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EXHIBIT 4.7

                     STOCK OPTIONS TO PURCHASE COMMON STOCK

                                       OF

                         PRECIS SMART CARD SYSTEMS, INC.

                              DATE: AUGUST 23, 1999

         This is to certify that, for value received, Jeffery A. Agosta
("Optionee") is entitled to purchase, subject to the provisions of this Stock
Option (this "Option"), from PRECIS SMART CARD SYSTEMS, INC., an Oklahoma
corporation (the "Company"), up to THREE THOUSAND EIGHT HUNDRED THIRTY-ONE
shares of Common Stock, $.01 par value, of the Company (the "Stock") at an
exercise price of FIVE and 22/100 DOLLARS per share (the "Exercise Price"), for
an aggregate exercise price of NINETEEN THOUSAND NINE HUNDRED NINETY-SEVEN and
82/100 DOLLARS (the "Aggregate Exercise Price"). With the exception of any
adjustments pursuant to Section 4 of this Option, the Stock issuable upon
exercise of this Option shall be in all respects identical to the Common Stock
issued and outstanding of the Company as of the date hereof. The shares of Stock
or other securities deliverable upon such exercise, as adjusted from time to
time, are hereinafter sometimes referred to as the "Option Securities." This
Option may be exercised by the Optionee at any time in whole or in part. Unless
the context otherwise requires, the term "Option" or "Options" as used herein
includes this Option and any other Option or Options that may be issued pursuant
to the provisions of this Option, whether upon partial exercise, divisions,
combinations, exchange or otherwise.

         SECTION 1. EXERCISE OF OPTION. Subject to the provisions hereof, this
Option may be exercised in whole or in part at any time or from time to time
during the period commencing on the date hereof (the "Commencement Date") and
ending 5:00 P.M., Central Standard Time, on January 1, 2008 (the "Expiration
Date"), in accordance with Section 1.1 and/or Section 1.2 hereof. Upon such
exercise, the Company shall issue to the Optionee one or more certificates for
the Option Securities, as appropriate. If this Option is exercised in part only,
the Company shall, promptly after presentation of this Option upon such
exercise, execute and deliver a new Option evidencing the rights of Optionee to
purchase the balance of the Option Securities purchasable hereunder upon the
same terms and conditions as herein set forth.

         SECTION 1.1 CASH EXERCISE. Subject to Section 5, the Optionee may
effect a cash exercise of all or any portion of this Option by surrender of this
Option, together with the duly executed Purchase Form annexed hereto, to the
Company at its principal offices at any time prior to the Expiration Date,
accompanied by payment in cash or by certified or official bank check payable to
the order of the Company in the amount equal to Exercise Price multiplied by the
number of Option Securities specified in the Purchase Form.

         SECTION 1.2 RECEIPT OF STOCK IN LIEU OF CASH PAYMENT. Subject to
Section 5, the Optionee may effect an exercise of this Option by surrendering
this Option Agreement, together with the duly executed Purchase Form annexed
hereto, to the Company at its principal offices at any time prior to the
Expiration Date, accompanied by a certificate or certificates evidencing the
number of Mature Shares (as defined below) held by the Optionee, in which no
payment of cash will be required to the extent that the Market Value (as defined
below) of the Mature Shares equals or exceeds the total exercise price of the
number of Option Securities for which this Option is being exercised. In the
event a cash payment shall be required, such cash payment shall be determined in
accordance with Section 1.1 with respect to the number of Option Securities
having a total Exercise Price in excess of the Market Value of the Mature Shares
accompanying the Purchase Form. The number of Option Securities to be issued to
the Optionee pursuant to exercise of this Option in accordance with this Section
shall be determined by multiplying the number of Mature Shares (held by the
Optionee) by the Market Value (as defined below) of the Common Stock of the
Company and dividing such amount by the Exercise Price of the Option Securities
being purchased, less the number of Mature Shares held by the Optionee evidenced
by the certificate or certificates accompanying the Purchase Form. For purposes
of this calculation the number of Mature Shares shall be limited to that number
which when multiplied by the Market Value (as defined below) of the Common Stock
of the Company yields a value which is less than or equal to the total exercise
price of the number of Option Securities for which this Option is being
exercised. Thereafter, the Mature Shares delivered to the Company will not be
canceled, but will be redelivered to the Optionee, as well as the number of
Option Securities issuable pursuant to exercise of this Option in accordance
with this Section. For purposes hereof, (i) "Mature Shares" shall mean the
number of shares of Common Stock evidenced by the certificate or certificates
accompanying the Purchase Form that have been held by

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the Optionee for more than six months on the date of issuance of the Option
Securities pursuant to exercise of this Option and (ii) "Market Value" shall
mean, as of the close of the business day preceding the date of exercise of
this Option, (A) if the Common Stock is listed for trading on a national or
regional stock exchange or is included on the Nasdaq National Market or
SmallCap Market, the closing sale price quoted on such exchange or the Nasdaq
National Market or SmallCap Market which is published in THE WALL STREET
JOURNAL for the trading day immediately preceding the date of exercise, or if
no trade of the Common Stock shall have been reported on such date, the last
sale price so quoted for the next day prior thereto on which a trade in the
Common Stock was so reported or (B) if the Common Stock is not so listed or
admitted to trading or included on a national or regional stock exchange, the
Nasdaq National Market or Nasdaq SmallCap Market, the average of the closing
highest reported bid and lowest reported ask price as quoted on the National
Association of Securities Dealer's OTC Bulletin Board or in the "pink sheets"
published by the National Daily Quotation Bureau for the business day
immediately preceding the date of exercise on which the Common Stock is traded
or, if no trade of the Common Stock shall have been reported on such date, the
last sale price so quoted for the next day prior thereto on which a trade in
the Common Stock was quoted.

         SECTION 2. RESERVATION OF SHARES. The Company shall at all times after
the Commencement Date and until expiration of this Option reserve for issuance
and delivery upon exercise of this Option the number of Option Securities as
shall be required for issuance and delivery upon exercise of this Option.

         SECTION 3. NON-TRANSFERABILITY OF THIS OPTION. Except as otherwise
herein provided, this Option shall not be transferable other than to Optionee's
Family Members (as defined below), or otherwise than by will or the laws of
descent and distribution. More particularly (but without limiting the generality
of the foregoing), this Option may not be assigned, transferred (except as
provided above), pledged or hypothecated in any way, shall not be assignable by
operation of law and shall not be subject to execution, attachment, or similar
process. Any attempted assignment, transfer, pledge, hypothecation or other
disposition of this Option contrary to the provisions hereof shall be null and
void and without effect. For purposes hereunder, the term Family Members shall
include any child, stepchild, grandchild, parent, stepparent, grandparent,
spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
sone-in-law, daughter-in-law, brother-in-law, or sister-in-law, including
adoptive relationships, any person sharing the Optionee's household (other than
a tenant or employee), a trust in which these persons have more than 50% of the
beneficial interest, a foundation in which these persons (or the Optionee)
control the management assets, and any other entity in which these persons (or
the Optionee) own more than 50% of the voting interests.

         SECTION 4. ADJUSTMENT IN THE NUMBER, KIND AND PRICE OF OPTION
SECURITIES. The number and kind of Option Securities purchasable upon exercise
of this Option shall be subject to adjustment from time to time upon the
occurrence, after the date hereof, of the following events:

         4.1 In the event the Company shall (i) pay a dividend in, or make a
distribution of, shares of Stock or of capital stock convertible into Stock on
its outstanding Stock, (ii) subdivide its outstanding shares of Stock into a
greater number of such shares, or (iii) combine its outstanding shares of Stock
into a smaller number of such shares, the total number of shares of Stock
purchasable upon the exercise of this Option immediately prior thereto shall be
adjusted so that the Optionee shall be entitled to receive at the same Aggregate
Exercise Price the number of shares of Stock and the number of shares of capital
stock convertible into Stock which such Optionee would have owned or have been
entitled to receive immediately following the happening of such event. Any
adjustment made pursuant to this Subsection shall, in the case of a stock
dividend or distribution or a stock issuance, become effective as of the record
date therefor and, in the case of a subdivision or combination, be made as of
the effective date thereof.

         4.2 In the event of any adjustment of the total number of shares of
Stock purchasable upon the exercise of this Option pursuant to Subsection 4.1,
the Aggregate Exercise Price shall remain unchanged, but the number of shares of
capital stock or Option Securities obtainable on exercise of this Option, and
the per share exercise price shall be adjusted as provided in Subsection 4.1.

         4.3 In the event of a capital reorganization or a reclassification of
the Stock (except as provided in Subsection 4.1 or Subsection 4.4), the
Optionee, upon exercise thereof, shall be entitled to receive, in lieu of the
Stock to which he would have become entitled upon exercise immediately prior
to such reorganization or reclassification, the shares (of any class or
classes) or other Option Securities or property of the Company (or cash) that
the Optionee would have been entitled to receive at the same Aggregate
Exercise Price upon such reorganization or reclassification if this Option had
been exercised immediately prior thereto; and in any such case, appropriate
provision shall be made for the application of this Section 4 with respect to
the rights and interests

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thereafter of the Optionee (including, but not limited to, the allocation of
the Aggregate Exercise Price between or among the Option Securities), to the
end that this Section 4 (including the adjustments of the number of shares of
Stock or other Option Securities purchasable) shall thereafter be reflected,
as nearly as reasonably practicable, in all subsequent exercises of this
Option for any shares or other Option Securities or other property (or cash)
thereafter deliverable upon the exercise of this Option.

         4.4 In case of any consolidation of the Company with, or merger of the
Company with, or merger of the Company into, another corporation (other than a
consolidation or merger which does not result in any reclassification or change
of the outstanding Stock), or in case of any sale or conveyance to another
corporation of the property of the Company as an entirety or substantially as an
entirety, the corporation formed by such consolidation or merger or the
corporation which shall have acquired such assets, as the case may be, shall
execute and deliver to the Optionee a supplement to this Option or a new option
providing that the Optionee shall have the right thereafter (until the
Expiration Date) to receive, upon exercise of this Option or any new option, at
the same Aggregate Exercise Price, solely the kind and amount of shares of
Option Securities and property (or cash) receivable upon such consolidation,
merger, sale or transfer by the Optionee for the number and kind of Option
Securities for which this Option might have been exercised immediately prior to
such consolidation, merger, sale or transfer. Such supplemental option or new
option shall provide for adjustments which shall be as nearly equivalent as may
be practicable to the adjustments provided in this Section. The above provision
of this Subsection 4.4 shall similarly apply to successive consolidations,
mergers, sales or transfers.

         4.5 Whenever the Option Securities purchasable upon exercise of this
Option are modified as provided in Subsection 4.1 or 4.4 (provided that any such
modifications shall not change or extend the expiration date of this Option),
the Company will promptly deliver to the Optionee a certificate signed by the
Chairman of the Board, Chief Executive Officer or the President, or a Vice
President of the Company and by the Treasurer or an Assistant Treasurer or the
Secretary or an Assistant Secretary of the Company setting forth the number and
kind of Option Securities purchasable and the other property (including cash)
receivable by the Optionee upon exercise of this Option or any supplemental or
new option. Such certificate will state that such adjustments in the kind of
purchasable Option Securities and other property (including cash) receivable by
the Optionee upon exercise of this Option conform to the requirements of this
Section 4, and setting forth a brief statement of the facts accounting for such
adjustments. In the event, the Optionee does not agree with such determination
of the Board of Directors of the Company as set forth in the certificate, the
Company shall retain a firm of independent public accountants acceptable to the
Optionee to make any computation required under this Section 4, and a
certificate signed by such firm shall be conclusive evidence of the correctness
of any computation made under this Section 4.

         SECTION 5. SERVICE REQUIREMENT. Omitted.

         SECTION 6. NOTICE OF CERTAIN CORPORATION ACTION. In case the Company
after the date hereof shall propose to effect any consolidation or merger to
which the Company is a party and for which approval of any shareholders of the
Company is required, or any sale, transfer or other disposition of its property
and assets substantially as an entirety, or the liquidation, voluntary or
involuntary dissolution or winding-up of the Company, then, in each such case,
the Company shall mail (by first-class, postage prepaid mail) to the Optionee
notice of such proposed action, which notice shall specify the date on which
such reclassification, reorganization, consolidation, merger, sale, transfer,
other disposition, liquidation, voluntary or involuntary dissolution or
winding-up shall take place or commence, as the case may be, and which shall
also specify any record date for determination of holders of the capital stock
of the Company entitled to vote thereon or participate therein and shall set
forth such facts with respect thereto as shall be reasonably necessary to
indicate any adjustments in the number or kind of Option Securities purchasable
upon exercise of this Option which will be required as a result of such action,
and the Optionee may thereafter exercise this Option. Such notice shall be filed
and mailed in the case of any action covered by this Section 6, at least 20 days
prior to the earlier of (i) the date on which such reclassification,
reorganization, consolidation, merger, sale, transfer, other disposition,
liquidation, voluntary or involuntary dissolution or winding-up is expected to
become effective, (ii) the date on which it is expected that holders of shares
of the capital stock of record on such date shall be entitled to exchange their
shares for securities or other property deliverable upon such reclassification,
reorganization, consolidation, merger, sale, transfer, other disposition,
liquidation, voluntary or involuntary dissolution or winding-up, or (iii) the
record date for determination of holders of the capital stock of the Company
entitled to vote on such action or participate in such action. Failure of the
Optionee to exercise this Option in whole or in part prior to any corporate
action as described in this Section 6 shall not affect or alter the rights of
the Optionee as set forth in this Option.

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         SECTION 7. RESTRICTED SECURITIES. All of the Option Securities subject
to this Option are being acquired by the Optionee for his own investment purpose
and not with a view to, or for resale in connection with, any distribution of
the Option Securities or with any intention of further distribution. The
Optionee understands that the Option Securities have not been registered under
the Securities Act of 1933 (the "Act") or the securities laws of any state
(collectively called the "Securities Laws") and will be issued in reliance upon
certain exemptions from the registration requirements of such Securities Laws
for non-public offerings. The Optionee hereby acknowledges that the Option
Securities are "Restricted Securities" as defined under the Act and Rule 144
promulgated thereunder and may not be transferred, and that the Company will not
be required to approve any such transfer, unless and until the Company shall
have been informed of the proposed transfer and i) the Optionee has obtained an
opinion of counsel, in form and content satisfactory to the Company and its
counsel, that no violation of the Act or any other applicable law will be
involved in such transfer, and or other such documentation in connection
therewith as counsel for the Company may require as a condition precedent in
order to make a determination that the transfer will involve no such violation;
or ii) the transfer shall be governed by the provisions of Rule 144, Rule 701 or
any other rule promulgated under the Act, in a manner satisfactory to the
Company's counsel. The Optionee agrees that the Company is under no obligation
to register the Option Securities on behalf of the Optionee or to assist him in
complying with any exemption from their registration, except as otherwise
provided herein. The Optionee agrees that the following legend may be placed on
any certificates delivered to him representing the Option Securities in order to
give notice of the transfer restrictions set forth in this agreement and that
the Company may instruct its transfer agent not to transfer any of the Option
Securities until it has received written approval from the Company.

         "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT
         TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
         AMENDED (THE "ACT"), AND MAY NOT BE OFFERED FOR SALE, SOLD OR OTHERWISE
         TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT OR AN
         EXEMPTION UNDER THE ACT TO BE ESTABLISHED TO THE SATISFACTION OF THE
         COMPANY. THE SALE, IF ANY, OF THESE SHARES SHALL BE GOVERNED BY THE
         PROVISIONS OF RULE 144 OR ANY OTHER APPLICABLE RULE PROMULGATED BY THE
         SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS
         AMENDED."

         SECTION 8. TAX WITHHOLDINGS. The Company's obligation to deliver the
Option Securities upon the exercise of this Option may be subject to the
satisfaction of all applicable federal, state and local income tax withholding
requirements. Subject to approval by the Board of Directors of the Company, the
Optionee may, in his discretion, use cash payment or shares of Common Stock or
other Option Securities in satisfaction of all or part of the required federal,
state and local income tax withholding incurred by the Optionee in connection
with the exercise of this Option ("Taxes") by any one or a combination of the
following methods: (i) the Optionee may make a cash payment to the Company, (ii)
the Optionee may have the Company withhold from the Option Securities otherwise
issuable upon exercise of this Option a portion of those Option Securities with
an aggregate Market Value equal to the amount of such Taxes (not to exceed 100
percent of such Taxes) as designated by the Optionee, and (iii) the Optionee may
deliver to the Company, at the time the Option is exercised, one or more shares
of Mature Shares held by the Optionee (other than pursuant to the transaction
triggering the Taxes) with an aggregate Market Value equal to such Taxes (not to
exceed 100 percent of such Taxes). The Mature Shares, if applicable, delivered
by the Optionee to the Company in payment of all or any portion of the Taxes
shall be canceled by the Company upon receipt.

         SECTION 9. GOVERNING LAW. This Option shall be construed in accordance
with the laws of the State of Oklahoma applicable to contracts executed and to
be performed wholly within such state.

         SECTION 10. NOTICE. Notices and other communications to be given to
Optionee shall be delivered by hand or by first-class mail, postage prepaid, to

                                Jeffrey A. Agosta
                          C/O Devon Energy Corporation
                          20 North Broadway, Suite 1500
                       Oklahoma City, Oklahoma 73102-8171


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(until another address is filed in writing by the Optionee with the Company).
Notices or other communications to the Company shall be deemed to have been
sufficiently given if delivered by hand or by first-class mail, postage prepaid
to the Company at

                         PRECIS SMART CARD SYSTEMS, INC.
                          2500 McGee Street, Suite 147
                             Norman, Oklahoma 73072

or such other address as the Company shall have designated by written notice to
Optionee as herein provided. Notice by mail shall be deemed given when deposited
in the United States mail, postage prepaid, as herein provided.

         SECTION 11. SUCCESSORS. All the covenants and provisions of this Option
by or for the benefit of the Company shall bind and inure to the benefit of its
successors and assigns hereunder, and all covenants and provisions of this
Option by or for the benefit of the Optionee shall bind and inure to the benefit
of the Optionee.

         SECTION 12. TERMINATION. This Agreement shall terminate as of the close
of business on the Expiration Date, or such earlier date upon which this Option
shall have been exercised in full.

         SECTION 13. BENEFITS OF THIS AGREEMENT. Nothing in this Option shall be
construed to give to any person or corporation other than the Company, and its
respective successors and assigns hereunder and the Optionee any legal or
equitable right, remedy or claim under this Option, but this Option shall be for
the sole and exclusive benefit of the Company and its respective successors and
assigns hereunder and the Optionee.

         IN WITNESS WHEREOF, Company has executed this Stock Option on the date
first above written.

                              PRECIS SMART CARD  SYSTEMS, INC.


                              By: /s/ LARRY E. HOWELL
                                  Larry E. Howell, Chief Executive Officer












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                          PURCHASE FORM (CASH EXERCISE)
        (TO BE EXECUTED BY THE OPTIONEE IF EXERCISED IN WHOLE OR IN PART)

To: PRECIS SMART CARD SYSTEMS, INC.
         The undersigned ______________________________________________________
                          Please insert name of Optionee
hereby irrevocably elects, pursuant to Section 1.1 of the Option, to exercise
the right of purchase represented by the Stock Option (the "Option") to which
this Purchase Form is attached, for, and to purchase thereunder, _____________
____________________(_______________) shares of Common Stock provided for
therein and tenders payment herewith to the order of PRECIS SMART CARD
SYSTEMS, INC. in the amount of $________. The undersigned requests that
certificates for such shares of Common Stock be issued as follows:
Name:
     ---------------------------------------------------------------------------
Address:
        ------------------------------------------------------------------------
Deliver to:
           ---------------------------------------------------------------------
Address:
        ------------------------------------------------------------------------
and if said number of shares of Common Stock shall not be all the shares of
Common Stock purchasable thereunder, that a new Stock Option for the balance
remaining of shares of Common Stock purchasable under the Option be registered
in the name of, and delivered to the undersigned at the address stated below:
Name:
     ---------------------------------------------------------------------------
Address:
        ------------------------------------------------------------------------
Deliver to:
           ---------------------------------------------------------------------
Address:
        ------------------------------------------------------------------------

Dated:                   ,         Signature
      -------------------  ----

                                            ------------------------------------
                                            (Signature must conform in all
                                            respects to the name of Optionee as
                                            specified on the face of the Stock
                                            Option in every particular, without
                                            alteration, enlargement or any
                                            change whatever.)













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             PURCHASE FORM (STOCK IN LIEU OF CASH PAYMENT EXERCISE)
             ------------------------------------------------------
        (TO BE EXECUTED BY THE OPTIONEE IF EXERCISED IN WHOLE OR IN PART)

To: PRECIS SMART CARD SYSTEMS, INC.
         The undersigned ______________________________________________________
                          Please insert name of Optionee
hereby irrevocably elects, pursuant to Section 1.2 of the Option, to exercise
the right of purchase represented by the Stock Option (the "Option") to which
this Purchase Form is attached, for, and to purchase thereunder,_____________
____________________(_______________) shares of Common Stock provided for
therein and tenders payment herewith shares of Common Stock of the Company
held by the Optionee as evidenced by the certificate or certificates
accompanying this Purchase Form. The undersigned requests that certificates
for such shares of Common Stock be issued as follows:
Name:
     ---------------------------------------------------------------------------
Address:
        ------------------------------------------------------------------------
Deliver to:
           ---------------------------------------------------------------------
Address:
        ------------------------------------------------------------------------
and if said number of shares of Common Stock shall not be all the shares of
Common Stock purchasable thereunder, that a new Stock Option for the balance
remaining of shares of Common Stock purchasable under the Option be registered
in the name of, and delivered to the undersigned at the address stated below:

Name:
     ---------------------------------------------------------------------------
Address:
        ------------------------------------------------------------------------
Deliver to:
           ---------------------------------------------------------------------
Address:
        ------------------------------------------------------------------------

Dated:                   ,         Signature
      -------------------  ----

                                            ------------------------------------
                                            (Signature must conform in all
                                            respects to the name of Optionee as
                                            specified on the face of the Stock
                                            Option in every particular, without
                                            alteration, enlargement or any
                                            change whatever.)










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