Exhibit 10.1
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                              EMPLOYMENT AGREEMENT
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This  Employment  Agreement  is  made  and  entered  into  by and  between  Amen
Properties,  Inc.  ("Employer")  and Kris Oliver  ("Employee"),  effective as of
March 1, 2007 (the "Effective  Date").  In consideration of the mutual covenants
herein contained, and other good and valuable consideration,  the parties hereby
agree as follows:

     1.   Employer  hereby  employs   Employee,   and  Employee  hereby  accepts
          employment  from  Employer  upon the  terms and  conditions  set forth
          herein.  Employer is Amen  Properties,  Inc.  ("Amen"),  and  Employee
          acknowledges  and agrees that he will  provide  services to or for the
          benefit  of  Employer  or  their  respective   subsidiaries,   at  the
          discretion of the Board of Directors of Amen. As used herein, the term
          "Business" shall include the businesses of Amen or any such subsidiary
          to which Employee provides services

     2.   Term.  This Agreement  shall  commence the 1st day of March,  2007 and
          shall not be subject to termination except for Cause until on or after
          the  28th day of  February,  2009.  From and  after  that  date,  this
          Agreement  may be terminated by either party with or without Cause and
          shall  extend until  terminated  in  accordance  with Section 9 below.
          "Cause" shall mean either of the following:

          a.   Employee's  gross   negligence  or  willful   misconduct  in  the
               performance  of the  duties and  services  required  of  Employee
               pursuant to this Agreement;

          b.   Employee's final conviction of a felony;

     3.   Productive  Time.  Employee shall devote his entire  productive  time,
          ability and attention to the  Business,  at the office of the Business
          and at such other  locations as Employer  shall direct.  The foregoing
          notwithstanding,  the parties  recognize  and agree that  Employee may
          engage in passive personal  investments and other business activities,
          which do not  conflict  with the  business  and affairs of Employer or
          interfere with Employee's performance of his duties hereunder.

     4.   Compensation:

          a.   Salary.  Employee  shall be paid the sum of  $140,000  per annum,
               payable  semimonthly  on the  fifteenth  and the last day of each
               month during the term hereof,  pro-rated at the  beginning and at
               the termination of this  Agreement,  subject to any adjustment as
               the parties shall agree in writing.  This salary will be reviewed
               annually on the anniversary date of the Agreement by Employee and
               Employer  for   potential   adjustment   related  to  changes  in
               responsibility or market conditions.

          b.   Bonus.  Employee  shall  be paid an  annual  bonus  based  on the
               increase  in Book  Value per  share  ("BVPS")  of the  Employer's
               common stock. BVPS is calculated as year-end audited Shareholders
               Equity  (Total  Assets  minus Total  Liabilities)  divided by the
               fully diluted  number of common shares  outstanding.  The maximum
               bonus  payment that can be earned for any fiscal year is equal to
               60% of the  Employee's  annual salary for that year.  The minimum
               increase in BVPS  required to earn a bonus is 10%,  for which the
               Employee will receive a bonus of 10% of his then-current  salary.
               The increase in BVPS  required to earn the maximum  bonus is 20%.
               Employee  shall be paid a pro-rated  bonus for  increases in BVPS
               between  10%  and  20%.   The  annual  bonus  shall  be  paid  in
               semi-annual  installments.  The Employee can receive the bonus in
               cash,  restricted  stock  or  any  combination  of the  two.  The
               monetary  value  of any  portion  of the  annual  bonus  that the
               Employee  elects to receive in restricted  stock rather than cash
               shall be  adjusted  upward by 20% (for  example,  a $10,000  cash
               bonus would be equal to $12,000 in restricted  stock).  The stock
               price that shall be used to determine the number shares issued is
               the average  closing  stock price for the last twenty days of the
               period for which the bonus is being  paid.  For fiscal year 2007,
               the bonus will be based on the  increase  in BVPS for fiscal year
               2007; in 2008, the bonus will be based on the average increase in
               BVPS for fiscal years 2007 and 2008;  thereafter,  the bonus will
               be based on a three year moving average increase in BVPS.

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     5.   Insurance. Employee and Employee's spouse and dependent children shall
          be provided, free of cost, health insurance consistent with the health
          insurance  provided to key  employees of Employer as of the  Effective
          Date, but, in no event,  shall there be any decrease in the nature and
          scope of coverage and no increase in any  deductible for the insurance
          provided to Employee as of the Effective Date, unless such changes are
          common to those participating in the plan.

     6.   Reimbursable  Expenses.   During  the  term,  Employer  shall  pay  or
          reimburse  Employee for all actual,  reasonable and customary expenses
          incurred by Employee in the course of his employment;  including,  but
          not limited to,  travel,  entertainment,  office  space and  supplies,
          subscriptions  and  dues  associated  with  Employee's  membership  in
          professional,  business and civic  organizations;  provided  that such
          expenses are incurred and accounted for in accordance  with Employer's
          applicable policies and procedures.

     7.   Confidentiality. Employee shall treat all information and knowledge of
          Employee relating to Employer's Business, including without limitation
          the  customers,   customer  list,  perspective   customers,   customer
          contacts,  customer  electricity  demands  and prices,  data,  pricing
          information,  and all other  information  of Employer and its Business
          confidential  and  shall  treat  the  same for all  purposes  as trade
          secrets of Employer,  never disclosing the same to anyone or utilizing
          the same for the  benefit of  Employee  or any other  person or entity
          whomsoever.

     8.   Employer  Property.  Upon  termination  of  employment,  Employee will
          return to Employer  all records,  books,  lists,  reports,  documents,
          files,  and data stored on computers  or in any other  means,  whether
          original or copies and coming into employee's possession by or through
          his employment by Employer.

     9.   Termination.  The Employee's employment hereunder may be terminated by
          Employer or the Employee,  as  applicable,  without any breach of this
          Agreement,  only  under  the  following  circumstances  and  with  the
          following consequences:

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          a.   Automatically upon Employee's death.

          b.   By (i) Employer upon Employee's Permanent  Disability,  for Cause
               or for any reason  other than for Cause,  and (ii)  Employee  for
               Good  Reason (as  defined  herein).  As used  herein,  "Permanent
               Disability"  shall mean Employee's  physical or mental incapacity
               to perform his usual duties with such condition  likely to remain
               continuously  and  permanently  as  reasonably  determined by the
               Board of Directors of Amen in good faith.

          c.   If  Employee's  employment  is  terminated  by Employee  for Good
               Reason or by Employer for any reason  other than Cause,  Employee
               shall be entitled to each of the following:

               i.   Employer   shall  pay  to  Employee  a   severance   benefit
                    consisting  of either but not both of: 1) a single  lump sum
                    cash payment equal to one year of Employee's  base salary as
                    in  effect  at  the  date  of  Employee's   termination   of
                    employment,  Such  severance  benefit shall be paid no later
                    than sixty (60) days  following  Employee's  termination  of
                    employment;  or, 2) 12-months of salary  continuation,  paid
                    semimonthly and at the same rate as in effect at the date of
                    Employee's  termination  of  employment.   The  decision  of
                    whether to pay a 12-month  lump sum or  12-months  of salary
                    continuance is at the sole discretion of Employer.

               ii.  Employee  shall be  entitled  to any  individual  bonuses or
                    individual incentive compensation under Employer's plans, or
                    any successor  annual incentive  compensation  plan, for the
                    year of Employee's  termination of employment  determined as
                    if Employee  had  remained  employed by the Employer for the
                    entire year.  Such amounts  shall be paid to Employee at the
                    time  that  such  amounts  are  paid to  similarly  situated
                    employees.

               iii. "Good  Reason"  shall mean a  termination  of  employment by
                    Employee  because of a material  breach by  Employer  of any
                    material   provision  of  this   Agreement   which   remains
                    uncorrected for sixty (60) days following  written notice of
                    such  breach  by  Employee  to   Employer,   provided   such
                    termination   occurs   within  sixty  (60)  days  after  the
                    expiration  of  the  notice  period;  or  A  termination  of
                    employment  by  Employee  within  six  (6)  months  after  a
                    material reduction in Employee's rank or responsibility when
                    accompanied  by a reduction  in  employee's  base salary and
                    bonus as outlined herein with Employer.

     10.  Successors and Assigns.  This Agreement  shall inure to and be binding
          upon  Employer  as well as any  successor  owner  of the  business  of
          Employer.  Neither  Employer nor Employee may transfer or assign their
          responsibilities  hereunder  without the prior written  consent of the
          other  party,  which  consent  shall not be  unreasonably  withheld or
          delayed.

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     11.  Entire  Agreement.  This  constitutes  the  entire  agreement  of  the
          parties.  The terms hereof may not be modified or amended as set forth
          herein, or by written  instruments  signed by the parties sought to be
          charged thereby.


          SIGNED this 30th day of July, 2007 and effective as of Effective Date.

EMPLOYER:

AMEN PROPERTIES, INC.

By:
Jon M. Morgan, Chief Executive Officer

EMPLOYEE:

Kris Oliver



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