Document:

Exhibit
10.33

    

    LEASE AGREEMENT (English
Translation)

     

    Lessor
(hereinafter referred to as Party A) :Ms. Lifang
Chen

     

    Address:
12F, Building B, World Trade Center, NO.45, North Haiyu Road, Changshu City,
China 215500.

     

    Lessee
(hereinafter referred to as Party B) :Changshu Huaye Steel Strip
Co., Ltd.

     

    Address:
No.8, Huaye Road, Dongbang Industrial Park, Changshu City, Jiangsu Province,
PRC, 215534.

     

    In
accordance with relevant Chinese laws, decrees and pertinent rules and
regulations, Party A and Party B have entered into the following agreement (the
“Agreement”) through friendly consultation.

     

    Article
1 Location of the property

     

    Party A
will lease to Party B the premises and attached facilities owned by Party A,
which are located at 12F, Building B, World Trade Center, NO.45, North Haiyu
Road, Changshu City, China 215500 and in good condition to Party B.

     

    Article
2 Size of the property

     

    The
registered size of the leased property is 1,200 square meters (Floor
Space).

     

    Article
3 Lease term

     

    The term
of this lease is for three years, beginning on November 8, 2008, and ending on
November 8, 2011. Party A will vacate the premises and make it available for
Party B’s use by November 8, 2008.

     

    Article
4 Rent

     

    1. Party
B agrees to pay rent in the amount of RMB ONE HUNDRED TWENTY THOUSAND Yuan per
month. Each payment will be made in the form of cash. .

     

    2. The
rent shall be paid every three months. The first payment of rent will be made
before January 1, 2009. Each successive payment will be paid before the first
day of each corresponding month. Party B will pay the rent before using the
premises and attached facilities (In case Party B pays the rent via remittance,
the date of remitting will be the day of payment and Party B shall be
responsible for the remittance fees.) Party A will issue a written receipt after
receiving the payment.

     

    3. In
case the rent is more than ten days overdue, Party B will pay 0.5%of monthly
rental amount as late charge each day; if the rent is more than 15 days overdue,
Party B will be deemed breach of the Agreement by unilaterally terminating the
Agreement. In addition, Party A may repossess the property and has any other
right or remedy available to Party A on account of Party B’s
default.

     

    Article
5 Obligations of Party A

     

    1. Party
A will provide the premises and attached facilities timely to Party B for
using.

     

    2. In
case the premise and attached facilities are damaged by quality defects,
reasonable wear or tear or natural disasters, Party A will be responsible to
repair at its own expenses.

     

    3. Party
A makes representations and warranties that it has the legal rights to lease the
property to Party B. Party A shall be responsible for Party B’s losses due to
Party A’s breach of such representations and warranties.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article
6 Obligations of Party B

     

    1. Party
B may, following Party A’s consent, make additions to the property. Party B
will, upon the termination of the Agreement, remove such additions without
damaging the leased property.

     

    2. Party
B shall not sublease all or any part of the leased property without Party A’s
consent. Party B shall use the property with due care and be responsible for any
damages to the property caused by Party A’s fault or negligence.

     

    3. Party
B will use the property lawfully according to this Agreement and shall not use
the property for the purposes of storing inherently dangerous substance. Party B
shall be responsible for the damages caused by such misuse.

     

    4. Party
B shall timely pay all charges for water, electricity, gas, telecommunications,
cable and other services and utilities used by it on the leased property during
the term of this Agreement.  .

     

    Article
7 Termination of the Agreement

     

    1. Party
B shall notify Party A at least two months before the termination date of this
Agreement if it intends to renew the lease. Party B shall have the right of
first refusal if at any time Party A determines to lease the
property.

     

    2. Party
B shall, upon termination of this Agreement, vacate and return the property to
Party A on the date of termination. Any belongings left in the property without
Party A's prior consent will be deemed to be abandoned by Party B and Party A
has the right to dispose it.

     

    3. This
Agreement will be effective after being signed by both parties. No party shall
terminate this Agreement without the other party’s consent. Anything not covered
under this Agreement will be discussed separately by both parties.

     

    Article
8 Default

     

    1. Both
Parties will solve the disputes arising from execution of the Agreement or in
connection with the Agreement through friendly consultation. Either party may
submit any dispute failing friendly consultation to competent courts of China
for judgment.

     

    Article
9 Miscellaneous

     

    1. Any
appendix is an integral part of this Agreement. The appendix and this Agreement
have equal binding force.

     

    2. There
are two originals of this Agreement and each Party holds one
original(s).

     

    3. The
Parties have agreed to the following additional provisions:

     

    
      
        

      

       

    

    
      
        
          	
                  Party
      A: Ms. Lifang Chen

                	 
      	
                  Party
      B: Changshu Huaye Steel Strip

                  Co.,
      Ltd.

                
	 
      	 
      	 
      
	
                  /s/ Lifang Chen

                	 
      	
                  (Seal)

                
	 
      	 
      	 
      
	
                  Date:
      November 8, 2008

                	 
      	
                  Date:
      November 8, 2008Unassociated Document

     

    
      EXHIBIT
4.1

      

      THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A
PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933
ACT").

       

      NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR
ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR
SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO
U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE
1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING
TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
WITH THE 1933 ACT.  "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED
BY REGULATION S UNDER THE 1933 ACT.

      

      

      THESE
WARRANTS WILL EXPIRE AND BECOME NULL AND VOID

      AT 4:30
P.M. (CENTRAL STANDARD TIME) ON September 22, 2012.

       

      SHARE
PURCHASE WARRANTS

      TO
PURCHASE COMMON SHARES OF

      COBRA
OIL & GAS COMPANY

       

      Incorporated
in the State of Nevada

       

      THIS IS TO CERTIFY THAT Baden Energy
Group Ltd, (the “Holder”) as the holder of 600,000 warrants has the right to
purchase, upon and subject to the terms and conditions hereinafter referred to,
up to 600,000 fully paid
and non-assessable common shares (the “Shares”) in the capital of Cobra Oil
& Gas Company (hereinafter called the “Company”) on or before 4:30 p.m.
(Central Standard time) on September 22, 2012 (the “Expiry Date”) at a price per
Share (the “Exercise Price”) of US$1.25 on the terms and conditions attached
hereto as Appendix “A” (the “Terms and Conditions”).

       

      
        	
                 
      

              	
                1.

              	
                ONE
      (1) WARRANT AND THE EXERCISE PRICE ARE REQUIRED TO PURCHASE ONE
      SHARE.  THIS CERTIFICATE REPRESENTS
  WARRANTS.

              

      

       

      
        	
                 
      

              	
                2.

              	
                These
      Warrants are issued subject to the Terms and Conditions, and the Warrant
      Holder may exercise the right to purchase Shares only in accordance with
      those Terms and Conditions.

              

      

       

      
        	
                 
      

              	
                3.

              	
                Nothing
      contained herein or in the Terms and Conditions will confer any right upon
      the Holder hereof or any other person to subscribe for or purchase any
      Shares at any time subsequent to the Expiry Date, and from and after such
      time, this Warrant and all rights hereunder will be void and of no
      value.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      - 2 -

       

       

      IN WITNESS WHEREOF the Company has
executed this Warrant Certificate this 22nd day of
September, 2009.

       

      COBRA
OIL & GAS COMPANY

       

       

      Per:          /s/ Massimiliano
Pozzoni                                                                  

      Authorized Signatory

       

      PLEASE
NOTE THAT ALL SHARE CERTIFICATES MUST BE LEGENDED AS FOLLOWS DURING THE CURRENCY
OF APPLICABLE HOLD PERIODS:

       

      THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A
PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933
ACT").

       

      NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR
ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR
SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO
U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE
1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING
TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
WITH THE 1933 ACT.  "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED
BY REGULATION S UNDER THE 1933 ACT.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      APPENDIX
“A”

      

      TERMS AND
CONDITIONS dated September 22, 2009, attached to the Warrants issued by Cobra
Oil & Gas Company.

       

      
        	
                1.  

              	
                INTERPRETATION

              

      

       

      
        	
                1.1

              	
                Definitions

              

      

       

      In these
Terms and Conditions, unless there is something in the subject matter or context
inconsistent therewith:

       

      
        
          	
                	
                  (a) 

                	
                  “Company”
      means Cobra Oil & Gas Company until a successor corporation will have
      become such as a result of consolidation, amalgamation or merger with or
      into any other corporation or corporations, or as a result of the
      conveyance or transfer of all or substantially all of the properties and
      estates of the Company as an entirety to any other corporation and
      thereafter “Company” will mean such successor
  corporation;

                

        

      

       

      
        
          	
                	
                  (b) 

                	
                  “Company’s
      Auditors” means an independent firm of accountants duly appointed as
      auditors of the Company;

                

        

      

       

      
        
          	
                	
                  (c) 

                	
                  “Director”
      means a director of the Company for the time being, and reference, without
      more, to action by the directors means action by the directors of the
      Company as a Board, or whenever duly empowered, action by an executive
      committee of the Board;

                

        

      

       

      
        
          	
                	
                  (d) 

                	
                  “herein”,
      “hereby” and similar expressions refer to these Terms and Conditions as
      the same may be amended or modified from time to time; and the expression
      “Article” and “Section,” followed by a number refer to the specified
      Article or Section of these Terms and
  Conditions;

                

        

      

       

      
        
          	
                	
                  (e) 

                	
                  “person”
      means an individual, corporation, partnership, trustee or any
      unincorporated organization and words importing persons have a similar
      meaning;

                

        

      

       

      
        
          	
                	
                  (f) 

                	
                  “shares”
      means the common shares in the capital of the Company as constituted at
      the date hereof and any shares resulting from any subdivision or
      consolidation of the shares;

                

        

      

       

      
        
          	
                	
                  (g) 

                	
                  “Warrant
      Holders” or “Holders” means the holders of the Warrants;
    and

                

        

      

       

      
        
          	
                	
                  (h) 

                	
                  “Warrants”
      means the warrants of the Company issued and presently authorized and for
      the time being outstanding.

                

        

      

       

      
        	
                1.2

              	
                Gender

              

      

       

      Words
importing the singular number include the plural and vice versa and words
importing the masculine gender include the feminine and neuter
genders.

       

      
        	
                1.3

              	
                Interpretation not
      affected by Headings

              

      

       

      The
division of these Terms and Conditions into Articles and Sections, and the
insertion of headings are for convenience of reference only and will not affect
the construction or interpretation thereof.

       

      
        	
                1.4

              	
                Applicable
      Law

              

      

       

      The
Warrants will be construed in accordance with the laws of the State of
Nevada.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
         

        - 2 -

         

         

         

      

      
        	
                2.  

              	
                ISSUE OF
      WARRANTS

              

      

       

      
        	
                2.1

              	
                Additional
      Warrants

              

      

       

      The
Company may at any time and from time to time issue additional warrants or grant
options or similar rights to purchase shares of its capital stock.

       

      
        	
                2.2

              	
                Warrant to Rank
      Pari
      Passu

              

      

       

      All
Warrants and additional warrants, options or similar rights to purchase shares
from time to time issued or granted by the Company, will rank pari passu whatever may be
the actual dates of issue or grant thereof, or of the dates of the certificates
by which they are evidenced.

       

      
        	
                2.3

              	
                Issue in substitution
      for Lost Warrants

              

      

       

      
        
          	
                	
                  (a) 

                	
                  In
      case a Warrant becomes mutilated, lost, destroyed or stolen, the Company,
      at its discretion, may issue and deliver a new Warrant of like date and
      tenor as the one mutilated, lost, destroyed or stolen, in exchange for and
      in place of and upon cancellation of such mutilated Warrant, or in lieu
      of, and in substitution for such lost, destroyed or stolen Warrant and the
      substituted Warrant will be entitled to the benefit hereof and rank
      equally in accordance with its terms with all other Warrants issued or to
      be issued by the Company.

                

        

      

       

      
        
          	
                	
                  (b) 

                	
                  The
      applicant for the issue of a new Warrant pursuant hereto will bear the
      cost of the issue thereof and in case of loss, destruction or theft
      furnish to the Company such evidence of ownership and of loss,
      destruction, or theft of the Warrant so lost, destroyed or stolen as will
      be satisfactory to the Company in its discretion and such applicant may
      also be required to furnish indemnity in amount and form satisfactory to
      the Company in its discretion, and will pay the reasonable charges of the
      Company in connection
therewith.

                

        

      

       

      
        	
                2.4

              	
                Warrant Holder Not a
      Shareholder

              

      

       

      The
holding of a Warrant will not constitute the Holder thereof a shareholder of the
Company, nor entitle him to any right or interest in respect thereof except as
in the Warrant expressly provided.

       

      
        	
                3.  

              	
                NOTICE

              

      

       

      
        	
                3.1

              	
                Notice to Warrant
      Holders

              

      

       

      Any
notice required or permitted to be given to the Holders will be in writing and
may be given by prepaid registered post, electronic facsimile transmission or
other means of electronic communication capable of producing a printed copy to
the address of the Holder appearing on the Holder’s Warrant or to such other
address as any Holder may specify by notice in writing to the Company, and any
such notice will be deemed to have been given and received by the Holder to whom
it was addressed if mailed, on the third day following the mailing thereof, if
by facsimile or other electronic communication, on successful transmission, or,
if delivered, on delivery; but if at the time or mailing or between the time of
mailing and the third business day thereafter there is a strike, lockout, or
other labour disturbance affecting postal service, then the notice will not be
effectively given until actually delivered.

       

      
        	
                3.2

              	
                Notice to the
      Company

              

      

       

      Any
notice required or permitted to be given to the Company will be in writing and
may be given by prepaid registered post, electronic facsimile transmission or
other means of electronic communication capable of producing a printed copy to
the address of the Company set forth below or such other address as the Company
may specify by notice in writing to the Holder, and any such notice will be
deemed to have been given and received by the Company to whom it was addressed
if mailed, on the third day following the mailing thereof, if by facsimile or
other electronic communication, on successful transmission, or, if delivered, on
delivery; but if at the time or mailing or between the time of mailing and the
third business day thereafter there is a strike, lockout, or other labour
disturbance affecting postal service, then the notice will not be effectively
given until actually delivered:

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
         

        - 3 -

         

         

         

      

      Cobra Oil
& Gas Company

      Uptown
Center

      2100 West
Loop South, Suite 900

      Houston,
Texas 77027

       

      Attention:
Max Pozzoni

       

      Fax
No.  (832) 218 3687

       

      

       

      
        	
                4.  

              	
                EXERCISE OF
      WARRANTS

              

      

       

      
        	
                4.1

              	
                Method of Exercise of
      Warrants

              

      

       

      The right
to purchase shares conferred by the Warrants may be exercised by the Holder
surrendering the Warrant Certificate representing same, with a duly completed
and executed subscription in the form attached hereto and a bank draft or
certified cheque payable to or to the order of the Company, in Houston, Texas
for the purchase price applicable at the time of surrender in respect of the
shares subscribed for in lawful money of the United States of America, to the
Company at the address set forth in, or from time to time specified by the
Company pursuant to, Section 3.2.

       

      
        	
                4.2

              	
                Effect of Exercise of
      Warrants

              

      

       

      
        
          	
                	
                  (a) 

                	
                  Upon
      surrender and payment as aforesaid the shares so subscribed for will be
      deemed to have been issued and such person or persons will be deemed to
      have become the Holder or Holders of record of such shares on the date of
      such surrender and payment, and such shares will be issued at the
      subscription price in effect on the date of such surrender and
      payment.

                

        

      

       

      
        
          	
                	
                  (b) 

                	
                  Within
      ten business days after surrender and payment as aforesaid, the Company
      will forthwith cause to be delivered to the person or persons in whose
      name or names the shares so subscribed for are to be issued as specified
      in such subscription or mailed to him or them at his or their respective
      addresses specified in such subscription, a certificate or certificates
      for the appropriate number of shares not exceeding those which the Warrant
      Holder is entitled to purchase pursuant to the Warrant
      surrendered.

                

        

      

       

      
        	
                4.3

              	
                Subscription for Less
      Than Entitlement

              

      

       

      The
Holder of any Warrant may subscribe for and purchase a number of shares less
than the number which he is entitled to purchase pursuant to the surrendered
Warrant. In the event of any purchase of a number of shares less than the number
which can be purchased pursuant to a Warrant, the Holder thereof upon exercise
thereof will in addition be entitled to receive a new Warrant in respect of the
balance of the shares which he was entitled to purchase pursuant to the
surrendered Warrant and which were not then purchased.

       

      
        	
                4.4

              	
                Warrants for Fractions
      of Shares

              

      

       

      To the
extent that the Holder of any Warrant is entitled to receive on the exercise or
partial exercise thereof a fraction of a share, such right may be exercised in
respect of such fraction only in combination with another Warrant or other
Warrants which in the aggregate entitle the Holder to receive a whole number of
such shares.

       

      
        	
                4.5

              	
                Expiration of
      Warrants

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
         

        - 4 -

         

         

         

      

      After the
expiration of the period within which a Warrant is exercisable, all rights
thereunder will wholly cease and terminate and such Warrant will be void and of
no effect.

       

      
        	
                4.6

              	
                Time of
      Essence

              

      

       

      Time will
be of the essence hereof.

       

      
        	
                4.7

              	
                Subscription
      Price

              

      

       

      Each
Warrant is exercisable at a price per share (the “Exercise Price”) of
US$1.25.  One (1) Warrant and the Exercise Price are required to
subscribe for each share during the term of the Warrants.

       

      
        	
                4.8

              	
                Adjustment of Exercise
      Price

              

      

       

      
        
          	
                	
                  (a) 

                	
                  The
      Exercise Price and the number of shares deliverable upon the exercise of
      the Warrants will be subject to adjustment in the event and in the manner
      following:

                

        

      

       

      
        
          	
                	
                  (i) 

                	
                  If
      and whenever the shares at any time outstanding are subdivided into a
      greater or consolidated into a lesser number of shares the Exercise Price
      will be decreased or increased proportionately as the case may be; upon
      any such subdivision or consolidation the number of shares deliverable
      upon the exercise of the Warrants will be increased or decreased
      proportionately as the case may
be.

                

        

      

       

      
        
          	
                	
                  (ii) 

                	
                  In
      case of any capital reorganization or of any reclassification of the
      capital of the Company or in the case of the consolidation, merger or
      amalgamation of the Company with or into any other Company (hereinafter
      collectively referred to as a “Reorganization”), each Warrant will after
      such Reorganization confer the right to purchase the number of shares or
      other securities of the Company (or of the Company’s resulting from such
      Reorganization) which the Warrant Holder would have been entitled to upon
      Reorganization if the Warrant Holder had been a shareholder at the time of
      such Reorganization.

                

        

      

       

      
        	
              	
                 

              	
                In
      any such case, if necessary, appropriate adjustments will be made in the
      application of the provisions of this Article Four relating to the rights
      and interest thereafter of the Holders of the Warrants so that the
      provisions of this Article Four will be made applicable as nearly as
      reasonably possible to any shares or other securities deliverable after
      the Reorganization on the exercise of the
  Warrants.

              

      

       

      
        	
              	
                 

              	
                The
      subdivision or consolidation of shares at any time outstanding into a
      greater or lesser number of shares (whether with or without par value)
      will not be deemed to be a Reorganization for the purposes of this clause
      4.8(a)(ii).

              

      

       

      
        
          	
                	
                  (b) 

                	
                  The
      adjustments provided for in this Section 4.8 are cumulative and will
      become effective immediately after the record date or, if no record date
      is fixed, the effective date of the event which results in such
      adjustments.

                

        

      

       

      
        	
                4.9

              	
                Determination of
      Adjustments

              

      

       

      If any
questions will at any time arise with respect to the Exercise Price or any
adjustment provided for in Section 4.8, such questions will be conclusively
determined by the Company’s Auditors, or, if they decline to so act any other
firm of certified public accountants in the United States of America that the
Company may designate and who will have access to all appropriate records and
such determination will be binding upon the Company and the Holders of the
Warrants.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
         

        - 5 -

         

         

         

      

      
        	
                5.  

              	
                COVENANTS BY THE
      COMPANY

              

      

       

      
        	
                5.1

              	
                Reservation of
      Shares

              

      

       

      The
Company will reserve and there will remain unissued out of its authorized
capital a sufficient number of shares to satisfy the rights of purchase provided
for herein and in the Warrants should the Holders of all the Warrants from time
to time outstanding determine to exercise such rights in respect of all shares
which they are or may be entitled to purchase pursuant thereto and
hereto.

       

      
        	
                6.  

              	
                WAIVER OF CERTAIN
      RIGHTS

              

      

       

      
        	
                6.1

              	
                Immunity of
      Shareholders, etc.

              

      

       

      The
Warrant Holder, as part of the consideration for the issue of the Warrants,
waives and will not have any right, cause of action or remedy now or hereafter
existing in any jurisdiction against any past, present or future incorporator,
shareholder, Director or Officer (as such) of the Company for the issue of
shares pursuant to any Warrant or on any covenant, agreement, representation or
warranty by the Company herein contained or in the Warrant.

       

      
        	
                7.  

              	
                MODIFICATION OF TERMS,
      MERGER, SUCCESSORS

              

      

       

      
        	
                7.1

              	
                Modification of Terms
      and Conditions for Certain
Purposes

              

      

       

      From time
to time the Company may, subject to the provisions of these presents, modify the
Terms and Conditions hereof, for the purpose of correction or rectification of
any ambiguities, defective provisions, errors or omissions herein.

       

      
        	
                7.2

              	
                Warrants Not
      Transferable

              

      

       

      The
Warrant and all rights attached to it are not transferable.

       

      DATED as
of the date first above written in these Terms and Conditions.

       

      
        
          	 	COBRA OIL & GAS
      COMPANY	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/
      Massimiliano Pozzoni 	 
	 	 	MASSIMILIANO
      POZZONI 	 
	 	 	 	 

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        - 6 -

         

         

         

      

      FORM OF
SUBSCRIPTION

       

      
        	
                TO:

              	
                Cobra
      Oil & Gas Company

              

      

      
        	
                 
      

              	
                Uptown
      Center

              

      

      
        	
                 
      

              	
                2100
      West Loop South, Suite 900

              

      

      
        	
                 
      

              	
                Houston,
      Texas 77027

              

      

       

      The
undersigned Holder of the within Warrants hereby subscribes for 600,000 common
shares (the “Shares”) of Cobra Oil & Gas Company (the “Company) pursuant to
the within Warrants at US$1.25 per Share on the terms specified in the said
Warrants.  This subscription is accompanied by a certified cheque or
bank draft payable to or to the order of the Company for the whole amount of the
purchase price of the Shares.

       

      The
undersigned Holder hereby certifies that the undersigned is not a U.S. person
and is not subscribing for the Shares on Behalf of a U.S. person.

       

      The
undersigned hereby directs that the Shares be registered as
follows:

       

      

      
        	
                NAME(S) IN
      FULL

              	 
      	
                ADDRESS(ES)

              	 
      	
                NUMBER OF
      SHARES

              
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 
      	 
      	
                TOTAL:

              	 
      	 
      

      

       

      (Please
print full name in which share certificates are to be issued, stating whether
Mr., Mrs. or Miss is applicable).

       

      DATED
this ________  day of __________________ , ______.

       

      In the
presence of:

       

       

      
        
          	 
      	 	 
      
	
                  Signature
      of Warrant Holder

                	 	
                  Signature
      of Witness

                

        

      

       

      Please
print below your name and address in full.

       

      
        
          	
                  Name
      (Mr./Mrs./Miss)

                	 
      	 
      
	 	 	 
	
                  Address

                	 
      	 
      
	 
      	 
      	 
      
	 	 	 

        

      

      

       

      INSTRUCTIONS FOR
SUBSCRIPTION

       

      The
signature to the subscription must correspond in every particular with the name
written upon the face of the Warrant without alteration or enlargement or any
change whatever.  If there is more than one subscriber, all must
sign.

       

      In the
case of persons signing by agent or attorney or by personal representative(s),
the authority of such agent, attorney or representative(s) to sign must be
proven to the satisfaction of the Company.

       

      If the
Warrant certificate and the form of subscription are being forwarded by mail,
registered mail must be employed.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]