By and Between
El Paso Production Company
Ramshorn Investments, Inc.
Little Lake S.
This Exploration Participation Agreement is dated as of November 6, 2003, and is by and between El Paso
Production Company ("EL PASO") and Ramshorn Investments, Inc. ("PARTICIPANT"), hereinafter referred to
singularly as "Party" and jointly as "Parties."
WHEREAS, El Paso represents, but does not warrant, that it is the owner of a working interest in various oil and
gas leases and lease options located within the Prospects as are more fully described in Exhibits A-1 through A-
WHEREAS, Participant has expressed a desire to earn an interest in the Prospects and participate in the joint
exploration and development of the Prospects as described in Exhibits A-1 through A-3 and establish areas of
NOW, THEREFORE, in consideration of the premises and of the mutual promises exchanged and contained
within this Agreement, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as
SECTION 1 EXHIBITS
All references in this Agreement to Exhibits without further qualification shall mean the Exhibits listed below and
attached to this Agreement. Each of the Exhibits listed below are made part of this Agreement and shall be
deemed incorporated into this Agreement by this reference as if the full text of each Exhibit were contained within
the body of this Agreement. If any provision of any Exhibit is inconsistent with any provision contained in the
body of this Agreement, then the provisions in the body of this Agreement shall prevail.
Exhibit A-1 - Florence Canal Plat and lease schedule
Exhibit A-2 - Blackfish Lake Plat and lease schedule
Exhibit A-3 - Little Lake S. Plat and lease schedule
Exhibit B - Commitment Well List