Tipperary Corp Watch

from 10-Q 4 pages Credit Facility

from 10-Q 5 pages Credit Facility

from 10QSB 8 pages 1. Loan. Contemporaneously With Mitchell’s Execution of the Soilmec Contract, Toga Shall Loan Mitchell of Up to an Amount Equal to Fifteen Per Cent (15%) of the Purchase Price of the Equipment (Which Is Currently Estimated to Be U.S. One Million Three Hundred Fifteen Thousand and No/100 Dollars), Which Mitchell Shall Use for the Sole Purpose of Making a Down Payment for the Equipment. the Loan Made by Toga Pursuant to This Agreement Shall Not Bear Any Interest Prior to Maturity, and Shall Be Repaid by Mitchell on or Before March 15, 2003 Unless Demand for Payment Is Sooner Made, All as More Particularly Described in the Promissory Note Delivered by Mitchell to Toga Contemporaneously Herewith. Mitchell Shall Make All Payments Under the Loan at Toga’s Address at 633 17th Street, Suite 1550, Denver, Colorado 80202 or at Such Other Address as Toga May Designate in Writing

from 10QSB 38 pages First Amendment to First Amended and Restated Credit Agreement

from 10QSB >50 pages 1st Amendment and Restated Credit Agreement

from 10QSB >50 pages Credit Agreement

from 10-Q 1 page Tipperary Oil & Gas Corporation Pledge of Stock December 22, 1998 Tipperary Oil & Gas Corporation ("Togc"), Which Is a Wholly-Owned Subsidiary of Tipperary Corporation ("Tipperary"), Presently Owns All of the Issued and Outstanding Capital Stock of Tipperary Oil & Gas (Australia) Pty Ltd. ("Toga"). in Consideration Of, and in Order to Induce Slough Estates USA Inc. ("Slough") to (A) Loan Funds to Tipperary as Provided in a Promissory Note, of Even Date Herewith, in the Principal Amount of $5,500,000, and (B) After the Date Hereof, to Loan Funds to Toga, Its Subsidiary, as Provided in a Promissory Note in the Principal Amount of $6,000,000, Togc Hereby Pledges All of the Presently Issued and Outstanding Capital Stock, Held by Togc (The "Toga Stock"), as Collateral to Secure Repayment of the Foregoing Two Promissory Notes, as Provided in That Certain Security Agreement, of Even Date Herewith, Between Tipperary and Slough. Togc Represents and Warrants to Slough That It Will Benefit Directly or Indirectly From the Two Loans and Acknowledges That Such Benefit Constitutes Full and Sufficient Consideration for This Pledge. Tipperary Oil & Gas Corporation By: /S/ David L. Bradshaw David L. Bradshaw, President