assignment agreement this assignment agreement is entered into this 30th day of august, 2007, by and between : petrosouth energy corporation – sucursal colombia, ( hereinafter petrosouth ) the colombian branch office of a foreign corporation duly incorporated by public deed no. 00657 or 2007 of notary 35 of bogota, acting herein through its legal representative mr. felipe pimienta barros with c. c. 79. 785. 924 ; and petroleum equipment international ltda. – pei ltda. ( hereinafter pei ) a colombian company duly incorporated by public deed no. 4. 533 or 1989 of notary 25 of bogota, acting herein through its legal representative mr. omar leal quiroz with c. c. 91. 241. 011. whereas a contract for the exploration and exploitation of the buenavista sector was entered into by tecnicontrol s. a. and pei ( with a joint and several liability by reason of an “ union temporal ” agreement - union temporal omega energy ) with the agencia nacional de hidrocarburos ( the anh ) on november 8, 2004 ( the buenavista contract ). the buenavista contract is actually in the third exploration phase, and the actual parties thereto have committed to continue with the exploration obligations under the minimum exploration program at least through the year 2008. under the buenavista contract the bolivar - 1 well was drilled with it a discovery was made causing contractor to apply for an exploitation area and the presentation of a development plan currently under consideration of the anh. bolivar - 1 well is currently producing 19. 1° api crude at an average monthly rate of approx. 3, 725 bbls, and production is currently being sol domestically. pagina 1 de 12 through successive assigns and changes in ownership the participating interests in the buenavista contract, in front of the anh, today appear to be distributed as follows : tecnicontrol 50 % bohemia 25 % pei 25 % through private agreements to be effective among the parties, the participating interests in the buenavista contract today appear to be : tc oil and services, s. a. ( tcoil ) 50 % quality services and investments – qsi 12. 5 % pei 37. 5 % on april 20, 2007, tcoil and pei ( as members of the utoe ) have entered into a heads of agreement with the officers of