Re: MD&A ObligationsContractual Obligations and Commitments b) The work commitments for the license in Namibia are: 1) USD $6 million incurred in acquiring geological and geophysical data over the first four years (“initial term”); 2) USD $60 million for exploration well within two years after the initial term; and 3) USD $60 million for an additional exploration well within two years after the first two terms expire. Ten percent of the Work Commitment will be guaranteed by Alberta Oilsands which remains subject to terms and conditions to be agreed to between Alberta Oilsands and the government of Namibia. In addition, Alberta Oilsands has agreed to pay approximately US $130,000 per year for annual rental payment and for the purpose of the training and education of Namibians. c) The Company has a rental commitment on office premises pursuant to a lease for $5,629 per month which expires on August 28, 2014. d) As part of the acquisition in Namibia, an additional US $1,000,000 was payable on the 1st anniversary of the closing date, if certain conditions of the vendor are satisfied between the acquisition date and first anniversary date. The Company is working on a payment schedule with the payee.