Document:

Exhibit 10.6

    
      
        

      

    

    ARGYLE
      ENERGY, INC.

    

    10777
      Westheimer

    Suite
      170

    Houston,
      Terms 77042

    Phone.-
      (832)358-3900 

    Fax:
      (832) 358-3903

    

    September
      1, 2005

    Mike
      Piazza

    Ignis
      Petroleum Corporation 

    100
      Crescent Court

    7th
      floor

    Dallas
      Texas 75201

    

    Bayou
      City Exploration, Inc. f/k/a Blue Ridge Energy, Inc.

    10777
      Westheimer

    Suite
      170

    Houston,
      Texas 77024

    

    
      	
              RE:

            	
              Amendment
                to Letter Agreement, North Wright Prospect Area, Acadia Parish,
                Louisiana

            

    

    

    Gentlemen:

    

    Reference
      is made to that certain letter agreement (the "Agreement") dated March 31,
      2005,
      executed by and between Argyle Energy, Inc. ("Argyle"), Newton Properties,
      Inc.
      {"Newton"), and Bayou City Exploration, Inc. f/k/a Blue Ridge Energy, Inc.
      ("BCE"), pertaining to the North Wright Prospect Area, Acadia Parish, Louisiana,
      as more particularly set forth in the Agreement.

    

    Unless
      otherwise noted herein, all capitalized terms used herein shall have the
      meanings given such terms in the Agreement and the Joint Operating Agreement
      ("JOA") attached as Exhibit B to the Agreement.

    

    For
      good
      and adequate consideration exchanged between the parties, the receipt and
      sufficiency of which is hereby acknowledged and confessed by the parties, the
      Agreement is amended as follows:

    

    
      	 	
              ·

            	
              Ignis
                Petroleum Corporation (“Ignis”) represents that is has acquired all of the
                right, title and. interest, and obligations of Newton in and under
                the
                Agreement and is the current owner of such right, title and interest,
                and
                obligations free and clear of all liens, security interests, and
                encumbrances created by, through and under
                Ignis.

            

    

    

    
      	 	
              ·

            	
              Ignis
                shall have until March 31, 2006, to spud the Initial Well on the
                Prospect.
                In the event the Initial Well is not spud on or before March 31,
                2006,
                Ignis shall reassign all of the right, title and interest acquired
                under
                the Agreement to Argyle. The "second payment" as referenced and described
                in the Agreement shall be paid to Argyle on or before September 30,
                2005.

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              ·

            	
              Under
                no circumstance, and notwithstanding anything contrary in the JOA,
                BCE
                shall have no obligation to propose the Initial Well, determine its
                location, determine its depth, or determine by which date it will
                be
                commenced.

            

    

    

    
      	 	
              ·

            	
              BCE
                shall have no obligation to perform any operations on the Prospect
                Area
                time as Ignis has fully satisfied its escrow obligations as provided
                in
                the Agreement.

            

    

    

    
      	 	
              ·

            	
              It
                is acknowledged and agreed that BCE commenced its obligations under
                paragraph 12 of the Agreement on September 1, 2005, and therefore
                Ignis's
                payment obligations of $10,000.00 per month and per well, as described
                in
                paragraph 12 of the Agreement, arose on September 1,
                2005.

            

    

    

    This
      amendment to the Agreement may be executed in two or more counterparts, each
      of
      which shall be deemed an original, but all of which together shall constitute
      one and the same document.

    

    If
      the
      foregoing corresponds to your understanding of the amendment to the Agreement,
      please indicate your acceptance in the space provided below and return a fully
      executed copy hereof to me for my files.

    

    Sincerely,

    /s/
      Harry
      Peters

    Harry
      Peters

    Argyle
      Energy, Inc.

    

    AGREED
      AND ACCEPTED THIS 1ST DAY OF SEPTEMBER, 2005. 

    

    IGNIS
      PETROLEUM CORPORATION

    

    
      	
              By:

            	
              /s/
                Michael P. Piazza

            	 

    

    

    Title:
      President & CEO 9/29/05

    

    BAYOU
      CITY EXPLORATION F/K/A/ BLUE RIDGE ENERGY, INC.

    

    
      	
              By:

            	
              /s/
                Harry Peters

            	 

    

    

    Title:
      SR
      VP/ COOExhibit 10.7

    
      
        

      

    

    September
      22, 2005

     

    

    Newton
      Properties, Inc.

    Trust
      Company Complex

    Ajeltake
      Road

    Ajeltake
      Island

    Majuro,
      Marshall Islands MH96960

    

    Ignis
      Petroleum Corporation

    100
      Crescent Court, 7th
      Floor

    Dallas,
      Texas 75201

    

    

    
      	 	
              Re:

            	
              Loan
                Agreement, dated April 22, 2005 (the “Loan
                Agreement”),
                by and between Ignis Petroleum Corporation (the “Borrower”)
                and Newton Properties, Inc. (“Lender”)

            

    

    

    Ladies
      and Gentlemen:

    

    Pursuant
      to the above referenced Loan Agreement, Borrower issued a Convertible Promissory
      Note, dated April 22, 2005 (the “Note”)
      to
      Lender in the original principal amount of $375,000, which was convertible
      at a
      conversion price of $0.50 per share into 750,000 shares of common stock, par
      value $0.01 per share, of Borrower. Ignis Petroleum Group, Inc., f/k/a Sheer
      Ventures, Inc. (the “Company”),
      and
      its sole director were aware of the Note when the Company entered into the
      Stock
      Exchange Agreement, dated May 11, 2005 (the “Stock
      Exchange Agreement”),
      by
      and among the Company, Doug Berry, Philipp Buschmann, Fraser Tod, Gareth David
      Ball, Stephen Macrow, Luke Duncan Robinson, Thomas Thompson and Borrower,
      pursuant to which all 1,600,000 outstanding shares of common stock of the
      Borrower were exchanged for 1,600,000 shares of common stock, par value $0.001
      per share, of the Company. Upon the consummation of the transaction contemplated
      by the Stock Exchange Agreement (the “Exchange”),
      Borrower became a wholly-owned subsidiary of the Company. Since the Exchange,
      the Company has declared and paid a stock dividend whereby shareholders of
      the
      Company were issued five (5) additional shares of the Company’s common stock for
      each one (1) share of common stock outstanding (the “Stock
      Split”).
      Each
      of the parties hereto agrees that the conversion price of the Note should not
      be
      adjusted based upon the Stock Split and that the principal and accrued but
      unpaid interest on the Note should now be convertible into 775,000 shares of
      common stock of the Company at the rate of fifty cents ($0.50) per share.

    

    The
      purpose of this letter is to confirm Lender’s conversion and Borrower’s and the
      Company’s acceptance for conversion of the entire $375,000 unpaid principal
      balance of the Note plus accrued but unpaid interest thereon of $12,500 into
      775,000 shares of common stock of the Company (the “Shares”)
      effective on the date hereof. As a result of such conversion, the Note and
      the
      Loan Agreement are hereby terminated, and neither Borrower nor Lender shall
      hereafter have any further rights or obligations under the Note or the Loan
      Agreement.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Newton
      Properties, Inc.

    Ignis
      Petroleum Corporation

    September
      22, 2005

    Page
      2

    
 

    Lender
      understands that the Shares have not been registered with the Securities and
      Exchange Commission or any state securities board and, as such, the shares
      will
      be deemed restricted securities, as such term is defined in the Securities
      Act
      of 1933, as amended (the “Securities
      Act”),
      and
      the regulations promulgated thereunder. In connection with the issuance of
      the
      Shares, Lender hereby makes the following representations and warranties to
      Lender:

    

    1.              
      Lender
      is
      an “accredited investor” as such term is defined in the Securities Act.

    

    2.              
      Lender
      is
      purchasing the Shares for its own account, for investment purposes only and
      not
      with view to any public resale or other distribution thereof. Lender and its
      representatives have received, or have had access to, and have had sufficient
      opportunity to review, all books, records, financial information and other
      information which Lender considers necessary or advisable to enable it to make
      a
      decision concerning its conversion of the Note into the Shares, and Lender
      possesses such knowledge and experience in financial and business matters that
      it is capable of evaluating the merits and risks of its investment hereunder.
      

    

    3.              
      Lender
      understands that any sale by Lender of any of the Shares will, under current
      law, require either: (a) the registration of the Shares under the Securities
      Act
      and applicable state securities acts; (b) compliance with Rule 144 of the
      Securities Act; or (c) the availability of an exemption from the registration
      requirements of the Securities Act. Lender understands that the Company has
      not
      undertaken and does not presently intend to file a registration statement to
      register the Shares. Lender hereby agrees to execute, deliver, furnish or
      otherwise provide to the Company an opinion of counsel reasonably acceptable
      to
      the Company prior to any subsequent transfer of the Shares, that such transfer
      will not violate the registration requirements of the federal or state
      securities acts. Lender further agrees to execute, deliver, furnish or otherwise
      provide to the Company any documents or instruments as may be reasonably
      necessary or desirable in order to evidence and record the Shares acquired
      hereby.

    

    4.              
      To
      assist
      in implementing the above provisions, Lender hereby consents to the placement
      of
      the legend, or a substantially similar legend, set forth below, on all
      certificates representing ownership of the Shares acquired hereby until the
      Shares have been sold, transferred, or otherwise disposed of, pursuant to the
      requirements hereof. The legend shall read substantially as
      follows:

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Newton
      Properties, Inc.

    Ignis
      Petroleum Corporation

    September
      22, 2005

    Page
      3

    
 

    "THE
      SHARES REPRESENTED BY THIS CERTIFICATE WERE ISSUED WITHOUT REGISTRATION UNDER
      THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY APPLICABLE STATE
      SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED,
      ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL THEY ARE REGISTERED UNDER
      THE
      ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY IS OBTAINED TO THE
      EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED."

    

    Please
      indicate your acceptance of the terms of this letter agreement by (i) signing
      a
      counterpart of this letter agreement in the space provided therefore below,
      and
      (ii) marking the original Note “PAID” and returning it to the Company. Upon
      receipt of a fully-executed counterpart of this letter agreement and the
      original Note, the Company will issue a certificate to Lender representing
      775,000 shares of common stock of the Company.

    

    [Signature
      page follows.]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Newton
      Properties, Inc.

    Ignis
      Petroleum Corporation

    September
      22, 2005

    Page
      4

    
 

    

    
      	 	
              Sincerely,

            
	 	 
	 	
              THE
                COMPANY:

            
	 	 
	 	
              IGNIS
                PETROLEUM GROUP, INC.

            
	 	 
	 	 
	 	
              By:
                /s/
                Philipp Buschmann

            
	 	
              Name:
                Philipp Buschmann

            
	 	
              Title:
                COO

            
	 	 
	
              Agreed
                and Consented to:

            	 
	 	 
	
              LENDER:

            	 
	 	 
	
              NEWTON
                PROPERTIES, INC.

            	 
	 	 
	 	 
	
              By:
                /s/
                David Craven

            	 
	
              Name:
                David Craven

            	 
	
              Title:
                CEO

            	 
	
              Date:
                22 September 2005

            	 
	 	 
	 	 
	 	 
	
              BORROWER:

            	 
	 	 
	
              IGNIS
                PETROLEUM CORPORATION

            	 
	 	 
	 	 
	
              By:
                /s/
                Philipp Buschmann

            	 
	
              Name:
                Philipp Buschmann

            	 
	
              Title:
                COO

            	 
	
              Date:
                9/23/05

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