Item 1.01 Entry into a Material Definitive Agreement.

We have previously reported that during 2010 we loaned to Global Energy Development PLC ("Global") the amount of $5 million under a senior secured loan and security agreement. This loan matured on September 14, 2012 and bears interest at the annual rate of 10.5%. On August 30, 2012, we agreed to extend the maturity date of this note by seven months, resulting in a new maturity date of April 14, 2013. In association with this amendment, we also increased the interest rate from 10.5% up to 12.5% and Global paid us a transaction fee of $50 thousand related to the extension. This note is fully secured by oil producing assets of Global.

Global is a Latin America focused petroleum exploitation, development and production company with operations in Colombia. In addition to our ownership of 34% of Global's ordinary shares, one of our directors serves as a director of Global.