TAPO Energy, LLC West Union, WV 26456 May 15, 2009 Re: Purchase of Property- Letter Agreement Dear Mr. Polling:Indigo-Energy, Inc. • July 21st, 2009 • Crude petroleum & natural gas • New York
This Letter Agreement shall serve to memorialize our understanding with respect to TAPO’s purchase of an aggregate of 420 acres (the “Indigo Property”) in Gilmore Township and Freeport Township, Greene County, Pennsylvania and Batello District, Monogalia County, West Virginia (less certain acreage previously transferred to TAPO in connection with the Modification and Settlement Agreement dated March 3, 2008 which acreage equals a total of 60 acres offsetting the existing three wells owned by Indigo-Energy, Inc. (“Indigo”)) from Indigo for an aggregate purchase price of $630,000 (which is equal to 420 acres less the 60 acres offset netting 360 acres at $1,750 per acre) and shall constitute a binding agreement. The Indigo Property is described in more detail on Exhibit A to this letter Agreement.
FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • July 21st, 2009 • Indigo-Energy, Inc. • Crude petroleum & natural gas • West Virginia
THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Agreement”), dated as of July 16, 2009 (the “Execution Date”), is by and between INDIGO-ENERGY, INC., a Nevada corporation, hereinafter referred to as “Seller”, BLUESTONE ENERGY PARTNERS, a West Virginia general partnership (“Purchaser”), and GERSTEN SAVAGE LLP, as “Escrow Agent”. Seller, Purchaser and Escrow Agent are sometimes referred to herein together as the “Parties” and individually as a “Party”.
