X0203 3 2009-10-01 0 0001287900 RANCHER ENERGY CORP. RNCHQ 0001475566 Bennett Jeffrey 999 18TH STREET SUITE 3400 DENVER CO 80202 1 0 0 0 Common Stock 3000 D Option 0.035 2010-11-01 2019-12-31 Common Stock 2500000 D Convertible Promissory Note 0.02 2009-10-27 2010-11-01 Common Stock 1250000 D The Convertible Promissory Note is for $25,000 and has an interest rate the greater of 12% per annum or 3% plus prime. The Note has a maturity date of 11/1/10. The Put is payable before the due date. The Note is convertible at a rate of $0.02 per share and is convertible in part or in whole. /s/ Jeffrey B. Bennett 2009-11-04