Document:

STOCK PURCHASE
AGREEMENT

 

THIS STOCK PURCHASE AGREEMENT (this “Agreement”)
is dated as of September , 2012 by and between Loton, Corp., a Nevada corporation (the “Company”), and (the
“Investor”).

 

WHEREAS, the Company desires to issue and
sell to the Investor, and the Investor desires to purchase from the Company, 150,000 shares of Common Stock of the Company (the
“Shares”), subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(2) of the
Securities Act, and Rule 506 promulgated thereunder.

 

NOW, THEREFORE, IN CONSIDERATION of the
mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the Company and the Investor agree as follows:

 

Article
I

DEFINITIONS

 

1.1             
Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings
indicated in this Section 1.1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 144 promulgated under the Securities Act.

 

“Business Day”
means any day other than Saturday, Sunday and any day that is a legal holiday or a day on which the New York Stock Exchange or
commercial banks located in Los Angeles, California are permitted or required by law to close.

 

“Closing”
means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 

“Closing Date”
means a Business Day when all conditions precedent to the Investor’s obligation to pay the Subscription Amount for the Shares
have been satisfied or waived.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended.

 

“Governing Documents”
means the Company’s Articles of Incorporation and bylaws, in each case as amended from time to time.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

    	1

    	 

    

 

Article
II

PURCHASE AND SALE

 

2.1             
Closing. Upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Investor
agrees to purchase, the Shares at a purchase price of One Dollar ($1) per Share. The aggregate purchase price for the Shares shall
be One Hundred Fifty Thousand Dollars ($150,000) (the “Subscription Amount”).

 

2.2             
Conditions to the Closing. The Closing shall be subject to the following conditions and deliveries:

 

(a)               
At the Closing, the Company shall deliver or cause to be delivered to the Investor:

 

(i)                
this Agreement, duly executed by the Company; and

 

(ii)              
a certificate evidencing the Shares issued in the name of the

 

(b)              
At the Closing, the Investor shall deliver or cause to be delivered to the

 

(i)                
the Subscription Amount; and

 

(ii)              
this Agreement, duly executed by the Investor.

 

(c)               
The obligations of the Investor to consummate the transactions to be effected at the Closing and to pay the Subscription
Amount are subject to the fulfillment or waiver, at or before the Closing, of each of the conditions set forth below:

 

(i)                
the Company shall have authorized the issuance of the Shares;

 

(ii)              
all of the representations and warranties made by the Company in this Agreement shall be accurate in all material respects
as of the Closing Date, and all covenants made by the Company and obligations of the Company shall have been performed and complied
with in all material respects as of the Closing Date; and

 

(iii)            
there shall not be any existing or, to the Company’s knowledge, threatened action, proceeding or order, nor any other
material adverse change or event, involving the Company or the Investor and which, in the reasonable opinion of the Investor, may
have the effect of preventing, limiting or delaying the transactions contemplated under this Agreement.

 

(d)              
The obligations of the Company to consummate the transactions to be effected at the Closing and to issue the Shares are
subject to the fulfillment or waiver, at or before the Closing, of each of the conditions set forth below:

 

(i)                
all of the representations and warranties made by the Investor in this Agreement, shall be accurate in all material respects
as of the Closing Date, and all covenants made by the Investor and obligations of the Investor shall have been performed and complied
with in all material respects as of the Closing Date; and

 

    	2

    	 

    

 

(ii)              
there shall not be any existing or threatened action, proceeding or order, nor any other material adverse change or event,
involving the Company or the Investor and which, in the reasonable opinion of the Company, may have the effect of preventing, limiting
or delaying the transactions contemplated under this Agreement.

 

Article
III

REPRESENTATIONS AND WARRANTIES

 

3.1             
Representations and Warranties of the Company. The Company hereby makes the representations and warranties set forth
below to the Investor.

 

(a)               
Organization and Qualification. The Company is duly incorporated, validly existing and in good standing under the
laws of the State of Nevada, with the requisite power and authority to own and use its properties and assets and to carry on its
business as currently conducted. The Company is not in violation of any of the provisions of its Governing Documents. The Company
is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction in which the nature of the
business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in
good standing, as the case may be, could not, individually or in the aggregate: (i) adversely affect the legality, validity or
enforceability of this Agreement, (ii) have or result in or be reasonably likely to have or result in a material adverse effect
on the results of operations, assets, prospects, business or condition (financial or otherwise) of the Company taken as a whole,
or (iii) adversely impair the Company’s ability to perform fully on a timely basis its obligations under any of this Agreement.

 

(b)              
Authorization; Enforcement. The Company has the requisite power and authority to enter into and to consummate the
transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of
this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all
necessary action on the part of the Company and no further consent or action is required by the Company or its shareholders. This
Agreement has been duly executed by the Company and constitutes a valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and similar laws affecting creditors’ rights and remedies generally and general principles of equity.

 

(c)               
Capitalization of the Company. As of the date of this Agreement, the entire authorized capital stock of the Company
consists of 75,000,000 shares of Common Stock, par value $0.001 per share, of which 5,370,000 shares are issued and outstanding,
and no shares of preferred stock. As of the date of this Agreement and on the date of the Closing, there are no outstanding options,
warrants, subscriptions, conversion rights, or other rights, agreements, or commitments obligating the Company to issue any additional
capital stock or any other securities convertible into, exchangeable for, or evidencing the right to subscribe for or acquire from
the Company any capital stock or other securities of the Company. Except as set forth in this Agreement and except as required
by applicable law, there are no agreements purporting to restrict the transfer of the Common Stock, no voting agreements, stockholders’
agreements, voting trusts, or other arrangements restricting or affecting the voting of the Common Stock.

 

    	3

    	 

    

 

(d)              
Issuance of Shares. The issuance of the Shares is duly authorized and is free from all taxes, pre-emptive rights,
liens and charges with respect to the issue thereof. Upon issuance, the Shares will be validly issued, fully paid and nonassessable
and free from all preemptive or similar rights, taxes, liens and charges with respect to the issue thereof, with the holders being
entitled to all rights, privileges and preferences as set forth in the Governing Documents in force as of the Closing Date. Assuming
the accuracy of each of the representations and warranties set forth in Section 3.2 of this Agreement, the offer and issuance
by the Company of the Shares is exempt from registration under the Securities Act.

 

(e)               
No General Solicitation. Neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf,
including, without limitation, any Person related to the Investor, has engaged in any form of general solicitation or general advertising
(within the meaning of Regulation D promulgated under the Securities Act) in connection with the offer or sale of the Shares.

 

(f)               
No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the
Company of the transactions contemplated thereby do not and will not: (i) conflict with or violate any provision of the Company’s
Governing Documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would
become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation (with or without
notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company debt or otherwise)
or other understanding to which the Company is a party or by which any property or asset of the Company is bound or affected, or
(iii) result, in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court
or governmental authority to which the Company is subject (including federal and state securities laws and regulations), or by
which any property or asset of the Company is bound or affected; except in the case of each of clauses (ii) and (iii), such as
could not, individually or in the aggregate, have or result in a material adverse effect on the Company.

 

(g)              
Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other person with respect to the transactions
contemplated by this Agreement. The Investor shall have no obligation with respect to any fees or with respect to any claims made
by or on behalf of other persons for fees of a type contemplated by this Section 3.1(g) that may be due in connection with
the transactions contemplated by this Agreement.

 

3.2             
Representations and Warranties of the Investor. The Investor hereby makes the representations and warranties set
forth below to the Company.

 

(a)               
No Registration. The Investor understands that the Shares have not been, and will not be, registered under the Securities
Act by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends
upon, among other things, the bona fide nature of the investment intent and the accuracy of the Investor’s representations
as expressed herein or otherwise made pursuant hereto.

 

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(b)              
Investment Intent. The Investor is acquiring the Shares for investment for its own account, not as a nominee or agent,
and not with the view to, or for resale in connection with, any distribution thereof, and the Investor has no present intention
of selling, granting any participation in, or otherwise distributing the same. The Investor further represents that it does not
have any contract, undertaking, agreement or arrangement with any person or entity to sell, transfer or grant participation to
such person or entity or to any third person or entity with respect to any of the Shares.

 

(c)               
Investment Experience. The Investor has substantial experience in evaluating and investing in private placement transactions
of securities in companies similar to the Company and acknowledges that the Investor can protect its own interests. The Investor
has such knowledge and experience in financial and business matters so that the Investor is capable of evaluating the merits and
risks of its investment in the Company.

 

(d)              
Speculative Nature of Investment. The Investor understands and acknowledges that the Company has a limited financial
and operating history and that an investment in the Company is highly speculative and involves substantial risks. The Investor
can bear the economic risk of the Investor’s investment and is able, without impairing the Investor’s financial condition,
to hold the Shares for an indefinite period of time and to suffer a complete loss of the Investor’s investment.

 

(e)               
Access to Data. The Investor has had an opportunity to ask questions of, and receive answers from, the officers of
the Company concerning this Agreement, and schedule attached hereto and the transactions contemplated by this Agreement, as well
as the Company’s business, management and financial affairs, which questions were answered to its satisfaction. The Investor
believes that it has received all the information the Investor considers necessary or appropriate for deciding whether to purchase
the Shares. The Investor understands that such discussions, as well as any information issued by the Company, were intended to
describe certain aspects of the Company’s business and prospects, but were not necessarily a thorough or exhaustive description.
The Investor acknowledges that any business plans prepared by the Company have been, and continue to be, subject to change and
that any projections included in such business plans or otherwise are necessarily speculative in nature, and it can be expected
that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results.
The Investor has reviewed the “Description of Business” set forth on Schedule 1 to this Agreement. The Investor
also acknowledges that it is not relying on any statements or representations of the Company or its agents for legal advice with
respect to this investment or the transactions contemplated by the Agreements.

 

(f)               
Accredited Investor. The Investor is an “accredited investor” within the meaning of Regulation D, Rule
501(a), promulgated by the Securities and Exchange Commission (“SEC”) under the Securities Act and shall submit
to the Company such further assurances of such status as may be reasonably requested by the Company.

 

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(g)              
Residency. The residency of the Investor is correctly set forth on the signature page to this Agreement.

 

(h)              
Rule 144. The Investor acknowledges that the Shares must be held indefinitely unless subsequently registered under
the Securities Act or an exemption from such registration is available. The Investor is aware of the provisions of Rule 144 promulgated
under the Securities Act which permit limited resale of shares purchased in a private placement subject to the satisfaction of
certain conditions. The Investor acknowledges that, in the event all of the requirements of Rule 144 are not met, registration
under the Securities Act or an exemption from registration will be required for any disposition of the Shares or the underlying
Common Stock. The Investor understands that, although Rule 144 is not exclusive, the SEC has expressed its opinion that persons
proposing to sell restricted securities received in a private offering other than in a registered offering or pursuant to Rule
144 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or
sales and that such persons and the brokers who participate in the transactions do so at their own risk.

 

(i)                
No Public Market. The Investor understands and acknowledges that no public market now exists for any of the securities
issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company’s
securities.

 

(j)                
Authorization.

 

(i)                
The Investor has all requisite power and authority to execute and deliver this Agreement, to purchase the Shares hereunder
and to carry out and perform its obligations under the terms of this Agreement. All action on the part of the Investor necessary
for the authorization, execution, delivery and performance of this Agreement, and the performance of all of the Investor’s
obligations under this Agreement, has been taken or will be taken prior to the Closing.

 

(ii)              
This Agreement, when executed and delivered by the Investor, will constitute valid and legally binding obligations of the
Investor, enforceable in accordance with its terms except: (i) as limited by applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally, and (ii) as limited
by laws relating to the availability of specific performance, injunctive relief or other equitable remedies or by general principles
of equity.

 

(iii)            
No consent, approval, authorization, order, filing, registration or qualification of or with any court, governmental authority
or third person is required to be obtained by the Investor in connection with the execution and delivery of this Agreement by the
Investor or the performance of the Investor’s obligations hereunder.

 

(k)              
Brokers or Finders. The Investor has not engaged any brokers, finders or agents, and the Company has not, nor will,
incur, directly or indirectly, as a result of any action taken by the Investor, any liability for brokerage or finders’ fees
or agents’ commissions or any similar charges in connection with this Agreement.

 

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(l)                
Tax Advisors. The Investor has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax
consequences of this investment and the transactions contemplated by this Agreement. With respect to such matters, the Investor
relies solely on such advisors and not on any statements or representations of the Company or any of its agents, written or oral.
The Investor understands that it (and not the Company) shall be responsible for its own tax liability that may arise as a result
of this investment or the transactions contemplated by this Agreement.

 

(m)            
Legends. The Investor understands and agrees that the certificate evidencing the Shares, or any other securities
issued in respect of the Shares upon any stock split, stock dividend, recapitalization, merger, consolidation or similar event,
shall bear the following legend (in addition to any legend required by applicable state securities laws):

 

“THE SHARES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE, AND MAY
NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SUCH ACT AND/OR APPLICABLE STATE
SECURITIES LAWS, OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY
AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.”

 

Article
IV

MISCELLANEOUS

 

4.1             
Entire Agreement. This Agreement, together with the schedule, contains the entire understanding of the parties with
respect to the subject matter hereof and supersedes all prior agreements and understandings, oral or written, with respect to such
matters, which the parties acknowledge have been merged into such document.

 

4.2             
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or
communication is delivered via facsimile or email (if designated) prior to 5:00 p.m. (Los Angeles, CA time) on a Business Day with
electronic confirmation of delivery, (b) the next Business Day after the date of transmission, if such notice or communication
is delivered via facsimile or email (if designated) on a day that is not a Business Day or later than 5:00 p.m. (Los Angeles, California
local time) on any Business Day, (c) one Business Day following the date of overnight delivery, if sent by U.S. nationally recognized
overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given (or actual delivery
to such person’s address of record). The addresses for such notices and communications are those set forth on the signature
pages hereof, or such other address as may be designated in writing hereafter, in the same manner, by such Person.

 

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4.3             
Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed,
in the case of an amendment, by the Company and the Investor, or, in the case of a waiver, by the party against whom enforcement
of any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement
shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision,
condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner
impair the exercise of any such right.

 

4.4             
Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not
be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language
chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party.

 

4.5             
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns.

 

4.6             
No Third-Party Beneficiaries. This Agreement is intended solely for the benefit of the parties hereto and their respective
successors and permitted assigns.

 

4.7             
Governing Law; Venue; Waiver of Jury Trial. All questions concerning the construction, validity, enforcement and
interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State
of California, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning
the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party
hereto or its respective affiliates, directors, officers, stockholders, employees or agents) shall be commenced exclusively in
the state and Federal courts sitting in Los Angeles, California. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in Los Angeles, California for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of this Agreement),
and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or inconvenient venue for such
proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit,
action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good
and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to
serve process in any manner permitted by law. The parties hereby waive all rights to a trial by jury. If any party shall commence
an action or proceeding to enforce any provisions of this Agreement, then the prevailing party in such action or proceeding shall
be reimbursed by the other party for its attorneys’ fees and other costs and expenses incurred with the investigation, preparation
and prosecution of such action or proceeding.

 

4.8              Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Shares for the
applicable statute of limitations. The covenants shall survive the Closing and the delivery of the Shares until they are
performed or satisfied in full.

 

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4.9             
Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party, it being understood that all parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile or electronic transmission (such as email or PDF), such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) such document with the same force and effect as if such
facsimile signature page were an original thereof.

 

4.10         
Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity
and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby
and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon
so agreeing, shall incorporate such substitute provision in this Agreement.

 

4.11         
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery
of damages, the Investor and the Company will be entitled to specific performance under this Agreement. The parties agree that
monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the
foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the defense that a
remedy at law would be adequate.

 

4.12         
Fees and Expenses. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts,
if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance
of this Agreement.

 

* * * * *

 

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IN WITNESS WHEREOF, the undersigned has
caused this Agreement to be duly executed by its authorized signatory as of the date first set forth above.

 

	 	 	LOTON, CORP.
	 	 	 
	 	 	 
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	Address:	 
	 	 	 	 
	 	 	 	 
	 	 	INVESTOR 
	 	 	 
	 	 	 
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	Address:	 

 

 

 

[Signature Page to Stock Purchase Agreement]EXHIBIT
4.1

 

SUBSCRIPTION FOR UNITS

 

(Section
2.3 Accredited Investor Exemption Pursuant to “National Instrument 45-106 – Prospectus and
Registration Exemptions” –

Alberta and
British Columbia Jurisdictions Only)

 

	TO:	Deep Well Oil & Gas, Inc. (the "Corporation")
	 	Suite 700, 10150 – 100 Street
	 	Edmonton, Alberta  T5J 0P6

 

The undersigned subscriber (the “Subscriber”)
acknowledges that the Corporation is proceeding with an offering (“Offering”) of l
units (“Units”) at a price of US$0.07 per Unit for gross proceeds of US$ l.
Each Unit is comprised of one (1) common share (“Common Share”) and one (1) Common Share purchase warrant (“Whole
Warrant”). Each Whole Warrant entitles the holder to purchase one (1) Common Share at a price of US$0.105 for a period of
three (3) years from the Closing Date, provided that if the closing price of the Common Shares of the Corporation on the principal
market on which such shares trade is equal to or exceeds US$1.00 for thirty (30) consecutive trading days, the Warrant Term shall
automatically accelerate to the date which is thirty (30) calendar days following the date that written notice has been given to
the warrantholder. The undersigned Subscriber hereby tenders to the Corporation this subscription offer which, upon acceptance
by the Corporation, will constitute an agreement of the Subscriber to subscribe for, take up, purchase and pay for and, on the
part of the Corporation, to issue and sell to the Subscriber, the number of Units set out below on the terms and subject to the
conditions set out in this Subscription Agreement. Until the Closing of the Offering, all subscription funds shall be held in a
non-interest bearing account of the Corporation. Upon Closing of the Offering, all of the subscription proceeds (net of expenses
thereon) will be released to the Corporation. In the event the Offering does not close, any and all subscription proceeds will
be returned to subscribers without interest, deduction or penalty. The Subscriber hereby acknowledges and agrees that the terms
and conditions contained in the attached Schedule “A” form part of this Subscription Agreement and are incorporated
herein by reference.

 

	 	 	 	 	Number of Units:	 
	 	Name of Subscriber – please print	 	 	 	 
	 	 	 	 	 	 
	 	By:	 	 	 	 	 
	 	 	Authorized Signature	 	 	Aggregate Subscription Price (No. of Units X US$0.07 per Unit):	 
	 	 	 	 	 	 
	 	Official Capacity or Title – please print	 	 	 	 
	 	 	 	 	 	 
	 	Date:	 	 	 	 	 
	 	 	 	 	 	No. of Common Shares Currently Held (excluding Common Shares
    comprising the Units subscribed for herein, not including warrants or vested stock options):	 
	 	 	 	 	 	 
	 	(Please print name of individual whose signature appears above if different than the name of the Subscriber printed above.)	 	 	 	 
	 	 	 	 	Register the Units as set forth below:	 
	 	Subscriber's Address	 	 	 	 
	 	 	 	 	Name	 
	 	 	 	 	 	 
	 	 	 	 	Address	 
	 	Facsimile Number	 	 	 	 
	 	 	 	 	Address	 
	 	Telephone Number	E-Mail Address	 	 	 	 
	 	 	 	 	 	 	 	 

 

ACCEPTANCE: The Corporation hereby
accepts the above subscription as of this l day of l,
2012 and the Corporation represents and warrants to the Subscriber that the representations and warranties made by the Corporation
are true and correct in all material respects as in all material respects as of this date and that the Subscriber is entitled to
rely thereon.

 

	 	DEEP WELL OIL & GAS, INC.
	 	 
	 	By:	 

 

This is the first page of an agreement
comprised of 9 pages (not including Exhibits).

 

    	 

    	 	

    
 

SCHEDULE “A” -TERMS AND CONDITIONS
OF SUBSCRIPTION FOR

UNITS OF DEEP WELL OIL & GAS, INC.

 

Definitions

 

In this
Subscription Agreement:

 

		(a)	“Closing” or “Closing Date”
means the closing of the Offering initially expected to occur on or about l, 2012 or
such other date or dates as may be determined by the Corporation in its sole discretion and such other subsequent closings as may
be required to complete the Offering;

 

		(b)	“Common Share”
means a common share in the capital stock of the Corporation;

 

		(c)	“Corporation”
means Deep Well Oil & Gas, Inc.;

 

		(d)	“MI 51-105”
means Multilateral Instrument 51-105 – Issuers Quoted in the U.S. Over-The-Counter Markets;

 

		(e)	“NI 45-102” means
National Instrument 45-102 - Resale of Securities;

 

		(f)	“NI 45-106” means
National Instrument 45-106 - Prospectus and Registration Exemptions;

 

		(g)	“Offering”
means the offering of Units by the Corporation at US$0.07 per Unit;

 

		(h)	“Prior Share Issuance Reservations”
means all previously reserved share issuances including the ten percent (10%) of the issued and outstanding share capital which
may be granted as options pursuant to the Corporation’s stock option plan.

 

		(i)	“Securities”
means the Units, the Common Shares and the Whole Warrants comprising the Units, and the Warrant Shares;

 

		(j)	“Subscriber”
means the person or company identified as the Subscriber on the face page of this Subscription Agreement;

 

		(k)	“Subscription Agreement”
means this agreement, together with the exhibits attached hereto, as amended or supplemented from time to time;

 

		(l)	“Subscription Price”
means the aggregate subscription price paid by the Subscriber, being the number of Units subscribed for multiplied by US$0.07 per
Unit;

 

		(m)	“Unit” means
a unit consisting of one (1) Common Share and one (1) Whole Warrant;

 

		(n)	“United States”
means the United States of America, its territories and possessions, any state of the United States, and the District of Columbia;

 

		(o)	“U.S. Person”
means “U.S. person” as that term is defined in Regulation S under the U.S. Securities Act;

 

		(p)	“U.S. Securities Act”
means the United States Securities Act of 1933, as amended;

 

		(q)	“Warrant Share”
means a Common Share issuable upon exercise of a Whole Warrant;

 

		(r)	“Warrant Term” means the period commencing at Closing
and continuing until 4:30 p.m. (Edmonton time) on the date which is three (3) years following the Closing Date (or, if such date
is not a business day, on the first business day which is at least three (3) years following the Closing Date), subject to amendments
to the expiry provisions in accordance with paragraphs 6 and 14; and

 

    	 

    	 	

    
 

		(s)	“Whole Warrant”
means one (1) Common Share purchase warrant of the Corporation entitling the holder to purchase one (1) Common Share of the Corporation
at a price of US$0.105 for a period of three (3) years from the Closing Date.

 

Terms of the Offering

 

1.The Subscriber
hereby confirms its subscription for and agrees to take up the Units as provided for on the initial page of this Subscription Agreement
and delivers herewith a certified cheque, wire transfer or bank draft payable to the Corporation in the amount of the Subscription
Price and authorizes the Corporation to release the said funds for use by the Corporation on Closing against delivery to the Subscriber
of duly issued certificates representing the Common Shares and Whole Warrants comprising the Units subscribed for herein.

 

2.The Subscriber
acknowledges that the Units subscribed for hereunder consist of a sale by the Corporation of l
Units of the Corporation at a subscription price of US$0.07 per Unit.

 

3.The Corporation
hereby agrees to use the net proceeds from the Offering of this Subscription Agreement for the following purposes or as determined
by the Corporation’s executive committee:

 

		(a)	l;

 

		(b)	l;

 

		(c)	l.

 

4.The Subscriber
acknowledges that if the Offering does not close on any subscriptions received, the amounts received for subscriptions will be
promptly returned by the Corporation to subscribers without interest, deduction or penalty. The Units offered are subject to acceptance
by the Corporation and to rejection or allotment by the Corporation in whole or in part and the Corporation reserves the right
to discontinue the Offering at any time without notice.

 

5.The
Subscriber acknowledges that this Subscription Agreement and the Exhibits hereto require the Subscriber to provide certain
personal information to the Corporation. Such information is being collected by the Corporation for the purposes of
completing the Offering, which includes, without limitation, determining the Subscriber's eligibility to purchase the Units
under applicable securities legislation, preparing and registering certificates representing Units to be issued to the
Subscriber and completing filings required by any stock exchange or securities regulatory authority. The Subscriber's
personal information may be disclosed by the Corporation to: (a) stock exchanges or securities regulatory authorities,
(b) the Corporation's registrar and transfer agent, and (c) any of the other parties involved in the Offering,
including legal counsel, and may be included in record books in connection with the Offering. By executing this Subscription
Agreement, the Subscriber is deemed to be consenting to the foregoing collection, use and disclosure of the Subscriber's
personal information. The Subscriber also consents to the filing of copies or originals of any of the Subscriber's documents
described in Section 16 hereof as may be required to be filed with any stock exchange or securities regulatory authority
in connection with the transactions contemplated hereby.

 

6.The Subscriber
acknowledges that the issuance of the Warrant Shares are subject to Prior Share Issuance Reservations, including the number of
Common Shares available to be granted pursuant to the Corporation’s stock option plan equal to ten percent (10%) of the Corporation’s
issued and outstanding Common Shares, such that in the event the issuance of the Warrant Shares exceeds the Corporation’s
then authorized share capital, taking into consideration all of the Prior Share Issuance Reservations, the Whole Warrant shall
not be exercisable until such time as the authorized share capital of the Corporation has been sufficiently increased to accommodate
for the exercise of the Whole Warrant. The period of time during which the Whole Warrant cannot be exercised by the warrantholder
shall automatically be extended to the Warrant Term.

 

7.THE SUBSCRIBER
FURTHER ACKNOWLEDGES THAT AN INVESTMENT IN THE UNITS MUST BE CONSIDERED SPECULATIVE AND IS SUBJECT TO A NUMBER OF RISK FACTORS.
THE SUBSCRIBER COVENANTS AND AGREES TO COMPLY WITH MI 51-105, NI 45-106, NI 45-102 AND ANY OTHER APPLICABLE SECURITIES LEGISLATION,
RULES, REGULATIONS, ORDERS OR POLICIES CONCERNING THE PURCHASE, HOLDING OF, AND RESALE OF THE SECURITIES. THE SECURITIES ARE SUBJECT
TO RESALE RESTRICTIONS AND WILL BEAR A LEGEND TO THAT EFFECT.

 

    	2

    	 

    
 

8.In addition to
one manually signed, completed copy of this Subscription Agreement, the Subscriber will execute and deliver to the Corporation
all other documentation as may be required by applicable securities legislation, rules, policy statements, and orders, including
NI 45-106, to permit the issue and sale of the Units. The Subscriber acknowledges and agrees that any such documentation,
when executed and delivered by the Subscriber, will form part of and will be incorporated into this Subscription Agreement with
the same effect as if each constituted a representation and warranty or covenant of the Subscriber hereunder in favour of the Corporation,
and the Subscriber consents to the filing of such documents and/or information contained in such documents as may be required to
be filed with any securities or the regulatory authority in connection with the transactions contemplated hereby.

 

Representations, Warranties and Covenants
by Subscriber

 

9.The Subscriber
represents, warrants and covenants to the Corporation (and acknowledges that the Corporation and its counsel are relying thereon)
both at the date hereof and at the Closing Date that:

 

		(a)	the Subscriber has been independently advised as to restrictions with respect to trading in the
Units imposed by applicable securities legislation, confirms that no representation has been made to it by or on behalf of the
Corporation with respect thereto, acknowledges that it is aware of the characteristics of the Units, the risks relating to an investment
therein and of the fact that it may not be able to resell the Securities except in accordance with limited exemptions under applicable
securities legislation and regulatory policy, including MI 51-105, NI 45-102 and the U.S. Securities Act until expiry of the applicable
restricted period and compliance with the other requirements of applicable law; and the Subscriber agrees that any certificates
representing the Securities, and all certificates issued in exchange therefor or in substitution thereof, will bear a legend indicating
that the resale of such Securities is restricted; and

 

		(b)	the Subscriber has not received or been provided with, nor has it requested, nor does it have any
need to receive, any offering memorandum, or any other document (other than an annual report, annual information form, interim
report, information circular or any other continuous disclosure document, the content of which is prescribed by statute or regulation)
describing the business and affairs of the Corporation which has been prepared for delivery to, and review by, prospective purchasers
in order to assist it in making an investment decision in respect of the Units; and

 

		(c)	the Subscriber has been afforded the opportunity (i) to ask such questions as it deemed necessary
of, and to receive answers from, representatives of the Corporation concerning the terms and conditions of the offering of the
Units and (ii) to obtain such additional information which the Corporation possesses or can acquire without unreasonable effort
or expense that the Subscriber considered necessary in connection with its decision to invest in the Units; and

 

		(d)	this Agreement is made unconditionally as a result of the Subscriber’s desire to participate
in the future development of the Corporation; and

 

		(e)	the Subscriber is purchasing as principal and it knows that it is purchasing the Units pursuant
to an exemption under NI 45-106 and, as a consequence, is restricted from using most of the civil remedies available under
applicable securities legislation, may not receive information that would otherwise be required to be provided to it under applicable
securities legislation, and the Corporation is relieved from certain obligations that would otherwise apply under applicable securities
legislation; and

 

		(i)	if a resident of Alberta, the Subscriber is a resident in or otherwise subject to the applicable
securities laws of Alberta and it is an "accredited investor" as such term is defined in NI 45-106 promulgated under
the Securities Act (Alberta) and has concurrently executed and delivered a Representation Letter in the form attached as
Exhibit 1 to this Subscription Agreement; or

 

		(ii)	if a resident of British Columbia, the Subscriber is a resident in or otherwise subject
to the applicable securities laws of British Columbia and it is an "accredited investor" as such term is defined in NI
45-106 promulgated under the Securities Act (British Columbia) and has concurrently executed and delivered a Representation
Letter in the form attached as Exhibit 1 to this Subscription Agreement; and

 

    	3

    	 

    
 

		(f)	if the Subscriber is resident in any jurisdiction not referred to in Subsection 9(e) above:
(a) the purchase of the Units does not contravene any of the applicable laws in the Subscriber’s jurisdiction of residence
and does not trigger (i) any obligation to prepare and file a prospectus, an offering memorandum or similar document, or any other
ongoing reporting requirements with respect to such purchase or otherwise, or (ii) any registration or other obligation on the
part of the Corporation; (b) the sale of the Units as contemplated in the Subscription Agreement complies with or is exempt from
applicable securities legislation of the Subscriber’s jurisdiction of residence and the Subscriber will provide such evidence
of compliance with all such matters as the Corporation may request; (c) the Subscriber will comply with the provisions of Section
7 and Subsection 9(a) as if they were a resident of Alberta or British Columbia; and (d) and notwithstanding that the Subscriber
is not a resident of Alberta or British Columbia, it is an "accredited investor" as such term is defined in NI 45-106
promulgated under the Securities Act (Alberta) and/or the Securities Act (British Columbia) and has concurrently
executed and delivered a Representation Letter in the form attached as Exhibit 1 to this Subscription Agreement; and

 

		(g)	the Subscriber has concurrently properly completed, executed and delivered a Risk Acknowledgement
Form in the form attached as Exhibit 2 to this Subscription Agreement, which the Corporation is relying upon for
determining the sale of securities of the Corporation to the Subscriber in a manner exempt from the registration requirements of
the applicable securities laws, which form is true and correct both as of the date of execution of this Subscription Agreement
and as at Closing.; and

 

		(h)	no person has made to the Subscriber any written or oral representations:

 

		(i)	that any person will resell or repurchase any of the Securities;

 

		(ii)	that any person will refund the purchase price of any of the Securities;

 

		(iii)	as to the future price or value of any of the Securities; or

 

		(iv)	that any of the Securities will be listed and posted for trading on a stock exchange or that application
has been made to list and post any of the Securities for trading on a stock exchange; and

 

		(i)	the Subscriber has not received or been provided with, nor has it requested, nor does it have any
need to receive, any offering memorandum, disclosure document or any other document describing the business and affairs of the
Corporation in order to assist the Subscriber in making an investment decision in respect of the Securities; and

 

		(j)	the issuance of the Units was not accompanied by any form of general solicitation, including but
not limited to any advertisement in printed public media, radio, television or telecommunications, including electronic display,
such as from the Internet. The decision to execute this Subscription Agreement and to subscribe for the Units has not been based
upon any verbal or written representation or understanding as to fact or otherwise made by or on behalf of the Corporation not
otherwise contained in this Subscription Agreement and the Subscriber has no understandings to the contrary.

 

		(k)	the Subscriber has no knowledge of a “material fact” or “material change”
(as those terms are defined by applicable securities legislation) in respect of the affairs of the Corporation that has not been
generally disclosed to the public, other than knowledge relating directly to its subscription for the Units; and the Corporation
may complete additional financings in the future, and such future financings may have a dilutive effect on then-current security
holders of the Corporation, including the Subscriber; and

 

		(l)	the Corporation may complete additional financings in the future, and such future financings may
have a dilutive effect on then-current security holders of the Corporation, including the Subscriber; and

 

		(m)	it is aware that the Securities have not been and will not be registered under the U.S. Securities
Act or any state securities laws, and that the Securities may not be offered or sold in the United States or to, or for the account
or benefit of, a U.S. Person without registration under the U.S. Securities Act and all applicable state securities laws or compliance
with the requirements of an exemption or exclusion from such registration requirements and acknowledges that the Corporation has
no present intention of filing a registration statement under the U.S. Securities Act in respect of the Securities; and

 

    	4

    	 

    
 

		(n)	the Units have not been offered to the Subscriber in the United States and this Subscription Agreement
has not been executed by or on behalf of the Subscriber in the United States; and

 

		(o)	it is not a U.S. Person and is not purchasing the Units on behalf of, or for the account or benefit
of, a U.S. Person or a person in the United States; and

 

		(p)	the Subscriber undertakes and agrees that it will not offer or sell the Securities unless such
securities are registered under the U.S. Securities Act and the securities laws of all applicable states of the United States,
or an exemption or exclusion from such registration requirements is available, and further that it will not resell the Securities
except in accordance with the provisions of applicable securities legislation, regulations, rules, policies and orders and stock
exchange rules; and

 

		(q)	it will not engage in hedging transactions with regard to the Securities except in compliance with
the U.S. Securities Act; and

 

		(r)	it understands and acknowledges that the Corporation must refuse to register any transfer of the
Securities not made in accordance with an available exemption or exclusion from the registration requirements of the U.S. Securities
Act or pursuant to registration under the U.S. Securities Act; and

 

		(s)	if the Subscriber is a “distributor” (as defined in Regulation S under the U.S. Securities
Act) or is an “affiliate” (as defined in Rule 405 under the U.S. Securities Act) of a distributor or is acting on behalf
of a distributor, (i) it agrees that it will not offer or sell the Securities during the one year period after the completion of
the distribution of the Units (the “Distribution Compliance Period”) to a U.S. Person or for the account or benefit
of a U.S. Person (other than a distributor), and (ii) if it sells Securities to another distributor, a dealer (as defined in Section
2(a)(12) of the U.S. Securities Act) or a person receiving a selling concession fee or other remuneration, during the Distribution
Compliance Period, the Subscriber agrees that it will send a written confirmation or other notice to the purchaser stating that
the purchaser is subject to the same restrictions on offers and sales that apply to a distributor and setting forth the restrictions
on offers and sales of Securities within the United States or to, or for the account or benefit of, U.S. Persons; and

 

		(t)	the Subscriber understands and acknowledges that the Whole Warrants may not be exercised unless
the Warrant Shares issuable upon such exercise have been registered under the U.S. Securities Act and all applicable state securities
laws or an exemption or exclusion from such registration requirements is available; and

 

		(u)	the Subscriber understands and acknowledges that each person exercising a Whole Warrant will be
required to provide either (i) written certification that it is not in the United States or a U.S. Person and the Whole Warrant
is not being exercised on behalf of a U.S. Person or a person in the United States, or (ii) a written opinion of counsel, of recognized
standing reasonably satisfactory to the Corporation, to the effect that the Whole Warrant being exercised and the Warrant Shares
issuable upon such exercise have been registered under the U.S. Securities Act and all applicable state securities laws or are
exempt from such registration requirements; and

 

		(v)	if any Securities are being sold pursuant to Rule 144 under the U.S. Securities Act, the United
States restrictive legend may be removed from the certificates representing the Securities by delivering to the Corporation a written
opinion of counsel, of recognized standing reasonably satisfactory to the Corporation, to the effect that the legend is no longer
required under applicable requirements of the U.S. Securities Act or state securities laws; and

 

		(w)	if a corporation, partnership, unincorporated association or other entity, it has the legal capacity
to enter into and be bound by this Subscription Agreement and further certifies that all necessary approvals of directors, shareholders
or otherwise have been given and obtained; and

 

		(x)	if an individual, it is of the full age of majority and is legally competent to execute this Subscription
Agreement and take all action pursuant hereto; and

 

		(y)	it acknowledges that the net subscription proceeds (gross proceeds less expenses, including legal
fees which have not been paid by the Corporation), will be immediately releasable to the Corporation on the Closing Date or later
closing dates, as the case may be; and

 

    	5

    	 

    
 

		(z)	this Subscription Agreement has been duly and validly authorized, executed and delivered by and
constitutes a legal, valid, binding and enforceable obligation of the Subscriber; and

 

		(aa)	the entering into of this Subscription Agreement and the transactions contemplated hereby will
not result in a violation of any of the terms and provisions of any law applicable to it, or any of its constating documents, or
of any agreement to which the Subscriber is a party or by which it is bound; and

 

		(bb)	in the case of a subscription by the Subscriber for Units acting as agent for a disclosed principal,
it is duly authorized to execute and deliver this Subscription Agreement and all other necessary documentation in connection with
such subscription on behalf of such principal and this Subscription Agreement has been duly authorized, executed and delivered
by or on behalf of, and constitutes a legal, valid and binding agreement of, such principal; and

 

		(cc)	the Subscriber has such knowledge in financial and business affairs as to be capable of evaluating
the merits and risks of the Subscriber’s investment and the Subscriber, or, where the Subscriber is acting as agent for a
disclosed principal, each beneficial purchaser, is able to bear the economic risk of loss of the Subscriber’s entire investment
in the Units; and

 

		(dd)	except for the representations and warranties made by the Corporation herein, it has relied solely
upon publicly available information relating to the Corporation and not upon any verbal or written representation as to fact or
otherwise made by or on behalf of the Corporation and acknowledges that the Corporation's counsel are acting as counsel to the
Corporation and not as counsel to the Subscriber; and

 

		(ee)	the Subscriber understands that Units are being offered for sale only on a "private placement"
basis and that the sale and delivery of the Units is conditional upon such sale being exempt from the requirements as to the filing
of a prospectus or delivery of an offering memorandum or upon the issuance of such orders, consents or approvals as may be required
to permit such sale without the requirement of filing a prospectus or delivering an offering memorandum and, as a consequence (i)
it is restricted from using most of the civil remedies available under applicable securities legislation; (ii) it may not
receive information that would otherwise be required to be provided to it under applicable securities legislation; and (iii) the
Corporation is relieved from certain obligations that would otherwise apply under applicable securities legislation; and

 

		(ff)	if required by applicable securities legislation, regulations, rules, policies or orders, NI 45-106,
or by any securities commission, stock exchange or other regulatory authority, the Subscriber will execute, deliver, file and otherwise
assist the Corporation in filing, such reports, undertakings and other documents with respect to the issue of the Units (including,
without limitation, a completed and duly executed Representation Letter, attached as Exhibit 1); and

 

		(gg)	the Subscriber will not resell the Securities except in accordance with the provisions of applicable
securities legislation and stock exchange rules, if applicable, in the future; and

 

		(hh)	the Subscriber deals at arm's length with the Corporation within the meaning of the Income Tax
Act (Canada) and will continue to deal at arm's length with the Corporation at all times which are relevant for this Subscription
Agreement; and

 

		(ii)	none of the funds the Subscriber is using to purchase the Units are, to the knowledge of the Subscriber,
proceeds obtained or derived, directly or indirectly, as a result of illegal activities; and

 

		(jj)	the funds representing the total Subscription Price which will be advanced by the Subscriber to
the Corporation hereunder will not represent proceeds of crime for the purposes of the Proceeds of Crime (Money Laundering)
and Terrorist Financing Act (Canada) (the "PCMLA") and the Subscriber acknowledges that the Corporation may in the
future be required by law to disclose the Subscriber's name and other information relating to this Subscription Agreement and the
Subscriber's subscription hereunder, on a confidential basis, pursuant to the PCMLA; and

 

		(kk)	to the best of its knowledge, the subscription funds to be provided by the Subscriber (i) have
not been or will not be derived from or related to any activity that is deemed criminal under the law of Canada, the United States
of America, or any other jurisdiction, and (ii) are not being tendered on behalf of a person or entity who has not been identified
to the Subscriber and the Subscriber shall promptly notify the Corporation if the Subscriber discovers that any of such representations
cease to be true, and to provide the Corporation with appropriate information in connection therewith; and

 

    	6

    	 

    
 

		(ll)	the Subscriber acknowledges that it has been encouraged to and should obtain independent legal,
income tax and investment advice with respect to its subscription for these Units and accordingly, has been independently advised
as to the meanings of all terms contained herein relevant to the Subscriber for purposes of giving representations, warranties
and covenants under this Subscription Agreement.

 

Representations, Warranties and Covenants
of the Corporation

 

10.The Corporation
hereby represents and warrants to the Subscriber that it has been duly incorporated and is a valid and subsisting corporation under
the laws of the State of Nevada, United States, is extra-provincially registered in the Province of Alberta, Canada and has full
corporate power and authority to enter into this Subscription Agreement and to perform its obligations hereunder.

 

11.The Corporation
hereby covenants with the Subscriber that it will take all corporate action required to issue to the Subscriber the Units and the
Common Shares and the Whole Warrants comprising the Units on the Closing Date.

 

12.The Corporation
hereby represents and warrants to the Subscriber that it is authorized to issue up to 300,000,000 Common Shares.

 

Registration Rights

 

13.If the Corporation
proposes to register, pursuant to any registration rights agreement (a “Registration Rights Agreement”), for shareholders
other than the Subscriber, any of its Common Shares or other equity securities (or securities convertible into equity securities)
under the U.S. Securities Act in connection with the public offering of such securities solely for cash (other than a registration
on Form S-8, Form S-4 or Form F-4), the Corporation will, at all such times, promptly give the Subscriber written notice of such
proposed registration. Upon the written request of the Subscriber, given within 20 days after the mailing of such notice by the
Corporation, the Corporation will, subject to the provisions of applicable Registration Rights Agreements, use its commercial best
efforts to cause a registration statement covering all of the (i) Common Shares being acquired hereunder and (ii) Warrant Shares
that each such holder has requested to be registered to become effective under the U.S. Securities Act. Only to the extent they
apply to “piggy back” registrations, such registration shall also be subject to the other provisions of each applicable
Registration Rights Agreement. For greater certainty, (i) such registration shall not be subject to any provisions of any Registration
Rights Agreement that are applicable only to “demand” registrations, and (ii) the Subscriber acknowledges that except
as contemplated by this Section, the Corporation is under no obligation hereunder to register any of its securities or to complete
any offering of its securities it proposes to make, and the Corporation will therefore incur no liability (including any penalties
that may be incurred under a Registration Rights Agreement) to the Subscriber for its failure to register any of its securities
or to complete any offering of its securities.

 

Conversion Conditions

 

14.If the closing
price of the Common Shares on the principal market on which such shares trade is equal to or exceeds US$1.00 for thirty (30) consecutive
trading days, then the Warrant Term shall automatically accelerate to the date which is thirty (30) calendar days following the
date that written notice has been given to the warrantholder.

 

Notice

 

15.Any notice or
other communication required or permitted to be given hereunder shall be in writing and shall be delivered by hand delivery, facsimile
transmission, other means of electronic communication or (provided that the mailing party does not know and should not reasonably
have known of any disruption or anticipated disruption of postal service which might affect delivery of the mail) by registered
mail (postage prepaid), to:

 

		(a)	in the case of the Subscriber, to the address appearing on the first page of this Subscription
Agreement with a copy to the Subscriber’s solicitor, l; and

 

		(b)	in the case of the Corporation, to the address appearing in Section 19 of this Subscription Agreement,

 

    	7

    	 

    
 

or at such other address
as the party to which such notice or other communication is to be given has last notified the party giving the same in the manner
provided in this paragraph.

 

Closing

 

16.The Subscriber
agrees to deliver to the Corporation, not later than 4:30 p.m. (Edmonton time) on the Closing Date:

 

		(a)	this duly completed and executed Subscription Agreement;

 

		(b)	a certified cheque, wire transfer or bank draft payable to Deep Well Oil & Gas, Inc. for the
Subscription Price of the Units subscribed for under this Subscription Agreement;

 

		(c)	the applicable Representation Letter as follows:

 

		(i)	if the Subscriber is an “accredited investor” in Alberta a fully completed and duly
executed Representation Letter, attached as Exhibit 1 hereto; or

 

		(ii)	if the Subscriber is an “accredited investor” in British Columbia a fully completed
and duly executed Representation Letter, attached as Exhibit 1 hereto; or

 

		(iii)	if the Subscriber is purchasing Units pursuant to Subsection 9(e) a fully completed and duly executed
Representation Letter, attached as Exhibit 1 hereto; and

 

		(d)	a completed and duly signed Risk Acknowledgement Form in the form attached as Exhibit 2
hereto.

 

17.The purchase and
sale of the Units pursuant to this Subscription Agreement will be completed at the offices of the Corporation’s solicitors,
Parlee McLaws LLP, in Edmonton, Alberta on the
Closing Date or such other place or time as the Corporation decides in its sole discretion. On the Closing Date, the Corporation
shall receive all completed subscription agreements, including this Subscription Agreement, and the Subscription Price against
delivery by the Corporation of the certificates representing the Units.

 

18.The Corporation
shall be entitled to rely on delivery of a facsimile copy of executed subscriptions, and acceptance by the Corporation of such
facsimile subscriptions shall be legally effective to create a valid and binding agreement between the Subscriber and the Corporation
in accordance with the terms hereof.

 

General

 

19.The Subscriber
agrees that the representations, warranties and covenants of the Subscriber herein will be true and correct both as of the execution
of this Subscription Agreement and as of the Closing Date and will survive the completion of the issuance of the Units. The representations,
warranties and covenants of the Subscriber herein are made with the intent that they be relied upon by the Corporation and it’s
counsel in determining the eligibility of a purchaser of Units and the Subscriber agrees to indemnify the Corporation, including
its respective affiliates, shareholders, directors, officers, partners, employees, advisors and agents, against all losses, claims,
costs, expenses and damages or liabilities which any of them may suffer or incur which are caused or arise from a breach thereof.
The Subscriber undertakes to immediately notify the Corporation at Suite 700, 10150 – 100 Street, Edmonton, Alberta, T5J
0P6, Attention: Curtis Sparrow (Fax Number: (780) 409-8146), of any change in any statement or other information relating to the
Subscriber set forth herein which takes place prior to the Closing Date.

 

20.The obligations
of the parties hereunder are subject to acceptance of the terms of the Offering by any required regulatory authority.

 

21.The Subscriber
acknowledges and agrees that all costs incurred by the Subscriber (including any fees and disbursements of any special counsel
retained by the Subscriber) relating to the purchase of the Units by the Subscriber shall be borne by the Subscriber.

 

    	8

    	 

    
 

22.The contract arising
out of this Subscription Agreement and all documents relating thereto shall be governed by and construed in accordance with the
laws of the Province of Alberta and the federal laws of Canada applicable therein. The parties irrevocably attorn to the exclusive
jurisdiction of the courts of the Province of Alberta.

 

23.Time shall be
of the essence hereof.

 

24.This Subscription
Agreement represents the entire agreement of the parties hereto relating to the subject matter hereof and there are no representations,
covenants or other agreements relating to the subject matter hereof except as stated or referred to herein.

 

25.The terms and
provisions of this Subscription Agreement shall be binding upon and enure to the benefit of the Subscriber and the Corporation
and their respective heirs, executors, administrators, successors and assigns; provided that, except for the assignment by a Subscriber
who is acting as agent to a beneficial disclosed purchaser and as otherwise herein provided, this Subscription Agreement shall
not be assignable by any party without prior written consent of the other parties.

 

26.The Subscriber,
on its own behalf and, if applicable, on behalf of others for whom it is contracting hereunder, agrees that this subscription is
made for valuable consideration and may not be withdrawn, cancelled, terminated or revoked by the Subscriber, on its own behalf
and, if applicable, on behalf of others for whom it is contracting hereunder.

 

27.Neither this Subscription
Agreement nor any provision hereof shall be modified, changed, discharged or terminated except by an instrument in writing signed
by the party against whom any waiver, change, discharge or termination is sought.

 

28.The invalidity,
illegality or unenforceability of any provision of this Subscription Agreement shall not affect the validity, legality or enforceability
of any other provision hereof.

 

29.The Subscriber
acknowledges and agrees that acceptance of this Subscription Agreement will be conditional, among other things, upon the sale of
Units to the Subscriber being exempt from any prospectus and offering memorandum requirements of all applicable securities laws.
The Corporation will be deemed to have accepted this Subscription Agreement upon the delivery on the Closing Date of the certificates
representing the Units to or upon the direction of the Subscriber in accordance with the provisions hereof.

 

30.The headings used
in this Subscription Agreement have been inserted for convenience of reference only and shall not affect the meaning or interpretation
of this Subscription Agreement or any provision hereof.

 

31.The covenants,
representations and warranties of the parties contained herein shall survive the Closing of the transactions contemplated hereby.

 

32.Each party shall
from time to time do such further acts and execute and deliver such further documents as shall be reasonably required in order
to fully perform and carry out the terms of this Subscription Agreement.

 

33.In this Subscription
Agreement, words importing the singular include the plural and vice versa and words importing persons include firms or corporations.

 

34.This Subscription
Agreement may be executed in any number of counterparts with the same effect as if all parties to this Subscription Agreement had
signed the same document and all counterparts will be construed together and constitute one and the same instrument.

 

35.All notices hereunder
will be in writing and addressed to the party for whom it is intended at the address indicated herein. Either party may by notice
to the other party change its address for service. Any notice personally delivered will be deemed to have been given or made on
the date it was actually delivered, or if sent by facsimile, will be deemed to have been given or made on the business day next
following the date upon which it was transmitted.

 

36.In this Subscription
Agreement references to "$" are to United States dollars unless stated otherwise.

 

    	9

    	 

    
 

Exhibit 1

 

REPRESENTATION LETTER

 

(FOR ALBERTA AND/OR BRITISH COLUMBIA
ACCREDITED INVESTORS OR ACCREDITED INVESTORS 

TO WHOM SUBSECTION 9(f) APPLIES)

 

		TO:	DEEP WELL OIL & GAS, INC. (the "Corporation")

 

In connection with the purchase of units
of the Corporation ("Units") by the undersigned subscriber or, if applicable, the principal on whose behalf the
undersigned is purchasing as agent (the "Subscriber" for the purposes of this Exhibit 1), the Subscriber hereby
represents, warrants, covenants and certifies to the Corporation (and acknowledges that the Corporation and its counsel are relying
thereof) that:

 

		1.	The Subscriber is resident in Alberta or British Columbia or is subject to the laws of the Province
of Alberta or British Columbia;

 

		2.	The Subscriber, unless it is a person or company described in paragraph (q) in the attached Appendix
"A" that is deemed pursuant to the provisions of section 2.3(5) of National Instrument 45-106 entitled "Prospectus
and Registration Exemptions" to be purchasing as principal, is purchasing the Units as principal for its own account and not
for the benefit of any other person;

 

		3.	The Subscriber is an "accredited investor" within the meaning of National Instrument
45-106 entitled "Prospectus and Registration Exemptions" by virtue of satisfying the indicated criterion as set out in
Appendix "A" to this Representation Letter; and

 

		4.	Upon execution of this Exhibit 1 by the Subscriber, this Exhibit 1 shall be incorporated into and
form a part of the Subscription Agreement.

 

 

	Dated:	 	 
	 	 	 
	 	 	 
	 	 	Print name of Subscriber
	 	 	 	 
	 	 	 	 
	 	 	By:	 
	 	 	 	Signature
	 	 	 	 
	 	 	 	Print name of Signatory (if different from Subscriber)
	 	 	 	 
	 	 	 	Title

 

IMPORTANT: PLEASE INITIAL THE APPROPRIATE
PARAGRAPH(S) ON APPENDIX "A"

 

    	 

    	 	

    
 

APPENDIX "A"

to Exhibit 1

 

Accredited Investor
- (defined in NI 45-106) means:

 

	_____	 	(a)	a Canadian financial institution or a Schedule III bank; or
	 	 	 	 
	_____	 	(b)	the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada); or
	 	 	 	 
	_____	 	(c)	a subsidiary of any person referred to in paragraphs (a) or (b), if the person owns all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary; or
	 	 	 	 
	_____	 	(d)	a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer, other than a person registered solely as a limited market dealer under one or both of the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador); or
	 	 	 	 
	_____	 	(e)	an individual registered or formerly registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (d); or
	 	 	 	 
	_____	 	(f)	the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada; or
	 	 	 	 
	_____	 	(g)	a municipality, public board or commission in Canada and a metropolitan community, school board, the Comité de gestion de la taxe scolaire de l'île de Montreal or an intermunicipal management board in Québec; or
	 	 	 	 
	_____	 	(h)	any national, federal, state, provincial, territorial or municipal government of or in any foreign jurisdiction, or any agency of that government; or
	 	 	 	 
	_____	 	(i)	a pension fund that is regulated by either the Office of the Superintendent of Financial Institutions (Canada) or a pension commission or similar regulatory authority of a jurisdiction of Canada; or
	 	 	 	 
	_____	 	(j)	an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000 (Canadian); or
	 	 	 	 
	_____	 	(k)	an individual whose net income before taxes exceeded $200,000 (Canadian) in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 (Canadian) in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year; or
	 	 	 	 
	_____	 	(l)	an individual who, either alone or with a spouse, has net assets of at least $5,000,000 (Canadian); or
	 	 	 	 
	_____	 	(m)	a person, other than an individual or investment fund, that has net assets of at least $5,000,000 (Canadian) as shown on its most recently prepared financial statements and such person was not created or used solely to purchase or hold securities as an “accredited investor”; or
	 	 	 	 
	_____	 	(n)	an investment fund that distributes or has distributed its securities only to:
	 	 	 	 
	 	 	 	(i) a person that is or was an accredited investor at the time of the distribution;
	 	 	 	 
	 	 	 	(ii) a person that acquires or acquired securities in the circumstances referred to in sections 2.10 and 2.19 of NI 45-106; or
	 	 	 	 
	 	 	 	(iii) a person described in paragraph (n)(i) or (ii) that acquires or acquired securities under section 2.18 of NI 45-106; or

 

    	 

    	 	

    
 

	_____	 	(o)	an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada  for which the regulator, or in Québec, the securities regulatory authority, has issued a receipt; or
	 	 	 	 
	_____	 	(p)	a trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust company or trust corporation, as the case may be; or
	 	 	 	 
	_____	 	(q)	a person acting on behalf of a fully managed account managed by that person, if that person
	 	 	 	 
	 	 	 	(i) is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction; and
	 	 	 	 
	 	 	 	(ii) in Ontario, is purchasing a security that is not a security of an investment fund; or
	 	 	 	 
	_____	 	(r)	a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded; or
	 	 	 	 
	_____	 	(s)	an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) or paragraph (i) in form and function; or
	 	 	 	 
	_____	 	(t)	a person in respect of which all of the owners of interests, direct, indirect, or beneficial, except the voting securities required by law to be owned by directors, are persons that are “accredited investors” (as defined in NI 45-106); or
	 	 	 	 
	_____	 	(u)	an investment fund that is advised by a person registered as an adviser or a person that is exempt from registration as an adviser; or
	 	 	 	 
	_____	 	(v)	a person that is recognized or designated by the securities regulatory authority or, except in Ontario and Québec, the regulator as an “accredited investor” (as defined in NI 45-106).

 

NOTE: The investor must initial
beside the applicable portion of the above definition.

 

For the purposes hereof:

 

		(a)	"affiliate" - An issuer is an “affiliate” of another issuer
if

 

		(i)	one of them is the subsidiary of the other, or

 

		(ii)	each of them is controlled by the same person;

 

		(b)	"bank" means a bank named in Schedule I or II of the Bank Act (Canada);

 

		(c)	"Canadian financial institution" means

 

		(i)	an association governed by the Cooperative Credit Associations Act (Canada) or a central
cooperative credit society for which an order has been made under section 473(1) of that Act; or

 

		(ii)	a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch,
credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of
Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

 

    	A-2

    	 

    
 

		(d)	"control person" means

 

		(i)	for Alberta,

 

		A.	a person or company who holds a sufficient number of the voting rights attached to all outstanding
voting securities of an issuer to affect materially the control of the issuer, and if a person or company holds more than
20% of the voting rights attached to all outstanding voting securities of an issuer, the person or company is deemed, in the absence
of evidence to the contrary, to hold a sufficient number of the voting rights to affect materially the control of the issuer, or

 

		B.	each person or company in a combination of persons or companies acting in concert by virtue of
an agreement, arrangement, commitment or understanding, who holds in total a sufficient number of the voting rights attached to
all outstanding voting securities of an issuer to affect materially the
control of the issuer, and if a combination of persons or companies holds more than 20% of the voting rights attached to all outstanding
voting securities of an issuer, the combination of persons or companies is deemed, in the absence of evidence to the contrary,
to hold a sufficient number of the voting rights to affect materially the control of the issuer;

 

		(ii)	for British Columbia, means

 

		A.	a person who holds a sufficient number of the voting rights attached to all outstanding voting
securities of an issuer to affect materially the control of the issuer, or

 

		B.	each person in a combination of persons, acting in concert by virtue of an agreement, arrangement,
commitment or understanding, which holds in total a sufficient number of the voting rights attached to all outstanding voting securities
of an issuer to affect materially the control of the issuer,

 

and, if a person
or combination of persons holds more than 20% of the voting rights attached to all outstanding voting securities of an issuer,
the person or combination of persons is deemed, in the absence of evidence to the contrary, to hold a sufficient number of the
voting rights to affect materially the control of the issuer;

 

		(e)	"director" means

 

		(i)	a member of the board of directors of a company or an individual who performs similar functions
for a company, and

 

		(ii)	with respect to a person that is not an company, an individual who performs functions similar to
that of a director of a company;

 

		(f)	"eligibility adviser" means:

 

		(i)	a person that is registered as an investment dealer and authorized to give advice with respect
to the type of security being distributed; and

 

		(ii)	in Saskatchewan or Manitoba, also means a lawyer who is a practicing member in good standing with
a law society of a jurisdiction of Canada or a public accountant who is a member in good standing of an institute or association
of chartered accountants, certified general accountants or certified management accountants in a jurisdiction of Canada provided
that the lawyer or public accountant must not

 

		A.	have a professional, business or personal relationship with the issuer, or any of its directors,
executive officers, founders or control persons, and

 

		B.	have acted for or been retained personally or otherwise as an employee, executive officer, director,
associate or partner of a person that has acted for or been retained by the issuer or any of its directors, executive officers,
founders or control persons within the previous 12 months;

 

    	A-3

    	 

    
 

		(g)	"EVCC" means an employee venture capital corporation that does not have a restricted
constitution and is registered under Part 2 of the Employee Investment Act (British Columbia), R.S.B.C. 1996 c. 112, and
whose business objective is making multiple investments;

 

		(h)	"executive officer" means, for an issuer, an individual who is

 

		(i)	a chair, vice-chair or president,

 

		(ii)	a vice-president in charge of a principal business unit, division or function including sales,
finance or production, or

 

		(iii)	performing a policy-making function in respect of the issuer;

 

		(i)	"financial assets" means

 

		(i)	cash;

 

		(ii)	securities; or

 

		(iii)	a contract of insurance, a deposit or evidence of a deposit that is not a security for the purposes
of securities legislation;

 

		(j)	"foreign jurisdiction" means a country other than Canada or a political subdivision
of a country other than Canada;

 

		(k)	"founder" means, in respect of an issuer, a person who,

 

		(i)	acting alone, in conjunction, or in concert with one or more persons, directly or indirectly, takes
the initiative in founding, organizing or substantially reorganizing the business of the issuer, and

 

		(ii)	at the time of the distribution or trade is actively involved in the business of the issuer;

 

		(l)	"fully managed account" means an account of a client for which a person makes
the investment decisions if that person has full discretion to trade in securities for the account without requiring the client's
express consent to a transaction;

 

		(m)	"jurisdiction" means a province or territory of Canada except when used in the
term "foreign jurisdiction";

 

		(n)	"individual" means

 

		(i)	for Alberta, a natural person, but does not include

 

		A.	a partnership, unincorporated association, unincorporated syndicate, unincorporated organization
or a trust, or

 

		B.	a natural person in the person's capacity as trustee, executor, administrator or other legal representative;

 

		(ii)	for British Columbia, a natural person, but does not include

 

		A.	a partnership, unincorporated association, unincorporated syndicate, unincorporated organization
or trust, or

 

		B.	a natural person in the person's capacity as a trustee, executor, administrator or personal or
other legal representative;

 

		(o)	"investment fund" means a mutual fund or a non-redeemable investment fund, and,
for greater certainty in British Columbia, includes an EVCC and a VCC;

 

		(p)	"non-redeemable investment fund" means an issuer,

 

    	A-4

    	 

    
 

		(i)	whose primary purpose is to invest money provided by its securityholders,

 

		(ii)	that does not invest,

 

		A.	for the purpose of exercising or seeking to exercise control of an issuer, other than an issuer
that is a mutual fund or a non-redeemable investment fund, or

 

		B.	for the purpose of being actively involved in the management of any issuer in which it invests,
other than an issuer that is a mutual fund or a non-redeemable investment fund, and

 

		(iii)	that is not a mutual fund;

 

		(q)	"person" includes

 

		(i)	an individual;

 

		(ii)	a corporation;

 

		(iii)	a partnership, trust, fund and an association, syndicate, organization or other organized group
of persons, whether incorporated or not; and

 

		(iv)	an individual or other person in that person's capacity as a trustee, executor, administrator or
personal or other legal representative;

 

		(r)	"related liabilities" means

 

		(i)	liabilities incurred or assumed for the purpose of financing the acquisition or ownership of financial
assets; or

 

		(ii)	liabilities that are secured by financial assets;

 

		(s)	"Schedule III bank" means an authorized foreign bank named in Schedule III of
the Bank Act (Canada):

 

		(t)	"securities legislation" means

 

		(i)	for Alberta, the Securities Act (Alberta) and the regulations and rules under such Act and
the blanket rulings and orders issued by the securities regulatory authority;

 

		(ii)	for British Columbia, the Securities Act (British Columbia) and the regulations, rules and
forms under such Act and the blanket rulings and orders issued by the securities regulatory authority;

 

		(iii)	for other Canadian jurisdictions, such other statutes and instruments as are listed in Appendix B
of National Instrument 14-101 – Definitions;

 

		(u)	"securities regulatory authority" means

 

		(i)	for Alberta, the Alberta Securities Commission;

 

		(ii)	for British Columbia, the British Columbia Securities Commission;

 

		(iii)	for other Canadian jurisdictions, means the securities regulatory authority as listed in Appendix
C of National Instrument 14-101 – Definitions;

 

		(v)	"spouse" means, an individual who,

 

		(i)	is married to another individual and is not living separate and apart within the meaning of the
Divorce Act (Canada), from the other individual; or

 

    	A-5

    	 

    
 

		(ii)	is living with another individual in a marriage-like relationship, including a marriage-like relationship
of individuals of the same gender; or

 

		(iii)	in Alberta, is an individual referred to in paragraph (i) or (ii) or is an adult interdependent
partner within the meaning of the Adult Interdependent Relationships Act (Alberta);

 

		(w)	"subsidiary" means an issuer that is controlled directly or indirectly by another
issuer and includes a subsidiary of that subsidiary; and

 

		(x)	"VCC" means a venture capital corporation registered under Part 1 of the Small
Business Venture Capital Act (British Columbia), R.S.B.C. 1996 c. 429 whose business objective is making multiple investments.

 

Meaning of Control:

 

A person ("first
person") is considered to "control" another person ("second person") if:

 

		(i)	the first person beneficially owns or directly or indirectly, exercises control or direction over
securities of the second person carrying votes which, if exercised, would entitle the first person to elect a majority of the directors
of the second person, unless that first person holds the voting securities only to secure an obligation; or

 

		(ii)	the second person is a partnership, other than a limited partnership, and the first person holds
more than 50% of the interests of the partnership; or

 

		(iii)	the second person is a limited partnership and the general partner of the limited partnership is
the first person.

 

    	A-6

    	 

    
 

Exhibit 2

 

RISK ACKNOWLEDGEMENT FORM

 

Risk Acknowledgement under Alberta Securities
Commission Blanket Order 31-505 and British Columbia Securities Commission BCI 32-513 Registration Exemption for Trades in Connection
with Certain Prospectus-Exempt Distributions Pursuant to National Instrument 31-103

 

Name of Issuer: Deep Well Oil & Gas, Inc.       

 

Name of Seller: Deep Well Oil & Gas, Inc.       

 

I acknowledge that 

 

		·	the person selling me these securities is not registered with a securities regulatory authority and is prohibited from telling
me that this investment is suitable for me;
	 	 	 

		·	the person selling me these securities does not act for me;
	 	 	 

		·	this is a risky investment and I could lose all my money; and,
	 	 	 

		·	I am investing entirely at my own risk.

 

 

	 	 	 
	Date	 	 	Signature of Purchaser
	 	 	 	 
	 	 	 	 
	 	 	 	Print name of Purchaser

 

	Deep Well Oil & Gas, Inc.	 
	Name of salesperson acting on behalf of seller	 

 

 

Sign two copies of this document. Keep one copy for your
records.

 

National Instrument 45-106 Prospectus and Registration Exemptions
may require you to sign an additional risk acknowledgement form.

 

If you want advice about the merits of this investment and whether
these securities are a suitable investment for you, contact a registered adviser or dealer.

 

 

(Corporation’s Copy)

 

    	 

    	 	

    
 

RISK ACKNOWLEDGEMENT FORM

 

Risk Acknowledgement under Alberta Securities
Commission Blanket Order 31-505 and British Columbia Securities Commission BCI 32-513 Registration Exemption for Trades in Connection
with Certain Prospectus-Exempt Distributions Pursuant to National Instrument 31-103

 

Name of Issuer: Deep Well Oil & Gas, Inc.     

 

Name of Seller: Deep Well Oil & Gas, Inc.     

 

I acknowledge that

 

		·	the person selling me these securities is not registered with a securities regulatory authority and is prohibited from telling
me that this investment is suitable for me;
	 	 	 

		·	the person selling me these securities does not act for me;
	 	 	 

		·	this is a risky investment and I could lose all my money; and,
	 	 	 

		·	I am investing entirely at my own risk.

 

	 	 	 
	Date	 	 	Signature of Purchaser
	 	 	 	 
	 	 	 	 
	 	 	 	Print name of Purchaser

 

	Deep Well Oil & Gas, Inc.	 
	Name of salesperson acting on behalf of seller	 

 

 

Sign two copies of this document. Keep
one copy for your records.

 

National Instrument 45-106 Prospectus and Registration Exemptions
may require you to sign an additional risk acknowledgement form.

 

If you want advice about the merits of this investment and whether
these securities are a suitable investment for you, contact a registered adviser or dealer.

 

 

(Subscriber’s Copy)

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