WORLAND AREA PURCHASE AND SALE AGREEMENT
This Worland Area Purchase and Sale Agreement ("Agreement") is made and
entered into on this 25th day of June, 1998 by and between Continental
Resources, lnc., ("Seller") and Harold G. Hamm, Trustee of the Harold G. Hamm
Revocable Intervivos Trust dated April 23, 1984 ("Buyer").
WHEREAS, pursuant to that certain Purchase and Sale Agreement dated
March 28, 1998, a copy of which is attached hereto as Exhibit "A", and
subsequent Assignment and Bill of Sale documents, which are described on the
Exhibit "B" attached hereto, Seller did acquire certain oil and gas wells,
leases and other rights from several parties. Such documents are
collectively referred to herein as the "BEPCO documents". The conveyance of
interest effected by such documents is herein referred to as the "BEPCO
Acquisition".
AND WHEREAS, the Buyer desires to purchase, and Seller desires to sell,
an undivided fifty percent (50%) of all right, title and interest of
whatsoever nature which Seller acquired in the BEPCO Acquisition.
NOW THEREFORE, in consideration of the mutual benefit to accrue to the
parties hereto and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Seller and Buyer do hereby agree
as follows:
1. PURCHASE PRICE AND PROPERTY BEING SOLD AND PURCHASED: In and for a
total purchase price of $42,550,000.00, Seller shall sell, assign, transfer
and convey unto Buyer an undivided fifty (50%) of all Seller's right, title
and interest in and to the following:
A. All oil & gas leases, overriding royalty interests, mineral and
royalty interests, easements and rights-of-way, contractual rights and
interests, together with all rights and interests appurtenant thereto
or used or obtained in connection therewith which were acquired by
Seller in connection with the BEPCO Acquisition and by virtue of the
BEPCO Documents, and;
B. All oil and gas wells and interests therein, together with all
materials, supplies, machinery, equipment, improvements and other
personal property and fixtures located thereon, associated therewith
or appurtenant thereto that were acquired by Seller in connection with
the BEPCO Acquisition and by virtue of the BEPCO Documents. Such
wells are described on Exhibit "C" hereto
2. EFFECTIVE DATE: The Effective Time of the conveyance contemplated
by this Agreement shall be 7:00 a.m., Mountain Standard Time on June 1, 1998.
It is the intent of the parties that the interest is conveyed from Seller to
Buyer effective as of the same time which Seller received the interests
pursuant to the BEPCO Documents, same as if Buyer had been a party thereto.
3. COVENANTS AND REPRESENTATIONS OF SELLER AND BUYER: To the extent
applicable, Seller and Buyer do hereby adopt and make the same covenants and
representations to one another as were made by the Seller and Buyer in the
Purchase and Sale Agreement attached hereto as Exhibit "A".
4. DESIGNATION OF OPERATOR: Buyer agrees that Seller shall remain and
be Operator of all jointly owned existing or hereafter drilled, created or
acquired units, wells and leases. Buyer agrees to execute any required
Operating Agreements, Unit Agreements or other documents that are now or
hereafter may become necessary to effectuate and/or support Seller being
designated as Operator of such jointly owned units, wells or leases.
5. AREA OF MUTUAL INTEREST: An Area of Mutual Interest ("AMI") is
hereby created which covers the lands outlined on the plat attached hereto as
Exhibit "D". During the term of the AMI, which is ten (10) years from the
date hereof, should either party acquire an interest of whatsoever nature in
the AMI, it shall immediately offer the other party it's proportionate part
of such acquired interest. The non-acquiring party shall have thirty (30)
days from receipt of notice within which to advise the acquiring party
whether it wants to acquire it's proportionate part of such interest for the
actual acquisition cost thereof. The parties proportionate interests in the
AMI is 50% each.
6. CLOSING: On or before July 1, 1998 Buyer shall deliver to Seller
the full purchase price. Immediately upon receipt thereof, Seller shall
deliver to Buyer a fully executed Assignment and Bill of Sale which conveys
interests to the properties, rights and interests being purchased. Such
Assignment and Bill of Sale shall be in the form attached hereto as Exhibit
"E".
IN WITNESS WHEREOF, this Agreement is made and entered into on this 25th
day of June, 1998.
CONTINENTAL RESOURCES, INC.
By: /s/ TOM LUTTRELL
Tom Luttrell
Vice President - Land
HAROLD G. HAMM REVOCABLE INTERVIVOS
TRUST DATED APRIL 23, 1984
By: /s/ HAROLD HAMM
Harold G. Hamm, Trustee
CONTINENTAL RESOURCES, INC.
July 13, 1998
Harold G. Hamm, Trustee of the Harold G. Hamm
Revocable Intervivos Trust
P.O. Box 1032
Enid, OK 73702
RE: Worland Area Purchase and Sale Agreement
dated June 25, 1998
Dear Harold,
Reference is hereby made to that certain Worland Area Purchase and Sale
Agreement dated June 25, 1998 between Continental Resources, Inc., as Seller
and The Harold G. Hamm Revocable Intervivos Trust, as Buyer.
This letter is to set forth in writing the agreement of both parties to
change the Closing date provided for the referenced Agreement by amending
Article 6, thereof to read as follows: "On or before July 17, 1998 Buyer
shall deliver to Seller the full purchase price. Immediately upon receipt
...". All other provisions shall remain as originally written.
If the foregoing is acceptable with you, please indicate your agreement by
signing in the space provided below and returning one (1) executed copy of
this letter to the undersigned. Thank you.
Sincerely,
/s/ TOM LUTTRELL
Tom Luttrell
Vice President - Land
Agreed to and accepted this 13th day of July, 1998
The Harold G. Hamm Revocable Intervivos Trust dated April 23, 1984
By: /s/ HAROLD HAMM
Harold G. Hamm, Trustee
302 N. Independence
P.O. Box 1032 Enid, Oklahoma 73702
(580) 233-8955
EXHIBIT A
PURCHASE AND SALE AGREEMENT
BY AND BETWEEN
BASS ENTERPRISES PRODUCTION CO., ET AL
AS SELLERS
AND
CONTINENTAL RESOURCES, INC.
AS BUYER
DATED MARCH 28, 1998
TABLE OF CONTENTS PAGE
1. Property to be Sold and Purchased . . . . . . . . . . . . . . . . . 1
2. Purchase Price . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3. Deposit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
4. Allocation of Base Purchase Price . . . . . . . . . . . . . . . . . 2
5. Seller's Representations . . . . . . . . . . . . . . . . . . . . . . 2
6. Buyer's Representations . . . . . . . . . . . . . . . . . . . . . . 3
7. Covenants of Seller and Buyer Pending Closing . . . . . . . . . . . 4
8. Due Diligence Reviews . . . . . . . . . . . . . . . . . . . . . . . 6
9. Adverse Environmental Conditions . . . . . . . . . . . . . . . . . . 8
10. Disposal of Materials, Substances, and Wastes; Compliance
with Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
11. Certain Price Adjustments to the Base Purchase Price . . . . . . . . 11
12. Conditions Precedent to Buyer's Obligations . . . . . . . . . . . . 12
13. Conditions Precedent to Seller's Obligations . . . . . . . . . . . . 13
14. The Closing . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
15. After Closing . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
16. Certain Accounting Adjustments to the Purchase Price . . . . . . . . 16
17. Assumption and Indemnification . . . . . . . . . . . . . . . . . . . 18
18. Environmental Assessment and Indemnification by Buyer . . . . . . . 19
19. Disclaimer of Warranties . . . . . . . . . . . . . . . . . . . . . . 19
20. Buyer's Covenant Not to Sue Seller Group . . . . . . . . . . . . . . 20
21. Commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
22. Casualty Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
23. Notices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
24. Survival of Provisions . . . . . . . . . . . . . . . . . . . . . . . 20
25. Miscellaneous Matters . . . . . . . . . . . . . . . . . . . . . . . 21
Exhibit A - Oil and Gas Leases
Exhibit B - Wells
Exhibit C - Assignment and Bill of Sale
Exhibit D - Suits, Actions, or other Legal Proceedings Pending
Exhibit E - Allocation of Values
3
PURCHASE AND SALE AGREEMENT
This Agreement, dated March 28, 1998, is made by and between the
signatory parties shown below under "Sellers" whose address is 201 Main
Street, Fort Worth, Texas 76102 (hereinafter collectively called "Seller")
and Continental Resources, Inc., whose address is P. O. Box 1032, Enid,
Oklahoma 73702 (hereinafter called Buyer");
W I T N E S S E T H:
WHEREAS, Buyer desires to purchase the Properties, as defined below,
from Seller, and Seller desires to sell the same Properties to Buyer, subject
to the terms and conditions of this Agreement.
WHEREAS, It is the parties' intent that Buyer assume all responsibility
and liability as provided herein for all matters relating to the Properties
to be assigned.
NOW, THEREFORE, In consideration of the mutual promises made herein and
the benefits to be derived hereunder, and other good and valuable
consideration, the sufficiency of which is hereby acknowledged, Seller and
Buyer agree as follows:
1. PROPERTY TO BE SOLD AND PURCHASED. Seller agrees to sell, and
Buyer agrees to purchase, for the consideration herein set forth, and subject
to the terms and provisions herein contained, the following described
Properties, rights, and interests:
(a) All rights, titles, and interests of Seller in and to: 1) the
oil, gas, and mineral leases described in Exhibit A hereto; and 2) the
wells described in Exhibit B hereto;
(b) All rights, titles, and interests of Seller in and to, or
otherwise derived from, all presently existing and valid oil, gas, and
mineral unitization, pooling, and communitization agreements,
declarations, and orders (including, without limitation, all units
formed under orders, rules, regulations, or other official acts of any
federal, state, or other authority having jurisdiction, and voluntary
unitization agreements, designations, and declarations) relating to
the properties described in subsection 1.(a) to the extent such
rights, titles, and interests are attributable to the properties
described in subsection 1.(a);
(c) All rights, titles, and interests of Seller in and to all
presently existing and valid production sales contracts, operating
agreements, and other agreements and contracts that relate to any of
the properties described in subsections l.a. and l.b., to the extent
such rights, titles, and interests are assignable and attributable to
the properties described in subsections 1.(a) and 1.(b);
(d) All rights, titles, and interests of Seller in and to all
rights-of-way, easements, surface leases, permits, and licenses
appurtenant to the properties described in subsections 1.(a) and
1.(b); and
(e) All rights, titles, and interests of Seller in and to all
materials, supplies, machinery, equipment, improvements, and other
personal property and fixtures (including, but not limited to,
wellhead equipment, pumping units, flowlines, tanks, buildings,
injection facilities, saltwater disposal facilities, compression
facilities, gathering systems, and other equipment) located on the
properties described in subsections 1.(a) and 1.(b) and used in
connection with the exploration, development, operation, or
maintenance thereof.
The properties and interests specified in subsections l.(a), l.(b), l.(c), l.(d)
and l.(e) are herein sometimes collectively called the "Properties". The
defined term "Properties" shall include seismic data, geological or geophysical
data, including interpretations, environmental studies, or other similar data,
or any interpretations thereof or other data or records related thereto. Seller
shall
1
provide Buyer with such data Seller has in its files, excluding any
interpretations, engineering reports and evaluations, Seller financial
information and all data which Seller considers proprietary or confidential
or that Seller cannot provide to Buyer without breaching, or risking a breach
of, an agreement with a third party.
2. PURCHASE PRICE. The unadjusted purchase price for the Properties
shall be Eighty Six Million Five Hundred Thousand Dollars ($86,500,000.00),
payable in United States dollars, (herein called the "Base Purchase Price").
The Base Purchase Price may be adjusted, as provided in Sections 7.(c), 11.
and 16. hereof. The Base Purchase Price, as so adjusted and as otherwise
adjusted by mutual agreement of the parties herein, shall be called the
"Purchase Price."
3. DEPOSIT. Upon entering into this Agreement, as evidence of good
faith, Buyer shall pay to Seller Eight Million Six Hundred Fifty Thousand
Dollars ($8,650,000.00) hereinafter called the "Deposit". If Buyer and
Seller consummate the transaction contemplated hereby in accordance with the
terms hereof, the Deposit shall be applied to the Base Purchase Price. If
Buyer and Seller do not consummate the transaction contemplated hereby
because of a material default by Seller, in the absence of a default by
Buyer, Seller shall return the Deposit to Buyer and shall, in addition, pay
to Buyer the sum of Two Million Five Hundred Thousand Dollars ($2,500,000.00)
as liquidated damages and not as a penalty. Except as provided in Section
12., if Buyer fails or refuses to consummate the transaction contemplated
hereby, Seller shall retain the Deposit as liquidated damages and not as a
penalty. Buyer stipulates that Seller's damages in the event of Buyer's
wrongful failure to close would be uncertain and that the amount of
liquidated damages provided herein is reasonable. Forfeiture of the Deposit
as liquidated damages as provided herein shall be Seller's sole remedy at law
or in equity for Buyer's failure to close as provided in this Agreement. In
no event shall the Deposit accrue interest.
4. ALLOCATION OF BASE PURCHASE PRICE. Buyer has allocated the Base
Purchase Price to the Properties by various categories. These categories and
the allocations thereto are shown on Exhibit E and have been made in good
faith by Buyer and may be relied upon by Seller for all purposes of this
Agreement.
5. SELLER'S REPRESENTATIONS. Each of the individuals and entities
comprising Seller represent to Buyer that:
(a) Each (other than natural persons) is a legal entity duly
organized and legally existing under the laws of the State of Texas.
Each corporation and limited partnership is qualified to do business
in Wyoming and is in good standing, or will be at Closing.
(b) Each has full power to enter into this Agreement and perform
its obligations hereunder and has taken all necessary action to enter
into this Agreement and perform its obligations hereunder.
(c) Execution and delivery of this Agreement, the consummation of
the transaction contemplated hereby, and compliance with the terms
hereof, will not result in any default under any agreement or
instrument to which Seller, or any individual party thereof, is a
party or by which the Properties are bound that would be material to
this transaction. Execution and delivery of this Agreement will not
violate any contractual provision, order, writ, injunction, decree,
statute, rule, or regulation applicable to Seller, or any individual
party thereof, or to the Properties that would be material to this
transaction, except the following:
(i) Any waivers of preferential rights to purchase that must be
obtained from third parties;
(ii) Compliance with the Hart-Scott-Rodino Antitrust Improvements Act
of 1976 (the "HSR Act"); and,
2
(iii) Any approvals that must be obtained from governmental entities
who are lessors under leases included in the Properties (or who
administer such leases for such lessors) and that are customarily
obtained post-closing.
(d) This Agreement and the Assignment and Bill of Sale provided for
in Section 14.(a)(i) hereof and any other documentation provided for
herein to be executed by Seller, will, when executed and delivered,
constitute the legal, valid, and binding obligations of Seller,
enforceable according to their terms, except as limited by bankruptcy
or other laws applicable generally to creditor's rights and as limited
by general, equitable principles.
(e) Except as disclosed on Exhibit D, there are no pending suits,
actions, or other proceedings in which Seller is a party that
materially affect the Properties (including, without limitation, any
actions challenging or pertaining to Seller's title to any of the
Properties) or affect the execution and delivery of this Agreement or
the consummation of the transaction contemplated hereby.
6. BUYER'S REPRESENTATIONS. Buyer represents to Seller that:
(a) Buyer is a corporation duly organized and legally existing
under the laws of its state of organization. Buyer is qualified to do
business in Wyoming and is in good standing, or will be at Closing.
(b) Buyer has full power and ability to enter into and perform its
obligations under this Agreement (including, but not limited to the
payment of the Purchase Price at Closing) and has taken all necessary
action to enter into this Agreement and perform its obligations
hereunder.
(c) Buyer's execution and delivery of this Agreement, the
consummation of the transaction contemplated hereby, and Buyer's
compliance with the terms hereof, will not result in any default under
any agreement or instrument to which Buyer is a party or by which the
Properties are bound that would be material to this transaction.
Buyer's execution and delivery of this Agreement will not violate any
contractual provision, order, writ, injunction, decree, statute, rule,
or regulation applicable to Buyer or to the Properties that would be
material to this transaction, except the following:
(i) Any waivers of preferential rights to purchase that must
be obtained from third parties;
(ii) Compliance with the "HSR Act;" and,
(iii) Any approvals that must be obtained from governmental
entities who are lessors under leases included in the
Properties (or who administer such leases for such lessors) and
that are customarily obtained post-closing.
(d) This Agreement and the Assignment and Bill of Sale provided for
in Section 14.(a)(i) hereof and any other documentation provided for
herein to be executed by Buyer, will, when executed and delivered,
constitute, the legal, valid, and binding obligations of Buyer,
enforceable according to their terms, except as limited by bankruptcy
or other laws applicable generally to creditor's rights and as limited
by general, equitable principles.
(e) There are no pending suits, actions, or other proceedings in
which Buyer is a party that materially affect the execution and
delivery of this Agreement or the consummation of the
transaction contemplated hereby.
3
(f) Buyer is a knowledgeable purchaser, owner, and operator of oil
and gas properties, has the ability to evaluate, and has evaluated,
the Properties for purchase, and is acquiring the Properties for its
own account and not with the intent to make a distribution within the
meaning of the Securities Act of 1933, as amended (and the rules and
regulations pertaining thereto), or a distribution thereof in
violation of any other applicable securities laws, rules, or
regulations.
(g) Buyer wishes to replace Seller as operator ln every well
described on Exhibit B which Seller presently operates. Accordingly,
Buyer is, or will become, qualified to operate such Properties under
the applicable laws, rules, and regulations of the jurisdiction in
which such Properties are located.
7. COVENANTS OF SELLER AND BUYER PENDING CLOSING. Between the date of
this Agreement and the Closing Date:
(a) Seller shall permit Buyer access as follows:
(i) Seller shall give Buyer and its attorneys and other
representatives, who have a legitimate need to know, access at
all reasonable times during normal business hours to the
Properties and, at Seller's office, to Seller's records
(including, without limitation, title files, division order
files, well files, production records, equipment inventories,
and production severance, and ad valorem tax records)
pertaining to the ownership and operation of the Properties, to
conduct due diligence reviews as contemplated by Section 8.
below. Buyer may make copies of such records at its expense but
shall, if Seller so requests, return all copies so made if the
Closing does not occur. Seller shall not be obligated to
provide Buyer with access to any records or data that Seller
considers to be proprietary or confidential or that Seller
cannot provide to Buyer without breaching, or risking a breach
of, confidentiality agreements with other parties. Until
Closing, all records and data provided shall be subject to the
previously executed Confidentiality Agreement between Buyer and
Seller. SELLER MAKES NO WARRANTY, AND EXPRESSLY DISCLAIMS ALL
WARRANTIES, AS TO THE ACCURACY OR COMPLETENESS OF THE FILES AND
OTHER INFORMATION THAT IT MAY PROVIDE TO BUYER OR THAT MAY BE
PROVIDED BY OTHERS.
(ii) Seller shall make a good faith effort to give Buyer, or
Buyer's authorized representatives, who have a legitimate need
to know, at reasonable times and upon adequate notice to
Seller, physical access to the Properties for the purpose of
inspecting same. Buyer recognizes that some of the Properties
are operated by third parties and that Seller's ability to
obtain access to such Properties, and the manner and extent of
such access, is subject to the consent of such third parties.
Buyer agrees to comply fully with the rules, regulations, and
any instructions issued by Seller or third party (where a
Property is operated by such third party) regarding the actions
of Buyer while upon, entering, or leaving the Properties.
(iii) If Buyer exercises rights of access under this Section
or otherwise, or conducts examinations or inspections under
this Section or otherwise, then (a) Buyer will be accompanied
by Seller's representative at all times; (b) such access,
examination, and inspection shall be at Buyer's sole risk,
cost, and expense, and Buyer waives and releases all claims
against Seller (its affiliates and their respective directors,
officers, employees,attorneys, contractors, and agents) arising
in any way therefrom or in any way connected therewith or
arising in connection with the conduct of its directors,
officers, employees, attorneys, contractors, and agents in
connection therewith; and (c) BUYER SHALL RELEASE, INDEMNIFY,
DEFEND, AND HOLD HARMLESS
4
SELLER (AND ITS PARENT, SUBSIDIARY COMPANIES, AND OTHER
AFFILIATES AND THEIR RESPECTIVE OFFICERS, DIRECTORS,
EMPLOYEES, ATTORNEYS, CONTRACTORS, AND AGENTS) (HEREINAFTER
COLLECTIVELY REFERRED TO AS "SELLER GROUP") FROM ANY AND ALL
CLAIMS, ACTIONS, CAUSES OF ACTION, LIABILITIES, DAMAGES,
LOSSES, COSTS, OR EXPENSES (INCLUDING, WITHOUT LIMITATION,
COURT COSTS AND ATTORNEYS' FEES), OR LIENS OR ENCUMBRANCES FOR
LABOR OR MATERIALS, ARISING OUT OF OR IN ANY WAY CONNECTED
WITH SUCH ACCESS, EXAMINATION, AND INSPECTION. THE FOREGOING
RELEASE AND INDEMNIFICATION SHALL APPLY WHETHER OR NOT SUCH
CLAIMS, ACTIONS, CAUSES OF ACTION, LIABILITIES, DAMAGES,
LOSSES, COSTS, OR EXPENSES ARISE OUT OF (i) NEGLIGENCE
(INCLUDING SOLE NEGLIGENCE, SIMPLE NEGLIGENCE, CONCURRENT
NEGLIGENCE, ACTIVE OR PASSIVE NEGLIGENCE, OR OTHERWISE, BUT
EXPRESSLY NOT INCLUDING GROSS NEGLIGENCE OR WILLFUL MISCONDUCT)
OF SELLER OR ANY OTHER INDEMNIFIED PARTY, OR (ii) STRICT
LIABILITY.
(b) Seller shall continue to conduct its business in its ordinary
course, and in accordance with all applicable ordinances, statutes,
rules, and regulations of all local, state, and federal governments.
Seller shall not enter into or assume any contract or commitment which
is not in the ordinary course of business as heretofore conducted in
association with the Properties and shall carry on its business and
operate the Properties as a reasonably prudent operator. Subject to
existing contractual obligations, Seller shall not conduct, or commit
to participate in, on behalf of Buyer, any operation on the
Properties, or lands pooled or unitized therewith and shall not enter
into a contract for the sale of crude oil from the Properties
continuing in effect past the Effective Date without Buyer's prior
written consent. However, Seller may take such steps and incur such
expenses as it deems necessary in its sole opinion to deal with an
emergency to safeguard any part of the Property without first
consulting with Buyer. As soon as possible after the emergency,
Seller shall advise Buyer of such emergency action. Except as set
forth in this Agreement, Seller shall not sell, assign, transfer,
mortgage, farmout, or otherwise dispose of, abandon, or encumber any
material portion of the Properties.
(c) Seller shall use reasonable efforts, consistent with industry
practices in transactions of this type, to identify, with respect to
each material portion of the Properties, (i) all preferential rights
to purchase that would apply to the transaction contemplated hereby
and (ii) the parties holding such rights. In attempting to identify
the same, Seller shall not be obligated to go beyond its own records.
Seller shall request from the parties so identified, and in accordance
with the documents creating such rights, waivers of the preferential
rights to purchase. Seller shall have no obligation hereunder other
than to attempt to identify such preferential rights and to request
such waivers. Seller shall not be obligated to assure that such
waivers are obtained. Seller may tender to any party refusing to
waive such a preferential right the interest covered by such right at
a value as mutually agreed to by Buyer and Seller which shall be made
in good faith, but in no event shall the value of a well exceed the
value assigned to it by Ryder-Scott Company, an independent petroleum
reservoir engineering company, in its recent Reserve Report dated
January 14, 1998, prepared on behalf of Seller (hereinafter referred
to as the "Ryder-Scott Report") using the present value (future net
income before income taxes discounted at ten percent (10%)) of the
total proved reserves. If Buyer and Seller are unable to agree on a
value, the value for a well shall be determined as provided in Section
11.(a)(ii) using the V/T = PVW/PVC equation for Properties falling in
Categories A and B as shown on Exhibit E. This value shall be used in
determining the value of any interest
5
in a well covered by a preferential right to purchase. The value
shall be determined using the formula as provided in Section
11.(a)(iii) for Properties falling in Category C where F=Seller's net
acres subject to a preferential right to purchase. To the extent
that such an interest is actually sold to a party exercising such a
preferential right, it shall be excluded from the transaction
contemplated hereby, and the Base Purchase Price shall be reduced by
the amount such party paid to Seller for such interest unless the
parties hereto agree otherwise.
(d) If applicable, as soon as practicable after the execution
hereof, Buyer shall prepare and submit any necessary filings in
connection with the transaction contemplated by this Agreement under
the HSR Act. Buyer shall pay all filing fees in connection with such
filing, shall request expedited treatment of such filing by the
Federal Trade Commission ("FTC"), shall promptly make any appropriate
or necessary subsequent or supplemental filings, and shall furnish to
Seller copies of all filings made under the HSR Act at the same time
they are filed with the FTC. Seller shall cooperate with Buyer as to
all filings required by the HSR Act.
(e) After both parties have executed this Agreement, Seller shall
deliver to Buyer a copy of its "pay list" for each well listed on
Exhibit B (which pay list shall include the name, address, social
security number, and applicable share of proceeds of production, to
the extent such information is contained in Seller's records, for each
party to whom Seller is disbursing proceeds of production with respect
to such property); and, a list of all parties for whom it is holding
in suspense proceeds of production. Seller does not represent or
warrant to Buyer the accuracy of the "pay lists" so delivered.
(f) At such time that all Asserted Defects (as hereinafter defined)
have been fully resolved to the satisfaction of both Parties or if no
Defects have been asserted by Buyer as of the Defect Notice Date (as
hereinafter defined)upon Seller's receipt of Buyer's written
confirmation and assurance that all Defects, if any, have been
resolved and Buyer is prepared to close the transaction subject only
to Seller's performance of its closing obligations as set forth in
Section 14(a), Seller shall give Buyer and its accountants access to
any and all accounting information in Seller's possession reasonably
requested by Buyer for the preparation by Buyer, at its sole expense
and risk, of pro-forma financial statements reflecting the financial
performance of the Properties for the most recent three (3) calendar
year(s). Buyer agrees that none of the information compiled for the
purpose of this limited audit shall be used for the purpose of due
diligence by Buyer or otherwise to assert any claim against Seller.
Seller shall have no responsibility whatever for the financial
statements so prepared by Buyer.
8. DUE DILIGENCE REVIEWS.
(a) The term "Defect" as used in this Section shall mean any of the
following:
(i) As of the Effective Date, Seller's ownership of a well
listed on Exhibit B hereto either, (A) entitles Seller to
receive a share of the oil, gas, and other hydrocarbons
produced from, or allocated to, such well that is less than the
share set forth on Exhibit B for such well in the columns
headed "Net Revenue Interest (NRI)" and "Overriding Royalty
Interest (ORI)", excepting any decreases caused by an increase
in the landowner's royalty payable to the Federal and State
Governments or pursuant to contractual obligations, including,
without limitation, sliding scale overriding royalties, which
are tied to amount of production, or as mandated by Federal and
State statutes or as promulgated in the respective Federal and
State Rules and Regulations; or, (B) causes Seller to bear a
share of the cost of operating such well greater than the share
set forth on Exhibit B for such well in the column headed
6
"Working Interest (WI)" (without a proportionate increase in
the share of production to which Seller is entitled from such
well);
(ii) Seller's ownership of a Property is subject to a lien
other than (A) a lien that will be released at or before
Closing, (B) a lien for taxes not yet delinquent, or (C) a lien
under an operating agreement or similar agreement, to the
extent the same relates to expenses incurred that are not yet
due;
(iii) Seller's ownership of a Property is subject to a
preferential right to purchase, unless a waiver of such right
has been obtained with respect to the transaction contemplated
hereby or an appropriate tender of the applicable interest has
been made to the party holding such right and the period of
time required for such party to exercise such right has expired
without such party exercising such right;
(iv) Seller's ownership of a Property is subject to an
imperfection in title that, if asserted, would cause a Defect,
as defined in clause (i) above, to exist, and such imperfection
in title normally would not be waived by reasonable and prudent
persons engaged in the oil and gas business with knowledge of
all the facts and their legal bearing and would materially
impair or prevent Buyer from receiving payment from the
purchasers of production, and would prevent the economic
benefit Buyer could reasonably expect by acquiring the
Properties;
(v) Seller's ownership of a non-producing Property is subject
to an imperfection in title that, if asserted, would cause
Seller's ownership as shown on Exhibit A to be less; and such
imperfection in title normally would not be waived by
reasonable and prudent persons engaged in the oil and gas
business with knowledge of all the facts and their legal
bearing and would materially prevent the economic benefit Buyer
could reasonably expect by acquiring such Property.
(b) Buyer may conduct, to the extent it deems appropriate and at
its sole risk and cost, such examinations and investigations as it may
choose with respect to the Properties in order to determine whether
"Defects" exist. Unless waived, Buyer shall notify Seller in writing
of such Defects as soon as they are identified, but no later than ten
(10) days prior to the date upon which Closing is scheduled to occur
pursuant to Section 14. [and not as extended pursuant to 14.(i) or
14.(ii)] (hereinafter "Defect Notice Date"). Those Defects identified
in such notice to Seller are herein called "Asserted Defects". Such
notification shall include a description of the Asserted Defect, the
lease(s) described on Exhibit A affected by such Asserted Defect, the
well(s) listed on Exhibit B to which the Asserted Defect relates, and
all supporting documentation reasonably necessary fully to describe in
detail the basis for the Asserted Defect; and, for each property,
lease and applicable well, the size of any variance from "Net Revenue
Interest (NRI)", "Overriding Royalty Interest (ORI)", or "Working
Interest (WI)" set forth in Exhibit B that does or could result from
such Asserted Defect. Buyer hereby waives all Defects that it fails
to identify to Seller as Asserted Defects on or before the Defect
Notice Date. If Buyer timely notifies Seller of Asserted Defects,
Seller (i) shall have the right (but not the obligation) to attempt to
cure such Asserted Defects prior to Closing, and (ii) shall also have
the right (which may be exercised at any time before the Closing Date)
to postpone the Closing by designating a new Closing Date not later
than thirty (30) days after the Closing Date then existing, if Seller
desires additional time to attempt to cure (including determining if
it will attempt to cure) one or more Asserted Defects. In lieu of
curing or attempting to cure an Asserted Defect, Seller may elect, at
any time prior to Closing with respect to any Asserted Defect, to
indemnify and hold Buyer harmless from and against any actual damages
or loss (but specifically excluding consequential damages, special
damages, or similar damages) Buyer may
7
suffer as a result of a third party claim based on such Asserted
Defect; provided, unless Buyer consents, Seller may not so elect to
indemnify Buyer in lieu of curing such Asserted Defect(s) if the
amount attributable to such Asserted Defect(s) exceeds One Million
Dollars($1,000,000.00). If Seller elects to indemnify Buyer as to an
Asserted Defect, such Asserted Defect will be treated under this
Agreement as cured and, as to such indemnified Asserted Defect,
SELLER SHALL RELEASE, INDEMNIFY, DEFEND, AND HOLD HARMLESS BUYER FROM
AND AGAINST ANY AND ALL LOSS, COST, DAMAGE, EXPENSE, OR LIABILITY
WHATSOEVER, INCLUDING ATTORNEYS' FEES, ARISING OUT OF THE ASSERTED
DEFECT SELLER HAS ELECTED TO INDEMNIFY (EXCEPT ANY CAUSED SOLELY BY
THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF BUYER).
(c) Buyer shall have the right to make an environmental assessment
of the Properties during the period beginning on the date of execution
of this Agreement and ending on the Defect Notice Date. Subject to
the provisions regarding Buyer's rights to access under Section 7
hereof, Buyer and its agents shall have the right to enter upon the
Properties and all buildings and improvements thereon, inspect the
same, conduct soil and water tests and borings, and generally conduct
such tests, examinations, investigations, and studies as Buyer may
deem necessary or appropriate for the preparation of appropriate
engineering and other reports in relation to the Properties and their
physical and environmental condition. If Buyer proposes to undertake
an environmental assessment, Buyer's proposed plan, the consultants to
be used, and testing protocol must be approved by Seller before the
work may begin. Buyer agrees promptly to provide to Seller a copy of
the environmental assessment, including any reports, data, and
conclusions. Buyer shall keep all data and information acquired by
such examinations and the results of all analyses of such data and
information strictly confidential and shall not disclose same to any
person or agency without the prior written approval of Seller. BUYER
SHALL RELEASE, INDEMNIFY, DEFEND, AND HOLD HARMLESS THE SELLER GROUP
FROM AND AGAINST ANY AND ALL LOSS, COST, DAMAGE, EXPENSE, OR LIABILITY
WHATSOEVER, INCLUDING ATTORNEYS' FEES, ARISING OUT OF ANY
ENVIRONMENTAL ASSESSMENT INCLUDING, BUT NOT LIMITED TO, INJURY TO OR
DEATH OF PERSONS OR DAMAGE TO PROPERTY OCCURRING IN, ON, OR ABOUT THE
PROPERTIES AS A RESULT OF SUCH ACTIVITIES (EXCEPT ANY SUCH INJURIES OR
DAMAGES CAUSED SOLELY BY THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF
ANY MEMBER OF THE SELLER GROUP).
(d) After the Defect Notice Date, Buyer shall be deemed to have
inspected the Properties or waived its right to inspect the Properties
for all purposes and satisfied itself as to their physical and
environmental condition, both surface and subsurface.
9. ADVERSE ENVIRONMENTAL CONDITIONS.
Seller represents to Buyer that to the best of its knowledge there are
no environmental conditions, as hereinafter defined, existing as of
the date hereof which Seller has not disclosed to Buyer. Seller will
advise Buyer of any Condition that Seller becomes aware of from the
date hereof to the Closing Date.
(a) Buyer shall have until the Defect Notice Date to notify Seller
of any material adverse environmental condition of the Properties
which Buyer deems unacceptable and provide evidence of the condition
to Seller. An environmental condition is a material adverse
environmental condition ("Condition") only if the following criteria
are met:
8
(i) The environmental condition would have been required to be
remediated on the Effective Date under the Environmental Laws;
and,
(ii) The total cost to remediate all environmental conditions
identified by Buyer affecting the Properties to the state
required by the Environmental Laws is reasonably estimated to
be at least $100,000.00.
(b) "Environmental Law" shall mean any federal, state, or local
law, rule, regulation, order, or ordinance in effect as of the
Effective Date of this Agreement pertaining to protecting the public
health, welfare, and the environment.
(c) At Closing, Seller may elect any of the following provided a
Condition exists:
(i) Decrease the Purchase Price by a mutually acceptable
amount reflecting Seller's proportionate share, based on its
working interest, of the cost reasonably estimated to remediate
a Condition affecting the Properties to such a state as
required by the Environmental Laws;
(ii) Remove the affected Properties from this Agreement and
adjust the Base Purchase Price by an amount mutually agreed to
by Seller and Buyer. If Buyer and Seller are unable to agree on
an amount, the value of Properties falling in Categories A and
B shall be determined as provided in Section 11.(a)(ii) using
the V/T = PVW/PVC equation and an appropriate adjustment will
be made using this value. The value of all affected Properties
falling in Category C shall be determined using the formula in
Section 11.(a)(iii) where F=Seller's net acres affected by the
Condition.
(iii) Remedy, or, if applicable, agree to indemnify, Buyer in
accordance with Section 8(b); the Condition, as provided below.
(d) If option (c)(i) above is chosen, Buyer shall be responsible
for any remediation and if the actual cost to remediate a Condition
exceeds the amount of the estimate, Buyer shall pay the additional
costs to remediate the Condition as required by applicable law.
(e) If option (c.) (iii). above is chosen, the following shall
govern the remediation:
(i) Seller shall be responsible for all negotiations and
contacts with federal, state, and local agencies and
authorities with regard to the Condition or remediation. Buyer
shall not make any independent contacts with any agency,
authority, or other third party with respect to the Condition
or remediation and will keep all information regarding the
Condition and remediation confidential, except in each instance
to the extent required by applicable law.
(ii) Seller shall remediate the Condition to the state agreed
upon by Seller and Buyer, but in no event will Seller be
required to remediate the Condition beyond the state required
by the Environmental Laws.
(iii) Buyer will grant and warrant access to the affected
Properties after Closing to Seller and third parties conducting
assessments or remediation, to the extent and as long as
necessary to conduct and complete the assessment or remediation
work, to remove equipment and facilities, and to perform any
other activities reasonably necessary in connection with
assessment or remediation.
(iv) Buyer will use its best efforts not to interfere with
Seller's ingress and egress or assessment or remediation
activities. Seller shall make reasonable
9
efforts to perform the work so as to minimize disruption to
Buyer's business activities and to the Properties.
(v) Seller shall continue remediation of the Condition until
the first of the following occurs:
(1) The appropriate governmental authorities provide
written notice to Seller or Buyer that no further
remediation of the Condition is required;
(2) The parties agree that the Condition has been
remediated to the state required by the Environmental
Laws or as agreed by the parties.
Upon the occurrence of either (1) or (2) above, Seller
shall notify Buyer that remediation of the Condition is
complete and provide a copy of the notification
described in (1) above, if applicable. Upon delivery of
Seller's notice, Seller shall be released from all
liability and have no further obligations under any
provisions of this Agreement in connection with a
Condition.
(vi) Until Seller completes remediation of a Condition, Seller
and Buyer will each notify the other of any pending or
threatened claim, action, or proceeding by any authority or
private party that relates to or would affect the environmental
condition, the assessment, or the remediation of the affected
Properties.
(vii) After Buyer takes over as operator, and before Seller
has completed remediation of a Condition, if a leak, spill, or
discharge of any material or substance ("Occurrence") occurs on
the affected Properties, or any part of them, Buyer will
promptly notify Seller and act promptly to minimize the effects
of the Occurrence. If a spill, leak, or discharge occurs and
Seller determines that it may affect the area where Seller is
conducting remediation or assessment, Buyer will hire a
consultant (who must be acceptable to Seller) to assess the
effect of the Occurrence on the environmental condition of the
affected Properties, and the cost of Seller's remediation work
and the cost of the additional work required as the result of
the Occurrence. Unless the Occurrence was caused solely by
Seller, Buyer will be responsible for the incremental cost of
remediating the impact of the Occurrence. If Seller's
remediation is expanded to incorporate remediation of the
Occurrence, Buyer will promptly pay its share of costs and
expenses to Seller as the work is performed, within thirty (30)
days of receipt of invoices for the work (with supporting
documentation). Payments not made timely will bear interest at
a rate of twelve percent (12%) per annum or the maximum lawful
rate, whichever is less, compounded daily from the date of
Buyer's receipt of the invoice until paid.
If the cost of the additional work equals or exceeds the cost
to complete the remediation which would have been incurred but
for the Occurrence, Seller will pay Buyer the cost that would
have been incurred by Seller to complete the remediation but
for the Occurrence. As consideration for this payment, Buyer
will accept the environmental condition of the affected
Properties as they exist on the date of the payment, assume
full responsibility for remediating the affected Properties and
related off-site contamination in accordance with this
Agreement, and agrees to release, not to sue, indemnify, hold
harmless, and defend Seller as to claims and liabilities
arising from the Occurrence to the same extent as described in
Sections 17., 18., and 20.
10
(viii) If Seller undertakes remediation as to any Properties
in which Seller's ownership was less than 100%, and provided
that the expense(s) incurred by Seller in such remediation are
fair and reasonable, Buyer will bill the other working interest
owners for their share of the remediation expenses. Regardless
of whether Buyer recoups any amount from the other working
interest owners, Buyer will refund to Seller, within sixty (60)
days of each Seller invoice, with documentation, any amounts
expended by Seller over the amount attributable to Seller's
former working interest share.
(ix) If Seller will assess or remediate the affected
Properties after Closing, the Assignment and Bill of Sale or
other recordable instrument will restate the rights and
obligations of this section.
10. DISPOSAL OF MATERIALS, SUBSTANCES, AND WASTES; COMPLIANCE WITH LAW.
Buyer will store, handle, transport, and dispose of or discharge all
materials, substances, and wastes from the Properties (including produced
water, drilling fluids, NORM, and other wastes), whether present before or
after the Effective Date, in accordance with applicable local, state, and
federal laws and regulations. Buyer will keep records of the types, amounts,
and location of materials, substances, and wastes that are stored,
transported, handled, discharged, released, or disposed of onsite and
offsite. When any lease terminates, an interest in which has been assigned
under this Agreement, Buyer will undertake additional testing, assessment,
closure, reporting, or remedial action with respect to the Properties
affected by the termination as is necessary to satisfy all local, state, or
federal requirements in effect at that time and necessary to restore the
Properties. Buyer shall assume full responsibility for the operations
conducted pursuant to this Section 10. and agrees to release, not to sue,
indemnify, hold harmless, and defend Seller as to all claims and liabilities
arising therefrom to the same extent as described in Sections 17., 18., and
20.
11. CERTAIN PRICE ADJUSTMENTS TO THE BASE PURCHASE PRICE.
(a) If Buyer presents Asserted Defects to Seller as a part of the
due diligence reviews provided for in Section 8. above, and if Seller
is unable or unwilling to cure such Asserted Defects prior to Closing,
or if Buyer has elected to treat a Property affected by a casualty
loss pursuant to Section 22. as if it were a Property affected by an
Asserted Defect, then an appropriate adjustment to the Base Purchase
Price to account for such Asserted Defects shall be made as follows:
(i) Buyer and Seller shall attempt to agree upon an
appropriate adjustment to the Base Purchase Price to account
for an Asserted Defect which Seller either is unable or
unwilling to cure prior to Closing, and those Properties, or
any part thereof, associated with the Asserted Defect shall be
excluded from this Agreement and any rights of Buyer hereunder
to such Properties shall terminate.
(ii) If Buyer and Seller are unable to agree upon an
appropriate adjustment with respect to an Asserted Defect which
affects Seller's interest in any Property falling in either
Category A or B as shown on Exhibit E, adjustments shall be
made as follows:
Determine the value of all wells contained in the Unit in which
the Property affected by the Asserted Defect falls by using the
following equation and solve for V. "Unit" as used herein shall
mean a drilling and spacing unit as determined by order or rule
of the Wyoming Oil & Gas Conservation Commission or as
otherwise permitted by law, or the Participating Area affected
by the Asserted Defect.
V/T = PVW/PVC
11
T = Total amount ($) allocated to category containing
Unit as shown on Exhibit E.
PVW = BFIT PV @ 10% (Future net income before income
taxes discounted at ten percent (10%)) of total proved reserves
in all wells in Unit as contained in the Ryder-Scott Report.
PVC = BFIT PV @ 10% (Future net income before income
taxes discounted at ten percent (10%)) of total proved reserves
in all wells in Category as contained in the Ryder-Scott
Report.
The Base Purchase Price shall be adjusted by the absolute value
of an amount using the following formula:
Adjustment = V X (1-[B/C])
V = Value of wells as determined above.
B = Correct net revenue interest for all wells in Unit
including any overriding royalty interest.
C = Net revenue interest, including any overriding
royalty interest, as shown on Exhibit B in all wells in Unit.
(iii) If an Asserted Defect affects Seller's interest in any
Property falling in Category C and Buyer and Seller cannot
mutually agree on an appropriate adjustment to the Base
Purchase Price, adjustments shall be made using the following
formula:
Adjustment = T X F/25,000
T = Total amount ($) allocated to Category C as shown on
Exhibit E.
F = Seller's net acres affected by uncured Asserted
Defect.
(b) If it is determined that Seller's interest in a well listed on
Exhibit B is greater or lesser than the interest shown for such well
under the columns headed "Net Revenue Interest (NRI)" and "Overriding
Royalty Interest (ORI)" on Exhibit B, then Seller or Buyer may propose
an increase or decrease, as applicable, in the Base Purchase Price, in
which case such increase or decrease shall be handled in the same
manner as provided above with respect to adjustments for Asserted
Defects; provided that the party making such determination shall
notify the other party of such adjustment on or before the Defect
Notice Date. Buyer shall have an affirmative obligation to disclose
to Seller circumstances discovered by Buyer in its due diligence
review that could result in an increase in the Base Purchase Price
hereunder. No increase in the Base Purchase Price will result from
any royalty reduction resulting under the Federal Royalty Reduction
Program.
(c) Notwithstanding the adjustments to be made pursuant to
subsections 11.(a) and 11.(b) above, if such adjustments do not exceed
$250,000 in the aggregate, no such adjustments shall be made and none
of the Properties that would otherwise have been excluded pursuant to
subsection 11.(a) above shall be excluded. If the adjustments to be
made pursuant to subsections 11.(a) and 11.(b) above, do exceed
$250,000.00, the Base Purchase Price shall be adjusted according
thereto.
12. CONDITIONS PRECEDENT TO BUYER'S OBLIGATIONS. Buyer's obligations
at Closing under this Agreement are subject to each of the following
conditions:
12
(a) Seller's representations under this Agreement shall be true and
accurate in all material respects as of the date when made and at
Closing, except as to changes specifically contemplated by this
Agreement or consented to by Buyer in writing.
(b) Seller shall have performed and complied in all material
respects with every covenant, agreement, and condition required by it
under this Agreement prior to or at the Closing unless performance or
compliance therewith shall have been waived by Buyer in writing.
(c) If applicable, Buyer and Seller shall have received approval
from the FTC under the HSR Act of the transaction contemplated by this
Agreement, or shall have received notification that the waiting period
under such act has been terminated, or the waiting period under such
act shall have expired.
(d) The Base Purchase Price increase or decrease resulting from the
adjustments to be made pursuant to subsections 11.(a) and 11.(b) does
not exceed twenty percent (20%) of the Base Purchase Price.
(e) On the Closing Date, no material suit, action, or other
proceeding against Buyer shall be pending before any court or
governmental agency seeking to restrain, prohibit, or obtain damages
or other relief in connection with the consummation of the transaction
contemplated by this Agreement.
If any such condition precedent to the obligations of Buyer under this
Agreement is not met as of the Closing Date, and if Buyer is not in material
breach of its obligations hereunder, this Agreement may be terminated at the
option of Buyer. If Buyer thus terminates this Agreement, the Deposit shall
be returned to Buyer and the parties shall have no further obligations to one
another hereunder (other than the indemnifications contained in Sections
7.(a)(iii), 8.(c), and 21. hereof, which shall survive such termination).
Notwithstanding the foregoing, if a condition set forth above, other than
condition 12. (c) or 12.(d), is not met (and is asserted by Buyer as a
failure of one of its conditions of Closing), and if the reasons such
condition is not met relate only to some, but not all, of the Properties,
failure of such condition to be met may, at the option of either Buyer or
Seller, be treated as an uncured Asserted Defect and handled in accordance
with the process set forth in Section 11. above.
13. CONDITIONS PRECEDENT TO SELLER'S OBLIGATIONS. Seller's obligations
at Closing under this Agreement are subject to each of the following
conditions:
(a) Buyer's representations under this Agreement shall be true and
accurate in all material respects as of the date when made and at
Closing, except as to changes specifically contemplated by this
Agreement or consented to by Seller.
(b) Buyer shall have performed and complied in all material
respects with every covenant, agreement, and condition required by it
under this Agreement prior to or at the Closing unless compliance
therewith shall have been waived by Seller.
(c) If applicable, Buyer and Seller shall have received approval
from the FTC under the HSR Act of the transaction contemplated by this
Agreement, or shall have received notification that the waiting period
under such act has been terminated, or the waiting period under such
act shall have expired.
(d) The Base Purchase Price reduction or increase resulting from
the adjustments to be made pursuant to subsections 11.(a) and 11.(b)
does not exceed twenty percent (20%) of the Base Purchase Price.
(e) On the Closing Date, no material suit, action, or other
proceeding against Seller shall be pending before any court or
governmental agency seeking to restrain,
13
prohibit, or obtain damages or other relief in connection with the
consummation of the transaction contemplated by this Agreement.
If any such condition precedent to the obligations of Seller under this
Agreement is not met as of the Closing Date, this Agreement may be terminated
at the option of Seller. If Seller terminates this Agreement because of
Buyer's failure to fulfill condition 13.(a) or 13.(b), the Deposit shall not
be returned to Buyer. If Seller terminates this Agreement because of
conditions 13.(c), 13.(d), or 13.(e), and Buyer is not in material default
under this Agreement, the Deposit shall be returned to Buyer. Thereafter,
Seller and Buyer shall have no further obligations to one another hereunder
(other than the indemnifications contained in Section 7.(a)(iii), 8.(c), and
21. hereof, which shall survive such termination).
14. THE CLOSING. If the conditions referred to in Section 12. of this
Agreement (the "Conditions Precedent to Buyer's Obligations") and Section 13.
of this Agreement (the "Conditions Precedent to Sellers Obligations") have
been satisfied or waived, the consummation of the transaction contemplated
hereby ("Closing") shall take place in the offices of Seller, at 201 Main
Street, Fort Worth, Texas 76102, on May 14, 1998, at 10:00 a.m. Central
Standard Time, or at such other date and time (i) as the Buyer and Seller may
agree or, (ii) to which Seller may postpone the Closing pursuant to Section
8.(b) hereof (such date and time herein called the "Closing Date"). It is
provided however, that Seller shall not be permitted to extend the Closing
Date pursuant to Section 8(b) beyond July 14, 1998, unless Buyer consents.
At the Closing:
(a) Seller shall:
(i) Execute, acknowledge, and deliver to Buyer a conveyance
of the Properties (the "Assignment and Bill of Sale"), which
shall include a warranty of title as against claims arising by
through or under Seller, and not otherwise, and in the form
attached hereto as Exhibit C (with Exhibits A and B attached
thereto), effective as of seven o'clock a.m., (7:00 a.m.)
Mountain Standard Time on June 1, 1998, (herein called the
"Effective Date");
(ii) Execute (and, where required, acknowledge) and deliver
to Buyer forms of conveyance or assignment as required by the
applicable authorities for transfers of interests in state or
federal leases included in the Properties;
(iii) Execute and deliver to Buyer letters in lieu of transfer
orders (or similar documentation), in form acceptable to both
parties;
(iv) If Buyer requests, deliver to Buyer an affidavit or
other certification (as permitted by the Internal Revenue Code
of 1986, as amended) that Seller is not a "foreign person"
within the meaning of Section 1445 (or similar provisions) of
such code (i.e., Seller is not a non-resident alien, foreign
corporation, foreign partnership, foreign trust, or foreign
estate, as those terms are defined in such code and regulations
promulgated thereunder);
(v) With respect to Properties operated by Seller and to the
extent available, deliver to Buyer all requisite consents of
non-operators under any operating agreement naming Buyer as
successor operator; and copies of such requests for consent
which were sent but not obtained prior to Closing;
(vi) Deliver to Buyer resignations of operator and/or Changes
of Operator/Owner Forms properly executed on behalf of Seller
for all Seller-operated wells acquired by Buyer; and, any other
forms required by governmental authorities having jurisdiction
which must be initiated by Seller to change the operator from
Seller to Buyer as of the Effective Date; and,
14
(vii) Certificates in form and substance satisfactory to
Seller, effective as of the Closing Date and executed by
Seller's duly authorized officer, partner, or owner, as
appropriate, to the effect that (1) Seller has all requisite
corporate, partnership, or other power and authority to sell
the Properties on the terms of this Agreement and to perform
its other obligations under this Agreement and has fulfilled
all corporate, partnership, or other prerequisites to closing
this transaction, and (2) each individual executing the closing
documents has the authority to act on behalf of Seller.
(viii) Deliver possession of the Properties to Buyer as of the
Effective Date.
(b) Buyer shall:
(i) Deliver to Seller, by wire transfer to an account
designated by Seller in a bank located in the United States, an
amount payable in United States dollars equal to the amount as
set forth on the Closing Settlement Statement as provided for
in Section 16.(c) below;
(ii) Deliver to Seller, except to the extent waived by Seller:
(A) Evidence of compliance with the requirements of all laws,
rules, and regulations relating to the transfer of operatorship from
Seller to Buyer;
(B) Evidence of Buyer's bond coverage as required by all laws,
rules, and regulations, or that a cash deposit, certificate of
deposit, letter of credit, or some other permitted financial security
has been accepted by the proper regulatory agency for each well
requiring such coverage;
(C) Evidence of compliance with the requirements of all laws,
rules, and regulations that Buyer is qualified to succeed to Seller's
interest in the Properties; and,
(D) Certificates in form and substance satisfactory to Seller,
effective as of the Closing Date and executed by Buyer's duly
authorized officer, partner, or owner, as appropriate, to the effect
that (1) Buyer has all requisite corporate, partnership, or other
power and authority to purchase the Properties on the terms of this
Agreement and to perform its other obligations under this Agreement
and has fulfilled all corporate, partnership, or other prerequisites
to closing this transaction, and (2) each individual executing the
closing documents has the authority to act on behalf of Buyer.
(iii) Execute such forms and take such other steps as Seller may
reasonably require to (A) succeed Seller with respect to the
Properties under the rules and regulations of applicable authorities
and (B) assume any and all liabilities of Seller with respect to the
wells described on Exhibit B; and,
(iv) Take possession of the Properties.
15. AFTER CLOSING. Within thirty (30) days after Closing, Seller shall
make available for delivery to Buyer at Seller's offices all of Seller's
lease files, abstracts and title opinions, division order files, production
records, well files, copies of accounting records (but not including general
financial accounting or tax accounting records), and other similar files and
records that directly relate to the Properties. Notwithstanding the
foregoing, Seller shall not be required to deliver to Buyer materials that
Seller considers proprietary or confidential or that Seller legally cannot
provide to Buyer without breaching, or risking a breach of, confidentiality
agreements with other parties. It is expressly understood that Buyer is not
entitled to acquire any records except as expressly provided in Section 1.
hereof. Seller may retain such files, or copies thereof, or such information
as it deems necessary for all purposes, including but not limited to,
preparing a Final Settlement Statement as
15
provided in Section 16., or for purposes of filing tax returns covering the
Properties. Any files or materials retained by Seller after Closing pursuant
hereto, shall be sent to Buyer as soon as reasonably practicable after final
payment is made in accordance with the Final Settlement Statement. Seller
may, at its own expense, have access to and make copies of all, or any part
thereof, of the files and records provided Buyer hereunder at reasonable
times and upon reasonable notice during regular business hours for as long as
the Properties remain in effect.
As to those wells which Seller is disbursing proceeds of production, Seller
shall continue to collect proceeds of production as long as it remains
operator and shall be responsible for making disbursements, in accordance
with its normal procedures (and at normal times), of such proceeds of
production so collected to the parties entitled to same, with any proceeds of
production thereafter collected by Seller to be forwarded promptly to its
successor as operator.
Provided Buyer succeeds Seller as operator, Buyer shall become responsible
for all disbursements of proceeds of production and such disbursement
activities shall be included in the matters that Buyer assumes and with
respect to which Buyer indemnifies Seller under Section 17 below.
SELLER GIVES NO ASSURANCE HEREUNDER THAT BUYER SHALL SUCCEED SELLER AS
OPERATOR OF ANY PROPERTY WHERE PARTIES OTHER THAN SELLER OWN INTERESTS IN
SUCH PROPERTY. It is understood that in most (if not all) of the operating
agreements affecting the Properties, Seller does not have the right to
transfer operations of the leasehold interests subject thereto to Buyer.
However, Seller shall use its best efforts to secure consent from all
non-operators naming Buyer as Operator under such operating agreements prior
to Closing, to be effective on the Closing Date and provided Closing takes
place. After Closing, Buyer shall use its best efforts to comply with the
terms of any operating agreements to name a successor operator thereunder for
which Seller was unable to obtain prior to Closing. Upon obtaining consent
from non-operators naming Buyer as successor operator, Seller and Buyer
promptly shall file all forms required by any governmental agency having
authority, to change the operator from Seller to Buyer.
Seller shall operate the Seller-operated Properties until the Effective Date
and thereafter, if necessary, until such time as provided under the
applicable operating agreement, plan of unitization, or law requires. As
soon as practicable thereafter, operations shall be turned over to, and
become the responsibility of, Seller's successor as Operator To the extent
Seller so operates any Property after the Effective Date, its obligations to
Buyer with respect to such operations shall be no greater than those that it
would have to a non-operator under the applicable operating agreement. In
the absence of an operating agreement, those terms and provisions contained
in the AAPL 610 (1382 Revision) form Operating Agreement shall apply. THE
PARTIES RECOGNIZE THAT, UNDER SUCH AGREEMENTS AND SUCH FORM OF AGREEMENT, THE
OPERATOR IS NOT RESPONSIBLE TO THE OTHER PARTIES THERETO FOR ITS OWN
NEGLIGENCE AND HAS NO RESPONSIBILITY TO SUCH OTHER PARTIES OTHER THAN FOR
GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.
As to all wells acquired by Buyer hereunder which Seller continues to operate
on behalf of Buyer and for Buyer's account after the Effective Date because a
successor operator has not been approved by the requisite governmental
authority, or consent of non-operators has not been obtained, by mutual
agreement or otherwise, Seller will be paid the producing well overhead rates
shown in the operating agreement applicable to such wells and if there is no
such established rate, Buyer shall pay Seller for its proportionate share
thereof based upon the rate of five hundred dollars ($500.00) per month, or
any part thereof, for each well.
16. CERTAIN ACCOUNTING ADJUSTMENTS TO THE PURCHASE PRICE.
(a) Appropriate adjustments to the Purchase Price shall be made
between Buyer and Seller to reflect the following:
(i) All rights to proceeds, receipts, reimbursements, credits,
and income attributable to the Properties and accruing before
the Effective Time, as
16
defined below, shall be the property of Seller. All proceeds,
receipts, credits, income, and charges attributable to the
Properties acquired by Buyer hereunder and accruing on and
after the Effective Time shall be the property of Buyer. As
to Properties operated by Seller and purchased by Buyer
hereunder and concerning accounts held in suspense, Seller
will pay in full the royalty accounts that were suspended
because the amount due is less than the statutory or
contractual minimum for payment. As to all other suspended
accounts, if any, Seller shall transfer to its successor as
operator all monies held in a suspended account which were
received for production produced from or allocated to the
Properties on and after the Effective Time. As to proceeds
received for production produced from or allocated to the
Properties before the Effective Time and held in a suspense
account at Buyer's option, Seller may either: 1) Retain the
suspended amounts after Closing and, upon proof satisfactory to
Seller, release the money to the proper party; or, 2) Transfer
the suspended amounts to Buyer for future disbursement. Once
suspended amounts have been transferred to Buyer for future
disbursement, Buyer agrees to be responsible for disbursing the
suspended monies to the proper parties and shall release,
indemnify, defend, and hold harmless the Seller Group from any
and all claims, actions, causes of action, liabilities,
damages, losses, costs, or expenses (including, without
limitation, court costs and attorneys' fees), arising out of or
in any way connected with making such disbursements, or failure
to make a disbursement.
(ii) Seller shall be responsible for and pay (A) all charges
and invoices for costs and expenses (including, without
limitation, lease maintenance payments, drilling and operating
expenses, capital expenditures, and overhead charges) accruing
before the Effective Time and attributable to the Properties
and (B) necessary royalty disbursements of proceeds realized
from the sale of production produced from and allocated to the
Properties before the Effective Time. Buyer shall be
responsible for payment of (C) all charges and invoices for
costs and expenses (including, without limitation, lease
maintenance payments, drilling and operating expenses, capital
expenditures, and overhead charges) accruing on and after the
Effective Time and attributable to the Properties acquired
hereunder and (D) necessary royalty disbursements of proceeds
realized from the sale of production produced from and
allocated to the Properties acquired hereunder on and after the
Effective Time. All payments made by Seller for items under
(C) above for which Buyer is responsible shall be reimbursed by
Buyer. Seller shall reimburse Buyer for all monies received by
Seller from non-operators as payment of Seller's invoices for
the operations of the wells described on Exhibit B for periods
on and after the Effective Time.
(iii) Seller will be credited with an amount equal to the
simple interest accrued on the Adjusted Purchase Price for the
period beginning with the Closing Date and continuing through
the Effective Date at seven percent (7%) simple annual interest
calculated as follows:
INTEREST = Adjusted Purchase Price x number of days from
closing to Effective Date x 7% divided by 365;
The amount of interest credited to the Buyer will not exceed
$250,000.00 regardless of the above calculation, and further
such credit shall be only be applied if Closing occurs before
the Effective Date.
(b) In making such adjustments, the Parties agree that:
(i) Seller will cause such oil storage facilities which store
oil produced from the Properties to be gauged or strapped as of
7:00 a.m. Mountain Standard
17
Time on the Effective Date, herein also referred to as the
Effective Time. Seller also has caused the gas production
meter charts (or if such do not exist, the sales meter charts)
on the pipelines transporting gas production from the
Properties to be read as of the Effective Time. The results of
such gauging, strapping, or chart reading are conclusive and
shall be made available to Buyer. The production in such
storage facilities or through such meters on the gas pipelines
as of the Effective Time shall be owned by Seller; and,
thereafter, production placed in such oil storage facilities
and gas production passing through the aforesaid meters on the
pipelines shall be owned by Buyer, insofar as to the interests
subject hereto as of Closing.
(ii) All ad valorem, severance, production and similar taxes
applicable to the Properties shall be prorated between Seller
and Buyer as of the Effective Date. Therefore, all such taxes
for 1997 and prior years and for the portion of 1998 prior to
the Effective Date levied against the Properties shall be borne
and paid by Seller; and, all ad valorem and similar taxes for
the remainder of 1998 and thereafter levied against the
Properties shall be borne and paid by Buyer, irrespective if
the amount levied is based on the previous year's production or
any other basis.
(iii) Where Seller owns one-hundred percent (100%) of the
working interest under a well and there is no overhead charge
for determining the overhead expense to be charged to Buyer on
and after the Effective Date, the overhead charge shall be
deemed to be five hundred dollars ($500.00) per month, or any
part thereof, per well.
(iv) Each party shall be responsible for its own income taxes.
(c) With respect to matters that can be determined as of Closing,
Seller shall prepare, in accordance with the provisions of this
Agreement and with generally accepted accounting principles, a
statement (the "Closing Settlement Statement") setting forth each
adjustment to the Base Purchase Price to the best of Seller's
knowledge, whether upward or downward, as may be required in
accordance herewith. Seller shall submit to Buyer the Closing
Settlement Statement no later than five (5) days prior to the Closing
Date and shall afford Buyer access to Seller's records pertaining to
the computation of the Closing Settlement Statement. Prior to the
Closing, Buyer and Seller will agree upon the adjustments stated
therein to be made to the Purchase Price, or will specify the
adjustments to which there are differences and the adjustments to be
omitted therefrom. Only the agreed upon adjustments shall be taken
into account in computing the adjustments to be made to the Purchase
Price at Closing. Final adjustments to the Purchase Price to be made
hereunder shall be made within one hundred-twenty (120) days after the
Closing Date for all matters other than Asserted Defects according to
(d) hereinbelow as follows:
(d) As soon as practicable after the Closing, and in no event later
than sixty (60) days following the Closing Date, Seller shall deliver
to Buyer, in accordance with the provisions of this Agreement and with
generally accepted accounting principles, a statement ("Final
Settlement Statement") setting forth each adjustment under this
Agreement which was not determined as of the Closing. Within sixty
(60) days after Buyer's receiving the Final Settlement Statement, the
Parties shall agree upon the adjustments and payments stated in such
Final Settlement Statement, and the net of such adjustments and
payments shall be paid in cash to the appropriate Party by the other
Party within five (5) days following agreement as to the Final
Settlement Statement. If the Parties fail to reach agreement as to
all adjustment within said sixty (60) day period, the net amount of
all undisputed adjustments shall be paid and any remaining disputed
items shall be submitted for determination by a nationally
18
recognized firm of public accountants selected by the parties, whose
decision shall be final and binding. The parties shall share equally
the costs of such determination.
17. ASSUMPTION AND INDEMNIFICATION. UPON DELIVERY TO AND ACCEPTANCE BY
BUYER OF THE ASSIGNMENT AND BILL OF SALE, BUYER SHALL BE DEEMED TO HAVE
ASSUMED, TO PAY AND PERFORM TIMELY, ALL DUTIES, EXPENSES, OBLIGATIONS,
LOSSES, HAZARDS AND LIABILITIES RELATING TO THE OWNERSHIP OR OPERATION OF THE
PROPERTIES ARISING ON AND AFTER THE EFFECTIVE DATE (INCLUDING, WITHOUT
LIMITATION, THOSE ARISING UNDER OR BY VIRTUE OF ANY LEASE, CONTRACT,
AGREEMENTS, DOCUMENT, PERMIT OR RULE, OR DELAY IN OBTAINING APPROVAL OF
FEDERAL OR STATE ASSIGNMENTS); AND, TO RELEASE, INDEMNIFY, DEFEND, AND HOLD
HARMLESS THE SELLER GROUP FROM AND AGAINST ANY AND ALL CLAIMS, ACTIONS,
LIABILITIES, LOSSES, DAMAGES, COSTS, OR EXPENSES (INCLUDING COURT COSTS AND
ATTORNEYS' FEES) OF ANY KIND OR CHARACTER ARISING OUT OF OR OTHERWISE
RELATING TO THE OWNERSHIP OR OPERATION OF THE PROPERTIES ON AND AFTER THE
EFFECTIVE DATE. IN CONNECTION WITH (BUT NOT IN LIMITATION OF) THE FOREGOING,
IT IS SPECIFICALLY UNDERSTOOD AND AGREED THAT MATTERS ARISING OUT OF OR
OTHERWISE RELATING TO THE OWNERSHIP OR OPERATION OF THE PROPERTIES ON AND
AFTER THE EFFECTIVE DATE SHALL BE DEEMED TO INCLUDE ALL MATTERS ARISING OUT
OF THE STATUS AND THE CONDITION OF THE PROPERTIES ON THE EFFECTIVE DATE
INCLUDING, WITHOUT LIMITATION, ALL OBLIGATIONS TO PROPERLY PLUG AND ABANDON
WELLS LOCATED ON THE PROPERTIES, TO RESTORE THE SURFACE OF THE PROPERTIES TO
AS NEAR ITS ORIGINAL CONDITION AS PRACTICABLE AND TO COMPLY WITH, OR BRING
THE PROPERTIES INTO COMPLIANCE WITH, APPLICABLE ENVIRONMENTAL LAWS AND
REGULATIONS, INCLUDING ALL LIABILITY AND EXPENSE FOR ANY RESTORATION,
REMEDIATION, CLEAN-UP, DISPOSAL OF WASTE, OR REMOVAL THAT MAY BE INCURRED AS
A RESULT OF THE EXISTENCE OR DISCOVERY OF NATURALLY OCCURRING RADIOACTIVE
MATERIALS, OR OTHER HAZARDOUS OR DELETERIOUS SUBSTANCES IN, ON, UNDER OR
ASSOCIATED WITH THE PROPERTIES, REGARDLESS OF WHEN THE EVENTS OCCURRED THAT
GIVE RISE TO SUCH CONDITION, AND THE ABOVE PROVIDED FOR ASSUMPTIONS AND
INDEMNIFICATIONS BY BUYER SHALL EXPRESSLY COVER AND INCLUDE SUCH MATTERS. THE
FOREGOING ASSUMPTIONS AND INDEMNIFICATIONS SHALL APPLY WHETHER OR NOT SUCH
DUTIES, OBLIGATIONS, OR LIABILITIES, OR SUCH CLAIMS, ACTIONS, CAUSES OF
ACTION, LIABILITIES, DAMAGES, LOSSES, COSTS, OR EXPENSES ARISE OUT OF (i)
NEGLIGENCE (INCLUDING SOLE NEGLIGENCE, SIMPLE NEGLIGENCE, CONCURRENT
NEGLIGENCE, ACTIVE OR PASSIVE NEGLIGENCE, OR OTHERWISE, BUT EXPRESSLY NOT
INCLUDING GROSS NEGLIGENCE OR WILLFUL MISCONDUCT) OF SELLER GROUP OR ANY
OTHER INDEMNIFIED PARTY, OR (ii) STRICT LIABILITY.
18. ENVIRONMENTAL ASSESSMENT AND INDEMNIFICATION BY BUYER. BUYER
EXPRESSLY ACKNOWLEDGES THAT IT HAS MADE AN ENVIRONMENTAL ASSESSMENT OF THE
PROPERTIES, OR WILL BE GIVEN THE OPPORTUNITY TO DO SO SUBJECT TO THE TERMS OF
THIS AGREEMENT. BUYER HEREBY AGREES TO ASSUME THE RISKS THAT THE PROPERTIES
MAY CONTAIN WASTE MATERIALS OR HAZARDOUS SUBSTANCES, AND THAT ADVERSE
PHYSICAL CONDITIONS, INCLUDING BUT NOT LIMITED TO THE PRESENCE OF WASTE
MATERIALS OR HAZARDOUS SUBSTANCES OR THE PRESENCE OF UNKNOWN ABANDONED OIL
AND GAS WELLS, WATER WELLS, SUMPS AND PIPELINES, MAY EXIST IN, ON, OR UNDER
THE PROPERTIES AS OF THE EFFECTIVE DATE, ALL RESPONSIBILITY AND LIABILITY
RELATED TO ALL SUCH CONDITIONS, WHETHER KNOWN OR UNKNOWN, WILL BE TRANSFERRED
FROM SELLER TO BUYER. BUYER ASSUMES FULL RESPONSIBILITY FOR, AND AGREES TO
INDEMNIFY, HOLD HARMLESS AND DEFEND SELLER FROM AND AGAINST ALL
19
LOSS, LIABILITY, CLAIMS, FINES, EXPENSES, COSTS (INCLUDING ATTORNEYS' FEES
AND EXPENSES) AND CAUSES OF ACTION CAUSED BY OR ARISING OUT OF ANY FEDERAL,
STATE OR LOCAL LAWS, RULES, ORDERS AND REGULATIONS APPLICABLE TO ANY
NATURALLY OCCURRING RADIOACTIVE MATERIALS, WASTE MATERIAL OR HAZARDOUS
SUBSTANCES ON OR ASSOCIATED WITH THE PROPERTIES OR THE PRESENCE, DISPOSAL,
RELEASE OR THREATENED RELEASE OF ALL NATURALLY OCCURRING RADIOACTIVE
MATERIALS, WASTE MATERIAL OR HAZARDOUS SUBSTANCES FROM THE PROPERTIES INTO
THE ATMOSPHERE OR INTO OR UPON LAND OR ANY WATER COURSE OR BODY OF WATER,
INCLUDING GROUND WATER, WHETHER OR NOT ATTRIBUTABLE TO SELLER'S ACTIVITIES OR
THE ACTIVITIES OF THIRD PARTIES (REGARDLESS OF WHETHER OR NOT SELLER WAS OR
IS AWARE OF SUCH ACTIVITIES) PRIOR TO, DURING OR AFTER THE PERIOD OF SELLER'S
OWNERSHIP OF THE PROPERTIES. THIS INDEMNIFICATION AND ASSUMPTION SHALL ALSO
APPLY TO LIABILITY FOR VOLUNTARY ENVIRONMENTAL RESPONSE ACTIONS UNDERTAKEN
PURSUANT TO THE COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND
LIABILITY ACT (CERCLA) OR ANY OTHER FEDERAL, STATE OR LOCAL LAW.
19. DISCLAIMER OF WARRANTIES. THE PROPERTIES SHALL BE CONVEYED
PURSUANT HERETO WITHOUT ANY WARRANTY OR REPRESENTATION WHATSOEVER, WHETHER
EXPRESS, IMPLIED OR STATUTORY AS TO, DESCRIPTION, QUANTITY, QUALITY, FITNESS
FOR A PARTICULAR PURPOSE, CONFORMITY TO THE MODELS OR SAMPLES OF MATERIALS,
OR MERCHANTABILITY OF ANY EQUIPMENT OR ITS FITNESS FOR ANY PURPOSE, OR
OTHERWISE. BUYER SHALL HAVE INSPECTED, OR WAIVED (AND AS OF THE DEFECT NOTICE
DATE SHALL BE DEEMED TO HAVE WAIVED) ITS RIGHT TO INSPECT, THE PROPERTIES FOR
ALL PURPOSES AND SATISFIED ITSELF AS TO THEIR PHYSICAL AND ENVIRONMENTAL
CONDITION, BOTH SURFACE AND SUBSURFACE, INCLUDING, BUT NOT LIMITED TO,
CONDITIONS SPECIFICALLY RELATED TO THE PRESENCE, RELEASE, OR DISPOSAL OF
HAZARDOUS SUBSTANCES, SOLID WASTES, ASBESTOS, OR OTHER MANMADE FIBERS OR
NATURALLY OCCURRING RADIOACTIVE MATERIALS ("NORM") IN, ON, OR UNDER THE
PROPERTIES. BUYER IS RELYING SOLELY UPON ITS OWN INSPECTION OF THE
PROPERTIES, AND BUYER SHALL, EXCEPT AS PROVIDED OTHERWISE HEREIN, ACCEPT ALL
OF THE SAME "AS IS, WHERE IS". WITHOUT LIMITATION OF THE FOREGOING, SELLER
MAKES NO WARRANTY OR REPRESENTATION, EXPRESS, IMPLIED, STATUTORY, OR
OTHERWISE, AS TO THE ACCURACY OR COMPLETENESS OF ANY DATA, REPORTS, RECORDS,
PROJECTIONS, INFORMATION, OR MATERIALS NOW, HERETOFORE, OR HEREAFTER
FURNISHED OR MADE AVAILABLE TO BUYER IN CONNECTION WITH THIS AGREEMENT,
INCLUDING, WITHOUT LIMITATION, PRICING ASSUMPTIONS OR QUALITY OR QUANTITY OF
HYDROCARBON RESERVES (IF ANY) ATTRIBUTABLE TO THE PROPERTIES OR THE ABILITY
OR POTENTIAL OF THE PROPERTIES TO PRODUCE HYDROCARBONS OR THE ENVIRONMENTAL
CONDITION OF THE PROPERTIES OR ANY OTHER MATTERS CONTAINED IN THE
PROPRIETARY DATA OR ANY OTHER MATERIALS FURNISHED OR MADE AVAILABLE TO BUYER
BY SELLER OR BY SELLER'S AGENTS OR REPRESENTATIVES. ANY AND ALL SUCH DATA,
RECORDS, REPORTS, PROJECTIONS, INFORMATION, AND OTHER MATERIALS (WRITTEN OR
ORAL) FURNISHED BY SELLER OR OTHERWISE MADE AVAILABLE OR DISCLOSED TO BUYER
ARE PROVIDED TO BUYER AS A CONVENIENCE AND SHALL NOT CREATE NOR GIVE RISE TO
ANY LIABILITY OF OR AGAINST SELLER, AND ANY RELIANCE ON OR USE OF THE SAME
SHALL BE AT BUYER'S SOLE RISK TO THE MAXIMUM EXTENT PERMITTED BY LAW.
20. BUYER'S COVENANT NOT TO SUE SELLER GROUP. Except to enforce the
provisions of this Agreement or the responsibilities and liabilities of
Seller for claims, costs and expenses with respect
20
to the Properties prior to the Effective Date according to Section 17., Buyer
covenants not to sue Seller Group with regard to any claim or liability
relating to the Properties, or this transaction, regardless of when or how
the claim or liability arose or arises or whether the claim or liability was
foreseeable or unforeseeable. BUYER'S COVENANT NOT TO SUE SELLER GROUP
INCLUDES CLAIMS AND LIABILITIES RESULTING IN ANY WAY FROM THE NEGLIGENCE OR
STRICT LIABILITY OF SELLER GROUP, WHETHER THE NEGLIGENCE OR STRICT LIABILITY
IS ACTIVE, PASSIVE, JOINT, CONCURRENT OR SOLE.
21. COMMISSIONS. Seller agrees to indemnify and hold harmless Buyer,
its parent and subsidiary companies and other affiliates, and their
directors, officers, employees, and agents from and against any and all
claims, obligations, actions, liabilities, losses, damages, costs, or
expenses (including court costs and attorneys' fees) of any kind or character
arising out of or resulting from any agreement, arrangement, or understanding
by, or on behalf of, Seller with any broker or finder in connection with this
Agreement or the transaction contemplated hereby. Buyer agrees to indemnify
and hold harmless Seller Group from and against any and all claims,
obligations, actions, liabilities, losses, damages, costs, or expenses
(including court costs and attorneys' fees) of any kind or character arising
out of or resulting from any agreement, arrangement, or understanding by, or
on behalf of, Buyer with any broker or finder in connection with this
Agreement or the transaction contemplated hereby.
22. CASUALTY LOSS. If the Properties are damaged by fire or other
casualty prior to the Closing, this Agreement shall remain in full force and
effect, and (unless Buyer and Seller shall otherwise agree) in such event as
to each such damaged Property that Seller, in its sole discretion, elects not
to repair, Buyer either may treat such Property as if it had an Asserted
Defect or elect not to adjust the Purchase Price therefor. If Buyer elects
hereunder to treat the damaged Property as if it had an Asserted Defect, the
procedure provided for in Section 11. shall apply to such Property, and all
rights to insurance proceeds and claims against third parties related thereto
shall belong to Seller. If Buyer elects hereunder not to adjust the Purchase
Price for such damaged Property, and if Seller is entitled to any claims
under an insurance policy with respect to such damage, Seller shall either
collect and pay over, or assign, such insurance claims to Buyer. Buyer shall
then take title to such Property without reduction of the Purchase Price. If
Seller elects to repair a damaged Property, all rights to insurance proceeds
and claims against third parties related thereto shall belong to Seller.
23. NOTICES. All notices and other communications required or
permitted under this Agreement shall be in writing, unless otherwise
specifically provided herein, and shall be delivered by recognized commercial
courier or delivery service (which provides a receipt), by facsimile (with
receipt acknowledged), or by registered or certified mail (postage prepaid),
at the following addresses:
If to Buyer: Continental Resources, Inc.
P. O. Box 1032
Enid, Oklahoma 73702
Attn: Land Manager
Fax No. (405) 548-5182
If to Seller: Bass Enterprises Production Co.
210 Main Street
Fort Worth, Texas 76102
Attn: W. Frank McCreight
Fax No. (817) 390-8893
All such notices and communications shall be considered delivered on the date
of receipt. Buyer or Seller may specify as its proper address any other
address within the continental United States by giving notice to the other
party, in the manner provided in this Section.
24. SURVIVAL OF PROVISIONS. All representations, warranties, and
indemnifications made herein, except as to any warranty of title by Seller,
shall survive the Closing and the delivery of the
21
Assignment and Bill of Sale. All obligations hereunder not satisfied at
Closing shall survive Closing and delivery of the Assignment and Bill of Sale
to the extent the Parties intend for such obligations to be satisfied after
Closing. Buyer shall have until the Defect Notice Date in which to satisfy
itself as! to the quantity and quality of Seller's title to the Properties.
25. MISCELLANEOUS MATTERS.
(a) FURTHER ASSURANCES. After the Closing, Seller and Buyer shall
execute and deliver, and shall otherwise cause to be executed and
delivered, from time to time, such further instruments, notices,
division orders, transfer orders, and other documents, and do such
other and further acts and things as may be reasonably necessary more
fully and effectively to grant, convey, and assign the Properties to
Buyer.
(b) ASSIGNABILITY. Except as provided below, neither party shall
have the right to assign its rights under this Agreement without the
prior written consent of the other party, and any such assignment in
violation of this provision shall be void.
(c) GAS BALANCES. Seller represents that there are no gas
imbalances or make-up obligations affecting or relating to any of the
properties.
(d) WAIVER AND REPRESENTATION: TO THE EXTENT APPLICABLE TO THE
TRANSACTION CONTEMPLATED HEREBY, OR ANY PORTION THEREOF, BUYER WAIVES
THE PROVISIONS OF THE TEXAS DECEPTIVE TRADE PRACTICES ACT, CHAPTER 17,
SUBCHAPTER E, SECTIONS 17.41 THROUGH 17.63, INCLUSIVE (OTHER THAN
SECTION 17.555 WHICH IS NOT WAIVED), TEXAS BUSINESS AND COMMERCE CODE.
In connection with such waiver, Buyer hereby represents and warrants
to Seller that Buyer (a) is in the business of seeking or acquiring by
purchase or lease, goods or services for commercial or business use,
(b) has assets of Twenty Five Million Dollars ($25,000,000.00) or more
according to its most recent financial statement, (c) has knowledge
and experience in financial and business matters that enable it to
evaluate the merits and risks of the transaction contemplated hereby,
and (d) is not in a significantly disparate bargaining position.
(e) CONFIDENTIALITY AGREEMENT. Until Closing, any Confidentiality
Agreement executed by Buyer and Seller in connection with the
transaction contemplated hereby remains in full force and effect and
is not superseded or modified by this Agreement.
(f) PRIOR ENTIRE UNDERSTANDING/HEADINGS/GENDER. This Agreement
contains the entire understanding of the parties hereto with respect
to the subject matter hereof and supersedes all prior agreements,
understandings, negotiations, and discussions among the parties with
respect to such subject matter, except as provided above with respect
to any Confidentiality Agreement. The headings contained in this
Agreement are for convenience only and shall not control or affect the
meaning or construction of any provision of this Agreement. Within
this Agreement, words of any gender shall be held and construed to
cover any other gender, and words in the singular shall be held and
construed to cover the plural, unless the context otherwise requires.
Time is of the essence in this Agreement.
(g) AMENDMENTS. This Agreement may be amended, modified,
supplemented, restated, or discharged (and provisions hereof may be
waived) only by an instrument executed by both Parties.
(h) ASSOCIATED EXPENSES. Each party shall bear and pay all
expenses it incurred and that are associated with the transaction
contemplated by this Agreement. Payment of recording fees, filing
fees, documentary stamp taxes, all sales taxes (if any, plus penalty
and interest) and any other fees and taxes imposed on the Properties
22
on and after the Effective Date, excluding Seller's income taxes,
shall be paid by Buyer.
(i) SUCCESSORS AND ASSIGNS. This Agreement shall be binding on the
parties hereto and their respective heirs, successors,
representatives, and assigns.
(j) COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of
which shall constitute one (1) and the same instrument. It shall not
be necessary for both parties to sign the same counterpart.
(k) ENFORCEABILITY. WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW, THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH
AND GOVERNED BY THE LAWS OF THE STATE OF TEXAS APPLICABLE TO CONTRACTS
MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE AND BY THE LAWS OF
THE UNITED STATES OF AMERICA, EXCEPT THAT, TO THE EXTENT THE LAW OF A
STATE IN WHICH THE PROPERTIES ARE LOCATED NECESSARILY GOVERNS, THE LAW
OF SUCH STATE SHALL, TO SUCH EXTENT, APPLY TO THE PROPERTIES.
(l) PUBLICITY. Prior to Closing, Buyer shall not issue any
publicity or press release concerning this Agreement or the
transaction contemplated hereby without the prior written consent of
Seller unless, in the written opinion of legal counsel acceptable to
Seller, such disclosure is required by applicable law or other
applicable rules or regulations of any governmental authority or stock
exchange and such publicity or press release contains no more than the
minimum information necessary to comply therewith.
(m) USE OF SELLER'S NAME. Buyer agrees that, as soon as
practicable after the Closing, it shall remove or cause to be removed
the names and signs used by Seller, and all variations and derivatives
thereof and logos relating thereto from the Properties and shall not
thereafter make any use whatsoever of such names, signs, and logos.
After Closing and as to those Properties Buyer has taken over as
operator, Seller reserves the right of access to confirm that Buyer
has removed Seller's name, signs, and logos. If Seller is forced to
remove its name, signs, and logos because Buyer has failed to do so,
Seller shall charge its costs to Buyer and Buyer shall pay Seller's
invoice within fifteen (15) days of receipt.
(n) SEVERABILITY. If any term or provision of this Agreement is
determined to be invalid, illegal, or incapable of being enforced by
any rule of law or public policy, all other conditions and provisions
of this Agreement shall nevertheless remain in full force and effect
so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any material fashion to either
Buyer or Seller. Upon such determination that any term or other
provision is invalid, illegal, or incapable of being enforced, Buyer
and Seller shall negotiate in good faith to modify this Agreement so
as to effect the original intent of the Parties as closely as possible
in an acceptable manner to the end that the transactions contemplated
hereby are fulfilled to the extent possible.
(o) RESERVATION OF CLAIMS. Seller reserves all rights to claims,
demands, cause of action, and lawsuits concerning the Properties
against third parties that accrued before the Effective Date, whether
discovered before or after the Effective Date, excluding any rights or
claims associated with gas imbalances.
(p) DUTY TO DEFEND. Where a party ("indemnitor") has agreed to
indemnify, defend, and hold the other party ("indemnitee") harmless
under this Agreement the indemnitee, at its sole option if it is the
sole defendant, may elect to (a) manage its
23
own defense, in which event the indemnitor will reimburse the
indemnitee for all attorney's fees, court, and other costs reasonably
incurred in defending a claim, upon delivery to the indemnitor of
invoices for such expenses; or (b) allow the indemnitor to be
responsible for all aspects of defense. If both parties are
defendants in a claim, they shall reasonably endeavor to arrange for
joint defense to minimize defense costs, but failure to reach such
agreement shall in no event eliminate or limit any indemnity
obligations hereunder.
(q) EXHIBITS. All exhibits referenced herein and attached hereto
are by reference incorporated into this Agreement.
IN WITNESS WHEREOF, this Agreement is executed by the parties hereto on
the date set forth above, but effective as of the Effective Date.
SELLERS
BASS ENTERPRISES PRODUCTION CO.
By: /s/ W. FRANK MCCREIGHT
------------------------------------------
W. Frank McCreight
Vice President
PERRY R. BASS, INC.,
SID R. BASS, INC.,
LEE M. BASS, INC.,
KEYSTONE, INC.,
THRU LINE INC.
By: /s/ W. FRANK MCCREIGHT
------------------------------------------
W. Frank McCreight
Vice President of all named corporations
GOLIAD PARTNERS, L.P.
By its Managing Partners
PRB-GP, Inc.
LMB-GP, Inc.
WPH-GP, Inc.
By: /s/ W. FRANK MCCREIGHT
------------------------------------------
W. Frank McCreight
Vice President of all named corporations
THE BASS MANAGEMENT TRUST
By: /s/ PERRY R. BASS
------------------------------------------
Perry R. Bass, Trustee
SID R. BASS, MANAGEMENT TRUST
By: /s/ SID R. BASS
------------------------------------------
Sid R. Bass, Trustee
24
By: /s/ LEE M. BASS
------------------------------------------
Lee M. Bass
D W GENPAR, INC.
By: /s/ W. FRANK MCCREIGHT
------------------------------------------
W. Frank McCreight
Vice President
W D. PARTNERS, L. P.
By DW Genpar, Inc., General Partner
By: /s/ W. FRANK MCCREIGHT
------------------------------------------
W. Frank McCreight
Vice President
WPH-GP, INC.
By: /s/ W. FRANK MCCREIGHT
------------------------------------------
W. Frank McCreight
Vice President
WORLAND ASSOCIATES, Texas General Partnership
By: Sid R. Bass, Inc. Managing Partner
By: /s/ W. FRANK MCCREIGHT
------------------------------------------
W. Frank McCreight
Vice President
WORLAND ASSOCIATES II
By: Sid R. Bass, Inc. Managing Partner
By: /s/ W. FRANK MCCREIGHT
------------------------------------------
W. Frank McCreight
Vice President
BUYER
CONTINENTAL RESOURCES, INC.
By:/s/ HAROLD HAMM
------------------------------------------
Harold Hamm
President
25
EXHIBIT "A"
Attached to and made a part of that certain Assignment and Bill of Sale
dated July 15th, 1998 by and between Continental Resources, Inc., Assignor, and
Harold G. Hamm, as Trustee of the Harold G. Hamm Revocable Intervivos Trust
dated April 23, 1984
BIG HORN COUNTY, WYOMING:
Assignment and Bill of Sale dated effective June 1, 1998 by and between BASS
ENTERPRISES PRODUCTION CO., et al, ASSIGNORS, and CONTINENTAL RESOURCES,
INC., Assignee, recorded in Book MF42, Page 914-926, Big Horn County, Wyoming.
WASHAKIE COUNTY, WYOMING:
Assignment and Bill of Sale dated effective June 1, 1998 by and between BASS
ENTERPRISES PRODUCTION CO., et al, ASSIGNORS, and CONTINENTAL RESOURCES,
INC., Assignee, recorded in Book 77, Page 1227-1396, Washakie County, Wyoming.
HOT SPRINGS COUNTY, WYOMING:
Assignment and Bill of Sale dated effective June 1, 1998 by and between BASS
ENTERPRISES PRODUCTION CO., et al, ASSIGNORS, and CONTINENTAL RESOURCES,
INC., Assignee, recorded in Book 77, Page 138-147, Hot Springs County,
Wyoming.
EXHIBIT B
ASSIGNMENT AND BILL OF SALE
WASHAKIE COUNTY: WYO. NO. 466643
RECORDED MICRO BOOK 77 PAGE 1227-1396
DATE May 19, 1998 8:00 a.m. O'CLOCK
STATE OF WYOMING )
) KNOW ALL MEN BY THESE PRESENTS, THAT
COUNTIES OF BIG HORN )
HOT SPRINGS, AND )
WASHAKIE )
THIS ASSIGNMENT AND BILL OF SALE ("Assignment") is made effective as of
7:00 a.m., Mountain Standard Time on June 1, 1998 (the "Effective Time") by and
between the undersigned parties under "ASSIGNORS" (hereinafter collectively
referred to as "Assignor"), all having an address of 201 Main Street, Fort
Worth, Texas 76102; and Continental Resources, Inc. (hereinafter referred to as
"Assignee"), whose address is P.O. Box 1032, Enid, Oklahoma 73702.
Assignor, for Ten Dollars ($10.00) and other good and valuable
consideration in hand by Assignee, the receipt and sufficiency of which is
hereby acknowledged, by these PRESENTS DOES hereby GRANT, BARGAIN, SELL, CONVEY,
ASSIGN, TRANSFER, SET OVER, AND DELIVER unto Assignee, the following described
properties:
A. All rights, titles, and interests of Assignor in an to: 1) the oil,
gas, and mineral leases described in Exhibit A hereto (including
landowner's royalty and any ratifications and amendments to such leases,
whether such ratifications and amendments are described in Exhibit A); and
2) the wells described in Exhibit B hereto;
B. All rights, titles, and interests of Assignor in and to, or otherwise
derived from, all presently existing and valid oil, gas, and mineral
unitization, pooling, and communitization agreements, declarations, and
orders (including, without limitation, all units formed under orders,
rules, regulations, or other official acts of any federal, state, or other
authority having jurisdiction, and voluntary unitization agreements,
designations, and declarations) relating to the properties described in
Paragraph A. to the extent such rights, titles, and interests are
attributable to the properties described in Paragraph A.;
C. All rights, titles, and interests of Assignor in and to all presently
existing and valid production sales contracts, operating agreements, and
other agreements and contracts that relate to any of the properties
described in Paragraphs A. and B., to the extent such rights, titles, and
interests are assignable and attributable to the properties described in
Paragraphs A. and B.;
D. All rights, titles, and interests of Assignor in and to all
rights-of-way, easements. surface leases, permits, and licenses appurtenant
to the properties described in Paragraphs A. and B.; and,
E. All rights, titles, and interests of Assignor in and to all materials,
supplies, machinery. equipment, improvements, and other personal property
and fixtures (including, but not limited to, wellhead equipment, pumping
units, flowlines, tanks, buildings, injection facilities. saltwater
disposal facilities, compression facilities, gathering systems, and other
equipment) located on the properties described in Paragraphs A. and B. and
used in connection with the exploration, development, operation, or
maintenance thereof. The rights, titles, and interests of Assignor
described above in Paragraphs A., B., C., D., and E. and conveyed to
Assignee hereby are herein sometimes collectively called the "Purchased
Properties".
TO HAVE AND TO HOLD unto Assignee, its successors and assigns, forever the
Purchased Properties subject to the following terms and conditions:
1. PURCHASE AND SALE AGREEMENT: This Assignment is made subject to that
certain Purchase and Sale Agreement dated March 28, 1998, by and between
Assignor and Assignee affecting the sale of the Purchased Properties.
2. ASSUMPTION AND INDEMNIFICATION: Assignee, by acceptance of this
Assignment, hereby covenants and agrees to assume, to pay and perform
timely, all duties. expenses, obligations, losses, hazards, and liabilities
relating to the ownership or operation of the Purchased Properties arising
on and after the Effective Time (including, without limitation, those
arising under or by virtue of any lease, contract, agreements, document,
permit or rule, or delay in obtaining approval of federal or state
assignments); and, to release, indemnify, defend, and hold harmless
Assignor from and against any and all claims, actions, liabilities, losses,
damages, costs, or expenses (including court costs and attorneys' fees) of
any kind or character arising out of or otherwise relating to the ownership
or operation of the Purchased Properties on and after the Effective Time.
In connection with (but not in limitation of) the foregoing, it is
specifically understood and agreed that matters arising out of or otherwise
relating to the ownership or operation of the Purchased Properties on and
after the Effective Time shall be deemed to include all matters arising out
of the status and the condition of the Purchased Properties on the
Effective Time including, without limitation, all obligations to properly
plug and abandon wells located on the Purchased Properties, to restore the
surface of the Purchased Properties to as near its original condition as
practicable and to comply with, or bring the Purchased Properties into
compliance with applicable environmental laws and regulations, including
all liability and expense for any restoration, remediation, clean-up,
disposal of waste, or removal that may be incurred as a result of the
existence or discovery of naturally occurring radioactive materials, or
other hazardous or deleterious substances in, on, under, or associated with
the Purchased Properties, regardless of when the events occurred that give
rise to such condition, and the above provided for assumptions and
indemnifications by Assignee shall expressly cover and include such
matters. The foregoing assumptions and indemnifications shall apply whether
or not such duties, obligations, or liabilities, or such claims, actions,
causes of action, liabilities~ damages, losses, costs, or expenses arise
out of (i) negligence (including sole negligence, simple negligence,
concurrent negligence, active or passive negligence, or otherwise, but
expressly not including gross negligence or willful misconduct) of
Assignor, or (ii) strict liability.
3. ENVIRONMENTAL ASSESSMENT AND INDEMNIFICATION BY ASSIGNEE: Assignee
hereby acknowledges that it has made an environmental assessment of the
Purchased Properties, or has been afforded the opportunity to do so, and
satisfied itself as to the physical and environmental condition of the
Purchased Properties, both surface and subsurface. Assignee hereby assumes
the risks that the Purchased Properties may contain waste materials or
hazardous substances, and that adverse physical conditions, including, but
not limited to, the presence of waste materials or hazardous substances or
the presence of unknown abandoned oil and gas wells, water wells, sumps and
pipelines, may exist in, on, or under the properties as of the Effective
Time, all responsibility and liability related to all such conditions,
whether known or unknown, are hereby transferred from Assignor to Assignee.
Assignee assumes full responsibility for, and agrees to indemnify, hold
harmless, and defend Assignor from and against all loss, liability, claims,
fines, expenses, costs (including
2
attorneys' fees and expenses), and causes of action caused by or arising
out of any federal, state, or local laws, rules, orders, and regulations
applicable to any naturally occurring radioactive materials, waste
material, or hazardous substances on or associated with the Purchased
Properties or the presence, disposal, release or threatened release of
all naturally occurring radioactive materials, waste material, or
hazardous substances from the Purchased Properties into the atmosphere
or into or upon land or any water course or body of water, including
ground water, whether attributable to Assignor's activities or the
activities of third parties (regardless of whether Assignor was or is
aware of such activities prior to, during, or after the period of
Assignor's ownership of the Purchased Properties. This indemnification
and assumption shall also apply to liability or voluntary environmental
response actions undertaken pursuant to the Comprehensive Environmental
Response Compensation and Liability Act (CERCLA) or any other federal,
state or local law.
4. DISCLAIMER OF WARRANTIES: Assignee acknowledges that it has relied
solely on its own independent investigation of the Purchased Properties,
both surface and subsurface, in making its decision to acquire the
Purchased Properties; and, that Assignor has made no representations or
warranties as to the accuracy or completeness of any information which may
have been provided Assignee by Assignor. Assignee accepts all personal
property and fixtures associated with the Purchased Properties "AS IS" and
"WHERE IS" and Assignor hereby expressly disclaims, negates, and makes this
Assignment with NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, AT
COMMON LAW, BY STATURE, OR OTHERWISE, RELATING TO THE PURCHASED PROPERTIES
AS TO DESCRIPTION, QUANTITY, QUALITY, CONDITION, FITNESS FOR A PARTICULAR
PURPOSE, CONFORMITY TO MODELS, OR SAMPLES OF MATERIALS, OR MERCHANTABILITY,
OR OTHERWISE.
5. FEDERAL AND STATE ASSIGNMENTS: Separate state and federal assignments
of the Purchased Properties will be prepared by Assignor into Assignee
using the approved forms of the appropriate governmental agency. Such
assignments shall be deemed to contain all of the rights, titles,
interests, assumptions, indemnifications, disclaimers, and lack of
warranties as set forth herein, as though fully set forth in such
assignments, but no more. The interests conveyed by such separate
assignments are the same and. not in addition to, the interests conveyed
hereunder.
6. WARRANTY OF TITLE: This Assignment is made without warranty of title
of any kind, express or implied, except that Assignor agrees to defend
title against claims and demands of all persons claiming the same by,
through or under Assignor, but not otherwise.
This Assignment may be signed in any number of counterparts, each of which
shall be deemed to be an original, but all such counterparts shall constitute
but one and the same Assignment.
All of the terms and provisions of this Assignment shall be binding upon
and inure to the benefit of Assignee and Assignor and their respective heirs,
successors, representatives, and assigns.
All exhibits referenced herein and attached hereto are by reference
incorporated into this Assignment.
IN WITNESS WHEREOF, this Assignment was executed on the dates contained in
the acknowledgments herein, but to be effective as of the Effective Time as
stated in the first paragraph hereof.
3
ASSIGNORS
CORPORATE SEAL OF BASS ENTERPRISES PRODUCTION CO.
BASS ENTERPRISES PRODUCTION CO.
ATTEST:
By: /s/ DORSEY D. CROUSE By: /s/ W. FRANK McCREIGHT
------------------------------- -----------------------------------
Dorsey D. Crouse, Assistant W. Frank McCreight, Vice President
Secretary
CORPORATE SEALS OF
PERRY R. BASS, INC. Perry R. Bass, Inc.,
SID R. BASS, INC. Sid R. Bass, Inc.,
LEE M. BASS, INC. Lee M. Bass, Inc.,
KEYSTONE, INC. Keystone, Inc.,
THRU LINE INC. Thru Line Inc.
ATTEST:
By: /s/ DORSEY D. CROUSE By: /s/ W. FRANK McCREIGHT
------------------------------- -----------------------------------
Dorsey D. Crouse, Assistant W. Frank McCreight, Vice President
Secretary of all named corporations
GOLIAD PARTNERS, L.P.
CORPORATE SEALS OF By: Its Managing Partners
PRB-GP, INC. PRB-GP, Inc.
LMB-GP, INC. LMB-GP, Inc.
WPH-GP, INC. WPH-GP, Inc.
ATTEST:
By:/s/ DORSEY D. CROUSE By: /s/ W. FRANK McCREIGHT
------------------------------- -----------------------------------
Dorsey D. Crouse, Assistant W. Frank McCreight, Vice President
Secretary
/s/ PERRY R. BASS
--------------------------------------
PERRY R. BASS, TRUSTEE
/s/ SID R. BASS
--------------------------------------
SID R. BASS, TRUSTEE
/s/ LEE M. BASS
--------------------------------------
Lee M. Bass
CORPORATE SEAL OF DW GENPAR, INC.
DW GENPAR, INC.
ATTEST:
By: /s/ DORSEY D. CROUSE By: /s/ W. FRANK McCREIGHT
------------------------------- -----------------------------------
Dorsey D. Crouse, Assistant W. Frank McCreight, Vice President
Secretary
CORPORATE SEAL OF WD PARTNERS, L. P.
DW GENPAR, INC. By: DW Genpar, Inc., General Partner
ATTEST:
By: /s/ DORSEY D. CROUSE By: /s/ W. FRANK McCREIGHT
------------------------------- -----------------------------------
Dorsey D. Crouse, Assistant W. Frank McCreight, Vice President
Secretary
4
CORPORATE SEAL OF WPH-GP, INC.
WPH-GP, INC.
ATTEST:
By: /s/ DORSEY D. CROUSE By: /s/ W. FRANK McCREIGHT
------------------------------- -----------------------------------
Dorsey D. Crouse, Assistant W. Frank McCreight, Vice President
Secretary
CORPORATE SEAL OF WORLAND ASSOCIATES, a Texas General
SID R. BASS, INC. Partnership
By: Sid R. Bass, Inc., Managing
ATTEST: Partner
By: /s/ DORSEY D. CROUSE By: /s/ W. FRANK McCREIGHT
------------------------------- -----------------------------------
Dorsey D. Crouse, Assistant W. Frank McCreight, Vice President
Secretary
CORPORATE SEAL OF WORLAND ASSOCIATES II, a Texas
SID R. BASS, INC. General Partnership
By: Sid R. Bass, Inc., Managing
ATTEST: Partner
By: /s/ DORSEY D. CROUSE By: /s/ W. FRANK McCREIGHT
------------------------------- -----------------------------------
Dorsey D. Crouse, Assistant W. Frank McCreight, Vice President
Secretary
ASSIGNEE
CORPORATE SEAL OF CONTINENTAL RESOURCES, INC.
CONTINENTAL RESOURCES, INC.
ATTEST:
By: /s/ RANDY MOEDER By: /s/ TOM LUTTRELL
------------------------------- -----------------------------------
Tom Luttrell, Vice President-Land
(ACKNOWLEDGEMENTS ATTACHED)
5
STATE OF TEXAS )
) ss.
COUNTY OF TARRANT )
The foregoing instrument was acknowledged before me by W. FRANK MCCREIGHT,
as VICE PRESIDENT OF BASS ENTERPRISES PRODUCTION CO., PERRY R. BASS, INC., SID
R. BASS, INC., LEE M. BASS, INC., KEYSTONE, INC., THRU LINE INC., PRB-GP, INC.,
LMB-GP, INC., WPH-GP, INC., and GW GENPAR, INC., this 14th day of May, 1998.
Witness my hand and official seal.
My Commission Expires:
/s/ BETTY H. PALMORE
----------------------------------
05/07/2001 Notary Public
- ---------------------
NOTARY SEAL OF BETTY H. PALMORE
STATE OF TEXAS )
) ss.
COUNTY OF TARRANT )
The foregoing instrument was acknowledged before me by Perry R. Bass,
Trustee, this 14th day of May, 1998.
Witness my hand and official seal.
My Commission Expires:
/s/ BETTY H. PALMORE
----------------------------------
05/07/2001 Notary Public
- ---------------------
NOTARY SEAL OF BETTY H. PALMORE
STATE OF TEXAS )
) ss.
COUNTY OF TARRANT )
The foregoing instrument was acknowledged before me by Sid R. Bass, this
14th day of May, 1998.
Witness my hand and official seal.
My Commission Expires:
/s/ BETTY H. PALMORE
----------------------------------
05/07/2001 Notary Public
- ---------------------
NOTARY SEAL OF BETTY H. PALMORE
STATE OF TEXAS )
) ss.
COUNTY OF TARRANT )
The foregoing instrument was acknowledged before me by Lee M. Bass, this
14th day of May, 1998.
Witness my hand and official seal.
My Commission Expires:
/s/ BETTY H. PALMORE
----------------------------------
05/07/2001 Notary Public
- ---------------------
NOTARY SEAL OF BETTY H. PALMORE
6
STATE OF TEXAS )
) ss.
COUNTY OF TARRANT )
The foregoing instrument was acknowledged before me by Tom Luttrell as Vice
President - Land - for Continental Resources, Inc., this 14th day of May, 1998.
Witness my hand and official seal.
My Commission Expires:
/s/ BETTY H. PALMORE
----------------------------------
05/07/2001 Notary Public
- ---------------------
NOTARY SEAL OF BETTY H. PALMORE
7
EXHIBIT C
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 001 49043053070000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 002 49043053230000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 004 49043052760000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 005 49043052820000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 006 49043052730000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 007 49043053010000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 008 49043052860000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 008X 49043207830000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 009 49043053030000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 010 49043052650000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 010X 49043207190000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 011 49043052450000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 012 49043052690000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 014 49043052510000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 015 49043052460000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 015X 49043207200000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 016 49043052710000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 017 49043052300000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 018 49043052870000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 018X 49043207210000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 019 49043052520000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 020 49043052700000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 021 49043052530000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 022 49043052320000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 023 49043053040000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 024 49043052380000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 025 49043052400000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 026 49043052980000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 027 49043052390000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 028 49043052670000 COTTONWOOD CREEK BEPCO PA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 001 SW SW 02 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 002 SW NE 03 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 004 SE SE 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 005 NW SW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 006 NW NE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 007 NW NW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 008 NW SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 008X NW SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 009 NW NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 010 NW NW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 010X NW NW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 011 NW SE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 012 NW NE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 014 NW SW 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 015 NW SW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 015X NW SW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 016 NW NE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 017 NW NW 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 018 NW SW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 018X NW SW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 019 NW SE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 020 NW NW 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 021 NW SE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 022 NW NE 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 023 NW SW 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 024 NW NW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 025 NW NE 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 026 NW NW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 027 NW NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 028 NW NW 14 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 029 49043052490000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 030 49043052950000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 031 49043052500000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 032 49043052360000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 033 49043052480000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 034 49043052680000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 035 49043052840000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 036 49043052340000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 037 49043052970000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 038 49043052350000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 039 49043052830000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 040 49043051960000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 041 49043053160000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 042 49043052810000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 043 49043053710000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 044 49043052640000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 045 49043052960000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 046 49043052990000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 047 49043053300000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 048 49043052780000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 050 49043052660000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 051 49043052330000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 052 49043052630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 053 49043053290000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 054 49043053520000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 055 49043053130000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 059 49043051970000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 060 49043051920000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 061 49043051940000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 062 49043051950000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 063 49043051870000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 029 NW SW 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 030 NW NW 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 031 NW SE 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 032 NW NW 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 033 NW SW 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 034 NW NE 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 035 NW SW 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 036 NW NW 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 037 NW NE 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 038 NW NE 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 039 NW SE 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 040 NW SE 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 041 NW SE 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 042 NW SW 05 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 043 NW NE 32 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 044 NW NE 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 045 NW NW 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 046 NW NW 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 047 NW NW 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 048 NW SE 08 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 050 NW NW 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 051 NW NE 21 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 052 NW NW 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 053 NW NE 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 054 NW SE 32 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 055 NW SW 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 059 NW SE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 060 NW SW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 061 NW SW 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 062 NW SE 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 063 NW NE 26 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 2
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 064 49043051880000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 066 49043052940000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 067 49043052880000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 068 49043052770000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 069 49043052920000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 070 49043052720000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 070X 49043207170000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 071 49043052620000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 072 49043052750000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 073 49043052570000 COTTONWOOD CREEK BEPCO SI
COTTONWOOD CREEK UNIT 074 49043052580000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 074X 49043208070000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 075 49043052410000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 077 49043052470000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 078 49043052850000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 081 49043051860000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 081A 49043206300000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 082 49043052740000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 083 49043052910000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 084 49043053020000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 086 49043052930000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 087 49043052790000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 088 49043055890000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 089 49043200180000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 090 49043200170000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 091 49043200220000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 092 49043056060000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 094 49043200090000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 095 49043200350000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 096 49043200310000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 097 49043200360000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 064 NW NW 25 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 066 SW NW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 067 NW SW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 068 SE SE 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 069 NW SW 09 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 070 NW NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 070X NW NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 071 NW NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 072 NW NW 16 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 073 NW SW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 074 NW SE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 074X SW SE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 075 NW NW 20 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 077 NW SE 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 078 NW SE 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 081 NW NE 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 081A NW NE 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 082 NW NE 16 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 083 NW SE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 084 NW NE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 086 NW SE 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 087 NE SW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 088 SE SE 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 089 SE NW 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 090 SE NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 091 SE SE 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 092 SE SE 01 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 094 SE SW 01 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 095 SE SW 06 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 096 NW SW 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 097 SE SE 02 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 3
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 098 49043200550000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 101 49043201130000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 102 49043201880000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 103 49043201900000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 104 49043201520000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 105 49043201850000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 106 49043201830000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 107 49043203870000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 108 49043201970000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 111 49043202110000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 113 49043202150000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 114 49043202140000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 115 49043202170000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 116 49043202160000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 118 49043202180000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 120 49043203110000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 121 49043204450000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 122 49043204450000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 123 49043204310000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 124 49043204380000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 125 49043204300000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 126 49043204320000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 127 49043204370000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 128 49043204430000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 129 49043204590000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 130 49043204500000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 131 49043204510000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 132 49043204580000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 133 49043204570000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 134 49043204560000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 134X 49043207300000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 098 NW SE 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 101 NW NW 26 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 102 NW NE 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 103 SE SE 22 47N 91W .91098601 .76677372 .00004650
COTTONWOOD CREEK UNIT 104 SE SE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 105 SE NE 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 106 SE SW 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 107 SE SW 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 108 SE NE 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 111 NE SE 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 113 SE NE 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 114 SE NE 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 115 SE NW 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 116 SW NW 22 47N 92W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 118 SE NW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 120 SE NW 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 121 NW SW 05 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 122 SW SW 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 123 SE SE 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 124 SE NW 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 125 SE NW 26 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 126 SE SW 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 127 SE NW 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 128 SE SW 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 129 SE SW 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 130 SE NW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 131 SE NE 26 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 132 SE SW 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 133 SE NE 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 134 SE NW 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 134X SE NW 27 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 4
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 135 49043204650000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 136 49043204630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 139 49043204930000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 141 49043264850000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 145 49043205040000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 151 49043205680000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 156 49043205640000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 157 49043205790000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 158 49043205650000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 159 49043205660000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 160 49043205800000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 161 49043205810000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 162 49043205630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 163 49043205670000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 165 49043205630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 166 49043205840000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 167 49043206110000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 168 49043206050000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 169 49043206040000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 171 49043206060000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 172 49043206090000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 173 49043206130000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 174 49043206150000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 175 49043206120000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 179 49043206200000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 180 49043206210000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 182 49043206190000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 183 49043206350000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 184 49043206370000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 165 49043206380000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 186 49043206420000 COTTONWOOD CREEK BEPCO TA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 135 NW SE 31 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 136 SW SE 07 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 139 SE NW 21 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 141 SE SW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 145 SE SE 08 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 151 SE SE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 156 NW NE 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 157 SE NW 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 158 SE SE 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 159 SE SW 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 160 SE NE 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 161 SE NW 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 162 SE NE 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 163 SE NW 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 165 SE NW 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 166 SE SW 08 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 167 SW SE 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 168 SE NE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 169 SW SW 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 171 NE NW 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 172 NE NE 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 173 SE NE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 174 SE SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 175 SE NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 179 SE SW 09 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 180 SE SW 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 182 SE NW 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 183 NW NW 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 184 SW NW 25 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 185 NW NE 05 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 186 NW SW 17 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 5
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 199 49043206480000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 200 49043206470000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 201 49043206460000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 208 49043206490000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 210 49043207290000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 211 49043207270000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 212 49043207280000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 213 49043207260000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 214 49043207390000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 215 49043207410000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 216 49043207420000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 217 49043207350000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 218 49043207360000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 219 49043207400000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 220 49043207370000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 221 49043207430000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 222 49043207450000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 223 49043207460000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 224 49043207470000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 225 49043207490000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 226 49043207500000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 227 49043207480000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 228 49043207630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 229 49043207650000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 230 49043207660000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 231 49043207670000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 232 49043207680000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 233 49043207690000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 234 49043207740000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 235 49043207730000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 236 49043207700000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
COTTONWOOD CREEK UNIT 199 SE NE 18 47N 90W .91098801 .76577372 .00004650
COTTONWOOD CREEK UNIT 200 SE NE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 201 SE NW 13 47N 92W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 208 SE NW 16 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 210 SE NW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 211 SW SW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 212 SE SW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 213 SE SE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 214 SE SW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 215 SE NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 216 NE NE 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 217 SE NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 218 SE NW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 219 SW SW 09 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 220 SE SE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 221 SE SW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 222 NW NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 223 NE SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 224 SW SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 225 SW SW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 226 SE NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 227 SW NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 228 SW NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 229 NE NW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 230 SE NE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 231 NW SE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 232 SE SE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 233 SE SW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 234 LOT 05 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 235 NW NE 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 236 NE NE 13 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 6
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 237 49043207620000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 238 49043207520000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 239 49043207530000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 240 49043207710000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 241 49043207720000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 242 49043207750000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 243 49043207840300 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 244 49043207850000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 245 49043207980000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 246 49043207950000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 247 49043207960000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 248 49043207970000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 249 49043208010000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 250 49043207990000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 251 49043208050000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 252 49043207770000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 253 49043207780000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 254 49043207790000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 255 49043207800000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 256 49043207810000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 257 49043207820000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 258 49043208000000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 259 49043208020000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 260 49043208030000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 261 49043207860000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 263 49043207880000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 267 49043208190000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 269 49043208210000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 271 49043208110000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 272 49043208150000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 273 49043208120000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 237 NE NE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 238 NW SW 33 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 239 SW NE 08 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 240 SW SE 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 241 SE NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 242 SE NW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 243 SE SE 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 244 SW SE 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 245 NE SE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 246 SW NE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 247 SE NW 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 248 NE NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 249 NE NW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 250 NE NE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 251 SE NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 252 SW SW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 253 NW NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 254 NE NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 255 SE NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 256 SW NW 20 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 257 SE NW 20 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 258 SW SE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 259 SW SE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 260 NW SE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 261 NW SW 09 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 263 SW SE 32 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 267 NW NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 269 SW NW 26 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 271 NE NW 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 272 SE SE 02 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 273 NE NW 12 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 7
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 274 49043208130000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 275 49043208140000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 276 49043208170000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 277 49043208080000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 278 49043208090000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 279 04043208060000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 280 49043208100000 COTTONWOOD CREEK BEPCO PRD
1277602 COTTONWOOD CREEK UNIT - TENSLP
TENSLEEP UNIT 065 49043053000000 COTTONWOOD CREEK BEPCO PRD
TENSLEEP UNIT 110 49043202070000 COTTONWOOD CREEK BEPCO PRD
TENSLEEP UNIT 117 49043202190000 COTTONWOOD CREEK BEPCO PRD
TENSLEEP UNIT 119 49043202310000 COTTONWOOD CREEK BEPCO PRD
1277604 COTTONWOOD CREEK UNIT WELL#189
COTTONWOOD CREEK NPA 189 49043206400000 COTTONWOOD CREEK BEPCO PRD
1277605 COTTONWOOD CREEK UNIT WELL#190
COTTONWOOD CREEK NPA 190 49043206410000 COTTONWOOD CREEK BEPCO PRD
1277606 COTTONWOOD CREEK UNIT WELL #56
COTTONWOOD CREEK NPA 056 49043053510000 COTTONWOOD CREEK BEPCO TA
1277608 COTTONWOOD CREEK UNIT WELL #76
COTTONWOOD CREEK NPA 076 49043052800000 COTTONWOOD CREEK BEPCO TA
1277610 COTTONWOOD CREEK UNIT WELL #85
COTTONWOOD CREEK NPA 085 49043051850000 COTTONWOOD CREEK BEPCO TA
1277611 COTTONWOOD CREEK UNIT WELL#197
COTTONWOOD CREEK NPA 197 49043206440000 COTTONWOOD CREEK BEPCO TA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 274 SE NE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 275 NE SW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 276 NE NW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 277 NW SE 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 278 NW SE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 279 NE NW 16 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 280 NW NE 16 47N 90W .91098801 .76677372 .00004650
1277602 COTTONWOOD CREEK UNIT - TENSLP
TENSLEEP UNIT 065 NW NE 07 47N 90W 1.00000000 .83746144 .00000000
TENSLEEP UNIT 110 SW NE 07 47N 90W 1.00000000 .83746144 .00000000
TENSLEEP UNIT 117 NW SE 07 47N 90W 1.00000000 .83746144 .00000000
TENSLEEP UNIT 119 NE NW 07 47N 90W 1.00000000 .83746144 .00000000
1277604 COTTONWOOD CREEK UNIT WELL#189
COTTONWOOD CREEK NPA 189 NW SE 07 47N 91W 1.00000000 .82500000 .00000000
1277605 COTTONWOOD CREEK UNIT WELL#190
COTTONWOOD CREEK NPA 190 NW NW 08 47N 91W 1.00000000 .82500000 .00000000
1277606 COTTONWOOD CREEK UNIT WELL #56
COTTONWOOD CREEK NPA 056 NW SW 32 48N 91W .91956760 .80462150 .00000000
1277608 COTTONWOOD CREEK UNIT WELL #76
COTTONWOOD CREEK NPA 076 NW SW 08 47N 91W .92203300 .67747480 .00000000
1277610 COTTONWOOD CREEK UNIT WELL #85
COTTONWOOD CREEK NPA 085 NW NW 27 47N 91W .91328560 .73088980 .00000000
1277611 COTTONWOOD CREEK UNIT WELL#197
COTTONWOOD CREEK NPA 197 NW SE 09 47N 90W 1.00000000 .81500000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 8
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277613 COTTONWOOD CREEK UNIT - FRONTIER
COTTONWOOD CREEK UNIT 209 49043202580000 COTTONWOOD CREEK UNIT BEPCO TA
1277614 COTTONWOOD CREEK NPA - #109
COTTONWOOD CREEK NPA 109 49043202050000 COTTONWOOD CREEK UNIT BEPCO TA
1277617 COTTONWOOD CREEK UNIT #262
COTTONWOOD CREEK NPA 262 49043207870000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277613 COTTONWOOD CREEK UNIT - FRONTIER
COTTONWOOD CREEK UNIT 209 NE NW 8 47N 90W .00000000 .00000000 .00000000
1277614 COTTONWOOD CREEK NPA - #109
COTTONWOOD CREEK NPA 109 NW SE 17 47N 91W .91098801 .76677372 .00004650
1277617 COTTONWOOD CREEK UNIT #262
COTTONWOOD CREEK NPA 262 SE SW 05 47N 91W .91000750 .75075619 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 9
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK FIELD EXTENSION (PHOSPHORIA) UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1196001 COTTONWOOD CREEK EXT UNIT
CC EXTENSION UNIT 1-1 49043201540000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 11-1 49043201700000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 14-1 49043201760000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 16-1 49043201410000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 16-1X 49043207230000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 18-1 49043056030000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 19-1 49043201490000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 19-1X 49043206170000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 20-1 49043201500000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 20-1X 49043207240000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 21-1 49043201740000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 22-1 49043201840000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 23-1 49043201860000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 24-1 49043200080000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 26-1 49043206280000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 27-1 49043206270000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 28-1 49043206260000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 29-1 49043207920000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 3-1 49043051750000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 30-1 49043208160000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 31-1 49043208220000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1196001 COTTONWOOD CREEK EXT UNIT
CC EXTENSION UNIT 1-1 LOT 5 01 46N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 11-1 NW SE 31 47N 90W .96870790 .81103222 .00061500
CC EXTENSION UNIT 14-1 LOT 14 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 16-1 NW SW 31 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 16-1X LOT 7 31 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 18-1 NE SW 25 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 19-1 LOT 12 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 19-1X LOT 13 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 20-1 LOT 20 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 20-1X LOT 18 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 21-1 SW SW 32 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 22-1 SW NW 32 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 23-1 SW NE 31 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 24-1 NW NE 36 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 26-1 SE SW 25 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 27-1 LOT 12 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 28-1 SE SW 31 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 29-1 NW SW 25 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 3-1 SW SW 29 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 30-1 SE SE 26 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 31-1 LOT 08 31 47N 90W .96870790 .81103222 .00061900
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NO WATER CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252302 NO WATER CREEK UNIT
NO WATER CREEK UNIT 11 49043200970000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 12 49043201100000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 14 49043201330000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 17 49043207640000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 18 49043207930000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 19 49043208260000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 2 49043200280000 NO WATER CREEK BEPCO PA
NO WATER CREEK UNIT 20 49043208250000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 3 49043200450000 NO WATER CREEK BEPCO PA
NO WATER CREEK UNIT 5 49043200530000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 6 49043200640000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 7 49043200690000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 9 49043200810000 NO WATER CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252302 NO WATER CREEK UNIT
NO WATER CREEK UNIT 11 SW NW 05 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 12 NW SE 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 14 NE SW 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 17 LOT 16 05 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 18 LOT 13 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 19 LOT 11 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 2 LOT 13 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 20 SE NW 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 3 LOT 22 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 5 LOT 16 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 6 LOT 19 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 7 SW SE 31 47N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 9 LOT 09 05 46N 91W .94441730 .78727357 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
SLICK CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252208 SLICK CREEK UNIT (PHOSPHORIA)
SLICK CREEK H20 INJ #2 49043050020000 SLICK CREEK BEPCO DAI
SLICK CREEK PHOSPHORIA 02 49043050020000 SLICK CREEK BEPCO TA
SLICK CREEK PHOSPHORIA 03 49043051620000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 05 49043051700000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 06 49043051680000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 07 49043051660000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 1 49043051670000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 10 49043201520000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 11 49043201530000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 12 49043201580000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 21 49043210990000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 22 49043202250000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 30 49043205330000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 34-43 49043206530000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 35-31 49043206360000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 4 49043051610000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 8 49043051640000 SLICK CREEK BEPCO TA
1252209 SLICK CREEK UNIT (FRONTIER)
SLICK CREEK FRONTIER 13 49043201630000 SLICK CREEK BEPCO PA
SLICK CREEK FRONTIER 15 49043201640000 SLICK CREEK BEPCO PRD
SLICK CREEK FRONTIER 19 49043201690000 SLICK CREEK BEPCO PA
SLICK CREEK FRONTIER 20 49043201670000 SLICK CREEK BEPCO PRD
SLICK CREEK FRONTIER 8 49043051640000 SLICK CREEK BEPCO PA
1252210 SLICK CREEK UNIT (MUDDY)
SLICK CREEK MUDDY 06 49043051680000 SLICK CREEK BEPCO PA
SLICK CREEK MUDDY 07 49043051660000 SLICK CREEK BEPCO PA
SLICK CREEK MUDDY 11 49043201530000 SLICK CREEK BEPCO PA
SLICK CREEK MUDDY 16 49043201650000 SLICK CREEK BEPCO PA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252208 SLICK CREEK UNIT (PHOSPHORIA)
SLICK CREEK H20 INJ #2 SE NW 34 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 02 SE NW 34 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 03 LOT 8 02 46N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 05 SE NW 35 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 06 SE NW 33 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 07 NE SE 33 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 1 SE NE 32 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 10 SE SW 35 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 11 SE SE 32 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 12 NE SW 32 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 21 NW NE 02 46N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 22 NE NE 34 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 30 NE SW 33 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 34-43 SE NE 34 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 35-31 NW SE 35 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 4 LOT 8 03 46N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 8 SW SE 34 47N 92W 1.00000000 .86266071 .00054626
1252209 SLICK CREEK UNIT (FRONTIER)
SLICK CREEK FRONTIER 13 NW SE 34 47N 92W 1.00000000 .86500050 .00103100
SLICK CREEK FRONTIER 15 LOT 8 02 46N 92W 1.00000000 .86500050 .00103100
SLICK CREEK FRONTIER 19 NW SE 33 47N 92W 1.00000000 .86500050 .00103100
SLICK CREEK FRONTIER 20 NW SW 35 47N 92W 1.00000000 .86500050 .00103100
SLICK CREEK FRONTIER 8 SW SE 34 47N 92W 1.00000000 .86500050 .00103100
1252210 SLICK CREEK UNIT (MUDDY)
SLICK CREEK MUDDY 06 SE NW 33 47N 92W .00000000 .00000000 .00000000
SLICK CREEK MUDDY 07 NE SE 33 47N 92W .00000000 .00000000 .00000000
SLICK CREEK MUDDY 11 SE SE 32 47N 92W .00000000 .00000000 .00000000
SLICK CREEK MUDDY 16 NE SW 32 47N 92W .00000000 .00000000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
SLICK CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252210 SLICK CREEK UNIT (MUDDY)
SLICK CREEK MUDDY 17 49043201660000 SLICK CREEK BEPCO PA
SLICK CREEK UNIT
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252210 SLICK CREEK UNIT (MUDDY)
SLICK CREEK MUDDY 17 LOT 8 03 46N 92W .00000000 .00000000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 2
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
SOUTH FRISBY UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252214 SOUTH FRISBY UNIT
SOUTH FRISBY 2 49043202040000 SOUTH FRISBY BEPCO PRD
SOUTH FRISBY 24-33 49043206390000 SOUTH FRISBY BEPCO PRD
SOUTH FRISBY 3 49043202350000 SOUTH FRISBY BEPCO TA
SOUTH FRISBY 4 49043202600000 SOUTH FRISBY BEPCO PA
SOUTH FRISBY 6 49043202950000 SOUTH FRISBY BEPCO PRD
SOUTH FRISBY 7 49043203940000 SOUTH FRISBY BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252214 SOUTH FRISBY UNIT
SOUTH FRISBY 2 NW SE 24 47N 92W 1.00000000 .86004334 .00000000
SOUTH FRISBY 24-33 SE SE 24 47N 92W 1.00000000 .86004334 .00000000
SOUTH FRISBY 3 SE NW 24 47N 92W 1.00000000 .86004334 .00000000
SOUTH FRISBY 4 NE NE 25 47N 92W 1.00000000 .86004334 .00000000
SOUTH FRISBY 6 LOT 9 30 47N 91W 1.00000000 .86004334 .00000000
SOUTH FRISBY 7 SE NW 30 47N 91W 1.00000000 .86004334 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (COOP)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1161201 COTTONWOOD CREEK FEDERAL
COTTONWOOD CREEK 35-1 49043203730000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK 35-44 49043205970000 COTTONWOOD CREEK BEPCO PRD
1161202 COTTONWOOD CREEK STATE
COTTONWOOD CREEK 36-1 49043204090000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK 36-24 49043205690000 COTTONWOOD CREEK BEPCO PRD
1161203 COTTONWOOD CREEK FEDERAL #35-2
COTTONWOOD CREEK 35-2 49043204050000 COTTONWOOD CREEK BEPCO PRD
1161204 COTTONWOOD CREEK FEDERAL #35-3
COTTONWOOD CREEK 35-3 49043204020000 COTTONWOOD CREEK BEPCO PRD
1161205 COTTONWOOD CREEK FEDERAL #2-1
COTTONWOOD CREEK 2-1 49043204260000 COTTONWOOD CREEK BEPCO PRD
1161207 COTTONWOOD CREEK FEDERAL #2-34
COTTONWOOD CREEK 2-34 49043204730000 COTTONWOOD CREEK BEPCO PRD
1161212 COTTONWOOD CREEK FEDERAL #26-23
COTTONWOOD CREEK 26-23 49043206250000 COTTONWOOD CREEK BEPCO PRD
1161213 COTTONWOOD CREEK FEDERAL #21-23
COTTONWOOD CREEK 21-23 49043206500000 COTTONWOOD CREEK BEPCO PRD
1161214 COTTONWOOD CREEK FEDERAL #28-41
COTTONWOOD CREEK 28-41 49043206450000 COTTONWOOD CREEK BEPCO TA
1161215 COTTONWOOD CREEK FEDERAL #26-21
COTTONWOOD CREEK 26-21 49043206510000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1161201 COTTONWOOD CREEK FEDERAL
COTTONWOOD CREEK 35-1 NW NE 35 47N 91W 1.00000000 .81250000 .00000000
COTTONWOOD CREEK 35-44 NE NE 35 47N 91W 1.00000000 .81250000 .00000000
1161202 COTTONWOOD CREEK STATE
COTTONWOOD CREEK 36-1 SW NW 36 47N 91W 1.00000000 .81250000 .00000000
COTTONWOOD CREEK 36-24 NE SW 36 47N 91W 1.00000000 .81250000 .00000000
1161203 COTTONWOOD CREEK FEDERAL #35-2
COTTONWOOD CREEK 35-2 NW NW 35 47N 91W 1.00000000 .81562500 .00000000
1161204 COTTONWOOD CREEK FEDERAL #35-3
COTTONWOOD CREEK 35-3 NW SE 35 47N 91W 1.00000000 .81250000 .00000000
1161205 COTTONWOOD CREEK FEDERAL #2-1
COTTONWOOD CREEK 2-1 LOT 11 2 46N 91W 1.00000000 .81250000 .00000000
1161207 COTTONWOOD CREEK FEDERAL #2-34
COTTONWOOD CREEK 2-34 NE SE 2 46N 91W 1.00000000 .82500000 .00000000
1161212 COTTONWOOD CREEK FEDERAL #26-23
COTTONWOOD CREEK 26-23 SE SW 26 47N 91W 1.00000000 .70312500 .00187500
1161213 COTTONWOOD CREEK FEDERAL #21-23
COTTONWOOD CREEK 21-23 SE SW 21 47N 91W 1.00000000 .80937500 .06562500
1161214 COTTONWOOD CREEK FEDERAL #28-41
COTTONWOOD CREEK 28-41 NW NE 28 47N 91W 1.00000000 .73125000 .01875000
1161215 COTTONWOOD CREEK FEDERAL #26-21
COTTONWOOD CREEK 26-21 NW SW 26 47N 91W 1.00000000 .71290000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (CO-OP)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1161217 KNISLEY FEDERAL #1
KNISELY FEDERAL #1 49043051760000 COTTONWOOD CREEK BEPCO PRD
1252201 EARL SCHRANTZ USA
SCHRANTZ USA 1 49043051730000 COTTONWOOD CREEK BEPCO PRD
SCHRANTZ USA 3 49043200500000 COTTONWOOD CREEK BEPCO PRD
SCHRANTZ USA 4 49043200510000 COTTONWOOD CREEK BEPCO PA
SCHRANTZ USA 5 49043208240000 COTTONWOOD CREEK BEPCO PRD
1252202 TOLMAN USA
TOLMAN USA 2 49043200330000 COTTONWOOD CREEK BEPCO PRD
TOLMAN USA 3 49043200590000 COTTONWOOD CREEK BEPCO PRD
1252203 CALDWELL USA #1-7
CALDWELL USA 1-7 49043203830000 COTTONWOOD CREEK BEPCO PRD
1252204 FAURE USA
USA FAURE 1 49043200430000 RATTLESNAKE BEPCO PRD
USA FAURE 2 49043200570000 RATTLESNAKE BEPCO PA
USA FAURE 4 49043201020000 RATTLESNAKE BEPCO PRD
1252205 FAURE "A" USA
USA FAURE A2-2 49043203840000 RATTLESNAKE BEPCO PRD
1252206 LACOY FEDERAL
LACOY FEDERAL 13-1 49043200770000 RATTLESNAKE BEPCO PRD
1252207 BEARD FEDERAL
BEARD FEDERAL 1 49043201090000 RATTLESNAKE BEPCO PA
1252211 ROME FEDERAL
ROME FEDERAL 1 49043201720000 SLICK CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1161217 KNISLEY FEDERAL #1
KNISELY FEDERAL #1 NW SE 27 47N 91W 1.00000000 .71500000 .00000000
1252201 EARL SCHRANTZ USA
SCHRANTZ USA 1 NW NE 33 47N 91W 1.00000000 .79375000 .05035164
SCHRANTZ USA 3 SW SE 32 47N 91W 1.00000000 .79375000 .05035164
SCHRANTZ USA 4 SW SW 32 47N 91W 1.00000000 .79375000 .05035164
SCHRANTZ USA 5 NE SW 32 47N 91W 1.00000000 .79375000 .05035164
1252202 TOLMAN USA
TOLMAN USA 2 NW SW 28 47N 91W 1.00000000 .87500000 .00000000
TOLMAN USA 3 NW NW 28 47N 91W 1.00000000 .87500000 .00000000
1252203 CALDWELL USA #1-7
CALDWELL USA 1-7 LO 12 07 47N 91W .55480654 .47179217 .00000000
1252204 FAURE USA
USA FAURE 1 NW NW 11 47N 92W 1.00000000 .82500000 .00000000
USA FAURE 2 NW SE 11 47N 92W 1.00000000 .82500000 .00000000
USA FAURE 4 NW SW 11 47N 92W 1.00000000 .82500000 .00000000
1252205 FAURE "A" USA
USA FAURE A2-2 NE NE 02 47N 92W 1.00000000 .82500000 .00000000
1252206 LACOY FEDERAL
LACOY FEDERAL 13-1 NW NW 13 47N 92W 1.00000000 .82500000 .00000000
1252207 BEARD FEDERAL
BEARD FEDERAL 1 NW NW 12 47N 92W 1.00000000 .84900000 .00000000
1252211 ROME FEDERAL
ROME FEDERAL 1 SE SE 02 46N 92W 1.00000000 .81250000 .06250000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 2
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (CO-OP)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252213 NEIBER II UNIT (TENSLEEP)
NEIBER UNIT II-I 49043202610000 NEIBER DOME BEPCO PRD
1252215 SOUTH FRISBY LACOY FED #5 & #8
SOUTH FRISBY 5 49043202630000 SOUTH FRISBY BEPCO PRD
SOUTH FRISBY 8 49043203950000 SOUTH FRISBY BEPCO PRD
1252217 CALDWELL USA #20
CALDWELL 1-20 49043203960000 COTTONWOOD CREEK BEPCO PRD
CALDWELL 2-20 49043203990000 COTTONWOOD CREEK BEPCO PRD
1252218 SMITH USA #30
SMITH USA 1-30 49043203620000 SOUTH FRISBY BEPCO PRD
1252219 TENNECO FEDERAL #23
TENNECO FEDERAL 1-23 49043204960000 SOUTH FRISBY BEPCO PRD
1252220 COTTONWOOD CREEK FEDERAL #19
COTTONWOOD CREEK FED 19-1 49043203520000 SOUTH FRISBY BEPCO PRD
1252328 NO WATER CREEK #4
NO WATER CREEK 4 49043200540000 NO WATER CREEK BEPCO PA
1252329 NO WATER CREEK #8
NO WATER CREEK 8 49043201180000 NO WATER CREEK BEPCO TA
1252330 NO WATER CREEK #13
NO WATER CREEK 13 49043201230000 NO WATER CREEK BEPCO TA
1252331 NO WATER CREEK #15
NO WATER CREEK 15 49043201290000 NO WATER CREEK BEPCO TA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252213 NEIBER II UNIT (TENSLEEP)
NEIBER UNIT II-I LOT 15 19 45N 92W .76909143 .67295528 .00000000
1252215 SOUTH FRISBY LACOY FED #5 & #8
SOUTH FRISBY 5 LOT 9 19 47N 91W 1.00000000 .85500000 .00000000
SOUTH FRISBY 8 NE NE 24 47N 92W 1.00000000 .85500000 .00000000
1252217 CALDWELL USA #20
CALDWELL 1-20 SW SW 20 47N 91W 1.00000000 .84000000 .00000000
CALDWELL 2-20 SW NW 20 47N 91W 1.00000000 .84000000 .00000000
1252218 SMITH USA #30
SMITH USA 1-30 NE NE 30 47N 91W 1.00000000 .84750000 .00000000
1252219 TENNECO FEDERAL #23
TENNECO FEDERAL 1-23 SE NE 23 47N 92W 1.00000000 .87500000 .00000000
1252220 COTTONWOOD CREEK FEDERAL #19
COTTONWOOD CREEK FED 19-1 NW SE 19 47N 91W 1.00000000 .85250000 .00000000
1252328 NO WATER CREEK #4
NO WATER CREEK 4 LOT 9 31 47N 91W 1.00000000 .82500000 .00000000
1252329 NO WATER CREEK #8
NO WATER CREEK 8 SW NE 31 47N 91W 1.00000000 .82500000 .00000000
252330 NO WATER CREEK #13
NO WATER CREEK 13 LOT 11 05 46N 91W 1.00000000 .84500000 .00000000
1252331 NO WATER CREEK #15
NO WATER CREEK 15 SW NE 05 46N 91W 1.00000000 .84500000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 3
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (CO-OP)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1305001 CHAMBERS STATE
CHAMBERS STATE #1-36 49043203040000 RATTLESNAKE BEPCO PRD
CHAMBERS STATE #2-36 49043203140000 RATTLESNAKE BEPCO PRD
CHAMBERS STATE #3-36 49043203210000 RATTLESNAKE BEPCO PA
CHAMBERS STATE #4-36 49043207940000 RATTLESNAKE BEPCO PRD
CHAMBERS STATE #5-36 49043208200000 RATTLESNAKE BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1305001 CHAMBERS STATE
CHAMBERS STATE #1-36 SW SW 36 48N 92W 1.00000000 .84500000 .00000000
CHAMBERS STATE #2-36 SW SE 36 48N 92W 1.00000000 .84500000 .00000000
CHAMBERS STATE #3-36 SW NW 36 48N 92W 1.00000000 .84500000 .00000000
CHAMBERS STATE #4-36 NE SW 36 48N 92W 1.00000000 .84500000 .00000000
CHAMBERS STATE #5-36 SW NE 36 48N 92W 1.00000000 .84500000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 4
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (OSO)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252303 COSEKA FEDERAL #18-3 & #18-4
ALTUS GOVERNMENT 18-3 49043203460000 COTTONWOOD CREEK WAGNER & BROWN, LTD. PRD
ALTUS GOVERNMENT 18-4 49043205420000 COTTONWOOD CREEK WAGNER & BROWN, LTD. PRD
1252304 GOVERNMENT 29-1
GOVERNMENT 29-1 49043202960000 COTTONWOOD CREEK SAMSON RESOURCES CORP PA
1252305 COSEKA FEDERAL #13-1, 2 & 3
ALTUS GOVERNMENT 13-1 49043203310000 COTTONWOOD CREEK WAGNER & BROWN, LTD. SI
ALTUS GOVERNMENT 13-2 49043203470000 COTTONWOOD CREEK WAGNER & BROWN, LTD. SI
ALTUS GOVERNMENT 13-3 49043205560000 COTTONWOOD CREEK WAGNER & BROWN, LTD. SI
1252306 COSEKA FEDERAL #18-1 & #18-5
ALTUS GOVERNMENT 18-1 49043203200000 COTTONWOOD CREEK WAGNER & BROWN, LTD. PRD
ALTUS GOVERNMENT 18-5 49043205740000 COTTONWOOD CREEK WAGNER & BROWN, LTD. PRD
1252307 BRENT FEDERAL #2 & #3 FED #32-1
BRENT FEDERAL 2 49043203920000 COTTONWOOD CREEK BRENT EXPLORATION, INC. SI
BRENT FEDERAL 3 49043203930000 COTTONWOOD CREEK BRENT EXPLORATION, INC. SI
FEDERAL 32-1 49043205090000 COTTONWOOD CREEK BRENT EXPLORATION, INC. SI
1252308 MARTIN FEDERAL #29-2
MARTIN FEDERAL 29-2 49043203300000 COTTONWOOD CREEK SAMSON RESOURCES CORP PRD
1252309 GOVERNMENT #14-2
GOVERNMENT #14-2 49043202920000 RATTLESNAKE SAMSON RESOURCES CORP SI
1252310 TENNECO GOVERNMENT #1-1 & 1-2
TENNECO GOVERNMENT 1-2 49043202940000 COTTONWOOD CREEK SAMSON RESOURCES CORP SI
1252311 GOVERNMENT #27-1
GOVERNMENT 27-1 49043202810000 COTTONWOOD CREEK MARKUS PRODUCTION, INC. PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252303 COSEKA FEDERAL #18-3 & #18-4
ALTUS GOVERNMENT 18-3 SE NW 18 47N 91W .00000000 .00000000 .09000000
ALTUS GOVERNMENT 18-4 NW NW 18 47N 91W .00000000 .00000000 .09000000
1252304 GOVERNMENT 29-1
GOVERNMENT 29-1 SW SW 29 47N 91W .00000000 .00000000 .00000000
1252305 COSEKA FEDERAL #13-1, 2 & 3
ALTUS GOVERNMENT 13-1 NE NE 13 47N 92W .00000000 .00000000 .09500000
ALTUS GOVERNMENT 13-2 NE SE 13 47N 92W .00000000 .00000000 .09500000
ALTUS GOVERNMENT 13-3 NW NE 13 47N 92W .00000000 .00000000 .09500000
1252306 COSEKA FEDERAL #18-1 & #18-5
ALTUS GOVERNMENT 18-1 Lot 12 18 47N 91W .00000000 .00000000 .08874760
ALTUS GOVERNMENT 18-5 NE SW 18 47N 91W .00000000 .00000000 .08874760
1252307 BRENT FEDERAL #2 & #3 FED #32-1
BRENT FEDERAL 2 SW NE 32 47N 91W .00000000 .00000000 .09472400
BRENT FEDERAL 3 SW NW 33 47N 91W .00000000 .00000000 .09472400
FEDERAL 32-1 NE NE 32 47N 91W .00000000 .00000000 .09472400
1252308 MARTIN FEDERAL #29-2
MARTIN FEDERAL 29-2 SW NW 29 47N 91W .04848480 .03636360 .09000000
1252309 GOVERNMENT #14-2
GOVERNMENT #14-2 NW NW 14 47N 92W .00000000 .00000000 .06250000
1252310 TENNECO GOVERNMENT #1-1 & 1-2
TENNECO GOVERNMENT 1-2 SW NW 01 47N 92W .00000000 .00000000 .01875000
1252311 GOVERNMENT #27-1
GOVERNMENT 27-1 SW SW 27 47N 92W .26666640 .19999980 .08500000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (OSO)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252313 BRENT FEDERAL #11-1
BRENT FEDERAL 11-1 49043204440000 COTTONWOOD CREEK WASHAKIE ENERGIES CO. LT PRD
1252314 BRENT FEDERAL #16-1
BRENT FEDERAL 16-1 49043204480000 COTTONWOOD CREEK WASHAKIE ENERGIES CO. LT PRD
1252316 SCHETTERLY #1-30
ALTUS SCHETTERLY 1-30 49043203630000 SOUTH FRISBY BRENT EXPLORATION, INC. PRD
1252317 BRENT FEDERAL #3-25
BRENT FEDERAL 3-25 49043204330000 SOUTH FRISBY BRENT EXPLORATION, INC. PRD
1252318 BRENT FEDERAL 13-24
BRENT FEDERAL 13-24 49043204600000 FRISBY SOUTH BRENT EXPLORATION, INC. PRD
1252319 BRENT FEDERAL 25-7
BRENT FEDERAL 25-7 49043205360000 FRISBY SOUTH ANDERSON MYERS PA
1252320 TENNECO USA #1
TENNECO USA 1 49043205910000 COTTONWOOD CREEK CAROL-HOLLY OIL CORP. PRD
1252321 GOVERNMENT #25-1
GOVERNMENT 25-1 49043202990000 SOUTH FORK MARKUS PRODUCTION, INC. PRD
1252322 GOVERNMENT #36-1
GOVERNMENT 36-1 49043202890000 COTTONWOOD CREEK MARKUS PRODUCTION, INC. SI
1252324 TENNECO USA 2
TENNECO USA 2 49043206080000 COTTONWOOD CREEK WYOMING RESOURCES PA
1252325 TENNECO USA #3
TENNECO USA 3 49043206230000 COTTONWOOD CREEK CAROL-HOLLY OIL CORP. PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252313 BRENT FEDERAL #11-1
BRENT FEDERAL 11-1 NE SW 01 46N 92W .00000000 .00000000 .05000000
1252314 BRENT FEDERAL #16-1
BRENT FEDERAL 16-1 SE SE 01 46N 92W .00000000 .00000000 .05000000
1252316 SCHETTERLY #1-30
ALTUS SATTTERLY 1-30 NE SE 30 47N 91W .00000000 .00000000 .06500000
1252317 BRENT FEDERAL #3-25
BRENT FEDERAL 3-25 NE NW 25 47N 92W .00000000 .00000000 .05000000
1252318 BRENT FEDERAL 13-24
BRENT FEDERAL 13-24 SW SW 24 47N 92W .00000000 .00000000 .05000000
1252319 BRENT FEDERAL 25-7
BRENT FEDERAL 25-7 SW NE 25 47N 92W .00000000 .00000000 .00000000
1252320 TENNECO USA #1
TENNECO USA 1 SW SE 25 47N 92W .00000000 .00000000 .10000000
1252321 GOVERNMENT #25-1
GOVERNMENT 25-1 SE NW 25 46N 92W .00000000 .00000000 .12500000
1252322 GOVERNMENT #36-1
GOVERNMENT 36-1 NE NE 36 47N 92W .26666640 .19999980 .03750000
1252324 TENNECO USA 2
TENNECO USA 2 SE SW 28 47N 91W .00000000 .00000000 .00000000
1252325 TENNECO USA #3
TENNECO USA 3 SE NW 28 47N 91W .12500000 .11312500 .05000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 2
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (OSO)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252327 RATTLESNAKE USA #4
RATTLESNAKE 4 49043206330000 COTTONWOOD CREEK CAROL-HOLLY OIL CORP. SI
1252332 BRENT FEDERAL #1
BRENT FEDERAL #1 49043203910000 COTTONWOOD CREEK BRENT EXPLORATION CO SI
1252333 HONEY BUTTE FEDERAL #3
HONEY BUTTE FEDERAL #3 49043203390000 RATTLESNAKE HANSON OPERATING COMPANY PRD
1252334 GOVERNMENT #14-1
GOVERNMENT 14-1 49043201140000 RATTLESNAKE MARKUS PRODUCTION, INC. SI
1252335 TENNECO GOVERNMENT #1-3
TENNECO GOVERNMENT 1-3 49043203030000 COTTONWOOD CREEK SAMSON RESOURCES CORP PRD
1252336 TENNECO GOVERNMENT #1-4
TENNECO GOVERNMENT 1-4 49043203010000 COTTONWOOD CREEK SAMSON RESOURCES CORP PRD
1252337 GOVERNMENT #28-1
GOVERNMENT 28-1 49043202970000 COTTONWOOD CREEK MARKUS PRODUCTION, INC. SI
1252338 GOVERNMENT #36-2
GOVERNMENT 36-2 49043203050000 COTTONWOOD CREEK MARKUS PRODUCTION, INC. SI
1256101 BASS FEDERAL 33-24 #1H
#1 H BASS FEDERAL 33-24 49043207100000 MARSHALL UNION PACIFIC RESOURCES PRD
1288501 SAGEBUSH FEDERAL #13-25
SAGEBUSH FED #13-25 49003208230000 SAGEBUSH ALV COMPANY PRD
1288502 SAGEBUSH FEDERAL #32-26
SAGEBUSH #32-26 49003208270000 SAGEBUSH ALV COMPANY PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252327 RATTLESNAKE USA #4
RATTLESNAKE 4 SE NW 11 47N 92W .05000000 .04245000 .00000000
1252332 BRENT FEDERAL #1
BRENT FEDERAL #1 NE NW 31 47N 91W .00000000 .00000000 .09000000
1252333 HONEY BUTTE FEDERAL #3
HONEY BUTTE FEDERAL #3 SW SE 16 47N 91W .10000000 .08350000 .00000000
1252334 GOVERNMENT #14-1
GOVERNMENT 14-1 NW NE 14 47N 92W .26666640 .19999978 .06250000
1252335 TENNECO GOVERNMENT #1-3
TENNECO GOVERNMENT 1-3 SW NE 01 47N 92W .25291700 .18652630 .01875000
1252336 TENNECO GOVERNMENT #1-4
TENNECO GOVERNMENT 1-4 SW SE 01 47N 92W .22736810 .16768400 .01875000
1252337 GOVERNMENT #28-1
GOVERNMENT 28-1 SW SE 28 47N 92W .04848480 .03636360 .08500000
1252338 GOVERNMENT #36-2
GOVERNMENT 36-2 NE NW 36 47N 92W .22736810 .17052610 .03750000
1256101 BASS FEDERAL 33-24 #1H
#1 H BASS FEDERAL 33-24 SW SE 24 48N 92W .00000000 .00000000 .03187499
1288501 SAGEBUSH FEDERAL #13-25
SAGEBUSH FED #13-25 NW SW 25 51N 92W .00000000 .00000000 .00830000
1288502 SAGEBUSH FEDERAL #32-26
SAGEBUSH #32-26 SW NE 26 51N 92W .00000000 .00000000 .04000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 3
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 001 49043053070000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 002 49043053230000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 004 49043052760000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 005 49043052820000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 006 49043052730000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 007 49043053010000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 008 49043052860000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 008X 49043207830000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 009 49043053030000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 010 49043052650000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 010X 49043207190000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 011 49043052450000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 012 49043052690000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 014 49043052510000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 015 49043052460000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 015X 49043207200000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 016 49043052710000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 017 49043052300000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 018 49043052870000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 018X 49043207210000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 019 49043052520000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 020 49043052700000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 021 49043052530000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 022 49043052320000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 023 49043053040000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 024 49043052380000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 025 49043052400000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 026 49043052980000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 027 49043052390000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 028 49043052670000 COTTONWOOD CREEK BEPCO PA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 001 SW SW 02 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 002 SW NE 03 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 004 SE SE 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 005 NW SW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 006 NW NE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 007 NW NW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 008 NW SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 008X NW SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 009 NW NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 010 NW NW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 010X NW NW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 011 NW SE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 012 NW NE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 014 NW SW 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 015 NW SW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 015X NW SW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 016 NW NE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 017 NW NW 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 018 NW SW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 018X NW SW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 019 NW SE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 020 NW NW 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 021 NW SE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 022 NW NE 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 023 NW SW 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 024 NW NW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 025 NW NE 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 026 NW NW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 027 NW NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 028 NW NW 14 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 029 49043052490000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 030 49043052950000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 031 49043052500000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 032 49043052360000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 033 49043052480000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 034 49043052680000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 035 49043052840000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 036 49043052340000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 037 49043052970000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 038 49043052350000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 039 49043052830000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 040 49043051960000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 041 49043053160000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 042 49043052810000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 043 49043053710000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 044 49043052640000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 045 49043052960000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 046 49043052990000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 047 49043053300000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 048 49043052780000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 050 49043052660000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 051 49043052330000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 052 49043052630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 053 49043053290000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 054 49043053520000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 055 49043053130000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 059 49043051970000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 060 49043051920000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 061 49043051940000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 062 49043051950000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 063 49043051870000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 029 NW SW 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 030 NW NW 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 031 NW SE 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 032 NW NW 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 033 NW SW 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 034 NW NE 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 035 NW SW 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 036 NW NW 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 037 NW NE 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 038 NW NE 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 039 NW SE 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 040 NW SE 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 041 NW SE 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 042 NW SW 05 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 043 NW NE 32 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 044 NW NE 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 045 NW NW 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 046 NW NW 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 047 NW NW 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 048 NW SE 08 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 050 NW NW 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 051 NW NE 21 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 052 NW NW 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 053 NW NE 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 054 NW SE 32 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 055 NW SW 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 059 NW SE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 060 NW SW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 061 NW SW 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 062 NW SE 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 063 NW NE 26 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 2
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 064 49043051880000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 066 49043052940000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 067 49043052880000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 068 49043052770000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 069 49043052920000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 070 49043052720000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 070X 49043207170000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 071 49043052620000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 072 49043052750000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 073 49043052570000 COTTONWOOD CREEK BEPCO SI
COTTONWOOD CREEK UNIT 074 49043052580000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 074X 49043208070000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 075 49043052410000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 077 49043052470000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 078 49043052850000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 081 49043051860000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 081A 49043206300000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 082 49043052740000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 083 49043052910000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 084 49043053020000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 086 49043052930000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 087 49043052790000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 088 49043055890000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 089 49043200180000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 090 49043200170000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 091 49043200220000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 092 49043056060000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 094 49043200090000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 095 49043200350000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 096 49043200310000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 097 49043200360000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 064 NW NW 25 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 066 SW NW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 067 NW SW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 068 SE SE 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 069 NW SW 09 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 070 NW NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 070X NW NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 071 NW NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 072 NW NW 16 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 073 NW SW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 074 NW SE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 074X SW SE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 075 NW NW 20 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 077 NW SE 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 078 NW SE 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 081 NW NE 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 081A NW NE 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 082 NW NE 16 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 083 NW SE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 084 NW NE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 086 NW SE 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 087 NE SW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 088 SE SE 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 089 SE NW 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 090 SE NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 091 SE SE 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 092 SE SE 01 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 094 SE SW 01 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 095 SE SW 06 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 096 NW SW 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 097 SE SE 02 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 3
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 098 49043200550000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 101 49043201130000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 102 49043201880000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 103 49043201900000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 104 49043201520000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 105 49043201850000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 106 49043201830000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 107 49043203870000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 108 49043201970000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 111 49043202110000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 113 49043202150000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 114 49043202140000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 115 49043202170000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 116 49043202160000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 118 49043202180000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 120 49043203110000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 121 49043204450000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 122 49043204450000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 123 49043204310000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 124 49043204380000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 125 49043204300000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 126 49043204320000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 127 49043204370000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 128 49043204430000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 129 49043204590000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 130 49043204500000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 131 49043204510000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 132 49043204580000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 133 49043204570000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 134 49043204560000 COTTONWOOD CREEK BEPCO PA
COTTONWOOD CREEK UNIT 134X 49043207300000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 098 NW SE 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 101 NW NW 26 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 102 NW NE 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 103 SE SE 22 47N 91W .91098601 .76677372 .00004650
COTTONWOOD CREEK UNIT 104 SE SE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 105 SE NE 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 106 SE SW 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 107 SE SW 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 108 SE NE 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 111 NE SE 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 113 SE NE 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 114 SE NE 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 115 SE NW 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 116 SW NW 22 47N 92W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 118 SE NW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 120 SE NW 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 121 NW SW 05 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 122 SW SW 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 123 SE SE 16 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 124 SE NW 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 125 SE NW 26 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 126 SE SW 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 127 SE NW 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 128 SE SW 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 129 SE SW 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 130 SE NW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 131 SE NE 26 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 132 SE SW 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 133 SE NE 22 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 134 SE NW 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 134X SE NW 27 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 4
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 135 49043204650000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 136 49043204630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 139 49043204930000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 141 49043264850000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 145 49043205040000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 151 49043205680000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 156 49043205640000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 157 49043205790000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 158 49043205650000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 159 49043205660000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 160 49043205800000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 161 49043205810000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 162 49043205630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 163 49043205670000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 165 49043205630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 166 49043205840000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 167 49043206110000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 168 49043206050000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 169 49043206040000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 171 49043206060000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 172 49043206090000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 173 49043206130000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 174 49043206150000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 175 49043206120000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 179 49043206200000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 180 49043206210000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 182 49043206190000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 183 49043206350000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 184 49043206370000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 165 49043206380000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 186 49043206420000 COTTONWOOD CREEK BEPCO TA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 135 NW SE 31 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 136 SW SE 07 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 139 SE NW 21 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 141 SE SW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 145 SE SE 08 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 151 SE SE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 156 NW NE 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 157 SE NW 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 158 SE SE 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 159 SE SW 10 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 160 SE NE 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 161 SE NW 09 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 162 SE NE 15 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 163 SE NW 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 165 SE NW 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 166 SE SW 08 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 167 SW SE 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 168 SE NE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 169 SW SW 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 171 NE NW 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 172 NE NE 27 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 173 SE NE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 174 SE SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 175 SE NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 179 SE SW 09 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 180 SE SW 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 182 SE NW 04 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 183 NW NW 17 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 184 SW NW 25 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 185 NW NE 05 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 186 NW SW 17 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 5
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 199 49043206480000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 200 49043206470000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 201 49043206460000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 208 49043206490000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 210 49043207290000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 211 49043207270000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 212 49043207280000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 213 49043207260000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 214 49043207390000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 215 49043207410000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 216 49043207420000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 217 49043207350000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 218 49043207360000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 219 49043207400000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 220 49043207370000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 221 49043207430000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 222 49043207450000 COTTONWOOD CREEK BEPCO TA
COTTONWOOD CREEK UNIT 223 49043207460000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 224 49043207470000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 225 49043207490000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 226 49043207500000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 227 49043207480000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 228 49043207630000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 229 49043207650000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 230 49043207660000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 231 49043207670000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 232 49043207680000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 233 49043207690000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 234 49043207740000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 235 49043207730000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 236 49043207700000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 199 SE NE 18 47N 90W .91098801 .76577372 .00004650
COTTONWOOD CREEK UNIT 200 SE NE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 201 SE NW 13 47N 92W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 208 SE NW 16 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 210 SE NW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 211 SW SW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 212 SE SW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 213 SE SE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 214 SE SW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 215 SE NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 216 NE NE 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 217 SE NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 218 SE NW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 219 SW SW 09 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 220 SE SE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 221 SE SW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 222 NW NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 223 NE SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 224 SW SE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 225 SW SW 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 226 SE NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 227 SW NE 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 228 SW NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 229 NE NW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 230 SE NE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 231 NW SE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 232 SE SE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 233 SE SW 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 234 LOT 05 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 235 NW NE 19 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 236 NE NE 13 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 6
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 237 49043207620000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 238 49043207520000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 239 49043207530000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 240 49043207710000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 241 49043207720000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 242 49043207750000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 243 49043207840300 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 244 49043207850000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 245 49043207980000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 246 49043207950000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 247 49043207960000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 248 49043207970000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 249 49043208010000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 250 49043207990000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 251 49043208050000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 252 49043207770000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 253 49043207780000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 254 49043207790000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 255 49043207800000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 256 49043207810000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 257 49043207820000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 258 49043208000000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 259 49043208020000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 260 49043208030000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 261 49043207860000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 263 49043207880000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 267 49043208190000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 269 49043208210000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 271 49043208110000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 272 49043208150000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 273 49043208120000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 237 NE NE 18 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 238 NW SW 33 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 239 SW NE 08 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 240 SW SE 07 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 241 SE NW 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 242 SE NW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 243 SE SE 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 244 SW SE 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 245 NE SE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 246 SW NE 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 247 SE NW 13 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 248 NE NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 249 NE NW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 250 NE NE 14 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 251 SE NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 252 SW SW 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 253 NW NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 254 NE NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 255 SE NE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 256 SW NW 20 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 257 SE NW 20 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 258 SW SE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 259 SW SE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 260 NW SE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 261 NW SW 09 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 263 SW SE 32 48N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 267 NW NE 23 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 269 SW NW 26 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 271 NE NW 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 272 SE SE 02 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 273 NE NW 12 47N 91W .91098801 .76677372 .00004650
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 7
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
------ ----------------------- --- ----- -------- --------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 274 49043208130000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 275 49043208140000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 276 49043208170000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 277 49043208080000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 278 49043208090000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 279 04043208060000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK UNIT 280 49043208100000 COTTONWOOD CREEK BEPCO PRD
1277602 COTTONWOOD CREEK UNIT - TENSLP
TENSLEEP UNIT 065 49043053000000 COTTONWOOD CREEK BEPCO PRD
TENSLEEP UNIT 110 49043202070000 COTTONWOOD CREEK BEPCO PRD
TENSLEEP UNIT 117 49043202190000 COTTONWOOD CREEK BEPCO PRD
TENSLEEP UNIT 119 49043202310000 COTTONWOOD CREEK BEPCO PRD
1277604 COTTONWOOD CREEK UNIT WELL#189
COTTONWOOD CREEK NPA 189 49043206400000 COTTONWOOD CREEK BEPCO PRD
1277605 COTTONWOOD CREEK UNIT WELL#190
COTTONWOOD CREEK NPA 190 49043206410000 COTTONWOOD CREEK BEPCO PRD
1277606 COTTONWOOD CREEK UNIT WELL #56
COTTONWOOD CREEK NPA 056 49043053510000 COTTONWOOD CREEK BEPCO TA
1277608 COTTONWOOD CREEK UNIT WELL #76
COTTONWOOD CREEK NPA 076 49043052800000 COTTONWOOD CREEK BEPCO TA
1277610 COTTONWOOD CREEK UNIT WELL #85
COTTONWOOD CREEK NPA 085 49043051850000 COTTONWOOD CREEK BEPCO TA
1277611 COTTONWOOD CREEK UNIT WELL#197
COTTONWOOD CREEK NPA 197 49043206440000 COTTONWOOD CREEK BEPCO TA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277601 COTTONWOOD CREEK UNIT - PHOSPH
COTTONWOOD CREEK UNIT 274 SE NE 11 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 275 NE SW 12 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 276 NE NW 24 47N 91W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 277 NW SE 08 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 278 NW SE 17 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 279 NE NW 16 47N 90W .91098801 .76677372 .00004650
COTTONWOOD CREEK UNIT 280 NW NE 16 47N 90W .91098801 .76677372 .00004650
1277602 COTTONWOOD CREEK UNIT - TENSLP
TENSLEEP UNIT 065 NW NE 07 47N 90W 1.00000000 .83746144 .00000000
TENSLEEP UNIT 110 SW NE 07 47N 90W 1.00000000 .83746144 .00000000
TENSLEEP UNIT 117 NW SE 07 47N 90W 1.00000000 .83746144 .00000000
TENSLEEP UNIT 119 NE NW 07 47N 90W 1.00000000 .83746144 .00000000
1277604 COTTONWOOD CREEK UNIT WELL#189
COTTONWOOD CREEK NPA 189 NW SE 07 47N 91W 1.00000000 .82500000 .00000000
1277605 COTTONWOOD CREEK UNIT WELL#190
COTTONWOOD CREEK NPA 190 NW NW 08 47N 91W 1.00000000 .82500000 .00000000
1277606 COTTONWOOD CREEK UNIT WELL #56
COTTONWOOD CREEK NPA 056 NW SW 32 48N 91W .91956760 .80462150 .00000000
1277608 COTTONWOOD CREEK UNIT WELL #76
COTTONWOOD CREEK NPA 076 NW SW 08 47N 91W .92203300 .67747480 .00000000
1277610 COTTONWOOD CREEK UNIT WELL #85
COTTONWOOD CREEK NPA 085 NW NW 27 47N 91W .91328560 .73088980 .00000000
1277611 COTTONWOOD CREEK UNIT WELL#197
COTTONWOOD CREEK NPA 197 NW SE 09 47N 90W 1.00000000 .81500000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 8
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1277613 COTTONWOOD CREEK UNIT - FRONTIER
COTTONWOOD CREEK UNIT 209 49043202580000 COTTONWOOD CREEK UNIT BEPCO TA
1277614 COTTONWOOD CREEK NPA - #109
COTTONWOOD CREEK NPA 109 49043202050000 COTTONWOOD CREEK UNIT BEPCO TA
1277617 COTTONWOOD CREEK UNIT #262
COTTONWOOD CREEK NPA 262 49043207870000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1277613 COTTONWOOD CREEK UNIT - FRONTIER
COTTONWOOD CREEK UNIT 209 NE NW 8 47N 90W .00000000 .00000000 .00000000
1277614 COTTONWOOD CREEK NPA - #109
COTTONWOOD CREEK NPA 109 NW SE 17 47N 91W .91098801 .76677372 .00004650
1277617 COTTONWOOD CREEK UNIT #262
COTTONWOOD CREEK NPA 262 SE SW 05 47N 91W .91000750 .75075619 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 9
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
COTTONWOOD CREEK FIELD EXTENSION (PHOSPHORIA) UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1196001 COTTONWOOD CREEK EXT UNIT
CC EXTENSION UNIT 1-1 49043201540000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 11-1 49043201700000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 14-1 49043201760000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 16-1 49043201410000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 16-1X 49043207230000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 18-1 49043056030000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 19-1 49043201490000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 19-1X 49043206170000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 20-1 49043201500000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 20-1X 49043207240000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 21-1 49043201740000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 22-1 49043201840000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 23-1 49043201860000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 24-1 49043200080000 COTTONWOOD CREEK BEPCO PA
CC EXTENSION UNIT 26-1 49043206280000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 27-1 49043206270000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 28-1 49043206260000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 29-1 49043207920000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 3-1 49043051750000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 30-1 49043208160000 COTTONWOOD CREEK BEPCO PRD
CC EXTENSION UNIT 31-1 49043208220000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1196001 COTTONWOOD CREEK EXT UNIT
CC EXTENSION UNIT 1-1 LOT 5 01 46N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 11-1 NW SE 31 47N 90W .96870790 .81103222 .00061500
CC EXTENSION UNIT 14-1 LOT 14 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 16-1 NW SW 31 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 16-1X LOT 7 31 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 18-1 NE SW 25 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 19-1 LOT 12 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 19-1X LOT 13 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 20-1 LOT 20 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 20-1X LOT 18 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 21-1 SW SW 32 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 22-1 SW NW 32 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 23-1 SW NE 31 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 24-1 NW NE 36 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 26-1 SE SW 25 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 27-1 LOT 12 06 46N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 28-1 SE SW 31 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 29-1 NW SW 25 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 3-1 SW SW 29 47N 90W .96870790 .81103222 .00061900
CC EXTENSION UNIT 30-1 SE SE 26 47N 91W .96870790 .81103222 .00061900
CC EXTENSION UNIT 31-1 LOT 08 31 47N 90W .96870790 .81103222 .00061900
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NO WATER CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252302 NO WATER CREEK UNIT
NO WATER CREEK UNIT 11 49043200970000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 12 49043201100000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 14 49043201330000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 17 49043207640000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 18 49043207930000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 19 49043208260000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 2 49043200280000 NO WATER CREEK BEPCO PA
NO WATER CREEK UNIT 20 49043208250000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 3 49043200450000 NO WATER CREEK BEPCO PA
NO WATER CREEK UNIT 5 49043200530000 NO WATER CREEK BEPCO PRD
NO WATER CREEK UNIT 6 49043200640000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 7 49043200690000 NO WATER CREEK BEPCO TA
NO WATER CREEK UNIT 9 49043200810000 NO WATER CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252302 NO WATER CREEK UNIT
NO WATER CREEK UNIT 11 SW NW 05 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 12 NW SE 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 14 NE SW 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 17 LOT 16 05 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 18 LOT 13 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 19 LOT 11 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 2 LOT 13 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 20 SE NW 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 3 LOT 22 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 5 LOT 16 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 6 LOT 19 06 46N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 7 SW SE 31 47N 91W .94441730 .78727357 .00000000
NO WATER CREEK UNIT 9 LOT 09 05 46N 91W .94441730 .78727357 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
SLICK CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252208 SLICK CREEK UNIT (PHOSPHORIA)
SLICK CREEK H20 INJ #2 49043050020000 SLICK CREEK BEPCO DAI
SLICK CREEK PHOSPHORIA 02 49043050020000 SLICK CREEK BEPCO TA
SLICK CREEK PHOSPHORIA 03 49043051620000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 05 49043051700000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 06 49043051680000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 07 49043051660000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 1 49043051670000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 10 49043201520000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 11 49043201530000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 12 49043201580000 SLICK CREEK BEPCO PA
SLICK CREEK PHOSPHORIA 21 49043210990000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 22 49043202250000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 30 49043205330000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 34-43 49043206530000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 35-31 49043206360000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 4 49043051610000 SLICK CREEK BEPCO PRD
SLICK CREEK PHOSPHORIA 8 49043051640000 SLICK CREEK BEPCO TA
1252209 SLICK CREEK UNIT (FRONTIER)
SLICK CREEK FRONTIER 13 49043201630000 SLICK CREEK BEPCO PA
SLICK CREEK FRONTIER 15 49043201640000 SLICK CREEK BEPCO PRD
SLICK CREEK FRONTIER 19 49043201690000 SLICK CREEK BEPCO PA
SLICK CREEK FRONTIER 20 49043201670000 SLICK CREEK BEPCO PRD
SLICK CREEK FRONTIER 8 49043051640000 SLICK CREEK BEPCO PA
1252210 SLICK CREEK UNIT (MUDDY)
SLICK CREEK MUDDY 06 49043051680000 SLICK CREEK BEPCO PA
SLICK CREEK MUDDY 07 49043051660000 SLICK CREEK BEPCO PA
SLICK CREEK MUDDY 11 49043201530000 SLICK CREEK BEPCO PA
SLICK CREEK MUDDY 16 49043201650000 SLICK CREEK BEPCO PA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252208 SLICK CREEK UNIT (PHOSPHORIA)
SLICK CREEK H20 INJ #2 SE NW 34 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 02 SE NW 34 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 03 LOT 8 02 46N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 05 SE NW 35 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 06 SE NW 33 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 07 NE SE 33 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 1 SE NE 32 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 10 SE SW 35 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 11 SE SE 32 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 12 NE SW 32 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 21 NW NE 02 46N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 22 NE NE 34 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 30 NE SW 33 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 34-43 SE NE 34 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 35-31 NW SE 35 47N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 4 LOT 8 03 46N 92W 1.00000000 .86266071 .00054626
SLICK CREEK PHOSPHORIA 8 SW SE 34 47N 92W 1.00000000 .86266071 .00054626
1252209 SLICK CREEK UNIT (FRONTIER)
SLICK CREEK FRONTIER 13 NW SE 34 47N 92W 1.00000000 .86500050 .00103100
SLICK CREEK FRONTIER 15 LOT 8 02 46N 92W 1.00000000 .86500050 .00103100
SLICK CREEK FRONTIER 19 NW SE 33 47N 92W 1.00000000 .86500050 .00103100
SLICK CREEK FRONTIER 20 NW SW 35 47N 92W 1.00000000 .86500050 .00103100
SLICK CREEK FRONTIER 8 SW SE 34 47N 92W 1.00000000 .86500050 .00103100
1252210 SLICK CREEK UNIT (MUDDY)
SLICK CREEK MUDDY 06 SE NW 33 47N 92W .00000000 .00000000 .00000000
SLICK CREEK MUDDY 07 NE SE 33 47N 92W .00000000 .00000000 .00000000
SLICK CREEK MUDDY 11 SE SE 32 47N 92W .00000000 .00000000 .00000000
SLICK CREEK MUDDY 16 NE SW 32 47N 92W .00000000 .00000000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
SLICK CREEK UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252210 SLICK CREEK UNIT (MUDDY)
SLICK CREEK MUDDY 17 49043201660000 SLICK CREEK BEPCO PA
SLICK CREEK UNIT
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252210 SLICK CREEK UNIT (MUDDY)
SLICK CREEK MUDDY 17 LOT 8 03 46N 92W .00000000 .00000000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 2
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
SOUTH FRISBY UNIT
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252214 SOUTH FRISBY UNIT
SOUTH FRISBY 2 49043202040000 SOUTH FRISBY BEPCO PRD
SOUTH FRISBY 24-33 49043206390000 SOUTH FRISBY BEPCO PRD
SOUTH FRISBY 3 49043202350000 SOUTH FRISBY BEPCO TA
SOUTH FRISBY 4 49043202600000 SOUTH FRISBY BEPCO PA
SOUTH FRISBY 6 49043202950000 SOUTH FRISBY BEPCO PRD
SOUTH FRISBY 7 49043203940000 SOUTH FRISBY BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252214 SOUTH FRISBY UNIT
SOUTH FRISBY 2 NW SE 24 47N 92W 1.00000000 .86004334 .00000000
SOUTH FRISBY 24-33 SE SE 24 47N 92W 1.00000000 .86004334 .00000000
SOUTH FRISBY 3 SE NW 24 47N 92W 1.00000000 .86004334 .00000000
SOUTH FRISBY 4 NE NE 25 47N 92W 1.00000000 .86004334 .00000000
SOUTH FRISBY 6 LOT 9 30 47N 91W 1.00000000 .86004334 .00000000
SOUTH FRISBY 7 SE NW 30 47N 91W 1.00000000 .86004334 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (COOP)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1161201 COTTONWOOD CREEK FEDERAL
COTTONWOOD CREEK 35-1 49043203730000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK 35-44 49043205970000 COTTONWOOD CREEK BEPCO PRD
1161202 COTTONWOOD CREEK STATE
COTTONWOOD CREEK 36-1 49043204090000 COTTONWOOD CREEK BEPCO PRD
COTTONWOOD CREEK 36-24 49043205690000 COTTONWOOD CREEK BEPCO PRD
1161203 COTTONWOOD CREEK FEDERAL #35-2
COTTONWOOD CREEK 35-2 49043204050000 COTTONWOOD CREEK BEPCO PRD
1161204 COTTONWOOD CREEK FEDERAL #35-3
COTTONWOOD CREEK 35-3 49043204020000 COTTONWOOD CREEK BEPCO PRD
1161205 COTTONWOOD CREEK FEDERAL #2-1
COTTONWOOD CREEK 2-1 49043204260000 COTTONWOOD CREEK BEPCO PRD
1161207 COTTONWOOD CREEK FEDERAL #2-34
COTTONWOOD CREEK 2-34 49043204730000 COTTONWOOD CREEK BEPCO PRD
1161212 COTTONWOOD CREEK FEDERAL #26-23
COTTONWOOD CREEK 26-23 49043206250000 COTTONWOOD CREEK BEPCO PRD
1161213 COTTONWOOD CREEK FEDERAL #21-23
COTTONWOOD CREEK 21-23 49043206500000 COTTONWOOD CREEK BEPCO PRD
1161214 COTTONWOOD CREEK FEDERAL #28-41
COTTONWOOD CREEK 28-41 49043206450000 COTTONWOOD CREEK BEPCO TA
1161215 COTTONWOOD CREEK FEDERAL #26-21
COTTONWOOD CREEK 26-21 49043206510000 COTTONWOOD CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1161201 COTTONWOOD CREEK FEDERAL
COTTONWOOD CREEK 35-1 NW NE 35 47N 91W 1.00000000 .81250000 .00000000
COTTONWOOD CREEK 35-44 NE NE 35 47N 91W 1.00000000 .81250000 .00000000
1161202 COTTONWOOD CREEK STATE
COTTONWOOD CREEK 36-1 SW NW 36 47N 91W 1.00000000 .81250000 .00000000
COTTONWOOD CREEK 36-24 NE SW 36 47N 91W 1.00000000 .81250000 .00000000
1161203 COTTONWOOD CREEK FEDERAL #35-2
COTTONWOOD CREEK 35-2 NW NW 35 47N 91W 1.00000000 .81562500 .00000000
1161204 COTTONWOOD CREEK FEDERAL #35-3
COTTONWOOD CREEK 35-3 NW SE 35 47N 91W 1.00000000 .81250000 .00000000
1161205 COTTONWOOD CREEK FEDERAL #2-1
COTTONWOOD CREEK 2-1 LOT 11 2 46N 91W 1.00000000 .81250000 .00000000
1161207 COTTONWOOD CREEK FEDERAL #2-34
COTTONWOOD CREEK 2-34 NE SE 2 46N 91W 1.00000000 .82500000 .00000000
1161212 COTTONWOOD CREEK FEDERAL #26-23
COTTONWOOD CREEK 26-23 SE SW 26 47N 91W 1.00000000 .70312500 .00187500
1161213 COTTONWOOD CREEK FEDERAL #21-23
COTTONWOOD CREEK 21-23 SE SW 21 47N 91W 1.00000000 .80937500 .06562500
1161214 COTTONWOOD CREEK FEDERAL #28-41
COTTONWOOD CREEK 28-41 NW NE 28 47N 91W 1.00000000 .73125000 .01875000
1161215 COTTONWOOD CREEK FEDERAL #26-21
COTTONWOOD CREEK 26-21 NW SW 26 47N 91W 1.00000000 .71290000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (CO-OP)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1161217 KNISLEY FEDERAL #1
KNISELY FEDERAL #1 49043051760000 COTTONWOOD CREEK BEPCO PRD
1252201 EARL SCHRANTZ USA
SCHRANTZ USA 1 49043051730000 COTTONWOOD CREEK BEPCO PRD
SCHRANTZ USA 3 49043200500000 COTTONWOOD CREEK BEPCO PRD
SCHRANTZ USA 4 49043200510000 COTTONWOOD CREEK BEPCO PA
SCHRANTZ USA 5 49043208240000 COTTONWOOD CREEK BEPCO PRD
1252202 TOLMAN USA
TOLMAN USA 2 49043200330000 COTTONWOOD CREEK BEPCO PRD
TOLMAN USA 3 49043200590000 COTTONWOOD CREEK BEPCO PRD
1252203 CALDWELL USA #1-7
CALDWELL USA 1-7 49043203830000 COTTONWOOD CREEK BEPCO PRD
1252204 FAURE USA
USA FAURE 1 49043200430000 RATTLESNAKE BEPCO PRD
USA FAURE 2 49043200570000 RATTLESNAKE BEPCO PA
USA FAURE 4 49043201020000 RATTLESNAKE BEPCO PRD
1252205 FAURE "A" USA
USA FAURE A2-2 49043203840000 RATTLESNAKE BEPCO PRD
1252206 LACOY FEDERAL
LACOY FEDERAL 13-1 49043200770000 RATTLESNAKE BEPCO PRD
1252207 BEARD FEDERAL
BEARD FEDERAL 1 49043201090000 RATTLESNAKE BEPCO PA
1252211 ROME FEDERAL
ROME FEDERAL 1 49043201720000 SLICK CREEK BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1161217 KNISLEY FEDERAL #1
KNISELY FEDERAL #1 NW SE 27 47N 91W 1.00000000 .71500000 .00000000
1252201 EARL SCHRANTZ USA
SCHRANTZ USA 1 NW NE 33 47N 91W 1.00000000 .79375000 .05035164
SCHRANTZ USA 3 SW SE 32 47N 91W 1.00000000 .79375000 .05035164
SCHRANTZ USA 4 SW SW 32 47N 91W 1.00000000 .79375000 .05035164
SCHRANTZ USA 5 NE SW 32 47N 91W 1.00000000 .79375000 .05035164
1252202 TOLMAN USA
TOLMAN USA 2 NW SW 28 47N 91W 1.00000000 .87500000 .00000000
TOLMAN USA 3 NW NW 28 47N 91W 1.00000000 .87500000 .00000000
1252203 CALDWELL USA #1-7
CALDWELL USA 1-7 LO 12 07 47N 91W .55480654 .47179217 .00000000
1252204 FAURE USA
USA FAURE 1 NW NW 11 47N 92W 1.00000000 .82500000 .00000000
USA FAURE 2 NW SE 11 47N 92W 1.00000000 .82500000 .00000000
USA FAURE 4 NW SW 11 47N 92W 1.00000000 .82500000 .00000000
1252205 FAURE "A" USA
USA FAURE A2-2 NE NE 02 47N 92W 1.00000000 .82500000 .00000000
1252206 LACOY FEDERAL
LACOY FEDERAL 13-1 NW NW 13 47N 92W 1.00000000 .82500000 .00000000
1252207 BEARD FEDERAL
BEARD FEDERAL 1 NW NW 12 47N 92W 1.00000000 .84900000 .00000000
1252211 ROME FEDERAL
ROME FEDERAL 1 SE SE 02 46N 92W 1.00000000 .81250000 .06250000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 2
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (CO-OP)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252213 NEIBER II UNIT (TENSLEEP)
NEIBER UNIT II-I 49043202610000 NEIBER DOME BEPCO PRD
1252215 SOUTH FRISBY LACOY FED #5 & #8
SOUTH FRISBY 5 49043202630000 SOUTH FRISBY BEPCO PRD
SOUTH FRISBY 8 49043203950000 SOUTH FRISBY BEPCO PRD
1252217 CALDWELL USA #20
CALDWELL 1-20 49043203960000 COTTONWOOD CREEK BEPCO PRD
CALDWELL 2-20 49043203990000 COTTONWOOD CREEK BEPCO PRD
1252218 SMITH USA #30
SMITH USA 1-30 49043203620000 SOUTH FRISBY BEPCO PRD
1252219 TENNECO FEDERAL #23
TENNECO FEDERAL 1-23 49043204960000 SOUTH FRISBY BEPCO PRD
1252220 COTTONWOOD CREEK FEDERAL #19
COTTONWOOD CREEK FED 19-1 49043203520000 SOUTH FRISBY BEPCO PRD
1252328 NO WATER CREEK #4
NO WATER CREEK 4 49043200540000 NO WATER CREEK BEPCO PA
1252329 NO WATER CREEK #8
NO WATER CREEK 8 49043201180000 NO WATER CREEK BEPCO TA
1252330 NO WATER CREEK #13
NO WATER CREEK 13 49043201230000 NO WATER CREEK BEPCO TA
1252331 NO WATER CREEK #15
NO WATER CREEK 15 49043201290000 NO WATER CREEK BEPCO TA
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252213 NEIBER II UNIT (TENSLEEP)
NEIBER UNIT II-I LOT 15 19 45N 92W .76909143 .67295528 .00000000
1252215 SOUTH FRISBY LACOY FED #5 & #8
SOUTH FRISBY 5 LOT 9 19 47N 91W 1.00000000 .85500000 .00000000
SOUTH FRISBY 8 NE NE 24 47N 92W 1.00000000 .85500000 .00000000
1252217 CALDWELL USA #20
CALDWELL 1-20 SW SW 20 47N 91W 1.00000000 .84000000 .00000000
CALDWELL 2-20 SW NW 20 47N 91W 1.00000000 .84000000 .00000000
1252218 SMITH USA #30
SMITH USA 1-30 NE NE 30 47N 91W 1.00000000 .84750000 .00000000
1252219 TENNECO FEDERAL #23
TENNECO FEDERAL 1-23 SE NE 23 47N 92W 1.00000000 .87500000 .00000000
1252220 COTTONWOOD CREEK FEDERAL #19
COTTONWOOD CREEK FED 19-1 NW SE 19 47N 91W 1.00000000 .85250000 .00000000
1252328 NO WATER CREEK #4
NO WATER CREEK 4 LOT 9 31 47N 91W 1.00000000 .82500000 .00000000
1252329 NO WATER CREEK #8
NO WATER CREEK 8 SW NE 31 47N 91W 1.00000000 .82500000 .00000000
252330 NO WATER CREEK #13
NO WATER CREEK 13 LOT 11 05 46N 91W 1.00000000 .84500000 .00000000
1252331 NO WATER CREEK #15
NO WATER CREEK 15 SW NE 05 46N 91W 1.00000000 .84500000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 3
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (CO-OP)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1305001 CHAMBERS STATE
CHAMBERS STATE #1-36 49043203040000 RATTLESNAKE BEPCO PRD
CHAMBERS STATE #2-36 49043203140000 RATTLESNAKE BEPCO PRD
CHAMBERS STATE #3-36 49043203210000 RATTLESNAKE BEPCO PA
CHAMBERS STATE #4-36 49043207940000 RATTLESNAKE BEPCO PRD
CHAMBERS STATE #5-36 49043208200000 RATTLESNAKE BEPCO PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1305001 CHAMBERS STATE
CHAMBERS STATE #1-36 SW SW 36 48N 92W 1.00000000 .84500000 .00000000
CHAMBERS STATE #2-36 SW SE 36 48N 92W 1.00000000 .84500000 .00000000
CHAMBERS STATE #3-36 SW NW 36 48N 92W 1.00000000 .84500000 .00000000
CHAMBERS STATE #4-36 NE SW 36 48N 92W 1.00000000 .84500000 .00000000
CHAMBERS STATE #5-36 SW NE 36 48N 92W 1.00000000 .84500000 .00000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 4
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (OSO)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252303 COSEKA FEDERAL #18-3 & #18-4
ALTUS GOVERNMENT 18-3 49043203460000 COTTONWOOD CREEK WAGNER & BROWN, LTD. PRD
ALTUS GOVERNMENT 18-4 49043205420000 COTTONWOOD CREEK WAGNER & BROWN, LTD. PRD
1252304 GOVERNMENT 29-1
GOVERNMENT 29-1 49043202960000 COTTONWOOD CREEK SAMSON RESOURCES CORP PA
1252305 COSEKA FEDERAL #13-1, 2 & 3
ALTUS GOVERNMENT 13-1 49043203310000 COTTONWOOD CREEK WAGNER & BROWN, LTD. SI
ALTUS GOVERNMENT 13-2 49043203470000 COTTONWOOD CREEK WAGNER & BROWN, LTD. SI
ALTUS GOVERNMENT 13-3 49043205560000 COTTONWOOD CREEK WAGNER & BROWN, LTD. SI
1252306 COSEKA FEDERAL #18-1 & #18-5
ALTUS GOVERNMENT 18-1 49043203200000 COTTONWOOD CREEK WAGNER & BROWN, LTD. PRD
ALTUS GOVERNMENT 18-5 49043205740000 COTTONWOOD CREEK WAGNER & BROWN, LTD. PRD
1252307 BRENT FEDERAL #2 & #3 FED #32-1
BRENT FEDERAL 2 49043203920000 COTTONWOOD CREEK BRENT EXPLORATION, INC. SI
BRENT FEDERAL 3 49043203930000 COTTONWOOD CREEK BRENT EXPLORATION, INC. SI
FEDERAL 32-1 49043205090000 COTTONWOOD CREEK BRENT EXPLORATION, INC. SI
1252308 MARTIN FEDERAL #29-2
MARTIN FEDERAL 29-2 49043203300000 COTTONWOOD CREEK SAMSON RESOURCES CORP PRD
1252309 GOVERNMENT #14-2
GOVERNMENT #14-2 49043202920000 RATTLESNAKE SAMSON RESOURCES CORP SI
1252310 TENNECO GOVERNMENT #1-1 & 1-2
TENNECO GOVERNMENT 1-2 49043202940000 COTTONWOOD CREEK SAMSON RESOURCES CORP SI
1252311 GOVERNMENT #27-1
GOVERNMENT 27-1 49043202810000 COTTONWOOD CREEK MARKUS PRODUCTION, INC. PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252303 COSEKA FEDERAL #18-3 & #18-4
ALTUS GOVERNMENT 18-3 SE NW 18 47N 91W .00000000 .00000000 .09000000
ALTUS GOVERNMENT 18-4 NW NW 18 47N 91W .00000000 .00000000 .09000000
1252304 GOVERNMENT 29-1
GOVERNMENT 29-1 SW SW 29 47N 91W .00000000 .00000000 .00000000
1252305 COSEKA FEDERAL #13-1, 2 & 3
ALTUS GOVERNMENT 13-1 NE NE 13 47N 92W .00000000 .00000000 .09500000
ALTUS GOVERNMENT 13-2 NE SE 13 47N 92W .00000000 .00000000 .09500000
ALTUS GOVERNMENT 13-3 NW NE 13 47N 92W .00000000 .00000000 .09500000
1252306 COSEKA FEDERAL #18-1 & #18-5
ALTUS GOVERNMENT 18-1 Lot 12 18 47N 91W .00000000 .00000000 .08874760
ALTUS GOVERNMENT 18-5 NE SW 18 47N 91W .00000000 .00000000 .08874760
1252307 BRENT FEDERAL #2 & #3 FED #32-1
BRENT FEDERAL 2 SW NE 32 47N 91W .00000000 .00000000 .09472400
BRENT FEDERAL 3 SW NW 33 47N 91W .00000000 .00000000 .09472400
FEDERAL 32-1 NE NE 32 47N 91W .00000000 .00000000 .09472400
1252308 MARTIN FEDERAL #29-2
MARTIN FEDERAL 29-2 SW NW 29 47N 91W .04848480 .03636360 .09000000
1252309 GOVERNMENT #14-2
GOVERNMENT #14-2 NW NW 14 47N 92W .00000000 .00000000 .06250000
1252310 TENNECO GOVERNMENT #1-1 & 1-2
TENNECO GOVERNMENT 1-2 SW NW 01 47N 92W .00000000 .00000000 .01875000
1252311 GOVERNMENT #27-1
GOVERNMENT 27-1 SW SW 27 47N 92W .26666640 .19999980 .08500000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 1
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (OSO)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252313 BRENT FEDERAL #11-1
BRENT FEDERAL 11-1 49043204440000 COTTONWOOD CREEK WASHAKIE ENERGIES CO. LT PRD
1252314 BRENT FEDERAL #16-1
BRENT FEDERAL 16-1 49043204480000 COTTONWOOD CREEK WASHAKIE ENERGIES CO. LT PRD
1252316 SCHETTERLY #1-30
ALTUS SCHETTERLY 1-30 49043203630000 SOUTH FRISBY BRENT EXPLORATION, INC. PRD
1252317 BRENT FEDERAL #3-25
BRENT FEDERAL 3-25 49043204330000 SOUTH FRISBY BRENT EXPLORATION, INC. PRD
1252318 BRENT FEDERAL 13-24
BRENT FEDERAL 13-24 49043204600000 FRISBY SOUTH BRENT EXPLORATION, INC. PRD
1252319 BRENT FEDERAL 25-7
BRENT FEDERAL 25-7 49043205360000 FRISBY SOUTH ANDERSON MYERS PA
1252320 TENNECO USA #1
TENNECO USA 1 49043205910000 COTTONWOOD CREEK CAROL-HOLLY OIL CORP. PRD
1252321 GOVERNMENT #25-1
GOVERNMENT 25-1 49043202990000 SOUTH FORK MARKUS PRODUCTION, INC. PRD
1252322 GOVERNMENT #36-1
GOVERNMENT 36-1 49043202890000 COTTONWOOD CREEK MARKUS PRODUCTION, INC. SI
1252324 TENNECO USA 2
TENNECO USA 2 49043206080000 COTTONWOOD CREEK WYOMING RESOURCES PA
1252325 TENNECO USA #3
TENNECO USA 3 49043206230000 COTTONWOOD CREEK CAROL-HOLLY OIL CORP. PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252313 BRENT FEDERAL #11-1
BRENT FEDERAL 11-1 NE SW 01 46N 92W .00000000 .00000000 .05000000
1252314 BRENT FEDERAL #16-1
BRENT FEDERAL 16-1 SE SE 01 46N 92W .00000000 .00000000 .05000000
1252316 SCHETTERLY #1-30
ALTUS SATTTERLY 1-30 NE SE 30 47N 91W .00000000 .00000000 .06500000
1252317 BRENT FEDERAL #3-25
BRENT FEDERAL 3-25 NE NW 25 47N 92W .00000000 .00000000 .05000000
1252318 BRENT FEDERAL 13-24
BRENT FEDERAL 13-24 SW SW 24 47N 92W .00000000 .00000000 .05000000
1252319 BRENT FEDERAL 25-7
BRENT FEDERAL 25-7 SW NE 25 47N 92W .00000000 .00000000 .00000000
1252320 TENNECO USA #1
TENNECO USA 1 SW SE 25 47N 92W .00000000 .00000000 .10000000
1252321 GOVERNMENT #25-1
GOVERNMENT 25-1 SE NW 25 46N 92W .00000000 .00000000 .12500000
1252322 GOVERNMENT #36-1
GOVERNMENT 36-1 NE NE 36 47N 92W .26666640 .19999980 .03750000
1252324 TENNECO USA 2
TENNECO USA 2 SE SW 28 47N 91W .00000000 .00000000 .00000000
1252325 TENNECO USA #3
TENNECO USA 3 SE NW 28 47N 91W .12500000 .11312500 .05000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 2
EXHIBIT B PURCHASE AND SALE AGREEMENT DATED _________________ , 1998
NON-UNITIZED ASSETS (OSO)
STATUS
PP NO. PROPERTY NAME/WELL NAME API FIELD OPERATOR 01/01/98
- ------ ----------------------- --- ----- -------- --------
1252327 RATTLESNAKE USA #4
RATTLESNAKE 4 49043206330000 COTTONWOOD CREEK CAROL-HOLLY OIL CORP. SI
1252332 BRENT FEDERAL #1
BRENT FEDERAL #1 49043203910000 COTTONWOOD CREEK BRENT EXPLORATION CO SI
1252333 HONEY BUTTE FEDERAL #3
HONEY BUTTE FEDERAL #3 49043203390000 RATTLESNAKE HANSON OPERATING COMPANY PRD
1252334 GOVERNMENT #14-1
GOVERNMENT 14-1 49043201140000 RATTLESNAKE MARKUS PRODUCTION, INC. SI
1252335 TENNECO GOVERNMENT #1-3
TENNECO GOVERNMENT 1-3 49043203030000 COTTONWOOD CREEK SAMSON RESOURCES CORP PRD
1252336 TENNECO GOVERNMENT #1-4
TENNECO GOVERNMENT 1-4 49043203010000 COTTONWOOD CREEK SAMSON RESOURCES CORP PRD
1252337 GOVERNMENT #28-1
GOVERNMENT 28-1 49043202970000 COTTONWOOD CREEK MARKUS PRODUCTION, INC. SI
1252338 GOVERNMENT #36-2
GOVERNMENT 36-2 49043203050000 COTTONWOOD CREEK MARKUS PRODUCTION, INC. SI
1256101 BASS FEDERAL 33-24 #1H
#1 H BASS FEDERAL 33-24 49043207100000 MARSHALL UNION PACIFIC RESOURCES PRD
1288501 SAGEBUSH FEDERAL #13-25
SAGEBUSH FED #13-25 49003208230000 SAGEBUSH ALV COMPANY PRD
1288502 SAGEBUSH FEDERAL #32-26
SAGEBUSH #32-26 49003208270000 SAGEBUSH ALV COMPANY PRD
PP NO. PROPERTY NAME/WELL NAME LOCATION WI NRI(1) ORI(2)
- ------ ----------------------- -------- -- ------ ------
1252327 RATTLESNAKE USA #4
RATTLESNAKE 4 SE NW 11 47N 92W .05000000 .04245000 .00000000
1252332 BRENT FEDERAL #1
BRENT FEDERAL #1 NE NW 31 47N 91W .00000000 .00000000 .09000000
1252333 HONEY BUTTE FEDERAL #3
HONEY BUTTE FEDERAL #3 SW SE 16 47N 91W .10000000 .08350000 .00000000
1252334 GOVERNMENT #14-1
GOVERNMENT 14-1 NW NE 14 47N 92W .26666640 .19999978 .06250000
1252335 TENNECO GOVERNMENT #1-3
TENNECO GOVERNMENT 1-3 SW NE 01 47N 92W .25291700 .18652630 .01875000
1252336 TENNECO GOVERNMENT #1-4
TENNECO GOVERNMENT 1-4 SW SE 01 47N 92W .22736810 .16768400 .01875000
1252337 GOVERNMENT #28-1
GOVERNMENT 28-1 SW SE 28 47N 92W .04848480 .03636360 .08500000
1252338 GOVERNMENT #36-2
GOVERNMENT 36-2 NE NW 36 47N 92W .22736810 .17052610 .03750000
1256101 BASS FEDERAL 33-24 #1H
#1 H BASS FEDERAL 33-24 SW SE 24 48N 92W .00000000 .00000000 .03187499
1288501 SAGEBUSH FEDERAL #13-25
SAGEBUSH FED #13-25 NW SW 25 51N 92W .00000000 .00000000 .00830000
1288502 SAGEBUSH FEDERAL #32-26
SAGEBUSH #32-26 SW NE 26 51N 92W .00000000 .00000000 .04000000
(1) Does not reflect reduced federal royalty rate, if applicable, on oil
production.
(2) May be subject to sliding scale/contractual adjustment/calculation.
Page: 3
EXHIBIT "D"
52N/94W 44N/91W
52N/93W 44N/90W
52N/92W 43N/94W
52N/91W 43N/93W
52N/90W 43N/92W
51N/94W 43N/91W
51N/93W 43N/90W
51N/92W
51N/91W
51N/90W
50N/94W
50N/93W
50N/92W
50N/91W
50N/90W
49N/94W
49N/93W
49N/92W
49N/91W
49N/90W
48N/94W
48N/93W
48N/92.5W
48N/92W
48N/91W
48N/90W
47N/94W
47N/93W
47N/92.5W
47N/92W
47N/91W
47N/90W
46N/94W
46N/93W
46N/92W
46N/91W
46N/90W
45N/94W
45N/93W
45N/92W
45N/91W
45N/90W
44N/94W
44N/93W
44N/92W
EXHIBIT E
ASSIGNMENT AND BILL OF SALE
KNOW ALL MEN BY THE PRESENTS:
This Assignment and Bill of Sale ("Assignment") is made and entered into
this _____ day of July, 1998 by and between CONTINENTAL RESOURCES, INC.,
whose address is P.O. Box 1032, Enid, OK 73702, hereinafter referred to as
"Assignor" and HAROLD G. HAMM, AS TRUSTEE OF THE HAROLD G. HAMM REVOCABLE
INTERVIVOS TRUST DATED APRIL 23, 1984, whose address is P.O. Box 1032, Enid,
OK 73702, hereinafter referred to as "Assignee".
Assignor, in and for Ten Dollars ($10.00) and other good and valuable
consideration, the receipt of which is hereby acknowledged, does hereby
grant, bargain, sell, assign and convey unto Assignee, an undivided fifty
percent (50%) of all Assignor's right, title and interest in and to the
following:
(1) All oil & gas leases, overriding royalty interests, mineral and
royalty interests, easements and rights-of-way, contractual rights and
interests, together with all rights and interests appurtenant thereto or used
or obtained in connection therewith which were acquired by Assignor pursuant
to each of the Assignment and Bill of Sale documents described on the Exhibit
"A" attached hereto, insofar as such interests relate to the lands described
on the Exhibit "B" attached hereto;
(2) All oil and gas wells and interests therein, together with all
materials, supplies, machinery, equipment, improvements and other personal
property and fixtures located thereon, associated therewith or appurtenant
thereto that were acquired by Assignor pursuant to each of the Assignment and
Bill of Sale documents described on the Exhibit "A" attached hereto. Such
wells are described on Exhibit "C" hereto
It is Assignor's intent by this Assignment to convey unto Assignee an
undivided fifty percent (50%) of all interests of whatsoever nature which
Assignor acquired pursuant to the Assignment and Bill of Sale documents
described on the Exhibit "A" attached hereto, to be effective as of the same
time which Assignor received the interests pursuant to such documents, same
as if Assignee had been a party thereto.
The interest conveyed hereby shall bear it's proportionate part of all
royalty interests, overriding royalty interests, production payments and
other burdens relating to the interests hereby conveyed. Assignee agrees to
assume it's proportionate part of all obligations associated with the
interests hereby conveyed and be bound and abide by all contracts, agreements
and governmental rules and regulations associated with such interests.
The conveyance made by this Assignment is effective June 1, 1998 at 7:00
a.m., Mountain Standard Time.
The terms and provisions of this Assignment shall be binding upon and
inure to the benefit of the parties hereto together with their respective
heirs, successors and assigns.
This Assignment is made and delivered to Assignee without warranty of
title, express or implied.
This Assignment is made subject to the terms and provisions of that
certain Worland Area Purchase and Sale Agreement dated June 25, 1998 between
Assignor and Assignee.
IN WITNESS WHEREOF, this Assignment is executed this ______ day of July,
1998.
CONTINENTAL RESOURCES, INC.
By: ____________________________
Tom Luttrell
Vice President - Land
STATE OF OKLAHOMA )
)
COUNTY OF GARFIELD )
Before me, the undersigned Notary Public in and for said County and
State, on this ____ day of July, 1998 personally appeared Tom Luttrell who
executed the foregoing document as Vice-President-Land for Continental
Resources, Inc., an Oklahoma Corporation, who acknowledged to me that he
executed same as his free and voluntary act and deed on behalf of said
Corporation.
My commission expires:
- ------------------------------- -------------------------------
Notary Public
2
EXHIBIT "D"
52N/94W 44N/91W
52N/93W 44N/90W
52N/92W 43N/94W
52N/91W 43N/93W
52N/90W 43N/92W
51N/94W 43N/91W
51N/93W 43N/90W
51N/92W
51N/91W
51N/90W
50N/94W
50N/93W
50N/92W
50N/91W
50N/90W
49N/94W
49N/93W
49N/92W
49N/91W
49N/90W
48N/94W
48N/93W
48N/92.5W
48N/92W
48N/91W
48N/90W
47N/94W
47N/93W
47N/92.5W
47N/92W
47N/91W
47N/90W
46N/94W
46N/93W
46N/92W
46N/91W
46N/90W
45N/94W
45N/93W
45N/92W
45N/91W
45N/90W
44N/94W
44N/93W
44N/92W