<PAGE>


                               PURCHASE AGREEMENT

This purchase agreement  ("Purchase  Agreement"),  is effective January 12, 1996
("Effective Date") and is by and between Chaparral Resources Inc.  ("Chaparral")
and  Guntekin  Koksal  ("Shareholder")  for the purchase by Chaparral of certain
shares of Central Asian Petroleum  (Guernsey)  Limited ["CAP(G)"] stock owned by
Shareholder as described below.

1.  Purchase of 75,000 shares ("Stock A")

Chaparral shall purchase all of Shareholder's  right,  title and interest in and
to 75,000 shares of CAP(G) stock ("Stock A") in return for (i) U.S.  $1,975,000,
plus (ii) 900,000 shares of restricted  common stock of Chaparral.  The purchase
price shall be paid as follows:

         a. Chaparral shall deposit U.S.  $150,000.00  ("Escrow Funds") with the
         escrow  agent  pursuant to the escrow  agreement  ("Escrow  Agreement")
         (attached  hereto and  incorporated  by this  reference as Exhibit A to
         this Purchase  Agreement) in cash or other immediately  available funds
         on or before January 19, 1996. Such amount shall be paid to Shareholder
         upon  "Closing A" (the closing to occur on or before March 11, 1996 and
         as further described in this Purchase Agreement), or shall be otherwise
         disposed of under the terms of the Escrow  Agreement.  Should Chaparral
         fail to Close for reasons other than (i) the failure of  Shareholder to
         Close,   (ii)   the   material   failure   of  any   of   Shareholder's
         representations  herein to be true and accurate or the material  breach
         by Shareholder of its warranties  hereunder,  or (iii) the discovery of
         any material  adverse effects during  Chaparral's due diligence  review
         under  Clause  3(b)  below,  then the  escrowed  funds shall be paid to
         Shareholder as Shareholder's  full and exclusive remedy for Chaparral's
         failure to Close;
     
         b. Chaparral shall pay U.S. $600,000.00 to the Shareholder, and deliver
         900,000 shares of restricted  common stock  of Chaparral to Shareholder
         as directed in writing by the  Shareholder,  at Closing A; and

         c.  Provided  that  Closing A has  occurred,  Chaparral  shall pay U.S.
         $1,225,000  to  Shareholder  in four  payments of  $306,250  each on or
         before: June 11, 1996,  September 11, 1996, December 11, 1996 and March
         11,  1997,   respectively  (each  such  payment  referred  to  here  as
         "Installment Payment"). In such case Chaparral shall either:

                  (i) Put in place a bank  guarantee,  performance  bond or bank
                  letter of credit  ("Security")  acceptable to Shareholder (and
                  Shareholder may not unreasonably withhold such acceptance) for
                  the  benefit  of  Shareholder  for  the  purpose  of  securing
                  Shareholder's  right to receive such U.S.  $1,225,000 pursuant
                  to the payment schedule  described above (which Security shall
                  provide  for  subject  amount to  decline in  accordance  with
                  payments made according to such payment schedule); or


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                  (ii) Not provide  Security,  in which case  Shareholder  shall
                  have  a  lien  on  Stock  A,  and  Clause  1(d)  shall  become
                  applicable.

         d. If  Chaparral  has not put in  place  Security  pursuant  to  Clause
         1(c)(i),  and if Chaparral also fails to pay any one of the Installment
         Payments  pursuant to the  payment  schedule  described  in Clause 1(c)
         above,  then the  ownership of Stock A shall be deemed to have reverted
         to  Shareholder,  and  Chaparral  shall  take all  steps  necessary  to
         immediately deliver Stock A to Shareholder.  In such a case,  Chaparral
         shall also become  obligated to pay Shareholder  interest on the amount
         associated with such missed installment  payment, and the amount of any
         of  the  Installment   Payments  which   subsequently  may  become  due
         (beginning on the respective due date of any such Installment  Payment)
         compounded on a monthly  basis,  at the rate per annum equal to the one
         (1) month term,  LIBOR rate for U.S. dollar  deposits,  as published by
         The Wall  Street  Journal or if not  published,  then by the  Financial
         Times of London,  plus five percent,  applicable on the first  Business
         Day  prior  to the due date of such  unpaid  Installment  Payment,  and
         thereafter on the first  Business Day of each  succeeding one (1) month
         term  ("Agreed  Interest  Rate").  Chaparral  shall  have the  right to
         mitigate such interest by making  payments to  Shareholder at any time.
         During  such  180  day  period   Chaparral  shall  have  the  right  to
         participate  in the  marketing  of Stock A, at  Chaparral's  sole cost.
         Shareholder  shall  sell  Stock A,  subject  to the rights of the other
         CAP(G) Members [including  Chaparral and CAP(D)] to purchase such Stock
         A pursuant to the CAP(G)  Articles of  Association,  to any buyer which
         Chaparral  may  designate  [including  either  Chaparral or CAP(D)] and
         pursuant to terms as Chaparral may designate,  provided that such terms
         provide for full  payment to be  completed  within such 180 day period.
         The proceeds of any such sale of Stock A shall be allocated:

                  (i)  first  to  Shareholder  in  satisfaction  of  any  unpaid
                  Installment  Payments  (inclusive of any Installment  Payments
                  not yet due), plus applicable  interest (less any amounts paid
                  by Chaparral in order to mitigate interest); and

                  (ii)     second, should there be any surplus, to Chaparral.

         In the event that there  continues  to be, upon the  conclusion  of any
         such sale,  any amount owing by Chaparral  to  Shareholder  as provided
         above, then Shareholder may take advantage of all remedies available to
         it in order to recover any such deficiency.

         e. If,  at the end of such  180 day  period,  no sale has been  made as
         described in Clause l(d) above,  then  Chaparral,  at Chaparral's  sole
         cost,  shall  provide for an auction (to occur on or before the date 45
         days after the end of such 180 day period)  wherein  Shareholder  shall
         sell Stock A to the highest cash bidder  [including either Chaparral or
         CAP(D)]  without any  obligation  to obtain the approval of  Chaparral,
         subject to the rights of the other CAP(G) Members [including  Chaparral
         and CAP(D)] to purchase such Stock A pursuant to the CAP(G) Articles of
         Association.  The  proceeds  of any  such  sale of  Stock  A  shall  be
         allocated:


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                  (i)  first  to  Shareholder  in  satisfaction  of  any  unpaid
                  Installment  Payments  (inclusive of any Installment  Payments
                  not yet due), plus applicable  interest (less any amounts paid
                  by Chaparral in order to mitigate interest); and

                  (ii)     second, should there be any surplus, to Chaparral.

         In the event that there  continues  to be, upon the  conclusion  of any
         such sale,  any amount owing by Chaparral  to  Shareholder  as provided
         above, then Shareholder may take advantage of all remedies available to
         it in order to recover any such deficiency.

2.       Option for 50.000 shares ("Stock B")

         a. Upon Closing A having occurred,  and Chaparral having discharged any
         obligations as may have accrued pursuant to 1(c) above, Chaparral shall
         have the option ("Option"), until the earliest of either:

                  (i) December 11, 1997; or

                  (ii) any share  assignment  pursuant  to  Paragraph  9 of that
                  certain  September  16,  1994  Protocol  among the  Members of
                  CAP(G);

         to  purchase,  and take  delivery of (in  accordance  with  Chaparral's
         written  instructions),  all of Shareholder's right, title and interest
         in and to  50,000  shares  of CAP(G)  ("Stock  B") in  return  for U.S.
         $1,625,000 and 200,000 of restricted common stock of Chaparral, and any
         such  exercise of option  shall be  referred to as "Closing  B". On the
         date of Closing B  Chaparral  shall  transfer  such  200,000  shares of
         restricted common stock of Chaparral to Shareholder (in accordance with
         Shareholder's written instructions).
         Chaparral shall also have the obligation to either:

                  (iii) pay such U.S. $1,625,000 to Shareholder at Closing B; or

                  (iv) at any time prior to December 11,  1997,  pay Shareholder
                  such  U.S.$1,625,000 with interest at the Agreed Interest Rate
                  beginning on the date of Closing B.

         In the event that  Chaparral opts to pay  Shareholder  pursuant to (iv)
         above, then Chaparral shall have the option to either:

                  (v)  Provide  for  Security  acceptable  to  Shareholder  (and
                  Shareholder may not unreasonably withhold such acceptance) for
                  the  benefit  of  Shareholder  for  the  purpose  of  securing
                  Shareholder's  right to  receive  such  U.S.  $1,625,000  plus
                  applicable interest on or before December 11, 1997, or



<PAGE>


                  (vi) Not  provide  such  Security,  in which case  Shareholder
                  shall  have a lien on Stock B, and Clause  2(b)  shall  become
                  applicable.

          b. If Chaparral  has  not put in  place  Security  pursuant to Clause
          2(a)(v),  and   if   Chaparral   also   fails   to   pay   such   U.S.
          $1,625,000  plus  applicable  interest on or before December 11, 1997,
          then the  ownership  of Stock B shall be  deemed to have  reverted  to
          Shareholder,   and  Chaparral   shall  take  all  steps  necessary  to
          immediately  deliver Stock B to Shareholder.  Chaparral shall have the
          right  to  mitigate   applicable   interest  by  making   payments  to
          Shareholder at any time.  During such 180 day period  Chaparral  shall
          have  the  right  to  participate  in the  marketing  of  Stock  B, at
          Chaparral's sole cost.  Shareholder shall sell Stock B, subject to the
          rights of the other CAP(G) Members [including Chaparral and CAP(D)] to
          purchase such Stock B pursuant to the CAP(G)  Articles of Association,
          to any buyer which Chaparral may designate [including either Chaparral
          or CAP(D)] and pursuant to terms as Chaparral may designate,  provided
          that such terms  provide for full payment to be completed  within such
          180 day  period.  The  proceeds  of any such  sale of Stock B shall be
          allocated:

          (i) first to Shareholder in satisfaction of the unpaid U.S. $1,625,000
          plus applicable  interest (less any amounts paid by Chaparral in order
          to mitigate interest); and

          (ii) second, should there be any surplus, to Chaparral.

         In the event that there  continues  to be, upon the  conclusion  of any
         such sale,  any amount owing by Chaparral  to  Shareholder  as provided
         above, then Shareholder may take advantage of all remedies available to
         it in order to recover any such deficiency.

         c. If,  at the end of such  180 day  period,  no sale has been  made as
         described in Clause 2(b) above,  then  Chaparral,  at Chaparral's  sole
         cost,  shall  provide for an auction (to occur on or before the date 45
         days after the end of such 180 day period)  wherein  Shareholder  shall
         sell Stock B to the highest cash bidder  [including either Chaparral or
         CAP(D)]  (without any  obligation to obtain the approval of Chaparral),
         subject to the rights of the other CAP(G) Members [including  Chaparral
         and CAP(D)] to purchase such Stock B pursuant to the CAP(G) Articles of
         Association.  The  proceeds  of any  such  sale of  Stock  B  shall  be
         allocated:

                  (i)      first to  Shareholder  in  satisfaction of the unpaid
                           U.S. $1,625,000 plus  applicable  interest  (less any
                           amounts  paid  by  Chaparral  in  order  to  mitigate
                           interest), and

                  (ii)     second, should there be any surplus, to Chaparral.



<PAGE>


         In the event that there  continues  to be, upon the  conclusion  of any
         such sale,  any amount owing by Chaparral  to  Shareholder  as provided
         above, then Shareholder may take advantage of all remedies available to
         it in order to recover any such deficiency.

         3.       Conditions

         a.  Shareholder  shall be entitled to all the benefits and receipts and
         shall be liable  for all  costs,  charges,  expenses,  liabilities  and
         obligations  in  respect  of the Stock A and/or  Stock B,  respectively
         (other than those which may be specifically excluded from Shareholder's
         representations  and warranties),  which accrue or relate to any period
         before  Closing  A  or  Closing  B,  respectively.   Shareholder  shall
         reimburse  and  indemnify  Chaparral  against any such costs,  charges,
         expenses,  liabilities  and  obligations  which are paid by  Chaparral.
         Chaparral  shall be entitled to all the benefits and receipts and shall
         be liable for all costs, charges, expenses, liabilities and obligations
         in respect of Stock A and/or  Stock B,  respectively  (other than those
         which  Shareholder have represented and warranted  against by virtue of
         this  Purchase  Agreement)  which  accrue or relate to any period after
         Closing A and/or Closing B, respectively. Chaparral shall reimburse and
         indemnify  Shareholder  against  any  such  costs,  charges,  expenses,
         liabilities and obligations which are paid by Shareholder.

         b.  Chaparral  shall  conduct a due  diligence  review to  confirm  the
         accuracy of the  representations  contained  herein,  and to verify the
         accuracy of the  information  and data  supplied  and to be supplied by
         Shareholder to Chaparral, and to determine the existence of any adverse
         conditions  or  circumstances  pertaining  to  Stock A and  Stock B, as
         applicable.  Shareholder agrees that it shall give Chaparral reasonable
         access to the records and files of  Shareholder as required to complete
         its  due  diligence  review  before  Closing  A  and/or  Closing  B, as
         applicable.  Chaparral  agrees  to keep  all  information  provided  by
         Shareholder regarding Stock A and Stock B confidential.

         c.  Should  there  be,  at the  time of  Closing  A, in the  reasonable
         discretion of Chaparral,  a material inconsistency or breach in respect
         of  the  representations  or  warranties  given  by  Shareholder  in or
         pursuant to this Purchase  Agreement,  or a material adverse  condition
         pertaining to Stock A and/or Stock B, then, at Chaparral's  option: (i)
         this Purchase  Agreement and the Escrow Agreement may be terminated and
         the parties shall have no further  obligations to one another,  or (ii)
         the parties shall  nevertheless  proceed to Closing A.  Notwithstanding
         the  foregoing,  however,  if there  are  material  inconsistencies  or
         breaches  due to the  intentional  or  reckless  acts or  omissions  of
         Shareholder, then Chaparral may seek whatever remedies and compensation
         from  Shareholder  that may be available to it regardless of whether or
         not Chaparral elects to proceed to Closing A.

4.  Representations and Warranties

Shareholder   represents   and   warrants  to   Chaparral   as  follows,   which
representations and warranties shall be deemed repeated at Closing A and Closing
B, respectively, and which shall survive Closing A and Closing B, respectively:



<PAGE>


         a.  Shareholder  has good and marketable  title to Stock A and Stock B,
         free and clear of all liens,  encumbrances  and  adverse  claims of any
         nature; and there are no facts known to Shareholder which are likely to
         prejudice or endanger Stock A or Stock B.

         b.  Shareholder  have the full  power and  authority  to enter into and
         perform the transactions  hereunder,  and do not require the consent of
         any other persons, firms or entities, and no person, firm or entity has
         any preferential  purchase right with respect to any portion of Stock A
         and/or Stock B, nor is any portion of Stock A or Stock B subject to any
         pending or existing agreement to sell to any party.

         c.  Shareholder has the sole legal and beneficial  ownership of Stock A
         and Stock B, as applicable,  in the aggregate  representing twenty five
         percent (25%) of the outstanding  stock of CAP(G),  and Shareholder has
         no obligations to any third party with respect to any such stock.

         d.  Shareholder  shall ensure that the  representations  and warranties
         above  shall be true and  accurate.  However,  if  notwithstanding  the
         efforts  of  Shareholder,  any  matter  or thing  occurs  of which  any
         Shareholder is aware and which would be inconsistent  with or in breach
         of any of those  representations  and warranties then that  Shareholder
         shall promptly notify Chaparral thereof in writing.

5.       Closing A

At Closing A:

         a.  Chaparral  shall direct the "Escrow Agent" (as that term is defined
         in the Escrow  Agreement) to deliver  the Escrow  Funds to Shareholder,

         b.  Chaparral  shall pay U.S. $600,000  to  Shareholder  in immediately
         available funds,

         c.  Chaparral  shall   deliver  900,000  shares  of  restricted  common
         stock in Chaparral to the Shareholder in accordance  with Shareholder's
         written instructions; and

         d. Shareholder shall deliver all certificates  representing  Stock A to
         Chaparral,   together  with  executed   stock  powers  and  such  other
         instruments as may be required to vest complete ownership of Stock A in
         Chaparral.

6.       Closing B

At Closing B:

         a. Shareholder shall deliver all certificates  representing  Stock B to
         Chaparral,   together  with  executed   stock  powers  and  such  other
         instruments as may be required to vest complete ownership of Stock B in
         Chaparral.


<PAGE>


         b. Chaparral shall deliver 200,000 shares of restricted common stock in
         Chaparral to the Shareholder in accordance with  Shareholder's  written
         instructions  (Chaparral shall pay U.S.  $1,625,00.00 to Shareholder in
         accordance with Clause 2 above).

7.      Undertaking by Chaparral and Central Asian Petroleum (Delaware) Guernsey

Chaparral,  and  Chaparral's  wholly-owned  subsidiary,  Central Asian Petroleum
(Delaware) Guernsey ["CAP(D)] covenant that during the period of the Option they
shall not  exercise  their  respective  votes as  Members of CAP(G) to cause any
assignment of CAP(G) shares to Chaparral or any Affiliate of Chaparral  pursuant
to Paragraph 9 of that certain  September 16, 1994 Protocol among the Members of
CAP(G). For this purpose "Affiliate" means a legal entity that:

                  (i)      controls;

                  (ii)     is controlled by; or

                  (iii) is  controlled by an entity which  controls,  Chaparral.
                  For this  purpose  "Control"  means  the  right  to  exercise,
                  directly or indirectly, at least 50% of the voting rights in a
                  legal entity.

8.       Shareholder's Undertakings

         a.  Shareholder  shall not solicit,  directly or indirectly,  any other
         party,  nor negotiate with any other party, for the sale of any portion
         of Stock A or Stock B until the failure of Closing A and/or  Closing B,
         as applicable.

         b. Shareholder  shall  immediately  notify Chaparral of any information
         Shareholder may obtain  regarding third parties which may be interested
         in purchasing CAP(G) stock.

9.       Appointment of Alternate Director

         a.  Shareholder has executed and delivered the Appointment of Alternate
         Director of CAP(G) (appointing  Matthew R. Hoovler) attached hereto and
         incorporated  by  reference as Exhibit B,  contemporaneously  with this
         Purchase Agreement, and Shareholder also hereby covenants that he shall
         not:

                  i. attend any future meetings of the CAP(G)  Board as a member
                  of the  CAP(G)  Board of Directors, or in any way exercise his
                  vote as a Director of CAP(G);

                  ii. remove Matthew R. Hoovler, as the case may be, from office
                  as alternate Director;

                  iii.  appoint any other alternate Director; or


<PAGE>

                  iv.  resign as Director

                  before March 11, 1996, or at all should Closing A occur.

10.  CAP(G) Board

Chaparral  and  Shareholder  undertake  that they shall not  participate  in any
CAP(G)  Members'  meeting,  vote or agreement of any kind in conjunction  with a
change of the CAP(G)  Directors  until March 12, 1996,  or Closing A,  whichever
comes first.

11.  KKM Board

After  Closing A Chaparral  and CAP(D) shall  initiate a CAP(G) Board meeting or
agreement  wherein they shall vote to cause  Guntekin  Koksal to become a CAP(G)
appointed  KKM  board  member,   subject  to  Chaparral's   and  CAP(D)'s  right
subsequently  to exercise  their  CAP(G)  Board  authority,  according  to their
complete  discretion to change the composition of the CAP(G) appointed KKM board
members.

12.      Confidentiality

         a. Seller shall keep all information  regarding this Purchase Agreement
         confidential  for a period of three (3) years from the  Effective  Date
         and shall not disclose any such information to any person or entity not
         a Party to this Purchase Agreement, except:

                  (1) to an affiliate of Shareholder, provided such  Shareholder
                  maintains confidentiality as provided in this Clause 10;

                  (2) to the extent such information is required to be furnished
                  in compliance  with any  applicable  laws or  regulations,  or
                  pursuant to any legal  proceedings  or because of any order of
                  any court binding upon Shareholder;

                  (3) to the extent such information must be disclosed  pursuant
                  to any  rules  or  requirements  of any  government  or  stock
                  exchange having  jurisdiction over Shareholder,  or any of its
                  affiliates;

                  (4) to its employees, subject to taking  customary precautions
                  to ensure such data and information is kept confidential;

                  (5) any such information  which,  through no fault of a Party,
                  becomes a part of the public domain.

         (b) Disclosure  pursuant to Clause 11 (a)(1) and Clause 11 (a)(4) shall
         not be made unless prior to such  disclosure the  disclosing  Party has
         obtained a written  undertaking  from the  recipient  party to keep the
         data and information strictly confidential.



<PAGE>


13.      Applicable Law And Dispute Settlement

         a. This  Agreement  shall be governed by,  construed,  interpreted  and
         enforced in accordance with the substantive laws of Switzerland, to the
         exclusion of any conflicts of law rules which would refer the matter to
         the laws of another jurisdiction.

         b. Any dispute,  controversy  or claim arising out of or in relation to
         or in  connection  with this  Agreement or the  operations  carried out
         under this Agreement,  including  without  limitation any dispute as to
         the existence, construction, validity, interpretation,  enforceability,
         termination  or  breach of this  Agreement,  shall be  exclusively  and
         finally settled by international arbitration,  and any Party may submit
         such a dispute, controversy or claim to international arbitration.

         c. A single  arbitrator shall be appointed by unanimous  consent of the
         Parties.  If  the  Parties,  however,  cannot  reach  agreement  on  an
         arbitrator within 15 days of the submission of a notice of arbitration,
         then the appointing  authority for the implementation of such procedure
         shall be the International Chamber of Commerce's International Court of
         Arbitration,  who shall appoint an independent  arbitrator who does not
         have any financial interest in the dispute, controversy or claim.

         d. Unless otherwise expressly  agreed in writing by the  Parties to the
          arbitration proceedings:

                  (1) The  arbitration  proceedings shall  be  held  in  Geneva,
                  Switzerland.

                  (2) The arbitration  proceedings shall  be  conducted  in  the
                  English  language  and  the  arbitrator(s)  shall be fluent in
                  the English language;

                  (3) The arbitrator shall be and  remain  at all  times  wholly
                  independent and impartial;

                  (4)  The  arbitration   proceedings   shall  be  conducted  in
                  accordance with the Arbitration  Rules of UNCITRAL  ("Rules"),
                  in effect  on the  Effective  Date,  which  Rules  are  deemed
                  incorporated by reference into this clause.

                  (5) The costs of  the   arbitration   proceedings   (including
                  attorneys'  fees  and  costs)  shall  be  borne in the  manner
                  determined by the arbitrator;

                  (6) The decision of the sole  arbitrator  shall be: reduced to
                  writing  and state the reasons  upon which it is based;  final
                  and  binding  without  the  right  of  appeal;  the  sole  and
                  exclusive remedy regarding any claims,  counterclaims,  issues
                  or accounting presented to the arbitrator; carried out without
                  delay and without recourse to any judicial  proceedings in any
                  jurisdiction  whatsoever  seeking  annulment,  setting  aside,
                  modification or any diminution or impairment of its


<PAGE>


                  terms or effect;  any cash awards  shall be made and  promptly
                  paid in U.S.  dollars  free of any  deduction  or offset;  any
                  costs or fees  incident to enforcing  the award,  shall to the
                  maximum extent  permitted by law, be charged against the Party
                  resisting such enforcement;

                  (7) The  arbitrator  shall neither have nor exercise any power
                  to act as  amicable  compositeur  or ex aequo  et bono;  or to
                  award  special,  indirect,  consequential,  punitive  or other
                  similar damages; provided, however, that the award may include
                  appropriate  punitive  damages  where a Party has  engaged  in
                  delaying and dilatory  actions;  the arbitrator may also award
                  interim relief and grant specific performance.

                  (8) Any cash award shall include interest from the date of any
                  breach or violation of this  Agreement,  as  determined by the
                  arbitral  award,  and from the date of the award until paid in
                  full,  with interest at  commercial  rates to be determined by
                  the arbitrator.

                  (9) Any Party to this Covenant  which is not initially a Party
                  to an  arbitration  commenced  pursuant  to this  Paragraph  8
                  consents  to  being  made  a  party  thereto   following  such
                  commencement at the instance of any party to such arbitration,
                  and is itself  entitled  to become a party  thereto at its own
                  instance.  Every Part,v to this Covenant  shall be bound by an
                  award issued in any  arbitration  pursuant to this Paragraph 8
                  regardless  of  whether  or  not  it   participated   in  such
                  arbitration,   so  long  as  it  was  duly  notified  of  such
                  arbitration.

                  (10)  Judgment  upon the  award  may be  entered  in any court
                  having jurisdiction over the person or the assets of the Party
                  owing the  judgment or  application  may be made to such court
                  for a  judicial  acceptance  of  the  award  and an  order  of
                  enforcement, as the case may be, and

                  (11) The  arbitrator  shall not be of the same  nationality as
                  any of the Parties or their ultimate parent entities.

14.  Severance of Invalid Provisions

If and as for so long as any  provision  of this  Purchase  Agreement  shall  be
deemed to be judged invalid for any reason whatsoever, such invalidity shall not
affect  the  validity  or  operation  of any other  provision  of this  Purchase
Agreement  except  only so far as  shall  be  necessary  to give  effect  to the
construction of such invalidity,  and any such invalid provision shall be deemed
severed  from this  Purchase  Agreement  without  affecting  the validity of the
balance of this Purchase Agreement.



<PAGE>


15.  Entire Agreement

This  Agreement is the entire  agreement of the Parties and supersedes all prior
agreements, rights and/or obligations, understandings and/or negotiations of the
Parties regarding Stock A and/or Stock B.

CHAPARRAL RESOURCES, INC.

/s/ Paul V. Hoovler
-------------------------
By Paul V. Hoovler

CENTRAL ASIAN PETROLEUM (DELAWARE) LIMITED (for the purpose of Clauses 3, 12 and
13 only)


/s/ Paul V. Hoovler
------------------------
By Paul V. Hoovler


/s/ Guntekin Koksal
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Guntekin Koksal