Document:

EXHIBIT
4.3

    

    GUILDHALL
MINERALS LTD.

    320 -
1100 Melville Street

    Vancouver,
B.C. V6E 4A5

    Tel:
(604) 688-3931

    Fax:
(604) 688-2921

    May 1,
2008

    

    British
American Natural Gas Corporation

    520 Post
Oak Blvd., Suite 275

    Houston,
Texas, USA 77027

    Attention:
Mr. David Melman, Pres. & CEO

    

    

    LETTER OF
INTENT

    

    WHEREAS Guildhall Minerals
Ltd. ("Guildhall") is a British Columbia company, the shares of which are listed
for trading on the NEX board ("NEX") of the TSX Venture Exchange (the "TSXV") in
Canada. Guildhall is a reporting issuer in the provinces in British Columbia and
Alberta. It is also registered with the U.S. SEC pursuant to the filing of a
20-F Registration Statement. The shares are also quoted for trading on the NASD
OTC Bulletin Board. It has 16,643,012 voting common shares issued. It has no
other shares issued. Its authorized capital consists of an unlimited number of
voting common shares without par value. It has approximately $625,000 cash on
hand and no debts except current trade debts.

     

    AND WHEREAS Guildhall IS
restructuring itself to engage In oil and gas exploration, development and
production. AND WHEREAS Guildhall has agreed to acquire First West Petroleum
Inc. ("First West") for the issuance of 26,000,000 shares of Guildhall Common
Stock in order to acquire producing oil and gas assets in Canada.

     

    AND WHEREAS British American
Natural Gas Corporation ("BANG") is a private Nevada company which is the owner
of interests in concessions ("Interests") covering approximately 11,400,000
acres onshore and offshore Mozambique - which are held in four wholly owned
subsidiary corporations, three incorporated in Mauritius and one in The
Bahamas.

     

    AND WHEREAS Guildhall wishes
to acquire BANG for the exploration potential of its Interests.

     

    AND WHEREAS BANG has maturing
contractual obligations with respect to funding participation in one exploration
well and potentially two appraisal wells to be drilled on the Interests which
will require a $2,000,000 loan to be available by June 17,2008 (the "Interim
Funding").

     

    AND WHEREAS BANG has 9,361,597
shares of Common Stock issued and outstanding held by 22 registered or
beneficial shareholders which are to be acquired by Guildhall for the issuance
of 46,807,985 shares of Guildhall Common Stock.

     

    AND WHEREAS BANG has 2,080,345
Preferred Stock issued and outstanding ("BANG Preferred Shares"), the holders of
which have the right to convert them into shares of Common Stock or which are
automatically converted to or exchanged for shares of Common Stock on the
occurrence of certain events - and it is expected that the within agreement will
trigger the exchange of such shares for 10,401,725 shares of Guildhall Common
Stock.

     

    AND WHEREAS BANG also has
warrants outstanding ("BANG Warrants") to purchase shares of BANG Common Stock
which will be exchanged for new warrants to acquire 7,634,930 shares of
Guildhall Common Stock at $0.75 per share.

     

    AND WHEREAS David Melman
("Melman"), the President and Chief Executive of BANG, holds options to purchase
900,000 shares of BANG Common Stock which options are to be exchanges for
options to purchase 4,500,000 shares of Guildhall Common Stock at a price of
$0.75 per share.

     

    AND WHEREAS BANG's legal and
tax advisors have advised that the preferred way of effecting the acquisition of
BANG by Guildhall is for Guildhall to purchase all issued and outstanding shares
of BANG in consideration for the issuance and allotment of 57,209,710 of
Guildhall Common Stock (the "Acquisition").

     

    AND WHEREAS concurrently with
the closing of Guildhall's acquisition of First West and BANG, the parties wish
for Guildhall to graduate to the Toronto Stock Exchange (the
"Exchange").

     

    
      
         

      

      
        Exhibit
4.3

        
          

        

      

      
         

      

    

     

    AND WHEREAS it is recognized
that, to have the within transaction accepted by the Exchange, the TSXV and NEX,
as the case may be, Guildhall will have to present to the Exchange, the TSXV and
NEX, as the case may be, at least:

     

    
      	
               
      

            	
              (a)

            	
              a
      report on all or a portion of the Interests prepared in compliance with
      the requirements of Canadian National Instrument 51-101 - Standards of Disclosure for
      Oil and Gas Activities ("NI
51-101");

            

    

    

    
      	
               
      

            	
              (b)

            	
              financial
      statements of BANG audited to December 31, 2007 with comparative figures
      for the two previous years;

            

    

    

    
      	
               
      

            	
              (c)

            	
              a
      sponsorship agreement;

            

    

    

    
      	
               
      

            	
              (d)

            	
              Form
      4 Personal Information Forms completed by the persons who will be the
      directors, officers and insiders of Guildhall upon the completion of the
      within transaction.

            

    

    

    NOW THEREFORE for good and
valuable consideration, the receipt and sufficiency of which we hereby
acknowledge the Parties hereto agree that:

    

    
      	
              1.

            	
              Guildhall
      is to enter into a support agreement with First West and a lock up
      agreement with each of Chris Wright and Sam Davaraj (together, the "FW
      Controlling Shareholders"), whereby Guildhall agrees to purchase all of
      the issued and outstanding share capital of First West and the FW
      Controlling Shareholders agree to tender their shares to a formal
      take-over bid of First West by
Guildhall.

            

    

    

    
      	
              2.

            	
              Guildhall
      will initiate an application to have the common shares of Guildhall listed
      on the Exchange and to have the within transaction approved by the
      Exchange and will, in that respect, comply with the requirements of the
      Exchange. If Guildhall does not meet the listing requirements of the
      Exchange, Guildhall will initiate an application to have the common shares
      of Guildhall listed on the TSXV and to have the within transaction
      approved by the TSXV and will, in that respect, comply with the
      requirements of the TSXV. Guildhall will also comply with the reactivation
      and other applicable rules ofNEX.

            

    

    

    
      	
              3.

            	
              Guildhall
      will hold a Special Meeting of its shareholders and seek approval of the
      within transaction and if applicable, the acquisition of First West,
      including listing of its common shares on the Exchange or the TSXV, as the
      case may be, the subdivision of its issued shares on a 1.5 new for 1.0 old
      basis so that Guildhall has 24,964,518 shares issued and outstanding, the
      name change to British American Natural Gas Corporation and appointment of
      up to six directors, including four nominees chosen by
    BANG.

            

    

    

    
      	
              4.

            	
              Guildhall
      will seek and secure not less than the requisite special majority approval
      of Guildhall shareholders in support of the within transaction and
      ancillary actions described in paragraph 3
  above.

            

    

    

    
      	
              5.

            	
              Intentionally
      Deleted.

            

    

    

    
      	
              6.

            	
              BANG
      and Melman will seek to have 100% of the BANG Preferred Shares converted
      to BANG Shares so that, upon the closing of the within transaction, BANG
      will have no outstanding Preferred
shares.

            

    

    

    
      	
              7.

            	
              BANG
      and Melman will seek and secure not less than a 67% vote in support of the
      within transaction by the shareholders of
BANG.

            

    

    

    
      	
              8.

            	
              All
      issued and outstanding BANG Warrants shall be exchanged for replacement
      warrants issued by Guildhall to purchase 7,634,930 shares of Guildhall
      Common Stock at $0.75 per Guildhall
share.

            

    

    

    
      	
              9.

            	
              Guildhall
      will use its best efforts to engage brokers to secure purchasers for not
      less than 26,666,666 nor more than 40,000,000 shares of Guildhall Common
      Stock at a price of not less than $0.75 per share to provide Guildhall
      with gross proceeds of at least $20,000,000 nor more than $30,000,000,
      such share sales to close prior to the closing of the Acquisition (the
      "Financing"). BANG and Guildhall shall pay to such brokers a cash
      commission of 8% of the gross proceeds of the Financing and broker
      warrants exercisable for 10% of the number of shares of Guildhall Common
      Stock issued pursuant to the Financing at $0.75 per
  share.

            

    

    

    
      	
              10.

            	
              BANG
      shall retain an independent qualified reserves evaluator or auditor (as
      those terms are defined in NI 51-10 I) to prepare
      a report on all or a portion of the Interests in compliance with NI51-101.
      II. If the closing of the Acquisition does not occur on or prior to June
      16, 2008, Guildhall will secure and advance to BANG the funds required by
      BANG to meet the Interim Funding requirement. Should Guildhall be unable
      to make such advance, the intended transaction as described herein shall
      be deemed terminated with no further liability to anyone of Guildhall,
      First West or BANG.

            

    

     

    
      
         

      

      
        Exhibit
4.3

        
          

        

      

      
         

      

    

     

    
      	
              12.

            	
              Melman
      will surrender the 900,000 BANG options he holds and Guildhall will,
      concurrently with the closing of the Acquisition, grant him an option to
      acquire 4.5 million shares of Guildhall Common Stock on substantially the
      same terms as the BANG options currently issued to Melman, except that the
      exercise price shall be $0.75 per share provided that the offering
      described in paragraph 9 is not at a lower price. One half of the newly
      issued options will be fully vested upon the grant date, 25% shall vest on
      January I,
      2009 and the remaining 25% shall vest on January 1,
      2010.

            

    

    

    
      	
              13.

            	
              All
      of the Parties agree to undertake the satisfaction of their
      responsibilities and obligations expeditiously with a view to having the
      within Agreement documented, accepted by the Exchange or the TSXV, as the
      case may be, and closed at the earliest reasonable
  date.

            

    

    

    
      	
              14.

            	
              It is
      acknowledged that the closing of the acquisition by Guildhall of First
      West, the Financing referred to in paragraph 9 and the closing of the
      within Agreement are to occur sequentially following the Exchange's, or
      the TSXV's, as the case may be, acceptance of the
      transactions.

            

    

    

    
      	
              15.

            	
              To
      the extent that neither the TSX nor the TSXV policies impose a hold period
      on the shares of Guildhall Common Stock issued to First West shareholders,
      concurrently with the closing of the acquisition of First West, Guildhall
      shall enter into lock-up agreements with the FW Controlling Shareholders
      to the effect that neither shareholder will offer, sell, contract to sell,
      pledge or otherwise dispose of, (or enter into any transaction which is
      designed to, or might reasonably be expected to, result in the disposition
      by such shareholder or any affiliate of such shareholder), directly or
      indirectly, any shares of Guildhall Common Stock or any securities
      convertible into, or exercisable or exchangeable for shares of Guildhall
      Common Stock, or publicly announce an intention to effect any such
      transaction, for the period commencing on the closing date and ending on
      the date that is 90 days after the closing
date.

            

    

    

    
      	
              16.

            	
              Intentionally
      Deleted.

            

    

    

    
      	
              17.

            	
              BANG
      will deliver year end December 31, 2007 financial statements audited
      pursuant to US GAAP standards by April 30,
2008.

            

    

    

    
      	
              18.

            	
              BANG
      is to expeditiously complete due diligence, to be conducted by such
      counsel, geological consultants, and financial consultants as it, in its
      absolute and sole discretion, chooses to retain to examine the business
      affairs and financial affairs of Guildhall and of First West, and the
      title to and geologic viability of the First West
  Assets;

            

    

    

    
      	
              19.

            	
              Each
      of the Parties agrees to negotiate in good faith to structure the
      Acquisition in the most tax effective manner to BANG, its shareholders,
      Guildhall and its shareholders. The obligation of BANG to complete the
      Acquisition is conditional upon BANG receiving an opinion of counsel of
      its choice that the Acquisition will be tax-free in the United States and
      Canada for BANG shareholders.

            

    

    

    
      	
              20.

            	
              Each
      of the Parties shall be responsible for its own fees and expenses in
      connection with the Acquisition.

            

    

    

    
      	
              21.

            	
              Time
      is of the essence in this
Agreement.

            

    

    

    
      	
              22.

            	
              This
      Agreement shall be governed by the laws of the Province of British
      Columbia and the federal laws of Canada applicable
      therein.  Each of the parties agrees to attorn to the exclusive
      jurisdiction of the courts of British
Columbia.

            

    

    

    AGREED TO
effective this 21st day of
May, 2008.

    

    GUILDHALL
MINERALS, LTD.

    

    
      
        
          
            
              
                	
                        Per:

                      	 
      	 
      
	 
      	 
      	
                        Michael
      M.D. Laidlaw,
President

                      

              

            

          

        

      

    

    

    BRITISH
AMERICAN NATURAL GAS

    CORPORATION

    

    
      
        
          
            	
                    Per:

                  	 
      	 
      
	 
      	 
      	
                    David
      A. Melman, President and
CEO

                  

          

        

      

    

    
      
         

      

      
        Exhibit
4.3Exhibit
4.4

     

    LETTER OF
INTENT

     

    THIS
LETTER OF INTENT hereinafter referred to as the "LOI", is entered into; dated and
made effective this 20th day of
May, 2008,

     

    
      	
              BETWEEN:

            	
              GUILDHALL
      MINERALS LTD., a British Columbia corporation having an office at 320 -
      1100 Melville Street in the City of Vancouver, British Columbia V6E
      4A6

            

    

     

    ("Guildhall")

     

    
      	
              AND:

            	
              FIRST
      WEST PETROLEUM INC, an Alberta corporation having an address at Suite 1000
      — 521 3rd
      Avenue, Calgary, Alberta T2P
3T3

            

    

     

    ("First
West")

     

    WHEREAS
First West is the beneficial owner of 100% right, title and interest in the
assets described in Schedule "A" (Land) and Schedule "C" (Equipment) attached
hereto (the "Assets")

     

    AND
WHEREAS Guildhall intends to make to the shareholders of First West (the "First
West Shareholders") an offer (the "Offer"), by way of bid circular or other
document in conformity with Multilateral Instrument 62-104 and applicable
securities laws, rules and regulations,
to purchase all of the issued and outstanding shares of First West (the "First
West Shares") in exchange for the payment to the First West Shareholders, pro
rata each according to his or her interest, of the consideration described in
sections 2 and 3 hereof.

     

    AND
WHEREAS the parties hereto wish to enter into this non-binding Letter
of Intent to record their understanding of the process and concurrent
transactions which will be associated with the offer by Guildhall to acquire the
First West Shares, including First West's understanding of the financial support
it will receive from Guildhall concurrently with Guildhall's purchase of the
First West Shares,

    

    NOW,
THEREFORE, in consideration of $10.00 and other good and valuable consideration,
the parties agree as follows:

     

    
      	
              1.

            	
              The
      parties hereto agree that they will act together towards ensuring that
      Guildhall is able to, on or before the date thirty (30) days from the date
      hereof, make an offer (the "Offer") to the First West Shareholders,
      containing substantially the same terms and provisions as this LOI, to
      purchase the First West Shares.

            

    

     

    
      	
              2.

            	
              The
      Offer shall provide that the closing (the "Closing") of the acquisition of
      the First West Shares by Guildhall will be conditional
    upon:

            

    

     

    (a)
Guildhall agreeing to loan on Closing or immediately thereafter to First West
Cdn$5,000,000 (the "Subsidiary Loan") for First West to carry on its business of
managing the Assets, which Subsidiary. Loan
will be funded upon closing of the Financing contemplated in section
2(h);

     

    (b)
Guildhall loaning to First West, within ten (10) days of the date of this L0I,
$250,000 which loan will be forgiven if the Closing does not occur;

     

    (c)         First
West securing, within thirty (30) days of the date of this LOI, an additional
$250,000 in loan financing in addition to that in section 2(b);

     

    (d)         the
assumption and payment, by Guildhall concurrently with Closing or immediately
thereafter, of the debts of First West which debts will not materially exceed
$5,750,000 including any fund loaned to First West by Guildhall. The payments of
debts, including the debts of First West to Sabre Energy Ltd. in the amount of
approximately $2,229,170.86, will be funded by the closing of the Financing
contemplated in section 2(h). The parties acknowledge that there may be some
debts, in particular small trade payable debts, which it is not feasible to
assign and further acknowledge that not all creditors may agree to the
assignment of the debts from First West to Guildhall or consent to the
assignment. All FWP debts are outlined in Schedule "B".

     

    (e)
Guildhall agreeing to pay First West's costs, including legal costs, of
negotiating and carrying out the transactions contemplated in this
LOI;

     

    
      
         

      

      
        Exhibit
4.4

        
          

        

      

      
         

      

       

    

    (f)       Guildhall
having secured shareholder approval, and having completed, a share split on a
1.5 new shares for LO old shares basis prior to the Closing and the issuance of
the Guildhall Shares contemplated in section 3 below;

     

    (g)        Guildhall
having secured TSX Exchange approval of its listing on the TSX or, in the
alternative, secured TSX-Venture Exchange approval of its relisting on the
TSX-Venture Exchange and any required concurrent NEX approval;

     

    (h)          Guildhall
having entered into subscription agreements providing fur a minimum of
$30,000,000 in equity financing (the "Financing") and having received TSX
Exchange or TSX-Venture Exchange for the Financing.

     

    (i)       Guildhall
concurrently with Closing appointing to its board of directors two persons
designated by First West; and

     

    (j)        Guildhall
shall offer to issue, to the holders of 3, 65,897 First West share purchase
warrants, 3,894,053 warrants to purchase Guildhall shares (the "Guildhall
Warrants"). The Guildhall Warrants will have the following terms, comparable to
the terms of the First West share purchase warrants: 1,192,866 Guildhall
Warrants shall be exercisable until Sept. 19, 2008 at $1.35 per share; 651,187
Guildhall Warrants will be exercisable until Sept. 19, 2008 at $0.85 per share
and 2,050,000 Guildhall Warrants will be exercisable until the date which is two
(2) years from the Closing at an exercise price of $0.75 per share.

     

    
      	
              3

            	
              As
      consideration for the purchase of the First West Shares, Guildhall shall
      issue to the First West Shareholders a total of 24,500,000 shares of
      common stock of Guildhall (the "Guildhall Shares") for the First West
      Shares issued and outstanding as of Closing. The Guildhall Shares will
      represent the purchase price (the "Purchase Price") for the First West
      Shares. There are 19,837,034 First West Shares issued and outstanding. In
      addition to the 24,500,000 Guildhall Shares to be issued to the First West
      Shareholders, Guildhall shall issue to a finder (Bayside Consultants a
      total of 1,500,0110 common shares (the "Finders Shares") as a finder's fee
      in connection with this transaction, If the TSX or the ISX-V requires that
      the number of Finders Shares be reduced, then the 24,500,000 Guildhall
      Shares will be increased by a corresponding
  number.

            

    

     

    
      	
              4.

            	
              If
      necessary to comply with applicable company law or securities law, rules
      and regulations, First West will call a meeting of its shareholders to
      approve the transactions contemplated in the Offer and to secure any other
      necessary shareholder approval of the
Offer.

            

    

     

    
      	
              5.

            	
              If
      necessary to comply with applicable securities laws, rules and
      regulations, Guildhall shall distribute to the First West Shareholders a
      takeover bid circular prepared in accordance with MI 62-104 or other
      disclosure document drafted by the corporate counsel for Guildhall with
      First West's review and consent to the
document.

            

    

     

    
      	
              6.

            	
              The
      acquisition of the First West shares will be conditional upon Guildhall
      agreeing to provide to First West a loan (the "Loan Funds") of $100,000,
      payable within thirty (30) days of the date hereof. If the Closing of the
      acquisition of the First West Shares does not close, the Loan Funds will
      not be repayable for a period of six (6)
months.

            

    

     

    
      	
              7.

            	
              The
      Offer will provide that the Closing will be conditional upon the
      following:

            

    

     

    
      
        	
                
                

              	
                (a)

              	
                The
      First West Shareholders and First West shall operate the business of First
      West only in the ordinary course and will not sell, distribute, license or
      encumber any of the Assets;

              

      

    

     

    
      
        	
              	
                (b)

              	
                the
      receipt of any certificates, legal, tax or other opinions and/or documents
      related to the Assets, including a legal opinion of local Albertan counsel
      that the transfer contemplated by the Offer of the First West Shares is
      binding under applicable Alberta laws, as Guildhall may reasonably
      request;

              

      

    

     

    
      
        	
              	
                (c)

              	
                the
      receipt of all consents, approvals, authorizations and orders required of
      or for the completion of any document required
  hereunder;

              

      

    

     

    
      
        	
              	
                (d)

              	
                satisfactory
      completion of due diligence, to be conducted by Guildhall's counsel and
      such other or additional firm, geological consultant or agent as Guildhall
      chooses to use, at the absolute and sole discretion of Guildhall,
      concerning the business, affairs, financial affairs and assets of First
      West, the First West Shareholders and the legal status of the
      Assets;

              

      

    

     

    
      
        	
              	
                (e)

              	
                with
      respect to the Assets, the existence of no outstanding mergers,
      acquisitions, financial commitments, obligations, liabilities, etc. other
      than those contemplated in this transaction or incurred in the ordinary
      course of business;

              

      

    

     

    
      
        	
              	
                (f)

              	
                with
      respect to the First 'West Shares, the existence of no outstanding
      agreements or understandings providing fir the transfer, assignment, sale
      or encumbrance of any of the First West Shares. other than as contemplated
      by any First West Shareholder's acceptance of the Offer;
    and

              

      

    

     

    
      
        	
              	
                (g) 

              	
                regulatory
      acceptance of the Offer that Guildhall must
  secure.

              

      

    

     

    
      
         

      

      
        Exhibit
4.4

        
          

        

      

      
         

      

    

     

    
      
        	
                8.

              	
                Guildhall
      will, in the Offer or otherwise, represent and warrant to the First West
      Shareholders or to First West
that:

              

      

    

     

    
      
        	
              	
                (a)

              	
                it
      is validly incorporated and is in good standing with all applicable
      regulatory agencies;

              

      

    

     

    
      
        
          	
                	
                  (b)

                	
                  there
      are no legal actions against Guildhall or its directors or officers and
      the company knows of no intended legal actions against the company and is
      not engaged
      in any legal actions against other
parties;

                

        

      

    

     

    
      
        	
              	
                (c)

              	
                other
      than as have been or will be publicly disclosed, there are no outstanding
      mergers, acquisitions, financial commitments, obligations, liabilities,
      etc. other than those contemplated in this transaction and in the Offer
      concerning Guildhall; and

              

      

    

     

    
      
        
          	
                	
                  (d)

                	
                  there
      are no legal actions against the company or directors, officers and/or
      shareholders of the company nor does Guildhall. know of any intended legal
      actions against it or any of its directors and Guildhall is riot engaged
      in any legal actions against other parties, and is current in all filings
      with tax and regulatory
authorities.

                

        

      

    

     

    9.           First
West will, concurrently with closing of the Offer, represent and warn Guildhall
that:

     

    
      
        	
              	
                (a)

              	
                First
      West is in good standing with all regulatory
  agencies;

              

      

    

     

    
      
        	
              	
                (b)

              	
                there
      are no legal actions against the Assets or against First West or directors
      of First West nor does First West know of any intended legal actions,
      including government actions for environmental or royalty / tax
      liabilities, against it or any of its directors or against First West and
      First West is not engaged in any legal actions against other parties, and
      First West is current in all filings with tax and regulatory
      authorities;

              

      

    

     

    
      
        	
              	
                (c)

              	
                its
      business and financial condition remain materially unchanged from any due
      diligence or financial statement documentation provided to Guildhall prior
      to Closing;

              

      

    

     

    
      
        	
              	
                (d)

              	
                subject
      to the Royalty, First West owns a 100% beneficial right, title and
      interest in and to the Assets, subject to any liens, charges,
      securitizations, filings or debts disclosed in the schedule or financial
      statements of First West provided to Guildhall prior to
      Closing;

              

      

    

     

    
      
        	
              	
                (e)

              	
                there
      have been no other issuances of shares of its capital stock, or
      instruments exercisable for, convertible into or otherwise entitling the
      holder to acquire shares of its capital stock, other than in connection
      with the Closing or financing of the transactions to be contemplated in
      the Offer;

              

      

    

     

    
      
        	
              	
                (f)

              	
                First
      West and its Assets are the subject of no outstanding mergers,
      acquisitions, financial commitments, obligations, liabilities, etc, other
      than those contemplated in the
Offer.

              

      

    

     

    10. The
Offer shall provide that each and every obligation of Guildhall to be performed
thereunder shall be subject to the satisfaction prior thereto of the following
conditions:

     

    
      
        	
              	
                a)

              	
                the
      representations and warranties made by First \Vest in this LOI shall be
      substantially accurate in all material respects on arid as of Closing with
      the same effect as though such representations and warranties had been
      made or given on and as of
Closing;

              

      

    

     

    
      
        	
              	
                b)

              	
                The
      First West Shareholders shall have performed and complied with all
      obligations and covenants required by the Offer to be performed or
      complied with by them prior to or at
Closing;

              

      

    

     

    
      
        	
              	
                c)

              	
                Guildhall
      shall have been furnished that information on the business and affairs of
      First West which it deems, in its sole and absolute discretion, to be
      necessary for it to meet its regulatory obligations, if
    any;

              

      

    

     

    
      
        	
              	
                d)

              	
                as
      of Closing there shall not have occurred any material adverse change to
      First West or the Assets, financially or otherwise, which materially
      impairs the ability of Guildhall to conduct the business of First West and
      of the Assets;

              

      

    

     

    
      
        	
              	
                e)

              	
                the
      completion, by First West, of any financial statements required to be
      filed, on a consolidated basis with Guildhall's financial statements,
      following the Closing; and

              

      

    

     

    
      
        	
              	
                f)

              	
                the
      opinion of counsel to Guildhall that the Closing will not result in
      Guildhall breaching any applicable securities law, rules and
      regulations.

              

      

    

     

    11. The
Offer shall provide that each and every obligation of the First West
Shareholders and First West to be performed on Closing shall be subject to the
satisfaction prior thereto of the following conditions:

     

    
      
         

      

      
        Exhibit
4.4

        
          

        

      

      
         

      

    

     

    
      
        	
              	
                (a)

              	
                the
      representations and warranties made by Guildhall in this Trill and the
      Offer shall be substantially accurate in all material respects on and as
      of Closing withthe same effect as though such representations
      and warranties had been made or given on and as of
  Closing;

              

      

    

     

    
      
        	
              	
                (b)

              	
                Guildhall
      shall have performed and complied with all obligations and covenants
      required by the Offer to be performed or complied with by it prior to or
      at Closing; and

              

      

    

     

    
      
        	
              	
                (c)

              	
                as
      of Closing there shall not have occurred any material adverse change to
      Guildhall, financially or otherwise, which materially impairs the ability
      to conduct its business.

              

      

    

     

    12.
Neither Guildhall on the one hand, and First West on the other, will make any
disclosure or public announcements of the proposed transactions, the Offer or
the terms thereof without the prior knowledge of the other. Because of the
number of First West Shareholders, Guildhall may disclose or make public
announcements of the proposed transactions, the Offer or the terms thereof
without first notifying the First West Shareholders.

     

    13. Each
party agrees and acknowledges that such party and its directors, officers,
employees, agents and representatives will and may disclose business information
and information about the proposed transaction in the course of securing
financings for Guildhall and that both parties and their representatives may be
required to disclose that information under applicable regulatory or legal
requirement, if any.

     

    14.  The
parties hereto agree that neither will solicit any third party for the
licensing, lease, transfer, assignment, encumbrance or sale of any or all their
respective interests in the Assets or the First West Shares, or solicit
opportunities for either party to enter into any discussions with any third
party for the licensing, lease, transfer, assignment, encumbrance or sale of any
or all of the Assets or the First West Shares, for the term of the Offer. This
section shall not be read to prohibit the parties from conducting such
discussions which are in the ordinary course of business but is intended to be
read as protecting each of the parties from the other entering into negotiations
which would conflict with the transactions contemplated by the
Offer,

     

    15.  This
LOI shall be construed in accordance with, and governed by, the laws of the
Province of British Columbia, and each party separately and unconditionally
subjects to the jurisdiction of any court of competent authority in the Province
of British Columbia, and the rules and regulations thereof.

     

    16.  This
LOI sets forth the entire understanding of the parties with respect to the
subject matter hereof. The LOI may be modified at anytime by agreement of the
parties hereto.

     

    17.  The
parties shall, on or before Closing, prepare, execute and file any and all
documents (including, if necessary, a directors circular of First West)
necessary to comply with all applicable provincial securities laws, rules and
regulations in any jurisdiction that are required to do so,

     

    18.  If
any term or provision hereof shall be held illegal or invalid, this LOI shall be
construed and enforced as if such illegal or invalid term or provision had not
been continued herein,

     

    19.  Unless
otherwise indicated, all references to currency in this LOI are references to
the lawful currency of Canada,

     

    20. The
obligations of Guildhall hereunder are expressly conditional upon TSXVenture
Exchange, NEX or TSX approval of this Letter of Intent and the acquisition Of
the First West Shares by way of the Offer.

    

    DATED
EFFECTIVE THIS  20TH DAY OF MAY, 2008

    

    
      
        
          
            
              
                	 
      	 
      	 
      
	 
      	 
      	
                        FIRST
      WEST PETROLEUM INC.

                      
	 
      	 
      	 
      
	 
      	 
      	
                        GUILDHALL
      MINING
LIMITED

                      

              

            

          

        

      

    

     

    
      
         

      

      
        Exhibit
4.4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}]]