Oil and Gas Lease Assignment Agreement between Fredco, LLC and Avro Energy, Inc.

Summary

Fredco, LLC agrees to transfer an 80% net revenue interest in certain oil, gas, and mineral leases (Muslow A, B, and C Leases and Caddo Levee Board Lease) to Avro Energy, Inc. for $70,000. Payment is split into two installments: $35,000 due by October 20, 2009 (non-refundable) and $35,000 due by November 30, 2009. If the full payment is not made by November 30, the agreement is canceled and rights revert to Fredco, LLC. The transfer is made without warranty, but Fredco affirms compliance with relevant regulations and no known issues.

EX-10.1 2 ex10-1.txt LETTER AGREEMENT Exhibit 10.1 Fredco, LLC. P.O. Box 365 Hosston, La. 71043 September 9, 2009 Avro Energy, Inc. 9 Church Lane Copthorne, West Sussex England RH310 3PT Dear Sir: Fredco, LLC. does hereby agree to convey, assign and deliver a 80% Net Revenue Interest in and to that certain oil, gas, and mineral leases referred to as the Muslow A, B, and C Lease; and all its rights, title and interest in the Caddo Levee Board Lease; to the base of the Paluxy Formation; together with all wells and equipment located thereon and pertaining thereto for the payment of Seventy Thousand ($70,000.00) Dollars payable as follows: $35,000.00 non-refundable payment due October 20, 2009, and the balance of $35,000.00 due November 30, 2009. Failure to pay as stated by November 30, 2009, shall ipso facto cancel this agreement and all rights revert back to Fredco, LLC. This sublease is made without warranty. Fredco, LLC has owned, possessed, and operated said lease peaceable and to its knowledge and belief no current problems exist as to the working interest ownership in this lease. Fredco, LLC does hereby state that it has been in compliance with the Louisiana Conservation Rules and Regulations, and to its knowledge and belief knows of no environmental issues pending or violations against said lease. Very truly yours, `Fred Sarkozi` Fred Sarkozi Manager, Fredco, LLC I hereby agree to the above terms and conditions in this letter of agreement dated September 9, 2009, signed this 9th day of September, 2009. `Donny Fitzgerald` Donny Fitzgerald Director, Avro Energy, Inc.