Document:

EXHIBIT 4.4

                          CANWEST PETROLEUM CORPORATION
                             2005 STOCK OPTION PLAN

      A. 1. Purposes of and Benefits Under the Plan. This 2005 Stock Option Plan
(the "Plan") is intended to encourage stock ownership by employees, consultants,
officers and  directors of CanWest  Petroleum  Corporation  and its  controlled,
affiliated and subsidiary entities  (collectively,  the "Corporation"),  so that
they may acquire or increase their proprietary interest in the Corporation,  and
is intended to facilitate  the  Corporation's  efforts to: (i) induce  qualified
persons to become  employees,  officers and  directors  (whether or not they are
employees)  and  consultants  to the  Corporation;  (ii)  compensate  employees,
officers,  directors and consultants for services to the Corporation;  and (iii)
encourage  such  persons  to remain  in the  employ  of or  associated  with the
Corporation and to put forth maximum efforts for the success of the Corporation.
It is further intended that options granted by the Committee pursuant to Section
6 of this Plan shall  constitute  "incentive  stock options"  ("Incentive  Stock
Options")  within the meaning of Section 422 of the Internal  Revenue Code,  and
the regulations issued thereunder, and options granted by the Committee pursuant
to  Section  7 of this  Plan  shall  constitute  "non-qualified  stock  options"
("Non-qualified Stock Options"). "Options" means options granted pursuant to the
provisions of this Plan, whether Incentive Stock Options or Non-qualified  Stock
Options.

      2.  Definitions.  As used in this Plan,  the  following  words and phrases
shall have the meanings indicated:

            (a) "Board" shall mean the Board of Directors of the Corporation.

            (b)  "Bonus"  means any Common  Stock bonus  issued  pursuant to the
provisions of this Plan.

            (c) "Committee"  shall mean any Committee  appointed by the Board to
administer  this  Plan,  if one has been  appointed.  If no  Committee  has been
appointed, the term "Committee" shall mean the Board.

            (d)  "Common  Stock"  shall mean the  Corporation's  $.001 par value
common stock.

            (e) "Disability" shall mean a Recipient's inability to engage in any
substantial gainful activity by reason of any medically determinable physical or
mental  impairment that can be expected to result in death or that has lasted or
can be expected to last for a continuous  period of not less than 12 months.  If
the Recipient has a disability  insurance policy, the term "Disability" shall be
as defined therein.

            (f) "Fair Market Value" per share as of a particular date shall mean
the last sale price of the Corporation's  Common Stock as reported on a national
securities exchange or by NASDAQ, or if the quotation for the last sale reported
is not available for the Corporation's  Common Stock, the average of the closing
bid and asked  prices of the  Corporation's  Common  Stock as so reported or, if
such  quotations  are  unavailable,  the value  determined  by the  Committee in
accordance with its discretion in making a bona fide,  good faith  determination
of fair market value.  Fair Market Value shall be determined  without  regard to
any restriction other than a restriction  which, by its terms, never will lapse.
In the case of Options and Bonuses granted at a time when the  Corporation  does
not have a  registration  statement  in effect  relating to the shares  issuable
hereunder,  the value at which the Bonus shares are issued may be  determined by
the  Committee  at a reasonable  discount  from Fair Market Value to reflect the
restricted  nature of the shares to be issued and the inability of the Recipient
to sell those shares promptly.

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            (g)  "Recipient"  means any  person  granted  an Option or awarded a
Bonus hereunder.

            (h) "Internal  Revenue  Code" shall mean the United States  Internal
Revenue Code of 1986, as amended from time to time  (codified as Title 26 of the
United States Code) and any successor legislation.

      3. Administration.

            (a) The Plan shall be administered  by the Committee.  The Committee
shall have the authority in its discretion, subject to and not inconsistent with
the express  provisions of the Plan, to administer  the Plan and to exercise all
the powers  and  authorities  either  specifically  conferred  under the Plan or
necessary  or  advisable  in the  administration  of  the  Plan,  including  the
authority:  to grant Options and Bonuses;  to determine the vesting schedule and
other  restrictions,  if any, relating to Options and Bonuses;  to determine the
purchase price of the shares of Common Stock covered by each Option (the "Option
Price");  to  determine  the  persons  to whom,  and the time or times at which,
Options and Bonuses  shall be granted;  to determine  the number of shares to be
covered by each Option or Bonus;  to determine  Fair Market Value per share;  to
interpret  the Plan;  to  prescribe,  amend and  rescind  rules and  regulations
relating  to the Plan;  to  determine  the terms and  provisions  of the  Option
agreements (which need not be identical) entered into in connection with Options
granted under the Plan; and to make all other determinations deemed necessary or
advisable for the  administration of the Plan. The Committee may delegate to one
or more of its members or to one or more agents such administrative duties as it
may deem  advisable,  and the  Committee or any person to whom it has  delegated
duties as aforesaid may employ one or more persons to render advice with respect
to any responsibility the Committee or such person may have under the Plan.

            (b) Options and Bonuses granted under the Plan shall be evidenced by
duly adopted resolutions of the Committee included in the minutes of the meeting
at which they are adopted or in a unanimous written consent.

            (c) The Committee  shall  endeavor to administer  the Plan and grant
Options  and  Bonuses  hereunder  in  a  manner  that  is  compatible  with  the
obligations of persons subject to Section 16 of the U.S. Securities Exchange Act
of 1934 (the "1934 Act"),  although compliance with Section 16 is the obligation
of the Recipient, not the Corporation.  Neither the Committee, the Board nor the
Corporation  can assume any legal  responsibility  for a Recipient's  compliance
with his obligations under Section 16 of the 1934 Act.

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            (d) No member of the  Committee or the Board shall be liable for any
action taken or determination made in good faith with respect to the Plan or any
Option or Bonus granted hereunder.

      4. Eligibility.

            (a) Subject to certain  limitations  hereinafter set forth,  Options
and Bonuses may be granted to employees  (including officers) and consultants to
and  directors  (whether or not they are  employees) of the  Corporation  or its
present or future  divisions,  affiliates and  subsidiaries.  In determining the
persons to whom Options or Bonuses  shall be granted and the number of shares to
be covered by each Option or Bonus,  the  Committee  shall take into account the
duties of the respective persons,  their present and potential  contributions to
the success of the  Corporation,  and such other factors as the Committee  shall
deem relevant to accomplish the purposes of the Plan.

            (b) A Recipient  shall be eligible to receive more than one grant of
an Option or Bonus during the term of the Plan,  on the terms and subject to the
restrictions herein set forth.

      5. Stock Reserved.

            (a) The stock  subject  to Options  or  Bonuses  hereunder  shall be
shares of Common Stock.  Such shares, in whole or in part, may be authorized but
unissued  shares or shares that shall have been or that may be reacquired by the
Corporation.  The aggregate number of shares of Common Stock as to which Options
and  Bonuses  may be  granted  from time to time under the Plan shall not exceed
2,000,000, subject to adjustment as provided in Section 8(i) hereof.

            (b) If any Option  outstanding under the Plan for any reason expires
or is terminated  without having been exercised in full, or if any Bonus granted
is  forfeited  because of vesting or other  restrictions  imposed at the time of
grant,  the shares of Common Stock allocable to the unexercised  portion of such
Option  or the  forfeited  portion  of the  Bonus  shall  become  available  for
subsequent grants of Options and Bonuses under the Plan.

      6. Incentive Stock Options.

            (a)  Options  granted  pursuant  to this  Section 6 are  intended to
constitute Incentive Stock Options and shall be subject to the following special
terms and conditions,  in addition to the general terms and conditions specified
in Section 8 hereof.  Only  employees  of the  Corporation  shall be entitled to
receive Incentive Stock Options.

            (b) The aggregate  Fair Market Value  (determined as of the date the
Incentive Stock Option is granted) of the shares of Common Stock with respect to
which  Incentive  Stock  Options  granted  under  this and any other plan of the
Corporation or any parent or subsidiary of the  Corporation  are exercisable for
the first time by a Recipient during any calendar year may not exceed the amount
set forth in Section 422(d) of the Internal Revenue Code.

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            (c) Incentive  Stock Options granted under this Plan are intended to
satisfy all  requirements  for incentive  stock options under Section 422 of the
Internal Revenue Code and the Treasury Regulations  promulgated  thereunder and,
notwithstanding  any other  provision of this Plan,  the Plan and all  Incentive
Stock  Options  granted  under  it  shall  be so  construed,  and  all  contrary
provisions  shall be so  limited  in scope and effect  and,  to the extent  they
cannot be so limited, they shall be void.

      7. Non-qualified Stock Options. Options granted pursuant to this Section 7
are intended to constitute Non-qualified Stock Options and shall be subject only
to the general terms and conditions specified in Section 8 hereof.

      8. Terms and Conditions of Options.  Each Option  granted  pursuant to the
Plan shall be evidenced by a written Option  agreement  between the  Corporation
and the Recipient, which agreement shall be substantially in the form of Exhibit
A hereto as modified from time to time by the Committee in its  discretion,  and
which shall comply with and be subject to the following terms and conditions:

            (a) Number of Shares.  Each Option  agreement shall state the number
of shares of Common Stock covered by the Option.

            (b)  Type  of  Option.  Each  Option  Agreement  shall  specifically
identify the portion, if any, of the Option which constitutes an Incentive Stock
Option and the portion, if any, which constitutes a Non-qualified Stock Option.

            (c) Option Price. Subject to adjustment as provided in Section 8 (i)
hereof,  each  Option  agreement  shall state the Option  Price,  which shall be
determined by the Committee subject only to the following restrictions:

                  (1) Each Option Agreement shall state the Option Price,  which
(except as otherwise set forth in  paragraphs  8(c)(2) and (3) hereof) shall not
be less than 100% of the Fair Market Value per share on the date of grant of the
Option.

                  (2) Any  Incentive  Stock Option  granted  under the Plan to a
person  owning more than ten percent of the total  combined  voting power of the
Common  Stock shall be at a price of no less than 110% of the Fair Market  Value
per share on the date of grant of the Incentive Stock Option.

                  (3) Any  Non-qualified  Stock  Option  granted  under the Plan
shall be at a price determined and specified by the Board, which price may be an
amount  less  than the Fair  Market  Value per share on the date of grant of the
Non-qualified Stock Option.

                  (4) The  date on  which  the  Committee  adopts  a  resolution
expressly granting an Option shall be considered the day on which such option is
granted, unless a future date is specified in the resolution.

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            (d) Term of Option.  Each  Option  agreement  shall state the period
during and times at which the Option shall be  exercisable,  in accordance  with
the following limitations:

                  (1) The  date on  which  the  Committee  adopts  a  resolution
expressly granting an Option shall be considered the day on which such Option is
granted, unless a future date is specified in the resolution,  although any such
grant  shall  not be  effective  until  the  Recipient  has  executed  an Option
agreement with respect to such Option.

                  (2) The  exercise  period of any  Option  shall not exceed ten
years from the date of grant of the Option.

                  (3) Incentive  Stock  Options  granted to a person owning more
than ten percent of the total  combined  voting power of the Common Stock of the
Corporation shall be for no more than five years.

                  (4) The  Committee  shall have the  authority to accelerate or
extend the  exercisability of any outstanding Option at such time and under such
circumstances as it, in its sole discretion, deems appropriate. In any event, no
exercise period may be so extended to increase the term of the Option beyond ten
years from the date of the grant.

                  (5)  The   exercise   period   shall  be  subject  to  earlier
termination  as provided in Sections  8(f) and 8(g)  hereof,  and,  furthermore,
shall be terminated  upon  surrender of the Option by the holder thereof if such
surrender has been authorized in advance by the Committee.

            (e) Method of Exercise and Medium and Time of Payment.

                  (1) An Option may be  exercised  as to any or all whole shares
of Common Stock as to which it then is exercisable,  provided,  however, that no
Option may be  exercised as to less than 100 shares (or such number of shares as
to which the Option is then  exercisable  if such  number of shares is less than
100).

                  (2) Each exercise of an Option granted  hereunder,  whether in
whole or in part,  shall be effected by written  notice to the  Secretary of the
Corporation  designating  the  number of shares as to which the  Option is being
exercised,  and shall be  accompanied by payment in full of the Option Price for
the  number  of shares  so  designated,  together  with any  written  statements
required by, or deemed by the Corporation's counsel to be advisable pursuant to,
any applicable securities laws.

                  (3) The Option  Price  shall be paid in cash,  or in shares of
Common  Stock  having a Fair  Market  Value equal to such  Option  Price,  or in
property  or in a  combination  of cash,  shares and  property  and,  subject to
approval  of the  Committee,  may be  effected  in whole or in part  with  funds
received from the  Corporation  at the time of exercise as a  compensatory  cash
payment.

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                  (4) The Committee shall have the sole and absolute  discretion
to determine whether or not property other than cash or Common Stock may be used
to purchase the shares of Common Stock  hereunder  and, if so, to determine  the
value of the property received.

                  (5) The Recipient  shall make provision for the withholding of
taxes as required by Section 10 hereof.

            (f) Termination.

                  (1) Unless  otherwise  provided in the Option Agreement by and
between the  Corporation  and the  Recipient,  if the Recipient  ceases to be an
employee,  officer,  director or  consultant of the  Corporation  (other than by
reason of death,  Disability or retirement),  all Options theretofore granted to
such  Recipient  but not  theretofore  exercised  shall  terminate  three months
following the date the Recipient ceased to be an employee,  officer, director or
consultant of the Corporation,  and shall terminate upon the date of termination
of employment or other relationship if discharged for cause.

                  (2)  Nothing  in the Plan or in any  Option  or Bonus  granted
hereunder shall confer upon an individual any right to continue in the employ of
or other  relationship  with the  Corporation  or  interfere in any way with the
right of the  Corporation  to terminate  such  employment or other  relationship
between the individual and the Corporation.

            (g) Death,  Disability or Retirement of Recipient.  Unless otherwise
provided  in the  Option  Agreement  by and  between  the  Corporation  and  the
Recipient,  if a Recipient  shall die while an  employee,  officer,  director or
consultant of the  Corporation,  or within ninety days after the  termination of
such  Recipient  as an employee,  officer,  director or  consultant,  other than
termination for cause, or if the Recipient's  relationship  with the Corporation
shall terminate by reason of Disability or retirement,  all Options  theretofore
granted to such Recipient (whether or not otherwise  exercisable) unless earlier
terminated in accordance with their terms,  may be exercised by the Recipient or
by the Recipient's estate or by a person who acquired the right to exercise such
Options  by  bequest  or  inheritance  or  otherwise  by  reason of the death or
Disability  of the  Recipient,  at any time  within  one year  after the date of
death, Disability or retirement of the Recipient; provided, however, that in the
case of Incentive  Stock Options such one-year  period shall be limited to three
months in the case of retirement.

            (h) Transferability Restriction.

                  (1) Options  granted under the Plan shall not be  transferable
other than by will or by the laws of descent and  distribution  or pursuant to a
qualified  domestic  relations order as defined by the Internal  Revenue Code or
Title I of the Employee  Retirement  Income  Security Act of 1974,  or the rules
thereunder.  Options may be exercised  during the lifetime of the Recipient only
by the Recipient and thereafter only by his legal representative.

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                  (2) Any attempted sale, pledge,  assignment,  hypothecation or
other transfer of an Option contrary to the provisions hereof and/or the levy of
any execution,  attachment or similar process upon an Option,  shall be null and
void and  without  force or effect  and shall  result  in a  termination  of the
Option.

                  (3) (A) As a condition to the transfer of any shares of Common
Stock issued upon exercise of an Option granted under this Plan, the Corporation
may  require an opinion of  counsel,  satisfactory  to the  Corporation,  to the
effect that such transfer will not be in violation of the U.S. Securities Act of
1933,  as amended (the "1933 Act") or any other  applicable  securities  laws or
that such transfer has been  registered  under federal and all applicable  state
securities  laws. (B) Further,  the  Corporation  shall be authorized to refrain
from  delivering or  transferring  shares of Common Stock issued under this Plan
until the Committee  determines  that such delivery or transfer will not violate
applicable securities laws and the Recipient has tendered to the Corporation any
federal,  state or local tax owed by the Recipient as a result of exercising the
Option  or  disposing  of any  Common  Stock  when the  Corporation  has a legal
liability  to  satisfy  such tax.  (C) The  Corporation  shall not be liable for
damages due to delay in the  delivery or issuance of any stock  certificate  for
any reason whatsoever,  including, but not limited to, a delay caused by listing
requirements of any securities  exchange or any registration  requirements under
the 1933 Act, the 1934 Act, or under any other state, federal or provincial law,
rule or  regulation.  (D) The  Corporation  is under no  obligation  to take any
action or incur any  expense in order to  register  or qualify  the  delivery or
transfer  of shares of  Common  Stock  under  applicable  securities  laws or to
perfect any exemption from such registration or qualification.  (E) Furthermore,
the  Corporation  will not be liable to any  Recipient for failure to deliver or
transfer  shares of Common Stock if such failure is based upon the provisions of
this paragraph.

            (i) Effect of Certain Changes.

                  (1) If  there  is  any  change  in the  number  of  shares  of
outstanding Common Stock through the declaration of stock dividends,  or through
a  recapitalization  resulting in stock splits or  combinations  or exchanges of
such shares,  the number of shares of Common Stock available for Options and the
number of such shares covered by outstanding Options, and the exercise price per
share of the  outstanding  Options,  shall be  proportionately  adjusted  by the
Committee to reflect any increase or decrease in the number of issued  shares of
Common Stock; provided,  however, that any fractional shares resulting from such
adjustment shall be eliminated.

                  (2) In the event of the proposed dissolution or liquidation of
the Corporation,  or any corporate  separation or division,  including,  but not
limited to, split-up, split-off or spin-off, or a merger or consolidation of the
Corporation with another corporation,  the Committee may provide that the holder
of each Option then exercisable shall have the right to exercise such Option (at
its then current Option Price) solely for the kind and amount of shares of stock
and other securities,  property, cash or any combination thereof receivable upon
such dissolution,  liquidation,  corporate separation or division,  or merger or
consolidation by a holder of the number of shares of Common Stock for which such
Option  might  have  been  exercised  immediately  prior  to  such  dissolution,
liquidation,  corporate separation or division, or merger or consolidation;  or,
in the  alternative the Committee may provide that each Option granted under the
Plan shall  terminate as of a date fixed by the  Committee;  provided,  however,
that not less than 30 days'  written  notice of the date so fixed shall be given
to each  Recipient,  who shall  have the  right,  during  the  period of 30 days
preceding such termination,  to exercise the Option as to all or any part of the
shares of Common Stock covered thereby, including shares as to which such Option
would not otherwise be exercisable.

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                  (3)  Paragraph  2 of this  Section  8 (i) shall not apply to a
merger or  consolidation  in which the Corporation is the surviving  corporation
and  shares of Common  Stock are not  converted  into or  exchanged  for  stock,
securities  of  any  other  corporation,  cash  or any  other  thing  of  value.
Notwithstanding the preceding  sentence,  in case of any consolidation or merger
of another  corporation  into the  Corporation  in which the  Corporation is the
surviving  corporation  and in  which  there  is a  reclassification  or  change
(including  a change  to the right to  receive  cash or other  property)  of the
shares of Common Stock (excluding a change in par value, or from no par value to
par  value,  or any  change as a result of a  subdivision  or  combination,  but
including  any  change  in such  shares  into two or more  classes  or series of
shares),  the  Committee  may  provide  that  the  holder  of each  Option  then
exercisable shall have the right to exercise such Option solely for the kind and
amount  of shares of stock  and  other  securities  (including  those of any new
direct or indirect parent of the Corporation), property, cash or any combination
thereof receivable upon such reclassification,  change,  consolidation or merger
by the  holder of the  number of shares of Common  Stock for which  such  Option
might have been exercised.

                  (4) In the  event  of a  change  in the  Common  Stock  of the
Corporation  as  presently  constituted  into the same  number of shares  with a
different par value,  the shares  resulting from any such change shall be deemed
to be the Common Stock of the Corporation within the meaning of the Plan.

                  (5) To the extent  that the  foregoing  adjustments  relate to
stock or securities of the Corporation,  such  adjustments  shall be made by the
Committee,  whose  determination  in that  respect  shall be final,  binding and
conclusive,  provided that each Incentive Stock Option granted  pursuant to this
Plan  shall not be  adjusted  in a manner  that  causes  such  option to fail to
continue to qualify as an Incentive  Stock Option  within the meaning of Section
422 of the Internal Revenue Code.

                  (6) Except as  expressly  provided in this Section  8(i),  the
Recipient shall have no rights by reason of any subdivision or  consolidation of
shares of stock of any class,  or the payment of any stock dividend or any other
increase or decrease in the number of shares of stock of any class, or by reason
of any dissolution,  liquidation, merger, or consolidation or spin-off of assets
or stock of another  corporation;  and any issue by the Corporation of shares of
stock of any class, or securities convertible into shares of stock of any class,
shall not affect, and no adjustment by reason thereof shall be made with respect
to, the  number or price of shares of Common  Stock  subject  to an Option.  The
grant of an Option pursuant to the Plan shall not affect in any way the right or
power of the Corporation to make adjustments, reclassifications, reorganizations
or changes of its capital or business structures, or to merge or consolidate, or
to dissolve,  liquidate,  or sell or transfer all or any part of its business or
assets.

            (j) No Rights as Shareholder - Non-Distributive Intent.

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                  (1)  Neither a  Recipient  of an Option  nor such  Recipient's
legal  representative,  heir, legatee or distributee,  shall be deemed to be the
holder of, or to have any rights of a holder with respect to, any shares subject
to such Option until after the Option is exercised and the shares are issued.

                  (2) No  adjustment  shall be made for  dividends  (ordinary or
extraordinary,  whether in cash,  securities or other property) or distributions
or other  rights  for which  the  record  date is prior to the date  such  stock
certificate is issued, except as provided in Section 8(i) hereof.

                  (3) Upon  exercise  of an Option  at a time  when  there is no
registration  statement  in effect  under the 1933 Act  relating  to the  shares
issuable  upon  exercise,  shares  may be  issued to the  Recipient  only if the
Recipient  represents and warrants in writing to the Corporation that the shares
purchased  are  being  acquired  for  investment  and  not  with a  view  to the
distribution thereof and provides the Corporation with sufficient information to
establish an exemption  from the  registration  requirements  of the 1933 Act. A
form of subscription agreement containing  representations and warranties deemed
sufficient as of the date of adoption of this Plan is attached hereto as Exhibit
B.

                  (4) No shares  shall be issued upon the  exercise of an Option
unless and until  there  shall  have been  compliance  with any then  applicable
requirements  of the  U.S.  Securities  and  Exchange  Commission  or any  other
regulatory agencies having jurisdiction over the Corporation.

            (k) Other Provisions.  Option  Agreements  authorized under the Plan
may  contain  such other  provisions,  including,  without  limitation,  (i) the
imposition  of  restrictions  upon  the  exercise,  and  (ii) in the  case of an
Incentive  Stock Option,  the inclusion of any condition not  inconsistent  with
such Option qualifying as an Incentive Stock Option, as the Committee shall deem
advisable.

      9. Grant of Stock Bonuses.  In addition to, or in lieu of, the grant of an
Option, the Committee may grant Bonuses.

            (a) At the  time of grant of a Bonus,  the  Committee  may  impose a
vesting period of up to ten years,  and such other  restrictions  which it deems
appropriate.  Unless otherwise directed by the Committee at the time of grant of
a Bonus,  the Recipient  shall be considered a shareholder of the Corporation as
to the Bonus shares which have vested in the grantee at any time  regardless  of
any forfeiture provisions which have not yet arisen.

            (b) The grant of a Bonus and the  issuance and delivery of shares of
Common Stock pursuant thereto shall be subject to approval by the  Corporation's
counsel of all legal matters in connection therewith,  including compliance with
the  requirements  of the 1933 Act, the 1934 Act,  other  applicable  securities
laws,  rules and  regulations,  and the requirements of any stock exchanges upon
which the Common Stock then may be listed. Any certificates prepared to evidence
Common  Stock  issued  pursuant  to a Bonus  grant  shall  bear  legends  as the
Corporation's  counsel  may seem  necessary  or  advisable.  Included  among the
foregoing  requirements,  but without limitation,  any Recipient of a Bonus at a
time when a registration  statement  relating thereto is not effective under the
1933 Act shall execute a  Subscription  Agreement  substantially  in the form of
Exhibit B.

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      10. Agreement by Recipient  Regarding  Withholding  Taxes.  Each Recipient
agrees that the  Corporation,  to the extent permitted or required by law, shall
deduct a sufficient  number of shares due to the Recipient  upon exercise of the
Option  or the  grant  of a Bonus  to  allow  the  Corporation  to pay  federal,
provincial,  state and local  taxes of any kind  required  by law to be withheld
upon the  exercise  of such  Option or payment of such Bonus from any payment of
any kind otherwise due to the Recipient.  The Corporation shall not be obligated
to advise any  Recipient  of the  existence  of any tax or the amount  which the
Corporation will be so required to withhold.

      11. Term of Plan.  Options and Bonuses may be granted under this Plan from
time to time  within a period of ten years  from the date the Plan is adopted by
the Board.

      12. Amendment and Termination of the Plan.

            (a) (1) Subject to the policies, rules and regulations of any lawful
authority having  jurisdiction  (including any exchange with which the shares of
the Corporation are listed for trading), the Board of Directors may at any time,
without further action by the shareholders, amend the Plan or any Option granted
hereunder in such respects as it may consider  advisable and,  without  limiting
the  generality of the  foregoing,  it may do so to ensure that Options  granted
hereunder will comply with any provisions respecting stock options in the income
tax and other laws in force in any country or  jurisdiction  of which any Option
holders may from time to time be a resident  or  citizen,  or it may at any time
without action by shareholders terminate the Plan.

                  (2)  provided,  however,  that any amendment  that would:  (A)
materially  increase the number of securities issuable under the Plan to persons
who are subject to Section 16(a) of the 1934 Act; or (B) grant  eligibility to a
class of persons  who are  subject to Section  16(a) of the 1934 Act and are not
included within the terms of the Plan prior to the amendment;  or (C) materially
increase  the benefits  accruing to persons who are subject to Section  16(a) of
the  1934  Act  under  the  Plan;  or (D)  require  shareholder  approval  under
applicable  state law,  the rules and  regulations  of any  national  securities
exchange on which the Corporation's  securities then may be listed, the Internal
Revenue Code or any other  applicable  law,  shall be subject to the approval of
the shareholders of the Corporation as provided in Section 13 hereof.

                  (3) provided  further that any such  increase or  modification
that may result from adjustments  authorized by Section 8(i) hereof or which are
required  for  compliance  with the 1934 Act,  the Internal  Revenue  Code,  the
Employee  Retirement  Income Security Act of 1974,  their rules or other laws or
judicial order, shall not require such approval of the shareholders.

                                       10
<PAGE>

            (b)  Except  as  provided  in  Section  8  hereof,   no  suspension,
termination,  modification  or  amendment of the Plan may  adversely  affect any
Option  previously  granted,  unless the  written  consent of the  Recipient  is
obtained.

      13. Approval of Shareholders. The Plan shall take effect upon its adoption
by the Board but shall be subject to approval at a duly called and held  meeting
of  stockholders  in  conformance  with the vote  required by the  Corporation's
governing  documents,  resolution of the Board, any other applicable law and the
rules and regulations  thereunder,  or the rules and regulations of any national
securities  exchange  upon which the  Corporation's  Common  Stock is listed and
traded, each to the extent applicable.

      14.  Termination of Right of Action.  Every right of action arising out of
or in connection  with the Plan by or on behalf of the Corporation or any of its
subsidiaries,   or  by  any  shareholder  of  the  Corporation  or  any  of  its
subsidiaries against any past, present or future member of the Board, or against
any  employee,  or  by  an  employee  (past,  present  or  future)  against  the
Corporation or any of its subsidiaries, will, irrespective of the place where an
action may be brought and  irrespective  of the place of  residence  of any such
shareholder,  director or  employee,  cease and be barred by the  expiration  of
three  years from the date of the act or omission in respect of which such right
of action is alleged to have risen.

      15. Tax  Litigation.  The  Corporation  shall have the right,  but not the
obligation,   to  contest,   at  its  expense,   any  tax  ruling  or  decision,
administrative or judicial,  on any issue which is related to the Plan and which
the Board  believes to be important to holders of Options  issued under the Plan
and to conduct any such contest or any litigation  arising  therefrom to a final
decision.

      16. Adoption.

            (a) This Plan was approved by  resolution  of the Board of Directors
of the Corporation on March 12, 2005.

            (b)  If  this  Plan  is not  approved  by  the  shareholders  of the
Corporation  within 12 months of the date the Plan was  approved by the Board as
required by Section  422(b)(1) of the Internal  Revenue Code,  this Plan and any
Options granted hereunder to Recipients shall be and remain  effective,  but the
reference to  Incentive  Stock  Options  herein shall be deleted and all Options
granted  hereunder shall be  Non-qualified  Stock Options  pursuant to Section 7
hereof.

                                  [End of Plan]

                                       11
<PAGE>

                                                                       Exhibit A

                         FORM OF STOCK OPTION AGREEMENT

      STOCK OPTION AGREEMENT made as of this ___ day of ____________, ______, by
and  between  CanWest  Petroleum   Corporation,   a  Colorado  corporation  (the
"Corporation"),    and    ________________    __________________________    (the
"Recipient").

      In accordance with the Corporation's  2005 Stock Option Plan (the "Plan"),
the provisions of which are  incorporated  herein by reference,  the Corporation
desires,  in  connection  with the  services  of the  Recipient,  to provide the
Recipient with an opportunity to acquire shares of the  Corporation's  $.001 par
value common stock ("Common  Stock") on favorable terms and thereby increase the
Recipient's  proprietary  interest in the Corporation and incentive to put forth
maximum efforts for the success of the business of the Corporation.  Capitalized
terms used but not defined herein are used as defined in the Plan.

      NOW,  THEREFORE,  in  consideration  of the premises and mutual  covenants
herein set forth and other good and valuable consideration,  the Corporation and
the Recipient agree as follows:

      1.  Confirmation of Grant of Option.  Pursuant to a  determination  of the
Committee  or, in the absence of a  Committee,  by the Board of Directors of the
Corporation made on ___________,  _____ (the "Date of Grant"),  the Corporation,
subject  to the  terms  of the  Plan and of this  Agreement,  confirms  that the
Recipient  has been  irrevocably  granted  on the Date of Grant,  as a matter of
separate inducement and agreement,  and in addition to and not in lieu of salary
or other compensation for services, a Stock Option (the "Option") exercisable to
purchase  an  aggregate  of  ______  shares  of  Common  Stock on the  terms and
conditions  herein set forth,  subject to  adjustment as provided in Paragraph 8
hereof.

      2. Option Price. The Option Price of shares of Common Stock covered by the
Option will be $_____ per share (the "Option  Price")  subject to  adjustment as
provided in Paragraph 8 hereof.

      3. Vesting and Exercise of Option. (a) Except as otherwise provided herein
or in Section 8 of the Plan,  the Option [shall vest and become  exercisable  as
follows: (insert vesting schedule), provided, however, that no option shall vest
or become  exercisable unless the Recipient is an employee of the Corporation on
such vesting date/or may be exercised in whole or in part at any time during the
term of the  Option.]  (b) The Option may not be exercised at any one time as to
fewer than 100  shares (or such  number of shares as to which the Option is then
exercisable  if such  number of shares is less than 100).  (c) The Option may be
exercised by written notice to the Secretary of the  Corporation  accompanied by
payment in full of the Option Price as provided in Section 8 of the Plan.

<PAGE>

      4. Term of  Option.  The term of the Option  will be  through  __________,
____,  subject  to earlier  termination  or  cancellation  as  provided  in this
Agreement. The holder of the Option will not have any rights to dividends or any
other rights of a shareholder with respect to any shares of Common Stock subject
to the Option  until such  shares  shall have been issued (as  evidenced  by the
appropriate  transfer  agent of the  Corporation)  upon  purchase of such shares
through exercise of the Option.

      5.   Transferability   Restriction.   The  Option  may  not  be  assigned,
transferred  or  otherwise  disposed of, or pledged or  hypothecated  in any way
(whether by  operation of law or  otherwise)  except in strict  compliance  with
Section 8 of the Plan. Any assignment,  transfer, pledge, hypothecation or other
disposition  of the  Option  or any  attempt  to make  any  levy  of  execution,
attachment or other process will cause the Option to terminate  immediately upon
the happening of any such event; provided, however, that any such termination of
the Option  under the  provisions  of this  Paragraph 5 will not  prejudice  any
rights or  remedies  which the  Corporation  may have  under this  Agreement  or
otherwise.

      6.  Exercise Upon  Termination.  The  Recipient's  rights to exercise this
Option upon  termination  of  employment  or cessation of service as an officer,
director or consultant shall be as set forth in Section 8(f) of the Plan.

      7. Death,  Disability or Retirement of Recipient.  The  exercisability  of
this Option upon the death,  Disability or retirement of the Recipient  shall be
as set forth in Section 8(g) of the Plan.

      8.  Adjustments.  The  Option  shall be  subject  to  adjustment  upon the
occurrence of certain events as set forth in Section 8(i) of the Plan.

      9. No Registration  Obligation.  The Recipient understands that the Option
is not registered under the 1933 Act and, unless by separate written  agreement,
the Corporation has no obligation to so register the Option or any of the shares
of Common  Stock  subject  to and  issuable  upon the  exercise  of the  Option,
although  it may from  time to time  register  under  the  1933  Act the  shares
issuable upon exercise of Options  granted  pursuant to the Plan.  The Recipient
represents that the Option is being acquired for the Recipient's own account and
that unless registered by the Corporation,  the shares of Common Stock issued on
exercise of the Option will be acquired by the  Recipient  for  investment.  The
Recipient  understands that the Option is, and the underlying securities may be,
issued to the  Recipient  in reliance  upon  exemptions  from the 1933 Act,  and
acknowledges  and  agrees  that all  certificates  for the  shares  issued  upon
exercise  of the Option may bear the  following  legend  unless  such shares are
registered under the 1933 Act prior to their issuance:

            The shares  represented by this Certificate have not been registered
            under  the  Securities  Act  of  1933  (the  "1933  Act"),  and  are
            "restricted  securities"  as that term is  defined in Rule 144 under
            the 1933 Act.  The  shares  may not be  offered  for  sale,  sold or
            otherwise  transferred except pursuant to an effective  registration
            statement  under  the  1933 Act or  pursuant  to an  exemption  from
            registration  under the 1933 Act, the availability of which is to be
            established to the satisfaction of the Company.

                                       2
<PAGE>

      The  Recipient  further  understands  and  agrees  that the  Option may be
exercised  only if at the  time of  such  exercise  the  underlying  shares  are
registered  and/or the Recipient and the  Corporation  are able to establish the
existence of an exemption  from  registration  under the 1933 Act and applicable
state or other laws.

      10. Notices. Each notice relating to this Agreement will be in writing and
delivered in person or by certified mail to the proper  address.  Notices to the
Corporation  shall  be  addressed  to  the  Corporation,   attention:   Thornton
Donaldson,  President,  at such  address  as may  constitute  the  Corporation's
principal  place of business at the time,  with a copy to: Theresa M. Mehringer,
Esq.,  Burns,  Figa & Will,  P.C.,  6400 S. Fiddlers  Green Circle,  Suite 1030,
Englewood,  Colorado 80111.  Notices to the Recipient or other person or persons
then entitled to exercise the Option shall be addressed to the Recipient or such
other person or persons at the Recipient's  address below  specified.  Anyone to
whom a notice may be given under this  Agreement  may designate a new address by
notice to that effect given pursuant to this Paragraph 10.

      11.  Approval of Counsel.  The exercise of the Option and the issuance and
delivery of shares of Common Stock pursuant thereto shall be subject to approval
by the  Corporation's  counsel  of all legal  matters in  connection  therewith,
including  compliance  with the  requirements  of the 1933 Act,  the  Securities
Exchange Act of 1934, as amended,  applicable  state and other  securities laws,
the rules and  regulations  thereunder,  and the  requirements  of any  national
securities exchange(s) upon which the Common Stock then may be listed.

      12. Benefits of Agreement. This Agreement will inure to the benefit of and
be binding upon each successor and assignee of the Corporation.  All obligations
imposed upon the Recipient and all rights granted to the Corporation  under this
Agreement will be binding upon the Recipient's heirs, legal  representatives and
successors.

      13.  Effect of  Governmental  and Other  Regulations.  The exercise of the
Option and the  Corporation's  obligation  to sell and  deliver  shares upon the
exercise  of the Option are  subject to all  applicable  federal and state laws,
rules and  regulations,  and to such approvals by any regulatory or governmental
agency which may, in the opinion of counsel for the Corporation, be required.

      14.  Plan  Governs.  In the event  that any  provision  in this  Agreement
conflicts with a provision in the Plan, the provision of the Plan shall govern.

                                       3
<PAGE>

      Executed in the name and on behalf of the  Corporation  by one of its duly
authorized officers and by the Recipient all as of the date first above written.

                                       CANWEST PETROLEUM CORPORATION

Date ______________, _______           By:
                                          --------------------------------------
                                           Thornton Donaldson, President

      The  undersigned  Recipient  has read and  understands  the  terms of this
Option Agreement and the attached Plan and hereby agrees to comply therewith.

Date ______________, _______
                                       -----------------------------------------
                                       Signature of Recipient

                                       Tax ID Number:
                                                     ---------------------------

                                       Address:
                                                 -------------------------------

                                       -----------------------------------------

                                       4
<PAGE>

                                                                       Exhibit B

                             SUBSCRIPTION AGREEMENT

THE SECURITIES  BEING ACQUIRED BY THE UNDERSIGNED HAVE NOT BEEN REGISTERED UNDER
THE  U.S.  SECURITIES  ACT OF 1933 OR ANY  OTHER  LAWS  AND  ARE  OFFERED  UNDER
EXEMPTIONS  FROM THE  REGISTRATION  PROVISIONS  OF SUCH LAWS.  THESE  SECURITIES
CANNOT  BE SOLD,  TRANSFERRED,  ASSIGNED  OR  OTHERWISE  DISPOSED  OF  EXCEPT IN
COMPLIANCE  WITH  THE   RESTRICTIONS   ON  TRANSFER   CONTAINED  IN  THIS  STOCK
SUBSCRIPTION AGREEMENT AND APPLICABLE SECURITIES LAWS.

      This Subscription  Agreement is entered for the purpose of the undersigned
acquiring  _____________  shares  of the  $.001  par  value  common  stock  (the
"Securities")  of CanWest  Petroleum  Corporation,  a Colorado  corporation (the
"Corporation")  from the  Corporation  as a Bonus or  pursuant to exercise of an
Option  granted  pursuant  to the  Corporation's  2005  Stock  Option  Plan (the
"Plan").  All capitalized terms not otherwise defined herein shall be as defined
in the Plan.

      It is understood that no grant of any Bonus or exercise of any Option at a
time when no registration statement relating thereto is effective under the U.S.
Securities  Act of 1933, as amended (the "1933 Act") can be completed  until the
undersigned  executes  this  Subscription  Agreement  and  delivers  it  to  the
Corporation,  and that such grant or exercise is  effective  only in  accordance
with the terms of the Plan and this Subscription Agreement.

      In connection with the  undersigned's  acquisition of the Securities,  the
undersigned represents and warrants to the Corporation as follows:

      1. The  undersigned has been provided with, and has reviewed the Plan, and
such other  information as the undersigned may have requested of the Corporation
regarding its business, operations,  management, and financial condition (all of
which is referred to herein as the "Available Information").

      2. The  Corporation  has  given the  undersigned  the  opportunity  to ask
questions of and to receive  answers from  persons  acting on the  Corporation's
behalf  concerning  the  terms  and  conditions  of  this  transaction  and  the
opportunity to obtain any additional information regarding the Corporation,  its
business and  financial  condition  or to verify the  accuracy of the  Available
Information which the Corporation  possesses or can acquire without unreasonable
effort or expense.

      3.  The  Securities  are  being  acquired  by  the   undersigned  for  the
undersigned's own account and not on behalf of any other person or entity.

<PAGE>

      4. The undersigned  understands  that the Securities being acquired hereby
have not been registered  under the 1933 Act or any state or foreign  securities
laws, and are, and unless registered will continue to be, restricted  securities
within the meaning of Rule 144 of the General  Rules and  Regulations  under the
1933 Act and other statutes,  and the  undersigned  consents to the placement of
appropriate  restrictive  legends on any certificates  evidencing the Securities
and any certificates issued in replacement or exchange therefor and acknowledges
that the  Corporation  will  cause  its  stock  transfer  records  to note  such
restrictions.

      5. By the undersigned's execution below, it is acknowledged and understood
that the  Corporation  is relying upon the accuracy and  completeness  hereof in
complying with certain obligations under applicable securities laws.

      6. This Agreement binds and inures to the benefit of the  representatives,
successors and permitted assigns of the respective parties hereto.

      7. The undersigned  acknowledges that the grant of any Bonus or Option and
the issuance and delivery of shares of Common Stock  pursuant  thereto  shall be
subject to prior approval by the  Corporation's  counsel of all legal matters in
connection therewith, including compliance with the requirements of the 1933 Act
and other applicable securities laws, the rules and regulations thereunder,  and
the  requirements of any national  securities  exchange(s) upon which the Common
Stock then may be listed.

      8. The  undersigned  acknowledges  and  agrees  that the  Corporation  has
withheld ___________ shares for the payment of taxes as a result of the grant of
the Bonus or the exercise of an Option.

      9. The Plan is  incorporated  herein by  reference.  In the event that any
provision  in this  Agreement  conflicts  with ANY  provision  in the Plan,  the
provisions of the Plan shall govern.

Date: ______________, ______
                                       -----------------------------------------
                                       Signature of Recipient

                                       Tax ID Number:
                                                     ---------------------------

                                       Address:

                                               ---------------------------------

                                       2EXHIBIT 10.11

                            CANWEST ROYALTY AGREEMENT

DATED effective as of the 4th day of March, 2005.

BETWEEN:          EARTH ENERGY RESOURCES INC., a body corporate incorporated
                  under the laws of the Province of Alberta

                  ("Earth Energy")

                                     - and -

                  WEST PEAK VENTURES OF CANADA LTD., a body corporate
                  incorporated under the laws of Canada
                  ("West Peak")

                                     - and -

                  CANWEST PETROLEUM CORPORATION, a body corporate incorporated
                  under the laws of Colorado
                  ("Canwest")

      WHEREAS  Earth  Energy  and  West  Peak  have  entered  into  the  Licence
Agreement;

      AND WHEREAS West Peak has advised Earth Energy that it has assigned all of
West  Peak's  right,  title and  interest  in and to the  License  Agreement  to
Canwest;

      AND WHEREAS the parties wish to terminate the License Agreement,  together
with all rights,  liabilities and obligations thereunder and replace the License
Agreement with this Agreement.

      NOW   THEREFORE   IN   CONSIDERATION   of   the   covenants,   agreements,
representations,  warranties and indemnities contained herein and other good and
valuable consideration, the receipt and adequacy whereof is hereby acknowledged,
the parties hereby agree as follows:

                                    ARTICLE 1
                                 INTERPRETATION

1.1   Definitions

In this  Agreement  the  following  words and  terms  shall  have the  indicated
meanings  and  grammatical  variations  of  such  words  and  terms  shall  have
responding meanings:

      (a)   "Agreement" means this Canwest Royalty Agreement,  together with the
            Schedules  attached hereto and made part hereof,  as the same may be
            amended, supplemented or otherwise modified from time to time;

<PAGE>

      (b)   "Affiliate"  means,  with respect to a party hereto,  an entity that
            has an "affiliation" (as defined in the Securities Act (Alberta), as
            amended from time to time) with such party;

      (c)   "Business Day" means any day other than a day which is a Saturday, a
            Sunday,  a  statutory  holiday  or day on which  banks  in  Calgary,
            Alberta are not generally open for business;

      (d)   "Canwest Lands" means lands while the same are beneficially owned to
            a minimum of an undivided  fifteen (15%) percent interest by Canwest
            or a then Affiliate of Canwest,  and includes the lands set forth in
            Schedule "A" hereto, as amended from time to time;

      (e)   "Catalyst" means the chemical  formulation utilized for applications
            limited to the  extraction  of oil from surface  mines tar sands and
            oil shale and soil reclamation,  covered by patent applications: PCT
            CA04/001826  and Venezuela  0172/04,  both filed on or about October
            16, 2004, together with any Improvements thereto that:

            (i)   Earth  Energy  commercially  uses or makes  available to other
                  persons for commercial use (provided  such  Improvements  have
                  not been  developed  for such other  persons  on an  exclusive
                  basis); and

            (ii)  are  also   appropriate  for  use  in  optimizing   commercial
                  production of oil from specific  surface mines of tar sands or
                  oil  shale or soil  reclamation  that  constitute  part of the
                  Canwest Lands;

      (f)   "Catalyst  Costs"  means the actual cost to Earth  Energy to acquire
            the raw  components  and process the  Catalyst in  question,  plus a
            reasonable allocation of other costs and expenses associated with or
            attributable to such Catalyst and including:

            (i)   research and development costs;

            (ii)  overhead and general and administrative costs and expenses;

            (iii) advertising and marketing of the Catalyst;

            (iv)  transportation costs; and

            (v)   blending costs including labour;

      (g)   "Central  and  South  America"   means  the   geographic   territory
            encompassed by all countries and other  jurisdictions in the Western
            Hemisphere  south  of the  southernmost  border  of  Mexico  and for
            greater  clarification  not  including  any  of  the  Caribbean  Sea
            countries or territories;

      (h)   "Dispute" has the meaning attributed to it in Section 8.1;

      (i)   "Effective Date" means the date first above written;

      (j)   "Equipment"  means the  equipment to be used as part of the Catalyst
            process, together with any Improvements thereto that:

                                      -2-
<PAGE>

            (i)   Earth  Energy  commercially  uses or makes  available to other
                  persons for commercial  use (provided  such  equipment  and/or
                  Improvements  have not been  developed  for such persons on an
                  exclusive basis); and

            (ii)  are  also   appropriate  for  use  in  optimizing   commercial
                  production of oil from specific  surface mines of tar sands or
                  oil  shale or soil  reclamation  that  constitute  part of the
                  Canwest Lands;

      (k)   "Equipment  Cost"  means  the cost to  Earth  Energy  of  acquiring,
            building and/or  modifying,  as the case may be, of any Equipment to
            be supplied to Canwest hereunder, plus twenty five (25%) per cent;

      (l)   "Excluded  Persons"  means any four (4) entities  and such  entities
            Affiliates;  such four (4) entities to be designated by Earth Energy
            at any time and from time to time during the Term;

      (m)   "Excluded  Persons  Field of Use" means those types of commercial or
            business  activities  being  carried  out by each of the  respective
            Excluded  Persons  as at the date such  entity is  designated  as an
            Excluded Person hereunder;

      (n)   "GAAP" means generally accepted accounting principles as prescribed,
            recommended  or  promulgated  from  time  to  time  by the  Canadian
            Institute of Chartered Accountants as contained in the CCIA Handbook
            which are  applicable as at the date on which any  calculation  made
            hereunder  is to be  effective  and in  the  absence  of a  specific
            recommendation  contained  in the  CCIA  Handbook,  such  accounting
            principles as are generally accepted in practice;

      (o)   "Gross  Revenue"  means those  revenues  actually  received by Earth
            Energy from or through the use of the  Technology  for extraction of
            oil from  surface  mines of tar sands or oil shale,  as well as soil
            reclamation  (other  than  for  revenues  received  from or  through
            Canwest or any of the Excluded  Persons  from the  Excluded  Persons
            Field of Use), including:

            (i)   licensing  fees  from  persons  (other  than  Canwest  and the
                  Excluded  Persons from the Excluded  Persons  Field of Use) of
                  the use for the Technology;

            (ii)  the purchase  price for sales of  Equipment to persons  (other
                  than Canwest and the Excluded  Persons for use in the Excluded
                  Persons Field of Use);

            (iii) lease and license fees for leases and licenses of Equipment to
                  persons  (other than Canwest and the Excluded  Persons for use
                  in the Excluded Persons Field of Use);

            (iv)  fees for services  provided to persons (other than Canwest and
                  the Excluded  Persons for use in the Excluded Persons Field of
                  Use) relating to the Technology; and

            (v)   the sale of any  territory,  field of use or Technology or any
                  part thereof (other than to Canwest or any Excluded  Person in
                  connection with the Excluded Persons Field of Use),

                                      -3-
<PAGE>

                  less any refunds  provided  for  returns or defects,  shipping
                  costs,  insurance  costs and other usual  deductions  directly
                  related to revenues;

      (p)   "Improvements"  means any improvements,  modifications,  variations,
            refinements  or  additions  to  the  Technology   that  enhance  the
            production  of oil from  surface  mines of tar sands or oil shale or
            improves  the  results  of  soil  reclamation,  as the  same  may be
            applicable to the Canwest Lands;

      (q)   "License  Agreement"  means  that  License  Agreement  (Draft No. 6)
            between Earth Energy and West Peak, dated effective August 1, 2003;

      (r)   "Non-Disclosure and Non-Use Agreement" has the meaning attributed to
            it in Section 6.1;

      (s)   "Patents"  means all  current  and future  patents  and all  pending
            applications  (and including  patents which may issue as a result of
            such  pending  applications)  for  patents  of Earth  Energy  or any
            Affiliate  of  Earth  Energy  in  any  country,  including,  without
            limitation,  those specified in the definition of "Catalyst", to the
            extent  that  they  cover  inventions  relating  to the  Technology,
            including Improvements;

      (t)   "Process"  means the  processes  described  in the  Catalyst  patent
            applications  and  other  know-how  associated  with  the use of the
            Catalyst in  conjunction  with the Equipment to optimize  commercial
            production of oil, including all Improvements thereto;

      (u)   "Profits"  means the net profits of Earth  Energy in the  applicable
            jurisdiction  derived from the sale of Catalyst for use in tar sands
            separation by purchasers in the  jurisdiction  specified (other than
            for sales to Canwest and any Excluded Person for use in the Excluded
            Persons Field of Use),  the  calculation  of which shall include the
            deduction of all costs and expenses  associated with or attributable
            to such sales of Catalyst, including a reasonable allocation of:

            (i)   research and development costs;

            (ii)  direct costs and  expenses,  including  costs of raw materials
                  and processing of the Catalyst;

            (iii) overhead  and general and  administrative  costs and  expenses
                  incurred in the business relating to such sales of Catalyst;

            (iv)  advertising and marketing of the Catalyst,

                  and after  deduction of any loss carry  forward from  previous
                  years that has not already been deducted from any prior years'
                  profits;

      (v)   "Royalties"  means all royalties that may be payable by Earth Energy
            to Canwest pursuant to Sections 3.2, 3.3 and 3.4;

      (w)   "Royalty Rate" means, as applicable, an amount calculated as two and
            one-half (2.5%) percent of the Gross Revenue, or twelve and one-half
            (12.5%) percent of any Profits, as the case may be;

                                      -4-
<PAGE>

      (x)   "Services  Cost"  means  the  costs  and  expenses  of Earth  Energy
            associated with its provisions of technical advisory and supervision
            services  personnel to Canwest,  which costs and  expenses  shall be
            payable at then  current  market  rates for such  services  and also
            include all travel and  lodging  expenses  of such  personnel  while
            travelling to and from and performing such services;

      (y)   "Technology"  means the  Catalyst,  the  Equipment  and the  Process
            and/or any combination thereof; and

      (z)   "Term" means the term of this Agreement as set forth in Section 7.1.

1.2   Schedules

The following schedules are annexed to this Agreement and form a part hereof:

      Schedule "A"   List of Canwest Lands as at Effective Date

      Schedule "B"   Form of Non-Disclosure and Non-Use Agreement

1.3   Construction

In this Agreement, unless otherwise expressly stated:

      (a)   references  to a "party" or "parties"  are  references to a party or
            parties to this  Agreement,  and  references to "herein",  "hereby",
            "hereunder", "hereof" and similar expressions are references to this
            Agreement and not to any particular  Article,  Section,  subsection,
            clause or Schedule;

      (b)   references to an  "Article",  "Section",  "subsection",  "clause" or
            "Schedule" are references to an Article, Section, subsection, clause
            or Schedule of or to this Agreement;

      (c)   references to dollar  amounts are  references  to Canadian  dollars,
            unless otherwise specified;

      (d)   words  importing  the  singular  shall  include  the plural and vice
            versa, words importing gender shall include the masculine,  feminine
            and neuter genders,  and references to a "person" or "persons" shall
            include  individuals,  corporations,   partnerships,   associations,
            bodies politic and other  entities,  all as may be applicable in the
            context;

      (e)   the table of contents and the use of headings is for  convenience of
            reference   only  and  shall  not   affect   the   construction   or
            interpretation hereof;

      (f)   the words  "include,"  "includes" and  "including"  when used herein
            shall be deemed in each case to be  followed  by the words  "without
            limitation";

      (g)   where  a word  or  phrase  is  defined,  its  derivatives  or  other
            grammatical forms have a corresponding meaning;

      (h)   references to a statute, regulation or other legal enactment include
            all of its amendments and re-enactments; and

      (i)   time is of the essence.

                                      -5-
<PAGE>

1.4   Choice of Law

This Agreement,  and each of the documents contemplated by or delivered under or
in connection  with this  Agreement (to the extent no choice of law is specified
therein),  shall be governed by and construed in accordance with the laws of the
Province of Alberta and the federal laws of Canada  applicable  therein (without
reference to conflicts of laws principles).

1.5   Interpretation Not Affected by Party Drafting

The parties hereto acknowledge that their respective legal counsel have reviewed
and participated in settling the terms of this Agreement, and the parties hereby
agree that any rule of  construction  to the effect that any  ambiguity is to be
resolved   against  the  drafting   party  shall  not  be   applicable   in  the
interpretation of this Agreement.

                                    ARTICLE 2
                        TERMINATION OF LICENSE AGREEMENT

2.1   Confirmation of Assignment

West Peak hereby represents and warrants (and acknowledges that Earth Energy and
Canwest are relying upon such  representations  and  warranties in entering into
this Agreement) that:

      (a)   West Peak has assigned  all of its right,  title and interest in and
            to the License Agreement to Canwest;

      (b)   West Peak retains no interest in or under the License Agreement;

      (c)   Earth Energy may deal solely with Canwest in connection with any and
            all matters relating to the License Agreement; and

      (d)   West Peak is not aware of anyone other than Canwest having any claim
            under nor has any person  made any demand in  connection  with,  the
            License Agreement.

2.2   Canwest Representations and Warranties

Canwest hereby  represents and warrants to Earth Energy (and  acknowledges  that
Earth Energy is relying upon such  representations  and  warranties  in entering
into this Agreement) that as of the Effective Date:

      (a)   Canwest is a  corporation  in good  standing  and has the  requisite
            capacity,  power and  authority  to execute  this  Agreement  and to
            perform its obligations  hereunder  without seeking or obtaining the
            consent of any other person;

      (b)   Canwest has not disposed,  purported to dispose nor entered into any
            discussions  with any third  person to dispose  of any of  Canwest's
            rights  or  interests  under  or  in  connection  with  the  License
            Agreement  and it has good title to the  License  Agreement  and all
            rights  thereunder  and every  part  thereof,  free and clear of all
            encumbrances,   liens,   charges,   mortgages,   pledges,   security
            interests,   claims,   preferential  rights  of  purchase,  options,
            royalties,  or other third  person  interests  or rights of any kind
            whatsoever;

      (c)   Canwest has not  sub-licensed any rights under or in connection with
            the License  Agreement  nor  entered  into any  agreements  or other
            obligations with any third person with respect thereto;

                                      -6-
<PAGE>

      (d)   there are no unsatisfied judgments,  claims,  proceedings,  actions,
            governmental  investigations or lawsuits in existence,  contemplated
            or  threatened  against or with respect to the License  Agreement or
            the  rights or  obligations  of  Canwest  thereunder  or  otherwise,
            directly or indirectly, in connection therewith; and

      (e)   no consideration of any kind,  actual or contingent,  was paid or is
            owing or may be owing to any person for the  transfer of West Peak's
            interest in the License Agreement to Canwest.

2.3   Earth Energy Representations and Warranties

Earth Energy hereby  represents and warrants to Canwest (and  acknowledges  that
Canwest is relying upon such  representations  and  warranties  in entering into
this Agreement) that as of the Effective Date:

      (a)   Earth Energy is a corporation in good standing and has the requisite
            capacity,  power and  authority  to execute  this  Agreement  and to
            perform its obligations  hereunder  without seeking or obtaining the
            consent of any other person;

      (b)   Earth Energy has not disposed, purported to dispose nor entered into
            any  discussions  with any third  person to  dispose of any of Earth
            Energy's rights or interests under or in connection with the License
            Agreement  or the  Catalyst  and it has good  title  to the  License
            Agreement and all rights thereunder and every part thereof, free and
            clear  of all  encumbrances,  liens,  charges,  mortgages,  pledges,
            security  interests,   claims,   preferential  rights  of  purchase,
            options, royalties, or other third person interests or rights of any
            kind whatsoever;

      (c)   there are no unsatisfied judgments,  claims,  proceedings,  actions,
            governmental  investigations or lawsuits in existence,  contemplated
            or  threatened  against or with respect to the License  Agreement or
            the rights or obligations  of Earth Energy  thereunder or otherwise,
            directly or indirectly, in connection therewith;

      (d)   since August 12, 2003,  there have been no  circumstances  or events
            which would,  as of the date hereof,  constitute a material  adverse
            change in the business, affairs or operations of Earth Energy; and

      (e)   that all material  results from testing of the Catalyst prior to the
            Effective Date have been provided to Canwest or West Peak.

2.4   Termination of License Agreement

Except as set forth herein, the License Agreement and all rights and obligations
thereunder or in connection therewith,  including any obligations or liabilities
that have or may have accrued and remain  outstanding  before the Effective Date
and/or that accrue on or after the Effective Date, are all hereby terminated and
at an end.  Subject to Section 2.5, to the extent any payments or other benefits
have been  received by a party to the License  Agreement  prior to the Effective
Date,  the  receiving  party shall be entitled to retain the benefit  therefrom,
without further  compensation to the party so paying or providing the payment or
benefit, as the case may be.

                                      -7-
<PAGE>

2.5   Partial Survival of License Agreement

The parties acknowledge that notwithstanding the foregoing,  Section 2.10 of the
Licensing  Agreement  shall  continue  in full force and effect in so far as any
payments are made or have been made, directly or indirectly,  by Canwest to West
Peak for  transfer  by West  Peak of its  interests  in the  License  Agreement,
provided that Earth Energy may seek compensation with respect to what is owed to
it under Section 2.10 of the Licensing  Agreement  only from Canwest and Canwest
agrees to make such payment to Earth Energy.

2.6   Mutual Release

Each party for themselves and their respective principals and agents,  including
present  and  future  directors,  officers  and  employees  (collectively,   the
"Releasors" and  individually a "Releasor")  hereby remise,  release and forever
discharge each of the other parties hereto and their  respective  principals and
agents,   including  present  and  future  directors,   officers  and  employees
(collectively,  the "Releasees" and  individually a "Releasee") from any and all
matters of action and actions,  cause and causes of action, suits, dues, sums of
money,  claims and  demands  whatsoever  at law or in equity,  by contract or by
statute,  which each Releasor or any combination of Releasors ever had, now has,
or can,  shall,  or may hereafter  have, for or by reason of any act,  omission,
matter,  cause or thing  whatsoever  relating  to or arising  out of in any way,
directly or  indirectly,  the License  Agreement or termination  thereof,  other
than:

      (a)   for any payments by Canwest which are subject to Section 2.5; and

      (b)   any matters expressly set forth herein.

2.7   West Peak and Canwest Indemnity

West Peak and Canwest each agrees to indemnify  and save  harmless  Earth Energy
from and  against  any  claims,  demands,  actions,  causes of action,  damages,
losses,  costs,  liabilities  and expenses which may be made or brought  against
Earth  Energy or which  Earth  Energy  may  suffer  or incur as a result  of, in
respect of or arising out of:

      (a)   third  person  claims,  with  the  exception  of  those  related  to
            intellectual property infringement in connection with the use of the
            Technology,  arising, directly or indirectly, under or in connection
            with the License  Agreement  or by virtue of or through  West Peak's
            and/or Canwest's rights thereunder;

      (b)   any  non-performance,  non-fulfillment  or breach of any covenant or
            agreement  on the  part  of  West  Peak  or  Canwest,  respectively,
            contained in this  Agreement or in any document  given in connection
            herewith in order to carry out the transactions contemplated hereby;

      (c)   any  misrepresentation,  inaccuracy,  incorrectness or breach of any
            representation   or   warranty   made  by  West  Peak  or   Canwest,
            respectively,  contained in this  Agreement or in any document given
            in  connection  herewith  in  order to  carry  out the  transactions
            contemplated hereby; and

      (d)   all costs and expenses,  including legal fees on a solicitor and his
            own client basis, incidental to or in respect of the foregoing.

                                      -8-
<PAGE>

2.8   Earth Energy Indemnity

Earth Energy agrees to indemnify and save harmless each of Canwest and West Peak
from and  against  any  claims,  demands,  actions,  causes of action,  damages,
losses, costs,  liabilities and expenses which may be made or brought against it
or which it may suffer or incur as a result of, in respect of or arising out of:

      (a)   any  non-performance,  non-fulfillment  or breach of any covenant or
            agreement on the part of Earth Energy contained in this Agreement or
            in any document  given in connection  herewith in order to carry out
            the transactions contemplated hereby;

      (b)   any  misrepresentation,  inaccuracy,  incorrectness or breach of any
            representation  or warranty  made by Earth Energy  contained in this
            Agreement or in any document  given in connection  herewith in order
            to carry out the transactions contemplated hereby;

      (c)   third person claims of intellectual  property  infringement relating
            to the use of the Technology and arising, directly or indirectly, in
            connection  with the  exercise by Canwest  and/or West Peak of their
            respective rights hereunder or under the License Agreement, provided
            that Earth Energy shall be given prompt notice of such claim and the
            sole right to defend and settle same; and

      (d)   all costs and expenses,  including legal fees on a solicitor and his
            own client basis, incidental to or in respect of the foregoing.

2.9   Ownership of Improvements

Earth Energy shall own all Improvements. Canwest acknowledges and agrees that it
is  not  entitled  to  develop  and  shall  not  undertake  development  of  any
Improvements  without the prior written  consent of Earth Energy.  To the extent
any  Improvements  do become  vested in  Canwest,  through  operation  of law or
otherwise,  Canwest  shall  hold the same in trust  for and on  behalf  of Earth
Energy and forthwith upon the request of Earth Energy, transfer and assign title
thereto to Earth Energy.

                                   ARTICLE 3
                         GRANT OF LICENSE AND ROYALTIES

3.1   Grant of License

Earth  Energy,  warranting  that it has the  right to do so,  hereby  grants  to
Canwest a limited license to:

      (a)   use and practice the Technology; and

      (b)   sell the oil removed from  surface  mined tar sands and/or oil shale
            originating from the Canwest Lands,

as  limited  by the terms of this  Agreement  and to the  extent  necessary  for
Canwest to exercise its rights hereunder.

3.2   Canadian Royalties

Subject to Section 3.4,  Earth Energy shall pay Canwest a royalty at the Royalty
Rate on all Gross  Revenues and Profits  generated from use of the Technology in
Canada and sales of Catalyst for use in Canada during the Term.

                                      -9-
<PAGE>

3.3   Central and South American Royalties

For  consideration of Five Hundred Thousand United States Dollars ($500,000 USD)
which  must be paid in full  prior  to the end of the  Term,  Canwest  shall  be
entitled to and Earth  Energy  shall pay to Canwest,  subject to Section  3.4, a
royalty at the Royalty Rate on all Gross Revenue and Profits  generated from use
of the  Technology in Central and South America and sales of Catalyst for use in
Central and South America  during the Term. In the event that Canwest  elects to
exercise  its right to receive  Royalties  under this  Section  3.3, it may make
payment of the $500,000USD  consideration  through set-off and forfeiture of the
first $500,000USD in Royalties owing to it.

3.4   Excluded Persons and Excluded Persons Royalty

In order for a person to be  considered  an  Excluded  Person  hereunder,  Earth
Energy  shall  provide  written  notice in advance to Canwest of the identity of
such  person  and the  fact  that as and from  the  date of such  notice,  until
otherwise determined,  they shall be considered an Excluded Person. In the event
any of the Excluded Persons carries on any commercial and business activities in
Canada using the  Technology  other than in the Excluded  Person's  Field of Use
(which, for greater certainty,  is royalty free), then Earth Energy shall pay to
Canwest a royalty  calculated at one-half (1/2) of the Royalty Rate on all Gross
Revenues  related to such other  activities  and  Profits  related to such other
activities earned by Earth Energy during the Term.

3.5   Payment of Royalties

All Royalties earned by Canwest during any fiscal quarter of Earth Energy during
the Term shall be paid  quarterly by Earth Energy to Canwest  within thirty (30)
days of the end of such quarter or, if such day is not a Business  Day, then the
next  succeeding  Business  Day  thereafter.  Earth  Energy shall be entitled to
set-off  from any Royalty  payments any amounts  owing to it by Canwest.  Within
thirty (30) days of completion of its annual financial statements,  Earth Energy
shall make a final  calculation  of all Royalties paid by it during the year and
shall make whatever adjustments are necessary and shall provide a report of same
to  Canwest.  In the event of an  adjustment,  the owing  party  shall  make the
necessary  payment to the other party within fourteen (14) days from the date of
notification of the adjustment.

3.6   Royalty Reports

Contemporaneously  with payment of Royalties or, if no Royalties are payable for
any  quarter,  then no later than the due date for  Royalties  had the same been
payable,  Earth Energy shall provide a written  report to Canwest  detailing how
Royalties  were  calculated  and  including  such  information  as  Canwest  may
reasonably request in connection therewith.

3.7   GAAP

All Catalyst Costs,  Equipment Costs, Service Costs,  Royalties,  Gross Revenue,
Profits and other financial amounts set forth herein shall, wherever reasonable,
be  calculated  using GAAP,  and Earth Energy shall keep all relevant  books and
records  relating  thereto  in  sufficient  detail to permit an  accurate  audit
thereof.

3.8   Audit Rights

No more than once per fiscal  quarter of Earth Energy  during the Term,  Canwest
shall have the right on reasonable  advance notice to Earth Energy, to attend at
Earth Energy's premises (if necessary) during regular business hours on Business
Days and to audit Earth Energy's  relevant books and records solely for purposes
of confirming an accurate calculation of Royalties.  The costs of any such audit
shall be bourne by and paid for by  Canwest,  unless it is  determined  that the
Royalties  audited  were  underpaid  by Earth Energy at least ten (10%) per cent
less than what was actually  owing for such period,  in which event Earth Energy
shall  pay such  audit  costs,  together  with the full  amount  of the  Royalty
shortfall.

                                      -10-
<PAGE>

3.9   Taxes

All payments to be made hereunder are subject to all applicable taxes, including
sales,  GST, VAT and any withholding taxes that may be applicable on any part of
the transactions  contemplated hereby. Each party represents and warrants to the
other that as of the  Effective  Date it is a resident of Canada for purposes of
the Income Tax Act (Canada).

                                    ARTICLE 4
                                  CANWEST LANDS

4.1   Catalyst Supply

Canwest may, at its  discretion,  elect to pay Earth  Energy  Three  Hundred and
Fifty  Thousand  Canadian  Dollars  ($350,000  CDN) for the  right  to  purchase
Catalyst at Catalyst Cost. If Canwest so elects,  during the Term, Canwest shall
be entitled  to purchase  from Earth  Energy  Catalyst at Catalyst  Cost for use
solely and exclusively on Canwest Lands for extraction of oil from surface mines
tar sands and oil shale as well for soil  reclamation of soil  originating  from
such Canwest Lands. For greater clarification,  Canwest shall not be entitled to
process  soil of, from or for third  parties at  Catalyst  Cost and in order for
soil to be  considered as  originating  from Canwest  Lands,  it shall have been
originally  excavated from such Canwest Lands and not stored or moved there from
some other lands.

4.2   Supply of Equipment

Earth Energy shall supply all  necessary  Equipment to Canwest and Canwest shall
acquire from Earth Energy all Equipment needed for use on the Canwest Lands, all
at Equipment Cost. Earth Energy agrees to train Canwest  personnel on the proper
and efficient use of the Equipment at Services Cost.

4.3   Earth Energy Services

Any use of the  Catalyst  at or on Canwest  Lands  shall  only  occur  under the
technical supervision of Earth Energy, in part to ensure compliance with Section
4.1.  All such  supervision  services  shall be paid for by Canwest at  Services
Cost.

4.4   Catalyst and Services Payments

Canwest  shall pay Earth Energy in full within forty five (45) days of invoicing
for all Catalyst  purchased by it and services  provided to it. Where there is a
bona fide  dispute on any amount  invoiced,  Canwest  shall be entitled  only to
withhold  the  amount in  dispute  and in such  event  the  parties  shall  work
expeditiously  and in good faith to resolve  such  dispute.  Any late payment to
Earth Energy not in accordance with the foregoing shall:

      (a)   entitle Earth Energy,  at its option,  to suspend supply of Catalyst
            and/or services to Canwest; and

      (b)   accrue interest at the rate of the prime commercial  lending rate of
            the CIBC bank plus 4% per annum, compounded annually,

                                      -11-
<PAGE>

until such time as such late payments and all accrued interest thereon have been
paid in full.

                                   ARTICLE 5
                         ASSIGNMENT & TRANSFER OF RIGHTS

5.1   Offer To Sell Royalty Rights

If  Canwest  desires  to  dispose,  except  to  an  Affiliate,   (the  "Proposed
Disposition") of any of its rights,  obligations or interests under Sections 3.2
to 3.8 (the "Offered Rights") hereunder, it shall first offer the Offered Rights
for sale to Earth Energy in accordance with Sections 5.1 to 5.5, inclusive.

5.2   Transfer Notice

Canwest shall give a written notice (the "Offer  Notice") to Earth Energy of its
intention to sell the Offered Rights. The Offer Notice shall set out:

      (a)   the specific  interests and, if  applicable,  obligations of Canwest
            that comprise the Offered Rights;

      (b)   reasons for the Proposed Disposition; and

      (c)   all the fundamental terms of the Proposed Disposition, including the
            purchase price, the nature of  consideration,  the time within which
            the Proposed  Disposition  shall close, and any other material terms
            of the Proposed Disposition.

5.3   Purchase Notice

Earth Energy shall have fifteen (15)  Business  Days (the  "Acceptance  Period")
following  receipt of the Offer  Notice,  to elect to purchase all (but not less
than all) of the Offered Rights upon the terms  contained in the Offer Notice by
giving  written  notice  (the  "Offer  Purchase  Notice")  to Canwest  accepting
Canwest's offer as contained in the Offer Notice.

5.4   Failure To Purchase

If Earth Energy does not give the Offer  Purchase  Notice to Canwest  within the
Acceptance  Period or it fails to close as  contemplated  in Section  5.5,  then
Canwest may  negotiate  with and sell to a bona fide third party  purchaser  the
Offered Rights on terms which shall not be more  favourable to such purchaser in
any respect  than those  specified in the Offer Notice and Earth Energy shall be
deemed  to have  consented  to such  assignment  of  rights.  If no such sale is
consummated with ninety (90) days following the end of the Acceptance Period, or
the date on which Earth Energy failed to close as  contemplated  in Section 5.5,
as applicable,  the rights of Earth Energy  provided for in this Article 5 shall
revive in all respects.  If Canwest  completes a sale of the Offered Rights to a
third  party in  accordance  with the terms  hereof,  it shall  provide to Earth
Energy,  and shall obtain  enduring  covenants  from such third party  purchaser
prior  to  the  completion  of  such  sale  to  provide  to  Earth  Energy,  all
documentation  and  other  information  requested  by  Earth  Energy  for  it to
determine,  in its sole  satisfaction,  acting  reasonably,  all the  terms  and
conditions relating to such sale.

                                      -12-
<PAGE>

5.5   Closing

It shall be a condition  of the  closing of the  Proposed  Disposition  to Earth
Energy for the benefit of Earth  Energy,  that Canwest has good right and lawful
authority to sell the Offered Rights free and clear of all liens,  encumbrances,
charges, security interests, rights, claims and of any kind whatsoever.

5.6   Offer to Purchase Royalty Rights

If Canwest  receives an offer to  purchase  (the  "Offer")  all or a part of its
rights,  obligations  or interests  under  Sections  3.2 to 3.8 (the  "Solicited
Rights")  from a bona fide third  party  offeror  (the  "Offeror")  and  Canwest
desires to sell such Solicited Rights (the "Proposed Acceptance") it shall first
offer the Solicited  Rights to Earth Energy in  accordance  with Sections 5.6 to
5.10, inclusive.

5.7   Solicitation Transfer Notice

Canwest  shall give a written  notice (the  "Solicitation  Transfer  Notice") to
Earth Energy of its Proposed  Acceptance,  which  Solicitation  Transfer  Notice
shall set out:

      (a)   the specific rights and, if applicable,  obligations of Canwest that
            comprise the Solicited Rights;

      (b)   all the  fundamental  terms of the  Offer and  Proposed  Acceptance,
            including the purchase price, nature of the consideration,  the time
            within which the  purchase and sale shall take place,  and any other
            material terms of the Offer and Proposed Acceptance;

      (c)   the name and address of the Offeror  together  with an executed copy
            of such Offer; (d) all documentation and other information requested
            by  Earth  Energy  necessary  for  it  to  determine,  to  its  sole
            satisfaction,  acting  reasonably,  that the  Offer is bona fide and
            that the  Offeror  has the means to  complete  the  purchase  of the
            Solicited Rights and make payment therefor; and

      (e)   confirmation  from the  Offeror  that its Offer is  subject  to this
            Agreement.

5.8   Solicitation Purchase Notice

Earth  Energy  shall  have  the  right  for  fifteen  (15)  Business  Days  (the
"Solicitation Acceptance Period") following receipt of the Solicitation Transfer
Notice, to elect to purchase all (but not less than all) of the Solicited Rights
upon the terms  contained in the  Solicited  Transfer  Notice by giving  written
notice (the  "Solicitation  Purchase  Notice") to Canwest accepting the offer of
Canwest contained in the Solicitation Transfer Notice.

5.9   Failure To Purchase

If Earth Energy does not give to Canwest a Solicitation  Purchase  Notice within
the  Solicitation  Acceptance  Period or if the sale of the Solicited  Rights to
Earth Energy fails to close as  contemplated  in Section 5.10,  then Canwest may
complete  the  sale of the  Solicited  Rights,  but not  more or less  than  the
Solicited Rights, to the Offeror on terms no more favourable in any respect than
those  specified in the  Solicitation  Transfer Notice and Earth Energy shall be
deemed  to have  consented  to such  assignment  of  rights.  If no such sale is
consummated  with  ninety  (90)  days  following  the  end of  the  Solicitation
Acceptance  Period,  or the  date on  which  Earth  Energy  failed  to  close as
contemplated in Section 5.10, as applicable, the rights of Earth Energy provided
for in this Article 5 shall revive in all respects.  If Canwest completes a sale
of the Solicited Rights to a third party, it shall provide to Earth Energy,  and
shall obtain  enduring  covenants from such third party  purchaser  prior to the
completion of such sale to provide to Earth Energy,  all documentation and other
information requested by Earth Energy necessary for it to determine, to its sole
satisfaction,  acting reasonably,  all the terms and conditions relating to such
sale.

                                      -13-
<PAGE>

5.10  Closing

It shall be a condition  of the closing of the sale of the  Solicited  Rights to
Earth  Energy for the benefit of Earth  Energy,  that Canwest has good right and
lawful  authority  to sell the  Solicited  Rights  free and clear of all  liens,
encumbrances,  charges,  security  interests,  rights,  claims  and of any  kind
whatsoever.

5.11  Consent to Assignment

Sections 5.1 - 5.10 do not apply to any  transfer or sale of  Canwest's  rights,
obligations  or interests  under this  Agreement  to an  Affiliate  where such a
transfer or sale is for nominal consideration or where the consideration paid is
substantially  non-cash  property or property that does not oblige the purchaser
to pay cash  consideration  at the time of the transfer or sale or  subsequently
thereto.

5.12  Consent to Assignment

Canwest  acknowledges that it may only assign any of its rights,  obligations or
interests  under this  Agreement,  with the  exceptions  of those  rights  under
Sections  3.2 to 3.8 (which are  subject to Sections  5.1 through  5.11 with the
prior  written  consent of Earth  Energy,  such  consent not to be  unreasonably
withheld.  Notwithstanding  the  foregoing,  Earth Energy shall not withhold its
consent  to any  assignment  of its  rights,  provided  that:  (i)  there are no
reasonable  grounds to conclude that such  assignment  will impair or reduce the
likelihood  that Earth  Energy will  receive  payment  under  Article 4 (ii) the
assignee provides reasonable representations,  warranties and covenants to Earth
Energy relative to its corporate existence, capacity and powers, and its ability
to carry on  business;  and (iii) the  assignee  agrees to be bound by the terms
hereof.

5.13  Consent to Transfer of Royalty Rights

In the case of a transfer of rights, obligations or interests under Sections 3.2
to 3.8 to a party other than an Affiliate of Canwest,  such assignment  shall be
in accordance with Sections 5.1 to 5.11 of this Article 5.

5.14  Consent to Transfer Rights to Catalyst Purchases at Cost

In the case of a transfer of rights,  obligations  or interests  under Article 4
and related  license under Section 3.1,  Canwest shall not be entitled to assign
any such rights, obligations or interests, except and to the extent that Canwest
Lands are transferred to an entity that is an Affiliate of Canwest,  and in such
case the  transferred  rights,  obligations or interests shall only apply to the
Canwest Lands so transferred or to lands subsequently acquired by such Affiliate
where such  subsequently  acquired  lands would meet the  definition of "Canwest
Lands" as if the Affiliate were Canwest. If at any time such entity is no longer
an  Affiliate  of  Canwest,  then at such time the  rights  under  Article 4 and
related license under Section 3.1 shall terminate with respect to such entity.

5.15  Assignment Payment

In the event Earth Energy consents to an assignment by Canwest of some or all of
its rights  hereunder  and in addition to any other  rights  Earth  Energy might
have, Canwest shall pay to Earth Energy:

                                      -14-
<PAGE>

      (a)   in the case of an assignment of rights to receive  Royalties derived
            from Canada, an amount calculated by the formula a/3 + (b-c), where:

            (i)   a = the total consideration (whether cash or any other form of
                  consideration) paid by the assignee to Canwest,

            (ii)  b = all  royalties  paid by  Earth  Energy  to  Canwest  under
                  section 3.2 hereof, and

            (iii) c = the sum of $150,000 CDN plus any amount paid by Canwest to
                  Earth Energy under section 4.1 hereof,

            provided that where the remainder of b minus c is a positive number,
            the remainder shall be deemed to be zero.

      (b)   in the case of an assignment of rights to receive  Royalties derived
            from Central or South America,  an amount  calculated by the formula
            d/3 + (e-f), where:

            (i)   d = the total consideration (whether cash or any other form of
                  consideration) paid by the assignee to Canwest,

            (ii)  e = all  royalties  paid by  Earth  Energy  to  Canwest  under
                  sections 3.3 and 3.4 hereof, and

            (iii) f = that amount paid or set-off by Canwest  under  section 3.3
                  hereof, to a maximum of $500,000 USD,

            provided that where the remainder of e minus f is a positive number,
            the remainder shall be deemed to be zero.

      Canwest  covenants that, to the extent  practicable,  it shall arrange for
      Earth Energy's share of such assignment  payment(s) to be made directly by
      the assignee to Earth Energy.  Any payments made by the assignee  shall be
      made first for the  account of Earth  Energy and second for the account of
      Canwest. Further, any payments received by Canwest shall be received first
      for the account of Earth Energy  until Earth  Energy is paid in full,  and
      only then for the account of Canwest,  and any such payments shall be held
      by Canwest in trust for Earth Energy.

This Section 5.15 does not apply to any assignment by Canwest to an Affiliate of
Canwest,  provided  that such  assignment  is bona fide and any payments made to
Canwest in connection  with such  assignment are for tax,  accounting or similar
corporate purposes and not primarily with a view to profit Canwest.

5.16  Continuing Canwest Obligations

Notwithstanding  any  assignment  by  Canwest  of  any  rights,  obligations  or
interests hereunder,  Canwest shall remain liable for full performance of all of
its obligations  hereunder and under the  Non-Disclosure  and Non-Use Agreement,
including relating to ownership of the Technology and confidentiality.

                                      -15-
<PAGE>

                                    ARTICLE 6
                                 CONFIDENTIALITY

6.1   Non-Disclosure Agreement

Canwest agrees to execute and deliver, all on the Effective Date, Earth Energy's
form of  non-disclosure  and non-use  agreement in the form  attached  hereto as
Schedule "B" (the "Non-Disclosure and Non-Use Agreement).

6.2   Affiliates and Assignees

It shall be a condition  of any  assignment  of any rights,  obligations  and/or
interests  hereunder that the assignee first execute and deliver to Earth Energy
a Non-Disclosure and Non-Use Agreement.  Prior to any Affiliate of Canwest being
entitled to receive the benefit of any rights  hereunder,  such Affiliate  shall
first  execute  and  deliver  to  Earth  Energy  a  Non-Disclosure  and  Non-Use
Agreement.

                                    ARTICLE 7
                              TERM AND TERMINATION

7.1   Term

The term (the "Term") of this Agreement shall commence on the Effective Date and
continue until terminated on the earliest of:

      (a)   the expiry of the last of any and all Patents  anywhere in Canada or
            Central and South America  (assuming rights to Royalties levied from
            Central and South  America are acquired by Canwest and if not,  then
            Canada only);

      (b)   the day being thirty (30) days following  delivery of written notice
            to  Canwest  that it is in  material  breach of this  Agreement  and
            provided such breach has not been fully cured or corrected  prior to
            such day; and

      (c)   any action or inactions by Canwest that constitutes:  (i) a material
            breach of the Non-Disclosure and Non-Use Agreement;  (ii) an attempt
            to "reverse  engineer" any Technology  not in the public domain;  or
            (iii) any breach by Canwest of Section 4.3 or 5.1.

This Section 7.1 is subject to the arbitration provisions in Article 8.

7.2   Survival

The representation, warranties, covenants and other agreements contained in this
Agreement and/or in other documents  delivered in connection  herewith shall not
merge on and shall survive the closing of the transactions  contemplated hereby.
In  addition,  Articles  1, 2, 6, 8 and 10, and the  Non-Disclosure  and Non-Use
Agreement shall survive any termination of this Agreement.

                                      -16-
<PAGE>

                                    ARTICLE 8
                                   ARBITRATION

8.1   Reasonable Commercial Efforts to Settle Disputes

If any controversy,  dispute,  claim, question or difference  ("Dispute") arises
with  respect  to  this  Agreement  or  its  performance,  enforcement,  breach,
termination or validity, the parties shall use all reasonable commercial efforts
to settle the Dispute.  To this end, they shall consult and negotiate  with each
other in good faith and  understanding of their mutual interests to reach a just
and equitable solution satisfactory to all parties. No express reference in this
Agreement to the application of Article 8 to a provision hereof shall affect the
general application of this Article 8 to all provisions hereof.

8.2   Arbitration

Except as is expressly provided in this Agreement, and subject to Section 10.12,
if Earth  Energy and  Canwest do not reach a solution  pursuant  to Section  8.1
within a period of fifteen (15) Business Days  following the first notice of the
Dispute by any party to the others,  then either party may, at its own election,
refer the  Dispute to  arbitration  in  accordance  with this  Section 8.2 to be
finally  settled  in  accordance  with the  provisions  of the  Arbitration  Act
(Alberta), based upon the following:

      (a)   the arbitration tribunal shall consist of three (3) arbitrators, one
            (1)  appointed  by each of  Earth  Energy  and  Canwest  and a third
            appointed by mutual  agreement of the first two  arbitrators;  or in
            the  event  of  failure  to agree  within  ten  (10)  Business  Days
            following the  appointment of the second  arbitrator,  any party may
            apply to a judge of the Court of Queen's Bench of Alberta to appoint
            an arbitrator.  The arbitrators  shall be qualified by education and
            training to pass upon the particular matter to be decided;

      (b)   the  arbitrators  shall be instructed that time is of the essence in
            the arbitration  proceeding and, in any event, the arbitration award
            must be made within thirty (30) days of the appointment of the third
            arbitrator;

      (c)   after written  notice is given to refer any Dispute to  arbitration,
            the parties will meet within  fifteen (15) Business Days of delivery
            of the notice to arbitrate and will negotiate in good faith to agree
            upon the rules and procedures for the  arbitration,  in an effort to
            expedite  the  process  and  otherwise  ensure  that the  process is
            appropriate  given the nature of the Dispute and the values at risk,
            failing which, the rules and procedures for the arbitration shall be
            determined by the arbitrators or a majority of them;

      (d)   the arbitration shall take place in Calgary, Alberta;

      (e)   except as otherwise  provided in this Agreement or otherwise decided
            by  a  majority  of  the  arbitrators,  the  fees  and  other  costs
            associated  with the  arbitrators  shall be  shared  equally  by the
            parties and each party shall be responsible for its own costs;

      (f)   the  arbitration  award  shall be given in  writing,  shall  provide
            reasons  for the  decision  and  shall be final and  binding  on the
            parties, not subject to any appeal, and shall deal with the question
            of costs of arbitration and all related matters;

      (g)   judgment  upon  any  award  may  be  entered  in  any  Court  having
            jurisdiction  or application may be made to the Court for a judicial
            recognition of the award or an order of enforcement, as the case may
            be;

                                      -17-
<PAGE>

      (h)   all Disputes  referred to  arbitration  (including  the scope of the
            agreement to arbitrate, any statute of limitations, conflict of laws
            rules,  tort claims and  interest  claims)  shall be governed by the
            substantive law of Alberta and the federal laws of Canada applicable
            therein; and

      (i)   the parties agree that the  arbitration  shall be kept  confidential
            and that the  existence  of the  proceeding  and any  element  of it
            (including any  pleadings,  briefs or other  documents  submitted or
            exchanged, any testimony or other oral submissions and other awards)
            shall not be disclosed  beyond the arbitrators,  the parties,  their
            counsel and any person  necessary to the conduct of the  proceeding,
            except as may lawfully be required in judicial  proceedings relating
            to the arbitration or otherwise.

8.3   Continuing Relationship During a Dispute

In the event there is Dispute between the parties, the obligations and rights of
the parties  hereunder shall remain in force until  settlement of the Dispute is
reached,  provided that the party against whom a grievance is alleged remains in
good standing  under the  Agreement in all other  respects and provided that the
party  alleging  the  grievance  would  not  suffer  irreparable  harm  due  the
continuation of the Agreement.

                                    ARTICLE 9
                      PRESERVATION OF INTERESTS OF CANWEST

9.1   Preservation and Maintenance of Patents

Earth  Energy  hereby  provides to Canwest  express  authority  and consent (but
without  any  obligation  on the part of  Canwest  to do so) to take any and all
reasonable steps and actions, on its behalf or otherwise,  necessary to preserve
any Patents in existence,  including but not limited to making whatever  filings
and  payments  are  required  to be made  with any  appropriate  patent  office,
provided that such action:

      (a)   is not contrary to law and will not cause an  infringement or cannot
            reasonably  be  expected  to  cause  an  infringement  of any  other
            person's property rights;

      (b)   will not be,  directly  or  indirectly,  materially  adverse  to the
            interests  of Earth  Energy  unless  such action of Canwest was made
            necessary by the negligence or wilful misconduct of Earth Energy, in
            which case this subsection shall be of no force and effect; and

      (c)   will be at the sole  expense  of  Canwest,  unless  such  action  of
            Canwest was made necessary by the negligence or wilful misconduct of
            Earth Energy,  in which case all reasonable  out-of-pocket  costs of
            Canwest  relating  to such  action  shall be at the expense of Earth
            Energy.

In connection with the foregoing, a determination by Earth Energy to abandon any
Patent shall not be deemed to be wilful misconduct or negligence.

9.2   Preservation of Right to Catalyst

Earth Energy  covenants and agrees to use all reasonable  commercial  efforts to
supply Catalyst and provide related  services to Canwest pursuant to and subject
to the provisions of Article 4, failing which Canwest shall have recourse to any
and all  remedies  available to it under law to enable the supply of Catalyst to
Canwest for uses and in amounts  contemplated by Section 4 of this Agreement and
on the  basis of then  current  needs  for such  uses;  provided  also that such
recourse shall be subject to all other terms of this Agreement.

                                      -18-
<PAGE>

9.3   Disclosure

Canwest  acknowledges  and agrees  that,  other than as provided  for in Section
2.4(e), Earth Energy is not under any ongoing obligation to provide Canwest with
any confidential  information  relating to the Technology,  including  research,
development and testing related thereto. Earth Energy shall, however:

      (a)   comply with its  obligations  under  Section  4.2 to properly  train
            Canwest personnel in the use of the Equipment;

      (b)   in the  event  of Earth  Energy's  failure  to  supply  Catalyst  in
            accordance  with  Section 9.2,  provide  sufficient  information  to
            Canwest  to  permit  the  acquisition  of  alternative  supplies  of
            Catalyst in accordance with the terms of this Agreement; and

      (c)   provide testing  services to Canwest,  at Services Cost, for samples
            of tar sands,  oil shale and/or soil originating from Canwest Lands,
            to determine if there are any Improvements  that might be applicable
            thereto and if so, to advise Canwest of what Catalyst is appropriate
            and what modifications, if any, should be made to the Equipment, the
            Process and/or to the operation of the Equipment,

provided always that  appropriate  confidentiality  obligations are in place and
complied  with  by  Canwest  and  third  persons  having  a need  to  know  such
information.

9.4   Arbitration

This Article 9 shall be subject to the arbitration provisions in Article 8.

                                   ARTICLE 10
                                     GENERAL

10.1  Communications

All notices and other  communications  given in connection  with this  Agreement
shall be in writing, and the respective addresses of the parties for the service
of any such notices or other communications shall be as follows:

EARTH ENERGY                  Earth Energy Resources Inc.
                              #304 - 1590 Spall Rd.
                              Kelowna, British Columbia
                              V1Y 9W3

                              Attention: Mr. David Brough, CEO

                              Fax No.:  (250) 979-4378

                                      -19-
<PAGE>

With a copy to:               Borden Ladner Gervais LLP
                              1000, 400 Third Avenue S.W.
                              Calgary, Alberta T2P 4H2

                              Attention: Michael Rempel

                              Fax No.: (403) 266-1395

WEST PEAK and/or CANWEST      West Peak Ventures of Canada Ltd./Canwest
                              Petroleum Corporation
                              Suite 420 - 475 Howe St.
                              Vancouver, B.C. V6C 2B3

                              Attention: Mr. Tim Brock

                              Fax No.: (604) 606-7980

With a copy to:               Macleod Dixon LLP
                              3700, 400 Third Avenue S.W.
                              Calgary, Alberta T2P 4H2

                              Attention: Ms. LuAnne Morrow
                              Fax No.: (403) 264-5973

      All notices and  communications  given in connection  with this  Agreement
shall be  sufficiently  given if addressed as aforesaid and either  delivered by
hand or by reputable courier service or mail to the intended recipient's address
for service as set forth above, or sent by direct facsimile telecommunication to
such party at its fax number as set forth above (with  receipt  confirmed).  Any
notice so given  shall be deemed to have  been  given and  received  on the last
Business  Day on which  it is  presented  during  normal  business  hours at the
address  for  service  of the  addressee  thereof,  or,  in the case of a direct
facsimile  telecommunication,   on  the  day  on  which  it  is  transmitted  if
transmitted  prior to or during normal  business  hours on a Business Day, or on
the  first  Business  Day  following  the  day on  which  it is  transmitted  if
transmitted  otherwise.  A party may change its  address  for  service by giving
written notice thereof to the other parties.

10.2  Entire Agreement

      This Agreement  expresses and constitutes the entire agreement between the
parties  hereto with respect to the matters set forth herein and  supersedes any
previous  agreements  or  understandings  with  respect to the matters set forth
herein,  including,  without  limitation,  the  letter  from  Ashif  S.  Merani,
barrister  and  solicitor,  on  behalf of Earth  Energy,  dated  June 10,  2004,
addressed to West Peak and acknowledged and accepted by Canwest.

10.3  Amendment

This Agreement may be amended only by written instrument executed by Canwest and
Earth Energy.

                                      -20-
<PAGE>

10.4  Transaction Costs

Each party shall be responsible for their own legal, accounting, evaluations and
other transaction fess and costs incurred in connection with this Agreement.

10.5  Assignment

Canwest shall only be entitled to assign any rights or  obligations  under or in
respect of this  Agreement  with the prior  written  consent of Earth Energy and
subject to Article 5. Earth  Energy shall be entitled to assign the whole or any
portion  of its  interest  in and in  respect  of this  Agreement  at any  time,
provided  that it shall not thereby be relieved of its  liability to Canwest for
the performance of its obligations hereunder, unless Canwest otherwise agrees.

10.6  Enurement

This Agreement shall enure to the benefit of and be binding upon the parties and
their  respective  trustees,  legal  representatives,  receivers  and  permitted
assigns.

10.7  Further Assurances

Each of the  parties  shall  from  time to time and at all times  following  the
Effective Date, without further  consideration,  do and perform all such further
acts  and  things,  and  execute  and  deliver  all  such  further   agreements,
assurances, deeds, notices, releases and other documents and instruments, as may
reasonably  be required to more fully assure the intent and  provisions  of this
Agreement.

10.8  Waiver

No failure by any party hereto to exercise,  and no delay by any party hereto in
exercising,  any right,  power or remedy hereunder shall impair any right, power
or remedy  which such party may have,  nor shall such delay be construed to be a
waiver of any such rights,  powers or remedies or an  acquiescence in any breach
or  default  under  this  Agreement  or  in  connection  with  the  transactions
contemplated  hereby.  No waiver of any breach or default hereunder of any party
hereto shall be deemed a waiver of any default or breach subsequently  occurring
hereunder.  Any agreement on the part of a party to any such extension or waiver
shall be valid only if set forth in an instrument in writing signed on behalf of
such  party,  and a waiver  shall  affect only the  matter,  and the  occurrence
thereof,  specifically  identified in the writing granting such waiver and shall
not extend to any other matter or occurrence.

10.9  Severability

If any provision of this  Agreement,  or the application  thereof,  will for any
reason  and to any extent be invalid or  unenforceable,  the  remainder  of this
Agreement and  application of such  provision to other persons or  circumstances
will be interpreted so as reasonably to affect the intent of the parties hereto.
The parties further agree to replace such invalid or unenforceable  provision of
this Agreement with a valid and enforceable  provision that will achieve, to the
extent  possible,  the economic,  business and other  purposes of the invalid or
unenforceable provision.

10.10 Other Remedies

Except as  otherwise  provided  herein,  any and all remedies  herein  expressly
conferred upon a party will be deemed  cumulative  with and not exclusive of any
other  remedy  conferred  hereby  or by law or  equity  on such  party,  and the
exercise of any one remedy will not preclude the exercise of any other, provided
however that the results of arbitration pursuant to Section 8.2 shall be binding
on all parties.

                                      -21-
<PAGE>

10.11 Absence of Third Party Beneficiary Rights

No provision of this Agreement is intended, nor will be interpreted,  to provide
to create any third party beneficiary  rights or any other rights of any kind in
any client, customer,  affiliate,  shareholder,  officer, director,  employee or
partner of any party  hereto or any other person or entity  unless  specifically
provided  otherwise  herein,  and, except as so provided,  all provisions hereof
will be solely between the parties to this Agreement.

10.12 Specific Performance

The parties hereto agree that  irreparable  damage would occur in the event that
any of the provisions of this Agreement  and/or the  Non-Disclosure  and Non-Use
Agreement  were not performed in accordance  with their  specific  terms or were
otherwise  breached.   The  parties  shall  be  entitled  to  an  injunction  or
injunctions to prevent breaches of this Agreement and/or the  Non-Disclosure and
Non-Use Agreement and to enforce  specifically the terms and provisions  thereof
in court,  in addition to any other  remedy to which they are entitled at law or
in equity.

10.13 Counterpart Execution

This  Agreement  may be  executed  in separate  counterparts,  and the  executed
counterparts  shall  together  constitute one instrument and have the same force
and effect as if all of the parties had executed the same instrument.

                                      -22-
<PAGE>

      IN WITNESS  WHEREOF the parties have executed and delivered this Agreement
effective the Effective Date.

WEST PEAK VENTURES OF CANADA LTD.          EARTH ENERGY RESOURCES INC.

Per:                                       Per:
      --------------------------------         --------------------------------

Per:                                       Per:
      --------------------------------         --------------------------------

CANWEST PETROLEUM CORPORATION

Per:
      --------------------------------

Per:
      --------------------------------

<PAGE>

                                  SCHEDULE "A"

                 LIST OF CANWEST LANDS AS OF THE EFFECTIVE DATE

See attached.

<PAGE>

                                  SCHEDULE "B"

                  FORM OF NON-DISCLOSURE AND NON-USE AGREEMENT

                           EARTH ENERGY RESOURCES INC.
                              #304 - 1590 Spall Rd.
                            Kelowna, British Columbia
                                     V1Y 9W3

March 4, 2005

Canwest Petroleum Corporation
Suite 420 - 475 Howe St.
Vancouver, British Columbia
V6C 2B3

Attention: Mr. Tim Brock

Dear Sirs:

Re:   Non-Disclosure and Non-Use Agreement

      Each  party  hereto  (where  the  same  is  a  discloser  of  Confidential
Information,  the "Owner") is  considering  disclosing to the other party (where
the same is the recipient of Confidential Information, the "Receiving Party") in
connection  with the use and commercial  exploration  of Earth Energy  Resources
Inc.'s  ("Earth  Energy")  catalyst,  process and related  equipment  technology
(collectively   "Technology")   including  certain  test,   business  and  other
information as may be determined by the Owner, for purposes associated with each
party's  respective  business  operations and as may be agreed to under separate
agreement(s)  (the "Permitted  Use"). In the course of the Permitted Use it will
be necessary to disclose to the Receiving Party certain Confidential Information
and the parties wish to provide for the use of the  Confidential  Information by
the  Receiving  Party solely for and limited to the Permitted Use and to confirm
that the ownership of and all benefits to the Technology shall remain with Earth
Energy.

      The term  "Confidential  Information" as used in this Agreement shall mean
all information whether in oral, written, visual or other tangible or intangible
form which has been or is in the future  disclosed,  directly or indirectly,  to
the  Receiving  Party,  relating  in any way,  directly  or  indirectly,  to the
business of the Owner,  including without limitation any business  opportunities
that may be available to the Owner and all financial  information.  With respect
to Earth Energy as Owner,  Confidential  Information  also includes  information
directly or indirectly relating to the Technology, including without limitation,
any uses of or  improvements  to the  Technology,  as well as all Inventions (as
defined  below) in  connection  therewith.  Confidential  Information  shall not
include   information  which  the  Receiving  Party  establishes  by  clear  and
convincing evidence:

      (a)   was already in the possession of the Receiving Party prior to August
            1, 2003;

      (b)   was in the public domain at the time the Receiving Party received or
            developed such information; or

<PAGE>

      (c)   becomes part of the public  domain after receipt or  development  by
            the Receiving  Party,  through no act or omission on the part of the
            Receiving Party.

      Confidential  Information  which is  specific  is not  deemed to be in the
public domain merely  because it is embraced by general  knowledge in the public
domain. Further,  Confidential Information is not deemed to be within the public
domain  merely  because its  individual  features are within the public  domain,
unless the combination of features or their nexus are in the public domain.

      The term  "Inventions"  as used in this  Agreement  shall  mean all works,
discoveries,  concepts,  work  product  and ideas,  whether  patentable  or not,
including but not limited to products, processes, prototypes, software, designs,
methods, formulae and techniques, as well as improvements thereto or thereof and
all  "know-how"  in  connection  with  all  thereof,  as  well  as all  patents,
copyright,  industrial design and other intellectual property rights therein and
thereto,  all whether  conceived or developed by the Owner and/or the  Receiving
Party and  which  relate in anyway to any  aspect,  present  or  future,  of the
Confidential  Information;  provided however, it is the intent of this Agreement
and the  parties  agree  that  any  and all  Inventions  relating,  directly  or
indirectly, to the Technology shall be owned solely by Earth Energy.

      The Owner is agreeable to making the Confidential Information available to
the Receiving Party, subject to the following terms and conditions:

      1.    The  Receiving  Party  hereby   acknowledges  and  agrees  that  the
            Confidential  Information  and all  Inventions  are and shall be the
            exclusive, valuable property of the Owner. The Receiving Party shall
            acquire no right or interest in or to the  Confidential  Information
            and no license  or  assignment  is granted or to be implied  herein,
            unless otherwise agreed to by the parties in a separate agreement.

      2.    The Receiving Party agrees to keep secret and  confidential  any and
            all  Confidential  Information  received  and/or  developed  by  it,
            together   with  all   Inventions   and  not  to  divulge  any  such
            Confidential  Information  or  Inventions,  in  whole  or  in  part,
            directly or indirectly,  to any third party,  except as specifically
            permitted hereby.

      3.    The Receiving Party agrees to refrain from using or drawing upon the
            Confidential  Information,  directly or indirectly,  for any purpose
            other than the  Permitted Use and with a view to assisting the Owner
            in  its  business  and  the  Receiving  Party  shall  not  make  any
            commercial or other use, directly or indirectly, of the Confidential
            Information or any Invention.

      4.    Without limiting the Receiving Party's  obligations  hereunder,  the
            Receiving  Party  covenants  and agrees to perform such  obligations
            using at least the same  standard  of care as it  applies to its own
            confidential information, which standard, in any event, shall not be
            less than those professional standards used in the industry relating
            to  the  Permitted   Use.  The  Receiving   Party  shall  limit  the
            availability of the  Confidential  Information  within the Receiving
            Party's organization to only those of its employees, consultants and
            agents who have an  absolute  need to see and use it for the express
            and  limited  purpose  of the  Permitted  Use and  should  any  such
            disclosure  be  required,  to  inform  each of the  said  employees,
            consultants  and  agents of the  provisions  of this  Agreement  and
            ensure  through  written  agreement  that  they are also  bound as a
            Receiving Party by the provisions hereof, with the Owner being named
            either  as a  party  or as a  third  party  beneficiary  under  such
            agreement.

                                      -2-
<PAGE>

      5.    In the event that the Receiving Party or any of its  representatives
            is requested or required by discoveries,  interrogatories,  requests
            for information or documents in legal proceedings,  subpoena,  civil
            investigative  demand or other similar  process,  to disclose any of
            the  Confidential  Information,  the  Receiving  Party shall provide
            Owner with prompt  written notice of any such request or requirement
            so that  Owner  may seek a  protective  order  or other  appropriate
            remedy  and/or  waive   compliance   with  the  provisions  of  this
            Agreement. If, in the absence of a protective order or other remedy,
            the  Receiving  Party is  nonetheless,  in the  opinion of  counsel,
            legally  compelled  to  disclose  Confidential  Information  to  any
            tribunal or else stand liable for  contempt or suffer other  censure
            or penalty, the Receiving Party,  without liability  hereunder,  may
            disclose  to such  tribunal  only that  portion of the  Confidential
            Information  which such  counsel  advises is legally  required to be
            disclosed,   provided  that  the  Receiving   Party   exercises  all
            commercially   reasonable   efforts   to   obtain   assurance   that
            confidential   treatment   will  be   accorded   that   Confidential
            Information by such tribunal.

      6.    In the event the Receiving Party decides not to proceed with further
            discussions  pertaining  to the Permitted Use or upon the request of
            the Owner,  then the Receiving Party agrees to forthwith  deliver to
            the Owner or permanently destroy all copies of documents, electronic
            records or other  media  containing  or based upon or arising out of
            Confidential  Information without retaining any copies thereof.  The
            Receiving Party shall confirm in writing, certified by an officer of
            the Receiving  Party where the same is a corporation,  that all such
            documents, electronic records and other media have been delivered or
            destroyed, as the case may be.

      7.    For greater  clarification  where Earth Energy is the Owner,  all of
            the  forgoing  provisions  and the  provisions  of this  paragraph 7
            concerning Earth Energy's Confidential  Information shall also apply
            to and include, mutatis mutandis, the Technology,  including without
            limitation all Inventions  relating thereto,  such that Earth Energy
            shall be the  sole and  exclusive  owner of the  Technology  and all
            Inventions  pertaining thereto and to the extent the same constitute
            Confidential  Information,  it shall be  deemed  to be Earth  Energy
            Confidential  Information.  Any Inventions conceived or developed by
            the  Receiving  Party  following   disclosure  of  the  Confidential
            Information  shall be owned  solely by the  Owner  and be  forthwith
            disclosed  by the  Receiving  Party to the Owner  and the  Receiving
            Party  agrees  to hold the same in trust  for and on  behalf  of the
            Owner and  forthwith  upon  request  of the Owner,  to  execute  and
            deliver  any  documents  to the Owner and at the request and cost of
            the Owner,  to take whatever other steps are so requested,  in order
            to fully  transfer any and all right,  title or interest  thereto to
            the Owner. The Receiving Party acknowledges and agrees that it shall
            make no claim of ownership or other entitlement to any right,  title
            or interest in or to any  Confidential  Information  or Invention or
            part thereof.

      8.    Each party agrees that it shall not knowingly solicit or recruit the
            employees  of the other  party who are or were  associated  with the
            Permitted  Use,  without  the prior  written  consent  of such other
            party.  The  foregoing  provisions  of this  paragraph  8 shall  not
            restrict the right of either  party to solicit or recruit  generally
            in the media  and  shall not  prohibit  either  party  from  hiring,
            without prior written  consent,  the other party's  employee(s)  who
            answer any general  advertisement or who otherwise voluntarily apply
            for hire without  having been  personally  solicited or recruited by
            the hiring party.

      9.    The Receiving  Party's  obligations under this Agreement shall be in
            force  from  the  date of this  Agreement  and  continue  in  effect
            thereafter with respect to:

            (a)   Confidential Information, until the specific information is no
                  longer  deemed to be  Confidential  Information  in accordance
                  with the provisions hereof;

                                      -3-
<PAGE>

            (b)   Inventions,  until one (1) year  following the delivery to the
                  Owner of the officer's  certificate referred to in paragraph 6
                  hereof; and

            (c)   solicitation  or recruitment  of the other party's  employees,
                  until the earlier of an employee leaving his or her employment
                  (with  respect  only  to  such  employee)  and  one  (1)  year
                  following the delivery of the officer's  certificate  referred
                  to in paragraph 6 hereof.

      10.   The Receiving Party agrees that if it commits a breach, or threatens
            to commit a breach, of any of the provisions of this Agreement, then
            the  Owner has the right to have the  provisions  of this  Agreement
            specifically  enforced by any court  having  jurisdiction,  it being
            acknowledged  and agreed that any such breach or  threatened  breach
            will cause  irreparable  injury to the Owner and that money  damages
            may not provide an adequate  remedy to the Owner. If a breach occurs
            and  is  not  wholly  remedied  by  specific   enforcement  of  this
            Agreement,  the Receiving  Party agrees to compensate  the Owner for
            any adverse consequences that result,  directly or indirectly,  from
            the breach.

      11.   No  representation  or warranty of any kind is made with  respect to
            the accuracy,  completeness or suitability for a particular  purpose
            of the Confidential Information or of any Inventions and the same is
            provided hereunder on an "as is" basis.

      12.   This  Agreement  shall  not be  construed  as  creating  an  agency,
            partnership,   joint  venture,  teaming  or  other  formal  business
            relationship between the parties.

      13.   This  Agreement is governed by and construed in accordance  with the
            laws of the  Province  of Alberta  applicable  to  agreements  to be
            performed  entirely  within the  Province  of  Alberta.  Each of the
            parties hereby irrevocably attorns to the jurisdiction of the courts
            of the Province of Alberta.

      14.   The  Receiving  Party  shall not be  entitled  to assign  any of its
            obligations  under this Agreement  without the prior written consent
            of  the  Owner,   which  consent  the  Owner  may  withhold  in  its
            discretion.  The Owner shall be entitled,  without the prior consent
            of the Receiving  Party, to assign any or all of its rights,  powers
            or privileges under this Agreement.

      15.   This  Agreement  contains the entire  agreement  between the parties
            concerning the confidentiality and Permitted Use of the Confidential
            Information  and ownership of the Inventions and no  modification of
            this Agreement or waiver of its terms and conditions is binding upon
            us  unless   approved  in  writing  and  signed,   in  the  case  of
            modification,  by each of the Owner and the  Receiving  Party and in
            the case of waiver, by the party so waiving.

                                      -4-
<PAGE>

If you agree with the foregoing,  please indicate your acceptance by signing the
enclosed duplicate copy of this letter agreement and returning it to us.

Yours truly,

EARTH ENERGY RESOURCES INC

Per:
     -------------------------------

Name:
      ------------------------------

Position:
          --------------------------

ACCEPTED AND AGREED to this 4th day of March, 2005

CANWEST PETROLEUM CORPORATION

Per:
     -------------------------------

Name:
      ------------------------------

Position:
          --------------------------

                                      -5-

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