EXHIBIT 10.19
ASSIGNMENT OF STOCK PURCHASE AGREEMENTS
Xxxxxxxxx Energy Inc. ("Xxxxxxxxx"), a Delaware corporation, 0000 00"
Xxxxxx, Xxxxx 000, Xxxxxxxx, XX 00000 for and in consideration of the sum of Ten
Dollars ($10.00) and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, does hereby Grant, Bargain, Sell,
Assign, Convey, and Transfer to Gulfport Oil & Gas Inc., ("Gulfport") a Delaware
corporation, 0000 00' Xxxxxx, Xxxxx 000, Xxxxxxxx, XX 00000, all of its right,
title, and interest in the following described Agreements: Stock Purchase
Agreement by and between ARXA International Energy Inc. ("ARXA") and Xxxxxxxxx
dated April 2, 1999; Amended Stock Purchase Agreement by and between ARXA and
Xxxxxxxxx dated April 28, 1999.
Xxxxxxxxx hereby represents and warrants that it is a validly existing
corporation in good standing under the laws of the state of Delaware and has
full right, power and authority to enter into and execute this Assignment of
Stock Purchase Agreements and has duly executed this Assignment. This Assignment
of Stock Purchase Agreements is legal, valid and binding upon Xxxxxxxxx and is
enforceable against Xxxxxxxxx in accordance with the above terms. It is the
intent of Xxxxxxxxx to xxxxx, bargain, sell, and assign to Gulfport all right,
title and interest in the above Agreements to purchase 21 million shares of
common stock in ARXA.
EXECUTED AND DELIVERED THIS 7th DAY OF MAY, 1999.
Xxxxxxxxx Energy Inc.
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
President
