8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

September 5, 2008

Date of Report (Date of earliest event reported)

ENTHEOS TECHNOLOGIES, INC.
AND SUBSIDIARIES

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation)

000-30156
(Commission File Number)

98-0170247
(I.R.S. Employer Identification No.)

888 3^rd Street, Suite 1000, Calgary, Alberta, T2P 5C5

(Address of principal executive offices)

(800) 755-5815

 (Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SECTION 1. Registrant's Business and Operations

Item 1.01 – Entry into a Material Agreement

On September 5, 2008, Entheos Technologies, Inc.  entered into an Assignment and Bill of Sale with Bayshore Exploration L.L.C., pursuant to which Bayshore Exploration L.L.C. assigned to Entheos Technologies, Inc.  a 21.75% working interest in the Bayshore Exploration L.L.C – Cooke No. 6 Well, located at Cooke Ranch, La Salle County, Texas.  Total consideration paid to Bayshore Exploration L.L.C. was $165,000, plus a $16,500 commission to RC Coast Management Ltd.   

A copy of the Assignment and Bill of Sale is attached as an exhibit to this report.

SECTION 2.  Financial Information

None.

SECTION 3.  Securities and Trading Markets

None.

SECTION 4.  Matters Related to Accountants and Financial Statements

None.

SECTION 5.  Corporate Governance and Management

None.

SECTION 6.  [Reserved]

None.

SECTION 7.  Regulation FD

Except for the historical information presented in this document, the matters discussed in this Form 8-K, or otherwise incorporated by reference into this document, contain "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are identified by the use of forward-looking terminology such as "believes", "plans", "intend", "scheduled", "potential", "continue", "estimates", "hopes", "goal", "objective", expects", "may", "will", "should" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, apply to forward-looking statements made by the Company. The reader is cautioned that no statements contained in this Form 8-K should be construed as a guarantee or assurance of future performance or results. These forward-looking statements involve risks and uncertainties, including those identified within this Form 8-K. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These forward-looking statements are based on current expectations, and the Company assumes no obligation to update this information. Readers are urged to carefully review and consider the various disclosures made by the Company in this Form 8-K and in the Company's other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect the Company's business.

Note: Information in this report furnished pursuant to Item 7 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this current report shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended. The furnishing of the information in this current report is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information this current report contains is material investor information that is not otherwise publicly available.

SECTION 8.  Other Events

None.

SECTION 9.  Financial Statements and Exhibits

The following exhibits are furnished as part of this report:

Exhibit 10.1- On September 5, 2008, Entheos Technologies, Inc.  entered into an Assignment and Bill of Sale with Bayshore Exploration L.L.C., pursuant to which Bayshore Exploration L.L.C. assigned to Entheos Technologies, Inc.  a 21.75% working interest in the Bayshore Exploration L.L.C – Cooke No. 6 Well, located at Cooke Ranch, La

Salle County, Texas.  Total consideration paid to Bayshore Exploration L.L.C. was $165,000, plus a $16,500 commission to RC Coast Management Ltd.

SIGNATURES

Pursuant to the requirements of Sections 13 or 15 (d) of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned,  thereunto duly  authorized on this 11th day of September, 2008.

ENTHEOS TECHNOLOGIES, INC.

/s/ Derek Cooper

Derek Cooper

President

Date: September 11, 2008

EX-10.1

EXHIBIT 10.1

ASSIGNMENT AND BILL OF SALE

     THIS ASSIGNMENT AND BILL OF SALE (“Assignment”) executed by Bayshore Exploration L.L.C. , a Texas Limited Liability Company (“Assignor”), whose address is1949 Clens Rd., Bellville, Austin County, Texas  77418, to Entheos Technologies , a Nevada corporation, whose address is Suite 216, 1628 West 1^st Ave, Vancouver, BC, Canada(“Assignees”), dated effective at 12:01 a.m. on September 1, 2008 (said hour and day being hereinafter called the “Effective Time”).

ARTICLE I

 Assignment of Oil and Gas Properties

     Assignor, for Ten and No/100 Dollars ($10.00) and other good and valuable consideration in hand paid by Assignees, the receipt and sufficiency of which consideration are hereby acknowledged and confessed, by these presents does hereby ASSIGN, TRANSFER, SET OVER and DELIVER unto Assignee, in the respective percentages set forth below, all of Assignor’s right, title and interest in and to the following properties described below in Section 1.2.

1.1.

Percentage.

Bayshore Exploration L.L.C                                                                   21.75% of 8/8ths

Assignor                                                                                                  Working Interest

1.2 Properties. The interests granted, bargained, sold, conveyed, assigned and delivered to Assignees pursuant to this Article I and described in this Section 1.2 are hereinafter sometimes collectively called the “Properties”:

     (a) All of Assignor’s right, title and interest in, to and under or derived from the oil and gas leasehold interests, fee interests and mineral interests in the lands described on  Exhibit “A” , (the “Lease”);

     (b) All of Assignor’s right, title and interest in, to and under or derived from the oil and gas well located on the Lease and described on  Exhibit A-2  (the “Well”);

     (c) All of Assignor’s right, title and interest in and to, or derived from, all of the presently existing and valid unitization and pooling agreements and units (including all units formed by voluntary agreement and those formed under the rules, regulations, orders or other official acts of any governmental entity having appropriate jurisdiction) to the extent they relate to any of the interests in the Lease or the Well;

     (d) All of Assignor’s right, title and interest in and to all oil, gas and/or other liquid or gaseous hydrocarbons (collectively, the “Hydrocarbons”) produced from or attributable to the Lease or the Well and attributable to the period from and after the Effective Time;

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     (e) All of Assignor’s right, title and interest in and to, or derived from, all of the presently existing and valid oil sales contracts, casinghead gas sales contracts, gas sales contracts, processing contracts, gathering contracts, transportation contracts, easements, rights-of-way, servitudes, surface leases and other contracts, to the extent the same are assignable and relate to the Lease or the Well;

     (f) All of Assignor’s right, title and interest in and to all personal property and improvements (collectively, the “Equipment”), including without limitation, wells (whether producing, plugged and abandoned, shut-in, injection, disposal or water supply), tanks, boilers, platforms, buildings, fixtures, machinery, equipment, pipelines, utility lines, power lines, telephone lines, telegraph lines and other appurtenances located on, in, under and about the Lease or the Well, to the extent the same are situated upon and used or held for use by Assignor in connection with the ownership, operation, maintenance and repair of the Lease or the Well, subject to the reservations stated below;

     (g) All franchises, licenses, permits, approvals, consents, certificates and other authorizations and other rights granted by governmental authorities and all certificates of convenience or necessity, immunities, privileges, grants and other rights that relate to the Properties or the ownership or operation of any thereof, to the extent the same are assignable (the “Permits”); and

     (h) All of Assignor’s books, records and files related to the any of the properties described in (a) through (f) above, including all (i) abstracts, title opinions, title reports, environmental site assessments, environmental compliance reports, lease and land files, surveys, analyses, compilations, correspondence, filings with and reports to regulatory agencies and other documents, contracts, agreements and instruments that in any manner relate to such properties, (ii) computer databases that are owned by or licensed to Assignor that relate to such properties, (iii) geophysical, geological, engineering, exploration, production and other technical data, magnetic field recordings, digital processing tapes, field prints, summaries, reports and maps, whether written or in electronically reproducible form, that are in the possession of Assignor and relate to such properties and ( iv) all other books, records, files and magnetic tapes containing title or other information that are in the possession of Assignor and relate to such properties (the “Data”),  but specifically excluding  (i) previous offers and economic analyses associated with the acquisition, sale or exchange of such properties, (ii) interpretive information, (iii) personnel information, (iv) corporate, legal, financial and tax information, (v) information covered by a non-disclosure obligation, (vi) information covered by a legal privilege and (vii) any other Data or information that Assignor does not have the right to assign to Assignees.

     TO HAVE AND TO HOLD the Properties unto Assignees, their respective successors and assigns forever, subject, however, to the matters set forth herein.

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ARTICLE II

 Warranty of Title; Permitted Encumbrances

     2.1 Warranty of Title. Assignor is the lawful owner of and has good title to the interests above assigned in and to said Lease, estate rights and property, free and clear from all liens, encumbrances or adverse claims (the “Permitted Encumbrances”).  The Lease is a valid and subsisting lease on the land described above and all rentals and royalties have been paid and all conditions necessary to keep the same in full force have been duly  performed; and  the Assignor does hereby bind itself to warrant and forever defend, all and singular, the Properties unto Assignees, against every person whomsoever lawfully claiming or to claim the same or any part thereof, by, through or under Assignor, but not otherwise, and subject to the Permitted Encumbrances.

     2.2 Disclaimer of Representations and Warranties. THE PROPERTIES ARE ASSIGNED TO ASSIGNEES “AS IS, WHERE IS” AND WITH ALL FAULTS IN THEIR PRESENT CONDITION AND STATE OF REPAIR, WITHOUT RECOURSE. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 2.1 HEREOF, ASSIGNOR HEREBY DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES CONCERNING THE PROPERTIES, EXPRESS, STATUTORY, IMPLIED OR OTHERWISE, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES OF TITLE, THE QUALITY OF HYDROCARBON RESERVES, THE QUANTITY OF HYDROCARBON RESERVES, THE AMOUNT OF REVENUES, THE AMOUNT OF OPERATING COSTS, CONDITION (PHYSICAL OR ENVIRONMENTAL), QUALITY, COMPLIANCE WITH APPLICABLE LAWS, ABSENCE OF DEFECTS (LATENT OR PATENT), SAFETY, STATE OF REPAIR, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, AND ASSIGNEES EXPRESSLY RELEASE ASSIGNOR FROM THE SAME. ASSIGNOR DISCLAIMS ANY AND ALL LIABILITY AND RESPONSIBILITY FOR AND ASSOCIATED WITH THE QUALITY, ACCURACY, COMPLETENESS OR MATERIALITY OF THE RECORDS AND ANY OTHER INFORMATION PROVIDED AT ANY TIME (WHETHER ORAL OR WRITTEN) TO ASSIGNEES, THEIR OFFICERS, AGENTS, EMPLOYEES AND REPRESENTATIVES IN CONNECTION WITH THE PROPERTIES, INCLUDING WITHOUT LIMITATION, QUALITY OF HYDROCARBON RESERVES, QUANTITY OF HYDROCARBON RESERVES, AMOUNT OF REVENUES, AMOUNT OF OPERATING COSTS, FINANCIAL DATA, CONTRACT DATA, ENVIRONMENTAL CONDITION OF THE PROPERTIES, PHYSICAL CONDITION OF THE PROPERTIES AND CONTINUED FINANCIAL VIABILITY OF THE PROPERTIES, AND ASSIGNEES EXPRESSLY RELEASE ASSIGNOR FROM THE SAME.

     2.3 Subrogation. Assignees shall be and are hereby subrogated to all covenants and warranties of title by parties (other than Assignor) heretofore given or made to Assignor or its predecessors in title in respect of any of the Properties.

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ARTICLE III

 Miscellaneous

     3.1 Further Assurances. Assignor covenants and agrees to execute and deliver to Assignees all such other and additional instruments and other documents and will do all such other acts and things as may be necessary more fully to assure to Assignees or its successors or assigns, all of the respective properties, rights and interests herein and hereby assigned or intended to be assigned, including without limitation, executing separate assignments of individual oil, gas and mineral lease or interests therein, which are included in the Properties and which are necessary to facilitate the recognition of Assignee’s ownership of the Properties.

     3.2 Successors and Assigns. All of the provisions hereof shall inure to the benefit of and be binding upon the respective successors and assigns of Assignor and Assignee. All references herein to either Assignor or Assignee shall include their respective successors and assigns.

     3.3 Counterparts. This Assignment may be executed in several original counterparts, all of which are identical, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts shall constitute but one and the same assignment.

     IN WITNESS WHEREOF, the parties hereto have caused this Assignment to be executed on the dates of their respective acknowledgments set forth below, to be effective, however, as of the Effective Time.

Assignor

Bayshore Exploration L.L.C.

/s/Jamin Swantner

Jamin Swantner, President

STATE OF TEXAS	§
COUNTY OF WASHINGTON	§

This instrument was acknowledged before me on the 5th day of September, 2008, by Jamin Swantner, President of Bayshore Exploration L.L.C., a Texas Limited Company, on behalf of said corporation.

 /s/Drake A. Faske

Notary Public in and for the State of Texas

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EXHIBIT “A”

Attached to and made a part of that certain Assignment and Bill of Sale from Bayshore Exploration L.L.C. (“Assignor”) to Entheos Technologies, Inc. (“Assignee”) pertaining to the Bayshore Exploration L.L.C.- Cooke No No.6 Well and the 40-acre proration unit assigned thereto located in LaSalle County, Texas and further described as follows:

Description of the Properties:

Well Name:

Bayshore Exploration L.L.C.-Cooke No.6 Well

Working Interest Ownership:

21.75% of 8/8ths

Net Revenue Interest:

16.3125% of 8/8ths

Leasehold Interest:

21.75% of 8/8ths

Proration Unit:

Bayshore Exploration L.L.C.-Cooke No.6 Well Located at 1107 feet from the South line and 635 feet from the West line of the H.&G.N. R.R. Co. Survey No. 237, Abstract No. 308, La Salle County, Texas, including the 40-acre unit assigned thereto which is the SW/4 of the SW/4 of the H.&G.N.R.R. Co. Survey No.237, Abstract No. 308, La Salle County, Texas.

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