Royal Decree 42/94 Approving the Assignment by Conquest Exploration Oman Inc of Part of Its Stake in the Petroleum Agreement Dated 23 July 1989

We, Qaboos bin Said, the Sultan of Oman

after perusal of Royal Decree 26/75 Issuing the Law Governing the Administrative Apparatus of the State and its amendments,

Royal Decree 42/74 Issuing the Oil and Minerals Law,

Royal Decree 89/89 Approving the Petroleum Agreement Between the Government of the Sultanate and Conquest Exploration Oman Inc,

and the letter of the Minister of Oil and Minerals dated 1 November 1993 approving the assignment,

and in pursuance of public interest,

have decreed as follows

Article I

(a) The assignment by Conquest Exploration Oman Inc of 50% of its total rights and obligations in the petroleum agreement dated 23 July 1989 to Arakis Energy Corporation, which accepts this assignment, is hereby approved.

(b) The assignment by Conquest Exploration Oman Inc of 20% of its total rights and obligations in the petroleum agreement dated 23 July 1989 to Aegis Energy Inc, which accepts this assignment, is hereby approved.

Article II

With this assignment, the final shares of the parties to the mentioned petroleum agreement are as follows:

30% Conquest Exploration Oman Inc

50% Arakis Energy Corporation

20% Aegis Energy Inc

Article III

This decree must be published in the Official Gazette, and comes into force from the date of its issuance.

Issued on: 1 Dhu Al-Qa’dah 1414
Corresponding to: 12 April 1994

Qaboos bin Said
Sultan of Oman

Published in Official Gazette 525 issued on 16 April 1994.