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OPTION PURCHASE AGREEMENT

Option Purchase Agreement

OPTION PURCHASE AGREEMENT | Document Parties: AMERICAN EXPLORATION CORP | Westrock Land Corp You are currently viewing:
This Option Purchase Agreement involves

AMERICAN EXPLORATION CORP | Westrock Land Corp

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Title: OPTION PURCHASE AGREEMENT
Date: 8/21/2009

OPTION PURCHASE AGREEMENT, Parties: american exploration corp , westrock land corp
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                                                                    EXHIBIT 10.1

                            OPTION PURCHASE AGREEMENT
     (OPTION TO ACQUIRE OIL AND GAS LEASES IN JEFFERSON COUNTY, MISSISSIPPI)


                           American Exploration Corp.
                            Suite 700, 407 2nd St. SW
                            Calgary, Alberta T2P 2Y3

                                       AND

                               Westrock Land Corp.
                                5050 Quorum Drive
                                    Suite 700
                               Dallas, Texas 75254


It is  understood  that  American  Exploration  Corp.,  and/or  its  affiliates,
(hereinafter  referred  to as  "American")  wish to  acquire  5,000 net acres in
mineral  oil and gas leases in the lands  located in  Jefferson  County,  in the
State of  Mississippi,  (hereinafter  referred to as the "Acquired  Properties")
from Westrock Land Corp.,  (hereinafter  referred to as  "Westrock").  It is has
been agreed to by Westrock and American that the Original Option  Agreement (the
"Agreement") of November 3, 2008, except for the revisions contained within this
Option/Purchase  Agreement,  will  remain  in effect  and all  other  conditions
contained  within the Original  Agreement dated November 3, 2008 will remain the
same.

American and Westrock have agreed to the following:

     1.   PURCHASE  PRICE.  The  original  agreed  upon  purchase  price  of the
          Acquired  Properties  between  Westrock and  American  was  $3,125,000
          (three million one hundred and  twenty-five  thousand  dollars) in the
         


 
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