Document:

Form of Dealer Agreement

 Exhibit 10.9 
  

			
	

	  	 NICHOLAS FINANCIAL, INC.
  
 Automobile Dealer Retail Agreement

 Non-Recourse Dealer Retail Agreement 
 The undersigned Dealer proposes to sell to the
undersigned Nicholas Financial, Inc. (NFI), from time to time, Promissory Notes, Security Agreements, Retail Installment contracts, Conditional Sales Contracts, or other instruments hereinafter referred to as “Contracts”, evidencing
installment payment obligations owing Dealer arising from the time sale of motor vehicle(s) and secured by such Contracts. It is understood that NFI shall have the sole discretion to determine which Contracts it will purchase from Dealer.

  

	1.	Dealer represents and warrants that Contracts submitted to NFI for purchase shall represent valid, bonefide sales for the respective amount therein set forth in such
Contracts and that such Contracts represent sales of motor vehicles owned by the Dealer and are free and clear of all liens and encumbrances. 

  

	2.	Upon purchase by NFI of any contracts hereunder from dealer, dealer shall endorse and assign to NFI the obligations and all pertinent security, security instruments,
along with such provisional endorsements as may be stipulated for such contracts purchased by NFI. 

  

	3.	This Agreement, and sums payable hereunder, may not be assigned by Dealer without written consent of NFI. 

  

	4.	Dealer acknowledges that NFI charges an acquisition fee and a $75.00 loan processing charge on all contracts purchased and funded by NFI. The acquisition fee and loan
processing charge are taken from Dealer Proceeds and are Non-Refundable. The amount is disclosed on each transaction and is set by Nicholas Financial, Inc. 

  

	5.	Perfection of Security Interest: For each Contract purchased by NFI, Dealer shall, within 20 days of the date of the Contract or within a lesser time
period if required by applicable law, file and record all documents necessary to properly perfect the valid and enforceable first priority security interest of NFI in the Vehicle and shall send NFI all security interest filing receipts. A Contract
shall be subject to Repurchase for the life of the Contract if NFI suffers a loss due to the Dealership’s failure to (1) file and record, within 20 days of the date of the Contract or within a lesser time period if required by applicable
law, all documents required to properly perfect the valid and enforceable first priority security interest of NFI in the Vehicle; (2) send NFI the filing receipts reflecting said perfection. 

  

	6.	Indemnity: As a separate and cumulative obligation, Dealer shall defend and hold NFI harmless from any and all claims,
defenses, offsets, damages, suits, administrative or other proceedings, cost (including reasonable attorney’s fees), expenses, losses, and liabilities. (Collectively Claims) arising out of connected with or relating to the Contract or the goods
or services sold there under. Timing of indemnification is within 7 days of demand by NFI. 

  

	7.	Add-on Products and Services:  

  

	 	a.	Defined. “Add-on Products and Services,” or “APS,” shall mean service contracts, mechanical breakdown contracts, GAP contracts, credit life
and credit accident and health insurance. In addition, the term shall include other products and services acceptable to and approved in writing by NFI from time to time. 

  

	 	b.	Cancellation of APS. If APS has been sold by the Dealer and financed in a Contract purchased by NFI, Dealer agrees that such APS shall be cancelable upon demand
by Buyer. Upon such cancellation, Dealer shall immediately notify NFI that the Buyer has canceled the APS. Upon cancellation, Buyer shall be entitled to a refund of the unearned portion of the cash price of the APS as provided in the APS Contract or
as may otherwise be required by law, whichever is greater. As between NFI and Dealer, Dealer agrees to pay to NFI, as appropriate, any refund due to Buyer under the terms of an APS Contract. Dealer’s liability under this Section shall be
limited to the amount Dealer collected and retained or otherwise received, directly or indirectly, in connection with the sale of the APS. 

  

	8.	Privacy: Dealer shall not make any unauthorized disclosure of, or use any personal information of individual consumers which it receives from NFI or on
NFI’s behalf other than to carry out the purposes for which such information is received. NFI and Dealer shall comply in all respects with all applicable requirements of Title V of the Gramm-Leach-Bliley Act of 1999 and its implementing
regulations. 

  

	9.	No Provisions hereof may be modified, changed or supplemented, unless both parties agree to the amendment in writing. 

  

									
	Nicholas Financial, Inc.	  		  	Dealer:	  	  

					
	By:	 	  
	  		  	By:	  	  

					
	Date:	 	  
	  		  	Date:	  	  

	
	 DEALER NAME

	 1ST ATLANTA AUTO SALES

	 1ST CLASS AUTO SALES

	 1ST FINANCIAL SERVICES

	 1ST PLACE AUTO SALES, INC

	 3 D AUTOMOTIVE GROUP

	 4X4 AUTOS AND MORE

	 808 MOTOR CARS, INC

	 A TO Z AUTOS, INC

	 AAA MOTORS, INC

	 AACC AUTO CAR SALES, INC

	 ABBY’S AUTOS, INC

	 ABC AUTOTRADER

	 ABRAHAM BUICK, INC

	 ACTION GM

	 ACURA OF ORANGE PARK

	 ADAMSON FORD LLC

	 ADVANCED AUTO BROKERS, INC

	 ADVANTAGE FORD LINCOLN MERCURY

	 ADVANTAGE MOTORS

	 AFFORDABLE MOTORS, INC

	 AFFORDABLE USED CARS & TRUCKS

	 AIRPORT KIA

	 AL HENDRICKSON TOYOTA

	 ALEXANDER FORD LINCOLN

	 ALLAN VIGIL FORD

	 ALLEN TURNER AUTOMOTIVE

	 ALTERNATIVES

	 AMBAR MOTORS, INC

	 AMERICAN AUTO SALES

	 AMERICAN AUTO SALES OF CRYSTAL RIVER

	 ANCHOR AUTO

	 ANDERSON SUBURU

	 ANDY CHEVROLET COMPANY

	 ANDY MOHR BUICK PONTIAC GMC

	 ANDY MOHR CHEVROLET, INC

	 ANDY MOHR MITSUBISHI, INC

	 ANTHONY UNDERWOOD AUTOMOTIVE

	 ANTWERPEN NISSAN, INC

	 APEX AUTOMOTIVE

	 APL OF ORLANDO

	 APPROVAL AUTO CREDIT INC

	 AR MOTORSPORTS INC

	 ARCH ABRAHAM NISSAN LTD

	 ARRIGO DODGE

	 ASHEBORO FORD LINCOLN

	 ASHEBORO HONDA MAZDA

	 ATLANTA AUTO BROKERS

	 ATLANTA AUTO SHOWCASE

	 ATLANTA LUXURY MOTORS

	 ATLANTA USED CARS CENTER, INC

	 ATLANTIC MOTOR SPORTS

	 ATLANTIC RENT A CAR

	 AUCTION DIRECT USA

	 AUDI VOLKSWAGON OF NAPLES

	 AUTO AMERICA

	 AUTO BANK

	 AUTO CITY AT CLAYTON

	 AUTO CITY, INC

	
	 DEALER NAME

	 AUTO CREDIT CENTER INC

	 AUTO CREDIT OF KENTUCKY

	 AUTO DIRECT COLUMBUS OH

	 AUTO DIRECT OF CAROLINA

	 AUTO EXPO OF ROME

	 AUTO EXPRESS CREDIT INC

	 AUTO FINDERS OF VIRGINIA

	 AUTO GALLERY, INC

	 AUTO LINE, INC

	 AUTO MARKET, INC

	 AUTO PLEX

	 AUTO PROFESSIONAL CAR SALES

	 AUTO RITE, INC

	 AUTO SELECT

	 AUTO SOURCE OF GEORGIA

	 AUTO WISE AUTO SALES

	 AUTO WISE OF SHELBYVILLE

	 AUTO WORLD

	 AUTOMAX

	 AUTOMOTION

	 AUTOMOTIVE LIQUIDATORS

	 AUTOPLEX IMPORT

	 AUTORAMA PREOWNED CARS

	 AUTOS AND CYCLES

	 AUTOSTAR

	 AUTOVILLE, USA

	 AUTOWAY CHEVROLET

	 AUTOWAY FORD OF BRADENTON

	 AUTOWISE LLC

	 AUTOWORLD USA

	 AUTOXSELL SALES & MARKETING

	 AVERY AUTO SALES, INC

	 AXELROD PONTIAC

	 B & W MOTOR CARS

	 BA-KARS, INC

	 BALTIMORE WASHINGTON AUTO

	 BANK AUTO SALES

	 BARBIES AUTOS CORPORATION

	 BASELINE AUTO SALES, INC

	 BASIC AUTO SALES

	 BATTLEGROUND KIA

	 BEACHNUTZ AUTO SALES LLC

	 BEAU TOWNSEND NISSAN, INC

	 BEDFORD AUTO WHOLESALE

	 BEDFORD NISSAN, INC

	 BEECHMONT FORD

	 BELL & HOWARD CHEVROLET

	 BELL MOTORS

	 BELLE GLADE CHEVROLET CADILLAC

	 BEN MYNATT PONTIAC BUICK

	 BENSON CAR MART

	 BENTON AUTO SALES

	 BEREA AUTO MALL

	 BERT SMITH INTERNATIONAL

	 BESSEMER CHRYSLER JEEP DODGE

	 BEST BUY USED CARS

	 BEST CARS USA, INC

	 BEST DEAL AUTO SALES

	
	 DEALER NAME

	 BEST WEST AUTO

	 BICKEL BROTHERS AUTO SALES, INC

	 BIG BLUE AUTOS LLC

	 BIG O DODGE OF GREENVILLE, INC

	 BILL BLACK CHEVROLET

	 BILL BRANCH CHEVROLET

	 BILL BROWN FORD, INC

	 BILL DELORD AUTOCENTER, INC

	 BILL ESTES CHEVROLET

	 BILL GADDIS CHRYSLER

	 BILL RAY NISSAN

	 BILL REILLY’S UNION CITY TOYOTA

	 BILLS AUTO SALES & LEASING LTD

	 BILTMORE MOTOR CORPORATION

	 BLACKSTONE IMPORTS OF CHARLOTTE

	 BLEECKER CHEVROLET PONTIAC

	 BLOOMFIELD EUROTECH IMPORT

	 BLUE PRINT AUTOMOTIVE GROUP II

	 BO WILLIAMS BUICK, INC

	 BOB BELL CHEVROLET NISSAN, INC

	 BOB BOAST DODGE

	 BOB DANCE KIA

	 BOB KING MITSUBISHI

	 BOB KING’S MAZDA

	 BOB MAXEY FORD

	 BOB MONTGOMERY CHEVROLET, INC

	 BOB PFORTE MOTORS

	 BOB PRICE MOTORS, INC

	 BOB STEELE CHEVROLET, INC

	 BOBB SUZUKI

	 BOBBY LAYMAN CHEVROLET, INC

	 BOBBY MURRAY CHEVROLET

	 BONIFACE HIERS MAZDA

	 BORCHERDING ENTERPRISE, INC

	 BOWDITCH FORD, INC

	 BRADLEY CHEVROLET, INC

	 BRADY AUTO SALES

	 BRANDON HONDA

	 BRANDON MITSUBISHI

	 BREAKAWAY HONDA

	 BREMEN MOTORS

	 BRIGHTON CHRYSLER PLYMOUTH

	 BRONDES FORD MAUMEE LTD

	 BRONDES FORD, INC

	 BRUNSWICK AUTO MART

	 BUDGET AUTO MART

	 BUTLER HYUNDAI, INC

	 BUY REPO DIRECT

	 BUY RITE WHOLESALE

	 BYERLY FORD-NISSAN, INC

	 BYERS CHRYSLER LLC

	 BYERS DELAWARE

	 BYERS KIA

	 BYERS VOLVO

	 C & S AUTO

	 CADILLAC SAAB OF ORANGE PARK

	 CALI-HABANA AUTO SALES CORPORATION

	 CALVARY CARS & SERVICE, INC

	
	 DEALER NAME

	 CAPITAL AUTO BROKERS

	 CAPITAL BOULEVARD AUTO SALES

	 CAPITAL CADILLAC HUMMER

	 CAPITAL CITY IMPORTS

	 CAPITAL MOTORS

	 CAPITOL AUTO

	 CAR CENTRAL

	 CAR COLLECTION OF TAMPA, INC

	 CAR COLLECTION, INC

	 CAR CONNECTION

	 CAR CORRAL

	 CAR DEALZ

	 CAR DEPOT

	 CAR FINDERS

	 CAR NET USA

	 CAR SOURCE LLC

	 CAR TOWN

	 CAR ZONE

	 CARDINAL CHRYSLER JEEP DODGE

	 CARMEL MOTORSPORTS LLC

	 CAROLINA AUTO EXCHANGE

	 CAROLINA AUTO IMPORTS

	 CAROLINA MOTORCARS

	 CAROLINA NISSAN, INC

	 CARRIAGE KIA

	 CARRIAGE MITSUBISHI

	 CARRIAGE TOWNE CHRYSLER DODGE

	 CARS & TRUCKS

	 CARS 4 LESS $

	 CARSMART OF BLOUNTSTOWN, INC

	 CARY AUTO SALE, INC

	 CARZONE OF THE GREATER TRIANGLE LLC

	 CASCADE AUTO GROUP LTD

	 CASTRIOTA CHEVROLET GEO, INC

	 CECIL CLARK CHEVROLET, INC

	 CENTRAL CAROLINA PRE-OWNED

	 CENTURY BUICK

	 CENTURY MOTORS FINANCIAL, INC

	 CERTIFIED AUTO DEALERS

	 CERTIFIED MOTORS, INC

	 CHARLOTTE HONDA - VW

	 CHASE MOTORS CORPORATION

	 CHEAPERCAR.COM

	 CHEVROLET BUICK OF QUINCY, INC

	 CHRIS LEITH CHEVROLET

	 CHRIS LEITH DODGE

	 CHRIS SPEARS PRESTIGE AUTO

	 CHUCK CLANCY DODGE CHRYSLER

	 CINCY IMPORTS

	 CITRUS AUTO LLC

	 CITRUS CHRYSLER JEEP DODGE

	 CITY AUTO SALES

	 CITY CHEVROLET

	 CITY HYUNDAI

	 CITY KIA

	 CITY MOTORS, INC

	 CITY PUBLISHING COMPANY, INC

	 CITY TO CITY AUTO SALES LLC

  

	
	 DEALER NAME

	 CLASSIC BUICK OLDSMOBILE

	 CLASSIC CHEVROLET BMW

	 CLASSIC FORD

	 CLASSIC FORD LINCOLN MERCURY

	 CLAYTON PRE-OWNED AUTO

	 CLEARWATER TOYOTA

	 COASTAL AUTO GROUP, INC DBA SNIDERS TRUCKS

	 COASTAL CARS, INC

	 COASTAL CHEVROLET, INC

	 COASTAL MITSUBISHI

	 COCONUT CREEK MITSUBISHI

	 COGGIN CHEVROLET AT THE AVENUES

	 COGGIN HONDA

	 COGGIN NISSAN

	 COGGIN NISSAN AT THE AVENUES

	 COGGIN PONTIAC-GMC

	 COLUMBUS AUTO RESALE, INC

	 COLUMBUS CAR COMPANY

	 COLVIN AUTO SALES & SERVICE

	 COMBS & COMPANY

	 CONRAD AUTO SALES, INC

	 CONTEMPORARY MITSUBISHI

	 COOK MOTORS SALES

	 CORAL PALM AUTO SALES

	 COUGHLIN AUTOMOTIVE OF MARYSVILLE

	 COUGHLIN CHEVROLET-NEWARK

	 COUGHLIN CHEVROLET OF CHILLICOTHE

	 COUGHLIN FORD OF CIRCLEVILLE

	 COUGHLIN PONTIAC BUICK GMC

	 COUNTY MOTOR CO, INC

	 COURTESY FORD

	 COVINGTON AUTO PLEX LLC

	 COX CHRYSLER JEEP DODGE

	 CRAIG & BISHOP, INC

	 CRAIG & LANDRETH, INC

	 CREDIT MASTER AUTO SALES

	 CRENCOR LEASING & SALES

	 CRESCENT FORD, INC

	 CRESTMONT HYUNDAI LLC

	 CREWS CARS

	 CRM MOTORS, INC

	 CRONIC CHEVROLET OLDSMOBILE CADILLAC, INC

	 CROSS AUTOMOTIVE

	 CROSSROADS AUTO SALES, INC

	 CROSSROADS FORD

	 CROSSROADS FORD OF KERNERSVILLE, INC

	 CROWN AUTO DEALERSHIPS, INC

	 CROWN MOTOR SPORTS

	 CROWN MOTORS, INC

	 CRUISER AUTO SALES

	 CRYSTAL MOTOR CAR COMPANY, INC

	 CURRY HONDA

	 CUZZ’S AUTOSALES, INC

	 D & D MOTORS, INC

	 DALE JARRETT FORD

	 DALLAS CPDJ

	 DAN CUMMINS CHEVROLET BUICK PONTIAC

	 DAN TUCKER AUTO SALES

	
	 DEALER NAME

	 DAN’S AUTO SALES, INC

	 DARCARS WESTSIDE PRE-OWNED

	 DAVE EDWARDS TOYOTA

	 DAVID SMITH AUTOLAND, INC

	 DAYS CAMPING & RV CENTER, INC

	 DAY’S CHEVROLET

	 DAYTON ANDREWS DODGE

	 DAYTONA AUTO SPORT

	 DEALS ON WHEELS AUTO MART

	 DEER FORD

	 DELAND HONDA

	 DELMONTE MOTOR CARS & TRUCKS

	 DELRAY IMPORTS, INC

	 DELUCA TOYOTA, INC

	 DENNY’S AUTO SALES, INC

	 DETROIT HUMMER

	 DETROIT II AUTO FINANCE

	 DEWITT MOTORS

	 DIANE SAUER CHEVROLET, INC

	 DICK BROOKS HONDA

	 DICK MASHETER FORD, INC

	 DICK SCOTT NISSAN, INC

	 DIRECT AUTO EXCHANGE LLC

	 DIRECT SALES & LEASING

	 DISCOUNT AUTO BROKERS

	 DISCOUNT AUTO OUTLET CORP OF BROWARD

	 DISCOUNT AUTO SALES

	 DJ PROPERTY INVESTMENTS, INC

	 DMC AUTO EXCHANGE

	 DON HINDS FORD, INC

	 DON JACKSON CHRYSLER DODGE

	 DON MARSHALL CHYSLER CENTER

	 DON REID FORD, INC

	 DREAM CARS UNLIMITED

	 DRIVE AUTOMOTIVE

	 DRIVE AWAY AUTO LLC

	 DRIVE SOURCE

	 DRIVERIGHT AUTO SALES, INC

	 DRIVERS CAR MART

	 DUKE IMPORTS, INC

	 DUNN CHEVROLET OLDS, INC

	 DUVAL FORD

	 DUVAL HONDA

	 DUVALL ACCURA

	 E & F AUTO GROUP

	 EAGLE ONE AUTO SALES

	 EARL TINDOL FORD, INC

	 EASTGATE MOTORCARS, INC

	 ECONOMIC AUTO SALES, INC

	 ECONOMY MOTORS

	 EC’S WHOLESALE

	 ED HARRISON AUTO SALES, INC

	 ED SCHMIDT AUTOMOTIVE GROUP

	 ED TILLMAN AUTO SALES

	 ED VOYLES CHRYSLER-PLYMOUTH

	 ED VOYLES HONDA

	 EDWARDS CHEVROLET COMPANY

	 ELDER FORD OF TAMPA LLC

	
	 DEALER NAME

	 ELITE AUTOMOTIVE GROUP LLC

	 ELITE MOTORCARS

	 ELITE MOTORS, INC

	 EMPIRE AUTO LLC

	 ENTERPRISE CAR SALES

	 ENTERPRISE LEASING COMPANY OF NORFOLK

	 ENTERPRISE LEASING COMPANY OF GEORGIA

	 ENTERPRISE LEASING COMPANY OF ORLANDO

	 ENTERPRISE LEASING COMPANY

	 ERNEST MOTORS, INC

	 ERNIE HAIRE FORD

	 ET AUTO SALES

	 EVERYDAY AUTO SALES

	 EXCLUSIVE CARZ AND AUTO

	 EXPRESS CARS LIMITED

	 EXTREME DODGE TRUCK

	 E-Z AUTO RENTAL

	 FAIRBORN BUICK PONTIAC GMC

	 FAITH MOTORS, INC

	 FAMILY KIA

	 FAMILY MOTORS

	 FERCO MOTORS

	 FERMAN CHEVROLET

	 FERMAN CHRYSLER JEEP DODGE AT CYPRESS CREEK

	 FERMAN NEW PORT RICHEY

	 FERN CREEK AUTO SALES, INC

	 FIELDS CERTIFIED AUTO FINANCE

	 FIRKINS NISSAN

	 FIRST CHOICE AUTOMOTIVE, INC

	 FIRST STOP AUTO SALES

	 FIRST TEAM HYUNDAI

	 FITZGERALD MOTORS, INC

	 FLEET SALES

	 FLORIDA AUTO EXCHANGE

	 FLORIDA GULF COAST LLC

	 FLOW CHEVROLET LLC

	 FLOW HONDA

	 FOLGER AUTOMOTIVE LLC

	 FORT MYERS MITSUBISHI

	 FORT MYERS TOYOTA, INC

	 FOUNTAIN AUTO MALL

	 FOX AUTO SALES

	 FRANK MYERS AUTO SALES, INC

	 FRANK NERO LINCOLN/MERCURY

	 FRED MARTIN MOTOR COMPANY

	 FREEDOM AUTOMOTIVE GROUP

	 FREEDOM DODGE CHRYSLER JEEP

	 FREEDOM FORD, INC

	 FRITZ ASSOCIATES

	 FUREYS WHEEL WORLD

	 GA BEST CAR DEALS

	 GALEANA CHRYSLER PLYMOUTH

	 GANLEY BEDFORD IMPORTS, INC

	 GANLEY CHEVROLET, INC

	 GANLEY DODGE

	 GANLEY EAST, INC

	 GANLEY FORD WEST, INC.

	 GANLEY NISSAN

	
	 DEALER NAME

	 GANLEY, INC

	 GARY SMITH FORD

	 GATEWAY HONDA

	 GATOR CHRYSLER-PLYMOUTH, INC

	 GATORLAND TOYOTA

	 GENE GORMAN AUTO SALES

	 GEN-X CORP

	 GEORGE WAIKEM FORD, INC

	 GERMAIN FORD

	 GERMAIN OF SARASOTA

	 GETTEL TOYOTA

	 GILLYS LTD LLC

	 GLASSMAN OLDSMOBILE, INC

	 GLENBROOK DODGE, INC

	 GLENN BUICK GMC TRUCKS

	 GO! AUTO STORE

	 GOLDEN OLDIES

	 GOLDMARK AUTO GROUP

	 GOOD MOTOR COMPANY

	 GOOD RIDES, INC

	 GOODWIN MOTOR CO, INC

	 GORDON CHEVROLET-GEO

	 GRAHAM AUTO SALES

	 GRAND 54 AUTO SALES, INC

	 GRANT MOTORS CORPORATION

	 GREAT LAKES HYUNDAI, INC

	 GREEN FORD, INC

	 GREEN TREE TOYOTA

	 GREENBRIER DODGE OF CHESAPEAKE, INC

	 GREENBRIER OLDS GMC PONTIAC

	 GREENBRIER VW LLC

	 GREENE FORD COMPANY

	 GREENLIGHT MOTORS LLC

	 GREENWAY FORD, INC

	 GREENWOOD’S HUBBARD CHEVY OLDS

	 GREER NISSAN

	 GREG BELL CHEVROLET OLDSMOBILE

	 GRIFFIN FORD SALES, INC

	 GRIFFITH AUTO GROUP

	 GROGANS TOWNE CHRYSLER

	 GROVEPORT MOTORCAR

	 GULF COAST AUTO WHOLESALE

	 GULF COAST AUTOS, INC

	 GULF COAST MOTORS

	 GULF WEST AUTOMOTIVE, INC

	 GUS MACHADO FORD, INC

	 GWINNETT PLACE NISSAN

	 H & H AUTO SALES

	 HAASZ AUTO MALL LLC

	 HALEY TOYOTA OF RICHMOND

	 HALLMARK HYUNDAI

	 HANNA IMPORTS

	 HAPPY AUTO MART

	 HARBOR CITY AUTO SALES, INC

	 HARDIE’S USED CARS LLC

	 HARRELSON NISSAN

	 HARRELSON TOYOTA

	 HATCHER’S AUTO SALES

  
  

	
	 DEALER NAME

	HATFIELD KIA
	HAYDOCY PONTIAC-GMC TRUCK, INC
	HEATH MOTORSPORTS
	HEATHS TOYS AUTO SALES
	HELLER CAR COMPANY, INC
	HENDRICK HONDA
	HENNESSY MAZDA PONTIAC GMC
	HERB KINMAN CHEVROLET, INC
	HERITAGE AUTO SALES LLC
	HIBDON MOTOR SALES
	HICKORY HOLLOW CARNIVAL KIA
	HIESTER PREOWNED CLEARANCE CENTER
	HIGH Q AUTOMOTIVE CONSULTING
	HILLMAN MOTORS, INC
	HOLLAND FAMILY AUTO
	HOMETOWN AUTO, INC
	HONDA CARS OF BRADENTON
	HONDA CARS OF ROCK HILL
	HONDA EAST
	HONDA MALL OF GEORGIA
	HONDA OF FORT MYERS
	HONDA OF MENTOR
	HONDA OF PORT RICHEY
	HOOVER TOYOTA LLC
	HUBERT VESTER TOYOTA SCION
	HUBLER CHEVROLET CADILLAC, INC
	HUBLER NISSAN, INC
	HUFF FORD, INC
	HUNT’S USED CARS
	HUTCHINSON PONTIAC GMC
	HWY 150 BUYERS WAY, INC
	HYMAN AUTO OUTLET LLC
	HYUNDAI OF LOUISVILLE
	HYUNDIA OF GREER
	HYUNDIA OF ORANGE PARK
	ICARSNOW.COM OF MONROE
	IMPORT CARS R US
	IMPORT MOTORSPORT, INC
	IMPORTS PERFORMANCE
	INC MOTORSPORTS
	INDY MOTORWERKS
	INTEGRITY AUTO CONSULTANTS LLC
	INTEGRITY MOTORS, INC
	INTERSTATE FORD, INC
	J & C AUTO SALES
	J & M AFFORDABLE AUTO, INC
	J.W. TRUCK SALES, INC
	JACK DEMMER FORD, INC
	JACK MATIA CHEVROLET
	JACKSON ACURA
	JACKSONVILLE CHRYSLER
	JAKE SWEENEY CHEVROLET, INC
	JAMES O’NEAL CHRYSLER-DODGE JEEP
	JAMIE’S DISCOUNT AUTO SALES
	JARRARD PRE-OWNED VEHICLES
	JARRETT FORD HAINES CITY
	JARRETT FORD OF PLANT CITY
	JARRETT-GORDON FORD OF WINTER HAVEN

	
	 DEALER NAME

	JAY PONIIAC BUICK
	JAY’S USED CARS LLC
	JB’S AUTO SALES OF PASCO, INC
	JC AUTOMAX
	JEFF SCHMITT AUTO GROUP
	JEFF WYLER CHEVROLET, INC
	JEFF WYLER FLORENCE
	JEFF WYLER SPRINGFIELD, INC
	JEFFERSON MOTOR COMPANY
	JENKINS HYUNDAI OF BRADENTON
	JENKINS NISSAN, INC
	JERRY WILSON’S MOTOR CARS
	JERSEY MOTORS
	JIM BURKE NISSAN
	JIM DOUGLAS SALES AND SERVICE
	JIM SHELL AUTO SALES.COM
	JIM SKINNER FORD, INC
	JOE FIRMENT CHEVROLET
	JOEY D’S AUTO OUTLET
	JOHN BAILEY OLDS
	JOHN BLEAKLEY FORD
	JOHN JONES AUTOMOTIVE
	JOHN SNYDER AUTO MART, INC
	JORDAN FRAZIER CHRYSLER JEEP
	JOSEPH TOYOTA, INC
	JT AUTO, INC
	JULIANS AUTO SHOWCASE, INC
	JUST-IN-TIME AUTO SALES, INC
	K & B FINANCIAL SERVICES, INC
	K B AUTO EMPORIUM
	K J ENTERPRISES
	KDK AUTO BROKERS
	KEFFER CHRYSLER PLYMOUTH JEEP
	KEFFER OF MOORESVILLE LLC
	KEITH HAWTHORNE HYUNDAI LLC
	KEITH HAWTHORNE MAZDA
	KEITH HAWTORNE FORD
	KEITH JORDANS 10 & UNDER
	KELLER FORD, INC
	KELLY FORD
	KEN GANLEY NISSAN, INC
	KENDALL AUTO SALES CORPORATION
	KENNYS AUTO SALES, INC
	KEN’S AUTOS
	KENS KARS
	KERNERSVILLE DODGE
	KERRY TOYOTA
	KIA ATLANTA SOUTH
	KIA OF ALLIANCE
	KIA OF ANDERSON
	KIA OF BEDFORD
	KIA OF CONYERS
	KIA OF GASTONIA
	KIA STONE MOUNTAIN
	KIA TOWN CENTER
	KINGDOM MOTOR CARS
	KINGS FORD, INC
	KING’S NISSAN

	
	 DEALER NAME

	KOE-MAK CORP
	KUHN HONDA VOLKSWAGON
	KUHN MORGAN TOYOTA SCION
	LAFONTAINE AUTO GROUP
	LAKE PLACID MOTOR CAR, INC
	LAKELAND AUTO MALL
	LAKELAND CHRYSLER PLYMOUTH, INC
	LANDMARK CDJ OF MONROE LLC
	LANIGAN’S AUTO SALES
	LARRY JAY IMPORTS, INC
	LARRY’S USED CARS
	LASH AUTO SALES, INC
	LEADERSHIP MOTORS EXPORTS, INC
	LEBANON FORD LINCOLN
	LEE HYUNDAI, INC
	LEE’S AUTO SALES, INC
	LEGACY NISSAN
	LEGACY TOYOTA
	LEITH MITSUBISHI
	LES STANFORD FORD
	LIBERTY FORD SOUTHWEST, INC
	LIBERTY PONTIAC GMC TRUCK, INC
	LIGHTHOUSE TOYOTA
	LIMBAUGH TOYOTA, INC
	LOCAL WHOLESALE
	LOKEY NISSAN
	LOKEY OLDSMOBILE, INC
	LOU BACHRODT CHEVROLET
	LOU SOBH PONTIAC/BUICK/GMC
	LOWES AUTO SALES
	LUXURY IMPORTS
	LYNNHAVEN LINCOLN MERCURY
	MACKENNEY AUTO SALES
	MADISON MOTORS
	MAGIC IMPORTS OF GAINESVILLE, INC
	MAHER CHEVROLET, INC
	MAJOR MOTORS SALES
	MALCOLM CUNNINGHAM FORD
	MALIBU MOTORS
	MALL OF GEORGIA AUTO SALES
	MALOY AUTOMOTIVE LLC
	MANNING MOTORS, INC
	MARANATHA CAR COMPANY
	MARK BRADLEY AUTO SALES
	MARKET STREET MOTORS
	MARLIN MOTORS, INC
	MARLOZ OF HIGH POINT
	MARLOZ OF STATESVILLE
	MAROONE FORD OF MARGATE
	MARSHALL MOTORS OF FLORENCE
	MARTELL LINCOLN MERCURY
	MASTER CAR INTERNATIONAL, INC
	MASTER CARS
	MATHEWS BUDGET AUTO CENTER
	MATHEWS FORD OREGON, INC
	MATT CASTRUCCI
	MATTHEWS-CURRIE FORD COMPANY
	MAXIE PRICE CHEVROLETS OLDS, INC

	
	 DEALER NAME

	MAXTON MOTORS
	MAZDA SAAB OF BEDFORD
	MAZDA WESTSIDE
	MCCORMACK CARS
	MCGHEE AUTO SALES, INC
	MCKENNEY CHEVROLET
	MCKENNEY-SALINAS HONDA
	MCVAY MOTORS, INC
	MECHANICSVILLE TOYOTA
	MELBOURNE CHEVROLET
	MENTOR IMPORTS, INC
	METRO FORD LINCOLN MERCURY
	METRO HONDA
	METRO USED CARS
	MICHAEL’S AUTO
	MIDDLETON USED CARS
	MIDFIELD MOTOR COMPANY, INC
	MIDWEST MOTORS & TIRES
	MIKE ALBERT LEASING, INC
	MIKE BASS FORD
	MIKE CASTRUCCI CHEVY OLDSMOBILE
	MIKE CASTRUCCI FORD OF ALEXANDRIA
	MIKE ERDMAN MOTORS, INC
	MIKE PRUITT HONDA, INC
	MIKE’S AUTO FINANCE
	MIKE’S BUICK PONTIAC GMC
	MIKES PREOWNED SUPERSTORE
	MILTON DODGE CHRYSLER JEEP
	MILTON MARTIN HONDA
	MINCER MOTORS, INC
	MINIVAN SOURCE, INC
	MINT CONDITION AUTO SALES, INC
	MIRA AUTO SALES
	MIRACLE CHRYSLER DODGE JEEP
	MLM AUTOBROKERS LLC
	MODERN CORP
	MONROE DODGE/CHRYSLER, INC
	MONTGOMERY MOTORS
	MONTROSE FORD
	MONTROSE TOYOTA
	MONTROSE TRI COUNTY KIA
	MORAN CHEVROLET
	MOTOR CAR CONCEPTS II
	MOTORVENTURE LLC
	MR T’S AUTO DETAIL & SALES, INC
	MT CLEMENS AUTO CENTER
	MULLINAX FORD OF PALM BEACH
	MUNZY’S MOTORS, INC
	MURPHY MOTORS
	MY FLORIDA DIRECT AUTO
	N T I
	NALLEY HONDA
	NALLEY INFINITI
	NAPLES NISSAN
	NAPLETON’S NORTH PALM AUTO PARK
	NATIONAL AUTO FINANCE
	NATIONAL CAR MART, INC
	NATIONAL CAR SALES

	
	 DEALER NAME

	 NEIL HUFFMAN NISSAN

	 NELSON AUTO SALES, INC

	 NELSON MAZDA

	 NELSON MAZDA RIVERGATE

	 NEW WAY AUTOMOTIVE

	 NEWTON MOTORS

	 NEWTON’S AUTO SALES, INC

	 NEXT GENERATION MOTORS, INC

	 NICHOLS DODGE, INC

	 NICK MAYER LINCOLN MERCURY, INC

	 NISSAN OF NICHOLASVILLE

	 NISSAN SOUTH

	 NORTH BROTHERS FORD, INC

	 NORTH FLORIDA AUTO, INC

	 NORTHGATE FORD LINCOLN MERCURY

	 NORTHLAND CHRYSLER JEEP DODGE

	 NORTHPOINTE AUTO SALES

	 NU-WAVE AUTO CENTER

	 OASIS AUTO SALES, INC

	 O’BRIEN AUTO CENTER

	 OCEAN AUTO SALES OF MIAMI, INC

	 OCEAN MAZDA

	 O’CONNOR AUTOMOTIVE, INC

	 OFF LEASE ONLY

	 OLD SOUTH SALES, INC

	 OMNI AUTO SALES

	 ON THE ROAD AGAIN, INC

	 ON TRACK AUTO MALL, INC

	 ON TRACK AUTO SALES, INC

	 ONYX MOTORS

	 ORANGE PARK DODGE

	 OXMOOR TOYOTA

	 PALAFOX MOTORS, INC

	 PALM AUTOMOTIVE GROUP

	 PALM CHEVROLET OF GAINESVILLE

	 PALMER DODGE, INC

	 PALMETTO PREOWNED

	 PANAMA CITY AUTOMOTIVE

	 PANHANDLE AUTOMOTIVE, INC

	 PARADISE FORD

	 PARADISE MOTOR SALES

	 PARK AUTO MALL, INC

	 PARKS AUTOMOTIVE, INC

	 PARKS CHEVROLET - GEO

	 PARKWAY FORD, INC

	 PARS IMPORTS, INC

	 PATRICK O’BRIEN JR CHEVROLET

	 PATRIOT AUTOMOTIVE SALES & LEASING

	 PATTERSON ENTERPRISE

	 PAUL MILLER FORD, INC

	 PAYLESS CAR SALES

	 PEARCE AUTO SALES, INC

	 PELHAM’S AUTO SALES

	 PENCE NISSAN

	 PENSACOLA AUTO BROKERS, INC

	 PEOPLE’S CHOICE AUTO SALES, INC

	 PERSINGER AUTOMOTIVE

	 PETE MOORE CHEVROLET, INC

	
	 DEALER NAME

	 PETERS AUTO SALES, INC

	 PHIL SMITH CHEVROLET

	 PHILLIPS CHRYSLER-JEEP, INC

	 PIEDMONT AUTO SALES NETWORK

	 PIEDMONT HONDA

	 PILES CHEVY-OLDS-PONTIAC-BUICK

	 PINEVILLE IMPORTS

	 PINNACLE AUTO SALES

	 PITTSBORO FORD

	 PLAINFIELD AUTO SALES, INC

	 PLANET SUZUKI

	 PLATINUM MOTOR CARS

	 PLATTNER AUTOMOTIVE OF VENICE

	 PLATTNER’S

	 PLATTNER’S WINTER PARK

	 POMOCO CHRYSLER/PLY OF HAMPTON

	 PORT MOTORS

	 POTAMKIN CHEVROLET

	 POTAMKIN HYUNDAI, INC

	 POWER PONTIAC GMC OLDSMOBILE

	 PREFERRED AUTO

	 PREMIER FORD LINCOLN MERCURY

	 PREMIERE CHEVROLET, INC

	 PRESTIGE AUTO SALES & RENTALS

	 PRESTON HYUNDAI

	 PREVIOUSLY OWNED MOTORS, INC

	 PRICED RIGHT CARS, INC

	 PRIME MOTORS, INC

	 PRO CAR AUTO GROUP, INC

	 QUALITY CHRYSLER OF GREENWOOD

	 QUALITY IMPORTS

	 QUALITY IMPORTS, INC

	 QUALITY MAZDA VOLKSWAGON

	 QUICK & WISER AUTO SALES

	 R & R WHOLESALE

	 R.H. CARS, INC

	 R.K. CHEVROLET

	 RAIMERS MOTORS, INC

	 RALLYE MOTORS, INC

	 RANDY MARION CHEVROLET PONTIAC

	 RANKL & RIES MOTORCARS, INC

	 RAY SKILLMAN CHEVROLET

	 RAY SKILLMAN EASTSIDE

	 RAY SKILLMAN FORD, INC

	 RAY SKILLMAN OLDSMOBILE & GMC TRUCK, INC

	 RAY SKILLMAN WESTSIDE

	 RDM AUTOMOTIVE GROUP

	 RED HOAGLAND HYUNDAI, INC

	 REDMOND AUTOMOTIVE

	 REGAL PONTIAC, INC

	 RELIABLE TRUCK SALES

	 RELIABLE USED CARS

	 RENAIASSANCE MOTOR CARS LLC

	 RICH MORTONS GLEN BURNIE

	 RICHMOND DODGE HONDA

	 RICHMOND FORD

	 RICK CASE MOTORS, INC

	 RICK DAVENPORT AUTO SALES, INC

	
	 DEALER NAME

	 RICK HENDRICK CHEVROLET

	 RICKS AUTO SALES

	 RICK’S AUTO SALES, INC

	 RINCON SELECT AUTOMOTIVE SALES

	 RIOS MOTORS

	 RIVER CITY AUTO CENTER

	 RIVERCHASE KIA

	 RIVERGATE TOYOTA

	 RIVERSIDE MOTORS, INC

	 ROBKE CHEVROLET COMPANY

	 ROCK BOTTOM AUTO SALES, INC

	 ROD HATFIELD CHEVROLET LLC

	 ROGER DEAN CHEVROLET

	 RON BUTLER MOTORS, LLC

	 RON FERRARI AUTO SALES, INC

	 ROSE CHEVROLET, INC

	 ROSE CITY MOTORS

	 ROSE CITY MOTORS 2

	 ROSS’S AUTO SALES

	 ROUTE 4 AUTO STORE

	 ROY O’BRIEN, INC

	 RPM MOTORSPORTS OF ATLANTA LLC

	 RTI AUTO SALES

	 S S & M AUTOMOTIVE

	 S WILSON’S AUTO SALES

	 S-9 AUTO SALES

	 SAM SWOPE PONTIAC BUICK GMC

	 SANDY SPRINGS TOYOTA

	 SANSING CHEVROLET, INC

	 SATURN OF CHAPEL HILL

	 SATURN OF CHARLOTTE

	 SATURN OF CLEARWATER

	 SATURN OF DECATUR

	 SATURN OF FT MYERS

	 SATURN OF GREENSBORO

	 SATURN OF MARIETTA

	 SATURN OF ORLANDO - SOUTH

	 SATURN OF SOUTH BOULEVARD

	 SATURN OF SOUTHGATE, INC

	 SATURN OF ST PETE

	 SATURN OF THE AVENUES

	 SATURN OF TOLEDO

	 SATURN OF WEST BROWARD

	 SATURN OF WEST PALM BEACH

	 SAULS MOTOR COMPANY, INC

	 SAVANNAH AUTOMOTIVE GROUP

	 SAVANNAH MOTORS

	 SAVANNAH SPORTS AND IMPORTS

	 SAVANNAH TOYOTA & SCION

	 SCHULTZ AUTO BROKERS

	 SCOTTS LOT

	 SECONDARY STRATEGIES, INC

	 SERPENTINI CHEVROLET OF TALLMADGE

	 SERRA AUTOMOTIVE

	 SEXTON AUTO SALES, INC

	 SHAMBURG AUTO SALES

	 SHARPNACK FORD

	 SHEEHAN PONTIAC

	
	 DEALER NAME

	SHEEHY FORD MERCURY
	SHUTT ENTERPRISES
	SIMMONS NISSAN
	SIMS BUICK PONTIAC LLC
	SITTON BUICK COMPANY, INC
	SKINNER MOTORS, INC
	SMART CARS, INC
	SMZ AUTO IMPORT, INC
	SONS ACURA
	SONS HONDA
	SOUTH I-75 CHRYSLER DODGE JEEP
	SOUTHEAST PERFORMANCE MOTORCAR
	SOUTHERN STATES NISSAN, INC
	SOUTHERN TRUST AUTO SALES
	SOUTHERN USED CARS
	SOUTHERN WHOLESALE CARS
	SOUTHGATE FORD
	SOUTHPORT MOTORS
	SOUTHTOWN MOTORS HOOVER
	SOUTHTOWNE
	SOUTHTOWNE ISUZU
	SOUTHWEST AUTO SALES
	SPACE COAST HONDA
	SPARTAN LINCOLN MERCURY
	SPECIALTY AUTO SALES
	SPEEDWAY MOTORS, INC
	SPIRIT FORD INC
	SPITZER AUTOWORLD
	SPITZER BUICK, INC
	SPITZER CHEVROLET COMPANY
	SPITZER DODGE
	SPITZER KIA
	SPITZER LAKEWOOD, INC
	SPITZER MOTOR CENTER, INC.
	SPITZER MOTOR CITY
	SPORT MAZDA
	SPORT MITSUBISHI
	SPURGEON CHEVROLET
	STAN’S CAR SALES
	STAR CARS, INC
	STARLING CHEVROLET
	STARRS CARS AND TRUCKS, INC
	STEARNS FORD
	STEARNS MOTORS OF NAPLES
	STEINLE CHEVROLET BUICK LLC
	STEVE MOORE CHEVROLET
	STEVE RAYMAN CHEVROLET LLC
	STOKES BROWN TOYOTA SCION
	STOKES MITSUBISHI
	STONE MOUNTAIN CHRYSLER JEEP
	STONE MOUNTAIN NISSAN
	STONECREST TOYOTA
	SUBURBAN FORD OF WATERFORD
	SUMMIT PLACE KIA CANTON
	SUN HONDA
	SUN TOYOTA
	SUNCOAST FORD
	SUNNYSIDE NISSAN

	
	 DEALER NAME

	 SUNNYSIDE TOYOTA

	 SUNRISE AUTOMOTIVE

	 SUNSET DODGE, INC

	 SUNSTATE FORD

	 SUPERIOR ACURA

	 SUPERIOR AUTO SALES

	 SUPERIOR CHEVROLET

	 SUPERIOR PONTIAC BUICK GMC, INC

	 SUPRA ENTERPRISES

	 SUSAN SCHEIN CHRYSLER PLYMOUTH

	 SUTHERLIN MAZDA

	 SUTHERLIN NISSAN

	 SUZUKI OF GREENSBORO LLC

	 SUZUKI OF NASHVILLE

	 SWEENEY CHRYSLER DODGE JEEP

	 TAMAROFF MOTORS

	 TAMERON AUTOMOTIVE GROUP

	 TAMIAMI FORD, INC

	 TAMPA HONDALAND

	 TARPON SPRINGS DODGE

	 TAYLOR MORGAN, INC

	 TAYLOR’S AUTO SALES

	 TEAM HONDA

	 TEAM PONTIAC-BUICK-GMC TRUCK

	 TEAMRAY MOTORSPORTS, INC

	 TED’S AUTO SALES, INC.

	 TELEGRAPH CHRYSLER JEEP, INC

	 TERRY LEE HONDA

	 THE 3445 CAR STORE, INC

	 THE AUTO SOURCE, INC

	 THE CAR CABANA OF MELBOURNE, INC

	 THE CAR COMPANY, INC

	 THE CAR CONNECTION, INC

	 THE CAR SHACK

	 THE CAR STORE, INC

	 THE TRUCK FARM OF EASLEY

	 THOMAS & SON, INC

	 THOMASVILLE TOYOTA

	 THOMPSON AUTOMOTIVE, INC

	 THOROUGHBRED CHEVROLET, INC

	 TIPTON FORD LINCOLN

	 TKM AUTO SALES

	 T-MOTOR SALES

	 TOM HOLZER FORD

	 TOM O’BRIEN CHRYSLER JEEP

	 TOM WOOD FORD

	 TOMLINSON MOTOR COMPANY OF GAINESVILLE, INC

	 TONY ON WHEELS, INC

	 TOWN & COUNTRY DODGE, INC

	 TOWN & COUNTRY SELECT

	 TOWN CENTER NISSAN

	 TOWNSEND IMPORTS

	 TOYOTA MALL OF GEORGIA

	 TOYOTA OF BEDFORD

	 TOYOTA OF HOLLYWOOD

	 TOYOTA OF WINTER HAVEN

	 TOYOTA WEST/SCION WEST

	 TRIAD AUTO, INC

  

	
	 DEALER NAME

	 TRI-COUNTY MOTORS

	 TRINITY AUTOMOTIVE

	 TRIPLE M AUTO CONSULTANTS

	 TROPICAL AUTO SALES & RENT TO OWN

	 TROPICAL AUTO SALES LLC

	 TROPICAL CHEVROLET

	 TROPICAL FORD

	 TRUCKS DIRECT

	 U.S. AUTO GROUP, INC

	 ULTIMATE IMAGE AUTO, INC

	 UNITED AUTO BROKERS

	 UNIVERSAL AUTO SALES OF PLANT CITY

	 UNIVERSAL NISSAN

	 UNIVERSITY AUTO & TRUCK

	 UNIVERSITY MOTORS

	 UNO AUTO SALES

	 UPTOWN MOTOR OF NC, INC

	 US 1 CHRYSLER DODGE JEEP

	 US 70 MOTORS LLC

	 US MOTORS

	 USA AUTO & LENDING, INC

	 USA AUTO CENTER, INC

	 USA MOTORCARS

	 USED CAR FACTORY, INC

	 USED CAR MOTOR MALL OF GRAND

	 VA BEACH AUTO SPORTS

	 VADEN NISSAN, INC

	 VADEN VOLKSWAGEN

	 VALUE 1 AUTO SALES

	 VAN DEVERE, INC

	 VANN YORK NISSAN, INC

	 VANN YORK PONTIAC, INC

	 VARSITY LINCOLN MERCURY

	 VEHICLES 4 SALES, INC

	 VENICE NISSAN DODGE, INC

	 VIC BAILEY IMPORTS, INC

	 VICTORIA MOTORS LLC

	 VICTORY CHEVROLET LLC

	 VILLAGE AUTO OUTLET, INC

	 VILLAGE AUTOMOTIVE

	 VILLAGE MOTOR SALES, INC

	 VIN DEVERS, INC

	 VINCE WHIBBS PONTIAC-GMC

	 VOLVO OF FT MYERS

	 VOSS SUZUKI

	 W. HARE & SON

	 W.P.B. AUTOMART/KIA

	 WADE FORD INC

	 WADE RAULERSON

	 WADSWORTH AUTOMOTIVE INV LLC

	 WALCUTT AUTOMOTIVE, LLC

	 WALLACE NISSAN

	 WAYLAND MOTOR SALES

	 WAYNE THOMAS CHEVROLET, INC

	 WEST COAST CAR & TRUCK SALES

	 WESTGATE CHRYSLER JEEP DODGE

	 WESTLAND MOTORS RCP, INC

	 WESTSIDE AUTO WORLD

	
	 DEALER NAME

	 WHITE ALLEN HONDA

	 WHOLESALE, INC

	 WILLETT HONDA SOUTH

	 WILSON BROTHERS

	 WINTER PARK AUTO MALL CORP

	 WMS MOTOR SALES LTD

	 WOODBRIDGE MOTORS, INC

	 WORLD AUTO NET, INC

	 WORLD CLASS AUTO SUPERSTORE

	 WORLD FORD STONE MOUNTAIN

	 WORLD ON WHEELS OF MIAMI, INC

	 WORLD TOYOTA

	 WOW CAR COMPANY

	 WRIGHT’S AUTO SALES

	 WULLENWEBER MOTORS

	 XL1 MOTORSPORTS, INC

	 XTREME AUTO SALES

	 YARK AUTOMOTIVE GROUP, INC

	 YERTON LEASING & AUTO SALES

	 YOUR DEAL AUTOMOTIVENockatunga Asset Sale Agreement

 EXHIBIT 10.4 
  

							
		 	 Waterfront Place
 1 Eagle Street Brisbane QLD 4000
 GPO Box 9925 QLD 4001
 Tel (07) 3228 9333
 Fax
(07) 3228 9444
 www.corrs.com.au
	  	

 Sydney 
 Melbourne 
 Brisbane 
 Perth 
 Magellan Petroleum (Eastern) Pty Ltd 
 Magellan Petroleum Australia Limited 
 Santos QNT
Pty Ltd 
 Vamgas Pty Ltd 
 Nockatunga
Asset 
 Sale Agreement – 
 Magellan Petroleum 
 (Eastern) Pty Ltd and 
 Santos QNT Pty Ltd 
  

 PC/ MAGE0072-9064132    5315424/1 
  
 © Corrs Chambers Westgarth 

 Contents 
  

							
	 1
	 	Interpretation	  	4
				
		 	1.1	  	Definitions	  	4
		 	1.2	  	Construction	  	8
		 	1.3	  	Headings	  	9
			
	 2
	 	Sale of Assets	  	9
				
		 	2.1	  	Agreement to sell and purchase	  	9
		 	2.2	  	Title, property and risk	  	9
		 	2.3	  	Purchase Price allocation	  	9
			
	 3
	 	Crude Oil Purchase Agreement	  	9
				
		 	3.1	  	Notice to terminate	  	9
		 	3.2	  	Entitlement to sell	  	9
		 	3.3	  	Assignment	  	10
		 	3.4	  	Preservation of Seller under Crude Oil Purchase Agreement	  	10
		 	3.5	  	Release by Seller	  	11
			
	 4
	 	Conduct prior to Completion	  	11
				
		 	4.1	  	Decisions under Related Agreements	  	11
			
	 5
	 	Completion	  	11
				
		 	5.1	  	Time and place	  	11
		 	5.2	  	Buyer’s obligations	  	11
		 	5.3	  	Seller’s obligations	  	12
		 	5.4	  	Interdependence of obligations	  	12
		 	5.5	  	Assignment and release of Related Agreements	  	12
			
	 6
	 	Regulatory Approvals	  	12
				
		 	6.1	  	Conditions subsequent	  	12
		 	6.2	  	Obtaining Regulatory Approvals	  	12
		 	6.3	  	Action on non-approval	  	12
			
	 7
	 	Time of Transfer	  	13
				
		 	7.1	  	Completion Date	  	13
			
	 8
	 	Adjustments for Sale Interests	  	13
				
		 	8.1	  	Adjustments	  	13
		 	8.2	  	Reconciliation and payment of adjustments	  	13
		 	8.3	  	Payment by the Buyer	  	14
		 	8.4	  	Payment by the Seller	  	14
		 	8.5	  	Drilling Costs Claims	  	14
		 	8.6	  	Dispute on Adjustments	  	14
		 	8.7	  	Income Tax	  	15
			
	 9
	 	Indemnities	  	15
				
		 	9.1	  	Assumption of Liabilities	  	15
		 	9.2	  	Buyer Indemnity	  	15

  

  
 5315424/1 

							
		 	9.3	  	Seller Indemnity	  	15
			
	10	 	Royalty Interests	  	15
			
	11	 	Termination	  	16
				
		 	11.1	  	Termination by Buyer	  	16
		 	11.2	  	Termination by Seller	  	16
			
	12	 	Warranties, representations and indemnities	  	17
				
		 	12.1	  	Buyer’s warranties	  	17
		 	12.2	  	Seller’s warranties	  	17
		 	12.3	  	Exclusion of other warranties	  	17
		 	12.4	  	Buyer’s acknowledgements	  	17
		 	12.5	  	Warranties subject to other disclosures	  	17
		 	12.6	  	Exclusion of other Warranties	  	18
		 	12.7	  	Limitation of Liability Seller	  	18
		 	12.8	  	Warranty benefit	  	19
		 	12.9	  	Punitive damages and consequential loss	  	19
			
	13	 	Guarantee and indemnity	  	19
				
		 	13.1	  	Guarantee	  	19
		 	13.2	  	Survival	  	19
		 	13.3	  	Continuing Guarantee	  	20
		 	13.4	  	Remedy	  	20
		 	13.5	  	Reinstatement	  	20
			
	14	 	GST	  	20
				
		 	14.1	  	Construction	  	20
		 	14.2	  	Consideration GST exclusive	  	21
		 	14.3	  	Payment of GST	  	21
		 	14.4	  	Timing of GST payment	  	21
		 	14.5	  	Tax invoice	  	21
		 	14.6	  	Adjustment event	  	21
		 	14.7	  	Reimbursements	  	21
			
	15	 	Announcements	  	22
				
		 	15.1	  	Confidentiality	  	22
		 	15.2	  	Permitted disclosures	  	22
		 	15.3	  	Disclosure required by law	  	22
				
	16	 	Notices	  		  	23
				
		 	16.1	  	General	  	23
		 	16.2	  	Method of service	  	23
		 	16.3	  	Address for service	  	23
		 	16.4	  	Service by post	  	24
		 	16.5	  	Service by facsimile	  	24
		 	16.6	  	Form received	  	24
		 	16.7	  	Service after hours	  	24

  

  

			
	5315424/1	  	page ii

							
	17	 	Costs and stamp duty	  	24
				
		 	17.1	  	Legal costs	  	24
		 	17.2	  	Stamp duty	  	25
		 	17.3	  	Registration fee	  	25
			
	18	 	Miscellaneous	  	25
				
		 	 18.1
	  	Amendment	  	25
		 	 18.2
	  	Waiver and exercise of rights	  	25
		 	 18.3
	  	Rights cumulative	  	25
		 	 18.4
	  	Approvals and consent	  	25
		 	 18.5
	  	Further assurance	  	25
		 	 18.6
	  	Governing law and jurisdiction	  	25
		 	 18.7
	  	Assignment	  	26
		 	 18.8
	  	No merger	  	26
		 	 18.9
	  	Counterparts	  	26
		 	 18.10
	  	Time of essence	  	26
		 	 18.11
	  	Computation of time	  	26
		 	 18.12
	  	Effect of execution	  	26
		 	 18.13
	  	Entire understanding	  	26
		
	Schedule 1 - Warranties	  	27
		
	Schedule 2 – Deed of Assignment, Assumption and Release	  	28
		
	Schedule 3 – Purchase Price Allocation	  	37

  

  

			
	5315424/1	  	page iii

	 	Date	December 22, 2009 

 Parties 
 Magellan Petroleum (Eastern) Pty Ltd ABN 16 053 726 711 of Level 10, 145 Eagle Street,
Brisbane, Queensland (Seller). 
 Magellan Petroleum Australia Limited ABN 62 009 728 581 of Level 10,
145 Eagle Street, Brisbane, Queensland (Guarantor) 
 Santos QNT Pty Ltd ABN 33 083 077 196 of Ground Floor,
Santos Centre, 60 Flinders Street, Adelaide, South Australia (Buyer) 
 Vamgas Pty Ltd ABN 76 006 245 110 of
Ground Floor, Santos Centre, 60 Flinders Street, Adelaide, South Australia (Vamgas) 
  
  
 Background 
  

	A	The Seller is the holder of the Nockatunga Sale Interest. 

  

	B	The Seller has agreed to sell to the Buyer, and the Buyer has agreed to buy from the Seller, the Nockatunga Sale Interest. 

  

	C	This document records the terms that the parties have agreed for the sale and purchase of the Nockatunga Sale Interest. 

  
  
 Agreed terms 
  

	1	Interpretation 

  

	1.1	Definitions 

 In this
document: 
 Adjustment Period means the period of 46 days after the Effective Date or such longer period as the parties
may agree as reasonably necessary. 
 ASIC means the Australian Securities and Investments Commission. 
 ATP means an authority to prospect for petroleum granted under the Queensland Petroleum Legislation. 
 Business Day means a day which is not a Saturday, Sunday or public or bank holiday, in Brisbane. 
  

 Ref: PC        MAGE0072-9064132 5315424/1 
  
 © Corrs Chambers Westgarth 

 Buyer’s Warranties means the warranties and representations of the Buyer in
clause 12.1. 
 Carry Continuation Agreement means the document referred to at paragraph (c) of the
definition of “Related Agreements”. 
 Claim means any claim, demand, legal proceedings, liability or cause of
action whatsoever including any claim, demand, legal proceedings or cause of action based in contract (including breach of warranty), based in tort (including misrepresentation or negligence) and under common law or under statute including
Part V or VI of the Trade Practices Act 1974 or like provisions in any State or Territory Legislation, and includes a claim, demand, legal proceedings, liability or cause of action arising from a breach of warranty or under an indemnity
in this document. 
 Coal Seam Gas JOA means the Coal Seam Gas Joint Operating Agreement for ATP 267P (part) and
Petroleum Leases number 33 and 51 dated 9 July 2002 between the Seller, the Buyer and Vamgas. 
 Completion means the
process to occur on the Completion Date in accordance with clause 5. 
 Completion Date means 22 December
2009. 
 Completion Time means the time on the Completion Date when Completion occurs. 
 Corporations Act means the Corporations Act 2001 (Cth). 
 Crude Oil Purchase Agreement means the crude oil purchase agreement dated 1 September 2009 between the Seller and IOR.

 Data Room means the electronic document repository containing documents relating to the Nockatunga Sale Interest,
amongst other assets, kept and operated for the Seller by Intralinks Inc. 
 Deed of Assignment, Assumption and Release
means the deed in the form or substantially the form set out in schedule 2. 
 Disclosure Material means:

  

	 	(a)	all information contained in this document; and 

  

	 	(b)	all information disclosed by the Seller to the Buyer in writing prior to the Execution Date. 

 Drilling Costs Claims means all and any claims for or liabilities to contributions, including under AFEs, (and whether actual,
contingent , intended or prospective) in respect of the settlement sum, drilling rig costs, associated drilling rig demobilisation costs, and unrecovered mobilisation and termination costs with respect to the Santos ATP 267P –WDI settlement
claim, under either or both Nockatunga JOAs made or intended to be made against the Seller on or before the Execution Date and which remained unpaid as at the Execution Date, being in the amount of approximately $229,200. 
 Effective Date means 1 January 2010. 
  

  
 page 5 

 Encumbrance means any mortgage, charge, lien, pledge, security interest, adverse
interest or other encumbrance. 
 Execution Date means the date of this document. 
 Existing JOA Approvals means all resolutions, decisions , operating committee determinations, cash calls and AFEs under any of the
Related Agreements which commit the Seller to or require the Seller to meet expenditure under the relevant Related Agreement and which have been made or approved as at the Execution Date. 
 Government Agency means: 
  

	 	(a)	any Commonwealth, State or Local government; and 

  

	 	(b)	any government authority or semi-government authority (including a judicial body) that has legal power to require another person to act or not act in a particular way
or to authorise a particular act. 

 GST means GST within the meaning of the GST Act and includes penalties
and interest. 
 GST Act means the A New Tax System (Goods and Services Tax) Act 1999 (as amended). 
 GST Law has the same meaning given to that expression in the GST Act. 
 IOR means IOR Energy Pty Ltd ABN 60 010 504 444. 
 Liability Cap means $1.725 million. 
 Loss means, in relation to any
person, a damage, loss, cost, expense or liability incurred by the person, however arising (including contractual, tortious, legal, equitable or pursuant to statute). 
 Nockatunga JOAs means the agreements referred to at paragraphs (a) and (b) of the definition of “ Related Agreements”. 
 Nockatunga Sale Interest means : 
  

	 	(a)	the Seller’s 40.936% legal and beneficial interest in each of the Petroleum Tenements; and 

  

	 	(b)	all the Seller’s right, title and interest under each of the Related Agreements. 

 Party means a party to this document. 
 Petroleum has the meaning under the Queensland Petroleum Legislation. 
 Petroleum Tenements means each of ATP 267P, PL 33, PL 50, PL 51, PL 244 and PL 245. 
 PL means a petroleum lease granted under the Queensland Petroleum Legislation. 
 PL Area JOA means the
Petroleum Lease 33 and ATP 267P (part) PL Area – Joint Operating Agreement dated 29 September 1988 between the Seller, the Buyer and Vamgas. 
  

  
 page 6 

 Prior Related Agreements Obligations means all the obligations and liabilities of the
Seller under each Related Agreement which accrued prior to the Effective Date other than the Drilling Costs Claims. 
 Purchase Price means $6.3 million. 
 Queensland Petroleum Legislation means the Petroleum and Gas
(Production and Safety) Act 2004 and the Petroleum Act 1923 of Queensland. 
 Reconciliation has the meaning
under clause 8.6. 
 Regulatory Approvals means the consents, approvals and registration of the Government of
Queensland and any government department, government agency or representative thereof required under the Queensland Petroleum Legislation in order to effect the transfer of the Seller’s interests in the Petroleum Tenements to the Buyer,
including, but not limited to: 
  

	 	(a)	registration of the transfer of the Nockatunga Sale Interest to the Buyer with Queensland Mines and Energy; and 

  

	 	(b)	registration of the transfer of any environmental authority associated with the Nockatunga Sale Interest with the Queensland Department of Environment and Resource
Management. 

 Related Agreements means each of: 
  

	 	(a)	the Coal Seam Gas JOA; 

  

	 	(b)	the PL Area JOA; and 

  

	 	(c)	the Chimelle- Minora Carry Continuation Agreement- PL Area dated 27 October 1988 as varied by several deeds of assignment and which is now between Vamgas and the
Seller. 

 Related Agreements Obligations means all the obligations and liabilities of the Seller under each
Related Agreement which arise on and from the Effective Date. 
 Related Agreements Participant means each counterparty to
a Related Agreement other than the Seller and the Buyer. 
 Related Body Corporate has the same meaning given to that term
in section 50 of the Corporations Act. 
 Royalty Interests means: 
  

	 	(a)	2% overriding royalty on all oil, gas and associated hydrocarbons produced from the Petroleum Tenements to International Oil Lease Service Corp pursuant to a royalty
agreement a copy of which is set out in annexure B of the Nockatunga JOAs; and 

  

	 	(b)	the royalty on oil, gas and condensate from the Petroleum Tenements in favour of Banner Petroleum Corporation pursuant to the terms of a royalty agreement, a copy of
which forms annexure C of the Nockatunga JOAs. 

 Security Interest means an interest created or otherwise
arising in or over property under a bill of sale, mortgage, charge, lien, pledge, finance lease or

  

  
 page 7 

 
trust by way of security for the payment of a debt or any other monetary obligation or the performance of any other obligation and includes, but is not limited to, any agreement to grant or
create any of the above, but does not include a retention of title provision under a goods or services supply contract. 
 Transfer Documents means all transfer forms and other documents required under the Queensland Petroleum Legislation in order to effect the transfer of the Seller’s registered interests in the Petroleum Tenements to the Buyer.

 Warranties means the warranties and representations of the Sellers set out in schedule 1. 
 Warranty Claim means a Claim for breach of a Warranty. 
  

	1.2	Construction 

 Unless
expressed to the contrary, in this document: 
  

	 	(a)	words in the singular include the plural and vice versa; 

  

	 	(b)	any gender includes the other genders; 

  

	 	(c)	if a word or phrase is defined its other grammatical forms have corresponding meanings; 

  

	 	(d)	“includes” means includes without limitation; 

  

	 	(e)	no rule of construction will apply to a clause to the disadvantage of a party merely because that party put forward the clause or would otherwise benefit from it;

  

	 	(f)	a reference to: 

  

	 	(i)	a person includes a partnership, joint venture, unincorporated association, corporation and a government or statutory body or authority; 

  

	 	(ii)	a person includes the person’s legal personal representatives, successors, assigns and persons substituted by novation; 

  

	 	(iii)	any legislation includes subordinate legislation under it and includes that legislation and subordinate legislation as modified or replaced; 

 

	 	(iv)	an obligation includes a warranty or representation and a reference to a failure to comply with an obligation includes a breach of warranty or representation;

  

	 	(v)	a right includes a benefit, remedy, discretion or power; 

  

	 	(vi)	time is to local time in Brisbane; 

  

	 	(vii)	“$” or “dollars” is a reference to Australian currency; 

  

	 	(viii)	this or any other document includes the document as novated, varied or replaced and despite any change in the identity of the parties; 

  

  
 page 8 

	 	(ix)	writing includes any mode of representing or reproducing words in tangible and permanently visible form, and includes fax transmissions; 

  

	 	(x)	this document includes all schedules and annexures to it; and 

  

	 	(xi)	a clause, schedule or annexure is a reference to a clause, schedule or annexure, as the case may be, of this document; 

  

	 	(g)	if the date on or by which any act must be done under this document is not a Business Day, the act must be done on or by the next Business Day; and

  

	 	(h)	where time is to be calculated by reference to a day or event, that day or the day of that event is excluded. 

  

	1.3	Headings 

 Headings do not
affect the interpretation of this document. 
  

	2	Sale of Assets 

  

	2.1	Agreement to sell and purchase 

 The Seller agrees to sell the Nockatunga Sale Interest to the Buyer, and the Buyer agrees to buy that interest from the Seller, free from any Encumbrance or third party interests (other than those arising under the Related Agreements and
the Royalty Interests), for the Purchase Price, and otherwise on the terms and conditions of this document. 
  

	2.2	Title, property and risk 

 The title to, property in and risk of the Nockatunga Sale Interest: 
  

	 	(a)	until the Effective Date, remains solely with the Seller; and 

  

	 	(b)	passes to the Buyer on and from the Effective Date. 

  

	2.3	Purchase Price allocation 

 The Purchase Price is allocated to the Nockatunga Sale Interest in accordance with schedule 3. 
  

	3	Crude Oil Purchase Agreement 

  

	3.1	Notice to terminate 

 Within two Business Days of the date of this Agreement the Seller must give to IOR 6 months’ written notice terminating the Crude Oil Purchase Agreement in accordance with clause 15.1 of that agreement (Termination
Notice). 
  

	3.2	Entitlement to sell 

 The
Seller shall be entitled to sell to its own account under the Crude Oil Purchase Agreement its share of all crude oil produced from the Production Area prior to the Effective Date including any crude oil held in stock or inventory immediately prior
to the Effective Date. 
  

  
 page 9 

	3.3	Assignment 

  

	 	(a)	Within two Business Days of the Execution Date, the Seller will notify IOR of its intention to assign its rights and obligations under the Crude Oil Purchase Agreement
to the Buyer. The Seller and Buyer shall negotiate in good faith with IOR for the Buyer to take an assignment of the Seller’s rights and obligations under the Crude Oil Purchase Agreement with effect on and from the Effective Date for the
balance of the period of the Termination Notice still to run from the Effective Date (Balance Termination Period). 

  

	 	(b)	The terms and conditions of such assignment must be acceptable to both the Seller and the Buyer acting reasonably but the Buyer must account to the Seller for the
proceeds of sale of the share of production relating to the Nockatunga Sale Interest, produced prior to the Effective Date, whether or not actually sold until after that date. 

  

	 	(c)	If such assignment is effected then the Buyer shall indemnify the Seller against all liability arising under the Crude Oil Purchase Agreement on and from the Effective
Date for the Balance Termination Period. 

  

	 	(d)	If an assignment under clause 3.3(a) is effected then the Seller shall indemnify the Buyer against all liability under the Crude Oil Purchase Agreement relating
to the period up to the Effective Date. 

  

	3.4	Preservation of Seller under Crude Oil Purchase Agreement 

 If an assignment of the Crude Oil Purchase Agreement is not effected in accordance with clause 3.3, then on and from the Effective Date for the Balance Termination Period: 
  

	 	(a)	the Buyer shall cause that proportion of crude oil production from the Production Area (as defined under the Crude Oil Purchase Agreement) which occurs on and from the
Effective Date and which would have been to the Seller’s account if not for the sale effected under this Agreement, to be provided to IOR on behalf of the Seller; . 

  

	 	(b)	all moneys received by the Seller under the Crude Oil Purchase Agreement for the sale of the crude oil referred to in subclause (a) shall be accounted to the
Buyer, but all moneys received by the Seller under the Crude Oil Purchase Agreement for the sale of crude oil which had been produced from the Production Area prior to the Effective Date (even if held in stock or inventory at that date) shall be to
the Seller’s account; 

  

	 	(c)	the Seller shall be acting as agent for the Buyer with respect to the sale of crude oil under the Crude Oil Purchase Agreement; and 

  

	 	(d)	on seven Business Days notice to the Buyer, the Seller may agree with IOR to the earlier termination of the Crude Oil Purchase Agreement prior to the expiration of the
Balance Termination Period. 

  

  
 page 10 

	3.5	Release by Seller 

 Subject to the Buyer satisfying its obligations under clause 3.4, the Seller agrees to release the Buyer in respect of any loss, claim, liability and expense suffered or incurred by the Seller relating to its obligations under the
Crude Oil Purchase Agreement during the Balance Termination Period. 
  

	4	Conduct prior to Completion 

  

	4.1	Decisions under Related Agreements 

  

	 	(a)	On and from the Execution Date until the Effective Date, the Seller will carry on business in respect of the Nockatunga Sale Interest in the ordinary and normal course
and do everything reasonably possible to preserve the value of the Nockatunga Sale Interest. In particular, the Seller must not do any of the following without the prior written consent of the Buyer: 

  

	 	(i)	make or participate in any material decision under any Related Agreement. For the purposes of this clause a decision will be of a material nature if it would involve
the incurrence by the Seller of a liability in excess of $50,000; 

  

	 	(ii)	permit the creation of any Encumbrance over the Nockatunga Sale Interest; or 

  

	 	(iii)	cancel any debts or waive any Claims or rights of substantial value in relation to the Nockatunga Sale Interest, except as permitted by this agreement.

  

	 	(b)	Nothing in this clause 4 will prevent the Seller from incurring expenditure or undertaking actions in accordance with Existing JOA Approvals. However the Seller
will be entitled to vote against, refuse or otherwise deny any proposal or decision under any of the Related Agreements which would involve the incurrence by the Seller of expenditure, outside the Existing JOA Approvals, on or before the Effective
Date. 

  

	5	Completion 

  

	5.1	Time and place 

 Completion will occur between the hours of 9.00 am and 4.00 pm on the Completion Date at the offices of Corrs Chambers Westgarth, Level 35, Waterfront Place, 1 Eagle Street, Brisbane, Queensland or any other time or
place agreed to in writing by the Buyer and the Sellers. 
  

	5.2	Buyer’s obligations 

 At Completion the Buyer must: 
  

	 	(a)	pay the Purchase Price by the transmission of cleared funds to the bank account nominated by the Seller, such nomination to be made in writing not less than 48 hours
prior to the Completion Date; 

  

  
 page 11 

 and 
  

	 	(b)	execute all Transfer Documents which it has not already signed; and 

  

	 	(c)	deliver to the Seller, duly executed by the Buyer and Vamgas, the Deed of Release, Assignment and Assumption. 

  

	5.3	Seller’s obligations 

 At Completion the Seller must deliver to the Buyer the Transfer Documents, duly executed by the Seller. 
  

	5.4	Interdependence of obligations 

 The obligations of the parties in respect of Completion are to be interdependent. All actions at Completion are taken to take place simultaneously and no delivery or payment will be taken to have been made until all deliveries and payments
have been made. 
  

	5.5	Assignment and release of Related Agreements 

 On the Completion Date, each of the Buyer, the Seller and Vamgas shall execute and be bound by the Deed of Assignment, Assumption and Release with the intent that on and from the Completion Date the
Seller will assign its rights under the Related Agreements and the Buyer will assume the Related Agreements Obligations and the Seller’s obligations in respect of the Royalty Interests. 
  

	6	Regulatory Approvals 

  

	6.1	Conditions subsequent 

 The transfer of the Nockatunga Sale Interest from the Seller to the Buyer is subject to and conditional upon the obtaining of the Regulatory Approvals within 18 months of the Completion Date. 
  

	6.2	Obtaining Regulatory Approvals 

 As soon as practicable after Completion, the Seller shall apply for the Regulatory Approvals and each party shall do all things within its power (including executing documents) necessary to obtain the Regulatory Approvals. 
  

	6.3	Action on non-approval 

 If: 
  

	 	(a)	any of the Regulatory Approvals are not obtained within the timeframe referred to in clause 6.1 or such later date as the parties may reasonably agree
(Non-Approved Dealing); and 

  

	 	(b)	the Seller and the Buyer fail after genuine negotiations to preserve to the Buyer’s reasonable satisfaction (confirmed in writing) its beneficial interest in that
part of the Nockatunga Sale Interest relating to the Non-Approved Dealing within a period of 20 Business Days after the date referred to in clause 6.1, 

  

  
 page 12 

 then the parties agree that: 
  

	 	(c)	this agreement automatically terminates, whereupon all monies paid by a party under this agreement must be refunded to that party by the party that received the monies
and the parties will do all things necessary to place the parties in the same position as they would have been had this agreement not been entered into and Completion had not occurred, including re-assigning the Nockatunga Sale Interest to the
Sellers. 

  

	7	Time of Transfer 

  

	7.1	Completion Date 

  

	 	(a)	The parties acknowledge and agree that subject to Completion occurring the transfer of the Nockatunga Sale Interest shall be deemed to take effect from the Effective
Date, subject to the operation of clause 8. 

  

	 	(b)	The parties agree to waive the requirements of clause 17.4 of the PL Area JOA and clause 17.6 of the Coal Seam Gas JOA. 

  

	8	Adjustments for Sale Interests 

  

	8.1	Adjustments 

 The Parties
agree to further payments which shall not affect the Purchase Price, following Completion at the end of the Adjustment Period on the following basis: 
  

	 	(a)	the Seller is entitled to all revenue and proceeds of production from the Nockatunga Sale Interest, as determined in accordance with the Related Agreements, in respect
of the period prior to the Effective Date which includes such production which is held in stock or inventory immediately prior to the Effective Date; 

  

	 	(b)	the Buyer is entitled to all revenue and proceeds of production from the Nockatunga Sale Interest, as determined in accordance with the Related Agreements, which is
produced on and from the Effective Date; 

  

	 	(c)	the Seller will remain responsible for cash calls in relation to the Nockatunga Sale Interest issued to the Seller prior to the Execution Date in respect of expenditure
incurred and works performed prior to the Effective Date, and which remain unpaid at Completion; and 

  

	 	(d)	subject to clause 8.5, the Seller will remain responsible for all other liabilities and expenses in respect of the Nockatunga Sale Interest relating to the
period prior to the Effective Date. 

  

	8.2	Reconciliation and payment of adjustments 

 The Buyer and the Seller must undertake a reconciliation of adjustments in accordance with clauses 8.1, 8.3 and 8.4, during the Adjustment Period and: 
  

	 	(a)	in the event the additions in favour of the Seller pursuant to clause 8.3 exceed the deductions in favour of the Buyer pursuant to clause 8.4, then the
Buyer must pay the amount owing to the Seller not later than the end of the Adjustment Period; 

  

  
 page 13 

	 	(b)	in the event the deductions in favour of the Buyer exceed the additions in favour of the Seller, then the Seller must pay the amount owing to the Buyer not later than
the end of the Adjustment Period. 

 To enable reconciliation by each Party of the adjustments due and owing, the
Seller and the Buyer must, not later than seven days prior to expiry of the Adjustment Period, provide written notice to the other party of the amount of all adjustments claimed and payable, together with detailed particulars and supporting
calculations to enable the amounts to be verified. 
  

	8.3	Payment by the Buyer 

 Further to clause 8.1, the Seller shall be entitled to receive, and the Buyer shall be obliged to pay to the Seller an amount in respect of: 
  

	 	(a)	any cash call, liability, payment or expense paid by the Seller in relation to the Nockatunga Sale Interest relating to the period on and from the Effective Date; and

  

	 	(b)	any revenue or proceeds of production received by or payable to the Buyer in respect of the Nockatunga Sale Interest in relation to production prior to the Effective
Date, including from the sale of that production which was unsold but in stock or inventory immediately prior to the Effective Date. 

  

	8.4	Payment by the Seller 

 Further to clause 8.1, and subject to clause 8.5 the Buyer shall be entitled to receive, and the Seller shall be obliged to pay to the Buyer an amount in respect of: 
  

	 	(a)	any cash call in respect of the Nockatunga Sale Interest issued prior to the Execution Date relating to work done or liability incurred or relating to the period prior
to the Effective Date and remaining unpaid as at the Effective Date; and 

  

	 	(b)	any payment in respect of the Royalty Interests relating to the period prior to the Effective Date and remaining unpaid as at the Effective Date.

  

	8.5	Drilling Costs Claims 

 On
and from Completion each of Vamgas and the Buyer release and indemnify the Seller from all and any lability for the Drilling Costs Claims. 
  

	8.6	Dispute on Adjustments 

  

	 	(a)	Any dispute between the parties concerning the adjustments of income and expenditure on the Nockatunga Sale Interest shall be resolved by first referring the matter to
senior managers with capacity to bind each of the Seller and the Buyer or their nominees. 

  

  
 page 14 

	 	(b)	If those persons cannot resolve the dispute within 10 Business Days then the matter shall be referred for determination to a Brisbane based partner of a major
accounting firm in Australia appointed by the parties, of if they cannot agree, as appointed by the President for the time being of the Institute of Chartered Accountants Queensland. 

  

	 	(c)	That appointee shall act as an expert. 

  

	 	(d)	The parties may make written submissions to the expert and must provide the other party with a copy of those submissions. 

  

	 	(e)	The decision of the expert will be final and binding on the parties in the absence of manifest error. 

  

	 	(f)	The costs of the expert will be borne equally by the Seller and the Buyer. 

  

	8.7	Income Tax 

 The Seller
acknowledges that the Buyer will include all income and expenditure in relation to the Nockatunga Sale Interest on and after the Effective Date in its income tax return subject to the revenue and income referred to in clauses 8.1(a) and
8.3(b) being included in the income of the Seller. 
  

	9	Indemnities 

  

	9.1	Assumption of Liabilities 

 On and from the Effective Date the Buyer shall assume and comply with all the Related Agreements Obligations. 
  

	9.2	Buyer Indemnity 

 The
Buyer shall indemnify and keep the Seller indemnified against all Claims relating to the Related Agreements Obligations provided that this indemnity does not extend to Related Agreements Obligations which relate to the period before the Effective
Date, which obligations will remain the liability of the Seller, but this indemnity does apply to the Drilling Costs Claims. 
  

	9.3	Seller Indemnity 

 The
Seller shall indemnify and keep the Buyer indemnified against all Claims relating to the Prior Related Agreements Obligations under the Related Agreements. 
  

	10	Royalty Interests 

  

	 	(a)	On and from Completion the Buyer assumes and must pay, discharge, indemnify and hold the Seller harmless against, the Seller’s obligations accruing on and from the
Effective Date in respect of each of the Royalty Interests. The Buyer must execute any documentation required by the Seller to assume and become bound by the Royalty Interests to the extent of the Nockatunga Sale Interest, with effect from the
Effective Date. 

  

  
 page 15 

	 	(b)	The Seller shall indemnify and keep the Buyer indemnified against all Claims for unpaid or unsatisfied liability in respect of the Royalty Interests incurred by the
Seller up to the Effective Date. 

  

	11	Termination 

  

	11.1	Termination by Buyer 

 If:

  

	 	(a)	the Seller fails to effect Completion on or before the Completion Date, other than solely due to the Buyer’s default; 

  

	 	(b)	the Seller fails to comply with any term of this document that is capable of remedy and following notice from the Buyer fails to remedy the non-compliance within seven
days of such notice; 

  

	 	(c)	the Seller fails to comply with any material term of this document that is incapable of remedy; 

  

	 	(d)	the Seller is insolvent; 

  

	 	(e)	an order is made for the winding up of the Seller; or 

  

	 	(f)	a Warranty is breached or is otherwise false or inaccurate in a way which could or does result in a material Loss to the Buyer; 

 the Buyer may, on or before Completion, and without prejudice to any other remedy available to it, terminate this document by notice to the
Seller. 
  

	11.2	Termination by Seller 

 If: 
  

	 	(a)	the Buyer fails to effect Completion on the Completion Date, other than solely due to the Seller’s default; 

  

	 	(b)	the Buyer fails to comply with any term of this document that is capable of remedy and following notice from the Seller fails to remedy the non-compliance within seven
days of such notice; 

  

	 	(c)	the Buyer fails to comply with any material term of this document that is incapable of remedy; 

  

	 	(d)	the Buyer is insolvent; or 

  

	 	(e)	an order is made for the winding-up of the Buyer or administration in insolvency of the property of the Buyer; 

 the Seller may on or before Completion, and without prejudice to any other remedy available to it, terminate this document by notice to the
Buyer. 
  

  
 page 16 

	12	Warranties, representations and indemnities 

  

	12.1	Buyer’s warranties 

 The Buyer warrants that it has full corporate power and authority to enter into this agreement and that all necessary corporate action has been taken to enable it to enter into and perform this agreement. 
  

	12.2	Seller’s warranties 

 The Seller warrants upon the date of this document and as at the Completion Date as to the matters set out in schedule 1. 
  

	12.3	Exclusion of other warranties 

 The Buyer acknowledges that other than as set out in schedule 1 the Seller makes no warranties or representations (express or implied) in respect of the Nockatunga Sale Interest. Without limiting the foregoing the Buyer
expressly acknowledges that no warranty is given by the Seller in relation to: 
  

	 	(a)	any geological, geophysical, engineering, economic, fiscal or other interpretations or evaluations by the Seller or any other party in connection with the Nockatunga
Sale Interest; 

  

	 	(b)	future matters, including future or forecast costs, revenues or profit; 

  

	 	(c)	reserves, resources or life of field; or 

  

	 	(d)	markets. 

  

	12.4	Buyer’s acknowledgements 

 The Buyer acknowledges that it purchases the Nockatunga Sale Interest subject to and with the full understanding of the rights, liabilities and obligations that may arise under the Related Agreements on the basis that it and its Related
Bodies Corporate hold the balance of interests in the Petroleum Tenements and under the Related Agreements. 
  

	12.5	Warranties subject to other disclosures 

 The Buyer acknowledges and agrees that the Seller has disclosed or is deemed to have disclosed against the Warranties and the Buyer is aware of, and will be treated as having actual knowledge of, all
facts, matters and circumstances that: 
  

	 	(a)	are provided for or described in this document and the Disclosure Material; 

  

	 	(b)	are disclosed in, or otherwise evident from the information contained in all documents and information made available by or on behalf of the Seller to the Buyer or its
representative advisers which were contained within the Data Room; 

  

	 	(c)	 would have been disclosed to the Buyer had it conducted searches of records available for public inspection maintained by the Australian Securities and
Investments Commission, Queensland Mines and Energy,

  

  
 page 17 

	 	 
the High Court of Australia, the Federal Court of Australia, the Supreme Court of Queensland and the National Native Title Tribunal; or 

  

	 	(d)	were, or would reasonably have been known to the Buyer as of the date of this document having regard to its knowledge and its opportunity to make enquiries of the
Seller and having regard to its existing interests under the Related Agreements and in the Petroleum Tenements. 

 The Warranties are given subject to the disclosures or the deemed disclosures as described in this clause. The Seller will have no liability under the Warranties to the extent that disclosure is made or deemed to have been made against the
Warranties under this clause. 
  

	12.6	Exclusion of other Warranties 

 Subject to any law to the contrary and except as provided in the Warranties, all terms, conditions, warranties and statements, whether express, implied, written, oral, collateral, statutory or otherwise are excluded and the Seller disclaims
all liability in relation to these to the maximum extent permitted by law. 
  

	12.7	Limitation of Liability Seller 

  

	 	(a)	The Seller is not liable under a Claim for breach of Warranty unless the amount finally agreed or adjudicated to be payable in respect of a Claim:

  

	 	(i)	exceeds $50,000; and 

  

	 	(ii)	either alone or together with the amount finally agreed or adjudicated as payable in respect of all other Claims for breach of Warranty against the Seller exceeds
$100,000. 

  

	 	(b)	The maximum liability of the Seller for: 

  

	 	(i)	breach of the Warranty as to title to the Nockatunga Sale Interest is the Purchase Price; and 

  

	 	(ii)	all breaches of other Warranties and for all other breaches of this agreement by the Seller is limited to the Liability Cap. 

  

	 	(c)	Further the Seller is not liable under any Claim relating to a breach of Warranty or other failure to comply with this document unless notice of the Claim (including
reasonable details of the circumstances giving rise to the Claim) is given to the Seller within 12 months after the Completion Date. 

  

	 	(d)	Where the Buyer discovers a breach of Warranty prior to Completion then its only remedy shall be to terminate this document in accordance with clause 11.1(f)
(whether or not the breach could or does result in a material loss to the Buyer). The Buyer shall have no right to claim damages from the Seller. 

  

	 	(e)	The Seller is not liable for any Warranty Claim to the extent that: 

  

	 	(i)	 the Warranty Claim is solely as a result of or in consequence of any voluntary act, voluntary or negligent omission, transaction or

  

  
 page 18 

	 	 
arrangement of or on behalf of the Buyer after Completion (unless the act, omission, transaction or arrangement occurs pursuant to an express right under this document); or

  

	 	(ii)	the Warranty Claim is as a result of or in respect of any legislation not in force at the Execution Date, including legislation which takes effect retrospectively; or

  

	 	(iii)	the Warranty Claim is increased as a result of action taken or not taken as the case may be, by the Seller after consultation with and with the prior written approval
of the Buyer. 

  

	12.8	Warranty benefit 

 The
Warranties are given for the benefit of the Buyer and may not be relied on by any other person. 
  

	12.9	Punitive damages and consequential loss 

 The Buyer will not be entitled to make a Warranty Claim for any exemplary or punitive loss, or any indirect or consequential loss. In this clause, “indirect or consequential loss” means special
damages under the principle known as the second limb of Hadley v Baxendale. For the avoidance of doubt, this clause does not prevent the Buyer from recovering general damages under the principle known as the first limb of Hadley v
Baxendale. 
  

	13	Guarantee and indemnity 

  

	13.1	Guarantee 

 In
consideration of the Buyer entering into this document at the request of the Guarantor (the receipt and good value of which is acknowledged by the Guarantor): 
  

	 	(a)	the Guarantor guarantees to the Buyer the due and punctual payment, performance and observance by the Seller of all of its liabilities and obligations to the Buyer
under or in connection with this agreement, whether monetary or non-monetary, present or future, actual or contingent (the Guaranteed Obligations); and 

  

	 	(b)	the Guarantor indemnifies the Buyer against all liability, loss, damage, cost and expense which the Buyer may sustain or incur and all actions, proceedings, claims or
demands made against the Buyer as a result of any default by the Seller in the payment, performance and observance of the Guaranteed Obligations; 

 PROVIDED that the maximum liability of the Guarantor under this clause 13 shall not exceed the maximum liability of the Seller under this agreement. 
  

	13.2	Survival 

 The liability
of the Guarantor under this clause 13 will not be released or discharged (in whole or in part) by: 
  

	 	(a)	any time, concession, waiver or other indulgence being given by the Buyer to the Seller (or any surety) for or in relation to the observance or performance of the
Sellers’ obligations under this document; 

  

  
 page 19 

	 	(b)	the liquidation, administration, bankruptcy or insolvency of the Guarantor or the Seller; or 

  

	 	(c)	by anything done or omitted to be done by the Seller or by anything else which, but for this clause 13, might operate to release wholly or partially or
discharge or otherwise exonerate the Guarantor from its liability under this guarantee and indemnity. 

  

	13.3	Continuing Guarantee 

 The
guarantee and indemnity given under this clause 13: 
  

	 	(a)	is a continuing guarantee and indemnity and will remain in force until the whole of the obligations of the Seller have been duly performed and satisfied in full;

  

	 	(b)	is irrevocable; and 

  

	 	(c)	constitutes a separate and independent obligation of the Guarantor. 

  

	13.4	Remedy 

 The Buyer may
enforce the guarantee and indemnity given under this clause 13 without first making any demand or taking any action or proceedings to enforce its rights or remedies against the Seller. 
  

	13.5	Reinstatement 

 The
obligations of the Guarantor under this clause 13 will continue to be effective or will be reinstated if at any time any amount payable or paid by the Seller to the Buyer under this document is avoided or any payment by the Seller to the
Buyer must be replaced or restored, either in whole or in part, by the Buyer for any reason whatsoever and the liability of the Guarantor will extend to those payments as if those payments had not been made. 
  

	14	GST 

  

	14.1	Construction 

 In this
clause 14: 
  

	 	(a)	words and expressions which are not defined in this document but which have a defined meaning in GST Law have the same meaning as in the GST Law;

  

	 	(b)	GST Law has the same meaning given to that expression in the A New Tax System (Goods and Services Tax) Act 1999; and 

  

	 	(c)	references to GST payable and input tax credit entitlement include GST payable by, and the input tax credit entitlement of, the representative member for a GST group of
which the entity is a member. 

  

  
 page 20 

	14.2	Consideration GST exclusive 

 Unless otherwise expressly stated, all prices or other sums payable or consideration to be provided under this document are exclusive of GST. 
  

	14.3	Payment of GST 

  

	 	(a)	Notwithstanding clause14.3(b), if GST is payable on any supply made by a Party (or any entity through which that Party acts) (Supplier) under or in
connection with this document, the recipient will pay to the Supplier an amount equal to consideration in respect of the taxable supply (exclusive of GST) multiplied by the rate of goods and services tax. 

  

	 	(b)	The parties agree that the sale of the Nockatunga Sale Interest by the Seller to the Buyer constitutes the supply of a going concern pursuant to section 38-325 of A
New Tax System (Goods and Services Tax) Act 1999. The Buyer warrants that it is registered for GST purposes under the GST Law and shall remain registered until Completion. 

  

	14.4	Timing of GST payment 

 The recipient will pay the amount referred to in clause 14.3 in addition to and at the same time that the consideration for the supply is to be provided under this document. 
  

	14.5	Tax invoice 

 The Supplier
must deliver a tax invoice or an adjustment note to the recipient before the Supplier is entitled to payment of an amount under clause 14.3. The recipient can withhold payment of the amount until the Supplier provides a tax invoice or an
adjustment note, as appropriate. 
  

	14.6	Adjustment event 

 If an
adjustment event arises in respect of a taxable supply made by a Supplier under this document, the amount payable by the recipient under clause 14.3 will be recalculated to reflect the adjustment event and a payment will be made by the
recipient to the Supplier or by the Supplier to the recipient as the case requires. 
  

	14.7	Reimbursements 

 Where a
Party is required under this document to pay, reimburse or indemnify the other Party for any loss, expense or outgoing, the amount to be paid, reimbursed or indemnified by the first Party will be the sum of: 
  

	 	(a)	the amount of the expense or outgoing less any input tax credits in respect of the expense or outgoing to which the other Party is entitled; and

  

	 	(b)	if the payment or reimbursement is subject to GST, an amount equal to that GST. 

  

  
 page 21 

	15	Announcements 

  

	15.1	Confidentiality 

 Subject
to clause 15.2, the Parties must maintain absolute confidentiality concerning the existence and terms of this document and no public announcement or communication relating to the negotiations of the Parties or the existence, subject matter or
terms of this document may be made or authorised by or on behalf of a Party without the prior written approval of the other party. 
  

	15.2	Permitted disclosures 

 A
Party may make any disclosure otherwise prohibited pursuant to clause 15.1: 
  

	 	(a)	to the extent necessary to any professional adviser, financial adviser, banker, insurance broker, insurer, financier or auditor where that person is obliged to keep the
information confidential; 

  

	 	(b)	subject to clause 15.3, to the extent necessary to comply with any applicable law, the terms of any licence or authority, or any requirement of any regulatory
body (including ASIC or a stock exchange); 

  

	 	(c)	to the Securities Exchange Commission of the United States and any other United States regulatory authorities to the extent necessary to comply with any US laws or
regulations applying to the Seller or its holding companies or ultimate parent company; 

  

	 	(d)	to any of its officers or employees, or the officers or employees of a Related Body Corporate, to whom it is necessary to disclose the information;

  

	 	(e)	to the extent necessary to obtain the consent of any third party to any term of, or to any act pursuant to, this document including disclosure to Related Agreements
Participants; 

  

	 	(f)	to the extent necessary to enforce its rights or to defend any Claim or action under this document; 

  

	 	(g)	to a Related Body Corporate of the party, provided that Related Body Corporate first undertakes to keep the information confidential; 

  

	 	(h)	in the case of the Buyer to any potential bona fide assignee of its interests or rights provided the assignee undertakes to keep the information to be disclosed
confidential; or 

  

	 	(i)	where the information the subject of the disclosure has come into the public domain other than through a breach of this document by the party seeking to make the
disclosure. 

  

	15.3	Disclosure required by law 

 In relation to any disclosure that a Party is required to make in order to comply with any applicable law, the terms of any licence or authority, or any

  

  
 page 22 

 
requirement of any regulatory body (including ASIC or a stock exchange), the party making the disclosure must: 
  

	 	(a)	disclose no more than is strictly required; and 

  

	 	(b)	in advance of making the disclosure, advise the other Party of the text of the proposed disclosure and provide the other Party with a reasonable opportunity of making
comment upon its form and content before making the disclosure. 

 This clause does not apply to disclosures
permitted under clause 15.2(c). 
  

	16	Notices 

  

	16.1	General 

 Any notice,
demand, certification, consent or other communication in this document (Notice): 
  

	 	(a)	must be given in writing and in the English language; and 

  

	 	(b)	may be given by an authorised representative of the sender. 

  

	16.2	Method of service 

 In
addition to any means authorised by law any communication may be given by: 
  

	 	(a)	being personally served on a Party; 

  

	 	(b)	being left at the Party’s current address for service; 

  

	 	(c)	being sent to the Party’s current postal address for service by pre-paid ordinary mail; or 

  

	 	(d)	by facsimile to the Party’s current numbers for service. 

  

	16.3	Address for service 

  

	 	(a)	The addresses and numbers for service are initially: 

 Sellers and Company: 
  

			
	Address:	  	Level 10, 145 Eagle Street, Brisbane, Queensland
		
	Postal address	  	GPO Box 2766 Brisbane Queensland 4001.
		
	Facsimile:	  	07- 3832 6411
		
	Attention:	  	Operations and Joint Venture Manager

  

  
 page 23 

			
	Buyer and Vamgas
		
	Address:	  	Ground Floor, Santos Centre, 60 Flinders Street, Adelaide,
South Australia 5000
		
	Postal address	  	GPO Box 2455, Adelaide, South Australia 5001.
		
	Facsimile:	  	08 8116 7578
		
	Attention:	  	Manager – Business Development – Eastern Australia.

  

	 	(b)	A Party may from time to time change its address or numbers for service by notice to the other Party. 

  

	16.4	Service by post 

 A
communication given by post will be deemed received on the: 
  

	 	(a)	third Business Day after posting to a party’s postal address if posted in the country in which it is delivered; or 

  

	 	(b)	tenth Business Day after posting to a party’s postal address if not posted in the country in which it is to be delivered. 

  

	16.5	Service by facsimile 

 A
communication sent by facsimile will be deemed received when the sender’s facsimile machine produces a transmission report stating that the facsimile was sent to the addressee’s facsimile number. 
  

	16.6	Form received 

 A
communication sent by facsimile will be deemed given in the form transmitted unless the message is not fully received in a legible form and the addressee immediately notifies the sender of that fact. 
  

	16.7	Service after hours 

 If a
communication to a Party is received by it: 
  

	 	(a)	after 5:00 pm; or 

  

	 	(b)	on a day which is not a Business Day, 

 it will be deemed to have been received on the next Business Day. 
  

	17	Costs and stamp duty 

  

	17.1	Legal costs 

 Subject to
any express provision in this document to the contrary, each Party will bear its own legal and other costs and expenses relating directly or indirectly to the preparation of, and performance of its obligations under, this document. 
  

  
 page 24 

	17.2	Stamp duty 

 The Buyer
will, as between the Parties, be liable for and duly pay all stamp duty (including any fine or penalty) on or relating to this document and any document executed under it. 
  

	17.3	Registration fee 

 The
Buyer shall bear all registration fees relating to the obtaining of Regulatory Approvals. 
  

	18	Miscellaneous 

  

	18.1	Amendment 

 This document
may only be varied or replaced by a document duly executed by the Parties. 
  

	18.2	Waiver and exercise of rights 

  

	 	(a)	A single or partial exercise or waiver of a right relating to this document will not prevent any other exercise of that right or the exercise of any other right.

  

	 	(b)	A Party will not be liable for any loss, cost or expense of any other party caused or contributed to by the waiver, exercise, attempted exercise, failure to exercise or
delay in the exercise of a right. 

  

	18.3	Rights cumulative 

 Subject to any express provision in this document to the contrary, the rights of a Party under this document are cumulative and are in addition to any other rights of that party. 
  

	18.4	Approvals and consent 

 Subject to any express provision in this document to the contrary, a party may conditionally or unconditionally give or withhold any consent to be given under this document and is not obliged to give its reasons for doing so. 
  

	18.5	Further assurance 

 Each
Party will promptly execute all documents and do all things that any other Party from time to time reasonably requires of it to effect, perfect or complete the provisions of this document and any transaction contemplated by it. 
  

	18.6	Governing law and jurisdiction 

  

	 	(a)	This document is governed by and is to be construed in accordance with the laws in force in Queensland. 

  

	 	(b)	Each Party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of Queensland and any courts which have jurisdiction to hear appeals
from any of those courts and waives any right to object to any proceedings being brought in those courts. 

  

  
 page 25 

	18.7	Assignment 

 A Party may
not dispose of or create an Encumbrance over any right under this document without the prior written consent of the other Party. 
  

	18.8	No merger 

 No provision
of this document, including any representation or warranty, merges on or by virtue of Completion. 
  

	18.9	Counterparts 

 This
document may consist of a number of counterparts and if so the counterparts taken together constitute one and the same instrument. 
  

	18.10	Time of essence 

 Time is
of the essence as regards any date or period determined under this document save only for the extent that any date or period may be altered by mutual agreement between the Parties whereupon time is of the essence as regards such date or period as so
altered. 
  

	18.11	Computation of time 

 Where time is to be reckoned by reference to a day or event, that day or the day of that event is excluded. 
  

	18.12	Effect of execution 

  

	 	(a)	This document is not binding on any Party unless it or a counterpart has been duly executed by, or on behalf of, each person named as a Party to the document.

  

	 	(b)	Each person who executes this document on behalf of a party warrants that he or she holds all due and necessary authority to bind that party, and that he or she has no
notice of the revocation of that authority or of any fact or circumstance that might affect his or her authority to execute this document on behalf of the relevant party. 

  

	18.13	Entire understanding 

  

	 	(a)	This document embodies the entire understanding and agreement between the Parties as to the subject matter of this document. 

  

	 	(b)	All previous negotiations, understandings, representations, warranties, memoranda or commitments in relation to, or in any way affecting, the subject matter of this
document are merged in and superseded by this document and will be of no force or effect whatever and no Party will be liable to any other Party in respect of those matters. 

  

	 	(c)	No oral explanation or information provided by any party to another will: 

 (i) affect the meaning or interpretation of this document; or 
 (ii) constitute
any collateral agreement, warranty or understanding between any of the parties. 
  

  
 page 26 

 Schedule 1 
 Warranties of Seller 
  

	1	The Seller is the legal and beneficial owner of the Nockatunga Sale Interest free of Encumbrances and other adverse third party interests other than the Royalty
Interests and other than those Encumbrances, interests and rights arising under the Related Agreements. 

  

	2	The Seller is not in default under any of the Related Agreements and is not aware of any circumstances that may give rise to a default under any of the Related
Agreements. 

  

	3	The Seller is not party to any investigation, prosecution or litigation in connection with the Nockatunga Sale Interest and has no knowledge of any disputes, Claims or
demands between the Seller and any other person that are likely to give rise to litigation affecting the Nockatunga Sale Interest other than the Drilling Costs Claims. 

  

	4	The Seller has full right and power to transfer to the Buyer clear title to the Nockatunga Sale Interest; 

  

	5	The Seller is not in breach under the Crude Oil Purchase Agreement and is not aware of any circumstances that may give rise to a breach under the Crude Oil Purchase
Agreement. 

  

  
 page 27 

 Schedule 2 
 Deed of Assignment, Assumption and Release 
 Magellan Petroleum (Eastern) Pty Ltd 
  
 Santos QNT Pty Ltd 
  
 Vamgas Pty Ltd 
 Deed of Assignment, Assumption and Release—Nockatunga Agreements 
  

  
 page 28 

 Contents 
  

					
	1	  	Interpretation	  	1
	2	  	Assignment and Assumption	  	4
	3	  	Release	  	4
	4	  	Royalty Interests	  	4
	5	  	Miscellaneous	  	5

  

  

			
	5315424/1	  	page 29

 Date             December 22, 2009

 Parties 
 Magellan Petroleum (Eastern) Pty Ltd ABN 16 053 726 711 of Level 10, 145 Eagle Street, Brisbane, Queensland (MPE) 
 Santos QNT Pty Ltd ABN 33 083 077 196 of Ground Floor, Santos Centre, 60 Flinders Street, Adelaide, South Australia (SQNT) 
 Vamgas Pty Ltd ABN 76 006 245 110 of Ground Floor, Santos Centre, 60 Flinders Street, Adelaide, South Australia (Vamgas)

  
  
 Background 
  

	A	The parties are parties to several agreements concerning the exploration for and production of petroleum (including coal seam gas) with respect to the Nockatunga
Tenements. 

  

	B	MPE has agreed to sell, assign and transfer to SQNT all of the right title and interest of MPE in the Nockatunga Tenements and under the Nockatunga Agreements.

  

	C	SQNT has agreed to assume all obligations and liabilities of MPE under the Nockatunga Agreements and in respect of the Royalty Interests. 

  

	D	As a result of completion of the acquisition referred to in paragraph B SQNT and Vamgas has agreed to release MPE from any further liability or obligation under the
Nockatunga Agreements, in accordance with the terms of this document. 

  
  
 Agreed terms 
  

	1	Interpretation 

  

	1.1	Definitions 

 In this
document: 
 Assignment means the transfer by MPE to SQNT of all MPE’s right, title and interest in the Nockatunga
Tenements and under the Nockatunga Agreements. 
 ATP means an authority to prospect under either the Petroleum Act
1923 or the Petroleum and Gas (Production and Safety) Act 2004 of Queensland. 
 Carry Agreement means the
Chimelle – Minora Carry Continuation Agreement—PL Area dated 27 October 1988 as varied by several deeds of assignment and which is now between Vamgas and MPE. 
  

  

			
	5315424/1	  	page 30

 Claim means any claim, demand, legal proceedings, liability or cause of action
whatsoever including any claim, demand, legal proceedings or cause of action based in contract (including breach of warranty), based in tort (including misrepresentation or negligence) and under common law or under statute including Part V or VI of
the Trade Practices Act 1974 or like provisions in any State or Territory Legislation, and includes the Drilling Costs Claims. 
 Completion Date has the same meaning under the Sale and Purchase Agreement. 
 Drilling Costs Claims has
the meaning given under the Sale and Purchase Agreement. 
 Effective Date means 1st January 2010. 
 Nockatunga Agreements means each of the Nockatunga JOAs and the Carry Agreement. 
 Nockatunga JOAs means each of: 
  

	 	(a)	Coal Seam Gas Joint Operating Agreement for ATP 267P (part) and Petroleum Leases number 33 and 51 dated 9 July 2002 between MPE, SQNT and Vamgas; and

  

	 	(b)	Petroleum Lease 33 and ATP 267P (part) PL Area – Joint Operating Agreement dated 29 September 1988 between SQNT, MPE and Vamgas Pty Ltd; and

 Nockatunga Tenements means each of ATP 267P, PL33, PL50, PL51, PL244 and PL245. 
 PL means a petroleum lease under the Petroleum Act 1923 or Petroleum and Gas (Production and Safety) Act 2004 of
Queensland. 
 Royalty Interests means: 
  

	 	(a)	2 % overriding royalty on all oil, gas and associated hydrocarbons produced from the Company Petroleum Tenements to International Oil Lease Service Corp pursuant
to a royalty agreement a copy of which is set out in annexure B of the Nockatunga JOAs; and 

  

	 	(b)	the royalty on oil, gas and condensate from the Company Petroleum Tenements in favour of Banner Petroleum Corporation pursuant to the terms of a royalty agreement, a
copy of which forms annexure C of the Nockatunga JOAs. 

 Sale and Purchase Agreement means the agreement
between the parties pursuant to which SQNT agreed to purchase all of MPE’s interests in the Nockatunga Tenements and under the Nockatunga Agreements. 
  

	1.2	Construction 

 Unless
expressed to the contrary, in this document: 
  

	 	(d)	words in the singular include the plural and vice versa; 

  

	 	(e)	any gender includes the other genders; 

  

  

			
	5315424/1	  	page 31

	 	(f)	if a word or phrase is defined its other grammatical forms have corresponding meanings; 

  

	 	(g)	“includes” means includes without limitation; 

  

	 	(h)	no rule of construction will apply to a clause to the disadvantage of a party merely because that party put forward the clause or would otherwise benefit from it;

  

	 	(i)	a reference to: 

  

	 	(i)	a person includes a partnership, joint venture, unincorporated association, corporation and a government or statutory body or authority; 

  

	 	(ii)	a person includes the person’s legal personal representatives, successors, assigns and persons substituted by novation; 

  

	 	(iii)	any legislation includes subordinate legislation under it and includes that legislation and subordinate legislation as modified or replaced; 

 

	 	(iv)	an obligation includes a warranty or representation and a reference to a failure to comply with an obligation includes a breach of warranty or representation;

  

	 	(v)	a right includes a benefit, remedy, discretion or power; 

  

	 	(vi)	time is to local time in Brisbane; 

  

	 	(vii)	“$” or “dollars” is a reference to Australian currency; 

  

	 	(viii)	this or any other document includes the document as novated, varied or replaced and despite any change in the identity of the parties; 

  

	 	(ix)	writing includes any mode of representing or reproducing words in tangible and permanently visible form, and includes fax transmissions; 

  

	 	(x)	this document includes all schedules and annexures to it; and 

  

	 	(xi)	a clause, schedule or annexure is a reference to a clause, schedule or annexure, as the case may be, of this document; 

  

	 	(j)	if the date on or by which any act must be done under this document is not a Business Day, the act must be done on or by the next Business Day; and

  

	 	(k)	where time is to be calculated by reference to a day or event, that day or the day of that event is excluded. 

  

	1.3	Headings 

 Headings do not
affect the interpretation of this document. 
  

  

			
	5315424/1	  	page 32

	2	Assignment and Assumption 

  

	2.1	Assignment 

  

	 	(a)	MPE hereby transfers and assigns to SQNT with effect from the Effective Date all of the right, title and interest of MPE in the Nockatunga Agreements.

  

	 	(b)	In the event that the Sale and Purchase Agreement terminates or is rescinded for any reason, this deed will cease to have any force or effect whatsoever subject to any
rights and liabilities of a party which have accrued prior to the date this deed ceases to have effect. 

  

	2.2	Assumption 

 SQNT agrees
that on and from the Effective Date it will observe and perform all of the obligations of MPE and assume all of the liabilities of MPE in respect of the Nockatunga Agreements and the Royalty Interests, and be bound by all of the terms, conditions,
restrictions, covenants and obligations of MPE in respect of the Nockatunga Agreements and the Royalty Interests from the Effective Date. 
  

	3	Release 

  

	3.1	Consent and waiver 

 Vamgas consents to the Assignment and waives all and any rights of pre-emption and rights of first refusal which it may have in respect of the Assignment. 
  

	3.2	Nockatunga JOAs 

 On and
from the Effective Date, SQNT and Vamgas release MPE from all and any Claims arising under or in respect of the Nockatunga JOAs in respect of the period on and from the Effective Date. 
  

	3.3	Carry Agreement 

 Each of
Vamgas and MPE releases each other from all and any Claims arising under or in respect of the Carry Agreement. 
  

	3.4	Drilling Costs Claims 

 Without limiting clauses 3.2 and 3.3, Vamgas and SQNT hereby release MPE from the Drilling Costs Claims and each shall indemnify and keep indemnified MPE against the Drilling Costs Claims. 
  

	4	Royalty Interests 

  

	4.1	Release of MPE 

 Each of
Vamgas and SQNT acknowledge and agree that on and from the Effective Date MPE is released and discharged from all liability in respect of

  

  

			
	5315424/1	  	page 33

 
the Royalty Interests other than any unpaid or unsatisfied liability incurred by MPE before the Effective Date. 
  

	4.2	Indemnity by SQNT 

 SQNT
hereby indemnifies and keeps indemnified MPE against all liability in respect of the Royalty Interests which it may incur at any time on or after the Effective Date other than in respect of any liability which accrued or fell due on MPE’s share
of production from the Nockatunga Tenements prior to the Effective Date. 
  

	4.3	Indemnity by MPE 

 MPE
hereby indemnifies and keeps indemnified SQNT against all liability in respect of the Royalty Interests which accrue or fall due on MPE’s share of production from the Nockatunga Tenements prior to the Effective Date. 
  

	5	Miscellaneous 

  

	5.1	Amendment 

 This document
may only be varied or replaced by a document duly executed by the Parties. 
  

	5.2	Waiver and exercise of rights 

  

	 	(c)	A single or partial exercise or waiver of a right relating to this document will not prevent any other exercise of that right or the exercise of any other right.

  

	 	(d)	A Party will not be liable for any loss, cost or expense of any other party caused or contributed to by the waiver, exercise, attempted exercise, failure to exercise or
delay in the exercise of a right. 

  

	5.3	Rights cumulative 

 Subject to any express provision in this document to the contrary, the rights of a Party under this document are cumulative and are in addition to any other rights of that party. 
  

	5.4	Approvals and consent 

 Subject to any express provision in this document to the contrary, a party may conditionally or unconditionally give or withhold any consent to be given under this document and is not obliged to give its reasons for doing so. 
  

	5.5	Further assurance 

 Each
Party will promptly execute all documents and do all things that any other Party from time to time reasonably requires of it to effect, perfect or complete the provisions of this document and any transaction contemplated by it. 
  

	5.6	Governing law and jurisdiction 

  

	 	(a)	This document is governed by and is to be construed in accordance with the laws in force in Queensland. 

  

  

			
	5315424/1	  	page 34

	 	(b)	Each Party irrevocably and unconditionally submits to the non exclusive jurisdiction of the courts of Queensland and any courts which have jurisdiction to hear appeals
from any of those courts and waives any right to object to any proceedings being brought in those courts. 

  

	5.7	Counterparts 

 This
document may consist of a number of counterparts and if so the counterparts taken together constitute one and the same instrument. 
  

	5.8	Effect of execution 

 This
document is not binding on any Party unless it or a counterpart has been duly executed by, or on behalf of, each person named as a Party to the document. 
  

	5.9	Entire understanding 

  

	 	(a)	This document embodies the entire understanding and agreement between the Parties as to the subject matter of this document. 

  

	 	(b)	All previous negotiations, understandings, representations, warranties, memoranda or commitments in relation to, or in any way affecting, the subject matter of this
document are merged in and superseded by this document and will be of no force or effect whatever and no Party will be liable to any other Party in respect of those matters. 

  

	 	(c)	No oral explanation or information provided by any party to another will: 

  

	 	(i)	affect the meaning or interpretation of this document; or 

  

	 	(ii)	constitute any collateral agreement, warranty or understanding between any of the parties. 

  

	5.10	Legal costs 

 Each party
will bear its own legal and other costs and expenses relating directly or indirectly to the preparation of, and performance of its obligations under this document. 
  

	5.11	Stamp duty 

 SQNT will, as
between the Parties, be liable for and duly pay all stamp duty (including any fine or penalty) on or relating to this document and any document executed under it. 
  

  

			
	5315424/1	  	page 35

 Executed as a deed. 
  

			
	 Executed by Magellan Petroleum
 (Eastern) Pty Ltd in accordance with
 section 127 of the Corporations Act
 2001 in the presence of:
	  	 )
 )
 )
 )

  

					
	 /s/ Mervyn V. Cowie
	 		 	 /s/ Bruce McInnes

	Director	 		 	Secretary/Director
			
	 Mervyn V. Cowie
	 		 	 Bruce McInnes

	Name of Director (print)	 		 	Name of Secretary/Director (print)

  

			
	 Executed for and on behalf of Santos
 QNT Pty Ltd by being duly signed
 sealed and delivered by its duly
 appointed Attorney in the presence of:
	  	 )
 )
 )
 )

  

					
	 /s/ Tiffany Jane Travers
	 		 	 /s/ Peter Christoper Wasow

	Witness	 		 	Attorney
			
	 Tiffany Jane Travers
	 		 	 Peter Christopher Wasow

	Name of Witness (print)	 		 	Name of Attorney (print)

  

			
	 Executed for and on behalf of
 Vamgas Pty Ltd by being duly signed
 sealed and delivered by its duly
 appointed Attorney in the presence of:
	  	 )
 )
 )
 )

  

					
	 /s/ Tiffany Jane Travers
	 		 	 /s/ Peter Christoper Wasow

	Witness	 		 	Attorney
			
	 Tiffany Jane Travers
	 		 	 Peter Christopher Wasow

	Name of Witness (print)	 		 	Name of Attorney (print)

  

  

			
	5315424/1	  	page 36

 Schedule 3 
 Purchase Price Allocation 
 The Parties agree that the Purchase Price is to be apportioned among the individual interests comprising
the Nockatunga Sale Interest as follows: 
  

				
	 INTEREST
	  	PRICE ALLOCATION
	 Legal and beneficial interest in the property, plant and equipment arising under the Related Agreements
	  	$	5,199,999
		
	 ATP 267P
	  	$	1,000,000
		
	 PL 33, PL 50, PL 51, PL 244, PL 245
	  	$	100,000
		
	 Related Agreements
	  	$	1
		
	 PURCHASE PRICE
	  	$	6,300,000

  

  

			
	5315424/1	  	page37

 Executed as an agreement 
  

			
	 Executed by Magellan Petroleum
 (Eastern) Pty Ltd
	  	 )
 )

  

					
	 /s/ Bruce McInnes
	 		 	 /s/ Mervyn V. Cowie

	Company Secretary/Director	 		 	Director
			
	 Bruce McInnes
	 		 	 Mervyn V. Cowie

	Name of Company Secretary/Director (print)	 		 	Name of Director (print)

  

			
	 Executed for and on behalf of
 Magellan Petroleum Australia
 Limited by its duly authorised
 attorney in the presence of:
	  	 )
 )
 )
 )

  

					
	 /s/ Paul Steven Careless
	 		 	 /s/ Mervyn V. Cowie

	Witness	 		 	Attorney
			
	 Paul Steven Careless
	 		 	 Mervyn V. Cowie

	Name of Witness (print)	 		 	Name of Attorney (print)

  

			
	 Executed for and on behalf of Santos
 QNT Pty Ltd by its duly authorised
 attorney in the presence of:
	  	 )
 )
 )

  

							
	 /s/ Wendy Roxbee
	 		 	 /s/ Mark Macfarlane

	Witness	 		 	Signatory
		 		 	Name:	  	
	 Wendy Roxbee
	 		 	Title:	  	VP Eastern Australia
	Name of Witness (print)	 		 		  	

  

			
	 Executed for and on behalf of Vamgas
 Pty Ltd by its duly authorised
 attorney in the presence of:
	  	 )
 )
 )

  

							
	 /s/ Wendy Roxbee
	 		 	 /s/ Mark Macfarlane

	Witness	 		 	Signatory
		 		 	Name:	  	
	 Wendy Roxbee
	 		 	Title:	  	VP Eastern Australia
	Name of Witness (print)	 		 		  	

  

  

			
	 5315424/1
 2001398V1
	  	page 38

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00168-of-00352.parquet"}]]