Document:

Occidental Energy Marketing,
      Inc.

                      A
      subsidiary of Occidental Petroleum Corporation

                    

                  	
                    5
      Greenway Plaza, Suite 110, Houston, Texas 77046-0521

                      P.O.
      Box 27570, Houston, Texas 77227-7570

                        Phone
      713.215.7000

                      

                    

                  

          

        

      

    

    

    CRUDE
OIL CONTRACT

    

    VIA
FAX:

    

    
      	
              TO:

            	
              Reef
      Exploration, L.P.

            
	 
      	
              Attn:
      Contract Management Services

            
	 
      	
              Fax:
      (972) 994-0369

            
	 
      	
              Trader:
      Ronald Sentz

            

    

    

    
      	
              FROM:

            	
              Occidental
      Energy Marketing, Inc.

            
	 
      	
              5
      Greenway Plaza, Suite 110

            
	 
      	
              Houston,
      TX 77046-0521

            
	 
      	
              Trader:
      Randy Geller

            
	 
      	 
      
	 
      	
              Contract
      date: March 13, 2008

            

    

    

    This
contract is entered into by and between Occidental Energy Marketing, Inc.
(“OEMI”) and Reef Exploration, L.P. (“Counterparty”) on the Transaction Date
specified below covering the crude oil transaction described below (the
“Transaction”).

    

    The terms
of the particular Transaction to which this Contract relates are as
follows:

    

    
      
        
          	
                  OEMI
      Contract #

                	
                  0802-REX-131637-P

                
	
                  Counterparty
      Contract #

                	 
      
	
                  Commodity:

                	
                  Crude
      Oil

                
	
                  Transaction
      Date:

                	
                  March
      13, 2008

                
	 
      	 
      
	
                  PART
      A:

                	
                  OEMI
      Receives From Counterparty

                
	
                  Buyer:

                	
                  OEMI

                
	
                  Seller:

                	
                  Reef
      Exploration, L.P.

                
	
                  Delivery
      Period:

                	
                  February
      1, 2008 through February 29, 2008 and continuing month to month subject to
      thirty (30) day advance written notice of cancellation.

                
	
                  Quantity
      (BBLS/Day):

                	
                  Equal
      to production from lease(s) on Exhibit “A”. Approximately 110
      bpd.

                
	
                  Price
      (US$/BBL) (A):

                	
                  Plains
      WTI + Argus P-Plus + Argus Sour Differential less lease delta on Exhibit
      “A”.

                
	
                  Crude
      Type:

                	
                  West
      Texas Sour

                
	
                  Delivery
      Point/Carrier

                	
                  At
      the lease into OET’s designated transporter’s trucks or
      pipeline.

                

        

      

    

    (A)
Pricing Terms Defined in Exhibit B.

    

    Exchange and Buy/Sell
Contracts: If this Agreement is an exchange or buy/sell contract, OEMI’s
delivery of crude oil under Part B above is done only in consideration of and is
contingent on OEMI’s receipt of crude oil as set forth in Part A
above.

    

    Payment: Payment shall be made
by wire transfer of immediately available funds to the account set forth on
Seller’s invoice. If a Master Netting Agreement is in effect between OEMI and
Counterparty (a “Netting Agreement”) and such agreement covers the transactions
entered into under this Agreement, payment shall be subject to the terms of the
Netting Agreement. If no Netting Agreement is in effect between the parties or
if the Netting Agreement is terminated in accordance with its terms, then
payment shall be made in accordance with the Conoco General Provisions, Domestic
Crude Oil Agreements, effective January 1, 1993.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Recording of Conversations:
Each party (i) consents to the recording of telephone conversations between the
trading, marketing and other relevant personnel of the parties in connection
with this Agreement or any potential crude oil transaction between the parties;
(ii) agrees to obtain any necessary consent of, and give any necessary notice of
such recording to, its relevant personnel; and (iii) agrees, to the extent
permitted by applicable law, that recordings may be submitted in evidence in any
proceedings between the parties with respect to this Agreement.

    

    Amendments: No amendments or
modification to this Agreement shall be effective unless in writing and mutually
agreed to by both parties hereto.

    

    General Terms and Conditions:
Conoco General Provisions, Domestic Crude Oil Agreements, effective January 1,
1993, are incorporated herein by reference and made a part hereof. To the extent
of any conflict between the provisions herein and the General Provisions, the
provisions herein shall govern. All invoices and notices given pursuant to this
agreement shall be in writing, telex or taxed and shall be deemed delivered when
received by the other party at the address specified below.

    

    Notices: Notices and all other
correspondence to the parties shall be mailed or faxed as follows:

    

    
      
        
          	
                  Occidental
      Energy Marketing, Inc.

                	
                  Reef
      Exploration, L.P.

                
	
                  P.
      O. Box 27570

                	
                  1901
      N. Central Expressway, Suite 300

                
	
                  Houston,
      Texas 77227-7570

                	
                  Dallas,
      TX 75080

                
	
                  Phone:
      (713) 215-7703

                	
                  Phone:
      (972) 437-6792

                
	
                  Fax:
      (713) 985-1440

                	
                  Fax:
      (972) 994-0369

                

        

      

    

    

    Invoices
shall be mailed or faxed to the parties as follows:

    

    
      
        
          	
                  Occidental
      Energy Marketing, Inc.

                	
                  Reef
      Exploration, L.P.

                
	
                  P.
      O. Box 27570

                	
                  1901
      N. Central Expressway, Suite 300

                
	
                  Houston,
      Texas 77227-7570

                	
                  Dallas,
      TX 75080

                
	
                  Phone:
      (713) 366-5345

                	
                  Phone:
      (972) 437-6792

                
	
                  Fax:
      (713) 985-1377

                	
                  Fax:
      (972) 994-0369

                

        

      

    

    

    Entire Agreement: This fax
evidences our understanding of the entire agreement between OEMI and
Counterparty and shall constitute the formal contract. Please acknowledge your
acceptance of and agreement to the terms stated herein by signing below as
indicated, indicate your contract number in the appropriate blank above and
return this agreement by fax to Sonia Escobedo (fax: 713-985-1440). Unless we
receive notice of your objections within five (5) business days, we will
consider this agreement as final and binding on both parties.

    

    The
parties agree that faxed documents shall be deemed admissible as primary
evidence in a court of law as original or as counterparts of the original
documents, each of which shall be retained by each party and available for
inspection by the other party.

    

    Regards,

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                	
                                        Occidental
      Energy Marketing, Inc.

                                      	 
      	
                                        Reef
      Exploration, L.P.

                                      
	 
      	 
      	 
      
	
                                        By:

                                      	
                                        

                                      	 
      	
                                        By:

                                      	
                                        
                                          

                                        

                                      
	 
      	 
      	 
      	 
      	 
      
	
                                        Name:

                                      	
                                        Stephen
      J. Rafferty

                                      	 
      	
                                        Name:

                                      	
                                        H.
      Walt Dunagin

                                      
	 
      	 
      	 
      	 
      	 
      
	
                                        Title:

                                      	
                                        Vice
      President

                                      	 
      	
                                        Title:

                                      	
                                        E.V.P

                                      
	 
      	 
      	 
      	 
      	 
      
	
                                        Date:

                                      	 
      	 
      	
                                        Date:

                                      	
                                        3-25-08

                                      

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
“A”

    

    OEMI’s
CONTRACT: 0802-REX-131637-P

    Counter
Party Name: Reef Exploration, L.P.

    Counter
Party Contract Number:

    Allegro
Contract Number: 131637

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        	
                                                INTERFACE

                                              	  	
                                                PRODUCT

                                              	  	
                                                OPERATOR

                                              	  	
                                                LEASE NAME

                                              	  	
                                                LEASE EFFECTIVE DATE

                                              	  	
                                                CONTROLLED

                                                           
      %

                                              	  	
                                                COUNTY

                                              	  	
                                                STATE

                                              	  	
                                                TRANSPORTER

                                              	  	
                                                DELTA

                                              	  	
                                                CONTRACT

                                              	  	
                                                PRICE INDEX

                                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 	 
      	 
      	 
      	 
      
	
                                                742070900000SITR

                                              	 
      	
                                                WTS

                                              	 
      	
                                                Reef
      Exploration, L P.

                                              	 
      	
                                                DEAN
      /B/ OPERATING AREA

                                              	 
      	
                                                2/1/2008

                                              	 
      	
                                                100.00000000

                                              	 
      	
                                                COCHRAN

                                              	 
      	
                                                TX

                                              	 
      	
                                                Mission
      Petroleum Trucks

                                              	 
      	
                                                $

                                              	
                                                1.47 

                                              	 
      	
                                                131637

                                              	 
      	
                                                Plains+ArgusP-ArgusWTIC/WTS

                                              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 	 
      	 
      	 
      	 
      
	
                                                742070910000SDTR

                                              	 
      	
                                                WTS

                                              	 
      	
                                                Reef
      Exploration, L P.

                                              	 
      	
                                                DEAN
      /K/ (TR 1 DEAN /B/ OP AREA)

                                              	 
      	
                                                2/1/2008

                                              	 
      	
                                                l00.00000000

                                              	 
      	
                                                COCHRAN

                                              	 
      	
                                                TX

                                              	 
      	
                                                Mission
      Petroleum Trucks

                                              	 
      	
                                                $

                                              	
                                                1.47

                                              	 
      	
                                                131637

                                              	 
      	
                                                Plains+ArgusP-ArgusWTIC/WTS

                                              
	 
      	 
      	
                                                 
      

                                              	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 	 
      	 
      	 
      	 
      
	
                                                742070920000SITR

                                              	 
      	
                                                WTS

                                              	 
      	
                                                Reef
      Exploration, L P

                                              	 
      	
                                                DEAN
      UNIT-SPI

                                              	 
      	
                                                2/1/2008

                                              	 
      	
                                                100.00000000

                                              	 
      	
                                                COCHRAN

                                              	 
      	
                                                TX

                                              	 
      	
                                                Mission
      Petroleum Trucks

                                              	 
      	
                                                $

                                              	
                                                1.56

                                              	 
      	
                                                131637

                                              	 
      	
                                                Plains+ArgusP-ArgusWTIC/WTS

                                              

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
“B”

    

    Plains WTI + Argus P-Plus +
Argus Sour Differential

    

    “Plains
WTI” means Plains Marketing, L.P. monthly EDQ posted price for West Texas
Intermediate deemed 40 degrees.

    

    “Argus
P-Plus” means the average of daily quotations of “Wtd Avg” differential
assessment for the prompt month Postings-Plus as reported in the Argus Report
for Grade Trading Days.

    

    “Argus
Sour Diff” means the average of daily quotations of the “Wtd Avg” differential
assessment for prompt month WTS as reported in the Argus Report for Grade
Trading Days.

    

    “Argus”
means Argus Media Ltd.

    

    “Argus
Report” means the daily Argus Americas Crude report published by
Argus.

    

    “Grade
Trading Days” means for a given delivery month the trading days beginning on the
26th of the second month preceding the delivery month and ending on the 25th of
the month preceding the delivery month.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              	
                      

                    	
                      Occidental Energy Marketing,
      Inc.

                        A
      subsidiary of Occidental Petroleum Corporation

                      

                    	
                      5
      Greenway Plaza, Suite 110, Houston, Texas 77046-0521

                        P.O.
      Box 27570, Houston, Texas 77227-7570

                          Phone
      713.215.7000

                        

                      

                    

            

          

        

      

       

      CRUDE
OIL CONTRACT AMENDMENT No. 1

    

    

    VIA
FAX:

    

    
      	
              TO:

            	
              Reef
      Exploration, L.P.

            
	 
      	
              Attn:
      Contract Management Services

            
	 
      	
              Fax:
      (972) 994-0369

            
	 
      	
              Trader:
      Ronald Sentz

            
	 
      	 
      
	
              FROM:

            	
              Occidental
      Energy Marketing, Inc.

            
	 
      	
              Trader:
      Mark Hafner

            
	 
      	 
      
	
              RE:

            	
              Occidental
      Contract #
      0802-REX-131637-P                   
      Amendment #1

            

    

    

    This
Amendment Number 1 to the Crude Oil Contract between Occidental Energy
Marketing, Inc. (“OEMI”) and Reef Exploration, L.R. (“Counterparty”) dated
February, 2008 (the “Contract”)
is entered into as of June 24, 2008.

    

    For good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged and agreed, the Parties agree that the Contract is hereby amended
effective July 1, 2008 as set forth below.

    

    Change
the lease delta on the following lease(s) on the contract and Exhibit
“A”:

    

    
      
        
          
            
              	
                      Lease Name

                    	 	
                      Old Delta

                    	 	 	
                      New Delta

                    	 
	
                      Dean
      /B/ Operating Area

                    	 	$	1.47	 	 	$	1.87	 
	
                      Dean
      Unit. SPI

                    	 	$	1.56	 	 	$	1.96	 
	
                      Dean
      /K/ (Tr 1 Dean /B/Op Area)

                    	 	$	1.47	 	 	$	1.87	 

            

          

        

      

    

    

    All other
terms of the agreement are unchanged.

    

    Agreed to
and approved by:

    OEMI

     

    
      
        
          
            
              
                
                  	
                          

                        	 
	
                          Mark
      Hafner

                        
	
                          Director,
      Crude Oil
Acquisitions

                        

                

              

            

          

        

      

    

     

    Agreed to
and approved by:

    Reef
Exploration, L.P.

    

    
      
        
          
            
              
                
                  	
                          

                        	 
	
                          Exec.
      V.P.

                        

                

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
“A”

    

    OEMI’s
CONTRACT: 0802-REX-131637-P#1

    Counter
Party Name: Reef Exploration, L.P.

    Counter
Party Contract Number:

    Allegro
Contract Number: 131637

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      	
                                                              INTERFACE

                                                            	  	
                                                              PRODUCT

                                                            	  	
                                                              OPERATOR

                                                            	  	
                                                              LEASE NAME

                                                            	  	
                                                              LEASE

                                                              EFFECTIVE

                                                              DATE

                                                            	  	
                                                              CONTROLLED %

                                                            	  	
                                                              COUNTY

                                                            	  	
                                                              STATE

                                                            	  	
                                                              TRANSPORTER

                                                            	  	
                                                              DELTA

                                                            	  	
                                                              DELTA

                                                              EFFECTIVE

                                                              DATE

                                                            	 	
                                                              CONTRACT

                                                            	  	
                                                              PRICE INDEX

                                                            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 	 
      	 	 	 
      	 
      	 
      
	
                                                              742070900000SITR

                                                            	 
      	
                                                              WTS

                                                            	 
      	
                                                              Reef
      Exploration, L P.

                                                            	 
      	
                                                              DEAN
      /B/ OPERATING AREA

                                                            	 
      	
                                                              2/1/2008

                                                            	 
      	
                                                              100.00000000

                                                            	 
      	
                                                              COCHRAN

                                                            	 
      	
                                                              TX

                                                            	 
      	
                                                              Mission
      Petroleum Trucks

                                                            	 
      	
                                                              $

                                                            	
                                                              1.37

                                                            	 
      	
                                                              7/1/2008

                                                            	 	
                                                              131637

                                                            	 
      	
                                                              Plains+ArgusP-ArgusWTIC/WTS

                                                            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 	 
      	 	 	 
      	 
      	 
      
	
                                                              742070910000SDTR

                                                            	 
      	
                                                              WTS

                                                            	 
      	
                                                              Reef
      Exploration, L P.

                                                            	 
      	
                                                              DEAN
      /K/ (TR 1 DEAN/B/OP AREA)

                                                            	 
      	
                                                              2/1/2008

                                                            	 
      	
                                                              l00.00000000

                                                            	 
      	
                                                              COCHRAN

                                                            	 
      	
                                                              TX

                                                            	 
      	
                                                              Mission
      Petroleum Trucks

                                                            	 
      	
                                                              $

                                                            	
                                                              1.37

                                                            	 
      	
                                                              7/1/2008

                                                            	 	
                                                              131637

                                                            	 
      	
                                                              Plains+ArgusP-ArgusWTIC/WTS

                                                            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 	 
      	 	 	 
      	 
      	 
      
	
                                                              742070920000SITR

                                                            	 
      	
                                                              WTS

                                                            	 
      	
                                                              Reef
      Exploration, L P

                                                            	 
      	
                                                              DEAN
      UNIT-SPI

                                                            	 
      	
                                                              2/1/2008

                                                            	 
      	
                                                              100.00000000

                                                            	 
      	
                                                              COCHRAN

                                                            	 
      	
                                                              TX

                                                            	 
      	
                                                              Mission
      Petroleum Trucks

                                                            	 
      	
                                                              $

                                                            	
                                                              1.56

                                                            	 
      	
                                                              7/1/2008

                                                            	 	
                                                              131637

                                                            	 
      	
                                                              Plains+ArgusP-ArgusWTIC/WTSCONSULTING
AGREEMENT

    

    This
Consulting Agreement (the “Agreement”) is entered into effective as of September
1, 2006 (the “Effective Date”), between Reef Exploration, L.P., a Texas limited
partnership (the “Company”) and William R. Dixon, dba, DXN Associates, (the
“Consultant”). Company and Consultant may be referred to collectively in this
Agreement as the “Parties” or individually as a “Party.” The Parties desire to
enter into an agreement setting forth the terms and conditions under which
Consultant will provide services to Company. For and in consideration of the
mutual covenants and agreements set out in this Agreement, the Parties agree as
follows:

    

    1. Consultant Services. Consultant represents that he is qualified
and has sufficient experience and expertise to review and evaluate exploration,
exploitation and development drilling opportunities as well as producing
property evaluations and to provide Company with an evaluation and analysis to
enable the Company to determine whether or not it wishes to acquire any of such
properties.

    

    Consultant
will review for the Company, all properties that are relatively close in, low
risk, and that have some kind of a downdip show. This criteria may be altered
and amended from time to time by written notice to Consultant. Consultant agrees
to give Company the first right of refusal on all prospects that it reviews that
fit within the Company’s criteria, as may be amended (a
“prospect”).

    

    Consultant
shall devote sufficient time to his duties hereunder to locate and provide the
Company with prospects and provide a sufficient review and analysis of such
prospects to minimize the time spent by Company in making its determination
whether or not to come to Consultant’s offices in Midland to make a further
review.

    

    2. Term. This Agreement shall commence on the
Effective Date and shall continue for a period of one year (the “Initial Term”)
unless sooner terminated pursuant to Article 8 hereof. The term of this
Agreement will be automatically extended thereafter (the “Extended Term”) until
such time as either Party terminates it upon 30 days written notice, unless
sooner terminated pursuant to Article 8 hereof.

    

    3.
Compensation.

    3.1 Consulting Fee. Company shall pay Consultant during the term
of this Agreement the sum of $11,250.00 per month in advance on the first of
each month. This fee may be offset by any amounts due and owing by Consultant to
Company whether such amounts arise out of this Agreement or unrelated
transactions between the Parties. Consultant shall not be an employee of Company
and shall not participate in any group health, accident and life insurance
plans, or any pension or other benefit plan sponsored by Company.

    

    3.2
Expenses.

    
      	
               
      

            	
              a.

            	
              Company
      shall acquire the following equipment for Consultant’s use. Consultant
      shall provide Company the necessary equipment specifications for each
      item.

            

    

    1.
Desktop PC with dual screens and supporting hardware and software

    2. A 36
inch (minimum) or 42 inch large-scale color printer (plotter)

    3. An
electric log copier/scanner

    4. A
black and white, computer-compatible copier capable of 11/17 prints

    

    All
equipment provided by the Company for use by Consultant shall remain the
property of Company and shall, upon request to do so, be returned to the
Company.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    b.           Company
shall establish a revolving account with Consultant to reimburse Consultant for
all third party and other expenses pit-approved by the Company in writing.
Company shall fund the account initially with $5,000.00. Consultant shall
reconcile the account monthly with supporting expenses documentation and Company
shall provide the necessary funds to maintain a $5,000.00 monthly balance in the
account at the beginning of each month. These expenses shall include but not be
limited to:

    1.
Geotech, filing and secretarial services

    2.
Expenses associated with the preparation and reproduction of maps and other
geological, geophysical, land and engineering exhibits

    3.
Acquisition of geologic, land and other data required in the evaluation of
individual projects.

    

    
      	
               
      

            	
              c.

            	
              Company
      shall reimburse Consultant for all normal monthly expenses incurred by
      Consultant in carrying out its duties hereunder that have been approved by
      Company in writing, in advance. Consultant shall, on presenting Company
      with documentation reasonably acceptable to Company, be reimbursed by
      Company for all such pit-approved expenses, including transportation,
      meals, lodging, long distance phone calls, and related miscellaneous
      expenses incurred by Consultant in connection with the performance of the
      services provided by Consultant pursuant to this
  Agreement.

            

    

    

    3.3
Additional Consultant Participation.

    
      	
               
      

            	
              a.

            	
              Assignment
      of Overriding Royalty – Third Party
Deals.

            

    

    Company
shall assign Consultant a 1% of 8/8ths overriding royalty interest (ORRI) on all
leases either acquired and/or earned by Company on all projects submitted by
third parties, which have been previously recommended by Consultant or will be
recommended by Consultant during the Term of this Agreement, and which are
acquired by Company after September 1, 2006. The ORRI shall be proportionately
reduced to the Company’s working interest ownership in each lease.

    

    
      	
               
      

            	
              b.

            	
              Consultant
      Participation – Generated
Deals

            

    

    Mutually
agreeable terms shall be negotiated between Company and Consultant on all deals
generated by Consultant (including those deals generated in association with
other parties) and committed to by Company during the Term of this Agreement.
Consultant shall provide Company a 15-day exclusive on all such generated deals.
Should Company elect not to participate in any given generated project submitted
by Consultant within this 15-day exclusive period, then Consultant shall be free
to market the deal to other potential industry participants.

    

    4. Exclusive Services. Consultant agrees that it will not, during
the term of this Agreement, do any work, perform any services, or serve as a
consultant for a third party where those activities would, in the reasonable
judgment of Company, create a conflict of interest with or prevent Consultant
from fulfilling its duties, obligations, and responsibilities as set forth in
this Agreement.

    

    5. Confidentiality. Consultant recognizes that during the term of
this Agreement, Consultant may have access to confidential and proprietary
information and trade secrets of Company (the “Confidential Information”).
Consultant agrees that it will not divulge, distribute, or disseminate any
Confidential Information to any third party during or after the term of this
Agreement, or use any Confidential Information for any purpose other than as
required to carry out its duties hereunder.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Consultant
agrees that, upon termination of this Agreement, it shall immediately return to
Company all Confidential Information.

    

    6. Personal Services
Contract. Consultant acknowledges
and agrees this Agreement is a personal services contract and may not be
assigned by Consultant.

    

    7. Work Product. Consultant agrees that it will promptly and
completely inform and disclose to Company all studies undertaken with respect to
its duties and the findings and analyses that Consultant may create or obtain
during the term of this Agreement for the benefit of the Company. All such
findings and analyses and discoveries shall be the exclusive property of the
Company and shall be included in the definition of Confidential
Information.

    

    8. Termination. This Agreement may be terminated at any time
during the Initial Term or the Extended Term:

    

    
      	
               
      

            	
              a.

            	
              By
      the mutual written consent of both
Parties;

            

    

    

    
      	
               
      

            	
              b.

            	
              By
      Company if Consultant (i) breaches any covenant, term, or condition
      contained in this Agreement, (ii) commits an act of theft, fraud, or
      dishonesty against Company, or, (iii) fails or refuses to satisfactorily
      perform the services to be provided by Consultant pursuant to this
      Agreement;

            

    

    

    
      	
               
      

            	
              c.

            	
              By
      Consultant if Company fails without cause to pay the Consultant Fee for a
      period of 30 days after written notice from
  Consultant.

            

    

    

    
      	
               
      

            	
              d.

            	
              By
      30 days written notice from either Party during the Initial or Extended
      Term of this Agreement.

            

    

    

    If this
Agreement is terminated for the reasons stated in a., b., or d. above, any
obligations of Company to pay Consulting Fees to Consultant shall terminate
effective as of the date of termination of this Agreement, and those fees will
be prorated through the date of termination. If Consultant terminates this
Agreement pursuant to c. above, Consultant shall be entitled to the fees that
would be due to Consultant during the remainder of the Term or the Extended
Term, as appropriate.

    

    9.
Miscellaneous.

    

    9.1 Independent
Contractor. Nothing contained in
this Agreement shall be construed as a partnership agreement and Consultant
shall not be deemed to be an employee or agent of Company. Neither Party has any
authority to bind the other in any respect. It is intended, understood, and
agreed that Consultant is an independent contractor responsible for his own
actions.

    

    9.2 Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Texas. Company and
Consultant agree that in the event of a dispute arising between the Parties, the
Parties agree to subject themselves to the jurisdiction of the Courts of Dallas
County, Texas.

    

    9.3 Modifications. No provision of this Agreement may be changed
or modified, except by written agreement signed by the Parties.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    9.4 Legal Compliance. Consultant agrees to abide by all applicable
laws and regulations, both state and federal, in the performance of his duties
provided for in this Agreement.

    

    9.5 Entire Agreement. This Agreement contains the entire
understanding of the Parties in connection with its subject matter and
supersedes all previous verbal or written agreements.

    

    9.6 Notices. My notice required or permitted to be given
under this Agreement shall be in writing and shall be considered to have been
given if sent by certified mail, return receipt requested,

    

    To
Consultant at:

    310 W.
Wall, Suite 800

    Midland,
Texas 79701

    (432)
687-7070

    Attention:
Bill Dixon

    

    Or, to
Company at:

    1901 N.
Central Expressway Suite 300

    Richardson,
Texas 75080

    (972)
437-6792

    Attention:
Walt Dunagin

    

    9.7 Invalidity. If any of the provisions of this Agreement
shall be held invalid, that invalidity shall not affect any other provisions
which can be given effect without the invalid provisions. To this end, the
provisions of this Agreement are intended to be and shall be deemed
severable.

    

    9.8 Descriptive Headings. The descriptive headings of the several
sections of this Agreement are inserted for convenience only and shall not
control or affect the meaning or construction of any of its
provisions.

    

    This
Agreement has been executed as of the Effective Date stated above.

    

    Company:

    

    Reef
Exploration, LP , by Reef Exploration, GP, LLC, its general
partner.

    

    
      
        
          	
                  By:

                	
                  

                

        

      

    

    

    Consultant:

    

    William R.
Dixon dba DXN Associates

    

    
      
        
          
            	
                    By:

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