RESEARCHAGREEMENT

ThisResearch Agreement ("Agreement") is between Petrol Oil & Gas,Inc., hereinafter referred to as the "Company" and Joseph E.Blankenship, hereinafter referred to as the "Analyst". The Analyst isan independent contractor to, and a registered representative of, Source CapitalGroup, Inc., the "Broker-Dealer." Although reports may be publishedunder the name of the Broker-Dealer, Source Capital Group, Inc. is not a partyto this Agreement.

TheAnalyst is an experienced security analyst, providing analysis and research,valuation and investment opinions on common stocks, preferred stocks, debtinstruments, convertible debentures and/or other corporate securities, referredto hereinafter as "Securities." Work product from the Analyst usuallyconsists of "Research Reports" which are disseminated to individualand institutional investors ("Investors") as well as to researchdistributors.

TheCompany has publicly traded Securities, for which Research Reports are desirableto better inform Investors about the Company, its prospects and the potentialvalue of its Securities.

TheAnalyst and the Company do hereby agree that:

Forthe compensation designated on the Scope of Work and Compensation attachedhereto (the "Attachment"), the Analyst agrees to produce ResearchReports covering the Company's common stock as detailed in the Attachment.

TheCompany agrees to pay the amount of compensation agreed upon and within thetiming parameters outlined in the Attachment.

TheCompany recognizes that the Broker-Dealer and therefore the Analyst, operatesunder the rules concerning Research Reports promulgated by the NationalAssociation of Security Dealers ("NASD") and the Securities andExchange Commission ("SEC"). Those rules specify that the Analyst mustcertify that the views in the Research Report accurately reflect the Analyst'spersonal views about the Company's securities. Disclosure rules also require astatement whether the Analyst's compensation was, is, or will be directly orindirectly related to the specific recommendations or views in the ResearchReport. If related compensation was received, this statement must include thesource, amount and purpose of the compensation and a disclosure that thecompensation may influence the recommendation in the Research Report.

TheCompany agrees that, even though it is sponsoring Research Reports to beprepared by the Analyst, the Analyst has full discretion to report his ownopinion about the investment prospects of the Company and desirability for anInvestor. The Company further agrees that compensation stipulated in theAttachment will not be affected by the initial opinion expressed by the Analystor by a subsequent change in the Analyst's opinion, recommendation or pricetarget.

| Agreed:/s/      Paul      Branagan                  
 Agreed:/s/      Joseph E. Blankenship        
Company:                                         
 Joseph      E. Blankenship
Date:      February 9,      2004                     
 February      9, 2004 |
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