Document:

Unassociated Document

    PROMISSORY NOTE- CMC
XXV

    Indigo-Energy,
Inc.

    

    
      
        	
                $75,000
      (Seventy Five Thousand Dollars)

              	
                Dated:
      6-5-2009

              
	
                Principal
      Amount

              	
                State
      of Nevada  

              

      

    

    

    Funding Date- On or before
June 5, 2009

    Due Date-  June 5,
2011

    

    FOR VALUE RECEIVED, Seventy Five
Thousand Dollars ($75,000), the undersigned, Indigo-Energy, Inc., a Nevada
Corporation, located at 701 N. Green Valley Parkway, Suite 200, Henderson, NV
89074 (Borrowers) hereby promises to pay to the order
of Carr-Miller Capital (Maker) the sum of $75,000 (Seventy Five
Thousand Dollars).  The purpose of this funding is to meet the first
part of the requirement of the Global Finance Agreement Section 2. a. ii) $500K
for the third of six funding commitments.  Said sum shall be paid in
the manner following:

    

    This
Promissory Note shall
bear simple Interest at
ten percent (10%) per annum from the Funding Date to the Due Date.

    

    At the
Due Date Borrower will repay the Note in the following manner:

    

    Borrower
will repay the Principal Amount along with outstanding Interest due within 10
days of the Due Date via check to the Makers address.  Borrower may
pre-pay this note at any time without penalty by payment of Principal Amount and
pro-rata interest.

    

    This Note
shall at the option of the Maker be immediately due and payable upon the
occurrence of any of the following:

    

    
      	
               
      

            	
              1-

            	
              Breach
      of any condition of any of the security
  interest.

            

    

    
      	
               
      

            	
              2-

            	
              Upon
      the insolvency, dissolution, or liquidation of the
    Borrowers.

            

    

    

    In the
event this note shall be in default, and placed with an attorney for collection,
then the Borrower agrees to pay all reasonable attorney fees and costs of
collection. Payments not made within 10 days of due date shall be subject to a
late charge of 10% of said payment.  All payments hereunder shall be
made to the Maker.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    The
Borrowers agree to be fully bound hereunder until this note shall be fully paid
and waive demand, presentment and protest and all notices thereto and further
agrees to remain bound, notwithstanding any extension, renewal, modification,
waiver, or other indulgence by the Maker or upon the discharge or release of the
Borrowers, or upon the exchange, substitution, or release of any collateral
granted as security for this Note.  No modification or indulgence by
Maker shall be binding unless in writing, and any indulgence for one occasion
shall not be an indulgence for any other or future occasion.  This
Note shall take effect as a sealed instrument and shall be construed, governed,
and enforced in accordance with the laws of the State of Nevada.

    

    
      
        
          
            	
                    Signed
      the date recorded below:

                  	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	/s/
      Stanley L. Teeple	 
      	06/05/09	 
      
	
                    Stanley
      L. Teeple, CFO

                  	 
      	
                    Date

                  	 
      
	
                    Indigo-Energy,
      Inc.

                  	 
      	 
      	 
      

          

        

      

    

    

    
      
        
          
            
              	
                      Accepted
      by Maker:

                    	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	
                      Carr-Miller
      Capital

                    	 
      	
                      Date

                    	 
      	
                      TIN

                    	 
      

            

          

        

      

    

     

    
      
         

      

      
        2Unassociated Document

    PROMISSORY NOTE- CMC
XXVI

    Indigo-Energy,
Inc.

    

    
      
        	
                $40,000
      (Forty Thousand Dollars)

              	
                Dated:
      6-30-2009   

              
	
                Principal
      Amount

              	
                State
      of Nevada     

              

      

    

    

    Funding Date- On or before
June 30, 2009

    Due Date-  June 30,
2011

    

    FOR VALUE RECEIVED, Forty Thousand
Dollars ($40,000), the undersigned, Indigo-Energy, Inc., a Nevada Corporation,
located at 701 N. Green Valley Parkway, Suite 200, Henderson, NV 89074
(Borrowers) hereby promises to pay to the order
of Carr-Miller Capital (Maker) the sum of $40,000 (Forty Thousand
Dollars).  The purpose of this funding is to meet part (accumulated
$115,000) of the requirement of the Global Finance Agreement Section 2. a. ii)
$500K for the third of six funding commitments.  Said sum shall be
paid in the manner following:

    

    This
Promissory Note shall
bear simple Interest at
ten percent (10%) per annum from the Funding Date to the Due Date.

    

    At the
Due Date Borrower will repay the Note in the following manner:

    

    Borrower
will repay the Principal Amount along with outstanding Interest due within 10
days of the Due Date via check to the Makers address.  Borrower may
pre-pay this note at any time without penalty by payment of Principal Amount and
pro-rata interest.

    

    This Note
shall at the option of the Maker be immediately due and payable upon the
occurrence of any of the following:

    

    
      	
               
      

            	
              1-

            	
              Breach
      of any condition of any of the security
  interest.

            

    

    
      	
               
      

            	
              2-

            	
              Upon
      the insolvency, dissolution, or liquidation of the
    Borrowers.

            

    

    

    In the
event this note shall be in default, and placed with an attorney for collection,
then the Borrower agrees to pay all reasonable attorney fees and costs of
collection. Payments not made within 10 days of due date shall be subject to a
late charge of 10% of said payment.  All payments hereunder shall be
made to the Maker.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    The
Borrowers agree to be fully bound hereunder until this note shall be fully paid
and waive demand, presentment and protest and all notices thereto and further
agrees to remain bound, notwithstanding any extension, renewal, modification,
waiver, or other indulgence by the Maker or upon the discharge or release of the
Borrowers, or upon the exchange, substitution, or release of any collateral
granted as security for this Note.  No modification or indulgence by
Maker shall be binding unless in writing, and any indulgence for one occasion
shall not be an indulgence for any other or future occasion.  This
Note shall take effect as a sealed instrument and shall be construed, governed,
and enforced in accordance with the laws of the State of Nevada.

    

    
      
        
          
            
              	
                      Signed
      the date recorded below:

                    	 
      	 
      
	 
      	 
      	 
      
	/s/
      Stanley L. Teeple	 
      	06/30/09	 
      
	
                      Stanley
      L. Teeple, CFO

                    	
                      Date

                    	 
      
	
                      Indigo-Energy,
      Inc.

                    	 
      	 
      

            

          

        

      

    

    

    
      
        
          
            
              
                
                  	
                          Accepted
      by Maker:

                        	 
      	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
      	 
      	 
	
                          Carr-Miller
      Capital

                        	 
      	
                          Date

                        	 
      	
                          TIN

                        	 

                

              

            

          

        

      

    

     

    
      
         

      

      
        2Unassociated Document

    This Agreement is by and
between  Carr  Miller Capital, Inc. (“CMC”), Indigo-Energy,
Inc. (“Indigo”) and  Gersten Savage, as Escrow Agent
(“GS”)

     

    WHEREAS, CMC is the owner of an
aggregate of 348,127,288 shares of common  stock of Indigo-Energy,
Inc. (“Indigo”), options (the “CMC Options”) to purchase 5,250,000 shares of
common stock and warrants (the “CMC Warrants”) to purchase 37,950,000 shares of
common stock;

     

    WHEREAS, Indigo is indebted to CMC in
the total amount of $7,209,508.49 plus interest
represented by 17 promissory notes of various amounts and dates (the “CMC
Notes”).   A schedule of Indigo’s obligations to CMC are attached
as Exhibit A to this Agreement. It is also noted herein that CMC has forgiven an
additional one million dollars of Indigo debt in exchange for the shares, prior
to this agreement.

     

    WHEREAS, Elite Dom Establishment
(“Elite”) is procuring certain financing (the “Financing”) for Indigo and as
part of such arrangement has requested that the CMC shares be held by GS as
collateral until the loan arranged by Indigo is repaid by Indigo;
and

     

    WHEREAS, as part of the Financing,
Elite has requested as a condition that Indigo settle all obligations with
CMC.

     

    NOW, THEREFORE, in consideration of the
foregoing and of the mutual terms and covenants hereinafter expressed, the
parties agree as follows:

     

    1.   Upon
the execution of this Agreement, CMC will deliver 270,127,288 Shares of Indigo
common stock owned by it (the “CMC Shares”) thereby retaining 77,000,000
shares.  In addition to the 270,127,288 shares, all of the CMC
Options, all of the CMC Warrants and the CMC Notes will be provided to GS to
hold as Escrow Agent, along with stock powers executed in blank (the CMC Shares,
the CMC Options and the CMC Warrants shall be collectively referred to as the
“CMC Securities”).

     

    2.  CMC will receive
$2,500,000 no later than August 15, 2009 which shall be deducted from the total
amount owed pursuant to the CMC Notes.

     

    3.  No later than November
15, 2009, CMC will receive an additional $7,500,000 which will be deemed to
satisfy the CMC Notes in full.  Elite will provide this funding to
Indigo for this purpose.

     

    4.  Upon payment of the
$7,500,000 referred to in the section immediately above, the CMC Notes, the CMC
Shares (minus the 77,000,000 retained by CMC as part of this agreement), the CMC
Warrants and the CMC Options shall be cancelled.   Until such
payment is made, CMC will retain all of its ownership rights with respect to the
CMC shares, warrants and options, except that it may not transfer any of such
shares while they are held in escrow.

     

    5.  In the event that CMC
does not receive the balance of $7,500,000 on or before November 1 15, 2009, Indigo
will cancel $2,500,000 of the oldest of the CMC Notes and the remainder of the
Notes shall remain in full force and effect.  In such event, the
Escrow Agent will return the CMC shares, the CMC Warrants and the CMC Options
that it is holding in escrow to CMC.  In the event that CMC does not
receive the $2,500,000 by August 16, 2009, this Agreement shall be of no further
force and effect except as set forth in this Section 5.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    6.  As a condition to this
Agreement, CMC agrees to cure its default under the third tranche of the Global
Financing Agreement, as represented in Carr Miller’s promissory note (XXVIII) in
the amount of $333,290.96 by making such payment by July 31, 2009.

     

    7.  CMC shall be entitled to
10% of Indigo’s net working interest in the four wells already drilled in
the Dubois field which is presently 75%.

     

    8. This Agreement shall be binding upon
and inure to the benefit of the parties and their respective administrators,
representatives, executors, successors and assigns, either by reason of death,
incapacity, merger consolidation, and/or purchase or acquisition of
substantially all of Indigo’s assets or otherwise.

     

    9. CMC acknowledges that they have been
represented by counsel in connection with this Agreement, and have executed the
same with knowledge of its consequences.  This Letter Agreement is
made and entered into under New York law and shall be interpreted, enforced and
governed under the laws of the State of New York without regard to its conflicts
of laws principles.

    

    10. This Agreement sets forth the
entire agreement between the Parties and fully supersedes any and all prior
agreements or understandings between the parties.

    

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

    

    If the foregoing terms and conditions
of this binding Agreement are acceptable to the parties, please so indicate by
signing in the indicated place.

     

    
      
        
          	
                  Carr
      Miller Capital Inc.

                	 
      	
                  Indigo-Energy,
      Inc.

                
	 
      	 
      	 
      
	
                  By:

                	
                  /s/ Everett
      Miller

                	 
      	
                  By:

                	
                  /s/ Steven
      Durdin

                
	
                  Everett
      Miller

                	 
      	
                   Steven
      Durdin, President

                

        

      

    

     

    Solely
for purposes of Section 5 of this Agreement

     

    Gersten Savage LLP

    

    
      
        
          
            	
                    By:

                  	
                     

                  
	
                    Arthur
      Marcus,
Partner

                  

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
A

     

    CMC
IDGG Obligations Ledger 07/28/2009

     

    
      
        
          
            
              
                
                  
                    
                      	
                              Funding

                            	 	
                              Due

                            	 	 
      	 	
                              #24528

                            	 
	
                              Date

                            	 	
                              Date

                            	 	
                              Name

                            	 	
                              Amount

                            	 
	 	 
	
                              11/30/2008

                            	 	
                              11/30/2013

                            	 	
                              Carr
      Miller Capital - GFA RSPN (D)

                            	 	$	2,861,217.53	 
	 
      	 	 	 	 
	
                              12/16/2008

                            	 	
                              12/16/2010

                            	 	
                              Carr
      Miller Capital, LLC XVI (D)

                            	 	$	1,080,000.00	 
	 
      	 	 	 	 
	
                              12/23/2008

                            	 	
                              12/31/2013

                            	 	
                              Carr
      Miller Capital, LLC XV (D)

                            	 	$	200,000.00	 
	 
      	 	 	 	 
	
                              12/30/2008

                            	 	
                              12/30/2013

                            	 	
                              Carr
      Miller Capital, LLC XIII (D)

                            	 	$	500,000.00	 
	 
      	 	 	 	 
	
                              12/30/2008

                            	 	
                              12/30/2013

                            	 	
                              Carr
      Miller Capital, LLC XIV (D)

                            	 	$	400,000.00	 
	 
      	 	 	 	 
	
                              1/10/2009

                            	 	
                              1/29/2014

                            	 	
                              Carr
      Miller Capital, LLC XVII (D)

                            	 	$	330,000.00	 
	 
      	 	 	 	 
	
                              2/6/2009

                            	 	
                              2/6/2014

                            	 	
                              Carr
      Miller Capital, LLC XVIII (D)

                            	 	$	250,000.00	 
	 
      	 	 	 	 
	
                              2/20/2009

                            	 	
                              2/20/2009

                            	 	
                              Carr
      Miller Capital, LLC XX (D)

                            	 	$	500,000.00	 
	 
      	 	 	 	 
	
                              2/25/2009

                            	 	
                              2/25/2014

                            	 	
                              Carr
      Miller Capital, LLC XIX (D)

                            	 	$	50,000.00	 
	 
      	 	 	 	 
	
                              3/10/2009

                            	 	
                              3/10/2011

                            	 	
                              Carr
      Miller Capital, LLC XXI (D)

                            	 	$	225,000.00	 
	
                               
      

                            	 	 	 	 
	
                              3/19/2009

                            	 	
                              3/19/2011

                            	 	
                              Carr
      Miller Capital, LLC XXII (D)

                            	 	$	200,000.00	 
	 
      	 	 
      	 	 	 	 
	
                              4/30/2009

                            	 	
                              4/30/2011

                            	 	
                              Carr
      Miller Capital, LLC XXIII (D)

                            	 	$	100,000.00	 
	 
      	 	 
      	 	 	 	 
	
                              5/6/2009

                            	 	
                              5/6/2014

                            	 	
                              Carr
      Miller Capital, LLC XXIV (D)

                            	 	$	50,000.00	 
	 
      	 	 
      	 	 	 	 
	
                              6/5/2009

                            	 	
                              6/5/2011

                            	 	
                              Carr
      Miller Capital, LLC XXV (D)

                            	 	$	75,000.00	 
	 
      	 	 
      	 	 	 	 
	
                              6/30/2009

                            	 	
                              6/30/2011

                            	 	
                              Carr
      Miller Capital, LLC XXVI (D)

                            	 	$	40,000.00	 
	 
      	 	 
      	 	 	 	 
	
                              7/16/2009

                            	 	
                              7/16/2011

                            	 	
                              Carr
      Miller Capital, LLC XXVII (D)

                            	 	$	15,000.00	 
	 
      	 	 
      	 	 	 	 
	
                              7/28/2009

                            	 	
                              7/28/2011

                            	 	
                              Carr
      Miller Capital, LLC XXVIII (D)

                            	 	$	333,290.96	 
	 
      	 	 	 	 
	 
      	 	
                              Total

                            	 	$	7,209,508.49	 

                    

                  

                

              

            

          

        

      

    

     

    Note:

    

    
      	
            	
              (D)

            	
              Everett Miller of Carr Miller
      Capital, LLC 

              became a board member on
      1/30/08 

              and hence a related
      party.

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