Document:

First Amendment Deed dated March 30, 2007

 Exhibit 10.2 
 AMENDMENT DEED 
 DEED dated 30th March 2007 
 PARTIES 
  

	1.	SYNTROLEUM INTERNATIONAL CORPORATION incorporated and registered in the State of Delaware, United States of America with registration number 3100840 whose registered office
is at 4322 South 49th West Avenue, Tulsa, Oklahoma 74107; 

  

	2.	AFRICAN ENERGY EQUITY RESOURCES LIMITED incorporated and registered in England and Wales with company number 05724928 whose registered office is at 35 Portman Square, London,
W1H 6LR; 

  

	3.	ENERGY EQUITY RESOURCES (NORWAY) LIMITED incorporated and registered in England and Wales with company number 5216866 whose registered office is at 35 Portman Square, London,
W1H 6LR; and 

  

	4.	SYNTROLEUM CORPORATION incorporated and registered in the State of Delaware, United States of America with registration number 3034519 whose registered office is at 4322
South 49th West Avenue, Tulsa, Oklahoma 74107. 

 BACKGROUND 
  

	 A.
	 The parties have executed and created a share sale and purchase agreement dated 19th January 2007 (“Principal Agreement”). 

  

	B.	The parties by mutual agreement wish to amend the Principal Agreement upon and subject to the provisions of this Deed. 

 PROVISIONS 
 THIS DEED PROVIDES: 
  

	1.	INTERPRETATION 

  

	1.1	Definitions 

 Meanings apply to words and
expressions and capitalised terms used but not separately defined in this Deed as specified in clause 1.1 of the Principal Agreement, unless the context otherwise requires. 
  

	1.2	Interpretational Rules 

 Rules of interpretation
apply to this Deed as specified in clause 1.1 of the Principal Agreement and in this provision, unless the context otherwise requires: 
  

	 	(a)	any reference to a provision is a reference to a clause of, or schedule to, the Principal Agreement or this Deed including each subclause, paragraph and subparagraph of that
provision; and 

  

	 	(b)	the expression “business day” for the purposes of this Deed, means any day on which trading banks generally are open for business in the place of receipt of any
written notice, payment of any moneys or performance of any liability by any party contemplated or required under this Deed, excluding a Saturday, Sunday or public holiday in that place. 

  

	1.3	Performance 

 Any payment or action required to be
performed by a party under any provision of this Deed on or prior to a day which is not a business day must be paid or performed by the party on or prior to the immediately following business day. 
  

	2.	CONTRACT AMENDMENT 

 The Principal Agreement is
amended by the deletion of clause 3.2(a) and the substitution on lieu thereof of the following with effect on and from the date of signing and delivery of this Deed by the parties (the “Effective Date”): 
  

	 	“(a)	US$ 10,171,802 (ten million, one hundred and seventy one thousand, eight hundred and two), in clear funds and without any set-off or deductions: 

  

	 	(i)	as to US$2,000,000 (two million) within 2 (two) clear business days of the Effective Date; and 

  

	 	(ii)	as to US$8, 171,802 (eight million, one hundred and seventy one thousand, eight hundred and two) within 21 (twenty one) clear business days of the Effective Date.”

  

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	3.	CONTRACT CONFIRMATION 

 The Principal Agreement
continues in full force and effect upon and subject to its provisions, except to the extent amended by clause 2 of this Deed. 
  

	4.	OTHER PROVISIONS 

 The provisions of clauses 14 to
26 (both inclusive) of the Principal Agreement shall apply mutatis mutandis to this Deed. 
 EXECUTED as a deed. 
  

					
	SIGNED and DELIVERED	 	)	 	
	for and on behalf of SYNTROLEUM	 	)	 	
	INTERNATIONAL CORPORATION	 	)	 	
	by its corporate officers:	 	)	 	 /s/ Edward G. Roth
  

		 		 	Director
		 		 	Full Name: Edward G. Roth
			
		 		 	
		 		 	 /s/ Michael L. Covey Jr.
  

		 		 	Asst. Secretary
		 		 	Full Name: Michael L. Covey Jr.
			
	SIGNED and DELIVERED	 	)	 	
	for and on behalf of AFRICAN ENERGY	 	)	 	
	EQUITY RESOURCES LIMITED	 	)	 	 /s/ Dr. P. A. Vingoe
  

	by its corporate officers:	 	)	 	Director
		 		 	Full Name: Dr. P. A. Vingoe
		 		 	
			
		 		 	 /s/ O. Okhomina
  

		 		 	Director
		 		 	Full Name: Mr. O. Okhomina

  

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	SIGNED and DELIVERED	 	)	 	
	for and on behalf of ENERGY EQUITY	 	)	 	
	RESOURCES (NORWAY) LIMITED	 	)	 	
	by its corporate officers:	 	)	 	 /s/ Dr. P. A. Vingoe
  

		 		 	Director
		 		 	Full Name: Dr. P. A. Vingoe
			
		 		 	
		 		 	 /s/ Mr. O. Okhomina
  

		 		 	Director
		 		 	Full Name: Mr. O. Okhomina
			
	SIGNED and DELIVERED	 	)	 	
	for and on behalf of SYNTROLEUM	 	)	 	
	CORPORATION by its corporate officers:	 	)	 	 /s/ Edward G. Roth
  

		 		 	Director
		 		 	Full Name: Edward G. Roth
		 		 	
			
		 		 	 /s/ Michael L. Covey Jr.
  

		 		 	Asst. Secretary
		 		 	Full Name: Michael L. Covey Jr.

  

 4Termination Agreement dated as of March 29, 2007

 Exhibit 10.3 
 TERMINATION AGREEMENT 
 This TERMINATION AGREEMENT (this “Agreement”), dated as of the 29th
day of March, 2007 is between SYNTROLEUM INTERNATIONAL CORPORATION, a Delaware corporation (“Syntroleum”) and SOVEREIGN OIL & GAS COMPANY II, LLC, a Texas limited liability company (“Sovereign”).

 RECITALS 
 A. Syntroleum and Sovereign are parties to that certain Joint Development Agreement dated the
1st day of March, 2004, as amended by that certain Syntroleum-Sovereign Letter Agreement on OML 113 Lease effective
as of December 17, 2004 (the “JDA”). Defined terms used in this Agreement and not otherwise defined shall have the meanings given to them in the JDA. 
 B. By letter dated April 3, 2006, Syntroleum described the 2006-2007 budgets pursuant to the JDA (the “2006 Budget Letter”). 
 C. Pursuant to the JDA, Sovereign obtained, on behalf of Syntroleum, Contract Areas described in Schedule F of the JDA under the Field Names
“Aje” (the “Aje Field”) and “Ajapa” (the “Ajapa Field”). 
 D. Syntroleum Nigeria Limited, a company
existing under the laws of the Republic of Nigeria (“Syntroleum Nigeria”) was an Affiliate of Syntroleum prior to January 19, 2007. 
 E. To develop the Aje Field, Syntroleum Nigeria entered into a Participation Agreement for Oil Mining Lease 113, Federal Republic of Nigeria, with Yinka Folawiyo Petroleum Company Limited, Lundin Petroleum B.V., Palace Exploration Company,
Challenger Minerals Inc., Providence Resources P.L.C. and Howard Energy Co., Inc., dated as of January 12, 2005 (the “Aje Participation Agreement”). 
 F. Syntroleum presented Sovereign with notice of termination of the JDA dated November 15, 2006. 
 G.
The parties have agreed that certain terms of the JDA relating to termination of the JDA should be clarified to be consistent with the intent of the parties and the purposes of the JDA. 
 Accordingly, the parties agree as follows: 
 AGREEMENT 
 1. Termination. Except for Paragraph 3 hereof which shall expire on April 5, 2007, the JDA shall terminate effective March 31, 2007. 
  

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 2. JDA Section 6.1. Syntroleum and Sovereign agree, consistent with the terms of the Budget Letter, that any
and all unspent funds in the Escrow Account or distributed to Sovereign during the 2006-2007 budget year pursuant to the JDA (exclusive of the Multiplier, as defined in the Budget Letter), less any contingent liabilities Sovereign has incurred (such
as taxes and other levies or claims by third parties against Sovereign), shall be returned to Syntroleum by May 31, 2007. Sovereign will provide Syntroleum by April 30, 2007 a list of outstanding invoices or purchase orders as of March 31,
2007. 
 3. JDA Section 6.6. Except for any transaction consummated between Syntroleum and Energy Equity Resources Limited or its affiliates
prior to the date of this letter, Syntroleum agrees to provide to Sovereign warrants to purchase twenty-five thousand (25,000) shares of Syntroleum Common Stock, at the Exercise Price, in accordance with the terms of Section 6.6.2.1, upon
any acquisition by an Industry Partner of an interest of Syntroleum Nigeria Limited in the Aje Field pursuant to a commitment to purchase executed after the date of this letter and on or prior to April 5, 2007. 
 4. JDA Section 6.11. The parties agree that Sovereign Incentive Compensation earned under Section 6.6 of the JDA shall include all payments to be made
under, pursuant to or in lieu of compensation described in Schedule 4 of the Aje Participation Agreement, and that the provisions of the JDA relating to any such payments, as described in Section 6.11, shall survive termination of the JDA,
regardless of when such payments are received by Sovereign. 
 5. JDA Section 8.3. The parties agree as follows regarding the effect of
Section 8.3 of the JDA following termination: 
 (a) No Contract Area (except the Aje Field and the Ajapa Field) has been taken or is
under active negotiation by Syntroleum. Following termination, Sovereign shall be free to pursue and obtain interests in any Contract Area. 
 (b) Sovereign retains the rights to all electronic and hardcopy work product that it generated in the conduct of its work under the JDA, but Sovereign agrees to provide copies of such work product to Syntroleum prior to termination of the
JDA pursuant to Section 8.3. All Confidential Information provided to third parties by Syntroleum shall be subject to Article 12 of the JDA. 
 6.
Payments by Sovereign Pursuant to Sections 8.3 and 8.4. Syntroleum and Sovereign agree that Sovereign shall pay $50,000 for all equipment to be purchased pursuant to Section 8.4. 
 7. Transfers of Aje and Ajapa Interests. Syntroleum represents and warrants to Sovereign the following: 
  

	 	(a)	 that the executed letter from Syntroleum Nigeria Limited to Sovereign Oil & Gas Company II, LLC and Syntroleum International Corporation dated January 2007
was included on the disclosure schedule regarding existing agreements of Syntroleum Nigeria Limited when the interests of Syntroleum Nigeria Limited 

  

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were conveyed by Syntroleum to Energy Equity Resources (Norway) Limited and/or its subsidiaries or affiliates on or about January 19, 2007; and

  

	 	(b)	no transfers of interests of Syntroleum or any subsidiary or affiliate of Syntroleum in the Aje Field or the Ajapa Field occurred prior to January 19, 2007, except for the
following: 

  

	 	(i)	Syntroleum Nigeria Limited’s transfer of interests in the Aje Field to Lundin Nigeria Limited, Palace Exploration Nigeria Limited, Challenger Minerals (Nigeria) Limited, P.R.
Oil & Gas Nigeria Limited and Howard Energy Nigeria Limited; 

  

	 	(ii)	Syntroleum Nigeria Limited’s transfer of 50% of its participating interest in the Ajapa Field to Energy Equity Resources Oil & Gas Limited in July 2006. To the best of
Syntroleum’s knowledge, this transfer has yet to be approved by the applicable Nigerian authorities; and 

  

	 	(iii)	Syntroleum Nigeria Limited’s agreement to transfer a 3% participating interest in the Aje Field to Energy Equity Resources Oil & Gas Limited in August 2006. This
transfer was not effectuated once the Aje partner group elected not to drill the Aje-4 well in October 2006. Subsequently, Syntroleum Nigeria Limited orally offered the same terms to Energy Equity Resources Oil & Gas Limited if a new
industry partner was brought in to drill the Aje-4 well. 

  

	 	(c)	none of the transfers by Syntroleum or any subsidiary of affiliate of Syntroleum to Energy Equity Resources (Norway) Limited and/or its subsidiaries or affiliates described herein
materially affected, modified, amended or otherwise diminished the rights of Sovereign pursuant to the Aje Participation Agreement or any overriding royalty interest of Sovereign in the Aje Field or the Ajapa Field. 

 8. Waiver of Consent. Sovereign hereby waives its right to receive notice from Syntroleum and consent to any transfer of interest of Syntroleum Nigeria Limited in
either the Aje Field or the Ajapa Field to Energy Equity Resources (Norway) Limited and/or its subsidiaries or affiliates. 
 9. Survival; Assigns.
The terms of this Agreement shall survive termination of the JDA and shall inure to the benefit of and be binding on the successors and assigns of the parties hereto. 
 10. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Texas (without giving effect to the conflict of laws provisions thereof).

 11. Submission to Jurisdiction. Each party hereto submits to the nonexclusive jurisdiction of the federal and state courts located in Harris
County, Texas, for any action or proceeding relating 

  

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to this Agreement, and each party waives any objection which it may have based on improper venue or forum non conveniens to the conduct of any proceedings in
such courts. 
 12. Counterparts. This Agreement may be executed in counterparts which, taken together, shall constitute the entire agreement.

 Executed as of the date first written above. 
  

			
	SYNTROLEUM INTERNATIONAL CORPORATION
		
	By:	 	/s/ Richard L. Edmonson
	Name:	 	Richard L. Edmonson
	Title:	 	Vice President and General Counsel
		
		 	
	SOVEREIGN OIL & GAS COMPANY II, LLC
		
	By:	 	/s/ Joseph M. Bruso
	Name:	 	Joseph M. Bruso
	Title:	 	President

  

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