EXHIBIT 10.5
 INDIVIDUAL LEASING RECORD NO. 58
 
 EQUIPMENT LEASEDNew orQty.
    
    Used
    
    Make/Manufacturer and Description
    

Model No.
    

Serial No.9
    
    New
    
    2009 Stephen Semi-Trailers
    
    P-41-1000
    
    1S9AL15B79H474027
    
    
    1661S9AL15BX9H474068
    
    
    1671S9AL15B19H474069
    
    
    1681S9AL15B09H474077
    
    
    1691S9AL15B29H474078
    
    
    1701S9AL15B49H474079
    
    
    1711S9AL15B09H474080
    
    
    1721S9AL15B29H474081
    
    
    1731S9AL15B49H474082
    
    
    174
 Location of Equipment:
    
    240 Jasmine Road
    
    Crowley
    
    Acadia
    
    LA
    
    70526(Street Address)
    
    (Town/City)
    
    (Parish)
    
    (State)
    
    (Zip)
  1.
    
    Total Acquisition Cost: $516,852.00.2.
    
    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: $7,962.19 (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.
  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.
    
    
    
    Capital One, National Association(Lessee)
    
    
    
    (Lessor)
 By:
    /s/ Michael G. Francis
    
    
    
    By:
 Name:
    

Michael G. Francis
    
    
    
    Name:Title:
    
    President
    
    
    
    Title:




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##### 



LEASE SCHEDULE NO. 58
  1.
    
    Description of the Equipment covered by this Schedule (the Equipment):
 New orQty.
    
    Used
    
    Make/Manufacturer and Description
    

Model No.
    

Serial No.9
    
    New
    
    2009 Stephens Semi-Trailers
    
    9-41-1000
    
    1S9AL15B79H4740271S9AL15BX9H4740681S9AL15B19H4740691S9AL15B09H4740771S9AL15B29H4740781S9AL15B49H4740791S9AL15B09H4740801S9AL15B29H4740811S9AL15B49H474082
 2.      Location
of Equipment:
    
    240 Jasmine Road
(Street Address)
    
    Crowley
(Town/City)
    
    Acadia
(Parish)
    
    LA
(State)
    
    70526
(Zip)
 3.
    
    The aggregate Acquisition Cost of the Equipment shall not exceed $516,852.00, 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): 1.540517% 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.
    
    
    
    Capital One, National Association(Lessee)
    
    
    
    (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
    
    
    511,278.39
    
    
    
    98.92162360Oct-08
    
    
    506,152.45
    
    
    
    97.92986261Nov-08
    
    
    500,991.69
    
    
    
    96.93136404Dec-08
    
    
    495,787.35
    
    
    
    95.92443276Jan-09
    
    
    490,482.91
    
    
    
    94.89813528Feb-09
    
    
    485,142.99
    
    
    
    93.86497247Mar-09
    
    
    479,767.45
    
    
    
    92.82491891Apr-09
    
    
    474,352.62
    
    
    
    91.77726279May-09
    
    
    468,870.66
    
    
    
    90.71661885Jun-09
    
    
    463,348.97
    
    
    
    89.64828735Jul-09
    
    
    457,759.80
    
    
    
    88.56690038Aug-09
    
    
    452,134.09
    
    
    
    87.47844426Sep-09
    
    
    446,468.05
    
    
    
    86.38218576Oct-09
    
    
    440,734.07
    
    
    
    85.27278040Nov-09
    
    
    434,963.01
    
    
    
    84.15620225Dec-09
    
    
    429,151.03
    
    
    
    83.03170563Jan-10
    
    
    423,270.62
    
    
    
    81.89396974Feb-10
    
    
    417,352.60
    
    
    
    80.74895626Mar-10
    
    
    411,396.82
    
    
    
    79.59663826Apr-10
    
    
    405,403.74
    
    
    
    78.43710414May-10
    
    
    399,370.20
    
    
    
    77.26974089Jun-10
    
    
    393,299.04
    
    
    
    76.09509941Jul-10
    
    
    387,187.16
    
    
    
    74.91257937Aug-10
    
    
    381,036.82
    
    
    
    73.72261607Sep-10
    
    
    374,848.37
    
    
    
    72.52528122Oct-10
    
    
    368,618.81
    
    
    
    71.31999357Nov-10
    
    
    362,350.35
    
    
    
    70.10717842Dec-10
    
    
    356,043.31
    
    
    
    68.88689738Jan-11
    
    
    349,694.77
    
    
    
    67.65858846Feb-11
    
    
    343,306.88
    
    
    
    66.42266687Mar-11
    
    
    336,879.50
    
    
    
    65.17910446Apr-11
    
    
    330,415.52
    
    
    
    63.92845918May-11
    
    
    323,926.66
    
    
    
    62.67300152Jun-11
    
    
    317,400.94
    
    
    
    61.41041187Jul-11
    
    
    310,850.15
    
    
    
    60.14297076Aug-11
    
    
    304,259.26
    
    
    
    58.86777223Sep-11
    
    
    297,631.09
    
    
    
    57.58536021Oct-11
    
    
    260,977.50
    
    
    
    56.29803188Nov-11
    
    
    284,283.45
    
    
    
    55.00287254Dec-11
    
    
    277,551.68
    
    
    
    53.70041732Jan-12
    
    
    270.794.17
    
    
    
    52.39298019Feb-12
    
    
    263,995.79
    
    
    
    51.07763767Mar-12
    
    
    257,156.41
    
    
    
    49.75436052Apr-12
    
    
    250,278.71
    
    
    
    48.42367140May-12
    
    
    243,374.79
    
    
    
    47.08790799Jun-12
    
    
    236,432.30
    
    
    
    45.74468106Jul-12
    
    
    229,463.37
    
    
    
    44.39633881Aug-12
    
    
    222,452.79
    
    
    
    43.03993986Sep-12
    
    
    215,403.20
    
    
    
    41.67599218Oct-12
    
    
    208,326.82
    
    
    
    40.30686140Nov-12
    
    
    201,208.40
    
    
    
    38.92959700Dec-12
    
    
    194,050.52
    
    
    
    37.54469774Jan-13
    
    
    186,865.50
    
    
    
    36.15454682Feb-13
    
    
    179,638.03
    
    
    
    34.75618452Mar-13
    
    
    172,367.97
    
    
    
    33.34958046Apr-13
    
    
    165,066.80
    
    
    
    31.93695599May-13
    
    
    157,796.32
    
    
    
    30.53027110Jun-13
    
    
    150,494.72
    
    
    
    29.11756546Jul-13
    
    
    143,223.82
    
    
    
    27.71079913Aug-13
    
    
    135,910.16
    
    
    
    26.29575996Sep-13
    
    
    128,565.21
    
    
    
    24.87466556Oct-13
    
    
    129,213.00
    
    
    
    25.00000000
  Francis Drilling Fluids, Ltd.
    
    
    
    Capital One, National Association(Lessee)
    
    
    
    (Lessor)By:
    /s/ Michael G. Francis
    
    
    
    By:Name:
    Michael G. Francis
    
    
    
    Name:Title:
    
    President
    
    
    
    Title:




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##### 



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




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##### 



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