LETTER AGREEMENTDevelopment Agreement |
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Exhibit 10.1
LETTER AGREEMENT
October 28, 2005
Mr. Ron Hietala
Triangle USA Petroleum Corporation
Suite 1110, 521 - 3 Avenue SW
Calgary, Alberta T2P 3T3
Dear Ron,
The following is a summary table demonstrating the terms and conditions related to our deal to jointly develop certain oil & gas properties from the Hunter Energy LLC portfolio.
Triangle USA Petroleum Corporation commits to the purchase of 25% Working Interest positions in three prospects located as follows:
Price:
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Prospect |
Acquisition Fee |
Land Purchase AFE |
Discovery Well AFE |
Provisional Total |






