TAMM
      OIL AND GAS CORP.

    Suite
      460, 734 — 7th Avenue SW

    Calgary,
      Alberta T2P 3P8

    


    November
      26, 2007

     

    
      	
              TO:
                

            	
              Muzz
                Investments Inc.

            
	 	
              3779
                34 Street

            
	 	
              Delta,
                BC V4K 3N2

            
	 	 
	
              AND
                TO: 

            	
              1004731
                Alberta Ltd.

            
	 	
              460,
                734 - 7th
                Avenue
                S.W.

            
	 	
              Calgary,
                AB T2P 3P8

            


    

    


    


    Dear
      Sirs:

    


    RE:
      Acquisition of Royalty Interest

    


    This
      letter sets out the agreement (“Agreement”) reached among Tamm Oil and Gas Corp.
      as purchaser (“Tamm”), and 1004731 Alberta Ltd. (“1004731”) and Muzz Investments
      Inc. (“Muzz”), as vendors (collectively the “Vendors”) regarding the transfer
      and sale by the Vendors of all of their interest in the Royalty Agreement and
      Royalty (both as hereinafter defined) to Tamm by the Vendors upon the terms
      and
      conditions set forth herein.

    


    Acquisition

    


    
      	1.	
              The
                Vendors hereby agree to sell, assign and transfer to Tamm their entire
                right, title and  interest
                in the Muzz Assets and the 1004731 Assets on the terms and subject
                to the
                 conditions
                set out in this Agreement (the “Sale
                Transaction”).

            


    

    


    Definitions

    


    
      	2.	
              In
                this Agreement the following terms have the following
                meanings:

            


      	 	 


      	 	
              “1004731
                Assets” means a 1.25% interest in the Royalty Agreement, Royalty and Trust
                Agreement;

              


              “Muzz
                Assets” means a .75% interest in the Royalty Agreement, Royalty and Trust
                 Agreement;

              


              “Royalty”
                means all right, title and interest granted to the grantee pursuant
                to the
                Royalty Agreement;
                and

              


              “Royalty
                Agreement” means that royalty agreement made between Mikwec Energy
                 Canada
                Ltd., as grantor, and Nearshore Petroleum Corporation, as grantee,
                dated
                 December
                12, 2003; and

              


              “Trust
                Agreement” means the Recognition of Trust made by Nearshore Petroleum
                 Corporation
                in favour of the Vendors, and others, dated December 12,
                2003.

            


    

     

    


    
      
         

      

      
         

        
          

        

      

      
         

      

    

    


    Consideration

    


    
      	3.	
              In
                consideration for the sale and transfer to Tamm of the Muzz Assets
                and
                1004731  Assets,
                 Tamm
                agrees to issue to the Vendors 4,000,000 shares of common stock of
                 Tamm.
                This represents 4.15% of the 96,300,000 issued and outstanding common
                stock of  Tamm
                 (the
                “Tamm Shares”) 

            


    

    


    
      
        	4.	
                The
                  Vendors acknowledge that the Tamm Shares will be restricted and
                  acknowledges  that
                  the Tamm Shares issued pursuant to the terms and conditions set
                  forth in
                  this  Agreement
                  will have such hold periods as are required under applicable securities
                  laws  and
                  as a result may not be sold, transferred or otherwise disposed,
                  except
                  pursuant to an  effective
                  registration statement under the Securities Act, or pursuant to
                  an
                  exemption  from,
                  or in a transaction not subject to, the registration requirements
                  of the
                  Securities Act  and
                  in each case only in accordance with all applicable securities
                  laws. Tamm
                  has not
                  undertaken, and will have no obligation, to register any of the
                  Tamm
                  Shares under the Securities
                  Act; provided, however, that Tamm will assist in providing legal
                  opinions
                   when
                  the Selling Shareholder may resell its respective shares under
                  Rule 144
                   promulgated
                  under the Securities Act.

              


      

    

    


    Closing
      and Definitive Agreements

    


    
      	5.	
              The
                Closing will take place, subject to the terms and conditions of this
                Agreement, on
                the Closing Date.

            


    

    


    
      	6.	
              Closing
                of the transactions contemplated herein (the “Closing”) will occur on or
                before  January
                31, 2008 or on such other date as the parties may agree (the “Closing
                Date”), to  be
                held at the City of Vancouver, Canada, at such place and time as
                the
                parties may  agree.

            


    

    


    
      	7.	
              The
                parties agree to instruct their attorneys to co-operate and complete
                comprehensive  and
                definitive agreements for the Sale Transaction upon execution of
                this
                Agreement.  The
                definitive agreements will contain terms and representations customary
                for
                 agreements
                governing the purchase and sale of a royalty in Canada, as prepared
                by
                 commercial
                legal counsel of good reputation. In the event that any matter cannot
                be
                 resolved
                or agreed, the terms of this Agreement will govern respecting that
                matter.
                If no  definitive
                agreements are executed by the parties hereto, this Agreement will
                remain
                in  full
                force and effect.

            


    

    


    Due
      Diligence

    


    
      	8.	
              Tamm
                and the Vendors will each have the right to conduct due diligence
                on the
                other in  connection
                with the transactions contemplated hereunder. Each of Tamm and the
                 Vendors
                and their respective accountants, legal counsel and other representatives
                will  have
                full access during normal business hours to the management, properties,
                books,  records,
                contracts, commitments and other documents of the other and their
                subsidiaries  in
                connection with the transactions contemplated
                herein.

            


    

    


    


    
      
         

      

      
         

        
          

        

      

      
         

      

    

    


    Closing
      Conditions

    


    
      	9.	
              This
                Agreement and the Closing hereof is subject to the
                following:

            


    

     

    
      	
            	(a)	
              all
                representations and warranties contained herein and to be contained
                in the
                definitive
                agreements described in Sections 10 and 11 hereof shall be true and
                correct
                at the date of Closing.

            


    

    


    Representations
      of Tamm

    


    
      	10.	
              Tamm
                represents and warrants to the Vendor
                that:

            


    

    


    
      	
            	(a)	
              the
                authorized capital of Tamm consists of 300,000,000 common shares
                with
                a par
                value of $0.001 per share, of which there are presently 92,300,000
                common shares
                issued and outstanding;

            


    

    


    
      	
            	(b)	
              inclusive
                to what is set out in (a) above and as contemplated under
                this Agreement,
                there are 800,000 Warrants issued and outstanding with an exercise
                price
                of $1.75. There are no additional other rights, warrants or
                options outstanding
                pursuant to which any shares of Tamm may be issued and there
                are no
                other securities issued and outstanding or issuable which are or
                may be
                convertible
                or converted into shares of Tamm;

            


    

    


    
      	
            	(c)	
              Tamm
                is duly incorporated under the laws of the state of
                Nevada;

            


    

    


    
      	
            	(d)	
              Tamm
                is a reporting issuer under the Securities
                Exchange Act of 1934;
                and

            


    

    


    
      
        	
              	(e)	
                all
                  of Tamm’s continuous disclosure filings with the United States Securities
                  and Exchange
                  Commission (the “SEC”) are in good standing and are complete
                  and accurate
                  and other than as contemplated herein, there are no material changes
                  in Tamm’s
                  business and affairs from that which is disclosed in Tamm’s
                  continuous disclosure
                  documents.

              


      

    

    


    


    Representations
      of the Vendors

    


    
      	11.	
              Each
                of the Vendors represent and warrant to Tamm
                that:

            


    

    


    
      	
            	(a)	
              1004731
                is the beneficial owner of 1004731
                Assets;

            


    

    


    
      	
            	(b)	
              Muzz
                is the beneficial owner of the Muzz Assets;
                and

            


    

    


    
      	
            	(c)	
              Each
                of the Vendors has the full power and authority to transfer or cause
                to
                be transferred
                the Muzz Assets and the 1004731 Assets to Tamm free and clear
                of any
                charges, encumbrances, liens or
                claims.

            


    

    


    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Covenants

    


    
      	12.	
              Tamm
                hereby covenants to the Vendors as
                follows:

            


    

    


    
      	
            	(a)	
              Tamm
                shall conduct its business in the ordinary and normal course and
                shall
                not, without
                the prior written consent of the Vendors, enter into any transaction
                which would
                cause any of its representations or warranties or agreements contained
                in this
                Agreement to be incorrect or to constitute a breach of any covenant
                or agreement
                of Tamm herein;

            


    

    


    
      	
            	(b)	
              Each
                of the Vendors hereby covenants to Tamm that neither of the Vendors
                will transfer
                any of their interest in the Royalty Agreement, the Trust Agreement
                or the
                Royalty to any other party except in accordance with the terms of
                this Agreement.

            


    

    


    Binding
      Agreement

    


    
      	13.	
              Upon
                acceptance of the terms of this Agreement by all of the parties hereto,
                this  Agreement
                shall be deemed to constitute and shall be a legally valid and binding
                 agreement.

            


    

    


    Confidentiality

    


    
      	14.	
              The
                Vendors acknowledge that Tamm is a public company and has an obligation
                to
                 disclose
                all material information about its affairs. The Vendors agree that
                they
                will not  trade
                in the securities of Tamm while in possession of, nor will they inform
                others of  (except
                on a need to know basis), any non-disclosed material information
                about
                Tamm.

            


    

    


    General

    


    
      	15.	
              All
                Tamm’s legal costs in connection with the preparation of this Agreement
                and the  completion
                of the transactions contemplated herein shall be for the account
                of Tamm,
                 whether
                or not the transactions contemplated hereby are completed. The Vendors
                will  pay
                their own legal costs of review of this Agreement and any definitive
                agreements  prepared
                by Tamm’s legal counsel.

            


    

    


    
      	16.	
              This
                Agreement shall be governed and interpreted in accordance with the
                laws of
                the  Province
                of Alberta.

            


    

    


    
      	17.	
              This
                Agreement may be executed in counterparts with the same effect as
                if each
                of the  parties
                hereto had signed the same document and all counterparts will be
                construed
                 together
                and constitute one and the same
                instrument.

            


    

    


    
      	18.	
              This
                Agreement will inure to the benefit of and be binding upon the parties
                hereto and  their
                respective heirs, executors, personal representatives, successors
                and
                assigns.

            


    

    


    
      	19.	
              This
                Agreement represents the entire agreement between the parties with
                respect
                to the transactions
                contemplated herein and supersedes all other prior agreements,
                 understandings,
                negotiations and discussions.

            


    

    


    If
      the
      foregoing correctly sets out the terms of our agreement, please execute this
      letter in the space provided.