Document:

SETTLEMENT AGREEMENT WITH INVENTOR OF ELECTROTELLURIC SURVEY

Cause Number 99CV0435

AMALGAMATED EXPLORATIONS, INC.                   IN THE DISTRICT COURT OF
and MSP TECHNOLOGIES, INC.
vs.                                              JEFFERSON COUNTY
JOHN R. JACKSON and
ANDRES M. ARISMENDI, JR.                         STATE OF COLORADO

SETTLEMENT AGREEMENT

The parties hereto agree that this lawsuit and all claims and controversies
between them, asserted or assertable in this case against all parties named
herein are hereby settled in accordance with the following terms of this
Settlement Agreement.

1.    The parties acknowledge that bona fide disputes and controversies exist
between them, both as to liability and the amount thereof, if any, and by
reason of such disputes and controversies, they desire to compromise and settle
all claims and causes of action of any kind whatsoever which the parties have or
may have arising out of the transaction or occurrence which is the subject of
this litigation. It is further understood and agreed that this is a compromise
of a disputed claim, and nothing contained herein shall be construed as an
admission of liability by any party, all such liability being expressly denied.

2. Each signatory hereto warrants and represents:

(a) he or she has authority to bind the parties for whom that signatory acts.

(b) the claims, suits, rights and/or interests which are the subject matter
hereto are owned by the party asserting same, have not been assigned,
transferred or sold, and are free of any encumbrance.

3. The consideration to be given for this agreement in full and final
settlement is as follows:

(a) $1,500,000.00 to be escrowed by Plaintiff, Amalgamated to bear interest at
5% per annum.

(b) Plaintiff, Amalgamated, pays Defendants  $20,000.00 per month commencing
August 15, 1999, and payable on the 15th of the month thereafter, each monthly
payment to be applied toward principal while interest accumulates on the
principal balance and interest until paid in full. Defendants will provide
written notice of non-payment by the 20th of any month of default, and
Amalgamated shall have 10 days after receipt of notice to cure default. Time is
of the essence and failure to cure the default shall result to Plaintiffs
retaining the stock, cancellation of the assignment, reversion of the patent to
Defendants and Plaintiffs will no longer have any rights to the technology.

(c) Defendants shall escrow 395,000 shares of Amalgamated stock to remain in
escrow until paid in full.

(d) Defendants shall assign the patent covered by the licensing agreement to
MSP Technologies to be held in escrow until paid in full. The said assignment
shall be to Amalgamated.

(e) Amalgamated grants Defendants a non-exclusive, royalty free license in the
patent covered by the licensing agreement, and Defendants shall be the only
ones entitled to use the technology under the non-exclusive license.

(f) While this agreement is in place, no royalty shall be due or payable to
Defendants.

(g) Defendant, Jackson, commits to upgrading the Electrotelluric system already
in place at Plaintiff's expense. The upgrade will involve on board
microprocessor capability and enhanced filtering. The instrument will have the
ability to record digitally the sweep for DSP (Digital Signal Processing).

(h) Patent herein means the patent and application in the attached appendix.

(i) Upon final payment, the stock and assignment held in escrow shall be
delivered to Amalgamated.

Taxable costs will be paid as follows: The parties bear their own costs.

4. Except for the agreements set forth herein, the parties agree to release,
discharge, and forever hold the other and their respective insurers harmless
from. ' any and all claims, demands or suits, known or unknown, fixed or
contingent, liquidated or unliquidated, whether or not asserted in the above
case, as of this date, arising from or related to the events and transactions
which are the subject matter of this case, including claims for attorney's
fees, indemnification, and costs. This mutual release runs to the benefit of all
attorneys, agents, employees, officers, parent corporations, subsidiary
corporations, directors, shareholders, partners, heirs, assigns, successors in
interest, and legal representatives of the parties hereto.

5. The parties will execute and file: Agreed Order dismissing all claims with
prejudice and/or a Take-Nothing Judgment as to all claims and/or any other
documents necessary to effectuate the terms of this agreement pursuant to law.

6. Within 14 days from the date hereof, counsel for Plaintiff shall deliver
the documents to be executed in connection with this settlement to counsel for
the other parties hereto. The parties and their counsel agree to cooperate with
each other in the drafting and execution of such additional documents as are
reasonably requested or required to implement the provisions and spirit of this
Settlement Agreement. Notwithstanding such additional documents, the parties
confirm that this is a written Settlement Agreement as contemplated by Section
154.071 of the Texas Civil Practice and Remedies Code, is a complete, valid and
binding contract, is intended to be an enforceable agreement as contemplated by
Rule 1 1, Texas Rules of Civil Procedure, and may be used as the basis for a
motion for judgment, motion for summary judgment, or motion to enforce with
each party waiving all rights to a jury trial.

7. THIS SETTLEMENT AGREEMENT IS NOT SUBJECT TO REVOCATION.

8. If one or more disputes arise with regard to the interpretation and/or
performance of this agreement or any of its provisions, the parties agree to
attempt resolution by phone conference with Gus J. Zgourides, the mediator who
facilitated this settlement.  If the parties cannot resolve their differences
by phone conference(s) with the mediator, then each agrees to schedule one day
of mediation with him as soon as possible to resolve the disputes and to share
the costs of same equally. If a party refuses to mediate, then that party may
not recover attorney's fees or costs in any litigation brought to construe or
enforce this agreement, and the prevailing party or parties shall be entitled
to recover reasonable attorney's fees and expenses, including the cost of the
mediation.

9. This agreement is made and performable in Harris County and shall be
construed in accordance with the laws of the State of Texas.

10. By signing this Settlement Agreement, each signatory agrees and
acknowledges that:  Although the mediator has provided a basic outline of the
agreement to the parties and their counsel as a courtesy to facilitate the final
resolution of this dispute, the parties and their counsel have thoroughly
reviewed it and have where necessary, modified it to conform to the requirements
of their agreement; Each signatory to the agreement has entered into it freely
and without duress after having consulted with attorneys of their choice; Each
party has been advised by the mediator that the mediator is not the attorney
for any party and that each party should have this agreement reviewed by that
party's attorney prior to executing it; Each signatory agrees to release,
indemnify and hold the mediator harmless from any and all claims, demands, or
suits arising directly or indirectly from the mediation and drafting of this
settlement agreement.

Signed this date, July 9, 1999.

Plaintiffs:                              Defendants:

/S/                                      /S/
------------------------------           ----------------------------
Christian Murer, CEO                     John R. Jackson
Amalgamated Explorations, Inc.

/S/                                      /S/
------------------------------           ----------------------------
Christian Murer on behalf of             Andres M. Arismendi, Jr.
MSP Technologies, Inc.

APPENDIX
U.S. Patents
------------
U.S. Patent No. 5,777,478

U.S. Patent Applications
------------------------
Application No. 09/109,853, filed July 2, 1998

Foreign Applications

Australia:      Application No. 40439/97
Brazil          Application based on PCT/US97/12882
China           Application No. 97198316.X
European        Application No. 97938018.5
Japan           Application No. 511643/98
Mexico          Application No. 9901952
New Zealand     Application No. 334267
Norway          Application No. 19990932
Russia          Application No. 99106410
S. Korea        Application No. 10-1999-7001555

DISTRICT COURT FOR JEFFERSON COUNTY, STATE OF COLORADO

Case No. 99 CV 0435

STIPULATION FOR DISMISSAL WITH PREJUDICE

AMALGAMATED EXPLORATIONS, INC., a Colorado corporation in good standing, and
MSP
TECHNOLOGIES, INC., a Texas corporation authorized to conduct business in
Colorado, Plaintiffs,

V.

JOHN R. JACKSON and ANDRES M. ARISMENDI, JR.

Defendants.

Pursuant to C.R.C.P. 41(a)(1) and in accordance with the Settlement Agreement
dated July 9, 1999 between and among the parties, Plaintiffs, Amalgamated
Explorations, Inc. and MSP Technologies, Inc. and Defendants John R. Jackson
and
Andres M. Arismendi, Jr., by and through their respective attorneys, hereby
stipulate to the dismissal with prejudice of all claims asserted in this
action.
Each party shall bear its own fees and costs.

Bond & Morris,P.C.                      KELLER WAHLBERG & MORRATO, P.C.

By: /S/                                 By: /S/
    -------------------------------         ----------------------------
    Daniel F. Warden, Esq. #13514           James J. Morrato, Esq. #939
    303 E. 17th Avenue, Suite #888          1050 171h Street, #1440
    Denver, Colorado 80203                  Denver, CO 80265-1401
    Telephone: (303) 837-9222               Telephone: (303) 571-5302
    Attorneys for Plaintiffs                Attorneys for Defendants

ESCROW INSTRUCTIONS

September 17, 1999

To:    Escrow Document Services
       for Lawyers, Inc.

Re: Escrow Account No. 99-120

Gentlemen:

Amalgamated Explorations, Inc. and MSP Technologies, Inc. (collectively, "First
Party") and John R. Jackson ("Jackson") and Andres M, Arismendi, Jr.
("Arismendi"), or, Jackson and Arismendi being (collectively referred to as
"Second Party") hereby requests that Escrow Document Services for Lawyers,
Inc., a Colorado corporation ("EDSL") act as Escrow Agent on the following terms
and conditions:

INSTRUCTIONS

First Party and Second Party are to deliver the documents identified on
Schedule "A" to EDSL.

EDSL is directed to hold the documents identified on Schedule "A" in escrow and
deliver them in accordance with the instructions on Schedule "B.

GENERAL TERMS AND CONDITIONS

These Escrow Instructions are not binding upon EDSL unless and until they have
been accepted in writing in the space provided for such purpose below.

EDSL is not a party and is not bound by any other agreement which may be
evidenced by outside events, or which arises out of these Escrow Instructions,

except as specifically set forth herein. EDSL looks solely to these Escrow
Instructions for its duties and responsibilities.

EDSL is to act under these Escrow Instructions as a depositary only and is not
responsible for or liable in any manner whatever for the sufficiency,
correctness, genuineness, or validity of any instrument deposited with it, or
for the form or execution of such instrument, or for the identity, authority,
or rights of any person executing or depositing it.

EDSL acts as a document holding and disbursing agent only. EDSL shall not be
required to file Form 1099's on behalf of the par-ties, and the parties agree
to file all required IRS Form 1099's.

EDSL shall not be required to take notice of any default or to take any action
with respect to such default involving any expense or liability, unless notice
in writing of such default is given to it, and unless it is indemnified in a
manner satisfactory to it against such expense or liability.

EDSL shall be protected in acting upon any written notice, request, waiver,
consent, receipt, or other paper or document signed by the proper party or
parties.

EDSL may seek advice from and employ legal counsel in the event of any lawsuit,
dispute, or question as to the construction of any of the provisions of these
Escrow Instructions, or EDSL's duties under these Escrow Instructions. EDSL
shall incur no liability and shall be fully protected when it acts in
accordance with the opinion and instructions of counsel. The parties hereto
agree to reimburse EDSL its reasonable attorneys' fees if counsel is so
employed.

If there is any disagreement between any of the parties to these Escrow
Instructions, or between them or any of them and any other person, that results
in adverse claims and demands being made on EDSL in connection with or for any
property involved in or affected by these Escrow Instructions, EDSL shall be
entitled, at its option, to refuse to comply with any claims or demands on it
as long as such disagreement shall continue. In so refusing, EDSL may make no
delivery or other disposition of any documents involved in or affected by these
Escrow Instructions. EDSL shall not be or become liable in any way or to any
person for its failure or refusal to comply with conflicting or adverse
demands.

EDSL shall be entitled to continue so to refrain from acting and so to refuse
to act until (1) the right of adverse claimants shall have been finally settled
by arbitration or adjudicated in a court assuming and having jurisdiction of the
property involved in or affected by these Escrow Instructions, or (2) all
differences shall have been adjusted by agreement, and (3) after such
resolution EDSL has been notified in writing signed by all interested persons.
EDSL shall have a right to file suit in the event settlement of any dispute
appears to be impossible, and, in such event, each party consents to jurisdic-
tion in the Denver District Court, State of Colorado and the parties hereto
agree to pay reasonable attorneys' fees and costs incurred. The laws of Colorado
shall apply to any questions of interpretation under these Escrow Instructions.

These Escrow Instructions may be execute , d in one or more counterparts, each
of which shall be an original, but all of which shall constitute one and the
same instrument.

NOTICES

All notices and other communications to any party shall be sufficiently given
if (i) delivered in person, (ii) sent by certified mail, return receipt
requested, or (iii) sent by courier. All notices shall be effective and shall be
deemed delivered (i) if by personal delivery, on the date of delivery, and (ii)
if by mail or courier, on the first day after mailing or delivery to the
courier. Until a change of address is communicated as indicated above, all
notices shall be addressed as follows:

EDSL: [Items by courier or items requiring signature upon receipt]

Escrow Document Services
c/o Rodney D. Knutson
1625 Broadway Suite 1600
Denver, CO 80202

EDSL: [Routine Mail]
Escrow Document Services
640 S. Garfield Street
Denver, CO 80209

First Party:                                 Second Party:
    Amalgamated Explorations, Inc. and           John R. Jackson and
    MSP Technologies, Inc.                       Andres M. Arismendi, Jr.
    1645 Court Place, Suite 201                  c/o Payne, Lundeen,
    Denver, Colorado 80202                       D'Ambrosio & Arismendi, LLP
    Attn: Christian F. Murer                     1700 W. Loop South, Suite 1230
    Phone:    303-629-5115                       Houston, Texas 77027
    Facsimile: 303-893-3289                      Phone:    713-940-8008
                                                 Facsimile: 713-840-8088

    with copy to:                                with copy to:

    Daniel F. Warden                             Alton W. Payne
    303 E. 17th Avenue, Suite #888               Payne, Lundeen,
    Denver, Colorado 80203-1264                  D'Ambrosio & Arismendi, LLP
    Phone:    303-837-9222                       1700 W. Loop South, Suite 1230
    Facsimile: 303-837-0849                      Houston, Texas 77027
                                                 Phone:     713-840-8008
                                                 Facsimile: 713-840-8088

INVESTMENT INSTRUCTIONS

EDSL shall invest funds delivered to EDSL only in accordance with the written
instructions of the parties, if any, to be set out in a separate Amendment to
this Escrow Agreement.

FEES AND DISBURSEMENTS

EDSL shall be entitled to receive the following fees:

       Set-up fee                       $700
         (first two parties)
       Set-up fee Fee                   $100
         (for each additional party)
       Amendment Fee                    $250
       Annual Fee                       $250
       Account Fee                      $100
       Transaction fees                 $ 25

An additional closing fee of $100/hr will be charged for (1) closings after
normal business hours, (2) closings outside the business offices of EDSL and
its officers or loan closers, or (3) for additional services beyond normal
escrow services, such as courier deliveries or additional services may be
approved by the parties.

A party is one or more persons, associations, or corporation having identical
interests in the escrow. For example, any number of persons who are joint
payees or to whom documents are to be distributed jointly constitute a "party."
If parties are added after the escrow has been set up, the additional set-up fee
will be applicable.

The amendment fee applies to each amendment of the escrow instructions. If the
amendment adds parties, the additional set-up fee will be applicable.

The account fee applies to the opening of a certificate of deposit, money
market fund, or other investment account, or the investment of funds pursuant to
these Escrow Instructions or the instructions of the parties.

A transaction is (1) the deposit in escrow of a document after the escrow has
been set up, and (2) the receipt of funds by EDSL in excess of one receipt per
year, (3) the "roll-over" of funds held in a certificate of deposit, money
market fund, or other investment account or investment, (4) the closing of a
certificate of deposit, money market fund, or other investment account, (5) the
disbursement of funds by EDSL in excess of one disbursement per year (each
check or other instrument being a separate disbursement), (6) the recording or
filing of a document, or (7) the giving of any notice required or permitted by
these Escrow Instructions or an Escrow Agreement.

These fees are subject to reasonable adjustments from time to time commensurate
with (a) the duties and responsibilities per-formed by EDSL, as they may
increase or decrease, (b) changing economic conditions, and (c) the schedule of
compensation established. from time to time by EDSL for the administration of
escrows of similar character. EDSL will not institute any such adjustments
without first giving notice to the appropriate interested party or parties at
least thirty (30) days in advance of the date of the proposed change.

The parties shall reimburse EDSL for all fees, expenses, and charges incurred
by EDSL -in -connection with the performance of any duty under these Escrow
Instructions, including recording fees, telephone, postage, FAX, or courier
charges, and commissions, fees, and charges incurred by EDSL in investing
funds.

EDSL shall send the bills for fees, expenses and charges as follows:

1/2 First Party, 1/2 Second Party

Regardless of any agreement between the parties, however, First Party and
Second Party shall be jointly and severally liable for EDSL's fees, and EDSL
shall be entitled to collect its fees out of funds held for disbursement. EDSL
shall not be required to deliver any documents held by it until its fees have
been paid.

This instrument shall be binding upon the parties hereto, their heirs,
representatives, successors, and assigns.

Amalgamated Explorations, Inc.

First Party

By: /S/
    --------------------------
Name:        Christian F. Murer
Title:       Chief Executive Officer
Telephone:   (303) 629-5115
FAX:         (303) 893-3289

Tax I.D. # 86-0551529

MSP Technologies, Inc.

By: /S/
    --------------------------
Name:        Christian F. Murer
Title:       Chief Executive Officer
Telephone:   (303) 629-5115
FAX:         (303) 893-3299
Tax I.D. #            - 0 C;11 7 AT%

Second Party

By: /S/
    --------------------------
Name:        John R. Jackson
Telephone:  (713) 840-8008
FAX:        (713) 840-8088
Tax I.D. #  ###-##-####

By: /S/
    --------------------------
Name:        Andres M. Arismendi, Jr.
Telephone:  (713) 840-8008
FAX:        (713) 840-8088
Tax I.D. #  ###-##-####

ACCEPTED FOR ENTRY in the records of Escrow Document Set-vices for Lawyers,
Inc., Denver, Colorado, this 2nd "May of October 1999.

Escrow Document Services for Lawyers, Inc.

By: /S/
    --------------------------
Rodney D. Knutson
President

SCHEDULE A T0
ESCROW INSTRUCTIONS

First Party delivers the following document(s) to EDSL

(1) Copy of July 9, 1999, Settlement Agreement to Case Number 99CV0435
filed in Jefferson County, Colorado that explains, generally, the purpose for
the escrow,

(2) Monthly, a copy of a $15,000 cashiers or bank check to Jackson, and a
$5,000 cashiers or bank check to Arismendi, both of which checks shall be from
a U.S. national bank.

(3) A copy of the Motion to Dismiss with Prejudice, Case Number 99 CV
0435, filed in Jefferson County, Colorado, bearing the court's filing date
stamp; and

(4) A copy of the order signed by Jefferson County District Judge James D.
Zimmerman, Division 4, dismissing such case, with prejudice.

Second Party delivers the following document(s) to EDSL

(1) One or more Stock Certificates for common stock of Amalgamated
Explorations, Inc., totaling 395,000 shares, endorsed for transfer to
Amalgamated Explorations, Inc., signatures guaranteed.

(2) The original U.S. Patent 5,777,478.
(3) The Assignment of the following described "Patent" to Amalgamated
Explorations, Inc., duly executed with signatures witnessed by two witnesses.

U.S. Patents
------------
U.S. Patent No. 5,777.478
U.S, Patent Applications
Application No. 09/109,853, filed July 2, 1999
Foreign Applications

Including, but not limited to:

Australia:    Application No. 40439/97
Brazil        Application based on PCT/US97/12882
Canada        Application No. 2264190
China         Application No. 97199316.X
European      Application No. 97938018.5
Japan         Application No. 5 11643/98
Mexico        Application No. 9901952
New Zealand   Application No. 334267
Norway        Application No. 1999 0932
Russia        Application No. 99016410
S. Korea      Application No. 10-1999-7001555

SCHEDULE B
TO
ESCROW INSTRUCTIONS

EDSL is directed to hold the documents identified on Schedule A and deliver
them in accordance with the following instructions

(1) First Party has delivered a $20,000 bank check to Escrow Agent. When First
Party (Amalgamated) signs and returns this Escrow Agreement to Escrow Agent,
this first monthly payment shall be delivered to Second Party promptly after
First Party's attorney completes the review in paragraph (2) below.

(2) Upon receipt of the documents from the Second Party identified in Schedule
A by EDSL, the attorneys for First Party will review the original documents at
the offices of EDSL as to form and sufficiency. No copies of such documents may
be made, obtained or retained by First Party or its attorneys.

(3) Thereafter, EDSL shall hold the documents identified in Schedule A
delivered to EDSL by the Second Party so long as EDSL receives (i) a copy of the
$15,000 and $5,000 checks for the respective month from the First Party as
required of the First Party in Schedule A accompanied by a letter from
Amalgamated Explorations, Inc. or its attorney certifying the monthly checks
were transmitted to the Second Party in accordance with the Settlement Agreement
and (ii) a letter from the Second Party certifying that the monthly checks in
question were received and were successfully cashed and not returned as being
insufficient funds. If either of these letters are not received within sixty
(60) days of the date of the check, EDSL shall conclude the checks were timely
sent and duly honored when presented for payment.

Schedule C is the amortization schedule utilized herein, with the payments due
on the 15th of the respective month commencing with payment number 1
corresponding to the payment to be made for August 15, 1999. At any time during
the term of the Escrow Agreement, Amalgamated has the option to pay in a lump
sum the then outstanding principle identified in Schedule C without having to
pay the remaining interest identified in Schedule C. In such an event, (i) and
(ii) would be modified to reflect checks in the amount of 75% of the
outstanding principle made to Jackson and 25% of the outstanding principle made
to Arismendi.

(4) If and when Amalgamated Explorations, Inc. pays the sum of $1,500,000 plus
interest as required in the Settlement Agreement pursuant to Schedule C
attached hereto with all the requirements of Instruction 3 above being
satisfied, EDSL shall release the documents the Second Party placed into escrow
to the First Party, and this Escrow Agreement shall terminate.

(5) If and when Amalgamated Explorations, Inc. fails to pay or refuses to pay
the monthly funds or final payments to the Second Party according to Schedule
C, and if Amalgamated Explorations, Inc. admits such failure to EDSL in writing,
EDSL shall deliver the Stock to Amalgamated Explorations, Inc. and EDSL shall
deliver the Assignment, the Patent and any other documents held by EDSL to
Arismendi for the Second Party, and this Escrow Agreement shall be terminated.

(6) If and when Amalgamated Explorations, Inc. fails to pay or refuses to pay
the monthly funds or final payments to the Second Party according to Schedule
C, and Amalgamated Explorations, Inc. (i) fails to give such notice to EDSL, or
(ii) fails to certify the funds were paid as required by Instruction 2 above,
or (iii) fails to deliver a copy of the checks as required by Instruction 2
above, or (iv) Second Party advises EDSL in writing that one of the monthly
checks sent to the Second Party is returned for insufficient funds, then EDSL
shall give a ten (10) day written notice to the First and Second Parties requir-
ing that Amalgamated Explorations, Inc. pay the amount due within ten days. If
payment is not then made and received by the Second Party within the ten (10)
day period, then after such ten (10) day period EDSL shall deliver the Stock to
Amalgamated Explorations, Inc. and EDSL shall deliver the Assignment, the
Patent, and any other documents held by EDSL to Arismendi for the Second Party,
and this Escrow Agreement shall be terminated.

(Rest of page left blank.)

SCHEDULE C
TO
ESCROW INSTRUCTIONS

Principal Sum    $1,500,00.00
interest          5 % per annum
Monthly Payment    $20,000.00
Final Payment       $2,267.64

                                   Cumulative                   Cumulative
Month                 Interest     Interest       Principal     Principal
No.                   Paid         Paid           Paid          Paid
----  ------------    ---------    ----------    ----------     ----------
1.   $1,500,000.00    $6,250.00    $  6,250.00    $13,750.00    $ 13,750.00
2    $1,486,250.00    $6,192.71    $ 12,442.71    $13,807.29    $ 27,557.29
3    $1,472,442.71    $6,135.18    $ 18,577.89    $13,864.82    $ 41,422.11
4    $1,458,577.89    $6,077.41    $ 24,655.29    $13,922.59    $ 55,344.71
5    $1,444,655.29    $6,019.40    $ 30,674.69    $13,980.60    $ 69,325.31
6    $1,430,674.69    $5,961.14    $ 36,635.84    $14,038.86    $ 83,364.16
7    $1,416,635.84    $5,902.65    $ 42,538.49    $14,097.35    $ 97,461.51
8    $1,402,538.49    $5,843.91    $ 48,382.40    $14,156.09    $111,617.60
9    $1,388,382.40    $5,784.93    $ 54,167.32    $14,215.07    $125,832.68
10   $1,374,167.32    $5,725.70    $ 59,893.02    $14,274.30    $140,106.98
11   $1,359,891.02    $5,666.22    $ 65,559.24    $14,333.78    $754,440.76
12   $1,345,559.24    $5,606.50    $ 71,165.74    $14,393.50    $168,834.26
13   $1,331,165.74    $5,546.52    $ 76,712.26    $14,453.48    $183,287.74
14   $1,316,712.26    $5,496.30    $ 82,198.56    $14,513.70    $197,801.44
15   $1,302,199.56    $5,425.83    $ 87,624.39    $14,574.17    $212,375.61
16   $1,287,624.39    $5,365.10    $ 92,989.49    $14,634.90    $227,010-51
17   $1,272,989.49    $5,304.12    $ 98,293.61    $14,695.88    $241,706.39
18   $1,258,293.61    $5,242.89    $103,536.50    $14,757.11    $256,463.50
19   $1,243,536.50    $5,181.40    $108,717.91    $14,818.60    $271,282.09
20   $1,228,717.91    $5,119.66    $113,937.56    $14,880.34    $286,162.44
21   $1,213,837.56    $5,057.66    $118,895.22    $14,942.34    $301,104.78
22   $1,198,895.22    $4,995.40    $123,890.62    $15,004.60    $316,109.38
23   $1,183,890.62    $4,932.88    $128,823.49    $15,067.12    $331,176.51
24   $1,168,823.49    $4,870.10    $133,693.59    $15,129.90    $346,306.41
25   $1,153,693.59    $4,807.06    $138,500.65    $15,192.94    $361,499.35
26   $1,138,500.65    $4,743.75    $143,244.40    $15,256.25    $376,755.60
27   $1,123,244.40    $4,680.19    $147,924.59    $15,319.81    $392,075.41
28   $1,107,924.59    $4,616.35    $152,543.94    $15,383.65    $407,459.06
29   $1,092,540.94    $4,552.25    $157,093.19    $15,447.75    $422,906.81
30   $1,077,093.19    $4,487.89    $161,581.08    $15,512.11    $438,418.92
31   $1,061,581.08    $4,423.25    $166,004.34    $15,576.75    $453,995.66
32   $1,046,004.34    $4,358.35    $170,362.69    $15,641.65    $469,637.31
33   $1,030,362.69    $4,293-18    $174,655.87    $15,706.82    $485,344.13
34   $1,014,655.87    $4,227.73    $178,883.60    $15,772.27    $501,116.40
35   $  998,883.60    $4,162.01    $183,045.61    $15,837.99    $516,954.39
36   $  983,045.61    $4,096.02    $187,141.64    $15,903.98    $532,858.36
37   $  967,141.64    $4,029.76    $191,171.39    $15,970.24    $548,828.61
38   $  951,171.38    $3,963.21    $195,134.61    $16,036.79    $564,865.39
39   $  935,134.61    $3,896.39    $199,031.00    $16,103.61    $580,969.00
40   $  929,031.00    $3,829.30    $202,860.30    $16,170.10    $597,139.70
41   $  902,860.30    $3,761.92    $206,622.22    $16,238.08    $613,377.78
42   $  886,622.22    $3,694.26    $210,318.47    $16,305.74    $629,683.53
43   $  870,316.47    $3,626.32    $213,942.79    $16,373.68    $646,057.21
44   $  853,942.79    $3,558-09    $217,500.89    $16,441.91    $662,499.11

SCHEDULE C (continued)

                                   Cumulative                   Cumulative
Month                 Interest     Interest       Principal     Principal
No.                   Paid         Paid           Paid          Paid
----  ------------    ---------    ----------    ----------     ----------

45   $  837,500.89    $3,489.59    $220,990.48    $16,510.41    $  679,009.52
46   $  820,990.48    $3,420.79    $224,411.27    $16,579.21    $  695,588.73
47   $  804,411.27    $3,351.71    $227,762.98    $16,648.29    $  712,237.02
48   $  787,762.98    $3,282.35    $231,045.33    $16,717.65    $  728,954.67
49   $  771,045.33    $3,212.69    $234,258.02    $16,787.31    $  745,741.98
50   $  754,258.02    $3,142.74    $237,400.75    $16,857.26    $  762,599.24
51   $  737,400.76    $3,072.50    $240,473.26    $16,927.50    $  779,526.74
52   $  720,473.26    $3,001.97    $243,475.23    $16,998.03    $  796,524.77
53   $  703,475.23    $2,931.15    $246,406.38    $17,068.85    $  813,593.62
54   $  686,406.38    $2,860.03    $249,266.41    $17,139.97    $  830,733.59
55   $  669,266.41    $2,788.61    $252,055.02    $17,211.39    $  847,944.98
56   $  653,055.02    $2,716.90    $254,771.91    $17,283.10    $  865,228.09
57   $  634,771.91    $2,644.88    $257,416.80    $17,355-12    $  882,583.20
58   $  617,416.80    $2,572.57    $259,989.37    $17,427.43    $  900,010.63
59   $  599,983.37    $2,499.96    $262,489.32    $17,500.04    $  917,510.68
60   $  582,489.32    $2,427.04    $264,916.36    $17,572.96    $  935,083.64
61   $  564,916.36    $2,353.82    $267,270.18    $17,646.18    $  932,729.82
62   $  547,270.18    $2,280.29    $269,550.47    $17,719.71    $  970,449.53
63   $  529,550.47    $2,206.46    $271,756.93    $17,793.54    $  988,243.07
64   $  511,756.93    $2,132.32    $273,889.25    $17,867.68    $1,006,110.75
65   $  493,889.25    $2,057.87    $275,947.12    $17,942.13    $1,024,052.88
66   $  475,947.12    $1,983.11    $277,930.24    $18,016.89    $1,042,069.76
67   $  457,930.24    $1,908.04    $279,838.28    $18,091.96    $1,060,161.72
68   $  439,838.28    $1,832.66    $281,670.94    $18,157.34    $1,078,329.06
69   $  421,670.94    $1,756.96    $283,427.90    $18,243.04    $1,096,572.10
70   $  403,427.90    $1,680.95    $285,108.85    $18,319.05    $1,114,891.15
71   $  385,108.85    $1,604.62    $286,713.47    $18,395.38    $1,113,286.53
72   $  366,713.47    $1,527.97    $288,241.44    $18,472.03    $1,151,758.56
73   $  348,241.44    $1,451.01    $289,692.45    $18,548.99    $1,170,305.59
74   $  329,692.45    $1,373.72    $291,066.17    $18,626.23    $1,188,933.83
75   $  311,066.17    $1,296.11    $292,362.28    $18,703.89    $1,207,637.72
76   $  292,362,28    $1,218.18    $293,580.45    $18,781.82    $1,226,419.55
77   $  273,580.45    $1,139.92    $294,720.37    $18,850.08    $1,245,279.63
78   $  254,720.37    $1,061.33    $295,781.71    $18,938.67    $1,264,218.29
79   $  235,781.71    $  982.42    $296,764.13    $19,017.58    $1,283,235.87
80   $  216,764.13    $  903.18    $297,667.32    $19,096.82    $1,302,332.68
8 1  $  197,667.32    $  823.61    $298,490.93    $19,176.39    $1,321,509.07
82   $  178,490.93    $  743.71    $299,234.64    $19,256.29    $1,340,765.36
83   $  159,234.64    $  663.48    $299,898.12    $19,333.52    $1,360,101.88
84   $  139,898.12,   $  582.91    $300,481.03    $19,417.09    $1,379,518.97
85   $  120,481.03    $  502.00    $300,983.03    $19,498.00    $1,399,016.97
86   $  100,983.03    $  420.75    $301,403.79    $19,579.24    $1,418,596.21
87   $   81,403.79    $  339.18    $301,742.98    $19,660.82    $1,438,257.02
88   $   61,742.98    $  257.26    $302,000.24    $19,742.74    $1,457,999.76
89   $   42,000.24    $  175.00    $302,175.24    $19,838.00    $1,477,824.76
90   $   22,175.24    $   92.40    $302,267.64    $19,907.60    $1,497,732.36
91   $    2,267.64LOAN AGREEMENT

This Agreement is made this 15th day of February, 1999 by and between John H.
Resing, Lender's Agent representing Crest Services Ltd. and John H. Resing,
Trustee FBO John H. Resing Retirement Trust (the "Lender") and Amalgamated
Explorations, Inc. (the "Company") for the purpose of setting forth the terms
and conditions upon which the Lender will advance funds to the Company.

NOW THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS:

I . The Lender agrees to advance up to $450,000 to the Company in accordance
with the form of Promissory Note attached as Exhibit A.

2. Any advances against the Note will be secured by all assets of the Company
pursuant to the form of Security Agreement attached as Exhibit B. A UCC
financing statement pertaining to the Company's personal property will be filed
in Colorado, Wyoming, Nevada and Montana. Mortgages and/or deeds of trust
pertaining to the Company's oil, gas and mining properties will be filed in
such states with the applicable county clerks and recorders.

3. The Company agrees to issue to the Lender a warrant, in the form attached as
Exhibit C, to purchase one share of the Company's common stock for each two
dollars of principal advanced. The warrant will have an initial exercise price
of $0.50 per share and will be exercisable at any time prior to December 31,
2000.

4. The Company agrees to appoint John H. Resing as Chairman of the Board of
Directors of the Company and MSP Technologies. The compensation of $8,000 per
month payable to Milestone Capital as contemplated in the term sheet for the
$4.5 million equity financing between the Company and Milestone Capital will be
deferred pending the closing of the equity capital financing. Expenses
accumulated to date by Resing and Seed & Berry (approximately $30,000) will be
paid from the first advance against the Note.

5, The Company and MSP waive the conflicts inherent in Resing's role and
transactions in the future contemplated by the term sheet and the corporate
opportunity doctrine applied to any of Resing's business opportunities,
disclosed or undisclosed, that may have arisen prior to February 16, 1999 and
his duty to represent the lenders in this transaction.

The addresses of the parties are:

John H. Resing
P.O. Box 1317
Bellevue, WA 98009
V: (425) 454 7992
F: (425) 454 4073

Crest Services, Ltd.
c/o Jim Franklin
5256 Greenwich Dr. Suite 250
San Diego CA 92122
V: (619) 552 0295
F: (619) 552 0173

AGREED TO AND ACCEPTED

JOHN H. RESING, LENDER'S AGENT
REPRESENTING CREST SERVICE, LTD.

By: /S/
--------------------------------
JOHN H. RESING

JOHN H. RESING, FBO JOHN H. RESING
RETIREMENT TRUST

By: /S/
--------------------------------
JOHN H. RESING

AMALGAMATED EXPLORATIONS, INC.

By: /S/
--------------------------------
CHRISTIAN MURER, PRESIDENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}]]