Section 1: The Parties agree to the following further amendments to the Agreement:

(*a*) All references in the Agreement to "the Companies" are hereby changed to "Amoco" unless the context otherwise requires. (*b*) In the fifth paragraph of Clause 4, "Renewal of Licence", the phrase "additional renewal period of two years (the "Second Renewal")" is hereby changed to "additional renewal period of six years (the "Second Renewal")". (*c*) The following is hereby added at the end of the fifth paragraph of Clause 4, "Renewal of Licence": "The Second Renewal shall be divided into three two-year sub-periods. The First Sub-Period shall be from 28th May 1986 to 28th May 1988. The Second Sub-Period shall be from 28th May 1988 to 28th May 1990. The Third Sub-Period shall be from 28th May 1990 to 28th May 1992." (*d*) The sixth paragraph of Clause 4, "Renewal of Licence", is hereby deleted in its entirety and replaced with the following: "The Exploration Area to be included under the Licence during the First Sub-Period of the Second Renewal shall be reduced by 3,360 square miles, a relinquishment of 30% of the Exploration Area held by Amoco during the First Renewal, so that the Exploration Area during the First Sub-Period shall be 7,840 square miles. The Exploration Area to be included under the Licence during the Second Sub-Period of the Second Renewal shall be reduced by 2,352 square miles, a relinquishment of 30% of the Exploration Area held by Amoco during the First Sub-Period of the Second Renewal, so that the Exploration Area during the Second Sub-Period shall be 5,488 square miles. The Exploration Area to be included under the Licence during the Third Sub-Period of the Second Renewal shall be reduced by 2,352 square miles so that the Exploration Area during the Third Sub-Period shall be 3,136 square miles. Amoco shall have the right to select the areas to be relinquished, and each such relinquishment shall be made at the beginning of the Sub-Period to which it relates: " (*e*) The seventh paragraph of Clause 4, "Renewal of Licence", is hereby deleted in its entirety and replaced with the following: "If Amoco has elected to enter into the Second Renewal, the Minister shall grant the Second Renewal. During the First Sub-Period of the Second Renewal, Amoco shall interprete and evaluate the exploratory well drilled during No. 8 *Exploration, Mining and Processing of Mineral Oil (Amendment No. 2) Agreement, (1986) (Ratification)* 1986 A77 the First Renewal and the related seismic data and shall prepare, submit to and discuss with the Government prior to the end of the First Sub-Period a comprehensive technical report analysing such well and seismic data. In order to compile such technical report Amoco may carry out further technical studies. Not later than sixty (60) days prior to the expiration of the First Sub-Period of the Second Renewal, Amoco shall notify the Minister whether Amoco elects to enter into the Second Sub-Period of the Second Renewal. If Amoco elects not to enter into the Second Sub-Period of the Second Renewal, then this Agreement and the Licence shall terminate automatically and the Parties shall have no further rights or obligations hereunder nor under the Licence. If Amoco elects to enter into the Second Sub-Period of the Second Renewal, then this Agreement and the Licence shall continue in effect and Amoco shall have the obligation (*i*) to conduct over the Exploration Area an additional seismic program of 1,000 kilometres or other geological and geophysical data acquisition program of an equivalent value to such seismic program and (*ii*) to drill an exploratory well in the Exploration Area before the end of the Second Sub-Period of the Second Renewal, provided that if Amoco drills an exploratory well or conducts a seismic or other geological and geophysical program during the First Sub-Period of the Second Renewal, such well or program shall count toward satisfying Amoco's well and seismic obligations for the Second Sub-Period of the Second Renewal. If Amoco has elected to enter into the Second Sub-Period and has fulfilled the well and seismic obligations set forth in the immediately preceding sentence, then Amoco shall be entitled to enter into the Third Sub-Period and shall notify the Minister, no later than sixty (60) days prior to the expiration of the Second Sub-Period, of whether Amoco elects to enter into the Third Sub-Period of the Second Renewal. If Amoco elects not to enter into the Third Sub-Period of the Second Renewal, then this Agreement and the Licence shall terminate automatically and the Parties shall have no further rights or obligations hereunder nor under the Licence. If Amoco elects to enter into the Third Sub-Period of the Second Renewal, then this Agreement and the Licence shall continue in effect and Amoco shall have the obligation to drill one exploratory well before the end of the Third Sub-Period of the Second Renewal. The location of any exploratory well shall be chosen by Amoco, and Amoco undertakes to consult with the Government in this regard." A78 No. 8 *Exploration, Mining and Processing of Mineral Oil (Amendment No. 2) Agreement, (1986) (Ratification)* 1986 (*f*) The second paragraph of Sub-clause (2) (*i*) of Clause 6, "Financial Obligations of the Companies", is hereby amended to read as follows· "A lump sum Rental payment for the Exploration Area for the First Sub-Period of the Second Renewal in an amount of two hundred thousand U.S. dollars (U.S. $200,000) shall be paid to the Government within thirty (30) days after the commencement of the renewal of the Licence for the First Sub-Period of the Second Renewal. If Amoco elects to enter into the Second Sub-Period of the Second Renewal, then a lump sum Rental payment for the Exploration Area for the Second Sub-Period of the Second Renewal in an amount of two hundred thousand U.S. dollars (U.S. $200,000) shall be paid to the Government within thirty (30) days after the commencement of the Second Sub-Period of the Second Renewal. If Amoco elects to enter into the Third Sub-Period of the Second Renewal, then a lump sum Rental payment for the Exploration Area for the Third Sub-Period of the Second Renewal in an amount of two hundred thousand U.S. dollars (U.S. $200,000) shall be paid to the Government within thirty (30) days after the commencement of the Third Sub-Period of the Second Renewal."