Document:

Filed by sedaredgar.com - EuroGas, Inc. - Exhibit 10.7

CONSULTING AGREEMENT 

THIS AGREEMENT is dated for reference August 1, 2008. 

BETWEEN: 

EUROGAS, INC., of

4087 Nike Drive 
Unit #4 
West Jordan, Utah 
84088; 

(the "Company") 

OF THE FIRST PART 

AND: 

GOETTE FINANCIAL CONSULTING LTD.
of 
7-1050 Millar Creek Road 
Whistler, British Columbia 
V0N
1B1 

(the "Contractor") 

OF THE SECOND PART 

WHEREAS the Company and the Contractor wish to enter
into a contract for services whereby the Contractor will provide services to the
Company. 

IN CONSIDERATION of the mutual agreements in this
Agreement and subject to the terms and conditions specified in this Agreement,
the parties agree as follows: 

1.                     
 ENGAGEMENT 

1.1                   
 Upon and subject to the terms and conditions hereinafter set out, the
Company hereby agrees to retain the services of the Contractor to provide
services to the Company (the "Services"), and the Contractor hereby agrees to
faithfully serve the Company and use its best efforts on the Company's behalf.

1.2                     The
Services shall include, but not be limited to: 

	 	(a) 	
      the provision of the following corporate development
      services to the Company:

	 	 	 	 
	 		(i) 	
      the refining of its corporate vision and business
      strategy;

	 	 	 	 
	 		(ii) 	
      the creation and fulfillment of its business
      objectives;

	 	 	 	 
	 		(iii) 	
      the creation, and subsequent periodic review, of a
      business plan;

	 	 	 	 
	 		(iv) 	
      the identifying, assessing and establishing of strategic
      partnerships;

	 	 	 	 
	 		(v) 	
      the designing of the Company's marketing and sales
      strategy;

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	 	(vi) 	
      the research of the competitive environment;

	 	 	 
	 	(vii) 	
      the setting of appropriate milestones for the
    Company;

	 	 	 
	 	(viii) 	
      the development and monitoring of the Company's
      management team, and if required, evaluating and recommending additions to
      the management team; and

	 	 	 
	 	(ix) 	
      the recruiting of potential
employees;

	 	(b) 	
      the provision of the following corporate finance services
      to the Company:

	 	 	 	 
	 		(i) 	
      the assessing and advising of management regarding the
      Company's capital requirements, and designing funding strategies, and
      identifying appropriate financing vehicles; and;

	 	 	 	 
	 		(ii) 	
      the deploying of its resources and network to obtain
      capital for the Company.

1.3                     The
Contractor shall carry out the policies and programs as established by the Board
of Directors of the Company (the "Board"). 

1.4                     In
carrying out its obligations hereunder, the Contractor will: 

	 	(a) 	
      act honestly, in good faith and in the best interests of
      the Company;

	 	 	 
	 	(b) 	
      exercise the care and diligence of a prudent person;
      and

	 	 	 
	 	(c) 	
      use its best efforts to well and faithfully serve the
      interests of the Company.

2.                     
 TERM OF ENGAGEMENT 

2.1                    
The initial term of this Agreement will commence on August 1, 2008 and will
continue until December 31, 2012 (the "Term"); and thereafter this Agreement
will be automatically renewed for successive 12 month periods (the "Subsequent
Terms"), unless earlier terminated in accordance with the provisions of this
Agreement.

3.                      
RELATIONSHIP 

3.1                    
The Contractor will at all times be an independent contractor and not the
employee, servant or agent of the Company. No partnership, joint venture or
agency will be created or will be deemed to be created by this Agreement or by
any action of the parties under this Agreement. The Contractor will not
represent itself to have any such relationship with the Company. The Contractor
will have no authority to and will not execute any contracts or purchase orders
or otherwise commit the Company to any contractual obligations. The Contractor
will be an independent contractor with control over the manner and means of its
performance. Neither the Contractor nor its employees or agents will be entitled
to rights or privileges applicable to employees of the Company including, but
not limited to, liability insurance, group insurance, pension plans, holiday
paid vacation and other benefit plans which may be available from time to time
between the Company and its employees.

3.2                     The
Contractor will be responsible for the management of its employees and, without
limiting the generality of the foregoing, will be responsible for payment to the
proper authorities of all unemployment insurance premiums and all other
employment expenses for all of the Contractor’s employees and for deduction and
remittance of all income tax due from itself and its employees. 

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3.3                    
If at any time any competent authority determines that the Contractor or any
employee of the Contractor is an employee of the Company, then the Company will
immediately commence to make all statutorily required withholding and
remittances in respect of payments to the Contractor. The Contractor will
indemnify and save harmless the Company and its directors, officers, employees
and agents (collectively the “Indemnified Persons”) and each of them from and
against all actions, proceedings, demands, claims, liabilities, losses, damages,
judgments, costs and expenses including, without limiting the generality of the
foregoing, legal fees and disbursements on a solicitor and his own client basis
(together with all applicable taxes) which the Indemnified Persons or any of
them or their personal representatives may be liable to pay or may incur by
reason of any claim by any competent authority that the Contractor or any
employee of the Contractor is an employee of the Company or whatsoever arising
as a result of the Company not making any statutorily required source deductions
on payments to the Contractor. The Company may at any time set off any amounts
owing to it by the Contractor under this Section hereof against any and all
amounts payable by the Company to the Contractor, including but not limited to
amounts payable under this Agreement. 

3.4                     The
Company will not be liable to the Contractor, its affiliates or its assigns for
any damages, liabilities, penalties, interest or costs caused to the Contractor
for failure to make the statutorily required source deductions or payments that
the Company would make in respect of payments or remuneration to employees. 

3.5                     The
Contractor will cause all of its employees who are assigned to perform the
Services to comply with all of the provisions of this Agreement. 

3.6                    
Nothing in this Agreement shall be construed as preventing the Contractor from
providing other services of any nature whatsoever to any other person, firm or
corporation during the Term or Subsequent Terms of this Agreement. 

4.                      
COMPENSATION 

4.1                    
During the Term, the Company shall pay to the Contractor a fee equal to €10,000
per month (the "Fee"), payable in arrears on the last day of each month,
commencing on August 31, 2008. 

4.2                    
In the month of December in each year of the Subsequent Terms, the Board or a
compensation committee of the Board (the "Committee") shall review the
performance of the Contractor and, if warranted, adjust the Fee and/or other
benefits payable to the Contractor. 

4.3                    
In addition to the Fee, the Contractor shall be entitled to rights and benefits
under any profit sharing, deferred compensation, stock appreciation rights,
stock option, and other plans or programs adopted by the Company comparable to
rights and benefits under such plans and programs as are customarily granted to
persons performing duties similar to those performed by the Contractor in
corporations of similar size, that carry on a similar type of business as that
carried on by the Company, provided that all of such options or rights are or
will be subject to separate written agreement(s), and acceptance of authorities
that may have jurisdiction over the affairs of the Company (collectively the
"Regulatory Authorities"), if necessary. 

5.                      
EXPENSES 

5.1                    
The Company shall reimburse the Contractor for its out-of-pocket expenses
incurred on behalf of the Company (the "Expenses"), provided that such Expenses
are reasonable in nature, and are properly documented by the Contractor.. 

4

5.2                    
The Expenses shall be reimbursed to the Contractor by the Company immediately
following presentation to the Company of evidence of such Expenses. 

5.3                     The
Contractor will establish and maintain books of account for any Expense
incurred, and will maintain invoices, receipts and vouchers for any such
Expenses. 

5.4                     The
Company will have free access at all reasonable times to such records, books of
account, invoices, receipts and vouchers for the purposes of copying and/or
auditing the same. 

6.                     
 TERMINATION 

6.1                    
For the purposes of this Section, the following words and expressions have the
following meanings unless the context otherwise requires: 

	 	(a) 	
      "Affiliate of the Company" means any person or entity
      controlled by, controlling or under common control with the Company. For
      the purposes of this definition, the term “control” when used with respect
      to any person or entity means the power to direct the management and
      policies of such person or entity, directly or indirectly, whether as an
      officer or director, through the ownership of voting securities, by
      contract or otherwise

	 	 	 	 
	 	(b) 	
      “Cause” means:

	 	 	 	 
	 		(i) 	
      any wilful failure by the Contractor or any of its
      employees in the performance of any of the Contractor’s duties pursuant to
      this Agreement;

	 	 	 	 
	 		(ii) 	
      the conviction of the Contractor or any of its employees
      of, or plea of nolo contendere to, any crime (indictable level or felony
      level or penalized by incarceration or a lesser crime involving moral
      turpitude), or any act involving money or other property involving the
      Company or an Affiliate of the Company which would constitute a crime in
      the jurisdiction involved;

	 	 	 	 
	 		(iii) 	
      any act of fraud, misappropriation, dishonesty,
      embezzlement or similar conduct against the Company, an Affiliate of the
      Company or a customer of the Company;

	 	 	 	 
	 		(iv) 	
      the use of illegal drugs or the habitual and disabling
      use of alcohol or drugs;

	 	 	 	 
	 		(v) 	
      any material breach of any of the terms of this
      Agreement, which breach remains uncured after the expiration of ten days
      following the delivery of written notice of such breach to the Contractor
      by the Company;

	 	 	 	 
	 		(vi) 	
      any act which is materially injurious to the Company or
      its business or that of any Affiliate of the Company; and

	 	 	 	 
	 		(vii) 	
      the failure of the Contractor to devote adequate time to
      the Company’s business, or conduct by the Contractor amounting to
      insubordination or inattention to, or substandard performance of the
      duties and responsibilities of the Contractor under this Agreement, which
      failure or conduct remains uncured after the expiration of ten days
      following the delivery of written notice of such failure or conduct to the
      Contractor by the Company.

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	 	(c) 	
      “Permanent Disability” means the total inability of an
      employee of the Contractor to perform the duties of the Contractor under
      this Agreement for a period of 60 consecutive days as certified by a
      physician chosen by the Company and reasonably acceptable to the
      Contractor.

6.2                    
This Agreement may be terminated only upon the occurrence of any of the
following events:

	 	(a) 	
      the death or Permanent Disability of an employee of the
      Contractor assigned to perform the Services;

	 	 	 
	 	(b) 	
      the Company's election to terminate this Agreement for
      Cause;

	 	 	 
	 	(c) 	
      the mutual agreement by the Contractor and the Company to
      terminate this Agreement;

	 	 	 
	 	(d) 	
      the Contractor’s election to terminate this Agreement,
      provided that the Contractor gives the Company at least 60 days prior
      written notice of the Contractor’s intent to terminate; or

	 	 	 
	 	(e) 	
      the Company's election to terminate this Agreement
      without Cause, provided that it gives the Contractor at least 60 days
      prior written notice of it’s intent to terminate or reasonable
      compensation in lieu of notice.

6.3                     Upon
the termination of this Agreement, the Company will have no further obligation
to the Contractor with respect to this Agreement, except for the payment of
compensation, if any, accrued pursuant to Sections 4 and 5 up to date of
termination of this Agreement and unpaid at the date of such termination.

7.                      
CONFIDENTIALITY AND NON-COMPETITION 

7.1                    
The Contractor shall not use for its own purposes, or for any purposes other
than those of the Company, any information that may be acquired during the Term
or Subsequent Terms with respect to the Company's affairs. 

7.2                    
The Contractor shall not disclose the private affairs of the Company, or any
confidential information to any person other than Company directors or pursuant
to Board policies or guidelines without the prior consent of the Board. For the
purposes hereof "confidential information" means all information, knowledge,
data, trade secrets, systems, methods, processes, know-how and business
projections respecting the Company and its business, properties and assets,
whether or not reduced to writing, and shall include all corporate records,
agreements, reports, maps, results and other relevant technical data, which in
any way and at any time or times has been or may be communicated to, acquired
by, or learned of by the Contractor in the course of or as a direct or indirect
result of the Contractor's access to the information concerning the Company.

7.3                    
The phase "confidential information" shall not include the following: 

	 	(a) 	
      information that, at the time of disclosure, is in the
      public domain; or

	 	 	 
	 	(b) 	
      information that, after disclosure to the Contractor, is
      published or otherwise becomes part of the public domain through no fault
      of the Contractor (but only after, and only to

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the extent that, such information is published or
  otherwise becomes part of the public domain). 

7.4                    
The Contractor shall not communicate confidential information to any person,
firm, corporation or business, except if compelled to do so by the rules or
policies of the Regulatory Authorities, a subpoena or an order of a court or
governmental agency having the power and jurisdiction to compel such disclosure;
PROVIDED that the Contractor shall use its best efforts to first give the
Company notice of such disclosure. 

7.5                    
For a period of two (2) years following the termination of this Agreement, the
Contractor shall not enter into any partnership, business arrangement, or
similar relationship with any actual, or in the process of potentially becoming,
business affiliate or partner of the Company, without the prior written approval
of the Company. 

8.                      
COSTS 

8.1                    
The parties to this Agreement acknowledge and agree that all costs and expenses
incurred in the preparation of this Agreement shall be borne by the Company.

9.                      
GOVERNING LAW 

9.1                    
This Agreement is governed by the laws of the Province of British Columbia, ,
and the laws of Canada applicable therein. 

10.                     COLLECTION
OF PERSONAL INFORMATION 

10.1                    The
Contractor acknowledges and consents to the fact that the Company may be
required by applicable legislation to provide the Regulatory Authorities with
any personal information provided by the Contractor, in accordance with the
requirements of the applicable securities legislation. 

11.                     
SURVIVAL 

11.1                   
The obligations of the parties hereto shall survive any expiration or
termination of this Agreement. 

12.                     
ASSIGNMENT 

12.1                   
This Agreement is not transferable or assignable, except in accordance with the
rules and policies of the Regulatory Authorities, and with the prior written
consent of all parties. 

13.                     
ENUREMENT 

13.1                    Subject
to the restrictions on transfer contained in this Agreement, this Agreement will
enure to the benefit of and be binding on the parties and their respective
heirs, executors, administrators, successors and permitted assigns. 

14.                     
SEVERABILITY 

14.1                   
Should any part of this Agreement be declared or held invalid for any reason,
such invalidity shall not affect the validity of the remainder, which shall
continue in force and effect and be construed as if this Agreement had been
executed without the invalid portion, and it is hereby declared the 

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intention of the parties hereto that this Agreement would have
been executed without reference to any portion that may, for any reason, be
hereafter declared or held invalid. 

15.                     
AMENDMENT AND WAIVER 

15.1                   
This Agreement may not be modified or amended except by an instrument in writing
signed by all parties hereto or by their permitted successors or assigns. 

15.2                   
No waiver or consent by a party of or to any breach or default by any other
party shall be effective unless evidenced in writing, executed and delivered by
the party so waiving or consenting and no waiver or consent effectively given as
aforesaid shall operate as a waiver of or consent to any further or other breach
or default in relation to the same or any other provision of this Agreement.

16.                    
 INDEPENDENT LEGAL ADVICE 

16.1                    All
parties to this Agreement acknowledge and agree that they have had adequate
opportunity to seek and obtain independent legal advice with respect to the
subject matter of this Agreement, and for the purpose of ensuring their rights
and interests are protected. 

16.2                    All
parties to this Agreement represent and warrant that they have either sought
independent legal advice, or consciously chosen not to do so with full knowledge
of the risks associated with not obtaining such independent legal advice. 

17.                     
NOTICES 

17.1                    All
notices given in connection with this Agreement shall be in writing and shall be
personally delivered, faxed or emailed to the parties at their addresses set out
on Page 1 of this Agreement or to the following fax numbers or email addresses:

	 	(a) 	the Company: 	Fax: 801-282-8829; 
	 	  	  	Email: euroutah@aol.com; 
	 	  	  	 
	 	(b) 	the Contractor: 	Fax: 604-688-4688; 
	 	  	  	Email: wrauball@telus.net;

17.2                   
Any such notices personally delivered, faxed or emailed shall be deemed
delivered on the day of delivery. 

17.3                   
Any party hereto may change its address for service by notice in writing to the
other parties hereto. 

18.                     
ENTIRE AGREEMENT 

18.1                   
Except as expressly provided in this Agreement and in the agreements,
instruments and other documents contemplated or provided for herein, this
Agreement contains the entire agreement between the parties and there are no
other terms, conditions, representations or warranties, whether expressed,
implied, oral or written, by statute or common law, by the Company or by anyone
else. 

19.                    
 GENERAL PROVISIONS 

19.1                   
Time is of the essences of this Agreement. 

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19.2                    Notwithstanding
anything herein to the contrary, the parties hereto shall not be deemed in
default with respect to the performance of any of the terms, covenants and
conditions of this Agreement, if the same shall be due to any strike, lock-out,
civil commotion, invasion, rebellion, hostilities, sabotage, governmental
regulations or controls, Acts of God, or otherwise beyond the control of the
parties. 

19.3                    Each
of the parties hereto hereby covenants and agrees to execute such further and
other documents and instruments, and to do such further and other things as may
be necessary to implement and carry out the intent of this Agreement. 

20.                     
COUNTERPARTS AND ELECTRONIC MEANS 

20.1                    This
Agreement may be executed in any number of counterparts, each of which, when so
executed and delivered, shall constitute an original and all of which together
shall constitute one instrument. 

20.2                    Delivery
of an executed copy of this Agreement by electronic facsimile transmission or
other means of electronic communication capable of producing a printed copy will
be deemed to be execution and delivery of this Agreement as of the date
hereinafter set forth. 

IN WITNESS WHEREOF the parties hereto have executed this
Agreement as of the day and year first above written. 

	EUROGAS, INC. 	) 	 
	  	) 	 
	Per: /s/ Roger Agyagos 	) 	 
	  	) 	 
	  	) 	 
	Authorized Signatory 	) 	 
	  	  	 
	  	  	 
	  	  	 
	GOETTE FINANCIAL CONSULTING LTD. 	) 	 
	  	) 	 
	Per: /s/ Wolfgang Rauball 	) 	 
	  	) 	 
	  	) 	 
	Authorized Signatory 	)Filed by sedaredgar.com - EuroGas, Inc. - Exhibit 10.8

THIS WARRANT AND THE SECURITIES DELIVERABLE UPON EXERCISE
HEREOF HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE "U.S. SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OF
THE UNITED STATES. THIS WARRANT MAY NOT BE EXERCISED BY OR ON BEHALF OF A “U.S.
PERSON” OR A PERSON IN THE UNITED STATES UNLESS THE WARRANT AND THE UNDERLYING
SECURITIES HAVE BEEN REGISTERED UNDER THE U.S. SECURITIES ACT AND THE APPLICABLE
SECURITIES LEGISLATION OF ANY SUCH STATE OR AN EXEMPTION FROM SUCH REGISTRATION
REQUIREMENTS IS AVAILABLE. "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED BY
REGULATION S UNDER THE U.S. SECURITIES ACT. 

EUROGAS, INC 
(a Utah Company)

	Warrant No. WT02-1R 	Warrant For The Purchase of 
	  	10,000,000 Shares of Restricted Common
      Stock 
	This Warrant will expire on June 10, 2010 	Par Value $0.001 

THIS IS TO CERTIFY THAT, for value received, Wolfgang
Rauball (the “Holder”), of 1011-1030 West Georgia Street, Vancouver,
B.C., V6E 2Y3, is entitled to subscribe for and purchase up to 10,000,000 fully
paid and non-assessable shares of common stock (the “Warrant Shares”) of
EuroGas, Inc., (the “Company”) at a purchase price per Warrant Share of
US $0.05 (the “Exercise Price”), exercisable until 4:00 p.m. (Salt Lake City
time) on June 10, 2010, subject to the provisions and upon the terms and
conditions hereinafter set forth. 

The rights represented by this Warrant may be exercised by the
Holder, in whole or in part (but not as to a fractional Share), and so long as
each exercise is in increments of 25,000 Warrant Shares, by surrender of this
Warrant at the office of the Company, at 4087 Nike Drive, Unit #4, West Jordan,
Utah, 84088, during its normal business hours, together with the subscription
form attached hereto completed and signed by the Holder and a certified cheque
payable to or to the order of the Company in payment of the Exercise Price for
the number of Warrant Shares subscribed. Upon the exercise of the rights
represented by this Warrant and payment of the Exercise Price in accordance with
the terms hereof, the Warrant Shares for which the Holder has subscribed and
purchased shall be deemed to have been issued and the Holder shall be deemed to
have become the holder of record of such Warrant Shares on the date of such
exercise and payment.

In the event of any exercise of the rights represented by this
Warrant, certificates for the Warrant Shares so purchased shall be delivered to
the Holder within a reasonable time, not exceeding ten business days after the
rights represented by this Warrant have been duly exercised and, unless this
Warrant has expired, a new Warrant representing the number of Warrant Shares, if
any, with respect to which this Warrant shall not then have been exercised shall
also be issued to the Holder within such time.

The Company covenants and agrees that the Warrant Shares which
may be issued upon the exercise of the rights represented by this Warrant will,
upon issuance, be fully paid and non-assessable and free of all liens, charges
and encumbrances. The Company further covenants and agrees that during the
period within which the rights represented by this Warrant may be exercised, the
Company will at all times have authorized and reserved, a sufficient number of
common shares to provide for the exercise of the rights represented by this
Warrant. 

Certificates representing Warrant Shares shall bear the
following legend: 

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR UNDER THE SECURITIES LAWS OF ANY STATE. THE SHARES HAVE BEEN ACQUIRED FOR
INVESTMENT AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE
OF AN EFFECTIVE REGISTRATION STATEMENT WITH RESPECT TO THE SHARES OR AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT THAT IS THEN
APPLICATION TO THE SHARES, AS TO WHICH A PRIOR OPINION OF COUNSEL ACCEPTABLE TO
THE ISSUER OF TRANSFER AGENT MAY BE REQUIRED.” 

THE FOLLOWING ARE THE TERMS AND CONDITIONS 
REFERRED TO IN
THIS WARRANT 

	1. 	
      In case the Company shall at any time subdivide its
      outstanding Common Shares into a greater number of common shares, the
      exercise price of the Warrant Shares shall be proportionately reduced and
      the number of subdivided Warrant Shares entitled to be purchased
      proportionately increased, and conversely, in case the outstanding Common
      Shares of the Company shall be consolidated into a smaller number of
      common shares, the exercise price of the Warrant Shares shall be
      proportionately increased and the number of consolidated Warrant Shares
      entitled to be purchased hereunder shall be proportionately
    decreased.

	 	 	 
		
      If any capital reorganization or reclassification of the
      capital stock of the Company, or the merger, amalgamation or arrangement
      of the Company with another corporation shall be effected, then as a
      condition of such reorganization, reclassification, merger, amalgamation
      or arrangement, adequate provision shall be made whereby the holder hereof
      shall have the right to purchase and receive upon the basis and upon the
      terms and conditions specified in this Warrant and in lieu of the Warrant
      Shares immediately theretofore purchasable and receivable upon the
      exercise of the rights represented hereby, such shares of stock, or other
      securities as may be issued with respect to or in exchange for such number
      of outstanding Common Shares equal to the number of Warrant Shares
      purchasable and receivable upon the exercise of this Warrant had such
      reorganization, reclassification, merger, amalgamation or arrangement not
      taken place. The Company shall not effect any merger, amalgamation or
      arrangement unless prior to or simultaneously with the consummation
      thereof the successor corporation (if other than the Company) resulting
      from such merger, amalgamation or arrangement assumes by written
      instrument executed and mailed or delivered to the holder of this Warrant
      the obligation to deliver to such holder such shares of stock or
      securities in accordance with the foregoing provisions as such holder may
      be entitled to purchase.

	 	 	 
	2. 	
      In case at any time:

	 	 	 
		(a) 	
      the Company shall pay any dividend payable in stock upon
      its Common Shares or make any distribution to the holders of its Common
      Shares;

	 	 	 
		(b) 	
      the Company shall offer for subscription pro rata to the
      holders of its Common Shares any additional shares of stock of any class
      or other rights;

	 	 	 
		(c) 	
      there shall be any subdivision, consolidation, capital
      reorganization, or reclassification of the capital stock of the Company,
      or merger, amalgamation or arrangement of the Company with, or sale of all
      or substantially all of its assets to, another corporation; or

	 	 	 
		(d) 	
      there shall be a voluntary or involuntary dissolution,
      liquidation or winding-up of the Company;

	 	 	 
		
      then, and in any one or more of such cases, the Company
      shall give to the holder of this Warrant, at least thirty days prior
      written notice of the date on which the books of the Company shall close
      or a record shall be taken for such dividend, distribution or subscription
      rights, or for determining rights to vote with respect to such
      subdivision, consolidation, reorganization, reclassification, merger,
      amalgamation, arrangement, sale, dissolution, liquidation or winding-up
      and in the case of any such subdivision, consolidation, reorganization,
      reclassification, merger, amalgamation, arrangement, sale, dissolution,
      liquidation or winding-up twenty days’ prior written notice of the date
      when the same shall take place. Such notice in accordance with the
      foregoing clause, shall also specify, in the case of any such dividend,
      distribution or subscription rights, the date on which the holders of
      Common Shares shall be entitled thereto, and such notice in accordance
      with the foregoing shall also specify the date on which the holders of
      Common Shares shall be entitled to exchange their Common Shares for
      securities or other property deliverable upon such subdivision,
      consolidation, reorganization, reclassification, merger, amalgamation,
      arrangement, sale, dissolution, liquidation or winding-up as the case may
      be. Each such written notice shall be given by first class mail,
      registered postage prepaid, addressed to the holder of this Warrant at the
      address of such holder, as shown on the books of the Company.

	 	 	 
	3. 	
      As used herein, the term “Common Shares” shall mean and
      include the Company’s authorized shares of common stock as constituted as
      of the date hereof, and shall also include any capital stock of any class
      of the Company hereafter authorized which shall not be limited to a fixed
      sum or percentage in respect of the rights of the holders thereof to
      participate in dividends and in the distribution of assets upon the
      voluntary or involuntary liquidation, dissolution or winding-up of the
      Company.

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	4. 	
      This Warrant shall not entitle the Holder to any rights
      as a shareholder of the Company, including without limitation, voting
      rights, except that the Company shall concurrently furnish to the Holder a
      copy of all notices which are furnished to holders of the Common
      Shares.

	 	 
	5. 	
      This Warrant and all rights hereunder or evidenced hereby
      may not be transferred either in whole or in part.

	 	 
	6. 	
      This Warrant is exchangeable upon its surrender by the
      Holder upon delivery to the Company at 4087 Nike Drive, Unit #4, West
      Jordan, Utah, 84088, for new Warrants with identical terms representing in
      the aggregate the right to subscribe for and purchase the number of
      Warrant Shares that may be subscribed for and purchased hereunder, each of
      such new Warrants to represent the right to subscribe for and purchase
      such number of Warrant Shares as shall be designated by the Holder at the
      time of such surrender.

	 	 
	7. 	
      Upon receipt by the Company of reasonable evidence of the
      ownership of and the loss, theft, destruction, or mutilation of this
      Warrant, the Company will execute and deliver, in lieu thereof, a new
      Warrant of like tenor.

	 	 
	8. 	
      Any notice or other communication required to be given in
      connection with this Warrant, whether to the Holder or otherwise, shall be
      personally delivered, faxed or emailed to the parties at the address set
      forth on the first page of this Warrant, or to the following fax number or
      email address.

	 	(a) 	Holder: 	fax: 604-688-4630; 
	 	  	  	email: wrauball@telus.net; 
	 	  	  	 
	 	(b) 	Company: 	fax: 801-282-8829; 
	 	  	  	email: euroutah1@aol.com.
  

		
      Any such notices personally delivered, faxed or emailed
      shall be deemed delivered on the date of delivery.

	 	 
		
      Either party may change its address for service by notice
      in writing to the other party.

	 	 
	9. 	
      After the expiration of the period within which this
      Warrant is exercisable, all rights hereunder will wholly cease and
      terminate and such Warrant will be void and of no effect.

	 	 
	10. 	
      Time is of the essence hereof.

	 	 
	11. 	
      This Warrant shall be governed by and construed in
      accordance with the laws of the State of Utah.

EuroGas, Inc., intending to be contractually bound, has
caused this Warrant to be signed by its duly authorized officer on June 10,
2004. 

EUROGAS, INC. 

By: /s/ Roger Agyagos 

______________________________________ 

  Authorized Signatory

SUBSCRIPTION FORM

	TO: 	EuroGas, Inc. 
	  	4087 Nike Drive 
	  	Unit #4 
	  	West Jordan, Utah 
	  	84088 

	
      The undersigned Holder of the within Warrant hereby
      subscribes for __________________________ shares of common stock (the
      “Warrant Shares”) of EuroGas, Inc. (the “Company) pursuant to the
      within Warrant at a price of US $0.05 per Warrant Share on the terms
      specified in the said Warrant. 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 Warrant Shares.
  

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

	NAME 	 	ADDRESS 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

DATED this ________ day of __________________, 200____. 

In the presence of: 

	 	 	 
	Signature of Witness 	 	Signature of Warrant Holder

Please print below your name and address in full. 

Name (Mr./Mrs./Ms.) _________________________________________________________________________

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-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]