ex10_04.htm

Exhibit 10.04

THESE WARRANTS AND THE SHARES OF COMMON STOCK THAT MAY BE PURCHASED ON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. THESE WARRANTS AND THE SHARES OF COMMON STOCK THAT MAY BE PURCHASED ON THE EXERCISE HEREOF ARE BEING OFFERED AND SOLD FOR INVESTMENT. THESE WARRANTS AND THE SHARES OF COMMON STOCK ISSUED OR ISSUABLE UPON EXERCISE OF THESE WARRANTS ARE SUBJECT TO THE RESTRICTIONS ON TRANSFER SET FORTH IN SECTION 4 OF THIS WARRANT.

WESTSIDE ENERGY CORPORATION

WARRANTS FOR THE PURCHASE OF

SHARES OF COMMON STOCK OF

WESTSIDE ENERGY CORPORATION

(A Nevada Corporation)

VOID AFTER 5:00 P.M., CENTRAL STANDARD TIME,

ON NOVEMBER 2, 2009

WARRANT NO. 2008-2

Westside Energy Corporation, a Nevada corporation (the "Company"), hereby certifies that William Charles O'Malley, Jr. (together with his permitted assigns, the "Registered Holder"), is the holder of THIRTY-FIVE THOUSAND (35,000) of the Company's Warrants (singly, a "Warrant," and collectively, the "Warrants") thus entitling him, subject to the terms set forth below, to purchase from the Company, at any time or from time to time on or after February 1, 2008 and on or before November 2, 2009 at not later than 5:00 p.m. (Central Standard Time), one share of Common Stock of the Company ("Common Stock") for each Warrant at a purchase price of $2.00 per share. The number of shares purchasable upon exercise of a Warrant, and the purchase price per share, each as adjusted from time to time pursuant to the provisions of this Warrant Certificate, are hereinafter referred to as the "Warrant Stock" and the "Purchase Price", respectively. This warrant agreement represents warrants that were previously represented by a warrant agreement dated November 2, 2004 in favor of Sterne, Agee & Leach, Inc. and that were transferred to the Registered Holder on February 1, 2008.

1. Period of Exercise.

(a) This Warrant Certificate may be exercised by the Registered Holder, in whole or in part, by surrendering this Warrant Certificate, with the purchase form appended hereto as Exhibit A duly executed by such Registered Holder, at the principal office of the Company, or at such other office or agency as the Company may designate, accompanied by payment in full, by bank or certified check in lawful money of the United States, of the Purchase Price payable in respect of the number of shares of Warrant Stock purchased upon such exercise.

(b) Each exercise of a Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this Warrant Certificate shall have been surrendered to the Company as provided in subsection 1(a) above. At such time, the person or persons in whose name or names any certificates for Warrant Stock shall be issuable upon such exercise as provided in subsection 1(c) below shall be deemed to have become the holder or holders of record of the Warrant Stock represented by such certificates.

(c) As soon as practicable after the exercise of a Warrant, and in any event within ten (10) days thereafter, the Company at its expense shall cause to be issued in the name of, and delivered to, the Registered Holder, or, subject to the terms and conditions hereof, as the Registered Holder (upon payment by the Registered Holder of any applicable transfer taxes) may direct:

(i) a certificate or certificates for the number of full shares of Warrant Stock to which such Registered Holder shall be entitled upon such exercise plus, in lieu of any fractional share to which such Registered Holder would otherwise be entitled, cash in an amount determined pursuant to Section 3 hereof, and

(ii) in case such exercise is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on the face or faces thereof for the number of shares of Warrant Stock equal (without giving effect to any adjustment therein) to the number of such shares called for on the face of this Warrant Certificate minus the number of such shares purchased by the Registered Holder upon such exercise as provided in subsection 1(a) above.

2. Adjustments.

(a) If the outstanding shares of the Company's Common Stock shall be subdivided into a greater number of shares or a dividend in Common Stock shall be paid in respect of Common Stock, the Purchase Price in effect immediately prior to such subdivision or at the record date of such dividend shall simultaneously with the effectiveness of such subdivision or immediately after the record date of such dividend be proportionately reduced. If the outstanding shares of Common Stock shall be combined into a smaller number of shares, the Purchase Price in effect immediately prior to such combination shall, simultaneously with the effectiveness of such combination, be proportionately increased. When any adjustment is required to be made in the Purchase Price, the number of shares of Warrant Stock purchasable upon the exercise of a Warrant shall be changed to the number determined by dividing (i) an amount equal to the number of shares issuable upon the exercise of a Warrant immediately prior to such adjustment, multiplied by the Purchase Price in effect immediately prior to such adjustment, by (ii) the Purchase Price in effect immediately after such adjustment.

(b) If there shall occur any capital reorganization or reclassification of the Company's Common Stock (other than a change in par value or a subdivision or combination as provided for in subsection 2(a) above), or any consolidation or merger of the Company with or into another corporation, or a transfer of all or substantially all of the assets of the Company, or the payment of a liquidating distribution then, as part of any such reorganization, reclassification, consolidation, merger, sale or liquidating distribution, lawful provision shall be made so that the Registered Holder of this Warrant Certificate shall have the right thereafter to receive upon the exercise hereof (to the extent, if any, still exercisable) the kind and amount of shares of stock or other securities or property which such Registered Holder would have been entitled to receive if, immediately prior to any such reorganization, reclassification, consolidation, merger, sale or liquidating distribution, as the case may be, such Registered Holder had held the number of shares of Common Stock which were then purchasable upon the exercise of a Warrant. In any such case, appropriate adjustment (as reasonably determined by the Board of Directors of the Company) shall be made in the application of the provisions set forth herein with respect to the rights and interests thereafter of the Registered Holder of this Warrant Certificate such that the provisions set forth in this Section 2 (including provisions with respect to adjustment of the Purchase Price) shall thereafter be applicable, as nearly as is reasonably practicable, in relation to any shares of stock or other securities or property thereafter deliverable upon the exercise of a Warrant.

(c) In any case in which this Section 2 shall require that any adjustment in the number of shares of Warrant Stock or other property for which a Warrant may be exercised be made effective as of a record date for a specified event, the Company may elect to defer until the occurrence of such event issuing to the Registered Holder the amount of Warrant Stock and other property, if any, issuable upon exercise of a Warrant after such record date that is over and above the Warrant Stock and other property, if any, issuable upon exercise of a Warrant as in effect prior to such adjustment; provided that upon request the Company shall deliver to the Registered Holder a due bill or other appropriate instrument evidencing the Registered Holder's right to receive such additional shares or property upon the occurrence of the event requiring such adjustment.

(d) When any adjustment is required to be made in the Purchase Price, the Company shall promptly mail to the Registered Holder a certificate setting forth the Purchase Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Such certificate shall also set forth the kind and amount of stock or other securities or property for which a Warrant shall be exercisable following the occurrence of any of the events specified in subsection 2(a) or 2(b) above.

3. Fractional Shares.

The Company shall not be required upon the exercise of a Warrant to issue any fractional shares, but shall make an adjustment therefor in cash on the basis of the mean between the low bid and high asked prices of the Warrant Stock on the OTC Bulletin Board, or the mean between the low bid and high asked prices of the Warrant Stock on the over-the-counter market as reported by the National Association of Securities Dealers Automated Quotations ("NASDAQ") System or the closing market price of the Warrant Stock on a national securities exchange on the trading day immediately prior to the date of exercise, whichever is applicable, or if none is applicable, then on the basis of the then market value of the Warrant Stock as shall be reasonably determined by the Board of Directors of the Company.

4. Limitation on Sales.

(a) The Registered Holder, and each subsequent holder of this Warrant Certificate, if any, acknowledges that the Warrants and the Warrant Stock have not been registered under the Securities Act of 1933, as now in force or hereafter amended, or any successor legislation (the "Act"), and agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of any of the Warrants or the Warrant Stock issued upon its exercise in the absence of (i) an effective registration statement under the Act as to a Warrant or such Warrant Stock and registration or qualification of a Warrant or such Warrant Stock under any applicable blue sky or state securities law then in effect, or (ii) an opinion of counsel, satisfactory to the Company, that such registration and qualification are not required. Without limiting the generality of the foregoing, unless the offering and sale of the Warrant Stock to be issued upon the particular exercise of a Warrant shall have been effectively registered under the Act, the Company shall be under no obligation to issue the shares or warrants covered by such exercise unless and until the Registered Holder shall have executed an investment letter in form and substance satisfactory to the Company, including a warranty at the time of such exercise that the Registered Holder is acquiring such shares or warrants for his own account, for investment and not with a view to, or for sale in connection with, the distribution of any such shares or warrants, in which event the Registered Holder shall be bound by the provisions of a legend to such effect on the certificate(s) representing the Warrant Stock. In addition, without limiting the generality of the foregoing, the Company may delay issuance of the Warrant Stock until completion of any action or obtaining of any consent, which the Company believes necessary or advisable under any applicable law (including without limitation state securities or "blue sky" laws).

(b) The Registered Holder agrees, and each other holder of Warrant Stock agrees, if requested by the Company and/or the representative of the underwriters underwriting an offering of Common Stock (or other securities of the Company) from time to time, not to sell or otherwise transfer or dispose of any Warrant Stock then held by the Registered Holder and/or such other holder during such period of time following the effective date of any registration statement of the Company filed under the Act for the period of time with respect to which a majority of the executive officers of the Company agree not to sell shares of Common Stock (or other securities of the Company). Such agreement shall be in writing in a form satisfactory to the Company and such representative. The Company may impose stop-transfer instructions with respect to the Warrant Stock subject to the foregoing restriction until the end of such period.

5. Reservation of Stock.

The Company shall at all times reserve and keep available, solely for issuance and delivery upon the exercise of a Warrant, such shares of Warrant Stock and other stock, securities and property, as from time to time shall be issuable upon the exercise of a Warrant.

6. Replacement of Warrant Certificates.

Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant Certificate and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably required) in an amount reasonably satisfactory to the Company, or (in the case of mutilation) upon surrender and cancellation of this Warrant Certificate, the Company shall issue, in lieu thereof, a new Warrant Certificate of like tenor.

7. Transfers. etc.

Subject to Section 4 above:

(a) The Company shall maintain a register containing the names and addresses of the Registered Holders of this Warrant Certificate. The Registered Holder may change his address as shown on the warrant register by written notice to the Company requesting such change.

(b) Except in accordance with Section 4 hereof, this Warrant Certificate shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise). This Warrant Certificate shall not be subject to execution, attachment or similar process without the prior written consent of the Company. Any attempted transfer, assignment, pledge, hypothecation or other disposition of this Warrant Certificate or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon this Warrant Certificate or such rights, shall be null and void.

(c) Until any transfer of this Warrant Certificate is made in the warrant register, the Company may treat the Registered Holder of this Warrant Certificate as the absolute owner hereof for all purposes; provided, however, that if and when this Warrant Certificate is properly assigned in blank, the Company may (but shall not be obligated to) treat the bearer hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

8. Mailing of Notices, etc.

All notices and other communications from the Company to the Registered Holder of this Warrant shall be mailed by first-class certified or registered mail, postage prepaid, to the address furnished to the Company in writing by the last Registered Holder of this Warrant Certificate who shall have furnished an address to the Company in writing. All notices and other communications from the Registered Holder of this Warrant Certificate or in connection herewith to the Company shall be mailed by first-class certified or registered mail, postage prepaid, to the Company at its offices at 3131 Turtle Creek Blvd, Suite 1300, Dallas, Texas 75219, or such other address as the Company shall so notify the Registered Holder.

9. No Rights as Stockholder.

Until the exercise of a Warrant, the Registered Holder of this Warrant Certificate shall not have or exercise any rights by virtue hereof as a stockholder of the Company.

10. Change or Waiver.

Any term of this Warrant Certificate may be changed or waived only by an instrument in writing signed by the party against which enforcement of the change or waiver is sought.

11. Headings.

The headings in this Warrant Certificate are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision of this Warrant Certificate.

12. Governing Law.

THIS WARRANT CERTIFICATE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEVADA.

IN WITNESS WHEREOF, the undersigned has set his hand hereunto as of the 1st day of February, 2008.

	WESTSIDE ENERGY CORPORATION


	By:
		Sean J. Austin, Vice President

EXHIBIT A

PURCHASE FORM

Westside Energy Corporation

3131 Turtle Creek Blvd, Suite 1300

Dallas, TX 75219

Gentlemen:

The undersigned pursuant to the provisions set forth in the attached Warrant Certificate hereby irrevocably elects to purchase _________ shares of the Common Stock (the "Common Stock") covered by such Warrant Certificate and herewith makes payment of $_____________, representing the full purchase price for such shares at the price per share provided for in such Warrant Certificate.

The undersigned understands and acknowledges the terms and restrictions on the right to transfer or dispose of the Common Stock set forth in Section 4 of the attached Warrant Certificate, which the undersigned has carefully reviewed. The undersigned consents to the placing of a legend on the undersigned’s certificate for the Common Stock referring to such restrictions and the placing of stop transfer orders until the Common Stock may be transferred in accordance with the terms of such restrictions.

	By:

	Name:

	Title:

	Dated: