Document:

Doral Energy Corp.: Exhibit 10.41 - Filed by newsfilecorp.com

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933 (THE "ACT"), AND ARE BEING OFFERED AND SOLD IN
RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE ACT. SUCH
SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED
UNLESS THEY ARE REGISTERED UNDER THE APPLICABLE PROVISIONS OF THE ACT OR ARE
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE ACT. THESE SECURITIES HAVE NOT
BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR BY ANY
STATE SECURITIES ADMINISTRATION OR REGULATORY AUTHORITY.

LOAN AND CANCELLATION OF CONVERTIBLE NOTE
AGREEMENT

THIS AGREEMENT dated as of the 3rd day of March,
2010

BETWEEN:

DORAL ENERGY CORP., a
Nevada corporation with a 
corporate office at West Wall, Suite 500, Midland,
TX 79701

(hereinafter called the "Company")

OF THE FIRST PART

AND:

EDWARD AJOOTIAN, an
individual having an address at 
85 Robert Street Suite 32, Boston MA
02131

(hereinafter called the "Lender")

OF THE SECOND PART

WHEREAS:

A. Pursuant to a subscription agreement between the Company and
the Lender accepted by the Company on or about December 14, 2009, the Company
issued to the Lender a convertible note in the principal amount of $200,000 (the
“Convertible Note”);

B. The Lender has agreed to lend to the Company an additional
$50,000 and to cancel the Convertible Note on the terms and conditions set forth
in this Agreement, 

NOW THEREFORE THIS AGREEMENT WITNESSES THAT for good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto mutually covenant and agree as follows:

1. INTERPRETATION

1.1. Definitions. Where used herein or in any amendment
hereto each of the following words and phrases shall have the meanings set forth
as follows:

	 	(a) 	
      “Convertible Note Indebtedness” means the principal
      amount of the Convertible Note, being $200,000;

	 	 	 
	 	(b) 	
      "Event of Default" means any event set forth in Section
      7.1;

	 	 	 
	 	(c) 	
      “Exchange Act” means the Securities Exchange Act of 1934,
      as amended;

2

	 	(d) 	
      “Loan Amount” means the sum of $50,000;

	 	 	 
	 	(e) 	
      “Promissory Notes” means the promissory notes issued by
      the Company to the Lender pursuant to Sections 2.4 and 3.4;

	 	 	 
	 	(f) 	
      “Maturity” means May 1, 2010;

	 	 	 
	 	(g) 	
      “Securities Act” means the Securities Act of 1933, as
      amended;

	 	 	 
	 	(h) 	
      “Warrant” means a share purchase warrant entitling the
      holder thereof to purchase one (1) Warrant Share at the Warrant Exercise
      Price for the Warrant Term. The form of certificate for the Warrants and
      the terms and conditions applicable to the Warrant shall be substantially
      similar to that attached as Schedule B hereto;

	 	 	 
	 	(i) 	
      “Warrant Exercise Price” means the exercise price of the
      Warrants, being $0.05 per share;

	 	 	 
	 	(j) 	
      “Warrant Shares” means the shares of the Company’s common
      stock issuable upon exercise of the Warrants; and

	 	 	 
	 	(k) 	
      “Warrant Term” means the period during which a Warrant
      may be exercised by the registered holder thereof, beginning on the date
      the Warrant is issued and ending at 5:00pm Pacific Time on the day that is
      three (3) years after the date the Warrant is issued, subject to the
      Company's right to accelerate the Warrant Term as set out in the terms and
      conditions of the Warrant.

1.2. Number and Gender. Wherever the singular or the
masculine are used herein the same shall be deemed to include the plural or the
feminine or the body politic or corporate where the context or the parties so
require.

1.3. Headings. The headings to the articles, paragraphs,
subparagraphs or clauses of this Agreement are inserted for convenience only and
shall not affect the construction hereof.

1.4. References. Unless otherwise stated a reference
herein to a numbered or lettered article, paragraph, subparagraph or clause
refers to the article, paragraph, subparagraph or clause bearing that number or
letter in this Agreement. A reference to this Agreement or herein means this
Loan and Amendment to Convertible Note Agreement, including the Schedules
hereto, together with any amendments thereof.

1.5. Currency. All dollar amounts expressed herein refer
to lawful currency of The United States of America.

2. LOAN

2.1. Loan and Repayment. The Lender agrees to lend to
the Company the Loan Amount. The Lender agrees to repay the Loan Amount on or
before the Maturity Date.

2.2. Interest. The Company shall pay interest on the
Loan Amount at the rate of 15% per annum, calculated annually, not in advance,
from the date the Loan Amount is advanced to the Company and payable on the
Maturity Date. After the Maturity Date, the Company shall pay interest on the
Loan Amount and any accrued and unpaid interest at the aforesaid rate.

2.3. Advances. The Loan Amount shall be advanced by the
Lender to the Company on execution of this Agreement, in the form of certified
check, bank draft or wire transfer.

2.4. Promissory Note – Loan Amount. Upon receipt of the
Loan Amount, the Company shall issue to the Lender a promissory note in the
principal amount of the Loan Amount and in the form set out in Schedule A
hereto.

3

2.5. Pre-Payment – Loan Amount. The Company shall not
have the right to pre-pay all or any portion of the Loan Amount prior to the
Maturity Date.

3. CONVERTIBLE NOTE INDEBTEDNESS

3.1. Repayment of Convertible Note Indebtedness. The
Company agrees to repay the Convertible Note Indebtedness on or before the
Maturity Date.

3.2. Interest on Convertible Note Indebtedness. The
Company shall pay interest on the Convertible Note Indebtedness at the rate of
15% per annum, calculated annually, not in advance, from December 14, 2009 and
payable on the Maturity Date. After the Maturity Date, the Company shall pay
interest on the Convertible Note Indebtedness and any accrued and unpaid
interest at the aforesaid rate.

3.3. Surrender and Cancellation of Convertible Note. The
Lender shall surrender the Convertible Note to the Company for cancellation and
hereby agrees to remise, release and forever discharge the Company and its
officers, directors, servants and agents (collectively, the “Company Releasees”)
from any and all actions, causes of action, suits, debts, dues, sums of money,
claims, demands and obligations whatsoever, in law or in equity, and whether
known or unknown, suspected or unsuspected, which the Lender has or may in the
future have against the Company Releasees or any of them in connection with or
arising from the Convertible Note. This release is not intended to release the
Company from its obligation to pay the Convertible Note Indebtedness and
interest payable thereon pursuant to this Agreement.

3.4. Promissory Note – Convertible Note Indebtedness.
Upon receipt of the Convertible Note for cancellation, the Company shall issue
to the Lender a promissory note in the principal amount of the Convertible Note
Indebtedness and in the form set out in Schedule A hereto.

3.5. Pre-Payment – Convertible Note Indebtedness. The
Company shall not have the right to pre-pay all or any portion of the
Convertible Note Indebtedness prior to the Maturity Date.

4. SHARE PURCHASE WARRANTS

4.1. Share Purchase Warrants. Upon receipt of the Loan
Amount, the Company shall issue to the Lender Warrants to purchase up to
2,000,000 Warrant Shares at the Warrant Exercise Price for the Warrant Term.

4.2. Restricted Securities. The Lender acknowledges that
the Warrants, and the Warrant Shares will be “restricted securities” within the
meaning of the Securities Act and will be issued to the Lender in accordance
with an exemption from the registration requirements of the Securities Act
provided by Rule 506 of Regulation D of the Securities Act based on the
representations and warranties of the Lender in this Agreement.

4.3. Restrictions on Transfer. The Lender agrees to
resell or transfer the Warrants, and the Warrant Shares, pursuant only to an
effective registration under the Securities Act or to an available exemption
from the registration requirements of the Securities Act and that the Company
may refuse to register any resale or transfer not made pursuant to an effective
registration under the Securities Act or to an available exemption from the
registration requirements of the Securities Act.

4.4. Legend. The Lender acknowledges and agrees that all
certificates representing the Warrants and Warrant Shares will be endorsed with
a restrictive legend substantially similar to the following in accordance with
Regulation D of the Securities Act or such similar or other legends as deemed
advisable by the lawyers for the Company to ensure compliance with the
Securities Act and any other applicable laws or regulations:

	
      “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE
      NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT"),
      AND HAVE BEEN OFFERED AND SOLD IN RELIANCE UPON EXEMPTIONS FROM THE
      REGISTRATION REQUIREMENTS OF THE ACT. SUCH SECURITIES MAY NOT BE
      REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED UNLESS THEY
      ARE 

	 

4

	
      REGISTERED UNDER THE APPLICABLE PROVISIONS OF THE ACT
      OR PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE ACT.” 

5. EXTENSIONS & WAIVER

5.1. Extensions. The Lender may grant extensions as the
Lender may see fit without prejudice to the liability of the Company or to the
Lender's rights under this Agreement or under the Promissory Notes.

5.2. Waiver. The Lender may waive any breach by the
Company of this Agreement or of any default by the Company in the observance or
performance of any covenant or condition required to be observed or performed by
the Company hereunder or under the Promissory Notes. No failure or delay on the
part of the Lender to exercise any right, power or remedy given herein or by
statute or at law or in equity or otherwise shall operate as a waiver thereof,
nor shall any single or partial exercise of any right preclude any other
exercise thereof or the exercise of any other right, power or remedy, nor shall
any waiver by the Lender be deemed to be a waiver of any subsequent similar or
other event.

6. REPRESENTATIONS AND WARRANTIES

6.1. Representations, Warranties and Covenants of the
Lender. The Lender represents, warrants and covenants to and with the
Company as follows, and acknowledges that the Company is relying upon such
representations, warranties and covenants in entering into this Agreement:

	 	(a) 	
      The Lender has read the definition of an “accredited
      investor” provided in Rule 501 of Regulation D of the Securities Act and
      the Lender qualifies as an "accredited investor" as so defined.

	 	 	 
	 	(b) 	
      The Lender acknowledges that an investment in the Company
      is highly speculative, and involves a high degree of risk as the Company
      is in the early stages of developing its business, and may require
      substantial funds in addition to the proceeds of this private placement,
      and that only persons who can afford the loss of their entire investment
      should consider investing in the Company. The Lender is an investor in
      securities of businesses in the development stage and acknowledges that
      the Lender is able to fend for himself/herself/itself, can bear the
      economic risk of the Lender's investment, and has such knowledge and
      experience in financial or business matters such that the Lender is
      capable of evaluating the merits and risks of an investment in the
      Company’s securities as contemplated in this Agreement.

	 	 	 
	 	(c) 	
      If the Lender is not an individual, was not organized for
      the purpose of acquiring the Company’s securities.

	 	 	 
	 	(d) 	
      The Lender has had full opportunity to review the
      Company’s periodic filings with the SEC pursuant to the Exchange Act,
      including, but not limited to, the Company’s annual reports, quarterly
      reports, current reports and additional information regarding the business
      and financial condition of the Company. The Lender has had full
      opportunity to ask questions and receive answers from the Company
      regarding this information, and to review and discuss this information
      with the Lender's legal and financial advisors. The Lender believes
      he/she/it has received all the information he/she/it considers necessary
      or appropriate for deciding whether to invest in the Company and that the
      Lender has had full opportunity to discuss this information with the
      Lender’s legal and financial advisors prior to executing this
      Agreement.

	 	 	 
	 	(e) 	
      The Lender acknowledges that the offering of the
      Company’s securities contained in this Agreement has not been reviewed by
      the SEC and that the Warrants are being, and that the Warrant Shares will
      be, issued by the Company pursuant to an exemption from registration under
      the Securities Act.

5

	 	(f) 	
      The Lender understands that the Warrants and the Warrant
      Shares will be characterized as "restricted securities" under the
      Securities Act as they are being acquired from the Company in a
      transaction not involving a public offering and that, under the Securities
      Act and the regulations promulgated thereunder, such securities may be
      resold without registration under the Securities Act only in certain
      limited circumstances. The Lender represents that the Lender is familiar
      with SEC Rule 144, as presently in effect, and understands the resale
      limitations imposed thereby and by the Securities Act.

	 	 	 
	 	(g) 	
      The Warrants and the Warrant Shares will be acquired by
      the Lender for investment for the Lender's own account, not as a nominee
      or agent, and not with a view to the resale or distribution of any part
      thereof, and that the Lender has no present intention of selling, granting
      any participation in, or otherwise distributing the same. The Lender does
      not have any contract, undertaking, agreement or arrangement with any
      person to sell, transfer or grant participations to such person or to any
      third person, with respect to any of the Warrants or Warrant
  Shares.

	 	 	 
	 	(h) 	
      The Lender is not aware of any advertisement or general
      solicitation regarding the offer or sale of the Company’s
    securities.

	 	 	 
	 	(i) 	
      This Agreement has been duly authorized, validly executed
      and delivered by the Lender.

	 	 	 
	 	(j) 	
      The Lender has satisfied himself/herself/itself as to the
      full observance of the laws of the Lender's jurisdiction in connection
      with any invitation to subscribe for the Company’s or any use of this
      Agreement, including (i) the legal requirements within the Lender's
      jurisdiction for the purchase of the Warrants and the Warrant Shares; (ii)
      any foreign exchange restrictions applicable to such purchase; (iii) any
      governmental or other consents that may need to be obtained; (iv) the
      income tax and other tax consequences, if any, that may be relevant to an
      investment in the Warrants and the Warrant Shares; and (v) any
      restrictions on transfer applicable to any disposition of the Warrants and
      the Warrant Shares imposed by the jurisdiction in which the Lender is
      resident.

6.2. Representations. The Company represents and
warrants to the Lender, and acknowledges that the Lender is relying upon such
representations and warranties in entering into this Agreement, as follows:

	 	(a) 	
      The Company is a corporation duly organized, existing and
      in good standing under the laws of the State of Nevada and has the
      corporate power to conduct the business which it conducts and proposes to
      conduct.

	 	 	 
	 	(b) 	
      The Warrant Shares, when issued in accordance with the
      terms and conditions of the Warrants, will be duly and validly issued,
      fully paid and non-assessable shares of Common Stock in the capital of the
      Company.

	 	 	 
	 	(c) 	
      The Company has the capacity to enter into this
      Agreement, and the execution of this Agreement and the completion of the
      transactions contemplated hereby shall not be in violation any agreement
      to which the Company is a part.

7. EVENTS OF DEFAULT AND REMEDIES

7.1. Events of Default. Any one or more of the following
events, whether or not any such event shall be voluntary or involuntary or be
effected by operation of law or pursuant to or in compliance with any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body, shall constitute an Event of Default:

	 	(a) 	
      if the Company defaults in the payment of any monies due
      hereunder as and when the same is due;

6

	 	(b) 	
      if the Company defaults in the observance or performance
      of any other provision hereof;

	 	 	 
	 	(c) 	
      if the Company commits an act of bankruptcy or makes a
      general assignment for the benefit of its creditors or otherwise
      acknowledges its insolvency; or

	 	 	 
	 	(d) 	
      if the Company makes default in the due payment,
      performance or observance, in whole or in part, of any debt, liability or
      obligation of the Company to the Lender, whether secured hereby or
      otherwise.

7.2. Remedies Upon Default. Upon the occurrence of any
Event of Default and at any time thereafter, provided that the Company has not
by then remedied such Event of Default, the Lender may, in its discretion, by
notice to the Company, declare this Agreement to be in default. At any time
thereafter, while the Company shall not have remedied such Event of Default, the
Lender, in its discretion, may:

	 	(a) 	
      declare the Loan Amount, the Convertible Note
      Indebtedness and other monies owing by the Company to the Lender to be
      immediately due and payable;

	 	 	 
	 	(b) 	
      demand payment from the Company and exercise all remedies
      available to the Lender.

8. MISCELLANEOUS

8.1. Notices. Any notice required or permitted to be
given under this Agreement or the Promissory Note shall be in writing and may be
given by delivering same or mailing same by registered mail or sending same by
telegram, telex, telecopier or other similar form of communication to the
addresses first set out above. Any notice so given shall:

	 	(a) 	
      if delivered, be deemed to have been given at the time of
      delivery;

	 	 	 
	 	(b) 	
      if mailed by registered mail, be deemed to have been
      given on the fourth business day after and excluding the day on which it
      was so mailed, but should there be, at the time of mailing or between the
      time of mailing and the deemed receipt of the notice, a mail strike,
      slowdown or other labor dispute which might affect the delivery of such
      notice by the mails, then such notice shall be only effective if actually
      delivered; and

	 	 	 
	 	(c) 	
      if sent by telegraph, telex, telecopier or other similar
      form of communication, be deemed to have been given or made on the first
      business day following the day on which it was
sent.

Any party may give written notice of a change of address in the
aforesaid manner, in which event such notice shall thereafter be given to such
party as above provided at such changed address.

8.2. Amendments. Neither this Agreement nor any
provision hereof may be amended, waived, discharged or terminated orally, but
only by an instrument in writing signed by the party against whom enforcement of
the amendment, waiver, discharge or termination is sought.

8.3. Entire Agreement. This Agreement embodies the
entire agreement and understanding between the parties hereto and supersedes all
prior agreements and undertakings, whether oral or written, pertaining to the
subject matter hereof.

8.4. Action on Business Day. If the date upon which any
act or payment hereunder is required to be done or made falls on a day which is
not a business day, then such act or payment shall be performed or made on the
first business day next following.

8.5. No Merger of Judgment. The taking of a judgment on
any covenant contained herein or on any covenant set forth in any other security
for payment of any indebtedness hereunder or performance of the obligations
hereby secured shall not operate as a merger of any such covenant or affect the
Lender's right to interest at the rate and times provided in this Agreement on
any money owing to the Lender under any 

7

covenant herein or therein set forth and such judgment shall
provide that interest thereon shall be calculated at the same rate and in the
same manner as herein provided until such judgment is fully paid and
satisfied.

8.6. Severability. If any one or more of the provisions
of this Agreement should be invalid, illegal or unenforceable in any respect in
any jurisdiction, the validity, legality or enforceability of such provision
shall not in any way be affected or impaired thereby in any other jurisdiction
and the validity, legality and enforceability of the remaining provisions
contained herein shall not in any way be affected or impaired thereby.

8.7. Successors and Assigns. This Agreement shall enure
to the benefit of and be binding upon all parties hereto and their respective
heirs, personal representatives, successors and assigns, as the case may be.

8.8. Governing Law. This Agreement shall be governed by
and be construed in accordance with the laws of the State of Nevada and the
parties hereto agree to submit to the jurisdiction of the courts of Nevada with
respect to any legal proceedings arising herefrom.

8.9. Independent Legal Advice. This Agreement has been
prepared by O’Neill Law Group PLLC acting solely on behalf of the Company and
the Lender acknowledges that it has been advised to obtain independent legal
advice.

8.10. Time. Time is of the essence of this
Agreement.

8.11. Headings. The headings of the paragraphs of this
Agreement are inserted for convenience only and do not define, limit, enlarge or
alter the meanings of any paragraph or clause herein.

8.12. Counterparts. This agreement may be executed in
one or more counter-parts, each of which so executed shall constitute an
original and all of which together shall constitute one and the same
agreement.

IN WITNESS WHEREOF the parties hereto have caused this
Agreement to be duly executed and delivered as of the day and year first written
above.

	THE COMPANY: 	 
	  	 
	DORAL ENERGY CORP. 	 
	by its authorized signatory: 	 
	  	 
	  	 
	/s/ E. Willard
      Gray, II 	 
	Name: E. Willard Gray, II 	 
	Title: CEO 	 
	  	 
	  	 
	THE LENDER: 	 
	  	 
	  	 
	/s/ Edward
      Ajootian 	 
	EDWARD AJOOTIAN 	 

SCHEDULE A

FORM OF PROMISSORY NOTE

SCHEDULE A

FORM OF PROMISSORY NOTE

U.S. $

DORAL ENERGY CORP.

  (Incorporated under the laws of the State of Nevada)

15% PROMISSORY NOTE 

  DUE MAY 1, 2010

     FOR VALUE RECEIVED, DORAL ENERGY
  CORP. (herein referred to as the “Company”) promises to pay to 

	EDWARD AJOOTIAN
    
	(the “Lender”), the principal sum of 

on or prior to May 1, 2010 (the “Maturity Date”), and
  to pay interest on the principal sum outstanding, at the rate of 15% per annum,
  calculated annually, not in advance, from [INSERT DATE LOAN AMOUNT ADVANCED
  OR DECEMBER 14, 2009] and payable on the Maturity Date.

The Company waives presentment, demand, notice, protest and notice
  of dishonour and all other demands and notices in connection with the delivery,
  acceptance, performance, default or enforcement of this Promissory Note.

The Company agrees this Promissory Note may be negotiated, assigned,
  discounted, or pledged by the Lender and in every case payment will be made
  to the holder of this Promissory Note instead of the Lender upon notice being
  given by the holder to the undersigned, and no holder of this Promissory Note
  will be affected by the state of accounts between the undersigned and the Lender
  or by any equities existing between the undersigned and the Lender and will
  be deemed to be a holder in due course and for the value of the Promissory Note
  held by him.

     IN WITNESS WHEREOF, the Company
  has caused this instrument to be duly executed by an officer thereunto duly
  authorized.

	 	DORAL ENERGY CORP. 
	 	 
	 	[DO NOT SIGN. SAMPLE ONLY.] 
	 	By: 	
	 	 	E. Willard Gray, II, CEO 

SCHEDULE B

FORM OF WARRANT CERTIFICATE

SCHEDULE B

FORM OF WARRANT CERTIFICATE

THE SECURITIES REPRESENTED BY THIS CERTIFICATE AND THE SECURITIES
  TO BE ISSUED UPON ITS EXERCISE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
  ACT OF 1933 (THE “SECURITIES ACT”), AND HAVE BEEN ISSUED IN RELIANCE
  UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT PROVIDED
  BY REGULATION D PROMULGATED UNDER THE SECURITIES ACT. SUCH SECURITIES MAY NOT
  BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO
  AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT, OR PURSUANT TO AN AVAILABLE
  EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. THIS WARRANT MAY ONLY
  BE EXERCISED BY A PERSON WHO QUALIFIES AS AN “ACCREDITED INVESTOR”
  PURSUANT TO RULE 501 OF REGULATION D OF THE SECURITIES ACT.

DORAL ENERGY CORP.

  A NEVADA CORPORATION

COMMON STOCK PURCHASE 

  WARRANT CERTIFICATE NUMBER «Warrant_Cert_No»

«IssueDate»

	1. 	Issuance 

THIS IS TO CERTIFY THAT, for value received, «NAME_OF_SUBSCRIBER_»
  of «Address_of_Subscriber» (the “Holder”), shall have
  the right to purchase from DORAL ENERGY CORP., a Nevada corporation (the
  “Corporation”), «Number_Units» («No_of_Warrants»)
  fully paid and non-assessable shares of the Corporation’s common stock
  (the “Common Stock”), subject to further adjustment as set forth in
  Section 6 hereof, at any time until 5:00 P.M., Pacific time, on the «ExpireDay»
  day of «ExpireMonth», «ExpireYear» (the “Expiration
  Date”) at an exercise price of $0.05 per share (the "Exercise Price").

	2. 	Exercise of Warrants 

This Warrant is exercisable in whole or in partial allotments
  of no less than 1,000 shares at the Exercise Price per Share payable hereunder,
  payable in cash or by certified or official bank check. Upon surrender of this
  Warrant Certificate with the annexed Notice of Exercise Form duly executed,
  together with payment of the Exercise Price for the Shares purchased, the Holder
  shall be entitled to receive a certificate or certificates for the Shares so
  purchased. No fractional shares shall be issued in connection with any exercise
  of this Warrant. In lieu of the issuance of any fractional share, the Corporation
  shall round up or down the fractional amount to the nearest whole number.

	3. 	Reservation of Shares 

The Corporation hereby agrees that at all times during the term
  of this Warrant there shall be reserved for issuance upon exercise of this Warrant
  such number of Shares as shall be required for issuance upon exercise of this
  Warrant (the “Warrant Shares”). 

	4. 	Mutilation or Loss of Warrant 

Upon receipt by the Corporation of evidence satisfactory to it
  of the loss, theft, destruction or mutilation of this Warrant, and (in the case
  of loss, theft or destruction) receipt of reasonably satisfactory 

	DORAL ENERGY CORP. 	2 	 
	Common Stock Purchase 	  	 
	Warrant Certificate
      «Warrant_Cert_No» 	  	 

indemnification, and (in the case of mutilation) upon surrender
  and cancellation of this Warrant, the Corporation will execute and deliver a
  new Warrant of like tenor and date and any such lost, stolen, destroyed or mutilated
  Warrant shall thereupon become void.

	5. 	Rights of the Holder 

The Holder shall not, by virtue hereof, be entitled to any rights
  of a stockholder in the Corporation, either at law or equity, and the rights
  of the Holder are limited to those expressed in this Warrant and are not enforceable
  against the Corporation except to the extent set forth herein.

	6. 	Adjustments to Exercise Price for Stock Dividends,
      Stock Splits, Mergers, Recapitalizations, Etc. 

The Exercise Price and the number of shares which can be purchased
  by the Holder upon the exercise of this Warrant shall be subject to adjustment
  in the events and in the manner following:

	 	(a) 	 If and whenever the shares at any time outstanding shall
        be, subdivided into a greater or consolidated into a lesser, number of
        shares, the Exercise Price shall be decreased or increased proportionately
        as the case may be; upon any such subdivision or consolidation, the number
        of shares which can be purchased upon the exercise of this warrant certificate
        shall be increased or decreased proportionately as the case may be.

	 	 	 
	 	(b) 	 In case of any capital reorganization or of any reclassification
        of the capital of the Corporation or in case of the consolidation, merger
        or amalgamation of the Corporation with or into any other company, this
        Warrant shall after such capital reorganization, reclassification of capital,
        consolidation, merger or amalgamation confer the right to purchase the
        number of shares or other securities of the Corporation or of the Corporation
        resulting from such capital reorganization, reclassification, consolidation,
        merger or amalgamation, as the case may be, to which the Holder of the
        shares deliverable at the time of such capital reorganization, reclassification
        of capital, consolidation, merger or amalgamation, upon the exercise of
        this Warrant would have been entitled. On such capital reorganization,
        reclassification, consolidation, merger or amalgamation appropriate adjustments
        shall be made in the application of the provisions set forth herein with
        respect to the rights and interest thereafter of the Holder of this Warrant
        so that the provisions set forth herein shall thereafter be applicable
        as nearly as may reasonably be in relation to any shares or other securities
        thereafter deliverable on the exercise of this Warrant.

	 	 	 
	 	(c) 	 The rights of the Holder evidenced hereby are to purchase
        shares prior to or on the date set out on the face of this Warrant. If
        there shall, prior to the exercise of any of the rights evidenced hereby,
        be any reorganization of the authorized capital of the Corporation by
        way of consolidation, merger, subdivision, amalgamation or otherwise,
        or the payment of any stock dividends, then there shall automatically
        be an adjustment in either or both of the number of shares which may be
        purchased pursuant hereto or the price at which such shares may be purchased
        so that the rights evidenced hereby shall thereafter as reasonably as
        possible be equivalent to those originally granted hereby. The Corporation
        shall have the sole and exclusive power to make such adjustments as it
        considers necessary and desirable.

	 	 	 
	 	(d) 	 The adjustments provided for herein in the subscription
        rights represented by this Warrant are cumulative.

	DORAL ENERGY CORP. 	3 	 
	Common Stock Purchase 	  	 
	Warrant Certificate
      «Warrant_Cert_No» 	  	 

	7. 	Adjustment to Exercise Price for Additional
      Share Issuances 

If at any time and from time to time after the date this Warrant
  is issued, the Company issues or sells Additional Shares (as defined below)
  in any transaction other than a transaction described in Section 6 for an Effective
  Price (as defined below) less than the Exercise Price (subject to adjustment
  for any events after the date this Warrant is issued), then the existing Exercise
  Price shall be reduced, as of the day after such Additional Shares were issued
  or sold, to a price equal to the Effective Price.

	 	(a) 	 Additional Shares. “Additional Shares”
        means any shares of Common Stock issued or sold by the Company, or deemed
        to be issued or sold pursuant to this Section 7, after the date this Warrant
        is issued, whether or not subsequently reacquired or retired by the Company,
        other than shares of Common Stock (i) issued upon exercise of this Warrant,
        (ii) issued pursuant to any rights, options, warrants or other securities
        outstanding as of the date this Warrant is issued, and (iii) issued pursuant
        to any employee or consultant incentive plan or pursuant to any rights,
        options, warrants or other securities issued pursuant to any employee
        or consultant incentive plan.

	 	 	 
	 	(b) 	 Effective Price. For purposes of making any adjustment
        required under this Section 7, the “Effective Price” for a particular
        transaction means the number determined by the following formula:

	 	The total consideration received or deemed under
      this Section 7 
	 	to have
      been received by the Company for the Additional Shares in the particular
      transaction 
	 	The total number of Additional Shares issued
      or sold, or deemed to be issued or sold pursuant to 
	 	this Section 7, in the particular transaction
    

	 	(c) 	 Determination of Consideration. For
        the purpose of making any adjustment required under this Section 7:

	 	 	 	 
	 		(i) 	 To the extent it consists of cash, the consideration
        received by the Company for any issue or sale of Additional Shares shall
        be deemed to be the amount of cash received by the Company for such issue
        or sale before deducting any discounts, commissions or other expenses
        allowed, paid or incurred by the Company for any underwriting or otherwise
        in connection therewith;

	 	 	 	 
	 		(ii) 	 To the extent it consists of property other than cash,
        the consideration received by the Company for any issue or sale of Additional
        Shares shall be deemed to be the fair value of that property as determined
        in good faith by the Company’s board of directors;

	 	 	 	 
	 		(iii) 	 If Additional Shares are sold together with other stock
        or securities of the Company, or rights, options or other securities for
        the purchase of, or convertible into, Additional Shares or other stock
        or securities of the Company (collectively, the “Other Securities”)
        for consideration which covers both the Additional Shares and the Other
        Securities, the consideration received by the Company for the issue or
        sale of the Additional Shares shall be deemed to be the total amount of
        consideration received by the Company for the Additional Shares and such
        Other Securities, without any of such consideration allocation made to
        the Other Securities.

	DORAL ENERGY CORP. 	4 	 
	Common Stock Purchase 	  	 
	Warrant Certificate
      «Warrant_Cert_No» 	  	 

	 	(d) 	 Convertible Securities. For purposes
        of making any adjustment required under this Section 7, if rights, options
        or other securities for the purchase of, or convertible into, Additional
        Shares (collectively, the “Convertible Securities”), other than
        Convertible Securities issued pursuant to any employee or consultant incentive
        plan, are issued or sold by the Company after the date this Warrant is
        issued:

	 	 	 	 
	 		(i) 	 the Company shall be deemed to have issued the maximum
        number of Additional Shares issuable upon the exercise or conversion of
        such Convertible Securities (the “Underlying Shares”); and

	 	 	 	 
	 		(ii) 	 the Company shall be deemed to have received as consideration
        for the issuance of such Underlying Shares an amount equal to the sum
        of the total amount of consideration, if any, received by the Company
        for the issuance of such Convertible Securities plus the total exercise
        price or conversion price payable for the total amount of such Underlying
        Shares without regard to any cashless exercise, anti-dilution or other
        similar clauses.

Notwithstanding any other provision to the contrary, in the case
  of a dispute as to the calculation of the Exercise Price as a result of any
  adjustment made in accordance with Section 6 or Section 7, the Company’s
  calculation shall be deemed conclusive absent manifest error.

	8. 	Transfer to Comply with the Securities Act and
      Other Applicable Securities Legislation 

This Warrant and the Warrant Shares have not been registered
  under the Securities Act of 1933, as amended, (the “Securities Act”)
  and have been issued to the Holder for investment purposes and not with a view
  to the distribution of either the Warrant or the Warrant Shares. Each certificate
  for the Warrant, the Warrant Shares and any other security issued or issuable
  upon exercise of this Warrant shall contain a legend on the face thereof, in
  form and substance satisfactory to counsel for the Corporation, setting forth
  the restrictions on transfer contained in this Section. The Holder understands
  that this Warrant and the stock purchasable hereunder constitute “restricted
  securities” under federal securities laws and acknowledges that Rule 144
  of the Securities and Exchange Commission is not now, and may not in the future
  be, available for resale of this Warrant and/or the stock purchasable hereunder.
  By acceptance of this certificate, the Holder acknowledges and agrees that:

	 	(a) 	 The Holder is acquiring the Shares for its own account
        for investment, with no present intention of dividing its interest with
        others or of reselling or otherwise disposing of all or any portion of
        the same;

	 	 	 
	 	(b) 	 The Holder does not intend any sale of the Shares either
        currently or after the passage of a fixed or determinable period of time
        or upon the occurrence or non-occurrence of any predetermined event or
        circumstance;

	 	 	 
	 	(c) 	 The Holder has no present or contemplated agreement,
        undertaking, arrangement, obligation, indebtedness or commitment providing
        for or which is likely to compel a disposition of the Shares;

	 	 	 
	 	(d) 	 The Holder is not aware of any circumstances presently
        in existence which are likely in the future to prompt a disposition of
        the Shares;

	 	 	 
	 	(e) 	 The Shares were offered to the Holder in direct communication
        between the Holder and the Corporation and not through any advertisement
        of any kind;

	DORAL ENERGY CORP. 	5 	 
	Common Stock Purchase 	  	 
	Warrant Certificate
      «Warrant_Cert_No» 	  	 

	 	(f) 	 The Subscriber has the financial means to bear the economic
        risk of the investment which it hereby agrees to make;

All certificates representing the Warrant Shares will be endorsed
  with a legend substantially as follows:

“THE SECURITIES REPRESENTED BY
  THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
  “SECURITIES ACT”), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION
  FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT PROVIDED BY REGULATION
  D PROMULGATED UNDER THE SECURITIES ACT. SUCH SECURITIES MAY NOT BE REOFFERED
  FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE
  REGISTRATION UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION
  FROM REGISTRATION UNDER THE SECURITIES ACT.”

In addition, the Holder will comply with all other applicable
  securities legislation in addition to the Securities Act to which the Holder
  is subject in selling or transferring any Warrants or Warrant Shares and the
  Corporation may refuse to register any sale or transfer not in compliance with
  such other securities legislation.

	9. 	Warrant Acceleration 

At any time and from time to time after the date this Warrant
  is issued, the Company shall have the right to accelerate the expiration date
  of the Warrants (the “Acceleration Right”) if:

	 	(a) 	 A registration statement has been filed by the Company
        for the sale or resale of the Warrant Shares pursuant to the Securities
        Act and such registration statement has been declared effective;

	 	 	 
	 	(b) 	 The closing price for the Company’s common stock
        on the principal exchange or market on which the Company’s Common
        Stock trades is equal to or greater than $1.00 per share (subject to adjustment
        for forward or reverse stock splits, recapitalizations, stock dividends
        or other changes to the Company’s corporate or capital structure)
        for each of the 10 consecutive Trading Days prior to the date that the
        Company exercises the Acceleration Right (the “10 Day Period”);
        and

	 	 	 
	 	(c) 	 The total trading volume for the Company’s Common
        Stock on the principal exchange or market on which the Common Stock trades
        over the 10 Day Period is equal to or greater than 1,000,000 shares.

“Trading Day” means any day on which the principal
  exchange or market on which the Company;s Common Stock trades is open.

To exercise the Acceleration Right, the Company shall send written
  notice (an “Acceleration Notice”) of its intention to so exercise
  the Acceleration Right to the Holder within 5 business days after the end of
  the particular 10 Day Period. If the Company exercises the Acceleration Right,
  the Warrants shall expire at 5:00 PM Pacific time on the day that is 15 calendar
  days after the date that the Company first sends the Acceleration Notice to
  the Holder.

	DORAL ENERGY CORP. 	6 	 
	Common Stock Purchase 	  	 
	Warrant Certificate
      «Warrant_Cert_No» 	  	 

	10. 	Payment of Taxes 

The Corporation shall not be required to pay any tax or other
  charge imposed in connection with the exercise of this Warrant or a permissible
  transfer involved in the issuance of any certificate for shares issuable under
  this Warrant in the name other than that of the Holder, and in any such case,
  the Corporation shall not be required to issue or deliver any stock certificate
  until such tax or other charge has been paid or it has been established to the
  Corporation’s satisfaction that no such tax or other charge is due.

	11. 	Notices 

Any notice required or permitted hereunder shall be given in
  writing and shall be deemed effectively given upon, (a) by personal delivery
  or telecopy, or (ii) one business day after deposit with a nationally recognized
  overnight delivery service such as Federal Express, with postage and fees prepaid,
  addressed to each of the other parties thereunto entitled at the following addresses,
  or at such other addresses as a party may designate by written notice to each
  of the other parties hereto.

	CORPORATION: 	DORAL ENERGY CORP. 
	  	Attention: Willard Everett Gray, II 
	  	415 West Wall, Suite 500 
	  	Midland, TX 79701 
	  	  
	  	Tel: (432) 789-1180 
	  	  
	with a copy to: 	O’NEILL LAW GROUP PLLC 
	  	Attention: Christian I. Cu 
	  	435 Martin Street, Suite 1010 
	  	Blaine, Washington 98230 
	  	  
	  	Fax: (360) 332-2291 
	  	  
	HOLDER: 	At the address set forth above. 

	12. 	Governing Law 

This Warrant shall be deemed to be a contract made under the
  laws of the State of Nevada and for all purposes shall be governed by and construed
  in accordance with the laws of the State of Nevada applicable to contracts to
  be made and performed entirely within the State of Nevada.

IN WITNESS WHEREOF, the Corporation has caused this Warrant
  to be duly executed and delivered by its duly authorized officer.

DORAL ENERGY CORP. by its authorized signatory:

	[DO NOT SIGN – SAMPLE ONLY] 	 
	 	 
	Willard Everett Gray, III 	 
	Chief Executive Officer 	 

NOTICE OF EXERCISE FORM

	TO: 	DORAL ENERGY CORP. 
	  	A Nevada Corporation (the “Corporation”)
    

	Dear Sirs: 
	 
	 The undersigned (the “Subscriber”)
        hereby exercises the right to purchase and hereby subscribes for ___________________________
        shares (the “Shares”) of the common stock of Doral Energy Corp.
        referred to in the Common Stock Purchase Warrant Certificate «Warrant_Cert_No»
        surrendered herewith according to the terms and conditions thereof and
        herewith makes payment by cash, certified check or bank draft of the purchase
        price in full for the Shares in accordance with the Warrant. 

	 
	Please issue a certificate for the shares being purchased as
      follows in the name of the Subscriber: 

  	NAME: 	 
		    (Please Print) 
	  	 
	ADDRESS: 	 
	 	 
	 	 

The Subscriber represents and warrants to the Corporation that:

	(a) 	 The Subscriber has not offered or sold the Shares within
        the meaning of the United States Securities Act of 1933 (the “Securities
        Act”);

	 	 
	(b) 	 The Subscriber is acquiring the Shares for its own account
        for investment, with no present intention of dividing its interest with
        others or of reselling or otherwise disposing of all or any portion of
        the same;

	 	 
	(c) 	 The Subscriber does not intend any sale of the Shares
        either currently or after the passage of a fixed or determinable period
        of time or upon the occurrence or non-occurrence of any predetermined
        event or circumstance;

	 	 
	(d) 	 The Subscriber has no present or contemplated agreement,
        undertaking, arrangement, obligation, indebtedness or commitment providing
        for or which is likely to compel a disposition of the Shares;

	 	 
	(e) 	 The Subscriber is not aware of any circumstances presently
        in existence which are likely in the future to prompt a disposition of
        the Shares;

	 	 
	(f) 	 The Shares were offered to the Subscriber in direct
        communication between the Subscriber and the Corporation and not through
        any advertisement of any kind;

	(g) 	 The Subscriber has the financial means to
        bear the economic risk of the investment which it hereby agrees to make;

	 	 	 
	(h) 	 This subscription form will also confirm the
        Subscriber’s agreement as follows:

	 	 	 
		(i) 	 the Shares have not been registered under the Securities
        Act or applicable state “Blue Sky” laws and, therefore, the
        Shares may not be resold, transferred or hypothecated without the registration
        of the Shares, or an opinion of counsel satisfactory to the Corporation
        to the effect that such registration is not necessary.

	 	 	 
		(ii) 	 Only the Corporation can take action to register the
        Shares under the Securities Act or applicable state securities law or
        to comply with the requirements for an exemption under the Securities
        Act or applicable state securities law.

	 	 	 
		(iii) 	 The certificates representing the Shares will be endorsed
        with a legend substantially as follows:

	 	 	 
			 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE
        HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES
        ACT”), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE
        REGISTRATION REQUIREMENTS OF THE SECURITIES ACT PROVIDED BY REGULATION
        D PROMULGATED UNDER THE SECURITIES ACT. SUCH SECURITIES MAY NOT BE REOFFERED
        FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE
        REGISTRATION UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION
        FROM REGISTRATION UNDER THE SECURITIES ACT.”

	 	 	 
		(iv) 	 The Subscriber is an “accredited investor”,
        as defined in Rule 501 of Regulation D of the Securities Act.

Please deliver a share certificate in respect of the common shares
  referred to in the warrant certificate surrendered herewith but not presently
  subscribed for, to the Subscriber.

DATED this ______ day of _______________________, _______ .

  	Signature of Subscriber: 	 
	 	 
	 	 
	Name of Subscriber: 	 
	 	 
	 	 
	Address of Subscriber:Doral Energy Corp.: Exhibit 10.43 - Filed by newsfilecorp.com

AMENDMENT AGREEMENT TO 
DEBT SETTLEMENT 

THIS AMENDMENT AGREEMENT (the "Amendment Agreement") is
dated for reference as of the 12th day of March, 2010

BETWEEN:

DORAL ENERGY CORP., a
Nevada corporation 

(the "Borrower")

OF THE FIRST PART 

AND: 

War Chest Multi Strategy Fund
LLC, a Delaware limited liability corporation

 (the "Lender")

OF THE SECOND PART 

WHEREAS:

A. On or about March 8, 2010, the Borrower executed a debt
settlement agreement (the "Agreement") to the Lender, pursuant to which the
Borrower has agreed to settle all outstanding debt held by Lender, in the amount
of $35,000, in exchange for 1,060,606 of Doral Energy Corp Common Stock; and

B. The Borrower and the Lender wish to amend the terms of the
Agreement in the manner described below, 

For good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, THE PARTIES HEREBY AGREE AS
FOLLOWS:

A. Lender agrees that the $35,000.00
settled with Borrower was applicable to only interest and does not represent any
portion of the principal amount of the original WS Oil and Gas Limited
Convertible Note dated August 24, 2009; and 

B. Lender agrees that it will release
Borrower from any claims that additional amounts are due to Lender under such
Agreement 

C. This Amendment Agreement may be
executed in Counterparts which together shall form one and the same
instrument

IN WITNESS WHEREOF the parties
hereto have executed this Amendment Agreement as of the day and year first above
written

	Doral Energy Corp., 	 	War Chest Multi Strategy Fund LLC 
	  
A Nevada corporation 	 	  
a Delaware limited liability
      corporation 
	  	 	  
	By /s/ H.
      Patrick Seale 	 	By
      /s/ War Chest Capital Partners LLC 
  
	President and Chief Operating Officer 	 	Howard Blum

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]