Document:

EXHIBIT 4.3
                           CERTIFICATE OF DESIGNATION,
                             PREFERENCES AND RIGHTS
                                       OF
                            SERIES A PREFERRED STOCK
                                       OF
                               ASSURE ENERGY, INC.

     Assure Energy, Inc., a corporation organized and existing under the laws of
the State of Delaware (the "Company"), hereby certifies that the following
resolutions were adopted by the Board of Directors of the Company pursuant to
the authority of the Board of Directors as required by Section 151 of the
Delaware General Corporation Law (the "DGCL").

RESOLVED, that pursuant to the authority granted to and vested in the Board of
Directors of this Company (the "Board of Directors" or the "Board") in
accordance with the provisions of its Certificate of Incorporation and Bylaws,
each as amended through the date hereof, the Board of Directors hereby
authorizes a series of the Company's previously authorized Preferred Stock, par
value $.0001 per share (the "Preferred Stock"), and hereby states the
designation and number of shares, and fixes the relative rights, preferences,
privileges, powers and restrictions thereof as follows:

                           I.     CERTAIN DEFINITIONS

     For purposes of this Certificate of Designation, capitalized terms are
defined in this Certificate of Designation or shall have the following meanings:

      "Common Stock" means the common stock of the Company, $.001 par value per
share.

      "Issuance Date" means the date of execution of the Convertible Preferred
Stock Purchase Agreement with respect to the issuance of the Series A Preferred
Stock.

      "Per Share Market Value" means on any particular date the closing bid
price per share of the Common Stock on such date on The Over-The-Counter
Bulletin Board, the OTC Bulletin Board(R) ("OTCBB") or other stock exchange on
which the Common Stock has been listed or if there is no such price on such
date, then the last bid price on such exchange on the date nearest preceding
such date.

      "Person" means an individual or a corporation, partnership, trust,
incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or political subdivision
thereof) or other entity of any kind.

      "Purchase Agreement" is the Convertible Preferred Stock Purchase Agreement
by and among the Company and the Purchasers set forth in Schedule 1 thereto (the
"Purchasers").

      "Trading Day" means (a) a day on which the Common Stock is quoted on the
OTCBB or principal stock exchange on which the Common Stock has been listed, or
(b) if the Common Stock is not quoted on the OTCBB or any stock exchange, a day
on which the Common Stock is quoted in the over-the-counter market, as reported
by the National Association of Securities Dealers, Inc. ("NASD"), or (c) if the
Common Stock is not quoted on the NASD, a day on which the Common Stock is
quoted in the over-the-counter market as reported by the National Quotation
Bureau Incorporated (or any similar organization or agency succeeding its
functions of reporting prices).

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                         II.     DESIGNATION AND AMOUNT

     The designation of this series, which consists of Seventeen Thousand Five
Hundred (17,500) shares of Preferred Stock, is the Series A Preferred Stock (the
"Series A Preferred Stock") and the stated value shall be One Hundred U.S.
Dollars ($100.00) per share (the "Stated Value").

                               III.     DIVIDENDS

     The holders of the shares of Series A Preferred Stock as they appear on the
stock records of the Company ("Holder" or "Holders") shall be entitled to
receive, the Board of Directors shall be obligated to declare and the Company
shall be obligated to pay, out of funds legally available for the payment of
dividends, dividends in cash or (as provided herein) shares of Common Stock at
the rate of five percent (5%) per annum (computed on the basis of a 360-day
year) (the "Dividend Rate") on the Stated Value of each share of Series A
Preferred Stock.  Dividends on the Series A Preferred Stock shall be cumulative
from the Issuance Date.

     (a)     Dividends shall be payable annually as of each anniversary of the
Issuance Date until the earlier of redemption or conversion, to the Holders of
record of shares of the Series A Preferred Stock, as they appear on the stock
records of the Company.  An additional dividend shall be payable with respect to
converted or redeemed shares of Series A Preferred Stock, which shall be payable
as of the date of conversion or redemption, as the case may be.  The annual
anniversary date as of which dividend payments are due or the date of conversion
or redemption as of which an additional dividend payment is due is hereafter
referred to as the Dividend Payment Date.

     (b)     The dividend shall be paid in (i) cash or (ii) through the issuance
of duly and validly authorized and issued, fully paid and non-assessable, shares
of Common Stock valued at the average closing bid price of the Common Stock
during the 10 Trading Day period immediately preceding the Dividend Payment
Date.

     (c)     So long as any shares of the Series A Preferred Stock are
outstanding, no dividends, except as described in the next succeeding sentence,
shall be declared or paid or set apart for payment on Pari Passu Securities (as
defined in Section VII herein) for any period unless full cumulative dividends
required to be paid in cash have been or contemporaneously are declared and paid
or declared and a sum sufficient for the payment thereof set apart for such
payment on the Series A Preferred Stock for all dividend payment periods
terminating on or prior to the date of payment of the dividend on such class or
series of Pari Passu Securities.  When dividends are not paid in full or a sum
sufficient for such payment is not set apart, as aforesaid, all dividends
declared upon shares of the Series A Preferred Stock and all dividends declared
upon any other class or series of Pari Passu Securities shall be declared
ratably in proportion to the respective amounts of dividends accumulated and

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unpaid on the Series A Preferred Stock and accumulated and unpaid on such Pari
Passu Securities.

     (d)     So long as any shares of the Series A Preferred Stock are
outstanding, no dividends shall be declared or paid or set apart for payment or
other distribution declared or made upon Junior Securities (as defined in
Section VII herein), nor shall any Junior Securities be redeemed, purchased or
otherwise acquired (other than a redemption, purchase or other acquisition of
shares of Common Stock made for purposes of an employee incentive or benefit
plan (including a stock option plan) of the Company or any subsidiary) for any
consideration (or any moneys be paid to or made available for a sinking fund for
the redemption of any shares of any such stock) by the Company, directly or
indirectly, unless in each case (i) the full cumulative dividends required to be
paid in cash on all outstanding shares of the Series A Preferred Stock and any
other Pari Passu Securities shall have been paid or set apart for payment for
all past dividend periods with respect to the Series A Preferred Stock and all
past dividend periods with respect to such Pari Passu Securities, and (ii)
sufficient funds shall have been paid or set apart for the payment of the
dividend for the current dividend period with respect to the Series A Preferred
Stock and the current dividend period with respect to such Pari Passu
Securities.

                               IV.     CONVERSION

     (a)     The outstanding shares of Series A Preferred Stock shall be
convertible into Company units (the "Units") as is determined by dividing the
Stated Value by the Conversion Price, as defined below, at the option of the
Holder in whole or in part, within 15 days of the Holder's receipt of a notice
of redemption from the Company or at any time during the three year period
commencing on the second anniversary of the Issuance Date (the "Holder
Conversion Period").  Each Unit consists of one share of Common Stock (the "Unit
Shares") and one common stock purchase warrant (the "Unit Warrants") which may
be exercised for the purchase of one additional share of Common Stock (the
"Warrant Shares") at an exercise price of $1.75 per share at any time during the
four year period commencing one year after the date of issuance of the Units.
Any conversion under this Section IV(a) shall be for a minimum Stated Value of
$25,000 of Series A Preferred Stock.  The Holder shall effect conversions by
sending the form of conversion notice attached hereto as Appendix I (the "Notice
                                                         ----------
of Conversion") in the manner set forth in Section IV(i).  Each Notice of
Conversion shall specify the Stated Value of Series A Preferred Stock to be
converted, and the date on which such conversion is to be effected (the
"Conversion Date").  Except as provided herein, each Notice of Conversion, once
given, shall be irrevocable.  If the Holder is converting less than all of the
Stated Value represented by a certificate for the Series A Preferred Stock
tendered by the Holder in the Notice of Conversion, the Company shall deliver to
the Holder a new Series A Preferred Stock certificate for such Stated Value as
has not been converted within seven (7) Business Days of the Company's receipt
of the original Series A Preferred Stock and Notice of Conversion.

     (b)     Not later than seven (7) Business Days after the Company's receipt
of the certificate or certificates for the Series A Preferred Stock and the
original of the Notice of Conversion, the Company will deliver to the Holder (i)
a certificate or certificates representing the number of Unit Shares and Unit
Warrants being acquired upon the conversion of Series A Preferred Stock and
(ii), if applicable, Series A Preferred Stock in principal amount equal to the
principal amount of Series A Preferred Stock not converted.  In the case of a
conversion pursuant to a Notice of Conversion, if such certificate or

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certificates are not delivered by the date required under this Section IV(c),
the Holder shall be entitled by providing written notice to the Company at any
time on or before its receipt of such certificate or certificates thereafter, to
rescind such conversion, in which event the Company shall immediately return the
Series A Preferred Stock tendered for conversion.

     (c)     (i)     The Conversion Price for the conversion of a share of
Series A Preferred Stock into Units shall be $1.50 of Stated Value (the
"Conversion Price").

             (ii)    If the Company, at any time while any shares of Series A
Preferred Stock are outstanding, (a) shall pay a stock dividend or otherwise
make a distribution or distributions on shares of its Junior Securities payable
in shares of its capital stock (whether payable in shares of its Common Stock or
of capital stock of any class), (b) subdivide outstanding shares of Common Stock
into a larger number of shares, (c) combine outstanding shares of Common Stock
into a smaller number of shares, or (d) issue by reclassification of shares of
Common Stock any shares of capital stock of the Company, the Conversion Price
designated in Section IV(c)(i) shall be multiplied by a fraction of which the
numerator shall be the number of shares of Common Stock of the Company
outstanding before such event and of which the denominator shall be the number
of shares of Common Stock outstanding after such event. Any adjustment made
pursuant to this Section IV(c)(ii) shall become effective immediately after the
record date for the determination of stockholders entitled to receive such
dividend or distribution and shall become effective immediately after the
effective date in the case of a subdivision, combination or reclassification.

          (iii)      If the Company, at any time while any shares of Series A
Preferred Stock are outstanding, shall issue or sell shares of Common Stock, or
options, warrants or other rights to subscribe for or purchase shares of Common
Stock, (excluding shares of Common Stock issuable upon exercise of options,
warrants or conversion rights granted prior to the date hereof and shares of
Common Stock issuable upon exercise of options which may be issued subsequent to
the date hereof to Company employees, officers, or directors) at a price per
share less than the Conversion Price then in effect, the Conversion Price
designated in Section IV(c)(i) shall be reduced to the price at which the shares
of Common Stock are issued or the price at which the options, warrants or other
rights may be exercised for the purchase of Common Stock.  Such adjustment shall
be made as of the date such Common Stock, options, rights or warrants are
issued.

          (iv)       If the Company, at any time while shares of Series A
Preferred Stock are outstanding, shall distribute to all holders of Common Stock
(and not to Holders of Series A Preferred Stock) evidences of its indebtedness
or assets or rights or warrants to subscribe for or purchase any security
(excluding those referred to in Section IV(c)(iii) above) then in each such case
the Conversion Price at which each Series A Preferred Stock shall thereafter be
convertible shall be determined by multiplying the Conversion Price in effect
immediately prior to the record date fixed for determination of stockholders
entitled to receive such distribution by a fraction of which the denominator
shall be the Per Share Market Value of Common Stock determined as of the record
date mentioned above, and of which the numerator shall be such Per Share Market
Value of the Common Stock on such record date less the then fair market value at
such record date of the portion of such assets or evidence of indebtedness so

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distributed applicable to one outstanding share of Common Stock as determined by
the Board of Directors in good faith; provided, however that in the event of a
                                      --------  -------
distribution exceeding ten percent (10%) of the net assets of the Company, such
fair market value shall be determined by a nationally recognized or major
regional investment banking firm or firm of independent certified public
accountants of recognized standing (which may be the firm that regularly
examines the financial statements of the Company) (an "Appraiser") selected in
good faith by the Holders of a majority of the principal amount of the Series A
Preferred Stock then outstanding; and provided, further, that the Company, after
                                      --------  -------
receipt of the determination by such Appraiser shall have the right to select an
additional Appraiser, in which case the fair market value shall be equal to the
average of the determinations by each such Appraiser.  In either case the
adjustments shall be described in a statement provided to the Holder and all
other Holders of Series A Preferred Stock of the portion of assets or evidences
of indebtedness so distributed or such subscription rights applicable to one
share of Common Stock.  Such adjustment shall be made whenever any such
distribution is made and shall become effective immediately after the record
date mentioned above.

          (v)       All calculations under this Article IV shall be made to the
nearest 1/1000th of a cent or the nearest 1/1000th of a share, as the case may
be.  Any calculation over .005 shall be rounded up to the next cent or share and
any calculation less than .005 shall be rounded down to the previous cent or
share.

          (vi)      Whenever  the  Conversion  Price  is  adjusted pursuant to
section IV(c)(ii),(iii) or (iv), the Company shall within two (2) days after the
determination of the new Conversion Price mail and fax to the Holder and to each
other Holder of Series A Preferred Stock, a notice setting forth the Conversion
Price after such adjustment and setting forth a brief statement of the facts
requiring such adjustment.

          (vii)     In case of any reclassification of the Common Stock, any
consolidation or merger of the Company with or into another person, the sale or
transfer of all or substantially all of the assets of the Company or any
compulsory share exchange pursuant to which the Common Stock is converted into
other securities, cash or property, then each holder of Series A Preferred Stock
then outstanding shall have the right thereafter to convert such Series A
Preferred Stock only into the shares of stock and other securities and property
receivable upon or deemed to be held by holders of Common Stock following such
reclassification, consolidation, merger, sale, transfer or share exchange
(except in the event the property is cash, then the Holder shall have the right
to convert the Series A Preferred Stock and receive cash in the same manner as
other stockholders), and the Holder shall be entitled upon such event to receive
such amount of securities or property as the shares of the Common Stock into
which such Series A Preferred Stock could have been converted immediately prior
to such reclassification, consolidation, merger, sale, transfer or share
exchange would have been entitled.  The terms of any such consolidation, merger,
sale, transfer or share exchange shall include such terms so as to continue to
give to the holder the right to receive the securities or property set forth in
this Section IV(c)(vii) upon any conversion following such consolidation,
merger, sale, transfer or share exchange.  This provision shall similarly apply
to successive reclassifications, consolidations, mergers, sales, transfers or
share exchanges.

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          (viii)     If:
                  (A)   the Company shall declare a dividend (or any other
                        distribution) on its Common Stock; or

                  (B)   the Company shall declare a special nonrecurring cash
                        dividend on or a redemption of its Common Stock; or

                  (C)   the Company shall authorize the granting to all holders
                        of the Common Stock rights or warrants to subscribe for
                        or purchase any shares of capital stock of any class or
                        of any rights; or

                  (D)   the approval of any stockholders of the Company shall be
                        required in connection with any reclassification of the
                        Common Stock of the Company (other than a subdivision or
                        combination of the outstanding shares of Common Stock),
                        any consolidation or merger to which the Company is a
                        party, any sale or transfer of all or substantially all
                        of the assets of the Company, or any compulsory share
                        exchange whereby the Common Stock is converted into
                        other securities, cash or property; or

                  (E)   the Company shall authorize the voluntary or involuntary
                        dissolution, liquidation or winding-up of the affairs of
                        the Company;

then the Company shall cause to be mailed and faxed to the Holders of Series A
Preferred Stock at their last addresses as it shall appear upon the Series A
Preferred Stock Register, at least thirty (30) calendar days prior to the
applicable record or effective date hereinafter specified, a notice stating (x)
the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken,
the date as of which the holders of Common Stock of record to be entitled to
such dividend, distributions, redemption, rights or warrants are to be
determined, or (y) the date on which such reclassification, consolidation,
merger, sale, transfer, share exchange, dissolution, liquidation or winding-up
is expected to become effective, and the date as of which it is expected that
holders of Common Stock of record shall be entitled to exchange their shares of
Common Stock for securities or other property deliverable upon such
reclassification, consolidation, merger, sale, transfer, share exchange,
dissolution, liquidation or winding-up; provided, however, that the failure to
mail such notice or any defect therein or in the mailing thereof shall not
affect the validity of the corporate action required to be specified in such
notice.

     (d)     The Company covenants that it will at all times reserve and keep
available out of its authorized and unissued Common Stock solely for the purpose
of issuance upon conversion of Series A Preferred Stock as herein provided, free
from preemptive rights or any other actual contingent purchase rights of persons
other than the Holders of Series A Preferred Stock, such number of shares of
Common Stock as shall be issuable (taking into account the adjustments and
restrictions of Section IV(c) hereof) upon the conversion of the aggregate

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principal amount of all outstanding Series A Preferred Stock.  The Company
covenants that all shares of Common Stock that shall be so issuable shall, upon
issuance, be duly and validly authorized, issued and fully paid and
nonassessable.

     (e)     No fractional Units shall be issuable upon a conversion hereunder
and the number of Unit Shares and Unit Warrants to be issued shall be rounded up
to the nearest whole number.  Accordingly, if a fractional Unit interest arises
upon any conversion hereunder, the Company shall eliminate such fractional Unit
interest by issuing Holder an additional full Unit.

     (f)     The issuance of certificates for Unit Shares and Unit Warrants on
conversion of Series A Preferred Stock shall be made without charge to the
Holder for any documentary stamp or similar taxes that may be payable in respect
of the issue or delivery of such certificates, provided that the Company shall
not be required to pay any tax that may be payable in respect of any transfer
involved in the issuance and delivery of any such certificate upon conversion in
a name other than that of the Holder and the Company shall not be required to
issue or deliver such certificates unless or until the person or persons
requesting the issuance thereof shall have paid to the Company the amount of
such tax or shall have established to the satisfaction of the Company that such
tax has been paid.

     (g)     Series A Preferred Stock converted into Units shall be canceled
upon conversion.

     (h)     Each Notice of Conversion shall be given by facsimile to the
Company no later than 4:00 pm New York Time.  In the event that the Company
receives the Notice of Conversion after 4:00 p.m. New York Time, the Conversion
Date shall be deemed to be the next business day.  In the event that the Company
receives the Notice of Conversion  after the end of the business day, notice
will be deemed to have been given the next business day.

                      V.     EVENTS OF DEFAULT AND REMEDIES

     (a)     "Event of Default", wherever used herein, means any one of the
following events:

          (i)     the Company shall fail to observe or perform any material
covenant, agreement or warranty contained in this Series A Preferred Stock
Certificate of Designation, and such failure shall not have been remedied within
ten (10) Business Days after the date on which written notice of such failure
shall have been given;

          (ii)     the occurrence of any event or breach or default by the
Company under the Purchase Agreement and such failure or breach shall not have
been remedied within ten (10) Business Days after the date on which written
notice of such failure shall have been given;

          (iii)     the Company or any of its subsidiaries shall commence a
voluntary case under the United States Bankruptcy Code as now or hereafter in
effect or any successor thereto (the "Bankruptcy Code"); or an involuntary case
is commenced against the Company under the Bankruptcy Code and the Company fails
to pursue dismissal of the case within sixty (60) days after commencement of the
case; or the Company commences any other proceeding under any reorganization,
arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or

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liquidation or similar law of any jurisdiction whether now or hereafter in
effect relating to the Company or there is commenced against the Company any
such proceeding and the Company fails to pursue dismissal of the case within
sixty (60) days after commencement of the case; or the Company suffers any
appointment of any custodian or the like for it or any substantial part of its
property and the Company fails to pursue dismissal of the custodian within sixty
(60) days after the appointment; or the Company makes a general assignment for
the benefit of creditors; or any corporate or other action is taken by the
Company for the purpose of effecting any of the foregoing;

          (iv)     the Company shall voluntarily have its Common Stock deleted
or delisted, as the case may be, from the OTCBB or other national securities
exchange or market on which such Common Stock is listed for trading or suspended
from trading thereon, and shall not have its Common Stock relisted or have such
suspension lifted, as the case may be, within twenty (20) Trading Days of such
deletion or delisting;

          (v)     the Company shall issue a press release, or otherwise make
publicly known, that it is not honoring properly executed Notice of Conversions
for any reason whatsoever;

     (b)     If any Event of Default occurs and continues, beyond any cure
period, if any,  then so long as such Event of Default shall then be continuing
any Holder may, by notice to the Company demand redemption of the Shares of
Series A Preferred Stock at the price of 105% of the Stated Value of each Share
of Series A Preferred Stock being redeemed plus accrued but unpaid dividends
thereon, whereupon the Stated Value and all accrued but unpaid Dividends shall
be immediately due and payable, and such Holder may immediately and without
expiration of any grace period enforce any and all of its rights and remedies
hereunder and all other remedies available to it under applicable law.  Such
declaration may be rescinded and annulled by such Holder at any time prior to
payment hereunder.  No such rescission or annulment shall affect any subsequent
Event of Default or impair any right consequent thereon.  This shall include,
but not be limited to the right to temporary, preliminary and permanent
injunctive relief without the requirement of posting any bond or undertaking.

     (c)     Such Holder may thereupon proceed to protect and enforce its rights
either by suit in equity, or by action at law, or by other appropriate
proceedings whether for the specific performance (to the extent permitted by
law) of any covenant or agreement contained in this Series A Preferred Stock
Certificate of Designation or in aid of the exercise of any power granted in
this Series A Preferred Stock Certificate of Designation, and proceed to enforce
the redemption of any of the Series A Preferred Stock held by it, and to enforce
any other legal or equitable right of such Holder.

     (d)     As a non-exclusive remedy, in the Event of a Default, the Holder
can convert the outstanding shares of Series A Preferred Stock at the Conversion
Price upon giving a Notice of Conversion to the Company.

                               VI.     REDEMPTION

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     (a)     The shares of Series A Preferred Stock are redeemable at the sole
option of the Company at any time prior to the Company's receipt of a Notice of
Conversion (as provided in Article IV hereof) to the extent funds are legally
available therefor, at any time and from time to time, in whole or in part, at a
redemption price equal to 105% of the Stated Value of each share of Series A
Preferred Stock being redeemed  plus accrued and unpaid dividends thereon
("Redemption Price").  The Holder may provide the Company with a Notice of
Conversion within 15 days after Holder's receipt of a notice of redemption from
the Company.  The Company is not obligated to provide for redemption of the
Series A Preferred Stock through a sinking fund.  The Company must redeem the
shares of Series A Preferred Stock at the Redemption Price on the fifth
anniversary of the Issuance Date.

     (b)     The Company shall not optionally redeem the Series A Preferred
Stock or any other Pari Passu Securities in whole or in part without redeeming,
on a pro rata basis, all outstanding Pari Passu Securities in accordance with
the relative amounts due the holders of Pari Passu Securities on redemption.

     (c)     Shares of Series A Preferred Stock which have been redeemed or
converted shall be deemed retired pursuant to Section 243 of the DGCL and shall
thereafter resume the status of authorized and unissued shares of Preferred
Stock, undesignated as to series, and may be redesignated and reissued as part
of any new series of Preferred Stock other than Series A Preferred Stock.

     (d)     Notwithstanding the foregoing provisions of this Article VI, unless
the full cumulative dividends on all outstanding shares of Series A Preferred
Stock shall have been paid or contemporaneously are declared and paid for all
past dividend periods, none of the shares of Series A Preferred Stock may be
redeemed.

     (e)     No redemption shall be made and no sum set aside for such
redemption unless at the time thereof (i) all accrued and unpaid dividends
payable on any Senior Securities (as defined in Section VII herein) have been
paid in full, (ii) all required mandatory redemptions on Senior Securities have
been made in full and (iii) all optional redemptions of Senior Securities, if
any, previously declared, have been made in full.  No redemption shall be made
and no sum set aside for such redemption at any time that the terms or
provisions of any indenture or agreement of the Company, including any agreement
relating to indebtedness, specifically prohibits such redemption or setting
aside or provides that such redemption or setting aside would constitute a
breach or default thereunder (after notice or lapse of time or both), except
with the written consent of the lender or other parties to said agreement as the
case may be.

     (f)     If any redemption shall at any time be prohibited by the DGCL, the
same shall be deferred until such time as the redemption can occur in full
compliance with such statute.
     (g)     In the event the Company shall redeem shares of Series A Preferred
Stock, notice of such redemption shall be given by first class mail, postage
prepaid, or by confirmed facsimile transmission, not less than twenty-one (21)
days prior to the date fixed by the Board for redemption to each holder of
Series A Preferred Stock at the address that appears on the Company's stock
record books; provided, however, that no failure to provide such notice nor any
defect therein shall affect the validity of the redemption proceeding except as
to the Holder to whom the Company has failed to send such notice or whose notice

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was defective.  Each notice shall state (i) the redemption date, (ii) the number
of shares of Series A Preferred Stock to be redeemed; (iii) the Redemption
Price; (iv) the place or places where certificates for shares of Series A
Preferred Stock are to be surrendered for payment and (v) that dividends on the
redeemed shares shall cease to accrue on such redemption date.  When notice has
been provided as aforesaid then from and after the redemption date (unless
default shall be made by the Company in providing money for the payment of the
Redemption Price of the shares called for redemption) dividends on the shares
called for redemption shall cease to accrue and said shares shall no longer be
deemed to be outstanding and all rights of the holders thereof shall cease
(other than the right to receive the Redemption Price).  Upon surrender of the
certificates for Series A Preferred Stock accompanied by appropriate stock
powers, the shares shall be redeemed by the Company at the Redemption Price.  In
case fewer than all shares represented by any such certificate are redeemed, a
new certificate representing the shares of Series A Preferred Stock not so
redeemed shall be issued to the holder without cost.

                                  VII.     RANK

     The Series A Preferred Stock shall, as to dividends, redemptions, and the
distribution of assets upon liquidation, dissolution or winding up of the
Company, rank (i) prior to the Company's Common Stock; (ii) prior to any class
or series of capital stock of the Company hereafter created that, by its terms,
ranks junior to the Series A Preferred Stock ("Junior Securities"); (iii) junior
to any class or series of capital stock of the Company hereafter created (with
the consent of the holders of a majority of the outstanding Series A Preferred
Stock) which by its terms ranks senior to the Series A Preferred Stock ("Senior
Securities"); and (iv) pari passu with any other series of preferred stock of
the Company hereafter created (with the consent of the Holders of a majority of
the outstanding Series A Preferred Stock) which by its terms ranks on a parity
("Pari Passu Securities") with the Series A Preferred Stock.

                        VIII.     LIQUIDATION PREFERENCE

     If the Company shall commence a voluntary case under the U.S. Federal
bankruptcy laws or any other applicable bankruptcy, insolvency or similar law,
or consent to the entry of an order for relief in an involuntary case under any
law or to the appointment of a receiver, liquidator, assignee, custodian,
trustee, sequestrator (or other similar official) of the Company or of any
substantial part of its property, or make an assignment for the benefit of its
creditors, or admit in writing its inability to pay its debts generally as they
become due, or if a decree or order for relief in respect of the Company shall
be entered by a court having jurisdiction in the premises in an involuntary case
under the U.S. Federal bankruptcy laws or any other applicable bankruptcy,
insolvency or similar law resulting in the appointment of a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or other similar
official) of the Company or of any substantial part of its property, or ordering
the winding up or liquidation of its affairs, and any such decree or order shall
be unstayed and in effect for a period of 60 consecutive days and, on account of
any such event, the Company shall liquidate, dissolve or wind up, or if the
Company shall otherwise liquidate, dissolve or wind up, including, but not
limited to, the sale or transfer of all or substantially all of the Company's
assets in one transaction or in a series of related transactions (a "Liquidation
Event"), no distribution shall be made to the holders of any shares of capital
stock of the Company (other than Senior Securities and Pari Passu Securities)

                                      -59-
<PAGE>
upon liquidation, dissolution or winding up unless, prior thereto, the Holders
of shares of Series A Preferred Stock shall have received the Liquidation
Preference (as defined below) with respect to each share. If, upon the
occurrence of a Liquidation Event, the assets and funds available for
distribution among the Holders of the Series A Preferred Stock and Holders of
Pari Passu Securities shall be insufficient to permit the payment to such
holders of the preferential amounts payable thereon, then the entire assets and
funds of the Company legally available for distribution to the Series A
Preferred Stock and the Pari Passu Securities shall be distributed ratably among
such shares in proportion to the ratio that the Liquidation Preference payable
on each such share bears to the aggregate Liquidation Preference payable on all
such shares.  The purchase or redemption by the Company of stock of any class,
in any manner permitted by law, shall not, for the purposes hereof, be regarded
as a liquidation, dissolution or winding up of the Company. Neither the
consolidation or merger of the Company with or into any other entity nor the
sale or transfer by the Company of less than substantially all of its assets
shall, for the purposes hereof, be deemed to be a liquidation, dissolution or
winding up of the Company.  The "Liquidation Preference" with respect to a share
of Series A Preferred Stock means an amount equal to the Stated Value thereof,
plus the accrued but unpaid dividends thereon through the date of final
distribution. The Liquidation Preference with respect to any Pari Passu
Securities shall be as set forth in the Certificate of Designation filed in
respect thereof.

                              IX.     VOTING RIGHTS

     The Holders of the Series A Preferred Stock have no voting power
whatsoever, except as otherwise provided by the DGCL.  To the extent that under
the DGCL the vote of the Holders of the Series A Preferred Stock, voting
separately as a class or series, as applicable, is required to authorize a given
action of the Company, the affirmative vote or consent of the Holders of at
least a majority of the then outstanding shares of the Series A Preferred Stock
represented at a duly held meeting at which a quorum is present or by written
consent of the Holders of at least a majority of the then outstanding shares of
Series A Preferred Stock (except as otherwise may be required under the DGCL)
shall constitute the approval of such action by the class. To the extent that
under the DGCL Holders of the Series A Preferred Stock are entitled to vote on a
matter with holders of Common Stock, voting together as one class, each share of
Series A Preferred Stock shall be entitled to a number of votes equal to the
number of shares of Common Stock into which it is then convertible (subject to
the limitations contained in Article IV) using the record date for the taking of
such vote of shareholders as the date as of which the Conversion Price is
calculated.

                              X.     MISCELLANEOUS

     (a)     If any shares of Series A Preferred Stock are converted pursuant to
Article IV, the shares so converted shall be canceled, shall return to the
status of authorized, but unissued preferred stock of no designated series, and
shall not be issuable by the Company as Series A Preferred Stock.

     (b)     Upon receipt by the Company of (i) evidence of the loss, theft,
destruction or mutilation of any Preferred Stock certificate(s) and (ii) (y) in
the case of loss, theft or destruction, of indemnity (without any bond or other
security) reasonably satisfactory to the Company, or (z) in the case of
mutilation, upon surrender and cancellation of the Preferred Stock

                                      -60-
<PAGE>
certificate(s), the Company shall execute and deliver new Preferred Stock
certificate(s) of like tenor and date. However, the Company shall not be
obligated to reissue such lost or stolen Preferred Stock certificate(s) if the
Holder contemporaneously requests the Company to convert such Series A Preferred
Stock.

     (c)     Upon submission of a Notice of Conversion by a Holder of Series A
Preferred Stock, (i) the shares covered thereby shall be deemed converted into
Units and (ii) the Holder's rights as a Holder of such converted shares of
Series A Preferred Stock shall cease and terminate, excepting only the right to
receive certificates for the Unit Shares and the Unit Warrants and to any
remedies provided herein or otherwise available at law or in equity to such
Holder because of a failure by the Company to comply with the terms of this
Certificate of Designation. Notwithstanding the foregoing, if a Holder has not
received certificates for all the Unit Shares and the Unit Warrants prior to the
tenth business day after the expiration of the delivery period with respect to a
conversion of Series A Preferred Stock for any reason, then (unless the Holder
otherwise elects to retain its status as a holder of the Unit Shares and the
Unit Warrants by so notifying the Company within five business days after the
expiration of such 10 business day period) the Holder shall regain the rights of
a Holder of Series A Preferred Stock with respect to such unconverted shares of
Series A Preferred Stock and the Company shall, as soon as practicable, return
such unconverted shares to the Holder. In all cases, the Holder shall retain all
of its rights and remedies for the Company's failure to convert Series A
Preferred Stock.

     (d)     The remedies provided in this Certificate of Designation shall be
cumulative and in addition to all other remedies available under this
Certificate of Designation, at law or in equity (including a decree of specific
performance and/or other injunctive relief), and nothing herein shall limit a
Holder's right to pursue actual damages for any failure by the Company to comply
with the terms of this Certificate of Designation. The Company acknowledges that
a breach by it of its obligations hereunder will cause irreparable harm to the
Holders of Series A Preferred Stock and that the remedy at law for any such
breach may be inadequate. The Company therefore agrees, in the event of any such
breach or threatened breach, that the Holders of Series A Preferred Stock shall
be entitled, in addition to all other available remedies, to an injunction
restraining any breach, without the necessity of showing economic loss and
without any bond or other security being required.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -61-
<PAGE>
IN WITNESS WHEREOF, this Certificate of Designation is executed on behalf of the
Company this 7th day of June, 2002.

                                        ASSURE ENERGY, INC.

                                        By:  /s/ Douglas Kaplan
                                             ----------------------
                                             Name:  Douglas  Kaplan
                                             Title: President

                                      -62-
<PAGE>EXHIBIT 10.4

     THIS PREFERRED STOCK PURCHASE AGREEMENT (this "Agreement"), is made and
entered into as of the 1st day of June, 2002, between Assure Energy, Inc., a
corporation organized and existing under the laws of the State of Delaware (the
"Company"), and the purchasers listed on SCHEDULE 1 hereto (the "Purchasers").

     WHEREAS, subject to the terms and conditions set forth in this Agreement,
the Company desires to issue and sell to the Purchasers and the Purchasers
desires to acquire from the Company, shares of the Company's Series A
Convertible Preferred Stock, par value $.0001 per share (the "Series A Preferred
Stock"), with an aggregate stated value of One Million Seven Hundred Fifty
Thousand Dollars ($1,750,000).

     IN CONSIDERATION of the mutual covenants contained in this Agreement, the
Company and each Purchaser agree as follows:

                                    ARTICLE 1

                               CERTAIN DEFINITIONS
                               -------------------

     1.1          Certain Definitions.  As used in this Agreement, and unless
                  -------------------
the context requires a different meaning, the following terms have the meanings
indicated:

     "Agreement"  shall have the meaning set forth in the introductory paragraph
      ---------
of  this  Agreement.

     "Business  Day"  means  any  day  except Saturday, Sunday and any day which
      -------------
shall  be a legal holiday or a day on which banking institutions in the State of
New York are authorized or required by law or other government actions to close.

     "Certificate  of  Designation"  means the Certificate of Designation of the
      ----------------------------
Series  A  Convertible Preferred Stock, in the form of EXHIBIT A annexed hereto.

     "Commission"  means  the  Securities  and  Exchange  Commission.
      ----------

     "Common Stock" means shares of the Company's common stock,  par value $.001
      ------------
per share.

     "Company"  shall  have the meaning set forth in the introductory paragraph.
      -------

     "Conversion  Date"  shall  have the meaning set forth in the Certificate of
      ----------------
Designation.

     "Conversion  Price"  shall have the meaning set forth in the Certificate of
      -----------------
Designation.

     "Exchange  Act"  means  the  Securities  Exchange  Act of 1934, as amended.
      -------------

                                      -63-
<PAGE>
     "Losses"  shall  have  the  meaning  set  forth  in  Section 4.4(a) hereof.
      ------

     "Material" shall mean having a financial consequence in excess of $100,000.
      --------

     "Material  Adverse  Effect"  shall  have  the  meaning set forth in Section
      -------------------------
3.1(a).

     "NASD"  means  the  National  Association  of  Securities  Dealers,  Inc.
      ----

     "Notice  of  Conversion"  shall  have  the  meaning  set forth in EXHIBIT B
      ----------------------
annexed  hereto.

     "Notice  of Exercise" shall have the meaning set forth in EXHIBIT B annexed
      -------------------
hereto.

     "OTCBB"  shall  mean  the  NASD  over-the  counter  Bulletin  Board(R).
      -----

     "Person"  means  an  individual  or  a  corporation,  partnership,  trust,
      ------
incorporated  or  unincorporated  association,  joint venture, limited liability
company,  joint stock company, government (or an agency or political subdivision
thereof)  or  other  entity  of  any  kind.

     "Purchase  Price"  shall  have  the  meaning  set  forth in Section 2.1(b).
      ---------------

     "Purchasers"  shall  have  the  meaning  set  forth  in  the  introductory
      ----------
paragraph.

     "Securities  Act"  means  the  Securities  Act  of  1933,  as  amended.
      ---------------

     "Series A Preferred Stock" shall have the meaning set forth in the recital.
      ------------------------

     "Shares"  shall  have  the  meaning  set  forth  in  Section  2.1(a).
      ------

     "Subsidiaries"  shall  have  the  meaning  set  forth  in  Section  3.1(a).
      ------------

                                   ARTICLE II

                PURCHASE AND SALE OF CONVERTIBLE PREFERRED SHARES
                -------------------------------------------------

     2.1     Purchase and Sale; Terms of Convertible Preferred Shares.
             ---------------------------------------------------------

            (a)  Subject  to  the  terms  and  conditions  set forth herein, the
Company  shall  issue and sell and the Purchasers shall purchase an aggregate of
One  Million  Seven  Hundred  Fifty  Thousand  Dollars  ($1,750,000) of Series A
Preferred  Stock  (the  "Shares").  The Shares shall have the respective rights,
preferences  and privileges as set forth in the Certificate of Designation to be
filed  by  the  Company  with  the  Secretary  of  State  of Delaware as soon as
practicable  following  the  execution  of  this  Agreement, in the form annexed
hereto  as  Exhibit A. These rights, preferences, and privileges include (i) the
right  to  receive a 5% cumulative dividend, payable annually, in cash or common
stock  of the Company, at the Company's option; (ii) the right of the Company to
redeem  the Shares, at any time after the date of issuance, upon twenty one (21)
days  prior  written  notice of redemption to the holder, at a price of $105 per

                                      -64-
<PAGE>
Share  plus  all accrued but unpaid dividends; (iii) automatic redemption by the
Company  on the fifth anniversary of the date of issuance at a price of $105 per
Share  plus  all  accrued  but unpaid dividends; (iv) the right of the holder to
convert  Share principal into units of the Company, at the conversion price then
in  effect,  at  any  time within 15 days of the holder's receipt of a notice of
redemption  from the Company or at any time commencing on the second anniversary
of  the  date  of  issuance,  each unit consisting of one share of the Company's
common  stock  (the  "Unit  Shares")  and  one  common  stock  purchase  warrant
exercisable  to  purchase  one share of the Company's common stock (the "Warrant
Shares")  at  a  price  of  $1.75 per share at any time during the four (4) year
period  commencing  one year from the date of issuance of the units. The initial
conversion  price  is  $1.50  of  Share  principal  for  each  unit.

     The  purchase  price  for  each  Share  shall  be  $100  (the  "Per  Share
Consideration").  The Per Share Consideration multiplied by the number of Shares
to  be  purchased by the Purchasers as set forth in SCHEDULE 1 is referred to as
the  "Purchase  Price".

                                   ARTICLE III

                          REPRESENTATIONS AND WARRANTS

     3.1     Representations, Warranties and Agreements of the Company.  The
             ---------------------------------------------------------
Company hereby makes the following representations and warranties to the
Purchasers, all of which shall survive the Closing:

          (a)     Organization and Qualification.  The Company is a corporation,
                  ------------------------------
duly  incorporated,  validly existing and in good standing under the laws of the
State  of  Delaware, with the requisite corporate power and authority to own and
use  its  properties  and  assets  and  to  carry  on  its business as currently
conducted.  The  Company  has no subsidiaries other than Assure Oil & Gas Corp.,
and  Inventoy.com  International, Inc. (collectively, the "Subsidiaries").  Each
of the Subsidiaries is a corporation, duly incorporated, validly existing and in
good  standing under the laws of the jurisdiction of its incorporation, with the
full  corporate power and authority to own and use its properties and assets and
to  carry  on  its business as currently conducted.  Each of the Company and the
Subsidiaries  is  duly  qualified  to  do  business and is in good standing as a
foreign  corporation  in  each  jurisdiction in which the nature of the business
conducted  or  property  owned  by it makes such qualification necessary, except
where  the  failure  to be so qualified or in good standing, as the case may be,
would  not,  individually or in the aggregate, have a material adverse effect on
the  results  of  operations,  assets,  prospects, or financial condition of the
Company  and  the  Subsidiaries, taken as a whole (a "Material Adverse Effect").

          (b)     Authorization,  Enforcement.  The  Company  has  the requisite
                  ---------------------------
corporate  power  and authority to enter into and to consummate the transactions
contemplated  hereby  and to otherwise carry out its obligations hereunder.  The
execution  and delivery of this Agreement by the Company and the consummation by
it  of  the  transactions  contemplated  hereby  has been duly authorized by all
necessary  action  on the part of the Company.  This Agreement when delivered in
accordance  with  the  terms  hereof  will  constitute  the  valid  and  binding
obligation of the Company enforceable against the Company in accordance with its
terms,  except  as  such enforceability may be limited by applicable bankruptcy,

                                      -65-
<PAGE>
insolvency, reorganization, moratorium, liquidation or similar laws relating to,
or  affecting generally the enforcement of, creditors' rights and remedies or by
other  equitable  principles  of  general  application.

          (c)     Capitalization. The authorized, issued and outstanding capital
                  --------------
stock of the Company is set forth on SCHEDULE 3.1(C).  No shares of the Series A
Preferred  Stock  have  been  issued as of the date hereof.  No shares of Common
Stock  are  entitled  to  preemptive or similar rights, nor is any holder of the
Common  Stock  entitled  to  preemptive  or  similar  rights  arising out of any
agreement or understanding with the Company by virtue of this Agreement.  Except
as disclosed in SCHEDULE 3.1(C), there are no authorized or outstanding options,
warrants,  script,  rights  to  subscribe  to,  registration  rights,  calls  or
commitments  of  any character whatsoever relating to, or, except as a result of
the  purchase  and  sale  of the Series A Preferred Stock hereunder, securities,
rights or obligations convertible into or exchangeable for, or giving any person
any right to subscribe for or acquire, any shares of Common Stock, or contracts,
commitments,  understandings,  or  arrangements  by  which  the  Company  or any
Subsidiary is or may become bound to issue additional shares of Common Stock, or
securities  or  rights  convertible or exchangeable into shares of Common Stock.
Neither  the Company nor any Subsidiary is in violation of any of the provisions
of  its  respective  Certificate  of  Incorporation,  bylaws  or  other  charter
documents.

          (d)     Issuance  of  Shares.  The  Shares  have been duly and validly
                  --------------------
authorized  for  issuance,  offer  and sale pursuant to this Agreement and, when
issued  and  delivered  as provided hereunder against payment in accordance with
the  terms  hereof,  shall  be  valid  and  binding  obligations  of the Company
enforceable  in  accordance with their respective terms.  The Company has and at
all times while the Shares are outstanding will continue to maintain an adequate
reserve  of shares of Common Stock to enable it to perform its obligations under
this  Agreement  and  the Certificate of Designation.  When issued in accordance
with  the  terms  hereof,  the  underlying  securities  will be duly authorized,
validly  issued,  fully  paid  and  non-assessable.

          (e)     No Conflicts.  The execution, delivery and performance of this
                  ------------
Agreement by the Company and the consummation by the Company of the transactions
contemplated  hereby  do  not  and  will  not  (i)  conflict with or violate any
provision of its Certificate of Incorporation or bylaws (each as amended through
the date hereof) or (ii) be subject to obtaining any of the consents referred to
in  Section  3.1(f),  conflict  with, or constitute a default (or an event which
with  notice  or lapse of time or both would become a default) under, or give to
others  any  rights  of termination, amendment, acceleration or cancellation of,
any agreement, indenture or instrument to which the Company is a party, or (iii)
result in a violation of any law, rule, regulation, order, judgment, injunction,
decree  or other restriction of any court or governmental authority to which the
Company  or its Subsidiaries is subject (including, but not limited to, those of
other  countries  and the federal and state securities laws and regulations), or
by  which  any  property or asset of the Company or its Subsidiaries is bound or
affected,  except  in  the  case  of  clause  (ii),  such  conflicts,  defaults,
terminations,  amendments,  accelerations, cancellations and violations as would
not,  individually  or  in  the  aggregate, have a Material Adverse Effect.  The
business of the Company and its Subsidiaries is not being conducted in violation
of  any  law,  ordinance  or  regulation  of  any  governmental  authority.

          (f)     Consents  and  Approvals.  Neither  the  Company  nor  any
                  ------------------------

                                      -66-
<PAGE>
Subsidiary is required to obtain any consent, waiver, authorization or order of,
or  make  any  filing  or  registration with, any court or other federal, state,
local or other governmental authority in connection with the execution, delivery
and  performance  by the Company of this Agreement, except for the filing of the
Certificate of Designation with respect to the Series A Preferred Stock with the
Secretary  of  State  of  Delaware,  which  filing  shall be effected as soon as
practicable  following  the  execution  of  this  Agreement.

          (g)     No  Default  or  Violation.  Neither  the  Company  nor  any
                  --------------------------
Subsidiary  (i)  is  in  default under or in violation of any indenture, loan or
credit  agreement or any other agreement or instrument to which it is a party or
by which it or any of its properties is bound, except such conflicts or defaults
as  do  not have a Material Adverse Effect, (ii) is in violation of any order of
any court, arbitrator or governmental body, except for such violations as do not
have a Material Adverse Effect, or (iii) is in violation of any statute, rule or
regulation  of  any  governmental  authority which could (individually or in the
aggregate) (x) adversely affect the legality, validity or enforceability of this
Agreement,  (y)  have  a  Material  Adverse  Effect  or (z) adversely impair the
Company's  ability  or  obligation  to  perform  fully  on  a  timely  basis its
obligations  under  this  Agreement.

          (h)     Certain  Fees.  No  fees  or commission will be payable by the
                  -------------
Company  to  any investment banker, broker, placement agent or bank with respect
to  the  consummation  of  the  transactions  contemplated  hereby.

          (i)     Reporting  Company.  The  Company  is subject to the reporting
                  ------------------
requirements of Section 13 or Section 15(d) of the Exchange Act, and the Company
is  current  in  its  reporting  requirements.

The Purchasers acknowledge and agree that the Company makes no representation or
warranty  with  respect to the transactions contemplated hereby other than those
specifically  set  forth  in  Section  3.1  hereof.

     3.2     Representations and Warranties of the Purchasers.  Each Purchaser
             ------------------------------------------------
hereby separately represents and warrants to the Company as follows:

          (a)     Organization; Authority.  It the Purchaser is a corporation or
                  -----------------------
limited  partnership, it is duly incorporated or organized, validly existing and
in  good  standing  under  the  laws of the jurisdiction of its incorporation or
formation  with  the  requisite  corporate or partnership power and authority to
enter  into and to consummate the transactions contemplated hereby and otherwise
to  carry  out  its  obligations hereunder.  The acquisition of the Shares to be
purchased  by  the Purchaser hereunder has been duly authorized by all necessary
action  on the part of the Purchaser.  This Agreement has been duly executed and
delivered  by  the  Purchaser  and  constitutes  the  valid  and legally binding
obligation  of  the  Purchaser,  enforceable  against  it in accordance with its
terms,  except  as  such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws relating to, or affecting
generally  the enforcement of, creditors rights and remedies or by other general
principles  of  equity.

                                      -67-
<PAGE>
          (b)     Investment  Intent.  The Purchaser is acquiring the securities
                  ------------------
to be purchased by it hereunder for its own account for investment purposes only
and  not  with a view to or for distributing or reselling such securities or any
part  thereof  or  interest  therein,  without  prejudice,  however,  to  such
Purchaser's  right, subject to the provisions of this Agreement, at all times to
sell  or  otherwise  dispose of all or any part of such securities in compliance
with  applicable  federal  and  state  securities  laws.

          (c)     Purchaser  Status.  At  the time the Purchaser was offered the
                  -----------------
Shares  to  be acquired by it hereunder, it was and at the date hereof, it is an
"accredited  investor"  as  defined  in  Rule  501(a)  under the Securities Act.

          (d)     Experience  of  Purchaser.  The  Purchaser has such knowledge,
                  -------------------------
sophistication  and  experience  in  business  and financial matters so as to be
capable of evaluating the merits and risks of an investment in the securities to
be  acquired  by it hereunder, and has so evaluated the merits and risks of such
investment.

          (e)     Ability  of  Purchaser  to  Bear  Risk  of  Investment.  The
                  ------------------------------------------------------
Purchaser  is  able to bear the economic risk of an investment in the securities
to  be  acquired  by  it hereunder and, at the present time, is able to afford a
complete  loss  of  such  investment.

          (f)     Prohibited Transactions.  The securities to be acquired by the
                  -----------------------
Purchaser  hereunder  are  not  being acquired, directly or indirectly, with the
assets of any "employee benefit plan," within the meaning of Section 3(3) of the
Employment  Retirement  Income  Security  Act  of  1974,  as  amended.

          (g)     Access  to  Information.  The Purchaser has full access to the
                  -----------------------
Company's filings with the Commission and acknowledges that it has been afforded
(i)  the opportunity to ask such questions as it has deemed necessary of, and to
receive  answers  from,  representatives of the Company concerning the terms and
conditions of the Shares offered hereunder and the merits and risks of investing
in  such  Shares; (ii) access to information about the Company and the Company's
financial condition, results of operations, business, properties, management and
prospects sufficient to enable it to evaluate its investment in such Shares; and
(iii)  the  opportunity  to obtain such additional information which the Company
possesses  or  can  acquire  without  unreasonable  effort  or  expense  that is
necessary  to  make  an  informed  investment  decision  with  respect  to  the
investment.

          (h)     Reliance.  The Purchaser understands and acknowledges that (i)
                  --------
the  Shares  being  offered  and sold to it hereunder are being offered and sold
without  registration  under  the  Securities Act in a private placement that is
exempt from the registration provisions of the Securities Act under Section 4(2)
of  the  Securities  Act  and (ii) the availability of such exemption depends in
part  on,  and that the Company will rely upon the accuracy and truthfulness of,
the  foregoing  representations  and  such  Purchaser  hereby  consents  to such
reliance.

     The  Company  acknowledges  and  agrees  that  each  Purchaser  makes  no
representations  or  warranties  with  respect  to the transactions contemplated
hereby  other  than  those  specifically  set  forth  in  this  Section  3.2.

                                      -68-
<PAGE>
                                   ARTICLE IV

                         OTHER AGREEMENTS OF THE PARTIES
                         -------------------------------

     4.1     Manner of Offering.  The Shares are being issued pursuant to
             ------------------
Section 4(2) of the Securities Act.   The Shares, the Unit Shares and the
Warrant Shares will bear restrictions on transfer, and will carry a restrictive
legend with respect to the exemption from registration under the Securities Act.
The transfer and resale of the Shares, the Unit Shares and the Warrant Shares
may be made only pursuant to registration under the Securities Act or an
exemption from such registration.

     4.2     Listing of Common Stock.  The Company shall (a) use its best
             -----------------------
efforts to  maintain the listing of its Common Stock on the NASD OTCBB or such
other exchange on which the Common Stock is then listed until expiration of the
period during which the Shares may be converted.

     4.3     Conversion and Exercise Procedures.  EXHIBIT B attached hereto and
             ----------------------------------
made a part hereof sets forth the procedures with respect to the conversion of
the Shares, including the forms of Notice of Conversion and Notice of Exercise
to be provided upon conversion or exercise, instructions as to the procedures
for conversion or exercise, the form of legal opinion, if necessary, that shall
be rendered to the Company and such other information and instructions as may be
reasonably necessary to enable the Purchaser or its permitted transferee(s) to
exercise the right of conversion or exercise smoothly and expeditiously.

     4.4     Indemnification.
             ---------------

          (a)     The  Company  shall,  notwithstanding  termination  of  this
Agreement  and  without  limitation as to time, indemnify and hold harmless each
Purchaser  and  its  respective  officers,  directors,  agents,  employees  and
affiliates,  each  Person  who  controls  the  Purchaser  (within the meaning of
Section  15  of the Securities Act or Section 20 of the Exchange Act) (each such
Person,  a "Control Person") and the officers, directors, agents,  employees and
affiliates  of  each  such  Control  Person,  to the fullest extent permitted by
applicable  law,  from  and  against  any  and  all  losses,  claims,  damages,
liabilities,  costs  (including,  without  limitation,  costs of preparation and
attorneys' fees) and expenses (collectively, "Losses"), as incurred, arising out
of,  or  relating  to,  a  breach  or  breaches of any representation, warranty,
covenant  or  agreement  by  the  Company  under  this  Agreement.

          (b)     Each  Purchaser,  severally  and  not  jointly,  shall
notwithstanding termination of this Agreement and without limitation as to time,
indemnify  and  hold  harmless  the Company, its officers, directors, agents and
employees, each Control Person and the officers, directors, agents and employees
of  each Control Person, to the fullest extent permitted by applicable law, from
and  against  any and all Losses, as incurred, arising out of, or relating to, a
breach or breaches of any representation, warranty, covenant or agreement by the
Purchaser  under  this  Agreement.

                                      -69-
<PAGE>
     4.5     Merger or Consolidation.  Until all of the Shares have either been
             -----------------------
converted or redeemed, the Company and each Subsidiary will not, in a single
transaction or a series of related transactions, (i) consolidate with or merge
with or into any other Person, or (ii) permit any other Person to consolidate
with or merge into it, unless either (A) the Company shall be the survivor of
such merger or consolidation or (B) the surviving Person shall expressly assume
by supplemental agreement all of the obligations of the Company under the Shares
and this Agreement.

     4.6     Piggyback Registration Rights.  Piggyback registration rights shall
             -----------------------------
apply with regard to the Unit Shares and the Warrant Shares until such time that
the Unit Shares and Warrant Shares may be sold pursuant to Rule 144 under the
General Rules and Regulations under the Securities Act of 1933, as amended.
Such piggyback registration rights shall not be applicable however, to Company
registration statements relating solely to (i) employee benefit plans or (ii)
business combinations.

                                    ARTICLE V

                                  MISCELLANEOUS
                                  -------------

     5.1     Fees and Expenses.  Except as set forth in this Agreement, each
             -----------------
party shall pay the fees and expenses of its advisers, counsel, accountants and
other experts, if any, and all other expenses incurred by such party incident to
the negotiation, preparation, execution, delivery and performance of this
Agreement.  Each Purchaser shall be responsible for any taxes payable by the
Purchaser that may arise as a result of the investment hereunder or the
transactions contemplated by this Agreement.  Whether or not the transactions
contemplated hereby and thereby are consummated or this Agreement is terminated,
the Company shall pay (i) all costs, expenses, fees and all taxes incident to
and in connection with:  (A) the issuance and delivery of the Shares and, upon
conversion thereof, the Unit Shares and the Warrant Shares, (B) the grant of
piggyback registration rights, and (C) the preparation of certificates for the
Shares and, upon conversion thereof, the Unit Shares and Warrant Shares
(including, without limitation, printing and engraving thereof), (ii) all fees
and expenses of counsel and accountants of the Company and (iii) all expenses
and fees of listing on securities exchanges, if any.

     5.2     Entire Agreement; Amendments.  This Agreement, together with all of
             ----------------------------
the Exhibits and Schedules annexed hereto, contains the entire understanding of
the parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings, oral or written, with respect to such matters.
This Agreement shall be deemed to have been drafted and negotiated by both
parties hereto and no presumptions as to interpretation, construction or
enforceability shall be made by or against either party in such regard.

     5.3     Notices.  Any notice or other communication required or permitted
             -------
to be given hereunder shall be in writing and shall be deemed to have been duly
given upon facsimile transmission (with written transmission confirmation
report) at the  number designated below (if delivered on a Business Day during
normal business hours where such notice is to be received), or the first
Business Day following such delivery (if delivered other than on a Business Day
during normal business hours where such notice is to be received) whichever
shall first occur.  The addresses for such communications shall be:

                                      -70-
<PAGE>
          If  to  the  Company:     Assure  Energy,  Inc.
                                    c/o  Assure  Oil  &  Gas  Corp.
                                    The  Exchange  Tower
                                    Box  427,  130  King  Street  West
                                    Suite  1800
                                    Toronto,  Ontario,  Canada  M5X  1E3
                                    Attn:  Teresa  Chung-Wong
                                    Tel:   (416)  360-4681
                                    Fax:   (416)  360-3761

          With  copies  to:     Kaplan  Gottbetter  &  Levenson,  LLP
                                    630  Third  Avenue
                                    New  York,  NY  10017
                                    Attn:  Adam  S.  Gottbetter,  Esq.
                                    Tel:  (212)  983-6900
                                    Fax:  (212)  983-9210

          If  to  the  Purchaser:     See  SCHEDULE  1  attached  hereto

or such other address as may be designated hereafter by notice given pursuant to
the  terms  of  this  Section  5.3.
                      ------------

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

     5.5     Headings.  The headings herein are for convenience only, do not
             --------
constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof.

     5.6     Successors and Assigns.  This Agreement shall be binding upon and
             ----------------------
inure to the benefit of the parties and their respective successors and
permitted assigns.  The assignment by a party of this Agreement or any rights
hereunder shall not affect the obligations of such party under this Agreement.

     5.7     No Third Party Beneficiaries.  This Agreement is intended for the
             ----------------------------
benefit of the parties hereto and their respective permitted successors and
assigns and is not for the benefit of, nor may any provision hereof be enforced
by, any other person.

     5.8     Governing Law; Venue; Service of Process.  The parties hereto
             ----------------------------------------
acknowledge that the transactions contemplated by this Agreement and the

                                      -71-
<PAGE>
exhibits hereto bear a reasonable relation to the State of New York.  The
parties hereto agree that the internal laws of the State of New York shall
govern this Agreement and the exhibits hereto.  Any action to enforce the terms
of this Agreement or any of its exhibits shall be brought exclusively in the
state and/or federal courts situate in the  County and State of New York.
Service of process in any action by Purchaser to enforce the terms of this
Agreement may be made by serving a copy of the summons and complaint, in
addition to any other relevant documents, by commercial overnight courier to the
Company at its address set forth in this Agreement.

     5.9     Survival.  The representations and warranties of the Company and
             --------
the Purchaser contained in Article III and the agreements and covenants of the
parties contained in Article IV and this Article V shall survive the Closing (or
any earlier termination of this Agreement).

     5.10     Counterpart Signatures.  This Agreement may be executed in two or
              ----------------------
more counterparts, all of which when taken together shall be considered one and
the same agreement and shall become effective when counterparts have been signed
by each party and delivered to the other party, it being understood that both
parties need not sign the same counterpart.  In the event that any signature is
delivered by facsimile transmission, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is
executed) the same with the same force and effect as if such facsimile signature
page were an original thereof.

     5.11     Severability.  In case any one or more of the provisions of this
              ------------
Agreement shall be invalid or unenforceable in any respect, the validity and
enforceability of the remaining terms and provisions of this Agreement shall not
in any way be affected or impaired thereby and the parties will attempt to agree
upon a valid and enforceable provision which shall be a reasonable substitute
therefor, and upon so agreeing, shall incorporate such substitute provision in
this Agreement.

     5.12     Limitation of Remedies.  With respect to claims by the Company or
              ----------------------
any person acting by or through the Company for remedies at law or at equity
relating to or arising out of a breach of this Agreement, liability, if any,
shall, in no event, include loss of profits or incidental, indirect, exemplary,
punitive, special or consequential damages of any kind.

     5.13     Omnibus Provision.  Anything contained herein notwithstanding, in
              -----------------
the event that the Common Stock ceases to be listed for trading on the OTCBB,
then any reference thereto in this Agreement shall be deemed to be a reference
to (a) the principal national securities exchange on which the Common Stock is
then listed or admitted to trading, or (b) if the Common Stock is not then
listed or admitted to trading on any national securities exchange, Nasdaq, or
(c) if the Common Stock is not then listed or admitted to trading on Nasdaq,
then the over-the-counter market reported by the National Quotation Bureau
Incorporated (or similar organization or agency succeeding to its functions of
reporting prices).

                         [Signatures on following page]

                                      -72-
<PAGE>
     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first indicated above.

                                   Company:

                                   ASSURE ENERGY, INC.

                                   By:  /s/ Douglas Kaplan
                                        --------------------------
                                        Name: Douglas Kaplan
                                        Title: President

                                        Purchasers:

                                        PRIVATE INVESTMENT COMPANY, LTD

                                        By:  /s/ Martin Christen
                                             --------------------------
                                             Name: Martin Christen
                                             Title: President

                                        FIELDSTON TRADERS LIMITED

                                   By:  /s/ Erwin Sui
                                        --------------------------
                                        Name: Erwin Sui
                                        Title: Attorney-in-Fact

                                        BELESARIUS INDUSTRIES INC.

                                   By:  /s/ D.A. Kent
                                        --------------------------
                                        Name:  D. A. Kent
                                        Title:  President

                                      -73-
<PAGE>
                                   Schedule 1

                                   Purchasers
                                   ----------

<TABLE>
<CAPTION>
Name and Address of Purchaser        Purchase Price   No. of  Shares
-----------------------------------  ---------------  ---------------
<S>                                  <C>              <C>
Private Investment Company Ltd.      $     1,250,000          12,500
Gretton House
Duke Street
P.O. Box 65
Grand Turk
Turk & Caicos Islands, BWI
-----------------------------------  ---------------  ---------------
Fieldston Traders Limited            $       250,000           2,500
1311 Howe Street, Suite 305
Vancouver, British Columbia V6Z 1R7
Canada
-----------------------------------  ---------------  ---------------
Belesarius Industries Inc.           $       250,000           2,500
P.O. Box F-42678
Freeport, Bahamas
-----------------------------------  ---------------  ---------------
</TABLE>

                                      -74-
<PAGE>
                                 Schedule 3.1(c)

                                 Capitalization
                                 --------------

     The  authorized  capital  stock  of the Company consists of (i) 100,000,000
shares of Common Stock, of which 24,684,000 shares are issued and outstanding or
authorized  for  issuance; and (ii) 5,000,000 shares of preferred stock of which
no  shares  have been issued or authorized for issuance other than the Shares of
Series  A  Preferred  Stock.

     The  Company  has authorized the issuance of 2,400,000 A Warrants entitling
the  holders  thereof to acquire one share of the Company's common stock at $.50
per  share,  at  any  time  or  from  time  to  time during the four-year period
commencing  on  April  23,  2003 and expiring on April 22, 2007.  The A Warrants
have  registration  rights  as  set  forth  in  that certain Registration Rights
Agreement between the Company and the warrantholders dated as of April 23, 2002.

     The  Company  has authorized the issuance of 2,400,000 B Warrants entitling
the  holders thereof to acquire one share of the Company's common stock at $1.00
per  share,  at  any  time  or  from  time  to  time during the four-year period
commencing  on  April  23, 2003 and expiring on April 22, 2007.   The B Warrants
have  registration  rights  as  set  forth  in  that certain Registration Rights
Agreement between the Company and the warrantholders dated as of April 23, 2002.

     The  Company has authorized the issuance of 1,400,000 common stock purchase
warrants which entitle the holders to purchase one share of the Company's common
stock  at $1.50 per share for a period of four (4) years commencing May 8, 2003.

                                      -75-
<PAGE>

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