**Exhibit 4.1(b)**

**WAIVER AND CONSENT**

THIS WAIVER AND CONSENT is entered into this 11th day of October, 2007, by andbetween Enable Capital Management (“Enable”) and Star Energy corporation (“Star”). 

**WHEREAS**,Enable has entered into that certain Securities Purchase Agreement dated as of February 9, 2007 (the “Purchase Agreement”), by and among Star Energy Corporation (“Star”) and certain purchasers referencedtherein (each, a “Purchaser”, collectively, the “Purchasers”), such Purchasers being Enable and Wolverine Asset Management LLC, on its own behalf and on behalf of its affiliates, Wolverine Convertible Arbitrage FundTrading Ltd. and GPC LX LLC (collectively, “Wolverine”) (each of Star, Wolverine and Enable may hereafter be referred to as a “Party”, collectively, the “Parties”); 

**WHEREAS,** pursuant to the Purchase Agreement, the Parties entered into certain related documents, instruments, agreements and notes dated as ofFebruary 9, 2007, among them a Registration Rights Agreement, a Security Agreement, a Subsidiary Guarantee, a Warrant, and an 8% Secured Convertible Debenture (the “Debenture”) issued by Star to each of Wolverine and Enable(collectively, the “Convertible Debt Documents”); 

**WHERAS,** pursuant to the terms of the Registration RightsAgreement, Star was required to file a Registration Statement (as defined in the Registration Rights Agreement) by the earlier of April 15, 2007, of fifteen (15) calendar days following the date upon which Star filed its Form 10-KSB for the yearended December 31, 2006 (the “Filling Date”); 

**WHEREAS,** such Registration Statement not having been filed, an Event(as defined in Section 2(b)(i) of the Registration Rights Agreement) was triggered, which Event entitled each Purchaser to a penalty payment in the amount of 1.5% of the principal amount to which such Purchaser is entitled until registrationbecomes effective; 

**WHEREAS,** Section 4(1) of the Security Agreement and 7(b) of the Debenture prohibit Star from encumberingany Collateral (as defined in the Security Agreement), including but not limited to, by imposition of transfer restrictions over any such Collateral, without the prior written consent of a Majority in Interest (as defined in the Security Agreement)of the Purchasers; 

**WHEREAS,** any equity interests acquired by Star after February 9, 2007, including but not limited to, anyequity interests owned by Star in Bukovyna Oil and Gas Company, LLC (“Bukovyna LLC”), fall within the definition of Collateral for purposes of the Convertible Debt Documents; and 

**WHEREAS,** in order to consummate the acquisition of development rights over certain oil and gas fields situated in the Bukovyna region of Ukraine,Star is proposing to enter into a Loan 

Agreement by and among Star, Cosmonite Limited, and IFS International LLC (the “Loan Transaction”) pursuant to which Star would be precludedfrom treating any equity interests it owns in Bukovyna LLC as Collateral under the Convertible Debt Documents. 

**NOW, THEREFORE,** forgood and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, 

 
 1.Enable consents to the following: 
(a) the exclusion ofany current interests owned by Star in Bukovyna LLC from the definition of Collateral for purposes of the Convertible Debt Documents as at the closing of the Loan Transaction; 

(b) the waiver by Enable of any rights it may have to the adjustment of the Conversion Price pursuant to Section 5(b) of the Debenture and theExercise Price pursuant to Section 3(c) of the Warrant as a result of certain terms of the Loan Transaction, provided, however, that: (i) the Conversion Price set forth in the Debenture is herewith adjusted to $.75 per shareof Common Stock (as defined in the Securities Purchase Agreement) and (ii) the Exercise Price set forth in the Warrant is herewith adjusted to $.75. in each case for a period of three (3) years from the date hereof. 

(c) the waiver by Enable of its rights to the penalty payment referenced in the fourth recital hereto calculated at a rate of 1.5% of the principalamount to which Enable is entitled until registration and the substitution for such penalty payment of 100,000 shares of Common Stock; and 

(d) the waiver by Enable of any future late registration penalty payments that would otherwise apply, subject to Star’s undertaking to file the Registration Statement no later than six (6) calendar months from the date hereofusing its reasonable best efforts (the “Drop Dead Date”); provided, however, that the penalty provisions referenced in the fourth recital hereto shall be reinstated in the event of any failure to file the RegistrationStatement by the Drop Dead Date, subject to any such penalties being capped at 10% per annum based upon the principal amount due to Enable under the Debenture, calculated on the basis of a 360-day year consisting of twelve 30 calendar dayperiods, with the calculation of penalties payable on the outstanding principal balance commencing on the first day immediately following the Drop Dead Date and continuing to accrue until the day upon which the Registration Statement has been filed.

2. Star represents and warrants that, as at the date hereof, Star is the legal and beneficial owner of 70% of the equity interests inCosmonite Limited; provided, however, that Star’s equity interests in Cosmonite Limited could be reduced to 51% should IFS International LLC elect to increase its investment in Cosmonite Limited pursuant to the terms of the Loan Transaction.

3. Except as to matters set forth herein, the terms and conditions of all of the Convertible DebtDocuments remain in full force and effect. 

4. This Waiver and Consent is governed by the laws of the State of New York, notwithstandingits conflict of laws rules or any other principles that would trigger the application of any other law. 

**IN WITNESS WHEREOF,** each ofEnable and Star has caused this Waiver and Consent to be duly executed on the day and year first written above. 

 

**ENABLE CAPITAL MANAGEMENT LLC**

**On behalf of:**

**ENABLE GROWTH PARTNERS LP**

**ENABLE OPPORTUNITY PARTNERS LP**

**PIERCE DIVERSIFIED STRATEGY MASTER**

**FUND LLC, ena**
By: