Oejour Energy (USA) Corp. | |
a subsidiary of Oejour Energy Inc. | |
1401 1ihSt., Ste. 850 | |
Denver, CO 80202 | |
P: (303) 296-3535 | |
F: (303) 296-3888 |
September 10,2013
Randall Kenworthy
Bakken Drilling Fund III Manager LLC
5251 DTC Parkway, Suite 200
Denver, CO 80111
Re: | Second Amendment to Operating Agreement dated December 31, 2012 by and between Dejour Energy (USA) Corp. and Bakken Drilling Fund III, L.P.; Garfield County, Colorado |
Dear Mr. Kenworthy:
Dejour Energy (USA) Corp. ("Dejour") and Bakken Drilling Fund III, L.P. ("Bakken") are parties to that certain Operating Agreement dated December 31, 2012, as amended by the Amendment to Operating Agreement dated March 6, 2013 (the"lOA").The parties hereby agree to further amend thelOAas follows:
1. Article XVI.B(i) of thelOAis amended by deleting "$6,500,000" in the first line thereof and replacing it with "$7,000,000".
2. Article XVI.C(iii) of thelOAis amended by deleting "$15,000,000" in the second line thereof and replacing it with "$15,500,000".
3. Article XVI.F. is amended by, in the first line thereof, deleting "125%" and replacing it with "150%".
4. Exhibit "A" to thelOAis amended by deleting Paragraph (3) III its entirety and replacing it with the following:
(3) Percentages of Working Interest of the Parties:
Party | Percentage Interest | |
Dejour Energy (USA) Corp. | 22.229% | |
Bakken Drilling Fund III, LP | 77.771% |
5. All other provisions of thelOAremain unchanged and in full force and effect.
This letter may be executed in any number of counterparts, each of which when so executed shall constitute in the aggregate but one and the same document. Copies or facsimiles of signatures to this letter have the same effect as if the signatures were placed on the originals and shall be deemed to be fully executed by each signatory.
If you are in agreement with the above amendments to thelOA,please so indicate by signing in the space provided on the next page and returning an executed, notarized copy to Dejour.
Very Truly Yours,
DElOUR ENERGY (USA) CORP.
Harrison F. Blacker, President |
STATE OF COLORADO | § | |
§ | ||
CITY AND COUNTY OF DENVER | § |
This instrument was acknowledged before me this10th day of September. 2013 by Harrison F. Blacker, as President of Dejour Energy (USA) Corp.
WITNESS my hand and official seal.
Notary Public, State of Colorado |
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