Document:

SUBSCRIPTION
      AGREEMENT

    

    La
      Cortez
      Energy, Inc.

    1266
      1st
      Street,
      Suite 4

    Sarasota,
      FL 34236

    

    This
      Subscription Agreement (this “Agreement”)
      has
      been executed by the subscriber set forth in the signature page attached hereto
      (the “Subscriber”)
      in
      connection with the private placement offering (the “Offering”)
      of a
      minimum of 5,000,000 and a maximum of 10,000,000 units of securities (the
“PPO
      Units”)
      issued
      by La Cortez Energy, Inc. (formerly known as La Cortez Enterprises, Inc.),
      a
      Nevada Corporation (the “Company”),
      at a
      purchase price of $1.25 per PPO Unit. Each PPO Unit consists of (i) one share
      of
      the Company’s common stock, par value $0.001 per share (“Common
      Stock”),
      and
      (ii) a warrant, substantially in the form of Exhibit
      A
      hereto
      (the “Warrant”),
      representing the right to purchase one-half share of Common Stock, exercisable
      for a period of five years at an exercise price of $2.25 per whole share. This
      subscription is being submitted to you in accordance with and subject to the
      terms and conditions described in this Agreement and the Confidential Private
      Placement Memorandum of the Company dated July 28, 2008, as amended and
      supplemented from time to time, including all attachments, schedules and
      exhibits thereto (the “Memorandum”),
      relating to the Offering.

     

    The
      PPO
      Units being subscribed for pursuant to this Agreement have not been registered
      under the Securities Act of 1933, as amended (the “Securities
      Act”).
      The
      Offering is being made on a “best efforts” basis to “accredited investors,” as
      defined in Regulation D under the Securities Act, and non-”U.S. persons,” as
      defined in Regulation S under the Securities Act. The Company reserves the
      right, in its sole discretion and for any reason, to reject any Subscriber’s
      subscription in whole or in part, or to allot less than the number of PPO Units
      subscribed for.

     

    The
      undersigned acknowledges receipt of a copy of the Registration Rights Agreement,
      substantially in the form of Exhibit
      B
      hereto
      (the “Registration
      Rights Agreement”).
      

     

    The
      closing of the Offering (the “Closing;”
and
      the date on which such Closing occurs hereinafter referred to as the
“Closing
      Date”)
      shall
      be at the offices of Gottbetter Capital Markets, LLC, as placement agent for
      the
      PPO (the “Placement Agent”), at 488 Madison Avenue, New York, New York 10022 (or
      such other place as is mutually agreed to by the Company). The Company may
      conduct multiple closings for the sale of the PPO Units until the termination
      of
      the Offering. The Offering shall continue until August 8, 2008, which date
      may
      be extended until August 30, 2008 by the Company.

     

    1. Subscription.
      The
      undersigned Subscriber hereby subscribes to purchase the number of PPO Units
      set
      forth on the signature page attached hereto, at an aggregate price as set forth
      on such signature page (the “Purchase
      Price”),
      subject to the terms and conditions of this Agreement and on the basis of the
      representations, warranties, covenants and agreements contained
      herein.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2. Subscription
      Procedure.
      To
      complete a subscription for the PPO Units, the Subscriber must fully comply
      with
      the subscription procedure provided in this Section on or before the Closing
      Date.

     

    a. Transaction
      Documents.
      On or
      before the Closing Date, the Subscriber shall review, complete and execute
      the
      Omnibus Signature Page to this Agreement and the Investor Certification,
      attached hereto as Appendix
      A
      (collectively, the “Transaction
      Documents”),
      and
      deliver the Transaction Documents to the Placement Agent. Executed documents
      may
      be delivered to the Placement Agent by facsimile or electronic mail (e-mail),
      if
      the Subscriber delivers the original copies of the documents to the Placement
      Agent as soon as practicable thereafter.

     

    b. Purchase
      Price.
      Simultaneously with the delivery of the Transaction Documents to the Placement
      Agent as provided herein, and in any event on or prior to the Closing Date,
      the
      Subscriber shall deliver to CSC Trust Company of Delaware (the “Escrow Agent”)
      the full Purchase Price by check or by wire transfer of immediately available
      funds.

     

    c. Company
      Discretion.
      The
      Subscriber understands and agrees that the Company in its sole discretion
      reserves the right to accept or reject this or any other subscription for PPO
      Units, in whole or in part, notwithstanding prior receipt by the Subscriber
      of
      notice of acceptance of this subscription. The Company shall have no obligation
      hereunder until the Company shall execute and deliver to the Subscriber an
      executed copy of this Agreement. If this subscription is rejected in whole,
      or
      the offering of PPO Units is terminated, all funds received from the Subscriber
      will be returned without interest or offset, and this Agreement shall thereafter
      be of no further force or effect. If this subscription is rejected in part,
      the
      funds for the rejected portion of this subscription will be returned without
      interest or offset, and this Agreement will continue in full force and effect
      to
      the extent this subscription was accepted.

     

    3. Representations
      and Warranties of the Company.
      The
      Company hereby represents and warrants to the Subscriber the
      following: 

     

    a. Organization
      and Qualification.
      The
      Company is a corporation duly organized and validly existing under the laws
      of
      the State of Nevada. The Company has all requisite power and authority to carry
      on its business as currently conducted, other than such failures that would
      not
      reasonably be expected to have a material adverse effect on the Company’s
      business, properties or financial condition (a “Material
      Adverse Effect”).
      The
      Company is duly qualified to transact business in each jurisdiction in which
      the
      failure to be so qualified would reasonably be expected to have a Material
      Adverse Effect.

     

    b. Authorization.
      As of
      the Closing, all action on the part of the Company, its board of directors,
      officers and existing stockholders necessary for the authorization, execution
      and delivery of this Agreement, the Registration Rights Agreement, the Warrant
      and the performance of all obligations of the Company hereunder and thereunder
      shall have been taken, and this Agreement, the Registration Rights Agreement
      and
      the Warrant, assuming due execution by the parties hereto and thereto, will
      constitute valid and legally binding obligations of the Company, enforceable
      in
      accordance with their respective terms, subject to: (i) judicial principles
      limiting the availability of specific performance, injunctive relief, and other
      equitable remedies and (ii) bankruptcy, insolvency, reorganization, moratorium
      or other similar laws now or hereafter in effect generally relating to or
      affecting creditors’ rights.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    c. Valid
      Issuance of the Common Stock and the Warrant.
      The
      shares of Common Stock and the Warrant, when issued, sold and delivered in
      accordance with the terms of this Agreement for the consideration expressed
      herein, and the shares of Common Stock underlying the Warrant, when issued
      and
      delivered in accordance with the terms of the Warrant, shall be duly and validly
      issued and will be free of restrictions on transfer directly or indirectly
      created by the Company other than restrictions on transfer under this Agreement,
      the Registration Rights Agreement and the terms of the Warrant and under
      applicable federal and state securities laws.

    

    d. Governmental
      Consents.
      No
      consent, approval, order or authorization of, or registration, qualification,
      designation, declaration or filing with, any federal, state or local
      governmental authority on the part of the Company is required in connection
      with
      the offer, sale or issuance of the PPO Units, except for the following: (i)
      the
      filing of such notices as may be required under the Securities Act and (ii)
      the
      compliance with any applicable state securities laws, which compliance will
      have
      occurred within the appropriate time periods therefor.

    

    e. Litigation.
      There
      are no actions, suits, proceedings or investigations pending or, to the best
      of
      the Company’s knowledge, threatened before any court, administrative agency or
      other governmental body against the Company which question the validity of
      this
      Agreement, the Registration Rights Agreement or the Warrant, or the right of
      the
      Company to enter into any of them, or to consummate the transactions
      contemplated hereby or thereby, or which would reasonably be expected to have
      a
      Material Adverse Effect. The Company is not a party or subject to, and none
      of
      its assets is bound by, the provisions of any order, writ, injunction, judgment
      or decree of any court or government agency or instrumentality which would
      reasonably be expected to have a Material Adverse Effect.

    

    f. Compliance
      with Other Instruments.
      The
      Company is not in violation or default of any provision of its Articles of
      Incorporation, each as in effect immediately prior to the Closing, except for
      such failures as would not reasonably be expected to have a Material Adverse
      Effect. The Company is not in violation or default of any provision of any
      material instrument, mortgage, deed of trust, loan, contract, commitment,
      judgment, decree, order or obligation to which it is a party or by which it
      or
      any of its properties or assets are bound which would reasonably be expected
      to
      have a Material Adverse Effect. To the best of its knowledge, the Company is
      not
      in violation or default of any provision of any federal, state or local statute,
      rule or governmental regulation which would reasonably be expected to have
      a
      Material Adverse Effect. The execution, delivery and performance of and
      compliance with this Agreement, the Registration Rights Agreement and the
      issuance and sale of the PPO Units, will not result in any such violation,
      be in
      conflict with or constitute, with or without the passage of time or giving
      of
      notice, a default under any such provision, require any consent or waiver under
      any such provision (other than any consents or waivers that have been obtained),
      or result in the creation of any mortgage, pledge, lien, encumbrance or charge
      upon any of the properties or assets of the Company pursuant to any such
      provision.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    g. Certain
      Registration Matters. Assuming the accuracy of the Subscriber’s representations
      and warranties set forth in this Agreement and the Transaction Documents, and
      the representations and warranties made by all other purchasers of PPO Units
      in
      the Offering, no registration under the Securities Act is required for the
      offer
      and sale of the PPO Units by the Company to the Subscriber hereunder.

    

    h. No
      General Solicitation.
      Neither
      the Company nor any person acting on behalf of the Company has offered or sold
      any of the PPO Units by any form of general solicitation or general advertising
      (within the meaning of Regulation D).

    

    4. Representations
      and Warranties of the Subscriber. The
      Subscriber represents and warrants to the Company the following: 

     

    a. The
      Subscriber, its advisers, if any, and designated representatives, if any, have
      the knowledge and experience in financial and business matters necessary to
      evaluate the merits and risks of its prospective investment in the Company,
      and
      have carefully reviewed and understand the risks of, and other considerations
      relating to, the purchase of PPO Units and the tax consequences of the
      investment, and have the ability to bear the economic risks of the investment.
      

     

    b. The
      Subscriber is acquiring the PPO Units for investment for its own account and
      not
      with the view to, or for resale in connection with, any distribution thereof.
      The Subscriber understands and acknowledges that the PPO Units, the shares
      of
      Common Stock and the Warrant have not been registered under the Securities
      Act
      or any state securities laws, by reason of a specific exemption from the
      registration provisions of the Securities Act and applicable state securities
      laws, which depends upon, among other things, the bona fide nature of the
      investment intent as expressed herein. The Subscriber further represents that
      it
      does not have any contract, undertaking, agreement or arrangement with any
      person to sell, transfer or grant participation to any third person with respect
      to any of the PPO Units, the shares of Common Stock and the Warrant. The
      Subscriber understands and acknowledges that the offering of the PPO Units
      pursuant to this Agreement will not be registered under the Securities Act
      nor
      under the state securities laws on the ground that the sale provided for in
      this
      Agreement and the issuance of securities hereunder is exempt from the
      registration requirements of the Securities Act and any applicable state
      securities laws.

     

    c. The
      Subscriber understands that no public market now exists, and there never will
      be
      a public market for, the PPO Units, that an active public market for the
      Company’s Common Stock does not now exist and that there may never be an active
      public market for the shares of Common Stock sold in the Offering.

     

    d. The
      Subscriber, its advisers, if any, and designated representatives, if any, have
      received and reviewed information about the Company and have had an opportunity
      to discuss the Company’s business, management and financial affairs with its
      management. The Subscriber understands that such discussions, as well as any
      written information provided by the Company, were intended to describe the
      aspects of the Company’s business and prospects which the Company believes to be
      material, but were not necessarily a thorough or exhaustive description, and
      except as expressly set forth in this Agreement, the Company makes no
      representation or warranty with respect to the completeness of such information
      and makes no representation or warranty of any kind with respect to any
      information provided by any entity other than the Company. Some of such
      information may include projections as to the future performance of the Company,
      which projections may not be realized, may be based on assumptions which may
      not
      be correct and may be subject to numerous factors beyond the Company’s control.
      Additionally, the Subscriber understands and represents that he is purchasing
      the Units notwithstanding the fact that the Company may disclose in the future
      certain material information the Subscriber has not received, including
      financial statements of the Company for the quarterly period ended June 30,
      2008, which statements are currently being prepared and are expected to be
      filed
      with the SEC on or prior to August 14, 2008 and incorporated by reference into
      the Memorandum, and any subsequent period financial statements that will be
      filed with the SEC and incorporated by reference into the Memorandum, that
      he is
      not relying on any such information in connection with his purchase of the
      Units
      and that he waives any right of action with respect to the nondisclosure to
      him
      prior to his purchase of the Units of any such information.

     

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    e. As
      of the
      Closing, all action on the part of Subscriber, and its officers, directors
      and
      partners, if applicable, necessary for the authorization, execution and delivery
      of this Agreement and the Registration Rights Agreement and the performance
      of
      all obligations of the Subscriber hereunder and thereunder shall have been
      taken, and this Agreement and the Registration Rights Agreement, assuming due
      execution by the parties hereto and thereto, constitute valid and legally
      binding obligations of the Subscriber, enforceable in accordance with their
      respective terms, subject to: (i) judicial principles limiting the availability
      of specific performance, injunctive relief, and other equitable remedies and
      (ii) bankruptcy, insolvency, reorganization, moratorium or other similar laws
      now or hereafter in effect generally relating to or affecting creditors’ rights.

     

    f. The
      Subscriber either (i) is an “accredited investor” as defined in Rule 501 of
      Regulation D as promulgated by the Securities and Exchange Commission under
      the
      Securities Act or (ii) is not a “U.S. Person” as defined in Regulation S as
      promulgated by the Securities and Exchange Commission under the Securities
      Act,
      and, in each case, shall submit to the Company such further assurances of such
      status as may be reasonably requested by the Company.

     

    g. The
      Subscriber, if a non-U.S. Person, agrees that it is acquiring the Shares in
      an
      offshore transaction pursuant to Regulation S and hereby represents to the
      Company as follows:

     

    (i) Subscriber
      is outside the United States when receiving and executing this Subscription
      Agreement; 

     

    (ii) Subscriber
      has not acquired the Shares as a result of, and will not itself engage in,
      any
“directed selling efforts” (as defined in Regulation S) in the United States in
      respect of the Shares which would include any activities undertaken for the
      purpose of, or that could reasonably be expected to have the effect of,
      conditioning the market in the United States for the resale of the Shares;
      provided, however, that the Subscriber may sell or otherwise dispose of the
      Shares pursuant to registration of the Shares under the Securities Act and
      any
      applicable state and provincial securities laws or under an exemption from
      such
      registration requirements and as otherwise provided herein;

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (iii) The
      Subscriber understands and agrees that offers and sales of any of the Shares
      prior to the expiration of a period of one year after the date of transfer
      of
      the Shares under this Subscription Agreement (the “Distribution Compliance
      Period”), shall only be made in compliance with the safe harbor provisions set
      forth in Regulation S, pursuant to the registration provisions of the Securities
      Act or an exemption therefrom, and that all offers and sales after the
      Distribution Compliance Period shall be made only in compliance with the
      registration provisions of the Securities Act or an exemption therefrom, and
      in
      each case only in accordance with all applicable securities laws;

    

    (iv) The
      Subscriber understands and agrees not to engage in any hedging transactions
      involving the Shares prior to the end of the Distribution Compliance Period
      unless such transactions are in compliance with the Securities Act;
      and

    

    (v) The
      Subscriber hereby represents that it has satisfied itself as to the full
      observance of the laws of its jurisdiction in connection with any invitation
      to
      subscribe for the Shares or any use of this Subscription Agreement, including:
      (a) the legal requirements within its jurisdiction for the purchase of the
      Shares; (b) any foreign exchange restrictions applicable to such purchase;
      (c)
      any governmental or other consents that may need to be obtained; and (d) the
      income tax and other tax consequences, if any, that may be relevant to the
      purchase, holding, redemption, sale or transfer of the Shares. Such Subscriber’s
      subscription and payment for, and its continued beneficial ownership of the
      Shares, will not violate any applicable securities or other laws of the
      Subscriber’s jurisdiction.

    

    h. The
      Subscriber or its duly authorized representative realizes that because of the
      inherently speculative nature of investments of the kind contemplated by the
      Company, the Company’s investment results may be expected to fluctuate from
      month to month and from period to period and will, generally, involve a high
      degree of financial and market risk that can result in substantial or, at times,
      even total losses. 

     

    i. The
      Subscriber has adequate means of providing for its current and anticipated
      financial needs and contingencies, is able to bear the economic risk for an
      indefinite period of time and has no need for liquidity of the investment in
      the
      PPO Units and could afford complete loss of such investment. 

     

    j. The
      Subscriber is not subscribing for PPO Units as a result of or subsequent to
      any
      advertisement, article, notice or other communication, published in any
      newspaper, magazine or similar media or broadcast over television, radio, or
      the
      internet, or presented at any seminar or meeting, or any solicitation of a
      subscription by a person not previously known to the Subscriber in connection
      with investments in securities generally. 

     

    k. The
      Subscriber agrees to be bound by all of the terms and conditions of the
      Registration Rights Agreement and to perform all obligations thereby imposed
      upon it. 

     

    l. All
      of
      the information that the Subscriber has heretofore furnished or which is set
      forth herein is correct and complete as of the date of this Agreement, and,
      if
      there should be any material change in such information prior to the admission
      of the undersigned to the Company, the Subscriber will immediately furnish
      revised or corrected information to the Company. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5. Transfer
      Restrictions.
      The
      Subscriber acknowledges and agrees as follows: 

     

    a. The
      PPO
      Units, the shares of Common Stock and the Warrant have not been registered
      for
      sale under the Securities Act, in reliance on the private offering exemption
      in
      Section 4(2) thereof; the Company does not intend to register the PPO Units,
      the
      shares of Common Stock and the Warrant under the Securities Act at any time
      in
      the future; and the undersigned will not immediately be entitled to the benefits
      of Rule 144 with respect to the PPO Units, the shares of Common Stock and the
      Warrant.

     

    b. The
      Subscriber understands that the certificates representing the Shares, until
      such
      time as they have been registered under the Securities Act, shall bear a
      restrictive legend in substantially the following form (and a stop-transfer
      order may be placed against transfer of such certificates or other
      instruments):

    

    For
      U.S.
      Persons:

     

    THESE
      SECURITIES HAVE BEEN ISSUED PURSUANT TO THE SECTION 4(2) EXEMPTION TO THE
      REGISTRATION PROVISIONS UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THESE
      SECURITIES CANNOT BE TRANSFERRED, OFFERED, OR SOLD UNLESS THE SECURITIES ARE
      REGISTERED UNDER THE SECURITIES ACT OR AN EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE.

    

    For
      Non-U.S. Persons:

    

    THESE
      SECURITIES WERE ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S.
      PERSONS (AS DEFINED in regulation s) PURSUANT TO REGULATION S UNDER THE UNITED
      STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). ACCORDINGLY, NONE OF
      THE SECURITIES TO WHICH THIS CERTIFICATE RELATES HAVE BEEN REGISTERED UNDER
      THE
      1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE
      MAY
      BE OFFERED OR SOLD IN THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S.
      PERSONS EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT
      TO AN
      EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
      REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE
      STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE
      SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933
      ACT.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
      legend(s) set forth above shall be removed and the Company shall issue a
      certificate without such legend to the holder of the Shares upon which it is
      stamped, if (a) such Shares are being sold pursuant to a registration
      statement under the Securities Act, or (b) such holder delivers to the
      Company an opinion of counsel, in a reasonably acceptable form, to the Company
      that a disposition of the Shares is being made pursuant to an exemption from
      such registration.

     

    c. No
      governmental agency has passed upon the PPO Units, the shares of Common Stock
      and the Warrant or made any finding or determination as to the wisdom of any
      investments therein. 

     

    d. There
      are
      substantial restrictions on the transferability of the shares of Common Stock,
      and if the Company decides to issue certificates representing the shares of
      Common Stock, restrictive legends will be placed on any such certificates.
      

    

    6. Indemnification.
      The
      Subscriber agrees to indemnify and hold harmless the Company, Gottbetter Capital
      Markets, LLC, as placement agent in the Offering, and their respective officers,
      directors, employees, agents, control persons and affiliates from and against
      all losses, liabilities, claims, damages, costs, fees and expenses whatsoever
      (including, but not limited to, any and all expenses incurred in investigating,
      preparing or defending against any litigation commenced or threatened) based
      upon or arising out of any actual or alleged false acknowledgment,
      representation or warranty, or misrepresentation or omission to state a material
      fact, or breach by the Subscriber of any covenant or agreement made by the
      Subscriber herein or in any other document delivered in connection with this
      Agreement.

     

    7. Irrevocability;
      Binding Effect.
      The
      Subscriber hereby acknowledges and agrees that the subscription hereunder is
      irrevocable by the Subscriber, except as required by applicable law, and that
      this Agreement shall survive the death or disability of the Subscriber and
      shall
      be binding upon and inure to the benefit of the parties and their heirs,
      executors, administrators, successors, legal representatives and permitted
      assigns. If the Subscriber is more than one person, the obligations of the
      Subscriber hereunder shall be joint and several and the agreements,
      representations, warranties and acknowledgments herein shall be deemed to be
      made by and be binding upon each such person and such person’s heirs, executors,
      administrators, successors, legal representatives and permitted
      assigns.

    

    8. Modification.
      This
      Agreement shall not be modified or waived except by an instrument in writing
      signed by the party against whom any such modification or waiver is sought.
      

     

    9. Immaterial
      Modifications to the Registration Rights Agreement.
      The
      Company may, at any time prior to the initial Closing, amend the Registration
      Rights Agreement if necessary to clarify any provision therein, without first
      providing notice or obtaining prior consent of the Subscriber.

     

    10. Notices.
      Any
      notice or other communication required or permitted to be given hereunder shall
      be in writing and shall be mailed by certified mail, return receipt requested,
      or delivered against receipt to the party to whom it is to be given (a) if
      to
      the Company, at the address set forth above, or (b) if to the Subscriber, at
      the
      address set forth on the signature page hereof (or, in either case, to such
      other address as the party shall have furnished in writing in accordance with
      the provisions of this Section 10). Any notice or other communication given
      by
      certified mail shall be deemed given at the time of certification thereof,
      except for a notice changing a party’s address which shall be deemed given at
      the time of receipt thereof.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    11. Assignability.
      This
      Agreement and the rights, interests and obligations hereunder are not
      transferable or assignable by the Subscriber and the transfer or assignment
      of
      the PPO Units, the shares of Common Stock, the Warrant or the shares of Common
      Stock underlying the Warrants shall be made only in accordance with all
      applicable laws.

    

    12. Applicable
      Law. This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York, without reference to the principles thereof relating to
      the
      conflict of laws.

    

    13. Arbitration.
      The
      parties agree to submit all controversies to arbitration in accordance with
      the
      provisions set forth below and understand that:

    

    (a) Arbitration
      is final and binding on the parties.

    

    (b) The
      parties are waiving their right to seek remedies in court, including the right
      to a jury trial.

    

    (c) Pre-arbitration
      discovery is generally more limited and different from court
      proceedings.

    

    (d) The
      arbitrator’s award is not required to include factual findings or legal
      reasoning and any party’s right to appeal or to seek modification of rulings by
      arbitrators is strictly limited.

    

    (e) The
      panel
      of arbitrators will typically include a minority of arbitrators who were or
      are
      affiliated with the securities industry.

    

    (f) All
      controversies which may arise between the parties concerning this Agreement
      shall be determined by arbitration pursuant to the rules then pertaining to
      the
      Financial Industry Regulatory Authority in New York City, New York. Judgment
      on
      any award of any such arbitration may be entered in the Supreme Court of the
      State of New York or in any other court having jurisdiction of the person or
      persons against whom such award is rendered. Any notice of such arbitration
      or
      for the confirmation of any award in any arbitration shall be sufficient if
      given in accordance with the provisions of this Agreement. The parties agree
      that the determination of the arbitrators shall be binding and conclusive upon
      them.

    

    14. Blue
      Sky Qualification.
      The
      purchase of PPO Units under this Agreement is expressly conditioned upon the
      exemption from qualification of the offer and sale of the PPO Units from
      applicable federal and state securities laws. The Company shall not be required
      to qualify this transaction under the securities laws of any jurisdiction and,
      should qualification be necessary, the Company shall be released from any and
      all obligations to maintain its offer, and may rescind any sale contracted,
      in
      the jurisdiction.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    15. Use
      of Pronouns.
      All
      pronouns and any variations thereof used herein shall be deemed to refer to
      the
      masculine, feminine, neuter, singular or plural as the identity of the person
      or
      persons referred to may require.

    

    16. Confidentiality.
      The
      Subscriber acknowledges and agrees that any information or data the Subscriber
      has acquired from or about the Company or may acquire in the future, not
      otherwise properly in the public domain, including, without limitation, the
      Memorandum, was received in confidence. The Subscriber agrees not to divulge,
      communicate or disclose, except as may be required by law or for the performance
      of this Agreement, or use to the detriment of the Company or for the benefit
      of
      any other person, or misuse in any way, any confidential information of the
      Company, including any scientific, technical, trade or business secrets of
      the
      Company and any scientific, technical, trade or business materials that are
      treated by the Company as confidential or proprietary, including, but not
      limited to, internal personnel and financial information of the Company or
      its
      affiliates, information regarding oil and gas properties, the manner and methods
      of conducting the business of the Company or its affiliates and confidential
      information obtained by or given to the Company about or belonging to third
      parties. The Subscriber understands that the Company may rely on his agreement
      of confidentiality to comply with the exemptive provisions of Regulation FD
      under the Securities Act of 1933 as set forth in Rule 100(a)(b)(2)(ii) of
      Regulation FD. In addition, the Subscriber acknowledges that he is aware that
      the United States securities laws generally prohibit any person who is in
      possession of material nonpublic information about a public company such as
      the
      Company from purchasing or selling securities of such company.

    

    17. Miscellaneous.

    

    (a) This
      Agreement, together with the Registration Rights Agreement, constitute the
      entire agreement between the Subscriber and the Company with respect to the
      subject matter hereof and supersede all prior oral or written agreements and
      understandings, if any, relating to the subject matter hereof. The terms and
      provisions of this Agreement may be waived, or consent for the departure
      therefrom granted, only by a written document executed by the party entitled
      to
      the benefits of such terms or provisions.

    

    (b) The
      representations and warranties of the Company and the Subscriber made in this
      Agreement shall survive the execution and delivery hereof and delivery of the
      Common Stock and the Warrants contained in the PPO Units.

    

    (c) Each
      of
      the parties hereto shall pay its own fees and expenses (including the fees
      of
      any attorneys, accountants, appraisers or others engaged by such party) in
      connection with this Agreement and the transactions contemplated hereby, whether
      or not the transactions contemplated hereby are consummated.

    

    (d) This
      Agreement may be executed in one or more original
      or facsimile counterparts,
      each of
      which shall be deemed an original, but all of which shall together constitute
      one and the same instrument.

    

    (e) Each
      provision of this Agreement shall be considered separable and, if for any reason
      any provision or provisions hereof are determined to be invalid or contrary
      to
      applicable law, such invalidity or illegality shall not impair the operation
      of
      or affect the remaining portions of this Agreement.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (f) Paragraph
      titles are for descriptive purposes only and shall not control or alter the
      meaning of this Agreement as set forth in the text.

    

    (g) The
      Subscriber understands and acknowledges that there may be multiple Closings
      for
      the Offering. 

    

    (h) The
      Subscriber hereby agrees to furnish the Company such other information as the
      Company may request prior to the Closing with respect to its subscription
      hereunder. 

    

    18. Omnibus
      Signature Page.
      This
      Agreement is intended to be read and construed in conjunction with the
      Registration Rights Agreement pertaining to the issuance by the Company of
      the
      PPO Units, the shares of Common Stock, the Warrant and the shares of Common
      Stock underlying the Warrant to subscribers in the Offering. Accordingly,
      pursuant to the terms and conditions of this Agreement and such related
      agreements, it is hereby agreed that the execution by the Subscriber of this
      Agreement, in the place set forth herein, shall constitute agreement to be
      bound
      by the terms and conditions hereof and the terms and conditions of the
      Registration Rights Agreement, with the same effect as if each of such separate
      but related agreement were separately signed.

    

    19. Public
      Disclosure.
      Neither
      the Subscriber nor any officer, manager, director, member, partner, stockholder,
      employee, affiliate, affiliated person or entity of the Subscriber shall make
      or
      issue any press releases or otherwise make any public statements or make any
      disclosures to any third person or entity with respect to the transactions
      contemplated herein and will not make or issue any press releases or otherwise
      make any public statements of any nature whatsoever with respect to the Company
      without the Company’s express prior approval. The Company has the right to
      withhold such approval in its sole discretion. 

    

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    How
      to subscribe for PPO Units in the private offering of

    La
      Cortez Energy, Inc.:

    

    
      	1.	
              Date
                and Fill
                in
                the number of PPO Units being purchased and Complete
                and Sign
                the Omnibus Signature Page.

            

    

    

    
      	2.	
              Initial
                the
                Investor Certification page.

            

    

    

    
      	3.	
              Fax or
                email
                all forms and then send all signed original documents
                to:

            

    

    

    Gottbetter
      & Partners, LLP

    488
      Madison Avenue, 12th Floor

    New
      York,
      NY 10022

    Facsimile
      Number: (212) 400-6901

    Telephone
      Number: (212) 400-6900

    Attn:
      Rachel L. DeGenaro

    E-mail
      Address: rlg@gottbetter.com

    

    
      	4.	
              If
                you are paying the Purchase Price by check,
                a
                check
                for
                the exact dollar amount of the Purchase Price for the number of
                PPO Units you are purchasing should be made payable to the order
                of “CSC
                Trust Company of Delaware, Escrow Agent for LA CORTEZ ENERGY, INC.”
                and
                should sent
                to CSC Trust Company of Delaware, 2711 Centerville Road, One Little
                Falls
                Center, Wilmington, DA 19808.
                

            

    

    

    
      	5.	
              If
                you are paying the Purchase Price by wire
                transfer,
                you should send a wire transfer for the exact dollar amount of the
                Purchase Price for the number of PPO Units you are purchasing according
                to
                the
                following instructions:
                

            

    

    

    
      	
              Bank:

            	
              PNC
                Bank. 

            
	 	 
	
              ABA
                Routing #:

            	
              031100089

            
	 	 
	
              Account
                Name

            	
              CSC
                Trust Company of Delaware

            
	 	 
	
              Account
                #:

            	
              5605012373

            
	 	 
	
              Reference:

            	
              “La
                Cortez Energy Escrow 791183 – [insert 
Subscriber’s
                name]”

            

    

    

    Thank
      you
      for your interest,

    

    La
      Cortez
      Energy, Inc.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    LA
      CORTEZ ENERGY, INC.

    OMNIBUS
      SIGNATURE PAGE TO

    SUBSCRIPTION
      AGREEMENT AND

    REGISTRATION
      RIGHTS AGREEMENT

     

    IN
      WITNESS WHEREOF, the Subscriber hereby executes this Subscription Agreement
      and
      the Registration Rights Agreement.

     

    Dated:    
 ,
      2008

    

    
      	
              SUBSCRIBER
                (individual)

            	 	
              SUBSCRIBER
                (entity)

            
	 	 	 	 
	
               

            	 	
               

            
	
              Signature

            	 	
              Name
                of Entity

            
	 	 	 	 
	
               

            	 	
               

            
	
              Print
                Name

            	 	
              Signature

            	 
	 	 	 	 
	
               

            	 	
              Print
                Name: 

            	
               

            
	
              Signature
                (if Joint Tenants or Tenants in Common)

            	 	 	 
	 	 	
              Title:
                

            	
               

            
	 	 	 	 
	
              Address
                of Principal Residence:

            	 	
              Address
                of Executive Offices:

            
	 	 	 	 
	
               

            	 	
               

            
	
               

            	 	
               

            
	
               

            	 	
               

            
	 	 	 	 
	
              Social
                Security Number(s):

            	 	
              IRS
                Tax Identification Number: 

            
	
               

            	 	
               

            
	 	 	 	 
	
              Telephone
                Number:

            	 	
              Telephone
                Number: 

            
	
               

            	 	
               

            
	 	 	 	 
	
              Facsimile
                Number:

            	 	
              Facsimile
                Number: 

            
	
               

            	 	
               

            
	 	 	 	 
	
              E-mail
                Address:

            	 	
              E-mail
                Address: 

            
	 	 	 

    

    

    
      	
               

            	
              X

            	
              $1.25

            	
              =

            	
              $
                

            
	
              Number
                of PPO Units

            	 	
              Price
                per PPO Unit

            	 	
              Purchase
                Price 

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    LA
      CORTEZ ENERGY, INC.

     

    IN
      WITNESS WHEREOF, the Company has duly executed this Subscription
      Agreement.

     

    
      	
              LA
                CORTEZ ENERGY, INC.

            
	 	 
	 	 
	
              By:

            	
               

            
	
              Name:

            	
              Andres
                Gutierrez

            
	
              Title:

            	
              Chief
                Executive Officer

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    LA
      CORTEZ ENERGY, INC.

    INVESTOR
      CERTIFICATION

    

    For
      Individual Accredited Investors Only

    (all
      Individual Accredited Investors must INITIAL
      where appropriate):

    

    
      	
              Initial
                _______

            	
              I
                have a net worth (including home, furnishings and automobiles) in
                excess
                of $1,000,000 either individually or through aggregating my individual
                holdings and those in which I have a joint, community property or
                other
                similar shared ownership interest with my spouse.

            
	
              Initial
                _______

            	
              I
                have had an annual gross income for the past two years of at least
                $200,000 (or $300,000 jointly with my spouse) and expect my income
                (or
                joint income, as appropriate) to reach the same level in the current
                year.

            

    

    

    For
      Non-Individual Accredited Investors

    (all
      Non-Individual Accredited Investors
      must INITIAL
      where appropriate):

    

    
      	
              Initial
                _______

            	
              The
                investor certifies that it is a partnership, corporation, limited
                liability company or business trust that is 100% owned by persons
                who meet
                at least one of the criteria for Individual Investors set forth above.
                

            
	
              Initial
                _______

            	
              The
                investor certifies that it is a partnership, corporation, limited
                liability company or business trust that has total assets of at least
                $5
                million and was not formed for the purpose of investing in the
                Company.

            
	
              Initial
                _______

            	
              The
                investor certifies that it is an employee benefit plan whose investment
                decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is
                a bank, savings and loan association, insurance company or registered
                investment adviser.

            
	
              Initial
                _______

            	
              The
                investor certifies that it is an employee benefit plan whose total
                assets
                exceed $5,000,000 as of the date of this Agreement.

            
	
              Initial
                _______

            	
              The
                undersigned certifies that it is a self-directed employee benefit
                plan
                whose investment decisions are made solely by persons who meet either
                of
                the criteria for Individual Investors.

            
	
              Initial
                _______

            	
              The
                investor certifies that it is a U.S. bank, U.S. savings and loan
                association or other similar U.S. institution acting in its individual
                or
                fiduciary capacity.

            
	
              Initial
                _______

            	
              The
                undersigned certifies that it is a broker-dealer registered pursuant
                to
                §15 of the Securities Exchange Act of 1934.

            
	
              Initial
                _______

            	
              The
                investor certifies that it is an organization described in §501(c)(3) of
                the Internal Revenue Code with total assets exceeding $5,000,000
                and not
                formed for the specific purpose of investing in the
                Company.

            
	
              Initial
                _______

            	
              The
                investor certifies that it is a trust with total assets of at least
                $5,000,000, not formed for the specific purpose of investing in the
                Company, and whose purchase is directed by a person with such knowledge
                and experience in financial and business matters that he is capable
                of
                evaluating the merits and risks of the prospective
                investment.

            
	
              Initial
                _______

            	
              The
                investor certifies that it is a plan established and maintained by
                a state
                or its political subdivisions, or any agency or instrumentality thereof,
                for the benefit of its employees, and which has total assets in excess
                of
                $5,000,000.

            
	
              Initial
                _______

            	
              The
                investor certifies that it is an insurance company as defined in
§2(13) of
                the Securities Act, or a registered investment
                company.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    For
      Non-U.S. Person Investors

    (all
      Investors who are not a U.S. Person must
      INITIAL
      this section):

    

    
      	
              Initial
                _______

            	
              The
                Investor is not a “U.S. Person” as defined in Regulation S; and
                specifically the Purchaser is not:

            
	 	 
	
              A.

            	
              a
                natural person resident in the United States of America, including
                its
                territories and possessions (“United States”);

            
	
              B.

            	
              a
                partnership or corporation organized or incorporated under the laws
                of the
                United States;

            
	
              C.

            	
              an
                estate of which any executor or administrator is a U.S.
                Person;

            
	
              D.

            	
              a
                trust of which any trustee is a U.S. Person;

            
	
              E.

            	
              an
                agency or branch of a foreign entity located in the United
                States;

            
	
              F.

            	
              a
                non-discretionary account or similar account (other than an estate
                or
                trust) held by a dealer or other fiduciary for the benefit or account
                of a
                U.S. Person;

            
	
              G.

            	
              a
                discretionary account or similar account (other than an estate or
                trust)
                held by a dealer or other fiduciary organized, incorporated, or (if
                an
                individual) resident in the United States; or

            
	
              H.

            	
              a
                partnership or corporation: (i) organized or incorporated under the
                laws
                of any foreign jurisdiction; and (ii) formed by a U.S. Person principally
                for the purpose of investing in securities not registered under the
                Securities Act, unless it is organized or incorporated, and owned,
                by
                accredited investors (as defined in Rule 501(a) under the Act) who
                are not
                natural persons, estates or trusts.

            

    

    

    And,
      in
      addition:

    

    
      	
              I.

            	
              the
                Purchaser was not offered the Units in the United
                States;

            
	
              J.

            	
              at
                the time the buy-order for the Units was originated, the Purchaser
                was
                outside the United States; and

            
	
              K.

            	
              the
                Purchaser is purchasing the Units for its own account and not on
                behalf of
                any U.S. Person (as defined in Regulation S) and a sale of the Units
                has
                not been pre-arranged with a purchaser in the United
                States.Warrant
      Certificate No. ___

    

    NEITHER
      THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES ISSUABLE
      UPON
      THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH
      SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, ASSIGNED OR OTHERWISE
      TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS
      EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE
      SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE
      COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH
      COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY
      BE
      OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED
      WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE
      SECURITIES
      LAWS.

    

    
      	
              Effective
                Date: [ ], 2008

            	
              Void
                After: [ ], 2013

            

    

    

    LA
      CORTEZ ENERGY, INC.

    

    WARRANT
      TO PURCHASE COMMON STOCK

    

    La
      Cortez
      energy, Inc., a Nevada corporation (the “Company”),
      for
      value received on [ ], 2008 (the “Effective
      Date”),
      hereby issues to [
      ] (the
      “Holder”)
      this
      Warrant (the “Warrant”)
      to
      purchase, [ ] shares (each such share
      as from
      time to time adjusted as hereinafter provided
      being a
“Warrant
      Share”
and
      all
      such shares being the “Warrant
      Shares”)
      of the
      Company’s Common Stock (as defined below), at the Exercise Price (as defined
      below), as adjusted from time to time as provided herein, on or before [ ],
      2013
      (the “Expiration
      Date”),
      all
      subject to the following terms and conditions. Unless otherwise defined in
      this
      Warrant, terms appearing in initial capitalized form shall have the meaning
      ascribed to them in that certain Subscription Agreement between the Company
      and
      the purchaser signatory thereto pursuant to which this Warrant was issued (the
      “Subscription
      Agreement”).
      This
      Warrant is one of a series of Warrants issued in accordance with the terms
      of
      the Offering (collectively, the “Warrants”)
      to the
      Holder and additional investors (collectively, the “Holders”).

    

    As
      used
      in this Warrant, (i) “Business
      Day”
means
      any day other than Saturday, Sunday or any other day on which commercial banks
      in the City of New York, New York, are authorized or required by law or
      executive order to close; (ii) “Common
      Stock”
means
      the common stock of the Company, par value $0.001 per share, including
      any securities issued or issuable with respect thereto or into which or for
      which such shares may be exchanged for, or converted into, pursuant to any
      stock
      dividend, stock split, stock combination, recapitalization, reclassification,
      reorganization or other similar event; (iii) “Exercise
      Price”
means
      $2.25 per share of Common Stock, subject to adjustment as provided herein;
      (iv)
      “Trading
      Day”
means
      any
      day
      on which
      the Common Stock is traded on the primary national or regional stock exchange
      on
      which the Common Stock is listed, or if not so listed, the OTC Bulletin Board,
      if quoted thereon, is
      open
      for the transaction of business; and (v) “Affiliate”
means
      any person that, directly or indirectly, through one or more intermediaries,
      controls, is controlled by, or is under common control with, a person, as such
      terms are used and construed in Rule 144 promulgated
      under the Securities Act of 1933, as amended (the “Securities
      Act”).

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              1.

            	
              DURATION
                AND EXERCISE OF WARRANTS

            

    

    

    (a) Exercise
      Period.
      The
      Holder may exercise this Warrant in whole or in part on any Business Day on
      or
      before 5:00 P.M., Eastern Time, on the Expiration Date, at which time this
      Warrant shall become void and of no value.

    

    
      
        (b)
          Exercise
          Procedures.

      

    

    

    (i) While
      this Warrant remains outstanding and exercisable in accordance with Section
      1(a), in addition to the manner set forth in Section 1(b)(ii) below, the Holder
      may exercise this Warrant in whole or in part
      at any
      time and from time to time
      by:

    

    (A) delivery
      to the Company of a duly completed and executed copy of the notice of exercise
      attached as Exhibit
      A (the
      “Notice
      of Exercise”);

    

    (B) surrender
      of this Warrant to the Secretary of the Company at its principal offices or
      at
      such other office or agency as the Company may specify in writing to the Holder;
      and

    

    (C) payment
      of the
      then-applicable
      Exercise
      Price per share multiplied by the number of Warrant Shares being purchased
      upon
      exercise of the Warrant (such amount, the “Aggregate
      Exercise Price”)
      made
      in
      the form of cash, or by certified check, wire transfer, bank draft or money
      order payable in lawful money of the United States of America
      or in
      the form of a Cashless Exercise
      to the
      extent permitted in Section 1(b)(ii) below.

    

    (ii) While
      this Warrant remains outstanding and exercisable in accordance with Section
      1(a), if we default in honoring the Holder’s “piggyback” registration rights (as
      defined in that certain Registration Rights Agreement of even date herewith
      executed by the Holder in connection with the Offering, the “Registration Rights
      Agreement”) at any time or if a “demand” registration statement is not declared
      effective by the SEC within the required 120 day period (as specified in the
      Registration Rights Agreement), the Holder may, in its sole discretion, exercise
      all or any part of the Warrant in a “cashless” or “net-issue” exercise (a
“Cashless
      Exercise”)
      by
      delivering to the Company (1) the Notice of Exercise and (2) the original
      Warrant, pursuant to which the Holder shall surrender the right to receive
      upon
      exercise of this Warrant, a number of Warrant Shares having a value (as
      determined below) equal to the Aggregate Exercise Price, in which case, the
      number of Warrant Shares to be issued to the Holder upon such exercise shall
      be
      calculated using the following formula:

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    
      	
              X
                

            	
              =

            	
              Y
                * (A - B)

                    A

            

    

    

    
      	
              with:

            	
              X
                =
                

            	
              the
                number of Warrant Shares to be issued to the Holder

            
	 	 	 
	 	
              Y
                =

            	
              the
                number of Warrant Shares with respect to which the Warrant is being
                exercised

            
	 	 	 
	 	
              A
                =

            	
              the
                fair market value per share of Common Stock on the date of exercise
                of
                this Warrant

            
	 	 	 
	 	
              B
                =

            	
              the
                then-current Exercise Price of the
                Warrant

            

    

    

    Solely
      for the purposes of this paragraph, “fair market value” per share of Common
      Stock shall mean (A) the average of the closing sales prices, as quoted on
      the
      primary national or regional stock exchange on which the Common Stock is listed,
      or, if not listed,
the
      OTC
      Bulletin Board if quoted thereon, on the twenty
      (20)
      trading days immediately preceding the date on which the Notice of Exercise
      is
      deemed to have been sent to the Company, or (B) if the Common Stock is not
      publicly traded as set forth above, as reasonably and in good faith determined
      by the Board of Directors of the Company as of the date which the Notice of
      Exercise is deemed to have been sent to the Company.

    

    Notwithstanding
      the foregoing provisions of this Section 1(b)(ii), the Holder may not make
      a
      Cashless Exercise if and to the extent that such exercise would require the
      Company to issue a number of shares of Common Stock in excess of its authorized
      but unissued shares of Common Stock, less all amounts of Common Stock that
      have
      been reserved for issue upon the conversion of all outstanding securities
      convertible into shares of Common Stock and the exercise of all outstanding
      options, warrants and other rights exercisable for shares of Common Stock.
      If
      the Company does not have the requisite number of authorized but unissued shares
      of Common Stock to permit the Holder to make a Cashless Exercise, the Company
      shall use commercially reasonable efforts to obtain the necessary stockholder
      consent to increase the authorized number of shares of Common Stock to permit
      such Holder to make a Cashless Exercise pursuant to this Section
      1(b)(ii).

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (iii) Upon
      the
      exercise of this Warrant in compliance with the provisions of this Section
      1(b),
      and except as limited pursuant to the last paragraph of Section 1(b)(ii), the
      Company shall promptly issue and cause to be delivered to the Holder a
      certificate for the Warrant Shares purchased by the Holder. Each
      exercise of this Warrant shall be effective immediately prior to the close
      of
      business on the date (the “Date
      of Exercise”)
      that
      the
      conditions set forth in Section 1(b) have been satisfied, as the case may be.
      On
      the
      first Business Day following the date on which the Company has received each
      of
      the Notice of Exercise and the Aggregate Exercise Price (or notice of a Cashless
      Exercise in accordance with Section 1(b)(ii)) (the “Exercise
      Delivery Documents”),
      the
      Company shall transmit an acknowledgment of receipt of the Exercise Delivery
      Documents to the Company’s transfer agent (the “Transfer
      Agent”).
      On or
      before the fifth
      Business
      Day following the date on which the Company has received all of the Exercise
      Delivery Documents (the “Share
      Delivery Date”),
      the
      Company shall (X) provided that the Transfer Agent is participating in The
      Depository Trust Company (“DTC”)
      Fast
      Automated Securities Transfer Program, upon the request of the Holder, credit
      such aggregate number of shares of Common Stock to which the Holder is entitled
      pursuant to such exercise to the Holder’s or its designee’s balance account with
      DTC through its Deposit Withdrawal Agent Commission system, or (Y) if the
      Transfer Agent is not participating in the DTC Fast Automated Securities
      Transfer Program, issue and dispatch by overnight courier to the address as
      specified in the Notice of Exercise, a certificate, registered in the Company’s
      share register in the name of the Holder or its designee, for the number of
      shares of Common Stock to which the Holder is entitled pursuant to such
      exercise. Upon delivery of the Exercise Delivery Documents, the Holder shall
      be
      deemed for all corporate purposes to have become the holder of record of the
      Warrant Shares with respect to which this Warrant has been exercised,
      irrespective of the date of delivery of the certificates evidencing such Warrant
      Shares. If this Warrant is submitted in connection with any exercise pursuant
      to
      Section 1(a) and the number of Warrant Shares represented by this Warrant
      submitted for exercise is greater than the actual
      number
      of
      Warrant Shares being acquired upon such an
      exercise, then the Company shall as soon as practicable and in no event later
      than five
      (5)
Business
      Days after any exercise and at its own expense, issue a new Warrant of
      like
      tenor
      representing the right to purchase the number of Warrant Shares purchasable
      immediately prior to such exercise under this Warrant, less the number of
      Warrant Shares with respect to which this Warrant is exercised.

    

    (iv) If
      the
      Company shall fail for any reason or for no reason to issue to the Holder,
      within five (5) Business Days of receipt of the Exercise Delivery Documents,
      a
      certificate for the number of shares of Common Stock to which the Holder is
      entitled and register such shares of Common Stock on the Company’s share
      register or to credit the Holder’s balance account with DTC for such number of
      shares of Common Stock to which the Holder is entitled upon the Holder’s
      exercise of this Warrant, and if on or after such Business Day the Holder
      purchases (in an open market transaction or otherwise) shares of Common Stock
      to
      deliver in satisfaction of a sale by the Holder of shares of Common Stock
      issuable upon such exercise that the Holder anticipated receiving from the
      Company (a “Buy-In”),
      then
      the Company shall, within five (5) Business Days after the Holder’s request and
      in the Holder’s discretion, either (i) pay cash to the Holder in an amount equal
      to the Holder’s total purchase price (including brokerage commissions, if any)
      for the shares of Common Stock so purchased (the “Buy-In
      Price”),
      at
      which point the Company’s obligation to deliver such certificate (and to issue
      such shares of Common Stock) shall terminate, or (ii) promptly honor its
      obligation to deliver to the Holder a certificate or certificates representing
      such shares of Common Stock and pay cash to the Holder in an amount equal to
      the
      excess (if any) of the Buy-In Price over the product of (A) such number of
      shares of Common Stock, times (B) the closing bid price on
      the
      date of exercise. 

    

    (c) Partial
      Exercise.
      This
      Warrant shall be exercisable, either in its entirety or, from time to time,
      for
      part only of the number of Warrant Shares referenced by this Warrant. If this
      Warrant is exercised in part, the Company shall issue, at its expense, a new
      Warrant, in substantially the form of this Warrant, referencing such reduced
      number of Warrant Shares that remain subject to this Warrant.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (d) Disputes.
      In the
      case of a dispute as to the determination of the Exercise Price or the
      arithmetic calculation of the Warrant Shares, the Company shall promptly issue
      to the Holder the number of Warrant Shares that are not disputed and resolve
      such dispute in accordance with Section 15.

    

    
      	
              2.

            	
              ISSUANCE
                OF WARRANT SHARES

            

    

    

    (a) The
      Company covenants that all Warrant Shares will, upon issuance in accordance
      with
      the terms of this Warrant, be (i) duly authorized, fully paid and
      non-assessable, and (ii) free from all liens, charges and security interests,
      with the exception of claims arising through the acts or omissions of any Holder
      and except as arising from applicable Federal and state securities
      laws.

    

    (b) The
      Company shall register this Warrant upon records to be maintained by the Company
      for that purpose in the name of the record holder of such Warrant from time
      to
      time. The Company may deem and treat the registered Holder of this Warrant
      as
      the absolute owner thereof for the purpose of any exercise thereof, any
      distribution to the Holder thereof and for all other purposes.

    

    (c) The
      Company will not, by amendment of its articles of incorporation, by-laws or
      through any reorganization, transfer of assets, consolidation, merger,
      dissolution, issue or sale of securities or any other voluntary action, avoid
      or
      seek to avoid the observance or performance of any of the terms to be observed
      or performed hereunder by the Company, but will at all times in good faith
      assist in the carrying out of all the provisions of this Warrant and in the
      taking of all action necessary or appropriate in order to protect the rights
      of
      the Holder to exercise this Warrant, or against impairment of such
      rights.

    

    
      	
              3.

            	
              ADJUSTMENTS
                OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT
                SHARES

            

    

    

    (a) The
      Exercise Price and the number of shares purchasable upon the exercise of this
      Warrant shall be subject to adjustment from time to time upon the occurrence
      of
      certain events described in this Section 3(a); provided,
      that
      notwithstanding the provisions of this Section 3, the Company shall not be
      required to make any adjustment if and to the extent that such adjustment would
      require the Company to issue a number of shares of Common Stock in excess of
      its
      authorized but unissued shares of Common Stock, less all amounts of Common
      Stock
      that have been reserved for issue upon the conversion of all outstanding
      securities convertible into shares of Common Stock and the exercise of all
      outstanding options, warrants and other rights exercisable for shares of Common
      Stock. If the Company does not have the requisite number of authorized but
      unissued shares of Common Stock to make any adjustment, the Company shall use
      its commercially reasonable efforts to obtain the necessary stockholder consent
      to increase the authorized number of shares of Common Stock to make such an
      adjustment pursuant to this Section 3(a).

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (i) Subdivision
      or Combination of Stock.
      In case
      the Company shall at any time subdivide (whether
      by way of stock dividend, stock split or otherwise) its
      outstanding shares of Common Stock into a greater number of shares, the Exercise
      Price in effect immediately prior to such subdivision shall be proportionately
      reduced
      and the
      number of Warrant Shares shall be proportionately increased, and conversely,
      in
      case the outstanding shares of Common Stock of the Company shall be combined
      (whether
      by way of stock combination, reverse stock split or otherwise) into
      a
      smaller number of shares, the Exercise Price in effect immediately prior to
      such
      combination shall be proportionately increased
      and the
      number of Warrant Shares shall be proportionately decreased. The Exercise Price
      and the Warrant Shares, as so adjusted, shall be readjusted in the same manner
      upon the happening of any successive event or events described in this Section
      3(a)(i).

    

    (ii) Dividends
      in Stock, Property, Reclassification.
      If at
      any time, or from time to time, the holders of Common Stock (or any shares
      of
      stock or other securities at the time receivable upon the exercise of this
      Warrant) shall have received or become entitled to receive, without payment
      therefore:

    

    (A) any
      shares of stock or other securities that are at any time directly or indirectly
      convertible into or exchangeable for Common Stock, or any rights or options
      to
      subscribe for, purchase or otherwise acquire any of the foregoing by way of
      dividend or other distribution, or

    

    (B) additional
      stock or other securities or property (including cash) by way of spin-off,
      split-up, reclassification, combination of shares or similar corporate
      rearrangement (other than shares of Common Stock issued as a stock split or
      adjustments in respect of which shall be covered by the terms of Section 3(a)(i)
      above),

    

    then
      and
      in each such case, the Exercise
      Price and the number of Warrant Shares to be obtained upon exercise of this
      Warrant shall be adjusted proportionately, and the Holder
      hereof shall, upon the exercise of this Warrant, be entitled to receive, in
      addition to the number of shares of Common Stock receivable thereupon, and
      without payment of any additional consideration therefor, the amount of stock
      and other securities and property (including cash in the cases referred to
      above) that such Holder would hold on the date of such exercise had such Holder
      been the holder of record of such Common Stock as of the date on which holders
      of Common Stock received or became entitled to receive such shares or all other
      additional stock and other securities and property.
      The
      Exercise Price and the Warrant Shares, as so adjusted, shall be readjusted
      in
      the same manner upon the happening of any successive event or events described
      in this Section 3(a)(ii).

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (iii) Reorganization,
      Reclassification, Consolidation, Merger or Sale.
      If any
      recapitalization, reclassification or reorganization of the capital stock of
      the
      Company, or any consolidation or merger of the Company with another corporation,
      or the sale of all or substantially all of its assets or other
      transaction shall be effected in such a way that holders of Common Stock shall
      be entitled to receive stock, securities or other assets or property (an
“Organic
      Change”),
      then
      lawful and adequate provisions shall be made by the Company whereby the Holder
      hereof shall thereafter have the right to purchase and receive (in lieu of
      the
      shares of the Common Stock of the Company immediately theretofore purchasable
      and receivable upon the exercise of the rights represented by this Warrant)
      such
      shares of stock, securities or other assets or property as may be issued or
      payable with respect to or in exchange for a number of outstanding shares of
      such Common Stock equal to the number of shares of such stock immediately
      theretofore purchasable and receivable assuming the full exercise of the rights
      represented by this Warrant. In the event of any Organic Change, appropriate
      provision shall be made by the Company with respect to the rights and interests
      of the Holder of this Warrant to the end that the provisions hereof (including,
      without limitation, provisions for adjustments of the Exercise Price and of
      the
      number of shares purchasable and receivable upon the exercise of this Warrant)
      shall thereafter be applicable, in relation to any shares of stock, securities
      or assets thereafter deliverable upon the exercise hereof. To the extent
      necessary to effect the foregoing provisions, the successor corporation (if
      other than the Company) resulting from such consolidation or merger
      or
the
      corporation purchasing such assets shall assume by written instrument reasonably
      satisfactory in form and substance to the Holder executed and mailed or
      delivered to the registered Holder hereof at the last address of such Holder
      appearing on the books of the Company, the obligation to deliver to such Holder
      such shares of stock, securities or assets as, in accordance
      with the foregoing provisions, such Holder may be entitled to
      purchase. If
      there
      is an Organic Change, then the Company shall cause to be mailed to the Holder
      at
      its last address as it shall appear on the books and records of the Company,
      at
      least 10 calendar days before the effective date of the Organic Change, a notice
      stating the date on which such Organic Change is expected to become effective
      or
      close, and the date as of which it is expected that holders of the Common Stock
      of record shall be entitled to exchange their shares for securities, cash,
      or
      other property delivered upon such Organic Change; provided,
      that
      the failure to mail such notice or any defect therein or in the mailing thereof
      shall not affect the validity of the corporate action required to be specified
      in such notice. The Holder is entitled to exercise this Warrant during the
      10-day period commencing on the date of such notice to the effective date of
      the
      event triggering such notice. In
      any
      event, the successor corporation (if other than the Company) resulting from
      such
      consolidation or merger or the corporation purchasing such assets shall be
      deemed to assume such obligation to deliver to such Holder such shares of stock,
      securities or assets even in the absence of a written instrument assuming such
      obligation to the extent such assumption occurs by operation of law. 

    

    (b) Certificate
      as to Adjustments.
      Upon
      the occurrence of each adjustment or readjustment pursuant to this Section
      3,
      the Company at its expense shall promptly compute such adjustment or
      readjustment in accordance with the terms hereof and furnish to each Holder
      of
      this Warrant a certificate setting forth such adjustment or readjustment and
      showing in detail the facts upon which such adjustment or readjustment is based.
      The Company shall
      promptly
      furnish
      or cause to be furnished to such Holder a like certificate setting forth: (i)
      such adjustments and readjustments; and (ii) the number of shares and the
      amount, if any, of other property which at the time would be received upon
      the
      exercise of the Warrant.

    

    (c) Certain
      Events.
      If any
      event occurs as to which the other provisions of this Section 3 are not strictly
      applicable but the lack of any adjustment would not fairly protect the purchase
      rights of the Holder under this Warrant in accordance with the basic intent
      and
      principles of such provisions, or if strictly applicable would not fairly
      protect the purchase rights of the Holder under this Warrant in accordance
      with
      the basic intent and principles of such provisions, then the Company's Board
      of
      Directors will, in good faith and subject to applicable law, make an appropriate
      adjustment to protect the rights of the Holder; provided,
      that no
      such adjustment pursuant to this Section 3(c) will increase the Exercise Price
      or decrease the number of Warrant Shares as otherwise determined pursuant to
      this Section 3.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    (d) Adjustment
      of Exercise Price Upon Issuance of Additional Shares of Common
      Stock.
      In the
      event the Company shall at any time prior to the Expiration Date issue
      Additional Shares of Common Stock, as defined below, without consideration
      or
      for a consideration per share less than the Exercise Price in effect immediately
      prior to such issue, then the Exercise Price shall be reduced, concurrently
      with
      such issue, to a price (calculated to the nearest cent) determined by
      multiplying such Exercise Price by a fraction, (A) the numerator of which shall
      be (1) the number of shares of Common Stock outstanding immediately prior to
      such issue plus (2) the number of shares of Common Stock which the aggregate
      consideration received or to be received by the Company for the total number
      of
      Additional Shares of Common Stock so issued would purchase at such Exercise
      Price; and (B) the denominator of which shall be the number of shares of Common
      Stock outstanding immediately prior to such issue plus the number of such
      Additional Shares of Common Stock so issued; provided
      that,
      (i) for the purpose of this Section 3(d), all shares of Common Stock issuable
      upon conversion or exchange of convertible securities outstanding immediately
      prior to such issue shall be deemed to be outstanding, and (ii) the number
      of
      shares of Common Stock deemed issuable upon conversion or exchange of such
      outstanding convertible securities shall be determined without giving effect
      to
      any adjustments to the conversion or exchange price or conversion or exchange
      rate of such convertible securities resulting from the issuance of Additional
      Shares of Common Stock that is the subject of this calculation. For purposes
      of
      this Warrant, “Additional Shares of Common Stock” shall mean all shares of
      Common Stock issued by the Company after the Effective Date (including without
      limitation any shares of Common Stock issuable upon conversion or exchange
      of
      any convertible securities or upon exercise of any option or warrant, on an
      as-converted basis), other than: (i) shares of Common Stock issued or
      issuable upon conversion or exchange of any convertible securities or exercise
      of any options outstanding on the Effective Date; (ii) shares of Common Stock
      issued or issuable upon conversion of the warrants issued in connection with
      the
      Offering; (iii) shares of Common Stock issued or issuable by reason of a
      dividend, stock split, split-up or other distribution on shares of Common Stock
      that is covered by Sections 3(a)(i) through 3(a)(iii) above; (iv) shares of
      Common Stock issued in a registered public offering under the Securities Act;
      (v) shares of Common Stock issued or issuable pursuant to the acquisition of
      another corporation by the Corporation by merger, purchase of substantially
      all
      of the assets or other reorganization or to a joint venture agreement; or
      (vi) shares of Common Stock issued or issuable to officers, directors and
      employees of, or consultants to, the Company pursuant to stock grants, option
      plans, purchase plans or other employee stock incentive programs or arrangements
      approved by the Board of Directors, or upon exercise of options or warrants
      granted to such parties pursuant to any such plan or arrangement;. The
      provisions of this Section 3(d) shall not operate to increase the Exercise
      Price.

    

    
      	
              4.

            	
              TRANSFERS
                AND EXCHANGES OF WARRANT AND WARRANT
                SHARES

            

    

    

    (a) Registration
      of Transfers and Exchanges.
      Subject
      to Section 4(c), upon the Holder’s surrender of this Warrant, with a duly
      executed copy of the Form of Assignment attached as Exhibit
      B,
      to the
      Secretary of the Company at its principal offices or at such other office or
      agency as the Company may specify in writing to the Holder, the Company shall
      register the transfer of all or any portion of this Warrant. Upon such
      registration of transfer, the Company shall issue a new Warrant, in
      substantially the form of this Warrant, evidencing the acquisition rights
      transferred to the transferee and a new Warrant, in similar form, evidencing
      the
      remaining acquisition rights not transferred, to the Holder requesting the
      transfer.

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    (b) Warrant
      Exchangeable for Different Denominations.
      The
      Holder may exchange this Warrant for a new Warrant or Warrants, in substantially
      the form of this Warrant, evidencing in the aggregate the right to purchase
      the
      number of Warrant Shares, which may then be purchased hereunder, each of such
      new Warrants to be dated the date of such exchange and to represent the right
      to
      purchase such number of Warrant Shares as shall be designated by the Holder.
      The
      Holder shall surrender this Warrant with duly executed instructions regarding
      such
      re-certification of this Warrant to the Secretary of the Company at its
      principal offices or at such other office or agency as the Company may specify
      in writing to the Holder.

    

    (c) Restrictions
      on Transfers.
      This
      Warrant may not be transferred at any time without (i) registration under the
      Securities Act or (ii) an exemption from such registration and a written opinion
      of legal counsel addressed to the Company that the proposed transfer of the
      Warrant may be effected without registration under the Securities Act, which
      opinion will be in form and from counsel reasonably satisfactory to the
      Company.

    

    (d) Permitted
      Transfers and Assignments.
      Notwithstanding any provision to the contrary in this Section 4, the Holder
      may
      transfer, with or without consideration, this Warrant or any of the Warrant
      Shares (or a portion thereof) to the Holder’s Affiliates (as such term is
      defined under Rule 144 of the Securities Act) without obtaining the opinion
      from
      counsel that may be required by Section 4(c)(ii), provided,
      that the
      Holder delivers to the Company and its counsel certification, documentation,
      and
      other assurances reasonably required by the Company’s counsel to enable the
      Company’s counsel to render an opinion to the Company’s Transfer Agent that such
      transfer does not violate applicable securities laws.

    

    
      	
              5.

            	
              MUTILATED
                OR MISSING WARRANT CERTIFICATE

            

    

    

    If
      this
      Warrant is mutilated, lost, stolen or destroyed, upon request by the Holder,
      the
      Company will, at its expense,
      issue,
      in exchange for and upon cancellation of the mutilated Warrant, or in
      substitution for the lost, stolen or destroyed Warrant, a new Warrant, in
      substantially the form of this Warrant, representing the right to acquire the
      equivalent number of Warrant Shares; provided,
      that,
      as a prerequisite to the issuance of a substitute Warrant, the Company may
      require satisfactory evidence of loss, theft or destruction as well as an
      indemnity from the Holder of a lost, stolen or destroyed Warrant.

    

    
      	
              6.

            	
              PAYMENT
                OF TAXES

            

    

    

    The
      Company will pay all transfer and stock issuance taxes attributable to the
      preparation, issuance and delivery of this Warrant and the Warrant Shares
(and
      replacement Warrants) including,
      without limitation, all documentary and stamp taxes; provided,
      however,
      that
      the Company shall not be required to pay any tax in respect of the transfer
      of
      this Warrant, or the issuance or delivery of certificates for Warrant Shares
      or
      other securities in respect of the Warrant Shares to any person or entity other
      than to the Holder.

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    
      	7.	
              FRACTIONAL
                WARRANT SHARES

            

    

    

    No
      fractional Warrant Shares shall be issued upon exercise of this Warrant. The
      Company, in lieu of issuing any fractional Warrant Share, shall round up the
      number of Warrant Shares issuable to nearest whole share.

    

    
      	
              8.

            	
              NO
                STOCK RIGHTS AND LEGEND

            

    

    

    No
      holder
      of this Warrant, as such, shall be entitled to vote or be deemed the holder
      of
      any other securities of the Company that may at any time be issuable on the
      exercise hereof, nor shall anything contained herein be construed to confer
      upon
      the holder of this Warrant, as such, the rights of a stockholder of the Company
      or the right to vote for the election of directors or upon any matter submitted
      to stockholders at any meeting thereof,
      or give
      or withhold consent to any corporate action or to receive notice of meetings
      or
      other actions affecting stockholders (except as provided herein), or to receive
      dividends or subscription rights or otherwise (except as provide
      herein).

    

    Each
      certificate for Warrant Shares initially issued upon the exercise of this
      Warrant, and each certificate for Warrant Shares issued to any subsequent
      transferee of any such certificate, shall be stamped or otherwise imprinted
      with
      a legend in substantially the following form:

    

    “THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS,
      AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
      PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT
      WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE
      SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE
      COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH
      COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH
      SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER
      CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR
      APPLICABLE STATE SECURITIES LAWS.”

    

    
      	
              9.

            	
              REGISTRATION
                UNDER THE SECURITIES ACT OF 1933

            

    

    

    The
      Company agrees to provide registration rights for the resale of the Warrant
      Shares under the Securities Act on the terms and subject to the conditions
      set
      forth in the Registration Rights Agreement between the Company and each of
      the
investors party
      to the
      subscription agreements substantially similar to
      the
      Subscription Agreement, pursuant to which this Warrant was issued.

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    
      	10.	
              NOTICES

            

    

    

    All
      notices, consents, waivers, and other communications under this Warrant must
      be
      in writing and will be deemed given to a party when (a) delivered to the
      appropriate address by hand or by nationally recognized overnight courier
      service (costs prepaid); (b) sent by facsimile or e-mail with confirmation
      of
      transmission by the transmitting equipment; (c) received or rejected by the
      addressee, if sent by certified mail, return receipt requested, if to the
      registered Holder hereof; or (d) seven days after the placement of the notice
      into the mails (first class postage prepaid), to the Holder at the address,
      facsimile number, or e-mail address furnished by the registered Holder to the
      Company in accordance with the Subscription Agreement by and between the Company
      and the Holder, or if to the Company, to it at 7080 Donlon Way, Suite 109,
      Dublin, A 94568, Attention: David Kaval, Chief Executive Officer (or to such
      other address, facsimile number, or e-mail address as the Holder or the Company
      as a party may designate by notice the other party) with a copy to Wilson
      Sonsini Goodrich & Rosati, 650 Page Mill Road, Palo Alto, CA 94304,
      Attention: Jack Sheridan.

    

    
      	
              11.

            	
              SEVERABILITY

            

    

    

    If
      a
      court of competent jurisdiction holds any provision of this Warrant invalid
      or
      unenforceable, the other provisions of this Warrant will remain in full force
      and effect. Any provision of this Warrant held invalid or unenforceable only
      in
      part or degree will remain in full force and effect to the extent not held
      invalid or unenforceable.

    

    
      	
              12.

            	
              BINDING
                EFFECT

            

    

    

    This
      Warrant shall be binding upon and inure to the sole and exclusive benefit of
      the
      Company, its successors and assigns, the registered Holder or Holders from
      time
      to time of this Warrant and the Warrant Shares.

    

    
      	
              13.

            	
              SURVIVAL
                OF RIGHTS AND DUTIES

            

    

    

    This
      Warrant shall terminate and be of no further force and effect on the earlier
      of
      5:00 P.M., Eastern Time, on the Expiration Date or the date on which this
      Warrant has been exercised in full.

    

    
      	
              14.

            	
              GOVERNING
                LAW

            

    

    

    This
      Warrant will be governed by and construed under the laws of the State of
[New
      York] without regard to conflicts of laws principles that would require the
      application of any other law.

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    
      	
              15.

            	
              DISPUTE
                RESOLUTION

            

    

    

    In
      the
      case of a dispute as to the determination of the Exercise Price or the
      arithmetic calculation of the Warrant Shares, the Company shall submit the
      disputed determinations or arithmetic calculations via facsimile within
five
      (5)
      Business
      Days of receipt of the Notice of Exercise giving rise to such dispute, as the
      case may be, to the Holder. If the Holder and the Company are unable to agree
      upon such determination or calculation of the Exercise Price or the Warrant
      Shares within three Business Days of such disputed determination or arithmetic
      calculation being submitted to the Holder, then the Company shall, at its sole
      discretion, within five (5) Business Days, submit via facsimile (a) the disputed
      determination of the Exercise Price to an independent, reputable investment
      bank
      selected by the Company and approved by the Holder, or (b) the disputed
      arithmetic calculation of the Warrant Shares to the Company’s independent,
      outside accountant. The Company shall cause at its expense the investment bank
      or the accountant, as the case may be, to perform the determinations or
      calculations and notify the Company and the Holder of the results no later
      than
      ten (10) Business Days from the time it receives the disputed determinations
      or
      calculations; provided that, if such disputed determination or arithmetic
      calculation being submitted by the Holder is determined to be incorrect, then
      the expense of the investment bank or the accountant shall be the responsibility
      of the Holder. Such investment bank’s or accountant’s determination or
      calculation, as the case may be, shall be final, binding and conclusive upon
      the
      parties thereto. 

    

    
      	
              16.

            	
              NOTICES
                OF RECORD DATE

            

    

    

    Upon
      (a)
      any establishment by the Company of a record date of the holders of any class
      of
      securities for the purpose of determining the holders thereof who are entitled
      to receive any dividend or other distribution, or right or option to acquire
      securities of the Company, or any other right, or (b) any capital
      reorganization, reclassification, recapitalization, merger or consolidation
      of
      the Company with or into any other corporation, any transfer of all or
      substantially all the assets of the Company, or any voluntary or involuntary
      dissolution, liquidation or winding up of the Company, or the sale, in a single
      transaction, of a majority of the Company’s voting stock (whether newly issued,
      or from treasury, or previously issued and then outstanding, or any combination
      thereof), the Company shall mail to the Holder at least ten (10) Business Days,
      or such longer period as may be required by law, prior to the record date
      specified therein, a notice specifying (i) the date established as the record
      date for the purpose of such dividend, distribution, option or right and a
      description of such dividend, option or right, (ii) the date on which any such
      reorganization, reclassification, transfer, consolidation, merger, dissolution,
      liquidation or winding up, or sale is expected to become effective and (iii)
      the
      date, if any, fixed as to when the holders of record of Common Stock shall
      be
      entitled to exchange their shares of Common Stock for securities or other
      property deliverable upon such reorganization, reclassification, transfer,
      consolation, merger, dissolution, liquidation or winding up.

    

    
      	
              17.

            	
              RESERVATION
                OF SHARES

            

    

    

    The
      Company shall reserve and keep available out of its authorized but unissued
      shares of Common Stock for issuance upon the exercise of this Warrant, free
      from
      pre-emptive rights, such number of shares of Common Stock for which this Warrant
      shall from time to time be exercisable.
      The
      Company will take all such reasonable action as may be necessary to assure
      that
      such Warrant Shares may be issued as provided herein without violation of any
      applicable law or regulation. Without limiting the generality of the foregoing,
      the Company covenants that it will use commercially reasonable efforts to take
      all such action as may be necessary or appropriate in order that the Company
      may
      validly and legally issue fully paid and non-assessable Warrant Shares upon
      the
      exercise of this Warrant and use commercially reasonable efforts to obtain
      all
      such authorizations, exemptions or consents, including but not limited to
      consents from the Company’s stockholders or Board of Directors or any public
      regulatory body, as may be necessary to enable the Company to perform its
      obligations under this Warrant.

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    
      	
              18.

            	
              HEADINGS

            

    

    

    The
      headings used in this Warrant are for the convenience of reference only and
      shall not, for any purpose, be deemed a part of this Warrant.

    

    
      	
              19.

            	
              AMENDMENT
                AND WAIVERS

            

    

    

    Any
      term
      of this Warrant may be amended and the observance of any term of this Agreement
      may be waived (either generally or in a particular instance and either
      retroactively or prospectively), with the written consent of the Company and
      the
      Holders of a majority of the Warrant Shares issuable upon exercise of the
      Warrants.

    

    
      	
              20.

            	
              NO
                THIRD PARTY RIGHTS

            

    

    

    This
      Warrant is not intended, and will not be construed, to create any rights in
      any
      parties other than the Company and the Holder, and no person or entity may
      assert any rights as third-party beneficiary hereunder.

    

    SIGNATURE
      PAGE FOLLOWS

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Company has caused this Warrant to be duly executed as
      of
      the date first set forth above.

    

    
      	
              LA
                CORTEZ ENERGY, INC.

            	 
	 	 	 
	
              By:
                

            	 	 
	
              Name:

            	
              Andres
                Gutierrez

            	 
	
              Title:

            	
              Chief
                Executive Officer

            	 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    NOTICE
      OF
      EXERCISE

    

    (To
      be
      executed by the Holder of Warrant if such Holder
      desires
      to exercise Warrant)

    

    To
      La
      Cortez Energy, Inc.:

    

    The
      undersigned hereby irrevocably elects to exercise this Warrant and to purchase
      thereunder, ___________________ full shares of La Cortez Energy, Inc. common
      stock issuable upon exercise of the Warrant and delivery of:

    

    (1) $_________
      (in cash as provided for in the foregoing Warrant) and any applicable taxes
      payable by the undersigned pursuant to such Warrant; and

    

    (2) __________
      shares of Common Stock (pursuant to a Cashless Exercise in accordance with
      Section 1(b)(ii) of the Warrant) (check here if the undersigned desires to
      deliver an unspecified number of shares equal the number sufficient to effect
      a
      Cashless Exercise [___]).

    

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

    

    _________________________________________

    (Please
      print name, address and social security or federal employer

    identification
      number (if applicable))

    

    _________________________________________

    

    _________________________________________

    

    If
      the
      shares issuable upon this exercise of the Warrant are not all of the Warrant
      Shares which the Holder is entitled to acquire upon the exercise of the Warrant,
      the undersigned requests that a new Warrant evidencing the rights not so
      exercised be issued in the name of and delivered to:

    

    _________________________________________

    (Please
      print name, address and social security or federal employer

    identification
      number (if applicable))

    

    _________________________________________

    

    _________________________________________

     

    
      	
              Name
                of Holder (print): ___________________________

            
	
              (Signature):
                ____________________________________

            
	
              (By:)
                _________________________________________

            
	
              (Title:)
                ________________________________________

            
	
              Dated:
                ________________________________________

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    

    FORM
      OF
      ASSIGNMENT

    

    FOR
      VALUE
      RECEIVED, ___________________________________ hereby sells, assigns and
      transfers to each assignee set forth below all of the rights of the undersigned
      under the Warrant (as defined in and evidenced by the attached Warrant) to
      acquire the number of Warrant Shares set opposite the name of such assignee
      below and in and to the foregoing Warrant with respect to said acquisition
      rights and the shares issuable upon exercise of the Warrant:

     

    
      	
              Name
                of Assignee

            	 	
              Address

            	 	
              Number
                of Shares

            
	
               

            	 	 	 	 
	
               

            	 	 	 	 
	
               

            	 	 	 	 
	
               

            	 	 	 	 

    

    

    If
      the
      total of the Warrant Shares are not all of the Warrant Shares evidenced by
      the
      foregoing Warrant, the undersigned requests that a new Warrant evidencing the
      right to acquire the Warrant Shares not so assigned be issued in the name of
      and
      delivered to the undersigned.

    

    
      	
              Name
                of Holder (print): ___________________________

            
	
              (Signature):
                ____________________________________

            
	
              (By:)
                _________________________________________

            
	
              (Title:)
                ________________________________________

            
	
              Dated:
                ________________________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]