X0202 3 2008-04-15 0 0001373467 ZULU ENERGY CORP. ZLUE 0001432201 Hostetler James 122 NORTH MAIN STREET SHERIDAN WY 82801 0 1 0 0 Executive Vice President Common Stock 1900000 D Stock Option (Right to Buy) 1.00 Common Stock 1500000 D The grant of 1,900,000 shares is governed by the employment agreement between Mr. Hostetler and the Company, dated as of April 15, 2008, and vests as follows: 760,000 shares (40%) on January 1, 2009; 570,000 shares (30%) on January 1, 2010; and the remaining 570,000 shares (30%) January 1, 2011 and are subject to other conditions to be determined. The right to buy shares is governed by the employment agreement between Mr. Hostetler and the Company, and the options are fully vested. Expiration of the stock options is governed by the employment agreement between Mr. Hostetler and the Company and is subject to other conditions to be determined. /s/ James Hostetler 2008-04-24