Addendum to Loan Agreement between DTB Patente GmbH and EDI Exploration Drilling International GmbH (Extension)

Summary

This addendum extends the term of a loan agreement between DTB Patente GmbH (lender) and EDI Exploration Drilling International GmbH (borrower) by 12 months, setting the new repayment date to November 30, 2008. All other terms of the original agreement remain unchanged. The addendum is effective immediately upon signing by both parties.

EX-10.54 4 exhibit10-54.htm ADDENDUM TO LOAN AGREEMENT Filed by Automated Filing Services Inc. (604) 609-0244 - Exploration Drilling International Inc. - Exhibit 10.54

Addendum to the loan agreement dated 28/10/2006

Extension

LOAN AGREEMENT

between

DTB Patente GmbH
represented by the Managing Director
Rainer Rotthäuser
Goethestrasse 59, 45721 Haltern am See

- in the following referred to as lender -

and

EDI Exploration Drilling International GmbH
represented by the Managing Director
Günter Thiemann
Goethestrasse 59, 45721 Haltern am See

- in the following referred to as borrower -

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

§ 2 Interest, term and repayment of loan

	2.	The term shall be extended by 12 months and ends on 30/11/2008.
	3.	The loan shall be repaid on 30/11/2008 into the lender’s account.

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

Haltern, on 01/11/2007


		[Signature]
DTB Patente GmbH		EDI Exploration Drilling International GmbH
- Lender -		- Borrower -