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LETTER AGREEMENT

Development Agreement

LETTER AGREEMENT You are currently viewing:
This Development Agreement involves

Triangle Petroleum CORP | Triangle USA Petroleum Corporation | Hunter Energy LLC

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Title: LETTER AGREEMENT
Date: 11/8/2005

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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