Exhibit 10.1

PARTICIPATION AGREEMENT
[REDACTED]

This Participation Agreement (“Agreement”) is entered into and made effective
the 1st day of August, 2008 (“Effective Date”) by and among LLOG Exploration
Offshore, Inc. (“LLOG”), whose mailing address is 11700 Old Katy Road, Suite
295, Houston, Texas 77079, Mariner Energy, Inc. (“MEI”), whose mailing address
is 2000 W. Sam Houston Parkway South, Suite 2000, Houston, Texas 77042-3622,
Ridgewood Energy Corporation (“Ridgewood”), whose mailing addresses of 11700
Katy Freeway, Suite 280, Houston, Texas 77079, and Stone Energy Corporation
(“Stone”), whose mailing address is 625 East Kaliste Saloom Road, Lafayette,
Louisiana 70508, with LLOG, MEI, Ridgewood and Stone being herein referred to
collectively as “Parties” and individually as a “Party”.

WITNESSETH

WHEREAS, [REDACTED] are the record title interest owners of OCS Oil and Gas
lease bearing [REDACTED], acquired at OCS Lease Sale [REDACTED], having an
effective date of March 1, 2008 (“[REDACTED”), such lease hereinafter referred
to as the “Lease”; and

WHEREAS, [REDACTED] are the record title interest owners of OCS Oil and Gas
Lease bearing [REDACTED], acquired at OCS Lease Sale [REDACTED], having an
effective date of December 1, 2002 (“[REDACTED”), such lease hereinafter
referred to as the “[REDACTED Lease”; and

WHEREAS, pursuant to that certain letter dated July 8, 2008 (the “Offer
Letter”), from Ridgewood and conditionally accepted by LLOG on July 11, 2008,
LLOG and Ridgewood agreed to certain of the terms and conditions under which
Ridgewood may participate in the Lease and [REDACTED] Lease, and the initial
exploratory well to be drilled into [REDACTED]; and

WHEREAS, MEI and LLOG have agreed that the interest in [REDACTED] being acquired
by Ridgewood will be made up of a 5.0% interest from MEI and a 20.0% interest
from LLOG; and

WHEREAS, Stone desires to participate for an undivided 10% interest in the Lease
and the [REDACTED] Lease, as well as the IEW (as hereinafter defined), and for
which MEI and LLOG have agreed that the interest to be acquired by Stone in
[REDACTED] shall be made up of a 5.0% interest from MEI and a 5.0% interest from
LLOG.

NOW, THEREFORE, for and in consideration of the sum of Ten Dollars ($10.00) and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged and confessed, together with the mutual covenants,
conditions, and obligations contained herein, LLOG, MEI, Ridgewood and Stone
agree to the following terms and conditions:

 

 

 

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ARTICLE I
DEFINITIONS

Capitalized terms used in this Agreement and not defined in Articles 1.1 through
1.11 below, shall have the meanings ascribed to them elsewhere in this Agreement
or in the Exhibits attached hereto.

1.1      AFE: shall mean the combination of the Authorization for Expenditures
for the IEW, a copy of which are attached hereto as Exhibit “A-1” and Exhibit
“A-2”.

1.2      Casing Point: shall mean that point in time when the IEW or its
Substitute Well(s) has been drilled to Objective Depth and the partner approved
open hole logs and tests have been conducted as planned pursuant to the AFE and
Well Plan, and a proposal for a subsequent operation in the IEW has been
tendered to all Parties in the IEW;.

1.3      Contract Area: shall [REDACTED] Offshore Louisiana.

1.4      Cumulative Cost Point: shall mean the point in time at which the
aggregate cumulative actual cost incurred after the Effective Date with respect
to the preparation for, drilling, logging and testing, the IEW, and Substitute
Well(s), if any, has reached $41,010,503.00.

1.5      Initial Exploratory Well or IEW: shall mean [REDACTED] Well to be
drilled to the Objective Depth at the location within the Contract Area
specified in Article 3.1.

1.6      Objective Depth: shall mean 17,370 feet measured depth, 15,100 feet
true vertical depth, or to a depth sufficient to test the 12,800’ sands and the
14,800’ sands, whichever is the shallower.

1.7      Operating Agreement: shall mean the [REDACTED] Operating Agreement a
copy of which is attached hereto as Exhibit “B” between MEI, as operator, and
LLOG, as non-operator, dated effective March 1, 2008, to be ratified by
Ridgewood and Stone as a non-operators effective as of the Effective Date.

1.8      Promote End Date: shall mean either Casing Point or the Cumulative Cost
Point, whichever occurs first.

1.9      Well Plan: shall mean the Well Plan for the IEW comprised of Exhibits
“A-3”, “A-4” and “A-5” attached hereto.

 

 

 

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Article II
EXHIBITS

The following Exhibits are attached hereto and made a part of this Agreement:

 

 

 

 

Exhibit “A-1”

Authority for Expenditure (Drilling AFE)

 

Exhibit “A-2”

Authority for Expenditure (Tubular AFE)

 

Exhibit “A-3”

Well Schematic for [REDACTED] #1 Well

 

Exhibit “A-4”

Directional Survey for [REDACTED] #1 Well

 

Exhibit “A-5”

Days v. Depth Chart for [REDACTED] #1 Well

 

Exhibit “B”

Operating Agreement

 

Exhibit “C-1”

Geologic and Data Information Requirements of Ridgewood

 

Exhibit “C-2”

Geologic and Data Information Requirements of Stone

 

Exhibit “D-1”

Form of Assignment of Record Title Interest

 

Exhibit “D-2”

Form of Assignment of Operating Rights

 

Exhibit “E”

Overriding Royalty Interest Burdens

Article III
IEW Participation

          3.1      On or before December 31, 2008 (the “Obligation Date”), MEI
as operator under the Operating Agreement, shall (i) commence or cause to be
commenced the drilling of the IEW at a location that is [REDACTED] and (ii)
subject to Article 3.2, drill the IEW to the Objective Depth in accordance with
the AFE and Well Plan. Ridgewood and Stone, having reviewed the Well Plan and
AFE with all particulars (i.e. casing program, mud system, logging/evaluation
program, and TD criteria), hereby acknowledge their agreement with the IEW well
design, including but not limited to, well location (surface and bottom-hole)
and the projected penetration point into the objective interval and do hereby
approve such Well Plan and AFE for the IEW. In the event operations aren’t
commenced on or before the Obligation Date, then Ridgewood and/or Stone may
terminate its respective participation in the IEW and this Agreement by
notifying MEI and LLOG in writing within ten (days) of the termination of the
Obligation Date. In the event Ridgewood or Stone elect to terminate its
participation, such party will re-assign its interest previously assigned and
MEI and LLOG will promptly reimburse the assigning party for all sums previously
paid by such party pursuant to Article 5.1.

          Ridgewood commits to participate with a 25.00% working interest in the
IEW (and any Substitute Well in which Ridgewood participates) and Contract Area
and agrees to bear and pay 33.3333% of the costs and expenses of the IEW (and
any Substitute Well in which Ridgewood participates) incurred prior to the
Promote End Date. Stone commits to participate with a 10.00% working interest in
the IEW (and any Substitute Well in which Stone participates) and Contract Area
and agrees to bear and pay 13.3333% of the costs and expenses of the IEW (and
any Substitute Well in which Stone participates) incurred prior to the Promote
End Date. MEI will pay 36.6667% and LLOG will pay 16.6667% of the costs and
expenses of the IEW (and any Substitute Well in which Ridgewood and Stone
participate) incurred prior to the Promote End Date.

 

 

 

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After the Promote End Date, and subject to election rights under the Operating
Agreement, Ridgewood’s cost bearing percentage (and ownership percentage) shall
be 25.00% of all subsequent costs incurred in the IEW or any Substitute Well,
and all subsequent operations on the Contract Area as to which Ridgewood is a
participating party under the Operating Agreement. After the Promote End Date,
and subject to election rights under the Operating Agreement, Stone’s cost
bearing percentage (and ownership percentage) shall be 10.00% of all subsequent
costs incurred in the IEW or any Substitute Well, and all subsequent operations
on the Contract Area as to which Stone is a participating party under the
Operating Agreement. After the Promote End Date, and subject to election rights
under the Operating Agreement, MEI’s and LLOG’s cost bearing percentages (and
ownership percentages) shall be 40% and 25%, respectively.

          3.2      In the event in the drilling of the IEW (or any Substitute
Well) there should be encountered rock salt, heaving shale, excessive water
flow, excessive pressure, igneous or other impenetrable formation or conditions
which would render impracticable and preclude drilling the IEW (or any
Substitute Well) to the Objective Depth, then and in such event any party to the
Operating Agreement described in Article IV below may propose within ninety (90)
days following rig release for such well the drilling of a substitute well
(“Substitute Well”) provided same is drilled to the same objective zone or zones
as the IEW. If the Promote End Date has not occurred, a Substitute Well is
proposed under the Operating Agreement and Ridgewood and / or Stone are
participating parties, this Participation Agreement shall remain in full force
and effect as though the Substitute Well was the IEW, as to the participating
parties; provided all costs with respect to the IEW and any Substitute Well will
be added together to calculate the Cumulative Cost Point for purposes of
determining when Ridgewood’s and Stone’s cost-bearing interests reduce as
provided in Article 3.1. If the Promote End Date has not occurred, and a.) the
IEW has not reached Objective Depth and b.) a Substitute Well is proposed,
approved, timely commenced under the Operating Agreement and Ridgewood and/or
Stone are not a participating party(ies), this Participation Agreement shall
terminate as to such non-participating party(ies), subject however to the
provisions of Article VIII, and such non-participating party(ies) shall reassign
to MEI and LLOG any interests previously assigned to such non-participating
party(ies) pursuant to Article 5.2. Notwithstanding the above, if the Promote
End Date has not occurred, and a.) the IEW has not reached Objective Depth and
b.) a Substitute Well is proposed, approved, timely commenced under the
Operating Agreement and Ridgewood and/or Stone are not a participating
party(ies), such non-participating party(ies) shall have the option to tender to
Mariner and LLOG a cash payment equal to such party’s proportionate share (for
Ridgewood 33.3333% and for Stone 13.3333%) of the difference between cumulative
costs incurred in the IEW and $41,010,503.00, and such payment shall entitle
such non-participating party to retain operating rights from the surface to 100’
below the stratigraphic equivalent of the deepest producible interval
encountered in the IEW in which it was a participating party. The provisions of
this Article 3.2 shall apply to each successive Substitute Well, if any.

 

 

 

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Article IV
Operating Agreement

          4.1      All operations on the Contract Area shall be governed by the
Operating Agreement attached hereto as Exhibit “B,” and by its signing of this
Agreement, each of Ridgewood and Stone do hereby ratify and confirm the
Operating Agreement effective as of the Effective Date. The Parties to the
Operating Agreement may, by agreement amongst them, amend the Operating
Agreement from time to time. The Parties agree that all provisions of the
Operating Agreement shall apply to all operations conducted after the Effective
Date within the Contract Area, except as otherwise provided in this Agreement.
Should any conflict or inconsistency exist between the Operating Agreement and
this Agreement as to the matters addressed herein, or in the event this
Agreement addresses matters not included in the Operating Agreement, this
Agreement shall prevail.

          4.2      MEI shall provide Ridgewood and Stone with any and all raw
well data and information obtained and/or results of analyses performed through
the conduct of the drilling and completion of any wells by MEI on the Contract
Area in which Ridgewood and Stone are participants, as further provided for in
Exhibits “C-1” and “C-2”, and any additional data and/or information which
Ridgewood and Stone may be entitled to receive pursuant to the terms of the
Operating Agreement. All data delivered to Ridgewood and Stone as provided in
this Article 4.2 shall be delivered to Ridgewood and Stone pursuant to the
Operating Agreement.

Article V
Reimbursement of Sunk Land Costs, Assignment of Leases and AMI

          5.1      Within five (5) business days of Ridgewood’s execution of
this Participation Agreement, Ridgewood agrees to pay MEI $352,736.00 and LLOG
$1,401,933.00, which represents twenty percent (25%) of the Lease bonus, rental
and geological and geophysical costs incurred by MEI and LLOG prior to the
Effective Date. Within five (5) business days of Stone’s execution of this
Participation Agreement, Stone agrees to pay MEI $352,736.00 and LLOG
$352,736.00, which represents ten percent (10%) of the Lease bonus, rental and
geological and geophysical costs incurred by MEI and LLOG prior to the Effective
Date.

 

 

 

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          5.2      Within ten (10) business days of the receipt by MEI and LLOG
of Ridgewood’s and Stone’s payment as set forth in Article 5.1 above, (i) MEI
and LLOG shall execute and deliver or cause to be executed and delivered to
Ridgewood an assignment of an undivided twenty-five percent (25%) record title
interest in the Lease (consisting of a 5% interest from MEI and a 20% interest
from LLOG) and to Stone an assignment of an undivided ten percent (10%) record
title interest in the Lease (consisting of a 5% interest from MEI and a 5%
interest from LLOG), and (ii) LLOG shall execute and deliver to MEI, Ridgewood
and Stone (to each in the undivided interest set forth below) a term assignment
of operating rights in the [REDACTED] Lease [REDACTED] covering the [REDACTED],
limited to depths and zones 100’ below the base of LLOG’s current production in
[REDACTED], or 6,000’ SS TVD, whichever is the deeper. The term assignment of
operating rights in the [REDACTED] Lease shall contain a reassignment obligation
in favor of LLOG in the event a producible well is not drilled on the [REDACTED]
Lease prior to December 1, 2016. As a result of the assignments delivered
pursuant to this Agreement, the ownership of the Lease and [REDACTED] Lease
shall be as follows:

 

 

Lease Ownership

 

MEI

40%

LLOG

25%

Ridgewood

25%

Stone

10%

 

 

[REDCTED] Lease Ownership

 

MEI

38.00%

LLOG

23.75%

Ridgewood

23.75%

Stone

  9.50%

Andromeda

  5.00%

          The form of assignments shall be similar to the form of assignments
attached hereto as Exhibit “D-1” and “D-2”. Ridgewood and Stone shall each bear
its proportionate share of the Lessor’s royalty and its proportionate share of
an aggregate 2.0% of 6/6ths overriding royalty interest burdening each of the
Lease and the [REDACTED] Lease, with such Lessor’s royalty and overriding
royalty interest burdens being more fully reflected on Exhibit “E” attached
hereto.

          5.3      Any assignment(s) delivered by MEI and LLOG pursuant to this
Agreement shall be delivered without warranty of title, whether express or
implied, except as to persons lawfully claiming by, through or under MEI and
LLOG, respectively, as the case may be, but not otherwise, and shall be free and
clear of all burdens or other encumbrances on the leasehold, except for a
proportionate share of the lessor’s royalty and the overriding royalty interest
burdens and those existing or reserved burdens as expressly set forth herein on
Exhibit “E”. Further, any such assignment(s) delivered pursuant to this
Agreement shall be subject to the terms of this Agreement and the Operating
Agreement.

          5.4      The assignment(s) executed pursuant to this Agreement require
approval by the Minerals Management Service (“MMS”). The assignee under any
assignment(s) executed pursuant to this Agreement shall promptly (i) file of
record any assignment in the appropriate governmental records and (ii) file for
approval with the MMS (or other applicable governmental agencies) all assignment
documents for the assigned interest. Should approval of the MMS (or any other
similar governmental agency having jurisdiction) be denied, the Party receiving
notice of such denial agrees to provide the other Party with written notice of
such occurrence, along with a copy of all associated written communications, and
the Parties agree to develop a revised form of assignment in an effort to meet
the MMS’ or other appropriate agency’s requirements for approval. In the
alternative, each Party shall execute and deliver, or cause to be executed and
delivered, such other documents and take such other actions as a Party may
reasonably request in an effort to comply with any such approval requirements.
Ridgewood and Stone shall each execute the necessary “Designation of Operator”
form (MMS Form 1123) designating MEI as the operator of the Lease and as
designated applicant for oil spill financial responsibility for the Lease, along
with any other documents required to allow MEI to serve as operator of the
Lease. MEI, Ridgewood and Stone shall each execute the necessary “Designation of
Operator” form (MMS Form 1123) designating LLOG as the operator of the
[REDACTED] Lease and as the designated applicant for oil spill financial
responsibility for the [REDACTED] Lease, along with any other documents required
to allow LLOG to serve as operator of the [REDACTED] Lease.

 

 

 

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          5.5      Any Party’s rights and obligations hereunder may be assigned
to a willing and financially and otherwise able party subject to the terms and
conditions hereof and of the Operating Agreement. This Agreement shall be
binding upon and inure to the benefit of the Parties and their respective heirs,
successors, representatives and permitted assigns and shall constitute a
covenant running with each of the leases comprising the Contract Area.

          5.6      Should any Party, individually or jointly with others (the
“Acquiring Party”), acquire an interest in the [REDACTED] (the “AMI”), then the
Acquiring Party shall, within thirty (30) days following the execution of a
definitive agreement, give written notice thereof to the other Parties, which
notice shall include a full description of the particulars of the acquisition,
including the nature, amount and proportion of the interest involved, and the
cost, terms and conditions upon which it was acquired or is proposed to be
acquired. The other Parties shall then have the right and option, but not the
obligation, for a period of thirty (30) days from the receipt of such notice, to
elect to acquire its prorata share (based on ownership in the Lease) of such
acquired interest by giving written notice to the Acquiring Party of its
election to participate in the acquisition. Such prorata share shall be equal to
each Party’s Lease interest set forth in paragraph 5.2. above, multiplied by the
interest acquired by the Acquiring Party. During the 30-day notice period, the
Acquiring Party shall, upon request, furnish copies to the other Parties or make
available for inspection, at the other Parties’ expense, all leases,
assignments, contracts, and other documents pertaining to the acquired
interest(s) involved that are in the Acquiring Party’s possession or subject to
its control. Promptly upon receipt of the written notice from a Party indicating
its election to participate, the Acquiring Party shall execute and deliver an
assignment conveying to that Party, without express or implied warranty of
title, the appropriate undivided share of the Acquiring Party’s right, title and
interest in and to the acquired interest involved, subject to that Party paying
or reimbursing the Acquiring Party for such Party’s share of actual
consideration paid or agreed to be paid for such acquisition and agreeing to
promptly discharge such Party’s share of all obligations incurred as
consideration for such acquisition. A Party’s failure to make such election
within the aforesaid 30-day period shall conclusively constitute a waiver by the
Party of its right to receive a share of the acquired interest.

          Any acquired interest which becomes owned by all Parties pursuant to
this AMI shall be committed to the operating agreement to which the acquired
interest is subject to, or if none, then an operating agreement in the form of
the [REDACTED] Operating Agreement, naming MEI as Operator provided MEI is then
the Operator of the [REDACTED] and owns an interest in the [REDACTED]. This AMI
and the rights and obligations for each Party set forth herein shall expire on
the earlier of: a) one year from rig release from the IEW (or Substitute Well
therefor) if the IEW is completed as a dry hole or December 31, 2010, and,
notwithstanding any other provisions in this Agreement to the contrary, this
Article 5.6 shall not terminate until December 31, 2010 and shall survive any
prior termination of this Agreement.

 

 

 

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ARTICLE VI
APPLICABLE LAW

          6.1      THIS AGREEMENT AND ALL OPERATIONS CONDUCTED HEREUNDER BY THE
PARTIES SHALL BE SUBJECT TO ALL VALID APPLICABLE LAWS, RULES, REGULATIONS AND
ORDERS, INCLUDING ALL FEDERAL LAWS, RULES, REGULATIONS AND ORDERS (“FEDERAL
LAW”). SOLELY TO THE EXTENT REQUIRED BY FEDERAL LAW, THE LAWS OF THE STATE
ADJACENT TO THE CONTRACT AREA SHALL APPLY. THIS AGREEMENT SHALL OTHERWISE BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE LAWS OF THE STATE
OF TEXAS, EXCLUSIVE OF ANY PROVISIONS THAT WOULD DIRECT THE APPLICATION OF THE
SUBSTANTIVE LAW OF ANY OTHER JURISDICTION.

ARTICLE VII
NOTICES

          7.1      Any notices, communications, or documents that either of the
Parties desire to give to the other Party or that may be required to be
delivered to the other Party pursuant to this Agreement shall be in writing and
sent via telecopy, via electronic mail, delivered in person or sent certified
mail, postage prepaid, return receipt requested, addressed to the Parties at the
following respective addresses stated for each:

 

 

 

 

Mariner Energy, Inc.

 

2000 W. Sam Houston Parkway South, Suite 2000

 

Houston, Texas 77042-3622

 

Attention:

John Davis

 

Telephone:

(713) 954-5525

 

Facsimile:

(713) 954-5570

 

Email:

jdavis@mariner-energy.com

 

 

 

 

LLOG Exploration Offshore, Inc.

 

11700 Katy Freeway, Suite 295

 

Houston, Texas 77079

 

Attention:

Michael Altobelli

 

Telephone:

(281) 752-1105

 

Facsimile:

(281) 296-0219

 

Email:

mikea@llog.com

 

 

 

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Ridgewood Energy Corporation

 

11700 Katy Freeway, Suite 280

 

Houston, Texas 77079

 

Attention:

W. Greg Tabor

 

Telephone:

(281) 293-8449

 

Facsimile:

(281) 293-7705

 

Email:

gtabor@ridgewoodenergy.com

 

 

 

 

Stone Energy Corporation

 

625 East Kaliste Saloom Road

 

Lafayette, Louisiana 70505

 

Attention:

Mike Deville

 

Telephone:

(337) 521-2184

 

Facsimile:

(337) 237-0996

 

Email:

devillemd@stoneenergy.com

Except as noted below, notice shall be effective when received (whether or not
read). For purposes hereof, if facsimile or personal delivery is not possible,
refusal by any Party hereto to accept correspondence sent by certified mail or
two (2) unsuccessful attempts by the U.S. Postal Service to serve any
communication sent by certified mail shall be deemed receipt of such
correspondence. Any notice delivered on Saturday, Sunday, a legal holiday or
after 4:15 p.m. on any other day, in the office of the recipient, shall be
deemed to have been delivered on the business day next following the date of
actual receipt. Either Party may change its address for notices by written
notice to the other of them in accordance with this Article.

ARTICLE VIII
TERM

          8.1      Other than Article 5.6, which shall expire on December 31,
2010 as more fully set forth therein, the term of this Agreement shall terminate
upon the earlier of: (i) ninety (90) days after the date or rig release from the
IEW or, if there is any Substitute Well(s), then ninety (90) days after the date
of rig release from the last Substitute Well (subject, however, to the
provisions of Article 3.2 of this Agreement which may result in the earlier
termination of this Agreement in the event of a Substitute Well(s)), or (ii) by
the mutual agreement of the Parties, or (iii) the occurrence of the events set
forth in the last sentence of Article 3.2, whichever event occurs first. Upon
termination of this Agreement, any and all future operations to be conducted on
the Lease or on the [REDACTED] Lease for the joint benefit of the Parties shall
be conducted under the Operating Agreement. Termination of this Agreement shall
not relieve any Party from any obligations hereunder accruing or accrued prior
to the date of termination, nor deprive any Party of any right or remedy
otherwise available to such Party. Furthermore, upon termination of this
Agreement, the provisions of Articles 6.1 and 7.1 and the provisions of Article
X shall survive such termination.

 

 

 

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ARTICLE IX
RENTALS

          9.1      Rental payments during the term of this Agreement shall be
handled in accordance with the terms of the Operating Agreement.

ARTICLE X
MISCELLANEOUS PROVISIONS

          10.1    This Agreement together with the instruments referred to
herein and the Exhibits attached hereto, embody the entire agreement between the
Parties with regard to the subject matter hereof, and supersede all other prior
agreements, arrangements, understandings, negotiations and discussions, whether
oral or written between the Parties relating to the subject matter hereof,
including without limitation, the Offer Letter, and there are no warranties,
representations or other agreements between the Parties in connection with the
subject matter hereof except as specifically set forth in this Agreement or in
subsequent documents delivered pursuant thereto. Notwithstanding the foregoing,
this Agreement shall not supersede any existing agreement between MEI and LLOG.
This Agreement may be supplemented, altered, amended, modified or revoked only
in writing, signed by all Parties hereto.

          10.2    Except for the definition headings contained in Article 1, all
of the captions, numbering sequences and paragraph headings used in this
Agreement are inserted for convenience only and shall in no way define, limit or
describe the scope or intent of this Agreement or any part thereof, nor shall
they have any legal effect other than to aid in a reasonable interpretation of
this Agreement.

          10.3    Each Party has had the benefit of independent representation
with respect to the subject matter of this Agreement. This Agreement, though
drawn by one Party, shall be considered for all purposes as prepared through the
joint efforts of the Parties, and shall not be construed against one Party or
the other as a result of the preparation, submittal or other events of
negotiation, drafting or execution hereof.

          10.4    Each of the Exhibits attached to this Agreement are
incorporated into this Agreement by reference as fully as if the text of each
Exhibit were set forth within the body of this Agreement.

          10.5    In the event of any conflicts or inconsistencies between the
provisions of this Agreement and any other agreement, including any agreement
referenced herein to be executed by the Parties hereafter, the provisions of
this Agreement shall control to the extent of such conflict, unless the Parties
otherwise expressly so provide.

          10.6    The Parties agree that prior to making any public announcement
or statement with respect to the transactions or operations contemplated by this
Agreement, the Party desiring to make such public announcement shall obtain the
prior written approval of the other Party to the text of such announcement or
statement, which approval shall not be unreasonably withheld or delayed. Nothing
contained in this Article 10.6 shall be construed to require any Party to obtain
approval to disclose information to any State or Federal governmental authority
or agency, to the extent required by applicable law or by any applicable rules,
regulations or orders of any governmental authority or agency having
jurisdiction, or as necessary to comply with any disclosure requirements of
applicable securities laws or any applicable stock exchanges, or if otherwise
permitted under the terms of the Operating Agreement.

 

 

 

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          10.7    This Agreement may be executed by signing the original or a
counterpart hereof. If this Agreement is executed in multiple counterparts, each
counterpart shall be deemed an original and all of which when taken together
shall constitute but one and the same Agreement with the same effect as if all
Parties had signed the same instrument. This Agreement may also be ratified by
separate instrument referring to this Agreement and adopting by reference all
the provisions of this Agreement. A ratification shall have the same effect as
an execution of the original Agreement.

          10.8    Disputes arising under this Agreement shall be resolved in
accordance with the dispute resolution provisions of the Operating Agreement.

          10.9    If any provision of this Agreement is for any reason held to
violate any applicable law, governmental rule or regulation, or if the provision
is held to be unenforceable or unconscionable, then such provision shall be
deemed null and void; but the invalidity of that specific provision shall not be
held to invalidate the remaining provisions of this Agreement. All other
provisions in the entirety of this Agreement (including all Exhibits) shall
remain in full force and effect unless the removal of the invalid provision
destroys the legitimate purposes of this Agreement, in which event this
Agreement shall be canceled and terminated. In the event any provision of this
Agreement is or shall become unenforceable because of changes in applicable
laws, or interpretations thereof, or should this Agreement fail to include a
provision that is required as a matter of law, the validity of the other
provisions of this Agreement shall not be affected. If those circumstances
should arise, the Parties shall negotiate in good faith the required
modifications to this Agreement to place themselves in the same position
(insofar as possible), as they would have been in but for the change in
applicable laws or interpretations thereof. If they cannot agree, the matter
shall be resolved in accordance with the dispute resolution provisions of the
Operating Agreement.

          10.10  This Agreement does not benefit or create any rights in any
person or entity not a party to this Agreement. Further, each Party represents
that upon execution of this Agreement it has secured all necessary management
approvals or other corporate approvals necessary to make this Agreement a fully
binding contract.

          10.11  It is not the purpose or intention of this Agreement to create,
and this Agreement will never be construed as creating, a joint venture, mining
partnership or other relationship whereby any Party will be held liable for the
acts, either of omission or commission, of any other Party, and the liabilities
of each of the Parties hereto shall be several and not joint or collective.
However, solely for federal tax purposes, if the Parties intend and agree for
this Agreement to constitute a partnership, then the Parties will make a
separate written election, under the authority of Section 761(a) of the Internal
Revenue Code of 1986, not to be excluded from the provisions of Subchapter K of
Chapter I of Subtitle A of said Internal Revenue Code of 1986.

          10.12  No waiver by either Party of any default by the other Party in
the performance of any provision, condition or requirement herein shall be
deemed to be a waiver of, or in any manner a release of the other Party from,
performance of any other provision, condition or requirement herein, nor deemed
to be a waiver of, or in any manner a release of the other Party from, future
performance of the same provision, condition or requirement; nor shall any delay
or omission of either Party to exercise any right hereunder in any manner impair
the exercise of any such right or any like right accruing to it thereafter.

 

 

 

Surge Prospect Participation Agreement

11

 

--------------------------------------------------------------------------------

EXECUTED as of the dates shown below, but effective for all purposes as of the
Effective Date.

Mariner Energy, Inc.

 

 

 

By:

 

 

 

--------------------------------------------------------------------------------

 

Name:  

Mike C. van den Bold

 

Title:

Senior Vice President & Chief Exploration Officer

 

Date:

____________, 2008

 

 

 

 

LLOG Exploration Offshore, Inc.

 

 

 

By:

 

 

 

--------------------------------------------------------------------------------

 

Name:

Michael Altobelli

 

Title:

Land Manager – GOM Deepwater

 

 

Date:

____________, 2008

 

 

 

 

Ridgewood Energy Corporation

 

 

 

By:

 

 

 

--------------------------------------------------------------------------------

 

Name:

W. Greg Tabor

 

Title:

Executive Vice President

 

 

Date:

______________, 2008

 

 

 

 

Stone Energy Corporation

 

 

 

By:

 

 

 

--------------------------------------------------------------------------------

 

Name:

 

 

 

--------------------------------------------------------------------------------

 

Title:

 

 

 

--------------------------------------------------------------------------------

 

 

Date:

______________, 2008

 

 

 

 

Surge Prospect Participation Agreement

12

 

--------------------------------------------------------------------------------

Exhibit “A-1”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.
[REDACTED]

 

 

 

Surge Prospect Participation Agreement

13

 

--------------------------------------------------------------------------------

Exhibit “A-2”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.
[REDACTED]

 

 

 

Surge Prospect Participation Agreement

14

 

--------------------------------------------------------------------------------

Exhibit “A-3”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.
[REDACTED]

 

 

 

Surge Prospect Participation Agreement

15

 

--------------------------------------------------------------------------------

Exhibit “A-4”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.
[REDACTED]

 

 

 

Surge Prospect Participation Agreement

16

 

--------------------------------------------------------------------------------

Exhibit “A-5”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.
[REDACTED]

 

 

 

Surge Prospect Participation Agreement

17

 

--------------------------------------------------------------------------------

Exhibit “B”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.

OPERATING AGREEMENT

 

 

 

Surge Prospect Participation Agreement

18

 

--------------------------------------------------------------------------------

Exhibit “C-1”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.

 

RIDGEWOOD ENERGY CORPORATION

WELL INFORMATION REQUIREMENTS

[REDACTED]

Offshore Louisiana

 

 

 

 

PRIOR TO SPUDDING

 

NUMBER OF COPIES

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

 

Application for Permit to Drill

 

1

Location/Survey Plat

 

1

All regulatory data & correspondence such as POE, etc. filed with State and
Federal Agencies

 

1

 

 

 

 

DURING DRILLING OF WELL:

 

 

 

 

 

 

 

Daily Drilling Reports by 7:00 a.m. to:

 

Donna Ermis

 

 

 

E-mail: dermis@ridgewoodenergy.com

 

 

 

Phone: 281-293-9464

 

 

 

(note: requested reports sent directly from rig)

 

Ken Webb

 

 

 

E-mail: kwebb@ridgewoodenergy.com

 

 

 

Phone: 281-293-8375

 

 

 

 

 

Harvey Dupuy

 

 

 

Email: hdupuy@ridgewoodenergy.com

 

 

 

Phone: 281-293-0405

 

 

 

 

 

Carl Taylor

 

 

 

Email: ctaylor@ridgewoodenergy.com

 

 

 

Phone: 281-598-5921

 

 

 

Mud, Wireline, and LWD Logs:

 

Please send daily via E-mail to:

 

 

 

kwebb@ridgewoodenergy.com

 

 

 

dermis@ridgewoodenergy.com

 

 

 

hdupuy@ridgewoodenergy.com

 

 

 

ctaylor@ridgewoodenergy.com

After hours and weekends, please notify Carl Taylor or Harvey Dupuy of email or
data drop.
Mobil Phone = Carl Taylor: 713-301-4605 or Harvey Dupuy: 713/261-7907

Also provide a casing detail report on each string run, and any spill or
accident reports associated with this operation.

If any online websites are used to transfer data (Schlumberger Interact,
Pathfinder, etc.) make sure Ken Webb, Carl Taylor and Harvey Dupuy are provided
access

 

 

 

Surge Prospect Participation Agreement

19

 

--------------------------------------------------------------------------------

 

 

 

DURING COMPLETION:

 

NUMBER OF COPIES

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

 

Completion Program

 

2

 

 

 

WITHIN TEN (10) DAYS AFTER DRILLING:

 

 

 

Typed Composite Detailed Daily Report

 

2

Final Composite Log Prints

 

3

Final Composite Log CD

 

1

Final Mug Log Prints and Show Report + 1 CD

 

2

Drill Stem Test Charts

 

2

Oil, Gas & Water Analysis

 

2

Core Analysis Report + 1 CD

 

2

Final Directional + 1 CD

 

2

Temperature, Caliper and/or other Well Surveys

 

2

All Government Reports (completion or P&A report)

 

2

Final Velocity Survey or Geophysical surveys Report + 1 Digital copy

 

2

Final Report of Paleo + 1 CD

 

2

 

 

PLEASE MAIL ABOVE WELL DATA TO:

 

Ridgewood Energy Corporation

 

11,700 Katy Freeway., Ste 280

 

Houston, Texas 77079

 

Attention: Carl Taylor

The following Ridgewood representative should be contacted in sufficient time to
witness all logging and testing operations:

 

 

 

Primary:

 

Alternate:

Carl Taylor

 

Harvey Dupuy

Ridgewood Energy Corporation

 

Ridgewood Energy Corporation

11,700 Katy Freeway., Ste 280

 

11700 Katy Freeway, Ste 280

Houston, Texas 77079

 

Houston, Texas 77079

Phone: (Mobil): 713-301-4605

 

Phone: (Mobil) 713/261-7907

 

 

 

Surge Prospect Participation Agreement

20

 

--------------------------------------------------------------------------------

Exhibit “C-2”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.

STONE ENERGY CORPORATION
625 E. Kaliste Saloom Road (70508) - P.O. Box 52807
Lafayette, Louisiana 70505

GEOLOGICAL REQUIREMENTS
[REDACTED]

 

 

 

1)

NOTIFICATION OF WELL PROGRESS

 

 

a.

Please e-mail daily drilling/completion reports to Sheri Bienvenue at
BienvenueSL@StoneEnergy.com or by fax at (337)233-2276 by 8:00 AM.

 

 

b.

Please e-mail daily logs in PDF format to addresses listed below in #6.

 

 

2)

ACCESS AND NOTIFICATION OF INTENTION TO RUN LOGS, CORE OR TEST

 

 

A representative of Stone Energy shall have access to the derrick floor at all
times and shall be furnished with all information concerning the drilling
progress of the subject well. Stone requests a 24 hour notification for coring,
testing, and logging.

 

 

 

Please contact one of the following:

 

 

 

 

 

 

 

 

Jim Fisher

(Log Analyst)

 

Keri Judice

(Geologist)

 

Mike Cox

(Expl. Manager)

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Office:

337-237-0410

 

Office:

337-237-0410

 

Office:

337-237-0410

Direct Line:

337-521-2154

 

Direct Line:

337-521-2252

 

Direct Line:

337-521-2188

Home:

337-269-5126

 

Home:

None

 

Home:

337-981-7586

Cell:

337-349-3655

 

Cell:

337-519-1120

 

Cell:

337-349-9948

 

 

 

3)

COPIES OF THE FOLLOWING STATE REGULATORY FORMS AND REPORTS SHOULD BE SENT TO
SHERI BIENVENUE AT THE ADDRESS NOTED ABOVE:

 

 

 

a.

Drilling Permit with plat and API number

 

 

b.

Completion Reports

 

 

c.

Sundry Notices

 

 

d.

Official Monthly Production Reports

 

 

 

Surge Prospect Participation Agreement

21

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

4)

COPIES OF THE FOLLOWING OR SIMILAR SERVICES, IF PERFORMED, SHOULD BE SENT AS
DESIGNATED:

 

 

 

 

 

 

 

Daily

 

Field Print

 

Final Copy

 

Digital Copy

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

Survey Plats

 

 

 

1

 

 

 

 

 

 

 

 

 

Well Prognosis

 

 

 

1

 

 

Electrical / LWD Logs (1” & TVD)

 

4

 

4

 

1 (LAS & PDF of each Log)

(5” MD) Directional Data

 

4

 

4

 

 

Mud Logs

 

2

 

2

 

1 (LAS & PDF of each Log)

Core Analysis

 

2

 

2

 

1

Directional Survey

 

2

 

2

 

1

Drill Stem Test Charts & Results

 

2

 

2

 

 

Paleo Reports

 

 

 

2

 

 

Well Test Information & BHP’s

 

2

 

2

 

 

Wellbore seismic/velocity survey

 

 

 

2

 

 

Fluid Sample Analyses

 

 

 

2

 

 

PVT Report

 

 

 

2

 

 

Well Cuttings - 1 wet, 1 dry

 

 

 

1

 

 

 

 

 

 

 

 

Field, Final and LAS copies are to be Fed Ex or UPS Shipped:

 

 

Stone Energy Corporation

 

 

ATTN: JIM FISHER

 

 

625 E Kaliste Saloom Road

 

 

Lafayette, LA 70508

 

 

5)

NOTICE TO PLUG AND ABANDON

 

 

A 48 hour notification, exclusive of weekends and holidays, will be given by the
Operator to Stone Energy prior to the commencement of plugging and abandonment
procedures.

 

 

 

 

6)

E-MAIL ADDRESSES IF NEEDED:

*(1) Keri Judice – JudiceKJ@StoneEnergy.com

 

 

 

*(2) Mike Cornyn – CornynMR@StoneEnergy.com

 

 

 

*(3) Mike Cox – CoxWM@StoneEnergy.com

 

 

 

*(4) Jim Fisher – FisherJL@StoneEnergy.com

 

 

 

Surge Prospect Participation Agreement

22

 

--------------------------------------------------------------------------------

Exhibit “D-1”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.

***

(FORM OF)
ASSIGNMENT OF RECORD TITLE INTEREST

 

 

UNITED STATES OF AMERICA

§

OUTER CONTINENTAL SHELF

§

OFFSHORE LOUISIANA

§

          For $1,000 Dollars and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, and in consideration of
the covenants and agreements of Assignee herein contained, and subject to the
terms and conditions hereinafter set forth, Mariner Energy, Inc., a ______
corporation, whose address is 2000 W. Sam Houston Parkway South, Suite 2000,
Houston, Texas 77042-3622 and LLOG Exploration Offshore, Inc., a Louisiana
corporation, whose address is 433 Metairie Road, Suite 600, Metairie, Louisiana
70005 (collectively referred to as “Assignors”), hereby sell, transfer, assign,
convey and deliver unto and Ridgewood Energy Corporation, a ________
corporation, whose address is 11700 Katy Freeway, Suite 280, Houston, Texas
77079 and Stone Energy Corporation, a ______ corporation, whose address is 625
East Kaliste Saloom Road, Lafayette, Louisiana 70505 (collectively referred to
as “Assignees”), effective as of August 1, 2008, at 7:00 a.m., local time where
the Lease is located the “Effective Time”), ____________ percent of
eight-eighths (___% of 8/8ths) record title interest in and to the following oil
and gas lease (the “Assigned Interest” ):

Serial Number OCS-G _________________: Oil and Gas Lease of Submerged Lands
under the Outer Continental Shelf Lands Act dated effective
______________________, issued by the United States of America, as lessor, to
_______________________, as lessee, covering all of Block ____, [REDACTED] OCS
Official Protraction Diagram, NG 15-2, containing approximately 5,760.00 acres,
more or less (the “Lease”)

TO HAVE AND TO HOLD the Assigned Interest unto Assignee, its successors and
assigns forever.

          This Assignment of Record Title Interest is made free and clear of all
burdens and encumbrances on the Lease, except for the lessor’s royalty and those
existing burdens and encumbrances set forth in Exhibit “A” attached hereto and
is delivered and accepted without any warranty of title, express or implied,
except as to persons lawfully claiming by, through or under Assignors, but not
otherwise, or other representations or warranties. Assignee shall have the
rights of full substitution and subrogation in and to any and all rights and
actions of warranty which Assignors have or may have against all preceding
owners of the Assigned Interest.

          Assignee hereby accepts this Assignment of Record Title Interest
subject thereto and hereby assumes and agrees to fully discharge, comply with
and perform its proportionate share of all duties, liabilities, obligations,
both express and implied, imposed on the lessee of the Lease and to comply with
all applicable state, federal and local laws and the rules and regulations of
all state and federal regulatory and administrative bodies having jurisdiction
over the Lease premises or operations for and the production of oil and gas
therefrom.

 

 

 

Surge Prospect Participation Agreement

23

 

--------------------------------------------------------------------------------

          This Assignment of Record Title Interest is subject to that certain
Participation Agreement dated effective August 1, 2008 by and between Assignors
and Assignee and that certain Operating Agreement dated effective _________ 1,
2008 by and between Assignors and Assignee and [here insert name, if
applicable].

          This Assignment of Record Title Interest is subject to the approval of
the Minerals Management Service of the United States Department of the Interior
and/or any other governmental department or agency having jurisdiction, which
approval(s) Assignee shall earnestly seek to secure by promptly filing this
Assignment of Record Title Interest with the appropriate offices of same.

          The provisions hereof shall bind and inure to the benefit of Assignee
and Assignors and their respective affiliates, heirs, devisees, legal
representatives, successors and assigns.

          EXECUTED this _______ day of _____ 2008, but effective as of the
above-stated Effective Time.

 

 

 

 

 

 

 

ASSIGNORS:

 

 

 

WITNESSES:

 

Mariner Energy, Inc.

 

 

 

 

 

 

By:

 

--------------------------------------------------------------------------------

 

 

--------------------------------------------------------------------------------

 

 

 

Name: 

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

Title:

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

WITNESSES:

 

LLOG Exploration Offshore, Inc.

 

 

 

 

 

By:

 

--------------------------------------------------------------------------------

 

 

--------------------------------------------------------------------------------

 

 

 

Name:

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

Title:

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

 

 

ASSIGNEES:

 

 

 

WITNESSESS:

 

 

 

 

 

 

 

By:

 

--------------------------------------------------------------------------------

 

 

--------------------------------------------------------------------------------

 

 

 

Name:

 

 

 

 

 

--------------------------------------------------------------------------------

 

 

 

Title:

 

 

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

 

 

 

 

 

Surge Prospect Participation Agreement

24

 

--------------------------------------------------------------------------------

 

 

STATE OF LOUISIANA

§

COUNTY OF ___________

§

On this ___ day of _____ 2008, before me appeared Kemberlia Ducote to me
personally known, who, being by me duly sworn, did say that she is the Secretary
of LLOG Exploration Offshore, Inc., a Louisiana corporation, and that the said
instrument was signed on behalf of said corporation by authority of its Board of
Directors and appearer herein acknowledged said instrument to be the free act
and deed of said corporation.

          GIVEN under my hand and seal of office the day and year last above
written.

NOTARY PUBLIC in and for the aforesaid
______________________County and State

State Notarial No. _____________
My Commission expires _______________

 

 

STATE OF TEXAS

§

COUNTY OF HARRIS

§

On this ___ day of _____ 2008, before me appeared ___________ to me personally
known, who, being by me duly sworn, did say that he is the ________ of Mariner
Energy, Inc., a _____________ corporation, and that the said instrument was
signed on behalf of said corporation by authority of its Board of Directors and
appearer herein acknowledged said instrument to be the free act and deed of said
corporation.

          GIVEN under my hand and seal of office the day and year last above
written.

NOTARY PUBLIC in and for the aforesaid
______________________County and State

State Notarial No. _____________
My Commission expires _______________

 

 

STATE OF TEXAS

§

COUNTY OF HARRIS

§

On this ___ day of _____ 2008, before me appeared ___________ to me personally
known, who, being by me duly sworn, did say that he is the ________ of Ridgewood
Energy Corporation], a _____________ corporation, and that the said instrument
was signed on behalf of said corporation by authority of its Board of Directors
and appearer herein acknowledged said instrument to be the free act and deed of
said corporation.

          GIVEN under my hand and seal of office the day and year last above
written.

NOTARY PUBLIC in and for the aforesaid
______________________County and State

State Notarial No. _____________
My Commission expires _______________

 

 

 

Surge Prospect Participation Agreement

25

 

--------------------------------------------------------------------------------

Exhibit “D-2”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.

 

***Block #***]

OCS-G _____

(FORM OF)
ASSIGNMENT OF OPERATING RIGHTS INTEREST

 

 

UNITED STATES OF AMERICA

§

OUTER CONTINENTAL SHELF

§

OFFSHORE LOUISIANA

§

 

 

NEEDS TO BE INSERTED

 

 

 

 

Surge Prospect Participation Agreement

26

 

--------------------------------------------------------------------------------

Exhibit “E”
Attached to and made a part of that certain Participation Agreement effective
August 1, 2008 by and among LLOG Exploration Offshore, Inc.,
Mariner Energy, Inc., Ridgewood Energy Corporation and Stone Energy Corporation.

EXISTING BURDENS ON THE CONTRACT AREA

 

 

 

 

 

 

[REDACTED]

 

 

 

 

 

 

 

 

WI

 

NRI

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

RIDGEWOOD

 

0.25000000

 

0.20333333

 

STONE

 

0.10000000

 

0.08133333

 

 

 

 

 

 

 

MMS ROYALTY

 

 

 

0.16666667

 

MARINER & LLOG ORRI

 

 

 

0.02000000

 

 

 

 

 

 

 

[REDACTED] (Operating Rights only)

 

 

 

 

 

 

 

 

 

 

 

 

 

WI

 

NRI

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

RIDGEWOOD

 

0.23750000

 

0.20306250

 

STONE

 

0.09500000

 

0.08122500

 

 

 

 

 

 

 

MMS ROYALTY

 

 

 

0.12500000

 

ANDROMEDA GENERATORS

 

 

 

0.02000000

 

 

 

 

Surge Prospect Participation Agreement

27

 

--------------------------------------------------------------------------------