EXHIBIT 10.21
AMENDMENT TO THE
OPERATING AGREEMENT
OF
MAVERICK BASIN EXPLORATION, LLC
DATED JULY 14, 2004
JULY 14, 2004
AMENDMENT TO THE
OPERATING AGREEMENT OF
MAVERICK BASIN EXPLORATION, LLC
THIS AMENDMENT to the Operating Agreement of MAVERICK BASIN
EXPLORATION, LLC, a Delaware Limited Liability Company, ("Operating Agreement")
is entered into and shall be effective this 14th day of July, 2004, among
Touchstone Resources USA, Inc. ("Touchstone") (The "Withdrawing Class A Member"
and the "Initial Class B Member"), PHT Gas, LLC ("PHT") (the "Initial Class C
Member") and South Oil, Inc. ("South Oil") (the "Additional Class A Member")
(collectively the "Members").
W I T N E S S E T H:
WHEREAS, Touchstone, prior to making any membership contributions to
the Company, has withdrawn as a Class A Member; and
WHEREAS, South Oil has agreed to become an Additional Class A Member
and assume the capital contribution requirements of the Class A Member.
NOW, THEREFORE, intending to be legally bound, the Members hereby
approve the amendment to the Operating Agreement to admit South Oil as an
Additional Class A Member. The Ownership interest of Maverick Basin Exploration
LLC shall be amended to reflect those percentages listed on Exhibit A, attached.
WITHDRAWING CLASS A MEMBER:
TOUCHSTONE RESOURCES USA, INC.
By: /s/ Xxxxxxx X. Xxxxxxxxxx
--------------------------------------
Xxxxxx X. Xxxxxxxxxx, President
ADDITIONAL CLASS A MEMBER:
SOUTH OIL, INC.
By: /s/ Xxxx X. Xxxx
--------------------------------------
Xxxx X. Xxxx, President
[Signatures Continued on Following Page]
CLASS B MEMBER
TOUCHSTONE RESOURCES USA, INC.
By: /s/ Xxxxxxx X. Xxxxxxxxxx
--------------------------------------
Xxxxxx X. Xxxxxxxxxx, President
CLASS C MEMBER
PHT GAS, LCC
By: RMS ADVISORS, INC., Manager
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Xxxxxx X. Xxxxx, President
MAVERICK BASIN EXPLORATION, LLC
MEMBERS
AS OF JULY 14, 2004
NAME PERCENTAGE INTEREST
---- -------------------
Class A Member
South Oil, Inc.
0000 Xxxxxxxxxx Xxxxxx, Xxxxx 000 74.25%
Xxxxxxx, XX 00000
Class B Member
Touchstone Resources, USA, Inc.
000 Xxxxxxxxxxxx Xxxxxxxxx, Xxxxx 000 24.75%
Xxxx Xxxxxx, XX 00000
Class C Member
PHT Gas, LLC
000 Xxxxxxxxxxxx Xxxxxxxxx, Xxxxx 000 1%
Bala Xxxxxx, XX 00000
