**Zulu      Energy Corp.**

**122      N. Main Street**

**Sheridan,      Wyoming 82801**

**Telephone:      (307) 751-5517**

| To: | Swansi                Holdings Corp. (**“Swansi”**),                which is to receive warrants (the **“Warrants”**)                to purchase shares of common stock (the **“Common                Stock”**)                of Zulu Energy Corp. (the **“Company”**) |
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**“Financing”**
**“Exploration      Operations”**

**“Articles”**

**“Agreement”**
**“Stock      Purchase Agreement”**

| 1. | Waiver                and Agreement.                Swansi hereby consents and agrees that the Warrants it will receive                following the First Private Placement will not be exercisable until                such                time as the Company has amended its Articles to increase its authorized                shares of Common Stock to at least 150,000,000                shares. |
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| 2. | Governing                Law.                THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH                THE                INTERNAL LAWS AND DECISIONS OF THE STATE OF COLORADO, WITHOUT REGARD                TO                THE CONFLICT OF LAWS PROVISIONS                THEREOF. |
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| 3. | Captions.                Section captions and headings used in this Agreement are for convenience                only, and shall not affect the construction of this                Agreement. |
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| 4. | Severability.                Whenever possible, each provision of this Agreement shall be interpreted                in such manner as to be effective and valid under applicable law,                but if                any provision of this Agreement shall be prohibited by or invalid                under                such law, such provision shall be ineffective to the extent of such                prohibition or invalidity, without invalidating the remainder of                such                provision or the remaining provisions of this                Agreement. |
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| 5. | Counterparts                and Execution of Agreement.                This Agreement may be executed in any number of counterparts and                by the                different parties hereto on separate counterparts, and each such                counterpart shall be deemed to be an original, but all such counterparts                shall together constitute one and the same agreement. The exchange                of                copies of this Agreement and of signature pages by facsimile transmission                shall constitute effective execution and delivery of this Agreement                as to                the parties and may be used in lieu of the original Agreement for                all                purposes. Signatures of the parties transmitted by facsimile shall                be                deemed to be their original signatures of all                purposes. |
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| 6. | Successors                and Assigns.                This Agreement shall be binding upon the parties hereto and their                respective successors and assigns, and shall inure to the benefit                of such                parties and their respective successors and                assigns. |
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| 7. | Enforceability.                The parties further acknowledge and agree that the enforceability                of this                Agreement as it pertains to Swansi shall not be dependent upon obtaining                an executed Agreement from any other holder of the Company’s securities. |
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| 8. | Full                Force and Effect.                Except as specifically stated in this Agreement (i) this Agreement                shall not limit, diminish or waive the obligations of the parties                under                the Warrants to be issued following the First Private Placement,                and (ii)                the parties reaffirm their obligations under Stock Purchase Agreement                concerning the Warrants. |
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| 9. | Information.                Swansi acknowledges that it has all information needed to enter into                the                agreements and provide the consent and make the waivers contemplated                by                this Agreement and if it has requested any information from the Company                it                acknowledges receiving the same. |
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**ZULU      ENERGY CORP.**

| By:    |                                      |
|--------|-------------------------------------------|
|   | James                  Hostetler          |
|   | Executive                  Vice President |

**SWANSI        HOLDINGS CORP.**

| By                  (Signature): |   |
|----------------------------------|--------|
| Name                  (Printed): |   |
| Title:                           |   |

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