SALE AND PURCHASE AGREEMENT
EXHIBIT
10.1
EX
- 1 - 10.1
January
20, 2006
Mr.
Xxxxx
Xxxxxx
Xxxxxxxx
Xxxxx Capital Inc.
00
Xxxxxxxx Xx.
Xxxx
Xxxxxxxxx, XX
X00
0X0
Subject: Clovelly
South (the "Project")
Dear
Sir,
This
letter will confirm our agreement to sell and transfer a 5% (five percent)
working interesting in the Project currently owned by Xxxxxxxx Xxxxx (the
"Interest"), to Texhoma Energy, Inc. ("Texhoma"), under the following terms
and
conditions:
1. The
transfer shall occur on or before the commencement of drilling of
the Clovelly
South exploration well and be subject to the approval of ORX
Resources,
Inc. the Operator.
2. Texhoma
accepts responsibility to fun the work program for the Project which
will be performed in accordance with the Joint Operating Agreement:
3. Texhoma
is already a participant in the Project and accepts the additional interest
without the requirement for further documentation or due diligence:
4. Xxxxxxxx
Xxxxx warrants the Interest is free of any liens, claims or liabilities:
5. The
Consideration for the Interest will be the issue of two million
common shares
in
the issued capital of Texhoma and the payment of US$15,000 (fifteen
thousand United
States
dollars):
Texhoma
Energy, Inc.
TXHE:OTCBB
120,
0000 Xxxxxxxxxxxx
Xxxxx
Xxxxxxx,
XX 00000
Investor
Relations:
0-000-000-0000
Fax:
000-000-0000
EX
- 2 - 10.1
Signed: /s/ Xxxxx X. Xxxxxx Accepted:
/s/Mr.
Xxxxx Xxxxxx
Xxxxx X. Xxxxxx, Executive
Chairman
Mr. Xxxxx Xxxxxx
Texhoma Energy,
Inc.
Xxxxxxxx Xxxxx
Witness:_______________________ Witness:_______________________
Date: January 20,
2006
Date: January 20, 2006
EX
- 3 - 10.1