Document:

EX-10.8

 Exhibit 10.8 

RENEGOTIATION AGREEMENT 
 In the City of
Cipolletti, on December 9, 2014 a meeting was held by the Province of Río Negro, represented by the Secretary of Energy, Eng. Néstor Marcelo Echegoyen, with domicile established at España 316, 1st floor, in the City of
Cipolletti, in its capacity as Enforcement Authority of Law No. 4818, hereinafter the PROVINCE, party of the first part; and by the company Petrobras Argentina S.A., hereinafter CONCESSIONAIRE represented by its
attorney-in-fact, Mr. Marcelo Gerardo Gómez, with domicile established at Mengelle 59, 5th Floor, Office
1, in the city of Cipolletti, party of the second part, and both of them jointly referred to as the PARTIES. The Parties agree to enter into the Agreement set forth hereinbelow: 

WHEREAS: On March 7, 2013, the Executive Branch of Government of the Province, by virtue of Executive Order No. 230/13 created the Provincial
Register for Renegotiation of Hydrocarbons Areas’ Exploitation Concessions (Registro Provincial de Renegotiation de Concesiones de Explotación de Areas Hidrocarburíferas) and launched a Call for Bids for Hydrocarbons
Areas’ Exploitation Concessionaire Companies of the Province of Río Negro granted by the National Government, interested in renegotiating their concessions, within the framework of effective national and provincial laws, and in
compliance with the terms set forth under Provincial Law No. 4818 whereby the Bidding Terms and Conditions applicable to such call for bids were approved. The foregoing procedure was conducted within the framework of National Laws
No. 17,319, 23,696, 24,145 and 26,197, Provincial Law Q 4,296, Executive Orders issued by the National Executive Branch of Government No. 1055/89, 1212/89, and other effective national and provincial laws applicable. Furthermore, the
ENFORCEMENT AUTHORITY was authorized to perform the call for bids’ process and renegotiation of concessions. 
 In this case, within the framework of
the effective hydrocarbons’ laws, in addition to the administration of Areas and concessions, the PROVINCE renegotiates the conditions for exploitation of the above-referred concessions, for the purpose of increasing hydrocarbons’ reserves
and production; and to improve exploration investment conditions, due to the proper characteristics of works requiring technical and financial capacity according to the obligations derived from the activity. The foregoing procedure is conducted
within the framework of Laws No. 17,319, 24,145, 23,696 and Provincial Law Q 4,296 and regulations derived therefrom; and, in particular, National Law 26,197 which Section 6 provides that the Provinces, as Enforcement Authorities, are
empowered to provide for the extension of legal and/or contractual terms, among other powers. 
 On May 2, 2013, CONCESSIONAIRE filed a note with the
PROVINCE whereby it applied for registration with the Provincial Register for Renegotiation of Hydrocarbons Areas’ Exploitation Concessions and attached the documents required under the Bidding Terms and Conditions. 

Subsequently, the Enforcement Authority gave notice to CONCESSIONAIRE about beginning of the negotiation term by means of Note No. 132/ 13 dated
October 15, 2013. 
 As a result, the PARTIES reached an agreement and such agreement was established under the relevant Minutes of the Meeting held on
December 5, 2014. Such Minutes served as basis for this AGREEMENT. 

 Thus, it is the intention of the PARTIES to enter into this AGREEMENT, which shall be governed by the terms
and conditions set forth hereinbelow: 
 NOW THEREFORE, the Parties hereby AGREE as follows: 

Section 1: PURPOSE- The purpose hereof is to renegotiate the “Jagüel de los Machos,” “25 de Mayo—Medanito” and
“Río Neuquén” Areas’ Exploitation Concessions located in the territory administered by the PROVINCE, established under Law No. 4818 and, consequently, extend the original terms granted under Executive Orders issued
by the National Executive Branch of Government No. 1769/90, No. 2164/91 and No. 1291/94, pursuant to the terms and conditions set forth under this Agreement. 

The extension of the term applicable to these Areas’ Exploitation Concessions identified hereinabove shall be for a ten (10) years’ period,
counted as from expiration of the original concession term. Thus, expiration thereof shall take place on the following dates: 
 1) “Jagüel de los
Machos” on 09/06/2025 
 2) “25 de Mayo—Medanito” on 10/28/2026 

3) “Río Neuquén” on 11/05/2027 

Section 2: REPRESENTATIONS AND WARRANTIES 
 2.1.
CONCESSIONAIRE hereby represents and warrants irrevocably to the PROVINCE that: 
 2.1.1. It shall comply, in due and timely manner, with the exploitation
investment commitment proposed under paragraph 12.6. of the Bidding Terms and Conditions, which value is established in paragraph 3.8. and detailed in Exhibit A to this Agreement, in order to increase hydrocarbons’ reserves and production
thereof. 
 2.1.2. It shall perform exploration activities at the remaining exploration Areas as may be available, pertaining to the Areas which title is
held thereby and mentioned in Section 1 hereof and the comprehensive assessment of all reservoirs located thereat, for the purpose of permitting the increase of reserves so as to maintain a proper production level and horizon thereof based upon
the technical and financial feasibility of reservoirs. 
 2.1.3. It shall perform the works in accordance with the most reasonable, modern and efficient
techniques in a manner consistent with the characteristics and size of the reserves proven, ensuring at the same time the highest production of hydrocarbons compatible with economic exploitation and technically suitable for the field. 

2.1.4. It shall perform, in due and timely manner, the environmental remediation and/or sanitation works and it shall carry out such activities in accordance
with the most reasonable, modern and efficient techniques as may be approved by the Secretariat of Environment of the Province and/or any authority as may replace or substitute it in the future. 

2.2. The PROVINCE hereby represents and warrants irrevocably to CONCESSIONAIRE that: 

2.2.1. The PROVINCE is fully empowered to enter into this Agreement and perform obligations thereof hereunder. 

 2.2.2. The execution, delivery and performance of this Agreement do not violate any provisions whatsoever
under the applicable regulations, or any resolution, decision or ruling issued by any national or provincial governmental and/or court authority. In particular, the PROVINCE hereby represents and warrants that the extension of concessions is
governed by National Laws No. 17,319 and No. 26,197. 
 2.2.3. There are no actions, lawsuits, claims, complaints, audits, arbitration,
investigation or proceedings (either civil, criminal, administrative, investigation or otherwise) preventing the PROVINCE from executing this Agreement. 

2.2.4. CONCESSIONAIRE shall exercise peaceful use and enjoyment of the exploitation and transportation concessions held thereby for the entire term of the
Exploitation Concession and extensions thereof, and the PROVINCE shall indemnify and hold CONCESSIONAIRE harmless from and against any claims or actions or decisions or legislative changes which may adversely affect or change the title regime
applicable to the surface areas of the Exploitation Concessions within the jurisdiction of the PROVINCE. 
 Section 3: RENEGOTIATION CONDITIONS

 3.1. Fixed Fee: CONCESSIONAIRE shall pay to the PROVINCE as Fixed Fee for the three (3) renegotiated areas, the aggregate amounts indicated
hereinbelow: 
 For renegotiation of the CONCESSIONS: United States Dollars Forty Million (USD 40,000,000). 

Payment of this aggregate amount shall be effected in one (1) payment made at the offer exchange rate published by Banco de la
Nación Argentina as of the close of business on the third day prior to payment, within a five (5) business days’ term following legislative confirmation of the AGREEMENT. 

Payment to the PROVINCE shall be made by wire transfer to the account to be informed thereby in writing to CONCESSIONAIRE at least two (2) business days
prior to the payment date. 
 3.2. Contribution to Social Development and Institutions Strengthening: CONCESSIONAIRE hereby undertakes to make a cash
contribution to the PROVINCE amounting to United States Dollars Six Million Nine Hundred and Five Thousand (USD 6,905,000) (equivalent to twenty percent (20%) of the Fixed Fee) to be allocated to funding construction of building infrastructure
and/or acquisition of operating equipment to be located at education and/or health institutions and/or governmental agencies. Such Contribution to Social Development and Institutions Strengthening shall be paid in full (i.e. 100%) to the PROVINCE at
the offer exchange rate published by Banco de la Nación Argentina as of the close of business on the third day prior to payment, within a five (5) business days’ term following legislative
confirmation of the Agreement. Payment shall be made by wire transfer to the account to be informed by the Province in writing to CONCESSIONAIRE at least two (2) business days prior to the payment date. 

Furthermore, the PROVINCE undertakes to inform CONCESSIONAIRE on a regular basis about the application of funds invested in the above-mentioned items. 

 3.3. Supplementary Contribution: CONCESSIONAIRE undertakes to make the contributions as described
hereinbelow, ninety percent (90%) of which shall be allocated to the PROVINCE and ten percent (10%) of which shall be allocated to EDHiPSA: 
 3.3.1. Oil
Supplementary Contribution: It consists in three percent (3%) of monthly Oil Production. This commitment encompasses Oil Production as from the relevant month immediately succeeding the effective date of the Agreement. Settlement in cash of the
relevant equivalent amount, valued as of the monthly Oil Production closing date on the basis of prices actually obtained by CONCESSIONAIRE in the respective monthly volumes produced sale transactions, shall be effected by means of a deposit in
Account No. 900001006, Bank Routing Number (CBU): 0340100800900001006004 in the name of “Gobierno de la Provincia de Río Negro” (Government of the Province of
Río Negro) (Taxpayer Identification Number – CUIT—30-67284630-3) and in Account No. 730012233, Bank Routing Number (CBU):
0340251300730012233005, Branch 251, in the name of EDHiPSA (Taxpayer Identification Number – CUIT—30672878825), both accounts opened in Banco Patagonia, or in any other accounts as THE PROVINCE and/or the ENFORCEMENT AUTHORITY
and/or EDHiPSA may indicate by any sufficient means in due course; 
 3.3.2. Gas Supplementary Contribution: It consists in three percent (3%) of
monthly Gas Production. This commitment encompasses Gas Production as from the relevant month immediately succeeding the effective date of the Agreement. Settlement in cash of the relevant equivalent amount, valued as of the monthly Gas Production
closing date, on the basis of prices actually obtained by CONCESSIONAIRE in the respective monthly volumes produced sale transactions, shall be effected by means of a deposit in Account No. 900001006, Bank Routing Number (CBU):
0340100800900001006004 in the name of “Gobierno de la Provincia de Río Negro” (Government of the Province of Río Negro) (Taxpayer Identification Number – CUIT—30-67284630-3) and in Account No. 730012233, Bank Routing Number (CBU): 0340251300730012233005, Branch 251, in the name of EDHiPSA (Taxpayer Identification Number –
CUIT—30672878825), both accounts opened in Banco Patagonia, or in any other accounts as THE PROVINCE and/or the ENFORCEMENT AUTHORITY and/or EDHiPSA may indicate by any sufficient means in due course. 

3.3.3. For the purpose of payment of the items described in paragraphs 3.3.1. and 3.3.2. above, such payments due dates shall be, for Exhibit I and for Exhibit
II, on the same deadlines as established for payment of royalties under the Secretariat of Energy resolutions. The exchange rate to be applied shall be the offer exchange rate published by Banco de la Nación Argentina prevailing as of
the close of business on the third business day prior to the due date, for Exhibit I settlement, and on the business day immediately preceding the due date for Exhibit II. 

Final volumes and prices shall be included in Exhibit II hereto. 

3.4. Training, Research and Development Commitment: CONCESSIONAIRE shall pay, each year to the PROVINCE, on account of each one of the three
(3) Exploitation Concessions which terms are extended hereunder, an annual contribution to be allocated to the items mentioned as per the amounts indicated below: 

 3.4.1. United States Dollars Twenty-five Thousand (USD 25,000) in those cases where each Area production
volume shall be up to 500 BOE/day. 
 3.4.2. United States Dollars Fifty Thousand (USD 50,000) in those cases where each Area production volume shall be
higher than 500 BOE/day. 
 3.4.3. For the first annual charge, CONCESSIONAIRE shall effect payment of such amount within five (5) business days
following legislative confirmation of the Agreement, by wire transfer to an account to be informed by the Province in writing to CONCESSIONAIRE at least two (2) business days in advance of the payment date. The following annual charges shall be
paid prior to February 28 each year. Such payments shall be made as per the offer exchange rate published by Banco de la Nación Argentina, as of the close of business on the third day prior to payment. 

3.5. Default: Upon failure to effect timely payment of the Fixed Fee, the Contribution to Social Development and Institutions Strengthening, the (Oil
and Gas) Supplementary Contribution, or the Training, Research and Development Commitment, default by CONCESSIONAIRE shall occur automatically and late payment interest shall accrue, to the benefit of the PROVINCE and/or EDHiPSA, without the need of
any demand notice whatsoever, from the due date to the date of actual payment thereof, equivalent to interest applicable to general discounting transactions at Banco de la Nación Argentina. For the purposes of calculation of interest,
any amounts denominated in foreign currency shall be converted into Pesos at the offer exchange rate published by Banco de la Nación Argentina, as of the close of business on the third day prior to the due date. 

3.6. Development and Investment Plan: CONCESSIONAIRE undertakes to perform a Development and Investment Plan which shall include, in accordance with
the terms mentioned in paragraph 2.1 hereof, investments and expenses for a minimum amount of United States Dollars Nine Hundred and Seven Million, Seven Hundred Thousand (USD 907,700,000) applicable to the Exploitation Concessions, as per the scope
detailed in Exhibits A and B to the Agreement. 
 Exhibit A contains a detail of the fields’ exploitation investments and expenses, projected until the
end of the Agreement term, with an aggregate expenditure commitment of United States Dollars Seven Hundred Nineteen Million, Two Hundred Thousand (USD 719.200.000). 

Exhibit B contains a detail of the investments for exploration with an aggregate expenditure commitment amounting to United States Dollars Ninety-Two Million (USD 92,000,000). Moreover, it contains a detail of investments and expenses contingent upon development of concessions for up to United States Dollars
Ninety-Six Million and Five Hundred Thousand (USD 96,500,000), subject to the outcome resulting from exploration activities. 

Such investment and expenses commitment for exploration detailed in Exhibit B attached hereto is valid always provided that, during the effective term of such
EXPLOITATION CONCESSIONS: a) no total or partial reversions thereof shall operate; b) the remaining exploration surface area shall not be reduced by reason of enlargement and/or appearance of exploitation lots, in which case the relevant adjustments
shall be performed. Such particular cases as may result in deviations from the amounts mentioned above shall be submitted for consideration by the ENFORCEMENT AUTHORITY in order to obtain approval thereof. 

 Total or partial reversions set forth in paragraph a), as well as reductions established in paragraph b)
shall have effects only as from January 1 of the year immediately succeeding the year when they have been petitioned. As from such opportunity, the ENFORCEMENT AUTHORITY shall make any adjustments as may be applicable in case of approval
thereof. 
 3.7. Supervision and Control: Follow-up of works, expenditures and investments to be made within
the concessions identified under Section 1 hereof shall be in charge of the ENFORCEMENT AUTHORITY. 
 In compliance with the terms of Sections 12.7.
and 12.11. of Exhibit I to Law No. 4,818, CONCESSIONAIRE undertakes to abide by the inspection and supervision programs to be performed by the ENFORCEMENT AUTHORITY. 

3.8. Río Negro Resources’ Use (Compre Rionegrino): CONCESSIONAIRE, as well as contractors and
subcontractors thereof, in connection with all engagements made thereby within the framework of the EXPLOITATION CONCESSION, shall utilize at least eighty percent (80%) of local labor, suppliers and services companies, for the purposes of promoting
the creation and maintenance of permanent jobs depending on the oil industry and consolidation of a competitive local market, through the strengthening of Río Negro’s small and medium-sized
companies and the increase of products, goods and services offered relating all the oil-industry employees, producers, industrial employees, professionals, businesspersons, and works and services companies
engaged in all segments settled in the PROVINCE. In this regard, it shall include, as part of its annual plans, programs aimed at increasing its network of goods, services and works’ providers, aiming at affording priority to the engagement of
Río Negro employees, acquisitions in the local market and establishing medium and long term contractual frameworks, in order to contribute to sustainability of the activity in the region, under equivalent conditions in terms of capacity,
responsibility, quality and price. 
 CONCESSIONAIRE and the ENFORCEMENT AUTHORITY shall conduct continuing monitoring of the evolution levels of local and
regional services’ engagement, in order to analyze the difficulties or obstacles encountered and the changes or actions to be taken in order to facilitate such circumstances. In those cases where special circumstances shall exist, such events
shall be evaluated by the PARTIES at the request of any of them. 
 Insofar as companies are concerned, a company is deemed to meet such “local”
requirement if such company has an operations’ base settled in the PROVINCE and if PROVINCE taxes are levied thereon. As concerns labor, such “local” status requirement is met if the relevant person furnishes evidence of actual
residence in the PROVINCE for at least two (2) years. The above-mentioned percentage must be observed in equal proportions for operations, base, clerical and supervision personnel and senior executive employees. 

Notwithstanding, in those cases where by reason of the specific circumstances and/or the characteristics of tasks to be performed and/or disadvantageous
conditions of capacity, responsibility, quality or price, it is not possible or convenient (e.g. in case of unavailability of failure to deliver within the terms required for the operation, safety of people or facilities,

 
etc.) to hire local labor, suppliers or services companies, CONCESSIONAIRE shall be released from such obligation by furnishing evidence of such circumstances to the ENFORCEMENT AUTHORITY at its
request. In all such cases, for the purposes of contracting or subcontracting works or services necessary to perform the activity, CONCESSIONAIRE shall implement the necessary selection procedures guaranteeing transparency, effective competition and
efficiency principles. 
 Furthermore, for the purposes of contracting or subcontracting works or services necessary to perform the activity, medium and
long term contractual frameworks must be used, unless such works or services engaged are required for a period shorter than the above-mentioned term. 

Regardless of the domicile established in the city of Cipolletti, pursuant to the terms set forth in paragraph 4.1.1.4. of the Call for Bids’ Bidding
Terms and Conditions, CONCESSIONAIRE shall maintain, throughout the entire effective term of the Agreement, at least one operations’ base located in the PROVINCE. 

3.9. Corporate Social Responsibility: CONCESSIONAIRE shall contribute, within the state scope of the PROVINCE, to development in terms of education,
environment, health, culture, science and research, renewable energy and community development, on the basis of diagnosis to be performed by the PARTIES in line with the sustainability policy implemented by CONCESSIONAIRES. 

In this regard, Corporate Social Responsibility shall mean adoption by CONCESSIONAIRE of a commitment to participate as a member of the local and regional
society in which it is involved, contributing to sustainable development of such communities it forms part of and conducting investments aimed at creating shared value and sustained mutual benefits. 

On an annual basis, CONCESSIONAIRES shall submit a sustainability report indicating the programs and actions implemented, including indicators establishing
the results obtained and the improvement lines proposed to be implemented on the following year. 
 3.10. Environment: CONCESSIONAIRE shall be bound
to comply, throughout the entire EXPLOITATION CONCESSION term, with all the effective environmental statutory regulations, applicable to the holders of such permits and concessions and with any other regulations as may be enacted in the future and,
in particular, with the following regulations: Section 41 of the Argentine Constitution and Sections 84 and 85, related to Section 79 of the Province of Río Negro Constitution; Provincial Law Q 2,952 (Water Code) and Provincial Law
M 3,266 (Regulation of Environmental Impact Assessment Procedure) and regulatory executive orders thereof; National Law No. 17,319 and effective regulations thereof; Provincial Executive Order No. 452/05 and Resolutions issued by the
Secretariat of Energy of Argentina No. 105/92, 319/93, 341/93, 05/96, 201/96, 24/04, 25/04 and 785/05; as well as the regulations enacted by the competent authority in the future. In particular, CONCESSIONAIRE obligations shall include adoption
of the necessary measures for prevention of contamination, either caused by operations or by accident, as well as any other regulations governing abandonment of facilities and reasonable use of resources. 

 CONCESSIONAIRE undertakes to remediate environmental liabilities reported in due course under the relevant
affidavits and which are made an integral part hereof as Exhibit C to this AGREEMENT, in accordance with the remediation plans to be submitted on an annual basis within the first 60 (sixty) calendar days of each year to the ENFORCEMENT AUTHORITY for
approval. Each annual plan shall indicate: type of liability, location, size, remediation methodology proposed, estimated investment amount to be disbursed over the year stated in United States Dollars, stages and anticipated performance term and
type of monitoring and control proposed. The annual plan submitted shall be considered to have been approved if no objections are made by the ENFORCEMENT AUTHORITY thereto, within a maximum twenty (20) business days’ term following receipt
thereof. 
 The aggregate investment undertaken by CONCESSIONAIRE for performance of the relevant remediation plans pertaining to the areas involved in the
extensions agreed upon under this Agreement, as indicated in Exhibit C hereto, amounts to United States Dollars Fifteen Million, Three Hundred and Sixty-One Thousand, One Hundred and Forty-Two (USD 15,361,142). For the purposes of guaranteeing compliance with the investment undertaken, the PROVINCE may claim to CONCESSIONAIRE posting of bond for a sufficient amount as per the terms of
Section 4.1.6.2. of Exhibit I to Law No. 4,818. Notwithstanding that, should the remediation works eventually require a higher amount than committed, the entire cost shall be borne by CONCESSIONAIRE. 

The list of liabilities arising from Exhibit C hereto shall not release CONCESSIONAIRE from legal liability stemming from other liabilities which have not
been disclosed thereby or which have not been detected by the ENFORCEMENT AUTHORITY to date. If existence of such liabilities is detected in the future, such liabilities shall be remediated within the reasonable terms fixed by the ENFORCEMENT
AUTHORITY pursuant to the applicable legislation. The foregoing terms shall apply notwithstanding full exercise of the police power vested in the ENFORCEMENT AUTHORITY and/or the competent provincial authority in this regard (i.e. environmental
protection and sustainable development). 
 The ENFORCEMENT AUTHORITY puts on record that, in case of non-compliance
in due and/or timely manner, the ENFORCEMENT AUTHORITY shall be thus empowered to apply the penalties as may be applicable to CONCESSIONAIRE through the relevant competent authority. 

3.11. State of Facilities: Based upon the terms set forth in paragraph a.3 of Section 4 of Law No. 4,818, the PARTIES have agreed to approve
the Program which is made an integral part of this AGREEMENT as Exhibit D hereto, whereby CONCESSIONAIRE undertakes to cure appropriately any defects and abnormal conditions detected during the visits to the area. 

The ENFORCEMENT AUTHORITY puts on record that, in case of non-compliance in due and timely manner, the ENFORCEMENT
AUTHORITY shall be thus empowered to apply the penalties as may be applicable to CONCESSIONAIRE. 
 3.12. Exploration Surface Areas: Notwithstanding
CONCESSIONAIRE’s right to proceed to partial or total reversion of supplementary exploration surface areas, always provided that such reversion is not contrary to the effective legislation and evaluating the reasons and the grounds justifying
such reversion, attempting in all cases to ensure convenient geographic proportions for future exploitation of the reverted areas, the PARTIES agree that the boundaries and areas of the EXPLOITATION CONCESSIONS being the subject-matter hereof are
defined as per the terms indicated in Exhibit E hereto, based upon the expenditure commitments undertaken by CONCESSIONAIRE by virtue of the AGREEMENT and in accordance with geology knowledge of CONCESSIONAIRE whereby they are established as the
best option to perform supplementary exploration activities at the CONCESSIONS. 

 For the purposes of guaranteeing compliance with the effective laws and in order to ensure that
supplementary exploration areas intended to be reverted form convenient geographic proportions for future exploitation thereof, reversion petitions made by CONCESSIONAIRE – indicating the reasons and grounds justifying such reversion –
shall be expressly approved by the ENFORCEMENT AUTHORITY and shall only become effective as from January 1 of the year immediately following petition thereof. 

Payment of the relevant option fee for retaining the remaining surface area at the EXPLOITATION CONCESSION (National Executive Order No. 820/98) is not a
sufficient condition to retain such area, without performance of the relevant exploration investments. 
 3.13. Public Water Industrial Use:
CONCESSIONAIRE shall pay, on a regular basis, to the Provincial Water Department or to the provincial agency as may replace and/or substitute it in the future, the relevant amounts applicable to consumption of public water for industrial use. 

3.14. Quarries: Materials used in the activity shall be obtained from mining quarries duly authorized by the relevant Provincial Authority. Upon breach
of this obligation, CONCESSIONAIRE shall be jointly and severally liable for violations of the Mining Procedure Code as may be attributable to the quarry’s owner and/or to the party entitled to exploitation thereof. 

3.15. Trainee Programs: CONCESSIONAIRE undertakes to include, on an annual basis, and in connection with each CONCESSION which term is extended
hereunder, at its expense, an university / college student settled in the Province of Río Negro and enrolled in any course of studies relating to the hydrocarbons’ segment, hired under Law No. 26,427 and related provisions, so as to
provide them with training in connection with industry-related activities. 
 3.16. IT Licenses: CONCESSIONAIRE shall purchase, for each Exploitation
Concession which term is extended hereunder, at its expense and in the name of the ENFORCEMENT AUTHORITY and/or whoever it may designate, a GIS or similar license being suitable for performance of the terms under paragraph 4.1.8. of the Bidding
Terms and Conditions; otherwise, at the request of the ENFORCEMENT AUTHORITY, it shall deliver the equipment as indicated thereby in lieu thereof, for an equivalent amount. 

3.17. Turnover Tax: CONCESSIONAIRE undertakes to pay, as from the effective date of this AGREEMENT, a three percent (3%) Turnover Tax rate for
extraction of liquid and/or gaseous hydrocarbons dispatched without issuing the relevant invoices outside the Province of Río Negro, either sold in their state at the time of extraction or in the form of byproducts obtained after
industrialization processes. Such tax rate shall be maintained throughout the effective term of the EXPLOITATION CONCESSIONS, and extensions thereof, without any additions or supplements. 

 3.18 EDHiPSA Participation: It is hereby agreed upon by the PARTIES, as an additional renegotiation
condition, that Concessionaire shall assign five percent (5%) of the rights and obligations thereof to the company known as Empresa de Desarrollo Hidrocarburífero Provincial Sociedad Anónima (EDHiPSA) in connection with
the “Río Neuquén” area exploitation concession in the Province of Río Negro, which term is extended by virtue of this AGREEMENT. Such assignment shall be executed under a Notarial Deed within a one hundred and eighty
(180) days’ term, counted as from the effective date of this AGREEMENT. The parties shall thereupon create a Joint Venture company (Unión Transitoria de Empresas—UTE) in order to regulate the operation and development of
the area, according to the share applicable to each company. Notwithstanding the foregoing, EDHiPSA participation right shall have retroactive effect as of the effective date of this AGREEMENT. 

Section 4: INFORMATION TO BE DELIVERED TO THE ENFORCEMENT AUTHORITY 

During the effective term of the CONCESSION, CONCESSIONAIRE shall furnish, in due and timely manner, to the ENFORCEMENT AUTHORITY such technical documents,
information and programs according to the terms set forth by the applicable provincial and national regulations currently in effect. 
 Section 5:
EFFECTIVE DATE 
 Unless otherwise established expressly hereunder, all the obligations undertaken under this AGREEMENT shall become enforceable as
from confirmation hereof by the Provincial Legislature. Upon failure to obtain such confirmation from the Provincial Legislature within thirty-nine (39) days counted as from execution hereof, this AGREEMENT shall be terminated without any
effects whatsoever stemming herefrom between the PARTIES, and without any liability attributable thereto. 
 Section 6: STAMP TAX 

Pursuant to the terms set forth under Section 9 of Law No. 4,818, for the purpose of Stamp Tax calculation, the taxable based under this AGREEMENT
shall be based on the amount agreed upon as Fixed Fee hereunder. CONCESSIONAIRE shall be bound to effect total payment of this tax pursuant to the terms prescribed by Law No. 4,818. 

Section 7: TECHNICAL LIAISON COMMITTEE 
 The
ENFORCEMENT AUTHORITY and CONCESSIONAIRE shall form a Technical Liaison Committee, comprised of two (2) representatives of the ENFORCEMENT AUTHORITY and two (2) representatives of CONCESSIONAIRE. 

Such Committee shall meet mandatorily at least once every one hundred and eighty (180) days, at a place to be determined by the Concession Authority and
it shall convene extraordinary meetings if necessary, for the purpose of monitoring development of activities related to field exploration and/or exploitation. 

The matters discussed at each meeting and the agreements arrived at shall be put on record under minutes duly signed by the parties. 

Section 8: EVENTS OF BREACH 
 In the event of
repeated events of material and unjustified breach by CONCESSIONAIRE of the obligations undertaken under Sections 3.1., 3.2., 3.3. and 3.6. of this AGREEMENT, the terms of Section 80 of Law No. 17,319 may apply. Prior to the termination
declaration, the PROVINCE shall give notice to CONCESSIONAIRE demanding the latter to cure any potential breach within a reasonable term. 

 The foregoing terms shall apply notwithstanding the power, which may not be waived in any case whatsoever,
of the ENFORCEMENT AUTHORITY to demand compliance in kind with all the breached obligations and commitments through the administrative and/or judicial proceedings as may be appropriate. 

Breach of the obligations and commitments undertaken by CONCESSIONAIRE under the AGREEMENT which have not been included in the first paragraph of this Section
shall not entail application of the penalty established under Section 80 of Law No. 17,319, but such performance may be demanded by means of the relevant administrative or court proceedings before the competent authorities. The PROVINCE
shall thus reaffirm the powers entrusted thereto to apply the penalties through the competent administrative authorities, subject to the effective applicable laws. 

Section 9: APPLICABLE LAW. DISPUTE RESOLUTION 
 9.1.
This AGREEMENT establishes all the rights and obligations of the PARTIES and constitutes the entire and final agreement of the PARTIES in connection with the subject-matter hereof and, following confirmation by the Provincial Legislature, the terms
hereof shall supersede and prevail over any other prior agreement and/or regulations in connection with the CONCESSIONS’ renegotiation. 
 This
AGREEMENT shall be governed by and construed in accordance with the effective national and provincial laws. 
 For the purposes of regulatory construction,
the following order of priority shall be observed in case of controversy: 
 a. Section 124 of the Argentine Constitution. 

b. Sections 70 and 79 of the Provincial Constitution. 
 c.
National Laws No. 17,319, No. 24,145, No. 26,197 and the Mining Code of Argentina, regulatory executive orders and amendment laws, as well as the environmental and safety regulations described in the following paragraph. 

d. Provincial Law Q 4,296 and Provincial Law Q 2,627 and Regulatory Executive Order No. 24/03 thereof. 

e. Provincial Law No. 3,250 (Special Waste Management and Environmental Protection), Provincial Law No. 3,266 (Environmental Impact Assessment
Procedure Regulation), Provincial Law No. 2,952 (Water Code), Provincial Law No. 4,187 and Provincial Executive Order No. 492/05. 
 f.
Executive Orders issued by the National Executive Branch of Government regulating the hydrocarbons’ activity. 
 g. Executive Orders issued by the
Provincial Executive Branch of Government regulating the hydrocarbons’ activity. 

 h. Resolutions issued by the Argentine Secretariat of Energy regulating the hydrocarbons’ activity.

 i. Resolutions issued by the Secretariat of Energy of Río Negro regulating the hydrocarbons’ activity. 

j. Resolutions issued by the Secretariat of Hydrocarbons of Río Negro regulating the hydrocarbons’ activity. 

9.2. The PARTIES shall resolve in good faith, by mutual consultation, any questions or controversy arising from or in connection with the AGREEMENT and they
shall endeavor to reach an agreement in connection with such matters or controversies. 
 9.3. Any differences as may arise in connection with construction
and application of this AGREEMENT which may not be resolved between the PARTIES shall be submitted to the jurisdiction of the Ordinary Courts of the First Judicial District in and for the Province of Río Negro, with seat in the City of
Viedma, expressly excluding and waiving any other venue or jurisdiction as may be applicable thereto. 
 This AGREEMENT is entered into by the PARTIES at
the place and on the date as first written hereinabove, in three (3) counterparts of the same tenor and to only one effect. 
 Eng. Néstor M.
Echegoyen, Secretary of Energy of the Province of Río Negro. Marcelo Gerardo Gómez, Attorney-in-fact for Petrobras Argentina S.A. 

Exhibit A 
 EXPLOITATION
INVESTMENT PLAN 
 The exploitation investment plan is aimed at developing the reserves at “Jagüel de los Machos,” “25 de
Mayo—Medanito” and “Río Neuquén” Areas until termination of the AGREEMENT. Therefore, CONCESSIONAIRE undertakes to perform drilling of new wells and adjustment, improvement and optimization of facilities in order to
obtain the greatest level of recovery of reserves, both discovered and to be discovered, by means of operations reasonably compatible with appropriate exploitation, from a financial and technical standpoint, of the field. 

Moreover, it details the annual investments divided into: Wells Drilling, Batteries, Treatment Plants, Aqueducts, Pipelines, Oil Pipelines, Gas Pipelines and
others; in accordance with the Argentine Secretariat of Energy (SEN) form (Res. 2057/2005 Exhibits I and II) and anticipated annual expenses in connection with Labor, Workover, Services, Energy, Materials and others (Lifting Cost Components).

 EXHIBIT A 

Exploitation Investment Plan – Resolution SEN No. 2057/2005 Exhibits I and II 

 

							
	ACTION PLAN AND INVESTMENTS TO BE PERFORMED	  	YEAR	  	2014-2027
	EXPLOITATION CONCESSION	  	Consolidated	  		  	
	OPERATOR	  	PETROBRAS ARGENTINA S.A.	  		  	
	PROVINCE	  	RÍO NEGRO	  		  	
	FIELD	  	25 de Mayo Medanito / Jagüel de los Machos / Río Neuquén	  	NEUQUEN	  	BASIN

  

																					
	 	  	 	 	  	 	 	 	INVESTMENTS	 
	 	  	 	 	 	EXPLOITATION	 	  	SUPPLEMENTARY
EXPLORATION	 	  	TOTAL	 
	 ACTION PLAN DESCRIPTION
	  	Quantity	 	  	Units	 	 	Million USD	 	  	Million USD	 	  	Million USD	 
	 2D Seismic Data Acquisition
	  				  	 	Km	 	 				  				  			
	 3D Seismic Data Acquisition
	  	 	100	 	  	 	Km2	 	 	 	6.50	 	  				  	 	6.50	 
	 Exploration Wells Drilling
	  				  	 	WELLS	 	 				  				  	 	—  	 
	 Advanced Wells Drilling
	  				  	 	WELLS	 	 				  				  	 	—  	 
	 Oil Wells Drilling
	  	 	87	 	  	 	WELLS	 	 	 	172.11	 	  				  	 	172.11	 
	 Gas Wells Drilling
	  				  	 	WELLS	 	 				  				  	 	—  	 
	 Drain pit Drilling
	  				  	 	WELLS	 	 				  				  	 	—  	 
	 Water Injection Wells Drilling
	  				  	 	WELLS	 	 				  				  	 	—  	 
	 Gas Injection Wells Drilling
	  				  	 	WELLS	 	 				  				  	 	—  	 
	 Injection Wells Drilling for Enhanced Recovery
	  				  	 	WELLS	 	 				  				  	 	—  	 
	 Oil Wells Workover
	  	 	72	 	  	 	WELLS	 	 	 	31.13	 	  				  	 	31.13	 
	 Gas Wells Workover
	  				  	 	WELLS	 	 				  				  	 	—  	 
	 Wells Conversion
	  	 	16	 	  	 	WELLS	 	 	 	2.60	 	  				  	 	2.60	 
	 Wells Abandonment
	  	 	35	 	  	 	WELLS	 	 	 	6.93	 	  				  	 	6.93	 
	 Enhanced Recovery Facilities
	  				  				 				  				  	 	—  	 
	 Secondary Recovery Facilities
	  				  				 				  				  	 	—  	 
	 Oil Pumping Equipment
	  				  				 				  				  	 	—  	 
	 Oil Pipelines
	  				  	 	KM	 	 				  				  	 	—  	 
	 Batteries and Dehydration and/or Desalting Plants
	  				  				 	 	34.23	 	  				  	 	34.23	 
	 Storage Plants
	  				  				 				  				  	 	—  	 
	 LACT Units
	  				  				 				  				  	 	—  	 
	 Gas Pipelines
	  				  				 				  				  	 	—  	 
	 Natural Gas Collection Networks
	  				  	 	KM	 	 				  				  	 	—  	 
	 Natural Gas Treatment Plants
	  				  	 	KM	 	 				  				  	 	—  	 
	 Natural Gas Compression Plants
	  				  	 	KM	 	 				  				  	 	—  	 
	 Liquid Gas Separation Plants
	  				  	 	[Illegible]	 	 				  				  	 	—  	 
	 Engines and Compressors Repair and Update
	  				  				 				  				  	 	—  	 
	 Buildings, Warehouses, Civil Works, Roads, Etc.
	  				  				 	 	18.75	 	  				  	 	18.75	 
	 Lab Facilities and Equipment
	  				  				 				  				  	 	—  	 
	 Environment
	  				  				 				  				  	 	—  	 
	 Other Investments
	  				  				 	 	22.10	 	  				  	 	22.10	 
	 Remarks
	  	 
	Other investments connected with studies
related to fields’ development	 
 	  			

									
	ACTION PLAN AND INVESTMENTS TO BE PERFORMED	  	YEAR	  	2014-2027
	OPERATOR	  	PETROBRAS ARGENTINA S.A.	  	
	CONCESSION	  	CONSOLIDATED	  		  	INVESTMENTS
	NEUQUEN	  	BASIN	  	EXPLOITATION	  	SUPPLEMENTARY EXPLORATION	  	TOTAL
	TOTAL FIELDS	  	294.3	  	0.0	  	294.3
		
	THE INFORMATION STATED HEREIN IS CONSIDERED TO BE IN THE NATURE OF AN AFFIDAVIT	  	SIGNATURE OF THE ATTORNEY-IN-FACT

  

																	
	 2014 Period Operating Expenses until
termination of the Negotiation Extension
	 
	 in Million Dollars
	 
	 Item
	  	25 de Mayo/
Medanito	 	  	Jagüel de
Los Machos	 	  	Río Neuquén	 	  	TOTAL	 
	 TOTAL OPERATING COST
	  				  				  				  			
	 Labor (Own Personnel)
	  	 	20.4	 	  	 	13.7	 	  	 	4.4	 	  	 	38.6	 
	 Workover and Pulling
	  	 	47.4	 	  	 	31.9	 	  	 	3.9	 	  	 	83.2	 
	 Services and Others
	  	 	107.9	 	  	 	72.6	 	  	 	17.5	 	  	 	198.0	 
	 Energy
	  	 	22.1	 	  	 	14.9	 	  	 	0.5	 	  	 	37.5	 
	 Materials and Surface Works
	  	 	39.6	 	  	 	26.6	 	  	 	1.4	 	  	 	67.6	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total Operating Costs
	  	 	237.5	 	  	 	159.7	 	  	 	27.7	 	  	 	424.9	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 Exploitation Investment Plan 

EXPLOITATION CONCESSIONS: 25 de Mayo Medanito S.E.- Jagüel de los Machos—Río Neuquén 

OPERATOR: Petrobras Argentina S.A. 
 PROVINCE:
Río Negro 
 INVESTMENTS COMMITMENT FOR RESERVES DEVELOPMENT AND HYDROCARBONS’ EXPLOITATION (in Million USD) 

 

																																																													
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	2027	 	  	Total	 
	 RESERVE DEVELOPMENT ACTIVITIES
	  	 	45.6	 	  	 	51.2	 	  	 	53.0	 	  	 	46.5	 	  	 	18.8	 	  	 	0.6	 	  	 	0.4	 	  	 	0.6	 	  	 	0.4	 	  	 	0.6	 	  	 	0.8	 	  	 	0.6	 	  	 	0.4	 	  				  	 	219.3	 
	 Oil Wells Drilling
	  	 	40.2	 	  	 	41.9	 	  	 	37.6	 	  	 	34.0	 	  	 	18.4	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	172.1	 
	 Oil Wells Workover
	  	 	5.4	 	  	 	7.2	 	  	 	7.9	 	  	 	10.5	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  				  	 	31.1	 
	 Wells Conversion
	  	 	—  	 	  	 	1.0	 	  	 	0.8	 	  	 	0.8	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  				  	 	2.6	 
	 Wells Abandonment
	  	 	—  	 	  	 	1.1	 	  	 	0.2	 	  	 	1.1	 	  	 	0.4	 	  	 	0.6	 	  	 	0.4	 	  	 	0.6	 	  	 	0.4	 	  	 	0.6	 	  	 	0.8	 	  	 	0.6	 	  	 	0.4	 	  				  	 	6.9	 
	 3D Seismic Data Acquisition (100 km2)
	  	 	—  	 	  	 	—  	 	  	 	6.5	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	6.5	 
	 SURFACE AREA FACILITIES
	  	 	8.3	 	  	 	19.8	 	  	 	13.5	 	  	 	8.3	 	  	 	7.0	 	  	 	6.4	 	  	 	3.3	 	  	 	3.0	 	  	 	2.6	 	  	 	1.3	 	  	 	0.8	 	  	 	0.7	 	  	 	0.3	 	  				  	 	75.1	 
	 Secondary Recovery Facilities (1)
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  			
	 Oil Pumping Equipment (2)
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	—  	 
	 Batteries and Dehydration and/or Desalting Plants
	  	 	4.4	 	  	 	9.5	 	  	 	9.3	 	  	 	2.9	 	  	 	2.2	 	  	 	1.9	 	  	 	1.3	 	  	 	1.0	 	  	 	0.8	 	  	 	0.3	 	  	 	0.3	 	  	 	0.3	 	  	 	0.0	 	  				  	 	34.2	 
	 Natural Gas Compression Plants (1)
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	—  	 
	 Liquid Gas Separation Plants (1)
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	—  	 
	 Buildings, Warehouses, Civil Works, Roads, Etc.
	  	 	2.1	 	  	 	2.0	 	  	 	2.3	 	  	 	3.3	 	  	 	2.3	 	  	 	2.4	 	  	 	0.8	 	  	 	1.0	 	  	 	0.8	 	  	 	0.7	 	  	 	0.5	 	  	 	0.4	 	  	 	0.3	 	  				  	 	18.7	 
	 Environment (3)
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	—  	 
	 Other Investments
	  	 	1.8	 	  	 	8.3	 	  	 	1.9	 	  	 	2.1	 	  	 	2.5	 	  	 	2.0	 	  	 	1.2	 	  	 	1.0	 	  	 	1.0	 	  	 	0.3	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	22.1	 
	 MAINTENANCE BY REASON OF BROKEN ELEMENTS OR CONTINGENCY
	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  	 	—  	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  				  	  
	  
	 
		  	 	53.9	 	  	 	71.0	 	  	 	66.5	 	  	 	54.7	 	  	 	25.8	 	  	 	6.9	 	  	 	3.6	 	  	 	3.6	 	  	 	3.0	 	  	 	1.9	 	  	 	1.6	 	  	 	1.3	 	  	 	0.7	 	  				  	 	294.3	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  				  	  
	  
	 
			
	 INVESTMENTS COMMITMENT FOR RESERVES DEVELOPMENT (detail)
	  
	  				  			
																
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	2027	 	  	Total	 
	RESERVE DEVELOPMENT ACTIVITIES	  				  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Oil Wells Drilling
	  	 	20	 	  	 	21	 	  	 	20	 	  	 	18	 	  	 	8	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	87	 
	 Oil Wells Workover
	  	 	12	 	  	 	17	 	  	 	17	 	  	 	26	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	72	 
	 Wells Conversion
	  	 	3	 	  	 	2	 	  	 	9	 	  	 	2	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  				  	 	16	 
	 Wells Abandonment
	  	 	—  	 	  	 	5	 	  	 	1	 	  	 	5	 	  	 	2	 	  	 	3	 	  	 	2	 	  	 	3	 	  	 	2	 	  	 	3	 	  	 	4	 	  	 	3	 	  	 	2	 	  				  	 	35	 

  

																																																													
	 ANTICIPATED OPERATING EXPENSES (in million USD)
	  

																
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	2027	 	  	Total	 
	 TOTAL OPERATING COST
	  	 	40.5	 	  	 	39.9	 	  	 	38.9	 	  	 	37.6	 	  	 	36.7	 	  	 	36.8	 	  	 	35.2	 	  	 	34.3	 	  	 	31.1	 	  	 	30.5	 	  	 	26.9	 	  	 	22.0	 	  	 	12,8	 	  	 	1.7	 	  	 	424.9	 
	 Labor (Own Personnel)
	  	 	3.7	 	  	 	3.6	 	  	 	3.5	 	  	 	3.4	 	  	 	3.3	 	  	 	3.3	 	  	 	3.2	 	  	 	3.1	 	  	 	2.8	 	  	 	2.8	 	  	 	2.5	 	  	 	2.0	 	  	 	1.2	 	  	 	0.3	 	  	 	38.6	 
	 Workover and Pulling
	  	 	8.0	 	  	 	7.8	 	  	 	7.6	 	  	 	7.4	 	  	 	7.2	 	  	 	7.2	 	  	 	6.9	 	  	 	6.7	 	  	 	6.1	 	  	 	6.0	 	  	 	5.3	 	  	 	4.3	 	  	 	2.5	 	  	 	0.2	 	  	 	83.2	 
	 Services and Others
	  	 	18.7	 	  	 	18.5	 	  	 	18.1	 	  	 	17.4	 	  	 	17.1	 	  	 	17.1	 	  	 	16.4	 	  	 	15.8	 	  	 	14.5	 	  	 	14.1	 	  	 	12.6	 	  	 	10.4	 	  	 	6.2	 	  	 	1.1	 	  	 	198.0	 
	 Energy
	  	 	3.6	 	  	 	3.6	 	  	 	3.5	 	  	 	3.3	 	  	 	3.3	 	  	 	3.3	 	  	 	3.1	 	  	 	3.0	 	  	 	2.8	 	  	 	2.7	 	  	 	2.4	 	  	 	1.9	 	  	 	1.1	 	  	 	0.0	 	  	 	37.5	 
	 Materials and Surface Works
	  	 	6.7	 	  	 	6.4	 	  	 	6.2	 	  	 	6.1	 	  	 	5.9	 	  	 	5.9	 	  	 	5.6	 	  	 	5.6	 	  	 	4.9	 	  	 	5.0	 	  	 	4.2	 	  	 	3.4	 	  	 	1.8	 	  	 	—  	 	  	 	67.6	 

	(1)	 Batteries and Dehydration and/or Desalting Plants. It includes every investment in Plants, Batteries and
Pipelines 

	(2)	 Equipment of new wells is included in the wells’ cost 

	(3)	 Included in Other Investments 

	(*)	 It includes injection wells 

 Exhibit B 

EXPLORATION INVESTMENT PLAN 
 The
exploration investment plan is aimed at increasing hydrocarbons’ reserves which have not been certified to date until termination of the “Jagüel de los Machos,” “25 de Mayo—Medanito” and “Río
Neuquén” Areas. Exploration works may be performed outside the existing exploitation lots or deeper horizons may be surveyed within the existing exploitation lots, trying to locate other targets, including the so-called “Unconventional” targets. To such end, Concessionaire must submit a detailed description of works to be performed in every three-year period, including anticipated expenditures for each period
under consideration until termination of the Agreement. 
 Furthermore, it details the investments divided into 2D and 3D Seismic Processing
and Registration, Magnetometry, Gravimetry, Air Surveys, Wells Drilling and others, according to the SEN Form (Res. 2057/2005 Exhibits I and II) and anticipated expenses in connection with Labor, Services, Transportation, Materials and others. 

In those cases where the Enforcement Authority shall ascertain, by any sufficient means, that the exploration programs’ investment plan
has not been complied with, such Authority shall be empowered to demand performance of such commitment within reasonable terms, under warning of ordering reversion of such fractions of surface areas involved. 

EXHIBIT B 
 Exploration
Investment Plan – Resolution SEN No. 2057/2005 Exhibits I and II 
  

							
	ACTION PLAN AND INVESTMENTS TO BE PERFORMED	  	YEAR	  	2014-2027
	EXPLOITATION CONCESSION	  	Consolidated	  		  	
	OPERATOR	  	PETROBRAS ARGENTINA S.A.	  		  	
	PROVINCE	  	RÍO NEGRO	  		  	
	FIELD	  	25 de Mayo Medanito / Jagüel de los Machos / Río Neuquén	  	NEUQUEN	  	BASIN

  

																					
	 	  	 	 	  	 	 	  	INVESTMENTS	 
	 	  	 	 	  	EXPLOITATION	 	  	SUPPLEMENTARY
EXPLORATION	 	  	TOTAL	 
	 ACTION PLAN DESCRIPTION
	  	Quantity	 	  	Units	 	  	Million USD	 	  	Million USD	 	  	Million USD	 
	 2D Seismic Data Acquisition
	  				  	 	Km	 	  				  				  			
	 3D Seismic Data Acquisition
	  				  	 	Km2	 	  				  				  			
	 Exploration Wells Drilling
	  	 	5	 	  	 	WELLS	 	  				  	 	25.50	 	  	 	25.50	 
	 Advanced Wells Drilling
	  	 	10	 	  	 	WELLS	 	  				  	 	66.50	 	  	 	66.50	 
	 Oil Wells Drilling(*)
	  	 	29	 	  	 	WELLS	 	  				  	 	83.10	 	  	 	83.10	 
	 Gas Wells Drilling
	  				  	 	WELLS	 	  				  				  			
	 Drain pit Drilling
	  				  	 	WELLS	 	  				  				  			
	 Water Injection Wells Drilling
	  				  	 	WELLS	 	  				  				  			
	 Gas Injection Wells Drilling
	  				  	 	WELLS	 	  				  				  			
	 Injection Wells Drilling for Enhanced Recovery
	  				  	 	WELLS	 	  				  				  			
	 Oil Wells Workover
	  				  	 	WELLS	 	  				  				  			
	 Gas Wells Workover
	  				  	 	WELLS	 	  				  				  			
	 Wells Conversion
	  				  	 	WELLS	 	  				  				  			
	 Wells Abandonment
	  				  	 	WELLS	 	  				  				  			
	 Enhanced Recovery Facilities
	  				  				  				  				  	 	—  	 
	 Secondary Recovery Facilities    
	  				  				  				  				  	 	—  	 

																					
	 Oil Pumping Equipment
	 				  				 				  				  			
	 Oil Pipelines
	 				  	 	KM	 	 				  				  			
	 Batteries and Dehydration and/or Desalting Plants
	 				  				 				  				  			
	 Storage Plants
	 				  				 				  				  			
	 LACT Units
	 				  				 				  				  			
	 Gas Pipelines
	 				  				 				  				  			
	 Natural Gas Collection Networks
	 				  	 	KM	 	 				  				  			
	 Natural Gas Treatment Plants
	 				  	 	KM	 	 				  				  			
	 Natural Gas Compression Plants
	 				  	 	KM	 	 				  				  			
	 Liquid Gas Separation Plants
	 				  	 	[Illegible]	 	 				  				  			
	 Engines and Compressors Repair and Update
	 				  				 				  				  			
	 Buildings, Warehouses, Civil Works, Roads, Etc.
	 				  				 				  				  			
	 Lab Facilities and Equipment
	 				  				 				  				  			
	 Environment
	 				  				 				  				  			
	 Other Investments
	 				  				 				  				  			
	 Remarks
	 	    
	 (*)   Contingent: Activity associated with exploration
success’
outcome
	    
 

  

									
	ACTION PLAN AND INVESTMENTS TO BE PERFORMED	  	YEAR	  	2014-2027
	OPERATOR	  	PETROBRAS ARGENTINA S.A.	  	
	CONCESSION	  	CONSOLIDATED	  		  	INVESTMENTS
	NEUQUEN	  	BASIN	  	EXPLOITATION	  	SUPPLEMENTARY
EXPLORATION	  	TOTAL
	TOTAL FIELD	  	0.0	  	175.1	  	175.1
		
	THE INFORMATION STATED HEREIN IS CONSIDERED TO BE IN THE NATURE OF AN AFFIDAVIT	  	SIGNATURE OF THE ATTORNEY-IN-FACT

  

									
	 Operating Expenses contingent upon
exploration success until termination of the Negotiation Extension
	 
	
	 In Million Dollars
	 
	 Item 
	  	Ant. Contingent	 	  	TOTAL	 
	 TOTAL OPERATING COST
	  				  			
	 Labor (Own Personnel)
	  	 	1.2	 	  	 	1.2	 
	 Workover and Pulling
	  	 	2.6	 	  	 	2.6	 
	 Services and Others
	  	 	6.1	 	  	 	6.1	 
	 Energy
	  	 	1.3	 	  	 	1.3	 
	 Materials and Surface Works
	  	 	2.2	 	  	 	2.2	 
		  	  
	  
	 	  	  
	  
	 
	 Total Operating Costs
	  	 	13.4	 	  	 	13.4	 
		  	  
	  
	 	  	  
	  
	 

 EXPLORATION INVESTMENTS PLAN 

EXPLOITATION CONCESSIONS: 25 de Mayo Medanito S.E.- Jagüel de los Machos—Río Neuquén 

OPERATOR: Petrobras Argentina S.A. 
 PROVINCE:
Río Negro 
 TOTAL EXPLORATION EXPENDITURES COMMITMENT 
  

																																																													
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	2027	 	  	Total	 
	 Remaining surface area (km2)*
	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	192.5	 	  	 	132.6	 	  	 	122.2	 	  			
	 Total expenditures (Million USD)
	  	 	—  	 	  	 	2.0	 	  	 	21.5	 	  	 	21.5	 	  	 	21.5	 	  	 	21.5	 	  	 	2.0	 	  	 	2.0	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	92.0	 

  

	*	 In case the remaining exploration surface area is reduced by reason of enlargement and/or appearance of
exploitation lots or by reason of total or partial reversion of surface areas, the relevant adjustments shall be made in accordance with Sections 3.5 and 3.10 of Exhibit II to Law No. 4,818. 

Surface area of Norte de Tapera Este project (approximately 7.5 km2) 

PRELIMINARY HYDROCARBONS’ EXPLORATION PROGRAM (detail) 
  

																																																													
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	2027	 	  	Total	 
	 Exploration Wells Drilling
	  	 	—  	 	  	 	1	 	  	 	2	 	  	 	—  	 	  	 	1	 	  	 	1	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	5	 
	 Extension Wells Drilling
	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	3	 	  	 	2	 	  	 	2	 	  	 	1	 	  	 	1	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	10	 

 PRELIMINARY HYDROCARBONS’ EXPLORATION PROGRAM (in million USD)** 

 

																																																													
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	2027	 	  	Total	 
	 Exploration Wells Drilling
	  	 	—  	 	  	 	2.0	 	  	 	19.5	 	  	 	—  	 	  	 	2.0	 	  	 	2.0	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	25.5	 
	 Extension Wells Drilling
	  	 	—  	 	  	 	—  	 	  	 	2.0	 	  	 	21.5	 	  	 	19.5	 	  	 	2.0	 	  	 	2.0	 	  	 	1	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	66.5	 
	 Other Investments
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 

  

	*	 The program submitted is a preliminary program and it will be reviewed at the technical committee meetings set
forth by Section 7 of Exhibit II to Law No. 4,818. Moreover, the program may be amended pursuant to the proposed investments results. 

 CONTINGENT INVESTMENTS PLAN (SUBJECT TO EXPLORATION ACTIVITIES SUCCESS) 

EXPLOITATION CONCESSIONS: 25 de Mayo Medanito S.E. and Jagüel de los Machos 

OPERATOR: Petrobras Argentina S.A. 
 PROVINCE:
Río Negro 
  

																																																									
	 INVESTMENTS CONTINGENT UPON RESOURCES DEVELOPMENT RESULTING FROM EXPLORATION
SUCCESS (in Million USD)
	  

															
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	Total	 
	DEVELOPMENT ACTIVITIES	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	2.6	 	  	 	20.9	 	  	 	27.1	 	  	 	20.9	 	  	 	9.0	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	80.4	 
	 Oil Wells Drilling(*)
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	2.6	 	  	 	20.9	 	  	 	27.1	 	  	 	20.9	 	  	 	9.0	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  			
	 Oil Wells Workover
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Wells Conversion
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Wells Abandonment
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	SURFACE AREA FACILITIES	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	2.7	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	2.7	 
	 Secondary Recovery Facilities (1)
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	2.7	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  			
	 Oil Pumping Equipment (2)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Batteries and Dehydration and/or Desalting Plants (1)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Natural Gas Compression Plants (1)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Liquid Gas Separation Plants (1)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Buildings, Warehouses, Civil Works, Roads, Etc.
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Environment (3)
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 Other Investments
	  				  				  				  				  				  				  				  				  				  				  				  				  				  			
	 MAINTENANCE BY REASON OF BROKEN ELEMENTS OR CONTINGENCY
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	2.6	 	  	 	23.5	 	  	 	27.1	 	  	 	20.9	 	  	 	9.0	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	83.1	 
	
	 INVESTMENTS CONTINGENT UPON RESOURCES DEVELOPMENT RESULTING FROM EXPLORATION
SUCCESS (detail)
	  

															
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	Total	 
	DEVELOPMENT ACTIVITIES	  			
	 Oil Wells Drilling*
	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	7	 	  	 	10	 	  	 	8	 	  	 	3	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	29	 
	 Oil Wells Workover
	  				  				  				  				  				  				  				  				  				  				  				  				  				  	 	—  	 
	 Wells Conversion
	  				  				  				  				  				  				  				  				  				  				  				  				  				  	 	—  	 
	 Wells Abandonment
	  				  				  				  				  				  				  				  				  				  				  				  				  				  	 	—  	 
	
	 OPERATING EXPENSES CONTINGENT UPON DEVELOPMENT RESULTING FROM EXPLORATION SUCCESS
(in Million USD)
	  

															
	 Ítem
	  	2014	 	  	2015	 	  	2016	 	  	2017	 	  	2018	 	  	2019	 	  	2020	 	  	2021	 	  	2022	 	  	2023	 	  	2024	 	  	2025	 	  	2026	 	  	Total	 
	TOTAL OPERATING COST	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	0.1	 	  	 	0.6	 	  	 	1.6	 	  	 	2.4	 	  	 	2.4	 	  	 	2.0	 	  	 	1.7	 	  	 	1.5	 	  	 	1.0	 	  	 	—  	 	  	 	13.4	 
	 Labor (Own Personnel)
	  				  				  				  	 	0.0	 	  	 	0.1	 	  	 	0.1	 	  	 	0.2	 	  	 	0.2	 	  	 	0.2	 	  	 	0.1	 	  	 	0.1	 	  	 	0.1	 	  	 	—  	 	  	 	1.154	 
	 Workover and Pulling
	  				  				  				  	 	0.0	 	  	 	0.1	 	  	 	0.3	 	  	 	0.5	 	  	 	0.5	 	  	 	0.4	 	  	 	0.3	 	  	 	0.3	 	  	 	0.2	 	  	 	—  	 	  	 	2.679	 
	 Services and Others
	  				  				  				  	 	0.0	 	  	 	0.3	 	  	 	0.7	 	  	 	1.1	 	  	 	1.1	 	  	 	0.9	 	  	 	0.8	 	  	 	0.7	 	  	 	0.5	 	  	 	—  	 	  	 	6.100	 
	 Energy
	  				  				  				  	 	0.1	 	  	 	0.1	 	  	 	0.2	 	  	 	0.2	 	  	 	0.2	 	  	 	0.2	 	  	 	0.2	 	  	 	0.1	 	  	 	0.1	 	  	 	—  	 	  	 	1.250	 
	 Materials and Surface Works
	  				  				  				  	 	0.0	 	  	 	0.1	 	  	 	0.3	 	  	 	0.4	 	  	 	0.4	 	  	 	0.3	 	  	 	0.3	 	  	 	0.3	 	  	 	0.2	 	  	 	—  	 	  	 	2.239	 

  

	(1)	 Batteries and Dehydration and/or Desalting Plants: It includes every investment in Plants, Batteries and Piping

	(2)	 Equipment of new wells is included in the wells’ cost 

	(3)	 Included in Other Investments 

 EXHIBIT C 

ENVIRONMENTAL REMEDIATION PLAN 

Secretariat of Energy 
 RN—Río Negro
Government 
 EXHIBIT C 

Environmental Liabilities Remediation Plan 

CONCESSIONAIRE: Petrobras Argentina S.A. 
 CONCESSION
AREA: Río Neuquén 
  

																																	
	 	 	LOCATION	 	 	LIABILITY SIZE	 	 	 	 	 	 	 	 	PERFORMANCE TERM	 	 
	 ENVIRONMENTAL
LIABILITY
	 	FIELD	 	SECTOR—
AREA—
FACILITY	 	[Illegible]
COORDINATES	 	 	AFFECTED
AREA	 	 	AFFECTED
VOLUME	 	 	REMEDIATION
METHODOLOGY	 	INVESTMENT
AMOUNT IN
USD	 	STAGES	 	START	 	END	 	CONTROL
AND
MONITORING
TYPE
	 	 	 	 	 	 	X	 	 	Y	 	 	m2	 	 	m3	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Oil-spilled land
	 	Río
Neuquen	 	Battery
BAT-2	 	 	2 572.294	 	 	 	5.714.916	 	 	 	858	 	 	 	150.0	 	 	[Illegible]	 	USD -	 	Removal
and
Treatment
[Illegible]	 	[Illegible]	 	[Illegible]	 	Note
 submittedPETROBRAS

[Illegible]

	 Oil-spilled land
	 	Río
Neuquen	 	Battery
BAT-4	 	 	2 569 809	 	 	 	5.715.559	 	 	 	60	 	 	 	100.0	 	 	[Illegible]	 	USD	 	Removal
and
Treatment
[Illegible]	 	[Illegible]	 	[Illegible]	 	Note
 submittedPETROBRAS

[Illegible]

	 Oil-spilled land
	 	Río
Neuquen	 	Battery
BAT-7	 	 	2.573 879	 	 	 	5.713.236	 	 	 	85	 	 	 	23.8	 	 	[Illegible]	 	USD
[Illegible]	 	Removal
and
Treatment
[Illegible]	 	[Illegible]	 	[Illegible]	 	Partial and
final reports
	 Oil-spilled land
	 	Río
Neuquen	 	Battery
BAT-9	 	 	2.567 692	 	 	 	5.715.945	 	 	 	758	 	 	 	250.0	 	 	[Illegible]	 	USD	 	Removal
and
Treatment
[Illegible]	 	[Illegible]	 	[Illegible]	 	Note
 submittedPETROBRAS

[Illegible]

	 Oil-spilled land
	 	Río
Neuquen	 	Battery
BAT-9	 	 	2.567 701	 	 	 	5.715 889	 	 	 	1668	 	 	 	550.0	 	 	[Illegible]	 	USD	 	Removal
and
Treatment
[Illegible]	 	[Illegible]	 	[Illegible]	 	Note
 submittedPETROBRAS

[Illegible]

	 Oil-spilled land
	 	Río
Neuquen	 	[Illegible]
Tank	 	 	2.572.392	 	 	 	5.713.239	 	 	 	314	 	 	 	753.6	 	 	[Illegible]	 	USD
284 861	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial and
final reports
	 Oil-spilled land
	 	Río
Neuquen	 	[Illegible]
Well	 	 	2.577.952	 	 	 	5 717.172	 	 	 	45	 	 	 	22.1	 	 	[Illegible]	 	USD
8,354	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial and
final reports
	 Oil-spilled land
	 	Río
Neuquen	 	RN-110
Well	 	 	2.574.663	 	 	 	5712 518	 	 	 	18	 	 	 	26.3	 	 	[Illegible]	 	USD
9,941	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial and
final reports
	 Oil-spilled land
	 	Río
Neuquen	 	RN-112
Well	 	 	2 576 424	 	 	 	5 712 912	 	 	 	96	 	 	 	9.4	 	 	[Illegible]	 	USD
3.553	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial and
final reports
	 Oil-spilled land
	 	Río
Neuquen	 	RN-119
Well	 	 	2.570.523	 	 	 	5.714.355	 	 	 	404	 	 	 	324.9	 	 	[Illegible]	 	USD
122.812	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial and
final reports
	 Oil-spilled land
	 	Río
Neuquen	 	RN-130
Well	 	 	2.568.326	 	 	 	5.716.750	 	 	 	56	 	 	 	16.4	 	 	[Illegible]	 	USD
[Illegible]	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial and
final reports
	 Oil-spilled land    
	 	Río
Neuquen	 	RN-150
Well	 	 	2.573 199	 	 	 	5.714.042	 	 	 	982	 	 	 	1.178,4	 	 	[Illegible]	 	USD
445 435	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial and
final reports

																																															
	 Oil-spilled land
	 	 
	Río
Neuquen	 
 	 	 
	RN-0021
Well	 
 	 	 	2.572.110	 	 	 	5.714 807	 	 	 	280	 	 	 	125.0	 	 	[Illegible]	 	 	USD	 	 	 

	Removal
and
Treatment
[Illegible]	 
 
 
 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 

 
 
	Note
submitted
 PETROBRAS

[Illegible]
	 
 
  

 

	 Oil-spilled land
	 	 
	Río
Neuquen	 
 	 	 	RN-26 Well	 	 	 	2 569.601	 	 	 	5.717.382	 	 	 	1	 	 	 	0.2	 	 	[Illegible]	 	 	USD 76	 	 	 

	Removal
and
Treatment	 
 
 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 
	Partial and
final reports	 
 
	 Oil-spilled land
	 	 
	Río
Neuquen	 
 	 	 
	RN-0009
Well	 
 	 	 	2.571.213	 	 	 	5.715.658	 	 	 	25	 	 	 	24.4	 	 	[Illegible]	 	 
	USD 9
223	 
 	 	 

	Removal
and
Treatment	 
 
 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 
	Partial and
final reports	 
 
	 Oil-spilled land
	 	 
	Río
Neuquen	 
 	 	 	RN-98 Well	 	 	 	2.572.671	 	 	 	5 713.358	 	 	 	404	 	 	 	324.9	 	 	[Illegible]	 	 
	USD 122
812	 
 	 	 

	Removal
and
Treatment	 
 
 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 
	Partial and
final reports	 
 
	 Oil-spilled land
	 	 
	Río
Neuquen	 
 	 	 	RN-99 Well	 	 	 	2.574.268	 	 	 	5.712 977	 	 	 	1414	 	 	 	2.120,6	 	 	[Illegible]	 	 
	USD 801
587	 
 	 	 

	Removal
and
Treatment	 
 
 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 
	Partial and
final reports	 
 
	 Pools Monitoring
	 	 
	Río
Neuquen	 
 	 	 

	Sanitation of
2 pools in
1994-95	 
 
 	 	 	2 573 199	 	 	 	[Illegible	] 	 	 	2400	 	 	 	0.0	 	 	[Illegible]	 	 
	USD
[Illegible]	 
 	 	 	Monitoring	 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 
	Partial and
final reports	 
 
	 Repository
	 	 
	Río
Neuquen	 
 	 	 
	[Illegible]
Well	 
 	 	 	2.577.952	 	 	 
	5.71
	 
	 	 	400	 	 	 	N/A	 	 	[Illegible]	 	 
	USD
50,000	 
 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 
	Partial and
final reports	 
 
	 Unused roads and paths
	 	 
	Río
Neuquen	 
 	 	 	Miscellaneous	 	 	 	2.573.879	 	 	 	5 713.236	 	 	 
	To be
determined	 
 	 	 	NA	 	 	[Illegible]	 	 
	USD
150,000	 
 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 
	Partial and
final reports	 
 
	 Unused Pipes and other Facilities
	 	 
	Río
Neuquen	 
 	 	 	Miscellaneous	 	 	 	2.567.692	 	 	 	5 715 945	 	 	 
	To be
determined	 
 	 	 	NA	 	 	[Illegible]	 	 
	USD
300,000	 
 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 	[Illegible]	 	 	 
	Partial and
final reports	 
 
		 				 				 				 				 				 				 	TOTAL
Area USD	 	 	2,333,850	 	 				 				 				 			

 Secretariat of Energy 

RN—Río Negro Government 

EXHIBIT C 
 Environmental
Liabilities Remediation Plan 
 CONCESSIONAIRE: Petrobras Argentina S.A. 

CONCESSION AREA: Jagüel de los Machos 
  

																																							
	 	 	 LOCATION
	 	 	LIABILITY SIZE	 	 	 	 	 	 	 	 	PERFORMANCE TERM	 	 	 
	 ENVIRONMENTAL
LIABILITY
	 	 FIELD
	 	SECTOR—
AREA—
FACILITY	 	 	[Illegible]
COORDINATES	 	 	  
	 	 	AFFECTED
AREA	 	 	AFFECTED
VOLUME	 	 	REMEDIATION
METHODOLOGY	 	INVESTMENT
AMOUNT IN
USD	 	 STAGES
	 	START	 	 	END	 	 	 CONTROL

AND
MONITORING

TYPE

	 	 	 	 	 	 	 	X	 	 	Y	 	 	m2	 	 	m3	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Oil-spilled land
	 	Jagüel de los Machos	 	 
	[Illegible]
Well	 
 	 	 	2 606 916	 	 	 	5.779.379	 	 	 	61	 	 	 	17.8	 	 	[Illegible]	 	USD
10,177	 	Removal and Treatment	 	 	[Illegible]	 	 	 	[Illegible]	 	 	Partial and final reports
	 Oil-spilled land
	 	Jagüel de los Machos	 	 	1020 Well	 	 	 	2.605 529	 	 	 	5.774 568	 	 	 	46	 	 	 	14.3	 	 	[Illegible]	 	USD
8,176	 	Removal and Treatment	 	 	[Illegible]	 	 	 	[Illegible]	 	 	Partial and final reports
	 Oil-spilled land
	 	Jagüel de los Machos	 	 
	[Illegible]
Well	 
 	 	 	2 607.347	 	 	 	5 774 810	 	 	 	31	 	 	 	19.4	 	 	[Illegible]	 	USD
11,092	 	Removal and Treatment	 	 	[Illegible]	 	 	 	[Illegible]	 	 	Partial and final reports
	 Pools Monitoring
	 	Jagüel de los Machos	 	 

	Sanitation of
20 pools in
1994-95	 
 
 	 	 	2.606.083	 	 	 	5.780.722	 	 	 	24,000	 	 	 	0.0	 	 	[Illegible]	 	USD
13,000	 	Monitoring	 	 	[Illegible]	 	 	 	[Illegible]	 	 	Partial and final reports
	 Unused Pipes and other Facilities
	 	Jagüel de los Machos	 	 	Miscellaneous	 	 	 	2.606.083	 	 	 	5.780.722	 	 	 
	To be
determined	 
 	 	 	NA	 	 	[Illegible]	 	USD
350,000	 	[Illegible]	 	 	[Illegible]	 	 	 	[Illegible]	 	 	Partial and final reports
		 		 				 				 				 				 				 	TOTAL
Area USD	 	292,446	 		 				 				 	

 Secretariat of Energy 

RN - Río Negro Government 

EXHIBIT C 
 Environmental
Liabilities Remediation Plan 
 CONCESSIONAIRE: Petrobras Argentina S.A. 

CONCESSION AREA: 25 de Mayo - Medanito 
  

																																	
	 	 	LOCATION	 	 	LIABILITY SIZE	 	 	 	 	 	 	 	 	PERFORMANCE
TERM	 	 
	 ENVIRONMENTAL
LIABILITY
	 	FIELD	 	SECTOR -
AREA -
FACILITY	 	[Illegible]
COORDINATES	 	 	AFFECTED
AREA	 	 	AFFECTED
VOLUME	 	 	REMEDIATION
METHODOLOGY	 	INVESTMENT
AMOUNT IN
USD	 	STAGES	 	START	 	END	 	CONTROL AND
MONITORING TYPE
	 	 	 	 	 	 	X	 	 	Y	 	 	m2	 	 	m3	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	Battery
BAT-10	 	 	2 601 493	 	 	 	5 785.410	 	 	 	1.765	 	 	 	6 648.0	 	 	[Illegible]	 	USD
3,801,094	 	Removal
and
Treatment
[Illegible]	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	Battery
BAT-10	 	 	2 601 493	 	 	 	5.785 410	 	 	 	635	 	 	 	2392.0	 	 	[Illegible]	 	USD 1
367 662	 	Removal
and
Treatment
[Illegible]	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	Battery
BAT-11	 	 	2 605 091	 	 	 	5 784 044	 	 	 	305	 	 	 	62.3	 	 	[Illegible]	 	USD 35
621	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	Battery
BAT-14	 	 	2 597.739	 	 	 	5.798.801	 	 	 	1.474	 	 	 	158,0	 	 	[Illegible]	 	USD 90
339	 	Removal
and
Treatment
[	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	Battery
BAT-15	 	 	2.595.957	 	 	 	5 794 570	 	 	 	1.050	 	 	 	175.1	 	 	[Illegible]	 	USD 100
116	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	Battery
BAT-15	 	 	2.595 957	 	 	 	5 794 570	 	 	 	11	 	 	 	24,2	 	 	[Illegible]	 	USD 13
837	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	[Illegible]
Well	 	 	2.603.799	 	 	 	5.785 959	 	 	 	79	 	 	 	94.2	 	 	[Illegible]	 	USD 53
860	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	[Illegible]
Well	 	 	2.603.018	 	 	 	5.783 915	 	 	 	216	 	 	 	42.1	 	 	[Illegible]	 	USD
24.071	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	[Illegible]
Well	 	 	2 603 764	 	 	 	5 785.249	 	 	 	12	 	 	 	20.0	 	 	[Illegible]	 	USD -	 	Removal
and
 Treatment[Illegible]
	 	[Illegible]	 	Completed	 	[Illegible]
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	[Illegible]
Well	 	 	2.601 457	 	 	 	5 786 088	 	 	 	471	 	 	 	47.1	 	 	[Illegible]	 	USD
26.930	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	[Illegible]
Well	 	 	2 599 607	 	 	 	5 788.220	 	 	 	1 251	 	 	 	1.760.0	 	 	[Illegible]	 	USD -	 	Removal
and
 Treatment[Illegible]
	 	[Illegible]	 	Completed	 	Note
[Illegible]
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE	 	[Illegible]
Well	 	 	2 599.580	 	 	 	5 789 020	 	 	 	50	 	 	 	9.8	 	 	[Illegible]	 	USD 5
603	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports
	 Oil-spilled land
	 	25 de Mayo
- Medanito
SE    	 	[Illegible]
Well	 	 	2.602.404	 	 	 	5 785 965	 	 	 	219	 	 	 	86.8	 	 	[Illegible]	 	USD 49
629	 	Removal
and
Treatment	 	[Illegible]	 	[Illegible]	 	Partial
and final
reports

																																	
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM-1112
Well	 	 	2 594.493	 	 	 	5.795 542	 	 	 	200	 	 	 	195.0	 	 	[Illegible]	 	USD
111.494	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM-1113
Well	 	 	2.594.405	 	 	 	5 794 799	 	 	 	94	 	 	 	141.3	 	 	[Illegible]	 	USD 80
790	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]
Well	 	 	2 603 088	 	 	 	5 785 291	 	 	 	400	 	 	 	160.0	 	 	[Illegible]	 	USD -	 	Removal and Treatment [Illegible]	 	[Illegible]	 	Completed	 	Note [Illegible]
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]
Well	 	 	2 596.972	 	 	 	5.790 484	 	 	 	220	 	 	 	45.5	 	 	[Illegible]	 	USD
26.015	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]
Well	 	 	2 596 606	 	 	 	5 789 955	 	 	 	12	 	 	 	3.5	 	 	[Illegible]	 	USD
2,001	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]
Well	 	 	2.596.608	 	 	 	5 789 389	 	 	 	72	 	 	 	21.1	 	 	[Illegible]	 	USD
12,064	 	[Illegible]	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM-1477
Well	 	 	2.596.973	 	 	 	5.791.349	 	 	 	315	 	 	 	51.2	 	 	[Illegible]	 	USD
29,274	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM
[Illegible]
Well	 	 	2.595 795	 	 	 	5 791 985	 	 	 	16	 	 	 	`7.9	 	 	[Illegible]	 	USD
4,517	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM-241
Well	 	 	[Illegible	] 	 	 	5 789 929	 	 	 	61	 	 	 	61.2	 	 	[Illegible]	 	USD
34,992	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 243
Well	 	 	2 595 171	 	 	 	5 791 926	 	 	 	55	 	 	 	82.4	 	 	[Illegible]	 	USD
47.113	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 301
Well	 	 	2 601 392	 	 	 	5 786.455	 	 	 	97	 	 	 	10.6	 	 	[Illegible]	 	USD
6.061	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 310
Well	 	 	2 603 435	 	 	 	5 785 630	 	 	 	43	 	 	 	60.0	 	 	[Illegible]	 	USD -	 	 Removal and Treatment

[Illegible]
	 	[Illegible]	 	[Illegible]	 	Note [Illegible]
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM
[Illegible]
Well	 	 	[Illegible	] 	 	 	5 784 516	 	 	 	1311	 	 	 	655.5	 	 	[Illegible]	 	USD 374
792	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 321
Well	 	 	[Illegible	] 	 	 	5 784.227	 	 	 	3.800	 	 	 	1,780.0	 	 	[Illegible]	 	USD -	 	 Removal and Treatment

[Illegible]
	 	[Illegible]	 	[Illegible]	 	Note [Illegible]
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 365
Well	 	 	2.600.672	 	 	 	[Illegible	] 	 	 	314	 	 	 	157.0	 	 	[Illegible]	 	USD
80,767	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM
[Illegible]
Well	 	 	[Illegible	] 	 	 	[Illegible	] 	 	 	[Illegible	] 	 	 	[Illegible	] 	 	[Illegible]	 	USD -	 	 Removal and Treatment

[Illegible]
	 	[Illegible]	 	[Illegible]	 	Note [Illegible]

																																	
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 413
Well	 	 	2 600 057	 	 	 	5 787 871	 	 	 	152	 	 	 	151.5	 	 	[Illegible]	 	USD 86
622	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 415
Well	 	 	2 600.059	 	 	 	5 787 282	 	 	 	67	 	 	 	16.1	 	 	[Illegible]	 	USD
9,205	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 416
Well	 	 	2 598 698	 	 	 	5.788 020	 	 	 	630	 	 	 	560.0	 	 	[Illegible]	 	USD -	 	 Removal and Treatment

[Illegible]
	 	[Illegible]	 	Completed	 	Note [Illegible]
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	EM- 659
Well	 	 	2 598 587	 	 	 	5.790 934	 	 	 	20	 	 	 	9.8	 	 	[Illegible]	 	USD
5,603	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	Pipeline -
BAT-15	 	 	2 596 684	 	 	 	5 791 397	 	 	 	1.178	 	 	 	683.0	 	 	[Illegible]	 	USD
390,515	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]
EM-1017-
1185	 	 	2 600.373	 	 	 	5 787.167	 	 	 	2	 	 	 	1.6	 	 	[Illegible]	 	USD 915	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible] RN
 EM-1022 to
Satellite

(new)
	 	 	2.601.912	 	 	 	5 785.994	 	 	 	126	 	 	 	276.3	 	 	[Illegible]	 	USD
157.979	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]	 	 	2 605 155	 	 	 	5 784.243	 	 	 	4.194	 	 	 	1.360,0	 	 	[Illegible]	 	USD -	 	 Removal and Treatment

[Illegible]
	 	[Illegible]	 	Completed	 	Note [Illegible]
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]
EM-1089 to
1176	 	 	2 605 669	 	 	 	5 782.648	 	 	 	31	 	 	 	15.7	 	 	[Illegible]	 	USD
8,977	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	Varios RN
EM- 1000	 	 	2 600 139	 	 	 	5 788.403	 	 	 	314	 	 	 	157.0	 	 	[Illegible]	 	USD
[Illegible]	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]	 	 	259.905	 	 	 	5 787 584	 	 	 	39	 	 	 	39.3	 	 	[Illegible]	 	USD
22,470	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]	 	 	2600391	 	 	 	5.787 167	 	 	 	8	 	 	 	3.9	 	 	[Illegible]	 	USD
2,230	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]	 	 	2 597.735	 	 	 	5 788 976	 	 	 	94	 	 	 	75.4	 	 	[Illegible]	 	USD
43,131	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible]	 	 	2.602.142	 	 	 	5 785 380	 	 	 	5 293	 	 	 	2 180.0	 	 	[Illegible]	 	USD -	 	 Removal and Treatment

[Illegible]
	 	[Illegible]	 	Completed	 	Note [Illegible]
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible] RN
EM- 307 to
1022	 	 	2 601 314	 	 	 	5 785 901	 	 	 	471	 	 	 	94.2	 	 	[Illegible]	 	USD
53,860	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	[Illegible] RN
EM- 415 to
1107	 	 	2.599.830	 	 	 	5 787 230	 	 	 	7 400	 	 	 	3 780.0	 	 	[Illegible]	 	USD -	 	 Removal and Treatment

[Illegible]
	 	[Illegible]	 	Completed	 	Note [Illegible]

																																			
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	 

	[Illegible] EM
Access to
B15	 
 
 	 	 	2 596.624	 	 	 	5.791.531	 	 	 	4	 	 	 	2.0	 	 	[Illegible]	 	USD
1,144	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	 

	[Illegible] EM
Wells 1181
and 335	 
 
 	 	 	2.603 463	 	 	 	5.782.344	 	 	 	196	 	 	 	196.3	 	 	[Illegible]	 	USD
112,237	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Oil-spilled land
	 	25 de Mayo - Medanito SE	 	 	[Illegible]	 	 	 	2 600 049	 	 	 	5 787 948	 	 	 	63	 	 	 	62.8	 	 	[Illegible]	 	USD
35,907	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Pools Monitoring
	 	25 de Mayo - Medanito SE	 	 

 
	Sanitation of
181 pools in
1993-
 [Illegible]
	 
 
 
  
	 	 	2 596 040	 	 	 	5 787.430	 	 	 	217.200	 	 	 	0.0	 	 	[Illegible]	 	USD
115,000	 	Monitoring	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Repository
	 	25 de Mayo - Medanito SE	 	 
	RN- 1188
Repository	 
 	 	 	2 598 509	 	 	 	5 787.926	 	 	 	10.000	 	 	 	10,000.0	 	 	[Illegible]	 	USD
2,744,658	 	 Removal and Treatment

[Illegible]
 Removal and
Treatment
	 	[Illegible]	 	Completed
 [Illegible]
	 	Note [Illegible]
	 Repository
	 	25 de Mayo - Medanito SE	 	 
 
	Repository
 Solid Waste
	 
  
	 	 	2 597.416	 	 	 	5 790 609	 	 	 	5.000	 	 	 	7,500.0	 	 	[Illegible]	 	USD
1,150,000	 	Removal and Treatment	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Unused Facilities
	 	25 de Mayo - Medanito SE	 	 
	Unused
Piping	 
 	 	 	2.601.493	 	 	 	5.785 410	 	 	 
	To be
determined	 
 	 	 	0.0	 	 	[Illegible]	 	USD
461,000	 	[Illegible]	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Unused Facilities
	 	25 de Mayo - Medanito SE	 	 	Miscellaneous	 	 	 	2.597.260	 	 	 	5.791 046	 	 	 
	To be
determined	 
 	 	 	0.0	 	 	[Illegible]	 	USD 350
000	 	[Illegible]	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Unused roads and paths
	 	25 de Mayo - Medanito SE	 	 	Miscellaneous	 	 	 	2.605 091	 	 	 	5 784.044	 	 	 
	To be
determined	 
 	 	 	N/A	 	 	[Illegible]	 	USD 410
000	 	 [Illegible]

[Illegible] and Restoration
	 	[Illegible]	 	[Illegible]	 	Partial and final reports
	 Waste
	 	25 de Mayo - Medanito SE	 	 	Miscellaneous	 	 	 	2.597.416	 	 	 	5 790 609	 	 	 	N/A	 	 	 
	To be
determined	 
 	 	[Illegible]	 	USD 96
000	 	Recovery and disposal	 	[Illegible]	 	[Illegible]	 	-
		 		 				 				 				 				 				 	TOTAL
Area USD	 	12,734,846	 		 		 		 	

 Exhibit D 

FACILITIES’ ADJUSTMENT PROGRAM 

(TABLE OF CONTENTS) 
  

							
	 Non-conformities / Objections
/
Improvement Opportunities
	  	Date
(DD/MM/YYYY)	  	 Equipment / Facility / Event
	  	Performance Commitment
Date
(DD/MM/YY)
	
PESA-OM-01
	  	03/09/2013	  	EQUIPMENT / FACILITY / EVENT: PERSONNEL TRAINING	  	28/02/14
	
PESA-ME-OM01
	  	03/09/2013	  	EQUIPMENT / FACILITY / EVENT: BATTERY 12	  	10/11/13
	
PESA-ME-OM02
	  	03/09/2013	  	EQUIPMENT / FACILITY / EVENT: BATTERY 12	  	05/11/13
	
PESA-ME-OM03
	  	03/09/2014	  	EQUIPMENT / FACILITY / EVENT: Submit plan to remove all the facilities and [Illegible]	  	31/12/2014
	
PESA-ME-OM04
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: Oil-spilled Land Remediation	  	31/12/18
	
PESA-ME-0M05
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: Oil-spilled Land Remediation	  	31/12/17
	
PESA-ME-OM06
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: SURROUNDING FENCE AT INJECTION WELLS	  	31/03/14
	
PESA-ME-OM07
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: INJECTION WELLS’ FLOWMETERS	  	31/12/16
	
PESA-ME-OM08
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: OIL WELLS SURROUNDING FENCE	  	31/12/16
	 PESA-RNQN-OM01
	  	10/09/2013	  	EQUIPMENT / FACILITY / EVENT: Battery 7	  	30/06/14
	 PESA-RNQN-OM02
	  	10/09/2013	  	EQUIPMENT / FACILITY / EVENT: Battery 7	  	05/11/13
	 PESA-RNQN-OM03
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: WELLS	  	31/12/17
	 PESA-RNQN-OM04
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: SURROUNDING FENCE AT INJECTION WELLS	  	05/11/13
	 PESA-RNQN-OM05
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: OIL WELLS SURROUNDING FENCE	  	31/12/16
	
PESA-JDM-OM01
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: SURROUNDING FENCES	  	31/03/14
	
PESA-JDM-OM02
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: Oil Wells Signage	  	31/03/14
	
PESA-JDM-O01
	  	14/08/2013	  	EQUIPMENT / FACILITY / EVENT: Battery 17	  	31/03/14
	
PESA-JDM-O02
	  	14/08/2013	  	EQUIPMENT / FACILITY / EVENT: Battery 17	  	31/03/14
	
PESA-JDM-O03
	  	01/10/2013	  	EQUIPMENT / FACILITY / EVENT: SURROUNDING FENCES CONSTRUCTION	  	05/11/13
	
PESA-ME-O01
	  	27/08/2013	  	EQUIPMENT / FACILITY / EVENT: Battery 11	  	17/10/13
	
PESA-ME-O02
	  	03/09/2013	  	EQUIPMENT / FACILITY / EVENT: Battery 12	  	31/10/13
	
PESA-ME-O03
	  	27/08/2013	  	EQUIPMENT / FACILITY / EVENT: Battery 15	  	15/11/13
	
PESA-ME-O04
	  	21/08/2013	  	EQUIPMENT / FACILITY / EVENT: PTC Medanito	  	31/12/2013
	
PESA-ME-O05
	  	21/08/2013	  	EQUIPMENT / FACILITY / EVENT: PTC Medanito	  	31/12/2013
	
PESA-ME-O06
	  	21/08/2013	  	EQUIPMENT / FACILITY / EVENT: PTC Medanito – [Illegible]	  	05/11/2013
	
PESA-ME-O07
	  	21/08/2013	  	EQUIPMENT / FACILITY / EVENT: PTC Medanito – [Illegible]	  	05/11/2013
	
PESA-ME-O08
	  	21/08/2013	  	EQUIPMENT / FACILITY / EVENT: PTC Medanito	  	31/10/2013

							
	
PESA-ME-O09
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	31/10/2013
	
PESA-ME-O10
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	31/10/2013
	
PESA-ME-O11
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	31/10/2013
	
PESA-ME-O12
	  	27/09/2013	  	 EQUIPMENT / FACILITY / EVENT: PMP RN 435 (ID 1744)
	  	05/11/2013
	
PESA-ME-O13
	  	27/09/2013	  	 EQUIPMENT / FACILITY / EVENT: WELLS ABANDONMENT PRIORITY (RESOLUTION [Illegible])
	  	31/12/2015
	 PESA-RNQN-O01
	  	27/09/2013	  	 EQUIPMENT / FACILITY / EVENT: FISCAL MEASUREMENT POINTS
	  	31/12/2015
	 PESA-RNQN-O02
	  	01/10/2013	  	 EQUIPMENT / FACILITY / EVENT: REQUEST FOR INFORMATION
	  	18/10/2013
	
PESA-JDM-NC01
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 17
	  	31/12/2013 –
31/3/2014
	
PESA-JDM-NC02
	  	27/08/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery 17
	  	31/07/2015
	
PESA-JDM-NC03
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 17
	  	31/12/2013
	
PESA-JDM-NC04
	  	27/08/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery 17
	  	30/06/2015
	
PESA-JDM-NC05
	  	27/08/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery 21
	  	30/06/2015
	
PESA-JDM-NC06
	  	27/08/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery 22
	  	31/12/2015
	
PESA-JDM-NC07
	  	14/08/2013	  	 EQUIPMENT / FACILITY / EVENT: ROADS
	  	31/07/2014
	
PESA-JDM-NC08
	  	01/10/2013	  	 EQUIPMENT / FACILITY / EVENT: PC RN TA-1065
	  	31/12/2014
	
PESA-JDM-NC09
	  	01/10/2014	  	 EQUIPMENT / FACILITY / EVENT: [Illegible] RN
TA-1072
	  	30/11/2013
	
PESA-JDM-NC10
	  	01/10/2013	  	 EQUIPMENT / FACILITY / EVENT: YPF RN TA [Illegible]
	  	30/06/2015
	
PESA-ME-NC01
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 10
	  	31/12/2013
	
PESA-ME-NC02
	  	27/08/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery 11
	  	30/06/2015
	
PESA-ME-NC03
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 11
	  	31/12/2013 –
30/4/2014
	
PESA-ME-NC04
	  	27/08/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery 12
	  	30/06/2015
	
PESA-ME-NC05
	  	03/09/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 12
	  	31/12/2013
	
PESA-ME-NC06
	  	27/08/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery 12
	  	30/06/2015
	
PESA-ME-NC07
	  	03/09/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 12
	  	31/12/2013
	
PESA-ME-NC08
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 12
	  	30/06/2014
	
PESA-ME-NC09
	  	27/08/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery 14
	  	05/11/2013
	
PESA-ME-NC10
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 14
	  	31/12/2015
	
PESA-ME-NC11
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 14
	  	31/12/13
	
PESA-ME-NC12
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 15
	  	30/06/15
	
PESA-ME-NC13
	  	27/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery 15
	  	31/12/13
	
PESA-ME-NC14
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	05/11/2013
	
PESA-ME-NC15
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	31/12/2015
	
PESA-ME-NC16
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	31/12/2013
	
PESA-ME-NC17
	  	21/08/2014	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	30/06/2014
	
PESA-ME-NC18
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	31/12/2013
	
PESA-ME-NC19
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	31/12/2013
	
PESA-ME-NC20
	  	21/08/2014	  	 EQUIPMENT / FACILITY / EVENT: La Pampa Gas Pipeline Compressor    
	  	04/11/2013

							
	
PESA-ME-NC21
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: PTC Medanito
	  	04/11/2013
	
PESA-ME-NC22
	  	21/08/2013	  	 EQUIPMENT / FACILITY / EVENT: Plants PUMPS
	  	31/12/2013
	
PESA-ME-NC23
	  	01/10/2014	  	 EQUIPMENT / FACILITY / EVENT: Wells Oil-spilled
land
	  	31/12/2016
	
PESA-ME-NC24
	  	01/10/2014	  	 EQUIPMENT / FACILITY / EVENT: Wells Cathodic Protection equipment
	  	31/12/2014 –
30/6/2016
	
PESA-ME-NC25
	  	01/10/2013	  	 EQUIPMENT / FACILITY / EVENT: Wells Unused Piping at location
	  	31/12/2014
	
PESA-ME-NC26
	  	01/10/2014	  	 EQUIPMENT / FACILITY / EVENT: Abandonment Schedule Submission
	  	31/01/2014
	
PESA-ME-NC27
	  	01/10/2013	  	 EQUIPMENT / FACILITY / EVENT: INJECTION WELL – FLOWMETER MAINTENANCE
	  	31/12/2016
	 PESA-RNQN-NC01
	  	10/09/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery No. 2
	  	05/11/2013
	 PESA-RNQN-NC02
	  	10/09/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery No. 2
	  	30/10/2013
	 PESA-RNQN-NC03
	  	10/09/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery No. 2
	  	30/06/2015
	 PESA-RNQN-NC04
	  	10/09/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery No. 2
	  	31/12/2015
	 PESA-RNQN-NC05
	  	10/09/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery No. 2
	  	31/12/2013
	 PESA-RNQN-NC06
	  	10/09/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery No. 2
	  	30/06/2015
	 PESA-RNQN-NC07
	  	10/09/2014	  	 EQUIPMENT / FACILITY / EVENT: Battery No. 4
	  	31/12/2014
	 PESA-RNQN-NC08
	  	10/09/2013	  	 EQUIPMENT / FACILITY / EVENT: PIPING – PIPELINES
	  	31/12/2016
	 PESA-RNQN-NC09
	  	10/09/2013	  	 EQUIPMENT / FACILITY / EVENT: Battery No. 9
	  	30/06/2014
	 PESA-RNQN-NC10
	  	01/10/2013	  	 EQUIPMENT / FACILITY / EVENT: WELLHEAD SPILLS
	  	31/12/2013
	 PESA-RNQN-NC11
	  	01/10/2013	  	 EQUIPMENT / FACILITY / EVENT: WELLHEAD SPILLS
	  	31/12/2015
	 PESA-RNQN-NC12
	  	01/10/2013	  	 EQUIPMENT / FACILITY / EVENT: LACK OF SURROUNDING FENCE
	  	31/12/2014
	 PESA-RNQN-NC13
	  	01/10/2014	  	 EQUIPMENT / FACILITY / EVENT: Abandonment Schedule Submission
	  	31/01/2014

 Exhibit E 

CONCESSIONS’ MAPS AND COORDINATESEX-10.9

 Exhibit 10.9 

Execution Version 
 Certain identified
information has been excluded from the exhibit because it is both not material and would likely cause competitive harm to the registrant if publicly disclosed. The excluded information is indicated by inserting the caption “[REDACTED]”
where such information is omitted. 
  
  

 
 STRATEGIC PARTNERS AGREEMENT 

by and between 
 Vista Sponsor
Holdings, L.P., 
 and 
 Miguel
Galuccio, Pablo Vera Pinto, Juan Garoby and Alejandro Cherñacov 
 in their capacity as Sponsors 

and 
 Vista Oil and Gas,
S.A.B. de C.V. 
 with the participation of Vista Management International Company Limited 

Dated as of August 1, 2017 
  

 
  

 

 STRATEGIC PARTNERS AGREEMENT 

This STRATEGIC PARTNERS AGREEMENT (this “Agreement”) is entered into on August 1, 2017 by and among: 

 

	 	(A)	 Vista Sponsor Holdings, L.P. (“Riverstone Sponsor”) a limited partnership duly organized and
validly existing under the laws of Ontario, Canada; 

  

	 	(B)	 Miguel Galuccio (“MG”), Pablo Vera Pinto (“PV”), Juan Garoby
(“JG”) and Alejandro Cherñacov (“AC”), and collectively with MG, PV and JG the “Management Sponsors” and together with Riverstone Sponsor, the “Sponsors”); and

  

	 	(C)	 Vista Oil and Gas, S.A.B. de C.V. (the “Company”) a publicly traded company (sociedad
anónima bursátil de capital variable) duly organized and validly existing under the laws of Mexico. 

 with the
participation of Vista Management International Company Limited (“Management Sponsors Entity”) a limited company duly organized and validly existing under the laws of the British Virgin Islands. 

This Agreement is subject to the following Recitals and Clauses: 

RECITALS 
 I.
WHEREAS, as of the date of execution of this Agreement, the Sponsors own, collectively, 16,368,000 Series B Shares (as defined below) issued by the Company, which represent 99.2% of all Series B Shares issued by the Company as of the date
hereof, in exchange of which the Sponsors have contributed a total of USD$25,000, corresponding to the sum of USD$[REDACTED] contributed by Riverstone Sponsor and USD$[REDACTED] contributed by Management Sponsor. 

II. WHEREAS, on July 28, 2017, the shareholders of the Company adopted the resolutions attached hereto as Exhibit
“A” (the “Shareholders’ Resolutions”) in which they approved, among other things, the issuance of Series A Shares (as defined below), the issuance of the Warrants (as defined below), the Global Offering (as
defined below), and the execution of this Agreement. 
 NOW, THEREFORE, for and in consideration of the mutual covenants and agreements
contained herein, and with the intent of the parties to be legally bound, the parties hereto agree as follows: 

  
 -2- 

 CLAUSES 

ARTICLE I 
 DEFINITIONS 

SECTION 1.01. Definition of Certain Terms. The following terms shall have the respective meaning indicated below: 

“AC” shall have the meaning set forth in the preamble to this Agreement. 

“Agreement” shall mean this Strategic Partners Agreement. 

“BMV” means the Bolsa Mexicana de Valores, S.A.B. de C.V. 

“By-laws of the Company” shall mean the
by-laws (estatutos sociales) of the Company as amended from time to time. 
 “Closing
Price” has the meaning ascribed to such term in the Internal Regulation. 
 “CNBV” means the Comisión
Nacional Bancaria y de Valores. 
 “Common Representative” shall have the definition assigned to such term in the Mexican
prospectus related to the Mexican Public Offering. 
 “Company” shall have the meaning set forth in the preamble to this
Agreement. 
 “Dollars” or “USD$” means dollars, the legal currency of the United States of America. 

“Escrow Account” means the U.K.-based escrow account into which the proceeds of the Global Offering, once converted into U.S.
dollars as necessary, and certain proceeds from the private placement of the Sponsor Warrants shall be held in deposit. 
 “Forward
Purchase Agreement” means the forward purchase agreement entered into by the Company and Riverstone Vista Capital Partners, L.P., an affiliate of Riverstone Sponsor, by means of which Riverstone Vista Capital Partners, L.P. has agreed to
buy Series A Shares and Series A Warrants pursuant to the terms and conditions set forth therein. 
 “Global Offering” or
“Offering” means the Mexican Public Offering and the International Offering, together. 
 “Indeval” means
S.D. Indeval Institución para el Depósito de Valores, S.A. de C.V. 

  
 -3- 

 “Initial Business Combination” means any merger, asset acquisition, stock
purchase, share exchange, participation or interest purchase, reorganization or other similar business combination with one or more businesses of all type of commercial or civil corporation, associations, companies, trusts or any other entities,
carried out by the Company. 
 “Initial Business Combination Closing Date” means the date on which the Initial Business
Combination becomes effective, which may be the same date on which all agreements regarding such Initial Business Combination are executed or, in the event that such agreements included conditions precedent or other similar provision, the date on
which the last of such conditions has been satisfied or waived, or in which the parties agreed that such Initial Business Combination will be in force, pursuant to the terms of the relevant agreement, as announced, as the case may be, by the Company
through EMISNET 
 “Internal Regulation” means the regulation issued by the BMV duly authorized by CNBV on
September 27, 1999, through official notice number 601-I-CGN-78755/99, including its amendments or any regulation that may
replace it. 
 “International Offering” means the offering of Series A Shares and Warrants to (i) certain qualified
institutional buyers (as defined in Rule 144A) in the United States and (ii) institutional and other investors outside the United States and Mexico that are not U.S. persons (as defined in Regulation S), pursuant to exemptions from registration
under the U.S. Securities Act of 1933. 
 “JG” shall have the meaning set forth in the preamble to this Agreement. 

“Management Sponsors” shall have the meaning set forth in the preamble to this Agreement. 

“Management Sponsors Entity” shall have the meaning set forth in the preamble to this Agreement. 

“Management Sponsor Warrants Contribution” shall have the meaning set forth in Section 3.01(a)(iii) hereof. 

“Mexican Public Offering” means the public offering of Series A Shares and Warrants in Mexico to the general public. 

“MG” shall have the meaning set forth in the preamble to this Agreement. 

“Permitted Transferee” has the meaning set forth in Section 7.03 hereof. 

“PV” shall have the meaning set forth in the preamble to this Agreement. 

  
 -4- 

 “Riverstone Sponsor” shall have the meaning set forth in the preamble to
this Agreement. 
 “Riverstone Sponsor Warrants Contribution” means (a) USD$[REDACTED], plus (b) an amount
equal to (x) [REDACTED]% of the gross proceeds of the Global Offering, plus (y) [REDACTED]% of the commission payable to the Underwriters at the closing of the Global Offering pursuant to the Underwriting Agreement, minus (c) the
Management Sponsor Warrants Contribution. 
 “RNV” means the Mexican National Registry of Securities (Registro Nacional
de Valores) 
 “Securities Market Law” or “LMV” means the Ley del Mercado de Valores of Mexico, as
amended from time to time. 
 “Series A Shares” means the Series “A”, ordinary, nominative, no par value shares,
representing the variable portion of the capital stock of the Company, registered in the Mexican National Registry of Securities (Registro Nacional de Valores) RNV of CNBV and listed in the BMV. 

“Series A Warrants” means warrants to purchase one-third of a Series A Share to be
issued by the Company under the Warrant Indenture and which are offered in the Global Offering or are kept in treasury of the Company to be delivered (i) in accordance with the Forward Purchase Agreement or (ii) pursuant to the
Shareholders Resolutions. 
 “Series B Shares” means the series “B” ordinary shares, nominative, with no par
value, representing the variable portion of the capital stock of the Company, which are convertible into Series A Shares. 

“Specified Future Issuance” has the meaning set forth in Section 4.02(a) hereof. 

“Sponsor Warrants” has the meaning set forth in Section 3.01 hereof. 

“Sponsors” shall have the meaning set forth in the preamble to this Agreement. 

“Trading Day” means each day on which the Series A Shares were or could have been negotiated in the BMV. 

“Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any
option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position, any security,
(b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or
otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b). 

  
 -5- 

 “Underwriters” means Credit Suisse Securities (USA) LLC, Citigroup Global
Markets Inc, Casa de Bolsa Credit Suisse (México), S.A. de C.V., Grupo Financiero Credit Suisse (México) and Acciones y Valores Banamex, S.A. de C.V., Casa de Bolsa, integrante del Grupo Financiero Banamex, in their capacity as initial
purchasers of the International Offering and underwriters of the Mexican Public Offering, as applicable. 
 “Underwriting
Agreement” means the agreement entered into by and among Casa de Bolsa Credit Suisse (México), S.A. de C.V., Grupo Financiero Credit Suisse (México) and Acciones y Valores Banamex, S.A. de C.V., Casa de Bolsa, integrante del
Grupo Financiero Banamex, on the one side, and the Company, on the other side, setting forth the terms under which such entities will act as underwriters of the Mexican Public Offering. 

“USD$ Closing Price” means, for any Trading Day, the Dollar equivalent of the Closing Price for such Trading Day, which shall
be determined applying the fix exchange rate (tipo de cambio fix) published by Banco de México on its webpage, with effect on such Trading Day. 

“Warrant Indenture” means the warrant issuance indenture pursuant to which the Company will issue the Series A Warrants and
the Sponsor Warrants. 
 ARTICLE II 

REPRESENTATIONS AND WARRANTIES 

SECTION 2.01. Representations and Warranties of the Company. The Company hereby represents and warrants to each of the Sponsors: 

(a) Organization and Execution. The Company is a sociedad anónima bursátil de capital variable duly organized and
validly existing under the laws of Mexico. The Company has all requisite corporate power and authority to execute and deliver this Agreement, to carry out the provisions hereof and to perform its obligations hereunder. 

(b) Representative’s Authority. The Company’s legal representative has the necessary power and authority to execute and
deliver this Agreement on its behalf, which powers and authorities have not been modified, limited or revoked in any manner. 
 SECTION
2.02. Representations and Warranties of Riverstone Sponsor. Riverstone Sponsor hereby represents and warrants to the Company and the Management Sponsors as follows: 

(a) Organization and Execution. The Riverstone Sponsor is a limited partnership duly organized and validly existing under the laws of
Ontario, Canada. The Riverstone Sponsor has all requisite corporate power and authority to execute and deliver this Agreement, to carry out the provisions hereof and to perform its obligations hereunder 

  
 -6- 

 (b) Representative’s Authority. The Riverstone Sponsor’s legal
representative has the necessary power and authority to execute and deliver this Agreement on its behalf, which powers and authorities have not been modified, limited or revoked in any manner. 

(c) Investment Representations: 

(i) The Riverstone Sponsor understands that the Sponsor Warrants are being offered to it in a private placement that does not constitute a
“public offering” within the meaning set forth in the Mexican Securities Market Law. 
 (ii) The Riverstone Sponsor is a qualified
investor (inversionista calificado) within the meaning of the Mexican Securities Market Law and the regulations in effect as of the date hereof. 

(iii) The Riverstone Sponsor has been furnished with all materials relating to the business, finances and operations of the Company and
materials relating to the offer and sale of the Sponsor Warrants, which have been requested by the Riverstone Sponsor. The Riverstone Sponsor has been afforded the opportunity to ask questions of the executive officers and directors of the Company.
The Riverstone Sponsor understands that its investment in the Series B Shares, the Sponsor Warrants and the Series A Shares related to them involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to the acquisition of such securities. 
 (iv) The Riverstone Sponsor has such
knowledge and experience in financial and business matters, knows of the high degree of risk associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an
investment in the Securities and is able to bear the economic risk of an investment in the Sponsor Warrants in the amount contemplated hereunder for an indefinite period of time. The Riverstone Sponsor has adequate means of providing for its current
financial needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Sponsor Warrants. 

SECTION 2.03. Representations and Warranties of the Management Sponsors. Each Management Sponsor hereby represents and warrants to the
Company and the Riverstone Sponsor, with respect to itself, that: 

  
 -7- 

 (a) Execution and Authority. Such Management Sponsor has the right, power and
capacity to execute this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. 
 (b)
Investment Representations: 
 (i) Such Management Sponsor understands that the Sponsor Warrants are being offered to it in a private
placement that does not constitute a “public offering” within the meaning set forth in the Mexican Securities Market Law. 
 (ii)
Such Management Sponsor is a qualified investor (inversionista calificado) within the meaning of the Mexican Securities Market Law and the regulations in effect as of the date hereof. 

(iii) Such Management Sponsor has been furnished with all materials relating to the business, finances and operations of the Company and
materials relating to the offer and sale of the Sponsor Warrants, which have been requested by such Management Sponsor. Such Management Sponsor has been afforded the opportunity to ask questions of the executive officers and directors of the
Company. Such Management Sponsor understands that its investment in the Series B Shares, the Sponsor Warrants, and the Series A Shares related to them involves a high degree of risk and it has sought such accounting, legal and tax advice as it has
considered necessary to make an informed investment decision with respect to the acquisition of such securities. 
 (iv) Such Management
Sponsor has such knowledge and experience in financial and business matters, knows of the high degree of risk associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the
merits and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Sponsor Warrants in the amount contemplated hereunder for an indefinite period of time. Such Management Sponsor has adequate means of
providing for its current financial needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Sponsor Warrants. 

SECTION 2.04. Representations and Warranties of the Management Sponsors Entity. The Management Sponsors Entity hereby represents and
warrants to each of the Sponsors: 
 (a) Organization and Execution. The Management Sponsors Entity is a limited company duly
organized and validly existing under the laws of the British Virgin Islands. The Management Sponsor Entity has all requisite corporate power and authority to execute and deliver this Agreement, to carry out the provisions hereof and to perform its
obligations hereunder. 

  
 -8- 

 (b) Representative’s Authority. The Management Sponsor Entity’s legal
representative has the necessary power and authority to execute and deliver this Agreement on its behalf, which powers and authorities have not been modified, limited or revoked in any manner. 

ARTICLE III SPONSOR 

WARRANTS 
 SECTION 3.01
Purchase of Sponsor Warrants. (a) On or before the pricing date of the Global Offering, the Company and the Sponsors shall execute a private placement agreement (“Private Placement Agreement”) pursuant to which the
Company shall sell, and the Sponsors shall acquire, warrants to purchase one-third of a Series A Share issued by the Company under the Warrant Indenture (“Sponsor Warrants”), at the price or
prices to be determined by the parties on such Private Placement Agreement, under the following premises: 
  

	 	(i)	 [REDACTED]% of all Sponsor Warrants shall be purchased by the Riverstone Sponsor; 

 

	 	(ii)	 [REDACTED]% of all Sponsor Warrants shall be purchased by the Management Sponsors, and further allocated among
them as provided for in such; 

  

	 	(iii)	 The total consideration to be paid by the Riverstone Sponsor for the Sponsor Warrants it purchases shall be
equal to the Riverstone Sponsor Warrants Contribution, and the total consideration to be paid by the Management Sponsors for the Sponsor Warrants they purchase shall be equal to USD$[REDACTED] (the “Management Sponsor Warrants
Contribution”); and 

  

	 	(iv)	 The purchase price of all Sponsor Warrants sold to the Sponsors shall be paid by wire transfer of immediately
available funds to the Company in accordance with the Company’s wiring instructions on the same date in which Series A Shares are settled (liquidadas) in the BMV. 

(b) The transfer of title of the Sponsor Warrants sold pursuant to the Private Placement Agreement shall occur after the pricing date of the
Global Offering, on the date on which the Series A Shares are registered in the BMV in accordance with the Global Offering, or on such date as may be mutually agreed by the Sponsors and the Company (the “Closing Date”). Once the
aggregate purchase price of all Sponsor Warrants sold to all Sponsors pursuant to the Private Placement Agreement has been paid in full, the Company shall deliver to the relevant Sponsor the related Sponsor Warrants through Indeval, at the account
of an Indeval participant notified in writing by such Sponsor to the Company. 

  
 -9- 

 SECTION 3.02 Exercise of Sponsor Warrants. (a) The parties hereby agree that
each Sponsors and its Permitted Transferee shall have the right to exercise the Sponsor Warrants they own, on a cash basis or on a cashless basis, at its own discretion, regardless if the Company has declared or not that Warrants can only be
exercised on a cashless basis in accordance with Section 9(c) of the Warrant Indenture. 
 (b) If any Sponsor or its Permitted
Transferee elects to exercise its Sponsor Warrants on a cash basis, then they shall follow the mechanism set forth in Sections 13(b) and 13(c) of the Warrant Indenture. If any Sponsor or its Permitted Transferee elects to exercise its Sponsor
Warrants on a cashless basis, then they shall follow the mechanism set forth in Section 13(d) of the Warrant Indenture; provided that (i) the “Exercise Date” (as defined in the Warrant Indenture) may be any “Business
Day” (as defined in the Warrant Indenture) within the “Exercise Period” (as defined in the Warrant Indenture), and (ii) the “US$ Fair Market Price of the Underlying Shares” (as defined in the Warrant Indenture) will be
the average of the “US$ Closing Price” (as defined in the Warrant Indenture) of the Series A Shares of the last 10 Trading Days, commencing on (and including) the Business Day on which the exercise notice is delivered. 

SECTION 3.03 Early Termination of Sponsor Warrants. (a) In the event (i) the Company declares the early termination of the
exercise period of the Warrants in accordance with Section 9(b) of the Warrant Indenture, unless such early termination occurs due to the failure to complete the Initial Business Combination, in which event the Sponsor Warrants shall expire
worthless and there is no exchange, and (ii) any Sponsor Warrants expire without being exercised, then the Company shall issue and deliver to the Sponsor or its Permitted Transferee owning such Sponsor Warrants another security, document,
instrument, or contractual arrangement that is reasonably satisfactory in form and substance to such Sponsor or Permitted Transferee, that gives such Sponsor or Permitted Transferee the right to purchase
one-third of a Series A Share in the same terms and conditions as if such Sponsor Warrants have not expired. 

(b) If the Company issues and delivers to any Sponsor or its Permitted Transferee the securities, documents, instruments or contractual
arrangements set forth in Section 3.03(a) above, the Company shall also issue or keep in its treasury a number of Series A Shares for their further delivery to the Sponsor or its Permitted Transferee, free and clear of any and all preemptive
or similar rights, in the event it exercises its rights in accordance with the terms and conditions set forth in such securities, documents, instruments or contractual arrangements. 

  
 -10- 

 ARTICLE IV 

CONVERSION OF SERIES B SHARES 

SECTION 4.01. Series B Shares as a Percentage of Capital Stock after the consummation of the Global Offering. (a) Assuming
66,000,000 Series A Shares are sold in the Global Offering, the 16,500,000 Series B Shares will represent 20% of all capital stock issued by the Company immediately after the consummation of the Global Offering. 

(b) In the event less than 66,000,000 Series A Shares are sold in the Global Offering, the Sponsors shall have the obligation to deliver to the
Company, for cancellation, such number of Series B Shares as may be necessary so that the remaining Series B Shares represent 20% of all capital stock issued by the Company immediately after the consummation of the Global Offering. The Company shall
carry out all such actions as are necessary or convenient in connection with the cancellation of such Series B Shares, including but not limited to the following: (i) the preparation and registry of all entries in the relevant corporate books
and records of the Company, (ii) the preparation, execution and delivery or exchange of any stock certificates issued by the Company, and (iii) the preparation and delivery of all required notices with the relevant governmental authorities
and regulatory entities and public registries, as the case may be. 
 SECTION 4.02. Conversion Rights and Anti-Dilution Protection.
(a) After the Initial Business Combination Closing Date, the Company shall have the obligation to convert the Series B Shares into Series A Shares on a one for one basis, subject to adjustments for stock splits, share dividends,
reorganizations, recapitalizations or other similar conditions, including the issuance, sale or delivery of additional shares representing the capital stock of the Company or other related securities to fund the Initial Business Combination
(“Specified Future Issuance”); provided that there will not be any adjustment to the conversion of Series B Shares into Series A Shares in connection with the issuance, sale or delivery of Series A Shares and Series A
Warrants under the Forward Purchase Agreement (“Forward Purchase Securities”) and provided further that the holders of more than 88% of the then-outstanding Series B Shares may agree to waive such adjustment with respect to a
Specified Future Issuance. For the avoidance of doubt, to the extent such waivers in connection with a Specified Future Issuance are not granted, then all Sponsors and their Permitted Transferees would retain the right to receive their aggregate
percentage ownership so that the Series B Shares equal 20% of the sum of the total number of all Shares issued and outstanding upon completion of the offering plus all Shares issued in the Specified Future Issuance. For clarity purposes, the
conversion of Series B Shares into Series A Shares in the terms provided in Section 4.02(b) above shall not occur prior to the consummation of the Initial Business Combination. 

(b) To convert their Series B Shares into Series A Shares, the relevant Sponsor must immediately deliver the stock certificates representing
their Series B Shares to the Company, and upon reception thereof, the Company shall deliver to such Sponsor the related Series A Shares through Indeval, at the account notified in writing to Company. 

  
 -11- 

 ARTICLE V 

WAIVERS 
 SECTION 5.01
Escrow Account. (a) The Sponsors acknowledge that, in their capacity as holders of Series B Shares, they have no right, title, interest or claim of any kind in or to any monies held in the Escrow Account or any other asset of the Company
to be used to make reimbursements and payments to holders of Series A Shareholders as provided for in the Shareholders Resolutions, and hereby waive, with respect to any Series B Shares held by it, any rights it may have in connection therewith. For
the avoidance of doubt, this acknowledgement and waiver does not affect any right of the Sponsor could have in their capacity as holders of any Series A Shares. 

(b) In the event any Sponsor transfers money to the Company as advances for future capital increases before the Initial Business Combination
Closing Date and no Initial Business Combination is completed within 24 months from the date on which the Company publishes the Global Offering placement notice (aviso de colocación), then such Sponsor hereby acknowledges that, in its
capacity as grantor of such advances for future capital increases in benefit of the Company, it has no right, title, interest or claim of any kind in or to any monies held in the Escrow Account or any other asset of the Company to be used to make
reimbursements and payments to holders of Series A Shareholders as provided for in the Shareholders Resolutions, and hereby waives, with respect to any such advances for future capital increases, any rights it may have in connection therewith. For
the avoidance of doubt, this acknowledgement and waiver does not affect the right that any Sponsor will have to receive payments of such Escrow Account in their capacity as grantors of advances for future capital increases in benefit of the Company
in the event the Initial Business Combination is completed and after any holders of any Series A Shares so electing are reimbursed and repaid as provided in the Shareholders Resolutions. 

SECTION 5.02 Incorporation of other companies. (a) The Sponsors hereby acknowledge and agree that neither they, nor any of their
affiliates, will participate in the formation or incorporation of any type of special purpose acquisition vehicles that intend to acquire oil and gas companies or assets in Mexico or Latin America, until a definitive agreement in connection with the
Initial Business Combination has been reached or in the event that such Initial Business Combination fails to be completed within the required time frame.     

(b) The Sponsors have agreed not to become, and to cause any director appointed by the Sponsors to the board of the Company not to become, an
officer or director of any other special purpose acquisition vehicles until a definitive agreement in connection with the Initial Business Combination has been reached or in the event that such Initial Business Combination fails to be completed
within the required time frame. 

  
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 ARTICLE VI 

INDEMNITY 
 SECTION 6.01
Indemnity. (a) The Sponsor Indemnitors (as defined below) agree, severally and not jointly (mancomunada pero no solidariamente) and, with respect to each Sponsor Indemnitor, in any event subject to the limitations provided in this
Section 6.01, to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) (“Losses”) to which the Company may become subject as a result of any claim by (i) any third party for services rendered or
products sold to the Company or (ii) a prospective target business with which the Company has entered into an acquisition agreement (a “Target”); provided, however, that such indemnification of the Company by the
Sponsor Indemnitors shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the Company’s independent public accountants) or products sold to the Company or a Target do not reduce
the amount of funds in the Escrow Account to below (i) USD$10 per share of the Series A Shares sold in the Global Offering or (ii) such lesser amount per Series A Shares sold in the Global Offering held in the Escrow Account as of the date
on which such funds are used to make reimbursements and payments to our Series A Shareholders, as provided for in the Shareholders Resolutions, due to reductions in the value of the escrow assets, in each case net of the interest earned on such
funds held in the Escrow Account that may be released to the Company to pay income tax obligations arising after the closing of the Global Offering and to pay working capital (not to exceed USD$750,000 annually for a maximum of 24 months from the
closing of the Global Offering) and up to USD$100,000 of interest to pay dissolution expenses. As used herein, “Sponsor Indemnitor” means either Riverstone Sponsor or Management Sponsors Entity, in either case excluding any
direct or indirect affiliate, shareholder, member or partner of such Sponsor Indemnitor or any of their respective, managers, officers or directors. 

(b) Notwithstanding the foregoing, the obligations of each Sponsor Indemnitor pursuant to the foregoing Section 6.01(a) shall be
apportioned and limited as follows: (i) Riverstone Sponsor will be responsible for [REDACTED]% of the Losses arising from any particular claim, and (ii) Management Sponsors Entity will be responsible for [REDACTED]% of the Losses arising
from such particular claim. In no event will a Sponsor Indemnitor, absent its written consent, be responsible for any Losses other than those apportioned to such Sponsor Indemnitor by the preceding sentence (with respect to any Sponsor Indemnitor,
its “Allocable Losses”). 
 (c) With respect to any Sponsor Indemnitor’s Allocable Losses, such Sponsor Indemnitor has
the right in its sole discretion to: (i) defend against any claim for such Allocable Losses with counsel of its choice if, within 30 days following receipt of written notice of the claim from the Company, such Sponsor Indemnitor notifies the
Company in writing that it shall undertake such defense; and (ii) make any payment or enter into 

  
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 a settlement or release of any such claim in its sole discretion. For the avoidance of doubt, the payment,
settlement or release of any Sponsor Indemnitor’s Allocable Losses shall have no impact on the other Sponsor Indemnitor and its Allocable Losses, such that one Sponsor Indemnitor may choose in its sole discretion to settle its Allocable Losses
while the other Sponsor Indemnitor may choose to defend against its Allocable Losses. 
 (d) Notwithstanding anything to the contrary herein,
no Sponsor Indemnitor will have any obligation to indemnify or make any payment pursuant to Section 6.01(a) above with respect to (i) any claims by a third party (including a Target) that executed a waiver of any and all rights to
seek access to the Escrow Account, regardless of whether such executed waiver is deemed to be unenforceable against such third party, and (ii) any claims under the Company’s indemnity of the Underwriters pursuant to the purchase agreement
and the underwriting agreement between the Company and the Underwriters against certain liabilities, including any liabilities under the Securities Act of 1933 and the LMV, as amended. For the avoidance of doubt, any obligation to indemnify under
this Section 6.01 will terminate upon completion of the Initial Business Combination or the liquidation of the Escrow Account in the event the Company fails to complete an Initial Business Combination in the required time frame. 

(e) The Company shall not enter into any services or transaction agreement without a clause that is substantially similar to the form attached
hereto as Exhibit “B”, unless the board of directors, with the affirmative vote of Miguel Galuccio and Ken Ryan, approves an agreement without such clause. 

SECTION 6.02 Call Option and Irrevocable Power of Attorney. On or before the date hereof the Management Sponsors and the Management
Sponsors Entity shall, and hereby agree to, execute an irrevocable call option agreement (contrato de promesa de venta) pursuant to which the Management Sponsors shall have the obligation to sell, and the Management Sponsors Entity shall have
the right to purchase, up to all Series B Shares and up to all Sponsor Warrants owned by the Management Sponsors Entity after the Global Offering (after giving effect to any adjustment made in accordance with Section 4.01(b)) in such
amount as needed to provide the Management Sponsors Entity with sufficient funds to pay for any Indemnification Payment (as defined below). The call option shall become exercisable, for a total consideration of USD$10.00 (a) upon the receipt by the
Company of a definitive non-appealable resolution issued by a competent court ruling that the Management Sponsors Entity is required to make a payment to the Company under Section 6.01 hereof
(“Indemnification Payment”), and (b) only if such Indemnification Payment is not made by the Management Entity Sponsor to the Company within the term provided by such court resolution (or 5 business days after such resolution
is notified or published, in the event no term is included therein). Within 10 business days after the execution of the irrevocable call option agreement (contrato de promesa de venta), the Management Sponsors Entity shall grant an
irrevocable power of attorney in favor of the Company so that the Company has legal authority to (i) exercise, on behalf of the Management Sponsors Entity, all of its right under such irrevocable call

  
 -14- 

 option agreement (contrato de promesa de venta) pursuant to the first sentence of this Section,
including purchasing as many Series B Shares and Sponsor Warrants as the Company determines as necessary to provide the Management Sponsors Entity with sufficient funds to pay for any Indemnification Payment, acting pursuant to the terms and
conditions set forth in the irrevocable call option agreement (contrato de promesa de venta), and (ii) sell the Series B Shares and Sponsor Warrants so acquired from the Management Sponsors, and use the proceeds thereof to make the
Indemnification Payment. 
 ARTICLE VII 

LOCK-UP PROVISIONS 

SECTION 7.01 Lock-Up for Series B Shares. Subject to Section 7.03, the Sponsors
agree that it or he shall not Transfer any Series B Shares (or Series A Shares delivered upon conversion thereof) until the earlier of (i) one year after the Initial Business Combination Closing Date or (ii) subsequent to the Initial
Business Combination, (x) if the last USD$ Closing Price equals or exceeds 12 Dollars per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 Trading Days within any 30 Trading Day
period commencing at least 150 days after the Initial Business Combination Closing Date or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in
all of the Company’s stockholders having the right to exchange their shares of Series A Shares for cash, securities or other property. 

SECTION 7.02 Lock-up of Sponsor Warrants. Subject to Section 7.03, the Riverstone
Sponsor and each Management Sponsor agrees that it or he shall not Transfer any Sponsor Warrants (or Series A Shares delivered upon exercise of such Sponsor Warrants), until 30 days after the Initial Business Combination Closing Date. 

SECTION 7.03 Transfer Provisions. (a) Notwithstanding the provisions set forth in Sections 7.01 and 7.02, Transfers
of the Series B Shares, Sponsor Warrants and Series A Shares delivered upon the exercise or conversion of the Sponsor Warrants or the Series B Shares, as applicable, and that are held by the Riverstone Sponsor, any Management Sponsor are permitted
(i) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the Sponsors or any affiliates of the Sponsor; (ii) in the case of an individual, by gift
to a member of the individual’s immediate family, to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization; (iii) in the case of an
individual, by virtue of laws of descent and distribution upon death of the individual; (iv) in the case of an individual, pursuant to a qualified domestic relations order; (v) by private sales or transfers made in connection with the
consummation of an Initial Business Combination at prices no greater than the price at which the securities were originally purchased; (vi) in the event of the Company’s liquidation prior to the completion of an Initial Business
Combination; (vii) in case of Riverstone Sponsor, by virtue of the laws of the province of Ontario or the 

  
 -15- 

 federal laws of Canada or the terms of its limited partnership agreement upon dissolution of the Sponsor;
and (viii) in the event of the Company’s liquidation, merger, capital stock exchange, reorganization or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Series A Shares
for cash, securities or other property subsequent to the completion of the Initial Business Combination; provided, however, that in the case of clauses (i) through (v) and (vii), these permitted transferees must enter into a written agreement
agreeing to be bound by similar transfer restrictions (each a “Permitted Transferee”). 
 (b) Any transfer of Series B
Shares (or Series A Shares delivered upon conversion thereof) Sponsor Warrants in accordance with the irrevocable call option agreement (contrato de promesa de venta) described in Section 6.02 above would not be considered a
breach to the lock up provisions set forth in Sections 7.01 and 7.02 hereof. 
 ARTICLE VIII 

STRATEGIC PARTNER 
 SECTION
8.01 Strategic Partners. (a) The parties hereto acknowledge and agree that (i) the Sponsors are strategic partners of the Company for purposes of Article 367 of the Securities Market Law; and that the maximum percentage of the
capital stock of the Company they could potentially hold is 100%, and (ii) this Agreement is recognized in the By-laws of the Company. 

(b) Accordingly, to the extent the Sponsors, individually or as a group, fall within the description of insider set forth in subparagraphs I or
II of Article 363 of the Securities Market Law, the Sponsors are nevertheless authorized to buy or sell to the Company securities representing capital stock of the Company, including the acquisition and/or sales of securities provided for in this
Agreement and the Shareholders Resolutions. 
 SECTION 8.02. Disclosure to BMV. The Company hereby agrees that in the event there is
a sale or an acquisition of securities between the Company and any of the Sponsors as provided for in Section 8.01(b), the Company shall disclose it to the BMV in terms of the applicable regulation and through the means made available by
BMV. 
 ARTICLE X 

MISCELLANEOUS 
 SECTION
9.01. Notices. (a) All notices and other communications hereunder shall be in writing and shall be deemed given when mailed, delivered personally, by facsimile or email (each of which is confirmed) or sent by an overnight courier
service, to the parties at the following addresses (or at such other address for a party as shall be specified by such party by like notice): 

  
 -16- 

 if to Management Sponsors 

Attention: Santiago Pedro Balbi 

Telephone: +54 11 4021 2326|5171-2326 

Facsimile: +54 11 4021 2301|5171-2301 

E-mail: santiago.balbi@bfmyl.com 

if to Riverstone Sponsor: 

Attention: General Counsel 

Telephone: +1 212 993 0077 

Email: legal@riverstonellc.com 

if to Management Sponsors Entity 

Attention: Santiago Pedro Balbi 

Telephone: +54 11 4021 2326|5171-2326 

Facsimile: +54 11 4021 2301|5171-2301 

E-mail: santiago.balbi@bfmyl.com 

(b) The Company hereby agrees to (i) promptly provide to Riverstone Sponsor (through the individuals authorized to receive notices and
other communications as provided above, or any other person that Riverstone Sponsor subsequently identify for such purposes) with copies of all drafts of any agreements or other documents delivered by the Management Sponsors as attorneys-in-fact of the Company and in connection with any of their activities related with any Initial Business Combination, and (ii) keep Riverstone Sponsor updated
with respect to any information received from the Management Sponsors in connection with negotiations relating to the Initial Business Combination. 

SECTION 10.02. Language and Counterparts. This Agreement is executed in English language, and has been executed in multiple
counterparts, each of which shall be deemed to be an original of this Agreement. 
 SECTION 10.03. Assignment. This Agreement and the
rights and obligations hereunder shall not be assignable or transferable by any party without the prior written consent of the other Parties to this Agreement, it being understood that the foregoing shall not be read to limit any Transfer pursuant
to this Agreement. 
 SECTION 10.04. Governing Law. This Agreement shall be governed by, construed and interpreted in accordance with
the applicable laws of Mexico. The parties hereto expressly waive any right they may have, now or in the future, to demand or seek the application of a governing law other than the laws of Mexico. 

  
 -17- 

 SECTION 10.05 Jurisdiction. Each of the parties hereto irrevocably and
unconditionally submits to the exclusive jurisdiction of the courts of Mexico City for the purpose of any action or judgment relating to or arising out of this agreement or any of the transactions contemplated hereby and to the laying of venue in
such court. 
 México City, México, August 1, 2017 

[SIGNATURE PAGES FOLLOWS] 

  
 -18- 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	VISTA SPONSOR HOLDINGS, L.P.
		
	By:	 	 /s/ Thomas Walker

 

			
	Name:	 	Thomas Walker
	Position:	 	 Managing Director of the
 general partner,
Riverstone
 Vista Holdings GP, L.L.C.

	
	VISTA SH, L.L.C.

 
			
		
	By:	 	 /s/ Thomas Walker

 

			
	Name:	 	Thomas Walker
	Position:	 	Managing Director

 [Signature page to Vista Strategic Partners Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	VISTA OIL & GAS, S.A.B. DE C.V.:
		
	By:	 	 /s/ Germán Gabriel Cueva
López

 
			
	Name:	 	Germán Gabriel Cueva López
	Position:	 	Attorney-in-fact

 [Signature page to Vista Strategic Partners Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	VISTA MANAGEMENT INTERNATIONAL
	COMPANY LIMITED
		
	By:	 	 /s/ Miguel Galuccio

			
	Name:	 	Miguel Galuccio
	Title:	 	Director

 [Signature page to Vista Strategic Partners Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	MANAGEMENT TEAM MEMBER:
		
	By:	 	 /s/ Miguel Galuccio

	Name:	 	Miguel Galuccio

 [Signature page to Vista Strategic Partners Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	MANAGEMENT TEAM MEMBER:
		
	By:	 	 /s/ Pablo Vera Pinto

	Name:	 	Pablo Vera Pinto

 [Signature page to Vista Strategic Partners Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	MANAGEMENT TEAM MEMBER:
		
	By:	 	 /s/ Juan Garoby

	Name:	 	Juan Garoby

 [Signature page to Vista Strategic Partners Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	MANAGEMENT TEAM MEMBER:
		
	By:	 	 /s/ Alejandro Cherñacov

			
	Name:	 	Alejandro Cherñacov

 [Signature page to Vista Strategic Partners Agreement]

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