FAIRCHILD INTERNATIONAL CORPORATIONTransfer of Oil and Gas Interests • April 15th, 2005 • Fairchild International Corp • Mining & quarrying of nonmetallic minerals (no fuels)
This letter will serve to confirm our agreement whereby Fairchild International Corporation (“Fairchild”) has agreed to convey its interests in the Kerrobert Saskatchewan Oil and Gas Drilling Program previously acquired from Patch Energy Inc. (“Patch”) back to Patch and in consideration therefore Patch has agreed to forgive the outstanding indebtedness otherwise owing by Fairchild to Patch, as recorded in the books of the two companies (estimated to be approximately $15,000).
