EXHIBIT 10.4
 INDIVIDUAL LEASING RECORD NO. 57
 
 EQUIPMENT LEASEDNew orQty.
    
    Used
    
    Make/Manufacturer and Description
    

Model No.
    

Serial No.4
    
    New
    
    2009 Peterbilt Tractors
    
    
    388
    
    
    1XPWD49X89D769890 3351XPWD49X19D769889 3341XPWD49XX9D769888 3331XPWD49X89D770313 336
 Location of Equipment:
    
    240 Jasmine Road
    
    Crowley
    
    Acadia
    
    LA
    
    
    70526(Street Address)
    
    (Town/City)
    
    (Parish)
    
    (State)
    
    (Zip)
  1.
    
    Total Acquisition Cost: $447,717.20.2.
    
    Lease Term: Sixty (60) calendar months (plus, if applicable, any partial first month)
commencing on the date of this Individual Leasing Record and ending on October 9. 2013.
 3.
    

Rent: (a) for each full calendar month: $6,769.47 (plus applicable sales/use tax), payable on
the 9th day of each calendar month, in advance, commencing on October 9, 2008, and the same amount on
the 9th day of each consecutive month thereafter throughout the lease term.
 (b)
    
    for partial first month: $4,738.65 (plus applicable sales/use tax), payable on September 19,
2008.
 4.
    
    The undersigned Lessee hereby acknowledges that it has reviewed and approved the purchase
order, supply contract or purchase agreement covering each Item of Equipment described above
and that each such Item (i) was selected by Lessee, (ii) has been, as of the Date of Delivery
of Equipment specified hereinabove, delivered to, and inspected by, Lessee, (iii) is of a
size, design, capacity, and manufacture acceptable to Lessee and suitable for purposes of
accepting those items under the Lease and making them subject to the Schedule and the Lease,
(iv) is in good working order, repair, and condition, (v) has been installed to Lessees
satisfaction and unconditionally and irrevocably accepted by Lessee, and (vi) has been tested
by Lessee (to the extent Lessee deems appropriate in order to make this certification. The
undersigned Lessor and the undersigned Lessee hereby agree that the Equipment described above
is hereby leased from Lessor to Lessee under the Equipment Leasing Agreement between Lessor
and Lessee dated as of October 2, 2001 (the Lease), is subject to all of the terms,
conditions, and provisions thereof, as supplemented by the terms, conditions, and provisions
of the above-referenced Lease Schedule and any Riders annexed to and made a part of said Lease
Schedule, and the terms and conditions hereof, and that this Individual Leasing Record is made
a part of, and incorporates by reference all of the terms, conditions, and provisions of, the
Lease. The undersigned Lessee hereby agrees to pay the rent for all Items of Equipment covered
by this Individual Leasing Record, in the amounts and at the times specified above and
reaffirms its acknowledgments and agreements in Section 4 of the Lease. Capitalized terms used
herein shall have the meaning given to such terms in the Lease.
  Francis Drilling Fluids, Ltd.
(Lessee)
    
    
    
    Capital One, National Association
(Lessor)By:
    
    /s/ Michael G. Francis
    
    
    
    By:Name:
    
    Michael G. Francis
    
    
    
    Name:Title:
    
    President
    
    
    
    Title:




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##### 



LEASE SCHEDULE NO. 57
  1.
    
    Description of the Equipment covered by this Schedule (the Equipment):
 New orQty.
    
    Used
    
    Make/Manufacturer and Description
    

Model No.
    

Serial No.4
    
    New
    
    2009 Peterbilt Tractors
    
    
    388
    
    
    1XPWD49X89D7698901XPWD49X19D7698891XPWD49XX9D7698881XPWD49X89D770313
 2.
    
    Location of Equipment:
    
    240 Jasmine Road
    
    Crowley
    
    Acadia
    
    LA
    
    70526(Street Address)
    
    (Town/City)
    
    (Parish)
    
    (State)
    
    (Zip)
 3.
    
    The aggregate Acquisition Cost of the Equipment shall not exceed $447,717.20, and the
Equipment shall not be delivered and accepted by Lessee after
December 31, 2008, unless Lessor
otherwise agrees in writing. Lessor shall have no obligation to acquire and lease any Item of
Equipment to Lessee if (a) a material adverse change in the financial condition of Lessee (or
of any guarantor of Lessees obligations under the Lease) has occurred since January 9, 2008,
or (b) an event which is (or with notice or lapse of time or both would become) an Event of
Default under the Lease has occurred.4.
    
    Rent (as a percentage of Acquisition Cost of each Item of the Equipment): 1.511997% for each
full calendar month, and N/A% for each day of any partial first month. Lessee shall
pay the rent to Lessor in advance during the lease term on the dates specified in the
Individual Leasing Record for each Item of the Equipment.5.
    
    Lease Term of the Equipment: sixty (60) full calendar month (plus any partial first month),
commencing, as to each Item, on the date of the Individual Leasing Record therefore, and
unless sooner terminated in accordance with the provisions of the Lease, ending on the date
specified in such Individual Leasing Record.6.
    
    Terminal Rental Adjustment Clause: See Section 24 of the Lease.7.
    
    Casualty Loss Value Payment Date:þ The rent payment date next preceding or coincident with the date of
loss (if rent is paid in advance); oro The rent payment date next following the date of loss (if rent is paid in arrears).8.
    
    Comprehensive Public Liability Insurance: $1,000,000.00 per occurrence. Property Damage Insurance: In an amount equal to the
Acquisition Cost.9.
    
    Other Conditions or Riders (if none, so state): Tax Indemnification Rider, Motor Vehicle
Rider, Terminal Rental Adjustment Rider, and Trac Rider Business Use.
  Francis Drilling Fluids, Ltd.
(Lessee)
    
    
    
    Capital One, National Association
(Lessor)By:
    
    /s/ Michael G. Francis
    
    
    
    By:Name:
    
    Michael G. Francis
    
    
    
    Name:Title:
    
    President
    
    
    
    Title:




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##### 



SCHEDULE OF CASUALTY LOSS VALUES
  
 Termination Schedule
 terminationtermination
    
    
    valuedate
    
    value
    
    
    % of basisSep-08
    
    
    442,978.55
    
    
    
    98.94159751Oct-08
    
    
    438,635.48
    
    
    
    97.97154936Nov-08
    
    
    434,262.50
    
    
    
    96.99482109Dec-08
    
    
    429,843.83
    
    
    
    96.00788822Jan-09
    
    
    425,285.45
    
    
    
    94.98975032Feb-09
    
    
    420,696.36
    
    
    
    93.96475224Mar-09
    
    
    416,076.44
    
    
    
    92.93286831Apr-09
    
    
    411,418.57
    
    
    
    91.89251005May-09
    
    
    406,677.27
    
    
    
    90.83351553Jun-09
    
    
    401,897.52
    
    
    
    89.76593340Jul-09
    
    
    397,033.93
    
    
    
    88.67962485Aug-09
    
    
    392,138.49
    
    
    
    87.58620090Sep-09
    
    
    387,203.95
    
    
    
    86.48404548Oct-09
    
    
    382,185.05
    
    
    
    85.36304915Nov-09
    
    
    377,133.72
    
    
    
    84.23480755Dec-09
    
    
    372,042.65
    
    
    
    83.09768901Jan-10
    
    
    366,866.70
    
    
    
    81.94161376Feb-10
    
    
    361,657.72
    
    
    
    80.77816190Mar-10
    
    
    356,415.60
    
    
    
    79.60730581Apr-10
    
    
    351,141.85
    
    
    
    78.42938586May-10
    
    
    345,840.57
    
    
    
    77.24531732Jun-10
    
    
    340,507.42
    
    
    
    76.05412972Jul-10
    
    
    335,146.54
    
    
    
    74.85674960Aug-10
    
    
    329,751.95
    
    
    
    73.65183821Sep-10
    
    
    324,325.09
    
    
    
    72.43972067Oct-10
    
    
    318,870.20
    
    
    
    71.22134129Nov-10
    
    
    313,381.23
    
    
    
    69.99535202Dec-10
    
    
    307,859.61
    
    
    
    68.76206854Jan-11
    
    
    302,309.64
    
    
    
    67.52245313Feb-11
    
    
    296,725.24
    
    
    
    66.27514832Mar-11
    
    
    291,106.28
    
    
    
    65.02012533Apr-11
    
    
    285,456.36
    
    
    
    63.75818459May-11
    
    
    279,792.15
    
    
    
    62.49305283Jun-11
    
    
    274,096.77
    
    
    
    61.22096108Jul-11
    
    
    268,386.96
    
    
    
    59.94564469Aug-11
    
    
    262,642.13
    
    
    
    58.66250525Sep-11
    
    
    256,865.79
    
    
    
    57.37233057Oct-11
    
    
    251,074.75
    
    
    
    56.07887137Nov-11
    
    
    245,248.38
    
    
    
    54.77752118Dec-11
    
    
    239,390.18
    
    
    
    53.46905968Jan-12
    
    
    233,516.99
    
    
    
    52.15725310Feb-12
    
    
    227,608.17
    
    
    
    50.83748683Mar-12
    
    
    221,663.58
    
    
    
    49.50973108Apr-12
    
    
    215,688.89
    
    
    
    48.17525147May-12
    
    
    209,713.32
    
    
    
    46.84057643Jun-12
    
    
    203,707.51
    
    
    
    45.49914860Jul-12
    
    
    197,700.73
    
    
    
    44.15750233Aug-12
    
    
    191,657.81
    
    
    
    42.80778467Sep-12
    
    
    185,584.38
    
    
    
    41.45125137Oct-12
    
    
    179,509.75
    
    
    
    40.09444960Nov-12
    
    
    173,398.72
    
    
    
    38.72951969Dec-12
    
    
    167,256.90
    
    
    
    37.35771059Jan-13
    
    
    161,113.64
    
    
    
    35.98558243Feb-13
    
    
    154,933.74
    
    
    
    34.60526875Mar-13
    
    
    148,717.05
    
    
    
    33.21673890Apr-13
    
    
    142,475.28
    
    
    
    31.82260644May-13
    
    
    136,271.78
    
    
    
    30.43702038Jun-13
    
    
    130,043.24
    
    
    
    29.04584402Jul-13
    
    
    123,853.01
    
    
    
    27.66322383Aug-13
    
    
    117,625.96
    
    
    
    26.27237884Sep-13
    
    
    111,373,78
    
    
    
    24.87592158Oct-13
    
    
    111,929.30
    
    
    
    25.00000000
  Francis Drilling Fluids, Ltd.
(Lessee)
    
    
    
    Capital One, National Association
(Lessor)By:
    
    /s/ Michael G. Francis
    
    
    
    By:Name:
    
    Michael G. Francis
    
    
    
    Name:




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##### 



MOTOR VEHICLE RIDER
          Francis Drilling Fluids, Ltd.
(Lessee)
    
    
    
    Capital One, National Association
(Lessor)By:
    
    /s/ Michael G. Francis
    
    
    
    By:Name:
    
    Michael G. Francis
    
    
    
    Name:Title:
    
    President
    
    
    
    Title:




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##### 



TAX INDEMNIFICATION RIDER
    Francis Drilling Fluids, Ltd.
(Lessee)
    
    
    
    Capital One, National Association
(Lessor)By:
    
    /s/ Michael G. Francis
    
    
    
    By:Name:
    
    Michael G. Francis
    
    
    
    Name:




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##### 



TRAC
RIDER  BUSINESS USE
     th
 Francis Drilling Fluids, Ltd.
(Lessee)
    
    
    
    Capital One, National Association
(Lessor)By:
    
    /s/ Michael G. Francis
    
    
    
    By:Name:
    
    Michael G. Francis
    
    
    
    Name:Title:
    
    President
    
    
    
    Title:




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##### 



CONTINUING GUARANTY
   GUARANTOR FURTHER AGREES TO INDEMNIFY AND
HOLD HARMLESS LESSOR FROM ANY AND ALL LOSSES, DAMAGES, COSTS AND EXPENSES (INCLUDING, WITHOUT
LIMITATION, COSTS OF COURT AND ATTORNEYS FEES INCURRED BY LESSOR) IN THE EVENT OF ANY DEFAULT BY
GUARANTOR OF HIS OBLIGATIONS UNDER THIS AGREEMENT.




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##### 








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##### 



GUARANTOR:/s/ Michael G. Francis
Michael G. FrancisSSN: xxx-xx-2806Address: 240 Jasmine Rd.Crowley, LA 70527