April 26, 2007Participation Agreement • May 8th, 2007 • Universal Energy Corp. • Services-personal services • Texas
This agreement, together with all exhibits attached hereto and made a part hereof (hereinafter collectively referred to as the "Agreement") shall confirm and set forth the understanding of, and agreement to, the terms, provisions and conditions pursuant to which Universal Explorations Corp. ("Universal"), is acquiring an undivided Five and 625/1,000ths percent (5.625%) of 8/8ths interest in and to the leasehold estate created by the hereinafter-identified oil, gas and mineral leases and is agreeing to participate in the drilling and testing of a certain oil and gas exploration test well (the "Test Well") on the lands covered by such leases.
