EXHIBIT 10.4 FORM OF SUBORDINATION AGREEMENT SUBORDINATION AGREEMENT This SUBORDINATION AGREEMENT (this "AGREEMENT"), dated as of June 20, 2006 is among GALAXY ENERGY CORPORATION, a Colorado corporation ("BORROWER"), DOLPHIN ENERGY CORPORATION, a...Subordination Agreement • June 26th, 2006 • Galaxy Energy Corp • Crude petroleum & natural gas • New York
ARTICLE I DEFINITIONSSecurities Purchase Agreement • June 26th, 2006 • Galaxy Energy Corp • Crude petroleum & natural gas • Colorado
EXHIBIT 10.3 FORM OF WARRANT NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM...Securities Purchase Agreement • June 26th, 2006 • Galaxy Energy Corp • Crude petroleum & natural gas
