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 Eighteen and 75/100ths percent (18.75%) interest in and to the Leasehold estate created by the hereinafter-identified oil, gas and/or mineral Leases, insofar as said oil, gas and/or mineral Leases cover the hereinafter described lands, and is agreeing to participate in the drilling and testing of a certain oil and gas exploration test well (the "Test Well") on lands covered by such oil, gas and/or mineral Leases.
