STOCK OPTION AGREEMENT FAIRCHILD INTERNATIONAL CORPORATIONStock Option Agreement • November 14th, 2003 • Fairchild International Corp • Mining & quarrying of nonmetallic minerals (no fuels)
FAIRCHILD INTERNATIONAL CORPORATION, a company incorporated pursuant to the laws of the State of Nevada, having an office address at Suite 1220, 666 Burrard Street, Vancouver, British Columbia V6C 2X8
SUB-PARTICIPATION AGREEMENTSub-Participation Agreement • November 14th, 2003 • Fairchild International Corp • Mining & quarrying of nonmetallic minerals (no fuels)
Pursuant to the terms of a participation agreement dated September 30, 2003 (the "Participation Agreement") between Patch, and PB Energy USA Inc. ("PB"), Patch was granted the right to earn a 3.75% working interest in the Test Well and a 3.75% working interest in the Program Lands (as those capitalized terms are defined in this Participation Agreement) by paying 5% of the Prospect Acquisition Costs being US$15,000, 5% of the Test Well Operations and 3.75% of the costs of Development of Program Lands, (collectively "the Costs") (as those capitalized terms are defined in the Participation Agreement (the "Interest");
PARTICIPATION AGREEMENTParticipation Agreement • November 14th, 2003 • Fairchild International Corp • Mining & quarrying of nonmetallic minerals (no fuels)
Pursuant to the terms of a farmout and joint operating agreement dated May 1, 2002 (the "Farmout Agreement") between Patch, True Energy Inc. and Arsenal Energy Inc., Patch has earned a 12.5% interest (the "Interest") in the Farmout Lands (as defined in the Farmout Agreement);
PATCH ENERGY INC.Fairchild International Corp • November 14th, 2003 • Mining & quarrying of nonmetallic minerals (no fuels)
This letter will serve to confirm that, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Patch Energy Inc. ("Patch") has agreed to negotiate in good faith with Fairchild International Corporation ("Fairchild") for the purposes of giving Fairchild the opportunity to participate in any ventures to which Patch may become a party arising out of Patch's relationship with NAFTOGAZ, the Ukranian State oil company.
