Document:

Filed by sedaredgar.com - Cheetah Oil & Gas Ltd. - Exhibit 10.1

ASSET PURCHASE AGREEMENT 

THIS AGREEMENT dated for reference the __3_ day of April, 2009.

AMONG: 

  
    
      
        CHEETAH OIL & GAS LTD., a corporation existing
          under the laws of the State of Nevada with its executive office at Box
          172 Station A, Nanaimo, British Columbia, Canada 

        (herein called “Cheetah”) 

      

    

  

AND: 

  
    
      
        LEXARIA CORP., a corporation existing under
          the laws of the State of Nevada with its executive office at 604-700
          West Pender Street, Vancouver, , British Columbia, Canada 

        (herein called “Lexaria”) 

        (Cheetah and Lexaria collectively the “Purchasers”)
        

      

    

  

AND: 

  
    
      
        DELTA OIL & GAS, INC., a corporation existing
          under the laws of the State of Colorado with its executive office at
          2600 144 4th Ave S.W., Alberta, Canada 

        (herein called “Delta”) 

      

    

  

AND: 

  
    
      
        THE STALLION GROUP, a corporation existing under
          the laws of the State of Nevada with its executive office at 604-700
          West Pender Street, Vancouver, British Columbia, Canada 

        (herein called “Stallion”) 

        (Delta and Stallion collectively the “Vendors”)
        

      

    

  

WHEREAS: 

A.          
Delta owns certain oil and gas interests located in Missippi, USA as set out in
Schedule 1A which it proposes to sell (the “Delta Assets”);

B.          
Stallion owns certain oil and gas interests located in Missippi, USA as set out
in Schedule 1B which it proposes to sell (the “Stallion Assets”, collectively
with the Delta Assets, the “Purchased Assets”) ; 

C.          
Cheetah wishes to acquire an 80% interest in the Purchased Assets and Lexaria
wishes to acquire a 20% interest in the Purchased Assets; 

D.          
The Vendors have agreed to sell and the Purchasers have agreed to purchase their
respective interests in the Purchased Assets. 

- 2 - 

NOW THEREFORE in consideration of the premises and the
respective covenants, agreements representations, warranties and indemnities of
the parties herein contained and for other good and valuable consideration (the
receipt and sufficiency of which is hereby acknowledged) the parties hereto
covenant and agree as follows: 

	1. 	
      DEFINED TERMS

	 	 	 
	1.1 	
      For the purposes of this Agreement, unless the context
      otherwise requires, the following terms will have the respective meanings
      set out below and grammatical variations of such terms will have
      corresponding meanings:

	 	 	 
		
      “Affiliate” has the meaning given to that term in the
      Securities Act of 1933, as amended, and the Rules and Regulations of the
      Securities and Exchange Commission promulgated thereunder;

	 	 	 
		(a) 	
      “Associate” has the meaning given to that term in the
      Securities Act of 1933, as amended, and the Rules and Regulations of the
      Securities and Exchange Commission promulgated thereunder;

	 	 	 
		(b) 	
      “Purchased Assets” means the business assets as described
      in Schedule 1A and Schedule 1B of this Agreement;

	 	 	 
		(c) 	
      “Business Day” means any day which is not a Saturday,
      Sunday or statutory holiday in the United States and Canada;

	 	 	 
		(d) 	
      “Closing” means the completion of the transactions
      contemplated in this Asset Purchase Agreement;

	 	 	 
		(e) 	
      “Closing Date” means April 3, 2009, or such other date as
      the Vendors and the Purchasers may mutually determine;

	 	 	 
		(f) 	
      “Effective Closing Date” means January 31, 2009 at 11:59
      P.M. PDT, at which time the commercial terms contemplated in this Asset
      and Purchase Agreement shall take full force and effect:

	 	 	 
		(g) 	
      “Contract” means any agreement, indenture, contract,
      lease, deed of trust, license, option, instrument or other commitment,
      whether written or oral;

	 	 	 
		(h) 	
      “Encumbrance” means any encumbrance, lien, charge,
      hypothec, pledge, mortgage, title retention agreement, security interest
      of any nature, adverse claim, exception, reservation, easement, right of
      occupation, any matter capable of registration against title, option,
      right of pre-emption, privilege or any Contract to create any of the
      foregoing;

	 	 	 
		(i) 	
      “Licenses” means all licenses, permits, approvals,
      consents, certificates, registrations and authorizations (whether
      governmental, regulatory, or otherwise) required for the conduct in the
      ordinary course of the uses to which the Purchased Assets have been
      put;

	 	 	 
		(j) 	
      “Losses” means, in respect of any matter, all claims,
      demands, proceedings, losses, damages, liabilities, deficiencies, costs
      and expenses (including, without limitation, all legal and other
      professional fees and disbursements, interest, penalties and amounts paid
      in settlement) arising directly or indirectly as a consequence of such
      matter and actually incurred by a party entitled to be indemnified
      hereunder, net of (i) any tax adjustments, benefits, savings or reductions
      to which such indemnified party is entitled resulting from such matter,
      and (ii) any insurance proceeds, in either case to which such indemnified
      party is entitled by virtue of such claims, demands, proceedings, losses,
      damages, liabilities, deficiencies, costs and expenses;

	 	 	 
		(k) 	
      “Purchase Price” means the aggregate sum payable by the
      Purchasers to the Vendors for the Purchased
Assets.

- 3 - 

	1.2 	
      Currency. Unless otherwise indicated, all dollar
      amounts in this Agreement are expressed in United States funds.

	 	 
	1.3 	
      Sections and Headings. The division of this
      Agreement into Articles, sections and subsections and the insertion of
      headings are for convenience of reference only and will not affect the
      interpretation of this Agreement. Unless otherwise indicated, any
      reference in this Agreement to an Article, section, subsection or Schedule
      refers to the specified Article, section or subsection of or Schedule to
      this Agreement.

	 	 
	1.4 	
      Number, Gender and Persons. In this Agreement,
      words importing the singular number only will include the plural and vice
      versa, words importing gender will include all genders and words importing
      persons will include individuals, corporations, partnerships,
      associations, trusts, unincorporated organizations, governmental bodies
      and other legal or business entities of any kind whatsoever.

	 	 
	1.5 	
      Accounting Principles. Except as otherwise stated,
      any reference in this Agreement to generally accepted accounting
      principles refers to generally accepted accounting principles that have
      been established in the United States of America, including those approved
      from time to time by the American Institute of Certified Public
      Accountants or any successor body thereto.

	 	 
	1.6 	
      Entire Agreement. This Agreement constitutes the
      entire agreement between the parties with respect to the subject matter
      hereof and supersedes all prior agreements, understandings, negotiations
      and discussions, whether written or oral. There are no conditions,
      covenants, agreements, representations, warranties or other provisions,
      express or implied, collateral, statutory or otherwise, relating to the
      subject matter hereof except as herein provided.

	 	 
	1.7 	
      Time of Essence. Time will be of the essence of
      this Agreement.

	 	 
	1.8 	
      Applicable Law. This Agreement will be construed,
      interpreted and enforced in accordance with, and the respective rights and
      obligations of the parties will be governed by, the laws of the Province
      of British Columbia and the federal laws of Canada applicable therein, and
      each party irrevocably and unconditionally submits to the non-exclusive
      jurisdiction of the courts of such state and all courts competent to hear
      appeals there from and waives, so far as is legally possible, its right to
      have any legal action relating to this Agreement tried by a
jury.

	 	 
	1.9 	
      Amendments and Waivers. No amendment or waiver of
      any provision of this Agreement will be binding on either party unless
      consented to in writing by such party. No waiver of any provision of this
      Agreement will constitute a waiver of any other provision, nor will any
      waiver constitute a continuing waiver unless otherwise provided.

	 	 
	1.10 	
      Adjustments for Stock Splits, Etc.. Wherever in
      this Agreement there is a reference to a specific number of shares of
      stock of the Company, then, upon the occurrence of any subdivision,
      combination or stock dividend of such stock, the specific number of shares
      so referenced in this Agreement shall automatically be proportionally
      adjusted to reflect the effect on the outstanding shares of such class or
      series of stock by such subdivision, combination or stock
  dividend.

	 	 
	1.11 	
      Schedules. The following Schedules are attached to
      and form part of this Agreement: All terms defined in the body of this
      Agreement will have the same meaning in the Schedule attached
  hereto

	 	Schedule 1A 	Description of Delta Assets

	 	Schedule 1B 	Description of Stallion Assets
  
	 	Schedule 2 	Legal and Regulatory Proceedings
    
	 	Schedule 3 	Consents 

- 4 - 

	2. 	
      PURCHASE AND SALE

	 	 	 
	2.1 	
      Subject to the terms and conditions of this Agreement,
      effective as at the Closing Date the Vendors will sell, transfer, and
      assign to the Purchasers and the Purchasers agrees to purchase from the
      Vendors, free and clear of all Encumbrances the Purchased
Assets.

	 	 	 
	3. 	
      PURCHASE PRICE AND ALLOCATION

	 	 	 
	3.1 	
      The Purchase Price payable by the Purchasers to the
      Vendors for the Purchased Assets are as follows:

	 	 	 
		(a) 	
      The Purchasers shall pay a total of US $170,000, as to
      80% Cheetah and 20% Lexaria, comprised of, $100,333.98 to Delta and
      $56,299.04 to Stallion, on the Closing Date; and $13,366.97 to be held in
      trust with MacDonald Tuskey to be released in full within 5 days of
      closing to Griffin & Griffin Exploration, L.L.C to settle the
      outstanding liabilities shown below in section 3.1(c);

	 	 	 
		(b) 	
      The Purchasers shall pay, as to 80% Cheetah and 20%
      Lexaria, to the Vendors, as to 100 % Stallion, US $500.00 US per month for
      a period of four (4) years from the Closing Date unless production at the
      Belmont Lake project declines to less than 65 Barrels of Oil per Day for a
      period of thirty (30) days or longer in which case these monthly payments
      are suspended until such time as production once again produces at an
      average of greater than 65 BOPD over a 1 month period. Then the payment
      ahall resume retroactively to the beginning of said month. All months that
      do not produce at this level shall be added to the time period of 4 years
      and shall continue until 48 months of production payments have been
      made;

	 	 	 
		(c) 	
      The Purchasers will assume and pay within 5 days of the
      Closing Date, as to 80% Cheetah and 20% Lexaria, specified existing
      liabilities only of $30,366.97 ((($43,733.94 - $17,000)/2) +17,000) owing
      by the Vendors to Griffin & Griffin Exploration, L.L.C.;

	 	 	 
	3.2 	
      The Purchasers shall be entitled to receive any and all
      oil and gas revenue due to the Vendors from the Purchased Assets but not
      yet remitted from Griffin & Griffin Exploration, L.L.C. as of the
      Closing Date.

	 	 	 
	4. 	
      CLOSING, POSSESSION, AND NO
    ADJUSTMENTS

EFFECTIVE CLOSE DATE OF THIS AGREEMENT SHALL BE 11:59 P.M. PDT,
JANUARY 31, 2009 WITHOUT FURTHER ADJUSTMENTS. 

	4.1 	
      The physical Closing will take place on or before April
      3, 2009 at 11:00AM (PST), on the Closing Date at the offices of Macdonald
      Tuskey, or at such other place, date, and time as may be mutually agreed
      upon by the parties hereto.

	 	 
	4.2 	
      The Vendors will deliver possession of the Purchased
      Assets, free of any other claim to possession and any tenancies, to the
      Purchasers on the Closing Date.

	 	 
	4.3 	
      Provided that there has been no material
      misrepresentation on the part of the parties to this agreement and all of
      their respective obligations under this Agreement have been fulfilled,
      there will be no adjustment of the Purchase Price for any reason
      whatsoever.

	 	 
	5. 	
      REPRESENTATIONS AND WARRANTIES OF
    DELTA

	 	 
	5.1 	
      Delta represents and warrants to each of the Purchasers,
      with the intent that each of the Purchasers will rely thereon in entering
      into this Agreement and in concluding the transactions contemplated
      hereby, as follows:

- 5 - 

	 	(a) 	
      the execution and delivery of this Agreement and the
      completion of the transaction contemplated hereby have been duly and
      validly authorized by all necessary limited liability company action on
      the part of Delta, and this Agreement constitutes a valid and binding
      obligation of Delta enforceable against Delta in accordance with its
      terms; except as enforcement may be limited by bankruptcy, insolvency and
      other laws affecting the rights of creditors generally and except that
      equitable remedies may be granted only in the discretion of a court of
      competent jurisdiction;

	 	 	 	 
	 	(b) 	
      except as will be remedied by the consents, approvals,
      releases, and discharges described in Schedule 3 - Consents attached
      hereto, neither the execution and delivery of this Agreement nor the
      performance of Delta’s obligations hereunder will:

	 	 	 	 
	 		(i) 	
      violate or constitute default under any order, decree,
      judgment, statute, by-law, rule, regulation, or restriction applicable to
      Delta, the Delta Assets, or any contract, agreement, instrument, covenant,
      mortgage, or security, to which Delta is a party or which is binding upon
      Delta,

	 	 	 	 
	 		(ii) 	
      to the knowledge of Delta, result in any fees, duties,
      taxes, assessments, penalties or other amounts becoming due or payable by
      the Purchasers under any sales tax legislation. .

	 	 	 	 
	 		(iii) 	
      give rise to the creation or imposition of any
      Encumbrance on the Delta Assets,

	 	 	 	 
	 		(iv) 	
      violate or constitute default under any license, permit,
      approval, consent or authorization held by Delta, or

	 	 	 	 
	 		(v) 	
      violate or trigger any liability on behalf of the
      Purchasers pursuant to any legislation governing the sale of the Delta
      Assets by Delta.

	 	 	 	 
	 	(c) 	
      Delta owns and possesses and has good and marketable
      title to the Delta Assets free and clear of all Encumbrances of every kind
      and nature whatsoever;

	 	 	 	 
	 	(d) 	
      Delta does not have any indebtedness in excess of
      $10,000.00 which might by operation of law or otherwise now or hereafter
      constitute an Encumbrance upon the Delta Assets;

	 	 	 	 
	 	(e) 	
      no person other than the Purchasers have any written or
      oral agreement or option or any right or privilege (whether by law,
      pre-emptive or contractual) capable of becoming an agreement or option for
      the purchase or acquisition from Delta of the Delta Assets;

	 	 	 	 
	 	(f) 	
      except as otherwise provided herein, this Agreement
      discloses all contracts, engagements, and commitments, whether oral or
      written, relating to the Delta Assets including in particular contracts,
      engagements, and commitments:

	 	 	 	 
	 		(i) 	
      out of the ordinary course of business,

	 	 	 	 
	 		(ii) 	
      which entail the payment of in excess of $10,000.00
      during any one year period

	 	 	 	 
	 		(iii) 	
      respecting ownership of or title to any interest or claim
      in or to any real or personal property making up the Delta
  Assets,

	 	 	 	 
	 		(iv) 	
      respecting any agreement of guarantee, support,
      indemnification, assumption or endorsement of, or any similar commitment
      with respect to, the obligations, liabilities (whether accrued, absolute,
      contingent or otherwise) or indebtedness of any other person except for
      cheques endorsed for collection in the ordinary course of the
    business;

- 6 - 

	 	(v) 	
      any confidentiality, secrecy or non-disclosure contract,
      (whether Delta is a beneficiary or obligant thereunder) relating to any
      proprietary or confidential information or any non- competition or similar
      contract;

	 	 	 
	 	(vi) 	
      there has not been any default in any obligation or
      liability in respect of said contracts, engagements, or commitments by
      Delta and Delta has performed all of the material obligations required to
      be performed by it and is entitled to all benefits under any
    contracts;

	 	 	 
	 	(vii) 	
      there has not been any amendment, modification,
      variation, surrender, or release of said contracts, engagements, and
      commitments; and

	 	 	 
	 	(viii) 	
      each of said contracts, engagements, and commitments is
      in good standing and in full force and effect and Delta has performed all
      of the material obligations required to be performed by it and is entitled
      to all benefits thereunder, and is not in default or alleged to be in
      default in respect of any material contract or any other contracts,
      engagements or commitments provided for in this Agreement, to which Delta
      is a party or by which it is bound;

	 	(g) 	
      neither the execution and delivery of this Agreement nor
      the completion of the purchase and sale hereby contemplated will give any
      party to this Agreement the right to terminate, dispute or cancel any
      licenses or permits, rules, regulations, and ordinances applicable to the
      Delta Assets or affect such compliance;

	 	 	 
	 	(h) 	
      except as disclosed in Schedule 2 - Legal and Regulatory
      Proceedings, there are no actions, suits, proceedings, investigations,
      complaints, orders, directives, or notices of defect or noncompliance by
      or before any court, governmental or domestic commission, department,
      board, tribunal, or authority, or administrative, licensing, or regulatory
      agency, body, or officer issued, pending, or to the best of Delta’s
      knowledge threatened against or affecting Delta or in respect of the Delta
      Assets;

	 	 	 
	 	(i) 	
      there is no requirement applicable to Delta to make any
      filing with, give any notice to or to obtain any license, permit,
      certificate, registration, authorization, consent or approval of, any
      governmental or regulatory authority as a condition to the lawful
      consummation of the transactions contemplated by this Agreement, except
      for the filings, notifications, licenses, permits, certificates,
      registrations, consents and approvals described in Schedule 3 - Consents,
      or that relate solely to the identity of the Purchasers or the nature of
      any business carried on by the Purchasers except for the notifications,
      consents and approvals described in Schedule 3 - Consents;

	 	 	 
	 	(j) 	
      Delta has filed or caused to be filed all material tax
      returns of Delta which have become due (taking into account valid
      extensions of time to file) prior to the date hereof, such returns are
      accurate and complete in all material respects and Delta has paid or
      caused to be paid all taxes due, in each case to the extent Purchasers
      would incur liability for Delta’s failure to file such returns or pay such
      taxes. There are no outstanding tax liens that have been filed by any tax
      authority against the Delta Assets. No claims are being asserted in
      writing with respect to any taxes relating to Delta’s business for which
      the Purchasers reasonably could be held liable and Delta knows of no basis
      for the assertion of any such claim;

	 	 	 
	 	(k) 	
      Delta has never received any notice of or been prosecuted
      for non-compliance with any environmental laws, nor has Delta settled any
      allegation of non-compliance short of prosecution. There are no orders or
      directions relating to environmental matters requiring any work, repairs
      or construction or capital expenditures to be made with respect to the
      Delta Assets, nor has Delta received notice of any of the same;
  and

	 	 	 
	 	(l) 	
      there are no known liabilities of Delta or its associates
      or Affiliates, whether or not accrued and whether or not determined or
      determinable, in respect of which the Purchasers may become
  liable

- 7 - 

	 		
      on or after the Closing Date, and Delta is specifically
      excluded from any responsibility of future potential environmental
      liabilities; and

	 	 	 
	 	(m) 	
      Delta agrees that upon the closing of this agreement, any
      previous agreements with Stallion dated May 20, 2008, with respect to an
      option to purchase any portion of Delta’s Mississippi Assets as stated in
      Schedule 1A, is hereby null and void and specifically does not grant Delta
      any right to sell any portion of the Mississippi assets in the
    future.

	6. 	
      REPRESENTATIONS AND WARRANTIES OF
      STALLION

	 	 	 	 
	6.1 	
      Stallion represents and warrants to each of the
      Purchasers, with the intent that each of the Purchasers will rely thereon
      in entering into this Agreement and in concluding the transactions
      contemplated hereby, as follows:

	 	 	 	 
		(a) 	
      the execution and delivery of this Agreement and the
      completion of the transaction contemplated hereby have been duly and
      validly authorized by all necessary limited liability company action on
      the part of Stallion, and this Agreement constitutes a valid and binding
      obligation of Stallion enforceable against Stallion in accordance with its
      terms; except as enforcement may be limited by bankruptcy, insolvency and
      other laws affecting the rights of creditors generally and except that
      equitable remedies may be granted only in the discretion of a court of
      competent jurisdiction;

	 	 	 	 
		(b) 	
      except as will be remedied by the consents, approvals,
      releases, and discharges described in Schedule 3 - Consents attached
      hereto, neither the execution and delivery of this Agreement nor the
      performance of Stallion’s obligations hereunder will:

	 	 	 	 
			(i) 	
      violate or constitute default under any order, decree,
      judgment, statute, by-law, rule, regulation, or restriction applicable to
      Stallion, the Stallion Assets, or any contract, agreement, instrument,
      covenant, mortgage, or security, to which Stallion is a party or which is
      binding upon Stallion,

	 	 	 	 
			(ii) 	
      to the knowledge of Stallion, result in any fees, duties,
      taxes, assessments, penalties or other amounts becoming due or payable by
      the Purchasers under any sales tax legislation.

	 	 	 	 
			(iii) 	
      give rise to the creation or imposition of any
      Encumbrance on the Stallion Assets,

	 	 	 	 
			(iv) 	
      violate or constitute default under any license, permit,
      approval, consent or authorization held by Stallion, or

	 	 	 	 
			(v) 	
      violate or trigger any liability on behalf of the
      Purchasers pursuant to any legislation governing the sale of the Stallion
      Assets by Stallion.

	 	 	 	 
		(c) 	
      Stallion owns and possesses and has good and marketable
      title to the Stallion Assets free and clear of all Encumbrances of every
      kind and nature whatsoever;

	 	 	 	 
		(d) 	
      Stallion does not have any indebtedness in excess of
      $10,000.00 which might by operation of law or otherwise now or hereafter
      constitute an Encumbrance upon the Stallion Assets; no person other than
      the Purchasers have any written or oral agreement or option or any right
      or privilege (whether by law, pre-emptive or contractual) capable of
      becoming an agreement or option for the purchase or acquisition from
      Stallion of the Stallion Assets;

	 	 	 	 
		(e) 	
      except as otherwise provided herein, this Agreement
      discloses all contracts, engagements, and commitments, whether oral or
      written, relating to the Stallion Assets including in particular
      contracts, engagements, and commitments:

	 	 	 	 
			(i) 	
      out of the ordinary course of
business,

- 8 - 

	 	(ii) 	
      which entail the payment of in excess of $10,000.00
      during any one year period,

	 	 	 
	 	(iii) 	
      respecting ownership of or title to any interest or claim
      in or to any real or personal property making up the Stallion
    Assets,

	 	 	 
	 	(iv) 	
      respecting any agreement of guarantee, support,
      indemnification, assumption or endorsement of, or any similar commitment
      with respect to, the obligations, liabilities (whether accrued, absolute,
      contingent or otherwise) or indebtedness of any other person except for
      cheques endorsed for collection in the ordinary course of the
    business;

	 	 	 
	 	(v) 	
      any confidentiality, secrecy or non-disclosure contract,
      (whether Stallion is a beneficiary or obligant thereunder) relating to any
      proprietary or confidential information or any non- competition or similar
      contract;

	 	 	 
	 	(vi) 	
      there has not been any default in any obligation or
      liability in respect of said contracts, engagements, or commitments by
      Stallion and Stallion has performed all of the material obligations
      required to be performed by it and is entitled to all benefits under any
      contracts;

	 	 	 
	 	(vii) 	
      there has not been any amendment, modification,
      variation, surrender, or release of said contracts, engagements, and
      commitments; and

	 	 	 
	 	(viii) 	
      each of said contracts, engagements, and commitments is
      in good standing and in full force and effect and Stallion has performed
      all of the material obligations required to be performed by it and is
      entitled to all benefits thereunder, and is not in default or alleged to
      be in default in respect of any material contract or any other contracts,
      engagements or commitments provided for in this Agreement, to which
      Stallion is a party or by which it is bound;

	 	(f) 	
      neither the execution and delivery of this Agreement nor
      the completion of the purchase and sale hereby contemplated will give any
      party to this Agreement the right to terminate, dispute or cancel any
      licenses or permits, rules, regulations, and ordinances applicable to the
      Delta Assets or affect such compliance;

	 	 	 
	 	(g) 	
      except as disclosed in Schedule 2 - Legal and Regulatory
      Proceedings, there are no actions, suits, proceedings, investigations,
      complaints, orders, directives, or notices of defect or noncompliance by
      or before any court, governmental or domestic commission, department,
      board, tribunal, or authority, or administrative, licensing, or regulatory
      agency, body, or officer issued, pending, or to the best of Stallion’s
      knowledge threatened against or affecting Stallion or in respect of the
      Stallion Assets;

	 	 	 
	 	(h) 	
      there is no requirement applicable to Stallion to make
      any filing with, give any notice to or to obtain any license, permit,
      certificate, registration, authorization, consent or approval of, any
      governmental or regulatory authority as a condition to the lawful
      consummation of the transactions contemplated by this Agreement, except
      for the filings, notifications, licenses, permits, certificates,
      registrations, consents and approvals described in Schedule 3 - Consents,
      or that relate solely to the identity of the Purchasers or the nature of
      any business carried on by the Purchasers except for the notifications,
      consents and approvals described in Schedule 3 - Consents;

	 	 	 
	 	(i) 	
      Stallion has filed or caused to be filed all material tax
      returns of Stallion which have become due (taking into account valid
      extensions of time to file) prior to the date hereof, such returns are
      accurate and complete in all material respects and Stallion has paid or
      caused to be paid all taxes due, in each case to the extent Purchasers
      would incur liability for Stallion’s failure to file such returns or pay
      such taxes. There are no outstanding tax liens that have been filed by any
      tax authority against the Stallion Assets. No claims are being asserted in
      writing with respect to any

- 9 - 

	 		
      taxes relating to Stallion’s business for which the
      Purchasers reasonably could be held liable and Stallion knows of no basis
      for the assertion of any such claim;

	 	 	 
	 	(j) 	
      Stallion has never received any notice of or been
      prosecuted for non-compliance with any Environmental Laws, nor has
      Stallion settled any allegation of non-compliance short of prosecution.
      There are no orders or directions relating to environmental matters
      requiring any work, repairs or construction or capital expenditures to be
      made with respect to the Stallion Assets, nor has Stallion received notice
      of any of the same; and

	 	 	 
	 	(k) 	
      there are no known liabilities of Delta or its associates
      or Affiliates, whether or not accrued and whether or not determined or
      determinable, in respect of which the Purchasers may become liable on or
      after the Closing Date, and Delta is specifically excluded from any
      responsibility of future potential environmental liabilities;
and

	 	 	 
	 	(l) 	
      Stallion agrees that upon the closing of this agreement,
      any of previous agreements with Delta dated May 20, 2008, with respect to
      an option to purchase any portion of Delta’s Mississippi Assets as stated
      in Schedule 1is hereby null and void and specifically does not grant
      Stallion any optioned right to purchase any portion of the Mississippi
      assets in the future.

	7. 	
      REPRESENTATIONS OF CHEETAH

	 	 	 
	7.1 	
      Cheetah represents and warrants to each of the Vendors as
      follows, with the intent that each of the Vendors will rely thereon in
      entering into this Agreement and in concluding the purchase and sale
      contemplated hereby, that:

	 	 	 
		(a) 	
      Cheetah is a corporation duly incorporated, validly
      existing, and in good standing under the laws of the State of Nevada and
      has the power, authority, and capacity to enter into this Agreement and to
      carry out its terms;

	 	 	 
		(b) 	
      the execution and delivery of this Agreement and the
      completion of the transactions contemplated hereby has been duly and
      validly authorized by all necessary corporate action on the part of
      Cheetah, and this Agreement constitutes a valid and binding obligation of
      Cheetah enforceable against Cheetah in accordance with its terms; except
      as enforcement may be limited by bankruptcy, insolvency and other laws
      affecting the rights of creditors generally and except that equitable
      remedies may be granted only in the discretion of a court of competent
      jurisdiction;

	 	 	 
		(c) 	
      there is no requirement for Cheetah to make any filing
      with, give any notice to or obtain any license, permit, certificate,
      registration, authorization, consent or approval of, any government or
      regulatory authority as a condition to the lawful consummation of the
      transactions contemplated by this Agreement; and

	 	 	 
		(d) 	
      neither the execution and delivery of this Agreement nor
      the performance of Cheetah’s obligations hereunder will violate or
      constitute a default under the constating documents, by-laws, or articles
      of Cheetah, any order, decree, judgment, statute, by-law, rule,
      regulation, or restriction applicable to Cheetah, or any contract,
      agreement, instrument, covenant, mortgage or security to which Cheetah is
      a party or which are binding upon Cheetah.

	 	 	 
	8. 	
      REPRESENTATIONS OF LEXARIA

	 	 	 
	8.1 	
      Lexaria represents and warrants to each of the Vendors as
      follows, with the intent that each of the Vendors will rely thereon in
      entering into this Agreement and in concluding the purchase and sale
      contemplated hereby, that:

	 	 	 
		(a) 	
      Lexaria is a corporation duly incorporated, validly
      existing, and in good standing under the laws of the State of Nevada and
      has the power, authority, and capacity to enter into this Agreement and to
      carry out its terms;

- 10 - 

	 	(b) 	
      the execution and delivery of this Agreement and the
      completion of the transactions contemplated hereby has been duly and
      validly authorized by all necessary corporate action on the part of
      Lexaria, and this Agreement constitutes a valid and binding obligation of
      Lexaria enforceable against Lexaria in accordance with its terms; except
      as enforcement may be limited by bankruptcy, insolvency and other laws
      affecting the rights of creditors generally and except that equitable
      remedies may be granted only in the discretion of a court of competent
      jurisdiction;

	 	 	 
	 	(c) 	
      there is no requirement for Lexaria to make any filing
      with, give any notice to or obtain any license, permit, certificate,
      registration, authorization, consent or approval of, any government or
      regulatory authority as a condition to the lawful consummation of the
      transactions contemplated by this Agreement; and

	 	 	 
	 	(d) 	
      neither the execution and delivery of this Agreement nor
      the performance of Lexaria’s obligations hereunder will violate or
      constitute a default under the constating documents, by-laws, or articles
      of Lexaria, any order, decree, judgment, statute, by-law, rule,
      regulation, or restriction applicable to Lexaria, or any contract,
      agreement, instrument, covenant, mortgage or security to which Lexaria is
      a party or which are binding upon Lexaria.

- 11 - 

	9. 	
      COVENANTS OF DELTA

	 	 	 
	9.1 	
      Between the date of this Agreement and the Closing Date,
      Delta covenants and agrees that Delta:

	 	 	 
		(a) 	
      will not sell or dispose of any of the Delta Assets and
      will preserve the Delta Assets intact without any further
    Encumbrances;

	 	 	 
		(b) 	
      will afford the Purchasers and their authorized
      representatives full access during normal business hours to Delta Assets
      and without limitation all title documents, abstracts of title, deeds,
      leases, contracts, financial statements, policies, reports, licenses,
      books, records, and other such material relating to the Delta Assets, and
      furnish such copies thereof and other information, as the Purchasers may
      reasonably request;

	 	 	 
		(c) 	
      will use its best efforts to procure and obtain at or
      prior to the Closing Date all such consents, approvals, releases, and
      discharges as may be required to effect the transactions contemplated
      hereby from all federal, state, municipal or other governmental or
      regulatory bodies and from all other third parties as necessary;

	 	 	 
		(d) 	
      at the request of the Purchasers, Delta will execute such
      consents, authorizations and directions as may be necessary to permit any
      inspection of the Delta Assets or to enable the Purchasers or their
      authorized representatives to obtain full access to all files and records
      relating to the Delta Assets maintained by governmental or other public
      authorities;

	 	 	 
		(e) 	
      Delta will use its best efforts to take or cause to be
      taken all necessary corporate action, steps and proceedings to approve and
      authorize validly and effectively the transfer of the Delta Assets to the
      Purchasers and the execution and delivery of this Agreement and any other
      Agreements or documents contemplated hereby and to cause all necessary
      meetings of members or managers of Delta to be held for such purpose;
      and

	 	 	 
		(f) 	
      will not, without the prior written consent of the
      Purchasers, enter into any transaction or refrain from doing any action
      that, if effected before the date of this Agreement, would constitute a
      breach of any representation, warranty, covenant or other obligation of
      Delta contained herein.

	 	 	 
	10. 	
      COVENANTS OF STALLION

	 	 	 
	10.1 	
      Between the date of this Agreement and the Closing Date,
      Stallion covenants and agrees that Stallion:

	 	 	 
		(a) 	
      will not sell or dispose of any of the Stallion Assets
      and will preserve the Stallion Assets intact without any further
      Encumbrances;

	 	 	 
		(b) 	
      will afford the Purchasers and their authorized
      representatives full access during normal business hours to Stallion
      Assets and without limitation all title documents, abstracts of title,
      deeds, leases, contracts, financial statements, policies, reports,
      licenses, books, records, and other such material relating to the Stallion
      Assets, and furnish such copies thereof and other information, as the
      Purchasers may reasonably request;

	 	 	 
		(c) 	
      will use its best efforts to procure and obtain at or
      prior to the Closing Date all such consents, approvals, releases, and
      discharges as may be required to effect the transactions contemplated
      hereby from all federal, state, municipal or other governmental or
      regulatory bodies and from all other third parties as necessary;

	 	 	 
		(d) 	
      at the request of the Purchasers, Stallion will execute
      such consents, authorizations and directions as may be necessary to permit
      any inspection of the Stallion Assets or to enable the Purchasers or their
      authorized representatives to obtain full access to all files and records
      relating to the Stallion Assets maintained by governmental or other public
      authorities;

- 12 - 

	 	(e) 	
      Stallion will use its best efforts to take or cause to be
      taken all necessary corporate action, steps and proceedings to approve and
      authorize validly and effectively the transfer of the Stallion Assets to
      the Purchasers and the execution and delivery of this Agreement and any
      other Agreements or documents contemplated hereby and to cause all
      necessary meetings of members or managers of Stallion to be held for such
      purpose; and

	 	 	 
	 	(f) 	
      will not, without the prior written consent of the
      Purchasers, enter into any transaction or refrain from doing any action
      that, if effected before the date of this Agreement, would constitute a
      breach of any representation, warranty, covenant or other obligation of
      Stallion contained herein.

	11. 	
      COVENANTS OF THE PURCHASERS

	 	 	 
		
      Between the date of this Agreement and the Closing Date,
      each of the Purchasers will make all reasonable efforts to obtain and
      procure in co-operation with the Vendors all consents, approvals,
      releases, and discharges required to effect the transactions contemplated
      hereby.

	 	 	 
	12. 	
      INDEMNIFICATION, REMEDIES,
  SURVIVAL

	 	 	 
	12.1 	
      Certain Definitions

	 	 	 
		
      For the purposes of this Article 12 the terms
      “Loss” and “Losses” mean any and all demands, claims,
      actions or causes of action, assessments, losses, damages, Liabilities,
      costs, and expenses, including without limitation, interest, penalties,
      fines and reasonable attorneys, accountants and other professional fees
      and expenses, but excluding any indirect, consequential or punitive
      damages including damages for lost profits or lost business
      opportunities.

	 	 	 
	12.2 	
      Agreement of Delta to Indemnify

	 	 	 
		
      Delta will indemnify, defend, save and hold harmless, to
      the full extent of the law, for a period of three years from the Closing
      Date with the exception of subsection (c) hereof which shall survive the
      Closing Date indefinitely, the Purchasers and their Directors and
      shareholders from, against, and in respect of any and all Losses asserted
      against, relating to, imposed upon, or incurred by the Purchasers their
      Directors and their shareholders by reason of, resulting from, based upon
      or arising out of:

	 	 	 
		(a) 	
      the breach by Delta of any representation or warranty of
      Delta contained in or made pursuant to this Agreement, any Delta document
      or any certificate or other instrument delivered pursuant to this
      Agreement; or

	 	 	 
		(b) 	
      the breach or partial breach by Delta of any covenant or
      agreement of Delta made in or pursuant to this Agreement, any Delta
      document or any certificate or other instrument delivered pursuant to this
      Agreement.

	 	 	 
		(c) 	
      The breach or partial breach by Delta on any
      misrepresentations made to the operators of the properties set out in
      Schedule 1A or any other parties involved prior to March *, 2009 with
      respect to the properties as set out in Schedule 1A.

	 	 	 
	12.3 	
      Agreement of Stallion to Indemnify

	 	 	 
		
      Stallion will indemnify, defend, save and hold harmless,
      to the full extent of the law, for a period of three years from the
      Closing Date with the exception of subsection (c) hereof which shall
      survive the Closing Date indefinitely, the Purchasers and their Directors
      and shareholders from, against, and in respect of any and all Losses
      asserted against, relating to, imposed upon, or incurred by the Purchasers
      and their Directors and their shareholders by reason of, resulting from,
      based upon or arising out of:

- 13 - 

	 	(a) 	
      the breach by Stallion of any representation or warranty
      of Stallion contained in or made pursuant to this Agreement, any Stallion
      document or any certificate or other instrument delivered pursuant to this
      Agreement; or

	 	 	 
	 	(b) 	
      the breach or partial breach by Stallion of any covenant
      or agreement of Stallion made in or pursuant to this Agreement, any
      Stallion document or any certificate or other instrument delivered
      pursuant to this Agreement.

	 	 	 
	 	(c) 	
      The breach or partial breach by Stallion_ on any
      misrepresentations made to the operators of the properties set out in
      Schedule 1B or any other parties involved prior to March *, 2009 with
      respect to the properties as set out in Schedule
1B.

	12.4 	
      Agreement of Cheetah to Indemnify

	 	 	 
		
      Cheetah will indemnify, defend, and hold harmless, to the
      full extent of the law, for a period of three years from the Closing Date,
      the Vendors and their shareholders from, against, and in respect of any
      and all Losses asserted against, relating to, imposed upon, or incurred by
      the Vendors and their shareholders by reason of, resulting from, based
      upon or arising out of:

	 	 	 
		(a) 	
      the breach by Cheetah of any representation or warranty
      of Cheetah contained in or made pursuant to this Agreement, any Cheetah
      document or any certificate or other instrument delivered pursuant to this
      Agreement; or

	 	 	 
		(b) 	
      the breach or partial breach by Cheetah of any covenant
      or agreement of Cheetah made in or pursuant to this Agreement, any Cheetah
      document or any certificate or other instrument delivered pursuant to this
      Agreement.

	 	 	 
	12.5 	
      Agreement of Lexaria to Indemnify

	 	 	 
		
      Lexaria will indemnify, defend, and hold harmless, to the
      full extent of the law, for a period of three years from the Closing Date,
      the Vendors and their shareholders from, against, and in respect of any
      and all Losses asserted against, relating to, imposed upon, or incurred by
      the Vendors and their shareholders by reason of, resulting from, based
      upon or arising out of:

	 	 	 
		(a) 	
      the breach by Lexaria of any representation or warranty
      of Lexaria contained in or made pursuant to this Agreement, any Lexaria
      document or any certificate or other instrument delivered pursuant to this
      Agreement; or

	 	 	 
		(b) 	
      the breach or partial breach by Lexaria of any covenant
      or agreement of Lexaria made in or pursuant to this Agreement, any Lexaria
      document or any certificate or other instrument delivered pursuant to this
      Agreement.

	 	 	 
	13. 	
      NON MERGER

	 	 	 
	13.1 	
      The representations, warranties, covenants, and
      agreements of the Vendors contained herein and those contained in the
      documents and instruments delivered pursuant hereto or in connection
      herewith will survive the Closing Date for a period of eighteen months,
      and notwithstanding the completion of the transactions contemplated
      hereby, the waiver of any condition contained herein (unless such waiver
      expressly releases the Vendors of such representation, warranty, covenant,
      or agreement), or any investigation by the Purchasers, same will remain in
      full force and effect.

	 	 	 
	13.2 	
      The representations, warranties, covenants, and
      agreements of the Purchasers contained herein and those contained in the
      documents and instruments delivered pursuant hereto or in connection
      herewith will

- 14 - 

		
      survive the Closing Date for a period of eighteen months,
      and notwithstanding the completion of the transactions contemplated
      hereby, the waiver of any condition contained herein (unless such waiver
      expressly releases the Purchasers of such representation, warranty,
      covenant, or agreement), or any investigation by the Vendors, same will
      remain in full force and effect.

	 	 
	14. 	
      CONDITIONS PRECEDENT

	 	 
	14.1 	
      The obligation of the Purchasers to consummate the
      transactions herein contemplated is subject to the fulfillment of each of
      the following conditions precedent at the times
  stipulated:

	 	(a) 	
      that the representations and warranties of each of the
      Vendor contained herein are true and correct on and as at the Closing Date
      with the same force and effect as if such representations and warranties
      were made as at the Closing Date, except as may be in writing disclosed to
      and approved by the Purchasers;

	 	 	 
	 	(b) 	
      that all the terms, covenants, conditions, agreements,
      and obligations hereunder on the part of each of the Vendors to be
      performed or complied with at or prior to the Closing Date, including in
      particular each of the Vendors’ obligation to deliver the documents and
      instruments herein provided for in Clause 14, have been performed and
      complied with as at the Closing Date;

	 	 	 
	 	(c) 	
      that between the date hereof and the Closing Date no
      force majeure, change, event, or circumstance has occurred which
      materially adversely affects the Purchased Assets or which, significantly
      reduces the value of the Purchased Assets to the Purchasers;

	 	 	 
	 	(d) 	
      that between the date hereof and the Closing Date there
      has not been any substantial loss, damage, or destruction, whether or not
      covered by insurance, to the Purchased Assets;

	 	 	 
	 	(e) 	
      no legal or regulatory action or proceeding will be
      pending or threatened by any person to enjoin, restrict or prohibit the
      purchase and sale of the Purchased Assets contemplated hereby;

	 	 	 
	 	(f) 	
      that at the Closing Date, there will have been obtained
      from all appropriate federal, state, municipal or other governmental or
      administrative bodies such licenses, permits, consents, approvals,
      certificates, registrations and authorizations as are required to be
      obtained by each of the Vendors to permit the change of ownership of the
      Purchased Assets contemplated hereby, and all notices, consents and
      approvals with respect to the transfer or assignment of any
    contracts;

	 	 	 
	 	(g) 	
      that at the Closing Date, each of the Vendors will have
      given or obtained the notices, consents and approvals described in
      Schedule 3 - Consents, in each case in form and substance satisfactory to
      each of the Purchasers, acting reasonably;

	14.2 	
      The foregoing conditions of Clause 14.1 are for the
      exclusive benefit of the Purchasers and may be waived in whole or in part
      by each of the Purchasers at any time. If any of the conditions contained
      in Clause 14.1 will not be performed or fulfilled at or prior to the
      Closing Date to the satisfaction of each of the Purchasers, acting
      reasonably, the Purchasers, may, by notice to the Vendors, terminate this
      Agreement and the obligations of the Vendors and the Purchasers under this
      agreement, provided that the Purchasers may also bring an action pursuant
      to Article 12 against the Vendors for damages suffered by the Purchasers
      where the non-performance or non-fulfillment of the relevant condition is
      as a result of a breach of covenant, representation or warranty by the
      Vendors.

	 	 	 
	14.3 	
      The obligation of each of the Vendors to consummate the
      transactions herein contemplated is subject to the fulfillment of each of
      the following conditions precedent at the times stipulated:

	 	 	 
		(a) 	
      that the representations and warranties of each of the
      Purchasers contained herein are true and correct on and as of the Closing
      Date with the same force and effect as if such representations and
      warranties were made as at the Closing Date, except as may be in writing
      disclosed to and approved by each of the Vendors;
and

- 15 - 

	 	(b) 	
      that all terms, covenants, conditions, agreements, and
      obligations hereunder on the part of each of the Purchasers to be
      performed or complied with at or prior to the Closing, including in
      particular each of the Purchasers’ obligation to deliver the documents and
      instruments herein provided for in Clause 15, have been performed and
      complied with as at the Closing.

	14.4 	
      The foregoing conditions of Clause 14.3 are for the
      exclusive benefit of each of the Vendors and may be waived in whole or in
      part by each of the Vendors at any time. If any of the conditions
      contained in Clause 14.3 will not be performed or fulfilled at or prior to
      the Closing Date to the satisfaction of each of the Vendors acting
      reasonably, the Vendors may, by notice to the Purchasers, terminate this
      Agreement and the obligations of the Vendors and the Purchasers under this
      Agreement, provided that the Vendors may also bring an action pursuant to
      Article 12 against the Purchasers for damages suffered by it where the
      non- performance or non-fulfillment of the relevant condition is as a
      result of a breach of covenant, representation or a warranty by the
      Purchasers.

	 	 
	15. 	
      TRANSACTIONS OF THE VENDORS AT THE
      CLOSING

	 	 
	15.1 	
      At the Closing Date, each of the Vendors will execute and
      deliver or cause to be executed and delivered all deeds, conveyances,
      bills of sale, transfers, assignments, agreements, certificates,
      documents, and instruments as may be necessary to effectively vest good
      and marketable title to each of the Purchased Assets in the respective
      Purchaser free and clear of any Encumbrances and without limiting the
      foregoing, will execute and deliver or cause to be executed and
      delivered:

	 	(a) 	
      all consents, approvals, releases, and discharges as may
      be required to effect the transactions contemplated hereby, including in
      particular those described in Schedule 3 - Consents;

	 	 	 
	 	(b) 	
      a certificate of the Vendor dated the Closing, acceptable
      in form and content to the solicitors for the Purchaser, certifying that
      the conditions set out in Clause 14.1 have been satisfied;

	 	 	 
	 	(c) 	
      executed releases by any third parties which have any
      Encumbrances against the Purchased Assets;

	 	 	 
	 	(d) 	
      a certified copy of a resolution of the Directors of the
      respective Vendor duly passed authorizing the execution and delivery of
      this Agreement and the completion of the transactions contemplated hereby;
      and

	 	 	 
	 	(e) 	
      all such other documents and instruments as the
      Purchasers’ lawyers may reasonably require.

	16. 	
      TRANSACTIONS OF THE PURCHASER AT THE
      CLOSING

	 	 	 
	16.1 	
      At the Closing each of the Purchasers will deliver or
      cause to be delivered to the Vendors:

	 	 	 
		(a) 	
      a certified copy of a resolution of the Directors of the
      respective Purchaser duly passed authorizing the execution and delivery of
      this Agreement and the completion of the transactions contemplated
      hereby;

	 	 	 
		(b) 	
      a certificate of an officer of the Purchaser dated as of
      the Closing Date, acceptable in form and content to the solicitors for the
      Vendors, certifying that the conditions precedent set out in Clause 14.3
      have been satisfied; and

	 	 	 
		(c) 	
      all such other documents and instruments as the Vendors
      or its solicitors may reasonably require.

- 16 - 

	17. 	
      TAXES

	 	 
	17.1 	
      All sales, use and other transfer taxes payable in
      respect of the transactions arising out of the purchase of the Purchased
      Assets as contemplated hereby will be paid by the Purchasers.

	 	 
	18. 	
      PLUG AND ABANDONMENT AND
    ENVIRONMENTAL

	 	 
		
      All costs associated with plug and abandonment operations
      of all natural gas and oil wells contemplated under this Agreement will be
      paid by the Purchasers and these plug and abandonment liabilities are
      specifically excluded from any Vendor responsibility. Additionaly, all
      environmental costs and liabilities will be assumed by the
    Purchasers.

	 	 
	19. 	
      FURTHER ASSURANCES

	 	 
	19.1 	
      From time to time subsequent to the Closing Date, the
      parties covenant and agree, at the expense of the requesting party, to
      promptly execute and deliver all such further documents and instruments
      and do all such further acts and things as may be required to carry out
      the full intent and meaning of this Agreement and to effect the
      transactions contemplated hereby.

	 	 
	20. 	
      ASSIGNMENT

	 	 
	20.1 	
      This Agreement may not be assigned by any party hereto
      without the prior written consent of the other parties hereto.

	 	 
	21. 	
      SUCCESSORS AND ASSIGNS

	 	 
	21.1 	
      This Agreement will enure to the benefit of and be
      binding upon the parties hereto and their respective successors and
      permitted assigns.

	 	 
	22. 	
      COUNTERPARTS

	 	 
	22.1 	
      This Agreement may be executed in several counterparts,
      each of which will be deemed to be an original and all of which will
      together constitute one and the same instrument.

	 	 
	23. 	
      NOTICES

	 	 
	23.1 	
      Any notice required or permitted to be given under this
      Agreement will be in writing and may be given by personal service or by
      prepaid registered mail, and addressed to the proper party or transmitted
      by electronic facsimile generating proof of receipt of transmission at the
      address or facsimile number stated below:

	 	(a) 	
      if to Cheetah:

	 	 	 
	 		
      CHEETAH OIL & GAS LTD. 
Box 172 Station
A

	 		
      Nanaimo, British Columbia, Canada

	 	 	 
	 		
      Facsimile No.: 250.714.1186

	 	 	 
	 		
      with a copy to:

	 	 	 
	 		
      Macdonald Tuskey

	 		
      Suite 1210, 777 Hornby Street 
Vancouver, British
      Columbia V6Z 1S4 
Attention: William L.
Macdonald

- 17 - 

	 		
      Facsimile No.: +1 (604) 681-4760

	 	 	 
	 	(b) 	
      if to Lexaria:

	 	 	 
	 		
      LEXARIA CORP. 
604-700 West Pender Street
      
Vancouver, British Columbia V6C 1G8 
Canada

	 	 	 
	 		
      Facsimile No.: 604-685-1602
      
                         
      250-765-4408

	 	 	 
	 	(c) 	
      if to Delta:

	 	 	 
	 		
      DELTA OIL & GAS, INC. 
2600 144 4th Ave
      S.W. 
Alberta,

	 	 	 
	 		
      604-700 West Pender Street 
Vancouver, British
      Columbia V6C 1G8 
Canada

	 	 	 
	 		
      Facsimile No.: 604.602.1625

	 	 	 
	 	(d) 	
      if to Stallion:

	 	 	 
	 		
      THE STALLION GROUP 
604-700 West Pender Street
      
Vancouver, British Columbia V6C 1G8 
Canada

	 	 	 
	 		
      Facsimile No.: 604 602 1625

	 	 	 
	 		
      or to such other address or facsimile number as any party
      may specify by notice. Any notice sent by registered mail as aforesaid
      will be deemed conclusively to have been effectively given on the fifth
      business day after posting; but if at the time of posting or between the
      time of posting and the third business day thereafter there is a strike,
      lockout or other labour disturbance affecting postal service, then such
      notice will not be effectively given until actually received. Any notice
      transmitted by electronic facsimile will be deem conclusively to have been
      effectively given if evidence of receipt is obtained before 5:00 p.m.
      (recipient’s time) on a Business Day, and otherwise on the Business Day
      next following the date evidence of receipt of transmission is obtained by
      the sender.

	24. 	
      TENDER AND EXTENSIONS

	 	 
	24.1 	
      Tender may be made upon the Vendors or Purchasers or upon
      the solicitors for the Vendors or Purchasers and such solicitors are
      expressly authorized by their respective clients to confirm extensions of
      the Closing Date.

	 	 
	25. 	
      REFERENCE DATE

	 	 
	25.1 	
      This Agreement is dated for reference as of the date
      first above written, but will become binding as of the date of execution
      and delivery by all parties hereto and subject to compliance with the
      terms and conditions hereof, the transfer and possession of the Purchased
      Assets will be deemed to take effect as at the close
of

- 18 - 

		
      business on the Closing Date. References herein to the
      date of the Agreement or to the date hereof shall be deemed to mean the
      date set forth in the preamble to this Agreement.

	 	 
	26. 	
      REFERENCES TO AGREEMENT

	 	 
	26.1 	
      The terms “this Agreement”, “hereof’, “herein”, “hereby”,
      “hereto”, and similar terms refer to this Agreement and not to any
      particular clause, paragraph or other part of this Agreement. References
      to particular clauses are to clauses of this Agreement unless another
      document is specified.

IN WITNESS WHEREOF the parties have executed and delivered
these presents on the dates indicated below. 

CHEETAH OIL & GAS LTD. 

Per:     /s/
signed                                                                         
            Authorized
Signatory 

Dated: April 3,
2009                                                                 
 

 

LEXARIA CORP. 

Per:     /s/
signed                                                                         
            Authorized
Signatory 

Dated: April 3,
2009                                                                 
 

 

DELTA OIL & GAS, INC. 

Per:     /s/
signed                                                                         
            Authorized
Signatory 

Dated: April 3,
2009                                                                 
 

 

THE STALLION GROUP 

Per:     /s/
signed                                                                         
            Authorized
Signatory 

Dated: April 3,
2009                                                                 
 

LIST OF SCHEDULES 

	Schedule 	Description 
	 	 
	1A 	Description of
      Delta Assets 
	 	 
	1B 	Description of
      Stallion Assets 
	 	 
	2 	Legal and
      Regulatory Proceedings 
	 	 
	3 	Consents
  

SCHEDULE 1A 

DESCRIPTION OF DELTA ASSETS 

 

[All of Delta’s oil & gas assets presently held in the
State of Mississippi with Griffin & Griffin Exploration L.L.C. and their
associated companies including wells, reserves, infrastructure, permits,
pre-payments etc; including but not limited to the following:] 

Phase I 
Agreement(s) Dated 21st December 2005 & the
Amendment dated 27 July 2006 signed by Delta, noting rights, options and
obligations. 

PP F-12-1 PDP Oil Well 
PP F-12-3 PDP Oil Well 
PP F-39
PDP GasWell 
PP F-6B PDP Gas Well 
PP F-52A PNP Gas Well 
PP F-29 PDP
Gas Well 
PP F-42 PNP Gas Well 

Phase II 
Agreement(s) Dated 2nd August 2006
signed by Delta, noting rights, options and obligations. 

USA 1-37 PNP Gas Well 
USA 1-37 Gas Well 
USA 39-14 PNP
Gas Well 
BR F-33 PNP Gas Well 
Faust No. 1 PNP Gas Well

SCHEDULE 1B 

DESCRIPTION OF STALLION ASSETS 

[All of Stallion’s oil & gas assets presently held in
the State of Mississippi with Griffin & Griffin Exploration L.L.C. and their
associated companies including wells, reserves, infrastructure, permits,
pre-payments etc; including but not limited to the following:] 

Phase II 
Agreement(s) Dated 2 August 2006 signed by
Stallion, noting rights, options and obligations. 

USA 1-37 PNP Gas Well 
USA 1-37 Gas Well 
USA 39-14 PNP
Gas Well 
BR F-33 PNP Gas Well 

Faust No. 1 PNP Gas Well

SCHEDULE 2 

LEGAL AND REGULATORY PROCEEDINGS 

Delta

 

 

None 

 

 

 

 

 

 

 

Stallion 

 

 

None 

SCHEDULE 3 

CONSENTS 

Delta

         
1. Resolution of the Directors authorizing this Agreement and the
sale of the assets set out in Schedule 1A. 

 

 

 

 

 

 

 

 

 

Stallion 

         
1. Resolution of the Directors authorizing this Agreement and the
sale of the assets set out in Schedule 1B.Filed by sedaredgar.com - Future Canada China Environment Inc. - Exhibit 10.1

April 1, 2009

Future Canada China Environment Inc
Suite 437 – 114 West
Magnolia Street
Bellingham, Washington
USA. 98225

Dear Mr. Young,

This letter sets forth the basis on which Network 1 Financial
Securities, Inc (“Network”) is engaged by Future Canada China Environment Inc,
(the “Company”) to act as its financial advisor for its finance and acquisition
program for a six-month period beginning the date of this agreement.

	 	1. 	
      Performance of Services - Network shall provide the
      following services:

	 	 	 	 
	 		
      Acquisitions:

	 	 	 	 
	 		
      Network 1 will work with the Company’s staff in
      developing acquisition criteria both from the point of view of business
      compatibility and financial acceptability.

	 	 	 	 
	 		(a) 	
      Network will assist the Company in identifying companies
      in the targeted industries, which may include public companies, divisions
      of public companies, and privately held companies, and after evaluating
      such companies, assist in ranking them in terms of priority.

	 	 	 	 
	 		(b) 	
      Network will gather financial information on target
      companies. In those cases where the company, or a division of a public
      company, Network will utilize its contracts and sources of information to
      develop as complete a financial profile as possible. In the event outside
      consulting studies are desirable, Network will recommend such consultants
      and be prepared to retain them on behalf of the Company, with the
      Company’s prior approval.

	 	 	 	 
	 		(c) 	
      Network will evaluate the target companies from a
      financial viewpoint, providing an opinion as to value and the price level
      necessary to consummate a transaction.

	 	 	 	 
	 		(d) 	
      Network will contribute to the analysis of the target
      company’s desirability from both a business and product viewpoint,
      combining these conclusions with the judgment as to the likelihood of
      success.

	 	 	Corporate Planning and Development: 
	 	 	  	  
	 	 	(a) 	Network 1 will work with the Company on
      research and development planning as far as financial commitments. 

	 	 	 	 
	 	 	(b) 	Network 1 will introduce the Company to parties
      that will be able to assist the Company in the mineral and fertilizer,
      green eco friendly products, and any other industry that could be helpful
      in the development of the Company’s business or any other goal that may
      pretain to the business plan set forth by Future Canada China Enviroment
      Inc. 

	 	 	 	 
	 	 	(c) 	Network 1 will introduce the Company to parties
      in the financial community that follow the industry with a particular
      interest that meet the goals of Future Canada China Enviroment Inc. 

	 	 	 	 
	 	 	(d) 	Should the Company request, Network 1 will act
      as a liaison between shareholders and the Company.

	 	2. 	
      Financing

	 	 	 
			
      Should the company require additional capital on order to
      finance a specific acquisition and wish to raise these funds through a
      secondary issue of equity or private placement, the Company may request
      Network to serve as its investment banker for said purpose. Such financing
      shall occur at such time as the Company, in its sole discretion, shall
      deem appropriate. Terms, conditions, and compensation for said financing
      will be discussed when the Company requests Network 1 to raise funds
      through private placement.

	 	 	 
	 	3. 	
      Compensation for Services

	 	 	 
			
      The Company agrees to issue to Network 1 or its designees
      100,000 restricted common shares upon the execution of this agreement. In
      addition, if the Company or any of its affiliates acquire by means of
      merger, consolidation, joint venture, exchange offer, purchase of stocks
      or assets or other transactions, an entity as a result of submissions or
      introductions made by Network during the period of this Agreement, or if
      the Company uses the services of Network in conducting or assisting in
      negotiations in structuring a transactions with any party, the Company
      shall pay Network, or cause Network to be paid, at the closing of said
      transaction, a transaction fee to be negotiated prior to the time of
      transaction. The company, FCCE, shall pay for all legal and transfer fees
      in regards to unrestricting said shares.

	 	 	 
	 	4. 	
      Indemnity

	 	 	 
			
      Each party shall indemnify the other and its partners,
      officers, directors, and employees against all claims, damages, liability,
      and litigating expenses (including the expense of investigation and
      defending such claims) as the same as incurred, relating to or arising out
      of its activities hereunder , except to the
extent

			
      that any claims, damages, liability, or expense, if found
      on a final judgment by a court of law to have resulted from the other’s
      willful misconduct or gross negligence in performing the services
      described above.

	 	 	 
	 	5. 	
      Termination

	 	 	 
			
      This Agreement may be terminated after three months and
      must be agreed upon by both parties, at the end of any subsequent calendar
      month. The terminating party shall give written notice to the other party
      at least ten days prior to such termination. However, the 100,000 shares
      issued as inducement to enter into this agreement, shall remain in full
      force and effect upon termination of this agreement.

	 	 	 
	 	6. 	
      Entire Agreement

	 	 	 
			
      This Agreement sets forth the entire understanding of the
      parties relating to the subject matter hereof, and supersedes and cancels
      any prior communications, understanding, and agreements between the
      parties. This Agreement cannot be modified or change, nor can any of its
      provisions be waived, except in writing signed by all parties. However,
      all shares issued pursuant to this Agreement will remain in
  effect.

	 	 	 
	 	7. 	
      Governing Law

	 	 	 
			
      This Agreement shall be governed by the laws of the State
      of New York. The parties hereto agree to submit to the jurisdiction of the
      Supreme Court of the State of New York for the determination of any
      dispute arising this Agreement or in any action to enforce the terms
      hereof.

	 	 	 
			
      Please confirm the foregoing is in accordance with your
      understanding by signing and returning to us the duplicate of this
      letter.

	 	 	 
			
      Very truly yours,

	 	By:	 /s/ William Hunt                                        
	 	 	William Hunt 
	 	 	Network 1 Financial
      Securities 

 Accepted and Agreed to:

	 	By:	 /s/ Paul Young                                            
	 	 	Paul Young 
	 	 	President & CEO 
	 	 	Future Canada China Environment,
    Inc.

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