Document:

EXHIBIT 10.2

Exhibit 10.2

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Endnotes

- 20 -EXHIBIT 10.4 - Agreement for Projects

EXHIBIT  10.4

AGREEMENT FOR PROJECTS

This Agreement for Projects (“Agreement”) is entered into by International Integration Oil & Gas Construction Syndicate (“Minneftegazstroi”), represented by its General Director, Alibekov Yakhya Imranovich, The Sahara Group, Inc., a Delaware (U.S.) corporation (“Sahara Group”), represented by its President, Rusbek Bisultanov, and Firecreek Petroleum, Inc., a Delaware (U.S.) corporation (“Firecreek”), represented by its President, John R. Taylor.

1.

Minneftegazstroi is entering into an agreement (the “Tekhnoton Agreement”) to purchase 90% of the stock of Tekhnoton, a Russian company (“Tekhnoton”). The other 10% is owned by Krasnador Admin. The proposed form of the Tekhnoton Agreement is attached as Exhibit “A”. The parties agree that the purchase of Tekhnoton stock will be done in such a manner so that the parties own such stock as follows:

a.

25% of the stock of Tekhnoton shall be owned by Minneftegazstroi. It is contemplated that the shares owned by Krasnodar Admin will be acquired within one year. At that time, Minneftegazstroi will receive one-half of the 10% now owned by Krasnodar Admin, so that Minneftegazstroi will then own 30% of Tekhnoton.

b.

65% of the stock of Tekhnoton shall be shared by a Russian subsidiary company to be formed by Sahara Group (“Sahara Group Russia”) and by a Russian subsidiary company to be formed by Firecreek (“Firecreek Russia”) on a basis mutually acceptable to them. When the shares now owned by Krasnodar Admin are acquired, one-half of the 10% now owned by Krasnodar Admin will be shared by Sahara Group Russia and Firecreek Russia on a basis mutually acceptable to them, so that they will then together own 70% of Tekhnoton.

2.

The parties will enter into an agreement such that the directors of Tekhnoton will always be: 2 directors designated by Minneftegazstroi; 2 directors designated by Firecreek Russia; and 2 directors designated by Sahara Group Russia. It is anticipated that these directors will include: for Firecreek - John R. Taylor and William E. Merritt; for Sahara Group Russia - , Rusbek Bisultanov and David A. Christian; and for Minneftegazstroi - Alibekov Yakhya Imranovich and one other person designated by Minneftegazstroi. This agreement will provide that the officers will include (but not be limited to) the following: General Manager – Rusbek Bisultanov; President - John R. Taylor; Senior Vice President - Alibekov Yakhya Imranovich; Vice President – William E. Merritt; Vice President – David A. Christian. Salaries of directors and officers will be determined by the board.

3.

Tekhnoton owns licenses covering certain Russian oil and gas fields (these fields are referred to as the “Tekhnoton Fields”). Copies of these licenses are attached as Exhibit “B”. Minneftegazstroi states that the purchase of the stock of Tekhnoton by the parties will not affect the licenses, and the licenses will be in full force and effect after the purchase. The parties intend to determine and accomplish projects for the Tekhnoton Fields.

4.

The board of Tekhnoton will adopt a policy, mutually acceptable to the parties, requiring the unanimous consent of the directors to approve work programs, budgets, quarterly expenditures, and other matters customarily provided in a standard joint venture oil field operating agreement. This policy will be proposed by Firecreek for the review and approval of the parties within 30 days after the date of this Agreement.

5.

Exhibit “C” lists fields for which the parties have entered into negotiations to acquire the license rights or use of the license rights. These negotiations are continuing. The parties agree to cooperate diligently to complete such negotiations, without guaranty that rights to such fields will be acquired.

6.

Firecreek Russia will arrange funding for the projects as approved by the parties. The budgets for the Tekhnoton Fields will be agreed upon by the parties within 30 days after the date of this Agreement. The budgets will include the amount needed by New Company to perform due diligence review of Tekhnoton and to purchase the stock of Tekhnoton. The obligations of the parties under this Agreement are conditioned upon satisfactory audit of Tekhnoton.

7.

This Agreement is subject to approval of the boards of directors of the parties being obtained within 10 days after the date of this Agreement.

Executed as of the 14th day of June, 2005.

The Sahara Group, Inc.

Minneftegazstroi

Firecreek Petroleum, Inc.

By: 

/s/ Rusbek Bisultanov

By: /s/ Alibekov Yakhya Imranovich

By: /s/ John R. Taylor

Rusbek Bisultanov

Alibekov Yakhya Imranovich

John R. Taylor

President

General Director

President

Exhibit “A”

Tekhnoton Agreement

Exhibit “B”

Tekhnoton Licenses

Exhibit “C”

Oil and Gas Field Acquisition and Development

The acquisition and development of oil and gas fields in the Krasnodar and Stavropol States of the Russian Federation will take place in two stages. The first stage will be comprised of the two Tekhnoton Fields (the Protoka and Temryukskiy Yuzh fields), and the additional fields of:

Abinskoye – Krasnodar Krie

Doobskoye – Krasnodar Krie

Koshekhablskoye – Krasnodar Krie

Vorobevskoye – Stavropol Krie

Chepakovskoye – Stavropol Krie

The second stage are fields that had been previously identified for acquisition but have become delayed due to management change. It is anticipated that after the internal personnel problems are resolved, negotiations will resume and the transactions may be completed. These fields:

Anastasiyevsko-Troitskoye

Kurchanskoye

Ukrainskoye

Abino-Ukrainskoye

LevkinskoyeEXHIBIT 10.5 - AGREEMENT REGARDING SEAPORT

Exhibit 10.5

AGREEMENT REGARDING SEAPORT

A1.

The Sahara Group, Inc., a Delaware USA Corporation (“Sahara Group”), 6777 Camp Bowie, Suite 332, Fort Worth, Texas, USA 76116, represented by its President, Rusbek Bisultanov,

A2.

Firecreek Petroleum, Inc., a Delaware Corporation (“Firecreek”), 6777 Camp Bowie, Suite 332, Fort Worth, Texas, USA 76116, represented by its President, John R. Taylor, and

A3.

International Integration Oil & Gas Construction Syndicate (“Minneftegazstroi”), 123007, Moscow, 25A Magistralnaya Str., Build. 1, represented by its General Director, Alibekov Yakhya lmranovich, acting on the basis of its Charter,

Whereas, Sahara Group, Firecreek and Minneftegazstroi (the “Parties”) desire to conduct a study to determine the feasibility of developing and operating certain seaport facilities and, based on the results of such study, to enter into an agreement to develop and operate such facilities, the Parties agree as follows:

1.

SUBJECT OF THE AGREEMENT. The Parties will cause a feasibility study to be performed as described in this Agreement. If the Parties mutually approve the results of the study, the Parties will enter into one or more agreements for the development of the matters covered by such study.

2.

MATTERS TO BE COVERED BY THE FEASIBILITY STUDY.  The feasibility study will include the following matters:

(a)

Acquisition of the Gelenzhik Seaport and a three-year upgrade, expansion and modernization program;

(b)

Implementation of commercial shipping operations, including on-site customs and import/export permit issuance;

(c)

Construction of processing and collection facilities adequate to support production and marketing of high-end residuals and gas condensate;

(d)

Establishment of transfer facilities as needed to store and ship high-end residuals and gas condensate tanks to foreign markets;

(e)

Acquisition of 19+ hectars of land at the seaport of Tuapse for the purpose of oil treatment and refining and export of oil and refined products;

(f)

Acquisition, installation and operation of a refinery, complete with two-million barrel capacity tank farm for oil to be treated and/or refined for export;

(g)

Establishment of oil and/or gas exchange agreement with TransNeft, allowing the movement of oil and gas through TransNeft pipeline to port; and

(h)

Construction of offshore terminal / loading facility, with connecting subsurface pipeline from refinery to terminal.

3.

DETAILED DESCRIPTION OF FEASIBILITY STUDY. The Parties will cooperate to prepare a detailed statement of the matters to be accomplished by the feasibility study within thirty (30) days after the date of this Agreement.

4.

COST OF FEASIBILITY STUDY. The cost of the feasibility study is estimated to be US$500,000. This cost will be advanced by Firecreek subject to approval by funding source of the detailed statement of the matters to be accomplished by the feasibility study. If a project is mutually approved by the Parties as a result of the feasibility study, the cost of the feasibility study shall be reimbursed to Firecreek and/or other parties providing funding for the feasibility study.

5.

PROJECTS. Upon receipt of the feasibility study, the Parties will review and discuss the same and determine the projects, if any, to be established, developed and operated based on the results of the feasibility study. At the time a project is mutually approved by the Parties, the Parties will form the necessary registered companies to accomplish the project. The sharing ratios of the Parties shall be similar to those in the Tekhnoton project of the Parties.

6.

MISCELLANEOUS

(a)

The Parties may not assign their rights under this Agreement to any other person without the consent of the other Parties.

(b)

Notices or other communications under this Agreement shall be properly served if delivered by hand or sent by fax (as demonstrated by confirmation of successful fax transmission) to a fax machine at the 

address set out in Clause 7, or by any other method reasonably expected to result in delivery within one business day.

(c)

This Agreement is executed in Russian and English. In the event of inconsistency between the Russian and English text, the Russian shall prevail.

(d)

Each of the Parties will keep confidential the terms of this Agreement  and the results of the feasibility study, except each Party may disclose this information to its professional advisers, affiliates, agents and potential lenders, and to satisfy governmental requirements.

(e)

This Agreement will be governed by Russian law. All disputes under this Agreement will be resolved in the commercial (arbitrazh) court of Moscow, Russia.

(f)

The Parties agree to work together in good faith to accomplish the purpose of this Agreement and further agree that they will not circumvent one another in accomplishing such purposes.

(g)

This Agreement may be executed in multiple counterparts and by facsimile signatures.

(h)

This Agreement is subject to approval by the boards of directors of the Parties by 1 July 2005.

7.

DETAILS OF THE PARTIES.

A1.

The Sahara Group, Inc., a Delaware, USA Corporation

Firecreek Petroleum, Inc., a Delaware, USA Corporation, Operator

6777 Camp Bowie, Suite 332

Fort Worth, Texas, USA 76116

A2.

Firecreek Petroleum, Inc., a Delaware, USA Corporation

6777 Camp Bowie, Suite 332

Fort Worth, Texas, USA 76116

A3.

International Integration Oil & Gas Construction Syndicate

TIN 7714271263, TRRC 7711401001

s/a 40703810400100002532, c/a 30101810300000000600 in Oktyabrskiy branch of JSCB

“Moskovskiy lndustrialniy Bank”, BIC 044525600

Legal address: 123007, Moscow, 25A Magistralnaya Str., Build. 1.

The date of this Agreement is 16 June 2005. 

This Agreement is made in one copy for each Party which shall be kept with responsible officials of each Party.

Signatures of the Parties:

The Sahara Group, Inc.

By: 

Rusbek Bisultanov, President

International Integration Oil & Gas Construction Syndicate

By: 

Alibekov Yakhya lmranovich, General Director

Firecreek Petroleum, Inc.

By: 

John R. Taylor, President

 

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