----

**Exhibit10.9        - Convertible Secured Note and        Associated Warrant by and between NCIM Limited and Gulf Western Petroleum        Corporation, effective July 3, 2007.**

**CONVERTIBLE        SECURED NOTE**

**TERMS        AND CONDITIONS**

**JULY        3, 2007**

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| **Note                  Amount:**             |   | **US$                  500,000.00**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|-----------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Borrower:**                                 |   | **Gulf                  Western Petroleum Corporation (the “Company”)**                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Lender:**                                   |   | **NCIM                  Limited**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Security                  Description:**    |   | Secured                  Convertible Note (“Note”).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Maturity                  Date:**           |   | 18                  Months from the Closing.  At Maturity, the Company is obligated                  to redeem any outstanding principal balance on the Note at 100%                  plus                  accrued Interest.                                                                                                                                                                                                                                                                                                                 |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Security:**                                 |   | Security                  interest on all assets now or hereinafter created or acquired by                  the                  Company and its subsidiaries                                                                                                                                                                                                                                                                                                                                                                                           |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Interest                  Rate:**           |   | Fixed                  12.0% per annum, payable quarterly in arrears in cash.                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Amortizations:**                            |   | On                  the first business day of each month beginning with the third (3rd)                  month                  following the Closing, the Company will be required to repay in                  cash                  1/15th                  of                  the Note Amount plus accrued Interest.                                                                                                                                                                                                                               |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Company                  Prepayment**       |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Right:**                                    |   | In                  addition to the regular amortizations, the Company may prepay any                  or all                  outstanding principal balance on the Note at any time in cash at                  a price                  equal to 105% of the current outstanding Note balance, plus accrued                  interest.                                                                                                                                                                                                                |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Lender                  Conversion Right:** |   | The                  Lender may convert any or all of its Note into Company common stock                  at any                  time after the Closing at a price equal to 150% of the 5 day average                  VWAP                  prior to the Closing.                                                                                                                                                                                                                                                                                     |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Warrant:**                                  |   | The                  Lender shall receive a warrant giving it the right, at any time                  within 3                  years of the Closing, to acquire up to 125,000 shares of Company                  common                  stock at a price equal to the 5 day average VWAP of the Company’s common                  stock prior to the Closing.  These Warrants are cash                  pay.                                                                                                                          |
|                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Right                  of Participation:**  |   | During                  the period beginning at the Closing and ending on the earlier of                  the                  6th                  month                  anniversary of the Closing and sixty days after no Note remain                  outstanding, the Lender will have the right to purchase up to 4.0%                  of all                  debt and/or equity/equity - linked financings offered by the Company.                  This                  Right is subject to customary standard                  exceptions. |

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

----

|                                         |   |                                                                                                                                                                                                                                                                                                                                               |
|----------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **Piggy                  Back Restoration:** |   | Upon                  the preparation and filing of an SB-2 or other available U.S. registration                  statement, the Company will use its best efforts to include the                  shares                  underlying the Note and Warrant in such registration statement                  on a piggy                  back basis. |
|                                         |   |                                                                                                                                                                                                                                                                                                                                               |
| **Guaranties:**                              |   | The                  Note will be covered by the secured guaranties of all domestic                  subsidiaries (existing and future).                                                                                                                                                                                                           |
| **Representations                  and**     |   |                                                                                                                                                                                                                                                                                                                                               |
| **Warranties:**                              |   | Customary                  for investments of this nature with respect to the Company and                  all of its                  subsidiaries existing and future, including but not limited                  to:                                                                                                                            |
|                                         |   |                                                                                                                                                                                                                                                                                                                                               |
|                                         |   | 2.    Corporate                  existence and good standing.                                                                                                                                                                                                                                                                  |
|                                         |   | 3.    Corporate                  and                  governmental authorization; no contravention.                                                                                                                                                                                                                            |
|                                         |   | 4.    Enforceability                  and validity of all agreements. Validity, enforceability, perfection                  and                  priority of all security interests and liens granted to                  Lenders.                                                                                             |
|                                         |   | 5.    Capital                  structure and outstanding indebtedness.                                                                                                                                                                                                                                                         |
|                                         |   | 6.    Title                  to property; no encumbrances except permitted leases.                                                                                                                                                                                                                                             |
|                                         |   | 7.    Accuracy                  of                  information.                                                                                                                                                                                                                                                               |
|                                         |   | 8.    No                  material adverse change.                                                                                                                                                                                                                                                                             |
|                                         |   | 9.    Environmental                  matters.                                                                                                                                                                                                                                                                                  |
|                                         |   | 10.                           Compliance with laws and regulations, including ERISA                                                                                                                                                                                                                   |
|                                         |   | 11.                           No material litigation.                                                                                                                                                                                                                                                 |
|                                         |   | 12.                           Existence, incorporation, etc. of subsidiaries.                                                                                                                                                                                                                         |
|                                         |   | 13.                           Payment of taxes.                                                                                                                                                                                                                                                       |
|                                         |   | 14.                           Adequacy of insurance.                                                                                                                                                                                                                                                  |
|                                         |   | 15.                           No affiliate transactions.                                                                                                                                                                                                                                              |
|                                         |   | 16.                           Full disclosure.                                                                                                                                                                                                                                                        |
|                                         |   |                                                                                                                                                                                                                                                                                                                                               |
|                                         |   |                                                                                                                                                                                                                                                                                                                                               |
| **Covenants:**                               |   | Customary                  for investments of this nature with respect to the Company and                  its                  subsidiaries, including but not limited to:                                                                                                                                                                        |
|                                         |   |                                                                                                                                                                                                                                                                                                                                               |
|                                         |   | **Affirmative                  Covenants:**                                                                                                                                                                                                                                                                                                        |
|                                         |   |                                                                                                                                                                                                                                                                                                                                               |
|                                         |   | 1.    Maintain                  existence; conduct of business; public company status.                                                                                                                                                                                                                                         |
|                                         |   | 2.    Operation                  and                  maintenance of properties.                                                                                                                                                                                                                                               |
|                                         |   | 3.    Insurance.                                                                                                                                                                                                                                                                                                               |
|                                         |   | 4.    Compliance                  with                  laws, including public company filing                  obligations.                                                                                                                                                                                                    |

----

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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|                                      |   | 5.    Listing                of Common Stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|-------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                      |   | 6.    Additional                collateral; title information; additional guarantors.                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|                                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                      |   | **Negative                Covenants:**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                      |   | 1.    Indebtedness                and liens, other than permitted debt and permitted                liens.                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                      |   | 2.    Dividends,                distributions and redemptions; repayment of subordinated                debt.                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                      |   | 3.    Investments,                loans and advances.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|                                      |   | 4.    Sale                of                properties; sale or discount of receivables.                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                      |   | 5.    Transactions                with affiliates.                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                      |   | 6.    Mergers                or consolidations subject to standard exceptions.                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                      |   | 7.    Sale                of                assets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| **Confidentiality:**                      |   | The                terms and conditions contained in the Note are confidential and shall                not                be disclosed by the Borrower or Lender to any 3rd                parties,                other than the Parties agents, attorneys or those representatives                under an                obligation to keep this Note and its terms and conditions strictly                confidential.  Notwithstanding, Parties may make disclosures as                required pursuant to laws and regulations. |
|                                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| **Closing                & Funding:** |   | Closing                and funding of the Note will occur simultaneously with the mutual                execution of this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                               |

| **BORROWER:**                                                   |                                                     | ** LENDER:**                                                                     |
|-----------------------------------------------------------------|----------------------------------------------------------|---------------------------------------------------------------------------------------|
| Gulf                  Western Petroleum Corporation             |                                                     |  NCIM                  Limited                                                   |
| 4801                  Woodway Drive, Suite 306W                 |                                                     |  Manfield                  House                                                 |
| Houston,                  Texas 77056                           |                                                     | 1                  Southampton Street                                                 |
| (713)                  355-7001                                 |                                                     | London  WC2R                                                                |
|                                                            |                                                     |                                                                                  | 020                  7557 4372 0LR |
|                                                            |                                                     |                                                                                  |   |   |
|                                                            |                                                     |                                                                                  |   |   |
| Signature:                                                      | /                  s                  / Donald L. Sytsma |                                                                                  | Signature: | /                  s/ Adam Cooke |
|                                                            |                                                     |                                                                                  |   |   |
| Name:                                                           | /                  s                  / Donald L. Sytsma |                                                                                  | Name: | /                  s/ Adam Cooke |
|                                                            |                                                     |                                                                                  |   |   |
| Title:                                                          | Chief                  Financial Officer                 |                                                                                  | Title: | Director |
|                                                            |                                                     |                                                                                  |   |   |
| Fax                  No. for Notices:  (713) 979-3728 |                                                     |  Fax                  No. for Notices:  020 7557                  4379 |

----

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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**No.      70307-1**

**WARRANT      CERTIFICATE**

**GULF      WESTERN PETROLEUM CORPORATION**

** **

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

----

----

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

----

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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|   | a) | it                is duly authorized to create and issue this                Warrant; |
|--------|----|---------------------------------------------------------------------------------------|

|   | b) | this                Warrant is a valid and enforceable obligation of the Corporation                in                accordance with the terms hereof; |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | c) | it                will take all such action as may be necessary to ensure that all                Shares                issuable hereunder, may be so issued without violation of any applicable                requirements of any exchange or over-the-counter market upon which                the                Shares may be listed or in respect of which the Shares are qualified                for                unlisted trading privileges; |
|--|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d) | the                issuance of certificates of Shares upon the exercise of the Warrants                shall                be made without charge to the Holder for any issuance tax in respect                thereto, provided that the Corporation shall not be required to pay                any                tax which may be payable in respect of any transfer involved in the                issuance and delivery of any certificate in a name other than that                of the                Holder; and |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e) | the                Corporation will attend to all filings required to be made by the                Corporation under applicable securities legislation in respect of                the                exercise of the Warrant in accordance with the terms                hereof.  For greater certainty, such requirement will not impose                any obligation on the Corporation to file a prospectus or registration                statement or similar document, or to become a reporting issuer or                a                registrant in any province, state or                territory. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*“Equity      Shares” *

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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|   | (i) | an                event referred to in Subsection 9(a);                or |
|--------|-----|---------------------------------------------------------------------------|

|   | (ii) | the                fixing by the Corporation of a record date for an event referred                to in                Subsection 9(b), |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------|

| (a) | If                  and whenever at any time prior to the Expiry Time and while this                  Warrant                  is outstanding, the Corporation                  shall: |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (i) | subdivide                  the outstanding shares of common stock into a greater number of                  shares of                  common stock, |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | consolidate                  the outstanding shares of common stock into a lesser number of                  shares of                  common stock, or |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (iii) | make                  any distribution, other than by way of a dividend in the ordinary                  course,                  to the holders of all or substantially all of the outstanding shares                  of                  common stock payable in shares of common stock or securities exchangeable                  for or convertible into shares of common                  stock, |
|--|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

----

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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|   | (a) | issuing                to the Holder, if the Warrant is exercised after such record date                and                before the occurrence of such event (the date of such exercise being                herein referred to as the “Exercise Date”), the additional Shares issuable                upon such exercise by reason of the adjustment required by such event,                and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | delivering                to the Holder any distributions declared with respect to such additional                Shares after such Exercise Date and before such                event, |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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|  | (i) | if                  to the Corporation: |
|--|-----|-----------------------------------------|

|  | (ii) | if                  to the Holder, at the address shown on the first page of this Warrant                  Certificate. |
|--|------|-------------------------------------------------------------------------------------------------------------------------|

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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|   |   | **GULF                WESTERN PETROLEUM CORPORATION** |   |
|--------|--------|-------------------------------------------------------|--------|
|   |   |                                                  |   |
|   |   |                                                  |   |
|   | By:    | /                s                / Donald L. Sytsma  |   |
|   |   | Corporate                Secretary                    |   |

----

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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**SUBSCRIPTION      FORM**

**TO:           GULF      WESTERN PETROLEUM CORPORATION**

** **

| A. ̈ | The                undersigned holder (a) at the time of exercise of the Warrant is                not in                the United States, (b) is not a “U.S. person” (a “U.S. Person”), as such                term is defined in Regulation S under the U.S. Securities Act of                1933, as amended (the “Securities Act”), and is not exercising such                securities on behalf of a U.S. Person or a person in the United States,                and (c) did not execute or deliver the exercise form for such securities                while in the United States; or |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| B. ̈ | The                undersigned holder has furnished a written opinion of counsel of                recognized standing in form and substance satisfactory to the Corporation                to the effect that an exemption from the registration requirements                of the                Securities Act and applicable state securities laws is available                for the                issuance of the Shares. (Please contact the Corporation for additional                information on this option). |
|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **Name                in Full** | **Address                in Full** | **Number                of Shares** |
|---------------------------------|------------------------------------|-------------------------------------|
|                            |                               |                                |
|                            |                               |                                |
|                            |                               |                                |
|                            |                               |                                |

----

----

**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

----

* (Please      state full names in which stock certificates are to be issued, stating whether      Mr., Mrs., Ms. or Miss is applicable.  If any of the Shares are to be      issued to a person other than the Holder, the Holder must pay to the Corporation      all eligible transfer taxes and/or fees)*

|                |   |                                         |   |
|---------------------|--------|----------------------------------------------|--------|
| Witness   |   | Signature              of Holder or Assignee |   |
|                |   |                                         |   |
|                |   |                                         |   |
|                |   |                                         |   |
|                |   |                                         |   |
|                |   | Address              of Holder or Assignee   |   |

----

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**Exhibit10.9            - Convertible Secured Note and            Associated Warrant by and between NCIM Limited and Gulf Western Petroleum            Corporation, effective July 3, 2007.**

**CONVERTIBLE            SECURED NOTE**

**TERMS            AND CONDITIONS**

**JULY            3, 2007**

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**Instructions      For Subscription**

----