Document:

EXHIBIT 10.2

                                    LES BATES

                              EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (the "Agreement"), effective as of the 1st day of
March 2005, is between New Frontier Energy, Inc., a Colorado corporation with
its principal place of business located at 5632 S. Spotswood St., Littleton,
Colorado 80120 (the "Company") and Les Bates (the "Employee").

                                    RECITALS

     A. The Company desires to be assured of the association and services of
Employee for the Company.

     B. Employee is willing and desires to be employed by the Company, and the
Company is willing to employ Employee, upon the terms, covenants and conditions
hereinafter set forth.

     NOW THEREFORE, in consideration of the Recitals and the mutual covenants,
promises, agreements, representations and warranties contained in this
Agreement, the parties hereby accept employment on the terms and conditions
hereinafter set forth.

     1. Employment. The Company hereby employs Employee as its
Secretary/Treasurer, Principal Accounting Officer and Chief Financial Officer of
the Company.

     2. Term. The term of this Agreement shall be for a period of three (3)
years effective as of March 1, 2005 and ending on February 29, 2008 (the
"Initial Term"), unless terminated earlier pursuant to Section 10 below;
provided, however, that Employee's obligations in Section 11 below shall
continue in effect after such termination. This Agreement shall be automatically
renewed for successive one-year periods (the "Renewal Term") unless, at least 60
days prior to the expiration of the Initial Term or any Renewal Term, either
party gives written notice to the other party specifically electing to terminate
this Agreement at the end of the Initial Term or any such Renewal Term.

     3. Compensation.

     (a) Base Salary. For all services rendered by Employee under this
Agreement, the Company shall pay Employee a base salary of Eighty Five Thousand
Dollars ($85,000) per year (the "Base Salary"). The Base Salary shall be payable
in equal, consecutive monthly installments. Payment of the Salary shall be
subject to the customary withholding tax and other employment taxes as required
with respect to compensation paid by a corporation to an employee. It is
expressly understood and agreed that the Base Salary may be increased upon the
approval of the Company's Compensation Committee (if such a committee exists) or
of the Board of Directors. Furthermore, the Base Salary shall be increased,
effective on the 1st day of March of each year, beginning on March 1, 2006, for
increases in the cost of living, based either on (i) inflation as measured the
federal Consumer Price Index ("CPI"), or (ii) Five Thousand Dollars ($5,000) per
year, whichever is greater. To determine the amount of the increase in Base
Salary using the CPI method, the Base Salary shall be multiplied by a fraction,
the numerator of which shall be the CPI most recently published on the month
immediately preceding the date of the Base Salary adjustment, and the
denominator of which shall be the CPI in effect on the last day in February of
the immediately preceding year. The term "Base Salary" as used herein shall
refer to the Base Salary, as adjusted.

<PAGE>
     (b) Bonus. In addition to the Base Salary, the Company shall pay Employee
such Bonus or Bonuses as the Board of Directors shall determine in their sole
discretion.

     4. Reimbursement. The Employee is authorized to incur reasonable expenses
for promoting the business of the Company, including his out-of-pocket expenses
for entertainment, travel and similar items. The Company shall reimburse the
Employee for all such expenses on the presentation by the Employee, from time to
time, of an itemized account of such expenditures in accordance with the
guidelines set forth by the Internal Revenue Service for travel and
entertainment.

     5. Duties. Employee is engaged as the Secretary/Treasurer, Principal
Accounting Officer and Chief Financial Officer of the Company. In such capacity,
Employee shall exercise detailed supervision over the operations of the Company
subject, however, to control by the Board of Directors. The Employee shall
perform all duties incident to the title of Secretary and such other duties as
from time to time may be assigned to him by the Board of Directors.

     6. Employee's Devotion of Time. Employee shall devote such productive time,
ability, and attention to the business of the Company during the term of this
agreement, as employee deems necessary to accomplish the duties assigned to him
and to the promotion and forwarding of the business affairs of the Company, and
not to divert any business opportunities from the Company to himself or to any
other person or business entity. Such services shall be rendered at such other
place or places as the Company shall in good faith require or as the interest,
needs, business or opportunity of the Company shall require. the Company
understands that Employee has other commitments and will not function
exclusively as the Company's employee; however, it is expected that the employee
will devote significant time to the business of the Company.

     7. Benefits. The Employee shall be entitled to receive any and all health,
insurance, disability or any other benefit, if and when a plan is adopted by the
Board of Directors for the benefit of its employees.

     8. Vacation. The Employee shall be entitled each year to a vacation of a
reasonable amount during which time his compensation shall be paid in full.

     9. Change of Control. If any time during the Initial Term or any Renewal
Term of this Agreement there is a change of control of the Company, as defined
below, and Employee's employment is terminated by the Company under Section
10.1(a), (b), (d) or (e) within the greater of one (1) year following the change
of control or the remaining term of this Agreement (the "Change of Control
Date"), the Company shall pay to Employee (a) the balance of all amounts due
from the Change of Control Date until the end of the Initial Term plus (b) an
amount equal to 2.99 times the sum of (i) his annual Base Salary as in effect on
the date of termination plus (ii) the amount of bonus paid in the prior year to
Employee, and (c) any other amounts due to Employee under any other provision of
this Agreement. This amount shall be paid to Employee in one lump sum as soon as
practicable, but in no event later than one hundred twenty (120) days, after the
date that Employee's employment is terminated. In addition to the lump sum
payment referenced in the preceding sentence, the Company shall pay to Employee
any accrued and unpaid bonuses as provided for in Section 3(b) at the same time
as the lump sum payment is made. For example, if the Change of Control Date was
March 1, 2006, the amount paid to would be equal to [$90,000 (Base Salary
adjusted for CPI) + $0.00 (Bonus)] X 2 (years remaining on contract)] + [$90,000
(base salary adjusted for CPI) X 2.99] or an aggregate of $449,100).

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<PAGE>
     If any payment or distribution by the Company to Employee is determined to
be subject to the excise tax imposed by Section 4999 of the Internal Revenue
Code, Employee is entitled to receive a payment on an after-tax basis equal to
the excise tax imposed. Employee is under no obligation to mitigate amounts
payable under these agreements.

     For purposes of this subsection, a change of control shall mean the
occurrence of one or more of the following three events:

     (1)  After the effective date of this Agreement, any person becomes a
          beneficial owner (as such term is defined in Rule 13d-3 promulgated
          under the Securities Exchange Act of 1934, as amended) directly or
          indirectly of securities representing 33% or more of the total number
          of votes that may be cast for the election of directors of the
          Company;

     (2)  Within two years after a merger, consolidation, liquidation or sale of
          assets involving the Company, or a contested election of a Company
          director, or any combination of the foregoing, the individuals who
          were directors of the Company immediately prior thereto shall cease to
          constitute a majority of the Board of Directors; or

     (3)  Within two years after a tender offer or exchange offer for voting
          securities of the Company, the individuals who were directors of the
          Company immediately prior thereto shall cease to constitute a majority
          of the Board of Directors.

     10. Termination and Bases for Termination.

     (a) Employee's employment hereunder may be terminated at any time by mutual
agreement of the parties.

     (b) Should the Employee, by reason of illness or incapacity, be unable to
perform his job for a period of up to and including a maximum of two (2) months,
the compensation payable for and during such period under this Agreement shall
be unabated. The Board of Directors shall have the right to determine the
incapacity of the Employee for the purposes of this provision, and any such
determination shall be evidenced by its written opinion delivered to the
Employee. Such written opinion shall specify with particularity the reasons
supporting such opinion and be manually signed by at least a majority of the
Board. Should the Board of Directors determine the Employee incapable of the
performance of his duties, the Employee's compensation thereafter shall be
terminated.

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<PAGE>
     The Employee shall begin to receive full compensation pursuant to Section 3
of this Agreement upon his return to employment and regular discharge of his
full duties hereunder. Should the Employee be absent from his employment for
whatever cause for a continuous period of more than 180 calendar days, the
Company may terminate this Agreement and all obligations of the Company
hereunder shall cease upon such termination.

     (c) Employee's employment may be terminated by the Company "with cause,"
effective upon delivery of written notice to Employee given at any time (without
any necessity for prior notice) if any of the following shall occur:

          (1) any action by Employee which would be grounds for termination
     under applicable law (currently covering any willful breach of duty, and
     habitual neglect of duty);

          (2) any material breach of Employee's obligations in Sections 5 or 11
     of this Agreement; or

          (3) any material acts or events which inhibit Employee from fully
     performing his responsibilities to the Company in good faith, such as (i) a
     felony criminal conviction; (ii) any other criminal conviction involving
     Employee's lack of honesty or Employee's moral turpitude; (iii) drug or
     alcohol abuse; or (iv) acts of dishonesty, gross carelessness or gross
     misconduct.

     (d) Employee's employment may be terminated by the Company "without cause"
(for any reason or no reason at all) at any time by giving Employee 60 days
prior written notice of termination, which termination shall be effective on the
60th day following such notice. If Employee's employment under this Agreement is
so terminated, the Company shall (i) make a lump sum cash payment to Employee
within 10 days after termination is effective of an amount equal to (1)
Employee's Base Salary accrued to the date of termination; (2) unreimbursed
expenses accrued to the date of termination; (3) an amount equal to the greater
of (a) Employee's annual Base Salary (i.e., 12 months of Base Salary), or (b)
amounts remaining due to Employee as Base Salary (assuming that payments under
this Agreement were made until expiration of the Initial Term or if applicable
the Renewal Term), and (4) any other amounts due to Employee under any other
provision of this Agreement. For purposes of this provision, Employee's annual
Base Salary and the remaining portion of the term of the Agreement shall be
calculated as of the termination date. After the Company's termination of
Employee under this provision, the Company shall not be obligated to provide the
benefits to Employee described in Section 3 (except as may be required by law).
In addition to the lump sum payment referenced in this section, the Company
shall pay to Employee the Bonus provided for in Section 3(b) based upon the
number of days in the year that Employee was employed by the Company, within one
hundred twenty days after the end of the fiscal year in which Employee was
terminated.

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<PAGE>
     (e) Employee may terminate his employment hereunder by giving the Company
60 days prior written notice, which termination shall be effective on the 60th
day following such notice. The Company shall not be obligated to compensate
Employee, his estate or representatives after any such termination. Further,
Employee shall not be entitled to any of the benefits described in Section 3
(except as provided by law) after such termination.

     10.2 Payment Upon Termination. Upon termination under Sections 10.1(a),
(b), (c) or (e), the Company shall pay to Employee within 10 days after
termination an amount equal to the sum of (1) Employee's Base Salary accrued to
the date of termination; (2) unreimbursed expenses accrued to the date of
termination, and (3) any other amounts due to Employee under any other provision
of this Agreement. The Company shall not be obligated to compensate Employee,
his estate or representatives after any such termination. Further, Employee
shall not be entitled to any of the benefits described in Section 3 (except as
provided by law) after such termination.

     10.3 Dismissal from Premises. At the Company's option, Employee shall
immediately leave the Company's premises on the date notice of termination is
given by either Employee or the Company.

     11. Confidential Information. During the term of this Agreement, the
Employee will have access to certain confidential information and materials,
including but not limited to oil and gas property and lease information,
originated by the Company or disclosed to the Company by others under agreements
to hold the same confidential ("Confidential Information"). Confidential
Information further includes, but is not limited to, all technical, engineering,
property and lease information, financial, business practices, customer lists,
customer identities and commercial information heretofore or hereafter disclosed
or transmitted by the Company in any form and manner to the Employee or
otherwise received by the Employee, whether orally or in writing. Employee
acknowledges that Employee shall not either directly or indirectly use, disclose
or communicate to any person or entity any Confidential Information for any
purpose at all whether during or after the term of this Agreement, except to the
extent any such information becomes generally known to the public through no
fault of Employee. Furthermore, the terms of this provision shall survive the
Term or any Renewal Term of this Agreement, or any termination thereof.

     12. Miscellaneous.

     (a) Entire Agreement. This Agreement contains the entire agreement between
the Company and the Employee, regarding employment of the Employee. This
Agreement shall not be modified except by written agreement signed by both
parties.

     (b) Headings. The subject headings of the articles and sections contained
in this Agreement are included for convenience purposes only and shall not
control or affect the meaning, construction or interpretation of any provision
hereof.

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<PAGE>
     (c) Assigns. This Agreement shall be binding upon the Company and Employee,
their respective heirs, executors, legal representatives, successors and
assigns.

     (d) Notices. All notices, demands, elections, opinions or requests (however
characterized or described) required or authorized hereunder shall be deemed
given sufficiently if in writing and sent by registered or certified mail,
return receipt requested and postage prepaid, or by tested telex, telegram or
cable to, in the case of the Company:

                  New Frontier Energy, Inc.
                  P.O. Box 298
                  Littleton, CO 80160-0298

and in the case of the Employee:

                  Les Bates
                  6909 E. Fremont Avenue
                  Centennial, CO 80112

     (e) Remedies. Employee acknowledges that any failure to carry out an
obligation under this Agreement, or a breach by the Employee of any provision
herein, will constitute immediate and irreparable damage to the Company, which
cannot be fully and adequately compensated in money damages and which will
warrant preliminary and other injunctive relief, an order for specific
performance, and other equitable relief. Employee also understands that other
actions may be taken and remedies enforced against the Employee, including
termination of any other agreements the Employee may have with the Company.

     (f) Waiver and Severability. No waiver by either party of any breach or
default hereof by the other shall be deemed to be a waiver of any preceding or
succeeding breach or default hereof, and no waiver shall be operative unless the
same shall be in writing. Should any provision of this Agreement be declared
invalid by a court of competent jurisdiction, the remaining provisions hereof
shall remain in full force and effect regardless of such declaration.

     (g) Arbitration. Any dispute regarding the subject matter of this Agreement
shall be resolved by binding arbitration to be conducted by an arbitration
association upon mutual written agreement of the parties. The prevailing party
shall be entitled to an award of attorney's fees, costs and expenses. The award
may be converted to an order of a court of competent jurisdiction, and each
party voluntarily submits to personal jurisdiction in the federal and state
courts located in Colorado. Notwithstanding the aforementioned, the Company
shall be entitled to seek injunctive relief for violation of the provisions of
Section 11 herein.

     (h) Counterparts. This Agreement may be executed in several counterparts,
and as to executed shall constitute one Agreement, binding on all parties
hereto, notwithstanding that all parties are not signatory as to other original
or the same counterpart. Facsimile signatures are acceptable.

     (i) Time. Time is of the essence.

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<PAGE>
     (j) Governing Law. This Agreement shall be construed under the laws of the
State of Colorado.

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<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement effective on
the day and year first above written.

THE COMPANY:                                                  THE EMPLOYEE:

NEW FRONTIER ENERGY, INC.

By:  /s/ Paul G. Laird                         /s/ Les Bates
   ----------------------------                ---------------------------------
     Paul G. Laird, President                  Les Bates

                                       8
<PAGE>EXHIBIT 10.3

                            NEW FRONTIER ENERGY, INC.

                        STOCK OPTION AND STOCK GRANT PLAN

                                    ARTICLE I
                                  INTRODUCTION

         1.1 Establishment. New Frontier Energy, Inc., a Colorado corporation
(hereinafter referred to as the "Company" except where the context otherwise
requires), hereby establishes the New Frontier Energy Stock Option and Stock
Grant Plan (the "Plan") for certain key employees, directors, consultants and
other persons rendering substantial service to the Company. The Plan permits the
grant of incentive stock options ("Incentive Options") within the meaning of
Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"),
non-qualified stock options ("Non-Qualified Options"), restricted stock awards,
stock bonuses and other stock grants to certain key employees of the Company and
others providing valuable service to the Company.

         1.2 Purposes. The purposes of the Plan are to provide those who are
selected for participation in the Plan with added incentives to continue in the
long-term service of the Company and to create in such persons a more direct
interest in the future success of the operations of the Company by relating
incentive compensation to increases in shareholder value. The Plan is also
designed to provide a financial incentive that will help the Company attract,
retain and motivate the most qualified employees and consultants.

                                   ARTICLE II
                                   DEFINITIONS

     2.1 Definitions. The following terms shall have the meanings set forth
below:

     (a) "Award" means an Option, a Restricted Stock Award, or other issuances
of Stock hereunder.

     (b) "Board" means the Board of Directors of the Company.

     (c) "Code" means the Internal Revenue Code of 1986, as it may be amended
from time to time.

     (d) "Committee" means a committee consisting of members of the Board who
are empowered hereunder to take actions in the administration of the Plan.
Members of the Committee shall be appointed from time to time by the Board,
shall serve at the pleasure of the Board and may resign at any time upon written
notice to the Board. The Committee shall select Participants from Eligible
Employees and Eligible Consultants of the Company, and shall determine the
awards to be made pursuant to the Plan and the terms and conditions thereof. In
the absence of appointment of a committee, the Board shall administer the Plan.

<PAGE>

     (e) "Disabled" or "Disability" shall have the meaning given to such terms
in Section 22(e)(3) of the Code.

     (f) "Effective Date" means the date on which the Plan was approved by the
Board of Directors, June 6, 2003.

     (g) "Eligible Employees" means those key employees (including, without
limitation, officers, directors (whether or not they are also employees of the
Company) and other individuals or entities providing substantial service to the
Company upon whose judgment, initiative and efforts the Company is, or will
become, largely dependent for the successful conduct of its business. For
purposes of the Plan, an employee is an individual whose wages are subject to
the withholding of federal income tax under Section 3401 of the Internal Revenue
Code.

     (h) "Eligible Consultants" means those consultants to the Company who are
determined, by the Committee, to be individuals whose services are important to
the Company and who are eligible to receive Awards, other than Incentive
Options, under the Plan.

     (i) "Fair Market Value" means the closing price of the Stock on a
securities exchange, national market system, automated quotation system or
bulletin board on which the Stock is traded or reported on a particular date. If
the price of the Stock is not reported or quoted in any such medium, the Fair
Market Value of the Stock on a particular date shall be as determined by the
Committee.

     (j) "Incentive Option" means an Option designated as such and granted in
accordance with Section 422 of the Code.

     (k) "Non-Qualified Option" means any Option other than an Incentive Option.

     (l) "Option" means a right to purchase Stock at a stated or formula price
for a specified period of time. Options granted under the Plan shall be either
Incentive Options or Non-Qualified Options.

     (m) "Option Holder" means a Participant who has been granted one or more
Options under the Plan.

     (n) "Option Price" means the price at which shares of Stock subject to an
Option may be purchased, determined in accordance with Article V.

     (o) "Participant" means an Eligible Employee or Eligible Consultant
designated by the Committee from time to time during the term of the Plan to
receive one or more of the Awards provided under the Plan.

     (p) "Restricted Stock Award" means an award of Stock granted to a
Participant pursuant to Article VI that is subject to certain restrictions
imposed in accordance with the provisions of such Section.

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<PAGE>

     (q) "Share" means a share of Stock.

     (r) "Stock" means the $0.001 par value Common Stock of the Company.

                                   ARTICLE III
                               PLAN ADMINISTRATION

     3.1 The Plan shall be administered by the Committee, or in the absence of
appointment of a Committee, by the entire Board of Directors. All references in
the Plan to the Committee shall include the entire Board of Directors if no such
Committee is appointed.

     3.2 In accordance with the provisions of the Plan, the Committee shall, in
its sole discretion, select the Participants from among the Eligible Employees
and Eligible Consultants, determine the Awards to be made pursuant to the Plan,
the number of shares of Stock to be issued thereunder and the time at which such
Awards are to be made, fix the Option Price, period and manner in which an
Option becomes exercisable, establish the duration and nature of Restricted
Stock Award restrictions and establish such other terms and requirements of the
various compensation incentives under the Plan as the Committee may deem
necessary or desirable and consistent with the terms of the Plan.

     3.3 The Committee may from time to time adopt such rules and regulations
for carrying out the purposes of the Plan as it may deem proper and in the best
interests of the Company. The Committee may correct any defect, supply any
omission or reconcile any inconsistency in the Plan or in any agreement entered
into hereunder in the manner and to the extent it shall deem expedient and it
shall be the sole and final judge of such expediency.

     3.4 The Board may at any time terminate, and from time to time may amend or
modify the Plan provided, however, that no amendment or modification may become
effective without approval of the amendment or modification by the shareholders
if shareholder approval is required to enable the Plan to satisfy any applicable
statutory or regulatory requirements, or if the Company, on the advice of
counsel, determines that shareholder approval is otherwise necessary or
desirable.

     3.5 Upon determination by the Committee that an Award is to be granted to a
Participant, written notice shall be given to such person, specifying the terms,
conditions, rights and duties related thereto. Awards shall be deemed to be
granted as of the date specified in the grant resolution of the Committee, which
date shall be the date of any related agreement with the Participant. In the
event of any inconsistency between the provisions of the Plan and any such
agreement entered into hereunder, the provisions of the Plan shall govern.

                                       3

<PAGE>

                                   ARTICLE IV
                            STOCK SUBJECT TO THE PLAN

         4.1 Number of Shares. Subject to the provisions regarding changes in
capital described below, the number of Shares that are authorized for issuance
under the Plan in accordance with the provisions of the Plan shall not exceed
2,500,000, plus an annual increase to be added on the day of each annual
stockholders' meeting beginning with the annual stockholders' meeting in 2004,
and if no meeting is held, then on the anniversary of the adoption of the Plan,
equal to the least of the following amounts (i) 3% of the Company's outstanding
shares on such date (rounded to the nearest whole share and calculated on a
fully diluted basis, that is assuming the exercise of all outstanding stock
options and warrants to purchase common stock) or (ii) an amount determined by
the Board. The Shares may be either authorized and unissued Shares or previously
issued Shares acquired by the Company. This authorization may be increased from
time to time by approval of the Board and by the stockholders of the Company if,
in the opinion of counsel for the Company, stockholder approval is required. The
Company shall at all times during the term of the Plan and while any Options are
outstanding retain as authorized and unissued Stock at least the number of
Shares from time to time required under the provisions of the Plan, or otherwise
assure itself of its ability to perform its obligations hereunder.

         4.2 Other Shares of Stock. Any Shares that are subject to an Option
that expires or for any reason is terminated unexercised shall automatically
become available for use under the Plan.

         4.3 Adjustments for Stock Split, Stock Dividend, Etc. If the Company
shall at any time increase or decrease the number of its outstanding Shares or
change in any way the rights and privileges of such Shares by means of the
payment of a stock dividend or any other distribution upon such shares payable
in Stock, or through a stock split, subdivision, consolidation, combination,
reclassification or recapitalization involving the Stock, then in relation to
the Stock that is affected by one or more of the above events, the numbers,
rights and privileges of the following shall be increased, decreased or changed
in like manner as if they had been issued and outstanding, fully paid and
nonassessable at the time of such occurrence: (i) the Shares as to which Awards
may be granted under the Plan and (ii) the Shares then included in each
outstanding Award granted hereunder.

         4.4 General Adjustment Rules. No adjustment or substitution provided
for in this Article IV shall require the Company to sell a fractional share of
Stock under any Option, or otherwise issue a fractional share of Stock, and the
total substitution or adjustment with respect to each Option and other Award
shall be limited by deleting any fractional share.

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<PAGE>

                                    ARTICLE V
                                     OPTIONS

         5.1 Grant of Options. The Committee in its sole discretion shall
designate each Participant in the Plan and whether the granted Option is an
Incentive Option or a Non-Qualified Option. The Committee may grant both an
Incentive Option and a Non-Qualified Option to an Eligible Employee or Eligible
Consultant at the same time or at different times. An Option shall be considered
as having been granted on the date specified in the grant resolution of the
Committee.

         5.2 Stock Option Agreements. Each Option granted under the Plan shall
be evidenced by a written stock option agreement (an "Option Agreement"). An
Option Agreement shall be issued by the Company in the name of the Participant
to whom the Option is granted (the "Option Holder") and in such form as may be
approved by the Committee. The Option Agreement shall incorporate and conform to
the conditions set forth in this Section 5.2 as well as such other terms and
conditions that are not inconsistent as the Committee may consider appropriate
in each case.

                  (a) Number of Shares. Each Option Agreement shall state that
it covers a specified number of shares of Stock, as determined by the Committee.

                  (b) Price. The price at which each share of Stock covered by
an Option may be purchased shall be determined in each case by the Committee and
set forth in the Option Certificate, but in no event shall the price be less
than 100 percent of the Fair Market Value of the Stock on the date an Incentive
Option is granted. Furthermore, no ten percent Stockholder shall be eligible for
the grant of an Incentive Stock Option unless the exercise price of such Option
is at least one hundred ten percent (110%) of the Fair Market Value of the
Common Stock at the date of grant and the Option is not exercisable after the
expiration of five (5) years from the date of grant.

                  (c) Duration of Options; Restrictions on Exercise. Each Option
Agreement shall state the period of time, determined by the Committee, within
which the Option may be exercised by the Option Holder (the "Option Period").
The Option Period must end, in all cases, not more than ten years from the date
the Option is granted. The Option Agreement shall also set forth any installment
or other restrictions on Option exercise during such period, if any, as may be
determined by the Committee. Each Option shall become exercisable (vest) over
such period of time, if any, or upon such events, as determined by the
Committee.

         5.3 Termination of Services, Death, Disability, Etc. The Committee may
specify at the time of granting the Option but not thereafter the period, if
any, after which an Option may be exercised following termination of the Option
Holder's services. The effect of this subsection 5.3 shall be limited to
determining the consequences of a termination and nothing in this subsection 5.3
shall restrict or otherwise interfere with the Company's discretion with respect
to the termination of any individual's services. If the Committee does not
otherwise specify, the following shall apply:

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<PAGE>

                  (a) If the services of the Option Holder are terminated within
the Option Period for "cause", as determined by the Company, the Option shall
thereafter be void for all purposes. As used in this subsection 5.3, "cause"
shall mean a violation, as determined by the Company, of the Company's
established policies and procedures.

                  (b) If the Option Holder becomes Disabled, the Option may be
exercised by the Option Holder within one year following the Option Holder's
termination of services on account of Disability (provided that such exercise
must occur within the Option Period), but not thereafter. In any such case, the
Option may be exercised only as to the shares as to which the Option had become
exercisable on or before the date of the Option Holder's termination of services
because of Disability.

                  (c) If the Option Holder dies during the Option Period while
still performing services for the Company or within the one year period referred
to in (b) above or the three-month period referred to in (d) below, the Option
may be exercised by those entitled to do so under the Option Holder's will or by
the laws of descent and distribution within one year following the Option
Holder's death, (provided that such exercise must occur within the Option
Period), but not thereafter. In any such case, the Option may be exercised only
as to the shares as to which the Option had become exercisable on or before the
date of the Option Holder's death.

                  (d) If the services of the Option Holder are terminated (which
for this purpose means that the Option Holder is no longer performing services
for the Company) by the Company within the Option Period for any reason other
than cause, Disability or the Option Holder's death, the Option may be exercised
by the Option Holder within three months following the date of such termination
(provided that such exercise must occur within the Option Period), but not
thereafter. In any such case, the Option may be exercised only as to the shares
as to which the Option had become exercisable on or before the date of
termination of services.

         5.4      Manner of Exercise.

                  (a) The method for exercising each Option granted hereunder
shall be by delivery to the Company of written notice specifying the number of
Shares with respect to which such Option is exercised. The purchase of such
Shares shall take place at the principal offices of the Company within thirty
days following delivery of such notice, at which time the Option Price of the
Shares shall be paid in full by any of the methods set forth below or a
combination thereof. A properly executed agreement representing the Shares shall
be delivered to or at the direction of the Option Holder upon payment therefore.
If Options on less than all shares evidenced by an Option Certificate are
exercised, the Company shall deliver a new Option Agreement evidencing the
Option on the remaining shares upon delivery of the Option Agreement for the
Option being exercised.

                  (b) The exercise price shall be paid by any of the following
methods or any combination of the following methods at the election of the
Option Holder, or by any other method approved by the Committee upon the request
of the Option Holder:

                                       6
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                  (i) in cash;

                  (ii) by certified, cashier's check or other check acceptable
         to the Company, payable to the order of the Company;

                  (iii) by delivery to the Company of Agreements or certificates
         representing the number of shares then owned by the Option Holder, the
         Fair Market Value of which equals the purchase price of the Stock
         purchased pursuant to the Option, properly endorsed for transfer to the
         Company; provided however, that no Option may be exercised by delivery
         to the Company of Agreements or certificates representing Stock, unless
         such Stock has been held by the Option Holder for more than six months;
         for purposes of this Plan, the Fair Market Value of any shares of Stock
         delivered in payment of the purchase price upon exercise of the Option
         shall be the Fair Market Value as of the exercise date; the exercise
         date shall be the day of delivery of the Agreements or certificates for
         the Stock used as payment of the Option Price; or

                  (iv) by delivery to the Company of a properly executed notice
         of exercise together with irrevocable instructions to a broker to
         deliver to the Company promptly the amount of the proceeds of the sale
         of all or a portion of the Stock sufficient to pay the exercise price
         or of a loan from the broker to the Option Holder required to pay the
         Option Price.

                  (c) Date of Grant. An Option shall be considered as having
         been granted on the date specified in the grant resolution of the
         Committee.

                  (d) Withholding.

                  (i) Non-Qualified Options. Upon exercise of an Option, the
         Option Holder shall make appropriate arrangements with the Company to
         provide for the amount of additional withholding required by Sections
         3102 and 3402 of the Code and applicable state income tax laws,
         including payment of such taxes through delivery of shares of Stock or
         by withholding Stock to be issued under the Option, as provided in
         Article IX.

                  (ii) Incentive Options. If an Option Holder makes a
         disposition (as defined in Section 424(c) of the Code) of any Stock
         acquired pursuant to the exercise of an Incentive Option prior to the
         expiration of two years from the date on which the Incentive Option was
         granted or prior to the expiration of one year from the date on which
         the Option was exercised, the Option Holder shall send written notice
         to the Company at the Company's principal place of business of the date
         of such disposition, the number of shares disposed of, the amount of
         proceeds received from such disposition and any other information
         relating to such disposition as the Company may reasonably request. The
         Option Holder shall, in the event of such a disposition, make
         appropriate arrangements with the Company to provide for the amount of
         additional withholding, if any, required by Sections 3102 and 3402 of
         the Code and applicable state income tax laws.

                                       7
<PAGE>

         5.5      Restrictions on Incentive Options.

                  (a) Initial Exercise. The aggregate Fair Market Value of the
Shares with respect to which Incentive Options are exercisable for the first
time by an Option Holder in any calendar year, under the Plan or otherwise,
shall not exceed $100,000. For this purpose, the Fair Market Value of the Shares
shall be determined as of the date of grant of the Option.

                  (b) Ten Percent Stockholders. Incentive Options granted to an
Option Holder who is the holder of record of 10% or more of the outstanding
Stock of the Company shall have an Option Price equal to 110% of the Fair Market
Value of the Shares on the date of grant of the Option and the Option Period for
any such Option shall not exceed five years.

         5.6 Shareholder Privileges. No Option Holder shall have any rights as a
shareholder with respect to any shares of Stock covered by an Option until the
Option Holder becomes the holder of record of such Stock, and no adjustments
shall be made for dividends or other distributions or other rights as to which
there is a record date preceding the date such Option Holder becomes the holder
of record of such Stock.

                                   ARTICLE VI
                             RESTRICTED STOCK AWARDS

         6.1 Grant of Restricted Stock Awards. Coincident with or following
designation for participation in the Plan, the Committee may grant a Participant
one or more Restricted Stock Awards consisting of Shares of Stock. The number of
Shares granted as a Restricted Stock Award shall be determined by the Committee.

         6.2 Restrictions. A Participant's right to retain a Restricted Stock
Award granted to him under Section 6.1 shall be subject to such restrictions,
including but not limited to his continuous employment by or performance of
services for the Company for a restriction period specified by the Committee or
the attainment of specified performance goals and objectives, as may be
established by the Committee with respect to such Award. In the event of the
death or Disability of a Participant, or the retirement of a Participant in
accordance with the Company's established retirement policy, all required
periods of service and other restrictions applicable to Restricted Stock Awards
then held by him shall lapse with respect to a pro rata part of each such Award
based on the ratio between the number of full months of employment or services
completed at the time of termination of services from the grant of each Award to
the total number of months of employment or continued services required for such
Award to be fully nonforfeitable, and such portion of each such Award shall
become fully nonforfeitable. The remaining portion of each such Award shall be
forfeited and shall be immediately returned to the Company. In the event of a
Participant's termination of employment or consulting services for any other
reason, any Restricted Stock Awards as to which the period for which services
are required or other restrictions have not been satisfied (or waived or
accelerated as provided herein) shall be forfeited, and all shares of Stock
related thereto shall be immediately returned to the Company.

                                       8
<PAGE>

         6.3 Privileges of a Stockholder, Transferability. A Participant shall
not posses or exercise any voting, dividend, liquidation or other rights with
respect to Stock granted under the Plan unless and until any restrictions issued
in connection with the Stock have been satisfied by the Participant. Upon the
satisfaction of those conditions, if any, the Participant shall be entitled to
exercise and possess voting, dividend, liquidation and other rights with respect
to the Stock in accordance with its terms received by the Participant under this
section.

         6.4 Enforcement of Restrictions. The Committee shall cause a legend to
be placed on the Stock Certificates issued pursuant to each Restricted Stock
Award referring to the restrictions provided by Sections 6.2 and 6.3 and, in
addition, may in its sole discretion require one or more of the following
methods of enforcing the restrictions referred to in Sections 6.2 and 6.3:

                  (a) Requiring the Participant to keep the Stock certificates,
duly endorsed, in the custody of the Company while the restrictions remain in
effect; or

                  (b) Requiring that the Stock certificates, duly endorsed, be
held in the custody of a third party while the restrictions remain in effect.

                                   ARTICLE VII
                                  STOCK BONUSES

         The Committee may award Stock Bonuses to such Participants, subject to
such conditions and restrictions, as it determines in its sole discretion. Stock
Bonuses may be either outright grants of Stock, or may be grants of Stock
subject to and conditioned upon certain employment or performance related goals.

                                  ARTICLE VIII
                            OTHER COMMON STOCK GRANTS

         From time to time during the duration of this Plan, the Board may, in
its sole discretion, adopt one or more incentive compensation arrangements for
Participants pursuant to which the Participants may acquire shares of Stock,
whether by purchase, outright grant, or otherwise. Any such arrangements shall
be subject to the general provisions of this Plan and all shares of Stock issued
pursuant to such arrangements shall be issued under this Plan.

                                   ARTICLE IX
                                   WITHHOLDING

         9.1 Withholding Requirement. The Company's obligations to deliver
shares of Stock upon the exercise of any Option, the vesting of any Restricted
Stock Award, or the grant of Stock shall be subject to the Participant's
satisfaction of all applicable federal, state and local income and other tax
withholding requirements.

                                        9
<PAGE>

                                    ARTICLE X
                               GENERAL PROVISIONS

         10.1 Service. Nothing contained in the Plan or in any Award, or other
Award granted under the Plan shall confer upon any Participant any right with
respect to the continuation of his employment by, or consulting relationship
with, the Company, or interfere in any way with the right of the Company,
subject to the terms of any separate employment agreement or other contract to
the contrary, at any time to terminate such services or to increase or decrease
the compensation of the Participant from the rate in existence at the time of
the grant of an Award. Whether an authorized leave of absence, or absence in
military or government service, shall constitute a termination of service shall
be determined by the Committee at the time.

         10.2 Nontransferability. No right or interest of any Participant in an
Option, a Restricted Stock Award (prior to the completion of the restriction
period applicable thereto), or other Award granted pursuant to the Plan, shall
be assignable or transferable during the lifetime of the Participant, either
voluntarily or involuntarily, or subjected to any lien, directly or indirectly,
by operation of law, or otherwise, including execution, levy, garnishment,
attachment, pledge or bankruptcy.

         10.3 Restricted Stock; Investment Representations. Unless previously
registered with the Securities and Exchange Commission, all Options, Stock and
other awards will be in the form of restricted securities, will be issued
pursuant to an exemption from the registration requirements of applicable
federal and state law and will be restricted from transfer by the recipient. The
Company may choose to register the securities in its sole and absolute
discretion, but shall have no obligation to do so. The Company may require any
person to whom an Option or Restricted Stock Award is granted, as a condition of
exercising such Option or receiving such Restricted Stock Award, to give written
assurances in substance and form satisfactory to the Company and its counsel to
the effect that such person is acquiring the Stock for his own account for
investment and not with any present intention of selling or otherwise
distributing the same, and to such other effects as the Company deems necessary
or appropriate in order to comply with Federal and applicable state securities
laws. Legends evidencing such restrictions may be placed on the Stock
Certificates.

         10.4 Compliance with Securities Laws. Each Option and Restricted Stock
Award grant shall be subject to the requirement that, if at any time counsel to
the Company shall determine that the listing, registration or qualification of
the shares subject to such Award grant upon any securities exchange or under any
state or federal law, or the consent or approval of any governmental or
regulatory body, is necessary as a condition of, or in connection with, the
issuance or purchase of shares thereunder, such Award may not be accepted or
exercised in whole or in part unless such listing, registration, qualification,
consent or approval shall have been effected or obtained on conditions
acceptable to the Committee. Nothing herein shall be deemed to require the
Company to apply for or to obtain such listing, registration or qualification.

                                       10

<PAGE>

         10.5 Withholding Requirement. The Company's obligations to deliver
shares of Stock upon the exercise of any Option, the vesting of any Restricted
Stock Award, or the grant of Stock shall be subject to the Participant's
satisfaction of all applicable federal, state and local income and other tax
withholding requirements.

         10.6 Duration. Unless sooner terminated by the Board of Directors, the
Plan shall terminate on June ___, 2013, and no Option, Restricted Stock Award,
other Award or Stock shall be granted, after such termination. Options,
Restricted Stock Awards and other Awards outstanding at the time of the Plan
termination may continue to be exercised, or become free of restrictions, or
paid, in accordance with their terms.

         10.7 Governing Law. The Plan and all agreements hereunder shall be
construed in accordance with and governed by the laws of the State of Colorado.

Dated:  June 6, 2003

                                           NEW FRONTIER ENERGY, INC.
ATTEST:

_________________________                   By: ________________________________
                                                Paul G. Laird, President

                                       11
<page>

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