EXHIBIT 10.3
EXTENSION
OF
FARMOUT AGREEMENT
This Extension of Farmout Agreement ("Extension") is entered into on this 13th
day of October, 2009, by and between Xxxxxx Investments, Inc. ("Xxxxxx"), a
Wyoming Corporation, and Xxxxxx X. Xxxxxx ("Farmor").
WHEREAS, on August 28, 2006, Xxxxxx and Farmor entered into a Farmout
Agreement ("the Farmout Agreement") whereby Xxxxxx agreed to commit and
drill xxxxx in certain areas detailed in the Farmout Agreement, hereby
attached as EXHIBIT A;
WHEREAS, the Farmout Agreement provides for Xxxxxx to commence the
drilling of an initial well by December 10, 2007 or as soon thereafter;
and
WHEREAS, both Xxxxxx and Xxxxxx wish to extend the term of the Farmout
Agreement.
NOWTHEREFORE BE IT:
(1) The Farmout Agreement of August 28, 2006 is hereby amended to extend the
time required to commence the drilling of the initial well to December 31,
2010.
(2) That all other rights, terms and obligations of the Farmout Agreement
remain unchanged and in effect.
Accepted and hereby agreed to this 13th day of October, 2009.
XXXXXX INVESTMENTS, INC. XXXXXX X. XXXXXX
/s/ Xxx Xxxxx /s/ Xxxxxx X Xxxxxx
-------------------------------------------- -------------------
Xxx Xxxxx, President Xxxxxx X. Xxxxxx,
Individually
