CLIENT COPY * [delete whichever is/are not applicable]
LETTER OF GUARANTEE NUMBER : 969/27185400 IN REPECT OF ENVIRONMENTAL MANAGEMENT PLAN ALL PORTIONS OF THE FARM KLIPFONTEIN 266,ADMINISTRATIVE DISTRICT NAMAQUALAND
Issued on behalf of CORTEC AFRICA DRILLING SERVICES (PTY) LTD REG NO 2003/000725/07
(hereinafter referred to as` the client`)
Issued in favour of : DEPARTMENT OF MINERALS AND ENERGY
(hereinafter referred to as `the beneficiary`)
Physical address ANDIA BUILDING VOORTREKKER STREET, SPRINGBOK, 8121
NORTHERN CAPE 8241
At the instance of the client we, the undersigned GRACE GOVENDER and VANESSA MARI in our respective capacities as LEAD BRACNH MANAGER and MANAGER SMALL BUSINESS SERVICES of NEDBANK LIMITED REG NO 1951/000009/06,RIVONIA BRANCH, (hereinafter referred to as `the bank`)and dully authorized thereto, hold the beneficiary’s disposal and undertake to pay to the beneficiary an amount not exceeding R50,000.00 (FIFTY THOUSAND RAND ONLY) subject to the terms and conditions stated below.
1. The guarantee shall be governed by South African Law and be subject to the jurisdiction of South African courts.
Signed at Sandton on 14 / 07 / 2006
(place) (day) (month) (year)
G GOVENDER (006456) V MARI (152243)
LEAD BRANCH MANAGER MANAGER SMALL BUSINESS SERVICES
RIVONIA BRANCH RIVONIA BRANCH
AS WITNESSES :