Extension of Farmout Agreement between Garner Investments, Inc. and Sharon K. Fowler

Summary

Garner Investments, Inc. and Sharon K. Fowler have agreed to extend the deadline for Garner to begin drilling an initial well under their original Farmout Agreement. The new deadline is December 31, 2010. All other terms and obligations from the original agreement remain unchanged. This extension allows Garner more time to fulfill its drilling commitment while maintaining the existing terms of their partnership.

EX-10.1 2 ex10.txt EXTENSION OF FARMOUT AGREEMENT This Extension of Farmout Agreement ("Extension") is entered into on this 13th day of October, 2009, by and between Garner Investments, Inc. ("Garner"), a Wyoming Corporation, and Sharon K. Fowler ("Farmor"). WHEREAS, on August 28, 2006, Garner and Farmor entered into a Farmout Agreement ("the Farmout Agreement") whereby Garner agreed to commit and drill wells in certain areas detailed in the Farmout Agreement, hereby attached as EXHIBIT A; WHEREAS, the Farmout Agreement provides for Garner to commence the drilling of an initial well by December 10, 2007 or as soon thereafter; and WHEREAS, both Garner and Farmer wish to extend the term of the Farmout Agreement. NOWTHEREFORE BE IT: (1) The Farmout Agreement of August 28, 2006 is hereby amended to extend the time required to commence the drilling of the initial well to December 31, 2010. (2) That all other rights, terms and obligations of the Farmout Agreement remain unchanged and in effect. Accepted and hereby agreed to this 13th day of October, 2009. GARNER INVESTMENTS, INC. SHARON K. FOWLER /s/ Roy Smith /s/ Sharon K Fowler - -------------------------------------------- ------------------- Roy Smith, President Sharon K. Fowler, Individually