Document:

Exhibit
        10.11

      

      INVESTOR
        RELATIONS AGREEMENT

       

       

      THIS
        AGREEMENT
        made as
        of the sixteenth day of June 2005.

       

      BETWEEN:

       

      TRIANGLE
        PETROLEUM CORPORATION,
        a Nevada
        corporation (Hereinafter referred to as the "Corporation")

       

      OF
        THE FIRST PART 

      -
        and
        -

       

       

      REDWOOD
        CAPITAL CORPORATION, a
        body
        corporate incorporated in the Province of Alberta (Hereinafter referred to
        as
        the "Consultant")

       

      OF
        THE SECOND PART

       

      WHEREAS
        the
        securities of the Corporation are publicly traded on The NASDAQ Stock Market
        (the "Exchange") under the trading symbol “ TPLM ”;

       

      AND
        WHEREAS
        the
        Consultant provides corporate planning and financial advisory
        services;

       

      AND
        WHEREAS
        the
        Corporation wishes to engage the services of the Consultant;

       

      NOW
        THEREFORE THIS AGREEMENT WITNESSETH
        that in
        consideration of the premises and of the covenants and agreements herein
        contained, the parties hereto do hereby warrant and agree as
        follows:

       

      
        	1.  	
                The
                  Consultant shall provide the following services to the
                  Corporation:

              

      

       

      
        	a)  	
                Assist
                  the Corporation's management in the preparation, editing and distribution
                  of news releases and other corporate literature such as annual
                  and
                  quarterly reports to shareholders.

              

      

      

      
        	b)  	
                Assist
                  the Corporation’s management in the preparation of corporate
                  presentations, and arrange for the delivery of these presentations
                  to
                  research analysts, corporate finance professionals and financial
                  institutions in general;

              

      

      

      
        	c)  	
                Update
                  members of the investment community with regular information including,
                  without limitation, quarterly reports, annual reports, news releases,
                  and
                  other similar or related materials, by way of facsimile transmission,
                  telephone, email and mail;

              

      

      

      
        	d)  	
                Assist
                  the Corporation in the development of relationships with brokerage
                  or
                  investment banking houses for the procurement of additional funding
                  through equity and debt offerings;

              

      

      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

         

      

      
        	e)  	
                Advise
                  the Corporation on share structures, financing structures and any
                  necessary changes;

              

      

      

      
        	f)  	
                Provide
                  such support and advice as from time to time may be required, considered
                  necessary or advisable by the Corporation relating directly to
                  the
                  investor relations function;

              

      

       

      
        	2.  	
                The
                  Consultant shall, in performing the work, report to the President
                  of the
                  Corporation, or in his absence the Vice President Exploration,
                  who shall have the authority to give such notice, approvals and
                  directions
                  as may be given by the Corporation under this Agreement, or such
                  other
                  representatives as may be designated by the President of the
                  Corporation.

              

      

       

      
        	3.  	
                All
                  materials, information and data of any kind whatsoever developed,
                  collected or otherwise obtained by the Consultant in the performance
                  of
                  the work, including photographs, slides, designs, evaluations,
                  drawings,
                  notes, reports, improvements and inventions shall be and remain
                  the
                  property of the Corporation, unless otherwise approved by the President
                  of
                  the Corporation.

              

      

       

      
        	4.  	
                During
                  the term of this Agreement and thereafter, the Consultant shall
                  not,
                  without the prior written consent of the Corporation, use the material,
                  information and data described in section 3 of this Agreement except
                  in
                  the performance of the services or disclose such material, information
                  and
                  data to third parties.

              

      

       

      
        	5.  	
                During
                  the term of this Agreement and thereafter, the Consultant shall
                  not at any
                  time make any false or misleading representations, statements,
                  or
                  declarations that could in any way prejudice, harm or embarrass
                  the
                  Corporation, the officers, directors or shareholders of the
                  Corporation.

              

      

       

      
        	6.  	
                The
                  Consultant shall comply with all general directions given by the
                  Corporation with respect to implementation of the terms and conditions
                  of
                  this Agreement and with all applicable securities laws and policies
                  including those of the NASDAQ Stock
                  Market.

              

      

       

      
        	7.  	
                Notwithstanding
                  anything contained herein, the Consultant shall, in the performance
                  of the
                  services be, at all times, an independent contractor and the services
                  shall be carried on by the Consultant under its own supervision
                  and at its
                  own risk.

              

      

       

      
        	8.  	
                Subject
                  to the terms hereof, this Agreement will have a term of six months
                  from
                  the date hereof and may be extended from time to time by mutual
                  agreement
                  of the parties hereto. Notwithstanding the foregoing, this Agreement
                  may
                  also be terminated by either party hereto on thirty (30) days written
                  notice given in advance.

              

      

       

      
        	9.  	
                Subject
                  to regulatory approval:

              

      

      

      
        	a)  	
                Fees
                  for services rendered pursuant to this Agreement shall be $2,500
                  per
                  month. The Corporation shall pay the Consultant on or before the
                  first day
                  of each month during the term hereof subject to earlier termination
                  thereof pursuant to paragraph 8.

              

      

       

      
        	b)  	
                The
                  Consultant shall be responsible for all expenses incurred by the
                  Consultant in the performance of the services under this Agreement,
                  including travel expenses except for any expenses, which the Corporation
                  has approved in writing in advance. The Corporation shall reimburse
                  the
                  Consultant within thirty (30) days of an expense account being
                  approved by
                  the Corporation. The Consultant has a pre-approved spending limit
                  of $100
                  per month, to be used in the Consultant’s normal course of fulfilling its
                  duties. These expenses shall include, but not be limited to: long
                  distance
                  and postage charges, as well as minor entertainment
                  charges.

              

      

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

         

      

      
        	10.  	
                This
                  Agreement shall enure to the benefit of and be binding upon the
                  parties
                  hereto, their respective legal personal representatives, successors
                  and
                  assigns. This Agreement shall not be assignable by the Consultant,
                  nor
                  shall the Consultant sub-contract the performance of any of its
                  obligations under this Agreement, nor shall the obligations of
                  the
                  Consultant under this Agreement be performed by another, without
                  the prior
                  written consent of Corporation.

              

      

       

      
        	11.  	
                This
                  Agreement is subject to, and the rights of the parties shall be
                  governed
                  by, the laws of the Province of Alberta and the parties hereby
                  irrevocably
                  attorn to the exclusive jurisdiction of the courts of the Province
                  of
                  Alberta.

              

      

       

      
        	12.  	
                Time
                  shall be of the essence herein.

              

      

       

      
        	13.  	
                Any
                  notice to be given by either party to the other hereunder shall
                  be
                  sufficient if in writing and sent by fax, registered or certified
                  mail,
                  return receipt requested or such address as either party may have
                  given to
                  the other in writing.

              

      

       

      If
        to the
        Corporation:        Triangle
        Petroleum Corporation

      Attention
        Mark Gustafson

      1600,
        144 - 4 Avenue SW

      Calgary,
        Alberta T2P 3N4

       

      If
        to the
        Consultant:                Redwood
        Capital Corporation

      Attention
        Jason Krueger

      910,
        706
        - 7 Avenue SW

      Calgary,
        Alberta T2P 0Z1

      

      
        	14.  	
                In
                  the event that notice is given by mail, it shall be deemed to have
                  been
                  received five (5) business days after deposit at the registration
                  wicket
                  of any post office and on the date of actual receipt in the event
                  of a
                  facsimile or E-mail transmission.

              

      

       

      
        	15.  	
                Any
                  amendments to this Agreement must be in writing and signed by both
                  parties.

              

      

       

      
        	16.  	
                The
                  waiver by either party of any default by the other party under
                  this
                  Agreement shall not operate as a waiver of any future default,
                  whether of
                  a like or different nature.

              

      

       

      
        	17.  	
                Should
                  any provision of this Agreement or its consideration be or become
                  illegal
                  or unenforceable, it or they shall be considered separate and severable
                  from this Agreement and its
                  conditions.

              

      

      

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF, THE
        PARTIES HERETO HAVE EXECUTED THIS Agreement on the date and year first above
        written.

       

       

       

      TRIANGLE
        PETROLEUM CORPORATON

      .

       

      Per:
        /s/
        MARK GUSTAFSON

      Mark
        Gustafson, President

       

        

       REDWOOD
        CAPITAL CORPORATION

        

      Per:
        /s/
        JASON KRUEGER

      Jason
        Krueger, President

       

       

      
        
          
          

        

        
          4Exhibit
        10.12

      

      MASTER

      LICENSE
        AGREEMENT

      FOR
        USE OF PROPRIETARY DATA

      

      

      

      This
        Master License Agreement (the “Agreement”)
        is
        dated effective this the 15th
        day of
        June, 2005, between Millennium Seismic Ltd. with offices located at 1670,
        700 -
        2nd
        Street
        S.W. Calgary, Alberta T2P 2W1 (hereinafter “Millennium”)
        and
        Elmworth Energy Corporation,1600, 144 - 4th
        Avenue
        S.W.., Calgary, Alberta T2P 3N4 (hereinafter “Licensee”).

      

      WHEREAS,
        Millennium owns or otherwise has the right to license to others the right
        to use
        certain geophysical data previously acquired or which is to be acquired by
        or on
        behalf of Millennium; and 

      

      WHEREAS,
        Licensee has expressed an interest in obtaining a license to use certain
        of the
        data from Millennium and Millennium desires to license the use of such data
        to
        Licensee.

      

      Accordingly,
        Millennium does hereby grant to Licensee the non-exclusive right to use the
        Data
        in accordance with the terms and conditions set forth below:

      

      1.
        DEFINITIONS

      

      1.1 “Consultants”
        shall
        mean a third party (whether individual, corporate or other entity) engaged
        by
        Licensee to interpret, reprocess or make other technical studies of the
        Data.

      

      1.2 “Data”
        shall
        mean the geophysical data within the geographical area described in the
        applicable Supplemental Agreement attached hereto and made part hereof,
        regardless of the form or medium on which it is displayed and which Millennium
        either owns or will own or for which Millennium has or will have the right
        to
        grant use licenses. The data shall be delineated by line number and/or program
        name and approximate mileage (or square mileage) and includes related supporting
        documentation including survey data, surveyor's notes, driller's notes and
        observer's notes.

      

      1.3 “Disclose”
        shall
        mean to display or show the Data, by any means whatsoever including, without
        limitation, by computer workstation.

      

      1.4 “Partial
        Third Party Asset Acquisition”
        shall
        mean any transaction or series of transactions entered into by Licensee whereby
        any Third Party (other than a Related Entity) acquires all or any portion
        of the
        petroleum exploration assets, including owned or licensed geophysical data,
        of
        Licensee.

      

      1.5 “Partners”
        shall
        mean those Third Parties which become contractually related to Licensee in
        Third
        Party Business Transactions (not necessarily “partners” in the legal
        context).

      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

         

      

      1.6 “Prospective
        Partners”
        shall
        mean those Third Parties with which Licensee is, or shall be, conducting
        bona
        fide negotiations in an endeavor to conclude a Third Party Business
        Transaction.

      

      1.7 “Prospective
        Purchasers”
        shall
        mean those Third Parties with which Licensee is, or shall be conducting bona
        fide negotiations in an endeavor to conclude a Third Party Acquisition or
        a
        Partial Third Party Asset Acquisition whereby the Licensee or all or a portion
        of its petroleum exploration assets is acquired by a Third Party.

      

      1.8 “Purchasers”
        shall
        mean Third Parties which consummate a Third Party Acquisition or a Partial
        Third
        Party Asset Acquisition with Licensee.

      

      1.9 “Related
        Entities”
        shall
        mean corporations, partnerships, trusts, or other entities which, as of the
        date
        of any Supplemental Agreement, are (i) at least 51% owned or controlled,
        directly or indirectly, by Licensee or (ii) own or control at least 51%,
        directly or indirectly, of Licensee as well as those which are at least 51%
        owned or controlled, directly or indirectly, by the same entity which owns
        or
        controls Licensee as of the date of this License Agreement.

      

      1.10 "Supplemental
        Agreement" or "Supplement"
        shall
        mean those documents, numbered consecutively (Supplemental Agreement No.
        1, No.
        2, etc.) which shall cover each separate Data licensing transaction contemplated
        herein. Each Supplement shall be incorporated herein by reference and made
        a
        part of this Agreement. In the event of any conflict between a term or provision
        of any Supplement and a corresponding term or provision of this Agreement,
        the
        term or provision of this Agreement shall govern unless specifically stated
        to
        the contrary in the applicable Supplement. 

      

      1.11 “Third
        Party”
        shall
        mean any corporation, individual, partnership, trust or other entity not
        a party
        to this Agreement (including Purchasers and Partners and Prospective Purchasers
        and Partners) other than a Related Entity.

      

      1.12 “Third
        Party Acquisition”
        shall
        mean any transaction entered into by Licensee after the date hereof whereby
        any
        Third Party (other than a Related Entity) acquires (i) in excess of 50% of
        the
        outstanding voting securities or otherwise gains effective control of Licensee
        or (ii) all of the petroleum exploration assets or business operations of
        Licensee.

      

      1.13 “Third
        Party Business Transactions”
        shall
        mean farm-outs, operating agreements, acreage trades, areas of mutual interest,
        joint bidding agreements and similar business transactions for the joint
        exploration, development or production of a particular geographical
        area(s).

      

      1.14 “Transfer”
        shall
        mean the sale, assignment, transfer, exchange, trade, encumbrance, or other
        disposition of the Data to Third Parties and Related Entities.

      

      2.
        OWNERSHIP
        OF THE DATA

      

      Licensee
        acknowledges that the Data is a valuable copyright and trade secret of
        Millennium and that title to and ownership rights in the Data at all times
        shall
        remain vested. Licensee agrees to take any and all action reasonably necessary
        to insure that its employees, representatives or agents do not violate the
        terms
        and conditions of this Agreement including, but not limited to the limitations
        on access to the Data set forth herein. Licensee recognizes that Millennium
        may
        enter into agreements with other parties to license the Data covered by a
        Supplement hereto, and that Millennium is free to license, use, sell or in
        any
        other manner dispose of the Data upon such terms and conditions as Millennium
        may elect.

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

         

      

      3.
        DATA
        DELIVERY/PAYMENT

      

      3.1 Data
        delivered to Licensee under the terms of this Agreement shall be accompanied
        by
        a Supplemental Agreement which shall reference this Agreement and describe
        in
        detail the content and form of the Data, as well as the license fee payable
        therefor. Acceptance of the Data and execution of the Supplement by the Licensee
        shall subject Licensee and the Data to the terms and conditions hereof and
        thereof.

      

      3.2 Upon
        the
        execution of each Supplemental Agreement, Licensee will be invoiced for the
        amount of the quoted license fee plus applicable, actual and reasonable,
        tape
        copying, handling, reproduction and splicing charges and shipping and insurance
        costs and applicable taxes, if any. Such invoice, which shall reference this
        Agreement and the applicable Supplemental Agreement, shall be payable as
        specified therein.

      

      3.3 All
        past
        due invoices (or portions thereof) shall bear interest at the rate of twelve
        percent (12%) per annum (or such lesser, maximum amount allowed by applicable
        law) until paid.

      

      3.4 In
        the
        event any sales, use, gross receipts or similar tax is imposed on the licensing
        of Data or is thereafter levied or assessed against Millennium as a consequence
        of the licensing of Data by Millennium to Licensee hereunder, at any time
        after
        delivery of Data to Licensee, such taxes shall be for the sole account of
        Licensee, which shall promptly reimburse Millennium in full for any taxes
        so
        paid by Millennium upon receipt by Licensee of a Millennium invoice, together
        with a copy of Millennium’s check in payment thereof or a copy of the
        assessment, therefor.

      

      4.
        TERM

      

      4.1 As
        for
        Data delivered by Millennium to Licensee under the terms hereof, the term
        of the
        applicable Supplement shall terminate thirty (30) years after delivery of
        such
        Data to Licensee. The term of this Agreement shall remain in effect so long
        as
        any Supplement is in effect and thereafter until terminated by either party
        giving thirty (30) days prior written notice thereof to the other party.
        

      

      4.2 At
        the
        termination of each Supplement, all copies of the Data, and any physical
        manifestation thereof which is then in the possession of Licensee shall be
        promptly returned by Licensee to Millennium. In the event any such Data or
        manifestations thereof are not then in the possession of Licensee, Licensee
        shall provide to Millennium a full accounting of the disposition of same
        by
        Licensee. 

      

      4.3 In
        the
        event of the breach by Licensee of any condition or provision of this License
        Agreement concerning prohibitions against or restrictions imposed on Disclosure
        or Transfer of the Data, the applicable Supplemental Agreement thereupon
        shall
        terminate at the option of Millennium, exercisable in its sole discretion
        and,
        if such option is so exercised, the terms of paragraph 4.2 above shall
        apply.

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      5.
        RIGHTS
        OF LICENSEE

      

      5.1 Subject
        to Licensee's obligation to make payment as specified in each Supplemental
        Agreement, Millennium hereby grants to Licensee the paid-up, non-exclusive
        right
        to use the Data for internal purposes and Licensee shall not Disclose, Transfer
        or otherwise dispose of the Data, except as specifically provided
        below:

      

      A. Related
        Entities:
        Licensee
        may Disclose or Transfer the Data which is the subject of any Supplement
        to a
        Related Entity and with no additional license fee payable to Millennium;
        provided, however, that:

      

      (1) The
        Related Entity shall be bound by the terms of this Agreement to the same
        extent
        as is Licensee and shall execute a document to that effect (which document
        shall
        be provided to and be reasonably acceptable to Millennium); and

      

      (2) In
        the
        event that, after the date of any Supplemental Agreement, any Third Party
        shall
        acquire control of a Related Entity, the situation shall, at that time, be
        considered as a Third Party Acquisition and all provisions herein concerning
        Third Party Acquisitions set forth in Clause D. below shall apply.

      

      B. Consultants:
        Licensee
        may make available, but may not Transfer, the Data to a Consultant retained
        by
        Licensee to reprocess and/or interpret the Data, provided that the Consultant
        shall agree, in writing (a copy of which, upon request, will be provided
        to
        Millennium), to the following:

      

      (1) That
        the
        reprocessing and/or interpretation of the Data performed by the Consultant
        shall
        be for the sole benefit of Licensee and that the Consultant shall not retain
        any
        copies of the Data or the results of the reprocessing and/or interpretation
        thereof and, upon completion of same, shall deliver all copies thereof to
        Licensee; and

      

      (2) That
        the
        Data shall remain in the physical possession of Licensee and will not, except
        in
        those situations where so specifically permitted as provided herein, actually
        be
        surrendered to any Consultant without the prior written consent of Millennium;
        and

      

      (3) The
        Consultant shall sign a confidentiality agreement with respect to the
        Data.

      

      C. Prospective
        Partners/Purchasers:
        Licensee
        may Disclose, but may not Transfer, the Data to (i) Prospective Partners
        in
        Third Party Business Transactions now or hereafter in negotiation and (ii)
        Prospective Purchasers in Third Party Acquisitions (including Partial Third
        Party Asset Acquisition) now or hereafter in negotiation, provided that all
        parties shall agree, in writing, to the following:

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

         

      

      (1) Any
        Disclosure to a Prospective Purchaser or Partner shall be limited to seismic
        sections or portions thereof displaying only Data relevant to those geographical
        areas subject to the negotiation; and

       

      (2) Prospective
        Purchasers or Partners shall not utilize the Data in making any interpretation
        thereof; and

       

      (3) The
        Prospective Purchasers or Partners shall agree to maintain the confidentiality
        of the Data as specified herein; and

       

      (4) Such
        Disclosure shall be made to such Prospective Purchasers or Partners individually
        on the premises of Licensee, for a period of time not to exceed a total of
        six
        (6) hours, whether consecutively or not, in a secure environment whereby
        said
        Prospective Purchasers or Partners are unable to transcribe, photocopy, transmit
        from such premises electronically or by other means or otherwise depart
        Licensee’s premises with knowledge of the Data comparable to having a copy of
        the Data.

      

      D. Acquisitions/Purchasers:
        Licensee
        may Transfer the Data to Purchasers in Third Party Acquisitions or a Partial
        Third Party Asset Acquisition consummated after delivery of the Data to Licensee
        and provided that such Purchaser(s) shall (i) execute a Master License Agreement
        with substantive terms as contained herein with respect to such Data and
        (ii)
        pay to Millennium a license transfer fee in an amount to be mutually agreed
        upon.

      

      E. Partners:
        Licensee
        may Transfer the Data to Partners in Third Party Business Transactions
        consummated before or after delivery of the Data to Licensee provided that
        such
        Partner(s) shall (i) execute a Master License Agreement with substantive
        terms
        as contained herein with respect to such Data and (ii) pay to Millennium
        a
        license transfer fee in an amount equal to 50% of that paid or payable by
        Licensee with respect to all such Data.

       

      F. Government
        Agencies:
        The
        Data may be disclosed by Licensee to government agencies only to the extent
        such
        disclosure is specifically required by law. Licensee agrees to immediately
        inform Millennium upon the receipt of any request or demand for disclosure
        made
        upon Licensee by a government agency so that Millennium may seek a protective
        order or other protection of confidentiality. Licensee shall limit the
        disclosure to the greatest lawful extent. 

      

      5.2 Licensee
        may make copies of any Data for the sole purpose of using such copies pursuant
        to the rights granted herein; provided that all such copies shall bear notice
        of
        the restricted use of the Data as contained in the “Notice” section on the Data
        or its container. Such “Notice” shall provide as follows:

      

      “WARNING

      

      This
        data
        is proprietary to and a trade secret of Millennium Seismic, Inc. The use
        of this
        data is restricted to companies holding a valid use license from Millennium
        and
        is subject to the confidentiality terms of that license. The data may be
        disclosed or transferred only as expressly authorized in the license.
        Unauthorized disclosure, use, reproduction, reprocessing or transfer of this
        data to or by a third party is strictly prohibited.”

      

      This
        notice shall not be removed, obliterated, concealed or otherwise obscured
        by
        Licensee or those to whom the Data is Disclosed or Transferred, as permitted
        in
        this Agreement.

      

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

         

      

      5.3 Licensee
        shall not have access to Millennium’s original magnetic media, but may obtain a
        copy of the original at the normal pricing in effect at the time Data is
        ordered
        by Licensee hereunder. Licensee’s use of the tape(s) so obtained and the
        information contained on or derived from the tapes shall be restricted to
        the
        same rights as herein granted for the use of Data covered by this
        Agreement.

      

      6.
        OBLIGATIONS/REPRESENTATIONS
        OF MILLENNIUM

      

      6.1 THE
        DATA
        DELIVERED TO LICENSEE HEREUNDER SHALL BE, TO THE BEST OF THE KNOWLEDGE,
        INFORMATION AND BELIEF OF MILLENNIUM, ACCURATELY PREPARED IN ACCORDANCE WITH
        ACCEPTED PRACTICES OF THE GEOPHYSICAL PROFESSION, BUT LICENSEE ACKNOWLEDGES
        IT
        IS ACCEPTING THE DATA “AS IS” AND MILLENNIUM MAKES NO REPRESENTATION OR
        WARRANTY, EXPRESS OR IMPLIED, OF ANY KIND OR DESCRIPTION IN RESPECT TO THE
        QUALITY OR ACCURACY OF THE DATA. SUCH DATA IS DELIVERED HEREUNDER WITH THE
        EXPLICIT UNDERSTANDING AND AGREEMENT THAT ANY ACTION TAKEN OR EXPENDITURES
        MADE
        BY LICENSEE BASED ON ITS EXAMINATION, EVALUATION, INTERPRETATION OR USE OF
        THE
        DATA SHALL BE AT ITS OWN RISK AND RESPONSIBILITY AND LICENSEE SHALL HAVE
        NO
        CLAIM AGAINST MILLENNIUM AS A CONSEQUENCE THEREOF AND HEREBY RELEASES MILLENNIUM
        FROM ANY AND ALL LIABILITY RELATIVE THERETO. IN THE EVENT THE DATA HAS YET
        TO BE
        RECORDED, MILLENNIUM REPRESENTS ONLY THAT IT WILL BE RECORDED BY THE USE
        OF SUCH
        INSTRUMENTATION, EQUIPMENT AND FIELD TECHNIQUES AS ARE CURRENTLY IN COMMON
        USE
        IN THE INDUSTRY.

      

      6.2 Millennium
        agrees to defend and hold Licensee harmless from any claims brought against
        it
        or Licensee by any Third Party (other than Licensee or a Related Entity)
        claiming infringement of a patent by Millennium in its performance of its
        obligations hereunder, and all liabilities arising therefrom, provided Licensee
        notifies Millennium promptly in writing of any such infringement claims against
        it and gives Millennium authority, information and assistance, at the expense
        of
        Millennium, in defense of such proceeding. Licensee may, at its sole cost,
        be
        represented by its own counsel, and may participate in any proceeding to
        which
        it and Millennium are defendants, provided, however, Millennium shall control
        the defense thereof.

      

      6.3 Millennium
        will defend and hold Licensee harmless from any claims which may be made
        against
        Licensee by any Third Party (other than a Related Entity) or employees of
        Millennium growing out of or related to the conduct of Millennium or its
        operations in acquiring and processing the Data licensed to Licensee pursuant
        hereto, provided Licensee notifies Millennium promptly in writing of any
        such
        claims against it and give Millennium authority, information and assistance
        (at
        Millennium’s expense) for the defense or assistance in defense of such
        proceedings. Such defense will be provided by Millennium with counsel of
        its
        choosing; however, notwithstanding the foregoing, Licensee may, at its option
        and its sole cost, be represented by counsel of its choosing, and participate
        in
        proceedings to which it and Millennium are defendants, provided, however,
        Millennium shall control the defense thereof.

      

      6.4 Millennium
        makes no guarantee that leases for areas covered by the Data will be granted
        to
        Licensee or other exploration activity will be authorized for the area covered
        by the Data by any government entity or other third party and any implied
        representation to that effect is hereby expressly negated.

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

         

      

      6.5 Notwithstanding
        anything to the contrary contained hereinabove, in no event shall either
        party
        be liable for punitive, indirect, incidental or consequential damages resulting
        from or arising out of this Agreement, including, without limitation, loss
        of
        profit or business interruption, however same may be caused.

      

      6.6 Millennium
        shall retain either original field tapes or summed tapes, at Millennium’s
        choice, for a period of at least five (5) years from the date of the original
        acquisition of the Data.

      

      7.
        DATA
        ACQUISITION

      

      7.1 In
        the
        event the Data has yet to be acquired, the following will apply: 

      

      7.1.1 The
        Data
        will be gathered and processed by Millennium and/or other reputable geophysical
        contractors (and reputable sub-contractors) selected at Millennium's discretion,
        under the direction of Millennium, using personnel, instrumentation, parameters
        and techniques as set forth in the Millennium proposal regarding the acquisition
        and processing of such Data. The standards of the industry will be followed
        regarding testing and calibration of instruments for accuracy and performance
        specifications. 

      

      7.1.2 Millennium
        agrees to use its best efforts in locating the geophysical Data as indicated
        on
        the specific map attached to each Supplemental Agreement for any particular
        line
        or program. However, Millennium reserves the right to make program changes,
        as
        deemed necessary by Millennium, due to permit, terrain or other considerations
        which may arise during field or processing operations.

      

      7.1.3 If
        Licensee is an original underwriter of the Data acquisition and/or processing,
        further provisions, if any, concerning the obligations of the respective
        parties
        will be set forth in a separate definitive agreement covering such
        matters.

      

      8.
        ASSIGNMENT

      

      Neither
        party may assign this Agreement, in whole or in part, or, sublet or transfer
        its
        rights or obligations hereunder, except as expressly authorized hereinabove,
        without the prior written approval of the other party which approval shall
        not
        be reasonably withheld.

      

      9.
        NOTICES

      

      9.1 All
        notices permitted or required to be given under the terms of this Agreement
        shall be in writing and shall be deemed effective upon receipt if sent by
        air
        mail, registered or certified and return receipt requested, post prepaid,
        and
        addressed to the respective parties hereto at their respective addresses
        shown
        below:

       

      
        
          	Millennium	Licensee
	 	 
	Millennium Seismic Ltd.	Elmworth Energy Corporation
	1670, 700 - 2nd
                  Street S.W. 	1600, 144 - 4th
                  Avenue S.W.
	Calgary, Alberta T2P 2W1	Calgary, Alberta T2P 3N4
	Attention: Ron
                  Chiovetti	Attention: 
	Telephone: 403-298-0451	Telephone: (403) 296-0795 (ext
                  222)
	Fax:  403-298-0455	Fax: 

        

      

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

         

      

      or
        at
        such other address as shall be designated in accordance with this Notice
        provision. Notices may also be given by telex, telecopier, telefax, e-mail
        or
        other electronic means or by commercial courier/messenger service shall also
        be
        effective upon receipt.

      

      9.2 Either
        party may change its address for notices purposes at any time upon giving
        written notice specifying such new address and the effective date of such
        address change to the other party, as provided above.

       

      10.
        WAIVER

      

      10.1 The
        rights herein given to either party hereto may be exercised from time to
        time,
        singularly or in combination, and the waiver of one or more of such rights
        shall
        not be deemed to be a waiver of such right in the future or of any one or
        more
        of the other rights which the exercising party may have.

       

      10.2 No
        waiver
        of any breach of a term, provision or condition of this Agreement by one
        party
        shall be deemed to have been made by the other party hereto unless such waiver
        is expressed in writing and signed by an authorized representative of such
        party, and the failure of either party to insist upon the strict performance
        of
        any term, provision or condition of this Agreement shall not be construed
        as a
        waiver or relinquishment in the future of the same or any other term, provision
        or condition.

      

      11.
        GOVERNING
        LAW/DISPUTES

      

      11.1 All
        questions arising out of or concerning this Agreement or its validity,
        interpretation, performance or breach shall be governed and decided by
        application of the appropriate laws (except for any rule of such laws which
        would make the law of any other jurisdiction applicable hereto) of the Province
        of Alberta.

      

      11.2 The
        parties agree to attempt to resolve all disputes between them concerning
        this
        Agreement in an amicable manner. However, any dispute between the parties
        which
        cannot be so resolved by mutual agreement shall be resolved and decided by
        the
        federal or Provincial courts of the Province of Alberta and the parties hereto
        do hereby irrevocably submit themselves to the jurisdiction of such courts
        for
        such purposes.

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

      12.
        ENTIRE
        AGREEMENT

      

      There
        are
        no understandings or agreements relative to this Agreement that are not fully
        expressed herein. This Master License Agreement, all Supplemental Agreements
        hereto and any Exhibits and Schedules to either shall comprise the entire
        agreement of the parties concerning the subject matter hereof. No modification,
        amendment or addition to this Agreement or any Supplement may be effected
        unless
        the same are reduced to writing and signed by both parties.

      

      IN
        WITNESS WHEREOF,
        the
        parties have caused this Master License Agreement to be executed as of the
        date
        first above written.

       

      
        	Licensee:	Millennium:
	 	 
	Elmworth Energy
                Corporation 	Millennium Seismic
                Ltd.
	1600, 144 - 4th
                Avenue S.W. 	1670, 700 - 2nd
                Street S.W.
	Calgary AB T2P 3N4 	Calgary AB T2P 2W1
	Attention: Ron
                Hietala	Attention: Ron
                Chiovetti
	Telephone: (403)
                296-0795 (ext 222) 	Telephone: 403-298-0451
	Fax: 	Fax: 403-298-0455
	 	 
	By: /s/
                RON HIETALA	By: /s/
                RON CHIOVETTI
	
                Ron
                  Hietala, President 

              	
                Ron
                  Chiovetti, President 

              
	 	 
	Date:
                _______________________________	Date:
                _______________________________

      

      
 

      
        
          
          

        

        
          9

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