Document:

Exhibit 10.3

                           SALE AND PURCHASE OF SHARES
                                       in
                           NATIONS NATURAL GAS PTY LTD

                                 SALE OF SHARES
                                 --------------

THIS AGREEMENT is made on the 12th day of April 2006

BETWEEN        ERNEST GEOFFREY ALBERS
               SACROSANCT PTY LTD (ACN 065 333 860)
               NATURAL GAS CORPORATION PTY LTD (ACN 004 650 597)
               BATAVIA OIL & GAS PTY LTD (ABN 36 084 043 907)
               NATIONAL OIL & GAS PTY LTD (ABN 009 240 420)
               AUSTRALIS FINANCE PTY LTD (ABN 22 004 857 498)
               all of Level 25, 500 Collins Street, Melbourne Victoria 3000
               (hereinafter collectively called "the Vendors") of the one
               part

AND            AUSTRALIAN OIL & GAS CORPORATION (incorporated in Delaware) of
               2480 North Tolemac Way, Prescott, Arizona 86305, USA
               (hereinafter called "the Purchaser") of the other part.

WHEREAS:
--------

1.   NATIONS NATURAL GAS PTY LTD of Level 25, 500 Collins Street, Melbourne
     Victoria 3000 (hereinafter called "the Company") is a Company incorporated
     pursuant to the Corporation Act 2001 in Victoria.

2.   The Company holds a 30% interest in the National Gas Consortium and is the
     holder of interest in each of petroleum exploration permits NT/P62, NT/P63,
     NT/P64 and NT/P65.

3.   The Vendors holds or are entitled beneficially to an aggregate 2,000,001
     Ordinary Shares fully paid in the Company which are hereinafter referred to
     as "the Shares"; as set out in Schedule 4 attached hereto.

4.   The Purchaser has offered to purchase the Shares in return for the payment
     of $50,000 and for the issue of 2,100,001 shares of Common Stock in the
     Purchaser (hereinafter called "the Consideration") and upon the terms and
     conditions hereinafter appearing to be allocated between the Vendors as set
     out in Schedule 4.

4.   The parties hereto submit to the laws of Victoria, Australia and any action
     taken hereunder shall be taken in the appropriate court of such
     jurisdiction.

5.   It is a pre-condition of this agreement that an agreement for the
     acquisition of the remaining shares in Alpha Oil & Natural Gas Pty Ltd is
     entered into by the Purchaser.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
-----------------------------------------

1.   Effective from the date hereof, the Vendors shall sell to the Purchaser and
     the Purchaser shall purchase from the Vendors the Shares.

2.   The Purchaser shall issue and deliver to the Vendors the Consideration on
     the Settlement Date, such consideration to be made against delivery by the
     Vendors to the Purchaser of executed registerable transfers of the Shares.
     Settlement Date shall be 14 days from the date hereof or the completion of
     audit of the Accounts as attached hereto, whichever is the later.

<PAGE>

3.   On the Settlement Date the Vendors will hand to the Purchaser

          (i)  the certificates in respect of the shares hereby agreed to be
               sold;
          (ii) properly executed transfers to the Purchaser of the shares;
          (iii) Balance Sheet of Nations made up to 31 March 2006.

4.   The parties hereto covenant each with the other or others of them that such
     party will sign execute and do all such further documents acts matters and
     things as shall be requisite or necessary for effectuating the provisions
     of this agreement.

5.   Upon the execution hereof by the parties hereto all (if any) other prior
     contracts or agreements between the parties hereto in relation to or in any
     way affecting the matters the subject hereof shall be and become absolutely
     null and void and of no force or effect whatsoever.

6.   The sale and purchase has taken place on the faith and basis of the
     financial statements (Accounts) made up to 31 March 2006 attached hereto
     and each of the Vendors HEREBY COVENANTS with the Purchaser that the said
     Accounts are drawn up in accordance with the provisions of the Corporations
     Act 2001, other than comparative figures and that (without limiting the
     generality of the foregoing) proper and adequate provision has been made in
     the said Accounts for all liabilities whether present or contingent and
     other commitments and obligations of the Company so as to give a true and
     correct view of the state of affairs of the Company and that no material
     change detrimental to the interest of the Purchaser has taken place or will
     take place prior to the settlement date in the position of the Company as
     disclosed by the said Accounts.

7.   Each of the Vendors hereby covenants that it will indemnify and keep
     indemnified the Purchaser against all or any losses, damages, claims,
     demands arising out of a breach or breaches of the warranties contained in
     Schedule 1 hereof and against all debts, liabilities and penalties incurred
     by the Company up to and including the settlement date but not disclosed in
     the said Accounts and each of the Vendors further agrees to be responsible
     for the full amount of every such debt liability and/or penalty as and when
     it shall become ascertained and proved payable including any costs lawfully
     due in connection therewith.

8.   The Purchaser provides the Vendors with the warranties contained in
     Schedule 2 hereof.

9.   Time shall in all respects be of the essence of this agreement.

10.  In this agreement unless inconsistent with or repugnant to the context:

     (a)  The singular number shall include the plural number and vice versa;
     (b)  Reference to any particular gender shall include all other genders;
          and
     (c)  The word "person" includes "company" and vice versa.

<PAGE>

                                   SCHEDULE 1

                            WARRANTIES BY THE VENDORS

A)   Vendor's Warranties in Respect to the Company to the Purchaser

     Each Vendor hereby represents, warrants to and covenants with the
     Purchaser, with the intent that after the Settlement Date and completion of
     the sale and purchase of the Shares the provisions of this Clause shall
     remain in full force as warranties and be binding on the successors and
     assigns and personal representatives (as the case may be) of the Vendor,
     that:

     1)   that to the best of the Vendor's knowledge, information and belief
          that the assets of the Company are in good standing and in full force
          and effect and that the Company is not in default in the performance
          of any of its material obligations under them other than as agreed or
          approved by the Purchaser;

     2)   except as disclosed in this agreements or in the Disclosure Letter
          annexed hereto as Schedule 3, the assets of the Company are free from
          all overriding royalty interests, carried interests, net profit
          interests, mortgages, charges, pledges, bills of sale, liens and any
          other third party interests or encumbrances by whatever name called;

     3)   there are no material suits, actions, claims or demands pending or
          threatening against the Company, or the assets of the Company and
          there are no circumstances which exists which may give rise to a claim
          against the Company or the assets of the Company;

     4)   all activities conducted by the Company pursuant to the Agreements
          have been conducted in accordance with applicable laws, statutes,
          regulations, by-laws, ordinance and orders in council (including,
          without limitation, all environmental regulations) and that there is
          no outstanding breach thereof; and

     5)   the financial and tax position of the Company is as disclosed to the
          Purchaser in the Accounts;

     6)   the Accounts are drawn up in accordance with accepted Australian
          Accounting Standards other than comparative figures and that (without
          limiting the generality of the foregoing) proper and adequate
          provisions has been made in the said Accounts for all liabilities
          whether present or contingent and other commitments and obligations of
          the Company so as to give a true and correct view of the state of
          affairs of the Company and that no material change detrimental to the
          interest of the Purchaser has taken place or will take place prior to
          the Settlement Date in the position of the Company as disclosed by the
          said Accounts other than as agreed or approved by the Purchaser;

     7)   there are no material contracts, agreements, arrangements,
          acknowledgments, liabilities or obligations of any description
          (whether actual or contingent) entered into or incurred by the Company
          which have not been disclosed to the Purchaser in writing prior to the
          date hereof and no such contracts, agreements, arrangements,
          acknowledgments, liabilities or obligations will be entered into or
          incurred prior to the Settlement Date, save and except that as
          disclosed to the Purchaser in the Disclosure Letter annexed hereto as
          Schedule 3.

     8)   No dividends will be declared or paid by the Company prior to the
          Settlement Date;

     9)   the statutory books and books of account records of the Company were
          at the 30 day of June 2005 and still are and will until the Settlement
          Date continue to be written up to date in a proper manner;

     10)  there will not at the Settlement Date be any debentures or any
          borrowings outstanding to any person firm or company;

<PAGE>
     11)  the Company has cancelled all options previously granted and will not
          issue or grant any option nor will it issue any further capital or
          otherwise alter the structure of the share capital;

     12)  other than as disclosed there are no subsisting agreements or
          contracts exist between the Company and any present or past members of
          the staff or directors of the Company for employment by the Company or
          for services to be provided for the Company;

     13)  all statutory returns particulars resolutions and other documents
          require to be filed or delivered on behalf of the Company have been
          correctly and properly made up and filed or delivered within the
          appropriate periods prescribed;

     14)  the Company is not engaged in any litigation or arbitration
          proceedings as plaintiff or defendant and that there are no such
          proceedings pending or threatened either by or against the Company and
          that there are no facts known to Vendor which are likely to give rise
          to any litigation or arbitration not is there any dispute with any
          taxation authority in relation to the affairs of the Company;

     15)  all payroll tax, receipt duty , sales tax, land tax, local authority,
          and water rates due and payable or which may become due and payable up
          to and including the Settlement Date have been paid or provided by the
          Company and that Vendor will indemnify the Purchaser for and pay and
          discharge any amount which the Company may be called upon to pay in
          respect of any assessment, re-assessment, amended assessment, default
          assessment, penalty, fine or other imposition now or hereafter raised
          against inflicted or levied on the Company in respect of such
          contributions rates or taxes;

     16)  all income tax and other returns required by all applicable laws have
          been duly lodged by the Company and the Company has made to the
          relevant taxation authorities a full and true disclosure of all the
          material things required for the assessment of the Company;

     17)  no petitions for winding up the Company have been presented and no
          orders have been made or effective resolutions passed for the winding
          up of the Company nor proceedings instituted or a meeting called with
          a view to obtaining any such orders or to pass any such resolutions;

     18)  no receiver of the undertakings or assets of the Company or any part
          thereof has been appointed nor have any judgements been obtained
          against the Company or any execution or process of any Court or other
          authority sued out against or levied or enforced upon the Company or
          its assets or any part thereof;

     19)  no person has any option to acquire any of the unissued shares of the
          Company;

     20)  no person has any charge or other security over any of the unissued
          shares in the Company;

     21)  the Shares will at the Settlement Date be entirely free and
          unencumbered and will not be subject to any liens charges or other
          encumbrances whatsoever or subject to any claim or right of any person
          firm or Company whatsoever other than the registered holder;

     22)  there are no dividends or distributions declared in favour of any
          shareholder and unpaid and that there are no emoluments or other
          advantages granted in favour of any member or director of the Company
          unpaid;

     23)  there are no wages holiday pay or long service leave entitlements due
          and unpaid up to and including the Settlement Date and that no claim
          with respect thereto will be made against the Company thereafter.

<PAGE>

                                   SCHEDULE 2

                             Purchaser's Warranties

1.   Litigation and Outstanding Undertakings, Preservation of Rights

To the best of the Purchaser's knowledge, information and belief:

(1)  the Purchaser in respect of its business and operations:

     (a)  has no unsatisfied fines, judgments or awards outstanding against it
          and is not party to any undertaking or assurance given to any court,
          arbitrator or government agency or tribunal which is still in force;
          and

     (b)  is not engaged in or threatened with prosecution, litigation or
          arbitration;

(2)  there are no facts or circumstances which are likely to lead to
     prosecution, litigation or arbitration involving the assets or business of
     the Purchaser;

(3)  the Purchaser in respect of its business and operations, is not involved in
     any proceeding before or investigation by any governmental or statutory
     appointee, agency, tribunal, committee or board of enquiry and no such
     proceeding or investigation is pending or threatened;

(4)  the Purchaser has full power and has obtained all necessary consents of all
     persons and authorities to own, operate and lease it assets and to conduct
     its business and operations;

(5)  the Purchaser has the legal right and power without obtaining the consent
     of any person or authority (other than as specifically referred to in this
     Agreement) to enter into this Agreement;

(6)  the beneficial ownership of the Shares will, on Settlement Date, vest in
     the Purchaser free from all Encumbrances;

(7)  the Purchaser is not an externally-administered body corporate under the
     Corporations Law and steps have not been taken by any person towards making
     the Purchaser an externally-administered body corporate;

(8)  a controller (as defined in the Corporation Act) has not been appointed of
     any of the property of the Purchaser or any steps taken for the appointment
     of such a person; and

(9)  the Purchaser has not been served with a demand under the Corporations Act
     which it is taken.

2.   Financial Matters

To the best of the Purchaser's knowledge, information and belief:

(1)  the business records of the Purchaser have been properly and accurately
     prepared in accordance with usual accounting concepts and practices;

(2)  the most recent balance sheet and profit and loss account of the Purchaser
     made up to 30 June 2005 (Balance Date) in all material respects:

     (a)  present a true and fair view of the profit or loss of the business and
          operations of the Purchaser for the accounting period expiring on the
          Balance Date and the state of affairs of the business and operations
          of the Purchaser at the Balance Date;

<PAGE>
     (b)  accurately disclose the assets and liabilities of the Purchaser in
          respect of the business and operations of the Purchaser at the Balance
          Date; and

     (c)  are not affected by any unusual or non-recurring item;

(3)  no material change detrimental to the interests of the Vendor has taken
     place in the financial position or business affairs of the Purchaser or the
     business or operations of the Purchaser;

(4)  the Purchaser has not, since the Balance Date, acquired any assets in
     respect of the business or operations of the Purchaser other than in the
     ordinary course of business; and

(5)  the Purchaser does not in respect of its business and operations have any
     debts or liabilities other than those debts and liabilities disclosed at
     the Balance Date.

3.   Statutory Returns

To the best of the Purchaser's knowledge, information and belief:

(1)  the Purchaser has completed and lodged all returns and statements required
     to be lodged by law with any agency, department, authority or commission
     and the returns and statements so lodged were true and correct in every
     respect; and

(2)  the books, records and registers of the Purchaser in respect of its
     business and operations have been kept in accordance with all statutory
     requirements.

4.   Employment

To the best of the Purchaser's knowledge, information and belief:

(1)  there are no existing, pending or threatened industrial disputes, whether
     between any trade union and the Purchaser or not, relevant to the conduct
     of its business and operations and the Purchaser is not aware of any claims
     or other facts or circumstances which may result in an industrial dispute
     and the Purchaser has no undisclosed agreements with any trade union; and

(2)  there are no claims for compensation or reinstatement as a consequence of
     termination of employment.

5.   Contracts

To the best of the Purchaser's knowledge, information and belief:

(1)  the Purchaser has not received notice of termination, rescission, avoidance
     or repudiation of any contract material to the business and operations of
     the Purchaser;

(2)  the Purchaser has the power and is entitled to accept Transfer of the
     Shares to be transferred to the Purchaser under this Agreement; and

(3)  there is no offer, tender or quotation given or made by the Purchaser in
     respect of its business and operations, other than in the ordinary course
     of business, and still outstanding capable of giving rise to a contract by
     unilateral act of a third party.

6.   General

To the best of the Purchaser's knowledge information and believe that:

<PAGE>

(1)  it has full power and authority to enter into this Agreement, and all
     necessary corporate action required for it to enter into this Agreement and
     to be bound by its terms and conditions has been effectively taken;

(2)  entry into this Agreement will constitute a legal, valid and binding
     agreement enforceable against Purchaser in accordance with its terms;

(3)  subject to the terms of the Agreement, the entry into this Agreement and
     performance of its terms and conditions by Purchaser does not contravene
     any law applicable to it nor any judgement or contract binding on it;

(4)  it is legally entitled to issue the Consideration.

<PAGE>

                                   SCHEDULE 3

                            VENDORS DISCLOSURE LETTER

Abbreviations used in this letter shall have the same meaning as given in the
Agreement to which this letter is attached.

              TO THE DIRECTORS OF AUSTRALIAN OIL & GAS CORPORATION
              ----------------------------------------------------

Each of the Vendors are selling all of their holding of shares in Nations
Natural Gas Pty Ltd ("Nations") on the basis of the financials annexed hereto.
The acquisition of Nations is to be completed on the basis that all other net
assets of Nations, other than Permits and information and knowledge associated
with them being distributed as the directors of Nations shall have decided prior
to this Agreement in satisfaction of certain obligations of Nations. Any non
permit-associated liabilities are to be discharged prior to settlement

It is understood that the acquisition of the remaining shares in Nations is
being made by AOGC in order to cost effectively acquire a 20% interest in the
permits of the National Gas Consortium, being permits NT/P62, NT/P63, NT/P64 and
NT/P65. All past and accumulated outstanding liabilities of Nations associated
with tenement acquisition, exploration and maintenance of the permits shall be
assumed by AOGC, such that it has been specifically agreed that the transferors
of shares in Nations or Nations itself shall not be obliged to discharge these
liabilities.

The Vendors, being the selling shareholders of Nations (other than Alpha Oil &
Natural Gas Pty Ltd and Hawkestone Oil Pty Ltd) shall, upon satisfaction of all
conditions, be entitled to receive a consideration to be satisfied by the issue
of 2,100,001 shares in AOGC and the payment of $50,000.

Liabilities of Nations other than those associated with the permits (see above),
such as trade creditors, and amounts owing to directors and officers, shall have
been dealt with by Nations prior to this Agreement to the satisfaction of each
of AOGC, Nations and such creditors/optionholders. Completion of this
transaction shall signify AOGC's complete satisfaction with all arrangements
made and of the amounts remaining outstanding to creditors by Nations.

Securities (if any) held by Nations as trustee shall either be transferred to
the beneficiaries or shall, at the election of the beneficiaries, continue to be
held by Nations as trustee for the beneficiaries or shall be transferred to new
trustees, as may be directed by the beneficiaries.

Nations and the other members of the National Gas Consortium have applied for a
two-year suspension and extension for each of NT/P62, NT/P63, NT/P64 and NT/P65
and have been granted an extension for one-year (NT/P62, 63 and 64) or part of a
year (NT/P65).

<PAGE>

                                   SCHEDULE 4

                     VENDORS AND ALLOCATION OF CONSIDERATION

                    VENDOR        NO. OF SHARES IN     NO. OF SHARES
                                           NATIONS           IN AOGC         $
-------------------------------   ----------------     -------------   -------
Ernest Geoffrey Albers                     300,001           315,001     7,500

Sacrosanct Pty Ltd                         300,000           315,000     7,500

Natural Gas Corporation Pty Ltd            100,000           100,000     2,500

Batavia Oil & Gas Pty Ltd                  100,000           100,000     2,500

National Oil & Gas Pty Ltd               1,100,000         1,150,000    27,500

Australis Finance Pty Ltd                  100,000           120,000     2,500
                                       -----------        ----------   -------
                                         2,000,001         2,100,001    50,000

<PAGE>

SIGNED for and on behalf of AUSTRALIS FINANCE PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of NATURAL GAS CORPORATION PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of BATAVIA OIL & GAS PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of NATIONAL OIL & GAS PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of SACROSANCT PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of AUSTRALIAN OIL & GAS CORPORATION

by /s/ MARK A MUZZIN a Director and authorised officer in the presence of:

/s/ FILIPPINA PERUGINI    Witness

<PAGE>Exhibit 10.4

                               AMENDING AGREEMENT
                                     to the
                           SALE AND PURCHASE OF SHARES
                                       in
                           NATIONS NATURAL GAS PTY LTD

                               AMENDING AGREEMENT
                                 SALE OF SHARES

THIS AMENDING AGREEMENT is made on the 29th day of June 2006

BETWEEN      ERNEST GEOFFREY ALBERS
             SACROSANCT PTY LTD (ACN 065 333 860)
             NATURAL GAS CORPORATION PTY LTD (ACN 004 650 597)
             BATAVIA OIL & GAS PTY LTD (ABN 36 084 043 907)
             NATIONAL OIL & GAS PTY LTD (ABN 009 240 420)
             AUSTRALIS FINANCE PTY LTD (ABN 22 004 857 498)
             all of Level 25, 500 Collins Street, Melbourne Victoria 3000
             (hereinafter collectively called "the Vendors") of the one
             part

AND          AUSTRALIAN OIL & GAS CORPORATION (incorporated in Delaware) of
             2480 North Tolemac Way, Prescott, Arizona 86305, USA
             (hereinafter called "the Purchaser") of the other part.

WHEREAS:
--------

1.   NATIONS NATURAL GAS PTY LTD of Level 25, 500 Collins Street, Melbourne
     Victoria 3000 (hereinafter called "the Company") is a Company incorporated
     pursuant to the Corporation Act 2001 in Victoria.

2.   The Company holds a 30% interest in the National Gas Consortium and is the
     holder of interest in each of petroleum exploration permits NT/P62, NT/P63,
     NT/P64 and NT/P65.

3.   This Agreement amends the agreement made between the parties dated 12th
     April 2006.

4.   The Vendors have agreed to sell and AOGC to purchase an aggregate 2,000,001
     Ordinary Shares fully paid in the Company in return for the payment of
     $50,000 and for the issue of 2,100,001 shares of Common Stock in the
     Purchaser upon the terms and conditions appearing in the Sales and Purchase
     Agreement.

5.   It is a pre-condition of this agreement that an agreement for the
     acquisition of the remaining shares in Alpha Oil & Natural Gas Pty Ltd is
     entered into by the Purchaser.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
-----------------------------------------

1.   The date referred to in clause 3(iii) and in clause 6 of the Sales and
     Purchase Agreement shall be deleted and in each place replaced by the date
     "31 December 2005".

2.   A new clause 3A shall be inserted in the Sales and Purchase Agreement as
     follows:

"3A. Compliance with U.S. securities laws

(a)  Representations and Warranties of the Vendors. Each Vendor hereby
     represents and warrants to the Company that:

<PAGE>

     (i)  understands that the Shares to be issued in accordance with section 2
          have not been, and, as of the date of issuance, will not be,
          registered under the U.S. Securities Act of 1933, as amended (the
          "Securities Act"), or under any U.S. state securities laws, and are
          being issued pursuant to a "safe harbor" exemption from registration
          contained in Regulation S promulgated under the Securities Act based,
          in part, upon the representations and warranties of each Vendor
          contained herein;

     (ii) has received certain information concerning the Purchaser and has had
          the opportunity to obtain additional information as desired in order
          to evaluate the merits and the risks inherent in holding shares of the
          Purchaser's common stock, and recognizes that an investment in the
          Purchaser involves significant risk;

     (iv) is able to bear the economic risk and lack of liquidity inherent in
          holding the Shares, can afford to bear the loss of Vendor's entire
          investment in the Purchaser, has adequate means of providing for
          current needs and personal contingencies;

     (v)  has such knowledge and experience in financial and business matters
          that the Vendor is capable of evaluating the merits and risks of an
          investment in the Purchaser; and is an "Accredited Investor" as
          defined in Regulation D promulgated under the Securities Act;

     (vi) (A) is not a "U.S. Person" (as that term is defined in Rule 902 of
          Regulation S under the Securities Act); (B) is not acquiring the
          Shares for the account or benefit of any U.S. Person and has not
          pre-arranged any resale of any of the Shares with any buyer located in
          the United States or otherwise with a U.S. Person; and (C) was not
          offered the Shares in the United States, and at the time of execution
          of this Agreement and of any offer to purchase the Shares received
          from the Purchaser hereunder, was located outside the United States;

     (vii) is not engaged in the business of distributing securities;

     (viii) will not engage in hedging transactions with regard to the Shares
          unless in compliance with the Securities Act; and

     (ix) has not engaged and will not engage, nor have any of its affiliates or
          any person acting on behalf of it or any of them engaged in or will
          engage in, any "directed selling efforts" with respect to the Shares
          within the meaning of Rule 902(c) of Regulation S adopted under the
          Securities Act.

     (x)  has relied solely upon the advice of the Vendor's own personal
          financial and tax advisers, counsel and accountants as to the legal,
          tax, economic, and related matters concerning this investment and its
          suitability for the Vendor before investing in the Shares of the
          Purchaser.

(b)  Representation and Warranty by AOGC. AOGC represents and warrants that
     neither it, nor any of its affiliates or any person acting on behalf of any
     of them, has engaged or will engage in any "directed selling efforts" with
     respect to the Shares within the meaning of Rule 902(c) of Regulation S
     adopted under the Securities Act, and it, its affiliates and any person
     acting on behalf of any of them have complied and will comply with the
     offering restrictions requirement of Regulation S under the Securities Act.

(c)  Legending and Stop Transfer Requirements.

<PAGE>
     (i)  The stock certificate delivered by the Purchaser to the Vendor in
          accordance with Section 2 representing the Shares will be imprinted
          with a legend substantially in the following form:

          "The shares represented by this certificate have not been registered
          under the Securities Act of 1933, as amended (the "Securities Act")
          and have been issued pursuant to an exemption from registration under
          Regulation S promulgated under the Securities Act. Such shares are
          "restricted securities" as defined in Rule 144 promulgated under the
          Securities Act and may not be offered for sale, sold, delivered after
          sale, transferred, pledged, or hypothecated except: (i) in accordance
          with the provisions of Regulation S under the Securities Act; (ii)
          pursuant to registration under the Securities Act; or (iii) pursuant
          to an opinion of counsel reasonable satisfactory to Australian Oil &
          Gas Corporation that such shares may be transferred without
          registration under the Securities Act. Hedging transactions involving
          the shares represented by this certificate may not be conducted unless
          in compliance with the Securities Act."

     (ii) AOGC shall refuse to register any transfer of the Shares that is not
          made in accordance with: (A) the provisions of this Agreement; and (B)
          the provisions of Regulation S, pursuant to registration under the
          Securities Act, or pursuant to an available exemption from
          registration under the Securities Act.

(d)  Resales of the Shares. Each Vendor shall make, or cause to be made, any
     resales of the Shares pursuant to one of the following methods:

     (i)  "offshore transactions" (as such term is defined in Regulation S)
          pursuant to the resale safe harbor of Rule 904 of Regulation S adopted
          under the Securities Act;

     (ii) Rule 144 promulgated under the Securities Act; or

     (iii) any other available exemption under the Securities Act; provided that
          the Vendor shall first furnish the Purchaser with a written opinion
          reasonably satisfactory to the Purchaser in form and substance from
          counsel reasonably satisfactory to the Purchaser by reason of
          experience to the effect that the Vendor may transfer such shares as
          desired without registration under the Securities Act (each such
          resale described in (i)-(iv), a "Permitted Resale" and collectively,
          the "Permitted Resales"). Any such Permitted Resales shall be made in
          offshore transactions or in transactions in the United States on the
          Over-the-Counter Bulletin Board (OTC-BB) or otherwise."

<PAGE>

SIGNED for and on behalf of AUSTRALIS FINANCE PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of NATURAL GAS CORPORATION PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of BATAVIA OIL & GAS PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of NATIONAL OIL & GAS PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of SACROSANCT PTY LTD

by /s/ ERNEST GEOFFREY ALBERS its Managing Director and authorised officer in
the presence of:

/s/ FILIPPINA PERUGINI    Witness

SIGNED for and on behalf of AUSTRALIAN OIL & GAS CORPORATION

by /s/ MARK A MUZZIN a Director and authorised officer in the presence of:

/s/ FILIPPINA PERUGINI    Witness

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"}]]