THIS AGREEMENT made on February 12, 2009Membership Interest Agreement • February 19th, 2009 • Mogul Energy International, Inc. • Crude petroleum & natural gas • California
The Company has agreed to permit Mogul to subscribe for a 40% Members Percentage Interest in the Company in consideration of the Capital Contribution by Mogul to the Company of US$2,300,000 (which monies the Company shall use to acquire and develop the Californian Leases (defined below) for the benefit of all Members and to repay the shareholder loan in accordance with clause 6) on and subject to the following terms and conditions.
