Vitel Ventures Corporation
c/o Bodden Corporate Services
000 Xxxxx Xxxxxxxxx
PO Box 00000 XXX
Xxxx Xxx Xxxx
Xxxxx Xxxxxx, Xxxxxx Xxxxxxx, XXX
April 25, 2002
Bepariko Biocom
Xxx Xxxxxxx Xxxxxx, Xxxxx 000
Xxxx Xxxxxx, XX 00000
Attention: Xxxxxxx X. Xxxxxxxxxx, President
Dear Xx. Xxxxxxxxxx:
In exchange for a purchase price of US$350,000, the receipt and
sufficiency of which is hereby acknowledged, Vitel Ventures Corporation (the
"Company") hereby assigns, conveys and transfers to Bepariko Biocom ("Bepariko")
all of its rights, title and interests, as set forth in the Loan Agreement dated
December 10, 2001, as amended, between Touchstone Resources Ltd. ("Touchstone")
and the Company, to acquire one half of the interest held by Touchstone in the
Hackberry Project located in Jefferson County, Texas (the "Purchased Interest").
The Company hereby agrees that it shall, as soon as practicable, take
all actions necessary to exercise its rights under the Loan Agreement to acquire
the Purchased Interest and to instruct Touchstone to execute a Partial
Assignment of Mineral Lease and any other documents which Bepariko shall deem
necessary to transfer title to the Purchased Interest directly to Bepariko.
Please confirm your agreement with the above terms by signing and
returning the accompanying copy of this letter.
Sincerely,
VITEL VENTURES CORPORATION
By:_____________________________
Agreed to and accepted this ___ day
of _______________, 2002
BEPARIKO BIOCOM
By:_____________________________
Xxxxxxx X. Xxxxxxxxxx, President
