Document:

Exhibit 10.3

    
      
        

      

      Newton
        Properties, Inc

      Trust
        Company Complex

      Ajeltake
        Road

      Ajeltake
        Island, 

      Majuro,
        Marshall Islands MH96960

      

      

      RE:
        Barnett Crossroads Prospect Area, Escambia County, Alabama

      

      Gentlemen:

      

      This
        letter, when accepted by you in the manner hereinafter provided, will constitute
        an agreement (“ Agreement”) by and between Newton Properties, Inc. (“Newton”)
        and Ignis Petroleum Corporation (“Ignis”) relating to the lands, leases and
        proposed operations thereon covering the Barnett Crossroads Prospect Area,
        Escambia County, Alabama as more fully described on Exhibit “A” attached hereto
        (“Subject Leases”). With regard to the foregoing, we have agreed as
        follows:

      

      1.
        Newton
        represents and warrants that it has acquired or owns the right to acquire
        an
        undivided seventy-five percent of eight-eighths interest (75% x 8/8ths) in
        and
        to the Subject Leases and to conduct operations for the drilling of a well
        or
        wells thereon, all in accordance with the Subject Leases, assignments and
        written agreements currently affecting the Subject Leases. Ignis shall carry
        100% of all costs to drill, test and complete each well drilled on the Subject
        Leases. For all purposes herein, one hundred percent of the working interest
        shall be equal to a seventy percent of one hundred percent (70%x100%) net
        revenue interest in and to the Subject Leases.

      

      2.
        Newton
        represents and warrants that Blue Ridge Energy, Inc. (“Blue Ridge”) has acquired
        or has access to certain geological and geophysical data and information
        and
        that Blue Ridge, for so long as this agreement is in effect and upon written
        notice from Ignis, will conduct seismic, geological and geophysical evaluations
        and other services on the lands and mineral estate of the Subject Leases
        at the
        sole cost and expense of Ignis . Such services when required by Ignis shall
        be
        performed by Blue Ridge with the understanding and agreement on a non-exclusive
        basis.

      

      3.
        The
        purchase price for the acquisition of the interests herein described shall
        be $
        375,000.00, evidenced by a promissory note (“ Note”), the form of which is
        attached hereto as Exhibit “B”. The Note shall be delivered to Newton by Ignis
        on before April 22, 2005 at the offices of Newton or such other location
        as
        Newton and Ignis shall agree (“Closing”). At Closing, Newton shall deliver
        Assignments and other instruments transferring title to the Subject Leases,
        such
        Assignments to be in the form attached hereto as Exhibit “C”. In the event of a
        conflict in the terms and conditions of the Note and this Agreement, this
        Agreement shall govern.

      

      4.
        In the
        event that Ignis does not commence actual drilling operations on the first
        well
        on or before September 30, 2005, Ignis shall, without notice from Newton,
        deliver assignments of the interests acquired by Ignis hereunder to Newton,
        whereupon this Agreement shall terminate and be of no further force or effect
        on
        Newton and Ignis. 

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      5.
        The
        form of operating agreement attached hereto as Exhibit “D” shall govern all
        operations on the lands and interests covered by the Subject
        Leases.

      

      If
        this
        letter correctly describes your understanding and agreements with respect
        to the
        matters contained herein, please sign two (2) originals of this letter in
        the
        manner provided below and return one (1) to the undersigned, whereupon it
        will
        become binding upon our respective successors and assigns.

      

      
        	 	
                Very
                  truly yours,

              
	 	 
	 	
                /s/
                  Philipp Buschmann

              
	 	 
	 	
                Philipp
                  Buschmann, CEO

              

      

      

      AGREED
        TO
        AND ACCEPTED this the 22 day of April, 2005.

      

      Newton
        Properties, Inc.

      

      /s/
        David
        Craven

      By:
        David
        Craven

      

      Its:
        CEO/DirectorExhibit 10.4

    
      
        

      

    

    Newton
      Properties, Inc

    Trust
      Company Complex

    Ajeltake
      Road

    Ajeltake
      Island, 

    Majuro,
      Marshall Islands MH96960

    

    

    RE:
      North
      Wright Field Prospect, Acadia Parish, Louisiana

    

    Gentlemen:

    

    This
      letter, when accepted by you in the manner hereinafter provided, will constitute
      an agreement (“ Agreement”) by and between Newton Properties, Inc. (“Newton”)
      and Ignis Petroleum Corporation (“Ignis”) relating to the lands, leases and
      proposed operations thereon covering the North Wright Field Prospect, Acadia
      Parish, Louisiana as more fully described on Exhibit “A” attached hereto
      (“Subject Leases”). With regard to the foregoing, we have agreed as
      follows:

    

    1.
      Newton
      represents and warrants that it has acquired or owns the right to acquire an
      undivided seventy-five percent of eight-eighths interest (75% x 8/8ths) in
      and
      to the Subject Leases and to conduct operations for the drilling of a well
      or
      wells thereon, all in accordance with the Subject Leases, assignments and
      written agreements currently affecting the Subject Leases. Ignis shall carry
      100% of all costs to drill, test and complete each well drilled on the Subject
      Leases. For all purposes herein, one hundred percent of the working interest
      shall be equal to a seventy percent of one hundred percent (70%x100%) net
      revenue interest in and to the Subject Leases.

    

    2.
      Newton
      represents and warrants that Blue Ridge Energy, Inc. (“Blue Ridge”) has acquired
      or has access to certain geological and geophysical data and information and
      that Blue Ridge, for so long as this agreement is in effect and upon written
      notice from Ignis, will conduct seismic, geological and geophysical evaluations
      and other services on the lands and mineral estate of the Subject Leases at
      the
      sole cost and expense of Ignis . Such services when required by Ignis shall
      be
      performed by Blue Ridge with the understanding and agreement on a non-exclusive
      basis.

    

    3.
      The
      purchase price for the acquisition of the interests herein described shall
      be $
      1,125,000.00, evidenced by a promissory note (“ Note”), the form of which is
      attached hereto as Exhibit “B”. The Note shall be delivered to Newton by Ignis
      on before April 22, 2005 at the offices of Newton or such other location as
      Newton and Ignis shall agree (“Closing”). At Closing, Newton shall deliver
      Assignments and other instruments transferring title to the Subject Leases,
      such
      Assignments to be in the form attached hereto as Exhibit “C”. In the event of a
      conflict in the terms and conditions of the Note and this Agreement, this
      Agreement shall govern.

    

    4.
      In the
      event that Ignis does not commence actual drilling operations on the first
      well
      on or before September 30, 2005, Ignis shall, without notice from Newton,
      deliver assignments of the interests acquired by Ignis hereunder to Newton,
      whereupon this Agreement shall terminate and be of no further force or effect
      on
      Newton and Ignis. 

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    5.
      The
      form of operating agreement attached hereto as Exhibit “D” shall govern all
      operations on the lands and interests covered by the Subject
      Leases.

    

    If
      this
      letter correctly describes your understanding and agreements with respect to
      the
      matters contained herein, please sign two (2) originals of this letter in the
      manner provided below and return one (1) to the undersigned, whereupon it will
      become binding upon our respective successors and assigns.

    

    
      	 	
              Very
                truly yours,

            
	 	 
	 	
              /s/
                Philipp Buschmann

            
	 	 
	 	
              Philipp
                Buschmann, CEO

            
	 	 
	
              AGREED
                TO AND ACCEPTED this the 22 day of April, 2005.

            
	 	 
	
              Newton
                Properties, Inc.

            	 
	 	 
	
              /s/
                David Craven

            	 
	
              By:
                David Craven

            	 
	 	 
	
              Its:
                CEO/Director

            	 

    

     

    2Exhibit 10.5

    
      

    

    ARGYLE
      ENERGY, INC.

    10777
      Westheimer

    Suite
      170

    Houston,
      Texas 77042

    Phone:
      (832) 358-3900

    Fax:
      (832) 358-3903

    September
      29, 2005

    Newton
      Properties, Inc. 

    Hjeltke
      Rd.

    Ajeltake
      Island

    Majuro,
      Marshall Island 

    Majuro,
      MH 96960

    

    Mike
      Piazza

    Ignis
      Petroleum Corporation 

    100
      Crescent Court

    7th
      Floor

    Dallas
      Texas 75201

    

    Bayou
      City Exploration, Inc. f/k/a Blue Ridge Energy, Inc.

    10777
      Westheimer

    Suite
      170

    Houston,
      Texas 77024

    

    
      	
              RE:

            	
              Amendment
                to Letter Agreement, Barnett Crossroads Prospect Area, Escarnbia
                County,
                Alabama

            

    

    

    Gentlemen:

    

    Reference
      is made to that certain letter agreement (the "Agreement") dated March 31,
      2005,
      executed by and between Argyle Energy, Inc. ("Argyle"), Newton Properties,
      Inc.
      ("Newton"), and Bayou City Exploration, Inc. f/k/a Blue Ridge Energy, Inc,
      ("BCE"), pertaining to the Barnett Crossroads Prospect Area, Escambia County,
      Alabama, as more particularly set forth in the Agreement.

    

    Unless
      otherwise noted herein, all capitalized terms used herein shall have the
      meanings given such terms in the Agreement and the Joint Operating Agreement
      ("JOA") attached as Exhibit B to the Agreement.

    

    For
      good
      and adequate consideration exchanged between the parties, the receipt and
      sufficiency of which is hereby acknowledged and confessed by the parties, the
      Agreement is amended as follows:

    

    
      	 	
              ·

            	
              Ignis
                Petroleum Corporation ("Ignis”) represents that is has acquired all of the
                right, title and interest, and obligations of Newton in and under
                the
                Agreement.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	
              ·

            	
              Ignis
                shall have until March 31, 2006, to spud the Initial Well on the
                Prospect.
                In the event the Initial Well is not spud on or before March 31,
                2006,
                Ignis shall reassign all of the right, title and interest acquired
                under
                the Agreement to Argyle. The "second payment" as referenced and described
                in the Agreement shall be paid to Argyle on or before September 30,
                2005.

            

    

    

    
      	 	
              ·

            	
              Under
                no circumstance, and notwithstanding anything contrary in the JOA,
                BCE
                shall have no obligation to propose the Initial Well, determine its
                location, determine its depth. or determine by which date it will
                be
                commenced.

            

    

    

    
      	 	
              ·

            	
              BCE
                shall have no obligation to perform any operations on the Prospect
                Area
                until such time as Ignis has fully satisfied its escrow obligations
                as
                provided in the Agreement.

            

    

    

    
      	 	
              ·

            	
              It
                is acknowledged and agreed that BCE commenced its obligations under
                paragraph 12 of the Agreement on September 1, 2005, and therefore
                Ignis's
                payment obligations of $10,000,00 per month and per well, as described
                in
                paragraph 12 of the Agreement, arose on September 1,
                2005.

            

    

    

    This
      amendment to the Agreement may be executed in two or more counterparts, each
      of
      which shall be deemed an original, but all of which together shall constitute
      one and the same document.

    

    A
      the
      foregoing corresponds to your understanding of the amendment to the Agreement,
      please indicate your acceptance in the space provided below and return a fully
      executed copy hereof to me for my files.

    

    Sincerely,

    

    ARGYLE
      ENERGY, INC.

    

    
      	
              By:

            	
              /s/Keith
                Irwin

            	 

    

    

    Title:
      President

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    AGREED
      AND ACCEPTED THIS 29TH DAY OF SEPTEMBER, 2005. 

    

    IGNIS
      PETROLEUM CORPORATION

    

    
      	
              By:

            	
              /s/
                Michael P. Piazza

            	 

    

    

    Title:
      President & CEO

    

    BAYOU
      TITLE EXPLORATION F/K/A BLUE RIDGE ENERGY, INC. 

    

    
      	
              By:

            	
              /s/
                Harry Peters

            	 

    

    

    Title:
      SR
      VP

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