exhibit_10-12.htm



    
      

    

    EXHIBIT
10.12

     

    


    BILL OF
SALE

    


    


    


    THAT D. Glen Kennedy ("Assignor"), for
and in consideration of the sum of Ten and No/100 Dollars ($10.00), and other
good and valuable consideration to Assignor in hand paid by Xtreme Oil &
Gas, Inc, a Washington corporation ("Assignee"), the receipt and sufficiency of
which are hereby acknowledged and confessed, has GRANTED, BARGAINED, SOLD,
CONVEYED and DELIVERED, and by these presents does GRANT, BARGAIN, SELL, CONVEY
and DELIVER unto the said Assignee all of Assignor's right, title and interest
in and to one hundred percent (100%) of the membership interests in I.R.A. Oil
and Gas, LLC (“I.R.A.”), a Texas limited liability company, free and clear of
all liens, claims and encumbrances, including all rights of ownership, voting
control, distributions and management and manager’s rights and obligations and
the assets owned by I.R.A  Assignor makes no warrantee of workmanship,
quality or fitness for a particular purpose regarding any assets owned by I.R.A.
except that Assignor warrants that Assignor owns one hundred percent (100%) of
the outstanding ownership units of I.R.A., there being no other ownership units
or other securities issued by I.R.A. or debt instruments convertible to
ownership of I.R.A and Assignee will have all rights of control and management
over I.R.A.  Assignee agrees that all assets of I.R.A. are included
only to the extent owned by I.R.A. and owned by I.R.A. “as is” and “where is”
subject to all security assignments, pledges and hypothecations disclosed on
Schedule A.

    


    EXECUTED this 9th day
of October, 2007.

    


    ASSIGNOR:

    


                                                        

    /s/
D. GLEN KENNEDY

    D. GLEN
KENNEDY

    


    


    


    


    


    
      
        
           


        

        
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    Schedule
A.

    


    
      	
              Description
      of Field Assets

            	
              Lien
      holder if any

            	
              Approximate
      balance due, if any

            
	
              Winch
      truck

            	
              n/a

            	
              All
      title and serial #s

            
	
              trailer

            	
              n/a

            	
              At
      office

            
	
              welder

            	
              n/a

            	 
      
	
              Butt
      welder

            	
              n/a

            	
              I
      don’t know where it is

            
	
              Office
      Assets

            	
              Lien
      holder if any

            	
              Approximate
      balance due, if any

            
	
              50,000
      cash bond

            	
              TRRC

            	
              none

            
	
              Lateral
      File Cabinets

            	
              n/a

            	 
      
	
              OKI
      Color Printer

            	
              n/a

            	 
      


    

    


    


     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

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