Exhibit 10.1
Fredco, LLC.
P.O. Box 365
Hosston, La. 71043
September 9, 2009
Avro Energy, Inc.
0 Xxxxxx Xxxx
Xxxxxxxxx, Xxxx Xxxxxx
Xxxxxxx XX000 0XX
Dear Sir:
Fredco, LLC. does hereby agree to convey, assign and deliver a 80% Net Revenue
Interest in and to that certain oil, gas, and mineral leases referred to as the
Muslow A, B, and C Lease; and all its rights, title and interest in the Caddo
Levee Board Lease; to the base of the Paluxy Formation; together with all xxxxx
and equipment located thereon and pertaining thereto for the payment of Seventy
Thousand ($70,000.00) Dollars payable as follows: $35,000.00 non-refundable
payment due October 20, 2009, and the balance of $35,000.00 due November 30,
2009. Failure to pay as stated by November 30, 2009, shall ipso facto cancel
this agreement and all rights revert back to Fredco, LLC.
This sublease is made without warranty. Fredco, LLC has owned, possessed, and
operated said lease peaceable and to its knowledge and belief no current
problems exist as to the working interest ownership in this lease. Fredco, LLC
does hereby state that it has been in compliance with the Louisiana Conservation
Rules and Regulations, and to its knowledge and belief knows of no environmental
issues pending or violations against said lease.
Very truly yours,
`Xxxx Xxxxxxx`
Xxxx Xxxxxxx
Manager, Fredco, LLC
I hereby agree to the above terms and conditions in this letter of agreement
dated September 9, 2009, signed this 9th day of September, 2009.
`Xxxxx Xxxxxxxxxx`
Xxxxx Xxxxxxxxxx
Director, Avro Energy, Inc.
