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EXHIBIT 10.3
May 11, 2006
Mr. Scott Duncan
Re: Consulting Engagement Confirmation
Dear Mr. Duncan:
This letter is to confirm the terms of your engagement as an
independent
consultant ("Consultant") to Pangea Petroleum Corporation (the
"Company"). The
Company hereby retains the Consultant as interim Chief Financial
Officer (CFO)
and the Consultant hereby accepts and agrees to such retention. You
will provide
advice and services on all financial matters pertaining to the
Company's
business including but not limited to SEC reports (10KSB, 10QSB,
etc.)
Term of Engagement
The term of the engagement shall be one (1) year beginning on June
1, 2006. The
engagement shall terminate on June 1, 2007. The Company is free to
terminate the
engagement earlier, however, early termination will not relieve the
Company of
its obligation to pay the full Consulting Fee unless the reason for
termination
is your failure to satisfactorily perform appropriate services
under this
agreement or your failure to comply with the confidentiality
provisions outlined
in this letter.
Consulting Fee
The fee for each month is forty thousand (40,000) of restricted
Rule 144 shares
of the Company's common stock (symbol "PAPO"). Shares for each
month will be
issued quarterly at the start of each quarter.
Confidentiality
The Consultant r
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