Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Texoda Energy Corporation - Exhibit 10.20

Texola Energy Corporation

Attn: Mr. Thornton J. Donaldson, President

Re: Finder’s Fee Agreement – Fort Scott Energy
Corporation

As contemplated in our Confidentiality Agreement as at November
1, 2005, and in furtherance of our proposed meeting with my “prospect group” –
Cedar Strat Corp., on December 16, 2005, I want to confirm the following
agreement as between Fort Scott Energy Corp. (Fort Scott or its assigns) and
Texola Energy Corporation (Texola) arising from any participation or exploration
agreement entered into or arising out of the said meeting. 

It is hereby agreed as between each of Fort Scott and Texola
that in consideration of the time, effort, skill, negotiations, relationships,
and meetings set up by Fort Scott relating to the lands and leases set out in
Schedule A hereto; and in further consideration of any direct or indirect
participation or exploration agreements which may be entered into (the
Participation Agreement) as between Texola and Cedar Stratagrahpic Corp.: 

	 	1. 	
      That forthwith upon the execution and delivery of the
      Participation Agreement, Texola will grant and deliver to Fort Scott (or
      its assigns) a convertible debenture, effective as at November 1, 2005, in
      the principle amount of $500,000 usd. The debenture will have a 3 year
      term and bear interest at a rate of 6%. The debenture and any interest
      accrued thereon may be convertible by Fort Scott at any time after the
      date of grant, into “Units” at a deemed price of $0.50 per Unit. Each Unit
      will consist of one non assessable and fully paid common share in the
      capital stock of Texola and one warrant to purchase one additional common
      share upon payment of the additional consideration of $0.50 per share;
      and

	 	2. 	
      That Texola will further execute and deliver any such of
      the form of Confidentiality Agreement as may be required by Fort Scott and
      Cedar Strat prior to the proposed meting of December 16,
  2005.

In discussions as between Fort Scott and Cedar Strat over the
past few weeks, Fort Scott sought to provide greater certainty on the proposed
terms which would be demanded or required by Cedar Strat relating to any oil and
gas prospects on the lands and Leases set out herein. To this end, Fort Scott
has been successful in negotiating the following general terms and conditions
that would be required to form part of any Participation Agreement, the details
of which shall be negotiated as between Texola and Cedar Strat after a prospect
area is identified. 

General Participation -Texola:

1. Prospect
Fees:           Areas have
been defined in Schedule A and priced based upon approximately $10/acre. 

If required by Texola, Fort Scott will work with Texola to
select the prospect from the lease areas set out in Schedule A. To cover
expenses incurred by Fort Scott in its dealings and negotiations with Cedar
Strat, Cedar Strat will be required to pay Fort Scott the sum of $0.50 cents per
acre from the $10 prospect fee it receives.

10% of the prospect fee will be required to be paid to Cedar
Strat upon the execution and delivery of the Participation Agreement with the
balance to be paid when the acreage is acquired. Texola is required to acquire
the acreage at its cost. The area and the prospect fee for each such prospect is
as setout in Schedule A. If Texola does not acquire the entire amount of acreage
in a prospect area, the fee does not change.

2.
Royalty:          
Texola will retain an 80% Net Revenue Interest. A standard 12.5% will be held by
the Bureau of Land Management, 7.5% will be held by Cedar Strat (of which 2%
will be held by Fort Scott).

3. Back-in
Interest:           Cedar
Strat shall have the right to back in as to 15%, after payout.

4. Well
Commitments:           One
well must be drilled in 18 months from the delivery of data by Cedar Strat. 

If it is fractured shale Texola is are targeting, it would have
to drill to the shallower of 10,000 feet or to test 1,000 feet of Mississippian
Chainman Shale. If Texola is focused on a structure in the area, Cedar Strat
will require the shallower of an 18,000 foot well or penetrating the subthrust
Devonian Simonson or if they hit commercial oil.

If Texola is to buy two prospect areas the second well may be
on the second prospect drilled during the following year, meaning the
commencement of the second well is before 30 months from the effective date.

5. Data to be
Provided:           Data
provided by Cedar Strat will include the license to the surface geologic map,
license to biostratigraphic samples that Cedar Strat collects within the AMI,
proprietary and commercial gravity over the area, (the proprietary data will be
licensed as part of the prospect fee, a secondary license to the commercial
gravity may be arranged at a discount through Cedar Strat but will be an
additional charge paid to the vendor), Commercial aeromagnetics (same as
commercial gravity for secondary license), non-exclusive license to 6 well
studies (most if not all of the wells are outside of the AMI and therefore
cannot be exclusive to this AMI).

6.
Default:          
Default of not drilling within the time will cause a relinquishment of leases to
Cedar Strat without claims, liens or encumbrances by Texola. 

7. Commercial
Seismic:           Any
commercial seismic data acquisition or shooting new seismic and reprocessing
will be a cost outside of the prospect fee. Cedar Strat will receive a license
to any seismic data acquired. 

8. Area of Mutual
Interest:           In
addition to the non-compete and non-disclosure area outlined in the Schedule A,
there needs to be a 6 mile buffer (1 township) in all directions for the
specific prospect(s) chosen.

To the extent that the terms and conditions set out in this
agreement are acceptable, please execute and return the same to the undersigned
in order that I may proceed to set up the meeting scheduled for December 16,
2005 at my offices as between Cedar Strat, Fort Scott, and Texola. 

Dated at Vancouver, BC, this 5th day of December, 2005. 

	/s/ Thornton
      Donaldson 	.
	Texola Energy Corp., by its President. 	 
	  	  
	  	  
	  	  
	  	  
	/s/ Richard Coglon
    	.
	Fort Scott Energy Corporation, by its President. 	 

SCHEDULE A:

	  	Approximate 	  
	Prospect 	Acreage 	Fee 
	  	  	  
	A 	100,500 	$950,000 
	B 	71,370 	$600,000 
	C 	100,800 	$950,000 
	D 	51,990 	$500,000 
	E 	105,000 	$950,000 
	F 	57,070 	$500,000 

The red outline is the non-compete and non-disclosure area of
the current agreement. The black area is Eden Energy. The purple and blue are
other leaseholders. Cedar Strat owns some leases in this area that are not
plotted. The prospect areas are in green and boarded in black.Filed by Automated Filing Services Inc. (604) 609-0244 - Texola Energy Corporation - Exhibit 10.21

JOINT PARTICIPATION AGREEMENT 
FOR
MAVERICK SPRINGS
ELKO AND WHITE PINE COUNTIES, NEVADA

          This
  Joint Participation Agreement for the Maverick Springs Play, Elko and White
  Pine Counties, Nevada is entered into and made effective this 28th day
  of February 2006, by and between CHAMBERLAIN EXPLORATION DEVELOPMENT AND RESEARCH
  STRATIGRAPHIC CORPORATION, dba Cedar Strat Corporation, a Nevada corporation
  (hereinafter “Cedar Strat”), and TEXOLA ENERGY CORPORATION, a Nevada
  corporation having an office at Suite 206 – 475 Howe
  St, Vancouver BC. V6B 2B3 (hereinafter “Texola”). Cedar Strat
  and Texola may be referred to herein individually as a “Party” or
  collectively as the “Parties”.

R E C I T A L S 

          The
parties recite and declare as follows:

          A.      WHEREAS,
in conjunction with this Agreement, the parties have entered into an Agreement
of Nondisclosure and Non Competition, which is incorporated herein by
reference.

          B.      WHEREAS,
Cedar Strat has developed at great time and expense certain geological,
geophysical, technical, contractual and other data and information, including
well logs, interpretative maps, land maps, license from third parties and other
information related to the area included within the geographical boundaries of
the Confidential area, as set forth in Exhibit “A” and described here as
Township 24 North, Range 58 East through Township 28 North, Range 61 East,
Townships 26, 27, 28, North, Range 62 East, Townships 27, 28 North, Range 63
East, Township 28 North, Range 64 East and portions depicted of Township 24
North, Range 62 East, Township 25 North, Range 62 East, Township 26 North, Range
63 East, Township 26 North, Range 64 East, Township 27 North, Range 64 East, and
Township 28 North, Range 65 East, from the Mount Diablo Meridian, acreage lying
within Elko and White Pine Counties, Nevada. This area is the entire area of
Non-Compete and Non-Disclosure and the terms of such non-competition and
non-disclosure are more fully expressed in a separate document under that
title.

          C.      WHEREAS,
Cedar Strat has offered Texola the opportunity to participate in its Maverick
Springs Play (hereinafter “Play”), and Texola has agreed to accept such right to
participate in the Play in those areas set out in Schedule B and more
particularly referred to as the areas shown in prospects marked as “B” and “D”
and including all of T24N R58E and all of T24N R59E (“D Extension”)
(collectively referred to as the “Texola Prospect Area”).

          D.      WHEREAS,
Texola has agreed to participate in the Play in accordance with the terms set
forth in this Agreement.

          E.      WHEREAS,
Texola acknowledges that in agreeing to participate in the Play, it is not
acting as an employee or agent of Cedar Strat, but as a separate entity which
desires to participate with Cedar Strat in development of the Play.

          NOW,
THEREFORE, in consideration of the mutual covenants, conditions and promises
contained herein, and other good and valuable consideration the receipt and
sufficiency which are hereby acknowledged, the parties agree as follows:

          Section
1. Establishing an Area of Mutual Interest (AMI):

          Cedar
Strat and Texola agree to establish an Area of Mutual Interest (AMI) for the
Maverick Springs Play, as detailed in Exhibit “B” hereof. The area within the
“Black” boundary designated as areas “B” and “D” with background “Green” color
plus the entire areas of Townships 24 North Ranges 58 and 59 East (“D
Extension”) constitutes the AMI. The area of Non-Disclosure and Non-Compete is
the area that surrounds the AMI and lies within the “Red” boundaries.

          Section
2. Prospect Fee and Acquisition of Land/Leases:

          Cedar
Strat has identified certain Bureau of Land Management (BLM) leases critical to
the project, and will make recommendations to Texola for additions or deletions
to maximize the benefit of the acreage held, recognizing a need for protection
acreage in addition to prospect acreage. Cedar Stat is willing to represent
Texola at the BLM lease sales, if agreed to by the Parties.

          Texola
has agreed to pay to Cedar Strat the sum of $10.00 per acre as a “prospect fee”,
with a minimum total payment of $700,000 to a maximum payment of $1.1 million
(US dollars). The final prospect fee will be determined by the total acreage
Texola is successful in acquiring within areas “B”, “D” and “D Extension” as
depicted in Schedule B hereto, with such total acreage multiplied by $10.00US
per acre. 

          In
order to consummate this agreement, Texola will make a payment of $100,000US at
it’s signing. Texola shall make the balance of the minimum prospect fee payment
in the amount of $600,000US between April 4 and April 14, 2006. If the prospect
fee is calculated to exceed the minimum of $700,000US, then subsequent payments
will be made as follows: a) $100,000 within 30 days of delivery of a gravity
model coinciding with the structural cross section delivered as part of the base
prospect fee; b) an additional $200,000 within 30 days of delivery of a second
structural cross section with accompanying gravity model; and finally c)
$100,000 at the time of well permitting. These last three payments are all
dependent upon and adjusted according to the total amount of acreage acquired,
regardless of the source of acquisition, and upon reaching the total of 110,000
acres the prospect fee is capped at $1.1 million USD.

2

          Texola
has also agreed to use its reasonable best efforts to acquire the leases within
the AMI and will thereafter approach any private fee lease holders, if
applicable, in order to facilitate their exploration efforts. Texola will assume
the obligation to pay the annual rental on all acquired leases. This includes
any leases purchased, transferred or held by an agent for the benefit of the
play. Texola will either represent itself for acreage leasing or advance such
monies as may be required to fund the purchase of such leases by Cedar Strat.
Texola will bid as aggressively and for such amount as it deems necessary and
reasonable to secure the subject leases.

          It
is recognized that certain acreage may have been previously leased or owned by
outside third party entities, for which negotiations to control under this
agreement will be embarked upon by Texola. All acreage acquired within the AMI
will be entered into under the same terms of this Agreement. If acreage under
third party control must be acquired through terms that infringe upon this
Agreement, both parties will work in good faith to ensure that remaining
proceeds and benefits are proportionately divided in a manner similar to that
which is contemplated and outlined by this Agreement.

          Section
3. Ownership of data and use of data in Play:

          Cedar
Strat will retain ownership of all data whether currently owned, purchased,
licensed or generated by Cedar Strat, and as may be hereafter generated, or
acquired as part of the exploration programs set out in Section 4 hereof. Cedar
Strat will, at no additional cost to Texola, license its proprietary and other
relevant data to Texola, and any other Participant owning 25% or more working
interest, for the duration of the Play. Certain data that Cedar Strat licenses
from third parties will remain in the name of Cedar Strat but utilized for the
efficient development of the Play and used within the parameters of said
license. All data in the possession or control of Cedar Strat relevant to the
Play will be made available to Texola for study and analysis on a time is of the
essence basis. All maps, data and graphs generated or purchased will be used for
the efficient development of drill sites, the marketing of the Play when
appropriate, or drilling as mutually agreed upon.

          Cedar
Strat will keep newly developed data within the Maverick Springs AMI
confidential so far as to not bring competition focused toward Texola in a
manner to jeopardize the acquisition and development of the leases of the AMI.
There are many prospects bordering the Maverick Spring AMI for which the
neighboring prospect data will be used for the benefit of Maverick Spring and
visa versa. One such party known to Texola is Eden Energy for which data has
already been shared and the evaluation process for Texola has been done jointly.
Any such participant within the Non-Compete and Non-Disclosure area expressed in
Exhibit “A” will be under the same requirements not to compete with those other
clients. However, the data license will not be held exclusively by any one
client subject to agreements entered into before this date. Well study data and
data outside of the AMI which is used to develop the AMI will not be held as an
exclusive confidential license.

3

          Texola
may decide to shoot or acquire additional seismic data (other than the Exxon
Seismic data which is being sought by Cedar Strat) as part of the exploration
and development of this Play. Texola shall retain ownership of any such data
acquired. Texola will, at no additional cost to Cedar Strat et al., license its
proprietary seismic data to Cedar Strat on terms agreeable to both parties.

          The
ownership of data is more fully detailed as a part of Exhibit “C”.

          Section
4. Exploration of the Maverick Springs Play:

          The
relevant geologic data which Cedar Strat will develop, analyze and provide under
a license to Texola for this exploration effort will include but is not limited
to:

	- 	Geologic mapping of select outcrops in and
      bordering the AMI, 
	- 	Biostratigraphic sample collection, 
	- 	Paleontologist analysis, 
	- 	Well Studies, 10 count, 
	  	           
             Permit numbers: 102, 157, 367, 403, 427, 540,
      565, 615, 717, and 786, 
	- 	Aeromagnetic and Gravity Surveys, to the
      densities indicated in Section 6. 
	- 	Management of Prospect Development, 
	- 	Development of cross section, to follow a
      transect to be determined by Texola 
	- 	Map production relating to the Play and the
      Prospect Areas acquired by Texola 
	  	hereunder as agreed upon by the Parties, 
	- 	Attempts to acquire and process Exxon Mobil
      Seismic Data 
	  	           
             (Additional funding will be required for the
      acquisition of such data.) 

          The
cost of these exploration activities is covered by the prospect fee, unless
otherwise indicated.

          In
the event of additional expenses not reasonably contemplated in this Agreement,
Texola will use its best efforts to fund the purchase, license or expense, but
such decision will rest within the sole discretion of Texola. Such items of
additional expense may include, but are not limited to, the acquisition of
additional seismic data, status report trips, and licenses from third parties
for data to be held by Texola along with that held by Cedar Strat for
exploration activities. All such additional expenses shall be subject to the
prior written approval of Texola.

Section 5. Relinquishment of land/leases by Texola in the
Maverick Springs Play:

          Leases
or land will not be relinquished without the mutual consent of Cedar Strat and
Texola. In the event Texola decides to surrender or abandon the leases, or any
portion thereof, Texola shall first give Cedar Strat 90 day’s prior written
notice thereof. Cedar Strat shall thereafter have the option to require Texola
to reassign that portion thereof, which Texola wishes to surrender or abandon to
Cedar Strat. This abandonment will be without liens, claims, royalties, back-in
interests or any such encumbrances. Cedar Strat 

4

will receive the assignment without liability, other than
paying the future rentals. Cedar Strat will be allowed to seek other interested
parties to develop said area. Texola shall immediately turn over the data and
work product created by Cedar Strat or licensed by Cedar Strat in the
development of said leases.

Section 6. Development of the Maverick Springs Play:

          Texola
and Cedar Strat will determine the viability of the Maverick Springs Play for
hydrocarbons and the identification of prospective drilling targets. If Texola’s
ability to assess the viability of the Play is delayed due to delays outside of
its control, including any delays resulting from the timely delivery of any and
all relevant data by Cedar Strat, the election will be extended for such period
of time as the parties may agree, acting reasonably. Texola will develop the
play by the following:

          a)      Contracting
a rig in order to commence drilling within eighteen (18) months of Cedar Strat
completing the following:

	 	1. 	
      Outcrop mapping and a structural cross-section
      generation

	 	2. 	
      A map of Bouguer Gravity Data

	 	3. 	
      A Proprietary gravity survey over the Prospect

	 	4. 	
      Partner copies of the commercial magnetics and gravity
      (if it exists)

	 	5. 	
      Well studies, 10 count,

	 		
      Permit no’s: 102, 157, 367, 403, 427, 540, 565, 615, 717,
      and 786,

          For
greater certainty in respect of the above: as to gravity stations whether
proprietary or a secondary commercial license, Cedar Strat will provide an
average minimum of 250 to a maximum of 300 stations per township. The surface
mapping will also contain an average minimum of 250 to a maximum of 300
attitudes per township. Conodont Sampling and geologic assistance will be as
agreed as between Cedar Strat and Texola acting reasonably. The parties
acknowledge that Cedar Strat will take about 2 months to generate a map over
approximately 50,000 acres. The parties acknowledge that the gravity and
fieldwork would require that the field work would be done in the summer 2006.
Data would be delivered by Cedar Strat at the end of that field season. One
cross section for the AMI will be given approximately 6 months (or earlier)
after data acquisition during the field season. Should the prospect fee exceed
the $800,000 level a gravity model coinciding with the cross section will be
provided by Cedar Strat. Should the prospect fee exceed the $1 million level a
second cross section and corresponding gravity model will also be provided. All
data licenses will be non-exclusive. Data does not include a seismic program or
acquisition of commercial seismic. If the Exxon Seismic data is ever acquired
(and we continue our quest to obtain it) Cedar Strat will be entitled to ask for
an additional fee for the use of that data at a reasonable cost to each
participant. That amount is unknown at this point in time.

	 	b) 	
      (i) Within the first 18 months from delivery of the data
      set out above, Texola will drill one test well on the Texola Prospect
      area. The next well

5

will be drilled within the succeeding
12 month period from the date of completion or abandonment of the previous well,
with additional wells drilled in succeeding 12 month periods from completion or
abandonment of each previous well. There would be a single timeline for wells as
Texola has incorporated two or more prospect areas. Thus Texola will not have
two separate drilling commitments simultaneous with each other but one timeline
even though it has taken more than one prospect area. The wells will be drilled
to the shallower of the depth to test the subthrust Devonian Simonson or 18,000
feet. Rental payments on the initial acreage and subsequently acquired acreage
will be maintained by Texola during this development period. Default of payments
or drilling schedule by Texola will also trigger the Relinquishment of Leases
according to Section 5.

(ii). As to wells drilled, Texola will
earn the area that constitutes the radius from the Kelly Bushing equal to the
depth of the well. Thus, if for example Texola drills the first well within the
time allotted and not the second well, Cedar Strat may re-claim the area and if
another client of Cedar Strat’s finds hydrocarbons within the radius designated,
the Parties will receive any production within said radius. Any production
deeper or outside of that radius has no encumbrance. A well will be deem
complete if it is Plugged and Abandoned, the completion of production facilities
(on-site meaning tanks and not off-site pipelines etc.), temporary abandonment,
or suspension of operations. If a well misses a deadline but the permit to drill
has been applied for at least 90 days before the deadline and is awaiting
issuance or a rig is under contract but not arrived yet, then those items will
be deemed as progress toward drilling and forfeiture of the applicable leases
will not occur.

          c)      Texola
shall receive 80.0% Net Revenue Interest (NRI) in the identified prospects of
the Maverick Springs Play such that Cedar Strat retains a 5.5% ORRI with Mr.
Richard Coglon receiving 2.0% ORRI. Cedar Strat shall also receive a 15% carried
back-in working interest. The carried interest will become a full working
interest as outlined in Section 6 d.

          d)      Texola,
for their proportionate interest, will also receive a reimbursement for the
prospect fee, and all exploration and development funds (drilling to on-site
tanks) expense before Cedar Strat’s back-in interest becomes effective.

          Section
7. Term.

          The
term of this Joint Participation Agreement shall be ten (10) years from the date
the leases are obtained, or for as long as the two parties agree to hold the
leases, whichever period is greater. 

6

          Section
8. Notices.

          Notices
shall be given a) by personal delivery to the other Party, b) by facsimile, with
a copy sent by registered or certified mail, return receipt requested, or c) by
registered or certified mail, return receipt requested. All notices shall be
effective and deemed delivered a) if by personal delivery, on the date of
delivery if during business hours, otherwise the next business day, b) if by
facsimile, on the date the facsimile is received if received during business
hours, c) if solely by mail, upon receipt by the addressee. Any Party may from
time to time change its address hereunder by written notice to the other Party.
The Party’s addresses are as follows:

Texola Energy Corp.

206 – 475
  Howe St 

  Vancouver BC V6B 2B3

  Attn: Thornton Donaldson, President 

  Phone 604 488 0277 

  Fax 604 488 0239 

  Toll free 1 866 329 5488

Cedar Strat Corporation 
511 West
Robins St. 
Eureka, NV 89316 
Attn: Alan K. Chamberlain 
Phone:
775-237-5076 
Fax: 775-237-5063

          Section
9. Governing Law.

          This
Agreement shall be construed in accordance with, and governed by the substantive
and procedural laws of, the State of Nevada, without reference to principals
governing choice or conflict of laws. The parties agree that as a material part
of the consideration of the rights and obligations of the parties pursuant to
this Agreement and because Cedar Strat maintains its business office and records
in Clark County, Nevada, that in the event any litigation arises between the
parties or becomes necessary for Cedar Strat to commence a lawsuit, the
exclusive jurisdiction for all legal proceedings and lawsuits between the
parties is the Eighth Judicial District Court of the State of Nevada in and for
the County of Clark. The parties hereto further agree to submit to the
jurisdiction of said Eighth Judicial District Court and waive any rights they
may have to change, transfer, or in any manner remove the venue from said court
to any other jurisdiction or venue.

7

          Section
10. Representations and Warranties.

          By
execution of the Agreement each signatory represents and warrants that:

          (a)      The
Agreement is executed on behalf of an individual or a valid and existing legal
entity; 

          (b)      Such
individual or entity has the full right and authority to undertake any action
contemplated by the Agreement;

          (c)     
The execution of the Agreement has been duly and properly authorized by the
party on whose behalf said Agreement is executed in accordance with all
applicable laws, regulations, agreements or procedures governing the authority
of such person or entity to execute the Agreement on behalf of such parties;

          (d)      The
consents of all persons or entities whatsoever necessary to the execution of the
Agreement have been obtained; and

          (e)      The
parties shall indemnify each other, their successors and assigns against any and
all damages, including costs and reasonable attorney fees resulting from any
breach of any representation, warranty or agreement set forth herein.

          Section
11. Miscellaneous.

          
(a)      In the event of a dispute between the parties
arising under this Agreement, or in the even of an action brought to enforce the
terms of this Agreement, the prevailing parties shall be entitled to the
recovery of reasonable attorney fees and reasonably incurred costs and expenses
of litigation.

          (b)     
If a court of competent jurisdiction shall find any provision of this Agreement
unenforceable under Nevada law, such provisions shall be stricken and the
remainder of the Agreement shall remain in full force and effect. 

          (c)      It
is the intent of the parties hereto to use their respective reasonable best
efforts to prepare and circulate for signature a definitive form of agreement in
respect of the subject matter hereof. If for any reason such an agreement is not
circulated or agreed to then it is agreed that this Agreement is intended by the
parties to be the final expression of their agreement with respect to the
subject matter hereof, and is intended as the complete and exclusive statement
of the terms of the agreement between the parties. As such, this Agreement will
in such an instance constitutes the entire agreement between the parties,
whether oral or written, with respect to the subject matter hereof and may only
be modified by subsequent writing duly executed by both parties.

          (d)      The
singular shall be interpreted as the plural and vice versa, if such treatment is
necessary to interpret the Agreement in accordance with the manifest intention
of the 

8

parties hereto. Likewise, if either the feminine, masculine or
neutered gender should be one of the other genders, it shall be so treated.

          (e)     
Each party agrees to execute all documents necessary to complete the
transactions contemplated herein.

          (f)      This
agreement may be assigned, in whole or in part, by Texola to a corporate or
other entity with the approval of Cedar Strat, such approval not to be
unreasonably withheld. Any such assignments will be binding at law and at equity
upon the parties hereto as if the assigned party was a signatory to this
Agreement in the first instance.

          IN
WITNESS WHEREOF, the parties have executed this Agreement with the effective day
and year set forth in the first portion of this Agreement.

          DATED
this 28th day of February, 2006.

	Cedar Strat Corporation 	Texola Energy Corporation 
	 	 
	By: /s/
      Signed                                                                           
      	By:/s/ Thornton
      Donaldson                                                 
       
	 	 
	Name (printed):_______________________________	Name (printed):Thornton
      Donaldson                                
       
	 	 
	Its: ________________________________________	Its:              
      President 
	 	 
	Witnessed by:/s/ Signed                                                       
      	Witnessed by:/s/
      Signed                                                       
      
	 	 
	Name (printed): ______________________________	Name (printed):
    ______________________________

9

EXHIBIT "A" 
Joint Participation
Agreement
Between Cedar Strat Corporation and Texola Energy
Corporation 
Maverick Spring Play, Nevada, 
Area of Non-Disclosure and
Non-Competition,

 

Maverick Springs Play: Area of Non-Disclosure and
Non-Competition is depicted in the above map within the “Red” boundary and more
fully described as Township 24 North, Range 58 East through Township 28 North,
Range 61 East, Townships 26, 27, 28, North, Range 62 East, Townships 27, 28
North, Range 63 East, Township 28 North, Range 64 East and portions depicted of
Township 24 North, Range 62 East, Township 25 North, Range 62 East, Township 26
North, Range 63 East, Township 26 North, Range 64 East, Township 27 North, Range
64 East, and Township 28 North, Range 65 East, from the Mount Diablo Meridian,
acreage lying within Elko and White Pine Counties, Nevada.

10

EXHIBIT "B" 
Joint Participation
Agreement
Between Cedar Strat Corporation and Texola Energy
Corporation 
Maverick Spring Play, Nevada, 
Area of Mutual
Interest

 

The AMI lies within the black boundary with green fill color
designated as areas “B” and “D” plus acreage made a part thereof as “D
Extension”, more fully described as a) All of Township 24 North Range 58 East b)
All of Township 24 North Range 59 East, c) All of Township 25 North Range 59
East. d) All of Township 26 North Range 59 East. e) All of Township 27 North
Range 59 East. f) Township 25 North Range 58 East Sections 1,12,13, 24, 25, 36.
g) Township 25 North Range 60 East Sections 6, 7, 18, 19, 30, 31. h) Township 26
North Range 58 East Sections 1-4, 9-16, 21-28, 36. i) Township 27 North Range 58
East Sections 1-4, 9-16, 21-28, 33-36.

11

EXHIBIT "C" 
Joint Participation
Agreement
Between Cedar Strat Corporation and Texola Energy
Corporation 
Maverick Spring Play, Nevada, 
Ownership of Data

The ownership of data shall be delineated as follows:

		o 	
      Cedar Strat currently has and may generate new geologic
      mapping within the AMI. This data will be owned by Cedar Strat and
      licensed to Texola and other Participants with a 25% working interest in
      the play at no additional charge. The data will be kept confidential as
      outlined in Section 3. 

	 	  	
       

		o 	
      Cedar Strat currently has and will generate new well
      studies covered by the prospect fee. These may or may not be within the
      play AMI. To be able to make high quality balanced cross sections for
      exploration purposes, it is necessary to tie in geology beyond the
      boundaries of the AMI. Cedar Strat has committed to provide well studies
      as outlined in sections 4 and 6. The data will be owned by Cedar Strat and
      licensed at no extra cost to Texola and Participants of 25% WI or greater.
      This license is a non-exclusive license to Texola. Wells studies will be
      performed in such detail as available data is accessible. 

	 	  	
       

		o 	
      Cedar Strat will take samples for biostratigraphic
      verification and have them analyzed by a Paleontologist. This data will be
      owned by Cedar Strat and licensed to Texola and other participants of the
      play (of 25% WI or greater) at no additional charge. Samples in well
      studies will not be exclusive to Texola. 

	 	  	
       

		o 	
      Cedar Strat will and already has licensed all the
      commercial gravity and aeromagnetic data available relating to the play.
      The license will be and is in the name of Cedar Strat. This data extends
      far beyond the boundaries of the AMI to verify the readings within the AMI
      and make the highest possible knowledgeable judgments for the creation of
      balanced cross sections. The data will be used for the benefit of the Play
      at no additional charge. Commercial data is not exclusive to Texola. If
      Texola requests a license to the identical commercial data, Cedar Strat
      will arrange for that license from the third party licensor at a reduced
      fee to be paid by Texola. 

	 	  	
       

		o 	
      Cedar Strat will and already has contracted an entity to
      make a proprietary gravity survey to fill in the areas not covered by the
      commercial gravity data. Cedar Strat will own the data and license it at
      no charge to Texola et. al. Proprietary Gravity within the AMI will be
      held confidential under the terms of Section 3 and Cedar Strat’s Data Use
      License. This data will be integrated into the commercial data for a
      seamless look at the gravity map extending beyond the AMI. 

	 	  	
       

		o 	
      Cedar Strat is in the process of developing a unique
      opportunity with Exxon Mobil to acquire seismic data. This data will be
      licensed in the name of Cedar Strat. The 

12

			
      fee for this data, if used for this Play and desired by
      Texola, will be over and above the prospect fee amount. 

	 	  	
       

		o 	
      For the purpose of licensing the data, the term Texola
      and Participants will refer to an entity that has purchased at least 25%
      of the working interest of the Play. A lesser percentage working interest
      partner receives benefits from the data but not a license to or possession
      of the data. However, Texola and Cedar Strat will be the exception to this
      in that both Parties are a part of the exploration team developing and
      using the data. 

	 	  	
       

		o 	
      Texola will, at their discretion, shoot or acquire
      additional seismic data which is not part of the prospect fee. This will
      be owned by Texola and licensed to Cedar Strat. This will be used for the
      benefit of the play and the construction of balanced cross sections as it
      relates in harmony with the other data acquired by Cedar Strat. Cedar
      Strat will receive a license to this data at no additional cost.

ooOoo

13

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