4. IDS Letter of Intent	9 Months Ended
Jun. 30, 2013
Notes
4. IDS Letter of Intent	4. IDS Letter of intent On September 14, 2011 and as last amended on August 13, 2013, the Company entered into a letter of intent (“LOI”) with IDS Offshore Inc. (“IDS”) pursuant to which the Company may acquire the exclusive rights to certain intellectual property and patents surrounding the rapid oil boom project held and developed by IDS (the “Project”), for total cash consideration of $4,265,000 payable at various dates over a 3 year period commencing on March 31, 2014, and issuance of 5,000,000 common shares of the Company on signing the amended letter of intent (issued, valued at $0.05/share), and a total 7,500,000 common shares of the Company upon completion of various phases of the Project. The cash consideration will be initially used to develop a prototype. The costs associated with the project will be expensed until capitalization criteria are met.

4. IDS Letter of Intent

9 Months Ended

Jun. 30, 2013

4. IDS Letter of intent

On September 14, 2011 and as last amended on August 13, 2013, the Company entered into a letter of intent (“LOI”) with IDS Offshore Inc. (“IDS”) pursuant to which the Company may acquire the exclusive rights to certain intellectual property and patents surrounding the rapid oil boom project held and developed by IDS (the “Project”), for total cash consideration of $4,265,000 payable at various dates over a 3 year period commencing on March 31, 2014, and issuance of 5,000,000 common shares of the Company on signing the amended letter of intent (issued, valued at $0.05/share), and a total 7,500,000 common shares of the Company upon completion of various phases of the Project.

The cash consideration will be initially used to develop a prototype. The costs associated with the project will be expensed until capitalization criteria are met.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Scout Exploration, Inc 10-Q