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                                                                   EXHIBIT 10.29

                   FIFTH AMENDMENT TO RESTATED LOAN AGREEMENT

     THIS FIFTH AMENDMENT TO RESTATED LOAN AGREEMENT (hereinafter referred to
as the "Amendment") executed as of the 1st day of August, 2001, by and among
NATIONAL ENERGY GROUP, INC., a Delaware corporation ("Borrower") and ARNOS
CORP., a Nevada corporation ("Lender"), a successor by assignment to BANK ONE,
TEXAS, N.A., a national banking association ("Bank One") and CREDIT LYONNAIS
NEW YORK BRANCH ("Credit Lyonnais") and each of the financial institutions
which may from time to time become a party hereto or any successor or assignee
thereof (hereinafter collectively referred to as "Banks", individually as
"Bank" or "Lender").

                                   WITNESSETH

          WHEREAS, Borrower, Guarantor, Banks and Agent entered into a Restated
Loan Agreement, dated as of August 29, 1996 (as so modified and amended and as
otherwise supplemented from time to time, the "Loan Agreement") under the terms
of which the Banks agreed to provide the Borrower with a reducing revolving
line of credit facility in an amount of up to $100,000,000 and a term loan in
an amount of up to $25,000,000;

          WHEREAS, Borrower, Guarantor, Banks and Agent entered into a First
Amendment to Restated Loan Agreement dated October 31, 1996 and a Second
Amendment to Restated Loan Agreement dated March 7, 1997 and a Third Amendment
to Restated Loan Agreement dated May 12, 1997 and a Fourth Amendment to
Restated Loan Agreement dated August 21, 1997; and

          WHEREAS, the Borrower has requested that, subject to the terms and
conditions set forth below, (i) the Lender extend the Revolving Maturity Date
to December 31, 2001 and (ii) the Lender consent to waiver of compliance with
Minimum Interest Coverage Ratio by the Borrower through the 4th Quarter of
2001, which compliance is required under Subsection 13(d) of the First
Amendment to Restated Loan Agreement dated October 31, 1996.

         NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Borrower and the Lender hereby
agree as follows:

1.       Definitions.

         Capitalized terms used and not otherwise defined herein shall have the
respective meanings ascribed thereto in the Loan Agreement.

2.       Amendment to the Loan Agreement.
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     The Loan Agreement is hereby amended as follows:

     The definition of "Revolving Maturity Date" contained in Section 1 shall be
amended by deleting therefrom the date "August 29, 2000" and in lieu thereof
inserting the date "December 31, 2001."

3.   Waiver.

     The Lender hereby waives non-compliance with Minimum Interest Coverage
Ratio by the Borrower through the 4th Quarter of 2001.

4.   Governing Law.

     This Amendment shall be governed by the construed in accordance with the
laws of the State of New York, without regard to principles of conflicts of law
or choice of law.

5.   Modification.

     No provisions of this Amendment may be waived, amended or modified except
by a writing signed by the affected party.

6.   Continued Effectiveness of the Loan Agreement; No Default or Event of
     Default.

     Except as expressly amended herein, the terms and provisions of the Loan
Agreement shall remain unchanged and in full force and effect and all
references therein to this "Agreement" shall be deemed to be references to the
Loan Agreement, as amended by this Amendment. On the date hereof, no Default
or Event of Default has occurred and is continuing under the Loan Agreement.

7.   Counterparts; Effective Date.

     This Amendment may be signed in one or more counterparts, all of which
together shall constitute a single agreement binding upon the parties hereto.
This Amendment shall be effective as of August 29, 2000.

                            [Signature Page Follows]
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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers as of the date first written above.

                                   ARNOS CORP.

                                   By: /s/ EDWARD E. MATTNER
                                       -------------------------------
                                       Name: Edward E. Mattner
                                       Title: Vice President

                                   NATIONAL ENERGY GROUP, INC.

                                   By: /s/ BOB G. ALEXANDER
                                       -------------------------------
                                       Name: Bob G. Alexander
                                       Title: CEO-Pres.

         [Signature Page to Fifth Amendment To Restated Loan Agreement]<PAGE>   1
                                                                   EXHIBIT 10.30

                             DEBT PURCHASE AGREEMENT

                  This Agreement ("Agreement") is entered into as of August 1,
2001, by and between NATIONAL ENERGY GROUP, INC., a Delaware corporation
("Purchaser"), and HIGH RIVER LIMITED PARTNERSHIP, a Delaware limited
partnership ("Seller").

                  WHEREAS, Seller desires to redeem with Purchaser by selling to
Purchaser $8,000,000 in face amount of 10-3/4% notes due November 1, 2006 of
National Energy Corp., together with interest thereon accrued through August 1,
2001, which notes were acquired on August 11, 1998, (the "Debt") and Purchaser
desires to redeem the Debt by purchasing the Debt from Seller, subject to the
provisions contained herein.

                  NOW, THEREFORE, in consideration of the mutual promises and
covenants contained in this Agreement, and intending to be legally bound by the
terms and conditions of this Agreement, the parties hereto hereby agree as
follows:

         1. Sale of Debt to Purchaser.

                  1.1. Sale and Purchase of Debt. Subject to the terms and
conditions of this Agreement, Seller hereby sells, assigns and delivers to
Purchaser and Purchaser hereby purchases from Seller, the Debt for an aggregate
purchase price of $5,348,530.22 in cash (the "Purchase Price"), to be payable by
Purchaser to Seller via electronic wire transfer in immediately available funds
to the account of Seller in accordance with the wire instructions to be provided
by Seller to Purchaser contemporaneously with the delivery of the Debt.

         2. Representations and Warranties of Seller. In connection with the
purchase of the Debt, Seller hereby represents and warrants to Purchaser as
follows:

                  2.1. Title to Debt. Seller has good legal title to the Debt,
and has the full legal right, power and authority to sell, assign and transfer
complete ownership in the Debt to Purchaser, free and clear of all liens,
claims, restrictions, encumbrances, charges, options or rights of third parties
with respect thereto.

                  2.2. Brokers. No broker, finder or investment banker is
entitled to any brokerage, finder's or other fee or commission in connection
with the transactions contemplated by this Agreement based upon any arrangement
made by or on behalf of Seller.

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         3. Representations and Warranties of Purchaser.

                  Purchaser represents and warrants to Seller as follows:

                  3.1. Brokers. No broker, finder or investment banker is
entitled to any brokerage, finder's or other fee or commission in connection
with the transactions contemplated by this Agreement based upon any arrangement
made by or on behalf of Purchaser.

         4. Indemnity.

                  4.1. Purchaser shall defend, indemnify and save and hold
harmless Seller from and against all liabilities, losses, claims, demands,
suits, costs, expenses and damages of every kind and character, including,
without limitation, attorneys' fees, court costs, and costs of investigation,
which arise from or in connection with in any way a breach by Purchaser of its
representations and warranties contained in this Agreement or other breach of
this Agreement by Purchaser.

                  4.2. Seller shall defend, indemnify and save and hold harmless
Purchaser from and against all liabilities, losses, claims, demands, suits,
costs, expenses and damages of every kind and character, including, without
limitation, attorneys' fees, court costs, and costs of investigation, which
arise from or in connection with in any way a breach by Seller of its
representations and warranties contained in this Agreement or other breach of
this Agreement by Seller.

         5. Miscellaneous.

                  5.l. Assignment; Successors and Assigns. The provisions of
this Agreement shall be binding upon, and inure to the benefit of, the
respective successors, assigns, heirs, executors and administrators of the
parties hereto.

                  5.2. Survival of Representations and Warranties. All
indemnities, covenants, representations and warranties contained herein shall
survive the execution and delivery of this Agreement and the Closing of the
transactions contemplated hereby.

                  5.3. Expenses. Each party to this Agreement shall bear its own
costs and expenses, including, but not limited to, attorneys' fees and expenses,
in connection with the closing of the transactions contemplated hereby.

                  5.4. Notices. All notices, requests, consents and other
communications under this Agreement shall be in writing and shall

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be delivered by hand, by telecopier, by overnight mail or mailed by first class
certified or registered mail, return receipt requested, postage prepaid. Notices
provided in accordance with this Section 5.4 shall be deemed delivered upon
personal delivery, receipt by telecopy or overnight mail, or 48 hours after
deposit in the mail in accordance with the above.

                  5.5. Entire Agreement. This Agreement, together with the
instruments and other documents contemplated to be executed and delivered in
connection herewith, contains the entire agreement and understanding of the
parties hereto, and supersedes any prior agreements or understandings between or
among them, with respect to the subject matter hereof.

                  5.6. Amendments and Waivers. This Agreement may not be amended
or waived (either generally or in a particular instance and either retroactively
or prospectively) except by a written instrument signed by the party against
whom enforcement of such amendment, modification or waiver is sought. No waivers
of or exceptions to any term, condition or provision of this Agreement, in any
one or more instances, shall be deemed to be, or construed as, a further or
continuing waiver of any such term, condition or provision.

                  5.7. Counterparts. This Agreement may be executed in several
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

                  5.8. Captions. The captions of the sections, subsections and
paragraphs of this Agreement have been added for convenience only and shall not
be deemed to be a part of this Agreement.

                  5.9. Governing Law. This Agreement shall be governed by and
interpreted and construed in accordance with the laws of the State of New York.

                  5.10 Further Assurances. Seller and Purchaser hereby agrees to
take such further action and execute and deliver such further documents and
instruments as may be necessary or appropriate to perfect the transactions,
assignments, transfers and conveyances contemplated in the Agreement.

                            [signature page follows]

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         IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as an instrument as of the date first above written.

                                               NATIONAL ENERGY GROUP, INC.

                                               By: /s/ BOB ALEXANDER
                                                  ------------------------------
                                                  Name:  Bob Alexander
                                                         -----------------------
                                                  Title: President
                                                         -----------------------

                                               HIGH RIVER LIMITED PARTNERSHIP
                                               BARBERRY CORP., General Partner

                                               By: /s/ EDWARD E. MATTNER
                                                  ------------------------------
                                                  Name:  Edward E. Mattner
                                                  Title: Authorized Signatory

                   [Signature Page to Debt Purchase Agreement]

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