Document:

EX-10

ASSET OPTION & PURCHASE AGREEMENT

THIS AGREEMENT dated for reference April 22, 2007.

BETWEEN:

Jerry Capehart, 4943 Garden Grove Road, Grand Prairie, Texas 75052   (the ”seller”)

AND:

Fero Industries Inc., duly incorporated under the laws of the State of Colorado and having an office at 17 Reeves Crescent, Red Deer. AB T4P 2Z4 (the "Purchaser")

W H E R E A S:

A.

The Seller is the owner of a certain Internet domain names more particularly described in Schedule "A" attached hereto which forms a material part hereof (collectively, the "Option");

B.

The Seller has agreed to sell and the Purchaser has agreed to purchase a 100% right, interest and title in some eighteen domain names relating to the oil and gas industry collectively the “domain names”.

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants and provisos herein contained, 

THE PARTIES HERETO AGREE AS FOLLOWS:

1.

SELLER’S REPRESENTATIONS

1.1

The Seller represents and warrants to the Purchaser that:

(a)

The Seller is the beneficial owner of the domain names and holds the right to transfer said domain names and establish websites for each one and links from one site to another where indicated;

(b)

The Seller holds the Domain names free and clear of all liens, charges and claims of others.;

(c)

There are no adverse claims or challenges against or to the Seller’s ownership of the domain names nor to the knowledge of the Seller is there any basis therefore and there are no outstanding agreements or options to acquire or purchase the names or any portion thereof;

(d)

The Seller has the full right, authority and capacity to enter into this Agreement without first obtaining the consent of any other person or body corporate and the consummation of the transaction herein contemplated will not conflict with or result in any breach of any covenants or agreements contained in, or constitute a default under, or result in the creation of any encumbrance under the provisions of any indenture, agreement or other instrument whatsoever to which the Seller is a party or by which he is bound or to which he is subject; and

(f)

No proceedings are pending for, and the Seller is unaware of any basis for, the institution of any proceedings which could lead to the placing of either Seller in bankruptcy, or in any position similar to bankruptcy.

1.2

The representations and warranties of the Seller set out in paragraph 1.1 above form a part of this Agreement and are conditions upon which the Purchaser has relied in entering into this Agreement and shall survive the acquisition of any interest in the domain names by the Purchaser.

2.

THE PURCHASER'S REPRESENTATIONS

The Purchaser warrants and represents to the Seller that it is a body corporate, duly incorporated under the laws of the State of Colorado with full power and absolute capacity to enter into this Agreement and that the terms of this Agreement have been authorized by all necessary corporate acts and deeds in order to give effect to the terms hereof.

3.

OPTION AND SALE OF DOMAIN NAMES

The Seller hereby sells, grants and devises to the Purchaser a 100% undivided right, title and interest in and to the eighteen domain names for a total purchase price of $10,000 per domain name for a total consideration of $180,000 and 500,000 shares of the purchaser’s common stock bearing appropriate trading restrictions. Purchaser agrees to advance a $5,000.00 good faith deposit (to be deducted from the final purchase price at closing) and the 500,000 shares of common stock both of which shall be non-refundable.

4.

CLOSING

The sale and purchase of the interest in the Lease shall be closed concurrently with the execution of this Agreement at 5:30 P.M. on June 30, 2008 at the offices of the Seller, or such other place and time acceptable to both parties.

5.

FORCE MAJEURE

If the Purchaser is prevented from or delayed in complying with any provisions of this Agreement by reason of strikes, labor disputes, lockouts, labor shortages, power shortages, fires, wars, acts of God, governmental regulations restricting normal operations or any other reason or reasons beyond the control of the Purchaser, the time limited for the performance of the various provisions of this Agreement as set out above shall be extended by a period of time equal in length to the period of such prevention and delay, and the Purchaser, insofar as is possible, shall promptly give written notice to the Seller of the particulars of the reasons for any prevention or delay under this section, and shall take all reasonable steps to remove the cause of such prevention or delay and shall give written notice to the Seller as soon as such cause ceases to exist.

6.

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement to date between the parties hereto and supersedes every previous agreement, communication, expectation, negotiation, representation or understanding, whether oral or written, express or implied, statutory or otherwise, between the parties with respect to the subject matter of this Agreement.

7.

NOTICE

       7.1

Any notice required to be given under this Agreement shall be deemed to be well and sufficiently given if delivered to the other party at its respective address first noted above, and any notice given as aforesaid shall be deemed to have been given, if delivered, when delivered, or if mailed, on the fourth business day after the date of mailing thereof.

       7.2

Either party may from time to time by notice in writing change its address for the purpose of this paragraph.

8.

RELATIONSHIP OF PARTIES

Nothing contained in this Agreement shall, except to the extent specifically authorized hereunder, be deemed to constitute either party a partner, agent or legal representative of the other party.

9.

FURTHER ASSURANCES

The parties hereto agree to do or cause to be done all acts or things necessary to implement and carry into effect the provisions and intent of this Agreement.

10.

TIME OF ESSENCE

Time shall be of the essence of this Agreement.

11.

TITLES

The titles to the respective sections hereof shall not be deemed a part of this Agreement but shall be regarded as having been used for convenience only.

12.

NONSEVERABILITY

This Agreement shall be considered and construed as a single instrument and the failure to perform any of the terms and conditions in this Agreement shall constitute a violation or breach of the entire instrument or Agreement and shall constitute the basis for cancellation or termination.

14.

APPLICABLE LAW

The situs of the Agreement is Grand Prairie, TX and for all purposes this Agreement will be governed exclusively by and construed and enforced in accordance with the laws prevailing in the State of Texas.

15.

INUREMENT

This Agreement shall inure to the benefit of and be binding upon the Parties hereto and their respective successors and assigns.

IN WITNESS WHEREOF this Agreement has been executed as of the day and year first above written.

PURCHASER: FERO INDUSTRIES INC.

 

                           Per: ____________________________

                                    Kyle Schlosser, President

         

    

SELLER:    

          ____________________________

                                   Jerry Capehart

     

SCHEDULE "A"

PURCHASE AGREEMENT DOMAIN NAMES

1.

oil-n-gasbrokerage.net

2.

oil-n-gasintersts.com

3.

oil-n-gasacquisitions.com

4.

oil-n-gasinvesting.com

5.

oil-n-gasworkingintersts.com

6.

oil-n-gasventures.com

7.

oil-n-gasproductiondeals.com

8.

oil-n-gaslistings.com

9.

oil-n-gasdealsforsale.com

10.

oil-n-gasclassified.com

11.

rigavailability.com

12.

riglocator.com

13.

rentdrillingrigs.com

14.

oilrigbuilders.com

15.

leaseadrillingrig.com

16.

finddrillingrigs.com

17.

oil-n-gaspipe.com

_______________________________

     Jerry Capehart

    ________________________________     

    Kyle SchlosserTHE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT"), AND ARE PROPOSED TO BE IS

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT"), AND ARE PROPOSED TO BE ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE ACT.   UPON ANY SALE, SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT.  HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT. 

Fero Industries Inc.

SUBSCRIPTION AGREEMENT made as of this ____ day of _____________, 2007 between Fero Industries Inc., a Colorado corporation with its principal office at 17 Reeves Cr., Red Deer, AB T4P 2Z4 (the "Company") and the undersigned (the "Subscriber").

WHEREAS:

A.

The Company desires to issue a maximum of 3,500,000 shares of common stock of the Company at a price of $0.01 per share (the "Offering") pursuant to Regulation S of the United States Securities Act of 1933 (the “Act”).

B.

The Subscriber desires to acquire the number of shares of the Offering set forth on the signature page hereof (the "Shares") on the terms and subject to the conditions of this Subscription Agreement.

NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows:

SUBSCRIPTION FOR SHARES

Subject to the terms and conditions hereinafter set forth, the Subscriber hereby subscribes for and agrees to purchase from the Company such number of Shares as is set forth upon the signature page hereof at a price equal to US$ 0.01 per Share.  Upon execution, the subscription by the Subscriber will be irrevocable.

 The purchase price is payable by the Subscriber contemporaneously with the execution and delivery of this Subscription Agreement.

Upon execution by the Company, the Company agrees to sell such Shares to the Subscriber for said purchase price subject to the Company's right to sell to the Subscriber such lesser number of Shares, as it may, in its sole discretion, deem necessary or desirable.

Any acceptance by the Company of the Subscriber is conditional upon compliance with all securities laws and other applicable laws of the jurisdiction in which the Subscriber is resident.  Each Subscriber will deliver to the Company all other documentation, agreements, representations and requisite government forms required by the lawyers for the Company as required to comply with all securities laws and other applicable laws of the jurisdiction of the Subscriber.  The Company will not grant any registration or other qualification rights to any Subscriber.

The Subscriber agrees not to engage in hedging transactions with regard to the Shares unless in compliance with the Act.

The Subscriber acknowledges and agrees that all certificates representing the Shares will be endorsed with the following legend:

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

The Subscriber and the Company agree that the Company will refuse to register any transfer of the Shares not made in accordance with the provisions of Regulation S of the Act, pursuant to registration under the Act, or pursuant to an available exemption from registration.

REPRESENTATIONS AND WARRANTIES BY SUBSCRIBER

v

The Subscriber recognizes that the purchase of Shares involves a high degree of risk in that the Company has only recently commenced its proposed business and may require substantial funds in addition to the proceeds of this private placement; 

v

An investment in the Company is highly speculative and only investors who can afford the loss of their entire investment should consider investing in the Company and the Shares;

v

The Subscriber has had full opportunity to review information regarding the business and financial condition of the Company with the Subscriber’s legal and financial advisers prior to execution of this Subscription Agreement;

v

The Subscriber has such knowledge and experience in finance, securities, investments, including investment in non-listed and non-registered securities, and other business matters so as to be able to protect its interests in connection with this transaction.

v

The Subscriber acknowledges that no market for the Shares presently exists and none may develop in the future and accordingly the Subscriber may not be able to liquidate its investment.

v

The Subscriber hereby acknowledges that this offering of Shares has not been reviewed by the United States Securities and Exchange Commission (the "SEC") and that the Shares are being issued by the Company pursuant to an exemption from registration provided by Regulation S pursuant to the United States Securities Act. 

v

The Subscriber is acquiring the Shares as principal for the Subscriber's own benefit;

v

The Subscriber is acquiring the Shares subscribed to hereunder as an investment for the Subscriber's own account, not as a nominee or agent, and not with a view toward the resale or distribution of any part thereof, and the Subscriber has no present intention of selling, granting any participation in, or otherwise distributing the same;

v

The Subscriber does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participation to such person, or to any third person, with respect to any of the Shares sold hereby;

v

The Subscriber has full power and authority to enter into this Agreement which constitutes a valid and legally binding obligation, enforceable in accordance with its terms;

v

Subscriber can bear the economic risk of this investment, and was not organized for the purpose of acquiring the Shares;

v

The Subscriber has satisfied himself or herself as to the full observance of the laws of his or her jurisdiction in connection with any invitation to subscribe for the Shares and/or any use of this Agreement, including (i) the legal requirements within his/her jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale, or transfer of the Shares.

REPRESENTATIONS BY THE COMPANY

The Company represents and warrants to the Subscriber that:

o

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

o

Upon issue, the Shares will be duly and validly issued, fully paid and non-assessable common shares in the capital of the Company.

o

The issued and outstanding shares of the Company consist of 1,500,000 shares of the Company’s common stock prior to the completion of the issue of any shares of the Company’s common stock pursuant to this Offering.

TERMS OF SUBSCRIPTION

Pending acceptance of this subscription by the Company, all funds paid hereunder shall be deposited by the Company and immediately available to the Company for the purposes set forth in the disclosure statement.  In the event the subscription is not accepted, the subscription funds will constitute a non-interest bearing demand loan of the Subscriber to the Company.

The Subscriber hereby authorizes and directs the Company to deliver the securities to be issued to such Subscriber pursuant to this Subscription Agreement to the Subscriber’s address indicated herein.

The Subscriber acknowledges and agrees that the subscription for the Shares and the Company's acceptance of the subscription is not subject to any minimum subscription for the Offering.

MISCELLANEOUS

Any notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified mail, return receipt requested, addressed to the Company, at its principal office, at 17 Reeves Cr., Red Deer, AB  T4P 2Z4, Attention: Mr. Gordan Fuller, President, and to the Subscriber at his address indicated on the last page of this Subscription Agreement. Notices shall be deemed to have been given on the date of mailing, except notices of change of address, which shall be deemed to have been given when received.

Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed in accordance with and governed by the laws of the State of Colorado.

The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Subscription Agreement.

REPRESENTATIONS BY ALBERTA, BRITISH COLUMBIA, ONTARIO AND QUEBEC RESIDENTS

7.1

If the Subscriber is a resident of Canada, the Subscriber represents to the Company that the Subscriber is:  

(i)

a spouse, parent, brother, sister or child of _______________________, a 

(ii)

senior officer or director of the Company;

(ii)

a close friend or business associate of Gordan Fuller a senior officer or director of the Company, or

(iii)

a company, all of the voting securities of which are beneficially owned by one or more of a spouse, parent, brother, sister, child or close personal friend or business associate of ____________________, a senior officer or director of the Company.

IN WITNESS WHEREOF, this Subscription Agreement is executed as of the day and year first written above.

Subscriber Signature:_____________________________          DATE:___________

Number of Shares: ____________

Issue Certificate(s) as follows:

Name on certificate: ______________________________________________________

Address: ________________________________________________________________

Phone number: __________________________________________________________

Accepted by: ____________________________________________

Name of Authorized Signatory:  Kyle Schlosser, President

1

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