOVA ENERGY CORPATION., a corporation formed pursuant to the laws of the State of Nevada and having an office for business located at 12880 Railway Avenue, Unit 35, Richmond British Columbia V7E 6G4

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OPTION AGREEMENT
Option Agreement • March 7th, 2007 • Arkanova Energy Corp • Gold and silver ores

THIS OPTION AGREEMENT (this “Agreement”) is made and entered into this 24th day of July, 2006 (the “Effective Date”), by and between David Griffin, an individual who is a resident of Phillips County, Arkansas (“Optionor”) and Arkanova Energy, Inc., a Delaware corporation (“Optionee”).

FINDER'S FEE AGREEMENT
S Fee Agreement • March 7th, 2007 • Arkanova Energy Corp • Gold and silver ores • British Columbia

This FINDER’S FEE AGREEMENT (the "Agreement") is made as of the 1st day of March, 2007 between ARKANOVA ENERGY CORPORATION (the "Company"), whose address is Suite 1650-200, Burrard Street, Vancouver, British Columbia, Canada V6C 3L6 and __________________________________________________ (the "Finder"), whose address is __________________________________________________________.

Contract
Agreement • March 7th, 2007 • Arkanova Energy Corp • Gold and silver ores • British Columbia

THIS AGREEMENT RELATES TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT").

ARKANOVA ENERGY, INC. 8150 NORTH CENTRAL EXPRESSWAY SUITE 1800 DALLAS, TEXAS 75206 July 24, 2006
Arkanova Energy Corp • March 7th, 2007 • Gold and silver ores • Texas

This letter (herein called the “Agreement”) constitutes the agreement between Arkanova Energy, Inc., a Delaware corporation (“AEI”), and David Griffin, an individual who is a resident of Phillips County, Arkansas (“Griffin”), concerning the acqusition by AEI from Griffin of oil and gas leases covering lands and minerals located in Phillips, Monroe and Desha Counties, Arkansas, and the development of the lands and minerals covered by said leases. The principal terms of the Agreement are as follows:

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