Document:

subscrptnagrmt Ex 4-2

SUBSCRIPTION AGREEMENT

BAROLA OIL & GAS CO. INC.

BAROLA OIL & GAS CO. INC., a Nevada corporation with its principal office at 852 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1C8 (hereinafter the "Company") and the undersigned (hereinafter the "Subscriber") agree as follows:

WHEREAS:

A. The Company desires to issue a maximum of 3,000,000 shares of common stock of the Company at a price of $0.15 per share (hereinafter the "Shares"); and

B. The Subscriber desires to acquire the number of Shares set forth on the signature page hereof.

NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set-forth, the parties hereto do hereby agree as follows:

SUBSCRIPTION FOR SHARES

1.1  Subject to the terms and conditions hereinafter set-forth, the Subscriber hereby subscribes for and agrees to purchase from the Company such number of Shares as is set-forth upon the signature page hereof at a price equal to $0.15 per share, and the Company agrees to sell such shares to the Subscriber for said purchase price subject to the Company's right to sell to the Subscriber such lesser number of shares as it may, in its sole discretion, deem necessary or desirable. Upon execution, this subscription shall be irrevocable by the Subscriber.

1.2  In order to purchase any of the shares being offered, an investor must complete and sign the Subscription Agreement that is attached to this Prospectus and return the original to Henry Starek, 852 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1C8. Payment, if made by a personal check, cashier’s check or money order, shall be for the full purchase price of $0.15 per share and made payable to "Barola Incorporated." 

1.3  Any acceptance by the Company of the Subscriber is conditional upon compliance with all securities laws and other applicable laws of the jurisdiction in which the Subscriber is resident. Each Subscriber will deliver to the Company all other documentation, agreements, representations and requisite government forms required by the lawyers for the Company as required to comply with all securities laws and other applicable laws of the jurisdiction of the Subscriber. 

REPRESENTATIONS AND WARRANTIES BY SUBSCRIBER

2.1  Subscriber hereby severally represents and warrants to the Company the following:

 

    (A)     the Subscriber recognizes that the purchase of Shares subscribed to herein involves a high degree of risk and the Company may require substantial 

                       funds in addition to the proceeds of this prospectus (the "Prospectus"); 

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    (B)     an investment in the Company is highly speculative and only investors who can afford the loss of their entire investment should consider investing in 

              the Company and the Shares;

  

   (C)     the Subscriber has been delivered a Prospectus furnished by the Company to the Subscriber and has had full opportunity to review the Prospectus 

              prior to execution of this Subscription Agreement; and

    

    (D)    the Subscriber has full power and authority to enter into this Agreement which constitutes a valid and legally binding obligation, enforceable in 

             accordance with its terms;

REPRESENTATIONS BY THE COMPANY

3.1   The Company represents and warrants to the Subscriber that:

     (A)    The Company is a corporation duly organized, existing and in good standing under the laws of the State of Nevada and has the corporate power 

               to conduct the business which it conducts and proposes to conduct.

     (B)    Upon issue, the Shares will be duly and validly issued, fully paid and non-assessable.

TERMS OF SUBSCRIPTION

4.1  Once this subscription is accepted by the Company, all funds paid hereunder shall be immediately available to the Company. In the Event the subscription is not accepted, the subscription funds will be immediately returned to the Subscriber by the Company.

4.2     The Subscriber hereby authorizes and directs the Company to deliver the securities to be issued to such Subscriber pursuant to this Subscription Agreement to the Subscriber’s address indicated below.

MISCELLANEOUS

5.1      Any notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified mail, return receipt requested, addressed to the Company, at its principal office, 852 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1C8, Attention: Mr. Henry Starek, and to the Subscriber at his address indicated on the last page of this Subscription Agreement. Notices shall be deemed to have been given on the date of mailing, except notices of change of address, which shall be deemed to have been given when received.

5.2      Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed in accordance with and governed by the laws of the State of Nevada.                                                        

5.3     The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Subscription Agreement.

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5.4      The Subscriber agrees to notify the Company immediately if any of the foregoing statements made herein shall become untrue.

IN WITNESS WHEREOF, this Subscription Agreement is executed as of the ___day of ________ 2004.

Number of Shares Subscribed For:   __________________________________________

Dollar Amount:                                 __________________________________________

 

Signature of Subscriber:                    __________________________________________

 

Name of Subscriber:                         __________________________________________

 

Address of Subscriber:                     __________________________________________

 

Subscriber’s Social Security No.

or Tax Identification No.                   __________________________________________

 

 

ACCEPTED BY: BAROLA OIL & GAS CO. INC.

Signature of Authorized Signatory:            __________________________________

Name of Authorized Signatory:     __________________________________

Position of Authorized Signatory:              __________________________________  

Date of Acceptance:                                __________________________________    

 

	 	3loanfcltyagrmt Ex 10-1

                                                                      THIS AGREEMENT made this 20th day of December 2002.

BETWEEN:

                                                                       BAROLA OIL & GAS CO. INC.

                                                                       a corporation incorporated under the laws of the State of Nevada

 

                                                                                               Hereinafter called the "Debtor"

 

                                                                                                                                                                                             OF THE FIRST PART;

                                                                                                                - and -

                                                                       HENRY STAREK

                                                                       An individual residing in Vancouver British Columbia, Canada

Hereinafter called the "Lender"

 

                                                                                                                                                                                             OF THE SECOND PART.

WHEREAS the Lender and Debtor have agreed to a credit facility that allows the Debtor to drawn upon the facility to a maximum amount of USD $100,000.

AND WHEREAS the loan shall be payable upon demand, be unsecured and shall bear interest at the rate of 8% per annum on all sums drawn down upon;

NOW THIS AGREEMENT WITNESSETH that in consideration of the credit facility being granted and the promise of the Debtor to repay the loan in the amount of monies advanced pursuant to the facility, the parties hereby covenant and agree as follows:

1.0      AMOUNT AND ADVANCEMENT

 

           1.1     The Lender shall make available to the Debtor a line of credit in the amount of USD $100,000 for use in its business;

 

           1.2     The Debtor may drawn upon this line of credit from time to time as it sees fit and after giving notice for the advancement of funds;
 

           1.3     The Debtor shall give the Lender seven (7) days notice of its request for the advancement of the funds;

           1.4     The Lender shall advance the requested funds to the Debtor upon receipt of the notice requesting the advancement of funds within seven (7) days.

2.0      NATURE OF THE CREDIT FACILITY

           2.1     This credit facility shall be in the nature of a demand loan, payable by the Debtor to the Lender thirty (30) days after the Lender demands payment 

                     of the amounts advanced pursuant to this agreement;

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          2.2     The said demand shall be in writing and addressed to the Debtor at its address  indicated in this agreement;

          2.3     This credit facility shall have no security issued or taken against the amounts advanced; 

 

          2.4     This credit facility shall bear interest at the rate of 8% per annum on the principal amount drawn down and remaining unpaid, after as well as before 

                    demand or maturity or default, calculated on an annual basis (on the basis of a year of 365 days for the actual number of days elapsed);

 

3.0      NOTICE

          

           3.1     All correspondence and notices to the Debtor shall be delivered to:

                     852 West Hastings Street

                     Vancouver, British Columbia

                     Canada, V6C 1C8

 

           3.2     All correspondence and notices to the Lender shall be delivered to:

                     4300 West 9th Avenue

                     Vancouver, British Columbia

                     Canada, V6R 2C7

4.0      JURISDICTION    

 

           4.1      This agreement shall be governed by the laws of British Columbia, Canada and each party shall attorn to that countries jurisdiction and courts to 

                       resolve all disputes;

 

          4.2         All actions and proceedings and their defence shall be commenced in British Columbia, Canada.

 

5.0     TIME 

 

          5.1         Time shall be of the essence.

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6.0     CORPORATE ACTION

          6.1      The parties hereto agree and acknowledge that they have taken all corporate action necessary to have this agreement properly executed by the 

                     corporation and represent that it is binding on the corporation.

IN WITNESS WHEREOF the parties have hereunto set their hands and seals by the positive act of their officers.

                                                                                                                           BAROLA OIL & GAS CO. INC.

_______________________________________                                              Per:         /s/ Henry Starek              

Witness

                                                                                                                            HENRY STAREK

______________________________________                                                /s/ Henry Starek                             

Witness

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