Document:

REGISTRATION
      RIGHTS AGREEMENT

    

    This
      Registration Rights Agreement (the "Agreement") is made by and between the
      undersigned (the "Shareholder") and The American Energy Group, Ltd., a Nevada
      corporation (the "Company").

    

    W
      I T N E
      S S E T H:

    

    WHEREAS,
      the Shareholder has purchased __________ shares (the "Shares") of common stock
      of the Company, par value $.001 per share (the “Common Stock”) and ___________
      warrants to purchase Common Stock (the “Warrants”) in the Offering of Shares of
      Common Stock and Warrants (the “Offering”) made by the Company as described in
      the Confidential Private Offering Memorandum dated May 3, 2006 (the
“Memorandum”) as evidenced by that certain Securities Purchase Agreement
      executed and submitted to the Company by Shareholder dated May 3, 2006 (the
      “Purchase Agreement”);

    

    NOW
      THEREFORE, for good and valuable consideration, the receipt and sufficiency
      of
      which are hereby acknowledged, the parties agree as follows:

    

    The
      Company covenants and agrees as follows:

    

    1.
       Definitions. 
       For
      purposes of this Agreement:

    

    (a) 
       The
      term
      "Holder" means any person owning or having the right to acquire Shares or the
      Registrable Securities, including Shareholder or any transferees of
      Shareholder.

    

    (b) The
      term
“1933 Act” means the Securities Act of 1933, as amended.

    

    (c) The
      term
“1934 Act” means the Securities Exchange Act of 1934, as amended.

    

    (d) The
      terms
“register,” “registered” and “registration” refer to a registration effected by
      preparing and filing a registration statement or similar document in compliance
      with the 1933 Act, and such registration statement or document becoming
      effective.

    

    (e) The
      term
      "Registrable Securities" means (i) the Shares, (ii) the Warrants(iii) the shares
      of Common Stock underlying the Warrants, all issued by the Company pursuant
      to
      the Offering, or in exchange for or in replacement of the Shares, but excluding
      in all cases, however, any Registrable Securities sold by a person in a
      transaction in which his rights are not assigned;
      provided,
      however,
      that
      any such securities shall cease to be Registrable Securities when one or more
      registration statements with respect to the sale of such securities shall have
      become effective under the 1933 Act and all such securities shall have been
      disposed of in accordance with the plan of distribution set forth
      therein.

    

    (f) The
      number of shares of "Registrable Securities Then Outstanding" shall be equal
      to
      the sum of the number of shares of Common Stock outstanding and the number
      of
      shares of Common Stock underlying the outstanding Warrants which are Registrable
      Securities.

    

    (g) The
      term
      "Registration Expenses" means all registration, qualification, listing and
      filing fees, printing expenses, escrow fees and blue sky fees, fees and
      disbursements of counsel for the Company and of the Company's independent
      certified public accountants, in each case incident to or required by the
      registration under this Agreement, and any other fees and expenses of the
      registration under this Agreement which are not Selling Expenses.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (h) The
      term
      "Selling Expenses" means all underwriting discounts, selling commissions and
      stock transfer taxes applicable to the securities registered by the Holders
      and
      all fees and disbursements of counsel for any Holder.

    

    (i) All
      other
      capitalized terms used in this Section that are not defined herein shall have
      the meaning otherwise given in the Memorandum.

    

    2. Registration
      Obligation. Within
      sixty (60) days after the Closing Date of the Offering (as defined in the
      Memorandum), the Company agrees to file a registration statement (the
“Registration Statement”) pursuant to the 1933 Act to register the resale of the
      Registrable Securities with the Securities and Exchange Commission (the
“Commission”). The Company shall promptly give written notice to all holders of
      record of the Shares and the Warrants which were purchased or issued in
      connection with the Offering. The Company will use reasonable efforts to cause
      the Registration Statement to become effective. The Company shall use its
      commercially reasonable efforts to cause the Registration Statement to be
      declared effective as promptly as possible after the filing thereof, but not
      later than one hundred twenty (120) days after the Closing Date. Should the
      Company fail to file the registration statement within sixty (60) days after
      the
      Closing Date, then upon such occurrence, and on every monthly anniversary
      thereof until the filing of the Registration Statement by the Company, the
      Company shall pay to the Holder an amount in cash as liquidated damages and
      not
      as a penalty, equal to 1.0% of the number of Shares then owned by Holder
      acquired in the Offering. Any payments made pursuant to the terms hereof shall
      apply on a prorated basis for any portion of a month prior to the filing of
      the
      Registration Statement by the Company. In the event the Company fails to make
      the payments pursuant to the terms hereof in a timely manner, such payments
      shall bear interest at a rate of 1% per month (prorated for partial months)
      until paid in full. The Company will give each Holder written notice of such
      registration and include in such registration (and any related qualification
      under blue sky or other state securities laws) all of the Registrable
      Securities. The Company shall not be obligated to effect more than one
      registration on behalf of the Shareholders and purchasers in the Offering.
      

    

    3. Expenses
      of Registration.
      All
      Registration Expenses incurred in connection with a registration pursuant to
      this Agreement shall be borne by the Company. All Selling Expenses relating
      to
      the Registrable Securities registered on behalf of the Holders shall be borne
      by
      the Holders of such Registrable Securities pro rata
      based
      upon the total number of Registrable Securities included in the registration
      or,
      if such Selling Expenses are specifically allocable to Registrable Securities
      held by specific Holders, by such Holders to the extent related to the sale
      of
      such Registrable Securities.

    

    4. Registration
      Procedures.
      

    

    (a) In
      connection with the registration of Registrable Securities required pursuant
      to
      this Agreement, the Company shall as expeditiously as is
      reasonable:

    

    (i)
       prepare
      and file with the SEC on any appropriate form a registration statement with
      respect to such Registrable Securities and use its reasonable best efforts
      to
      cause such registration statement to become and remain effective for the period
      described in paragraph (ii) below;

    

    (ii) prepare
      and file with the SEC such amendments (including post-effective amendments)
      and
      supplements to such registration statement and the prospectus used in connection
      therewith as may be necessary to keep such registration statement effective
      and
      to comply with the provisions of the 1933 Act with respect to the disposition
      of
      all Registrable Securities and other securities covered by such registration
      statement the earliest of (w) when the Registrable Securities have been sold
      pursuant to Rule 144 promulgated under the 1933 Act (or any successor provision)
      ("Rule 144") or such registration statement, (x) when the Registrable Securities
      have been otherwise transferred and a new certificate for the Registrable
      Securities not bearing a legend restricting further transfer shall have been
      delivered by the Company, (y) when all of the Holder’s and its Affiliates’
remaining Registrable Securities can be sold in a single transaction in
      compliance with Rule 144, or (z) when the Registrable Securities have ceased
      to
      be outstanding;

     

    
      
        
        

      

      
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    (iii) furnish
      to each seller of such Registrable Securities such number of conformed copies
      of
      such registration statement and of each such amendment and supplement thereto
      (at least one of which shall include all exhibits), such number of copies of
      the
      prospectus included in such registration statement (including each preliminary
      prospectus and any summary prospectus), in conformity with the requirements
      of
      the 1933 Act, such documents incorporated by reference in such registration
      statement or prospectus, and such other documents, as such seller may reasonably
      request in order to facilitate the sale or disposition of such Registrable
      Securities;

    

    (iv) use
      its
      reasonable best efforts to register or qualify all Registrable Securities and
      other securities covered by such registration statement under such other
      securities or “blue sky” laws of such jurisdictions as each seller shall
      reasonably request, and do any and all other acts and things as may be
      reasonably necessary to consummate the disposition in such jurisdictions of
      the
      Registrable Securities covered by such registration statement, except that
      the
      Company shall not for any such purpose be required to qualify generally to
      do
      business as a foreign corporation in any jurisdiction wherein it is not so
      qualified, or to subject itself to taxation in respect of doing business in
      any
      such jurisdiction, or to consent to general service of process in any such
      jurisdiction;

    

    (v) immediately
      notify each seller of Registrable Securities, at any time when a prospectus
      relating thereto is required to be delivered under the 1933 Act, of the
      happening of any event as a result of which the prospectus included in such
      registration statement, as then in effect, includes an untrue statement of
      a
      material fact or omits to state any material fact required to be stated therein
      or necessary to make the statements therein not misleading in the light of
      the
      circumstances then existing or if it is necessary, in the opinion of counsel
      to
      the Company, to amend or supplement such prospectus to comply with law, and
      at
      the request of any such seller prepare and furnish to any such seller a
      reasonable number of copies of a supplement to or an amendment of such
      prospectus as may be necessary so that, as thereafter delivered to the
      purchasers of such Registrable Securities, such prospectus shall not include
      an
      untrue statement of a material fact or omit to state a material fact required
      to
      be stated therein or necessary to make the statements therein not misleading
      in
      the light of the circumstances then existing and shall otherwise comply in
      all
      material respects with law and so that such prospectus, as amended or
      supplemented, will comply with law;

    

    (vi) otherwise
      use its reasonable best efforts to comply with all applicable rules and
      regulations of the SEC, and make available to its security holders, as soon
      as
      reasonably practicable, an earnings statement covering the period of at least
      twelve (12) months, beginning with the first month of the first fiscal quarter
      after the effective date of such registration statement, which earnings
      statement shall satisfy the provisions of Section 11(a) of the 1933
      Act;

    

    (vii) use
      its
      reasonable best efforts to list such securities on each securities exchange
      or
      over-the-counter market on which shares of Common Stock are then listed, if
      such
      securities are not already so listed and if such listing is then permitted
      under
      the rules of such exchange and, if shares of Common Stock are not then listed
      on
      a securities exchange or over- the-counter market, to use its reasonable best
      efforts to cause such securities to be listed on such securities exchange or
      over-the-counter market as such seller shall reasonably request;

     

    
      
        
        

      

      
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    (viii) provide
      a
      transfer agent and registrar for such Registrable Securities not later than
      the
      effective date of such registration statement; and

    

    (b) The
      Holder or Holders of Registrable Securities included in any registration shall
      furnish to the Company such information regarding such Holder or Holders, the
      Registrable Securities held by them and the distribution proposed by such Holder
      or Holders as the Company may from time to time reasonably request and as shall
      be reasonably required in connection with any registration, qualification or
      compliance referred to in this Agreement.

    

    (c) 
      Notwithstanding the registration rights granted to the Shareholder under this
      Agreement, in the event the Company files a registration statement for an
      underwritten public offering of Common Stock (a "Company Offering") within
      three
      years of the termination of the Offering and while the Registration Statement
      covering the Registrable Securities is effective, then upon the request of
      the
      Company's underwriter in such Company Offering, the Shareholder agrees to enter
      into an agreement pursuant to which the Shareholder will be prohibited from
      transferring the Registrable Securities for such period of time, not to exceed
      60 days after completion of the Company Offering, as the Company's underwriter
      may request. The Company may enter stop transfer orders with its transfer agent
      in order to effect this prohibition. 

    

    5. Obligations
      of Shareholder.
      

    

    (a) The
      Shareholder agrees that it will offer and sell Shares in compliance with all
      applicable state and federal securities laws. Specifically, without limitation,
      the Shareholder agrees as follows:

    

    (i) The
      Shareholder agrees not to use any prospectus (as that term is defined under
      the
      1933 Act) for the purpose of offering or selling the Shares to the public except
      for the Prospectus, as the same may be supplemented and amended from time to
      time. 

    

    (ii) Neither
      the Shareholder nor any affiliate of the Shareholder shall engage in any
      practice which would violate Rule 10b-6 promulgated under the 1934 Act
      ("Exchange Act"). 

    

    (iii) Neither
      the Shareholder nor any Affiliate of the Shareholder shall solicit purchases
      of
      Common Stock to facilitate the distribution of Shares in violation of Rule
      10b-2
      promulgated under the 1934 Act.

    

    (iv) Neither
      the Shareholder nor any Affiliate of the Shareholder shall effect any
      stabilizing transactions to facilitate the offer and sale of Shares to the
      public in violation of Rule 10b-7 promulgated under the 1934 Act.

    

    (b) The
      Shareholder agrees to promptly notify the Company as and when any Shares are
      sold and when the Shareholder elects to terminate all further offers and sales
      of Shares pursuant to the Registration Statement. The Shareholder acknowledges
      that any Shares which have not been sold within two years after the termination
      of the Offering or any earlier termination of the distribution of the Shares
      will be removed from registration by means of a post-effective amendment to
      the
      Registration Statement.

    

    (c) It
      shall
      be a condition precedent to the obligations of the Company to take any action
      with respect to registering the Shares that the Shareholder furnish the Company
      in writing such information regarding the Shareholder, the Shares and other
      securities of the Company held by the Shareholder, and the distribution of
      such
      Shares as the Company may from time to time reasonably request in writing.
      If
      the Shareholder refuses to provide the Company with any of such information
      on
      the grounds that it is not necessary to include such information in the
      Registration Statement, the Company may exclude the Shareholder's Shares from
      the Registration Statement if the Company provides the Shareholder with an
      opinion of counsel to the effect that such information must be included in
      the
      Registration Statement and the Shareholder thereafter continues to withhold
      such
      information.

     

    
      
        
        

      

      
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                    6.  Restrictions
      on Transfer.
      The
      Shareholder agrees that it will not sell, exchange, pledge or otherwise transfer
      any Shares except in transactions (i) made pursuant to the Registration
      Statement, or (ii) which are exempt from all registration requirements of the
      1933 Act (or conducted pursuant to Rule 144 thereunder) and all applicable
      state
      securities laws, and for which the Company is provided with an opinion of
      counsel to the Shareholder and other evidence as may be reasonably satisfactory
      to the Company to the effect that such transfer will not be in violation of
      the
      1933 Act and all applicable state securities laws.

    

    7. Indemnification.

    

    (a) The
      Company will indemnify each Holder or transferee with respect to which
      registration has been effected pursuant to this Agreement, each of its officers
      and directors, if any, and each underwriter for such Holder or transferee,
      if
      any, and each person who controls the Holder or any such underwriter within
      the
      meaning of Section 15 of the 1933 Act, against any and all losses, claims,
      damages, liabilities or expenses (or actions in respect thereof), including
      any
      of the foregoing incurred in settlement of any litigation, commenced or
      threatened, arising out of or based on any untrue statement (or alleged untrue
      statement) of a material fact contained in any registration statement or
      prospectus, or any amendment or supplement thereto, incident to any such
      registration, qualification or compliance, or based on any omission (or alleged
      omission) to state therein a material fact required to be stated therein or
      necessary to make the statements therein, in the light of the circumstances
      in
      which they were made, not misleading, or any violation by the Company of the
      1933 Act or any rule or regulation promulgated under the 1933 Act applicable
      to
      the Company in connection with any such registration, and the Company will
      reimburse each such Holder, each such underwriter and each person who controls
      any such underwriter, for any legal and other expenses reasonably incurred,
      as
      such expenses are incurred, in connection with investigating, preparing or
      defending any such claims, loss, damage, liability or action; provided,
      however,
      that
      the Company will not be liable in any such case to the extent that any such
      claim, loss, damage, liability or expense arises out of or is based on any
      untrue statement or omission or alleged untrue statement or omission, made
      in
      reliance upon and in conformity with written information furnished to the
      Company by an instrument duly executed by such Holder or underwriter and stated
      to be specifically for use therein.

    

    (b) Each
      Holder or transferee will, if Registrable Securities held by such Holder or
      transferee are included in the securities as to which such registration is
      being
      effected, indemnify the Company, each of its directors and officers, each
      underwriter for such Holder, if any, of the Company’s securities covered by such
      a registration statement, each Person who controls the Company or such
      underwriter within the meaning of Section 15 of the 1933 Act and each other
      such
      Holder against any and all losses, claims, damages, liabilities and expenses
      (or
      actions in respect thereof), arising out of or based on any untrue statement
      (or
      alleged untrue statement) of a material fact contained in any such registration
      statement or prospectus, or any omission (or alleged omission) to state therein
      a material fact required to be stated therein or necessary to make the statement
      therein, in the light of the circumstances under which they were made, not
      misleading, and will reimburse the Company, such Holders, underwriters or
      control persons for any legal or any other expenses reasonably incurred, as
      such
      expenses are incurred, in connection with investigating or defending any such
      claim, loss, damage, liability or action, in each case to the extent, but only
      to the extent, that such untrue statement (or alleged untrue statement) or
      omission (or alleged omission) is made in such registration statement or
      prospectus in reliance upon and in conformity with written information furnished
      to the Company by such Holder. Notwithstanding the foregoing, the liability
      of
      each Holder under this Section shall be limited to an amount equal to the
      aggregate proceeds received by such Holder from the sale of Registrable
      Securities hereunder, unless such liability arises out of or is based on willful
      conduct by such Holder.

     

    
      
        
        

      

      
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    (c) Each
      party entitled to indemnification under this Section 7 (the “Indemnified Party”)
      shall give notice to the party required to provide indemnification (the
“Indemnifying Party”) promptly after such Indemnified Party has actual knowledge
      of any claim as to which indemnity may be sought, and shall permit the
      Indemnifying Party to assume the defense of any such claims or any litigation
      resulting therefrom; provided,
      however,
      that
      counsel for the Indemnifying Party, who shall conduct the defense of such claim
      or litigation, shall be approved by the Indemnified Party (which approval shall
      not be unreasonably withheld), and the Indemnified Party may participate in
      such
      defense at such Indemnified Party’s expense; provided,
      however,
      that
      the failure of any Indemnified Party to give notice as provided herein shall
      not
      relieve the Indemnifying Party of its obligations under this Agreement unless
      the failure to give such notice is materially prejudicial to an Indemnifying
      Party’s ability to defend such action. Notwithstanding the foregoing, the
      Indemnifying Party shall not be entitled to assume the defense for matters
      as to
      which there is, in the opinion of counsel to the Indemnifying Party, a conflict
      of interest or separate and different defenses. No Indemnifying Party, in the
      defense of any such claim or litigation, shall, except with the consent of
      each
      Indemnified Party, consent to entry of any judgment or enter into any settlement
      which does not include as an unconditional term thereof the giving by the
      claimant or plaintiff to such Indemnified Party of a release from all liability
      in respect of such claim or litigation. Each Indemnified Party shall furnish
      such information regarding itself or the claim in question as an Indemnifying
      Party may reasonably request in writing and as shall be reasonably required
      in
      connection with the defense of such claim and the litigation resulting
      therefrom.

    

    
      	8.  	
              Contribution.

            

    

    

    (a)
      If
      the indemnification provided for herein is unavailable to the Indemnified
      Parties in respect of any losses, claims, damages, liabilities or expenses
      (or
      actions in respect thereof) referred to therein, then each such Indemnifying
      Party, in lieu of indemnifying such Indemnified Party, shall contribute to
      the
      amount paid or payable by such Indemnified Party as a result of such losses,
      claims, damages, liabilities or expenses (or actions in respect thereof) in
      such
      proportion as is appropriate to reflect the relative fault of the Indemnifying
      Party on the one hand and the Indemnified Party on the other in connection
      with
      the statement or omission which resulted in such losses, claims, damages,
      liabilities or expenses (or actions in respect thereof), as well as any other
      relevant equitable considerations. The relative fault shall be determined by
      reference to, among other things, whether the untrue statement (or alleged
      untrue statement), of a material fact or the omission (or alleged omission)
      to
      state a material fact relates to information supplied by the Indemnifying Party
      or the Indemnified Party and the parties’ relative
      intent, knowledge, access to information and opportunity to correct or prevent
      such statement or omission. The Company and each Holder agree that it would
      not
      be just and equitable if contribution pursuant to this Section 8 were determined
      by pro rata allocation or by any other method of allocation which does not
      take
      account of the equitable considerations referred to above. The amount paid
      or
      payable by an Indemnified Party as a result of the losses, claims, damages,
      liabilities or expenses (or actions in respect thereof) referred to above in
      this Section 8 shall be deemed to include any legal or other expenses reasonably
      incurred by such Indemnified Party in connection with investigating or defending
      any such action or claim. 

    

    (b)
      Notwithstanding anything to the contrary contained herein, the obligation of
      each Holder to contribute pursuant to this Section 8 is several and not joint
      and no selling Holder shall be required to contribute any amount in excess
      of
      the amount by which the total price at which the Registrable Securities of
      such
      selling Holder were offered to the public exceeds the amount of any damages
      which such selling Holder has otherwise been required to pay by reason of such
      untrue statement (or alleged untrue statement) or omission (or alleged
      omission). 

     

    
      
        
        

      

      
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    (c)
      No
      person guilty of fraudulent misrepresentation (within the meaning of Section
      11(f) of the 1933 Act) shall be entitled to contribution from any person who
      was
      not guilty of such fraudulent misrepresentation.

    

    9. Delay
      of Registration.
      No
      Holder
      shall have any right to obtain or seek an injunction restraining or otherwise
      delaying any registration as the result of any controversy that might arise
      with
      respect to the interpretation or implementation of the terms of this
      Agreement.

    

    10. Notices.
      All
      notices required or permitted herein must be in writing and shall be deemed
      to
      have been duly given the first business day following the date of service if
      served personally, on the first business day following the date of actual
      receipt if delivered by telecopier, telex or other similar communication to
      the
      party or parties to whom notice is to be given, or on the third business day
      after mailing if mailed to the party or parties to whom notice is to be given
      by
      registered or certified mail, return receipt requested, postage prepaid, to
      the
      Shareholder at the address set forth in the Purchase Agreement, and to the
      Company at the address set forth below, or to such other addresses as either
      party hereto may designate to the other by notice from time to time for this
      purpose. 

    

    If
      to
      Company: 
      The
      American Energy Group, Ltd.

                                                      
      Attn:
      President

                                                       120
      Post
      Road West, Suite 202

                                                      
      Westport,
      Connecticut 06880 

    

    If
      to
      Shareholder: _____________________________

    _____________________________

    _____________________________

    

    11. Entire
      Agreement.
      This
      Agreement contains and constitutes the entire agreement between and among the
      parties with respect to the matters set forth herein and supersedes all prior
      agreements and understandings between the parties hereto relating to the subject
      matter hereof. There are no agreements, understandings, restrictions, warranties
      or representations among the parties relating to the subject matter hereof
      other
      than those set forth or referred to herein. This instrument is not intended
      to
      have any legal effect whatsoever, or to be a legally binding agreement or any
      evidence thereof, until it has been signed by all parties hereto.

    

    12. Binding
      Effect.
      This
      Agreement shall be binding on and enforceable by the Shareholder and by the
      Company and its successors. No transferee of Shares shall acquire any rights
      under this Agreement except with the written consent of the Company, which
      may
      be withheld for any reason. In the event the Company is a party to a merger
      or
      consolidation in a transaction in which the Shares are converted into equity
      securities of another entity, then the Company shall cause such other entity
      to
      assume the Company's obligations under this Agreement such that this Agreement
      shall apply to the equity securities received by the Shareholder in exchange
      for
      the Shares, unless such equity securities are, upon receipt and without further
      action by the Shareholder, readily salable without registration under the
      Securities Act.

     

    
      
        
        

      

      
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    13. Construction.
      This
      Agreement shall be construed, enforced and governed in accordance with the
      laws
      of the State of Nevada. All pronouns and any variations thereof shall be deemed
      to refer to the masculine, feminine or neuter gender thereof or to the plurals
      of each, as the identity of the person or persons or the context may require.
      The descriptive headings contained in this Agreement are for reference purposes
      only and are not intended to describe, interpret, define or limit the scope,
      extent or intent of this Agreement or any provision contained
      herein.

    

    14. Invalidity.
      If any
      provision contained in this Agreement shall for any reason be held to be
      invalid, illegal, void or unenforceable in any respect, such provisions shall
      be
      deemed modified so as to constitute a provision conforming as nearly as possible
      to such invalid, illegal, void or unenforceable provisions while still remaining
      valid and enforceable, and the remaining terms or provisions contained herein
      shall not be affected thereby.

    

    15. Counterparts.
      This
      Agreement may be executed in any number of counterparts and by the parties
      hereto in separate counterparts, each of which when so executed shall be deemed
      to be an original and all of which taken together shall constitute one and
      the
      same Agreement.

    

    16. Amendments
      and Waivers.
      Any
      term or provision of the registration rights stated in this Agreement may be
      amended and the observance of any term of such rights may be waived (either
      generally or in a particular instance and either retroactively or
      prospectively), only with the written consent of the Company and the holders
      of
      at least sixty-seven percent (67%) of the Registrable Securities Then
      Outstanding. Any amendment or waiver effected in accordance with this Section
      shall be binding upon each holder of the Shares and any Registrable Securities
      Then Outstanding, each future holder of Shares and such Registrable Securities,
      and the Company.

    

    17. Governing
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of Nevada, without regard to principles of conflict of laws. In any
      action between or among any of the parties, whether arising out of this
      Agreement or otherwise, each of the parties irrevocably consents to the
      exclusive jurisdiction and venue of the federal and state courts located in
      Washoe County, Nevada.

     

    

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    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of the dates shown
      below.

    

    

    SHAREHOLDER:   ________________________________________________

    

    _______________________________________________

    Date

    

    

    

    

    COMPANY:    THE
      AMERICAN ENERGY GROUP, LTD.

    

    

    By: __________________________________________

    Pierce
      Onthank, President and CEO

    

    Date: May
      3,
      2006

    

    

    
      
        
        

      

      
        9[FORM
      OF]

    

    

    THIS
      WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR
      APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD,
      TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
      STATEMENT FOR SUCH SECURITIES UNDER THE 1933 ACT, OR AN OPINION OF COUNSEL,
      REASONABLY SATISFACTORY TO THE ISSUER HEREOF, TO THE EFFECT THAT REGISTRATION
      IS
      NOT REQUIRED UNDER THE 1933 ACT.

    

    WARRANT
      TO PURCHASE

    COMMON
      STOCK OF

    THE
      AMERICAN ENERGY GROUP, LTD.

    

    

    Date
      of
      Issuance: May 3, 2006 
      Warrant
      No. ______ 

    

    This
      certifies that, for value received, THE
      AMERICAN ENERGY GROUP, LTD.,
      a
      Nevada corporation (the “Company”), grants ____________________________ or
      registered assigns (the “Registered Holder”), the right to subscribe for and
      purchase from the Company, at the Exercise Price (as defined herein), from
      and
      after 9:00 a.m. Eastern time on the Exercise Commencement Date (hereinafter
      defined) and to and including 5:00 p.m., Eastern time on the Expiration Date
      (hereinafter defined), __________________________________ (_______)
      shares,
      as such
      number of shares may be adjusted from time to time as described herein (the
      “Warrant Shares”), of the Company’s common stock, par value $.001 per share (the
“Common Stock”), subject to the provisions and upon the terms and conditions
      herein set forth. The “Exercise Price” per share of Common Stock shall be
ONE
      DOLLAR SEVENTY CENTS ($1.70) per share. 

     

    

    Section
      1.  Registration.
      The
      Company shall register this Warrant, upon records to be maintained by the
      Company for that purpose (the “Warrant Records”), in the name of the Registered
      Holder. The Company may deem and treat the Registered Holder as the absolute
      owner of this Warrant for the purpose of any exercise hereof or any distribution
      to the Registered Holder, and for all other purposes, and the Company shall
      not
      be affected by any notice to the contrary.

    

    Section
      2.  Registration
      of Transfers and Exchanges.

    

    (a) Subject
      to Section 11 hereof, the Company shall register the transfer of this Warrant,
      in whole or in part, upon records to be maintained by the Company for that
      purpose, upon surrender of this Warrant, with the Form of Assignment attached
      hereto completed and duly endorsed by the Registered Holder, to the Company
      at
      the office specified in or pursuant to Section 3(b). Upon any such registration
      of transfer, a new Warrant, in substantially the form of this Warrant,
      evidencing the Common Stock purchase rights so transferred shall be issued
      to
      the transferee and a new Warrant, in similar form, evidencing the remaining
      Common Stock purchase rights not so transferred, if any, shall be issued to
      the
      Registered Holder.

    

    (b) This
      Warrant is exchangeable, upon the surrender hereof by the Registered Holder
      at
      the office of the Company specified in or pursuant to Section 3(b) hereof,
      for
      new Warrants, in substantially the form of this Warrant evidencing, in the
      aggregate, the right to purchase the number of Warrant Shares which may then
      be
      purchased hereunder, each of such new Warrants to be dated the date of such
      exchange and to represent the right to purchase such number of Warrant Shares
      as
      shall be designated by the Registered Holder at the time of such
      surrender.

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    Section
      3.  Duration
      and Exercise of this Warrant.

    

    (a) This
      Warrant shall be exercisable by the Registered Holder as to any or all of the
      Warrant Shares at any time and from time to time during the period commencing
      on
      the Exercise Commencement Date and ending on the Expiration Date. For purposes
      hereof, the Exercise Commencement Date shall be the date of issuance specified
      on the first page hereof. For purposes hereof, the Expiration Date shall be
      May
      3, 2011. At 5:00 p.m., Eastern time, on the Expiration Date, this Warrant,
      to
      the extent not previously exercised, shall become void and of no further force
      or effect. 

    

    (b) Subject
      to Sections 4, and 11(a) hereof, upon exercise or surrender of this Warrant,
      with the Form of Election to Purchase attached hereto completed and duly
      endorsed by the Registered Holder, to the Company and delivered to the Company’s
      designated brokerage firm for warrant exercise and processing as described
      in
      the Warrant Exercise Policy on file at the Company offices at 120 Post Road
      West, Suite 202, Westport, Connecticut 06880, Attention: President, or at such
      other address as the Company may specify in writing to the Registered Holder,
      and upon payment of the Exercise Price multiplied by the number of Warrant
      Shares then to be issued upon exercise of this Warrant in lawful money of the
      United States of America, all as specified by the Registered Holder in the
      Form
      of Election to Purchase, the Company shall promptly issue and cause to be
      delivered to or upon the written order of the Registered Holder, and in such
      name or names as the Registered Holder may designate, a certificate for the
      Warrant Shares to be issued upon such exercise. Any person so designated in
      the
      Form of Election to Purchase, duly endorsed by the Registered Holder, as the
      person to be named on the certificates for the Warrant Shares, shall be deemed
      to have become holder of record of such Warrant Shares, evidenced by such
      certificates, as of the Date of Exercise (as hereinafter defined) of such
      Warrant.

    

    (c) The
      Registered Holder may pay the applicable Exercise Price pursuant to Section
      3(b), at the option of the Registered Holder, by cashier’s or certified bank
      check payable to the Company or by wire transfer of immediately available funds
      to the account which shall be indicated in writing by the Company to the
      Registered Holder in an amount equal to the product of the Exercise Price
      multiplied by the number of Warrant Shares being purchased upon such exercise
      (the “Aggregate Exercise Price”). 

     

    (d) The
“Date
      of Exercise” of any Warrant means the date on which the Company shall have
      received (i) this Warrant, with the Form of Election to Purchase attached hereto
      appropriately completed and duly endorsed, and (ii) payment of the Aggregate
      Exercise Price as provided herein.

    

    (e) This
      Warrant shall be exercisable either as an entirety or, from time to time, for
      part only of the number of Warrant Shares which are issuable hereunder. If
      this
      Warrant shall have been exercised only in part, the Company shall, at the time
      of delivery of the certificates for the Warrant Shares issued pursuant to such
      exercise, deliver to the Registered Holder a new Warrant evidencing the rights
      to purchase the remaining Warrant Shares, which Warrant shall be substantially
      in the form of this Warrant.

    

    (f) The
      Company may, by written notice to the Holder of the Warrant, appoint a transfer
      agent for the purpose of issuing Common Stock (or other securities) on the
      exercise of this Warrant, exchanging this Warrant, and replacing this Warrant,
      or any of the foregoing, and thereafter any such issuance, exchange or
      replacement, as the case may be, shall be made at such office by such Warrant
      Agent. 

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    Section
      4.  Payment
      of Taxes and Expenses. 

    

    (a)
       The
      Company will pay all expenses and taxes (other than any federal or state income
      tax or similar obligations of the Registered Holder) and other governmental
      charges attributable to the preparation, execution, issuance and delivery of
      this Warrant, any new Warrant and the Warrant Shares; provided,
      however,
      that
      the Company shall not be required to pay any tax in respect of the transfer
      of
      this Warrant or the Warrant Shares, or the issuance or delivery of certificates
      for Warrant Shares upon the exercise of this Warrant, to a person or entity
      other than a Registered Holder or an Affiliate (as hereinafter defined) of
      such
      Registered Holder. 

    

    (b) An
      “Affiliate” of any person or entity means any other person or entity directly or
      indirectly controlling, controlled by or under direct or indirect common control
      with such person or entity.

    

    Section
      5.  Mutilated
      or Missing Warrant Certificate. If
      this
      Warrant shall be mutilated, lost, stolen or destroyed, upon request by the
      Registered Holder, the Company will issue, in exchange for and upon cancellation
      of the mutilated Warrant, or in substitution for the lost, stolen or destroyed
      Warrant, a new Warrant, in substantially the form of this Warrant, of like
      tenor, but, in the case of loss, theft or destruction, only upon receipt of
      evidence reasonably satisfactory to the Company of such loss, theft or
      destruction of this Warrant and, if requested by the Company, indemnity also
      reasonably satisfactory to it.

    

    Section
      6.  Reservation,
      Listing and Issuance of Warrant Shares.

    

    (a) The
      Company will at all times have authorized, and reserve and keep available,
      free
      from preemptive rights, for the purpose of enabling it to satisfy any obligation
      to issue Warrant Shares upon the exercise of the rights represented by this
      Warrant, the number of Warrant Shares deliverable upon exercise of this Warrant.
      The Company will, at its expense, cause such shares to be included in or listed
      on (subject to issuance or notice of issuance of Warrant Shares) all markets
      or
      stock exchanges in or on which the Common Stock is included or listed not later
      than the date on which the Common Stock is first included or listed on any
      such
      market or exchange and will thereafter maintain such inclusion or listing of
      all
      shares of Common Stock from time to time issuable upon exercise of this
      Warrant.

    

    (b) Before
      taking any action which could cause an adjustment pursuant to Section 7 hereof
      reducing the Exercise Price below the par value of the Warrant Shares, the
      Company will take any corporate action which may be necessary in order that
      the
      Company may validly and legally issue at the Exercise Price, as so adjusted,
      Warrant Shares that are fully paid and non-assessable.

    

    (c) The
      Company covenants that all Warrant Shares will, upon issuance in accordance
      with
      the terms of this Warrant, be (i) duly authorized, fully paid and nonassessable,
      and (ii) free from all taxes with respect to the issuance thereof and from
      all
      liens, charges and security interests.

    

    Section
      7.  Adjustment
      of Number of Warrant Shares. The
      number of Warrant Shares to be purchased upon exercise hereof is subject to
      change or adjustment from time to time as hereinafter provided:

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

       

    

    (a) Stock
      Dividends; Subdivisions and Combinations of Common Stock.
      In the
      event that the Company shall (a) issue additional shares of the Common
      Stock as a dividend or other distribution on outstanding Common Stock,
      (b) subdivide its outstanding shares of Common Stock, or (c) combine
      its outstanding shares of the Common Stock into a smaller number of shares
      of
      the Common Stock, then, in each such event, the Exercise Price shall,
      simultaneously with the happening of such event, be adjusted by multiplying
      the
      then Purchase Price by a fraction, the numerator of which shall be the number
      of
      shares of Common Stock outstanding immediately prior to such event and the
      denominator of which shall be the number of shares of Common Stock outstanding
      immediately after such event, and the product so obtained shall thereafter
      be
      the Purchase Price then in effect. The Exercise Price, as so adjusted, shall
      be
      readjusted in the same manner upon the happening of any successive event or
      events described herein in this Section 7(A). The number of shares of
      Common Stock that the Holder of this Warrant shall thereafter, on the exercise
      hereof as provided in Section 1, be entitled to receive shall be adjusted
      to a number determined by multiplying the number of shares of Common Stock
      that
      would otherwise (but for the provisions of this Section 7(a)) be issuable
      on such exercise by a fraction of which (a) the numerator is the Exercise
      Price that would otherwise (but for the provisions of this Section 7(a)) be
      in effect, and (b) the denominator is the Exercise Price in effect on the
      date of such exercise.

     

    (b) Adjustments
      for Consolidation, Merger, Sale of Assets, Reorganization, etc.
      In the
      event that the Company (i) consolidates with or merges into any other
      corporation and is not the continuing or surviving corporation of such
      consolidation of merger, or (ii) consolidates with or merges any other
      corporation into the Company and the Company is the continuing or surviving
      corporation but, in connection with such consolidation or merger, the Common
      Stock is changed into or exchanged for stock or other securities of any other
      corporation or cash or any other assets, or (iii) transfers all or substantially
      all of its properties and assets to any other corporation, or (iv) effects
      a
      capital reorganization or reclassification of the capital stock of the Company
      in such a way that holders of Common Stock shall be entitled to receive stock,
      securities, cash and/or assets with respect to or in exchange for Common Stock,
      then, and in each such case, proper provision shall be made so that, upon the
      basis and upon the terms and in the manner provided in this subsection (f),
      the
      Registered Holder, upon the exercise of this Warrant at any time after the
      consummation of such consolidation, merger, transfer, reorganization or
      reclassification, shall be entitled to receive (at the aggregate Exercise Price
      in effect for all shares of Common Stock issuable upon such exercise immediately
      prior to such consummation as adjusted to the time of such transaction), in
      lieu
      of shares of Common Stock issuable upon such exercise prior to such
      consummation, the stock and other securities, cash and/or assets to which such
      holder would have been entitled upon such consummation if the Registered Holder
      had so exercised this Warrant immediately prior thereto (subject to adjustments
      subsequent to such corporate action as nearly equivalent as possible to the
      adjustments provided for in this Section).

    

    (c) Share
      Issuance at Less Than Exercise Price.
      In the
      event that the Company shall issue any Common Stock or any security, debt
      instrument, warrant, right or option to purchase Common Stock prior to the
      complete exercise of this Warrant for a consideration less than the Exercise
      Price, as may be adjusted from time to time pursuant to Sections 7(a), 7(b)
      or
      7(c) hereof, then and thereafter successively upon each such issue, the Exercise
      Price shall be reduced to such other lower issue price. For purposes of this
      adjustment, the issuance of any security or debt instrument of the Company
      carrying the right to convert such security or debt instrument into Common
      Stock
      or of any warrant, right or option to purchase Common Stock shall result in
      an
      adjustment to the Exercise Price upon the issuance of the above-described
      security, debt instrument, warrant, right, or option. This Section 7(c) shall
      not apply to issuances to employees, directors or consultants under a stock
      incentive or bonus plan whether or not such plan is covered by an effective
      registration statement on Form S-8. 

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

       

    

     (d) Notice
      of Adjustment.
      Upon
      any adjustment of the Exercise Price, then and in each case the Company shall
      promptly deliver a notice to the Registered Holder and either (i) a certificate
      of the chief financial officer of the Company or (ii) upon the request of the
      Registered Holder, the opinion of a firm of independent certified public
      accountants (which may be the regular auditors of the Company) of recognized
      national standing selected by the Board of Directors, which notice or opinion
      shall state the Exercise Price resulting from such adjustment and the increase
      or decrease, if any, in the number of shares purchasable at such price upon
      the
      exercise of this Warrant, setting forth in reasonable detail the method of
      calculation and the facts upon which such calculation is based.

     

    (e) Other
      Notices.
      In case
      at any time:

    

    (i) the
      Company shall declare any cash dividend on its Common Stock;

    

    (ii) the
      Company shall pay any dividend payable in stock upon its Common Stock or make
      any distribution (other than regular cash dividends) to the holders of its
      Common Stock;

    

    (iii) the
      Company shall offer for subscription pro
      rata
      to the
      holders of its Common Stock any additional shares of stock of any class or
      other
      rights;

    

    (iv) the
      Company shall authorize the distribution to all holders of its Common Stock
      of
      evidences of its indebtedness or assets (other than cash dividends or cash
      distributions payable out of earnings or earned surplus or dividends payable
      in
      Common Stock);

    

    (v) there
      shall be any capital reorganization, or reclassification of the capital stock
      of
      the Company, or consolidation or merger of the Company with another corporation
      (other than a subsidiary of the Company in which the Company is the surviving
      or
      continuing corporation and no change occurs in the Company’s Common Stock), or
      sale of all or substantially all of its assets to another
      corporation;

    

    (vi)
       there
      shall be a voluntary or involuntary dissolution, liquidation, bankruptcy,
      assignment for the benefit of creditors, or winding up of the Company;

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

       

    

    then,
      in
      any one or more of said cases the Company shall give written notice, addressed
      to the Registered Holder at the address of such Registered Holder as shown
      on
      the books of the Company, of (1) the date on which the books of the Company
      shall close or a record shall be taken for such dividend, distribution or
      subscription rights, or (2) the date (or, if not then known, a reasonable
      approximation thereof by the Company) on which such reorganization,
      reclassification, consolidation, merger, sale, dissolution, liquidation,
      bankruptcy, assignment for the benefit of creditors, winding up or other action,
      as the case may be, shall take place. Such notice shall also specify (or, if
      not
      then known, reasonably approximate) the date as of which the holders of Common
      Stock of record shall participate in such dividend, distribution or subscription
      rights, or shall be entitled to exchange their Common Stock for securities
      or
      other property deliverable upon such reorganization, reclassification,
      consolidation, merger, sale, dissolution, liquidation, bankruptcy, assignment
      for the benefit of creditors, winding up, or other action, as the case may
      be.
      Such written notice shall be given at least thirty (30) days prior to the action
      in question and not less than thirty (30) days prior to the record date or
      the
      date on which the Company’s transfer books are closed in respect thereto. Such
      notice shall also state that the action in question or the record date is
      subject to the effectiveness of a registration statement under the 1933 Act,
      or
      to a favorable vote of stockholders, if either is required.

     

    Section 8. Certain
      Dividends and Distributions.
      In the
      event that the Company shall at any time prior to the exercise of this Warrant
      declare a dividend or otherwise distribute to its stockholders any monies,
      assets, property, rights, evidences of indebtedness, securities (other than
      shares of Common Stock), whether issued by the Company or by another person
      or
      entity, or any other thing of value, the Registered Holder shall thereafter
      be
      entitled, in addition to the shares of Common Stock receivable upon the exercise
      of the Warrant, to receive, upon the exercise of the Warrant, the same monies,
      property, assets, rights, evidences of indebtedness, securities or any other
      thing of value that the Registered Holder would have been entitled to receive
      at
      the time of such dividend or distribution had the Registered Holder been an
      owner of record of the shares of Common Stock into which the Warrant is then
      being exercised as of the record date or other date of determination for such
      dividend or distribution and an appropriate provision (which provision may
      include without limitation, the establishment of an escrow agreement in favor
      of
      the Registered Holder in which the portion of the dividend or distribution
      attributable to such warrants is held) shall be made a part of any such dividend
      or distribution. Notwithstanding any provision herein to the contrary, no
      adjustment under this Section 8 shall be made with respect to any cash dividend
      or distribution payable solely out of current or retained earnings of the
      Company.

    

    Section
      9.  No
      Rights or Liabilities as a Stockholder.
      The
      Registered Holder shall not be entitled to vote or be deemed the holder of
      Common Stock or any other securities of the Company which may at any time be
      issuable on the exercise hereof, nor shall anything contained herein be
      construed to confer upon the holder of this Warrant, as such, the rights of
      a
      stockholder of the Company or the right to vote for the election of directors
      or
      upon any matter submitted to stockholders at any meeting thereof, or give or
      withhold consent to any corporate action or to receive notice of meetings or
      other actions affecting stockholders (except as provided herein), or to receive
      dividends or subscription rights or otherwise, until the Date of Exercise shall
      have occurred. No provision of this Warrant, in the absence of affirmative
      action by the Registered Holder hereof to purchase shares of Common Stock,
      and
      no mere enumeration herein of the rights and privileges of the Registered
      Holder, shall give rise to any liability of such holder for the Exercise Price
      or as a stockholder of the Company, whether such liability is asserted by the
      Company or by creditors of the Company.

    

    Section
      10.  Fractional
      Warrant Shares. The
      Company shall not be required to issue fractions of Warrant Shares upon exercise
      of the Warrant or to distribute certificates which evidence fractional Warrant
      Shares. If any fraction of a Warrant Share would, except for the provisions
      of
      this Section 10, be issuable on the exercise of any Warrant (or specified
      portion thereof), the Company shall pay to the Registered Holder an amount
      in
      cash equal to the Market Price as of the Exercise Date, multiplied by such
      fraction.

    

    Section
      11.  Transfer
      Restrictions; Registration of the Warrant and Warrant
      Shares.

    

    (a) Neither
      the Warrant nor the Warrant Shares have been registered under the 1933 Act.
      The
      Registered Holder, by acceptance hereof, represents that it is acquiring this
      Warrant to be issued to it for its own account and not with a view to the
      distribution thereof, and agrees not to sell, transfer, pledge or hypothecate
      this Warrant, any purchase rights evidenced hereby or any Warrant Shares unless
      a registration statement is effective for this Warrant or the Warrant Shares
      under the 1933 Act or in the opinion of such Registered Holder’s counsel
      reasonably satisfactory to the Company, a copy of which opinion shall be
      delivered to the Company, such transaction is exempt from the registration
      requirements of the 1933 Act.

    

    (b) Subject
      to the provisions of the following paragraph of this Section 11, each
      Certificate for Warrant Shares shall be stamped or otherwise imprinted with
      a
      legend in substantially the following form:

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR APPLICABLE STATE
      SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR OTHERWISE
      DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH
      SECURITIES UNDER THE 1933 ACT, OR AN OPINION OF COUNSEL, SATISFACTORY TO THE
      ISSUER HEREOF, TO THE EFFECT THAT REGISTRATION IS NOT REQUIRED UNDER THE 1933
      ACT.

    

    (c) The
      restrictions and requirements set forth in the foregoing paragraph shall apply
      with respect to Warrant Shares unless and until such Warrant Shares are sold
      or
      otherwise transferred pursuant to an effective registration statement under
      the
      1933 Act or are otherwise no longer subject to the restrictions of the 1933
      Act,
      at which time the Company agrees to promptly cause such restrictive legends
      to
      be removed and stop transfer restrictions applicable to such Warrant Shares
      to
      be rescinded.

     

    (d) The
      Company will use its best efforts to comply with the reporting requirements
      of
      Section 13 and 15(d) of the Securities Exchange Act of 1934, as amended (the
      "1934 Act") (whether or not it shall be required to do so pursuant to such
      Sections) and will use its best efforts to comply with all other public
      information reporting requirements of the Securities and Exchange Commission
      (including, without limitation, Securities and Exchange Commission (“SEC”) Rule
      144 promulgated under the 1933 Act) from time to time in effect and relating
      to
      the availability of an exemption from the 1933 Act for sale of restricted
      securities. The Company also will cooperate with the Registered Holder and
      with
      each holder of any Warrant Shares in supplying such information as may be
      necessary for any such holders to complete and file any information reporting
      forms presently or hereafter required by the SEC as a condition to the
      availability of an exemption from the 1933 Act for the sale of restricted
      securities.

     

    Section
      12. Company
      Redemption Rights.
      In the
      event that the Company’s stock price has a closing bid price at or above $2.50
      per share, subject to adjustment as set forth in the Warrant, for twenty (20)
      consecutive Trading Days, the Company may, after providing the Holder thirty
      (30) written notice (the “Redemption Notice”), redeem the outstanding Warrants
      unless the Holder, upon receipt of the Redemption Notice, exercises his/her/its
      Warrant rights and pays in full the Exercise Price, as adjusted in Section
      7
      hereof, if applicable. If the Holder fails to timely pay the amount set forth
      in
      the Redemption Notice, the Company’s sole remedy shall be to cancel a
      corresponding amount of this Warrant. Unless otherwise agreed to by the Holder
      of this Warrant, a Redemption Notice must be given to all Warrant holders who
      receive Warrants similar to this Warrant (in terms of Exercise Price and other
      principal terms) issued on or about the same Date of Issuance as this Warrant,
      in proportion to the amounts of Common Stock which may be purchased by the
      respective holders in accordance with the respective Warrants held by each.
      

     

    Section
      13. Notices.
      All
      notices, requests, demands and other communications relating to this Warrant
      shall be in writing and shall be deemed to have been duly given if delivered
      personally or sent by United States certified or registered first-class mail,
      postage prepaid, return receipt requested, to the parties hereto at the
      following addresses or at such other address as any party hereto shall hereafter
      specify by notice to the other party hereto:

    

    (a) If
      to the
      Registered Holder of this Warrant or the holder of the Warrant Shares, addressed
      to the address of such Registered Holder or holder as set forth on books of the
      Company, or otherwise furnished by the Registered Holder or holder to the
      Company.

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

       

    

    (b) If
      to the
      Company, addressed to:

    

    The
      American Energy Group, Ltd.

    120
      Post
      Road West, Suite 202

    Westport,
      Connecticut 06880

    Attn:
      President

    

    Section
      14. Binding
      Effect.
      This
      Warrant shall be binding upon and inure to the sole and exclusive benefit of
      the
      Company, its successors and assigns, and the holder or holders from time to
      time
      of this Warrant and the Warrant Shares.

    

    Section
      15. Survival
      of Rights and Duties. This
      Warrant shall terminate and be of no further force and effect on the earlier
      of
      (i) 5:00 p.m., Eastern time, on the Expiration Date and (ii) the date on which
      this Warrant and all purchase rights evidenced hereby have been exercised,
      except that the provisions of Sections 4, 6(c) 11 and 12 hereof shall continue
      in full force and effect after such termination date.

    

    Section
      16. Governing
      Law.
      This
      Warrant shall be construed in accordance with and governed by the laws of the
      State of Nevada.

    

    Section
      17. Section
      Headings. The
      Section headings in this Warrant are for purposes of convenience only and shall
      not constitute a part hereof.

    

    IN
      WITNESS WHEREOF, the Company has caused this Warrant to be executed under its
      corporate seal by its officers thereunto duly authorized as of the date
      hereof.

    

    SIGNATURES
      APPEAR ON FOLLOWING PAGE

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

       

      
        	 	 	 
	 	THE
                AMERICAN ENERGY GROUP, LTD.
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Pierce
                Onthank, President and CEO
	 	 

      

       

      
        
           

        

        
          9

          
            

          

        

        
           

        

         

      

    

    FORM
      OF ELECTION TO PURCHASE

    

    

    (To
      Be
      Executed Upon Exercise of this Warrant)

    

    To
      The
      American Energy Group, Ltd.:

    

    The
      undersigned, the record holder of this Warrant (Warrant No. _____), hereby
      irrevocably elects to exercise the right, represented by this Warrant, to
      purchase ___________ of the Warrant Shares and herewith tenders payment for
      such
      Warrant Shares to the order of The American Energy Group, Ltd. of $_________
      representing the full purchase price for such shares at the price per share
      provided for in such Warrant and the delivery of any applicable taxes payable
      by
      the undersigned pursuant to such Warrant.

    

    The
      undersigned requests that certificates for such shares be issued in the name
      of:

    

    
      	                                   
              	 	 
	                              
              	 	 
	                            
              	 	 
	                          
              	 	                               
              
	(Please print name and address) 	 	Social Security or Tax Identification
              No.
              

    

    
      

    In
      the
      event that not all of the purchase rights represented by the Warrant are
      exercised, a new Warrant, substantially identical to the attached Warrant,
      representing the rights formerly represented by the attached Warrant which
      have
      not been exercised, shall be issued in the name of and delivered to:

     

    
      
        	                                   
                	 	 
	                              
                	 	 
	                            
                	 	 
	                          
                	 	                               
                
	(Please print name and address) 	 	Social Security or Tax Identification
                No.
                

      

      

    
       

      
        
          	Dated:
                  ________________                         
                  	Name
                  of Holder (Print):
	                              
                  	 	 
	                            
                  	
                  By:

                	                                
                  
	                          
                  	
                  (Name):

                	
                     
                                                                                    
                    

                
	(Please
                  print name and address) 	
                  (Title):

                	                                                   
                  

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    FORM
      OF ASSIGNMENT

    

    FOR
      VALUE
      RECEIVED, _______________________ hereby sells, assigns and transfers to each
      assignee set forth below all of the rights of the undersigned under the attached
      Warrant (Warrant No. _____) with respect to the number of shares of Common
      Stock
      covered thereby set forth opposite the name of such assignee unto:

    

    
      	 	
              Name
                of Assignee

            	 	
              Address

            	 	
              Number
                of Shares of

            	 
	 	 	 	 	 	
              Common
                Stock

            	 

    

     

    

    If
      the
      total of said purchase rights represented by the Warrant shall not be assigned,
      the undersigned requests that a new Warrant Certificate evidencing the purchase
      rights not so assigned be issued in the name of and delivered to the
      undersigned.

     

    
      
         

        
          
            	Dated:
                    ________________                         
                    	Name
                    of Holder (Print):
	                              
                    	 	 
	                            
                    	
                    By:

                  	                                
                    
	                          
                    	
                    (Name):

                  	
                       
                                                                                      
                      

                  
	(Please
                    print name and address) 	
                    (Title):

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}]]