PERMIAN BASIN ACQUISITION FUND Mineral Company WATTS (800) 488-4042 Telephone (432) 684-4042Permian Basin • February 1st, 2008 • Kingsley Resources, Inc.
This agreement dated December 11, 2007, is between Permian Basin Acquisition Fund (“Assignor”) whose address is P.O. Box 3579, Midland, TX 79702 and Kingsley Resources, Inc. (“Assignee”) whose address is 1936 Alcoba Ridge Dr., Las Vegas, Nevada 89135. In consideration of the mutual promises herein, the benefits to be derived by each party hereunder, the payment of One Hundred Thousand Dollars ($100,000.00) from Assignee to Assignor contemporaneously with the execution hereof, the receipt of which is hereby acknowledged by Assignor, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor and Assignee agree as follows:
