Item 1.01 Entry into a Material Definitive Agreement

Effective November 25, 2008, we entered into a share purchase agreement, with LNG Energy Ltd. and LNG Energy (BC) Ltd., wherein LNG Energy has agreed to purchase 100% of our interest in LNG BC, or 100 Class A common shares of LNG BC owned by our company, for the purchase price of US$250,000. Once purchased, LNG Energy will be the sole shareholder of LNG BC and LNG Energy shall forgive a loan to our company of Cdn$300,000 secured by way a demand loan bearing interest at 8% per annum entered into on March 12, 2008. We also entered into a warrant cancellation agreement with Kepis & Pobe Investments Inc. pursuant to which 3,000,000 share purchase warrants held by Kepis & Pobe have been cancelled.

Item 9.01 Financial Statements and Exhibits

10.1 Share Purchase Agreement dated November 25, 2008.

10.2 Warrant Cancellation Agreement dated November 28, 2008