Document:

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 Exhibit 10.7

                             Ernest Geoffrey Albers

                                       to

                        Australian Oil & Gas Corporation

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                              ACQUISITION OF SHARES
                       COMPLIANCE WITH U.S. SECURITIES LAW
                          (Effective January 31, 2007)

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<PAGE>

                              ACQUISITION OF SHARES
                              ---------------------

                      COMPLIANCE WITH U.S. SECURITIES LAWS
                      ------------------------------------

THIS AGREEMENT is made to take effect from the 31st day of January 2007

BETWEEN     ERNEST GEOFFREY ALBERS of Level 25, 500 Collins Street,  Melbourne
            Victoria 3000  (hereinafter called "Albers") of the one part

AND         AUSTRALIAN OIL & GAS CORPORATION (incorporated in Delaware) of
            2480 North Tolemac Way, Prescott, Arizona 86305, USA
            (hereinafter called "AOGC") of the other part.

WHEREAS:

1.   Albers has made his services available to AOG for the year to 31 December
     2006.

2.   AOGC has agreed to issue 2,000,000 new shares of common stock in AOGC to
     Albers as consideration for his services and Albers has agreed to accept
     such consideration for his services.

3.   The parties hereto submit to the laws of Delaware, USA and any action taken
     hereunder shall be taken in the appropriate court of such jurisdiction.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

(a)  Representations and Warranties by Albers. Albers hereby represents and
     warrants to the Company that he:

     (i)  understands that the Shares to be issued in accordance with section 2
          have not been, and, as of the date of issuance, will not be,
          registered under the U.S. Securities Act of 1933, as amended (the
          "Securities Act"), or under any U.S. state securities laws, and are
          being issued pursuant to a "safe harbor" exemption from registration
          contained in Regulation S promulgated under the Securities Act based,
          in part, upon the representations and warranties of each Vendor
          contained herein;

     (ii) has received certain information concerning the Purchaser and has had
          the opportunity to obtain additional information as desired in order
          to evaluate the merits and the risks inherent in holding shares of the
          Purchaser's common stock, and recognizes that an investment in the
          Purchaser involves significant risk;

<PAGE>
     (iv) is able to bear the economic risk and lack of liquidity inherent in
          holding the Shares, can afford to bear the loss of Vendor's entire
          investment in the Purchaser, has adequate means of providing for
          current needs and personal contingencies;

     (v)  has such knowledge and experience in financial and business matters
          that the Vendor is capable of evaluating the merits and risks of an
          investment in the Purchaser; and is an "Accredited Investor" as
          defined in Regulation D promulgated under the Securities Act;

     (vi) (A) is not a "U.S. Person" (as that term is defined in Rule 902 of
          Regulation S under the Securities Act); (B) is not acquiring the
          Shares for the account or benefit of any U.S. Person and has not
          pre-arranged any resale of any of the Shares with any buyer located in
          the United States or otherwise with a U.S. Person; and (C) was not
          offered the Shares in the United States, and at the time of execution
          of this Agreement and of any offer to purchase the Shares received
          from the Purchaser hereunder, was located outside the United States;

     (vii) is not engaged in the business of distributing securities;

     (viii) will not engage in hedging transactions with regard to the Shares
          unless in compliance with the Securities Act; and

     (ix) has not engaged and will not engage, nor have any of its affiliates or
          any person acting on behalf of it or any of them engaged in or will
          engage in, any "directed selling efforts" with respect to the Shares
          within the meaning of Rule 902(c) of Regulation S adopted under the
          Securities Act.

     (x)  has relied solely upon the advice of the Vendor's own personal
          financial and tax advisers, counsel and accountants as to the legal,
          tax, economic, and related matters concerning this investment and its
          suitability for the Vendor before investing in the Shares of the
          Purchaser.

(b)  Representation and Warranty by AOGC. AOGC represents and warrants that
     neither it, nor any of its affiliates or any person acting on behalf of any
     of them, has engaged or will engage in any "directed selling efforts" with
     respect to the Shares within the meaning of Rule 902(c) of Regulation S
     adopted under the Securities Act, and it, its affiliates and any person
     acting on behalf of any of them have complied and will comply with the
     offering restrictions requirement of Regulation S under the Securities Act.

(c)  Legending and Stop Transfer Requirements.

     (i)  The stock certificate delivered by the Purchaser to the Vendor in
          accordance with Section 2 representing the Shares will be imprinted
          with a legend substantially in the following form:

<PAGE>
          "The shares represented by this certificate have not been registered
          under the Securities Act of 1933, as amended (the "Securities Act")
          and have been issued pursuant to an exemption from registration under
          Regulation S promulgated under the Securities Act. Such shares are
          "restricted securities" as defined in Rule 144 promulgated under the
          Securities Act and may not be offered for sale, sold, delivered after
          sale, transferred, pledged, or hypothecated except: (i) in accordance
          with the provisions of Regulation S under the Securities Act; (ii)
          pursuant to registration under the Securities Act; or (iii) pursuant
          to an opinion of counsel reasonable satisfactory to Australian Oil &
          Gas Corporation that such shares may be transferred without
          registration under the Securities Act. Hedging transactions involving
          the shares represented by this certificate may not be conducted unless
          in compliance with the Securities Act."

     (ii) AOGC shall refuse to register any transfer of the Shares that is not
          made in accordance with: (A) the provisions of this Agreement; and (B)
          the provisions of Regulation S, pursuant to registration under the
          Securities Act, or pursuant to an available exemption from
          registration under the Securities Act.

(d)  Resales of the Shares. Each Vendor shall make, or cause to be made, any
     resales of the Shares pursuant to one of the following methods:

     (i)  "offshore transactions" (as such term is defined in Regulation S)
          pursuant to the resale safe harbor of Rule 904 of Regulation S adopted
          under the Securities Act;

     (ii) Rule 144 promulgated under the Securities Act; or

     (iii) any other available exemption under the Securities Act; provided that
          the Vendor shall first furnish the Purchaser with a written opinion
          reasonably satisfactory to the Purchaser in form and substance from
          counsel reasonably satisfactory to the Purchaser by reason of
          experience to the effect that the Vendor may transfer such shares as
          desired without registration under the Securities Act (each such
          resale described in (i)-(iv), a "Permitted Resale" and collectively,
          the "Permitted Resales"). Any such Permitted Resales shall be made in
          offshore transactions or in transactions in the United States on the
          Over-the-Counter Bulletin Board (OTC-BB) or otherwise.

<PAGE>
SIGNED by ERNEST GEOFFREY ALBERS            )
in the presence of:                         )  /S/ ERNEST GEOFFREY ALBERS
                                               ---------------------------------

/S/ FILIPPINA PERUGINI
---------------------------------
Witness

SIGNED for and on behalf of                 )
AUSTRALIAN OIL & GAS CORPORATION            )
by MARK A MUZZIN

a Director and authorised officer in the    )  /S/ MARK A MUZZIN
presence of:                                )  _________________________________

/S/ FILIPPINA PERUGINI
---------------------------------
Witness

<PAGE>Exhibit 4.1

    
      

      

    

    
 

    Exhibit
      4.1

    

      __________________

       

      Name
        of
        Investor

      

      ROSEWIND
        CORPORATION

      

      SUBSCRIPTION
        TO COMMON SHARES

      

      

      The
        undersigned hereby subscribes for ____________ shares of common stock (No
        Par
        Value) of Rosewind Corporation (the “Shares”), a corporation organized under the
        laws of the State of Colorado (the “Company” or the “Corporation”), for $0.25
        per share and agrees to pay for said Shares in cash in the amount of $_________
        upon acceptance by the Corporation of this subscription and payment for Shares.
        Certificates for such Shares shall be issued to the undersigned as fully
        paid
        and non-assessable.

      

      The
        undersigned represents and warrants as follows:

      

      1. The
        Shares are being acquired by the undersigned for the undersigned's own account
        and not on behalf of any other person.

      

      1. The
        Shares are being acquired for investment purposes only and not for
        distribution.

      

      2. The
        undersigned acknowledges that the Company is a sailing school with a sailing
        vessel located in Australia but no students have enrolled to date.

      

      4. The
        undersigned has been given the opportunity to review (and to have the
        undersigned's attorney, accountant, and/or financial advisor review) the
        Corporation's prospectus on Form SB-2 together with its Articles of
        Incorporation and Bylaws which documents have been filed with the U.S.
        Securities and Exchange Commission (“SEC”), and are available for viewing and
        copying on the SEC’s website: www.sec.gov.

      

      5. The
        undersigned has been given the opportunity to discuss the business, financial
        condition, and affairs of the Corporation with its management. The undersigned
        has reviewed this information and his/her contemplated investment with his
        legal, investment, financial, and tax and accounting advisors to the extent
        the
        undersigned deems such review necessary. As a result, the undersigned is
        cognizant of the financial condition, capitalization, and proposed operations
        and financing of the Company, and the undersigned has available full information
        concerning its affairs and has been able to evaluate the merits and risks
        of the
        investment in the Shares.

      

      6. That
        the
        undersigned understands the special risks of an investment in the Shares,
        in
        particular, those special risks due to its being a sailing school with lack
        of
        operating history, and due to its limited capitalization.

       

       

      
        
          
          

        

        
          -
            1
            -

          
            

          

        

        
          
          

        

      

      

      7. The
        undersigned acknowledges that an investment in the Shares is one of high
        risk
        and is suitable only for investors who can withstand the risk of loss of
        their
        entire investment. The undersigned further acknowledges that he or she will
        only
        make an investment in the Shares after having completed his or her own due
        diligence investigation and after consulting with his or her own legal,
        financial and investment advisors to the extent the undersigned deems
        appropriate. 

      

      8.. The
        undersigned acknowledges and understands that there is currently no market
        for
        the Shares. 

      

      9.. The
        Company has given the undersigned the opportunity to ask questions of and
        to
        receive answers from persons acting on the Company's behalf concerning the
        terms
        and conditions of this trans-action and the undersigned also has been given
        the
        opportunity to obtain any additional informa-tion regarding the Company which
        the Company possesses or can acquire without unreasonable effort or expense.
        The
        Company has furnished the undersigned with any information regarding the
        Company
        requested in writing by the undersigned.

      

      10. This
        Subscription Agreement shall be irrevocable unless it is rejected by the
        Company.

      

      11. The
        undersigned acknowledges and represents that he or she is a knowledgeable
        investor who can fend for himself or herself and has adequate means to make
        the
        investment in the Shares; and that, in connection with the purchase of the
        Shares, he or she has obtained investment advice from outside sources, including
        his or her investment adviser and private attorney and/or accountant as he
        or
        she deemed necessary to make an informed investment decision.

      

      12. The
        undersigned is not a member of the National Association of Securities Dealers,
        Inc., nor affiliated with an NASD member broker-dealer firm except as
        follows:

              ____________________________________________________________.

         

      13. This
        Agreement may be amended or modified only in writing signed by the parties
        hereto. No evidence shall be admissible in any court concerning any alleged
        oral
        amendment hereof. This Agreement fully integrates all prior agreements and
        understandings between the parties concerning its subject matter.

      

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

      

      15. Each
        party hereto agrees for itself, its successors and permitted assigns to execute
        any and all instruments necessary for the fulfillment of the terms of this
        Agreement.

      

      16. This
        Agreement is made under, shall be construed in accordance with and shall
        be
        governed by the laws of the State of Colorado.

       

       

      
        
          
          

        

        
          -
            2
            -

          
            

          

        

        
          
          

        

      

      
 

      17.
        The
        undersigned hereby tenders the amount set forth above, in cash, in full payment
        for the Shares.

      

      18. By
        the
        undersigned's execution below, it is acknowledged and understood that the
        Company is relying upon the accuracy and completeness hereof in complying
        with
        certain obligations under applicable securities laws. The undersigned recognizes
        that the sale of the Shares by the Company will be based upon his/her
        representations and warranties set forth herein and the statements made by
        it
        herein.

      

      IN
        WITNESS WHEREOF, subject to acceptance by the Company, the undersigned has
        completed this Subscription Agreement to evidence the undersigned's subscription
        to purchase the Shares as set forth above.

      

       

      “The
        undersigned acknowledges that Compass Bank is acting only as an escrow agent
        in
        connection with the offering of the securities described herein, and has
        not
        endorsed, recommended or guaranteed the purchase, value or repayment of such
        Interests.”

       

      Date:

      __________________________________

      SIGNATURE
        OF SUBSCRIBER

      

      __________________________________

      PRINTED
        NAME OF SUBSCRIBER

      

      __________________________________

      SOCIAL
        SECURITY NUMBER  

                         OF
        SUBSCRIBER

      

      __________________________________

      STREET
        ADDRESS

      

      __________________________________

      CITY  STATE ZIP 

       

      

      __________________________________

      SIGNATURE
        OF SPOUSE

      (if
        purchasing jointly)

      

      __________________________________

      PRINTED
        NAME OF SPOUSE

      (if
        applicable)

      

      ACCEPTED
        BY:

      ROSEWIND
        CORPORATION

      

      DATE:__________________________

      

      BY:
        ______________________________

        JAMES
        WIEGAND, PRESIDENT

       

       

       

      
        
          
          

        

        
          -
            3
            -

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