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Finders Agreement

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Title:

Finders Agreement

Entities:

Platinum Energy Resources Inc

Date:

2006

Size:

10KB total

Price:

$38

ID:

#2589773

► Fee Agreements ► Finders Agreements

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FINDERS AGREEMENT

THIS FINDERS AGREEMENT (this Agreement) is dated as of the 26th day of October, 2006, by and between Platinum Energy Resources, Inc., a Delaware corporation (Platinum), and Lance Duncan, an individual (Duncan).

WHEREAS, on January 26, 2006, Platinum, Tandem Energy Holdings, Inc. (Tandem) and PER Acquisition Corp. (PER) and certain stockholders of Tandem, entered into an Agreement and Plan of Merger (as amended, the Merger Agreement) pursuant to which PER was to merge with and into Tandem; and

WHEREAS, in connection with the proposed merger, on January 26, 2006, Platinum entered into a letter agreement with Duncan pursuant to which Platinum agreed to pay to Duncan a fee for his services in connection with the proposed merger, including introduction of the parties, as well as for future consulting services (the Letter Agreement); and

WHEREAS, in connection with the parties determination to restructure the proposed transaction, on October 4, 2006, the Merger Agreement was terminated by the parties and on October 4, 2006, Platinum, PER, Tandem Energy Corporation (TEC) and certain stockholders of Tandem, entered into an Asset Acquisition Agreement and Plan of Reorganization (the Acquisition Agreement) pursuant to which PER will acquire substantially all of the assets and assume substantially all of the liabilities of TEC (the Acquisition); and

WHEREAS, in light of the restructured transaction, on October 26th, 2006, the Letter Agreement was terminated by the parties thereto and the parties acknowledged that, notwithstanding the termination of the Letter Agreement, Platinum desires to compensate Duncan for his introduction of the parties

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