Pedevco Corp. – Promissory Note (September 23rd, 2010)
This promissory note (this "Note") is due and payable in $10,000.00 monthly payments (with a balloon payment due at maturity), with the first $10,000.00 payment being due and payable on October 31, 2010 with a like $10,000.00 payment being due and payable on each and every month thereafter, with the final payment of all amounts due and owing under this Note, being due and payable on October 8, 2011. No failure to pay any amount due hereunder shall be considered an Event of Default hereunder until ten (10) days after written notice of Maker's failure to pay such amount has been communicated to Maker by Payee (each a "Ten Day Period"), and Maker has failed to pay such payment during such Ten Day Period. In the event Maker makes such payment during the Ten Day Period, there shall be no effect on this Note or amounts due hereunder as a result of Maker's failure to pay such amount when initially due as provided above. An "Event of Default" shall be deemed to have occurred hereunder in t
Pedevco Corp. – Letter of Intent to Acquire Sugar Valley Interest (May 3rd, 2010)
This letter is intended to summarize the principal terms of the proposed acquisition by Blast Energy Services, Inc., a Texas corporation ("Blast") of Sun Resources Texas, Inc., a Texas corporation ("Sun") interest in the Sugar Valley Field with an option to acquire all additional assets of Sun.