Document:

Signature
Exploration & Production Corp.

      5401 S.
Kirkman Rd., Suite 310

      Orlando,
Florida 32819

      

      Attn:
Harry Dawson

      3251 NW
Willow Rd

      Medicine
Lodge, KS 67104

      Fax:
620-886-3380

      

      
        	
                Reference:

              	
                Letter of Intent
      (“LOI”) for the establishment of a
      business relationship between Harry Dawson and Signature Exploration &
      Production Corp.

              

      

      

      This LOI
is intended only as an expression of the present intention of the parties and,
except where specifically indicated, is not to be construed as an agreement
between them. Except where specifically indicated, agreement between the parties
is subject to the execution and
delivery of
definitive agreements to be written by the respective attorneys representing
them.

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      Parties:

                                    	 
      
	 
      	 
      
	
                                      SXLP:

                                    	
                                      Signature
      Exploration & Production Corp. (“SXLP”) is a Delaware incorporated
      company.  SXLP is a reporting company, currently trading on the
      OTC Bulletin Board.

                                    
	 
      	 
      
	
                                      Harry Dawson:

                                    	
                                      Harry  Dawson
      (“HD”).

                                    
	 
      	 
      
	
                                      Relationship:

                                    	
                                      HD
      owns a portion of and holds oil and gas lease agreements on a certain
      2,200 acres in Barber County, KS., known as the Medicine River Ranch. HD
      desires to develop oil and gas wells on the property known as the Medicine
      River Ranch. SXLP is engaged in the business of exploration, finance,
      development, and production of natural resource
  properties.

                                    
	 
      	 
      
	
                                      Due Diligence:

                                    	
                                      Each
      party will perform its own review and analysis of information each such
      party deems relevant for any relationship.

                                    
	 
      	 
      
	
                                      Expenses:

                                    	
                                      All
      respective due diligence costs and out of pocket expenses are the
      responsibility of each party.

                                    
	 
      	 
      
	
                                      Non
      Circumvent:

                                    	
                                      For
      a period of twenty four (24) months following the signing of this LOI,
      SXLP agrees not to solicit, negotiate and/or accept any other oil and gas
      offer or to circumvent or go around HD with respect to the Medicine River
      Ranch without the written consent of the
HD.

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

       

      Letter
of Intent between SXLP & HD

      February
24, 2009

      

      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  Confidentiality:

                                	
                                  All
      parties shall keep this LOI and related documents and the information
      contained therein and herein in strict confidence, provided, however, that
      the parties will be permitted to share such information with their
      respective advisors and make such other disclosures as may be required by
      applicable law.

                                
	 
      	 
      
	
                                  Closing Conditions:

                                	
                                  The
      Closing (“Closing”)
      of any relationship contemplated hereunder is subject to satisfaction of
      customary closing conditions, including, each party’s due diligence
      requirements, execution of a satisfactory agreement and any other
      regulatory registration and compliance in connection with the
      relationship.

                                
	 
      	 
      
	
                                  Term of letter of Intent:

                                	
                                  This
      LOI will expire on June 30, 2009 or upon execution of definitive
      agreements establishing a business relationship.

                                
	 
      	 
      
	
                                  Nonbinding Agreement:

                                	
                                  Except
      as set forth under the paragraph
      entitled “Confidentiality” the provisions of which
      shall be binding, the terms and conditions set forth in this LOI are not
      intended to and do not constitute a binding or legally enforceable
      agreement. This LOI shall be governed and
      construed in accordance with the laws of the state of Florida, without
      regard to conflicts of law
principals.

                                

                        

                      

                    

                  

                

              

            

          

        

      

      

      IN
WITNESS WHEREOF, this LOI has been executed by the parties hereto on February
24, 2009.

      

      
        
          
            
              
                
                  
                    
                      
                        	
                                Signature
      Exploration & Production

                              	 
      	
                                Harry
      Dawson

                              
	 
      	 
      	 
      	 
      	 
      
	
                                By:

                              	
                                /s/ Steven Weldon

                              	 
      	
                                By:

                              	
                                /s/Harry Dawson

                              
	
                                Name:  Steven
      Weldon

                              	 
      	
                                Name: 
      Harry Dawson

                              
	
                                Title:     
      Chief Financial Officer

                              	 
      	
                                            
      Title:
Owner

                              

                      

                    

                  

                

              

            

          

        

      

       

      
        
           

        

        
          2GATING
AGREEMENT

     

    This
GATING AGREEMENT (the “Agreement”) is made this 27th day of February, 2009,
between Signature Exploration & Production Corp., a Delaware corporation
(the “Company”) and Scott Allen (the “Shareholder”).

     

    Recitals

     

    
      	
            	
              A.

            	
              The
      Company is in the process of executing on a new business direction and
      raising capital for the purpose of developing its business plan and
      promoting the financial interests of the Company and its
      shareholders.

            

    

     

    
      	
            	
              B.

            	
              It
      has been determined that to assist the Company in moving forward in these
      efforts, it is  necessary to restructure the existing financial
      affairs of the Company by, to the extent possible, placing certain shares
      of capital stock of the Company that are already issued and outstanding in
      a GATING AGREEMENT.

            

    

     

    
      	
              
              

            	
              C.

            	
              The
      Shareholder has agreed to place her or his or its shares into a GATING
      AGREEMENT pursuant to the terms and conditions of this
      Agreement.

            

    

     

    Agreement

     

    In consideration of mutual promises set
forth herein and other good and valuable consideration, the parties hereto agree
as follows:

     

    1.      Restriction on Transfer of
Shares.  The Shareholder agrees to not transfer, sell, assign
or convey, or offer or agree to transfer, sell, assign or convey more than 5
percent of her, his or its shares of stock of the Company (the “Shares”) during
any calendar month for a period of two years from the date of this Agreement.
The number of shares representing the 5 percent is based on the number of shares
owned on the date of this Agreement. By example, if a Shareholder owns 100,000
shares on the date of this Agreement, the Shareholder agrees to sell no more
than 5,000 shares per calendar month for the term of this
Agreement.

     

    2.      Consideration.  In
consideration for entering into and performing all of the terms and conditions
of this Agreement, the Shareholder shall be issued by Company, shares of common
stock of the Company (the “Consideration Shares”) equal in number to 5% of the
Shareholder’s Shares restricted by this Agreement.  The Consideration
Shares shall have the same restrictions on trading as the other Shares
restricted by this Agreement. The Consideration Shares will be delivered to the
Shareholder within 15 business days from the date of this
Agreement.

     

    3.      Notation
of  Shares.  The Shareholder shall assist the Company
in taking any or all of the following actions or other actions as requested by
the Company from time to time in order for the Shares to be designated as having
trading restrictions on the Shares:

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    
      	
            	
              a)

            	
              Forward
      any certificates representing the Shares to the Company so that
      certificates representing the Shares can be reissued to the Shareholder
      bearing appropriate restrictive
legends.

            

    

     

    
      	
            	
              b)

            	
              Supply
      the Company with information regarding brokerage accounts in which any of
      the Shares are deposited and countersign any correspondence to applicable
      brokerage houses instructing that the Shares not be traded except pursuant
      to the terms and conditions of this
Agreement.

            

    

     

    
      	
            	
              c)

            	
              Agreeing
      that the Company’s transfer agent be made aware of this Agreement and that
      by signing this Agreement, the transfer agent is authorized by the
      Shareholder to enforce this Agreement with respect to the
      Shares.

            

    

     

    4.      Remedies.  The
Shareholder acknowledges and agrees that the Company could not be made whole by
monetary damages in the event of any default by the Shareholder of the terms and
conditions set forth in this Agreement.  It is accordingly agreed and
understood that the Company, in addition to any other remedy which it may have
in law or equity, shall be entitled to an injunction or injunctions to prevent
breaches of this Agreement and specifically to enforce the terms and provisions
hereof in any action instituted in any court of the State of Florida or in any
other court that has appropriate jurisdiction.

     

    5.      Modification.  No
modification of this Agreement shall be valid unless made in writing and signed
by both parties.

     

    6.      Binding
Effect.  This Agreement shall be binding upon the parties and
their respective heirs, successors and assigns.

     

    7.      Integration.  This
Agreement is intended to be the final and complete statement of the terms of the
parties' agreements regarding the subject of this Agreement.  This
Agreement supersedes all prior agreements and statements on these subjects, and
it may not be contradicted by evidence of any prior or contemporaneous
statements or agreements.

     

    8.      Construction.  This
Agreement shall be construed as a whole, according to its fair meaning, and not
in favor of or against any party.  By way of example and not
limitation, this Agreement shall not be construed against the party responsible
for any language in this Agreement.  The headings of the paragraphs
hereof are inserted for convenience only, and do not constitute part of and
shall not be used to interpret this Agreement.

     

    9.      Attorneys'
Fees.  Should either party or a successor or permitted assign
of either party resort to legal proceedings to enforce this Agreement, the
prevailing party in such legal proceeding shall be awarded, in addition to such
other relief as may be granted, attorneys' fees and costs incurred in connection
with such proceeding.

     

    10.     Severability.  If
any term, provision, covenant or condition of this Agreement, or the application
thereof to any person, place or circumstance, shall be held to be invalid,
unenforceable or void, the remainder of this Agreement and such term, provision,
covenant or condition as applied to other persons, places and circumstances
shall remain in full force and effect.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    11.     Recitals.  The
recitals set forth in the forepart of this document are hereby incorporated
herein as though fully set forth in this section 11.

     

    12.     Acknowledge and Agreement to
Perform Necessary Acts.  The Shareholder acknowledges that she,
he or it has had the opportunity to consult legal counsel in regard to this
Agreement, that Shareholder has read and understands this Agreement, that she,
he or it is fully aware of its legal effect, and that Shareholder has entered
into it freely and voluntarily and based on her, his or its own judgment and not
on any representations or promises other than those contained in this
Agreement.  Shareholder agrees to perform any further acts and execute
and deliver any documents that may be reasonably necessary to carry out the
provisions and the intention of this Agreement.

     

    IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date set
forth below.

     

    SIGNATURE
EXPLORATION & PRODUCTION CORP.

    

    By: /s/ Steven
Weldon

    Name:
Steven
Weldon

    Title:
Chief Financial
Officer

    

    SHAREHOLDER

    

    By: /s/ Scott
Allen

    Name:
Scott
Allen

    Number of
shares owned: 6,538

     

    
      
         

      

      
        3

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