Document:

STOCK PLEDGE AGREEMENT
                          (Continental Resources, Inc.)

     This STOCK PLEDGE AGREEMENT (this "Agreement"), dated as of March 28, 2002,
is entered into between  Continental  Resources,  Inc., an Oklahoma  corporation
("Pledgor") and Guaranty Bank, FSB, a federal savings bank, as Collateral  Agent
for the Banks under the Credit  Agreement  (as  hereinafter  defined)  ("Secured
Party"), with reference to the following:

     WHEREAS,  Pledgor  beneficially  owns one thousand (1,000) shares of common
stock,  par value  $0.50 per  share,  of  Continental  Gas,  Inc.,  an  Oklahoma
corporation  ("CGI"),  three thousand  (3,000) shares of common stock, par value
$1.00 per share,  of  Continental  Resources  of  Illinois,  Inc.,  an  Oklahoma
corporation  ("CRI"), and one thousand (1,000) shares of common stock, par value
$1.00 per share, of Continental  Crude Co., an Oklahoma  corporation  ("CCC") as
more  fully  described  on Exhibit A hereto,  which  shares  (collectively,  the
"Pledged  Shares")  constitute  one hundred  percent (100%) of the fully diluted
equity voting stock of each CGI, CRI and CCC;

     WHEREAS, the term "Credit Agreement" shall mean that certain Fourth Amended
and Restated  Credit  Agreement dated as of March 28, 2002 by and among Pledgor,
as "Borrower", Secured Party as Collateral/Documentation  Agent, Co-Arranger and
a Bank, Union Bank of California, N.A., as Administrative Agent, LC Issuer, Lead
Arranger,  Fronting Bank and a Bank, Fortis Capital Corp., as Syndication Agent,
Co-Arranger  and a Bank, and the Banks and financial  institutions  from time to
time parties to the Credit Agreement;

     WHEREAS,  to induce  Secured  Party to grant the  extensions  of credit and
other  financial  accommodations  provided  to  Borrower  pursuant to the Credit
Agreement,  Pledgor desires to pledge,  grant,  transfer,  and assign to Secured
Party a security interest in the Collateral (as hereinafter defined) as security
for the Obligations (as hereinafter defined); and

     WHEREAS,  Pledgor will benefit  directly and indirectly  from extensions of
credit as a Borrower under the Credit Agreement.

     NOW,  THEREFORE,  in  consideration  of  the  mutual  promises,  covenants,
representations, and warranties set forth herein and for other good and valuable
consideration, the parties hereto agree as follows:

     1. Definitions and Construction.

          (a) Definitions. As used in this Agreement:

               "Agreement" shall mean this Stock Pledge Agreement.

               "Bankruptcy  Code" shall mean The  Bankruptcy  Reform Act of 1978
          (11 U.S.C. Sections 10l-1330), as amended or supplemented from time to
          time,  and any  successor  statute,  and all of the  rules  issued  or
          promulgated in connection therewith.

               "Borrower"  shall have the meaning ascribed thereto in the second
          recital of this Agreement.

               "Business  Day" shall have the  meaning  ascribed  thereto in the
          Credit Agreement.

               "CCC"  shall  have the  meaning  ascribed  thereto  in the  first
          recital to this Agreement.

               "CGI"  shall  have the  meaning  ascribed  thereto  in the  first
          recital to this Agreement.

               "Collateral"  shall mean the Pledged  Shares,  the Future Rights,
          and the Proceeds, collectively.

               "Credit Agreement" shall have the meaning ascribed thereto in the
          second recital of this Agreement.

               "CRI"  shall  have the  meaning  ascribed  thereto  in the  first
          recital to this Agreement.

               "Event of Default" shall have the meaning ascribed thereto in the
          Credit Agreement.

               "Future Rights" shall mean Borrower's interest in: (a) all shares
          of, all securities convertible or exchangeable into, and all warrants,
          options or other rights to purchase shares of stock of (i) CCC, CGI or
          CRI (other than the Pledged Shares),  and (ii) any Person which, after
          the date of this  Agreement,  becomes a direct  Subsidiary of Borrower
          and is  incorporated  under the laws of any state of the United States
          from time to time held or acquired by Borrower in any manner;  and (b)
          the certificates or instruments  representing such additional  shares,
          convertible or exchangeable securities, warrants, and other rights and
          all dividends, cash, options, warrants, rights, instruments, and other
          property  or  proceeds  from  time to time  received,  receivable,  or
          otherwise  distributed  in respect of or in exchange for any or all of
          such shares.

               "Holder" and "Holders" shall have the meanings  ascribed  thereto
          in Section 3 of this Agreement.

               "Lien"  shall  mean  any  lien,  mortgage,   pledge,   assignment
          (including  any  assignment  of rights to receive  payments of money),
          security  interest,  charge, or encumbrance of any kind (including any
          conditional sale or other title retention agreement,  any lease in the
          nature thereof, or any agreement to give any security interest).

               "Loan  Documents"  shall have the meaning ascribed thereto in the
          Credit Agreement.

               "Obligations"  shall  mean  the  "Obligations"  as  that  term is
          defined in the Credit Agreement.

               "Person"  shall have the meaning  ascribed  thereto in the Credit
          Agreement.

               "Pledgor" shall have the meaning ascribed thereto in the preamble
          to this Agreement.

               "Pledged  Shares" shall have the meaning  ascribed thereto in the
          first recital of this Agreement.

               "Proceeds"  shall  mean  all  proceeds   (including  proceeds  of
          proceeds) of the Pledged  Shares and Future Rights  including all: (a)
          rights,  benefits,   distributions,   premiums,   profits,  dividends,
          interest,  cash, instruments,  documents of title, accounts,  contract
          rights, inventory,  equipment, general intangibles,  deposit accounts,
          chattel  paper,  and  other  property  from  time  to  time  received,
          receivable, or otherwise distributed in respect of or in exchange for,
          or as a  replacement  of or a  substitution  for,  any of the  Pledged
          Shares, Future Rights, or proceeds thereof (including any cash, stock,
          or other securities or instruments) issued after any recapitalization,
          readjustment,  reclassification,  merger or consolidation with respect
          to  CCC,  CGI  or  CRI;  (b)  proceeds  of any  insurance,  indemnity,
          warranty,  or guaranty (including guaranties of delivery) payable from
          time to time with respect to any of the Pledged Shares, Future Rights,
          or proceeds thereof; (c) payments (in any form whatsoever) made or due
          and  payable  to  Pledgor  from  time to time in  connection  with any
          requisition, confiscation,  condemnation, seizure or forfeiture of all
          or any part of the Pledged Shares, Future Rights, or proceeds thereof;
          and (d) other  amounts  from time to time paid or payable  under or in
          connection with any of the Pledged Shares,  Future Rights, or proceeds
          thereof.

               "Secured  Party" shall have the meaning  ascribed  thereto in the
          preamble to this Agreement.

               "Securities  Act"  shall  have the  meaning  ascribed  thereto in
          Section 9(b) of this Agreement.

               "Subsidiary"  shall  have the  meaning  ascribed  thereto  in the
          Credit Agreement.

All initially capitalized terms used herein and not otherwise defined shall have
the meaning ascribed thereto in the Credit Agreement.

          (b) Construction.

               (i)  Unless  the  context  of  this  Agreement  clearly  requires
          otherwise,  references to the plural  includes the singular and to the
          singular  include the  plural,  the part  include the whole,  the term
          "including"  is not  limiting,  and the term  "or" has,  except  where
          otherwise  indicated,  the inclusive meaning represented by the phrase
          "and/or." The words "hereof,"  "herein,"  "hereby,"  "hereunder,"  and
          other similar  terms in this  Agreement  refer to this  Agreement as a
          whole  and  not  exclusively  to  any  particular  provision  of  this
          Agreement.   Article,  section,  subsection,   exhibit,  and  schedule
          references are to this Agreement  unless otherwise  specified.  All of
          the exhibits or schedules  attached to this Agreement  shall be deemed
          incorporated  herein  by  reference.  Any  reference  to  any  of  the
          following  documents  includes  any and all  alterations,  amendments,
          extensions,   modifications,   renewals,  or  supplements  thereto  or
          thereof, as applicable:  this Agreement, the Credit Agreement, and any
          of the other Loan Documents.

               (ii)  Neither this  Agreement  nor any  uncertainty  or ambiguity
          herein  shall  be  construed  or  resolved  against  Secured  Party or
          Pledgor,  whether under any rule of construction or otherwise.  On the
          contrary,  this Agreement has been reviewed by both of the parties and
          their  respective  counsel  and  shall be  construed  and  interpreted
          according  to the  ordinary  meaning of the words used so as to fairly
          accomplish the purposes and intentions of the parties hereto.

               (iii) In the event of any direct  conflict  between  the  express
          terms and  provisions of this  Agreement and of the Credit  Agreement,
          the terms and provisions of the Credit Agreement shall control.

     2.  Pledge.  As  security  for the prompt  payment and  performance  of the
Obligations in full when due,  whether at stated  maturity,  by  acceleration or
otherwise  (including amounts that would become due but for the operation of the
automatic  stay under Section  362(a) of the  Bankruptcy  Code),  Pledgor hereby
pledges, grants,  transfers, and assigns to Secured Party a security interest in
all of Pledgor's right, title, and interest in and to the Collateral.

     3. Delivery and Registration of Collateral.

          (a) All  certificates  or instruments  representing  or evidencing the
     Collateral  shall be  promptly  delivered  by Pledgor  to Secured  Party or
     Secured  Party's  designee  pursuant  hereto at a  location  designated  by
     Secured Party and shall be held by or on behalf of Secured  Party  pursuant
     hereto, and shall be in suitable form for transfer by delivery, or shall be
     accompanied  by duly  executed  instruments  of transfer or  assignment  in
     blank, all in form and substance satisfactory to Secured Party.

          (b) After the  occurrence  and during the  continuance  of an Event of
     Default,  Secured Party shall have the right, at any time in its discretion
     and without  notice to Pledgor,  to transfer to or to register on the books
     of  CCC,  CGI  and/or  CRI,  as the  case  may be (or of any  other  Person
     maintaining  records with respect to the Collateral) in the name of Secured
     Party or any of its  nominees  any or all of the  Collateral.  In addition,
     Secured Party shall have the right at any time to exchange  certificates or
     instruments  representing  or evidencing  Collateral  for  certificates  or
     instruments of smaller or larger denominations.

          (c) If, at any time and from time to time, any  Collateral  (including
     any certificate or instrument representing or evidencing any Collateral) is
     in the  possession  of a Person  other  than  Secured  Party or  Pledgor (a
     "Holder"),  then Pledgor  shall  immediately,  at Secured  Party's  option,
     either  cause  such   Collateral  to  be  delivered  into  Secured  Party's
     possession,  or execute and deliver to such Holder a written  notification/
     instruction,  and take all other steps  necessary  to perfect the  security
     interest of Secured Party in such Collateral, including obtaining from such
     Holder a written  acknowledgment that such Holder holds such Collateral for
     Secured Party, all pursuant to the applicable laws governing the perfection
     of Secured Party's security interest in the Collateral in the possession of
     such Holder. Each such notification/instruction and acknowledgment shall be
     in form and substance satisfactory to Secured Party.

          (d)  Subject  to the  provisions  in  Section  4  hereof,  any and all
     Collateral (including dividends, interest, and other cash distributions) at
     any time  received or held by Pledgor shall be so received or held in trust
     for Secured  Party,  shall be  segregated  from other funds and property of
     Pledgor and shall be forthwith  delivered to Secured Party in the same form
     as so received or held, with any necessary endorsements.

          (e) If at any time and from time to time any Collateral consists of an
     uncertificated  security  or a security in book entry  form,  then  Pledgor
     shall immediately cause such Collateral to be registered or entered, as the
     case may be, in the name of  Secured  Party,  or  otherwise  cause  Secured
     Party's  security  interest  thereon to be  perfected  in  accordance  with
     applicable law.

     4. Voting Rights and Dividends.

          (a) So  long  as no  Event  of  Default  shall  have  occurred  and be
     continuing,  Pledgor  shall be entitled to exercise  any and all voting and
     other  consensual  rights  pertaining to the Collateral or any part thereof
     for any purpose not inconsistent with the terms of the Credit Agreement and
     shall be entitled to receive and retain any cash dividends or distributions
     paid in  respect of the  Collateral  as may be  permitted  under the Credit
     Agreement.

          (b) Upon the  occurrence  and  during the  continuance  of an Event of
     Default,  all rights of Pledgor to exercise the voting and other consensual
     rights or receive and retain cash dividends or distributions which it would
     otherwise  be entitled to  exercise  or receive and retain,  as  applicable
     pursuant to Section 4(a) shall cease,  and all such rights shall  thereupon
     become vested in Secured Party,  who shall thereupon have the sole right to
     exercise such voting or other  consensual  rights and to receive and retain
     such cash  dividends and  distributions.  Pledgor shall execute and deliver
     (or cause to be executed and  delivered)  to Secured Party all such proxies
     and other  instruments  as Secured  Party may  request  for the  purpose of
     enabling  Secured Party to exercise the voting and other rights which it is
     entitled to exercise pursuant to this subsection (b).

     5.  Representations  and  Warranties.  Pledgor  represents,  warrants,  and
covenants as follows:

          (a) Pledgor has taken all steps it deems  necessary or  appropriate to
     be informed on a continuing basis of changes or potential changes affecting
     the  Collateral  (including  rights of conversion  and exchange,  rights to
     subscribe,  payment  of  dividends,  reorganizations  or  recapitalization,
     tender  offers and voting  rights),  and Pledgor  agrees that Secured Party
     shall have no responsibility or liability for informing Pledgor of any such
     changes or  potential  changes or for taking any action or omitting to take
     any action with respect thereto;

          (b) All information  herein or hereafter  supplied to Secured Party by
     or on behalf of Pledgor in writing with respect to the Collateral is, or in
     the case of information  hereafter  supplied will be, accurate and complete
     in all material respects;

          (c) Except as pledged,  granted,  transferred and assigned  hereunder,
     Pledgor  is  and  will  be the  sole  legal  and  beneficial  owner  of the
     Collateral  (including the Pledged Shares and all other Collateral acquired
     by Pledgor  after the date  hereof)  free and clear of any  adverse  claim,
     Lien, or other right, title, or interest of any party;

          (d) This  Agreement,  and the delivery to Secured Party of the Pledged
     Shares  representing  Collateral  (or the  delivery  to all  Holders of the
     Pledged  Shares  representing  Collateral  of the  notification/instruction
     referred to in Section 3 of this  Agreement),  creates a valid,  perfected,
     and first priority  security  interest in one hundred percent (100%) of the
     Pledged  Shares  in  favor  of  Secured  Party  securing   payment  of  the
     Obligations, and all actions necessary to achieve such perfection have been
     duly taken;

          (e)  Schedule A to this  Agreement is true and correct and complete in
     all material  respects;  without  limiting the generality of the foregoing:
     (i) all the Pledged Shares are in  certificated  form,  and,  except to the
     extent  registered in the name of Secured Party or its nominee  pursuant to
     the  provisions of this  Agreement,  are registered in the name of Pledgor;
     and (ii) the Pledged  Shares  constitute at least the percentage of all the
     fully diluted issued and outstanding shares of stock of CCC, CGI and CRI as
     set forth in Schedule A to this Agreement;

          (f) There are no presently existing Future Rights or Proceeds owned by
     Pledgor;

          (g) The Pledged  Shares have been duly  authorized  and validly issued
     and are fully paid and nonassessable; and

          (h) Neither the pledge of the  Collateral  pursuant to this  Agreement
     nor the  extensions  of  credit  represented  by the  Obligations  violates
     Regulation  G, T, U or X of the Board of Governors  of the Federal  Reserve
     System.

     6. Further Assurances.

          (a) Pledgor  agrees that from time to time, at the expense of Pledgor,
     Pledgor  will  promptly  execute and deliver  all further  instruments  and
     documents,  and take all further action that may be necessary or desirable,
     or that  Secured  Party may  request,  in order to perfect  and protect any
     security  interest  granted or purported to be granted  hereby or to enable
     Secured  Party to exercise  and enforce its rights and  remedies  hereunder
     with respect to any  Collateral.  Without  limiting the  generality  of the
     foregoing,  Pledgor  will:  (i) at  the  request  of  Secured  Party,  mark
     conspicuously  each of its  records  pertaining  to the  Collateral  with a
     legend,  in form and substance  satisfactory  to Secured Party,  indicating
     that such  Collateral is subject to the security  interest  granted hereby;
     (ii)  execute  and file  such  financing  or  continuation  statements,  or
     amendments  thereto,  and such  other  instruments  or  notices,  as may be
     necessary  or  desirable,  or as  Secured  Party may  request,  in order to
     perfect and  preserve  the  security  interests  granted or purported to be
     granted  hereby;  (iii) as more  fully set forth in the  Credit  Agreement,
     allow  inspection of the Collateral by Secured Party or Persons  designated
     by Secured  Party;  and (iv) appear in and defend any action or  proceeding
     that may affect Pledgor's title to or Secured Party's security  interest in
     the Collateral.

          (b)  Pledgor  hereby  authorizes  Secured  Party  to file  one or more
     financing or continuation statements,  and amendments thereto,  relative to
     all or any part of the  Collateral  without the  signature of Pledgor where
     permitted  by law and in any form or  medium  provided  by law.  A  carbon,
     photographic,  or  other  reproduction  of this  Agreement,  and  amendment
     thereto or any financing statement (whether original or amendment) covering
     the  Collateral  or any part  thereof  shall be  sufficient  as a financing
     statement where permitted by law.

          (c) Pledgor will furnish to Secured Party, upon the request of Secured
     Party: (1) a certificate  executed by an authorized officer of Pledgor, and
     dated as of the date of delivery to Secured Party, itemizing in such detail
     as Secured Party may request,  the Collateral which, as of the date of such
     certificate, has been delivered to Secured Party by Pledgor pursuant to the
     provisions  of this  Agreement;  and (ii)  such  statements  and  schedules
     further identifying and describing the Collateral and such other reports in
     connection with the Collateral as Secured Party may request.

     7. Covenants of Pledgor. Pledgor shall:

          (a)  Perform  each and  every  covenant  hereunder  and in the  Credit
     Agreement;

          (b) At all  times  keep  at  least  one  complete  set of its  records
     concerning  substantially  all of the  Collateral  at its  chief  executive
     office at 302 N.  Independence,  Suite 300, Enid,  Oklahoma 73701,  and not
     change the location of its chief  executive  office or such records without
     giving  Secured  Party at least  thirty  (30)  days  prior  written  notice
     thereof;

          (c) To the  extent it may  lawfully  do so,  use its best  efforts  to
     prevent CCC, CGI and CRI from issuing Future Rights or Proceeds; and

          (d) Upon receipt by Pledgor of any material notice,  report,  or other
     communication  from CCC,  CGI or CRI or any Holder  relating  to all or any
     part of the Collateral,  deliver such notice, report or other communication
     to Secured  Party as soon as possible,  but in no event later than five (5)
     Business Days following the receipt thereof by Pledgor.

     8. Secured Party as Pledgor's Attorney-in-Fact.

          (a) Pledgor  hereby  irrevocably  appoints  Secured Party as Pledgor's
     attorney-in-fact, with full authority in the place and stead of Pledgor and
     in the name of Pledgor,  Secured Party or  otherwise,  from time to time at
     Secured  Party's  discretion,  to  take  any  action  and  to  execute  any
     instrument that Secured Party may deem necessary or advisable to accomplish
     the purposes of this  Agreement,  including:  (i) after the  occurrence and
     during the  continuance of an Event of Default,  to receive,  endorse,  and
     collect all instruments made payable to Pledgor  representing any dividend,
     interest payment or other  distribution in respect of the Collateral or any
     part thereof to the extent  permitted  hereunder and to give full discharge
     for the  same  and to  execute  and  file  governmental  notifications  and
     reporting forms; (ii) to issue any notifications/instructions Secured Party
     deems necessary pursuant to Section 3 of this Agreement; or (iii) after the
     occurrence and during the  continuance  of an Event of Default,  to arrange
     for the  transfer  of the  Collateral  on the books of Pledgor or any other
     Person  to the name of  Secured  Party or to the  name of  Secured  Party's
     nominee.

          (b) In  addition  to the  designation  of Secured  Party as  Pledgor's
     attorney-in-fact  in subsection (a),  Pledgor hereby  irrevocably  appoints
     Secured Party as Pledgor's agent and  attorney-in-fact to make, execute and
     deliver  any and all  documents  and  writings  which may be  necessary  or
     appropriate  for approval of, or be required by, any  regulatory  authority
     located in any city,  county,  state or country  where  Pledgor or Borrower
     engages in business,  in order to transfer or to more effectively  transfer
     any of the Pledged  Shares or  otherwise  enforce  Secured  Party's  rights
     hereunder.

     9. Remedies upon Default. Upon the occurrence and during the continuance of
an Event of Default:

          (a)  Secured  Party may  exercise  in  respect of the  Collateral,  in
     addition to other  rights and  remedies  provided  for herein or  otherwise
     available to it, all the rights and remedies of a secured  party on default
     under the Texas  Business and Commerce Code (the "Code")  (irrespective  of
     whether the Code applies to the affected items of Collateral),  and Secured
     Party  may  also  without  notice  (except  as  specified  below)  sell the
     Collateral  or any part thereof in one or more parcels at public or private
     sale, at any exchange,  broker's board or at any of Secured Party's offices
     or elsewhere,  for cash, on credit or for future delivery,  at such time or
     times and at such  price or prices  and upon such  other  terms as  Secured
     Party may deem commercially  reasonable,  irrespective of the impact of any
     such sales on the market  price of the  Collateral.  To the maximum  extent
     permitted by applicable  law,  Secured Party may be the purchaser of any or
     all of the  Collateral  at any such  sale and  shall be  entitled,  for the
     purpose of bidding and making  settlement or payment of the purchase  price
     for all or any portion of the  Collateral  sold at any such public sale, to
     use and apply all or any part of the  Obligations as a credit on account of
     the purchase price of any Collateral  payable at such sale.  Each purchaser
     at any such sale  shall hold the  property  sold  absolutely  free from any
     claim or right on the part of Pledgor,  and Pledgor  hereby  waives (to the
     extent permitted by law) all rights of redemption,  stay, or appraisal that
     it now has or may at any time in the  future  have under any rule of law or
     statute now  existing or hereafter  enacted.  Pledgor  agrees that,  to the
     extent  notice of sale shall be required by law, at least ten (10) calendar
     days notice to Pledgor of the time and place of any public sale or the time
     after  which  a  private  sale is to be made  shall  constitute  reasonable
     notification.  Secured  Party  shall not be  obligated  to make any sale of
     Collateral  regardless  of notice of sale having been given.  Secured Party
     may adjourn any public or private sale from time to time by announcement at
     the time and place  fixed  therefor,  and such sale  may,  without  further
     notice, be made at the time and place to which it was so adjourned.  To the
     maximum extent  permitted by law,  Pledgor hereby waives any claims against
     Secured Party arising  because the price at which any  Collateral  may have
     been sold at such a private  sale was less than the price  that  might have
     been  obtained at a public sale,  even if Secured  Party  accepts the first
     offer received and does not offer such Collateral to more than one offeree.

          (b) Pledgor hereby  acknowledges that the sale by Secured Party of any
     Collateral  pursuant to the terms hereof in compliance  with the Securities
     Act of  1933 as now in  effect  or as  hereafter  amended,  or any  similar
     statute  hereafter  adopted with similar purpose or effect (the "Securities
     Act"), as well as applicable  "Blue Sky" or other state securities laws may
     require  strict  limitations as to the manner in which Secured Party or any
     subsequent  transferee  of the  Collateral  may  dispose  thereof.  Pledgor
     acknowledges  and agrees that in order to protect Secured Party's  interest
     it may be necessary to sell the Collateral at a price less than the maximum
     price  attainable  if a sale were  delayed or were made in another  manner,
     such  as a  public  offering  under  the  Securities  Act.  Pledgor  has no
     objection to sale in such a manner and agrees that Secured Party shall have
     no  obligation  to obtain the maximum  possible  price for the  Collateral.
     Without limiting the generality of the foregoing, Pledgor agrees that, upon
     the occurrence and during the continuation of an Event of Default,  Secured
     Party may, subject to applicable law, from time to time attempt to sell all
     or any part of the  Collateral  by a  private  placement,  restricting  the
     bidders and  prospective  purchasers to those who will  represent and agree
     that they are purchasing for investment only and not for  distribution.  In
     so doing,  Secured  Party may solicit  offers to buy the  Collateral or any
     part thereof for cash, from a limited number of investors deemed by Secured
     Party to be institutional  investors or other responsible parties who might
     be interested in purchasing the Collateral.  If Secured Party shall solicit
     such  offers,  then the  acceptance  by Secured  Party of one of the offers
     shall be deemed to be a  commercially  reasonable  method of disposition of
     the Collateral.

          (c) If Secured Party shall determine to exercise its right to sell all
     or any portion of the Collateral  pursuant to this Section,  Pledgor agrees
     that upon request of Secured Party, Pledgor will, at its own expense:

               (i) use its best efforts to execute and  deliver,  and cause CCC,
          CGI and CRI and the  directors  and  officers  thereof to execute  and
          deliver, all such instruments and documents,  and to do or cause to be
          done all such other acts and things,  as may be  necessary  or, in the
          opinion of Secured Party,  advisable to register such Collateral under
          the  provisions of the Securities  Act, and to cause the  registration
          statement relating thereto to become effective and to remain effective
          for such period as  prospectuses  are required by law to be furnished,
          and to make all amendments and supplements  thereto and to the related
          prospectuses  which, in the opinion of Secured Party, are necessary or
          advisable,  all in conformity with the  requirements of the Securities
          Act and the rules  and  regulations  of the  Securities  and  Exchange
          Commission applicable thereto;

               (ii) use its best  efforts to qualify  the  Collateral  under the
          state  securities  laws or "Blue Sky" laws and to obtain all necessary
          governmental approvals for the sale of the Collateral, as requested by
          Secured Party;

               (iii)  make  available  to  its  security  holders,  as  soon  as
          practicable,  an earnings  statement which will satisfy the provisions
          of Section II (a) of the Securities Act;

               (iv)  execute and deliver to any person,  entity or  governmental
          authority  as Secured  Party may  choose,  any and all  documents  and
          writings  which may be necessary or  appropriate  for approval,  or be
          required by, any  regulatory  authority  located in any city,  county,
          state or  country  where  Pledgor  engages  in  business,  in order to
          transfer  or to  more  effectively  transfer  the  Pledged  Shares  or
          otherwise enforce Secured Party's rights hereunder; and

               (v) do or cause to be done all such  other acts and things as may
          be necessary to make such sale of the  Collateral  or any part thereof
          valid and binding and in compliance with applicable law.

Pledgor  acknowledges  that there is no adequate remedy at law for failure by it
to comply with the provisions of this Section and that such failure would not be
adequately  compensable  in damages,  and therefore  agrees that its  agreements
contained in this Section may be specifically enforced.

     10.  Secured  Party:  Duties:  Standard of Care.  The powers  conferred  on
Secured Party  hereunder  are solely to protect its interests in the  Collateral
and shall not impose on it any duty to exercise such powers.

     11. Choice of Law; Consent to Jurisdiction.

          (a) THE VALIDITY OF THIS AGREEMENT,  ITS CONSTRUCTION,  INTERPRETATION
     AND ENFORCEMENT,  AND THE RIGHTS OF THE PARTIES HERETO, SHALL BE DETERMINED
     UNDER,  GOVERNED BY, AND CONSTRUED IN ACCORDANCE  WITH THE INTERNAL LAWS OF
     THE STATE OF TEXAS.

          (b) THE  PARTIES  AGREE  THAT ALL  ACTIONS OR  PROCEEDINGS  ARISING IN
     CONNECTION  WITH THIS  AGREEMENT  SHALL BE TRIED AND LITIGATED  ONLY IN THE
     STATE AND FEDERAL  COURTS  LOCATED IN THE COUNTY OF HARRIS,  STATE OF TEXAS
     OR,  AT THE SOLE  OPTION OF  SECURED  PARTY,  IN ANY  OTHER  COURT IN WHICH
     SECURED PARTY SHALL INITIATE LEGAL OR EQUITABLE  PROCEEDINGS  AND WHICH HAS
     SUBJECT MATTER JURISDICTION OVER THE MATTER IN CONTROVERSY. PLEDGOR WAIVES,
     TO THE EXTENT  PERMITTED  UNDER  APPLICABLE  LAW,  ANY RIGHT IT MAY HAVE TO
     ASSERT THE  DOCTRINE OF FORUM NON  CONVENIENS  OR TO OBJECT TO VENUE TO THE
     EXTENT ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS SECTION 11.

     12.  Amendments:  etc.  No  amendment  or waiver of any  provision  of this
Agreement nor consent to any departure by Pledgor  herefrom,  shall in any event
be  effective  unless the same shall be in writing and signed by Secured  Party,
and then such waiver or consent shall be effective only in the specific instance
and for the specific  purpose for which given. No failure on the part of Secured
Party to exercise,  and no delay in exercising  any right under this  Agreement,
the Credit Agreement, or otherwise with respect to any of the Obligations, shall
operate as a waiver  thereof;  nor shall any single or partial  exercise  of any
right under this Agreement,  the Credit Agreement,  or otherwise with respect to
any of the  Obligations  preclude any other or further  exercise  thereof or the
exercise of any other right.  The remedies  herein provided in this Agreement or
otherwise  with  respect  to any of  the  Obligations  are  cumulative  and  not
exclusive of any remedies provided by law.

     13. Notices.  Unless otherwise  specifically provided herein, any notice or
other  communication  herein required or permitted to be given shall be given in
accordance with the terms of Section 9.03 of the Credit Agreement.

     14. Continuing Security Interest.  This Agreement shall create a continuing
security  interest  in the  Collateral  and shall:  (i) remain in full force and
effect until the indefeasible  payment in full of the Obligations,  and the full
and final  termination of any commitment to extend any financial  accommodations
under the Credit  Agreement;  (ii) be binding upon Pledgor,  its  successors and
assigns;  and (iii)  inure to the benefit of Secured  Party and its  successors,
transferees,  and  assigns.  Upon  the  indefeasible  payment  in  full  of  the
Obligations,  and the full and final termination of any commitment to extend any
financial  accommodations  under the Credit  Agreement,  the security  interests
granted  hereby shall  automatically  terminate and all rights to the Collateral
shall  revert to Pledgor.  Upon any such  termination,  Secured  Party will,  at
Pledgor's  expense,  execute and deliver to Pledgor  such  documents  as Pledgor
shall reasonably request to evidence such termination and will return to Pledgor
all certificates or instruments representing or evidencing the Collateral,  then
in the Secured Party's  possession.  Such documents shall be prepared by Pledgor
and shall be in form and substance satisfactory to Secured Party.

     15. Security Interest Absolute. To the maximum extent permitted by law, all
rights of Secured Party and security interests hereunder, and all obligations of
the Pledgor hereunder, shall be absolute and unconditional irrespective of:

          (a) any lack of validity or  enforceability  of any of the Obligations
     or any other agreement or instrument relating thereto, including the Credit
     Agreement or any of the other Loan Documents; or

          (b) any change in the time,  manner or place of payment  of, or in any
     other term of, all or any of the  Obligations,  or any other  amendment  or
     waiver of or any consent to any departure from the Credit  Agreement or any
     of the other Loan Documents,  or any other agreement or instrument relating
     thereto; or

          (c) any exchange,  release or  non-perfection of any other collateral,
     or any release or amendment  or waiver of or consent to departure  from any
     guaranty for all or any of the Obligations.

To the maximum  extent  permitted  by law,  Pledgor  hereby  waives any right to
require  Secured  Party to pursue  any other  remedy in  Secured  Party's  power
whatsoever.

     16.  Headings.  Section  and  subsection  headings  in this  Agreement  are
included  herein for  convenience  of reference  only and shall not constitute a
part of this Agreement or be given any substantive effect.

     17.  Severability.  In case  any  provision  in or  obligation  under  this
Agreement shall be invalid,  illegal or unenforceable in any  jurisdiction,  the
validity,   legality  and   enforceability   of  the  remaining   provisions  or
obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby.

     18.   Counterparts.   This  Agreement  may  be  executed  in  one  or  more
counterparts,  each of  which  shall  be  deemed  an  original  and all of which
together shall constitute one and the same Agreement.

     19. Waiver of Marshaling.  Pledgor and Secured Party  acknowledge and agree
that in  exercising  any rights  under or with  respect to the  Collateral:  (i)
Secured Party is under no obligation  to marshal any  collateral  pledged to it;
(ii) may, in its absolute discretion,  realize upon such Collateral in any order
and in any manner it so elects; and (iii) may, in its absolute discretion, apply
the proceeds of any or all of such Collateral to the obligations  secured by the
Collateral in any order and in any manner it so elects.

     20.  Benefit of All Banks.  Pledgor  agrees and  acknowledges  that Secured
Party executes this document as a Bank and as the Collateral Agent for the other
Banks  under  that  Credit  Agreement  and  any  and all  rights,  benefits  and
entitlements  under this Agreement in favor of Secured Party are for the benefit
of all Banks under the Credit Agreement.

                            [Signature Page Follows]

     IN WITNESS WHEREOF, Pledgor and Secured Party have caused this Agreement to
be duly executed and delivered by their officers thereunto duly authorized as of
the date first above written.

                              BORROWER:

                              CONTINENTAL RESOURCES, INC.,
                              an Oklahoma corporation

                              By:  ROGER CLEMENT
                                   Roger Clement, Sr. Vice President
                                   and Chief Financial Officer

                              SECURED PARTY:

                              GUARANTY BANK, FSB,
                              a federal savings bank, as Collateral Agent

                              By:  RICHARD MENCHACA
                                   Richard Menchaca, Vice President

                                                      SCHEDULE A

                                                            TO

                                                  STOCK PLEDGE AGREEMENT

                                                      Pledged Shares
<TABLE>
<CAPTION>
                                                                         Former Name, if   Pledgor's
                                      Number of           Certificate     any, in which    Percentage   Jurisdiction of
                   Issuer              Shares      Class   Number(s)   Certificate Issued  Ownership     Incorporation
                   ------              ------      -----   ---------   ------------------  ---------     -------------
<S>                                     <C>       <C>          <C>             <C>            <C>          <C>
Continental Gas, Inc.                   1,000     Common       #2              N/A            100%         Oklahoma
Continental Resources of Illinois,
Inc.                                    3,000     Common       #1              N/A            100%         Oklahoma
Continental Crude Co.                   1,000     Common       #1              N/A            100%         Oklahoma
</TABLE>COLLATERAL ASSIGNMENT OF CONTRACTS
                              (SECURITY AGREEMENT)

     In  consideration  of Ten and No/100  Dollars  ($10.00)  and other good and
valuable  consideration  in hand paid, the receipt and  sufficiency of which are
hereby  acknowledged  and confessed,  CONTINENTAL  RESOURCES,  INC., an Oklahoma
corporation (the "Debtor"),  having an address 302 N.  Independence,  Suite 300,
Enid, Oklahoma 73701 and GUARANTY BANK, FSB, a federal savings bank, as Bank and
as Collateral  Agent as defined under the Credit Agreement  hereinafter  defined
(the  "Secured  Party"),  having an  address  of 333 Clay  Street,  Suite  4430,
Houston, Texas 77002, agree as follows:

                                   Article I.

                        Assignment; Collateral; Security

     1.1  Assignment.  Debtor hereby conveys,  grants,  transfers and absolutely
assigns to Secured  Party,  its successors and assigns,  all right,  title,  and
interest  of such  Debtor  in, to and under the  collateral  (the  "Collateral")
described  or referred  to in this  Collateral  Assignment  of  Contracts  (this
"Assignment")  to secure all  amounts  due or owing to  Secured  Party by Debtor
under that certain Fourth Amended and Restated  Credit  Agreement  dated of even
date  herewith by and among Debtor,  Secured  Party as  Collateral/Documentation
Agent, Co-Arranger and a Bank, Union Bank of California, N.A., as Administrative
Agent, LC Issuer, Lead Arranger, Fronting Bank and a Bank, Fortis Capital Corp.,
as  Syndication   Agent,   Co-Arranger  and  a  Bank  and  the  other  financial
institutions and banks from time to time parties to the Credit Agreement (as the
same may be amended,  supplemented  or modified  from time to time,  the "Credit
Agreement")  and all other  obligations  to be performed by the Debtor under the
Credit Agreement,  including,  but not limited to, the indebtedness evidenced by
the Notes (as defined in the Credit Agreement);  together with any and all other
indebtedness  now or hereafter owed by Debtor to Secured  Party,  whether or not
currently contemplated and whether or not arising under the Credit Agreement.

     1.2  Collateral.  The Collateral  covered by this  Assignment is all right,
title and  interest of Debtor in and to the  Contracts  described on Exhibit "A"
attached  hereto and  incorporated  herein by reference  for all  purposes  (the
"Contracts"),  including all  amendments  of,  supplements  to, and renewals and
extensions  of the  Contracts  at any time  made;  together  with all  proceeds,
earnings,  income,  issues and profits  arising from the Contracts and all other
sums due or to become due under and pursuant thereto;  together with any and all
guarantees of or under any of the Contracts;  together with all proceeds payable
under any policy of insurance covering loss of income under any Contract for any
cause; together with all rights, powers, privileges, options, and other benefits
of Debtor under the Contracts,  including, but not by way of limitation, (a) the
immediate  and  continuing  right to receive and collect all  proceeds,  income,
revenues,  issues, profits,  damages, moneys, and security payable or receivable
under or with  respect to the  Contracts,  or pursuant to any of the  provisions
thereof, and (b) the right to make all waivers,  agreements, and settlements, to
give and receive all notices,  consents,  and releases, to take such action upon
the  happening of a default  under any  Contract,  including  the  commencement,
conduct,  and  consummation  of  proceedings  at law or in  equity  as  shall be
permitted  under any  provision of any Contract or by law, and to do any and all
other things, whatsoever, which Debtor is or may become entitled to do under the
Contracts;  SUBJECT,  however,  to the right and license  hereinafter granted to
Debtor by Secured Party.

     1.3 Security.  This Assignment is made and given as security for, and shall
remain in full force and effect until, (i) the payment in full of all principal,
interest,  and  premium,  if any,  on the Notes  and (ii) the full and  complete
performance  and  observance  by  Debtor  of all of the  terms,  covenants,  and
conditions  to be  performed  or  observed  by  Debtor  under  the  Notes,  this
Assignment, and the other Loan Documents (as defined in the Credit Agreement) to
which Debtor is a party.

                                   Article II

                       Representations; Covenants; Waivers

     2.1  Representations  and Covenants.  Debtor shall pay to Secured Party any
and all sums due or which may  become due  pursuant  to the Notes and the Credit
Agreement  in  accordance  with the terms of such  Notes and  Credit  Agreement,
respectively, and the terms of this Assignment. Upon Debtor's default under this
Assignment  following any applicable notice period as may be provided  hereunder
or under the Credit Agreement,  at the option of Secured Party, Debtor shall pay
immediately,  without  demand,  notice of any such  default or event,  notice of
intent to accelerate maturity, notice of acceleration of maturity or presentment
for payment or  acceleration  or any other act or notice  whatsoever  the entire
unpaid  indebtedness  of Debtor to Secured  Party  whether  created or  incurred
pursuant to this Assignment or otherwise.

     Debtor represents, warrants and agrees as follows:

     1.   Debtor  owns  the  Collateral  and  has  the  right  to  transfer  the
          Collateral as provided  herein,  the  Collateral is not subject to the
          interest of any third person  other than the parties to the  Contract,
          no financing statement covering the Collateral or its proceeds will be
          on file in any public office (other than financing statements in favor
          of Secured  Party),  and Debtor  will  defend the  Collateral  and its
          proceeds against the claims and demands of all third persons.

     2.   Debtor shall keep accurate and complete  records of the Collateral and
          its proceeds.

     3.   Debtor  will  promptly  notify  Secured  Party of any  occurrences  or
          circumstances  which  result in or are likely to result in the failure
          of any third party to any of the Contracts to perform its  obligations
          as described in such Contracts.

     2.2 Waivers by Debtor.  To the fullest  extent  permitted by applicable law
and, to the extent  applicable,  Debtor, for itself, its successors and assigns,
and each and every  person  with any  interest  in the  Collateral,  or any part
thereof,  whether  now  owned  or  hereafter  acquired,  hereby  waives  demand,
presentment for payment,  diligence in collection, and notice of non-payment and
protest;  hereby  consents and agrees to any  extension of time,  whether one or
more, for the payment thereof and/or to any and all renewals thereof; and hereby
consents and agrees that Secured Party may amend the terms thereof,  may release
all or any part of the security for the payment thereof,  without, in any event,
affecting  the  terms  or  effect  of  this  Assignment  or the  obligations  or
liabilities  hereunder of Debtor, its successors or assigns,  or any person with
any  interest  in the  Collateral,  or any part  thereof,  whether  now owned or
hereafter acquired.

                                   Article III

                               Default; Activation

     3.1 Events of Default.  Debtor  shall be in default  under this  Assignment
upon the  occurrence  of and  continuation  of any of the  events or  conditions
defined as Events of Default in  Section  7.01 of the Credit  Agreement  (herein
called an "Event of Default") beyond any applicable notice period.

     3.2 Declaration of Activation. Secured Party may, upon the occurrence of an
Event of Default,  execute and deliver, by depositing in the United States Mail,
postage  prepaid,  certified  mail,  addressed to Debtor at the address noted in
Section 5.4 of this  Assignment,  a  Declaration  of Activation of Assignment of
Proceeds (hereinafter  referred to as a "Declaration of Activation"),  declaring
that Secured Party  terminates the license granted to Debtor pursuant to Section
4.4 hereof and thereafter  shall  exercise its rights under this  Assignment and
declares that  constructive  possession  of the  Collateral is vested in Secured
Party and that all of the legal and equitable  interest in the proceeds,  issues
and profits of the  Collateral is vested in Secured Party.  Said  Declaration of
Activation  shall not be deemed  ineffective  or deficient by reason of the fact
that it may contain any matter or matters in  addition  to the  foregoing  or by
reason of the fact that no specific Event of Default is set forth therein.  Said
Declaration of Activation shall be in effect immediately upon its deposit in the
United States Mail.

                                   Article IV

                             Rights of Secured Party

     4.1  Powers  of  Secured  Party.  After  the  occurrence  of  an  Event  of
Activation, Secured Party, without in any way waiving any default, shall, at its
option, have the complete right, power and authority,  at any time thereafter to
terminate the right and license  granted to Debtor  hereunder and thereafter may
transfer the  Collateral  to itself or its nominee,  receive  income  thereon or
therefrom, and apply such income first to any costs incurred by Secured Party in
connection with the Notes, or the Credit Agreement, second to accrued but unpaid
interest due under the Notes, and third to reduction of the principal balance of
the Notes,  Debtor remaining liable for any deficiency.  Secured Party may delay
exercising or elect not to exercise any right or remedy under this Assignment or
any indebtedness  secured hereby without waiving that or any other past, present
or future right or remedy.  Secured  Party's  exercising  its right to apply the
Collateral and/or proceeds from the Collateral toward its indebtedness shall not
constitute an election of remedies, therefore Debtor shall remain liable for any
deficiency  and Secured  Party may  exercise or enforce any and all other rights
and remedies it may have after enforcing its remedies  hereunder.  Secured Party
shall have the rights,  powers and remedies of a secured party under the Uniform
Commercial  Code under the Texas  Business  and Commerce  Code.  Notwithstanding
anything to the contrary in this Assignment,  if any applicable provision of any
law requires Secured Party to give reasonable  notice of any sale or disposition
or other action,  Debtor  hereby agrees that ten (10) days prior written  notice
shall constitute reasonable notice thereof.

     Debtor  further agrees that after the occurrence of an Event of Activation,
Secured Party may at any time thereafter demand that all proceeds of any and all
Collateral  be paid to Secured  Party whether or not there are any sums then due
on any indebtedness  secured hereby, and Debtor authorizes any obligor under any
of said Collateral to pay any sums so demanded to Secured Party.

     4.2  Attorney-in-Fact.  Debtor further agrees, at its expense, to do, make,
procure, assign, endorse, and deliver all acts, things, writings, and assurances
as Secured  Party may at any time  require to  protect,  assure,  or enforce its
interest and remedies created by this  Assignment;  including but not limited to
any check, endorsement, certificate, or any other instrument required by Secured
Party.  Debtor further agrees that while any Event of Default  remains  uncured,
Secured  Party may following a  Declaration  of  Activation  receive any and all
proceeds or income from the Collateral,  and Secured Party may execute,  assign,
and endorse appropriate  receipts,  releases and satisfaction,  or negotiable or
non-negotiable instruments, or any other instruments or documents in the name of
and as agent for Debtor, or in its own name, which Debtor has agreed to execute,
sign,  or endorse  herein or under the  Contract,  and  Secured  Party is hereby
constituted  and  appointed the agent and  attorney-in-fact  of Debtor to do all
acts  with  respect  to the  Contracts  and to  execute  and  endorse  all  such
instruments.  Debtor  agrees  that this power of  attorney  is  coupled  with an
interest  and  shall  not be  revoked  until all  indebtedness  secured  by this
Assignment  has been  paid in  full.  Without  limiting  the  generality  of the
foregoing,  Secured  Party  shall be  entitled  at any time to file,  and Debtor
hereby  authorizes  Secured Party to file, a Uniform  Commercial  Code Financing
Statement or this  Agreement (or any amendment to either such  instrument)  or a
carbon,  photographic,  or other reproduction of this Agreement,  as a financing
statement (or  amendment  thereto),  in any form or medium  provided by the UCC,
with or without  Debtor's  signature,  but the failure of Secured Party to do so
shall not impair the validity or enforceability of this Agreement.

     4.3  Direction  to  Party  to  Contract.  Debtor  hereby  consents  to  and
irrevocably  authorizes  and  directs the parties  under the  Contracts  and any
successors to the interest of said parties,  upon demand and notice from Secured
Party of the right of Secured  Party to receive the proceeds  and other  amounts
payable under such Contracts  following a Declaration  of Activation,  to pay to
Secured  Party the  proceeds  and other  amounts  due or to become due under the
Contracts,  and said  parties  shall have the right to rely upon such demand and
notice  from  Secured  Party and shall pay such  proceeds  and other  amounts to
Secured Party without any obligation or right to determine the actual  existence
of the right of  Secured  Party to  receive  such  proceeds  and other  amounts,
notwithstanding  any notice from or claim of Debtor to the contrary,  and Debtor
shall not have any right or claim against said parties for any such proceeds and
other  amounts so paid by said parties to Secured  Party.  Debtor  hereby agrees
that, at the request of Secured Party,  Debtor will furnish each party under any
Contract with a true and complete copy of this Assignment.

     4.4 License to Debtor.  Notwithstanding the foregoing provisions making and
establishing a present and absolute transfer and assignment of the Contracts and
the proceeds,  earnings,  income, and profits arising  therefrom,  so long as no
Event of Activation shall have occurred, Debtor shall have the right and license
to collect, use, and enjoy the proceeds, issues, profits, and other sums payable
under and by virtue of any  Contract,  but only as the same become due under the
provisions of such  Contract,  and to enforce the covenants of each Contract and
amend,  supplement or renew each Contract as required in the ordinary  course of
business.

     4.5 Rights  Optional.  Secured  Party shall not be  obligated to perform or
discharge any obligation,  duty, or liability of Debtor, nor shall Secured Party
be  responsible  for its failure to exercise or enforce any rights granted to it
under this Assignment.  Any failure or omission by Secured Party to enforce this
Assignment for any period of time shall not impair the force or effect hereof or
prejudice the rights of Secured  Party,  and Secured Party shall not be required
under this Assignment to exercise or enforce any of the rights herein granted to
it, it being  understood that all matters  contained  herein are strictly within
the discretion of Secured Party.

     By executing  this  Assignment,  Debtor  agrees that Secured Party does not
assume  any  of  Debtor's   obligations  or  duties  concerning  the  Contracts,
including,  but  not  limited  to,  any  obligation  of  performance  under  the
Contracts.

     4.6  Rights  Cumulative.  No  right  or  remedy  herein  conferred  upon or
otherwise  available to Secured Party is intended to be or shall be construed to
be exclusive of any other right or remedy,  but each and every one of the rights
and remedies of Secured Party  hereunder are  cumulative and not in lieu of, but
in addition to, any rights or remedies  which  Secured  Party may have under the
Loan  Documents,  at law,  or in equity,  any and all of which  such  rights and
remedies may be exercised by Secured  Party prior to,  simultaneously  with,  or
subsequent  to any action  taken  hereunder.  Any and all rights and remedies of
Secured  Party may be exercised  from time to time and as often as Secured Party
deems such exercise to be  expedient,  and the delay or failure of Secured Party
to  avail  itself  of any of the  terms,  provisions,  and  conditions  of  this
Assignment for any period of time, at any time or times,  shall not be construed
or  deemed  to be or  constitute  a waiver or  impairment  thereof.  No delay or
omission to exercise  any right or power  accruing  upon any default or Event of
Default  shall  impair  any such  right or power or shall be  construed  to be a
waiver of any such default or Event of Default or an acquiescence  therein;  nor
shall the giving,  taking,  or enforcement of any other or additional  security,
collateral,  or guaranty for the payment of the indebtedness  secured under this
Assignment  operate  to  prejudice,  waive,  or  affect  the  security  of  this
Assignment or any rights, powers, or remedies hereunder; nor shall Secured Party
be required to first look to, enforce, or exhaust,  any such other or additional
security,  collateral, or guaranty. Secured Party hereby further agrees that (a)
none of the rights or remedies of Secured Party  available  under any other Loan
Document  or  otherwise  shall  be  delayed  or in any  way  prejudiced  by this
Assignment;  (b) notwithstanding any variation or modification,  at any time, of
the terms of the Notes, the Credit Agreement,  and/or any other Loan Document or
any  extension of time for payment  thereunder or under the Notes or any release
of part or parts of the security  conveyed under any of the Loan Documents,  the
Contracts  and  all  of  the  benefits  assigned  hereunder  shall  continue  as
additional security in accordance with the terms hereof; and (c) each and all of
the Contracts shall remain in full force and effect.

     4.7 No Waiver. Debtor hereby agrees that the collection of proceeds and the
application  as aforesaid,  the taking of possession of the  Collateral,  or any
part  thereof,  or the  exercise of any other  right or remedy by Secured  Party
shall not cure or waive any Event of Default hereunder; waive, modify, or affect
any Declaration of Activation or other notice given hereunder; cure or waive any
default;  waive,  modify, or affect any notice of default under the Notes or any
of the Loan  Documents;  affect or impair  any other  right or remedy of Secured
Party; or invalidate any act done pursuant to any such Declaration of Activation
or other notice.  The enforcement of any right or remedy by Secured Party,  once
exercised,  shall  continue  for so long as Secured  Party shall  elect,  and if
Secured Party shall  thereafter  elect to  discontinue  the exercise of any such
right or  remedy,  then the same or any  other  right  or  remedy  hereunder  or
otherwise available may be reasserted at any time and from time to time upon any
subsequent or continuing default.

     4.8  Indulgences  by Secured  Party.  In the event that  Secured  Party (a)
grants any extension of time or  forbearance  with respect to the payment of any
indebtedness secured by this Assignment;  (b) takes other or additional security
for the  payment  thereof;  (c) waives or fails to  exercise  any right  granted
herein or under the Notes, the Credit Agreement or any Loan Document; (d) grants
any  release,  with or  without  consideration,  of the whole or any part of the
security held for the payment of the debts secured  hereby or the release of any
person  liable for  payment of such  debts;  or (e) amends or  modifies,  in any
respect,  any of the terms  and  provisions  hereof  or of the Notes  (including
substitution of other Notes), the Credit Agreement or any of the Loan Documents;
then and in any such event, such act or omission to act shall not release Debtor
or any co-makers,  sureties, or guarantors of this Assignment or the Notes under
any covenant of this  Assignment  or the Notes nor preclude  Secured  Party from
exercising  any right,  power,  or  privilege  herein  granted or intended to be
granted in the event of any other  default or Event of Default  then made or any
subsequent default or Event of Default, nor in any way impair or affect the lien
or priority of this Assignment or any other Loan Document.

                                    Article V

                            Miscellaneous Provisions

     5.1  Successors  of Debtor.  In the event of the sale or transfer of all or
any part of the Collateral,  by operation of law or otherwise,  Secured Party is
authorized  and  empowered to deal with the  transferee  with  reference to this
Assignment,  the Collateral,  or the debts secured hereby,  or with reference to
any of the terms or conditions contained herein, as fully and to the same extent
as it might deal with Debtor and without in any way releasing or discharging any
liabilities of Debtor  hereunder or under the Notes, the Credit Agreement or the
other Loan Documents.

     5.2 Successors and Assigns.  This Assignment shall be assignable by Secured
Party,  and all  representations,  warranties,  covenants,  powers,  and  rights
hereunder  contained  shall be binding upon Secured Party and Debtor,  and their
respective  successors  and  assigns,  and shall inure to the benefit of Secured
Party, and its successors and assigns,  and Debtor,  and, but only to the extent
permitted hereunder, its successors and assigns.

     5.3 Expenses of Secured Party. If Secured Party is made a party to any suit
or proceeding by reason of the interest of the Secured Party in the  Collateral,
or if the  Notes,  this  Assignment,  the  Credit  Agreement,  or any other Loan
Document is placed in the hands of an attorney or attorneys to defend or enforce
any rights of Secured Party,  then Debtor shall reimburse  Secured Party for all
costs and  expenses,  including  attorneys'  fees,  incurred by Secured Party in
connection  therewith.  All amounts incurred by Secured Party hereunder shall be
secured hereby and shall be due and payable by Debtor to Secured Party forthwith
on  demand,  with  interest  thereon  at the rate at which  interest  accrues on
amounts due under the Notes after the same become due.

     5.4 Notices.  All notices,  demands,  or documents of any kind which may be
required or  permitted  to be served by either party hereto upon or to the other
shall be effective upon delivery if served by delivering the same  personally or
by sending the same in the United States Mail, postage prepaid,  certified mail,
addressed to Debtor or Secured Party, as the case may be, at its address, as set
forth above, or at such other address as either Debtor or Secured Party may from
time to time  designate by like notice to the other or as otherwise  provided by
the Credit Agreement. Any notice so mailed shall be deemed to have been given on
the date delivered.

     5.5 Amendment. Neither this Assignment nor any term, covenant, or condition
hereof may be  amended,  modified,  or  terminated,  except by an  agreement  in
writing,  signed  by the  party  against  whom  enforcement  of  the  amendment,
modification, or termination is sought.

     5.6 Construction. The Notes, this Assignment, the Credit Agreement, and the
other Loan Documents  shall be construed  without  regard to any  presumption or
rule  requiring  construction  against the party causing such  instruments to be
drafted.  The headings and captions  contained in this Assignment are solely for
convenience of reference and shall not affect its interpretation.  All terms and
words used in this Assignment,  whether singular or plural and regardless of the
gender thereof, shall be deemed to include any other number and any other gender
as the context may require.

     5.7 Severability. If any term, covenant, or condition of this Assignment or
the application thereof to any person or circumstance,  shall, to any extent, be
invalid  or  unenforceable,  then  the  remainder  of  this  Assignment  or  the
application  of such term,  covenant,  or condition to persons or  circumstances
other than those as to which it is held invalid or  unenforceable,  shall not be
affected thereby, and each term, covenant and condition of this Assignment shall
be valid and enforceable to the fullest extent permitted by applicable law.

     5.8  Counterparts.  This  Assignment  may be  executed,  acknowledged,  and
delivered  in any number of  counterparts,  each of which  shall  constitute  an
original, but, all together, only one instrument.

     5.9 Duration.  This Assignment  shall become null,  void, and of no further
force or effect  upon the payment in full of any  indebtedness  under the Notes,
the Credit Agreement, this Assignment,  and the other Loan Documents;  whereupon
the lien and security  interest hereof shall be released at the cost and expense
of the Debtor,  and any Collateral held by Secured Party and not then covered by
any of the other Loan  Documents  shall be  reconveyed to Debtor at the cost and
expense of Debtor.

     5.10  Applicable Law. The law governing this  transaction  shall be that of
the State of Texas, except that the rate of interest that may be contracted for,
charged or received on the indebtedness or obligations described herein shall be
construed  pursuant to the applicable  federal or state law whichever allows the
highest rate of interest.

     5.11  Benefit of All Banks.  Debtor  agrees and  acknowledges  that Secured
Party executes this document as a Bank and as the Collateral Agent for the other
Banks  under  the  Credit  Agreement  and  any  and  all  rights,  benefits  and
entitlements  under this Agreement in favor of Secured Party are for the benefit
of all Banks under the Credit Agreement.

                            [Signature Page Follows]

     EXECUTED this 28th day of March, 2002.

                             DEBTOR:

                             CONTINENTAL RESOURCES, INC.
                             an Oklahoma corporation

                             By:  ROGER CLEMENT
                                  Roger Clement, Sr. Vice President
                                  and Chief Financial Officer

                             SECURED PARTY:

                             GUARANTY BANK, FSB,
                             as Collateral Agent

                             By:  RICHARD MENCHACA
                                  Richard Menchaca
                                  Vice President
<PAGE>

THE STATE OF OKLAHOMA        )
                             )
COUNTY OF OKLAHOMA           )

     BEFORE ME, the undersigned authority, on this day personally appeared Roger
Clement,   Sr.  Vice  President  and  Chief  Financial  Officer  of  Continental
Resources,  Inc.,  an Oklahoma  corporation,  known to me to be the person whose
name is subscribed to the foregoing  instrument,  and acknowledged to me that he
executed the same for the purposes and consideration  therein expressed,  as the
act and deed of said corporations and in the capacity therein stated.

     GIVEN UNDER MY HAND AND SEAL OF OFFICE this      day of March, 2002.

                                      NOTARY PUBLIC, STATE OF OKLAHOMA

THE STATE OF OKLAHOMA         )
                              )
COUNTY OF OKLAHOMA            )

     BEFORE ME,  the  undersigned  authority,  on this day  personally  appeared
Richard Menchaca,  Vice President of Guaranty Bank, FSB, a federal savings bank,
as  Collateral  Agent,  known to me to be the person whose name is subscribed to
the foregoing  instrument,  and acknowledged to me that he executed the same for
the purposes and consideration  therein  expressed,  as the act and deed of said
bank and in the capacity therein stated.

     GIVEN UNDER MY HAND AND SEAL OF OFFICE this      day of March, 2002.

                                      NOTARY PUBLIC, STATE OF OKLAHOMA
<PAGE>

                                   EXHIBIT "A"

                                    CONTRACTS

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