CORPORATE PROMISSORY NOTE
$50,000 U.S. dollars Date: June 2, 2000
FOR VALUE RECEIVED Energas Resources, Inc. (EEG) and George G. Shaw, the undersigned, jointly and
severally, promise to pay to Mark Swan Trust C/O Carl W. Swan, or order, the principal sum of fifty-six
thousand-two hundred and fifty ($56,250) dollars, which includes an interest payment of six thousand- two
hundred and fifty ($6,250) dollars, at the rate of twenty- five percent (25%) per annum, and a principal payment
of Fifty thousand dollars ($50,000), both principal and interest payable in lawful money of the United States of
America. In addition to the interest paid, EEG shall provide upon funding fifty thousand (50,000) warrants for
EEG common stock priced at U.S. $1.00 per share with each warrant representing one share. The effective date
of this note is June 2, 2000. The closing date of this note is June 2, 2000. This note will be payable in lump sum,
fifty-six thousand - two hundred and fifty dollars, ($56,250), six (6) months from the closing date or December
The following terms and conditions shall be valid throughout the life of the Note:
A. The proceeds from this note will be used to fund the purchase of G.M. Oil properties. Any balance remaining
will be used to maintain on-going expenses.
B. Unless otherwise provided, this Note may be prepaid in full or in part at any time without penalty or premium.
C. 200,000 shares of EEG Common Stock will be pledged as collateral for this note personally from the account
of George G. Shaw.
D. George G. Shaw personally guarantees this note in addition to EEG.
E. This note can be converted to EEG Common Stock at any time up to 5:00 CST on December 1, 2000 at the
discretion of the lender in writing to EEG. Any request for conversion of this note to EEG Common Stock will be
considered as a "LOCK" and the price of the stock will be reflected according to the requirements of term (D) of
D. Any EEG Common Stock issued as a result of convert