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| Cheetah Oil & Gas Limited |
Exhibit 10.17
| May 12, 2004 |
| ACQUISITION AGREEMENT |
| Between; | Cheetah Oil & Gas Limited | |||
| Box 172, Station A., |
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| Nanaimo, B.C. V9R 5K9 |
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| And | Shareholders of Scotia Petroleum Inc |
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| c/o Suite 902 – 1788 West Broadway6, | ||||
| Vancouver, B.C. V6J 1Y1 |
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Cheetah Oil & Gas Limited agrees to purchase 85.14% of the shares of Scotia Petroleum Ltd. for the following consideration:
| 1. | Cash in the amount of $ 301,887 US to purchase 10,500,000 Scotia Petroleum |
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| Inc. shares held by Robert J. Krznaric, Brent C. Luebkert and Barbara Stronach. | |||
2. Cheetah Shares totaling 256,315 restricted Cheetah Common Stock to purchase 21,018,829 Scotia Petroleum Inc.shares.
3. It is understood that Hari Sharma as President has the agreement from theshareholders representing 85.14% of the outstanding shares of Scotia Petroleum Inc.
| Signed on behalf of Scotia Petroleum Inc. | /s/ Hari Sharma |
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| Hari Sharma, President | |||
| Signed on behalf of Cheetah Oil & Gas Ltd. /s/ Georgina Martin |
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| Georgina Martin, President | ||