Filed by sedaredgar.com - Maverick Minerals Corp. - Exhibit 10.2






THIS LOAN AGREEMENT (the “Loan Agreement”) is
dated as of the 13th day of February, 2009

AMONG:

MAVERICK MINERALS CORPORATION,
a Nevada corporation with an address for business at 2501 Lansdowne Ave,
Saskatoon, Saskatchewan, Canada, S7J 1H3 

(the “Borrower”)

AND:

SENERGY PARTNERS LLC, a limited
liability company with an address for business at 2245 N. Green Valley Pkwy,
Ste. 429, Henderson, Nevada 89014

(the “Lender”)

WHEREAS:

A. The Lender has agreed to establish in favour of the Borrower
a revolving loan for in the aggregate amount of up to $1,000,000 (the
“Loan”), subject to, among other things, the execution and delivery of
this Loan Agreement; and

B. The Lender and Borrower are entering into this Loan
Agreement to provide for the terms of the Loan established in favour of the
Borrower.

THEREFORE, for value received, and intending to be
legally bound by this Loan Agreement, the parties agree as follows:

ARTICLE 1 
DEFINED TERMS

1.1 Defined Terms

     In this Loan Agreement, unless
something in the subject matter or context is inconsistent therewith:

	 	(a) 	
      “Advance” means an advance on account of the
      Loan;

	 	 	 
	 	(b) 	
      “Applicable Law” means all public laws, statutes,
      ordinances, decrees, judgments, codes, standards, acts, orders, by-laws,
      rules, regulations, official body consents, permits, binding policies and
      guidelines, and requirements of any Governmental Authority, which now or
      hereafter may be lawfully applicable to and enforceable against the
      Borrower or its property or any part thereof.

	 	 	 
	 	(c) 	
      “Borrower” means Maverick Minerals
    Corporation.

	 	 	 
	 	(d) 	
      “Business Day” means a day of the year, other than
      Saturday or Sunday, on which banks are open for business in Saskatoon,
      Saskatchewan.








	 	(e) 	
      “Closing Date” means February 13th, 2009 or such
      later date as agreed by the Lender and the Borrower.

	 	 	 
	 	(f) 	
      “Debt Settlement Agreement” means the debt
      settlement agreement dated as of February 10th, 2009 between
      the Borrower and the Lender attached as Schedule “B” hereto;

	 	 	 
	 	(g) 	
      “Encumbrances” means and includes any mortgage,
      charge, hypothec, privilege, pledge, security interest, lien, claim and
      encumbrance of any nature whatsoever or howsoever arising in respect of or
      affecting any Property, and includes any renewals or extensions thereof,
      which is not effectually postponed, subordinated or waived in favour of
      the indebtedness and liability from time to time in respect of the
      Loans.

	 	 	 
	 	(h) 	
      “Event of Default” has the meaning defined in
      Section 7.1.

	 	 	 
	 	(i) 	
      “GAAP” means generally accepted accounting
      principles in effect from time to time in the United States.

	 	 	 
	 	(j) 	
      “Governmental Authority” means, when used with
      respect to any person, any government, parliament, legislature, regulatory
      authority, agency, tribunal, department, commission, board,
      instrumentality, court, arbitration board, or arbitrator or other law,
      regulation or rule making entity (including a Minister of the Crown, any
      central bank, Superintendent of Financial Institutions or other comparable
      authority or agency) having or purporting to have jurisdiction on behalf
      of, or pursuant to the laws of, Canada or any country in which such person
      is incorporated or otherwise created or established or in which such
      person has any Property or carries on business, or any province,
      territory, state, municipality, district or political subdivision of any
      such country or of any such province, territory or state of such
      country.

	 	 	 
	 	(k) 	
      “Interest Rate” means 8% per annum calculated and
      compounded monthly, not in advance as well after as before maturity,
      default and judgment on the outstanding daily balance of the Loan based on
      the number of days elapsed in a 365 day year;

	 	 	 
	 	(l) 	
      “Lender” means Senergy Partners LLC.

	 	 	 
	 	(m) 	
      “Loan” means the revolving loan in the maximum
      principal amount of $1,000,000.

	 	 	 
	 	(n) 	
      “Maturity Date” means December 31, 2012, unless
      sooner determined due to the occurrence of an Event of Default;

	 	 	 
	 	(o) 	
      “Material Adverse Effect” means a material adverse
      effect (or a series of adverse effects, none of which is material in and
      of itself but which, cumulatively, (i) constitutes a material adverse
      change in the business, operations, financial condition or properties of
      the Borrower taken as a whole; (ii) that materially impairs the ability of
      the Borrower to timely and fully perform its obligations under the Loan
      Agreement, or (iii) that materially impairs the ability of the Lender to
      enforce its rights and remedies under this Loan Agreement.

	 	 	 
	 	(p) 	
      “Obligations” means all obligations of the
      Borrower to the Lender under or in connection with this Loan Agreement,
      including but not limited to all debts and liabilities, present or future,
      direct or indirect, absolute or contingent at any time owing by the
      Borrower to the Lender or remaining unpaid by the Borrower to the Lender
      or in








	 		
      connection with this Loan Agreement, whether arising from
      dealings between the Lender and the Borrower or from any other dealings or
      proceedings by which the Lender may be or become in any manner whatever a
      creditor of the Borrower under or in connection with this Loan Agreement,
      and wherever incurred, and whether incurred by the Borrower alone or with
      another or others and whether as principal or surety, and all interest,
      fees, legal and other costs, charges and expenses.

	 	 	 
	 	(q) 	
      “Permits” means licenses, authorizations,
      consents, certificates, registrations, exemptions, permits and other
      approvals, obtained from or required by a Governmental
Authority.

	 	 	 
	 	(r) 	
      “Permitted Encumbrances” means, with respect to
      any Person, the following:




	 	(i) 	
      Encumbrances for taxes, rates, assessments or other
      charges of Governmental Authorities, charges or levies not yet due, or for
      which instalments have been paid based on reasonable estimates pending
      final assessments, or if due, the validity of which is being contested
      diligently and in good faith by appropriate proceedings by that person and
      for which adequate reserves have been established in accordance with
      GAAP;

	 	 	 
	 	(ii) 	
      undetermined or inchoate Encumbrances, rights of distress
      and charges incidental to current operations which have not at such time
      been filed or exercised and of which none of the Lender has been given
      notice, or which relate to obligations not due or payable or if due, the
      validity of which is being contested diligently and in good faith by
      appropriate proceedings by that person;

	 	 	 
	 	(iii) 	
      to the extent a security interest is constituted or
      created thereby, any right of first refusal in favour of any person
      granted in the ordinary course of business with respect to the properties
      of the Borrower, which in the aggregate do not detract materially from the
      value of any part of the Property of the Borrower or its use in the
      operations of the Borrower;

	 	 	 
	 	(iv) 	
      any interest of a third party under any pooling, unit
      development, overriding royalty, net profits interest, carried interest,
      reversionary interest or operating agreement affecting mineral or other
      natural resource rights entered into in the ordinary course of business
      between arm’s length third parties on reasonable commercial terms;
    and

	 	 	 
	 	(v) 	
      other Encumbrances expressly agreed to in writing by the
      Lender,




	 		
      provided that nothing in this definition or this Loan
      Agreement shall (A) be construed as evidencing an intention or agreement
      on the part of the Lender that the Obligations hereunder be or have been
      subordinated to any such Permitted Encumbrance, or (B) cause any such
      subordination to occur.

	 	 	 
	 	(s) 	
      “Person” means and includes an individual, a
      partnership, a joint venture, a corporation, a limited liability company,
      a trust, an unincorporated organization and a government or any department
      or agency thereof;

	 	 	 
	 	(t) 	
      “Property” means, with respect to any person, any
      or all of its undertaking, property and
assets.








	 	(u) 	
      “Securities Laws” means all applicable securities
      laws in the relevant jurisdictions and the respective regulations made
      thereunder, together with applicable published fee schedules, prescribed
      forms, policy statements, orders, blanket rulings and other regulatory
      instruments of the securities regulatory authorities in such
      jurisdictions.

	 	 	 
	 	(v) 	
      “Security Documents” means the security documents
      set out in Section 8.1 to this Agreement and any other security
      document from time to time taken by the Lender from the Borrower as
      security for the payment, observance and performance of the Loan in whole
      or in part;

	 	 	 
	 	(w) 	
      “Taxes” means all taxes, levies, imposts, stamp
      taxes, duties, deductions, withholdings and similar governmental
      impositions payable, levied, collected, withheld or assessed as of the
      date of this Loan Agreement or at any time in the future, and “Tax”
      shall have a corresponding meaning.

	 	 	 
	 	(x) 	
      “Loan Agreement”, “Agreement”,
      “hereof”, “herein”, “hereto”, “hereunder” or
      similar expressions mean this Loan Agreement and any Schedules hereto, as
      amended, supplemented, restated and replaced from time to time.

	 	 	 
	 	(y) 	
      “$”, “US Dollars” and “USD$” mean
      lawful money of the United States.



1.2 Headings and Table of Contents

     The headings of the Articles,
Sections, subsections and paragraphs hereof and the Table of Contents are
inserted for convenience of reference only and shall not affect the construction
or interpretation of this Loan Agreement.

1.3 Accounting Terms

     Each accounting term used in this
Loan Agreement, unless otherwise defined or interpreted herein, has the meaning
assigned to it under GAAP.

1.4 Number, Gender, Contractual Instruments

     Unless the context otherwise
requires, words importing the singular number shall include the plural and vice
versa and words importing any gender include all genders. References to Loan
Agreement shall be deemed to include all present or future amendments,
supplements, restatements or replacements thereof or thereto.

ARTICLE 2 
LOAN

2.1 Amount

     Upon and subject to the terms and
conditions of this Loan Agreement, the Lender hereby irrevocably agrees to
immediately establish the Loan for the use and benefit of the Borrower.

2.2 Purpose

     The Loan will be made available
to the Borrower for the purposes set out in Schedule “A” hereto and for no other
purpose without the prior written consent of the Lender.




2.3 Time and Place of Payments

     Unless otherwise expressly
provided herein, the Borrower shall make all payments pursuant to this Agreement
or pursuant to any document, instrument or agreement delivered pursuant hereto
by delivery of a cheque or wire transfer to the Lender before 1:00 p.m.
(Saskatoon time) on the day specified for payment. Any such payment received on
the day specified for such payment but after 1:00 p.m. (Saskatoon time) thereon
shall be deemed to have been received prior to 1:00 p.m. (Saskatoon time) on the
Business Day immediately following such day specified for payment.

2.4 Debt Settlement Agreement

     In consideration of the Lender
entering into this Loan Agreement, the Borrower has agreed to enter into the
Debt Settlement Agreement.

ARTICLE 3
PAYMENTS, PREPAYMENTS AND
INTEREST

3.1 Evidence of Indebtedness

     The Obligations resulting from
the Loan, including all payments of interest and payments of principal by the
Borrower, shall be evidenced by records maintained by the Lender. The records
maintained by the Lender shall constitute, in the absence of manifest error,
prima facie evidence of the Obligations and all details relating thereto. The
failure of the Lender to correctly record any such amount or date shall not,
however, adversely affect the obligation of the Borrower to pay the Obligations
in accordance with this Loan Agreement.

3.2 Term and Repayment

     The outstanding principal amount
of the Loan together with all accrued and unpaid interest and all other amounts
outstanding hereunder shall become due and payable in full on the Maturity Date
unless sooner determined by the Lender due to the occurrence of an Event of
Default.

3.3 Voluntary Prepayments

     Subject to giving the Lender not
less than 10 Business Days’ prior written notice, the Borrower may from time to
time prepay the Loans in whole or in part without penalty.

3.4 Interest

     The outstanding daily principal
balance of the Loan will bear interest at the applicable Interest Rate until
paid in full.

ARTICLE 4 
REPRESENTATIONS AND WARRANTIES

4.1 Representations and Warranties of the Borrower

     The Borrower represents and
warrants to the Lender as specified below.

	 	(a) 	Corporate and Securities Matters
  







	 	(i) 	
      Due Incorporation, Etc. The Borrower is
      incorporated under the laws of the state of Nevada and is a corporation
      duly incorporated and organized and validly subsisting under the laws of
      the jurisdiction of its incorporation and is duly qualified, registered or
      licensed in all jurisdictions where such qualification, registration or
      licensing is required to the extent that it is material. The Borrower has
      all requisite corporate capacity, power and authority to own, hold under
      licence or lease its properties, to carry on its business as now conducted
      and as proposed to be conducted and to otherwise enter into, and carry out
      the transactions contemplated by this Loan Agreement.

	 	 	 
	 	(ii) 	
      Due Authorization. The entering into and the
      performance by the Borrower of this Loan Agreement (i) has been duly
      authorized by all necessary corporate action on its part, (ii) do not and
      will not violate its constating documents, any Applicable Law, any Permit
      or any Contract to which it is a party, and (iii) will not result in the
      creation of any Encumbrance on any of its Property, will not require it to
      create any Encumbrance on any of its Property and will not result in the
      forfeiture of any of its Property.

	 	 	 
	 	(iii) 	
      No Restrictions in Constating Documents. The
      execution, delivery and performance of this agreement and the consummation
      of the transactions contemplated herein and therein do not and will not
      conflict with, result in any breach or violation of, or constitute a
      default under, the terms, conditions or provisions of the constating
      documents or by-laws of, or any unanimous shareholder agreement or
      declaration relating to, the Borrower or of any law, regulation, judgment,
      decree or order binding on or applicable to the Borrower or by which the
      Borrower benefits or to which any of its property is subject or of any
      material agreement, lease, licence, permit or other instrument to which
      the Borrower is a party or is otherwise bound or by which the Borrower
      benefits or to which any of its property is subject and do not require the
      consent or approval of any other party or any governmental body, agency or
      authority.

	 	 	 
	 	(iv) 	
      Due Execution, Etc. The Loan Agreement have been
      or will be duly executed and delivered by it and constitute legal, valid
      and binding obligations enforceable against it in accordance with its
      respective terms, subject to the availability of equitable remedies and
      the effect of bankruptcy, insolvency and similar laws affecting the rights
      of creditors generally.




	 	(b) 	
      Ownership of Assets and Properties

	 	 	 
	 		
      The Borrower does not warrant title to its assets but
      represents and warrants that except for Permitted Encumbrances, the
      material assets of the Borrower are free and clear of any liens,
      royalties, production payments, charges, adverse claims, demands or
      encumbrances created by, through or under the
Borrower.



4.2 Representations and Warranties of the Lender

     The Lender represents and
warrants to the Borrower as specified below.

	 	(a) 	
      Corporate and Securities Matters

	 	 	 	 
	 		(i) 	
      Due Incorporation, Etc. The Lender is incorporated
      under the laws of the state of Nevada and is a limited liability
      corporation duly incorporated and organized








	 		
      and validly subsisting under the laws of the jurisdiction
      of its incorporation and is duly qualified, registered or licensed in all
      jurisdictions where such qualification, registration or licensing is
      required to the extent that it is material. The Lender has all requisite
      corporate capacity, power and authority to own, hold under licence or
      lease its properties, to carry on its business as now conducted and as
      proposed to be conducted and to otherwise enter into, and carry out the
      transactions contemplated by this Loan Agreement.

	 	 	 
	 	(ii) 	
      Due Authorization. The entering into and the
      performance by the Lender of this Loan Agreement (i) has been duly
      authorized by all necessary corporate action on its part, and (ii) do not
      and will not violate its constating documents, any Applicable Law, any
      Permit or any contract to which it is a party.

	 	 	 
	 	(iii) 	
      No Restrictions in Constating Documents. The
      execution, delivery and performance of this agreement and the consummation
      of the transactions contemplated herein and therein do not and will not
      conflict with, result in any breach or violation of, or constitute a
      default under, the terms, conditions or provisions of the constating
      documents or by-laws of, or any unanimous shareholder agreement or
      declaration relating to, the Lender or of any law, regulation, judgment,
      decree or order binding on or applicable to the Lender or by which the
      Lender benefits or to which any of its property is subject or of any
      material agreement, lease, licence, permit or other instrument to which
      the Lender is a party or is otherwise bound or by which the Lender
      benefits or to which any of its property is subject and do not require the
      consent or approval of any other party or any governmental body, agency or
      authority.

	 	 	 
	 	(iv) 	
      Due Execution, Etc. The Loan Agreement have been
      or will be duly executed and delivered by it and constitute legal, valid
      and binding obligations enforceable against it in accordance with its
      respective terms, subject to the availability of equitable remedies and
      the effect of bankruptcy, insolvency and similar laws affecting the rights
      of creditors generally.



4.3 Survival of Representations and Warranties

     Unless expressly stated to be
made as of a specific date, the representations and warranties made in this Loan
Agreement shall survive the execution of this Loan Agreement notwithstanding any
investigation made at any time by or on behalf of the Lender.

ARTICLE 5 
COVENANTS

5.1 Affirmative Covenants

     The Borrower hereby covenants and
agrees with the Lender that, until repayment in full by the Borrower to the
Lender of all Obligations and unless the Lender otherwise expressly consents in
writing, such consent not to be unreasonably withheld:

	 	(a) 	
      Prompt Payment

	 	 	 
	 		
      The Borrower shall duly and punctually pay or cause to be
      paid to the Lender all amounts payable under this Loan Agreement at the
      dates and places, in the currencies and in the manner mentioned
    herein.








	 	(b) 	
      Use of Proceeds

	 	 	 
	 		
      The Borrower shall apply all of the proceeds of the Loan
      for the purposes set out in Section 2.2 hereof.



5.2 Restrictive Covenants

     During the term of this Loan
Agreement, the Borrower shall not do any of the things specified in this Section
without the prior written consent of the Lender, which shall not be unreasonably
withheld.

	 	(a) 	
      Encumbrances

	 	 	 
	 		
      The Borrower shall not create, incur or assume or suffer
      to exist or cause or permit any Encumbrance upon or in respect of any of
      its material Property, except for Permitted Encumbrances.

	 	 	 
	 	(b) 	
      Limit on Senior Debt or Further Subordinate
      Debt

	 	 	 
	 		
      The Borrower shall not, without the prior written consent
      of the Lender, incur, assume or suffer to exist any indebtedness other
      than indebtedness to unsecured trade creditors which is incurred in the
      ordinary course of business.



ARTICLE 6 
CLOSING DELIVERIES

6.1 Closing Deliveries

     On or after the Closing Date, the
Borrower shall deliver to the Lender, in form and substance satisfactory to the
Lender upon request by the Lender, a resolution of the board of directors of the
Borrower authorizing the Borrower to execute, deliver and perform its
obligations under this Loan Agreement:

6.2 Waiver

     The terms and conditions of
Section 6.1 are inserted for the sole benefit of the Lender and the Lender may
waive them in whole or in part, with or without terms or conditions, in respect
of any extension of credit, without prejudicing the Lender’s right to assert
them in whole or in part in respect of any other extension of credit.

ARTICLE 7 
DEFAULT

7.1 Events of Default

     Each of the following events
shall constitute an Event of Default under this Loan Agreement:

	 	(a) 	
      the Borrower fails to pay any amount of principal when
      due; or

	 	 	 
	 	(b) 	
      the Borrower fails to pay any amount of interest when due
      or, to pay fees within five (5) Business Days of when due;
  or








	 	(c) 	
      the Borrower ceases or threatens to cease to carry on its
      business, except as expressly permitted in this Loan Agreement, or admits
      its inability or fails to pay its debts generally; or

	 	 	 
	 	(d) 	
      the Borrower becomes a bankrupt (voluntarily or
      involuntarily); or becomes subject to any proceeding seeking liquidation,
      arrangement, relief of creditors or the appointment of a receiver or
      trustee over, or any judgment or order which has or might have a Material
      Adverse Effect, and such proceeding, if instituted against the Borrower,
      or such judgment or order, is not contested diligently, in good faith and
      on a timely basis and dismissed or stayed within 30 days of its
      commencement or issuance; or

	 	 	 
	 	(e) 	
      if any representation or warranty made by the Borrower in
      this agreement or in any other document, agreement or instrument delivered
      pursuant hereto or referred to herein or any information furnished in
      writing to the Lender by the Borrower proves to have been incorrect in any
      material respect when made or furnished, and such Event of Default, to the
      extent curable, has not been cured within ten (10) Business Days after
      written notice to do so has been given by the Lender to the Borrower;
      or

	 	 	 
	 	(f) 	
      the breach or failure of due observance or performance by
      the Borrower of any covenant or provision of this Loan Agreement, other
      than those heretofore dealt with in this Section 7.1 or of any other
      document, agreement or instrument delivered pursuant hereto or referred to
      herein which is not remedied by the Borrower within ten (10) Business Days
      after written notice to do so has been given by the Lender to the
      Borrower, unless permitted to do so by the Lender.



7.2 Acceleration and Termination of Rights

     If any Event of Default occurs,
the Lender may give notice to the Borrower declaring the Obligations or any of
them to be forthwith due and payable, whereupon they shall become and be
forthwith due and payable without presentment, demand, protest or further notice
of any kind, all of which are hereby expressly waived by the Borrower.

7.3 Remedies

     Upon the occurrence of any event
by which any of the Obligations become due and payable under Section 7.2, the
Lender may take such action or proceedings on behalf of the Lender and in
compliance with Applicable Law as the Lender in its sole discretion deems
expedient to enforce the same, all without any additional notice, presentment,
demand, protest or other formality, all of which are hereby expressly waived by
the Borrower.

7.4 Remedies Cumulative

     The rights and remedies of the
Lender under the Loan Agreement are in addition to and not in substitution for
any rights or remedies provided by law. Any single or partial exercise by the
Lender of any right or remedy for a default or breach of any term, covenant,
condition of the Loan Agreement herein contained shall not be deemed to be a
waiver of or to alter, affect, or prejudice any other right or remedy or other
rights or remedies to which the Lender may be lawfully entitled for the same
default or breach. Any waiver by the Lender of the strict observance,
performance or compliance with any term, covenant, condition or Loan Agreement
herein contained, and any indulgence granted by the Lender shall be deemed not
to be a waiver of any subsequent default.




ARTICLE 8 
SECURITY

8.1 As security for payment, observance and performance of the
Borrower’s Obligations, the Borrower agrees to execute and deliver (and cause
each Other Obligant to execute and deliver), inter alia, the following
documents (collectively, the “Security Documents”) in a form and manner
satisfactory to the Lender and the Lender’s solicitors such security as the
Lender may reasonably require from time to time. Each Security Document is given
as additional, concurrent and collateral security to the remainder of the
Security Documents and will not operate to merge novate or discharge the
Borrower’s Indebtedness or any of the other Security Documents. The execution
and delivery of each Security Document will not in any way suspend or affect the
present or future rights and remedies of the Lender in respect of the Borrower’s
Indebtedness, or the other Security Documents. No action or judgment taken by
the Lender in respect of any of the Security Documents or with respect to the
Borrower’s Indebtedness will affect the liability of the Borrower hereunder and
nothing but the actual payment in full by the Borrower to the Lender of the
Borrower’s Indebtedness will discharge the Borrower or any of the Security
Documents.

ARTICLE 9
CONDITIONS PRECEDENT TO EACH ADVANCE
UNDER THE LOAN

9.1 The Lender’s obligation to make any Advance is subject to
the following conditions precedent having been met to the Lender’s sole
satisfaction or waived by the Lender in writing at the time of that Advance,
namely:

	 	(a) 	
      the Lender having received a properly executed original
      of this Loan Agreement and any Security Documents then in
effect;

	 	 	 
	 	(b) 	
      the Borrower’s representations and warranties contained
      herein and in the Security Documents then in effect then being true and
      correct in all material respects;

	 	 	 
	 	(c) 	
      the Borrower having entered into the Debt Settlement
      Agreement with the Lender in substantially the form attached hereto as
      Schedule “B”;

	 	 	 
	 	(d) 	
      there then being no outstanding Default or Event of
      Default and no outstanding condition, event or act which with or without
      the giving of notice could become an Event of Default; and

	 	 	 
	 	(e) 	
      there then being no outstanding condition, event or act
      which has had or would reasonably be expected to have a Material Adverse
      Effect.



ARTICLE 10 
MISCELLANEOUS PROVISIONS

10.1 Amendment, Supplement or Waiver

     Any amendment or supplement to
this Loan Agreement shall require the written consent of the other parties. No
waiver or act or omission of the Borrower or the Lender, or any of them, shall
extend to or be taken in any manner whatsoever to affect any subsequent Event of
Default or breach by a party of any provision of this Loan Agreement or the
rights resulting thereof.




10.2 Governing Law

     The Loan Agreement shall be
conclusively deemed to be a contract made under, and shall for all purposes be
governed by and construed in accordance with, the laws of the Province of
Saskatchewan. Each party to this Loan Agreement hereby irrevocably and
unconditionally attorns and submits to the non-exclusive jurisdiction of the
courts of Saskatchewan and all courts competent to hear appeals therefrom.

10.3 Address for Notice

     Unless otherwise provided in this
Loan Agreement, all notices, consents, acknowledgements, directions,
resolutions, waivers and other communications required or permitted to be given
under this Loan Agreement shall be in writing and shall be sent by overnight
courier service, facsimile or other means of electronic mail transfer, or
personal delivery, addressed to the party for whom it is intended as
follows:

	 	(a) 	if to the Borrower:
  
	 	  	 	  
	 	  	 	
      Maverick Minerals Corporation 

	 		 	
       2501 Lansdowne Ave  

	 	  	 	
      Saskatoon, Saskatchewan 

	 	  	 	
      S7J 1H3 

	 	  	 	
       

	 		 	
       Attention: R. Kinloch  

	 	  	 	
      Facsimile No.: (306) 343-0888 

	 	  	 	
       

	 	  	with a copy to: 
	 	  	 	
       

	 	  	 	
      Clark Wilson LLP 

	 	  	 	
      800 – 855 West Georgia Street 

	 	  	 	
      Vancouver, British Columbia 

	 	  	 	
      V6C 3H1 

	 	  	 	
       

	 	  	 	
      Attention: Conrad Y. Nest 

	 	  	 	
      Facsimile No.: (604) 687 6314 

	 	  	 	
       

	 	(b) 	if to the Lender:

	 	  	 	
       

	 	  	 	
      SENERGY PARTNERS LLC. 

	 	  	 	
      2245 N. Green Valley Pkwy, Ste. 429 

	 		 	
       Henderson, Nevada  

	 	  	 	
      89014 

	 	  	 	
       

	 		 	
       Attention: Donna Rose  

	 	  	 	
      Facsimile No.: (208) 330-7137 

	 	  	 	
       

	 	  	with a copy to:
  






DAVID P. STEINER
David
Steiner & Associates PLC 
1925 Century Park E Ste 2350 
Los Angeles,
CA 90067-2737

Attention: David Steiner 
Facsimile
No.: (310) 556-0336

or such other address most recently specified by such party by
notice given in accordance with this Section 10.3 to the party hereto giving the
notice or written communication. Any notice, demand or communication pursuant to
or relating to this Loan Agreement shall be conclusively deemed to be given and
received, if delivered, on the day on which it is delivered to the address of
the party to be notified or, if given by facsimile or other similar form of
telecommunication, on the next Business Day following such transmission.

10.4 Time of the Essence

     Time shall be of the essence of
this Loan Agreement.

10.5 Further Assurances

     The parties hereto shall do all
such further acts and execute and deliver all such further documents as may be
necessary or desirable in order to fully perform and carry out the purpose and
intent of the Loan Agreement.

10.6 Counterparts and Facsimile

     This Loan Agreement may be
executed in any number of counterparts, each of which when executed and
delivered shall be deemed to be an original, and such counterparts together
shall constitute one and the same Loan Agreement. For the purposes of this
Section, the delivery of a facsimile copy of an executed counterpart of this
Loan Agreement shall be deemed to be valid execution and delivery of this Loan
Agreement.

10.7 Entire Loan Agreement

     This Loan Agreement constitutes
the entire Loan Agreement between the parties hereto concerning the matters
addressed in this Loan Agreement, and cancel and supersede any prior agreements,
undertakings, declarations or representations, written or verbal, in respect
thereof.

10.8 Independent Legal Advice

     The parties hereto each
represent, warrant and agree that each has received independent legal advice
from their respective attorneys with respect to the terms of the Loan Agreement
and with respect to the advisability of entering into this Loan Agreement. 




10.9 Successors

     This Loan Agreement and any other
document referred to herein or therein shall be binding upon and inure to the
benefit of and be enforceable by Lender, Borrower and their respective
successors and assigns, except that Borrower may not assign its rights under
this Loan Agreement and any other document referred to herein or therein without
the prior written consent of Lender. Lender may, after notice to Borrower,
assign its rights and delegate its obligations under this Loan Agreement and
further may assign, or sell participations in, all or any part of the Loan or
any other interest herein to another person, in which event, the assignee or
participant shall have, to the extent of such assignment or participation, the
same rights and benefits as it would have if it were the Lender hereunder,
except as otherwise provided by the terms of such assignment or
participation.

     WITNESS OF WHICH, the
parties have executed this Loan Agreement as at the day first written above.

MAVERICK MINERALS
CORPORATION

 

	 	By:
      
	 	       Authorized Signatory
    


SENERGY PARTNERS LLC

 

	 	By: 
	 	       Authorized Signatory
    






SCHEDULE A

Plan of Operation

Maverick Minerals Corporation (the “Company”) plans to continue
to evaluate joint venture opportunities and oil and gas development and
production prospects in West Texas and North West Texas and Saskatchewan. The
Company expects to continue its evaluation of joint venture production and
development opportunities in North West Texas. 

Based on the Company’s plan of operation outlined above, the
Company intends to use proceeds of the Loan for the following expenses during
the term of the Loan:


	Loan Purposes 
	General, Administrative and Corporate
      Expenses 
	
      Consulting and Due Diligence, Texas and Saskatchewan
    

	Professional Fees 
	Joint Venture Programs 







SCHEDULE B

Debt Settlement and Subscription Agreement