exhibit 10. 3 assignment this assignment ( the " assignment " ) is made by keith d. spickelmier ( " spickelmier " ) in favor of santos resource corp., a nevada corporation ( " santos " ) as of the _ _ _ _ day of january, 2012. recitals whereas, spickelmier entered into a legal document ( as amended and restated on december 1, 2011, the " liberty agreement " ) with liberty petroleum corporation ( " liberty " ) whereby liberty granted to spickelmier an exclusive right until november 28, 2011 ( which has been extended for another 60 days by making the payment of an additional us $ 100, 000 deposit paid by santos to liberty under the terms of the letter of intent between spickelmier and santos dated november 16, 2011 ) to negotiate an option to acquire exploration and drilling rights related to the pel 512 prospect involving 584, 651 gross acres in the " heart " of the cooper basin oil fairway in south australia ( the " prospect " ), a copy of the liberty agreement being attached hereto as an exhibit ; and whereas, for the purchase price provided for herein and subject to the terms, provisions and conditions set forth herein, santos desires to acquire from spickelmier all of spickelmier's rights under the liberty agreement ( the " rights " ) ; and whereas, for the purchase price provided for herein and subject to the terms, provisions and conditions set forth herein, spickelmier desires to sell to santos all of the rights ; 1. assignment 1. 1 assignment. in consideration of the purchase price provided for hereinafter, spickelmier does hereby assign to santos all of spickelmier's rights, free and clear of all encumbrances, security interests, liens, charges, and claims. 1. 2 binding obligation. to have and to hold the rights, together with all the rights and appurtenances thereto in anywise belonging, unto santos, and its legal representatives, successors and assigns, forever, and spickelmier does hereby bind himself, and his heirs, beneficiaries, legal representatives, successors and assigns, to forever warrant and defend title to the rights unto santos, and its successors and assigns, against the claims of any and all persons whomsoever claiming through spick