Re: Stock Reconciliation
Exhibit 10.6

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▇▇▇▇▇▇ Investments Limited
▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇▇▇ ▇▇▇
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March 28, 2011
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Re:
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Stock Reconciliation
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Dear ▇▇▇▇▇:
This letter will serve to confirm our understanding and agreement for the issuance of additional shares of ▇▇▇▇▇▇ Petroleum, Inc. (“HPI”) to you as follows:
WHEREAS, you have purchased HPI common stock from ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ individually for a total of $121,550, and you have purchased HPI common stock from HPI directly for a total of $663,892.51 (an aggregate investment equal to $785,442.51 in cash) for which you have been issued 3,945,250 shares; and
WHEREAS, there was an agreement and understanding between us that if HPI sold any stock for a price less than you had previously paid, that you could elect to have your total stock investment be re-priced on a one-time basis, and additional shares issued to reflect such lower stock price; and
WHEREAS, as of the date of this agreement HPI is selling its stock at $0.10 per share.
NOW THEREFORE, in consideration of the above recitals, in order to reconcile the total investment set forth above with such lower price on a one-time basis, the parties hereby agree to the make the following transfer and issuance of an aggregate of 3,909,150 HPI shares, respectively:
1. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ shall transfer to you 672,500 shares of HPI common stock; and
2. HPI shall issue to you an additional 3,236,650 shares of common stock.
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▇▇▇▇▇▇ PETROLEUM, INC.
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By:
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/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ | |
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, President
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| /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ | ||
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Individually
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ACCEPTED & AGREED:
MacKov Investments Limited
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By:
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/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ |
Dated: March 28, 2011
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▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ • OFFICE 801.519.8500
