Consolidated Financial Statements

Ontex Resources Limited

December 31, 2008 and 2007

10. RELATED PARTY TRANSACTIONS

`` Ontex Resources has an ongoing commitment in the amount of $175,000 per year, escalating by ten percent annually under an agreement expiring December 31, 2018, to compensate an executive officer for management services. ``

Total Compensation to Gary Conn after 10 years: $2,789,049,+ stock option; 1.6million granted @ $0.115