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RETURN THIS INSTRUMENT TO:
    
    GUESS & RUDD510 L Street, Suite 700Anchorage, Alaska 99501Attention: Joseph J. Perkins, Jr.




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For the
    
    ChargeableYear Ending
    
    Costs PerDecember 31
    
    Barrel1989
    
    
    
    4.501990
    
    
    
    4.501991
    
    
    
    4.501992
    
    
    
    6.001993
    
    
    
    6.751994
    
    
    
    8.001995
    
    
    
    8.251996
    
    
    
    8.501997
    
    
    
    8.851998
    
    
    
    9.301999
    
    
    
    9.802000
    
    
    
    10.002001
    
    
    
    10.752002
    
    
    
    11.252003
    
    
    
    11.752004
    
    
    
    12.002005
    
    
    
    12.252006
    
    
    
    12.502007
    
    
    
    12.752008
    
    
    
    13.002009
    
    
    
    13.252010
    
    
    
    14.502011
    
    
    
    16.602012
    
    
    
    16.702013
    
    
    
    16.802014
    
    
    
    16.90
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For the
    
    ChargeableYear Ending
    
    Costs PerDecember 31
    
    Barrel2015
    
    
    
    17.002016
    
    
    
    17.102017
    
    
    
    17.202018
    
    
    
    20.002019
    
    
    
    23.752020
    
    
    
    26.50thereafter
    
    
    increasing by $2.75 each year
     9




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Grantor:
    
    BP Exploration (Alaska) Inc.P.O. Box 196612900 East Benson BoulevardAnchorage, Alaska 99519-6612Grantee:
    
    The Standard Oil Company200 Public SquareCleveland, Ohio 44114-2375
  18




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GRANTOR:[SEAL]Attest:
    
    
    
    BP Exploration (Alaska) Inc./s/ John A. Reeder

Assistant Secretary
    
    
    
    By
    
    /s/ G.N. Nelson

G.N. Nelson, PresidentGRANTEE:[SEAL]Attest:
    
    
    
    The Standard Oil Company/s/ J.M. Cesarik
    
    
    
    By
    
    /s/ James H. Ross
  STATE OF ALASKA
    
    ))   ssTHIRD JUDICIAL DISTRICT
    
    )
  [SEAL]
    
    /s/ Keri L. Hopkins

Notary Public in and for AlaskaMy Commission Expires: 1-14-93
 STATE OF OHIO
    
    ))   ssCOUNTY OF CUYAHOGA
    
    )
  [SEAL]
    
    /s/ JoAnn Motuza

Notary Public in and for OhioMy Commission Expires:
 
 21




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Grantors
    
    RecordedPBU
    
    Lease
    
    Lands
    
    Working
    
    Book/Tract
    
    Serial No.
    
    Description
    
    Interest
    
    Page*16
    
    ADL-25637
    
    Secs. 13,24
    
    
    50
    %
    
    42/609T12N-R10E, UM47
    
    ADL-28260
    
    Secs. 1,2,11,12
    
    
    100
    %**
    
    52/40T11N-R13E, UM25
    
    ADL-28277
    
    Secs. 26,35,36
    
    
    100
    %**
    
    52/44T12N-R13E, UM24
    
    ADL-28278
    
    Secs. 27,28,33,34
    
    
    100
    %**
    
    52/50T12N-R13E, UM23
    
    ADL-28279
    
    Secs. 29,30,31,32
    
    
    100
    %**
    
    52/56T12N-R13E, UM44
    
    ADL-28280
    
    Secs. 1,2,11,12
    
    
    100
    %**
    
    52/62T11N-R13E, UM45
    
    ADL-28281
    
    Secs. 3,4,9,10
    
    
    100
    %**
    
    52/68T11N-R13E, UM46
    
    ADL-28282
    
    Secs. 5,6,7,8
    
    
    100
    %**
    
    52/74T11N-R13E, UM57
    
    ADL-28283
    
    Secs. 17,18,19,20
    
    
    100
    %**
    
    52/80T11N-R13E, UM58
    
    ADL-28284
    
    Secs. 15,16,21,22
    
    
    100
    %**
    
    52/86T11N-R13E, UM59
    
    ADL-28285
    
    Secs. 13,14,23,24
    
    
    100
    %**
    
    52/92T11N-R13E, UM76
    
    ADL-28286
    
    Secs. 25,26,35,36
    
    
    100
    %**
    
    52/98T11N-R13E, UM
    
    
    
    
    
    29/17877
    
    ADL-28287
    
    Secs. 27,28,33,34
    
    
    100
    %**
    
    47/235T11N-R13E, UM60
    
    ADL-28305
    
    Secs. 17,18,19,20
    
    
    100
    %**
    
    47/223T11N-R14E, UM74
    
    ADL-28309
    
    Secs. 27,28,33,34
    
    
    100
    %**
    
    42/336T11N-R14E, UM




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Grantors
    
    RecordedPBU
    
    Lease
    
    Lands
    
    Working
    
    Book/Tract
    
    Serial No.
    
    Description
    
    Interest
    
    Page*75
    
    ADL-28310
    
    Secs. 29,30,31,32
    
    
    100
    %**
    
    47/241T11N-R14E, UM90
    
    ADL-28311
    
    Secs. 1,2,11,12
    
    
    100
    %**
    
    47/229T10N-R14E, UM89
    
    ADL-28312
    
    Secs. 3,4,9,10
    
    
    100
    %**
    
    52/104T10N-R14E, UM101
    
    ADL-28315
    
    Secs. 13,14,23,24
    
    
    100
    %**
    
    52/110T10N-R14E, UM38
    
    ADL-28320
    
    Secs. 1,2,11,12
    
    
    100
    %**
    
    47/199T11N-R15E, UM100
    
    ADL-28330
    
    Secs. 17,18,19,20
    
    
    100
    %**
    
    52/116T10N-R15E, UM99
    
    ADL-28331
    
    Secs. 15,16,21,22
    
    
    100
    %**
    
    52/122T10N-R15E, UM110
    
    ADL-28333
    
    Secs. 25,26,35,36
    
    
    100
    %**
    
    42/341T10N-R15E, UM108
    
    ADL-28335
    
    Secs. 29,30,31,32
    
    
    100
    %**
    
    52/128T10N-R15E, UM66
    
    ADL-28339
    
    Secs. 17,18,19
    
    
    100
    %**
    
    47/193T11N-R16E, UM69
    
    ADL-28343
    
    Secs. 30,31,32
    
    
    100
    %**
    
    42/356T11N-R16E, UM111
    
    ADL-28349
    
    Secs. 29,30,31
    
    
    100
    %**
    
    42/370T10N-R16E, UM31
    
    ADL-34630
    
    Secs. 25,26,35,36
    
    
    100
    %**
    
    47/205T12N-R15E, UM
 
 *
    
    All book and page references are to the lease records of the Noatak-Kobuk
Recording District, except: (i) Lease ADL 25637 is recorded in the Miscellaneous
Records of the Fairbanks Recording District; and (iii)[sic] Lease ADL 28286 is
recorded both in the Lease Records of the Noatak-Kobuk Recording District (Book
52/page 98) and the Lease Records of the Fairbanks Recording District (Book
29/page 178).**
    
    The interest of BP Exploration (Alaska) Inc. in these leases is subject
to the Net Profits Royalty Interest (excluding the Lower Lower Net Profits
Royalty Interest).