(no Rental Clause)

TRUST AGREEMENT

THIS AGREEMENT made this 15th day of October, 2018

BETWEEN:

MANUEL COMPANY, a corporation having an office and

carrying on business in the city of Zamboanga, Philippines
(hereinafter called the "Trustee")

- and -

COMPANY TWO, a general partnership, having an office and

carrying on business in the city of Zamboanga, Philippines
(hereinafter called the "Beneficiary")

WHEREAS the Trustee is the beneficial owner of an interest, registered in the name of its managing
partner, in the petroleum and natural gas leases set forth in Schedule “A” attached hereto (the “Leases”).

WHEREAS pursuant to a Purchase and Sale Agreement dated _____ 1, 2012 between the Beneficiary
and the Trustee (hereinafter called the "Agreement"), the Beneficiary became entitled to certain interests
of the Trustee in and to the petroleum and natural gas rights underlying certain lands, comprised within
the Leases, as set forth in the Schedule “A” attached hereto (respectively the “Trust Interests” and the
"Lands").

AND WHEREAS the parties have agreed that the Trustee shall hold the Trust Interests in trust for and on
behalf of the Beneficiary, on the terms and conditions hereinafter set forth.

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the premises and
mutual covenants and conditions herein contained, the parties hereto agree as follows:

1. The Trustee shall be responsible for notifying the Beneficiary in the event that the Trustee receives
notice that the Leases governing the Trust Interests is/are due to expire by way of Shallow or
Deeper Rights Reversion in favour of the Lessor or otherwise. In the event that the Beneficiary
wishes to apply for continuance of the Trust Interests, the Beneficiary shall be responsible for the
preparation of all necessary applications provided, however, that the Trustee shall cooperate in
corresponding with the Lessor in connection therewith. The Beneficiary shall reimburse the Trustee
for any costs incurred in connection with such application.

2. The Trustee agrees that it will not sell, assign, transfer, convey, encumber or surrender the Leases
insofar as the Leases affect and relate to the Trust Interests except upon the written instructions of
the Beneficiary. Further, the Trustee shall not assign its interest and obligations pursuant to this
Agreement without the consent of the Beneficiary which consent shall not be unreasonably withheld.

3. The Trustee agrees to allow the Beneficiary access to the Lands at the Beneficiary's request for the
purpose of exploring, drilling for, winning, taking, removing and disposing of the petroleum, natural
gas and other hydrocarbons, as such rights are granted by the Lease, from the Trust Interests.

4. The Beneficiary covenants and agrees with the Trustee to indemnify and save harmless the Trustee
from all costs, actions and demands, charges and expenses of every nature whatsoever whether
directly or indirectly as a result of or attributable to the Trustee holding the Trust Interests in trust for
the Beneficiary or as a result of the Beneficiary's access to the Lands, unless caused by the gross
negligence or willful or wanton misconduct of the Trustee or its agents.

ED Committee-Trust Agreement-January 2012 Page 1

5. The Trustee covenants and agrees to comply with all the terms and conditions of the Leases
including payment of rentals, and to do all things necessary to maintain the Leases in good standing
and in full force and effect.

6. If at any time the Trustee receives a notice from a third party or generates a notice to a third party,
the subject matter of which relates to expiration of the Leases unless further action is taken, the
Trustee shall forthwith serve written notice on the Beneficiary which shall include a copy of such
notice. Forthwith upon receipt of such notice the parties hereto shall consult to determine the
action, if any, which shall be taken to avoid expiration or termination of such Leases. If either party
is not prepared to take any required action, the other party shall be at liberty, at its sole cost, risk,
expense and benefit, to take such action as may be required to avoid expiration or termination of
such Leases, in which event, such party shall be assigned the other party's interest in such Leases.

7. The Trustee does not purport to hold in trust for the Beneficiary any better title to the Trust Interests
than that which the Beneficiary has been assigned by the Trustee and the parties hereto agree that
the Trustee does not either express or imply by these presents to purport to warrant or guarantee
title to the Leases.

8. This Agreement shall be effective as of _______________, 2012.

9. Each of the parties hereto shall from time to time and at all times hereafter do such further acts and
execute and deliver all such further deeds and documents as shall be reasonably required in order
to fully establish the interests of the parties hereto.

10. All terms, covenants, provisos and conditions set out in the Agreement not expressly altered hereby
shall continue to apply, mutatis mutandis, as between the parties.

11. Any transfer of the Trust Interests to a third party by either the Trustee or Beneficiary shall be made
in accordance with the CAPL 1993 Assignment Procedure, which is hereby adopted and entirely
incorporated into this Agreement.

12. The terms, covenants and conditions of this Agreement shall be binding upon and shall enure to the
benefit of the parties hereto and their respective successors and assigns.

13. This Agreement shall terminate upon the expiration, surrender or termination for any reason
whatsoever of the Leases, notwithstanding anything contained herein. Upon reversion, expiry,
surrender or termination of a portion or all of the Leases and Lands (hereinafter called the “Expired
Lands”), this Agreement shall terminate with respect to such Expired Lands and the terms and
conditions outlined in Clause 5 of this Agreement relating to the payment of rentals shall no longer
apply.

14. This Agreement shall for all purposes be construed and interpreted according to the laws of Alberta.
The courts having jurisdiction with respect to matters relating to this Agreement shall be the courts
of Alberta.

15. Any notice or other writing required or permitted to be given hereunder to the other party shall be
sufficiently given if delivered personally, or if sent by prepaid registered mail or if transmitted by
facsimile to:

Trustee : Beneficiary:
COMPANY ONE COMPANY TWO
_____________ Avenue SW ________________ Avenue SW
Calgary, Alberta T2P ____ Calgary, Alberta T2P ____
Attention: Vice President, Land Attention: Land Manager
Fax: (403) _________________ Fax: (403) ______________

or at such other address as the party to whom such notice is to be given shall have last notified the
other party.

16. This Agreement may be executed in counterpart and, when each party has executed a counterpart,
all counterparts taken together shall constitute one Agreement.

ED Committee-Trust Agreement-January 2012 Page 2

IN WITNESS WHEREOF the parties hereto have executed this Agreement and delivered these
presents.

Trustee: Beneficiary:
COMPANY ONE COMPANY TWO
a general partnership, by its Managing Partner,
Company Two Petroleum Ltd.

This is an execution page to a Trust Agreement dated ___________, 2012 between COMPANY ONE, as
Trustee, and COMPANY TWO, as Beneficiary.

ED Committee-Trust Agreement-January 2012 Page 3

THIS IS SCHEDULE “A” ATTACHED TO AND FORMING PART OF A TRUST AGREEMENT DATED
AS OF THE ____th DAY OF __________ BETWEEN COMPANY ONE, AS TRUSTEE, AND COMPANY
TWO, AS BENEFICIARY

TITLE DOCUMENTS, LANDS AND TRUST INTERESTS

TITLE LANDS Rights Trust Interest

DOCUMENTS
Lease # TWP-RGE W4M Section ____ P&NG IN VIKING __________%
__________

Lease # TWP-RGE W4M Section ____ P&NG IN VIKING __________%

__________

ED Committee-Trust Agreement-January 2012 Page 4