Exhibit 10.29


 


	Thompson & Knight	 	 
	
        GLOBAL

        ENERGY

        SERVICES
	 	
        333 Clay Street, Suite 3300

        Houston, TX 77002

        Tel 713 653 4787, Fax 832 397 8230

	 	 	 


 


 


September 8th, 2009


 


 


Stanton E. Ross


Chairman and CEO


Infinity Energy Resources, Inc.


7311 W 130th St., Suite 170


Overland Park, KS 66213


 


Via Email - rossy1979@aol.com


 


Re:           Consulting
Services


 


Dear Stan:


 


This letter will confirm Thompson
& Knight Global Energy Services’ (“TKGES”) engagement to assist Infinity Energy Resources, Inc. in its oil
and gas holdings in Nicaragua.


 


TKGES will perform
the following in connection with Infinity Energy Resources, Inc.’s Nicaragua oil and gas holdings.


 


Phase I - Technical
Studies


 


	 	·	Preparation of a geological and geophysical interpretation of existing data in the two blocks (in coordination with Jeff Roberts).


	 	·	An evaluation of the petroleum system and potential reserves in the area.


	 	·	An economic assessment considering various scenarios and sensitivities.


	 	·	Prepare final report.


 


TKGES will be compensated
as follows:


 


	 	·	$100,000 ($50,000 per block) as follows:  50% upon completion seismic interpretation and mapping and preliminary assessment of the petroleum systems, and 50% upon presentation of the final report.


 


Phase II - Farmout


 


	 	·	Prepare and disseminate promotional materials


	 	·	Organize a data room.


	 	·	Manage the data and the sales process.


	 	·	Assist in all negotiations.


 



    	 



    	 



    

Exhibit 10.29


 


	Thompson & Knight	 	 
	
        GLOBAL

        ENERGY

        SERVICES
	 	
        333 Clay Street, Suite 3300

        Houston, TX 77002

        Tel 713 653 4787, Fax 832 397 8230

	 	 	 







 


TKGES will be compensated
as follows


 


	 	·	A success fee of 5% of the upfront cash paid to Infinity by a third party earning an interest in the Nicaragua assets up to $20,000,000 and 10% of any amount exceeding $20,000,000.


	 	·	A success fee of 2% of the remainder value of the transaction (which will include all investments and any other form of contribution firmly committed by a third party to the Nicaragua project;


	 	·	A cost-free 1% overriding royalty interest on all oil and gas produced.


 


Delivery of E&P Business
Management Program: as part of the training program committed by Infinity under the two Nicaragua contracts TKGES will deliver,
at the venue and dates mutually agreed with the Nicaragua government, its four day E&P Management Program, subject to the approval
of such program by the government.


 


TKGES will be compensated as
follows:


 


	 	·	a total of $25,000.00 ($12,500.00 per block) plus expenses.


 


The above terms do not include
legal services or expenses.  Infinity Energy Resources, Inc. will separately compensate Thompson & Knight LLP for
legal services and will reimburse TKGES for expenses as provided in Attachment A.  Attachment A to this letter is a description
of TKGES’s client cost reimbursement policies that reflect the basis upon which we will request reimbursement of expenses.  We
will seek Infinity Energy Resources, Inc.’s approval before incurring any extraordinary reimbursable expenses.


 


TKGES’s work product
will be based on information furnished by and through Infinity Energy Resources, Inc. and TKGES makes no representations or warranties
with regard to its work product nor the success of any work associated with this agreement.  Infinity Energy Resources,
Inc. releases and indemnities TKGES for all claims associated with this agreement.\


 


We appreciate your confidence
in entrusting this matter to us and we look forward to working with you.


 


	 	 	 	
        Sincerely,

         


/s/ Andrew B. Derman


 


Andrew B. Derman

        Vice-Chairman

        Thompson & Knight Global Energy Services
	 


 



    	 



    	 



    

Exhibit 10.29


 


 


	Thompson & Knight	 	 
	
        GLOBAL

        ENERGY

        SERVICES
	 	
        333 Clay Street, Suite 3300

        Houston, TX 77002

        Tel 713 653 4787, Fax 832 397 8230

	 	 	 


 


AGREED AND APPROVED BY INFINITY
ENERGY RESOURCES, INC.


 


 


	 	 	 	 	 
	
        /s/ Stanton E. Ross
	 	 	 
	
        STANTON E. ROSS
	 	 	 	 


 


	 	 	 	 	 
	/s/ Stanton E. Ross	 	 	 
	
        INFINITY ENERGY RESOURCES, INC.

        CHAIRMAN AND CEO
	 	 	 	 


 


SEPTEMBER 9th, 2009


 


AGREED AND APPROVED BY AMEGY
BANK


 


 


	 	 	 	 	 
	/s/ A. Stephen Kennedy	 	 	 
	
        SIGNATURE
	 	 	 	 


 


	 	 	 	 	 
	A. Stephen Kennedy	 	 	 
	
        PRINT NAME
	 	 	 	 


	 	 	 	 	 
	Senior Vice President – Manager – Energy Group	 	 	 
	
        TITLE
	 	 	 	 


 


SEPTEMBER 9, 2009


 


 



    	 



    	 



    

Exhibit 10.29


 


	Thompson & Knight	 	 
	
        GLOBAL

        ENERGY

        SERVICES
	 	
        333 Clay Street, Suite 3300

        Houston, TX 77002

        Tel 713 653 4787, Fax 832 397 8230

	 	 	 


 


ATTACHMENT A


 


Policy Regarding Expenses
Incurred on Behalf of Clients




 


 


General Policy


 


TKGES asks its clients to pay
for certain incremental costs which are incurred in the course of providing consulting services.  These costs, which
are detailed below, are itemized separately from professional time charges to ensure that each client is billed only for those
services utilized on its behalf.  It is TKGES’s general policy to provide these incremental services to clients
at or near its actual cost.  TKGES frequently reviews its expense charges to ensure ongoing compliance with this general
policy.  It should be recognized that many expense charges are positively influenced by volume economies.  Lower
costs derived from volume discounts are calculated into our expense charges to benefit tour clients.


 


Long Distance Telephone
Calls


 


TKGES’s telephone tracking
system generates long distance long distance telephone charges based on rate tables used by our service provider.  This
rate is adjusted by a factor that blends the volume discount the Firm has negotiated with the service provider and taxes associated
with all such calls.  Long distance calls made via a calling card, cellular phone or from a hotel are billed to clients
at the our actual cost.


 


Photocopies


 


TKGES uses an Equitrac automated
system for accurately capturing the number of copies made on behalf of each client matter.  Clients are billed a flat
rate of $.10 per page for both letter and legal size photocopies.  Dual sided copies are billed at $.10 per side.  We
staff an in-house print shop to provide cost effective and expedient client service.  Personnel intensive projects, including
glass work, book copying, binding and Bates stamping, will be charged at competitive rates, generally from $.12 to $.20 per copy.


 


Airfare, Hotels, Car Rentals
and Meals


 


All charges to clients for out-of-town
travel on their behalf are billed at actual cost.  Our standard approved travel class for domestic travel in the United
States is economy class and business class foreign travel.  We may charge clients fares above these stated classes of
service only with the client’s prior approval.


 



    	 



    	 



    

Exhibit 10.29


 


	Thompson & Knight	 	 
	
        GLOBAL

        ENERGY

        SERVICES
	 	
        333 Clay Street, Suite 3300

        Houston, TX 77002

        Tel 713 653 4787, Fax 832 397 8230

	 	 	 


 




 


Courier Costs


 


Federal Express, DHL and other
long distance delivery costs are also charged to clients at actual cost.


 


Telecopy (FAX) Costs


 


The standard rate for all outgoing
facsimiles is $.45 per page, whether local or long distance.  The rate covers the cost of facsimile machines, paper,
supplies, any fax related long distance costs, maintenance, and personnel (non-secretaries) dedicated or partially dedicated to
the sending and receiving of faxes.  We do not bill for incoming faxes.  Based on current utilization, the
standard rate billed does not exceed our total costs to provide telecopy services.


 


Mileage


 


Our personnel may charge a client
a mileage charge when using a personal motor vehicle for client work that takes them outside the city limits of their office location.  Mileage
is not charged for travel within the city.  The mileage rate is based on the Internal Revenue Service deductible rate.  Actual
parking costs may be charged to clients when a personal motor vehicle is used for client work outside the office.


 


Postage and Related Supplies


 


Postage and related supplies
for routine letters, documents and informational mailings are not billed to clients.  Postage and envelope costs are
billed to clients at cost for large mailings that are made on behalf of a client at its request.  No extra charges are
made for personnel who facilitate the mailings.