X0306 4 2014-03-01 0 0001191359 ARKANOVA ENERGY CORP. AKVA 0001415653 DENNY REGINALD 16709 FRENCH HARBOUR COURT AUSTIN TX 78734 1 1 0 0 Chief Financial Officer Common Shares 165000 D Stock Options 0.10 2008-11-19 2018-09-30 common 100000 100000 D Stock Options 0.10 2009-10-14 2018-12-31 common 350000 450000 D Stock Options 0.10 2010-10-08 2018-12-31 common 550000 1000000 D Stock Options 0.10 2014-03-01 4 A 0 300000 0 A 2014-03-01 2019-03-01 Common Stock 300000 1300000 D Granted under the 2007 Stock Option Plan. Granted under the 2008 Amended and Restated Stock Option Plan. Effective November 15, 2013, the option price has been amended from $0.12 to $0.10 and the expiry date has been extended from November 19, 2013 to September 30, 2018. Effective November 15, 2013, the option price has been amended from $0.20 to $0.10 and the expiry date has been extended from October 14, 2014 to December 31, 2018. Effective November 15, 2013, the option price has been amended from $0.25 to $0.10 and the expiry date has been extended from October 8, 2015 to December 31, 2018. /s/ Reginald Denny 2014-03-01