Boundary Bay Resources Corporation Kelowna, BC Canada V1Y8C1 Dear Sir: Subject: East Holley Area/DeSoto Parish, La.
Exhibit 10.5
Xxxxxxxx Resources Inc. |
1320 000 Xxxx Xxxxxxx Xxxxxx |
Xxxxxxxxx, XX X0X0X0 |
December 18, 0000 |
Xxxxxxxx Xxx Resources Corporation
0000 Xxxxx Xxxxx
Xxxxxxx, XX
Xxxxxx X0X0X0
Dear Sir:
Subject: East Xxxxxx Area/DeSoto Parish, La.
The following hereby summarizes the terms and conditions of the agreement by and between Xxxxxxxx Resources Inc., hereinafter referred to as “Seller,” and Boundary Bay Resources Corporation, hereinafter referred to as “Purchaser”, covering the East Xxxxxx Area, DeSoto Parish, Louisiana.
The East Xxxxxx Area is hereby described as consisting of Sections 11, 12, 13, 14, 15, 16, 20, 21, 22 and 23, Township 13 North, Range 14 West and Section 7 in Township 13 North, Range 13 West, all in DeSoto Parish, Louisiana.
Purchaser agrees to purchase from Seller for $50,000.00 U.S., the right to participate for a five per cent (5%) Working Interest in the initial well drilled by Seller, or the Operator as the case may be. Purchaser agrees to pay in addition to the $50,000.00 described above, 5% of the total cost to drill and complete the initial well. It is understood and agreed this right to participate is only for the first well drilled by Seller or Operator in the East Xxxxxx Area.
In the event you are agreeable to the terms described above please sign in the space below and return one completely executed original to Seller at the address described above.
Sincerely yours, |
/s/ Xxxxx Xxxxxxxxx |
Xxxxx Xxxxxxxxx |
AGREED TO AND ACCEPTED THIS DAY OF , 2007.
BOUNDARY BAY RESOURCES CORPORATION | ||
By: |
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