The initial test well will target the Bakken Formation and will spud by 30 June 2011.
American Eagle and Big Sky will each own a 50% working interest before payout in the initial test well and a 37.5% working interest after payout.
The companies have the right to drill subsequent wells on the farm-in leasehold at terms substantially the same as those for the initial test well.
American Eagle will operate all of such wells in the prospect area.
