minnow involved with 3rd biggest oil co in wor, page-6

They look to be getting everything in place, lets see some deals soon boys!!

27 January 2010
Company Announcements Office
ASX Limited
20 Bridge Street
Sydney NSW 2000
ARTURUS & EXTEX TO FINALISE U.S. STRATEGIC ALLIANCE
Arturus Capital Limited (Arturus Capital) advises that its U.S. subsidiary, Arturus Energy,
LLC (Arturus Energy), has today agreed to finalise a strategic alliance with Extex Operating
Company (Extex) - a highly experienced participant in the U.S. oil and gas industry - and Mr
Wallis Marsh.
Mr Marsh is the founder and CEO of the Extex Companies, an independent energy group
engaged in the acquisition, production, exploration, development and operation of oil and gas
interests in southern U.S.A. Previously, Mr Marsh worked as a production engineer, crude oil
analyst, facilities engineer and field production engineer for a number of U.S. oil and gas
companies. Mr Marsh graduated from the University of Oklahoma in 1990 with a degree in
petroleum engineering.
Arturus Energy, Extex and Mr Marsh have entered into a non-binding letter agreement under
which they have agreed to prepare and finalise consulting and management services
agreements for the provision of consulting, management and operation services by Extex and
Mr Marsh, including:
h assisting Arturus Energy to identify, screen and evaluate U.S. oil and gas investment
opportunities;
h providing land, geological, geophysical and engineering advice in connection with
acquisitions and divestments by Arturus Energy of U.S. oil and gas working interests;
h providing technical and operational advice regarding the operation and management of
Arturus Energys investments in the U.S. oil and gas sector; and
h acting as operator, or procuring an Extex Operating Co. to act as operator, of oil and gas
interests acquired by Arturus Energy.
Mr Marshs appointment will commence on the finalisation and execution of the
abovementioned consulting and management services agreements and will run for an initial
one year term from the date of execution of the agreements, unless terminated earlier in
accordance with the terms of those agreements.
In addition to agreed fees for consulting and operating services, the letter agreement also
provides for Mr Marsh to be offered royalty interests in, and the opportunity to invest in,
Arturuss U.S. oil and gas interests. The quantum of the royalty interests and co-investment
rights will depend on whether Mr Marsh or Arturus introduced the U.S. oil and gas interest or
project.
Potential consideration to Marsh and Extec include:
h a monthly $10,000 fee for the during of the consulting services agreement;
h 110% of Extecs costs of providing the services as operator;
h potential equity rights in Arturus Capital (to be mutually agreed);
h 0.75% overriding royalty interest; and
h a co-investment right in any oil and gas acquisition to be agreed between the parties
but, in the case of an acquisition introduced by Arturus, only to a maximum of 25%.
Todays announcement follows the recent appointment of Michael Bertuccio as full-time
President of Arturus Energy. Arturus Capital believes these developments will ideally position
Arturus to take advantage of investment opportunities in the U.S. oil and gas sector.