Addendum to Loan Agreement between EDI Exploration Drilling International Holding GmbH and EDI Exploration Drilling International GmbH (May 28, 2008)

Summary

This addendum modifies a previous loan agreement between EDI Exploration Drilling International Holding GmbH (the lender) and EDI Exploration Drilling International GmbH (the borrower). The main change is an extension of the loan term by about nine months, with the new repayment date set for March 31, 2009. All other terms of the original agreement remain unchanged. Both parties have signed the addendum to confirm their agreement to these changes.

EX-10.38 5 exhibit10-38.htm ADDENDUM TO LOAN AGREEMENT DATED OCTOBER 28, 2006 Filed by sedaredgar.com - Exploration Drilling International Inc. - Exhibit 10.38

(3,400.00)

Addendum to the loan agreement dated 28/10/2006

Extension

LOAN AGREEMENT

between

EDI Exploration Drilling International Holding GmbH
Represented by Managing Director
Günter Thiemann
Goethestrasse
61 45721 Haltern am See

- in the following referred to as lender -

and

EDI Exploration Drilling International GmbH
represented by the Managing Director
Christian Runge
Goethestrasse
59 45721 Haltern am See

- in the following referred to as borrower -

Effective immediately, the loan agreement, to which this addendum applies, is changed in § 2 paragraphs 2 and 3 as follows:

§ 2 Interest, term and repayment of loan

	2.	The term shall be extended by approximately 9 months and ends on 31/03/2009.
	3.	The loan shall be repaid on 31/03/2009 into the lender’s account.

All other provisions of the agreement shall remain unchanged and valid.

Haltern, 28/05/2008

[Signature]

EDI Holding GmbH		EDI GmbH
Günter Thiemann		Christian Runge
- Lender -		- Borrower -

[File name]