Document:

FIRST AMENDED AND RESTATED PROGRAM AGREEMENT
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     THIS  FIRST  AMENDED  AND  RESTATED  PROGRAM  AGREEMENT  (Agreement), dated
February  6,  2006,  is between HARDING COMPANY (Harding) and PETROSEARCH ENERGY
CORPORATION  (Petrosearch).

     WHEREAS,  Harding  and  Petrosearch  previously  entered  into that certain
Program  Agreement  dated  as of January 24, 2006 (the "The Program Agreement"),
And

     WHEREAS,  Harding  and  Petrosearch desire to amend and restate the Program
Agreement  on  the  terms  and  conditions  set  forth  herein;  and

     WHEREAS,  Harding  entered into a Memorandum of Understanding Regarding Gas
Evacuation from ExxonMobil and Harding Barnett Shale E&P Venture with ExxonMobil
Gas  &  Power  Marketing  (Exxon  G&P)  on June 24, 2005 concerning the possible
evacuation  of  natural  gas through one or more pipelines owned by Exxon G&P in
Dallas,  Denton,  Ellis,  Johnson  and  Tarrant  Counties  (MOU);  and

     WHEREAS, Harding entered into a Lease Acquisition and Exploration Agreement
for Dallas, Denton, Ellis, Johnson, and Tarrant Counties, Texas with Exxon Mobil
Corporation  (Exxon)  dated  June  29,  2005  (E&P  Agreement) providing for the
acquisition  and development of oil and gas leases (Leases) in the area shown on
Exhibit  A (Contract Area) and the terms not otherwise defined in this Agreement
shall  have  the  same  meaning  as  set forth in the MOU and E&P Agreement; and

     WHEREAS,  Petrosearch  has  agreed  to  participate  with  Harding  in  the
acquisition  and  development  of  an  undivided  interest  in the Leases in the
Contract  Area;  and

     WHEREAS,  Petrosearch has agreed to fund $28,000,000 in accordance with the
terms  of  this Agreement to acquire working interests in Leases in the Contract
Area  and  to  pay  its proportionate share, at its discretion and in accordance
with  the  terms  of this Agreement, to acquire an undivided working interest in
Leases  in  the Contract Area and drill the lesser of a minimum of 15 wells or a
sufficient  number  of  wells  to  insure  that the production volume from wells
averages  no  less  than 10 Million cubic feet of gas per day within ninety (90)
days  from  the acceptance of the pipeline pursuant to agreements with Exxon and
30  million  cubic  feet of gas per day within one hundred and eighty (180) days
from  the  acceptance  of  the  pipeline  pursuant to agreements with Exxon; and

     WHEREAS,  Harding has agreed to offer terms to Petrosearch pursuant to this
Agreement which will be no less favorable than those offered others investing in
this  project  other  than PostScriptum and its affiliates for the period of one
hundred  eighty  days  from  the  execution  of  this  Agreement;  and

     NOW,  THEREFORE, in consideration of the above premises, the parties hereby
agree  as  follows:

     1.     COMMITMENT  BY  PETROSEARCH/PROPORTIONATE  REDUCTION.   Harding  and
            ----------------------------------------------------
Petrosearch  agree  that Petrosearch shall have the right to invest TWENTY EIGHT

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MILLION  AND  NO/100  DOLLARS  ($28,000,000.00)  under  this  Program  Agreement
(Petrosearch  Commitment).  Said  Petrosearch  Commitment shall be funded by the
"Initial  Payment"  described  in 2. below and the balance will be paid upon the
presentation  of  invoices  by  Harding  in  accordance  to  the  terms  of this
Agreement.  Should Petrosearch pay less than the total Petrosearch Commitment of
$28,000,000.00  due  to  the  inability  of  Petrosearch  to  consummate  its
investor/lender  financing  for  the  project  to  the  full  extent  of  the
$28,000,000.00 sum, then the percentage leasehold ownership, revenue sharing and
cost-bearing interests described in this Agreement shall each be proportionately
reduced.  Proportionate  reduction shall NOT apply to a failure to fund the full
$28,000,000.00 as a result of one of the following events: a) termination of the
E&P  Agreement  by Exxon prior to expenditure of such sum; b) failure of Harding
to  expend  the  full  sum  (i.e^  aggregate  invoices  presented  by Harding to
Petrosearch do not equal such sum); or c) early termination of this Agreement by
Petrosearch  due  to  the  occurrence  of  one  of  the events set forth in this
Agreement  entitling  Petrosearch to terminate. All references in this Agreement
to  the  "Petrosearch  Commitment"  shall  refer to the actual funds invested by
Petrosearch  of  up  to  $28,000,000.00.  Should,  except  as  provided  above,
Petrosearch  not  invest  the  total  amount  of  the  Petrosearch Commitment of
$28,000,000.00 the parties shall promptly reconcile the financial accounting and
the  percentage  ownership  in the Leases and wells to reflect, proportionately,
the  amount  actually  invested.  In  the  event  Petrosearch  funds  less  than
$5,000,000.00,  such investment will entitle Petrosearch to one percent (1%) per
$2,400,000  invested and all interests will be adjusted accordingly. By example,
should  Petrosearch fund only $4,000,000.00 of the total Petrosearch Commitment,
the  Petrosearch ownership referred to elsewhere herein would change as follows:
34.432%  would  reduce  to  4.919%, 24.938% would reduce to 3.563% and 14% would
reduce  to  1.667%.

     2.     CLOSING.  Upon  signing  this  Agreement,  Harding  shall  provide
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Petrosearch  with  a Certificate from an officer of Harding certifying that none
of  the  agreements  with  Exxon G&P and Exxon relating to the Project Area that
have  previously  been  provided  Petrosearch  have  been  amended. On or before
February  6,  2006  (Closing),  Petrosearch shall wire to Harding, as an initial
commitment,  TWO  MILLION  EIGHT  HUNDRED  THOUSAND  AND  NO/100  DOLLARS
($2,800,000.00)  (Initial  Payment). Harding may apply the Initial Payment funds
as  set forth in 10. below. If, for any reason, Petrosearch fails to deliver the
Initial  Payment  at  Closing,  then Harding may terminate this Agreement as its
sole  remedy  and neither party shall have any further duty or obligation to the
other.

     3.     PROGRAM  BUDGETING  AND  ADMINISTRATION.  Harding  shall  serve  as
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operator  of  the  Leases and shall budget the funds invested by Petrosearch and
allocate  the  funds  for  both  leasing activities and drilling operations in a
manner  which  shall  achieve  sufficient  drilled  wells  to  meet  all  of the
volumetric  requirements  set  forth in the E&P Agreement. Harding shall provide
Petrosearch with a copy of all such budgets initially and as may be amended from
time  to  time,  and  shall grant Petrosearch reasonable access to all financial
records  pertaining  to  the Leases and activities in the Contract Area. Harding
represents  and  warrants  to  Petrosearch  that  it shall notify Petrosearch in
writing  prior  to  entering  into  any agreement or amendment with Exxon G&P or
Exxon  after  the  date of execution of this Agreement and that Harding will not
intentionally  enter  into  any

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agreement  or  amendment  which  adversely affects Petrosearch as it pertains to
this  Agreement.

     4.     LEASE  ACQUISITION  ACTIVITIES.
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            a.     Proportionate  Reduction.  All  leasehold  interests acquired
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     pursuant  to this Agreement shall be proportionately reduced to reflect the
     mineral  interest  covered  by  the  particular  Lease  acquired.

            b.     Cost  Bearing  and Ownership Percentages. As Harding acquires
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     Leases  pursuant  to  the  terms of the E&P Agreement, Petrosearch shall be
     entitled  to  participate in such Lease acquisitions. Until the expenditure
     of  the  Petrosearch Commitment, Petrosearch shall pay thirty four and four
     hundred and thirty-two one thousandths percent (34.432%) of the acquisition
     costs  of  the Leases and shall be entitled to an undivided twenty four and
     nine  hundred  and  thirty-eight  one thousandths percent (24.938%) working
     interest  in  each Lease subject only to the burdens on said Leases created
     pursuant to the terms of this Agreement. The Leases shall not be subject to
     any  burdens other than the landowner's royalties and those provided in the
     E&P  Agreement.  After  the  expenditure  of  the  Petrosearch  Commitment,
     Petrosearch's  share  of  Lease acquisition costs shall be fourteen percent
     (14%).  Upon achieving "Payout" (as hereinafter defined), Petrosearch shall
     own  a  fourteen  percent  (14%) working interest in all Leases and Harding
     shall own a ten and nine hundred and thirty-eight one thousandths (10.938%)
     working  interest  in  all  Leases  as  provided pursuant to the terms this
     Agreement.

            c.     Disposition  of  Leases  prior  to  Payout. In the event of a
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     disposition  of  any  Lease  prior  to  Payout, the parties shall share the
     proceeds  of  such disposition in the proportion which the purchase of such
     Lease  was  funded.

            d.     Leasing Procedures. The parties to this Agreement will follow
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     the  same  procedures  set  forth  in Section 4.3 of the E&P Agreement with
     regard  to  the  acquisition  of said Leases. It is provided, however, that
     Petrosearch  shall  have  only  ten  (10)  working  days from Petrosearch's
     receipt  of  the  lease  acquisition proposal to pay its share of the Lease
     Acquisition  Costs  for  each  Lease acquired pursuant to the terms of this
     Agreement  rather  than the time limit provided in the E&P Agreement. It is
     further  provided  that  until  the  Petrosearch  Commitment  is  expended,
     Petrosearch shall not have the option of electing not to participate in the
     acquisition of a Lease in the Contract Area prior to the expenditure of the
     Petrosearch  Commitment  unless  i)  Exxon elects not to participate in the
     acquisition  of  its  proportionate  share  of  the  Lease  in  which  case
     Petrosearch  shall have the longer of three (3) days from the time of being
     notified  of  Exxon's  election or the balance of the ten (10) day election
     period  in order to decide whether or not to participate in the acquisition
     of  the  Lease or ii) either Exxon or Harding have elected to terminate the
     E&P Agreement. In any event, should Petrosearch elect not to participate in
     the  acquisition of said Lease, the Lease shall thereafter be excluded from
     the  terms  of  this  Agreement.  After  the  expenditure  of

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     the  Petrosearch Commitment, should Harding elect to acquire a Lease in the
     Contract  Area  and Petrosearch elect not to participate in the acquisition
     of  that  Lease,  such Lease shall thereafter be excluded from the terms of
     this  Agreement.  Leases  acquired  by  Petrosearch  shall  be owned in the
     proportions  set  forth  in  4(b)  above.

            e.     If  Exxon  elects  to  cancel  the  E&P  Agreement  before
     Petrosearch has expended its Petrosearch Commitment under the terms of this
     Agreement as provided below, Harding may elect to continue acquiring Leases
     pursuant  to  the  terms  of this Agreement, whereupon, Petrosearch, in its
     sole discretion, may elect to continue to fund said acquisition, or Harding
     may  elect  to  cease  acquiring  Leases in the Contract Area. In the event
     Harding  elects  to continue to acquire Leases and Petrosearch continues to
     fund  said acquisition, said Leases shall be acquired and owned in the same
     proportions  set  forth  in  4(b)  above.

     5.     OPERATING  AGREEMENT.
            --------------------

            a.     Use  of  Model  Form.  This Agreement will be governed by and
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     will  include a standard form operating agreement pursuant to which Harding
     will  be  the Operator of the Leases subject to the terms of this Agreement
     and will carry out operations. The form of operating agreement shall be the
     same  form of operating agreement which is attached as Exhibit C to the E&P
     Agreement  (Operating  Agreement).  The  parties  will hold their interests
     pursuant  to the terms of the Exxon G&P Agreement and the E&P Agreement and
     this  Agreement  and the operations will be conducted pursuant to the terms
     of  said  Operating  Agreement.

            b.     Overhead  Rates. Overhead rates under the Operating Agreement
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     between  Harding and Petrosearch will be as set out in the COPAS Accounting
     Procedure  attached  as  Exhibit  C  to  the  Operating  Agreement.

            c.     Non-consent  Stipulations.  Except  as set forth in 1. above,
                   -------------------------
     until  Petrosearch  has  expended a sum equal to the Petrosearch Commitment
     pursuant  to  the  terms  of this Agreement, Petrosearch shall not have the
     right  to  non-consent  to  any  operation  or  Lease acquisition conducted
     pursuant  to the terms of the Operating Agreement. To the extent operations
     are  conducted  after  the  expenditure  of the Petrosearch Commitment, and
     Petrosearch  has  the option of non-consenting to such operations, then the
     non-consent  operations  will  be governed by the non-consent provisions of
     the  Operating  Agreement. It is provided, however, that should Petrosearch
     elect to not participate in the drilling of a well proposed pursuant to the
     terms  of the Operating Agreement, (a Non- consent Well), Petrosearch shall
     be  deemed  non-consent  for  that  well, its proration unit and all future
     leases  and  wells  within  one  proration  unit  of  such  proration  unit
     (Non-Consent Area) and shall relinquish all its title to such Leases within
     the  Non-Consent  Area  to Harding (and Harding shall reimburse Petrosearch
     for  its  actual  costs  incurred in acquiring said Leases) and Petrosearch
     shall  thereafter  neither  pay  for nor own an interest in such Leases and
     wells  in  the

<PAGE>
     Non-Consent Area and such Leases and wells shall be excluded from the terms
     of  this  Agreement. Nothing in this section, however, shall be interpreted
     so  as  to  cause  Petrosearch to lose its interest in Leases to the extent
     they  are within a proration unit which contains a well which is within the
     Non-Consent  Area which Petrosearch has already earned through drilling. In
     the  event  that  Harding elects non-consent status as to the drilling of a
     well  under  the  Operating  Agreement,  Harding  shall  be  deemed  to  be
     non-consent  for  that  well,  its proration unit and all future leases and
     wells  within  one proration unit of such proration unit (Non-Consent Area)
     and  shall  relinquish  all its title to such Leases to the extent they are
     within the Non-Consent Area to Petrosearch (and Petrosearch shall reimburse
     Harding  for  its  actual  costs  incurred  in  acquiring  said Leases) and
     thereafter Harding shall neither pay for nor own an interest in such Leases
     and  wells  in  the  Non-Consent  Area,  and such Leases and wells shall be
     excluded  from  the  terms  of  this  Agreement.  Nothing  in this section,
     however,  shall  be interpreted so as to cause Harding to lose its interest
     in  Leases  to the extent they are within a proration unit which contains a
     well  which is within the Non-Consent Area which Harding has already earned
     through  drilling.

     6.     DRILLING COSTS ALLOCATION. Petrosearch will pay 34.432% of the costs
            -------------------------
incurred  in  exploration,  including,  without  limitation,  geological  and
geophysical  costs  and  the  drilling,  and if completed, the completion (or if
plugged and abandoned, plugging and abandoning) of each well as well as the cost
of  preparing  said gas and laying gathering lines and connecting said well to a
transmission  line  from  the Leases until such time as Petrosearch has expended
amounts  in  the  aggregate  equal  to  its  Petrosearch  Commitment.  After the
expenditure  of  the  Petrosearch  Commitment,  each party shall pay such costs,
which  will  be billed in the proportions, Harding 20.432% and Petrosearch 14.0%
subject  to the non-consent provisions of the Operating Agreement and subject to
proportionate  reduction  described  in  1.  above.

     7.     OPERATING  COSTS  ALLOCATION.  Petrosearch  will  pay  24.938%  of
            ----------------------------
operating  costs  until  "Payout" as herein defined. After "Payout", the parties
shall  pay  operating  costs in the proportions: Harding 10.938% and Petrosearch
14.0%  subject to the non-consent provisions of the Operating Agreement and this
Agreement.

     8.     DEFINITION OF PAYOUT. For purposes of this Agreement, "Payout" shall
            --------------------
mean  the  first  day  of  the  calendar  month  following  the day during which
"Distributions"  actually  paid to Petrosearch equal the Petrosearch Commitment.
For  purposes  of this provision, Distributions are defined as proceeds from the
sale  of  assets  and  revenues  paid  to  the working interest which are net of
operating  costs,  production  and  ad  valorem  taxes, royalties and overriding
royalties.

     9.     LEASEHOLD  REVENUE  INTEREST  ALLOCATIONS. Until Payout, Petrosearch
            -----------------------------------------
shall  receive  24.938%  of the net revenues from production attributable to all
wells  drilled  pursuant  to  the  terms  of  this  Agreement. After Payout, net
revenues  from  the  24.938% working interest shall be shared in the proportions
Harding  10.938%  and  Petrosearch  14.0%, subject to proportionate reduction as
outlined  in  1.  above.

<PAGE>
     10.     INITIAL  PAYMENT  AND  APPLICATION  OF SAME. The $2,800,000 Initial
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Payment  shall  be  used to pay costs in the manner detailed on Exhibit C to the
Operating  Agreement.  The  payments  will  be  for  land costs and the costs of
conducting and interpreting seismic and geological surveys incurred in acquiring
leases  and  costs  related  to the drilling, completing and operation of one or
more  wells  within  the  Contract  Area as referenced in Section 5.1 of the E&P
Agreement  (and  as  described  on  Exhibit  C  of  the  E&P  Agreement).

     11.     PIPELINE  ACCESS RIGHTS. Harding shall make available and guarantee
             -----------------------
to  Petrosearch that it shall enjoy the same right of access to the gas pipeline
provided  for  under  the  terms  of  the  MOU or any definitive agreement which
supersedes the MOU. In the absense of such right, Petrosearch may terminate this
Agreement  and  exercise  the  repurchase  "put"  option set forth in 13. below.

     12.     ASSIGNMENT  OF PROGRAM AGREEMENT RIGHTS. Except as set forth herein
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below,  this Agreement may be not be assigned in whole or in part by Petrosearch
without  the  prior  written  consent  of  Harding,  which  consent  will not be
unreasonably  withheld.  To  the  extent  of  any  assignment  by Petrosearch is
approved,  the  term  "Petrosearch" shall refer to Petrosearch and any assignee.
This  Agreement may not be assigned by Harding without the prior written consent
of  Petrosearch,  which consent will not be unreasonably withheld. To the extent
that  any  assignment  by Harding is approved, the term "Harding" shall refer to
Harding  and  any  assignee.  No assignment will be effective until the assignee
agrees  in writing to the terms of this Agreement and assumes responsibility for
the interest so assigned. Petrosearch is hereby authorized to make the following
assignments  without  the  consent  of  Harding:  (i)  assignments to persons or
entities  in  which Petrosearch holds an ownership interest; (ii) assignments in
connection  with  a  merger, consolidation or combination involving the stock or
assets  of  Petrosearch: (iii) assignments to Petrosearch's investors or lenders
to  secure  financing,  but  in  all  such cases, prior to such assignment, such
assignee  agrees  in  writing  to  the  terms  of this Agreement and assumes the
responsibility  for  such  interest  or  (iv)  and Petrosearch remains liable to
fulfill  all  obligations  under  the  terms  of  this  Agreement.

     13.     ADDITIONAL  TERMINATION  RIGHTS  OF  PETROSEARCH/REPURCHASE OPTION.
             ------------------------------------------------------------------
Petrosearch  is entering into this Agreement because of the expertise of Harding
as  an  operator. If a change in control of Harding should occur, either by sale
or  operation  of  law,  or if Harding ceases to be Operator under the Operating
Agreement,  Petrosearch  shall  have the right, at its sole option, to terminate
this  Agreement with respect to any future Leases to be acquired in the Contract
Area,  and  Petrosearch  may  cause Harding to purchase its interest in both the
Leases  and  wells. For Leases, the purchase price shall be reimbursement of all
actual  original costs of acquisition paid by Petrosearch. With respect to wells
(in  which event it shall be all wells) the purchase price shall be the original
actual costs incurred by Petrosearch less revenues distributed to Petrosearch to
that point in time. In order to be effective, a notice by Petrosearch to Harding
to  effect  such a repurchase must be in writing and delivered to Harding within
sixty  (60)  days of such event and such notice shall include a statement of the
purchase price for the interests and shall designate a time, date, and place for
the  closing  of  the  assignment  and purchase of the interests that will be at
least  one  hundred  eighty  (180)  days  from  the  date  of  the

<PAGE>
notice.  At such closing, Harding shall deliver by wire transfer to a designated
account,  the  purchase price (less any sums received by Petrosearch pursuant to
the  terms of this Agreement), and Petrosearch shall at the time of the exchange
of  such funds assign all its right, title and interest in and to said interests
to  Harding pursuant to an assignment containing a special warranty of title and
free  of all burdens except those in existence at the time Harding assigned such
title  to Petrosearch, and Harding shall assume future liability with respect to
the  interests.  The parties agree that any dispute regarding the price shall be
handled  in  accordance  with  15.(d)  below.

     14.     PREFERENTIAL  PURCHASE  RIGHTS  AND TAG  ALONG RIGHTS. In the event
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that Harding proposes to sell its interest in the Leases subject to the terms of
this  Agreement  to  a  third  party,  and ExxonMobil elects not to exercise its
rights  under the E&P Agreement, Petrosearch shall be notified in writing of the
terms of the proposed sale and shall be entitled to match the terms of the offer
and  to purchase the interests of Harding as set forth in Section VIII.f. of the
Operating  Agreement,  except  that the time period for exercise shall be thirty
(30)  days  rather than the prescribed period in the Operating Agreement. Should
Petrosearch  decline  such  preferential  purchase  right  and  Harding  fail to
consummate  the  third  party  sale  thereafter  under  the  offered terms, then
Petrosearch's preferential purchase rights under this Section shall continue and
shall be applicable to future proposed sales by Harding, if any. The exercise of
any  preferential  right  by Petrosearch shall be prorata with all other parties
entitled  to  participate  in such right. Should Petrosearch decline to exercise
its preferential purchase rights, then alternatively, Petrosearch shall have the
option  to  proportionately  participate  with  Harding  and  all  other parties
entitled  to  participate in the sale based upon the parties' relative ownership
percentages.

     15.     ADMINISTRATIVE  PROVISIONS. The following administrative provisions
             --------------------------
shall  apply  to  this  Agreement:

             a.     Relationship  of the Parties. This Agreement is not intended
                    ----------------------------
     to  create  and  will not be construed as creating any type of partnership,
     joint  venture,  association  or other relationship where either party will
     become  liable  for  the  acts  or  obligations  to  the  other  party.

             b.     Notices.  Except  as otherwise specifically provided herein,
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     all  notices  to  be  given  under  this  Agreement  shall  be delivered in
     accordance  with  the  notice provisions of the Operating Agreement but the
     addresses  of the parties to this Agreement shall be those provided herein.

             c.     Entire  Agreement. This Agreement including its Exhibits and
                    -----------------
     the  relative  portions  of the Operating Agreement represent the final and
     entire  agreement  by  and  between the parties with respect to the subject
     matter  herein  contained  and  supersedes  all prior discussions and prior
     agreements  relating  to  such  subject  matter.

             d.     Dispute  Resolution.
                    -------------------

<PAGE>
                    i.     Governing  Law.  THIS  AGREEMENT SHALL BE GOVERNED BY
          AND  INTERPRETED  IN  ACCORDANCE  WITH THE LAWS OF THE STATE OF TEXAS,
          WITHOUT  REGARD  TO  ANY  CONFLICT  OF  LAWS  RULES  THAT WOULD DIRECT
          APPLICATION  OF  THE  LAWS  OF ANOTHER JURISDICTION. The venue for any
          such  determination  shall  be  Dallas  County,  Texas.

                    ii.     Arbitration.  Any and all claims, demands, causes of
          action,  disputes, controversies and other matters in question arising
          out of or relating to this Agreement, including any question regarding
          its  breach,  existence, validity or termination, which the parties do
          not  resolve  amicably,  shall  be  resolved  by  one  arbitrator  in
          accordance  with  the  Arbitration  Rules  of the American Arbitration
          Association.  The  place  of  arbitration  shall be Dallas, Texas. The
          resulting arbitral award shall be final and binding, and judgment upon
          such  award may be entered in any court having jurisdiction. A dispute
          shall  be  deemed  to have arisen when either party notifies the other
          party  in  writing  to  that  effect. The arbitrator, shall be a party
          knowledgeable  of  the  relevant area of law, shall be total impartial
          and shall have no authority to award special, indirect, consequential,
          exemplary  or  punitive  damages.

             e.     Severability.  If any provision of this Agreement is for any
                    ------------
     reason  held to be in violation of any applicable law, governmental rule or
     regulation,  or  if  the  provision  is held to be unenforceable, then such
     provision  shall  be  deemed  null  and  void. All other provisions of this
     Agreement  shall  remain  in  full  force  and  effect.

             f.     Binding  Effect.  This  Agreement  shall be binding upon and
                    ---------------
     inure  to the benefit of the parties hereto and their respective successors
     and  permitted  assigns.

             g.     Modifications  and  Amendments.  This Agreement shall not be
                    ------------------------------
     modified  or amended except by a written document executed by an authorized
     representative  of  both  parties  hereto.

             h.     News  Releases  and Public Announcement. Neither party shall
                    ---------------------------------------
     issue  any  news  release  or  make any public announcement relating to the
     subject  matter of this Agreement without the prior written approval of the
     other party, which approval shall not be unreasonably or untimely withheld;
     provided,  however,  that  such prior approval shall not be required in the
     event  that  a  party  is  compelled  to issue a release or announcement by
     applicable  securities  laws  or requirements of any Stock Exchange, but in
     such  event the affected party shall use its reasonable efforts to give the
     other  party  at least forty-eight (48) hours advance notice of the content
     of  such  release.

<PAGE>
             i.     Conflicts.    If  a  provision in the body of this Agreement
                    ---------
     is  in conflict with a provision in an Exhibit hereto, the provision in the
     body  of  this  Agreement  shall  prevail.  Additionally,  if  there is any
     conflict  between  this Agreement and the Operating Agreement as it relates
     to  the  parties  hereto,  the  provisions of this Agreement shall prevail.

             j.     No  Consequential  Damages.  NOTWITHSTANDING ANYTHING TO THE
                    --------------------------
     CONTRARY  IN  THIS  AGREEMENT, IN NO EVENT SHALL ONE PARTY BE LIABLE TO THE
     OTHER  PARTY FOR ANY EXEMPLARY, PUNITIVE, SPECIAL, INDIRECT, CONSEQUENTIAL,
     REMOTE,  OR  SPECULATIVE DAMAGES, EVEN IF CAUSED BY THE SOLE, JOINT, AND/OR
     CONCURRENT  NEGLIGENCE,  STRICT  LIABILITY,  OR  OTHER  FAULT  OF  A PARTY.

             k.     No  Third-Party  Beneficiaries.  Nothing  in this Agreement,
                    ------------------------------
     expressed  or implied, shall give or be construed to give any person, other
     than  the  parties and their successors and permitted assigns, any legal or
     equitable  right,  remedy  or  claim under or in respect to this Agreement,
     except  as  specifically  provided  herein.

             1.     Interpretation.
                    --------------

                    i.     Headings.   The  topical  headings  used  in  this
          Agreement  are  for  convenience  only  and  shall not be construed as
          having  any  substantive significance or as indicating that all of the
          provisions  of this Agreement relating to any topic are to be found in
          any  particular  article.

                    ii.  Singular and Plural. Reference to the singular includes
          a  reference  to  the  plural  and  vice  versa.

                    iii. Gender. Reference to one gender includes a reference to
          the  other.

                    iv.  Paragraph  or  Exhibit.  Unless  otherwise  provided,
          reference  to any paragraph or an Exhibit means a paragraph or Exhibit
          of  this  Agreement.

                    v.  Include.  The  meaning  of  the  words  "include"  and
          "including"  shall  include  "not  limited  to."

             m.     Counterpart Execution. This Agreement may be executed in two
                    ---------------------
     counterparts  and  each  such  counterpart  shall  be  deemed  an  original
     agreement  for  all purposes; provided that neither party shall be bound to
     this  Agreement  unless and until both parties have executed a counterpart.
     If  this  document is transmitted by facsimile machine, it shall be treated
     for  all  purposes  as  an original document. The signature of any party on
     this document transmitted by way of a facsimile machine shall be considered
     for  all  purposes  as  an  original  signature  and  shall

<PAGE>
     have  the same binding legal effect as an original signature on an original
     document.

             n.     Waiver.  No  waiver by any party of any one or more defaults
                    ------
     by  another  party  in  the  performance of any provision of this Agreement
     shall operate or be construed as a waiver of any future default or defaults
     by  the same party whether of a like or of a different character. Except as
     expressly  provided  in  this  Agreement,  no party shall be deemed to have
     waived,  released  or modified any of its right under this Agreement unless
     such party has expressly stated, in writing, that it does waive, release or
     modify  such  right.

             o.     Joint Preparation. Each provision of this Agreement shall be
                    -----------------
     construed as though all parties participated equally in the drafting of the
     same.  Consequently,  the  parties  acknowledge  and agree that any rule of
     construction  that a document is to be construed against the drafting party
     shall  not  be  applicable  to  this  Agreement.

             p.     Favored  Nations. It is provided that should Harding, within
                    ----------------
     one  hundred eighty (180) days after the execution of this Agreement, enter
     into  a comparable agreement with a third party (other than PostScriptum or
     its  affiliates)  which  provides  more favorable terms to such third party
     than  provided  in  this  Agreement,  such terms shall be made available to
     Petrosearch  to  improve  the  terms  of  this  Agreement.

     IN WITNESS WHEREOF, each party, through its duly authorized representative,
has  executed  this  Agreement, to become binding on the parties effective as of
the  date  first  above  written.
                                             SIGNATURES APPEAR ON FOLLOWING PAGE

<PAGE>
HARDING  COMPANY

BY:  /S/  R.  W.  HARDING
    -------------------------------
NAME:  R.  W.  HARDING
      -----------------------------
TITLE:  PRESIDENT  AND  CEO
       ----------------------------

PETROSEARCH  ENERGY  CORPORATION

BY:  /S/  N.  BENINGER
     ------------------------------
NAME:  N.  BENINGER
       ----------------------------
TITLE:  COO
       ----------------------------EXTENSION AGREEMENT

          THIS  EXTENSION  AGREEMENT  (this  "Agreement"), dated as of March 30,
2006,  is  entered  into  by  and  between Exxon Mobil Corporation, a New Jersey
corporation  ("ExxonMobil"),  Harding  Company, a Texas corporation ("Harding"),
PetroSearch  Energy Corporation, a Nevada corporation ("PetroSearch"), Eagle Oil
&  Gas  Co.,  a  Texas  corporation ("Eagle"), and PS Gas Partners, LLC, a Texas
limited  liability company, in its individual capacity and as general partner on
behalf  of Gas Partners, L.P., a Texas limited partnership (collectively "PSG").

                                    RECITALS
                                    --------

     WHEREAS,  ExxonMobil  and  Harding  entered  into  a  Lease Acquisition and
Exploration  Agreement  dated  June  29,  2005  (the  "Exploration  Agreement"),
pursuant  to  which  ExxonMobil  and  Harding  have agreed to participate in the
acquisition,  and  possible  joint  exploration  and development, of oil and gas
leases  (the "Leases") in portions of Dallas, Denton, Ellis, Johnson and Tarrant
Counties,  Texas,  subject  to  the  terms  and  conditions  set  forth  in  the
Exploration  Agreement;

     WHEREAS,  all  Leases  acquired  by  Harding  pursuant  to  the Exploration
Agreement are subject to the form Operating Agreement attached as Exhibit "C" to
the  Exploration Agreement, which includes a preferential right to purchase (the
"Preferential  Purchase  Right") in Article VIII.F of said Operating Agreement;

     WHEREAS,  Harding has agreed to sell an undivided interest in the Leases to
PetroSearch  pursuant  to  that  certain  First  Amended  and  Restated  Program
Agreement  dated  February  6,  2006,  between  PetroSearch  and  Harding  (the
"PetroSearch  Agreement");

     WHEREAS,  Harding has agreed to sell an undivided interest in the Leases to
Eagle pursuant to that certain Lease Acquisition and Exploration Agreement dated
effective February 17, 2006, between Eagle and Harding (the "Eagle Agreement");

     WHEREAS,  Harding  has  entered  into  an agreement with PSG dated dated as
December  15,  2005  (the  "PSG  Agreement");

     WHEREAS,  the  deadline ("PetroSearch Deadline") for ExxonMobil to exercise
the  Preferential  Purchase  Right with respect to Harding's proposed sale of an
interest in the Leases pursuant to the PetroSearch Agreement is March 31, 2006;

     WHEREAS,  ExxonMobil,  Harding  and  PetroSearch  desire  to  extend  the
PetroSearch  Deadline  with respect to ExxonMobil's exercise of the Preferential
Purchase  Right with respect to the PetroSearch Agreement from March 31, 2006 to
May  2,  2006,  in  order to give the parties to this Agreement adequate time to
explore  possible  alternatives  to  the  current  structure  of  ExxonMobil's
arrangement  with  Harding  under  the  Exploration  Agreement;

     WHEREAS,  the  deadline  ("Eagle  Deadline") for ExxonMobil to exercise the
Preferential  Purchase  Right  with  respect  to  Harding's  proposed sale of an
interest  in  the  Leases  pursuant  the  Eagle  Agreement  is  April 21, 2006;

<PAGE>
     WHEREAS,  ExxonMobil, Harding and Eagle desire to extend the Eagle Deadline
with  respect  to  ExxonMobil's exercise of the Preferential Purchase Right with
respect  to  the Eagle Agreement from April 21, 2006 to May 2, 2006, in order to
give  the  parties  to  this  Agreement  adequate  time  to  explore  possible
alternatives  to  the current structure of ExxonMobil's arrangement with Harding
under  the  Exploration  Agreement;

     WHEREAS,  the  deadline  ("PSG  Deadline")  for  ExxonMobil to exercise the
Preferential  Purchase  Right,  if  such  right  exists, with respect to the PSG
Agreement  has  not  yet  been  determined;

     WHEREAS, ExxonMobil, Harding and PSG desire to extend the PSG Deadline with
respect to ExxonMobil's exercise of the Preferential Purchase Right with respect
to  the  PSG  Agreement,  if  such  right  exists,  to a date (the "Extended PSG
Deadline")  which  is the later of (i) May 2, 2006 or (ii) the deadline provided
in  Article  VIII.F of said Operating Agreement, in order to give the parties to
this  Agreement  adequate  time  to explore possible alternatives to the current
structure  of  ExxonMobil's  arrangement  with  Harding  under  the  Exploration
Agreement;

     WHEREAS,  the parties wish to explore possible alternative structures under
which  an  integrated  venture could be formed which would include both upstream
and  pipeline  assets  and  activities,  which  would  better align each party's
interest,  and  which  would  enhance  the ability of the venture to assure that
adequate  pipeline  capacity  would  be available to move natural gas to market,
however, the parties are not in any manner whatsoever bound by or limited to the
foregoing  possible  structures  or  goals  and any party may propose expanding,
modifying  or  abandoning all or any part of such possible structures or goals;

     NOW,  THEREFORE,  for  and  in  consideration of the premises and to induce
ExxonMobil  to  delay  its  decision  regarding the exercise of the Preferential
Purchase  Right,  the  parties  hereby  covenant  and  agree  as  follows:

                                      AGREEMENT
                                      ---------

     1.     Extension  of  Deadlines
            ------------------------

     1.1     The  PetroSearch Deadline with respect to ExxonMobil's exercise of
the  Preferential  Purchase  Right  with respect to the PetroSearch Agreement is
hereby extended from March 31, 2006 to May 2, 2006.  ExxonMobil may exercise the
Preferential  Purchase  Right  with  respect to the PetroSearch Agreement at any
time  after  April  10,  2006,  and  on  or  before  May  2,  2006.

     1.2     The  Eagle  Deadline  with respect to ExxonMobil's exercise of the
Preferential  Purchase  Right  with  respect  to  the  Eagle Agreement is hereby
extended  from  April  21,  2006  to  May  2, 2006.  ExxonMobil may exercise the
Preferential  Purchase  Right  with  respect  to the Eagle Agreement at any time
after  April  10,  2006,  and  on  or  before  May  2,  2006.

     1.3     The  PSG  Deadline  with  respect  to ExxonMobil's exercise of any
Preferential Purchase Right which may exist with respect to the PSG Agreement is
hereby  extended  to  the  Extended  PSG  Deadline.

<PAGE>
     2.      Warranty  and  Representation
             -----------------------------

     2.1     PetroSearch  hereby  represents  and  warrants  to  ExxonMobil and
Harding  that  (i) it has the absolute and unrestricted right, power, authority,
and  capacity  to  execute  and  deliver  this  Agreement  and  to  perform  its
obligations  under  this Agreement, (ii) its execution, delivery and performance
of  this  Agreement will not contravene, conflict with, or result in a violation
of  (A)  any provision of its organizational documents or any resolutions of its
board  of directors or shareholders, (B) any contract, agreement, loan document,
note,  security or instrument to which it or any of its affiliates is a party or
by  which  it  or  any  of its affiliates is bound, or (C) any legal requirement
binding  on  it  or  its affiliates, (iii) this Agreement constitutes the legal,
valid,  and  binding obligation of it, enforceable against it in accordance with
its  terms,  and  (iv)  it  owns all rights granted or inuring to the benefit of
PetroSearch  under  the  PetroSearch  Agreement.

     2.2     Harding hereby represents and warrants to ExxonMobil, PetroSearch,
Eagle  and  PSG  that  (i)  it  has  the absolute and unrestricted right, power,
authority, and capacity to execute and deliver this Agreement and to perform its
obligations  under  this Agreement, (ii) its execution, delivery and performance
of  this  Agreement will not contravene, conflict with, or result in a violation
of  (A)  any provision of its organizational documents or any resolutions of its
board  of directors or shareholders, (B) any contract, agreement, loan document,
note,  security or instrument to which it or any of its affiliates is a party or
by  which  it  or  any  of its affiliates is bound, or (C) any legal requirement
binding  on  it  or  its affiliates, (iii) this Agreement constitutes the legal,
valid,  and  binding obligation of it, enforceable against it in accordance with
its  terms,  and  (iv)  it  owns all rights granted or inuring to the benefit of
Harding  under  the  PetroSearch  Agreement,  the  Eagle  Agreement  and the PSG
Agreement.

     2.3     ExxonMobil  hereby  represents  and  warrants  to  PetroSearch and
Harding  that  (i) it has the absolute and unrestricted right, power, authority,
and  capacity  to  execute  and  deliver  this  Agreement  and  to  perform  its
obligations  under  this Agreement, (ii) its execution, delivery and performance
of  this  Agreement will not contravene, conflict with, or result in a violation
of  (A)  any provision of its organizational documents or any resolutions of its
board  of directors or shareholders, (B) any contract, agreement, loan document,
note,  security or instrument to which it or any of its affiliates is a party or
by  which  it  or  any  of its affiliates is bound, or (C) any legal requirement
binding on it or its affiliates, and (iii) this Agreement constitutes the legal,
valid,  and  binding obligation of it, enforceable against it in accordance with
its  terms.

     2.4     Eagle  hereby  represents  and  warrants to ExxonMobil and Harding
that  (i)  it  has  the  absolute  and unrestricted right, power, authority, and
capacity  to  execute  and deliver this Agreement and to perform its obligations
under  this  Agreement,  (ii)  its  execution,  delivery and performance of this
Agreement  will  not  contravene, conflict with, or result in a violation of (A)
any provision of its organizational documents or any resolutions of its board of
directors  or  shareholders,  (B)  any contract, agreement, loan document, note,
security  or  instrument  to  which it or any of its affiliates is a party or by
which it or any of its affiliates is bound, or (C) any legal requirement binding
on  it or its affiliates, (iii) this Agreement constitutes the legal, valid, and
binding  obligation  of it, enforceable against it in accordance with its terms,
and (iv) it owns all rights granted or inuring to the benefit of Eagle under the
Eagle  Agreement.

<PAGE>
     2.5     PSG  hereby represents and warrants to ExxonMobil and Harding that
(i)  it  has the absolute and unrestricted right, power, authority, and capacity
to  execute and deliver this Agreement and to perform its obligations under this
Agreement,  (ii)  its execution, delivery and performance of this Agreement will
not  contravene, conflict with, or result in a violation of (A) any provision of
its  organizational  documents  or  any resolutions of its board of directors or
shareholders,  (B)  any  contract,  agreement,  loan document, note, security or
instrument to which it or any of its affiliates is a party or by which it or any
of  its  affiliates  is bound, or (C) any legal requirement binding on it or its
affiliates,  (iii)  this  Agreement  constitutes  the  legal, valid, and binding
obligation  of it, enforceable against it in accordance with its terms, and (iv)
it  owns  all  rights  granted  or  inuring  to the benefit of PSG under the PSG
Agreement.

     3.      Further  Provisions
             -------------------

     3.1     THIS  AGREEMENT  IS  INTENDED  TO  ALLOW  TIME  FOR THE PARTIES TO
             -------------------------------------------------------------------
EXPLORE  POSSIBLE  ALTERNATIVES  TO  THE  CURRENT  STRUCTURE  OF  EXXONMOBIL'S
--------------------------------------------------------------------------------
ARRANGEMENT  WITH  HARDING  UNDER THE EXPLORATION AGREEMENT AS NOTED IN THE LAST
--------------------------------------------------------------------------------
RECITAL  SET  FORTH  ABOVE;  PROVIDED,  HOWEVER,  THIS  AGREEMENT  SHALL  NOT BE
--------------------------------------------------------------------------------
CONSTRUED  TO  CREATE,  AND SHALL NOT CREATE, ANY LEGALLY BINDING OBLIGATIONS OR
--------------------------------------------------------------------------------
COMMITMENTS  ON  THE PART OF ANY PARTY TO REACH OR ATTEMPT TO REACH AGREEMENT ON
--------------------------------------------------------------------------------
SUCH  ALTERNATIVES  (INCLUDING  ANY  STRUCTURES OR GOALS REFERENCED IN THE ABOVE
 -------------------------------------------------------------------------------
RECITALS),  IT BEING EXPRESSLY UNDERSTOOD AND AGREED THAT ANY PARTY MAY WITHDRAW
--------------------------------------------------------------------------------
FROM  AND  CEASE SUCH DISCUSSIONS AT ANY TIME AT ITS SOLE OPTION AND DISCRETION,
--------------------------------------------------------------------------------
AND  WITHOUT  ANY  LIABILITY  TO  THE  OTHER  PARTIES  AS  A  RESULT  THEREOF.
-----------------------------------------------------------------------------

     3.2     Except  for  the  extensions  of  the  deadlines  for ExxonMobil to
exercise  the Preferential Purchase Right as provided in Paragraph 1 and without
limiting,  releasing  or  impairing  the  parties'  respective obligations under
Paragraphs  2,  3.1., 3.3, 3.4, 3.5 and 3.6, this Agreement shall not constitute
or be construed as a waiver or release by any party to this Agreement any of its
rights  and  remedies,  if  any,  under the Exploration Agreement, the aforesaid
Operating  Agreement  or  any other agreement or at law or in equity, including,
without  limitation, its rights, if any, set forth in the PetroSearch Agreement,
the  Eagle  Agreement  and  the  and  PSG Agreement and its rights regarding the
granting  or  withholding  of  consent  or  approval  with  respect  thereto.

     3.3     ExxonMobil believes that the 30-day period during which ExxonMobil
was originally entitled to exercise the Preferential Purchase Right with respect
to Harding's proposed sale of an interest in the Leases pursuant the PetroSearch
Agreement  (the  "Original  30-Day Election Period") commenced on March 1, 2006,
making  March  31,  2006,  the last day of such Original 30-Day Election Period.
PetroSearch, however, believes that the Original 30-Day Election Period may have
commenced prior to March 1, 2006, resulting in the termination prior to the date
of  this  Agreement of the Preferential Purchase Right with respect to Harding's
proposed  sale  of an interest in the Leases pursuant the PetroSearch Agreement.
This  Agreement  shall not constitute or be construed as a waiver or release (a)
by PetroSearch of its right to claim or assert that the Original 30-Day Election
Period  commenced  prior  to  March  1, 2006, and that the Preferential Purchase
Right  with  respect  to  Harding's  proposed  sale of an interest in the Leases
pursuant  the  PetroSearch  Agreement  has  already  expired as a result of such
alledged  earlier  commencement  date or (b) by ExxonMobil of any of its rights,
claims,  defenses and remedies in connection with any such claim or assertion by
PetroSearch.  Notwithstanding  the

<PAGE>
foregoing,  PetroSearch  agrees  that  if  the  Original  30-Day Election Period
commenced  on  March  1,  2006,  then this Agreement shall operate to extend the
deadline for ExxonMobil to exercise the Preferential Purchase Right with respect
to Harding's proposed sale of an interest in the Leases pursuant the PetroSearch
Agreement  to  May  2,  2006.

     3.4     If ExxonMobil does not exercise the Preferential Purchase Right on
or  before the PetroSearch Deadline (as the same may be subsequently extended by
mutual  agreement  of ExxonMobil, Harding and PetroSearch), then ExxonMobil will
give  its  consent to the assignment of interests in the Leases, the Exploration
Agreement  and  said Operating Agreement from Harding to PetroSearch pursuant to
the  PetroSearch  Agreement,  but only if and to the extent that PetroSearch and
Harding comply with, and amend the PetroSearch Agreement to the extent necessary
to  comply with, the requirements of the Exploration Agreement and the aforesaid
Operating  Agreement.

     3.5     This  Agreement  and the transactions contemplated hereby shall be
construed  in  accordance with, and governed by, the laws of the State of Texas,
without  regard to conflict of laws principles.  All disputes, controversies, or
claims  (whether  contractual, tortious, equitable, statutory or otherwise) that
may  arise  among  the  parties  arising  out  of or in any way relating to this
Agreement  shall  be  finally  and  exclusively submitted to, and determined by,
binding  arbitration pursuant to and in the manner provided in Article 32 of the
Exploration  Agreement  as  if references in said Article 32 to "this Agreement"
were  to  this Agreement rather than to the Exploration Agreement and references
in  said  Article  32  to "Party" or "Parties" were to a party or the parties to
this  Agreement,  as  the  case  may  be,  which  arbitration  provisions  are
incorporated  herein  for  all  purposes.

     3.6     This  Agreement  may  be  executed  by  signing  the original or a
counterpart  hereof.  In  the  event  this  Agreement or counterparts hereof are
circulated and executed by facsimile transmission, the signatures of the parties
shall  be  considered  as  original  and self-proving for all purposes under the
applicable  law.  If  this  Agreement  is  executed  in  multiple  counterparts
(including  execution  of counterparts via facsimile), each counterpart shall be
deemed  an  original,  and all of which when taken together shall constitute but
one and the same agreement with the same effect as if all parties had signed the
same  instrument.  This  Agreement shall not become effective unless the parties
execute  and  return  this  Agreement  to  ExxonMobil  by  faxing  an  executed
counterpart  of  this  Agreement  to  ExxonMobil at 281-654-4131 by 6:00 P.M. on
March 30, 2006; provided, however, if ExxonMobil, Harding and at least one other
party  execute  and  return this Agreement to ExxonMobil by such time, then this
Agreement  shall  become effective as to all parties who execute and return this
Agreement  to  ExxonMobil  by  such  time.

     IN  WITNESS  WHEREOF,  the  parties  hereto have executed this Agreement in
multiple  counterparts  as  of  the  date  first  above  written.

<PAGE>
EXXON  MOBIL  CORPORATION                PETROSEARCH  ENERGY
                                         CORPORATION

By:                                      By:
    --------------------------------         -----------------------------------
Name:                                    Name:
      ------------------------------          ----------------------------------
Title:                                   Title:
       -----------------------------            --------------------------------

EAGLE OIL & GAS CO.                      PS GAS PARTNERS,
                                         LLC, INDIVIDUALLY AND
                                         AS GENERAL PARTNER ON
                                         BEHALF OF GAS PARTNERS, L.P.

By:                                      By:
    --------------------------------         -----------------------------------
Name:                                    Name:
     -------------------------------           ---------------------------------
Title:                                   Title:
     -------------------------------            --------------------------------

HARDING  COMPANY

By:
    --------------------------------
Name:
      ------------------------------
Title:
       -----------------------------

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