GEOCOM RESOURCES INC. Suite 413, 114 West Magnolia Street Bellingham, WA 98225 USALetter of Intent • April 29th, 2003 • Geocom Resources Inc • Drilling oil & gas wells
We provide this letter to confirm that it is our intention to enter into a formal agreement (the "Formal Agreement") by which you will grant us and we will acquire an option to purchase a 75% working interest in the Property. We acknowledge that this letter (the "Letter of Intent") is an expression of intent only and that it does not result in the formation of a binding agreement between us other than in respect of paragraphs 7 and 8 which will be binding obligations on the parties in accordance with their terms. Instead, the purpose of this Letter of Intent is to establish a framework for the Financing and to serve as a guideline for preparing the Formal Agreement.
