AMENDMENT OF EXCLUSIVITY AGREEMENT
AMENDMENT
OF EXCLUSIVITY AGREEMENT
This
Amendment of Exclusivity Agreement (this “Agreement”), is entered into, as of
May 4, 2007, by and between Black Sands Petroleum, Inc., a Nevada corporation
with
offices at Xxxxx 0000, 000 0xx Xxxxxx XX, Xxxxxxx, Xxxxxxx Xxxxxx X0X 0X0
(“Blacksands”), and Access
Energy
Inc., a corporation with offices at Xxxxx 0000, 000 Xxx Xxxxxx, Xxxxxxx, Xxxxxxx
X0X 0X0 (“Access”).
Whereas,
Blacksands and Access Energy Inc. entered into an Exclusivity Agreement, dated
November 10, 2006 (the “Exclusivity Agreement”) where Access granted Blacksands
certain rights that will expire on March 10, 2007;
Whereas,
Blacksands and Access extended the exclusivity period until May 8, 2007 by
an
Amendment to the Exclusivity Agreement, dated March 9, 2007;
Whereas,
Blacksands and Access desire now to extend the Exclusivity Period through August
7, 2007;
Now,
therefore, in consideration of the mutual covenants, premises and agreements
set
forth herein and in the Exclusivity Agreement, and for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged,
the
parties agree as follows:
SECTION
1. Amendment
to the Exclusivity Agreement.
The
term “Exclusivity Period” as defined in the Exclusivity Agreement is hereby
amended to mean any time from the execution of the Exclusivity Agreement on
November 10, 2006 through and including August 7, 2007. Except for such
extension of the exclusivity period, all other provisions of the Exclusivity
Agreement remain in full force and effect.
SECTION
2. No
Third Party Beneficiaries.
This
Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns and is not for the benefit of, nor may any
provision hereof be enforced by, any other person.
SECTION
3. Governing
Law.
This
Agreement shall be governed by, and construed and interpreted in accordance
with, the laws of the State of New York without regard to such State’s
principles of conflicts of laws.
SECTION
4. Headings.
The
headings of the Sections are inserted for convenience of reference only and
shall not affect any interpretation of this Agreement.
SECTION
5. Counterpart
Signatures.
This
Agreement may be executed in two or more counterparts, all of which when taken
together shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to
the
other party, it being understood that both parties need not sign the same
counterpart. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid and binding obligation of
the
party executing (or on whose behalf such signature is executed) the same with
the same force and effect as if such facsimile signature page were an original
thereof.
[SIGNATURE
PAGE TO FOLLOW]
BLACKSANDS
PETROLEUM, INC
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By: | /s/ Xxxxxx X. Xxxxxxxxx | |
Name: Xxxxxx X. Xxxxxxxxx |
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Title:
President
Date:
May 4, 2007
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ACCESS ENERGY INC. | ||
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By: | /s/ Xxxx Xxxxxxxxx | |
Name: Xxxx Xxxxxxxxx |
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Title:
President
Date:
April 30, 2007
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