Document:

exv10w37

Exhibit
10.37

SERVICES AGREEMENT

This
Agreement is entered into by and between General Atomics, a
California corporation (“GA”) and
Oceanic Exploration Company, a Delaware corporation
(“Oceanic”) and is effective October 1, 2006
(the “Effective Date”).

RECITALS

WHEREAS, Oceanic wishes GA to provide it with administrative services and GA is willing to provide
such services.

NOW THEREFORE, in consideration of the promises, mutual covenants and agreements herein contained,
the parties hereto agree as follows:

1. Scope of Services. GA (through its law department) shall provide legal and litigation
management services related to Oceanic’s litigation over oil and gas rights in the Timor Sea (the
“Litigation”) which may be requested from time to time by Oceanic. It is expressly understood and
agreed that the GA law department, after consultation with Oceanic, may direct other GA employees
to assist in providing these services.

2. Term. This Agreement shall commence as of the Effective Date. It will terminate (i)
automatically when the Litigation is over, or (ii) when terminated in accordance with Paragraph 10,
whichever comes first. Oceanic will give GA notice when the
Litigation is over.

3. Consideration/Payment. The services provided to Oceanic by GA under Paragraph 1 shall
be billed at cost per GA cost allocation practices. Payments to GA for services rendered will both
be due and payable in full no later than 30 days after the invoice date. All payments made pursuant
to this Agreement will be in U.S. Dollars and will be paid by wire transfer to the account
designated on the GA invoice.

4. Limitation of Liability and Indemnity. Each party hereto shall use its best efforts in
the performance of its obligations under this Agreement; and, provided it has done so, shall not be
liable to the other party for any loss or damage of whatever nature sustained by the other party,
as a result of such performance. Each party shall indemnify and hold harmless the other party from
any and all claims from third parties arising out of its performance hereunder. The provision of
this Paragraph 4 shall apply notwithstanding any conflicting provision(s) of any other agreement
and to the full extent permitted by law and regardless of fault.

5. Standards
and Remedies. If the performance of any tasks by GA under this Agreement was
not in accordance with that which could be reasonably expected, Oceanic will give GA prompt notice
and GA will, if practicable at that time, re-perform the non-complying portion of the work in
accordance with the terms of this Agreement. Such re-performance by GA shall be Oceanic’s exclusive
remedy and shall be GA’s sole obligation. GA shall not be responsible for the use of or the
inability to use any information furnished in conjunction with the work performed hereunder.

THE EXPRESS UNDERSTANDING AND THE REMEDY SET FORTH IN THIS PARAGRAPH 5 ARE EXCLUSIVE AND NO
WARRANTIES OR REMEDIES OF ANY KIND, WHETHER STATUTORY, WRITTEN, ORAL, EXPRESSED OR IMPLIED,
INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR USAGE SHALL
APPLY.

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6. Conflict
of Interest. If in rendering services hereunder either party at any time
has reason to believe that such services may involve matters as to which the respective interests
of the parties may differ, the concerned party shall immediately advise the other and call
attention to any possible means by which such differences may be reconciled.

7. Action
by the Parties. Each party hereto shall not be responsible for the acts or
omissions of the employees, contractors, subcontractors, or agents of the other party and, except
as may be otherwise stated in a separate agreement, shall not be liable for any property damage or
personal injury caused by any act or failure to act by such employees, contractors, subcontractors
or agents of the other party.

8. Assignment. The delegating or assigning by either party hereto of any or all of its
duties or rights hereunder may be made only with the written consent of the other party.

9. Applicable Law. The rights and obligations of the parties hereto shall be interpreted
in accordance with and governed in all aspects by the laws of the State of Delaware.

10. Termination. Either party hereto may terminate this Agreement at any time by
providing notice in writing at least thirty (30) calendar days in advance of the effective date of
such termination. Paragraph 4 and Paragraph 7 shall survive termination of this Agreement as long
as is permitted by law.

11. Severability. In the event that any one or more provisions contained herein will be
held by a court of competent jurisdiction to be invalid, illegal or unenforceable in any respect,
the validity, legality and enforceability of the remaining provisions contained herein will not in
any way be affected or impaired thereby and the parties agree to replace such invalid, illegal or
unenforceable term or provision with an enforceable and valid arrangement that, in its economic
effect, will be as close as possible to the invalid, illegal or unenforceable term or provision.

12. Entire Agreement. This Agreement contains the entire agreement between the parties
hereto with respect to the subject matter set forth herein and supersedes any and all other
agreement, oral or written, in respect to the subject matter hereof. This Agreement shall not be
modified or amended except by an instrument in writing signed by an authorized representative of
both parties.

	 	 	 	 	 	 	 	 	 	 	 
	GA	 	 	 	OCEANIC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Anthony Navarra
 

Anthony Navarra
	 	 
	 	By:
	 	/s/ Charles Haas
 

Charles Haas
	 	 
	 

	 	Treasurer
	 	 	 	 	 	President	 	 

2exv10w38

Exhibit 10.38

SUBLEASE AGREEMENT

     This Sublease Agreement is entered into effective as of April 1, 2008 by and between
Cordillera Corporation (Sublessor”) and Oceanic Exploration Company (“Sublessee”).

     WHEREAS Sublessor entered into an Office Building Lease with Sorrento West Properties, Inc.
(the “Owner”) dated April 1, 2002, as amended by Amendment to and Extension of Office Building
Lease dated April 1, 2007 and Second Amendment to Office Building Lease dated January 1, 2008 (the
“Master Lease”); and

     WHEREAS the Master Lease provides for Sublessor’s use of 7,033 square feet (the “Premises”) in
a building located at 7800 E. Dorado Place, Englewood, Colorado 80111 (the “Building”), and

     WHEREAS Sublessor and Sublessee desire to enter into a Sublease Agreement providing for
Sublessee’s use of 940 rentable square feet of space leased by Sublessor pursuant to the Master
Lease.

     NOW THEREFORE, Sublessor and Sublessee agree as follows:

     1. Subleased Premises. Sublessor in consideration of the rents and covenants
contained in this Sublease does hereby sublease to Sublessee and Sublessee does hereby sublease
from Sublessor the premises described as “C” in Exhibit A attached hereto and made a part hereof
(the “Subleased Premises”). The Subleased Premises contain 940 rentable square feet.

     2. Term. The initial term of this Sublease shall commence April 1, 2008 and terminate
on October 31, 2008 unless terminated earlier as set forth herein.

     3. Renewal Option. Upon expiration of the initial term of this Sublease the Sublessor
and Sublessee may extend the term of the Sublease upon terms and conditions mutually agreed to by
the parties.

     4. Use. The Subleased Premises shall be used by Sublessee for the purpose of storing
geological, seismic and other related data and for no other purpose unless agreed to in writing by
Sublessor.

     5. Master Lease. This Sublease is subject to the Master Lease. Sublessee shall
comply with all applicable terms and conditions of the Master Lease.

     6. Rent. During the initial term of this Sublease, Sublessee shall pay to Sublessor
rent at the rate of $16.32 per square foot for a monthly rent of One Thousand Two Hundred
Seventy-Eight and 40/100 Dollars ($1,278.40). Rent is due on the first day of each month.

 

 

     7. Quiet Possession. Sublessor agrees that Sublessee, on paying the rent and
performing the covenants in this Sublease, shall have quiet possession of the Subleased Premises
for the initial term and any renewal of this Sublease.

     8. Care of Premises. Sublessee accepts the Premises in “as is” condition and agrees
to keep the Subleased Premises in good clean condition during the initial term and any renewal of
this Sublease.

     9. Surrender of Premises. Sublessee will, at the expiration of this Sublease, remove
all of its personal property and equipment from the Subleased Premises and will yield and surrender
the Subleased Premises to the Sublessor in the same good condition that existed when Sublessee took
them, normal wear and tear and damage excepted.

     10. Alterations. Sublessee shall make no change, alteration, modification, or
addition to the Subleased Premises without the prior written consent of the Sublessor. Sublessee
shall keep the Subleased Premises free of any and all mechanics’, materialmen’s, and other liens
arising out of any work, labor done, services performed, or materials furnished for Sublessee or
claimed to have been furnished during the term of this Sublease.

     11. Insurance. Sublessee shall during the initial term and any renewal thereof keep
in force and effect at its sole cost and expense the types and amounts of insurance as set forth in
Section 4.03 of the Master Lease.

     12. Indemnification. Sublessee shall indemnify and hold Sublessor harmless from and
against any and all claims arising from Sublessee’s use of the Subleased Premises or from the
conduct of its business or from any activity, work, or other things done, permitted or suffered by
the Sublessee in or about the Subleased Premises; any breach or default in the performance of any
obligation on Sublessee’s part to be performed under the terms of this Sublease or arising from any
act or negligence of the Sublessee, or any officer, agent, employee, guest, or invitee of
Sublessee; and, from all costs, attorneys’ fees, and liabilities incurred in the defense of any
such claim or any action or proceeding brought against, out of, or in any way related to, this
Sublease. Sublessee hereby assumes all risk of damage to property or injury to persons in, upon or
about the Subleased Premises, from any cause excepting only Sublessor’s negligence or intentional
misconduct and, to the extend hereof, Sublessee waives all claims against Sublessor. Sublessee
shall give prompt notice to Sublessor in case of casualty or accidents in the Subleased Premises.

     13. Right of Entry. Sublessor and Owner shall have the right upon reasonable notice
to enter the Subleased Premises during all business hours (except in emergency situations when
entry shall be immediate) for the purposes of inspecting or making repairs, additions, or
alterations to the Subleased Premises or to the Building, or for the purpose of showing the
Subleased Premises to prospective purchasers, and others.

     14. Damage. In the event the Building is substantially damaged or destroyed by fire
or other casualty so as to render the Subleased Premises untenantable, either the

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Sublessor or Sublessee may terminate this Sublease upon written notice to the other party
given within thirty (30) days of such damage or destruction. In the event that this Sublease is
not so terminated or if an inconsequential portion of the Subleased Premises is so damaged or
destroyed, then the Sublessor shall rebuild and restore the Subleased Premises to the condition
that existed immediately prior to such damage or destruction, using reasonable diligence to
accomplish the restoration, subject to the provisions of Section 6.05 of the Master Lease. Rent
during the restoration period shall abate for any portion of the Subleased Premises, which is
unusable to the Sublessee, unless the misuse or abuse of the Subleased Premises by the Sublessee,
its agents, representatives, invitees, or employees caused such damage or destruction.

     15. Default. In the event of a default by Sublessee of any term or condition
contained in this Sublease, Sublessee shall be entitled to a fifteen (15) day written notice
specifying the nature of the default. In the event the default is not corrected within the fifteen
(15) day period, or a cure commenced for the default requiring more than fifteen (15) days to cure
with Sublessee diligently pursuing correction, the Sublessor may elect to (1) terminate this
Sublease immediately and the obligations of the parties hereto shall cease or (2) if the default
can be cured by the expenditure of money may, but without obligation, and without limiting any
other remedies that Sublessor may have by reason of such default, cure the default and charge such
cost to the Sublessee, and the Sublessee shall pay the same immediately upon demand. Default
situations by the Sublessee shall include filing or having filed against it any bankruptcy,
insolvency or similar proceeding that is not dismissed within thirty (30) days after filing, or
making an assignment for the benefit of its creditors.

     16. Compliance with Rules and Regulations. Sublessee shall comply with all laws,
ordinances, rules and regulations of the City of Greenwood Village, the County of Arapahoe and any
other governmental entity having jurisdiction over the Building or the Subleased Premises.
Sublessee shall also comply with all rules and regulations affecting the Building or the Subleased
Premises currently existing or that may be imposed in the future by the Owner.

     17. Amendments. This Sublease shall be amended or modified only by an agreement in
writing executed by the parties hereto.

     18. Assignment or Subsublease. This Sublease may not be assigned or subleased by
Sublessee without the prior written consent of Sublessor and the Owner. Absent the written consent
of Sublessor and the Owner, an assignment or sublease shall not release from its obligations under
this Sublease. Any assignment or sublease attempted to be made in violation of this Sublease shall
be void. The terms of this Sublease shall bind and inure to the benefit of the parties hereto and
their respective successors.

     19. Governing Law. This Sublease shall be governed by and construed in accordance
with the laws of the State of Colorado.

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     20. Notices. All notices, requests and other communications that a party is required
or elects to deliver shall be in writing and shall be delivered personally, or by facsimile or
electronic mail (provided such delivery is confirmed), or by a recognized overnight courier service
or by United States mail, first-class, certified or registered, postage prepaid, return receipt
requested, to the other party at its address set forth below or to such other address as such party
may designate by notice given pursuant to this section.

	 	 	 	 	 
	 

	 	If to Sublessor:
	 	Cordillera Corporation
	 

	 	 	 	7800 E. Dorado Place, Suite 250
	 

	 	 	 	Englewood, CO 80111
	 

	 	 	 	Fax: 303-779-8644
	 

	 	 	 	E-mail: cordillera@oceanicexploration.com
	 
	 	 	 	 
	 

	 	If to Sublessee:
	 	Oceanic Exploration Company
	 

	 	 	 	7800 E. Dorado Place, Suite 250
	 

	 	 	 	Englewood, CO 80111
	 

	 	 	 	Fax: 303-779-8644
	 

	 	 	 	E-mail: cordillera@oceanicexploration.com

     IN WITNESS WHEREOF, the Sublessor and Sublessee have executed this Sublease Agreement on the
day and year first above written.

	 	 	 	 	 	 	 	 	 	 	 
	SUBLESSOR:	 	 	 	SUBLESSEE:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	CORDILLERA CORPORATION	 	 	 	OCEANIC EXPLORATION COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Nicole J. Champine
 

Nicole J. Champine
	 	 
	 	By:
	 	/s/ Janet Holle
 

Janet Holle
	 	 
	 

	 	Vice President and General Counsel
	 	 	 	 	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	ACCEPTED BY OWNER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	SORRENTO WEST PROPERTIES, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	/s/ Bart Brundage
 

Bart Brundage
	 	 
	 

	 	 	 	 	 	 	 	Vice President	 	 

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	EXHIBIT A

to

sublease agreement

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