TORCHLIGHT ENERGY
Letter Agreement
Date: Mar. 30, 2015
To: Greg McCabe
From: John Brda, CEO Torchlight Energy
Re: Option to Extend
Dear Greg:
Let this letter serve as our understanding on the extension you granted us for the Orogrande drilling program on the Rich A-1 well. We have agreed to give you an option purchase 631,250 shares for a total purchase price of $225,000, in exchange for the ten day extension.
The option must be exercised no later than 30 days after receipt of the logs associated with the Rich A-1 well.
By signing below, you acknowledge that this is your understanding as well, and you agree to be bound by the terms herein.
/s/ GREG MCCABE
Greg McCabe
/s/ JOHN BRDA
John Brda, CEO
Torchlight Energy
TORCHLIGHT ENERGY, INC., 5700 Plano Parkway, Suite 3600 Plano, Texas 75093 ê 214-432-8002 214-432-8005 efax
www.torchlightenergy.com
