Document:

Exhibit
      10.1

    

    

    

    

    SAMSON
      OIL & GAS N.L.

    (ACN
      009
      069 005)

    

    

    and

    

    

    ARNDT
      ENERGY LIMITED

    

    

    

    

    

    

    

    
      CONSULTANCY
        AGREEMENT

     

    
      
         

      

      
         

        
          

        

      

      
        -2-

      

    

    

    CONSULTANCY
      AGREEMENT
      made I
      December 2005

    

    BETWEEN:

     

    
      	
              (1)

            	
              SAMSON
                OIL & GAS N.L.
                (ACN 009 069 005), (the “Company”);
                and

            

    

     

    
      	
              (2)

            	
              ARNDT
                ENERGY LIMITED
                (the “Consultant”).

            

    

     

    RECITALS:

     

    	(A)  	
            The
              Company requires the services of a competent executive to act as the
              Managing Director of the Company and to perform the
              Services.

          

     

    	(B)  	
            The
              Company has requested the Consultant to make available the Executive
              and
              to provide the Services, which the Consultant has agreed to do on the
              terms and conditions of this agreement.

          

    

    OPERATIVE
      PROVISIONS:

     

    1.    INTERPRETATION

     

    1.1    Definitions

     

    In
      this
      agreement, unless the context otherwise requires:

     

    “ASX”
      means
      Australian Stock Exchange Limited;

     

    “Board”
      means
      the board of directors of the Company;

     

    “Business
      Day”
      means a
      day on which banks generally are open for the full range of banking business
      in
      Perth; 

     

    “Company”
      means
      Samson Oil & Gas N.L. (ACN 009 069 005) of Level 36, Exchange Plaza, 2 The
      Esplanade, Perth, WA 6000

     

    “Consultancy
      Fee”
      has the
      meaning given to that expression in clause 5.1;

     

    “Corporations
      Act”
      means
      the Corporations Act 2001 (Cth);

     

    “Effective
      Date”
means
      1
      July 2005;

     

    “Executive”
      means
      Terence Maxwell Barr of 248 Wild Irishman Road, Keystone 80435, Colorado,
      USA;

     

    “GST”
      means
      the goods and services tax described in the A New Tax System (Goods and Services
      Tax) Act 1999 (Cth), and includes any replacement or subsequent similar
      tax;

     

    “month”
      means
      calendar month;

     

    
      
         

      

      
         

        
          

        

      

      
        -3-

      

    

    “Services”
      means
      the services set out in the schedule; 

     

    “Subsidiaries”
      means
      Samson Oil & Gas USA Inc. and Kestrel Energy Inc., both companies
      incorporated in Colorado, USA; and

     

    “Term”
      has the
      meaning given to that expression in clause 4.

     

    1.2    General

     

    In
      this
      agreement unless the context otherwise requires:

     

    
      	
            	(a)	
              a
                reference to any legislation or legislative provision includes any
                statutory modification or re-enactment of, or legislative provision
                substituted for, and any subordinate legislation issued under, that
                legislation or legislative
                provision;

            

    

     

    
      	
            	(b)	
              the
                singular includes the plural and vice
                versa;

            

    

     

    
      	
            	(c)	
              a
                reference to an individual or person includes a corporation, partnership,
                joint venture, association, authority, trust, state or government
                and vice
                versa;

            

    

     

    
      	
            	(d)	
              a
                reference to any gender includes all
                genders;

            

    

     

    
      	
            	(e)	
              a
                reference to a recital, clause or schedule is to a recital, clause
                or
                schedule of or to this agreement;

            

    

     

    
      	
            	(f)	
              a
                recital, schedule, annexure or a description of the parties forms
                part of
                this agreement;

            

    

     

    
      	
            	(g)	
              a
                reference to any party to this agreement or any other document or
                arrangement includes that party’s executors, administrators, substitutes,
                successors and permitted assigns;

            

    

     

    
      	
            	(h)	
              where
                an expression is defined, another part of speech or grammatical form
                of
                that expression has a corresponding
                meaning;

            

    

     

    
      	
            	(i)	
              a
                reference to a “related
                body corporate”
                of a body corporate is to a body corporate which is related to that
                body
                corporate within the meaning of section 50 of the Corporations Act;
                and

            

    

     

    
      	
            	(j)	
              a
                reference to “dollars”
                or “$”
                is to Australian currency.

            

    

     

    2.     ENGAGEMENT

     

    The
      Company agrees to engage the Consultant and the Consultant agrees to provide
      the
      Services on and subject to the terms and conditions of this
      agreement.

     

    
      
         

      

      
         

        
          

        

      

      
        -4-

      

    

     

    3.    SERVICES
      TO BE PROVIDED

     

    3.1    Provision
      of Services

     

    The
      Services shall be provided to the Company by the Consultant making available
      the
      services of the Executive on the terms of this agreement.

     

    3.2    Time
      and attention

     

    During
      the Term the Consultant must procure that the Executive devotes such of his
      time
      and attention to the provision of the Services as the Board reasonably requires
      from time to time, subject to a minimum of 47 weeks per annum and 40 hours
      per
      week (or as otherwise agreed in writing between the Company and the Consultant
      from time to time).

     

    3.3    Standard
      of performance

     

    During
      the Term the Consultant must procure that the Executive performs the Services
      in
      a competent and professional manner with the standard of diligence and care
      normally employed by a properly qualified person in the performance of
      comparable duties and in accordance with generally accepted practices
      appropriate to the activities undertaken.

     

    3.4    No
      restriction on provision of services to others

     

    Nothing
      contained in or implied by this agreement prevents the Consultant or the
      Executive from providing or agreeing to provide to any other person, firm or
      company services the same as or similar to the Services provided
      that:

     

    
      	
            	(a)	
              the
                provision of such services does not in any way impair or hinder the
                performance by the Consultant of its duties under this
                agreement;

            

    

     

    
      	
            	(b)	
              the
                Consultant first obtains the consent of the Company’s chairmanbefore
                providing such services to a company listed on ASX;
                and

            

    

     

    
      	
            	(c)	
              such
                services are not provided to an entity with interests in oil or gas
                projects.

            

    

     

    4.    TERM

     

    The
      Consultant's engagement to provide the Services is for a term of 3 years
      commencing on the Effective Date, subject to earlier termination of that
      engagement in accordance with clause 7.

     

    5.    CONSULTANCY
      FEE AND EXPENSES

     

    5.1    Consultancy
      Fee

     

    In
      consideration of the Consultant providing the Services to the Company, the
      Company will pay to the Consultant a fee at the rate of $230,000 per annum
      (or
      such other rate as may be agreed between the Company and the Consultant from
      time to time), payable in arrears by 12 equal instalments on the second Business
      Day of each month, with the first payment to be made on [2 August]
      2005.

     

    
      
         

      

      
         

        
          

        

      

      
        -5-

      

    

    5.2    Expenses

     

    In
      addition to the Consultancy Fee, on production of the relevant receipt, voucher,
      docket or other appropriate evidence, the Consultant shall be reimbursed all
      reasonable travelling, hotel or other expenses of the Executive incurred in
      or
      about the performance of the Services.

     

    5.3    Living
      Expenses

     

    In
      addition to the Consultancy Fee, the Company will assist the Consultant in
      discharging its duties under this agreement by providing an allowance of $50,000
      per year to assist in meeting the Executive’s living expenses in the USA, such
      allowance to be payable in arrears by 12 equal instalments on the second
      Business Day of each month.

     

    5.4    Spousal
      Travel

     

    The
      Consultant at its discretion may elect for the Executive to travel with his
      spouse in the execution of the Services, the reasonable cost of which shall
      be
      borne by the Company. Such travel shall be approved on a case by case basis
      by
      the Chairman of the Board.

     

    6.    REVIEW

     

    The
      Consultancy Fee shall be reviewed no later than 1 month after each anniversary
      of this agreement or after such other period as may be agreed between the
      parties. No review shall result in a reduction of the Consultancy Fee.

     

    7.    TERMINATION

     

    7.1    By
      the Company

     

    The
      Company may terminate this agreement:

     

    (a) immediately
      by notice to the Consultant if:

     

    
      	
            	(i)	
              the
                Consultant or the Executive is guilty of misconduct (including, without
                limitation, wilful misconduct, fraud or dishonesty) in relation to
                the
                affairs of the Company;

            

    

     

    
      	
            	(ii)	
              the
                Consultant or the Executive is charged with any offence which, in
                the
                reasonable opinion of the Board, has injured, or would be likely
                to
                injure, the reputation or business of the
                Company;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
        -6-

      

    

     

    
      	
            	(iii)	
              the
                Consultant is guilty of any material or persistent default, breach,
                non-observance or non-performance of any of the terms or conditions
                of
                this agreement;

            

    

     

    
      
        	
              	(iv)	
                the
                  Consultant goes into liquidation (except voluntary liquidation
                  for the
                  purpose of amalgamation or reconstruction) or has an administrator
                  appointed to it; 

              

      

    

     

    
      	
            	(v)	
              a
                receiver or receiver and manager is appointed over the whole or any
                part
                of the undertaking or assets of the Consultant;

            

    

     

    
      	
            	(vi)	
              the
                Executive commits an act of bankruptcy or ceases for any reason to
                be
                eligible to hold office as a director of a company;
                or

            

    

     

    
      	
            	(vii)	
              the
                Executive becomes permanently incapable, through death, illness or
                other
                incapacity, from performing the Services;
                or

            

    

     

    (b) by
      giving
      1 month’s notice and paying to the Consultant a termination payment equal to the
      larger of:

     

    
      	
            	(i)	
              the
                amount which the Consultant would have received under clauses 5.1
                and 5.3
                (at the rate prevailing at the date of termination) had this agreement
                continued for the balance of the
                Term;

            

    

     

    
      	
            	(ii)	
              the
                amount which the Consultant would have received under those clauses
                over a
                period of 12 months (at the rate prevailing at the date of
                termination).

            

    

     

    7.2    By
      the Consultant

     

    The
      Consultant may terminate this agreement:

     

    (a) 
      immediately by notice to the Company if:

     

    
      	
            	(i)	
              the
                Company enters into liquidation (except voluntary liquidation for
                the
                purpose of amalgamation or reconstruction) or has an administrator
                appointed to it; or

            

    

     

    
      	
            	(ii)	
              a
                receiver or receiver and manager is appointed over the whole or any
                part
                of the undertaking or assets of the Company;
                or

            

    

     

    (b) by
      giving
      28 days’ notice if the Company fails to pay any money due to the Consultant
      under this agreement within 14 days after receipt of a notice from the
      Consultant demanding such payment.

     

    
      
         

      

      
         

        
          

        

      

      
        -7-

      

    

     

    7.3    Payment
      by the Company on termination

     

    If
      this
      agreement is terminated pursuant to clause 7.1(a), no cancellation or
      termination payment is payable by the Company. Any Consultancy Fee due in
      respect of Services provided by the Consultant prior to that termination will
      be
      paid within 7 days after presentation to the Company of an invoice from the
      Consultant.

     

    7.4    No
      further claims

     

    On
      payment by the Company of any amount payable under clause 7.1(b) or 7.3, the
      Consultant will have no further claim against the Company for termination of
      this agreement or otherwise arising out of its provision of the Services under
      this agreement.

     

    8.    RECORDS
      AND ACCOUNTS

     

    The
      Consultant must keep comprehensive and accurate records and accounts of the
      Services provided by it under this agreement and the Company will have the
      right
      to inspect those records and accounts at any time during normal business
      hours.

     

    9.    CONFIDENTIALITY

     

    9.1    Confidential
      Information 

     

    All
      documents, notes and memoranda of any information concerning the business or
      affairs of the Company or any related body corporate of the Company made or
      received by the Consultant during its appointment under this agreement are
      the
      property of the Company or such related body corporate (as the case may be)
      and
      the Consultant must deliver all such documents, notes and memoranda and all
      copies of and extracts or extrapolations from them to the Company immediately
      following the termination of its appointment under this agreement, or at any
      time during the Term at the request of the Board.

     

    9.2    Securities
      Dealings 

     

    The
      Consultant must comply with the policy of the Company (as in force from time
      to
      time) regarding dealing in securities of the Company or any related body
      corporate of the Company.

     

    9.3    Disclosure
      

     

    Without
      prejudice to any common law duties or obligations of the Consultant, the
      Consultant must not (except in the proper course of its duties) either during
      or
      after its appointment under this agreement divulge to any person, and must
      use
      its best endeavours to prevent the publication or disclosure of, any trade
      secret or any confidential information concerning the business or affairs of
      the
      Company or any related body corporate of the Company or any of their respective
      dealings, transactions or affairs.

     

    
      
         

      

      
         

        
          

        

      

      
        -8-

      

    

     

    9.4    Compliance
      by Executive

     

    The
      Consultant must procure that the Executive complies in all respects with clauses
      9.1 to 9.3 (inclusive) as if a reference in those clauses to the Consultant
      were
      a reference to the Executive.

     

    10.    INDEMNITY

     

    The
      Consultant indemnifies and holds harmless each of the Company, its officers
      and
      employees (other than the Executive) from and against all liabilities, actions,
      proceedings, claims or demands against, and any losses, damages, costs or
      expenses of any of them of whatsoever kind directly or indirectly arising out
      of
      or resulting from the provision by the Consultant of the Services or any breach
      of this agreement by the Consultant, or from any wilful misconduct, fraud or
      gross negligence on the part of the Executive.

     

    11.    STATUS
      OF CONSULTANT 

     

    11.1    Consultant

     

    The
      Consultant is an independent contractor and is not, and shall not hold itself
      out as, an employee, agent, partner or representative of the
      Company.

     

    11.2    Consultant's
      Responsibilities

     

    The
      Consultant acknowledges and agrees that, as between the Consultant and the
      Company, it shall be solely responsible for the payment of salaries and wages,
      holiday pay, sick pay, long service leave, any worker’s compensation premiums or
      entitlements and all other employee benefits and entitlements (including,
      without limitation, superannuation contributions) to or on behalf of the
      Executive, and for the making of all tax instalment deductions in respect of
      the
      remuneration of the Executive, together with the payment of any fringe benefits
      tax, payroll tax or other tax or levy which may arise out of or in relation
      to
      the performance of the Services by the Executive.

     

    12.    GST

     

    If
      GST is
      or will be imposed on a supply made under or in connection with this agreement,
      the party making that supply may, to the extent that the consideration otherwise
      provided for that supply is not already stated to include an amount in respect
      of GST on the supply:

     

    (a) increase
      the consideration otherwise provided for that supply by the amount of that
      GST;
      or

     

    (b) otherwise
      recover from the other party the amount of that GST.

     

    
      
         

      

      
         

        
          

        

      

      
        -9-

      

    

    13.    NOTICES

     

    13.1    Method
      of giving notices

     

    A
      notice
      required or permitted to be given by one party to another under this agreement
      shall be in writing, addressed to the other party and:

     

    
      	
            	(a)	
              delivered
                to that party's address;

            

    

     

    
      	
            	(b)	
              sent
                by pre-paid mail to that party's address;
                or

            

    

     

    
      	
            	(c)	
              transmitted
                by facsimile to that party's
                address.

            

    

     

    13.2    Time
      of receipt

     

    A
      notice
      given to a party in accordance with clause 13.1 is treated as having been given
      and received:

     

    
      	
            	(a)	
              if
                delivered to a party's address, on the day of delivery if a Business
                Day,
                otherwise on the next following Business
                Day;

            

    

     

    
      	
            	(b)	
              if
                sent by pre-paid mail, on the third Business Day after posting;
                or

            

    

     

    
      	
            	(c)	
              if
                transmitted by facsimile to a party's address and a correct and complete
                transmission report is received, on the day of transmission if a
                Business
                Day, otherwise on the next following Business
                Day.

            

    

     

    13.3    Address
      of parties

     

    For
      the
      purpose of clause 13.2, the address of a party is the address set out below
      or
      another address of which that party may from time to time give notice to the
      other party:

     

    
      	
              Company:

            	
              Samson
                Oil & Gas N.L.

            
	 	 
	
              Attention:

            	
              The
                Company Secretary

            
	
              Address:

            	
              Level
                36, Exchange Plaza

            
	 	
              2
                The Esplanade

            
	 	
              PERTH
                WA 6000

            
	 	 
	
              Facsimile:

            	
              (08)
                9220 9820

            
	 	 
	
              Consultant:

            	
              ARNDT
                ENERGY LIMITED

            
	 	 
	
              Attention:

            	
              James
                Wolfson

            
	
              Address:

            	
              Trident
                Trust Company Trident Trust Company Limited

            
	
               

            	
              Trustees
                of the Arndt Trust

            
	
            	
              11
                Bath Street

            
	
            	
              PO
                Box 398

            
	
            	
              St
                Helier, JERSEY JE4 8UT

            
	
              Facsimile:
                

            	44 1534
              727
              195
	 	 

    

     

    
      
         

      

      
         

        
          

        

      

      
        -10-

      

    

     

    14.    LAW
      AND JURISDICTION

     

    14.1    Governing
      law

     

    This
      agreement is governed by the law in force in Western Australia.

     

    14.2    Submission
      to jurisdiction

     

    The
      parties submit to the non-exclusive jurisdiction of the courts of Western
      Australia and any courts that may hear appeals from those courts in respect
      of
      any proceedings in connection with this agreement.

     

    15.    ASSIGNMENT

     

    Neither
      party may assign its rights or obligations under this agreement without the
      prior written consent of the other party.

     

    16.    COSTS

     

    All
      costs
      of and incidental to the preparation and stamping of this agreement shall be
      borne by the Company.

     

    17.    GENERAL

     

    17.1    Waiver

     

    The
      failure, delay, relaxation or indulgence on the part of any party in exercising
      any power or right conferred upon that party by this agreement does not operate
      as a waiver of that power or right, nor does any single exercise of a power
      or
      right preclude any other or further exercise of it or the exercise of any other
      power or right under this agreement. A power or right may only be waived in
      writing, signed by the party to be bound by the waiver.

     

    17.2    Severability

     

    Any
      provision in this agreement which is invalid or unenforceable in any
      jurisdiction is to be read down for the purposes of that jurisdiction, if
      possible, so as to be valid and enforceable and is otherwise capable of being
      severed to the extent of the invalidity or unenforceability, without affecting
      the validity or enforceability of the remaining provisions of this agreement,
      or
      of that provision in any other jurisdiction.

     

    17.3    Further
      assurance

     

    Each
      party shall do, sign execute and deliver all agreements, documents, instruments
      and acts reasonably required of it by notice from the other party to effectively
      carry out and give full effect to this agreement and the rights and obligations
      of the parties under it.

     

    
      
         

      

      
         

        
          

        

      

      
        -11-

      

    

     

    17.4    Amendment

     

    This
      agreement may only be amended or supplemented in writing, signed by the
      parties.

     

    

    SCHEDULE

     

    The
      Services

     

    

     

    In
      the
      fulfilment of the Consultant’s obligations under clause 3.1, the Executive
      must:

     

    	(a)   
              	
            be
              responsible for the promotion, marketing, strategic planning and
              supervision of exploration and development programmes and the business
              development of the Company and the
              Subsidiaries;

          

     

    	(b)   
              	
            on
              an annual basis consult and agree with the Board goals and priorities
              for
              achievement in the ensuing year and strive to implement those goals
              and
              priorities;

          

     

    	(c)   
              	
            faithfully
              and diligently perform the duties of Managing Director;
              and

          

     

    	(d)    
             	
            perform
              such other duties and accept such additional responsibilities consistent
              with his position as the Board may from time to time assign to
              him.

          

     

    
      
         

      

      
         

        
          

        

      

      
        -12-

      

    

     

    EXECUTED
      as an
      agreement.

    

    
      	
              EXECUTED
                by
                SAMSON
                OIL & GAS N.L. 

              in
                accordance with section 127 of the 

              Corporations
                Act:

            
	 
	 
	 
	 	 	 
	
              /s/
                David Cairns

            	 	
              /s/
                Denis Rakich

            
	
              Signature
                of director

              David
                Cairns

              Name
                of director

            	 	
              Signature
                of director/secretary

              Denis
                Rakich

              Name
                of director/secretary

            
	 	 	 
	 	 	 
	
              EXECUTED
                by
                ARNDT
                ENERGY LIMITED 

            	 	 
	 	 	 
	 	 	 
	
              /s/
                David E. Bryant

            	 	
              /s/
                Phillipa S. Orchard

            
	
              Signature
                of director

              David
                E. Bryant 

              Name
                of director

            	 	
              Signature
                of director/secretary

              Phillipa
                S. Orchard

              Name
                of director/secretaryEMPLOYMENT
      AGREEMENT

     

    THIS
      EMPLOYMENT AGREEMENT (“Agreement”),
      is
      effective as of July 1, 2007 (the “Effective
      Date”),
      by and
      between Samson Oil and Gas USA, Inc., a Colorado corporation (“Company”),
      and
      Robyn Lamont (“Employee”).

     

    Recitals

     

    Company
      desires
      to retain the personal services of Employee as Vice President-Finance and Chief
      Financial Officer of Company and of Company’s parent, Samson Oil and Gas Limited
      (“Parent”) and Employee
      is
      willing to continue to make her services available to Company and
      Parent,
      on the
      terms and conditions hereinafter set forth;

     

    Agreement

     

    NOW,
      THEREFORE, in consideration of the premises and mutual covenants set forth
      herein, the parties agree as follows:

     

    1. Employment.

     

    1.1 Employment
      and Term.
      Company
      hereby agrees to employ Employee and Employee hereby agrees to serve Company,
      on
      the terms and conditions set forth herein, for the period commencing on the
      Effective Date and continuing through May 31, 2009, unless sooner terminated
      in
      accordance with the terms and conditions hereof (the “Term”).
      The
      Term will be extended for a second two (2) year period ending May 31, 2011
      unless either party gives written notice on or before March 1, 2009 of the
      party’s decision not to so extend. 

     

    1.2 Duties
      of Employee.
      Employee shall serve as the Vice President-Finance and Chief Financial Officer
      of Company and Parent, and shall have and exercise general responsibility for
      the accounting and financial management of Company and Parent. Employee shall
      report to the Chief Executive Officer and Managing Director of Company and
      Parent and to the Board of Directors of Parent (the “Board”),.
      Employee shall also have such other powers and duties as the Board may from
      time
      to time delegate to her provided that such duties are consistent with her
      position. Employee shall devote substantially all her working time and attention
      to the business and affairs of Company and Parent (excluding any vacation and
      sick leave to which Employee is entitled), render such services to the best
      of
      her ability, and use her best efforts to promote the interests of Company and
      Parent. So long as such activities do not interfere with the performance of
      Employee’s responsibilities as an employee of Company in accordance with this
      Agreement, it shall not be a violation of this Agreement for Employee to (i)
      serve on corporate, civic or charitable boards or committees, (ii) deliver
      lectures or fulfill speaking engagements; (iii) manage personal investments;
      or
      (iv) participate in continuing education seminars or similar activities relevant
      to her duties and responsibilities for the Company. 

     

    1.3 Place
      of Performance.
      In
      connection with her employment by Company, Employee shall be based at Company’s
      offices in Colorado or another mutually agreed location, except for travel
      necessary in connection with Company’s business.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    2. Compensation.

     

    2.1 Base
      Salary.
      Employee shall receive a base salary in an amount set by the Board from time
      to
      time throughout the Term (the “Base
      Salary”)
      during
      the Term, payable in installments consistent with Company’s normal payroll
      schedule, subject to applicable withholding and other taxes. As of the Effective
      Date, Employee’s Base Salary is $130,000. Employee’s Base Salary may be
      increased, but shall not be decreased without Employee’s written
      consent.

     

    2.2 Incentive
      Compensation.
      Employee shall be entitled to receive such bonus payments or incentive
      compensation as may be determined at any time or from time to time by the Board
      in its discretion. 

     

    2.3 Relocation
      Expenses.

     

    (a) If
      (i)
      Employee resigns for Good Reason under Section 4.6, or (ii) this Agreement
      is
      terminated by Company for any reason other than a termination for Cause under
      Section 4.1, or (iii) Company declines to extend the Term for a second two
      (2)
      year period under Section 1.1, then Company shall pay all reasonable relocation
      expenses incurred by Employee in returning to Australia. 

     

    (b) If
      Company’s offices to which Employee is assigned are relocated outside of the
      Denver, Colorado metropolitan area and Employee remains employed by Company
      pursuant to this Agreement, then Company shall pay all reasonable relocation
      expenses incurred by Employee in relocating to Company’s new location.

     

    3. Expense
      Reimbursement and Other Benefits.

     

    3.1 Expense
      Reimbursement.
      During
      the Term, Company shall reimburse Employee for all documented reasonable
      expenses actually paid or incurred by Employee in the course of and pursuant
      to
      the business of Company, subject to and in accordance with the expense
      reimbursement policies and procedures in effect for Company’s employees from
      time to time. 

     

    3.2 Other
      Benefits.
      During
      the Term, Company shall make available to Employee such benefits and perquisites
      as are generally provided by Company to its senior management (subject to
      eligibility), including but not limited to vacation and sick leave, U.S.
      immigration and visa support, participation in any group life, medical, health,
      dental, disability or accident insurance, pension plan, 401(k) savings and
      investment plan, profit-sharing plan, employee stock purchase plan, incentive
      compensation plan or other such benefit plan or policy, if any, which may
      presently be in effect or which may hereafter be adopted by Company for the
      benefit of its senior management or its employees generally, in each case
      subject to and on a basis consistent with the terms, conditions and overall
      administration of such plan or arrangement. 

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    3.3 Automobile.
      Employee shall be entitled to be reimbursed for her expenses of owning and
      operating an automobile or other motor vehicle chosen by Employee, subject
      to
      the reasonable approval of Company’s CEO, including lease payments, insurance,
      maintenance and fuel expenses, subject to Company’s general policies with
      respect to reimbursement of such amounts. 

     

    4. Termination.

     

    4.1 Termination
      for Cause.
      Notwithstanding anything contained to the contrary in this Agreement, this
      Agreement and Employee’s employment hereunder may be terminated by Company for
      Cause. As used in this Agreement, “Cause”
shall
      mean (i)  subject to the following sentences, any action or omission of
      Employee which constitutes (A) a breach of any of the provisions of Section
      6 of
      this Agreement, (B) a breach by Employee of her fiduciary duties and obligations
      to Company, or (C) Employee’s failure or refusal to follow any lawful directive
      of the Board, in each case which act or omission is not cured (if capable of
      being cured) within ten (10) days after written notice of same from Company
      to
      Employee, or (ii) conduct constituting fraud, embezzlement, misappropriation
      or
      gross dishonesty by Employee in connection with the performance of her duties
      under this Agreement, or a conviction of Employee of, a felony (other than
      a
      traffic violation) or, if it shall damage or bring into disrepute the business,
      reputation or goodwill of Company or impair Employee's ability to perform her
      duties with Company, any crime involving moral turpitude. Employee shall be
      given a written notice of termination for Cause specifying the details thereof.
      Upon any termination pursuant to this Section 4.1, Employee shall only be
      entitled to her Base Salary as then in effect through the date of termination,
      reimbursement of expenses incurred prior to the date of termination in
      accordance with Section 3.1 hereof and, and any other compensation and benefits
      payable in accordance with Section 3.2 hereof. Upon making such payments,
      Company shall have no further liability to Employee hereunder.

     

    4.2 Disability.
      Notwithstanding anything contained in this Agreement to the contrary, Company,
      by written notice to Employee, shall at all times have the right to terminate
      this Agreement and Employee’s employment hereunder if Employee shall, as the
      result of mental or physical incapacity, illness or disability, fail or be
      unable to perform her duties and responsibilities provided for herein in all
      material respects for a period of more than sixty (60) consecutive days in
      any
      12-month period. Upon any termination pursuant to this Section 4.2, (i) within
      thirty (30) days after the date of termination, Company shall pay Employee
      any
      unpaid amounts of her Base Salary accrued prior to the date of termination
      and
      shall reimburse Employee for all expenses described in Section 3.1 of this
      Agreement and incurred prior to the date of termination, and (ii) in lieu of
      any
      further Base Salary, incentive compensation or other benefits or payments to
      Employee for periods subsequent to the date of termination Company shall pay
      to
      Employee the Severance Payments and Severance Benefits specified in Section
      5.1.
      Upon making such payments and providing such benefits, Company shall have no
      further liability hereunder; provided,
      however, that
      Employee shall be entitled to receive any amounts then payable pursuant to
      any
      employee benefit plan, life insurance policy or other plan, program or policy
      then maintained or provided by Company to Employee in accordance with Section
      3.2 hereof and under the terms thereof.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    4.3 Death.
      In the
      event of the death of Employee during the term of her employment hereunder,
      this
      Agreement shall terminate on the date of Employee’s death. Upon any such
      termination, (i) within thirty (30) days after the date of termination, Company
      shall pay to the estate of Employee any unpaid amounts of her Base Salary
      accrued prior to the date of termination and reimbursement for all expenses
      described in Section 3.1 of this Agreement and incurred by Employee prior to
      her
      death, and (ii) in lieu of any further Base Salary, incentive compensation
      or
      other benefits or payments to the estate of Employee for periods subsequent
      to
      the date of termination Company shall pay to the estate of Employee the
      Severance Payments specified in Section 5.1. Upon making such payments, Company
      shall have no further liability hereunder; provided,
      that
      Employee’s spouse, beneficiaries or estate, as the case may be, shall be
      entitled to receive any amounts then payable pursuant to any employee benefit
      plan, life insurance policy or other plan, program or policy then maintained
      or
      provided by Company to Employee in accordance with Section 3.2 hereof and under
      the terms thereof. Nothing herein is intended to give Employee’s spouse,
      beneficiaries or estate any rights to or interest in any key man life insurance
      policy on Employee maintained by Company for the benefit of Company.

    

      4.4  Termination
        Without Cause.
        At any
        time Company shall have the right to terminate this Agreement and Employee’s
        employment hereunder by written notice to Employee. Upon any termination
        pursuant to this Section 4.4,, Company shall
        pay
        Employee any unpaid amounts of her Base Salary accrued prior to the date
        of
        termination
        and
        shall reimburse Employee for all expenses described in Section 3.1 of this
        Agreement and incurred prior to the date of termination,
        provided,
        however, that if Company provided Employee with less than ninety (90) days
        prior
        written notice of the date of such termination, then in addition to her Base
        Salary and benefits through the date of such termination, Company shall also
        pay
        Employee, on the date of such termination, an amount equal to her Base Salary
        for the difference between the required ninety (90) days notice and the actual
        notice given by Company, subject to all appropriate withholdings and deductions.
        If
        there
        has been a Change in Control of Company at any time during the Term, however,
        then Employee shall be entitled to receive prior notice of the effective
        date of
        termination equal to the greater of six (6) months or the time remaining
        until
        the end of the Term at the time of such notice (the “Change
        in Control Notice Period”).
        If
        there
        has been a Change in Control and Company provides Employee with a notice
        of
        termination that is less than the Change in Control Notice Period, then Company
        shall nevertheless pay Employee, on the date of such termination, her Base
        Salary, subject to all appropriate withholdings and deductions, for the
        difference between the Change in Control Notice Period and the actual notice
        given by Company. Upon
        making such payments and providing such benefits, Company
        shall have no further liability hereunder other
        than relocation expenses under Section 2.3 hereunder and any amounts then
        payable pursuant to any employee benefit plan, life insurance policy or other
        plan, program or policy then maintained or provided by Company to Employee
        in
        accordance with Section 3.2 and under the terms thereof. For
        purposes of this Agreement, a Change in Control of Company shall be deemed
        to
        have occurred if (i) any person, entity or group becomes the beneficial owner,
        directly or indirectly, of 50% or more of the voting securities of Company
        or
        Company’s parent, Samson Oil and Gas Limited, a Western Australia corporation
        (“Parent”);
        or
        (ii) as a result of, or in connection with, any tender offer, exchange offer,
        merger, business combination, sale of assets or contested election of directors
        (a "Transaction"),
        the
        persons who were directors of Company or Parent immediately before the
        Transaction no longer constitute a majority of the directors of Company;
        or
        (iii) Company is merged or consolidated with another corporation or entity
        and,
        as a result of the merger or consolidation, less than 51% of the outstanding
        voting securities of the surviving corporation or entity is then owned in
        the
        aggregate by the former stockholders of the Company; or (iv) Company transfers
        all or substantially all or substantially all of its assets to another
        corporation which is not a wholly owned subsidiary of the Company.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

     

    4.5 Voluntary
      Resignation.
      Employee may, upon not less than ninety (90) days prior written notice to
      Company, resign and terminate her employment hereunder. In the event Employee
      resigns as an employee of Company, she shall be entitled to receive only such
      payment(s) as she would have received had she been terminated pursuant to
      Section 4.1 hereof. Employee
      shall not under any circumstances give Company less than ninety (90) days prior
      written notice of her resignation date. 

     

    4.6 Resignation
      for Good Reason.
      Employee
      may, by written notice to Company during the Term, elect to terminate her
      employment on the basis of “good reason” if there is (a) a material change of
      the principal location in which Executive is required to perform her duties
      hereunder without Executive’s prior consent (it being agreed that any location
      within the state of Colorado or the Perth, Western Australia metropolitan area
      shall not be deemed a material change); or (b) a material reduction in (or
      a
      failure to pay or provide a material portion of) Employee’s Base Salary or other
      benefits payable under this Agreement or (c) a Change in Control of Company.
      Any
      such notice of termination by Executive for “good reason” shall specify the
      circumstances constituting “good reason” and shall afford Company an opportunity
      to cure such circumstances at any time within the thirty (30) day period
      following the date of such notice. If Company does cure such circumstances
      within said thirty (30) day period, the notice of termination shall be withdrawn
      by Executive and of no further force and effect. If the circumstances cited
      in
      Executive’s notice qualify as “good reason” hereunder and are not cured within
      the thirty (30) days after the notice, this Agreement shall be terminated ninety
      (90) days after Executive’s original written notice and such termination shall
      be treated in all respects as if it had been a termination without cause not
      involving a Change in Control under Section 4.4 of this Agreement. 

     

    5. Restrictive
      Covenants.

     

    5.1 Nondisclosure.
      (a) Employee
      acknowledges
      that as part of the terms of her employment by Company, she will have access
      to
      and/or may develop
      or assemble confidential information owned by or related to Company, its
      customers or its business partners or Parent. Such confidential information
      (whether or not reduced to writing) shall include without limitation, plans
      designs, data, processes, know-how, research and development projects, manuals,
      techniques, software and hardware, customer lists and information, contracts,
      marketing strategies and literature, agency relationships and terms, financial
      information, pricing and compensation structures, business relations and
      negotiations, employee lists, vendors and suppliers, and any other information
      designated as “confidential” by Company or Parent (collectively, “Confidential
      Information”).
      Employee shall retain all Confidential Information in confidence in perpetuity,
      and shall not use or disclose Confidential Information for any purpose other
      than to the extent necessary to perform her/her duties as an employee of
      Company. This duty of confidentiality shall continue indefinitely
      notwithstanding any termination of Employee’s employment. 

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (b) Employee
      agrees to (i) return to Company upon request, and in any event, at the time
      of
      termination of employment for whatever reason, all documents, equipment, notes,
      records, computer disks and tapes and other tangible items in her possession
      or
      under her control which belong to Company or any of its affiliates or which
      contain or refer to any Confidential Information relating to Company or any
      of
      its affiliates and (ii) if so requested by Company, delete all Confidential
      Information relating to Company or any of its affiliates from any computer
      disks, tapes or other re-usable material in her possession or under her control
      which contain or refer to any Confidential Information relating to Company
      or
      any of its affiliates.

     

    5.2 Non-solicitation
      of Customers and Employees.
      During
      the Term and the Severance Period, Employee (a) shall not solicit the business
      of any person, company or firm which is a former, current, or prospective
      customer or business partner of Company or Parent (a “Customer”) for the benefit
      of anyone other than the Company or Parent if the business solicited is of
      a
      type offered by Company or Parent during the Term, (b) shall not solicit or
      encourage any Customer to modify, diminish or eliminate its business
      relationship with Company or Parent or take any other action with respect to
      a
      Customer which could be detrimental to the interests of Company or Parent,
      and
      (c) shall not solicit for employment or for any other comparable service, such
      as consulting services, and shall not hire or engage as a consultant any
      employee or independent contractor employed or engaged by Company or Parent
      at
      any time during the Term. Employee acknowledges that violation of this covenant
      constitutes a misappropriation of Company’s or Parent’s trade secrets in
      violation of her duty of confidentiality owed to Company. 

     

    5.3 Non-competition.
      (a)
      During the Term and the Severance Period, unless otherwise waived in writing
      by
      Company (such waiver to be in Company’s sole and absolute discretion), Employee
      shall not, directly or indirectly, engage in, operate, manage, have any
      investment or interest or otherwise participate in any manner (whether as
      employee, officer, director, partner, agent, security holder, creditor,
      consultant or otherwise) in any sole proprietorship, partnership, corporation
      or
      business or any other person or entity (each, a “Competitor”)
      that engages directly or indirectly, in a Competing Business; provided,
      that Employee may hold or acquire, solely as an investment, shares of capital
      stock or other equity securities of any Competitor, so long as the securities
      are publicly traded and Employee does not control, acquire a controlling
      interest in, or become a member of a group which exercises direct or indirect
      control of, more than five percent (5%) of any class of equity securities of
      such Competitor. For purposes of this Agreement, the term “Competing
      Business”
      means any business
      that is engaged in competition with Company, or that is developing or offering
      products or services which are similar to or competitive with any products
      or
      services of Company, including but not limited to internet based commercial
      data
      management products and services. 

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    5.4 Non-disparagement.
      During the Term and the Severance Period, Employee
      will not distribute, cause a distribution of, or make any oral or written
      statement, which directly or by implication tarnishes, creates a negative
      impression of, or puts Company, its reputation and goodwill in a bad light,
      or
      disparages Company or Parent in any other way, including but not limited to:
      (a)
      the working conditions or employment practices of Company or Parent; (b)
      Company’s oil and gas properties, including unproved or proved undeveloped
      properties;
      or (c)
Company’s
      directors, officers and personnel. It will not be a violation of this section
      for
      Employee to make truthful statements, under oath, as required by law or formal
      legal process. 

     

    5.5 Intellectual
      Property Rights.
      Employee
      understands that as part of her Employment she may alone or together with others
      create, compile, or discover computer software, designs, literature, ideas,
      trade secrets, know-how, commercial information, or any other valuable invention
      or copyrightable work (collectively, “Intellectual
      Property”).
      Employee acknowledges that Company shall own all right, title, and interest
      in
      all Intellectual Property created by her in whole or in part in the course
      of
      her employment by Company. Employee hereby assigns to Company all right, title,
      and interest in the copyrights or patents embodied in or represented by such
      Intellectual Property, including all rights of renewal and termination, and
      to
      any and all other intellectual property rights, including without limitation,
      trademarks, trade secrets, and know-how embodied in Intellectual Property or
      in
      any other idea or invention developed in whole or in part by Employee in the
      course of her Employment. Employee further agrees to take all actions and to
      execute all documents necessary in order to perfect and to vest such
      intellectual property rights in Company. 

     

    5.6 Injunction.
      It is
      recognized and hereby acknowledged by the parties hereto that a breach by
      Employee of any of the covenants contained in Section 6 of this Agreement will
      cause irreparable harm and damage to Company, the monetary amount of which
      may
      be virtually impossible to ascertain. As a result, Employee recognizes and
      hereby acknowledges that Company shall be entitled to an injunction from any
      court of competent jurisdiction enjoining and restraining any violation of
      any
      or all of the covenants contained in Section 6 of this Agreement by Employee
      or
      any of her affiliates, associates, partners or agents, either directly or
      indirectly, and that such right to injunction shall be cumulative and in
      addition to whatever other remedies Company may possess.

     

    6. Entire
      Agreement; No Conflicts With Existing Arrangements.
      No
      agreements or representations, oral or otherwise, express or implied, with
      respect to the subject matter hereof have been made by either party which are
      not set forth expressly in this Agreement and this Agreement contains the entire
      agreement, and supersedes any other agreement or understanding, between Company
      and Employee relating to Employee’s employment and any compensation or benefits
      in respect thereof. Employee represents and warrants to Company that she has
      reviewed any existing employment or non-competition covenants with her prior
      employer, and that her employment by Company hereunder does not and will not
      conflict with or constitute a breach or default under any of the terms or
      provisions thereof.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    7. Notices:
      All
      notices and other communications required or permitted under this Agreement
      shall be in writing and will be either hand delivered in person, sent by
      facsimile, sent by certified or registered first class mail, postage pre-paid,
      or sent by nationally recognized express courier service. Such notices and
      other
      communications will be effective upon receipt if hand delivered or sent by
      facsimile, five (5) days after mailing if sent by mail, and one (l) day after
      dispatch if sent by express courier, to the following addresses, or such other
      addresses as any party may notify the other parties in accordance with this
      Section:

     

    If
      to
      Company:

    Suite
      210

    1726
      Cole Blvd

    Lakewood
      CO 80401

    

    Attention:
      Terrence Barr

    Facsimile:
      (303) 295-1961

     

    If
      to
      Employee:

    Robyn
      Lamont

    1600
      Glenarm Place, Apt 1006

    Denver,
      CO 80202

    Facsimile:
      (303) 295 1961

    

      
        	 	
                9.

              	
                Successors
                  and Assigns.

              

      

       

    

    (a) This
      Agreement is personal to Employee and without the prior written consent of
      Company shall not be assignable by Employee otherwise than by will or the laws
      of descent and distribution. This Agreement shall inure to the benefit of and
      be
      enforceable by Employee’s legal representatives.

     

    (b) This
      Agreement shall inure to the benefit of and be binding upon Company and its
      successors and assigns.

     

    (c) Company
      will require any successor (whether direct or indirect, by purchase, merger,
      consolidation or otherwise) to all or substantially all of the business and/or
      assets of Company to expressly assume and agree to perform this Agreement in
      the
      same manner and to the same extent that Company would be required to perform
      it
      if no such succession had taken place. As used in this Agreement, “Company”
shall
      mean Company and any successor to its business and/or assets which assumes
      and
      agrees to perform this Agreement by operation of law or otherwise.

    

      
        	 	
                10.

              	
                Severability.
                  The invalidity of any portion of this Agreement shall not affect
                  the
                  enforceability of the remaining portions of this Agreement. If
                  any
                  provision of this Agreement shall be declared invalid, this Agreement
                  shall be construed as if such invalid word or words, phrase or
                  phrases,
                  sentence or sentences, clause or clauses, or section or sections
                  had not
                  been inserted. If such invalidity is caused by length of time or
                  size of
                  area, or both, the otherwise invalid provision will be considered
                  to be
                  reduced to a period or area which would cure such
                  invalidity.

              

      

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

      
        	 	
                11.

              	
                Waivers.
                  The waiver by either party hereto of a breach or violation of any
                  term or
                  provision of this Agreement shall not operate nor be construed
                  as a waiver
                  of any subsequent breach or
                  violation.

              

      

       

      
        	 	
                13.

              	
                No
                  Third Party Beneficiary.
                  Nothing expressed or implied in this Agreement is intended, or
                  shall be
                  construed, to confer upon or give any person (other than the parties
                  hereto and, in the case of Employee, her heirs, personal representative(s)
                  and/or legal representative) any rights or remedies under or by
                  reason of
                  this Agreement.

              

      

       

      
        	 	
                14.

              	
                Governing
                  Law.
                  This Agreement shall be governed by and construed in accordance
                  with the
                  laws of the State of Colorado, without regard to principles of
                  conflict of
                  laws.

              

      

       

      
        	 	
                15.

              	
                Survival.
                  Employee’s obligations under Section 6 hereof shall not terminate upon the
                  termination of employment or the termination of this Agreement
                  but shall
                  continue in accordance with their terms set forth herein.
                  

              

      

       

      
        	 	
                15.

              	
                Counterparts
                  and Facsimile Signatures.
                  This Agreement may be executed in one or more counterparts and
                  by the
                  separate parties hereto in separate counterparts, each of which
                  shall be
                  deemed an original, but all of which together shall constitute
                  one and the
                  same document. Telecopies or other electronic facsimiles of original
                  signatures shall be deemed to be the same as original signatures
                  for all
                  purposes. 

              

      

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the undersigned have executed this Agreement as of the
      Effective Date.

     

    
      	 	 	 
	 	
              COMPANY:
                SAMSON OIL AND GAS USA, INC.

            
	 
 	 
 	 
 
	
            	By:  	/s/ Terry
              Bar 
	 	
              
Terry
              Barr, 
	 	CEO & Managing
              Director

    

     

    
      	 	 	 
	 	
              EMPLOYEE:

            
	 
 	 
 	 
 
	
            	By:  	/s/ Robyn
              Lamont  
	 	
              
Robyn
              Lamont
	 	 

    

     

    
      
         

      

      
        10

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