Document:

Exhibit  10.1

                                 FARMOUT  AGREEMENT
                                 ------------------

      This Farmout Agreement (the "Farmout Agreement) is made this 10th day of
December, 2002, by and between USOil Corporation ("USO") and SCS Corporation
("SCS").

                                  R E C I T A L S:

      WHEREAS, USO has entered into that certain Accord de Portage de la
Production et des Royalties Entre La Republique de Guinee Et USOil Corp. (the
"Accord") executed by the parties on October 29, 2002 and made effective as of
December 2, 2002 by and between USO and the Republic of Guinea ("Guinea")
whereby USO has rights and obligations to explore and exploit oil and natural
gas resources in offshore Guinea.

      WHEREAS, USO desires to farmout 100% of its rights and obligations in and
under the Accord to SCS (the "Farmout").

      WHEREAS, SCS desires to obtain the Farmout of 100% of USO's rights and
obligations in and under the Accord.

      WHEREAS, USO and SCS have previously entered into that certain letter
agreement (the "Letter Agreement") dated November 8, 2002.

      NOW, THEREFORE, in consideration of the premises and mutual covenants and
agreements set forth herein and in the Letter Agreement and in reliance upon the
representations and warranties contained herein and therein, the parties hereto
covenant and agree as follows:

                                    ARTICLE I
                                  FARMOUT TERMS

1.1     Farmout.  USO  hereby  farmsout to SCS all of the rights and obligations
        -------
of USO in and under the Accord. The Accord is attached hereto as Exhibit 1.1 and
incorporated by this reference herein for all purposes, the same as if the
Accord were set forth herein verbatim. SCS hereby agrees (i) to each and all of
the terms and conditions included in the Accord and (ii) to perform all
obligations imposed upon the "Contractor" (as that term is defined in the
Accord) in and under the Accord.

1.2     Reaffirmation of Letter Agreement and Consideration.  USO and SCS hereby
        ---------------------------------------------------
reaffirm the terms of the Letter Agreement. The Letter Agreement is attached
hereto as Exhibit 1.2 and incorporated by this reference herein for all
purposes, the same as if the Letter Agreement were set forth herein verbatim.
The Letter Agreement sets forth, among other things, the consideration to be
paid by SCS to USO for this Farmout Agreement.

1.3    Assignment  of Farmout.  SCS may assign or sub-farmout any of its rights
       ----------------------
       in the Farmout pursuant to the requirements of Article 23 of the Accord.

<PAGE>
1.4   Permanent  Representative:
      --------------------------
      SCS agrees to have one person who shall be designated or nominated by USO
      as a permanent member of the Petroleum Operations Management Committee as
      described in Article 9 of the Accord.

1.5   Data and Petroleum Operations records:
      --------------------------------------
      SCS shall provide USO, at no cost and within thirty (30) days after SCS's
      generation or receipt of same, one complete set of all technical data and
      records generated during the operations conducted under the Accord. SCS
      shall within sixty (60) days after the date of execution hereof
      (hereinafter called the "Closing Date") return all technical, seismic, or
      other data/information heretofore furnished SCS by USO and SCS shall, if
      it chooses, be permitted to make a copy of all such data/information at
      SCS's sole cost and expense. SCS agrees that it shall catalog all the
      data/information SCS retrieves from the data vault maintained by Guinea
      and that it shall, at SCS's sole cost, place all such retrieved
      data/information on DVD ROM and supply one complete set of all such
      electronically-stored data/information to each of (i) the government of
      Guinea and (ii) USO.

1.6   Assignment of Overriding Royalty Interest:
      ------------------------------------------
      USO may at any time assign or convey all or a part of any Overriding
      Royalty Interest, or a right to the future receipt of such Overriding
      Royalty Interest, it may receive or become entitled to receive in and
      under the Letter Agreement and/or this Farmout Agreement.

1.7   Termination of the Farmout and this Farmout Agreement:
      ------------------------------------------------------
      The Farmout and this Farmout Agreement shall terminate automatically if
      SCS fails or refuses to comply with all of the terms and conditions
      included in this Farmout Agreement, the Accord (Exhibit 1.1) or the Letter
      Agreement (Exhibit 1.2) and such failure or refusal is not cured within
      ninety (90) days after SCS receives written notice from USO of a failure
      or refusal by SCS to comply; provided, however, that should the Accord
      prescribe a shorter period for cure, such shorter period shall in all
      events prevail. USO shall deliver to SCS any notices of non-compliance
      that USO receives from Guinea within five (5) business days next following
      the receipt by USO of any such notice(s) of non-compliance from Guinea.

                                    ARTICLE II
                      NO ASSUMPTION OF UNSPECIFIED LIABILITIES

      Except as may be set forth in this Farmout Agreement, the Letter Agreement
or the Accord, SCS shall have no obligation for and shall not assume or agree to
pay, perform or discharge, nor shall SCS be directly or indirectly responsible
or obligated for, any debts, obligations, contracts or liabilities of USO,
wherever or however incurred.

                                   ARTICLE III
                                  MISCELLANEOUS

     3.1     Notices.  All  notices and other communications provided for herein
             -------
shall be in writing and shall be duly given if delivered personally or sent by
registered or certified mail, return receipt requested, postage prepaid, or
overnight air courier guaranteeing next day delivery:

          (a)  If to USO, to:

                    Mr. Dinesh Shukla
                    US Oil Corporation
                    6775 Southwest Freeway, Suite 600
                    Houston, Texas 77074

<PAGE>
          (b)  If to SCS, to:

                    Mr. Kent  Watts
                    SCS Corporation
                    c/o Hyperdynamics Corporation
                    9700 Bissonnet, Suite 1700
                    Houston, Texas 77036

      All notices and communications shall be deemed to have been duly given: at
the time delivered by hand, if personally delivered; three days after being
deposited in the mail, postage prepaid, sent certified mail, return receipt
requested, if mailed; and the next day after timely delivery to the courier, if
sent by overnight air courier guaranteeing next day delivery. If a notice or
communication is mailed in the manner provided above within the time prescribed,
it is duly given, whether or not the addressee receives it.

     3.2     Binding Agreement.  This Farmout Agreement and the Letter Agreement
             -----------------
will be binding upon, inure to the benefit of and be enforceable by the parties
and their respective heirs, personal representatives, successors and assigns.

     3.3     Counterparts.  This Farmout Agreement may be executed in any number
             ------------
of counterparts, which taken together shall constitute one and the same
instrument and each of which shall be considered an original for all purposes.

     3.4     Section  Headings.  The  section headings contained in this Farmout
             -----------------
Agreement are for convenient reference only and shall not in any way affect the
meaning or interpretation of this Farmout Agreement.

     3.5     Entire Agreement; Amendment.  This Farmout Agreement, the documents
             ---------------------------
to be executed hereunder and the exhibits attached hereto constitute the entire
agreement among the parties hereto pertaining to the subject matter hereof and
supersede all prior agreements, understandings, negotiations and discussions,
whether oral or written, of the parties pertaining to the subject matter hereof,
and there are no warranties, representations or other agreements among the
parties in connection with the subject matter hereof except as specifically set
forth herein, or in exhibits hereto (i.e., the Accord and the Letter Agreement)
or in documents delivered pursuant hereto. No supplement, amendment, alteration,
modification, waiver or termination of this Farmout Agreement shall be binding
unless executed in writing by the parties hereto. All of the exhibits referred
to in this Farmout Agreement are hereby incorporated into this Farmout Agreement
by reference and constitute a part of this Farmout Agreement for all purposes,
the same as if they had been set forth separately herein verbatim.

     3.6     Survival.  All  warranties and representations herein shall survive
             --------
the Closing and shall be true and correct as of the date hereof and as of the
Closing Date. The respective representations, warranties, covenants and
agreements set forth in this Farmout Agreement shall survive the Closing for the
maximum period allowed by law.

     3.7     Public  Announcements.  The  parties  hereto  agree  that  prior to
             ---------------------
making any public announcement or statement with respect to the transactions
contemplated by this Farmout Agreement, the party desiring to make such public
announcement or statement shall consult with the other parties hereto and
exercise their best efforts to (i) agree upon the text of a joint public

<PAGE>
announcement or statement to be made by all of such parties or (ii) obtain
approval of the other parties hereto to the text of a public announcement or
statement to be made solely by the party desiring to make such public
announcement; provided, however, that if any party hereto is required by law to
make such public announcement or statement, then such announcement or statement
may be made without the approval of the other parties.

     3.8     Validity. The invalidity or unenforceability of any provision of
             --------
this Farmout Agreement shall not affect the validity or enforceability of any
other provisions of this Farmout Agreement, which shall remain in full force and
effect.

     3.9     Waiver.  No  waiver  by any party of any default or non-performance
             ------
shall be deemed a waiver of any subsequent default or non-performance, and no
waiver of any kind shall be effective unless set forth in writing and signed by
the party against whom such waiver is to be charged.

     3.10    Further  Assurances.  Each  party  covenants that at any time, and
             -------------------
from time to time, after the Closing Date, it will execute such additional
instruments and take such actions as may be reasonably requested by the other
parties to confirm or perfect or otherwise to carry out the intent and purposes
of this Farmout Agreement, including without limitation the
incorporated-by-reference Accord and Letter Agreement.

     3.11   Expenses. Unless otherwise specifically set forth to the contrary in
            --------
     this Farmout Agreement or in the attached Accord and Letter Agreement, all
     expenses incurred by the parties hereto in connection with or related to
     the authorization, preparation and execution of this Farmout Agreement and
     the Closing of the transactions contemplated hereby, shall be borne solely
     and entirely by the party which has incurred the same.

     3.12   Jurisdiction. The provisions of paragraph 9 of the Letter Agreement
            ------------
     shall be applicable and shall control as to the interpretation of this
     Farmout Agreement and as to the exclusive venue and jurisdiction applicable
     in any dispute which may arise hereunder.

IN WITNESS WHEREOF, the parties hereto have executed or caused this Farmout
Agreement to be executed effective as of the day and year first above written.

                                     US  Oil  Corporation

                                     By:
                                          --------------------------------------
                                          /s/ Dinesh Shukla, President

                                     SCS Corporation

                                     By:
                                          --------------------------------------
                                          /s/ Neil Moore, Director and President

                                     By:
                                          --------------------------------------
                                          /s/ Kent Watts, Director

<PAGE>Exhibit 10.1
                              ------------

                     Form of Stock Option Agreement

                          HEMPTOWN CLOTHING INC

                         STOCK OPTION AGREEMENT
-------------------------------------------------------------------------

     THIS OPTION AGREEMENT (the "Agreement") is entered into as of the
23rd day of November, 2001, by and between Hemptown Clothing Inc. (the
"Company"), and ________________________________ (the Option Holder").

WHEREAS:
--------

     The Company desires, by affording the Option Holder an opportunity
for investment in its Stock by the terms of this Agreement, to further
the objectives of the Company by providing a special incentive to the
Option Holder to continue his or her services to the Company and to
increase his or her efforts on behalf of the Company.

NOW THEREFORE THE PARTIES, in consideration of the mutual covenants
herein set forth, agree as follows:

1.   OPTION GRANT  Subject to the hereinafter provisions and including,
without limitation, the following vesting provisions, the Company hereby
grants to the Option Holder, as a matter of separate agreement and not in
lieu of salary or any other compensation for services, the right and
option (the "Option") to purchase all or any part of an aggregate of
__________ common shares of the authorized and unissued common stock of
the Company (collectively the "Option Shares") pursuant to the terms and
conditions as set forth in this Agreement.

2.   OPTION PRICE AND GRANT DATE. The purchase price of the Option Shares
will be $0.50 U.S. per share ( the "Option Price").  The date of action
by the Board of Directors in granting this Option was November 23, 2001
(the "Grant Date").

3.   OPTION PERIOD. The option period with respect to all of the Option
Shares shall commence from the Grant Date and shall terminate 5 years
from the Grant Date (such period in time being the "Option Period"),
unless terminated earlier as provided in this Agreement.

4.   VESTING. It is hereby backnowledged and agreed that the within
Option to acquire Option Shares during the Option Period shall only vest
in equal monthly proportions over a period of 12 months starting from
June 1, 2002; with the first such proportion (that being 1/12th) of the
Option vesting on June 1, 2002 and with the remaining monthly proportions
of the Option vesting on the same day of the month for each of the
ensuing 11 months therefrom.

<PAGE>
5.   MANNER OF EXERCISE

     a.   TIME OF EXERCISE OF OPTION:      Subject to the vesting
          provisions set forth above, the Option may be exercised at any
          time and from time to time on or before November 22, 2006.

     b.   NOTICE AND FORM OF EXERCISE:     Subject to the above, the
          Option may be exercised by the Option Holder by providing
          written notice to the Company, in accordance with paragraph 23
          hereinbelow, which notice: (a) will state the election to
          exercise the Option, the number of Option Shares as to which
          the Option is then being exercised, and the manner of payment
          to be employed by the Option Holder; (b) will be accompanied by
          payment of the Option Price of said Option Shares; and (c) will
          be signed by the person exercising the Option or, in the event
          that the Option is being exercised by any person other that the
          Option Holder, will be accompanied by appropriate proof of the
          right of such person to exercise the Option.

     c.   WITHHOLDING:     The Company may withhold the issuance of the
          Option Shares until the Option Holder provides the Company with
          cash equal to the federal, provincial, or state income taxes,
          if any, that the Company is required to withhold in connection
          with the exercise of the Option.

     d.   SUBSEQUENT TAX LIABILITY:     Any federal, provincial or state
          income tax liability resulting from the exercise or disposition
          of the Option Shares purchased pursuant to the Option will be
          the sole responsibility of the Option Holder.

     e.   ISSUANCE OF OPTION SHARES:     Within a reasonable time from
          the date of receipt by the Company of the foregoing notice and
          all required payments and other documentation, a certificate or
          certificates for the Option Shares will be issued by the
          Company, with such restrictive legends as counsel to the
          Company may require as a matter of law. All shares issued as
          provided herein will be fully paid and non-assessable.

6.   RIGHTS OF OPTION HOLDER. The Option Holder will have none of the
rights of a stockholder with respect to any Option Shares subject to the
Option until the Option Shares are issued to such Option Holder upon the
exercise of the Option.

7.   TRANSFERABILITY. The Option and this Agreement shall not be
transferable or assignable except by will or the laws of descent and
distribution or by permission of the Board of Directors, and any attempt
to do so shall void the Option.

8.   EXERCISE AFTER TERMINATION OF EMPLOYMENT, DEATH, OR DISABILITY.

     a.   TERMINATION.     If the Option Holder's employment,
          directorship or officership with the Company is terminated
          within the Option Period for cause, as determined by the
          Company in its sole discretion, or if the Option Holder resigns
          without appropriate or agreed notice and agreed termination
          terms, the Option will be void for all purposes immediately
          upon notice of termination or resignation, as the case may be,
          unless otherwise agreed by the Company.  As

<PAGE>
          used in this Section, "cause" means a gross violation, as
          determined by the Company, of the Company's established
          policies and procedures.  If the Option Holder is terminated
          for another reason, not contemplated in this Agreement, then
          the Option shall be exercisable, as to the vested portion only
          on the date of termination, for a period of 30 days after
          termination, except as otherwise permitted by the Board of
          Directors or this Agreement and not to exceed the Option
          Period.  The effect of this Section will be limited to
          determining the consequences of a termination and nothing in
          this Section will restrict or otherwise interfere with the
          Company's discretion with respect to the termination of any
          employee, director or officer.

     b.   DEATH OR DISABILITY.     If the Option Holder's employment with
          the Company is terminated within the Option Period because of
          the Option Holder's death or disability, the Option will remain
          exercisable, to the extent that it was vested and exercisable
          on the date of the Option Holder's death or disability, for a
          period of twelve months after such date; provided, however,
          that in no event may the Option be exercised after the
          expiration of the Option Period.

9.   LIMITATIONS UPON ISSUANCE OF STOCK. Anything contained herein to the
contrary notwithstanding, no Option Shares will be issued upon exercise
of the Option until the Company is satisfied that such Option Shares may
be issued in compliance with all applicable laws and regulations,
including, without limitation, U.S. and Canadian federal and applicable
state and provincial securities laws, and with the requirements of any
stock exchange upon which the common stock of the Company is then listed.
In that connection, the Company may require the Option Holder, as a
condition to issuing such Option Shares, to execute such covenants and
certificates, containing such agreements and representations, as the
Company deems appropriate to establish the availability of exemptions
from U.S. and Canadian federal and applicable state and provincial
securities laws and otherwise to effect or establish such compliance.
The Company will not have any liability with respect to any failure to
issue Option Shares as a result of the provisions of this paragraph.  The
Company shall have no requirement to qualify the Option Shares for
issuance or resale except by specific written agreement to such effect.

10.  ADJUSTMENT BY STOCK SPLIT, STOCK DIVIDEND, ETC.  If at any time the
Company increases or decreases the number of its outstanding common
shares of common stock, or changes in any way the rights and privileges
of such shares, by means of the payment of a stock dividend or the making
of any other distribution on such shares payable in common stock, or
through a stock split or subdivision of shares, or a consolidation or
combination of shares, or through a reclassification or recapitalization
invloving its common stock, the numbers, rights and privileges of the
Option Shares of common stock included in the Option shall be increased,
decreased or changed in like manner as if such Option Shares had been
issued and outstanding, fully paid and non-assessable at the time of such
occurrence.

11.  EFFECT OF MERGER, DISSOLUTION, RECEIVER OR SALE OF ASSETS.

     a.   EFFECT OF TRANSACTION.   Unless prior written notice is
          provided in accordance with paragraph 11(b) hereinbelow, upon
          the occurrence of any of the following events the Option shall
          automatically terminate and be of no further force or effect
          whatsoever:

<PAGE>
          (ii)  the dissolution or liquidation of the Company;

          (ii)  the appointment of a receiver for all, or substantially
                all, of the Company's assets or business;

          (iii) the appointment of a trustee for the Company after a
                petition has been filed for the Company's reorganization
                under applicable statutes;

          (iv)  the merger or amalgamation of the Company with one or
                more other corporations, regardless of which entity
                survives the transaction; or

          (iv)  the sale, lease or exchange of all, or substantially
                all, of the Company's assets and business.

     b.   NOTICE OF SUCH OCCURRENCE.  Except for the transactions
          described in subparagraphs 11(a)(i), 11(a)(ii) and 11(a)(iii)
          hereinabove for which no notice may be provided, at least 30
          calendar days' prior written notice of an event described in
          subparagraphs 11(a)(iv) and 11(a)(v) hereinabove may, at the
          Company's sole option, be given by the Company to the Optionee.
          After receipt of any such notice the Optionee may, at any time
          before the occurrence of the event allowing the giving of such
          notice, exercise the vested and unexercised portion of the
          Option as to all the vested Option Shares covered thereby.
          Such notice shall be deemed to have been given when delivered
          personally to the Optionee or pursuant to the provisions of
          paragraph 23 of this Agreement.  If no such notice shall be
          given with respect to a transaction described in subparagraphs
          11(a)(iv) and 11(a)(v) hereinabove, the provisions of paragraph
          11(a) shall continue to apply and the Option shall then
          automatically terminate and be of no further force or effect
          whatsoever.

12.  NO RIGHT OF CONTINUED SERVICE  Nothing in this Agreement will confer
on the Option Holder any right to continue as an employee, director,
officer, or consultant of the Company.

13.  BOARD'S DETERMINATION BINDING  A determination by the Board of
Directors as to any question that may arise with respect to the
interpretation of the provisions of this Agreement will be final and
binding on the Option Holder.

14.  COUNSEL  Each party acknowledges it has had the opportunity to
obtain separate counsel of choice.  The Company expressly disclaims that
it is giving any securities or tax advice to the Option Holder with
respect to the grant or exercise of the Option or to any disposition of
the Option Shares.  The Option Holder acknowledges and accepts this
disclaimer.

15.  INDEMNIFICATION  Each party hereby indemnifies and agrees to hold
harmless the other party from any liability; cost or expense arising from
or related to any act or failure to act of such party which is in
violation of this Agreement.

16.  GOVERNING LAW  This Agreement will be constructed and enforced in
accordance with the laws of the Province of British Columbia.

<PAGE>
17.  NO WAIVER.  No waiver of any default under this Agreement will be
considered valid unless in writing and no such waiver will be deemed a
waiver of any subsequent default of the same or similar nature.

18.  AMENDMENT  This Agreement may be amended only by a written
instrument signed by both parties to this Agreement.

19.  ENUREMENT  This Agreement shall enure to the benefit of and bind the
parites hereto and shall, to the extent hereinbefore provided, enure to
the parties' respective heirs, executors, successors, administrators and
assigns.

20.  TIME OF THE ESSENCE. Time shall be of the essence of this Agreement.

21.  ENTIRE AGREEMENT. The provisions contained herein constitute the
entire agreement between the parties hereto and supersede all previous
understandings and agreements with respect to the granting of the within
Option.

22.  FURTHER ACKNOWLEDGEMENTS. The Optionee hereby authorizes the Company
and its subsidiaries to collect personal, private information and data
about the Optionee and including, without limitation, the Optionee's
name, address, telephone number, Social Insurance Number and any other
information and data which the Company may deem necessary in order to
enable the Company to perform its obligations under this Agreement and
under applicable statutory and other laws.

23.  NOTICES. Any notices required or permitted to be given under this
Agreement shall be in writing and they shall be deemed to be given upon
receipt by sender or sender's return receipt for acknowledgment of
delivery of said notice by postage prepaid registered mail.   Such notice
shall be addressed to the party to be notified as shown below:

          The Company:        Hemptown Clothing Inc.
                              C/o Corporate Secretary
                              1307 Venables Street
                              Vancouver, British Columbia
                              V5L 2G1; and

          The Optionee:       At the address listed below the Optionee's
                              signature to this Agreement.

     Any party may change its address for purposes of this paragraph by
giving the other party written notice of the new address in the manner
set forth above.

<PAGE>
IN WITNESS WHEREOF, the Company and the Option Holder have duly executed
this Agreement as of the day and year first above written.

COMPANY:

Hemptown Clothing Inc.

Per: ____________________________________
     President

OPTION HOLDER:

Name:           _____________________________

Signature:      _____________________________

Address:        ________________________________________________________

                ________________________________________________________

                ________________________________________________________

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