Document:

#703190 v4
                                Page 4 of 4 Pages
#703190 v4
THIS NOTE HAS BEEN ACQUIRED FOR  INVESTMENT AND NEITHER THIS NOTE NOR THE SHARES
OF COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE BEEN REGISTERED UNDER
APPLICABLE  CANADIAN OR U.S.  FEDERAL OR APPLICABLE STATE SECURITIES LAWS. THESE
SHARES MAY NOT BE SOLD OR TRANSFERRED EXCEPT IN COMPLIANCE WITH APPLICABLE RULES
OF THE CANADIAN VENTURE EXCHANGE, THE ALBERTA SECURITIES COMMISSION AND U.S.
FEDERAL AND APPLICABLE STATE SECURITIES LAWS.

                           CONVERTIBLE PROMISSORY NOTE

April 3, 2001                    Houston, Texas                      $180,000.00

     FOR  VALUE  RECEIVED,  the  undersigned,   Carpatsky  Petroleum,   Inc.,  a
corporation organized under the laws of the Province of Alberta,  Canada (herein
called  "Maker"),  promises to pay to the order of Pease Oil and Gas Company,  a
corporation  organized  under  the laws of the State of  Nevada  (herein  called
"Payee",  which term herein in every instance shall refer to any owner or holder
of  this  Note)  the sum of One  Hundred  Eighty  Thousand  and  no/100  dollars
($180,000.00), without interest, such principal being payable in lawful money of
the United  States of America  at the  office of Payee in Grand  Junction,  Mesa
County,  Colorado,  or at such other place as Payee may  designate  hereafter in
writing.

     The principal balance hereof remaining unpaid shall not bear interest.

     All past due  principal  of this Note shall bear  interest at the lesser of
(1) 2% above the annual  rate which  equals the  floating  commercial  loan rate
publicly announced from time to time by Wells Fargo Bank West N.A. as its "prime
rate," or (2) the maximum  lawful rate of interest  permitted by the  applicable
usury laws,  now or hereafter  enacted,  which  interest rate (herein called the
"Maximum  Rate")  shall  change when and as said laws shall change to the extent
permitted  by said laws,  effective  on the day such  change in said laws become
effective,  from the date the  payment  thereof  shall have become due until the
same have been fully  discharged  by  payment,  and all such past due  principal
shall be immediately due and payable.

     The principal amount  outstanding  under this Note shall be repaid to Payee
in eight equal quarterly  installments of $22,500 each (a "Quarterly  Payment"),
on the first day of June,  September,  December  and March,  commencing  June 1,
2001,   with  all   remaining   principal  due  on  or  before  March  1,  2003.
Notwithstanding the immediately  preceding sentence, if at any time prior to the
payment in full of this Note,  Maker  receives  capital  from the closing of any
debt or equity funding  transaction of any kind, then within five days after the
closing of such  funding  transaction  Maker shall make a  principal  payment (a
"Funding Payment") to Payee equal to the gross amount of capital raised by Maker
times a fraction, the numerator of which is $90,000 and the denominator of which
is  $1,000,000,  but in no event  shall  any such  Funding  Payment  exceed  the
outstanding  principal  amount  due on this Note as of the date of  closing  the
funding transaction.  The amount of any Funding Payment shall be applied against
the  Quarterly  Payments  due  hereunder,  in the inverse  order of  approaching
maturities.

     So long as any principal amount is outstanding under this Note, Maker shall
furnish  Payee  with (1)  notice 15 days  prior to the  closing  of any  funding
transaction  as  described  in  the  immediately  preceding  paragraph  and  (2)
unaudited  quarterly  statements  of  income or loss,  cash  flow and  financial
position  (in each case within 45 days after the end of the first  three  fiscal
quarters of each fiscal year of Maker) and an annual audited statement of profit
or loss, cash flow, and financial position (within 90 days after the end of each
fiscal year of Maker).

     Maker may prepay  this Note in whole or in part at any time  without  being
required to pay any penalty herein for such privilege.

     If  Maker  shall  file a  voluntary  petition  in  bankruptcy,  or shall be
adjudicated  a  bankrupt  or  insolvent,  or shall file any  petition  or answer
seeking for Maker any arrangement, composition,  readjustment, or similar relief
under any present or future statute, law or regulation, or shall file any answer
admitting the material allegations of a petition filed against Maker in any such
proceeding,  or shall seek or consent to or acquiesce in the  appointment of any
trustee or receiver,  on all or any substantial part of the properties of Maker,
or if a decree or order by a court having  jurisdiction  in the  premises  shall
have  been  entered  adjudging  Maker to be  bankrupt  or  insolvent  under  the
bankruptcy  laws or any  applicable law of the Province of Alberta,  Canada,  or
appointing  a receiver or trustee or assignee in  bankruptcy  or  insolvency  of
Maker  or any of  Maker's  properties,  and such  decree  or  order  shall  have
continued  undischarged  or unstayed for a period of 30 days,  or if Maker shall
make an assignment  for the benefit of creditors,  or if Maker shall fail to pay
this Note or any installment  hereof,  whether principal or interest,  when due,
then Payee shall have the option,  to the extent permitted by applicable law, to
declare this Note due and payable, whereupon the entire unpaid principal balance
of this Note and all accrued  unpaid  interest  hereon  thereupon  at once shall
mature and become due and payable without presentment, demand, protest or notice
of any kind (including, but not limited to, notice of intention to accelerate or
notice of acceleration), all of which hereby are expressly waived by Maker.

     Maker hereby waives grace, demand,  presentment for payment,  notice of any
kind  (including,  but not limited to,  notice of  dishonor,  notice of protest,
notice of intention to accelerate and notice of  acceleration)  and diligence in
collecting and bringing suit against Maker, and agrees (i) to all extensions and
partial  payments,  with or without notice,  before or after maturity,  and (ii)
that it will not be  necessary  for Payee,  in order to enforce  payment of this
Note, to first institute or exhaust Payee's remedies against Maker.

     In the event of default  hereunder  and this Note is placed in the hands of
an attorney for  collection  (whether or not suit is filed),  or if this Note is
collected  by  suit or  legal  proceedings  or  through  the  probate  court  or
bankruptcy  proceedings,  Maker agrees to pay all reasonable attorneys' fees and
all expenses of collection and costs of court.

     If  any  provision  in  this  Note  shall  be  held  invalid,   illegal  or
unenforceable in any jurisdiction,  the validity,  legality or enforceability of
any  defective  provisions  shall not be in any way  affected or impaired in any
other jurisdiction,  nor shall the invalid,  illegal or unenforceable  provision
affect or impair any other provision of this Note.

     No delay or failure of the holder of this Note in the exercise of any right
or remedy  provided  for  hereunder  shall be  deemed a waiver of such  right or
remedy by the holder  hereof,  and no exercise  of any right or remedy  shall be
deemed a waiver of any other right or remedy that the holder may have.

     It is  the  intention  of  the  parties  hereto  to  comply  strictly  with
applicable usury laws, if any, accordingly, notwithstanding any provision to the
contrary in this Note, in no event shall this Note or such documents  require or
permit the payment, taking, reserving,  receiving, collection or charging of any
sums constituting interest under applicable laws which exceed the maximum amount
permitted by such laws.  If any such excess  interest is called for,  contracted
for, charged, taken, reserved, or received in connection with the loan evidenced
by this note, or in any  communication by Payee or any other person to Maker, or
in the event all or part of the principal or interest hereof shall be prepaid or
accelerated,  so that  under  any of  such  circumstances  or  under  any  other
circumstance  whatsoever the amount of interest contracted for, charged,  taken,
reserved,  or received on the amount of principal actually outstanding from time
to time under this note shall exceed the maximum amount of interest permitted by
applicable  usury laws, then in any such event it is agreed as follows:  (i) the
provisions of this paragraph shall govern and control,  (ii) the Maker shall not
be obligated to pay the amount of such  interest to the extent such  interest is
in excess of the maximum amount of interest  permitted by applicable usury laws,
(iii)  any  such  excess  which  is or has been  received  notwithstanding  this
paragraph shall be credited against the then unpaid principal balance hereof or,
if this  note  has been or would  be paid in full by such  credit,  refunded  to
Maker, and (iv) the provisions of this note and any communication to Maker shall
immediately be deemed  reformed and such excess  interest  reduced,  without the
necessity of executing any other  document,  to the maximum  lawful rate allowed
under   applicable  laws  as  now  or  hereafter   construed  by  courts  having
jurisdiction hereof or thereof. Without limiting the foregoing, all calculations
of the rate of interest contracted for, charged,  collected, taken, reserved, or
received in connection  herewith  which are made for the purpose of  determining
whether  such rate  exceeds the maximum  lawful rate shall be made to the extent
permitted by applicable laws by amortizing,  prorating, allocating and spreading
during  the  period  of the full  term of the  loan,  including  all  prior  and
subsequent  renewals and  extensions,  all interest at any time  contracted for,
charged,  taken,  collected,  reserved, or received. The terms of this paragraph
shall be deemed to be  incorporated  in every loan  document  and  communication
relating to this Note.

     Subject to the approval of the Canadian Venture Exchange, at any time prior
to the payment in full of this Note,  Payee by delivery of this Note and written
notice to the Maker may convert  all,  but not less than all,  of the  remaining
outstanding  principal  due  hereunder as of the date of delivery and receipt by
Maker of such notice (the  "Outstanding  Amount") into the number of fully paid,
and  non-assessable  shares (the "Shares") of common stock, no par value, of the
Maker (the "Common  Stock") equal to 100% of the  Outstanding  Amount divided by
the  Conversion  Price . The  Conversion  Price shall be the lesser of (1) $.075
Canadian  per share or (2) the price at which Maker may sell the Common Stock or
any other  securities  convertible  into its  Common  Stock at any time prior to
payment in full of this Note; provided that if a price other than that set forth
in clause (1) or (2) is prescribed by the Canadian  Venture  Exchange as part of
its approval,  then the Conversion Price shall be the price so prescribed by the
Canadian  Venture  Exchange.  Payee  acknowledges  that the Shares have not been
registered  under the applicable  Canadian or U.S.  federal or applicable  state
securities  laws, and may not be issued upon conversion of this Note or exercise
of the option contained herein unless in compliance with applicable rules of the
Canadian Venture Exchange,  the Alberta  Securities  Commission and U.S. federal
and applicable state securities laws. Any shares of Common Stock issued to Payee
under this Note shall have the same  registration  rights  granted to Bellwether
Exploration  Company by Maker  under the  Registration  Rights  Agreement  dated
October 7, 1999 as amended December 10, 1999.

     In the event of a stock split or reverse split, such Conversion Price shall
be  automatically  reduced or  increased  to reflect such stock split or reverse
split. In the event of any capital  reorganization  or  reclassification  of the
capital  stock of the Maker,  any  consolidation  or merger of the Maker with or
into another  corporation,  or any sale,  lease or other  disposition  of all or
substantially  all of the assets of the Maker, that is effected in such a manner
that holders of shares of the Common  Stock are  entitled to receive  securities
and/or  property  (including  cash) with respect to or in exchange for shares of
the Common Stock, the Maker shall, as a condition precedent to such transaction,
cause  effective  provision  to be made so  that  Payee  shall  have  the  right
thereafter  to convert  this Note for the kind and amount of  securities  and/or
other property receivable upon such event by a holder of the number of shares of
the Common Stock for which this Note could have been converted immediately prior
to such event.

     Except to the extent  required by federal law,  this Note shall be governed
by and construed under the laws of the State of Colorado.

     Any check,  draft,  money order or other instrument given in payment of all
or any portion  hereof may be accepted by Payee and handled in collection in the
customary  manner,  but the same  shall  not  constitute  payment  hereunder  or
diminish any rights of Payee  except to the extent that actual cash  proceeds of
such instrument are unconditionally received by Payee.

                            CARPATSKY PETROLEUM, INC.

                            By: /s/ Robert Bensh
                            ------------------------
                            Robert Bensh, PresidentEXHIBIT 10.39
                                                                   -------------

                                       AB

                      Commodore Applied Technologies, Inc.
                        150 East 58th Street, Suite 3238
                               New York, NY 10155
                Telephone (212)-308-5800 Facsimile (212)-753-0731
--------------------------------------------------------------------------------

                          WARRANT TO PURCHASE SHARES OF
              COMMON STOCK OF COMMODORE APPLIED TECHNOLOGIES, INC.

                                                                         12/4/00
                                                              New York, New York

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT") AND SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE,
PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED

                       VOID AFTER 5:00 P.M., NEW YORK TIME
                                   ON 8/30/05

         THIS CERTIFIES THAT for value received, William J. Russell and Nancy E.
Russell in Joint Tenancy with Rights of Survivorship, or its registered
permitted assigns (hereinafter collectively referred to as the "Holder"), may
subscribe for and purchase, subject to the terms and conditions hereof, from
Commodore Applied Technologies, Inc., a Delaware corporation (the "Company"),
340,000 shares of Common Stock of the Company, par value $0.001 per share (the
"Common Stock"), at any time during the period (the "Exercise Period")
commencing at 9:00 a.m. New York Time on 8/30/00 (the "Commencement Date") and
ending at 5:00 p.m. New York Time, on 8/30/05, a date which is five (5) years
from the Commencement Date (the "Expiration Date"), at an exercise price per
share (the "Exercise Price") which shall be equal to Two Dollars and No Cents
($2.00) per share. The number of shares of Common Stock issuable upon exercise
of tits Warrant (the "Warrant Shares"), the Exercise Price, and the kind of
securities issuable upon exercise of this Warrant, shall be subject to
adjustment from time to time upon the occurrence of certain events as set forth
below.

         Certain Definitions.       As used herein:
         --------------------

         (a) the term `Warrant Shares" shall mean the shares of Common Stock
         issuable upon exercise of this Warrant, as adjusted from time to time,

<PAGE>

         1.       Exercise Price and Expiration.
                  -----------------------------

                  (a) This Warrant may be exercised in whole or in part on any
Business Day (as such term is hereinafter defined) at any time during the
Exercise Period upon surrender to the Company, at its address for notices set
forth in Section 7 of this Warrant (or at such other office of the Company, if
any, or such other office of the Company's duly authorized agent for such
purpose, as may be maintained by the Company for such purpose and so designated
by the Company by written notice to the Holder prior to such exercise), together
with the following: (i) a duly completed and executed Notice of Warrant Exercise
in the form annexed hereto, and (ii) payment of the full Exercise Price for this
Warrant or the portion thereof then being exercised. This Warrant and all rights
and options hereunder shall expire on, and shall be immediately wholly null and
void to the extent the Warrant is not properly exercised prior to the Expiration
Date. As used in this Warrant the term "Business Day" shall mean the time period
between 9:00 a.m. New York, New York Time and 5:00 p.m. New York, New York Time
on any day other than any Saturday, Sunday, or other day on which commercial
banks in New York, New York are required or are authorized by law to close.

                  (b) Such Exercise Price shall be paid in lawful money of the
United States of America by bank cashier's check or by wire transfer of
immediately available funds to such account as shall have been designated in
writing by the Company to the Holder from time to time.

                  (c) Upon the Holder's surrender of the Warrant and payment of
the Exercise Price as set forth above, the Company shall promptly issue and
cause to be delivered to the Holder a certificate or certificates for the total
number of whole shares of Common Stock for which this Warrant is then so
exercised, as the case may be (adjusted to reflect the effect of the
anti-dilution provisions contained in Section 2 of this Warrant, if any) in such
denominations as are requested for delivery to the Holder, and the Company shall
thereupon deliver such certificates to the Holder. The Holder shall be deemed to
be the Holder of record of the shares of Common Stock issuable upon such
exercise, notwithstanding that the stock transfer books of the Company shall
then be closed or that certificates representing such shares of Common Stock
shall not then be actually delivered to the Holder. If, at the time this Warrant
is exercised, a registration statement under the Securities Act is not then in
effect to register under said Securities Act the Warrant Shares issuable upon
exercise of this Warrant (together with any applicable state securities law
registrations), the Company may require the Holder to make such representations,
and may place such legends on certificates representing the Warrant Shares, as
may be reasonably required in the opinion of counsel to the Company to permit
the Warrant Shares to be issued without such registration, unless the Company
receives an opinion of counsel reasonably satisfactory to counsel to the Company
to the effect that said securities may be freely traded without registration
under the Securities Act.

                  (d) If the Holder shall exercise this Warrant with respect to
less than all of the Warrant Shares that may then be purchased under this
Warrant, having taken into account any prior exercise of the Warrant, the
Company shall promptly execute and deliver to the Holder a new warrant in the
form of this Warrant for the balance of such Warrant Shares.

         2.       Certain Anti-dilution Adjustments.
                  ---------------------------------

                  (a) If the Company shall (i) pay a dividend or make a
distribution to Holders of shares of Company Common Stock in the form of
additional shares of Common Stock, (ii) subdivide or split or reverse split or
consolidate the outstanding shares of Common Stock into a larger or smaller
number of shares, (iii) effect an increase or decrease in the number of shares
of Common Stock without consideration, or (iv) effect a recapitalization which
shall reclassify the outstanding shares of Common Stock into one or more classes
of Common Stock, the number of shares of Common Stock issuable upon exercise of
this Warrant and the Exercise Price shall be equitably and proportionately
adjusted immediately following the occurrence of any such event, and the Holder
of record of this Warrant shall be given notice of the same at such Holder's
address in the Company's books and records. An adjustment made pursuant to this
Section shall become effective immediately after the record date in the case of
a dividend or distribution and immediately after the effective date in the case
of a subdivision, split, combination or reclassification; provided, if such

                                       2
<PAGE>

record date shall have been fixed and such dividend is not fully paid or if such
distribution is not fully made on the date fixed therefor, the exercise price
shall be recomputed accordingly as of the close of business on such record date
and thereafter such exercise price in effect shall be as adjusted pursuant to
this Section as of the time of actual payment of such dividend or distribution.

                  (b) Whenever there shall be an adjustment as provided in this
Section 2, the Company shall promptly cause written notice thereof to be sent by
registered mail, postage prepaid, to the Holder, at its address as it shall
appear in the Warrant Register, which notice shall be accompanied by an
officer's certificate setting forth the number of Warrant Shares purchasable
upon the exercise of this Warrant and the Exercise Price after such adjustment
and setting forth a brief statement of the facts requiring such adjustment and
the computation thereof, which officer's certificate shall be conclusive
evidence of the correctness of any such adjustment absent manifest error.

         3.       Mergers; Consolidations and Reclassifications.
                  ---------------------------------------------

                  (a) In case of any consolidation with or merger of the Company
with or into another corporation (other than a merger or consolidation in which
the Company is the surviving or continuing corporation), or in case of any sale,
lease, or conveyance to another corporation of the property and assets of any
nature of the Company as an entirety or substantially as an entirety, such
successor, leasing, or purchasing corporation, as the case may be, shall (i)
execute with the Holder an agreement providing that the Holder shall have the
right thereafter to receive upon exercise of this Warrant solely the kind and
amount of shares of stock and other securities, property, cash, or any
combination thereof receivable upon such consolidation, merger, sale, lease, or
conveyance by a holder of the number of shares of Common Stock for which this
Warrant might have been exercised immediately prior to such consolidation,
merger, sale, lease, or conveyance and (ii) make effective provision in its
certificate of incorporation or otherwise, if necessary, to effect such
agreement. Such agreement shall provide for adjustments which shall be as nearly
equivalent as practicable to the adjustments in Section 2.

                  (b) In case of any reclassification or change of the shares of
Common Stock issuable upon exercise of this Warrant (other than a change in par
value or from no par value to a specified par value, or as a result of a
subdivision or combination, but including any change in the shares into two or
more classes or series of shares), or in case of any consolidation or merger of
another corporation into the Company in which the Company is the continuing
corporation and in which there is a reclassification or change (including a
change to the right to receive cash or other property) of the shares of Common
Stock (other than a change in par value, or from no par value to a specified par
value, or as a result of a subdivision or combination, but including any change
in the shares into two or more classes or series of shares), the Holder shall
have the right thereafter to receive upon exercise of this Warrant solely the
kind and amount of shares of stock and other securities, property, cash, or any
combination thereof receivable upon such reclassification, change,
consolidation, or merger by a holder of the number of shares of Common Stock for
which this Warrant might have been exercised immediately prior to such
reclassification, change, consolidation, or merger. Thereafter, appropriate
provision shall be made for adjustments which shall be as nearly equivalent as
practicable to the adjustments in Section 2.

                  (c) The above provisions of this Section 3 shall similarly
apply to successive reclassifications and changes of shares of Common Stock and
to successive consolidations, mergers, sales, leases, or conveyances.

         4.       Certain Representations of the Company.
                  --------------------------------------

         Throughout the Exercise Period, the Company has and will continue to
have (i) all requisite power and authority to issue this Warrant and the Warrant
Shares, and (ii) sufficient authorized and unissued securities of Common Stock
to permit exercise of this Warrant.

                                       3
<PAGE>

         5.       Certain Covenants of the Company.
                  --------------------------------

                  (a) The Company shall take such steps as are necessary to
cause the Company to continue to have sufficient authorized and unissued shares
of Common Stock reserved in order to permit the exercise of the unexercised and
unexpired portion of this Warrant, if any.

                  (b) The Company covenants and agrees that all Warrant Shares
issued upon the due exercise of this Warrant will, upon issuance in accordance
with the terms hereof, be duly authorized, validly issued, fully paid and
non-assessable and free and clear of all taxes, liens, charges, and security
interests created by the Company with respect to the issuance thereof.

                  (c) The Company will pay all documentary stamp taxes, if any,
attributable to the initial issuance of Warrant Shares upon the exercise of this
Warrant; provided, that the Company shall not be required to pay any tax which
may be payable in respect of any transfer involved in the issue of this Warrant
or of any certificates for Warrant Shares in a name other than that of the
Holder upon the exercise of this Warrant, and the Company shall not be required
to issue or deliver such certificates unless or until the person or persons
requesting the issuance thereof shall have paid to the Company the amount of
such tax, or shall have established to the satisfaction of the Company that such
tax has been paid.

                  (d) This Warrant and, when so issued, the shares of Common
Stock which may be issued upon exercise of the Warrants, will have been issued
pursuant to an available exemption from registration under the Securities Act.

                  (e) The Company covenants and agrees that if it fails (i) to
register the Warrant Shares as provided in a Registration Rights Agreement
between the Holder and the Company, dated of even date herewith, or (ii) to
issue the shares of Common Stock upon the proper exercise of the Warrant, then
the Holder may immediately commence an action for specific performance.

         6. No Shareholder Rights. No Holder of this Warrant shall, as such, be
entitled to vote or be deemed the holder of Common Stock or any other kind of
securities of the Company, nor shall anything contained herein be construed to
confer upon the Holder the rights of a shareholder of the Company or the right
to vote for the election of directors or upon any matter submitted to
shareholders at any meeting thereof, or give or withhold consent to any
corporate action or to receive notice of meetings or other actions affecting
shareholders (except as otherwise expressly provided herein), or to receive
dividends or subscription rights or otherwise, until the date of Holder's proper
exercise of this Warrant as described herein.

         7. Notices. Any notice, demand, request, waiver or other communication
under this Agreement must be in writing and will be deemed to have been duly
given (i) on the date of delivery if delivered by hand to the address of the
party specified below (including delivery by courier), or (ii) on the fifth day
after deposit in the U.S. Mail if mailed to the party to whom notice is to be
given to the address specified below, by first class mail, certified or
registered, return receipt requested, First Class postage prepaid:

to the Company:

                                Commodore Applied Technologies, Inc.
                                150 East 58th Street
                                Suite 3238
                                New York, New York 10155
                                Attn:  Shelby T. Brewer, Chief Executive Officer

                                       4
<PAGE>

the Holder:                     William J. Russell
                                and/or Nancy E. Russell
                                16049 East Berry Drive
                                Aurora, CO 80015

Any party may from time to time change its address for the purpose of notices to
that party by a similar notice specifying a new address, but no such change will
be deemed to have been given until it is actually received by the party sought
to be charged with its contents.

         8.       General.
                  -------

                  (a) This Warrant shall be governed by and construed in
accordance with the laws of the State of Delaware without regard to its conflict
of laws provisions.

                  (b) Section and subsection headings used herein are included
herein for convenience of reference only and shall not affect the construction
of this Warrant or constitute a part of this Warrant for any other purpose.

                  (c) This Warrant may be executed simultaneously in any number
of counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument when instruments
originally executed by each party shall have been received by the Company.

                  (d) This Warrant shall be binding upon and inure to the
benefit of the parties hereto and their respective successors, heirs and
assigns.

         IN WITNESS WHEREOF, the Company has duly executed this Warrant on and
as of the date first set forth above.

                                  COMMODORE APPLIED TECHNOLOGIES,
                                  INC.

                                   By: /s/ Shelby T. Brewer
                                       -----------------------------------------
                                       Shelby T. Brewer, Chief Executive Officer

                                       5
<PAGE>

                                     NOTICE
                                       OF
                                WARRANT EXERCISE

TO:  Commodore Applied Technologies, Inc.:

         The undersigned hereby irrevocably elects to exercise the Warrant and
to purchase thereunder ______ full shares of Common Stock issuable upon the
exercise of such Warrant.

         Please check the applicable method by which the undersigned elects to
         exercise the Warrant:

         The Exercise Price for this warrant shall be paid by delivery of
         $___________ in cash as provided for in the Warrant ------.

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

                  Name: --------------------------------------------------------

                  Address: -----------------------------------------------------

                  Employer Identification Number. or S.S. No: ------------------

         If such number of Warrants shall not be all the Warrants evidenced by
the Warrant document, the undersigned requests that a new document evidencing
the Warrants not so exercised issued and registered in the name of and delivered
to:

                           ----------------------------------------------------
                           Name

                           ----------------------------------------------------
                           Address

                           ----------------------------------------------------
                           Employer Identification Number or Social Security No.

Date: ________________              ________________________________________
                                            Signature

                                       6
<PAGE>

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