INTERNATIONAL OIL & GAS, INC.
16633 North Dallas Parkway, Suite 600
Addison, Texas 75001
March 10, 2002
1066 West Hastings St.
Vancouver, B.C. V6E 3X2
Re: Farmout Agreement Hood County, Texas
This Farmout Agreement (the "Agreement") is dated effective March 10, 2002, by and between International Oil
& Gas, Inc. ("Farmor") and GoEnergy, Inc. ("Farmee"), whereby Farmee may acquire certain rights and benefits
in the drill-site and pro-rata leasehold subject hereto upon the consideration to Farmor of $10,000.00 USD by
Farmee and Farmee's compliance with the terms and conditions hereof.
1. Farmout Acreage and Interests. Farmor is the record title owner to that certain oil and gas leasehold interest
covering certain lands in Hood County, Texas, said leasehold interest being more particularly described in Exhibit
"A" attached hereto and made a part hereof for all purposes (the "Lease").
2. Well. On or before October 31, 2002, Farmee shall commence, or cause to be commenced, the actual drilling
of the Well ("Well") on the drill-site location ("Location") from the legal location on the lands covered by the
Lease, and described in Exhibit "B" and shall thereafter continuously prosecute such drilling operations in a
diligent and workmanlike manner until the Well reaches a depth of 6000 feet beneath the surface of the earth or a
depth sufficient to test the Barnet Shale formation, whichever is lesser.
Unless any unforeseen difficulties are encountered, the Well, as hereinafter defined, drilled hereunder shall each
be completed as a well capable of producing oil and/or gas or plugged and abandoned as a dry hole within one
hundred twenty (120) days after the date actual drilling operations thereon are commenced.
3. Substitute Well. If, during the drilling of the well provided for herein, Farmee encounters a formation or other
physical condition in the well which renders further drilling impractical, Farmee may promptly plug and abandon
the well. The