Document:

EXECUTION
        VERSION

      

        Exhibit
          10.8

      

    

     

    ASSIGNMENT,
      BILL OF SALE AND CONVEYANCE

     

    STATE
      OF
      TEXAS

     

    COUNTY
      OF
      BRAZORIA

     

    This
      ASSIGNMENT,
      BILL OF SALE AND CONVEYANCE (this
      “Assignment”)
      is
      dated the 18th day of September, 2007, but effective as of the 1st day of July,
      2007, at 7:00 a.m., local time where the Properties (as such term is defined
      below) are located (the “Effective
      Time”),
      is
      from PRIME
      NATURAL RESOURCES, INC.,
      a
      Texas corporation, whose address is 2500 City West Boulevard, Suite 1750
      Houston, Texas 77042 (“Seller”)
      to ICF
      ENERGY CORPORATION, a Texas corporation, whose address is 1400 Woodloch Forest
      Drive, Suite 530, The Woodlands, Texas 77380 (“Purchaser”).

     

    FOR
      Ten
      Dollars and other good and valuable consideration, the receipt and sufficiency
      of which are hereby acknowledged, Seller has GRANTED,
      BARGAINED, SOLD, CONVEYED, ASSIGNED, TRANSFERRED, SET OVER
      and
DELIVERED
      and
      hereby GRANTS,
      BARGAINS, SELLS, CONVEYS, ASSIGNS, TRANSFERS, SETS OVER
      and
DELIVERS
      unto
      Purchaser, effective as of the Effective Time, the following (collectively,
      the
“Properties,”
and
      individually, a “Property”):

     

    All
      of
      Seller’s right, title and interest in and to the oil and gas leases and minerals
      described or referred to in Exhibit
      A-1
      attached
      hereto and made a part hereof, and all other lands described or referred to
      in
Exhibit
      A-1,
      it
      being the intent of Seller to convey, and Seller does hereby convey to
      Purchaser, all right, title and interest in any wells and plants located on
      such
      leases and lands, including, without limitation, the wells described or referred
      to in Exhibit
      A-2
      attached
      hereto, and it also being the intent of Seller to convey, and Seller does hereby
      convey to Purchaser all of Seller’s right, title and interest in, to and under
      such leases, even though such interests, the lands covered thereby, or the
      leases themselves be incorrectly or qualitatively or quantitatively deficient
      and/or insufficiently described in, or a description of any such interest,
      leases or lands be omitted from Exhibit
      A-1,
      together with:

     

    (a)
      all
      of Seller’s right, title and interest in equipment, personal property and
      fixtures in, on and under the property described in Exhibits
      A-1 and A-2,
      including gas processing plants and gas gathering systems which are used with
      oil and/or gas operations thereon or thereunder, held for use in connection
      therewith or servicing the same, including, without limitation, the wells,
      injection wells, salt water disposal facilities, well heads, casing, tubing,
      pumps, motors, gauges, valves, heaters, treaters, gathering lines, flow lines,
      gas lines, water lines, vessels, tanks, boilers, equipment, separators,
      buildings, compressors, pipelines, power lines, machinery and other
      facilities;

     

    (b)
      all
      of Seller’s right, title and interest in, to and under or derived from
      unitization, pooling and operating agreements and the units created thereby
      (including any and all units formed under orders, regulations, rules or other
      official acts of the Governmental Authority having jurisdiction), whether
      recorded or unrecorded, insofar as the same cover or relate to the leases and
      lands described in Exhibit
      A-1;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (c)
      all
      of Seller’s right, title and interest, including future income, in, to and under
      or received from any production payments sales, purchase and processing
      contracts and agreements, including the gas processing rights and agreements
      associated with any gas processing plants, insofar as the same relate to any
      and
      all wells described in Exhibit
      A-2,
      including, without limitation, all permits, franchises, licenses, surface
      leases, servitudes, easements and rights-of-way relating to such wells or gas
      plants;

     

    (d)
      all
      of Seller’s right, title and interest in and to any rights which Seller may have
      under indemnifications, warranties, and covenants under prior conveyances
      affecting the interests sold, conveyed, transferred and assigned
      herein;

     

    (e)
      all
      of Seller’s right, title and interest in and to all petroleum and hydrocarbons
      stored upon or produced from the leases, lands, and wells described in
Exhibits
      A-1 and A-2
      or from
      any property pooled or unitized therewith which are attributable to the leases,
      lands, and wells described in Exhibits
      A-1 and A-2,
      pursuant to contract or otherwise;

     

    (f)
      all
      of Seller’s right, title and interest in and to all contracts and contractual
      rights relating to the leases, lands, and wells described in Exhibits
      A-1 and A-2
      and to
      the foregoing property to the extent valid and subsisting;

     

    (g)
      to
      the extent not prohibited by third party contracts, all of the files, records
      and data relating to the leases, lands, and wells described in Exhibits
      A-1 and A-2
      and to
      the items described in subsections (a) through (f) above (the “Records”),
      including, without limitation, title records (including abstracts of title
      and
      title curative documents); contracts; correspondence; microfiche lists; computer
      output; geological, geophysical and seismic records, plats, surveys, maps,
      cross-sections, data, and interpretive reports; engineering reports, whether
      produced by Seller’s personnel or outside consultants; and production records,
      electric logs, cuttings, cores, core data, pressure data and decline curves
      and
      graphical production curves, well files and all related matters; provided,
      that
      Seller has rights to make and retain copies of such Records as Seller may desire
      prior to the delivery of the Records to Purchaser and access to the Records
      as
      Purchaser may have in its possession in the future; and

     

    (h)
      the
      benefit of and the right to enforce the covenants and warranties, if any, which
      Seller is entitled to enforce with respect to the items described in the
      preceding paragraphs (a) through (g) against Seller’s predecessors in title
      thereto; and Purchaser and its successors, assigns and legal representatives
      shall be substituted and fully subrogated, to the extent assignable, in and
      to
      all covenants and warranties, if any, by Seller’s predecessors in title, with
      full subrogation of all rights accruing under the statutes of limitation or
      prescription. 

     

    Excluded
      Properties.
      The
      Properties do not include, and there is hereby expressly excepted and reserved
      to Seller (collectively the “Excluded
      Properties”):
      (A)
      all of Seller’s minute books, financial records, and other business records that
      relate to Seller’s business generally (excluding the ownership and operation of
      the Properties); (B) all trade credits, all accounts, receivables and all other
      proceeds, income or revenues attributable to the Properties with respect to
      any
      period of time prior to the Effective Time; (C) all claims and causes of action
      of Seller arising under or with respect to any contracts and agreements that
      are
      attributable to periods of time prior to the Effective Time (including claims
      for adjustments or refunds); (D) all rights and interests of Seller under any
      policy or agreement of insurance or indemnity, under any bond or to any
      insurance or condemnation proceeds or awards arising, in each case, from acts,
      omissions or events, or damage to or destruction of property prior to the
      Effective Time; (E) all oil, gas and other hydrocarbons produced and sold from
      the Properties with respect to all periods prior to the Effective Time; (F)
      all
      claims of Seller for refunds of or loss carry forwards with respect to
      production or any other taxes attributable to any period prior to the Effective
      Time, income or franchise taxes or any taxes attributable to the Excluded
      Properties; (G) all of Seller’s proprietary computer software, patents, trade
      secrets, copyrights, names, trademarks, logos and other intellectual property;
      (H) all documents and instruments of Seller that may be protected by an
      attorney-client privilege; (I) all audit rights arising under any of the
      contracts and agreements or otherwise with respect to any period prior to the
      Effective Time or to any of the Excluded Properties; (J) documents prepared
      or
      received by Seller with respect to lists of prospective purchasers for such
      transactions compiled by Seller, correspondence between or among Seller, its
      representatives, and any prospective purchaser other than Purchaser and
      correspondence between Seller or any of its respective representatives with
      respect to any of such prospective purchaser other than Purchaser, the
      prospective purchasers, or the transactions contemplated in that certain
      PURCHASE AND SALE AGREEMENT (a copy of which may be obtained from Purchaser
      at
      the above referenced address) dated the 31st day of August, 2007 by and between
      Seller and Purchaser (the “Purchase
      Agreement”);
      (K)
      all of Seller’s employee benefit plans, including all rights, obligations and
      assets related thereto; and (L) all of Seller’s rights and obligations under
      accounting and human resources outsource contracts.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    Purchaser
      shall not be responsible for, and Seller expressly retains, all liabilities
      related to the Excluded Properties, whether such liabilities arise before or
      after the Effective Time. It is understood that certain of the Excluded
      Properties may not be embraced by the term “Properties”. The fact that certain
      properties, rights and interests have been expressly excluded is not intended
      to
      suggest that had they not been excluded they would have constituted Properties
      and shall not be used to interpret the meaning of any word or phrase used in
      describing the Properties.

     

    TO
      HAVE
      AND TO HOLD
      the
      Properties unto Purchaser and its successors and assigns forever, and, and
      this
      Assignment is made with full rights of substitution and subrogation of Purchaser
      in and to all indemnifications, covenants, and warranties by others heretofore
      given or made with respect to the Properties, subject to the following terms
      and
      conditions:

     

    1. Special
      Warranty of Title.
      Except
      with respect to matters to which this Assignment is made subject, Seller does
      hereby bind itself and its successors and assigns to WARRANT
      AND FOREVER DEFEND
      the
      interests in and to the Properties as set forth on Exhibits
      A-1 and A-2
      against
      every person whomsoever lawfully claiming the same or any part thereof by,
      through, or under Seller, but not otherwise, and does otherwise bind itself
      and
      its successors and assigns to WARRANT
      AND FOREVER DEFEND
      all and
      singular title to the Properties unto Purchaser, its successors and assigns,
      against every person whomsoever lawfully claiming the same or any part thereof
      by, through or under Seller, but not otherwise, as follows:

     

    (i) Seller
      is
      entitled to receive (free and clear of all royalties, overriding royalties,
      non-participating royalties, net profits interests, production payments, or
      other burdens on or measured by production of hydrocarbons) not less than the
      interest shown in Exhibit
      A-2
      (the
      decimal interest shown in the column in such Exhibit with the caption,
“NRI”)
      of all
      hydrocarbons produced, saved, and marketed from the applicable Property and
      of
      all hydrocarbons produced, saved and marketed from any unit of which the
      Property is a part and allocated to such Property, all without reduction,
      suspension, or termination of the interests in the relevant Property or Seller’s
      right to gross or net proceeds from the relevant Property throughout the
      duration of such Property, except as stated in Exhibit
      A-2;

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (ii) Seller
      is
      obligated to bear a percentage of the costs and expenses relating to the
      maintenance and development of, and operations relating to, the applicable
      Property and wells associated with the Property not greater than the working
      or
      expense-bearing interest shown in Exhibit
      A-2
      (the
      decimal interest shown in the column in such Exhibit with the caption,
“WI”)
      without increase of the working interest in the relevant Property throughout
      the
      duration of such Property, except as stated in Exhibit
      A-2;
      and

     

    (iii) the
      Properties are free and clear (except for Permitted Encumbrances, as such term
      is defined in the Purchase Agreement) of liens, encumbrances, obligations,
      or
      defects which arise as a result of actions taken (or effective) or omitted
      at or
      prior to the Effective Time, and (A) are otherwise subject only to contractually
      binding arrangements which are conventional, which are customarily experienced
      in the oil and gas industry, and (B) are not subject to any matters which will
      result in a breach of any representation or warranty of Seller made in this
      Assignment or to be contained in any documents to be delivered by Seller and
      connected with this Assignment.

     

    2. DISCLAIMER.
      THE SPECIAL WARRANTY OF SELLER CONTAINED IN SECTION 1 ABOVE IS EXCLUSIVE AND
      IS
      IN LIEU OF ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED, STATUTORY
      OR OTHERWISE, AND, WITHOUT LIMITATION ON THE SPECIAL WARRANTY CONTAINED IN
      SECTION 1 ABOVE, SELLER EXPRESSLY DISCLAIMS, AND PURCHASER HEREBY EXPRESSLY
      WAIVES ANY RIGHT OR CAUSE OF ACTION ARISING FROM OR RELATING TO, ANY AND ALL
      OTHER REPRESENTATIONS AND WARRANTIES. WITHOUT LIMITATION OF THE FOREGOING,
      EXCEPT FOR THE SPECIAL WARRANTY CONTAINED IN SECTION 1 ABOVE, THE PROPERTIES
      SHALL BE CONVEYED PURSUANT HERETO WITHOUT ANY WARRANTY OR REPRESENTATION WHETHER
      EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, RELATING TO THE CONDITION, QUANTITY,
      QUALITY, FITNESS FOR A PARTICULAR PURPOSE, CONFORMITY TO THE MODELS OR SAMPLES
      OF MATERIALS OR MERCHANTABILITY OF ANY EQUIPMENT FOR ITS FITNESS FOR ANY
      PURPOSE. SUBJECT TO THE TERMS OF THE PURCHASE AGREEMENT, PURCHASER HAS
      INSPECTED, OR WAIVED ITS RIGHT TO INSPECT, THE PROPERTIES FOR ALL PURPOSES
      AND
      SATISFIED ITSELF AS TO THEIR PHYSICAL AND ENVIRONMENTAL CONDITION, BOTH SURFACE
      AND SUBSURFACE, INCLUDING BUT NOT LIMITED TO CONDITIONS SPECIFICALLY RELATED
      TO
      THE PRESENCE, RELEASE OR DISPOSAL OF HAZARDOUS SUBSTANCES, SOLID WASTES,
      ASBESTOS AND OTHER MAN MADE MATERIAL FIBERS, OR NATURALLY OCCURRING RADIOACTIVE
      MATERIALS (COLLECTIVELY, “HAZARDOUS
      WASTES”).
      PURCHASER IS RELYING UPON ITS OWN INSPECTION OF THE PROPERTIES, AND PURCHASER,
      SUBJECT TO THE TERMS OF THE PURCHASE AGREEMENT, HEREBY ACCEPTS ALL OF THE SAME
      IN THEIR “AS IS, WHERE IS” CONDITION. SELLER DISCLAIMS ALL LIABILITY ARISING IN
      CONNECTION WITH THE PRESENCE OF ANY HAZARDOUS WASTES ON THE PROPERTIES. IN
      ADDITION, SELLER AND ITS REPRESENTATIVES MAKE NO WARRANTY OR REPRESENTATION,
      EXPRESS OR IMPLIED, AS TO THE ACCURACY OR COMPLETENESS OF ANY DATA, INFORMATION
      OR MATERIALS HERETOFORE OR HEREAFTER FURNISHED PURCHASER IN CONNECTION WITH
      THE
      PROPERTIES OR AS TO THE QUALITY OR QUANTITY OF OIL, GAS AND OTHER HYDROCARBON
      RESERVES (IF ANY) ATTRIBUTABLE TO THE PROPERTIES OR THE ABILITY OF THE
      PROPERTIES TO PRODUCE OIL, GAS AND OTHER HYDROCARBONS. ANY AND ALL SUCH DATA,
      INFORMATION AND OTHER MATERIALS FURNISHED BY SELLER AND ITS REPRESENTATIVES
      WAS
      PROVIDED TO PURCHASER AS A CONVENIENCE AND ANY RELIANCE ON OR USE OF THE SAME
      HAS BEEN AND SHALL BE AT PURCHASER’S SOLE RISK TO THE MAXIMUM EXTENT PERMITTED
      BY LAW.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    3. Agreements.
      This
      Assignment is made subject to and shall be burdened by the terms, covenants
      and
      conditions contained in any contracts, agreements and instruments affecting
      the
      Properties; and at and after the Effective Time, with respect to the contracts,
      agreements, and instruments that are described on Exhibit
      A-3
      attached
      hereto, Purchaser agrees to be bound by, assume the obligations and rights
      arising under, and, from and after the Effective Time, perform all of the terms,
      covenants and conditions contained therein to which Seller is presently a
      party.

     

    4. Compliance
      With Laws:
      This
      Assignment is made subject to all applicable laws, statutes, ordinances,
      permits, decrees, orders, judgments, rules and regulations which are
      promulgated, issued or enacted by a governmental entity having appropriate
      jurisdiction, and Purchaser shall comply with the same from and after the date
      of this Assignment.

     

    5. Successors
      and Assigns.
      The
      terms, covenants and conditions contained in this Assignment shall be binding
      upon and inure to the benefit of the parties hereto and their respective
      successors, assigns, and legal representatives. 

     

    6. Covenants
      Running with the Land.
      The
      terms, covenants and conditions hereof shall be covenants running with the
      land
      and with each subsequent sale, conveyance, transfer or assignment of the
      Properties, or any part thereof. 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    7. Purchase
      Agreement.
      This
      Assignment is made in accordance with and is subject to the terms, covenants
      and
      conditions contained in the Purchase Agreement.
      Seller
      and Purchaser acknowledge and agree that in the event of any conflict or
      inconsistency between the terms and provisions of the Purchase Agreement and
      the
      terms and provisions of this Assignment, the terms and provisions of the
      Purchase Agreement shall control. 

     

    8. Further
      Assurances.
      Seller
      and Purchaser agree to deliver or cause to be delivered to each other any
      additional instrument that the other party may reasonably request for the
      purpose of carrying out the intent of this Assignment. Seller shall execute,
      acknowledge and deliver all such further conveyances, transfer orders, division
      orders, notices, assumptions, releases and acquittances, and such other
      instruments, and shall take such further actions as may be necessary or
      appropriate to assure fully to Purchaser, its successors, assigns, and legal
      representatives, the conveyance of all of the Properties intended to be conveyed
      to Purchaser by the parties hereto. 

     

    9. No
      Rights Created in Third Parties.
      The
      references herein to liens, encumbrances, burdens, defects and other matters
      are
      for the purpose of defining the nature and extent of Seller’s warranty and shall
      not be deemed to ratify or create any rights in third parties. Except as
      otherwise provided herein, the terms and conditions of this Assignment shall
      inure to the benefit of, and be binding upon, the respective successors,
      assigns, and legal representatives of the parties hereto. Neither this
      Assignment nor any other agreement contemplated hereby shall be deemed to confer
      upon any person not a party hereto or thereto any rights or remedies hereunder
      or thereunder. 

     

    10. Counterparts;
      Exhibits.
      This
      Assignment may be executed in one or more counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument. All Exhibits attached hereto are an integral part of this Assignment
      and are hereby made a part of this Assignment and incorporated herein by this
      reference. Any reference to this Assignment includes such Exhibits.

     

    11. Recording.
      Purchaser shall, at its own expense, record or cause to be recorded this
      Assignment in the county or counties in which the Properties are located.

     

    12. Governing
      Law.
      THIS
      ASSIGNMENT SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE LAWS
      OF
      THE STATE OF TEXAS, WITHOUT REGARD TO ITS CONFLICT OF LAW RULES THAT WOULD
      DIRECT APPLICATION OF THE LAWS OF ANOTHER JURISDICTION, EXCEPT TO THE EXTENT
      THAT IT IS MANDATORY THAT THE LAW OF SOME OTHER JURISDICTION, WHEREIN ANY OF
      THE
      PROPERTIES ARE LOCATED, SHALL APPLY.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, this Assignment is executed on the day and year first
      referenced above, but effective as of the Effective Time. 

    
      	 	 	 
	 	
              
              

              SELLER:

               

              
                PRIME
                  NATURAL RESOURCES, INC.

              

            
	 
 	 
 	 
 
	
            	By:  	/s/
              John R. Hager
	 	
              

              Printed
                Name: John R. Hager 

              Title:
                Chief
                Financial Officer

            

    

    
      
        	 	 	 
	 	
                
                

                PURCHASER:

                 

                
                  
                    ICF
                      ENERGY CORPORATION

                  

                

              
	 
 	 
 	 
 
	
              	By:  	/s/
                John
                I. Folnovic
	 	
                

                
                  John
                    I. Folnovic,

                  President
                    and CEO

                

              

      

       

    

    STATE
      OF
      TEXAS

     

    COUNTY
      OF
      HARRIS

     

    BEFORE
      ME,
      on
      this 30th day of August, 2007, appeared John R. Hager, to me
      personally known, who, being by me duly sworn did say that he is the Chief
      Financial Officer of PRIME
      NATURAL RESOURCES, INC.,
      a
      Texas corporation, and that said instrument was signed on behalf of said
      corporation by authority of its Board of Directors and such person acknowledged
      said instrument to be the free act and deed of said corporation.

     

    Given
      under my hand and seal of office the day and year last above
      written.

    
      	 	 	/s/
        Sue A. Alford
	 
 	
              
                

              

              Notary
                Public for the State of Texas

               

              

          Printed
            Name: Sue A. Alford

                 

                My
                  commission expires:
5-24-10

              

            

    

    

    
      
        
        

      

      
        
          Signature
            Page

        

        
          

        

      

      
        
        

      

    

    STATE
      OF
      TEXAS

     

    COUNTY
      OF
      HARRIS

     

    BEFORE
      ME,
      on
      this 3st day of August, 2007, appeared John I. Folnovic, to
      me personally known, who, being by me duly sworn did say that he is the
      President and CEO
      of
ICF
      ENERGY CORPORATION,
      a Texas
      corporation, and that said instrument was signed on behalf of said corporation
      by authority of its Board of Directors and such person acknowledged said
      instrument to be the free act and deed of said corporation.

     

    Given
      under my hand and seal of office the day and year last above
      written.

    
      
        	 	 	/s/
                Theresa M.
                Thornton
	 
 	
                
                  

                

                Notary
                  Public for the State of Texas

                 

                
                  Printed
                    Name: Theresa M. Thornton

                   

                  My
                    commission expires:
5/28/08

                

              

      

    

    
      

      
        
          
          

        

        
          
            Signature
              Page

          

          
            

          

        

        
          
          

        

         

      

    

    Exhibit
      A-1

     

    Leasehold
      Interests

     

    
      	
              Oil
                and Gas Leases
                and Minerals

              (all
                recording references are to the Official Records of Brazoria County,
                Texas)

            

    

     

    
      	
              Lessor

            	 	
              Lessee

            	 	
              Lease
                Date

            	 	
              Recording
                Information

            
	
              Eugenia
                T. Whitlock Trust

            	 	
              Roger
                A Soape Inc

            	 	
              03/20/00

            	 	
              00
                018426

            
	
              Cornelia
                H. Decker , et al

            	 	
              Roger
                A Soape Inc

            	 	
              03/20/00

            	 	
              00
                021735

            
	
              Sylvia
                A. Woodruff

            	 	
              Roger
                A Soape Inc

            	 	
              03/02/00

            	 	
              00
                013450

            
	
              Billie
                Glenn Cornman

            	 	
              Roger
                A Soape Inc

            	 	
              03/02/00

            	 	
              00
                015575

            
	
              Vera
                Carmel Brown

            	 	
              Roger
                A Soape Inc

            	 	
              03/02/00

            	 	
              00
                015576

            
	
              Ernest
                E. Freeman, et ux

            	 	
              Roger
                A Soape Inc

            	 	
              03/02/00

            	 	
              00
                015577

            
	
              J.
                H. Rayburn Jr, et al

            	 	
              Roger
                A Soape Inc

            	 	
              02/17/00

            	 	
              00
                013453

            
	
              Mary
                L. Chase

            	 	
              Roger
                A Soape Inc

            	 	
              02/24/00

            	 	
              00
                024490

            
	
              J.
                H. Rayburn, Jr.

            	 	
              Roger
                A Soape Inc

            	 	
              02/17/00

            	 	
              00
                018427

            
	
              Jack
                S. Josey

            	 	
              Roger
                A Soape Inc

            	 	
              07/25/00

            	 	
              00
                044259

            
	
              J.
                Shelby Bryan

            	 	
              Roger
                A Soape Inc

            	 	
              07/28/00

            	 	
              00
                044258

            
	
              Josephine
                S Masterson

            	 	
              Roger
                A Soape Inc

            	 	
              09/18/00

            	 	
              01
                036412

            
	
              Kay
                C. Foster

            	 	
              Roger
                A Soape Inc

            	 	
              02/05/00

            	 	
              00
                013451

            
	
              Marjorie
                Persson, et al

            	 	
              Roger
                A Soape Inc

            	 	
              02/06/00

            	 	
              00
                013452

            
	
              Michael
                M. Martin

            	 	
              Roger
                A Soape Inc

            	 	
              03/17/00

            	 	
              00
                018428

            
	
              William
                Polk Martin

            	 	
              Roger
                A Soape Inc

            	 	
              03/17/00

            	 	
              00
                018429

            
	
              Thomas
                Masterson, III, et al

            	 	
              Roger
                A Soape Inc

            	 	
              07/17/00

            	 	
              00
                033346

            
	
              Peter
                M. Turnbull

            	 	
              Roger
                A Soape Inc

            	 	
              07/11/00

            	 	
              00
                039724

            
	
              Gloria
                C. Wilburn

            	 	
              Roger
                A Soape Inc

            	 	
              08/10/00

            	 	
              00
                039725

            
	
              Lynne
                Fisher Echegaray

            	 	
              Roger
                A Soape Inc

            	 	
              08/15/00

            	 	
              00
                044257

            
	
              Betsy
                Schwarz Vaughan, et al

            	 	
              Roger
                A Soape Inc

            	 	
              08/26/00

            	 	
              00
                046881

            
	
              Compass
                Bank Trustee

            	 	
              Prime
                Natural Resources Inc

            	 	
              12/20/00

            	 	
              01
                037779

            
	
              Mary
                Nell Enlow Boyd

            	 	
              Roger
                A Soape Inc

            	 	
              03/01/03

            	 	
              03
                017685

            
	
              Robert
                M. Davant Jr., et al

            	 	
              Roger
                A Soape Inc

            	 	
              06/23/00

            	 	
              00
                033342

            
	
              Elizabeth
                L. Howe

            	 	
              Roger
                A Soape Inc

            	 	
              07/01/00

            	 	
              00
                033343

            
	
              Amelia
                Ann Sundberg

            	 	
              Roger
                A Soape Inc

            	 	
              07/01/00

            	 	
              00
                033344

            
	
              Valerie
                L. Hundley

            	 	
              Roger
                A Soape Inc

            	 	
              07/01/00

            	 	
              00
                033345

            
	
              Mary
                L. Crecy

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/01/02

            	 	
              02
                025904

            
	
              James
                T. Little

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/03/02

            	 	
              02
                025905

            
	
              Mary
                Lou Eckerdt

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/02/02

            	 	
              02
                025906

            
	
              Betty
                Lou Patterson

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                025907

            
	
              John
                W. Berry Jr

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                025908

            
	
              Robert
                Little

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                025909

            
	
              Lewis
                B. Demille

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                025910

            
	
              Norma
                Lathrop

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                019489

            
	
              James
                F. Lathrop, Jr.

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                019490

            

    

     

    
      
        
        

      

      
        Exhibit
          A-1-1

        
          

        

      

      
        
        

      

    

     

    
      	
              Holy
                Comforter Episcopal

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/05/02

            	 	
              02
                019492

            
	
              Anne
                H Mealey

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                019493

            
	
              Louise
                A. Miller

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                019494

            
	
              George
                Loe

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                029006

            
	
              Laura
                Ruth Haynie

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/04/02

            	 	
              02
                033083

            
	
              Paris
                Eugene Smith

            	 	
              Prime
                Natural Resources Inc

            	 	
              06/03/02

            	 	
              02
                033084

            
	
              Sarah
                Janin Wilson Zerr

            	 	
              Prime
                Natural Resources Inc

            	 	
              06/03/02

            	 	
              02
                039347

            
	
              K.
                Wortham Smith

            	 	
              Prime
                Natural Resources Inc

            	 	
              06/03/02

            	 	
              02
                043286

            
	
              Floyd
                Fiser, Jr.

            	 	
              Prime
                Natural Resources Inc

            	 	
              10/23/02

            	 	
              03
                003092

            
	
              Corinne
                Laurie Brierley

            	 	
              Prime
                Natural Resources Inc

            	 	
              10/23/02

            	 	
              03
                003091

            
	
              Fern
                Fletcher

            	 	
              Prime
                Natural Resources Inc

            	 	
              02/21/03

            	 	
              03
                022644

            
	
              Shirley
                W. Fiser, et al

            	 	
              Prime
                Natural Resources Inc

            	 	
              10/23/02

            	 	
              03
                026623

            
	
              Herman
                Bell, et ux

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/07/02

            	 	
              02
                019491

            
	
              Jimmy
                Phillips, Jr.

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/04/02

            	 	
              02
                019495

            
	
              Michael
                Phillips

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/04/02

            	 	
              02
                019496

            
	
              Arthur
                Ray Clark, Sr., et ux

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/09/02

            	 	
              02
                029005

            
	
              Peggy
                Gupton Boone

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/21/02

            	 	
              02-029001

            
	
              Dolores
                Gupton Rader

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/21/02

            	 	
              02-029002

            
	
              Kirby
                W. Gupton

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/06/02

            	 	
              02
                029003

            
	
              Denise
                Gupton Ingram

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/18/02

            	 	
              02
                029004

            
	
              Earnestine
                Grise Randon

            	 	
              Prime
                Natural Resources Inc

            	 	
              03/09/02

            	 	
              02-029000

            
	
              Devon
                Energy 

              Production
                Co.

            	 	
              Prime
                Natural Resources Inc

            	 	
              04/29/02

            	 	
              02
                049386

            
	
              Anthony
                Alexander, Sr.

            	 	
              Prime
                Natural Resources Inc

            	 	
              04/24/02

            	 	
              02
                031957

            
	
              Josephine
                Masterson

            	 	
              Prime
                Natural Resources Inc

            	 	
              04/23/02

            	 	
              02
                039348

            
	
              Jack
                S. Josey

            	 	
              Prime
                Natural Resources Inc

            	 	
              05/03/02

            	 	
              02
                039349

            
	
              J.
                Shelby Bryan

            	 	
              Prime
                Natural Resources Inc

            	 	
              06/14/02

            	 	
              02
                055294

            
	
              Eugenia
                T. Whitlock Trust

            	 	
              Prime
                Natural Resources Inc

            	 	
              04/22/02

            	 	
              03
                010299

            
	
              Ethel
                F. Graham, Indep. Exec.

            	 	
              Prime
                Natural Resources Inc

            	 	
              11/15/03

            	 	
              03
                078513

            
	
              Devon
                Energy Production Co.

            	 	
              Prime
                Natural Resources Inc

            	 	
              04/02/03

            	 	
              03
                023650

            
	
              Fee
                Mineral Tract

            	 	
              All
                of Prime Natural Resources, Inc. interest in 316.85 acres, more or
                less
                out of the S. F. Austin League No. 48. being the same lands conveyed
                to
                Prime Natural Resources, Inc. by Mineral and Royalty Deed from Roger
                A.
                Soape, Inc. dated July 18, 2003, recorded as Document No. 03 046145
                of the
                Official Records of Brazoria County,
                Texas.

            

    

     

    
      	
              Units

            
	 
	
              O’Leary
                Unit No. 1

            	 	
              662
                acres of land, more or less, out of the Stephen F. Austin League
                No. 48,
                A-26 and the George Harrison Survey, A-73, Brazoria County, Texas,
                described in that certain Designation of Unit (O’Leary Gas Unit) filed
                June 13, 2003, recorded under Clerk’s File No. 03-035767, as amended by
                documents recorded under Clerk’s File Nos. 03-046147 and 2004020014 of the
                Official Records of Brazoria County, Texas.

            
	 	 	 
	
              Devon
                Fee Gas Unit

            	 	
              401.85
                acres, more or less, out of the Stephen F. Austin League No. 48,
                A-26,
                Brazoria County, Texas, being the Devon Fee Gas Unit as described
                in that
                certain designation of Unit dated April 28, 2004, recorded at Entry
                2004024815, in the Official Records of Brazoria County,
                Texas.

            

    

    

    
      
        
        

      

      
        Exhibit
          A-1-2

        
          

        

      

      
        
        

      

    

    Exhibit
      A-2

     

    Wells

     

    
      	
              Well

            	 	
              API
                Well No.

            	 	
              Working
                Interest

            	 	
              Net
                Revenue Interest

            	 
	
              O’Leary
                Unit No. 1

            	 	 	
              42-039-32803

            	 	 	
              40.6700%

            	
               

            	 	
              29.0120%

            	
            
	 	 	 	 	 	 	 	 	 	 	 
	
              Devon
                Fee No. 1

            	 	 	
              42-039-32823

            	 	 	
              75.0000%

            	
               

            	 	
              60.4500%*

            	 
	 	 	 	 	 	 	 	 	 	
              Includes
                fee minerals

            	 

    

    

    
      
        
        

      

      
        Exhibit
          A-2-1

        
          

        

      

      
        
        

      

    

    Exhibit
      A-3

     

    Contracts

     

    DEVON
      FEE NO. 1

    

    

    
      	 	
              1.

            	
              Gas
                Transportation Agreement
                dated August 1, 2007, between Sweeny Gathering, L.P.. and Prime Natural
                Resources, Inc.

            

    

    

    
      	 	
              2.

            	
              Participation
                Agreement
                dated October 1, 2003 between Burk Davis Gulf Coast and Prime Natural
                Resources, Inc.

            

    

    

    
      	 	
              3.

            	
              Joint
                Operating Agreement
                dated October 1, 2003 between Davis Gulf Coast and Prime Natural
                Resources, Inc.

            

    

    

    
      	 	
              4.

            	
              Crude
                 Oil Sales Contract dated
                May 24, 2004 between Cokinos Oil Company and Prime Natural Resources,
                Inc.

            

    

    

    
      	 	
              5.

            	
              Gas
                Sales Contract
                dated May 24, 2004 between Prime Natural Resources, Inc. and Cokinos
                Oil
                Company

            

    

    

    O’LEARY
      GAS UNIT

    

    
      	 	
              1.

            	
              Crude
                Oil Sales Contract dated
                June 25, 2007 between Cokinos Oil Company and Prime Natural Resources,
                Inc.

            

    

    

    
      	 	
              2.

            	
              Joint
                Operating Agreement
                dated February 14, 2003 between Davis Gulf Coast and Prime Natural
                Resources, Inc.

            

    

    

    
      	 	
              3.

            	
              Letter
                Agreement
                dated May 2, 2003 between Davis Gulf Coast and Prime Natural Resources,
                Inc.

            

    

    

    
      	 	
              4.

            	
              Letter
                Agreement
                dated March 13, 2003 between Davis Gulf Coast and Prime Natural Resources,
                Inc.

            

    

    

    
      	 	
              5.

            	
              Letter
                of Intent
                dated February 10, 2003 between Davis Gulf Coast and Prime Natural
                Resources, Inc. 

            

    

    

    
      	 	
              6.

            	
              Sales
                Letter
                dated May 1, 2003 between Hilcorp and Prime Natural Resources, Inc.
                

            

    

    

    PROSPECTS
      

    

    
      	 	
              7.

            	
              Letter
                Agreement
                dated May 1, 2003 between Hilcorp and Prime Natural Resources, Inc.
                

            

    

    

    
      
        
        

      

      
        Exhibit
          A-3-1

        
          

        

      

      
        
        

      

    

    

    EXPLORATION
      OPPORTUNITIES IN THE OLD OCEAN FIELD

     

    
      	
              The
                following interests are described by and reserved in that certain
                Assignment, Conveyance and Bill of Sale, dated effective March 1,
                2003
                between Prime Natural Resources, Inc., as Assignor, and Hilcorp Energy
                I,
                L. P., as Assignee, filed for record and recorded May 13, 2003 in
                the
                Official Records of Brazoria County, Texas and filed for record on
                June
                12, 2003 in the Official Records of Matagorda County, Texas,
                

            
	
            

    

     

    
      	
              South
                Sweeny Prospect

            	 	
              The
                interests described in Exhibit A-4 of the above described Assignment.
                This
                interest is limited to the depths below the F-21 Sand and Prime Natural
                Resources, Inc. is obligated to P & A the Old Ocean Unit 238 well.
                

            

    

    

    
      	
              Old
                Ocean Unit 240 Prospect Offset

            	 	
              The
                interests described in Exhibit A-6 of the above described
                Assignment

            

    

    

    
      	
              Old
                Ocean Unit 235 Prospect (F-24 Sand)

            	 	
              The
                interests described in Exhibit A-7-I of the above described
                Assignment

            

    

    

    
      
        
        

      

      
        
          Exhibit
            A-3-2Exhibit
      10.9

     

    COLLATERAL
      ASSIGNMENT

     

    COLLATERAL
      ASSIGNMENT made as of this 18th day of September 2007 (“Collateral
      Assignment”)
      by
      True North Energy Corporation, a Nevada corporation (“TNEC”)
      and
      ICF Energy Corporation, a Texas corporation (“ICF”,
      and
      together with TNEC, the “Assignors”
and
      each an “Assignor”),
      to
      Valens U.S. SPV I, LLC (“Assignee”),
      as
      agent for Purchasers (as defined in the Purchase Agreement (as defined
      below)).

     

    FOR
      VALUE
      RECEIVED, and as collateral security for all debts, liabilities and obligations
      of each Assignor to Assignee and the Purchasers, now existing or hereafter
      arising under that certain Securities Purchase Agreement dated as of September
      18, 2007 (as amended, modified, restated or supplemented from time to time,
      the
“Purchase
      Agreement”)
      among
      the Assignors, Purchasers and Assignee, as agent for Purchasers, and the Related
      Agreements (as defined in the Purchase Agreement), each Assignor hereby assigns,
      transfers and sets over unto Assignee, for the ratable benefit of Assignee
      and
      the other Purchasers, its successors and assigns, all of its rights, but not
      its
      obligations, under that certain (i) Purchase and Sale Agreement
      effective as of July 1, 2007 between Prime Natural Resources, Inc.
      (“Seller”)
      and
      ICF with a limited appearance by TNEC and (ii) all of the agreements and
      documents by which assets or rights of the Seller are transferred to either
      or
      both Assignors (as each may be amended, modified, restated or supplemented
      from
      time to time, collectively, the “Acquisition
      Agreement”),
      including, without limitation, all indemnity rights and all moneys and claims
      for moneys due and/or to become due to Assignors under the Acquisition Agreement
      and all documents entered into in connection therewith (the “Agreements”).

     

    Each
      Assignor hereby (a) specifically authorizes and directs Seller, upon notice
      to
      Seller by Assignee, to make all payments due to either or both Assignors under
      or arising under the Agreements directly to Assignee for the ratable benefit
      of
      Assignee and the other Purchasers and (b) irrevocably authorizes and empowers
      Assignee (i) to ask, demand, receive, receipt and give acquittance for any
      and
      all amounts which may be or become due or payable, or remain unpaid at any
      time
      and times to either or both Assignors by Seller under and pursuant to the
      Agreements, (ii) to endorse any checks, drafts or other orders for the payment
      of money payable to either or both Assignors in payment thereof, and (iii)
      in
      Assignee’s discretion to file any claims or take any action or institute any
      proceeding, either in its own name or in the name of either or both Assignors
      or
      otherwise, which Assignee may deem necessary or advisable to effectuate the
      foregoing. It is expressly understood and agreed, however, that Assignee shall
      not be required or obligated in any manner to make any demand or to make any
      inquiry as to the nature or sufficiency of any payment received by it, or to
      present or file any claim or take any other action to collect or enforce the
      payment of any amounts which may have been assigned to Assignee or to which
      Assignee may be entitled hereunder at any time or times.

     

    Seller
      is
      hereby authorized to recognize Assignee’s claims to rights hereunder without
      investigating any reason for any action taken by Assignee or the validity or
      the
      amount of the obligations or existence of any default, or the application to
      be
      made by Assignee of any of the amounts to be paid to Assignee and Seller is
      hereby expressly released by Assignors from any and all liabilities arising
      under or resulting from Seller’s performance of its authorizations given by
      Assignors hereunder. Checks for all or any part of the sums payable under this
      Collateral Assignment shall be drawn to the sole and exclusive order of
      Assignee. Upon (i) payment by Seller to Assignee of any amounts due to either
      or
      both Assignors under or arising under the Agreements, (ii) the termination
      of
      the Agreements; or (iii) the expiration or the performance by Seller of its
      obligations under the Agreements, the obligations of Seller to either or both
      Assignors, and Assignee pursuant to this Collateral Assignment with respect
      to
      such amounts shall be deemed paid in full.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Without
      first obtaining the written consent of Assignee, each Assignor and/or Seller
      shall not amend or modify the Acquisition Agreement.

     

    In
      the
      event either or both Assignors decline to exercise any rights under the
      Agreements, Assignee shall have the right to enforce any and all such rights
      of
      such Assignor(s) directly against Seller. A facsimile signature shall be treated
      as an original signature. 

     

    If
      all
      Obligations, as such term is defined in the Master Security Agreement dated
      the
      18th day of September 2007, between the Assignors and Assignee, as agent for
      itself and the other Purchasers, are paid, performed or otherwise extinguished,
      then and in that case only, this Collateral Assignment shall have no force
      and
      effect and all rights under the Agreements assigned hereby shall be reassigned
      by Assignee to the Assignors with an acknowledgement that Seller has no further
      obligation to Assignee hereunder or thereunder and the Assignors shall promptly
      thereafter provide Seller a written notification of such
      acknowledgement.

     

    This
      Collateral Assignment shall be governed by and interpreted in accordance with
      the laws of the State of Texas, without regard to its conflict of laws
      principles.

     

    This
      Collateral Assignment may be executed in one or more counterparts, each of
      which
      shall be deemed an original, but all of which together shall constitute one
      and
      the same instrument.

     

    [Signature
      Page Follows]

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, each Assignor has duly executed this Collateral Assignment
      as
      of the day and year first above written.

     

    
      	 	 	 
	 	TRUE NORTH ENERGY
              CORPORATION
	 
 	 
 	 
 
	
            	By:  	/s/ John
              I.
              Folnovic
	 	
              
Name: John
              I. Folnovic
	 	Title: President
              and CEO

    

     

    
      	
            	 	 
	 	ICF ENERGY
              CORPORATION
	 
 	 
 	 
 
	
            	By:  	 /s/ John I. Folnovic
	 	
              
Name: John
              I. Folnovic
	 	Title: President
              and CEO

    

     

    
      	
            	 	 
	 	VALENS U.S. SPV I, LLC,
              as Agent
	 	 
	 	By: 	
              Valens Capital Management, LLC, as

              investment manager

            
	 
 	 
 	 
 
	
            	By:  	 /s/
              Eugene Grin
	 	
              
Name:
              Eugene Grin
	 	Title: Authorized
              Signatory

    

     

    Seller
      hereby consents and

    agrees
      to
      the provisions of this

    Collateral
      Assignment as of this 

    18th
      day of
      September, 2007.

     

    PRIME
      NATURAL RESOURCES, INC.

     

    
      	 	 	 	 
	By:
              /s/
              John R. Hager	 	 	 
	
              
                

              

              Name:
                John R. Hager

              
                Title:
                  CFO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]