Document:

Exhibit 10.11

    
      

    

    

      EXHIBIT
        10.11

    

     

    
      
        
          Deed
            of Assignment

        

         
Arabic
        Translation Omitted

       

    

    
      This
        Deed
        of Assignment is made and entered into on this day of ,2006 , by and between
        "Dover
        Investments Limited,
        a
        corporation organized and existing under the laws of Canada hereinafter referred
        to as ("Dover”),
        as
        ASSIGNOR, and
        TransPacific Petroleum Corp., a
        corporation organized and existing under the laws of Canada, hereinafter
        referred to as (“TransPacific”),
          and
        Mogul Energy International, Inc.
        a
        corporation organized and existing under the laws of the United States of
        America, hereinafter referred to as (“Mogul”)
        and
        Sea Dragon Energy Inc.
        a
        corporation organized and existing under the laws of Canada hereinafter referred
        to as (“Sea
        Dragon”)
        As
ASSIGNEES.

       

      
        WHEREAS,
          “Dover”
          has
          certain rights, privileges, duties and obligations under the Concession
          Agreement issued by Law No. 159 of 2002, dated 18th
          of July,
          2002, (hereinafter referred to as the “Concession Agreement``), entered into by
          the Government of the Arab Republic of Egypt (“Government”),
          the
          “Egyptian General Petroleum Corporation” (“EGPC”)
          and
          "Dover Investments Limited
          (“Dover”),
          for
          Petroleum Exploration and Exploitation covering the “East
          Wadi Araba ” Area,
          Gulf of Suez as described in Annex ``A`` and outlined in Annex ``B`` of
          the
          above mentioned Concession Agreement. 

         

        
          
            
            

          

          
            1

            
              

            

          

          
            
            

          

           

          
            WHEREAS,
              Dover
              wishes
              to
              assign:  Twenty
              Five percent(25%)
              to
TransPacific,
              Twenty
              percent(20%)
              to
Mogul
              and
              Forty percent (40%) to Sea
              Dragon of
              its
              rights, interests, privileges, duties and obligations in the above
              mentioned
              Concession Agreement. 

             

            WHEREAS
              TransPacific
              Mogul and
              Sea
              Dragon
              accept
              such Assignment.

            

            WHEREAS,
              pursuant to Article XXI of the aforementioned Concession Agreement,
EGPC
              must
              review and approve the text of this Assignment.

             

            WHEREAS,
              such Assignment is subject to the approval of the Government of the
              Arab
              Republic of Egypt.

            

            NOW,
              THEREFORE, the Parties of this Assignment agree as follows: 

             

            1
              - This
              Assignment is made in accordance with the provisions of Article XXI
              of the
              aforementioned Concession Agreement.

             

            2
              -
Dover
              hereby
              assigns an eighty five percent (85%) interest of its rights, interests,
              privileges, duties and obligations in the above mentioned Concession
              Agreement
              to TransPacific,
              Mogul and Sea Dragon 

            

            Upon
              the
              approval of this Deed of Assignment, the interests of the parties constituting
              the Contractor under the aforementioned Concession Agreement shall
              be as
              follows:

            

                TransPacific    25%

                Mogul             
              20%

                Sea
              Dragon     40%

                Dover              15%

            

            3
              - This
              Assignment shall be binding upon and inure to the benefit of the Parties
              hereto,
              their successors and assignees.

             

            
              
                
                

              

              
                2

                
                  

                

              

              
                
                

              

            

             

            4
              -
Dover
              states
              that it has duly fulfilled all of its obligations under the aforementioned
              Concession Agreement as of the date of this Assignment. 

             

            5
              -
              TransPacific, Mogul, and
              Sea
              Dragon.
              (as
              Assignees) expressly state that they are bound by all the provisions
              and
              covenants contained in the aforementioned Concession Agreement and
              any
              modifications or additions in writing, as well as any contracts concluded
              by
Dover
              (as
              Assignor) with EGPC
              in
              implementation thereof that may have been made up to the date of this
              Deed of
              Assignment.

             

            6
              -
              Dover, TransPacific, Mogul
              and
              Sea Dragon state
              that the rights and privileges of both the Government
              and
EGPC
              contained in the Concession Agreement shall not be prejudiced by the
              provisions
              of this Deed of Assignment.

             

            7
              -
              Pursuant to Article XXI paragraph (d) of the Concession Agreement,
TransPacific,
               Mogul,
              Sea Dragon state
              that they, together with Dover,
              shall
              be vis-vis jointly and severally liable to the Government
              and
EGPC
              for the
              performance of the obligations of Contractor under the aforementioned
              Concession
              Agreement.

             

            8
              -
              TransPacific
              (The
              Operator),
              (through
              it’s office in The A.R.E.) shall further be the entity to which, from
              which and
              in whose name all notifications related to, or in connection with the
              aforementioned Concession Agreement shall be made.

          

           

          
            9
              - This
              Assignment shall be effective as of the date of the approval of the
Government.

             

            
              
                
                

              

              
                3

                
                  

                

              

              
                
                

              

            

             

            IN
              WITNESS WHEREOF, the Assignment parties have duly executed this Deed
              of
              Assignment on this    day of    ,
              2006.

          

           

          

            ASSIGNOR:
              

            

            By:
              DOVER INVESTMENTS LIMITED

            

            Name:
              Robert P. Salna

            

            Title:
              President

            

            Signature:
              /s/
              Robert P. Salna

            

            

             

            ASSIGNEES:

            

            By:
              TRANSPACIFIC PETROLEUM CORP.

            

            Name:
              Dr. Ghareeb M. Awad

            

            Title:
              President

            

            Signature:
              /s/
              Ghareeb M. Awad

            

            

             

            By:
              MOGUL ENERGY INTERNATIONAL INC.

            

            Name:
              Naeem Tyab

            

            Title:
              President

            

            Signature:
              /s/
              Naeem
              Tyab

            

            
              
                
                

              

              
                4

                
                  

                

              

              
                
                

              

            

          

          

            By:
              SEA DRAGON ENERGY INC.

            

            Name:
              David Thompson

            

            Title:
              President

            

            Signature
              /s/
              David
              Thompson

            

            The
              above
              mentioned Deed of Assignment dated the    day
              of    2006,
              of the East Wadi Araba Area Concession Agreement in the Arab Republic
              of Egypt
              issued by Law No. 159 of 2002 is approved and accepted. 

             

            Egyptian
              General Petroleum Corporation

             

            Name:
              Eng. Ibrahim Saleh Mahmoud

             

            Title:
              Chairman of the Board

             

            Signature:

             

            Date:

             

             

             

            Arab
              Republic Of Egypt Government

             

            Name:
              Eng. Sameh Fahmy

             

            Title:
              Minister of Petroleum

             

            Signature:

             

            Date:

          

           

           

          5Unassociated Document

    
      

    

    

      EXHIBIT
        10.12

      

      A
        Binding Agreement

      

      

      Mogul
        Energy Ltd. (“Mogul”), a company incorporated and existing under the laws of the
        Province of British Columbia-Canada and TransPacific Petroleum Corp.
        (“TransPacific”), a company incorporated and existing under the laws of the
        Province of British Columbia-Canada, hereby acknowledge and agree to the
        following: 

      

      1. 
        TransPacific was instrumental in arranging an Option by Mogul to acquire
        the
        rights to Avir Enterprises Ltd.’s Saskatchewan P&NG Lease PN 46794,
        designated as “Walpole Prospect” and described as:

      

      Lease
        Date: June 06, 2000 Effective Date: April 01, 2001    Term: 5
        years

      Land
        Description: W 1⁄2 Sec.2, SE 1⁄4 Sec.11, W 1⁄2 Sec.12 Township 11 Range 32
        WIM.

      

      2.
         Mogul shall exercise, within 60 days from Avir’s acceptance date of the
        attached Option Agreement, its option to pay Avir a lump sum of $25,000 (twenty
        five thousand Canadian dollars) to acquire its entire rights to Saskatchewan
        P&NG Lease PN 46794.

      

      3. 
        Based on TransPacific’s evaluation, the partners will acquire additional crown
        and free- hold land in the general area whereby, Mogul will pay all costs
        of
        lands and seismic acquisition and will have 75% (seventy five percent) interest
        wheras, TransPacific will be assigned 25% (twenty five percent) interest
        and
        carried at no cost, other than the value of its technical evaluation and
        seismic
        interpretation of the project.

      

      4. 
        Mogul is committed to drill, test, complete, equip or abandon an exploratory
        well to penetrate all potential oil and gas intervals down to approximately
        2,000 meters or the Basement, whichever comes first, in a location designated
        as
        Walpole 5-2-11-32 W1M for an estimated budget of approximately $500,000 for
        a
        dry hole and $700,000 for a successful, completed and equipped well, to earn
        75%
        and TransPacific will earn 25% interest in the prospect.

      

      5. 
        In consideration of TransPacific’s efforts and past expenses incurred to develop
        this project, secure the option agreement with Avir and its technical
        contribution to the project, its 25% share of the costs to drill, complete,
        test, equip or abandon such well will be borne entirely by Mogul, and will
        not
        be subject to cost recovery.

      

      6. 
        TransPacific will be the Operator of the project and all operating expenses
        to
        explore, produce, process and sell the oil as well as its Vancouver office
        and
        field base expenses will be charged to the project, commencing with the
        production and sale of petroleum or natural gas and as long as the project
        continues the production and TransPacific does not dispose of its interest
        in
        the property to a third party.

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

       

      7. 
        TransPacific will be represented by one member of a four member Operating
        Committee whereby, under no circumstances, any actions concerning the running
        of
        operations, any expenditures, dilution, divesture of interests or acquisition
        will be valid or legal without the unanimous approval of the Operating Committee
        members.

      

      8. 
        Upon the completion and equipping or abandonment of the Walpole exploratory
        well, the acquisition of the crown and freehold lands and seismic, TransPacific
        and Mogul will each be responsible for any further investments in accordance
        with their respective share.

      

      9. 
        The rights and obligations of the Parties to this agreement shall be governed
        and construed according with the laws of the provinces of British Columbia,
        Alberta and Saskatchewan and in accordance with the CAPL (Canadian Association
        of Petroleum Landmen) Model Agreement.

      

      10. 
        All disputes between TransPacific and Mogul will be resolved and arbitrated
        under the rules of the Province of Alberta-Canada by three arbitrators, one
        arbitrator to be selected by each party and the two arbitrators should agree
        on
        the third one, unless the parties mutually agree to a single
        arbitrator..

      

      11. 
        This Agreement shall ensure to the benefit of, and binding on the Parties
        hereto, and respective successors and permitted assigns, and upon their heirs,
        executors, administrators and assigns of persons how are, or become, Parties
        hereto.

      

      

      Accepted
        and Agreed to this on the 14th
        day of
        April, 2005

      

      

      /s/
        Sophia Khan

      Ms.
        Sophia Khan - President, Mogul Energy Ltd.

      

       

      /s/
        Ghareeb M.
        Awad                                                                         

      Dr.
        Ghareeb M. Awad - President, TransPacific Petroleum Corp. 

      
 

    

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