Common use of Warrants Not Transferable Clause in Contracts

Warrants Not Transferable. The Warrants and all rights attached to it are not transferable. DATED as of the date first above written in these Terms and Conditions. Per: Authorized Signatory TO: CROWN OIL AND GAS INC. 800 – 5th Avenue, Suite 4100 ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ The undersigned warrant holder hereby subscribes for ____________common shares (the "Shares") of Crown Oil and Gas Inc. (the "Company") at a price of: (i) US$1.50 per share if the Shares are being purchased in the first 12-month period after the Closing (as defined in the Warrant Certificate dated for reference February 15, 2008); or (ii) US$2.00 per share if the Shares are being purchased in the remaining 12-month period, pursuant to the terms of the Warrant Certificate and Subscription Agreement, dated for reference February 15, 2008, as applicable. This Subscription is accompanied by a certified cheque or bank draft payable to or to the order of the Company for the whole amount of the purchase price of the Shares. The undersigned hereby represents and warrants that the undersigned is not a U.S. person and is not subscribing for the Shares on behalf of a U.S. person. The undersigned hereby directs that the Shares be registered as follows:

Warrants Not Transferable. The Warrants and all rights attached to it are not transferable. DATED as of the date first above written in these Terms and Conditions. Per: Authorized Signatory TO: CROWN OIL AND GAS INC. 800 – 5th Avenue, Suite 4100 ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ The undersigned warrant holder hereby subscribes for _____________ common shares (the "Shares") of Crown Oil and Gas Inc. (the "Company") at a price of: (i) US$1.50 per share if the Shares are being purchased in the first 12-month period after the Closing (as defined in the Warrant Certificate dated for reference February 15April 10, 2008); or (ii) US$2.00 per share if the Shares are being purchased in the remaining 12-month period, pursuant to the terms of the Warrant Certificate and Subscription Agreement, dated for reference February 15April 10, 2008, as applicable. This Subscription is accompanied by a certified cheque or bank draft payable to or to the order of the Company for the whole amount of the purchase price of the Shares. The undersigned hereby represents and warrants that the undersigned is not a U.S. person and is not subscribing for the Shares on behalf of a U.S. person. The undersigned hereby directs that the Shares be registered as follows: