Document:

AGREEMENT

                                   BY AND AMONG

                                 CAPCO ENERGY, INC.,

                                 METEOR STORES, INC.,

                               METEOR INDUSTRIES, INC.

                               THE SOLE SHAREHOLDER OF

                                 METEOR STORES, INC.

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                                   AGREEMENT

     AGREEMENT, made this 31st day of December, 1999, by and among Capco
Energy, Inc., a Colorado corporation ("Purchaser"), Meteor Stores, Inc. ("MSI"
or the "Company"), a New Mexico corporation, and Meteor Industries, Inc., the
sole shareholder of MSI ("Shareholder").

     WHEREAS, Purchaser desires to acquire all of the issued and outstanding
stock of MSI, held by the Shareholder (the "Common Stock"), in exchange for
the consideration and upon the terms described herein (the "Purchase"); and

     WHEREAS, the Shareholder desires to sell all of the outstanding Common
Stock of the Company; and

     WHEREAS, Purchaser, the Company and Shareholder desire to make certain
representations, warranties, covenants and agreements in connection with the
Purchase and also desire to prescribe various conditions precedent to the
Purchase;

    NOW, THEREFORE, in consideration of the mutual promises, covenants,
provisions, and representations contained herein, THE PARTIES HERETO AGREE AS
FOLLOWS:

                                  ARTICLE 1
                                THE PURCHASE

     1.1  Sale and Delivery of Common Stock.  Subject to all the terms and
conditions of this Agreement, the Shareholder shall transfer, convey and
deliver to Purchaser at the Closing (as defined in paragraph 1.2 hereof) good,
valuable and marketable title to the Common Stock, free and clear of all
liens, claims and encumbrances except those created by this Agreement in
exchange for the consideration described in this Article 1.

     1.2  Effective Date and Closing.  The effective date of this transaction
shall be December 31, 1999 (the "Effective Date"). The closing of the
transaction contemplated herein (the "Closing") shall occur at a mutually
agreeable time and place, on the earliest practicable date following the day
on which all of the obligations and conditions precedent contained herein are
complied with. The closing date shall be on or about December 29, 1999, or a
soon thereafter as reasonably practicable (the "Closing").

     1.3  Purchase Price.  Subject to adjustment pursuant to Section 1.4,
subject to the terms of Section 1.5 and subject to all of the other terms and
conditions set forth in the Agreement and in reliance on the representations,
warranties and covenants hereinafter set forth, Purchaser shall deliver to
Shareholder the amount of $1,596,400  (hereinafter referred to as the
"Purchase Price").

     1.4  Adjustments.  The Total Purchase Price of the Common Stock shall be
defined as $1,596,400.  Such amount shall be adjusted as follows:

     (a)  During the three month period following the Closing, Purchaser shall
have an independent auditor of its choice audit (using generally accepted
accounting principles and practices; fixed assets and inventories and the
balance sheet and income statement of the Company as of December 31, 1999 (the
"Audit").  Such auditor shall present its audit report to Shareholder and to
Purchaser.  If the audit report would result in a reduction of the purchase

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price under subsection (b)  of this Section 1.4, below, and if Shareholder
disagrees with any portion of the audit report which is material to any such
adjustment, the Shareholder shall so notify the Purchaser in writing within
five (5) days and, the parties shall attempt to resolve such disagreement
through good faith bargaining.  If the parties are not successful in resolving
such disagreement through bargaining within seven (7) days following
Shareholder's notice to Purchaser, the parties shall submit the disagreement
for arbitration under Section 13.4 below.

     (b)  If the Purchaser's Audit of the Company shows that the Company's
shareholder's equity is less than $1,596,400 then the Total Purchase Price
shall be reduced by the amount of such shareholder's equity deficiency.

     1.5  Payment of Purchase Price.  The total Purchase Price shall be paid
as follows:

     (a)  $250,000 of the total Purchase Price shall be paid to the
Shareholder, by certified or bank check or by electronic wire transfer of
immediately available funds, at Closing.

     (b)  $1,100,000 shall be paid at Closing  in the form of 366,667shares of
Meteor common stock (the Meteor "Common Shares").   The Meteor Common Shares
shall be transferred, free and clear of all liens, claims and encumbrances.
Any adjustments under Section 1.4 above in excess of $246,400 will result in a
refund of Common Shares using a price of $3.00 per share.

     (c)  $246,400 shall be paid on or before March 31, 2000, subject to any
adjustments in the purchase price under Section 1.4 above.

     1.6  Option to Repurchase Meteor Common Shares.  Purchaser shall have the
right to repurchase all or part of the Meteor Common Shares transferred
pursuant to paragraph 1.5(b) at $3.00 per share plus .77% per month for each
unexercised month for eighteen months.  These repurchased shares shall have
antidilutive provisions.

                                   ARTICLE 2
                         REPRESENTATIONS AND WARRANTIES
                         OF THE COMPANY AND SHAREHOLDER

     As an inducement to the Purchaser to enter into this Agreement, the
Company and the Shareholder hereby represent and warrant to Purchaser that:

     2.1  Organization.  The Company is a corporation duly organized, validly
existing, and in good standing under the laws of New Mexico, has all necessary
corporate powers to own its properties and to carry on its business as now
owned and operated by it, and is duly qualified to do business and is in good
standing in each of the states where its business requires qualification.

     2.2  Capital.  The authorized capital stock of the Company consists of
2,500 shares common stock, no par value, of which 2,500 shares of common stock
are issued and outstanding including -0- shares that are currently held in the
treasury of the Company.  All of the issued and outstanding shares of the
Company are duly and validly issued, fully paid, and non-assessable.  There
are no outstanding subscriptions, options, rights, warrants, debentures,
instruments, convertible securities, or other agreements or commitments
obligating the Company, or any subsidiary to issue or to transfer from
treasury additional shares of its capital stock.  Except for the common stock

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outstanding, there are no other equity securities of the Company. No taxes or
other payments to governmental authorities will be due from the Purchaser upon
transfer of the Common Stock as contemplated by this Agreement.

     2.3  Corporate Books and Records.  The minute books of the Company
contain accurate records of all meetings and accurately reflect all other
actions taken by the Board of Directors and the shareholders of the Company.
Complete and accurate copies of all such minute books and of the stock
register of the Company have been made available by the Company for inspection
by the Purchaser.  At the Closing, all of those books and records will be in
the possession of the Company.

     2.4   Subsidiaries.  The Company does not have any subsidiaries or own
any interest in any other enterprise, except as described in Exhibit 2.4
attached hereto.

     2.5  Directors and Officers.  Exhibit 2.5 to this Agreement, contains the
names and titles of all directors and officers of the Company.

     2.6  Financial Statements.  Exhibit 2.6 to this Agreement, includes true
and complete copies of the unaudited financial statements of the Company for
the fiscal periods ended December 31,1998 and 1997, together with all related
notes and schedules thereto.  Prior to Closing an unaudited balance sheet as
of October 31, 1999, and an unaudited income statement for the fiscal year
ending October 31, 1999, shall be delivered to Purchaser and be included as
part of Exhibit 2.6 (both sets of financial statements are hereinafter
referred to as the "The Company Financial Statements").  Except as set forth
in Exhibit 2.6, the Company Financial Statements shall have been prepared in
accordance with generally accepted accounting principals and practices of the
United States (hereinafter referred to as "GAAP").  Exhibit 2.6 sets forth
certain year-end adjustments and tailoring transactions, which will be made
and entered into to facilitate this Agreement.  As revised by such adjustments
and tailoring transactions, the Company Financial Statements are true,
accurate and complete, and fairly present the financial position of the
Company as of the dates and for the periods mentioned therein.

     2.7  Absence of Undisclosed Liabilities.  As of the respective dates of
the Financial Statements included in Exhibit 2.6, the Company did not have any
material debt, liability, or obligation of any nature, whether accrued,
absolute, contingent or otherwise, and whether due or to become due, that is
not reflected in the Financial Statements.  As of the Closing Date, the
Company does not have any material liabilities not disclosed in the Company
Financial Statements, other than as listed on Exhibit 2.7.  For purposes of
this Section 2.7, a material liability shall mean a liability of $25,000 or
more.  Notwithstanding the definition of material liability in the preceding
sentence, total undisclosed liabilities shall not exceed $50,000.

     2.8  Taxes.  To the best knowledge and belief of Shareholder, within the
times and in the manner prescribed by law, the Company has filed all tax
returns required by law and has paid all taxes, assessments and penalties due
and payable in the normal course of its business.  To the best knowledge and
belief of Shareholder, the provisions for taxes, if any, reflected in the
Company Financial Statements, are reasonably adequate for taxes for the
periods ending on the date of such financial statements and for all prior
periods, whether or not disputed.

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     2.9 Compliance with Laws.  To the best of Shareholder's knowledge and
belief, the Company is in compliance in all material respects with, and is not
in violation of, applicable federal, state, or local statutes, laws or
regulations affecting its properties or the operation of its business.

     2.10 Litigation.  Except as shown on Exhibit 2.10 attached hereto, (1)
the Company is not a party to any suit, action, arbitration, or legal,
administrative or other proceeding, or governmental investigation pending or
threatened against or affecting the Company or its business, assets or
financial condition (hereinafter referred to as "Actions"); (2) the Company is
not in default with respect to any order, writ, injunction or decree of any
federal, state, local or foreign court, department, agency or instrumentality
applicable to them; (3) the Company is not engaged in any lawsuits to recover
monies due to it.

     2.11 Authority.  The Board of Directors of the Company has authorized the
execution of this Agreement and the consummation of the transactions
contemplated herein, and the Company and Shareholder have full power and
authority to execute, deliver and perform this Agreement and this Agreement is
a legal, valid and binding obligation of the Company and Shareholder, and is
enforceable in accordance with its terms.

     2.12 Ability to Carry Out Obligations.  To the best of the Shareholder's
knowledge and belief and except as shown on Exhibit 2.12 attached hereto, the
execution and delivery of this Agreement by the Company and Shareholder and
the performance by the Company and Shareholder of their obligations hereunder
will not cause, constitute or conflict with or result in (a) any breach or
violation of any of the provisions of or constitute a default under any
license, indenture, mortgage, charter, instrument, articles of incorporation,
by-laws, or other agreement or instrument to which the Company is a party, or
by which it may be bound, nor will any consents or authorizations of any party
other than those hereto be required, (b) an event that would permit any party
to any agreement or instrument to terminate such agreement or instrument or to
accelerate the maturity of any indebtedness or other obligation of the
Company, or (c) an event that would result in the creation or imposition of
any lien, charge, or encumbrance on any asset of the Company.  Purchaser
understands, as hereinafter set forth, upon Closing Shareholder intends and is
entitled to withdraw and cancel any guaranties executed by it  to suppliers
and banks.  The withdrawal and cancellation of such guaranties by Shareholder,
as here in above and here in after referred to shall not constitute any breach
or violation of this Agreement by the Company or Shareholder.

     2.13 Validity of The Company Shares.  The shares of the Company Common
stock to be delivered to Purchaser pursuant to this Agreement, when
transferred in accordance with the provisions of this Agreement, will be duly
authorized validly issued, fully paid and non-assessable; and free and clear
of all liens, claims and encumbrances.

     2.14 Assets.  The Company has good and marketable and insurable title to
all its property and such property is not subject to any liens, claims and/or
encumbrances other than disclosed in Exhibit 2.6.  Exhibit 2.14 hereto lists
all plant property and equipment of the Company  with a value of $ 10,000.

     2.15 Material Contracts.  Exhibit 2.15 lists each material contract and
agreement of the Company (such contracts and agreements listed, being
collectively referred to as "Material Contracts").  The Company has delivered,
or will deliver on or about the time of execution of this Agreement, to the
Purchaser correct and complete copies of all Material Contracts.

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     2.16 Trade Names and Rights.  Except as set forth in Exhibit 2.16
attached hereto, the Company owns all trademarks, service marks, trade names,
and copyrights required in its business.  A list of trademarks, service marks,
trade names and copyrights owned by the Company is included in Exhibit 2.16.
No other person or entity owns any trademark, trademark registration or
application, service mark, trade name, copyright, or copyright registration or
application the use of which is necessary or material in connection with the
present or contemplated operations of the Company's business.

     2.17 Employees.  There are, except as disclosed in Exhibit 2.17 attached
hereto, no collective bargaining, bonus, profit sharing, severance,
indemnification, compensation or other agreements, trusts, funds, plans or
arrangements maintained by the Company or any subsidiary of the Company for
the benefit of its directors, officers or employees, and there are no
employment, consulting, severance or indemnification arrangements, agreements
or understandings between any of the foregoing and the Company.  The Company's
employee handbook or manual and a complete description of all employee
benefits, is included as part of Exhibit 2.17 as of the effective date. All of
the Company's employees are at-will employees who have no rights to severance
pay.

     2.18 Accounts Receivable.  Except as covered by any allowance for
doubtful accounts booked in the normal course of business in the Company
Financial Statements, all accounts receivable of the Company, including those
created between the date of the Financial Statements and the Closing,
represent transactions in the ordinary course of business, and are current and
collectible in the ordinary course of business in the amounts recorded on the
Books of the Company.

     2.19 Inventories.  All inventories of the Company as of October 31, 1999
(to be updated at Closing as of the Effective Date), a complete list of which
is attached hereto as Exhibit 2.19, whether or not reflected in the Company
Financial Statements, are of a quality and quantity usable and salable in the
ordinary course of business and comply in all material respects with
applicable standards and regulations of governmental authorities.

     2.20 Accounts Payable.  The accounts payable reflected on the Company
Financial Statements, and those reflected on the books of the Company at the
time of the Effective Date will, reflect all amounts owed by the Company in
respect of trade accounts due and other payables.

     2.21 Insurance.  The Company has insurance policies in full force and
effect which provide for coverages which are usual and customary in its
business as to amount and scope, and are adequate to protect the Company
against any reasonably foreseeable risk of loss.  Such policies will not
remain in full force and effect subsequent to Closing.  Exhibit 2.21 attached
hereto identifies each of the Company's insurance policies, indicating the
carrier, amount of coverage, annual premium, risks covered, placing broker or
agent, and period through which the policy is paid up and other relevant
information as to each.

     2.22 Title to and Utilization of Properties.  Exhibit 2.22 attached
hereto lists all of the Company owned and leased properties.  Except as
disclosed on Exhibit 2.22, the Company owns fee simple, insured title to all
real property owned by it and has the unbridled fight to use the same, and is
not aware of any claim, notice or threat to the effect that its fight to own
and use such property is subject in any way to any challenge, claim, assertion

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of rights, proceedings toward condemnation or confiscation in whole or in
part, or is otherwise subject to challenge. The Company has valid leases on
its leased properties and the expiration dates of such leases are disclosed on
Exhibit 2.22.

     2.23 Facilities.  To Shareholder's best knowledge and belief, the Company
facilities are (as to physical plant and structure) structurally sound and
none of its facilities, nor any of the vehicles or other equipment used by The
Company in connection with its business, has any material defects and all of
them are in all material respects in good operating condition and repair and
are adequate for the uses to which they are being put. None of such plants,
structures, or equipment is in need of maintenance and repairs except ordinary
routine maintenance and repairs.   Purchaser acknowledges that its
representatives have inspected such facilities and have found them to be sound
and free of obvious defects.

     2.24 Environmental and Other Permits and Licenses, Related Matters.

     (a)  To Shareholder's best knowledge and belief, the Company currently
holds all the health and safety and other permits, licenses, authorizations,
certificates, exemptions and approvals of governmental authorities
(collectively, "PERMITS"), including, without limitation, environmental
permits, necessary for the current use, occupancy and operation of each asset
and property of the Company and the conduct of its business, and all such
permits and environmental permits are in full force and effect.  Neither the
Company nor any of the Shareholder has received any notice from any
governmental authority revoking, canceling, rescinding, materially modifying
or refusing to renew any permit or environmental permit or providing written
notice of violations under any environmental law which have not been resolved.
The Company is in all material respects in compliance with the permits and all
applicable Environmental Laws.  Exhibit 2.24(a) identifies all permits that
will require the consent of any governmental authority to consummate the
transactions contemplated by this Agreement.

     (b)  To Shareholder's best knowledge and belief, all equipment owned or
used by the Company, including, but not limited to above ground storage tanks,
underground storage tanks, and piping associated with such tanks, is in
substantial compliance with all applicable Permits and Environmental Laws
including the Federal and State 1998 underground storage tank requirements,
and can be operated in the ordinary course of business in substantial
compliance with all applicable Permits and Environmental Laws.

     (c)  Except as disclosed in Exhibit 2.24(a): (i) Hazardous Materials have
not been generated, used, treated, handled or stored on, or transported to or
from (other than petroleum products handled, stored or transported in the
normal course of business), or released on any owned real property or leased
real property by the Company, and the Company and its Shareholder are unaware
of any such generation, use, treatment, handling, storage, transportation, or
release by any other person or entity, including but not limited to any
predecessor in interest; (ii) the Company has reported all Releases of
Hazardous Material in accordance with Environmental Laws; (iii) the Company
has not Released any Hazardous Materials, and is not responsible or liable for
any Release of Hazardous Materials, which must be remediated under applicable
Environmental Law (including, but not limited to, any Release which results in
the presence of Hazardous Materials in the environment in quantities or
amounts that exceed remediation action levels specified by regulation or by
governmental policy or guideline) or that any person or entity or governmental

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authority has requested or required to be remediated; (iv) the Company has
disposed of all wastes, including those containing Hazardous Materials, in
material compliance with all applicable Environmental Laws and environmental
permits; (v) there are no past, pending or threatened Environmental claims
against the Company or any of its assets or properties; (vi) the Company has
not transported or arranged for the transportation of any Hazardous Materials
to any location that is listed or proposed for listing on the National
Priorities List under CERCLA or on the CERCLIS or any analogous state list or
which is the subject of any environmental claim; and (vii) neither the Company
nor any governmental authority is conducting any remediation on or related to
the owned real property, the leased real property or the business of the
Company.

     (d)  To Shareholder's best knowledge and belief, Exhibit 2.24(d) sets
forth the age, contents or former contents of any storage tanks located on the
premises owned or operated by the Company.  Except as set forth in Exhibit
2.24(d) the Company has not owned or operated any underground storage tanks as
defined in the Resource Conservation and Recovery Act ("RCRA").  Except as set
forth in. Exhibit 2.24(d), all tanks and pipes pertinent thereto are presently
and have been in the past in good condition and tight.

     (e)  To the best knowledge and belief of Shareholder, there are no
wastes, drums or containers disposed of or buried on, in or under the ground
or any surface waters located on the premises currently or previously owned or
operated by the Company.  Neither the Company nor any third parties have
disposed of or buried any wastes, drums or containers on, in or under the
ground or any surface waters located on the premises owned or operated by the
Company.  Neither the Company nor any party acting on behalf of the Company
disposed of or buried, or arranged to dispose of or bury, any waste, drums or
containers in or on the premises of a third party other than those pursuant to
and in compliance with RCRA.

     (f)  Certain capitalized terms used in this Section 2.24 are defined as
follows:

     Hazardous Materials - means (a) oil, petroleum and petroleum products,
radioactive materials, asbestos in any form that is or could become friable,
urea formaldehyde foam insulation, transformers or other equipment that
contain polychlorinated biphenyls, and radon gas, (b) any other chemicals,
materials or substances defined as or included in the definition of "hazardous
substances," "hazardous wastes," "hazardous materials," "extremely hazardous
wastes," "restricted hazardous wastes," "toxic substances," "toxic
pollutants," "contaminants" or "pollutants," or words of similar import, under
any applicable Environmental Law, and (c) any other chemical, material or
substance exposure to which is regulated by any governmental authority.

     Environmental Laws - means any law including but not limited to any
federal, state, local, law, ordinance, regulation or rule now in effect and
any judicial or administrative interpretation thereof, including any judicial
or administrative order, consent decree or judgment, relating to the
environment, health, safety or Hazardous Materials, including, without
limitation, CERCLA; the Resource Conservation and Recovery Act, 42 U.S.C. SS
6901 et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. SS 6901 et
seq.; the Clean Water Act, 33 U.S.C. SS 1251 et seq.; the Toxic Substances
Control Act, 15 U.S.C. SS 2601 et seq.; the Clean Air Act, 42 U.S.C. SS 7401
et seq.; the Safe Drinking Water Act, 42 U.S.C. SS 300f et seq.; the Atomic
Energy Act, 42 U.S.C. SS 2011 et seq.; the Federal Insecticide, Fungicide and
Rodenticide Act, 7 U.S.C. SS 136 et seq.; and the Federal Food, Drug and

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Cosmetic Act, 21 U.S.C. SS 301 et seq. and the state or local equivalents of
these laws.

     Release - means disposing, discharging, injecting, spilling, leaking,
leaching, dumping, emitting, escaping, emptying, seeping, placing and the like
into or upon any land, water or air or otherwise entering into the
environment.

     2.25 Customers and Suppliers.  Exhibit 2.25 lists all major customers and
suppliers which are material to the financial condition or operations of the
Company.  Since October 31,1998, except as disclosed in Exhibit 2.25, there
has been no adverse change in the business relationship of the Company with
any such customer or supplier.  It is understood and agreed that "material"
customers and suppliers provided for in this section are defined as customers
purchasing product from the Company in excess of $10,000 per year, and
suppliers providing supplies and merchandise to the Company in the amount of
$10,000 per year.

     2.26 Bank Accounts.  Exhibit 2.26 sets forth the names and locations of
all banks, trust companies, savings and loan associations and other financial
institutions at which the Company maintains current accounts of any nature and
the names of all persons authorized to draw thereon or make withdrawals
therefrom.

                                   ARTICLE 3
                   REPRESENTATIONS AND WARRANTIES OF PURCHASER

     As an inducement to the Company and the Shareholder to enter into this
Agreement, the Purchaser represents and warrants to the Company and
Shareholder that:

     3.1  Organization.  Purchaser is a corporation duly organized, validly
existing, and in good standing under the law of California, has all necessary
corporate powers to own properties and to carry on its business as now owned
and operated by it, and is duly qualified to do business and is in good
standing in each of the states were its business requires qualification.

     3.2  Capital.  As of the date of this Agreement, the authorized capital
stock of Purchaser consists of 150,000,000 shares of $.001 par value Common
Stock of which 1,000,000 shares of Common Stock are currently issued and
outstanding, and 10,000,000 shares of preferred stock $1.00 par value are
authorized of which 292,947 shares are currently outstanding.  All of the
issued and outstanding shares of Purchaser are duly and validly issued, fully
paid and non-assessable.

     3.3  Authority.  The Board of Directors of Purchaser has authorized the
execution of this Agreement and the transactions contemplated herein, and
Purchaser has full power and authority to execute, deliver and perform this
Agreement and this Agreement is the legal, valid and binding obligation of
Purchaser, and is enforceable in accordance with its terms and conditions.

     3.4  Ability to Carry Out Obligations.  Except as described in Exhibit
3.4, the execution and delivery of this Agreement by Purchaser and the
performance by Purchaser of its obligations hereunder will not cause,
constitute, or conflict with or result in (a) any breach or violation of any
of the provisions of or constitute a default under any license, indenture,
mortgage, charter, instrument, certificate of incorporation, bylaw, or other
agreement or instrument to which Purchaser is a party, or by which it may be

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bound, nor will any consents or authorizations of any party other than those
hereto be required, (b) an event that would permit any party to any agreement
or instrument to terminate it or to accelerate the maturity of any
indebtedness or other obligation of Purchaser, or (c) an event that would
result in the creation or imposition of any lien, charge, or encumbrance on
any asset of Purchaser.

     3.5  Directors and Officers.  Exhibit 3.5 of this Agreement contains the
names and titles of all directors and officers of Purchaser.

     3.6  Other information.  None of the  information and documents which
have been furnished or made available by the Purchaser or any of its
representatives to Seller or any of its representatives in connection with the
transactions contemplated by this Agreement is materially false or misleading
or contains any material misstatement of fact or omits any material fact
necessary to be stated in order to make the statements and information therein
not misleading.

                                  ARTICLE 4
                                  COVENANTS

     4.1  Investigative Rights.  The Company shall provide to Purchaser, and
its counsel, accountants, auditors, and other authorized representatives,
reasonable access to all of the Company's properties, books, contracts,
commitments, and records for the purpose of examining the same.  The Company
shall furnish Purchaser with all information concerning its affairs as
Purchaser may reasonably request.  Without in any manner reducing or otherwise
mitigating the representations contained herein, Purchaser and/or its
representatives shall have the opportunity to meet with accountants to discuss
the financial condition of the Company.

     4.2  Indemnification of the Company and Shareholder.  Purchaser shall be
liable for and shall indemnify, defend and hold the Company and the
Shareholder and its officers, directors, affiliates, agents and the
Shareholder harmless against and in respect of any and all claims, demands,
losses, costs, expenses, obligations, liabilities, damages, recoveries and
deficiencies, including interest, penalties, and reasonable attorney fees,
that they shall incur or suffer, which result from or relate to any activities
of the Company or Purchaser subsequent to the Closing Date or which result
from or relate to any breach of, or failure by Purchaser to perform any of its
representations, warranties, covenants or agreements in this Agreement or in
any schedule, certificate, exhibit or other instrument furnished or to be
furnished by Purchaser under this Agreement.

     4.3  Indemnification of Purchaser.  The Company and Shareholder shall be
liable for and shall agree to indemnify, defend and hold Purchaser and its
officers, directors, affiliates and agents harmless against and in respect of
any and all claims, demands, losses, costs, expenses, obligations,
liabilities, damages, recoveries and deficiencies, including interest,
penalties, and reasonable attorney fees, that it shall incur or suffer, which
result from or relate to any breach of, or failure by the Company to perform
any of its respective representations, warranties, covenants and agreements in
this Agreement or in any exhibit, schedule, certificate or other instrument
furnished or to be furnished by the Company or Shareholder under this
Agreement.

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     4.4  Accounts Payable.  With regard to all accounts payable and accrued
taxes as of the Effective Date, Purchaser will cause such amounts to be paid
according to the payment plan and/or requirements of the creditor or taxing
authority, without extension, delinquency or other material deviation from the
payment term and plan. Purchaser shall, within fifteen (15) days after
Closing, arrange for the release of Shareholder and other key employees of the
Company from personal guarantees relating to the business of the Company.

     4.5  Shareholder's Cooperation After the Closing, Further Action.  At
any, time and from time to time after the Closing, the Shareholder shall
execute and deliver to the Purchaser such other instruments and take such
other actions as the Purchaser may reasonably request more effectively to vest
title to the Shares in the Purchaser and, to the full extent permitted by law,
to put the Purchaser in actual possession and operating control of the Company
and its assets, properties and the business.  Each of the parties hereto shall
use all reasonable efforts to take, or cause to be taken, all appropriate
action, do or cause to be done all things necessary, proper or advisable under
applicable laws, and execute and deliver such documents and other papers, as
may be required to carry out the provisions of this Agreement and to
consummate and make effective the transactions contemplated hereby.

                                ARTICLE 5
            CONDITIONS PRECEDENT TO PURCHASER'S PERFORMANCE

     5.1  Conditions.  Purchaser's obligations hereunder shall be subject to
the satisfaction, at or before the Closing, of all the conditions set forth in
this Article 5. Purchaser may waive any or all of these conditions in whole or
in part without prior notice; so long as such waiver is in writing; and
provided, however, that no such waiver of a condition shall constitute a
waiver by Purchaser of any other condition or any of Purchaser's other rights
or remedies, at law or in equity, if the Company and Shareholder shall be in
default of any of their representations, warranties, or covenants under this
Agreement.

     5.2  Accuracy of Representations.  Except as otherwise permitted by this
Agreement, all representations and warranties by the Company and Shareholder
in this Agreement or in any written statement that shall be delivered to
Purchaser by the Company under this Agreement shall be true and accurate when
made and on and as of the Closing Date with the same force and affect as if
made at the Closing.

     5.3  Performance. Purchaser shall be reasonably satisfied that the
Company and Shareholder shall have performed, satisfied, and complied with all
covenants, agreements, and conditions required by this Agreement to be
performed or complied with by it, on or before the Closing Date.

     5.4  Absence of Litigation.  No action, suit, or proceeding before any
court or any governmental body or authority, pertaining to the transaction
contemplated by this Agreement or to its consummation, shall have been
instituted or threatened against any party hereto on or before the Closing
Date.

     5.5  Directors of the Company.  Effective on the Closing Date the Board
of Directors of the Company shall be reorganized and be made up of four
individuals named by Purchaser.

     5.6  Closing Documents.  The Company and the Shareholder shall be
prepared to deliver the closing documents set forth in Article 6 of this
Agreement.
                                    11
<PAGE>

     5.7  Officer's Certificate.  The Company shall have delivered to
Purchaser a certificate, dated the Closing Date, and signed by the President
of the Company, certifying that each of the special conditions specified in
Sections 6.2 hereof have been fulfilled.

                                 ARTICLE 6
                    CONDITIONS PRECEDENT TO THE COMPANY'S
                        AND SHAREHOLDER'S PERFORMANCE

     6.1  Conditions.  The Company's and Shareholder's obligations hereunder
shall be subject to the satisfaction, at or before the Closing, of all the
conditions set forth in this Article 6.  The Company and Shareholder may waive
any or all of these conditions in whole or in part without prior notice; so
long as such waiver is in writing; and provided, however, that no such waiver
of a condition shall constitute a waiver by the Company and Shareholder of any
other condition of or any of the Company's or Shareholder's rights or
remedies, at law or in equity, if Purchaser shall be in default of any of its
representations, warranties, or covenants under this Agreement.

     6.2  Accuracy of Representations.  Except as otherwise permitted by this
Agreement, all representations and warranties by Purchaser in this Agreement
or in any written statement that shall be delivered to the Company and/or
Shareholder by Purchaser under this Agreement shall be true and accurate on
and as of the Closing Date as though made at that time.

     (a)  The Company shall deliver a signed Consent or Minutes of the
Directors of the Company approving this Agreement. Such Minutes shall be
certified by an officer of the Company.

     (b)  Each party shall deliver such other documents or information
required to be furnished by Closing pursuant to this Agreement.

                                   ARTICLE 7
                                 MISCELLANEOUS

     7.1  Captions and Headings.  The Article and paragraph/section headings
through this Agreement are for convenience and reference only, and shall in no
way be deemed to define, limit, or add to the meaning of any provision of this
Agreement.

     7.2  No Oral Change.  This Agreement and any provision hereof, may not be
waived, changed modified, or discharged orally, but it can be changed by an
agreement in writing signed by the party against whom enforcement of any
waiver, change, modification, or discharge is sought.

     7.3  Waiver.  Except as otherwise expressly provided herein, no waiver of
any covenant, condition, or provision of this Agreement shall be deemed to
have been made unless expressly in writing and signed by the party against
whom such waiver is charged; and (i) the failure of any party to insist in any
one or more cases upon the performance of any of the provisions, covenants, or
conditions of this Agreement or to exercise any option herein contained shall
not be construed as a waiver or relinquishment for the future of any such
provisions, covenants, or conditions, (ii) the acceptance of performance of
anything required by this Agreement to be performed with knowledge of the
breach or failure of a covenant, condition, or provision hereof shall not be
deemed a waiver of such breach or failure, and (iii) no waiver by any party of
one breach by another party shall be construed as a waiver with respect to any
other or subsequent breach.

                                    12
<PAGE>

     7.4  Entire Agreement.  This Agreement contains the entire Agreement and
understanding between the parties hereto, and supersedes all prior agreements
and understandings.

     7.5  Choice of Law.  This Agreement and its application shall be governed
by the laws of the State of Colorado.

     7.6  Counterparts.  This Agreement may be executed simultaneously in one
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

     7.7  Notices.  All notices, requests, demands, and other communications
under this Agreement shall be in writing and shall be deemed to have been duly
given on the date of receipt if served personally on the party to whom notice
is to be given, by telecopy or telegram, or mailing if mailed to the party to
whom notice is to be given, by first class mail, registered or certified,
postage prepaid, and properly addressed as follows:

Purchaser:     CAPCO ENERGY, INC.
               2922 CHAPMAN AVENUE, SUITE 202
               ORANGE, CA 92869
               ATTENTION: IMRAN, JATTALA, VICE PRESIDENT

Shareholder:   METEOR INDUSTRIES, INC.
               1401 BLAKE STREET, SUITE 200
               DENVER, COLORADO 80202

The Company:   METEOR STORES, INC.
               1401 BLAKE STREET, SUITE 200
               DENVER, CO 80202

     7.8  Binding Effect.  This Agreement shall inure to and be binding upon
the heirs, executors, personal representatives, successors and assigns of each
of the parties to this Agreement.

     7.9  Mutual Cooperation.  The parties hereto shall cooperate with each
other to achieve the purpose of this Agreement, and shall execute such other
and further documents and take such other and further actions as may be
necessary or convenient to effect the transaction described herein.

     7.10 Brokers.  Each of the parties hereto shall indemnify and hold the
other harmless against any and all claims, losses, liabilities or expenses
which may be asserted against it as a result of its dealings, arrangements or
agreements with any broker, finder or person.

     7.11 Announcements.  Purchaser, Shareholder and the Company will consult
and cooperate with each other as to the timing and content of any
announcements of the transactions contemplated hereby to the general public or
to employees, customers or suppliers.  Except to the extent that the parties
consent in writing otherwise, no party to this Agreement shall make, or cause
to be made, any press release or public announcement in respect of this
Agreement or the transactions contemplated hereby or otherwise communicate
with any news media.  Nevertheless, the parties agree that the Purchaser or an
affiliate of the Purchaser may make such disclosure (on Form 8-K, by press
release or otherwise) regarding the terms of this Agreement and the
transactions contemplated hereby as it deems necessary to comply with

                                    13
<PAGE>

applicable securities laws or the rules and regulations of the NASDAQ,
including a press release following the execution of this Agreement.

     7.12 Expenses.  Except as specifically provided in this Agreement, all
direct costs and expenses including legal, and any other out-of-pocket
expenses incurred by Shareholder, in connection with this transaction, shall
be paid by the Shareholder.  All costs and expenses including legal,
accounting and any other out-of-pocket expenses incurred by the Purchaser, in
connection with this transaction, shall be paid by the Purchaser.

     7.13 Survival of Representations and Warranties.  Except as otherwise
provided in this Section 9.13, the representations, warranties, covenants and
agreements of the parties set forth in this Agreement or in any instrument,
certificate, opinion, or other writing providing for in it, shall survive the
Closing for a period of one year irrespective of any investigation made by or
on behalf of any party.

     7.14 Assignment.  This Agreement may not be assigned by operation of Law
or otherwise by the Shareholder, the Company or the Purchaser.

     AGREED TO AND ACCEPTED as of the date first above written.

PURCHASER: CAPCO ENERGY, INC.           SHAREHOLDER: METEOR INDUSTRIES, INC.

    /s/ Ilyas Chaudhary                 /s/ Dennis R. Staal, Director
By ____________________________         ________________________________

SELLER: METEOR STORES, INC.

   /s/ Paul W. Greaves, President
By ______________________________

                                    14
<PAGE>

                               Exhibit 2.4

                               SUBSIDIARIES

     Hatch Pyramid LLC
     Socorro Pyramid LLC
     Meteor Properties of Colorado LLC

                               Exhibit 2.5

                   DIRECTORS AND OFFICERS OF THE COMPANY

     Paul W. Greaves          President, Director

     Richard E. Kisser        Secretary/Treasurer, Director

     Edward J. Names          Director

                              Exhibit 2.6

                         FINANCIAL STATEMENTS

    See attached.

                               Exhibit 2.7

                         UNDISCLOSED LIABILITIES

Conoco upgrades contingent liability for approximately $650,000. Requires
purchase of Conoco products.

                               Exhibit 2.10

                                LITIGATION

None.

                               Exhibit  2.12

                    ABILITY TO CARRY OUT OBLIGATIONS

This transaction will require the consent of Norwest Bank. Consent has been
requested and will be obtained before the audit adjustment period.

<PAGE>

                               Exhibit 2.14

                                  ASSETS

See attached.

                               Exhibit 2.15

                             MATERIAL CONTRACTS

 -    Hillco, Inc. Lease

 -    Graves Oil & Butane Co., Inc. Lease
      1.   551 E. Main, Farmington, NM (#144)
      2.   761 S. Miller, Farmington, NM (#143)
      3.   1721 E. 20th Avenue, Farmington, NM (#141)
      4.   191 Alameda, NW, Albuquerque, NM  (#121)

 -    Limited Liability Lease
      1.   9160 Coors NW, Albuquerque, NM (#122) - Coors Pyramid LLC
      2.   603 Franklin, Hatch, NM (#103) - Hatch Pyramid LLC
      3.   3920 Bloomfield Highway, Farmington, NM (#142) - Bloomfield Pyramid
           LLC
      4.   105 . Main, Ft. Morgan, CO  (#303) - Meteor Carroll, LLC
      5.   530 W. Platte, Ft. Morgan, CO (#304 - Mustangs) -
           Meteor Properties of Colorado LLC
      6.   321 East 8th Avenue, Yuma, CO (#306 - Threshers) - Meteor
           Properties of Colorado LLC
      7.   1113 W. Edison, Brush, CO (#305 - Diggers) - Meteor Properties of
           Colorado LLC

  -    Meteor Marketing, Inc. Supply Agreement

(SEE ATTACHED)

                               Exhibit 2.16

                           TRADE NAMES AND RIGHTS

      Conoco, Inc.
      Phillips 66
      Diamond Shamrock
      Sinclair
      Frontier

                          Exhibit 2.17

                            EMPLOYEES

      See attached.

<PAGE>

                               Exhibit 2.19

                               INVENTORIES

See Attached.

                               Exhibit 2.21

                                INSURANCE

See attached.

                                Exhibit 2.22

                  TITLE TO AND UTILIZATION OF PROPERTIES

See Attached.

                                Exhibit 2.24

                ENVIRONMENTAL AND OTHER PERMITS AND LICENSES

2.24(a)        Environmental and Other Permits and Licenses

2.24(b)        Environmental and Other Permits and Licenses; Related Matters

2.24(d)        Age, Contents or Former Contents of Any Storage Tanks Located
               on Premises Owned or Operated by Company

                                Exhibit 2.25

                         CUSTOMERS AND SUPPLIERS LISTS

 See attached.

                                Exhibit 2.26

                                BANK ACCOUNTS

See attached.

                                 Exhibit 3.4

                       ABILITY TO CARRY OUT OBLIGATIONS

 None.

<PAGE>

                                Exhibit 3.5

                    DIRECTORS AND OFFICERS OF  PURCHASER

<PAGE>

                            AMENDMENT TO AGREEMENT

      This Amendment to that certain Agreement, made the 31st day of December,
1999, which was entered into by and among Meteor Industries, Inc. and Capco
Energy, Inc. and Meteor Stores, Inc. is made this 8th day of February, 2000.

First:   Article 1.4(b) shall be deleted in its entirety and replaced by the
         following:

         (b) The Purchase Price shall be adjusted downward by the tax affected
             operating loss of the Company for November and December of 1999.
             No Audit adjustments to the Company's balance sheet or pro forma
             balance sheet included in Exhibit 2.6 shall result in a Purchase
             Price adjustment.

Second:  Section 1.5(b) of the Agreement is amended to read as follows:

         1.5  $1,250,000 shall be paid at Closing in the form of a note.  The
note shall bear interest of 9.25%.  Payments on the note shall be interest
only during calendar year 2000.   The remaining payments on the note will be
calculated based on a ten-year amortization, with a balloon payment of the
unpaid principal balance  on December 31, 2001.  The first payment will be due
on April1, 2000.  The note shall be secured by all of the outstanding shares
of Meteor Stores, Inc. and 210,000 shares of common stock of Meteor
Indus-tries, Inc.  The payments can either be made in cash or in shares of
Meteor Industries, Inc. common stock valued for note payment purposes at $3.00
per share.  Any adjustment under Section 1.4 in excess of $96,400 will result
in a reduction of the note.

Third:   Section 1.6 shall be deleted in its entirety.

Fourth:  Exhibit 2.15 is amended to include the following disclosures:

         a.  Limited Liability Lease No. 1 (Coors Road #8) is an operating
             agreement instead  of a lease and such operating agreement shall
             stay in effect until such time as the other LLC interest holders
             are bought out. (See Coors Pyramid LLC agreement)

         b.  Limited Liability Lease No. 2 is canceled and the Hatch store is
             to be operated pursuant to the LLC agreement

         c.  Limited Liability leases Nos. 5,  6, 7 expire on January 31,
             2000.

         d.  Leases for the Byers and Simla locations are hereby added to the
             list and are attached.

         e.  The CFN Agreement , the Cardlock Agreement and updated Product
             Sales Agreement attached are hereby added to Exhibit 2.15

         f.  Meteor Marketing, Inc. will continue to occupy the Las Cruces
             Bulk Plant and warehouse at the rate of $2,500 per month until
             a new Operator/Tenant can be found.

         g.  The two LLC agreements (Hatch and Coors) are hereby added as
             part of Exhibit 2.15 and attached hereto.

         h.  The liquor license between El Boracho and Meteor Stores, Inc. is
             hereby added as an additional exhibit and attached hereto.

<PAGE>

         i.  The sublease with Coastal Transport regarding the 4208 S.
             Broadway warehouse shall be added as part of Exhibit 2.15 and is
             attached hereto.

         j.  McLanes and ATM agreements shall be added as part of 2.15 and
             are attached hereto.

     Exhibit 2.24 is amended as follows:

         a.   Additional updated Environmental Status Reports relating to the
              following properties are hereby added to Exhibit 2.24 and are
              attached hereto.

              1.  761 S. Miller, Farmington
              2.  No. 3 at 20th Street, Farmington
              3.  Lohman St., Las Cruces
              4.  Byers, Colorado Store
              5.  Simla, Colorado Store
              6.  Quik Chek , Las Cruces
              7.  Elks Store, Las Cruces

         b.  New automatic tank gauging systems are being installed at the
             2nd and Alameda , Albuquerque location and the Deming, New
             Mexico locations.  This shall be accomplished and paid for by
             Meteor Industries, Inc. by March, 2000.

Fifth:   Exhibit 2.22 shall be amended by adding a list of all Company leases
         and identifying the Lessor, the present monthly rental payments, the
         expiration dates and other relevant data.  Such list is attached
         hereto and shall include Fort Morgan location.

Agreed to and accepted as of the date first above written.

PURCHASER: CAPCO ENERGY, INC.            SHAREHOLDER: METEOR INDUSTRIES, INC.

     /signed/ Imran Jattala                  /signed/ Edward J. Names
By:___________________________________   By:__________________________________

COMPANY: METEOR STORES, INC.

    /signed/ Imran Jattala
By:___________________________________

                                      2PROMISSORY NOTE

$1,250,000.00                                               December 31, 1999

     Capco Energy, Inc., a Colorado corporation, ("Obligor"), for value
received, hereby promises to pay to the order of Meteor Industries, Inc.
("Payee"), in lawful money of the United States at the address of Payee set
forth below, the principal sum of One Million Two Hundred Fifty Thousand and
00/100 Dollars ($1,250,000.00), together with simple interest on the unpaid
principal at the  rate of nine and one quarter percent (9.25%) per annum.
Subject to the provisions for acceleration herein the payments on this Note
during calendar year 2000 shall be  interest only payments paid monthly.
Beginning on January 1, 2001, and subject to the provisions for acceleration
herein, payments shall be made on  all unpaid principal together with all
accrued interest  amortized over ten years,  in equal  monthly payments,  with
a balloon payment of the remaining principal balance on December 31, 2001.
The first payment which shall include interest on this Note for three months
in the amount of $28,906 shall be due on April 1, 2000.  Payments can be made
in cash or in shares of Meteor Industries common stock to be valued for note
payment purposes at $3.00 per share.

     This Note may be prepaid, in whole or in part, at any time without
permission or penalty in cash or in Meteor common stock valued at the closing
price on the day of payment.  Interest shall be computed on the basis of a
360-day year and actual days elapsed.  This Note shall be prepaid upon Payee's
request if Obligor or its parent company completes a public offering of common
stock.

     If payment on this Note shall become due on a Saturday, Sunday or public
holiday under the laws of the State of Colorado, such payment shall be made on
the next succeeding business day and such extension of time shall be included
in computing interest in connection with such payment.

     Immediately upon the occurrence of an "Event of Default" (as defined
below), Payee may, at its option, declare immediately due and payable the
entire unpaid principal amount of this Note, together with all interest
thereon, plus any other amounts payable at the time of such declaration
pursuant to this Note.  An Event of Default shall be defined as each of the
following: (i) failure of Obligor to make any payment of interest and/or
principal within thirty (30) days after the due date; (ii) Obligor shall admit
in writing its inability to pay its debts as they become due, shall make a
general assignment for the benefit of creditors or shall file any petition for
action for relief under any bankruptcy, reorganization, insolvency or
moratorium law, or any other law or laws for the relief of, or relating to,
debtors; or (iii) an involuntary petition shall be filed against Obligor under
any bankruptcy, reorganization, insolvency or moratorium law, or any other law
or laws of for the relief of, or relating to, debtors unless such petition
shall be dismissed or vacated within thirty (30) days of the date hereof.

     If Payee should institute collection efforts, of any nature whatsoever,
to attempt to collect any and all amounts due hereunder upon the default of
Obligor, Obligor shall be liable to pay to holder all reasonable costs and
expenses of collection incurred by Payee, including, without limitation,
reasonable attorney fees, whether or not suit or other action or proceeding be
instituted and specifically including but not limited to collection efforts
that may be made through a bankruptcy court.

<PAGE>

     This Note shall be governed by and construed and interpreted in
accordance with the laws of the State of Colorado.

     IN WITNESS WHEREOF, the parties hereto have executed this Note as of the
day and year first above written.  Any payment shall be deemed made upon
receipt by Payee.  Payee or Obligor may change their address for purposes of
this paragraph by giving to the other party notice in conformance with this
paragraph of such new address.

                              "OBLIGOR"

                               CAPCO ENERGY, INC.

                                        /signed/ Imran Jatalla
                                By:____________________________________
                                Print Name: Imran Jatalla
                                Title: Executive Vice President

                                "GUARANTOR"

                                CAPCO ASSET MANAGEMENT, INC.

                                      /signed/ John R. Aitken
                                By:____________________________________
                                Print Name: John R. Aitken
                                Title: President

                                    2

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