Document:

Unassociated Document

    Exhibit
      10.02

    

    REGISTRATION
      AGREEMENT

    

    

    This
      Agreement is entered into as of this 26th day of February, 2007, by and between
      Triangle Petroleum Corporation, a Nevada corporation (“Company”), and the
      persons designated as the investors on the signature pages of this Agreement
      (“Investors”). 

     

    WHEREAS,
      Investors have agreed to purchase from the Company the number of shares of
      common stock of the Company that is indicated on the signature pages of the
      respective Investors (in the aggregate, the “Shares”), pursuant to a Securities
      Purchase Agreement dated as of the date set forth on the Company’s signature
      page to this Agreement (“Securities Purchase Agreement”); 

     

    WHEREAS,
      as an inducement to the Investors to purchase the Shares, the Company has agreed
      to file, at its own expense, a registration statement covering resales of the
      Shares by the Investors in non-underwritten transactions; and 

     

    WHEREAS,
      the Investors and the Company desire to enter into this Agreement providing
      for
      matters relating to such registration;

     

    NOW,
      THEREFORE, in consideration of the mutual agreements contained herein, and
      for
      other good and valuable consideration, the receipt and sufficiency of which
      are
      hereby acknowledged, the Investors and the Company agree as
      follows:

     

    1. Filing
      of Registration Statement.
      The
      Company shall file a shelf registration statement under the Securities Act
      of
      1933, as amended (“Act”), on Form SB-2 (subject to the last sentence of this
      Section 1) to register resales or other dispositions of Registrable Securities
      by Investors in non-underwritten transactions (“Registration Statement”). The
      Company shall file the Registration Statement as soon as practicable after
      the
      date hereof and in no event more than 30 days thereafter, and such Registration
      Statement shall not include any securities other than Registrable Securities.
      “Registrable Securities” means all of the Shares, together with any shares of
      Common Stock (as defined in the Securities Purchase Agreement) issued or
      issuable with respect to the Shares as a result of any stock split, dividend
      or
      other distribution, recapitalization or similar event with respect to the
      Shares. In the event that Form SB-2 is not available for the registration of
      the
      resale of Registrable Securities hereunder, the Company shall (i) register
      the
      resale of the Registrable Securities on another appropriate form reasonably
      acceptable to the holders of at least a majority of the Registrable Securities
      and (ii) undertake to register the Registrable Securities on Form SB-2 as soon
      as such form is available, provided that the Company shall maintain the
      effectiveness of the Registration Statement then in effect until such time
      as a
      Registration Statement on Form SB-2 covering the Registrable Securities has
      been
      declared effective by the Commission (as defined below).

     

    
      
        
        

      

      
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    2. Effectiveness
      of Registration Statement.
      The
      Company shall use its best efforts to cause the Registration Statement to become
      effective under the Act as soon as practicable after the filing of the
      Registration Statement. In addition, the Company shall file,
      during the
      period specified in Section 7(i),
      a post
      effective amendment to the
      Registration Statement containing
      the information required by Regulation S-K, Item 512(a)(1)(i)-(iii). In the
      event that during the period specified in Section 7(i), the Company ceases
      to be
      eligible to use Form SB-2, the Company will promptly file a new registration
      statement on the form for which it is then eligible.

     

    3. State
      Registration or Qualification.
      The
      Company shall use its best efforts to register or qualify the Registrable
      Securities covered by the Registration Statement for public sale under the
      securities or blue sky laws of the respective states of principal residence
      of
      the Investors and such other states that are reasonably designated by any of
      them in writing as a state in which sales of the Registrable Securities may
      be
      made, if such registration or qualification is necessary; provided, however,
      that the Company shall not be required by this Section 3 to qualify to do
      business as a foreign corporation or otherwise to subject itself to taxation
      therein, or to file any general consent to service of process in any
      state.

     

    4. Delivery
      of Prospectuses; Suspension of Sales.
      The
      Company shall provide to the Investors the number of prospectuses relating
      to
      the Registrable Securities as the Investors shall each reasonably request to
      enable the Investors to comply with any applicable prospectus delivery
      requirements. If, during the effectiveness of the Registration Statement, an
      intervening event should occur that, in the good faith opinion of the Company’s
      Board of Directors and the Company’s counsel, makes the prospectus included in
      the Registration Statement no longer comply with the Act, after notice from
      the
      Company to the Investors of the occurrence of such an event, the Investors
      shall
      make no further sales or other dispositions, or offers therefor, of Registrable
      Securities under the Registration Statement until they receive from the Company
      notice that sales and dispositions, and offers therefor, may resume and, if
      the
      prospectus has been changed other than by the filing of a report that is
      incorporated therein by reference without any other revision, copies of a new,
      amended or supplemented prospectus complying with the Act, unless the
      Commission’s rules do not then require physical delivery of such new, amended or
      supplemented prospectus. The Company shall keep the Investors fully informed
      as
      to the status of its efforts, which shall be prompt and diligent, to cause
      such
      new, amended or supplemented prospectus to be available for use by the
      Investors, in each such case as soon as practicable and in no event more than
      25
      days following such notice.

     

    5. Expenses
      of Registration.
      The
      Company shall bear all of the expenses of registration or qualification of
      the
      Registrable Securities under the Act and under the state securities or blue
      sky
      laws as provided in Section 3 hereof; provided, however, that each Investor
      shall bear its own selling expenses or commissions attributable to the
      Registrable Securities being sold by such Investor and shall bear fees and
      expenses of its own counsel, if any.

     

    
      
        
        

      

      
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    6. Information
      to be Furnished by Investor.
      Each
      Investor shall furnish in writing to the Company all information within such
      Investor’s possession or knowledge required by the applicable rules and
      regulations of the Securities and Exchange Commission (“SEC or Commission”),
      including the information specified by Items 507 and 508 of Regulation S-K
      under
      the Act.

     

    7. Procedures.
      The
      Company shall (a) notify the Investors by the end of the business day following
      the day on which it receives notice thereof, of the time when the Registration
      Statement has become effective or any supplement to any prospectus forming
      a
      part of the Registration Statement has been filed; (b) notify the Investors
      promptly of any request by the Commission for the amending or supplementing
      of
      the Registration Statement or prospectus or for additional information and
      shall
      use its best efforts to file any such amendment or supplement within 10 days,
      and in no event more than 20 days, after such request or receipt of comments
      from the Commission’s staff (adding to each such number of days any delay
      exceeding five days caused by the Investors in submitting, following written
      request therefor made by the Company, any information required from them to
      prepare such amendment or supplement); (c) prepare and file with the Commission,
      promptly upon any Investor’s request, any amendment or supplement to such
      registration statement or prospectus which, in the opinion of counsel for the
      Investor and counsel for the Company, may be necessary or desirable in
      connection with the distribution of the Registrable Securities by such Investor;
      (d) prepare and promptly file with the Commission, and promptly notify the
      Investors of the filing of, such amendment or supplement to the Registration
      Statement or prospectus as may be necessary to correct any misstatement or
      omission, if at any time when a prospectus relating to the Registrable
      Securities is required to be delivered under the Act, any event shall have
      occurred as a result of which any such prospectus would include an untrue
      statement of a material fact or omit to state any material fact necessary to
      make the statements therein not misleading and such filing shall be made
      promptly by the Company but in no event later than the time limitation set
      forth
      in Section 4; (e) in case the Investor is required to deliver a prospectus,
      at a
      time when the prospectus then in effect may no longer be used under the Act,
      prepare promptly upon request such amendment or amendments to the Registration
      Statement and such prospectus or prospectuses as may be necessary to permit
      compliance with the requirements of Section 10 of the Act subject to clause
      (i)
      below; (f) not file any amendment or supplement to the Registration Statement
      or
      prospectus to which any Investor shall reasonably object after having been
      furnished a copy at a reasonable time prior to the filing thereof; (g) advise
      the Investors promptly after it shall receive notice or obtain knowledge thereof
      of the issuance of any stop order by the Commission suspending the effectiveness
      of the Registration Statement or the initiation or threatening of any proceeding
      for that purpose and promptly use its best efforts to prevent the issuance
      of
      any stop order or to obtain its withdrawal if such stop order should be issued;
      (h) furnish to the Investors as soon as available copies of the Registration
      Statement and each preliminary or final prospectus, or supplement required
      to be
      prepared, pursuant to Section 4 or this Section 7, all in such quantities as
      the
      Investors may from time to time reasonably request; (i) keep the Registration
      Statement effective for a period of two years from the Closing Date plus a
      number of days equal to the number of days, if any, during which the Investors’
right to offer and sell such Registrable Securities shall have been suspended
      pursuant to the provisions of Section 4 hereof (which number of days shall
      in no
      event exceed 60 days during any period of 12 months), or until the intended
      distribution of Registrable Securities is completed by all Investors, whichever
      occurs first; and the Company may after such period deregister any of the
      Registrable Securities remaining unsold if the Company elects to do so or if
      the
      Commission or its staff so requests; and (j) if any of the Company’s shares of
      common stock are then listed on any securities exchange(s) or Nasdaq, the
      Company will cause all shares covered by the Registration Statement to be listed
      on such exchange(s) or Nasdaq, as the case may be. By 9:30 am Eastern Time
      on
      the business day following the Effective Date (as defined in the Securities
      Purchase Agreement), the Company shall file with the Commission in accordance
      with Rule 424 under the Act the final prospectus to be used in connection with
      sales pursuant to such Registration Statement. The Company shall promptly
      furnish to each Investor that so requests in writing and its legal counsel,
      without charge, copies of any correspondence from the SEC or the staff of the
      SEC to the Company or its representatives relating to the Registration
      Statement, the prospectus contained therein or any amendment or supplement
      to
      either of them.

     

    
      
        
        

      

      
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    8. Registration
      Default.
      The
      Company agrees that (i) if the Registration Statement has not been filed within
      30 days after the date of this Agreement, (ii) if the Registration Statement
      has
      not been amended to address comments of the staff of the SEC that require an
      amendment or a request of the SEC or such staff for an amendment, within 30
      days
      following the Company’s receipt of any such comments or request (subtracting
      from such number of days any number of days, but not exceeding 30 days, during
      which the Company has failed to use reasonable efforts to prepare and file
      such
      amendment; and adding to such number of days any delay exceeding 10 days caused
      by the Investors in submitting, following written request therefor made by
      the
      Company, any information required from them to prepare such amendment), (iii)
      if
      the Registration Statement has not, in the event of a “no review” or “limited
      review” of the Registration Statement by the SEC, been declared effective by the
      SEC within 60 days after the date of this Agreement, (iv) if the Registration
      Statement has not, in any event, been declared effective by the SEC within
      120
      days after the Closing Date, (v) if the Company fails to file with the SEC
      a
      request for acceleration in accordance with Rule 461 under the Securities Act
      within five business days of the date the Company is first notified (orally
      or
      in writing, whichever is earlier) by the Commission that the Registration
      Statement will not be reviewed or that it is not subject to any further review,
      or (vi) if (1) the Company suspends sales or dispositions and offers therefor
      of
      the Registrable Securities in accordance with Section 4 or (2) on any day after
      the date the Registration Statement is initially declared effective by the
      SEC
      sales of all the Registrable Securities required to be included in such
      Registration Statement cannot be made pursuant to such Registration Statement
      including, without limitation, because of a failure to keep such Registration
      Statement effective, to disclose such information as is necessary for sales
      to
      be made pursuant to such Registration Statement, to register sufficient shares
      of Common Stock or to list or maintain the listing of the Common Stock
      (including the Registrable Securities), in each case described in clause (1)
      or
      clause (2) immediately above, for more than an aggregate of 60 days during
      any
      period of 12 months (each such event referred to in clause (i), (ii), (iii),
      (iv), (v) or (vi), a “Registration Default”), then the Company will pay to each
      Investor, as liquidated damages and not as a penalty, in cash, an amount equal
      to one percent (1%) of the aggregate amount invested by such Investor under
      the
      Securities Purchase Agreement for each 30-day period, or portion thereof, that
      a
      Registration Default exists under clause (i), (ii), (iii) , (iv), (v) or (vi),
      above, but liquidated damages shall not be duplicated on account of multiple
      Registration Defaults existing simultaneously and shall not exceed an aggregate
      of 10%. Accordingly, if two or more Registration Defaults exist simultaneously,
      there shall nevertheless be only one accrual of liquidated damages during the
      period of such simultaneous Registration Defaults. Such payments of liquidated
      damages shall be made on the first day of each calendar quarter with respect
      to
      penalties accrued during the preceding calendar quarter. If the Company fails
      to
      make any such payments on the dates set forth above, such payments shall bear
      interest at the rate of 10% per annum until paid in full.

     

    
      
        
        

      

      
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    Subject
      to the Investor’s right to specific performance, but otherwise notwithstanding
      anything to the contrary in this Agreement or the Securities Purchase Agreement,
      the Company’s payment of liquidated damages as provided in this Section 8 shall
      be the Investor’s sole and exclusive remedy in the event of any Registration
      Default; provided, however, that if the foregoing remedy is deemed unenforceable
      by a court of competent jurisdiction, or if the Registration Default is caused
      by the bad faith or willful misconduct of the Company in complying with its
      obligations under this Agreement, then the Investor shall have all other
      remedies available at law or in equity.

     

    9. Indemnification
      by Company.
      The
      Company will, to the maximum extent permitted by law, indemnify and hold
      harmless the Investors, the directors, officers, partners, members, employees,
      agents, representatives of, and each Person (as defined in the Securities
      Purchase Agreement), if any, who controls an Investor within the meaning of
      the
      Act, against any losses, claims, damages, or liabilities, joint or several,
      to
      which such Investor or such other Person may become subject, under the Act
      or
      otherwise, insofar as such losses, claims, damages or liabilities (or actions
      in
      respect thereof) are caused by any untrue statement or alleged untrue statement
      of any material fact contained in the Registration Statement, any prospectus
      relating thereto, or any amendment or supplement thereof, or arising out of
      or
      based upon the omission or alleged omission to state therein a material fact
      required to be stated therein or necessary to make the statements therein not
      misleading or a violation or alleged violation by the Company of: (i) the
      Securities Act, (ii) the Exchange Act (as defined in the Securities Purchase
      Agreement), (iii) any other law relating to the offer or sale of the Registrable
      Securities pursuant to the Registration Statement (including, without
      limitation, any state securities law or any rule or regulation thereunder),
      (iv)
      any prospectus relating thereto, or (v) any amendment or supplement thereof;
      and
      will reimburse such Investor and each such other Person for any legal or other
      expenses incurred by such Investor or such other Person in connection with
      investigating or defending against any such loss, claim, damage, liability
      or
      action; provided, however, that the Company will not be liable in any such
      case
      to an Investor or such other Person to the extent that any such loss, claim,
      damage, expense or liability arises out of, or is based upon, an untrue
      statement or alleged untrue statement or omission or alleged omission so made
      in
      reliance upon and in conformity with information that has been furnished in
      writing by such Investor in accordance with Section 6 expressly for use in
      connection with the preparation of the Registration Statement; provided further,
      that the Company shall not be required to provide such indemnification to such
      Investor or such other Person if such loss, claim, damage or liability (or
      action in respect thereof) arises out of or is based upon an untrue statement
      or
      alleged untrue statement or omission or alleged omission made in any preliminary
      prospectus and if, in respect to such statement, alleged statement, omission
      or
      alleged omission, the final prospectus corrected such statement, alleged
      statement, omission or alleged omission and a copy of such final prospectus
      had
      not been sent or given by such Investor or such other Person (but only if they
      were required to do so under applicable law) at or prior to the confirmation
      of
      the sale by such Investor or such other Person with respect to which such loss,
      claim, damage, expense or liability relates. The Company shall reimburse each
      Investor and each such other Persons, promptly as such expenses are incurred
      and
      are due and payable, for any legal fees or other reasonable expenses incurred
      by
      them in connection with investigating or defending any such loss, claim, damage,
      expense or liability.

     

    
      
        
        

      

      
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    10. Indemnification
      by Investors.
      Each
      Investor shall (severally and not jointly), to the maximum extent permitted
      by
      law, indemnify and hold harmless the Company, each of its directors, each of
      its
      officers who has signed the Registration Statement, and each employee, agent,
      representative of and each Person, if any, who controls the Company, within
      the
      meaning of the Act, against any loss, claim, damage or liability of which the
      Company, or any such director, officer or other Person may be or become subject
      under the Act or otherwise, insofar as such loss, claim, damage or liability
      (or
      action in respect thereof) is caused by any untrue or alleged untrue statement
      of any material fact contained in the Registration Statement, such prospectus,
      or amendment or supplement thereof, or arises out of or is based upon the
      omission or the alleged omission to state therein a material fact required
      to be
      stated therein or necessary to make the statements therein not misleading;
      in
      each case to the extent, but only to the extent, that such untrue statement
      or
      alleged untrue statement or omission or alleged omission relates to the
      information that has been furnished in writing by such Investor in accordance
      with Section 6 expressly for use in connection with the preparation of the
      Registration Statement; provided, however, that the indemnity agreement
      contained in this Section 10 and the agreement with respect to contribution
      contained in Section 12 shall not apply to amounts paid in settlement of any
      such loss, claim, damage, expense or liability if such settlement is effected
      without the prior written consent of such Investor, which consent shall not
      be
      unreasonably withheld or delayed.

     

    11. Notice
      to Indemnitor.
      Promptly after receipt by an indemnified party of notice of the commencement
      of
      any action, claim or proceeding, such indemnified party will, if a claim thereof
      is to be made against the indemnifying party pursuant hereto, notify the
      indemnifying party in writing of the commencement thereof, but the omission
      to
      notify the indemnifying party will not relieve it from any liability which
      it
      may have to any indemnified party except to any extent to which the indemnifying
      party is actually prejudiced thereby. In case such action, claim or proceeding
      is brought against any indemnified party, and it notifies the indemnifying
      party
      in writing of the commencement thereof, the indemnifying party will be entitled
      to participate in, and, to the extent that it may wish, jointly with any other
      indemnifying party, similarly notified, to assume the defense thereof, with
      counsel reasonably satisfactory to such indemnified party; provided, however,
      that an indemnified party shall have the right to retain its own counsel with
      the fees and expenses of such counsel for such indemnified party to be paid
      by
      the indemnifying party, if (i) the employment thereof has been specifically
      authorized by the indemnifying party in writing, (ii) the indemnifying party
      has
      failed after a reasonable period of time to assume such defense and to employ
      counsel reasonably satisfactory to such indemnified party or (iii) in the
      reasonable opinion of the indemnified party the representation by counsel of
      the
      indemnified party and the indemnifying party would be inappropriate due to
      actual or potential differing interests between such indemnified party and
      any
      other party represented by such counsel in such proceeding. The indemnified
      party shall cooperate fully with the indemnifying party in connection with
      any
      negotiation or defense of any such action, claim or proceeding by the
      indemnifying party and shall furnish to the indemnifying party all information
      reasonably available to the indemnified party which relates to such action,
      claim or proceeding. The indemnifying party shall keep the indemnified party
      fully apprised at all times as to the status of the defense or any settlement
      negotiations with respect thereto. No indemnifying party shall be liable for
      any
      settlement of any action, claim or proceeding effected without its prior written
      consent, provided, however, that the indemnifying party shall not unreasonably
      withhold, delay or condition its consent. No indemnifying party shall, without
      the prior written consent of the indemnified party, consent to entry of any
      judgment or enter into any settlement or other compromise which does not include
      as an unconditional term thereof the giving by the claimant or plaintiff to
      such
      indemnified party of a release from all liability in respect to such action,
      claim or proceeding.

     

    
      
        
        

      

      
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    12. Contribution.
      If the
      indemnification provided for in Section 9 or Section 10 is unavailable to an
      indemnified party thereunder in respect to any losses, claims, damages,
      liabilities or expenses referred to therein, then an indemnifying party, in
      lieu
      of indemnifying such indemnified party, shall contribute to the amount paid
      or
      payable by such indemnified party as a result of such losses, claims, damages,
      liabilities or expenses in such proportion as is appropriate to reflect the
      relative fault of the Company, on the one hand, and the Investor(s), on the
      other hand, in connection with the statements or omissions that resulted in
      such
      losses, claims, damages, liabilities or expenses. The relative fault of the
      Company and the Investor(s) in connection with the statements that resulted
      in
      such losses, claims, damages, liabilities or expenses shall be determined by
      reference to, among other things, whether the untrue or alleged untrue statement
      of material facts or the omission or alleged omission to state a material fact
      relates to information supplied by the Company or the Investor(s) and the
      parties’ relative intent, knowledge, access to information and opportunity to
      correct such statement or omission; provided, however, that no Person involved
      in the sale of Registrable Securities who is guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the 1933 Act) in
      connection with such sale shall be entitled to contribution from any Person
      involved in such sale of Registrable Securities who was not guilty of fraudulent
      misrepresentation.

     

    13. Indemnification
      Limitation and Continuation.
      Notwithstanding any other provision of this Agreement, the liability of any
      Investor for indemnification or contribution under this Agreement shall not
      exceed an amount equal to the number of shares of Registrable Securities sold
      by
      such Investor under the Registration Statement multiplied by the net amount
      per
      share received in such sale(s). The indemnification and contribution provided
      for under this Agreement shall remain in full force and effect regardless of
      any
      investigation made by or on behalf of the indemnified party or any officer,
      director or controlling person of such indemnified party and shall survive
      the
      transfer of securities.

     

    
      
        
        

      

      
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    14. Notices.
      All
      notices required or permitted to be given pursuant to this Agreement shall
      be in
      writing and shall be deemed given when received when delivered personally or,
      by
      facsimile, by overnight courier or by first class mail, postage prepaid,
      registered or certified with return receipt request, at the addresses set forth
      on the signature page or at such other address as any party shall designate
      in
      writing to the other.

     

    15. Governing
      Law; Counterparts.
      This
      Agreement shall in all respects be governed by and construed and enforced in
      accordance with the laws of the State of New York. It may be executed in any
      number of counterparts.

     

    16. Assignment.
      At any
      time the Registration Statement is not available, the rights under this
      Agreement shall be automatically assignable by each Investor to any transferee
      of all or any portion of such Investor’s Registrable Securities if such
      Investor’s rights in the Registrable Securities can otherwise be transferred in
      accordance with Section 4.1(a) of the Securities Purchase Agreement and all
      applicable securities laws, and if: (i) such Investor agrees in writing with
      the
      transferee or assignee to assign such rights, and the transferee or assignee
      agrees to be bound by all provisions of this Agreement and the Securities
      Purchase Agreement, and a copy of such agreement is furnished to the Company
      within a reasonable time after such assignment; (ii) the Company is, within
      five
      business days after such transfer or assignment, furnished with written notice
      of (a) the name and address of such transferee or assignee, and (b) the
      securities with respect to which such registration rights are being transferred
      or assigned; (iii) as a part of such transfer or assignment the further
      disposition of such securities by the transferee or assignee is restricted
      under
      the Securities Act and applicable state securities laws; and (iv) such transfer
      shall have been made in accordance with the applicable requirements of the
      Securities Purchase Agreement.

     

    17. Amendments;
      Waivers.
      No
      provision of this Agreement may be waived or amended except in a written
      instrument signed, in the case of an amendment, by the Company and each Investor
      or, in the case of a waiver, by the party against whom enforcement of any such
      waiver is sought. No waiver of any default with respect to any provision,
      condition or requirement of this Agreement shall be deemed to be a continuing
      waiver in the future or a waiver of any subsequent default or a waiver of any
      other provision, condition or requirement hereof, nor shall any delay or
      omission of either party to exercise any right hereunder in any manner impair
      the exercise of any such right.

     

    [signature
      pages follow]

     

     

    
      
        
        

      

      
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    Company
      Signature Page to

    Triangle
      Petroleum Corporation

    Registration
      Agreement

    Dated
      _____________, 2007

    

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      date
      above set forth.

    

    “COMPANY”

    

    TRIANGLE
      PETROLEUM

    CORPORATION

    

    

    By: _________________________________     

    Name: ________________________

    Title:  
      ________________________

    

    

    Address
      for Notice:

    

    Triangle
      Petroleum Corporation

    521-3
      SW,
      Suite 1110

    Calgary,
      Alberta

    Canada
      T2P 3T3

    Attention:
      Mr. Mark G. Gustafson

    President,
      CEO, & Chairman

    Fax:
      (604) 688-1320

    

    

    With
      a
      copy to (which shall not constitute notice):

    

    Sichenzia
      Ross
      Friedman
      Ference
      LLP

    1065
      Avenue of the Americas

    New
      York,
      NY 10018

    Attention:
      Mr. Thomas Rose

    Fax:
      (212) 930-9725

    
 

    
      
        
        

      

      
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    Investor
      Counterpart Signature Page to

    TRIANGLE
      PETROLEUM CORPORATION

    Registration
      Agreement

    Dated
      _____________, 2007

    

    

    “INVESTOR”

    

    

    Date
      of
      Securities Purchase Agreement,

    _________________,
      2007     
By: __________     

    Name: ___________________________

    Title:  
      ___________________________    

    

    Number
      of
      Shares: ___________                        Address:

    

     

     

     

    
      
        
        

      

      
        10EX 4.01

    This
      Note
      is a Global Security within the meaning of the Indenture hereinafter referred
      to
      and is registered in the name of the Depository named below or a nominee of
      the
      Depository. This Note is not exchangeable for Notes registered in the name
      of a
      Person other than the Depository or its nominee except in the limited
      circumstances described herein and in the Indenture, and no transfer of this
      Note (other than a transfer of this Note as a whole by the Depository to a
      nominee of the Depository or by a nominee of the Depository to the Depository
      or
      another nominee of the Depository) may be registered except in the limited
      circumstances described herein.

    

    Unless
      this certificate is presented by an authorized representative of The Depository
      Trust Company, a New York corporation (the "Depository"), to the Company or
      its
      agent for registration of transfer, exchange, or payment, and any certificate
      issued is registered in the name of Cede & Co. or in such other name as is
      requested by an authorized representative of the Depository (and any payment
      is
      made to Cede & Co. or to such other entity as is requested by an authorized
      representative of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF
      FOR
      VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered
      owner hereof, Cede & Co., has an interest herein.

    

    

    CITIGROUP
      INC.

    5.250%
      Notes due February
      27, 2012

    
      	
              REGISTERED

            	
              REGISTERED

            

    

    

    CUSIP:
      172967 DZ 1

    ISIN:
      US172967DZ12

    Common
      Code: 028792832

    

    
      	
              No.
                R-_____

            	
              $____________

            

    

    

    CITIGROUP
      INC., a Delaware corporation (the "Company", which term includes any successor
      Person under the Indenture), for value received, hereby promises to pay to
      Cede
& Co., or registered assigns, the principal sum of $____________ on
February
      27, 2012 and
      to
      pay interest thereon from and including February 27, 2007 or from the most
      recent Interest Payment Date to which interest has been paid or duly provided
      for, semi-annually, on February 27 and August 27 of each year, commencing August
      27, 2007, at the rate of 5.250% per annum, until the principal hereof is paid
      or
      made available for payment. The interest so payable, and punctually paid or
      duly
      provided for, on any Interest Payment Date will, as provided in the Indenture,
      be paid to the Person in whose name this Note is registered at the close of
      business on the Record Date for such interest, which shall be the February
      15
      and August 15 (whether or not a Business Day) immediately preceding such
      Interest Payment Date.

      
        
          
          

        

        
          -1-

          
            

          

        

        
          
          

        

      

    Any
      such
      interest not so punctually paid or duly provided for will forthwith cease to
      be
      payable to the holder on such Record Date and may either be paid to the Person
      in whose name this Note is registered at the close of business on a subsequent
      Record Date, such subsequent Record Date to be not less than five days prior
      to
      the date of payment of such defaulted interest, notice whereof shall be given
      to
      holders of Notes of this series not less than 15 days prior to such subsequent
      Record Date, or be paid at any time in any other lawful manner not inconsistent
      with the requirements of any securities exchange on which the Notes of this
      series may be listed, and upon such notice as may be required by such exchange,
      all as more fully provided in the Indenture.

    

    Interest
      hereon will be calculated on the basis of a 360-day year comprised of twelve
      30-day months.

    

    If
      either
      an Interest Payment Date or the Maturity of the Notes falls on a day that is
      not
      a Business Day, such Interest Payment Date or Maturity will be the next
      succeeding Business Day. If a date for payment of interest or principal on
      the
      Notes falls on a day that is not a business day in the place of payment, such
      payment will be made on the next succeeding business day in such place of
      payment as if made on the date the payment was due. No interest will accrue
      on
      any amounts payable for the period from and after the due date for payment
      of
      such principal or interest. 

    

    For
      these
      purposes, “Business Day” means any day which is a day on which commercial banks
      settle payments and are open for general business in The City of New
      York.

    

    Payment
      of the principal of and interest on this Note will be made at the office or
      agency of the Trustee maintained for that purpose in The City of New
      York.

    

    Reference
      is hereby made to the further provisions of this Note set forth on the reverse
      hereof, which further provisions shall for all purposes have the same effect
      as
      if set forth at this place.

    

    Unless
      the certificate of authentication hereon has been executed by the Trustee or
      by
      an authenticating agent on behalf of the Trustee by manual signature, this
      Note
      shall not be entitled to any benefit under the Indenture or be valid or
      obligatory for any purpose.

      
        
          
          

        

        
          -2-

          
            

          

        

        
          
          

        

      

    IN
      WITNESS WHEREOF, the Company has caused this instrument to be duly executed
      under its corporate seal.

    

    Dated:
      February 27, 2007

    

    CITIGROUP
      INC.

     

    By:_________________________________

    Title:
      Chief Financial Officer

    

    

    

    ATTEST:

    

    By:___________________________

    Title:
      Assistant Secretary

    

      
        
          
          

        

        
          -3-

          
            

          

        

        
          
          

        

      

    

     

    This
      is
      one of the Notes of the series issued under the within-mentioned
      Indenture.

    

    Dated:
      February
      27, 2007

    

    THE
      BANK
      OF NEW YORK,
as
      Trustee

     

     

    By:_________________________________

    Name:

    Title:

     

     

    -or-

     

     

    CITIBANK,
      N.A.,
as
      Authenticating Agent

     

     

    By:_________________________________

    Name:

    Title:

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    This
      Note
      is one of a duly authorized issue of Securities of the Company (the "Notes"),
      issued and to be issued in one or more series under the Indenture, dated as
      of
      March 15, 1987 (as amended and supplemented to date, the "Indenture"), between
      the Company and The Bank of New York, as Trustee (the "Trustee", which term
      includes any successor trustee under the Indenture), to which Indenture and
      all
      indentures supplemental thereto reference is hereby made for a statement of
      the
      respective rights, limitations of rights, duties and immunities thereunder
      of
      the Company, the Trustee and the holders of the Notes and of the terms upon
      which the Notes are, and are to be, authenticated and delivered. This Note
      is
      one of the series designated on the face hereof, initially limited in aggregate
      principal to $1,000,000,000.

    

    If
      an
      event of default (as defined in the Indenture) with respect to Notes of this
      series shall occur and be continuing, the principal of the Notes of this series
      may be declared due and payable in the manner and with the effect provided
      in
      the Indenture.

    

    The
      Indenture contains provisions for defeasance at any time of the entire
      indebtedness of this Note upon compliance by the Company with certain conditions
      set forth in Sections 11.03 and 11.04 thereof, which provisions apply to this
      Note.

    

    The
      Indenture contains provisions permitting the Company and the Trustee, without
      the consent of the holders of the Securities, to establish, among other things,
      the form and terms of any series of Securities issuable thereunder by one or
      more supplemental indentures, and, with the consent of the holders of not less
      than 66 2/3% in aggregate principal amount of Securities at the time outstanding
      which are affected thereby, to modify the Indenture or any supplemental
      indenture or the rights of the holders of Securities of such series to be
      affected, provided that no such modification will (i) extend the fixed maturity
      of any Securities, reduce the rate or extend the time of payment of interest
      thereon, reduce the principal amount thereof or the premium, if any, thereon,
      reduce the amount of the principal of Original Issue Discount Securities payable
      on any date, change the currency in which Securities are payable, or impair
      the
      right to institute suit for the enforcement of any such payment on or after
      the
      maturity thereof, without the consent of the holder of each Security so
      affected, or (ii) reduce the aforesaid percentage of Securities of any series
      the consent of the holders of which is required for any such modification
      without the consent of the holders of all Securities of such series then
      outstanding, or (iii) modify, without the written consent of the Trustee, the
      rights, duties or immunities of the Trustee.

    

    No
      reference herein to the Indenture and no provision of this Note or of the
      Indenture shall alter or impair the obligation of the Company, which is absolute
      and unconditional, to pay the principal of and interest on this Note at the
      times, place and rate, and in the coin or currency, herein
      prescribed.

    

    This
      Note
      is a Global Security registered in the name of a nominee of the Depository.
      This
      Note is exchangeable for Notes registered in the name of a person other than
      the
      Depository or its nominee only in the limited circumstances hereinafter
      described. Unless and until it is exchanged in whole or in part for definitive
      Notes in certificated form, this Note may not be

      
        
          
          

        

        
          -5-

          
            

          

        

        
          
          

        

      

    transferred
      except as a whole by the Depository to a nominee of the Depository or by a
      nominee of the Depository to the Depository or another nominee of the
      Depository.

    

    The
      Notes
      represented by this Global Security are exchangeable for definitive Notes in
      certificated form of like tenor as such Notes in denominations of $1,000 and
      whole multiples of $1,000 in excess thereof only if (i) the Depository
      notifies the Company that it is unwilling or unable to continue as Depository
      for the Notes or (ii) the Depository ceases to be a clearing agency registered
      under the Securities Exchange Act of 1934, as amended, or (iii) the Company
      in
      its sole discretion decides to allow the Notes to be exchanged for definitive
      Notes in registered form. Any Notes that are exchangeable pursuant to the
      preceding sentence are exchangeable for certificated Notes issuable in
      authorized denominations and registered in such names as the Depository shall
      direct. As provided in the Indenture and subject to certain limitations therein
      set forth, the transfer of definitive Notes in certificated form is registrable
      in the register maintained by the Company in The City of New York for such
      purpose, upon surrender of the definitive Note for registration of transfer
      at
      the office or agency of the registrar, duly endorsed by, or accompanied by
      a
      written instrument of transfer in form satisfactory to the Company and the
      registrar duly executed by, the holder thereof or his attorney duly authorized
      in writing, and thereupon one or more new Notes of this series and of like
      tenor, of authorized denominations and for the same aggregate principal amount,
      will be issued to the designated transferee or transferees. Subject to the
      foregoing, this Note is not exchangeable, except for a Global Security or Global
      Securities of this issue of the same principal amount to be registered in the
      name of the Depository or its nominee.

    

    No
      service charge shall be made for any such registration of transfer or exchange,
      but the Company may require payment of a sum sufficient to cover any tax or
      other governmental charge payable in connection therewith.

    

    Prior
      to
      due presentment of this Note for registration of transfer, the Company, the
      Trustee and any agent of the Company or the Trustee may treat the Person in
      whose name this Note is registered as the owner hereof for all purposes, whether
      or not this Note be overdue, and neither the Company, the Trustee nor any such
      agent shall be affected by notice to the contrary.

    

    The
      Company will pay additional amounts ("Additional Amounts") to the beneficial
      owner of any Note that is a non-United States person in order to ensure that
      every net payment on such Note will not be less, due to payment of U.S.
      withholding tax, than the amount then due and payable. For this purpose, a
      "net
      payment" on a Note means a payment by the Company or a paying agent, including
      payment of principal and interest, after deduction for any present or future
      tax, assessment or other governmental charge of the United States. These
      Additional Amounts will constitute additional interest on the Note.

    

    The
      Company will not be required to pay Additional Amounts, however, in any of
      the
      circumstances described in items (1) through (13) below.

      
        
          
          

        

        
          -6-

          
            

          

        

        
          
          

        

      

    
      	
            	(1)	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is imposed
                or
                withheld solely by reason of the beneficial
                owner:

            

    

    

    
      	 	 	
              (a)

            	
              having
                a relationship with the United States as a citizen, resident or
                otherwise;

            

    

    
      	 	 	
              (b)

            	
              having
                had such a relationship in the past
                or

            

    

    
      	 	 	
              (c)

            	
              being
                considered as having had such a
                relationship.

            

    

    

    
      	 	
              (2)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is imposed
                or
                withheld solely by reason of the beneficial
                owner:

            

    

    

    
      	 	
               

            	
              (a)

            	
              being
                treated as present in or engaged in a trade or business in the United
                States;

            

    

    
      	 	
               

            	
              (b)

            	
              being
                treated as having been present in or engaged in a trade or business
                in the
                United States in the past or

            

    

    
      	 	
               

            	
              (c)

            	
              having
                or having had a permanent establishment in the United
                States.

            

    

    

    
      	 	
              (3)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is imposed
                or
                withheld in whole or in part by reason of the beneficial owner being
                or
                having been any of the following (as such terms are defined in the
                Internal Revenue Code of 1986, as
                amended):

            

    

    

    
      	 	
               

            	
              (a)

            	
              personal
                holding company;

            

    

    
      	 	
               

            	
              (b)

            	
              foreign
                personal holding company;

            

    

    
      	 	
               

            	
              (c)

            	
              foreign
                private foundation or other foreign tax-exempt
                organization;

            

    

    
      	 	
               

            	
              (d)

            	
              passive
                foreign investment company;

            

    

    
      	 	
               

            	
              (e)

            	
              controlled
                foreign corporation or

            

    

    
      	 	
               

            	
              (f)

            	
              corporation
                which has accumulated earnings to avoid United States federal income
                tax.

            

    

    

    
      	 	
              (4)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is imposed
                or
                withheld solely by reason of the beneficial owner owning or having
                owned,
                actually or constructively, 10 percent or more of the total combined
                voting power of all classes of stock of the Company entitled to vote
                or by
                reason of the beneficial owner being a bank that has invested in
                a Note as
                an extension of credit in the ordinary course of its trade or
                business.

            

    

    

    For
      purposes of items (1) through (4) above, "beneficial owner" means a
      fiduciary, settlor, beneficiary, member or shareholder of the holder if the
      holder is an estate, trust, partnership, limited liability company, corporation
      or other entity, or a person holding a power over an estate or trust
      administered by a fiduciary holder.

      
        
          
          

        

        
          -7-

          
            

          

        

        
          
          

        

      

    

     

    
      	 	
              (5)

            	
              Additional
                Amounts will not be payable to any beneficial owner of a Note that
                is
                a:

            

    

    

    
      	 	
               

            	
              (a)

            	
              fiduciary;

            

    

    
      	 	
               

            	
              (b)

            	
              partnership;

            

    

    
      	 	
               

            	
              (c)

            	
              limited
                liability company or

            

    

    
      	 	
               

            	
              (d)

            	
              other
                fiscally transparent entity

            

    

    

    
      	 	 	
              or
                that is not the sole beneficial owner of the Note, or any portion
                of the
                Note. However, this exception to the obligation to pay Additional
                Amounts
                will only apply to the extent that a beneficiary or settlor in relation
                to
                the fiduciary, or a beneficial owner or member of the partnership,
                limited
                liability company or other fiscally transparent entity, would not
                have
                been entitled to the payment of an Additional Amount had the beneficiary,
                settlor, beneficial owner or member received directly its beneficial
                or
                distributive share of the payment.

            

    

    

    
      	 	
              (6)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is imposed
                or
                withheld solely by reason of the failure of the beneficial owner
                or any
                other person to comply with applicable certification, identification,
                documentation or other information reporting requirements. This exception
                to the obligation to pay Additional Amounts will only apply if compliance
                with such reporting requirements is required by statute or regulation
                of
                the United States or by an applicable income tax treaty to which
                the
                United States is a party as a precondition to exemption from such
                tax,
                assessment or other governmental
                charge.

            

    

    

    
      	 	
              (7)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is collected
                or
                imposed by any method other than by withholding from a payment on
                a Note
                by the Company or a paying agent.

            

    

    

    
      	 	
              (8)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is imposed
                or
                withheld by reason of a change in law, regulation, or administrative
                or
                judicial interpretation that becomes effective more than 15 days
                after the
                payment becomes due or is duly provided for, whichever occurs
                later.

            

    

    

    
      	 	
              (9)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is imposed
                or
                withheld by reason of the presentation by the beneficial owner of
                a Note
                for payment more than 30 days after the date on which such payment
                becomes due or is duly provided for, whichever occurs
                later.

            

    

    

    
      	 	
              (10)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any:

            

    

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

    

    
      	 	
               

            	
              (a)

            	
              estate
                tax;

            

    

    
      	 	
               

            	
              (b)

            	
              inheritance
                tax;

            

    

    
      	 	
               

            	
              (c)

            	
              gift
                tax;

            

    

    
      	 	
               

            	
              (d)

            	
              sales
                tax;

            

    

    
      	 	
               

            	
              (e)

            	
              excise
                tax;

            

    

    
      	 	
               

            	
              (f)

            	
              transfer
                tax;

            

    

    
      	 	
               

            	
              (g)

            	
              wealth
                tax;

            

    

    
      	 	
               

            	
              (h)

            	
              personal
                property tax or

            

    

    
      	 	
               

            	
              (i)

            	
              any
                similar tax, assessment, withholding, deduction or other governmental
                charge.

            

    

    

    
      	 	
              (11)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment, or other governmental charge required to
                be
                withheld by any paying agent from a payment of principal or interest
                on a
                Note if such payment can be made without such withholding by any
                other
                paying agent.

            

    

    

    
      	 	
              (12)

            	
              Additional
                amounts will not be payable if a payment on a Note is reduced as
                a result
                of any tax, assessment or other governmental charge that is required
                to be
                made pursuant to any European Union directive on the taxation of
                savings
                income or any law implementing or complying with, or introduced to
                conform
                to, any such directive.

            

    

    

    
      	 	
              (13)

            	
              Additional
                Amounts will not be payable if a payment on a Note is reduced as
                a result
                of any combination of items (1) through (12)
                above.

            

    

    

    Except
      as
      specifically provided herein, the Company will not be required to make any
      payment of any tax, assessment or other governmental charge imposed by any
      government or a political subdivision or taxing authority of such
      government.

    

    As
      used
      in this Note, "United States person" means:

    

    
      	 	
              (a)

            	
              any
                individual who is a citizen or resident of the United
                States;

            

    

    
      	 	
              (b)

            	
              any
                corporation, partnership or other entity created or organized in
                or under
                the laws of the United States;

            

    

    
      	 	
              (c)

            	
              any
                estate if the income of such estate falls within the federal income
                tax
                jurisdiction of the United States regardless of the source of such
                income
                and

            

    

    
      	 	
              (d)

            	
              any
                trust if a United States court is able to exercise primary supervision
                over its administration and one or more United States persons have
                the
                authority to control all of the substantial decisions of the
                trust.

            

    

    

    Additionally,
      "non-United States person" means a person who is not a United States person,
      and
      "United States" means the states of the United States of America and the
      District of Columbia, but excluding its territories and its
      possessions.

      
        
          
          

        

        
          -9-

          
            

          

        

        
          
          

        

      

    Except
      as
      provided below, the Notes may not be redeemed prior to maturity.

     

    
      	
            	(1)	
              The
                Company may, at its option, redeem the Notes
                if:

            

    

    

    
      	 	 	
              (a)

            	
              the
                Company becomes or will become obligated to pay Additional Amounts
                as
                described above;

            

    

    
      	 	 	
              (b)

            	
              the
                obligation to pay Additional Amounts arises as a result of any change
                in
                the laws, regulations or rulings of the United States, or an official
                position regarding the application or interpretation of such laws,
                regulations or rulings, which change is announced or becomes effective
                on
                or after February 12, 2007 and

            

    

    
      	 	 	
              (c)

            	
              the
                Company determines, in its business judgment, that the obligation
                to pay
                such Additional Amounts cannot be avoided by the use of reasonable
                measures available to it, other than substituting the obligor under
                the
                Notes or taking any action that would entail a material cost to the
                Company.

            

    

    

    
      	 	
              (2)

            	
              The
                Company may also redeem the Notes, at its option,
                if:

            

    

    

    
      	 	 	
              (a)

            	
              any
                act is taken by a taxing authority of the United States on or after
                February 12, 2007, whether or not such act is taken in relation to
                the
                Company or any affiliate, that results in a substantial probability
                that
                the Company will or may be required to pay Additional Amounts as
                described
                above;

            

    

    
      	 	 	
              (b)

            	
              the
                Company determines, in its business judgment, that the obligation
                to pay
                such Additional Amounts cannot be avoided by the use of reasonable
                measures available to it, other than substituting the obligor under
                the
                Notes or taking any action that would entail a material cost to the
                Company and

            

    

    
      	 	 	
              (c)

            	
              the
                Company receives an opinion of independent counsel to the effect
                that an
                act taken by a taxing authority of the United States results in a
                substantial probability that the Company will or may be required
                to pay
                the Additional Amounts described under above, and delivers to the
                Trustee
                a certificate, signed by a duly authorized officer, stating that
                based on
                such opinion the Company is entitled to redeem the Notes pursuant
                to their
                terms.

            

    

    

    Any
      redemption of the Notes as set forth in clauses (1) or (2) above shall be in
      whole, and not in part, and will be made at a redemption price equal to 100%
      of
      the principal amount of the Notes Outstanding plus accrued interest thereon
      to
      the date of redemption. Holders shall be given not less than 30 days nor more
      than 60 days prior notice by the Trustee of the date fixed for such
      redemption.

    

    All
      terms
      used in this Note which are defined in the Indenture shall have the meanings
      assigned to them in the Indenture. The Notes are governed by the laws of the
      State of New York.

    
      
        
        

      

      -10-

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