Eagleford Energy Inc. announced that together with its wholly owned subsidiary, Eagleford Energy, Zavala Inc., has entered into a Joint Development Agreement with Stratex Oil and Gas Holdings, Inc., to facilitate the exploration and development of the oil and gas resources within and underlying the Matthews Lease, a 2629 acre tract of land in Zavala County, Texas. In exchange for Stratex assuming responsibility to make all payments required to maintain the Matthews Lease in good standing and fracture completing the Matthews #1-H in 15 stages, Stratex earns a 66.67% interest before pay out and 50% interest after pay out in the well. Thereafter Stratex and Eagleford Energy will each enjoy a 50% working interest in the Matthews Lease (excluding an 80 acre tract around the Matthews #3 wellbore which is being retained by Eagleford Energy) with Stratex as the operator.

As consideration for the rights granted to the Stratex under the Joint Development Agreement, Stratex agreed to pay $300,000 as follows: $150,000 was delivered on December 4, 2013 to the lessors under the Lease, on behalf of Zavala, $50,000 was delivered to Eagleford on December 4, 2013 and $100,000 will be delivered to Eagleford on or before December 31, 2013.