Document:

RELEASE
      AND SETTLEMENT AGREEMENT

     

    THIS
      RELEASE AND SETTLEMENT AGREEMENT (this “Agreement”)
      is
      made and entered into as of this ___th day of July 2007 by and among
      Indigo-Energy, Inc., a Nevada corporation (the “Company”)
      and
      Falcon Holdings, LLC a company with an address at 104 W. Railroad St.,
      Mannington, WV 26582 (“Contractor”,
      and
      together with the Company, the “Parties”
each
      a
“Party”).
      

     

    WHEREAS,
      reference is made to a Drill and Service Agreement executed September 2005
      (“Original Agreement”)from the Company (previously know as Indigo Land and
      Development, Inc.) to the Contractor pursuant to which the Company and
      Contractor had agreed to certain terms and conditions, and more specifically,
      Company issued four and one half million (4,500,000) shares of Indigo common
      stock (Stock”) for future services to be performed by Contractor as described in
      Original Agreement; and

     

    WHEREAS,
      the
      Parties have agreed that it is in their best interests to modify the terms
      relating to the Original Agreement pursuant to the terms set forth herein;
      and

     

    WHEREAS,
      the Company has offered and the Contractor has agreed to accept such
      modifications to the Original Agreement for services rendered pursuant to the
      terms set forth herein; and

     

    WHEREAS,
      the Contractor has agreed that acceptance of such modifications to the Original
      Agreement shall constitute payment in full for services rendered and forever
      waives all right, title and interest to any further compensation by the Company;
      

     

    NOW,
      THEREFORE, the Parties hereto, intending to be legally bound, hereby agree
      as
      follows:

     

    Section
      1.  Waiver
      and Settlement.
      Effective upon the execution of this Agreement, and concurrent with the return
      of the signed and medalionized Stock certificate to the Company, Contractor
      hereby waives all rights, claims, interests and title to the Original Agreement
      and hereby agrees that any previous agreements or understandings between the
      Parties are null and void and of no further force or effect. After cancellation
      of that Stock, the Company will cause to be issued to Contractor and Contractor
      hereby accepts Two Million Two Hundred Twenty Five Thousand (2,225,000) shares
      (“New Stock”) of the Company’s Common Stock (“New
      Shares”)
      as
      payment in full for services rendered and in complete satisfaction of all
      obligations in connection with the Company’s Original Agreement and any other
      services relating thereto through the date of this Settlement Agreement.
      Additionally, $8,298.00 will be paid directly to Falcon in two payments of
      $4,464.49 commencing on September 15, 2007 and final payment on October 15,
      2007
      for prior services rendered. Contractor hereby agrees that payment of the New
      Stock and $8,298.00 will constitute payment in full and that there are no
      further fees or compensation due and owing to Contractor. Furthermore,
      Contractor will deliver to Company all documents and equipment that is
      rightfully the Company’s within 10 days of signing of this Settlement Agreement

     

    Section
      2.  Section
      1-A.Waiver
      and Settlement. Company
      shall contact the following vendors and discuss a payment schedule for
      appropriate and valid services that have been rendered to the Company through
      Contractor:

     

    1)
      Thrasher Engineering 

     

    2)
      Peter
      Battles / Consulting Geologist

     

    Section
      3.  Release.
      (a)
      Contractor hereby waives, releases and discharges the Company, its subsidiaries
      and their respective officers, directors, stockholders, employees, agents,
      attorneys, subsidiaries, servants, successors, insurers, affiliates and their
      successors and assigns, from any and all manner of action, claims, liens,
      demands, liabilities, causes of action, charges, complaints, suits (judicial,
      administrative or otherwise), damages, debts, obligations of any nature, past
      or
      present, known or unknown, whether in law or in equity, whether founded upon
      contract (expressed or implied), tort (including, but not limited to,
      defamation), statute or regulation (State, Federal or local), common law and/or
      any other theory or basis, from the beginning of the world to the date hereof,
      including, but not limited to, any claim that the Contractor has asserted,
      now
      asserts or could have asserted, but not including any claim for the enforcement
      of this Agreement. 

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    (b)
      It is
      understood and agreed by the Parties that the facts and respective assumptions
      of law in contemplation of which this Agreement is made may hereafter prove
      to
      be other than or different from those facts and assumptions now known, made
      or
      believed by them to be true. The Parties expressly accept and assume the risk
      of
      the facts and assumptions being different, and agree that all terms of this
      agreement shall be in all respects effective and not subject to termination
      or
      reclusion by any such difference in facts or assumptions of law.

     

    Section
      4.  Successors.
      This
      Agreement shall be binding upon and inure to the benefit of the Parties and
      their respective administrators, representatives, executors, successors and
      assigns, by reason of merger, consolidation, and/or purchase or acquisition
      of
      substantially all of the Company’s assets or otherwise.

     

    Section
      5.  Governing
      Law.
      Each
      party acknowledges that it has been represented by counsel in connection with
      this Agreement, and has executed the same with knowledge of its consequences.
      This Agreement is made and entered into under Nevada law and shall be
      interpreted, enforced and governed under the laws of the laws of Nevada without
      regard to its conflicts of laws principles. 

     

    Section
      6.  Paragraph
      Headings.
      The
      paragraph headings used in this Agreement are intended solely for convenience
      of
      reference and shall not in any manner amplify, limit, modify or otherwise be
      used in the interpretation of any of the provisions hereof.

     

    Section
      7.  Severability.
      Should
      any of the provisions of this Agreement be declared or be determined to be
      illegal or invalid, the validity of the remaining parts, terms or provisions
      shall not be affected thereby and said illegal or invalid part, term or
      provision shall be deemed not to be a part of this Agreement. 

     

    Section
      8.  Entire
      Agreement.
      This
      Agreement sets forth the entire agreement between the Parties, and fully
      supersedes any and all prior agreements or understandings between the Parties
      pertaining to the subject matter hereof. All other contracts, agreements or
      understandings between the Parties are null and void. Without limiting the
      foregoing, any and all employment agreements, including all amendment and/or
      addendums thereto, shall be terminated and of no further force or effect,
      whether or not such agreements state that the same, or portions thereof, are
      to
      survive termination. 

     

    Section
      9.  Counterparts.
      This
      Agreement may be executed in counterparts. Each counterpart shall be deemed
      an
      original, and when taken together with the other signed counterpart, shall
      constitute one fully executed Agreement.

     

    Section
      10.  Further
      Assurances.
      From
      and after the date hereof, the parties hereto shall take all actions, including
      the execution and delivery of all documents, necessary to effectuate the terms
      hereof. 

     

    Section
      11.  Survival.
      All
      obligations of the Parties as set forth herein shall survive the execution
      and
      delivery hereof. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the Parties have caused this Agreement to be entered into
      as of
      the date first written above.

    

    
      	
              INDIGO-ENERGY,
                INC.

               

            
	
              By:

            	 
	
              Name:
                David J. Larson

            
	
              Title:
                President

            
	 

    

     

    
      	
              STATE
                OF

            	
              )

            
	 	 	
              ss:

            
	
              COUNTY
                OF

            	
              )

            
	
               

              I
                certify that on July __, 2007, David J. Larson personally came before
                and
                acknowledged under oath, to my satisfaction, that he is an officer
                of
                INDIGO-ENERGY, INC. (the “Corporation”),
                a corporation of the State of Nevada and that the seal affixed to
                the
                foregoing instrument was signed and sealed on behalf of the Corporation
                by
                authority of its Board of Directors, and that he acknowledged said
                instrument to be the free act and deed of the Corporation.

               

              Signed
                and sworn to before me on July __, 2007

               

              _____________________________

              Notary
                Public of the State of

            

    

    

    

    

    
      	
              FALCON
                HOLDINGS, LLC

               

            
	
              aDavid
                E Workman SR

            
	 
	
              Lenny
                Stafford

            
	 
	
              STATE
                OF

            	
              )

            
	 	 	
              ss:

            
	
              COUNTY
                OF

            	
              )

            
	
               

              I
                certify that on July __, 2007, David Workman and Lenny Stafford personally
                came before and acknowledged under oath, to my satisfaction, that
                (a) he
                is named in and personally signed this document; and (b) signed,
                sealed
                and delivered this document as his act and deed.

               

              Signed
                and sworn to before me on July__, 2007

               

              _____________________________

              Notary
                Public of the State of

            

    

    

    
      
        
        

      

      
        3CONSULTING
      AGRERMENT- PP- III

     

    This
      Consulting Agreement is by and between Indigo-Energy, Inc., (IEI) a Nevada
      Corporation located at 701 N. Greene Valley Pkwy, Suite 200, Henderson, NV
      89074, and Paul Pichardo (PP) an individual, who resides at HC 67, Box 49B,
      Hundred, WV 26575, collectively referred to as “The Parties.”

     

    WHEREAS,
      IEI is a developer of energy related properties, and 

     

    WHEREAS,
      PP is a specialist in completion and maintenance of gas wells in the Appalachian
      Basin, and 

     

    NOW,
      THEREFORE, in consideration of the mutual covenants provided herein, the Parties
      agree as follows:

     

    Services. 

     

    PP
      will
      perform ongoing duties under the direction of IEI’s President under the
      following parameters:

     

    
      	 	
              1.

            	
              Provide
                consulting services and support for the Indigo property regarding
                progress
                made with the various contractors on the Indigo property, and will
                report
                back once per week as give an update as to progress
                made.

            

    

     

    
      	 	
              2.
                

            	
              Provide
                consulting services in support of the completion of the Indigo Wells
                #1,
                #2, and #3. 

            

    

     

    Compensation.
      IEI
      shall compensate PP for their services as follows:

     

    
      	 	
              1-

            	
              One
                thousand dollars ($1,000) to be paid on or about July 15, 2007
                

            

    

     

    
      	 	
              2-

            	
              One
                Thousand dollars ($1,000) to be paid on or about August 15, 2007
                

            

    

     

    Independent
      Contractor and No Agency Relationship.
      PP shall
      be paid as an independent contractor with no employee relationship or agency
      and
      principal relationship and shall thereby be responsible for all its own taxes,
      insurance, licenses, fee and expenses related to its business and this
      Agreement.

     

    Termination.
      Given
      the short term of this engagement, there is no option to terminate on either
      Parties part. 

     

    Governing
      Law.
      This
      Agreement is being executed under and will be governed by the laws of the State
      of Nevada.

     

    Term.
      The term
      of this Agreement is two-months commencing July 15, 2007. 

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS THEREOF, the Parties have executed this Agreement effective as of the
      date signed below. 

     

    
      	For Indigo-Energy, Inc.	
            	 
	 	
            	 
	
              /s/ David
                Larson                                         
                

            	7/25/07                           
               	 
	David
              Larson, President	Date	 
	 	 	 
	 	 	 
	Paul
              Pichardo,	 	 
	 	 	 
	/s/
              Paul
              Pichardo                              	###-##-####                      
              	7/25/07                                 
              
	An
              individual   	SSAN	Date
	 	 	 

    

     

    
      
        
        

      

      
        2

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