PARTICIPATION AGREEMENTParticipation Agreement • August 25th, 2005 • Quest Oil Corp • Crude petroleum & natural gas • Alberta
WHEREAS pursuant to an Agreement (hereinafter referred to as "the Farmout Agreement") dated the 21st day of January, 2005, and made between Hanna Oil and Gas Company -Canada, Inc, Firefly Resources Ltd. and Moraine Resources Ltd. (hereinafter collectively referred to as the “Farmor”) and the Grantor (hereinafter sometimes referred to as the “Farmee”), it is provided that the Farmee, by performing certain obligations contained in the Farmout Agreement, will become entitled to earn an interest in certain title documents and the lands associated therewith, all as more particularly described in the Farmout Agreement (a true and correct copy of which is attached hereto as Schedule "A");
THIS AGREEMENT MADE THIS 12 DAY OF August, 2005 BETWEEN Quest Canada Corp. (the "Company") AND TransAction Oil & Gas Ventures Inc. (the "Operator")Agreement • August 25th, 2005 • Quest Oil Corp • Crude petroleum & natural gas • Alberta
This Agreement covers Services rendered by the Operator covering the drilling of a test well on the prospects as outlined in Schedule C, including all follow up wells. This Agreement may be terminated at any time by either party for breach or neglect of duty by the other, which is not remedied within 30 days after written notice by either party. No termination shall prejudice the Operator's rights to payments for Services completed prior to the effective date of termination.
FARMOUT and OPTION AGREEMENT Empress Area, Alberta Made as of the 21st day of January, 2005Farmout and Option Agreement • August 25th, 2005 • Quest Oil Corp • Crude petroleum & natural gas
WHEREAS Farmor is prepared to grant Vega the right to earn an interest in the Farmout Lands and the Option Lands in which Farmor holds an undivided one hundred percent (100%) working interest, on the terms and conditions herein provided.
