Document:

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                                                                    EXHIBIT 4.7

THE SECURITIES REPRESENTED BY THESE WARRANTS AND THE COMMON STOCK ISSUABLE
THEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT"), OR ANY OTHER APPLICABLE SECURITIES LAW. THE SECURITIES
REPRESENTED BY THESE WARRANTS MAY NOT BE TRANSFERRED, EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER, OR IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER, THE SECURITIES ACT AND IN ACCORDANCE WITH ANY OTHER
APPLICABLE SECURITIES LAWS.

                                    WARRANTS

                           to Purchase Common Stock of

                      Continental Southern Resources, Inc.
                        F/KA/ EXPRESSIONS GRAPHICS, INC.

                            EXPIRING ON JULY 23, 2008

Warrant No. 2003-3

         This Common Stock Purchase Warrant (the "Warrant") certifies that for
value received, Trident Growth Fund, L.P. f/k/a Gemini Capital, L.P. (the
"Holder") or its assigns, is entitled to subscribe for and purchase from the
Company (as hereinafter defined), in whole or in part, 150,000 shares of duly
authorized, validly issued, fully paid and nonassessable shares of Common Stock
(as hereinafter defined) at an initial Exercise Price (as hereinafter defined)
per share of $1.60, subject, however, to the provisions and upon the terms and
conditions hereinafter set forth. The number of Warrants (as hereinafter
defined), the number of shares of Common Stock purchasable hereunder, and the
Exercise Price therefore are subject to adjustment as hereinafter set forth.
These Warrants and all rights hereunder shall expire at 5:00 p.m., Houston,
Texas time, July 23, 2008 (the "Expiration Date").

                                   ARTICLE I

                                   Definitions

         As used herein, the following terms shall have the meanings set forth
below:

         I.1 "Company" shall mean Continental Southern Resources, Inc., a Nevada
corporation, and shall also include any successor thereto with respect to the
obligations hereunder, by merger, consolidation or otherwise.

         I.2 "Common Stock" shall mean and include the Company's common stock,
$0.001 par value per share, authorized on the date of the original issue of
these Warrants and shall also include (i) in case of any reorganization,
reclassification, consolidation, merger, share exchange or sale, transfer or
other disposition of assets, the stock or other securities provided for herein,
and (ii) any

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other shares of common stock of the Company into which such shares of Common
Stock may be converted.

         I.3 "Exercise Price" shall mean the initial purchase price of $1.60 per
share of Common Stock payable upon exercise of the Warrants, as adjusted from
time to time pursuant to the provisions hereof.

         I.4 "Market Price" for any day, when used with reference to Common
Stock, shall mean the price of said Common Stock determined by reference to the
last reported sale price for the Common Stock on such day on the principal
securities exchange on which the Common Stock is listed or admitted to trading
or if no such sale takes place on such date, the average of the closing bid and
asked prices thereof as officially reported, or, if not so listed or admitted to
trading on any securities exchange, the last sale price for the Common Stock on
the National Association of Securities Dealers national market system on such
date, or, if there shall have been no trading on such date or if the Common
Stock shall not be listed on such system, the average of the closing bid and
asked prices in the over-the-counter market as furnished by any NASD member firm
selected from time to time by the Company for such purpose or, if the Common
Stock is not traded, then such price as is reasonably determined by the
Company's Board of Directors.

         I.5 "Warrant" shall mean the right upon exercise to purchase one
Warrant Share.

         I.6 "Warrant Shares" shall mean the shares of Common Stock purchased or
purchasable by the holder hereof upon the exercise of the Warrants.

                                   ARTICLE II

                              Exercise of Warrants

         II.1 Method of Exercise. The Warrants represented hereby may be
exercised by the holder hereof, in whole or in part, at any time and from time
to time on or after the date hereof until 5:00 p.m., Houston, Texas time, on the
Expiration Date. To exercise the Warrants, the holder hereof shall deliver to
the Company, at the Warrant Office designated herein, (i) a written notice in
the form of the Subscription Notice attached as an exhibit hereto, stating
therein the election of such holder to exercise the Warrants in the manner
provided in the Subscription Notice; (ii) payment in full of the Exercise Price
(A) in cash or by bank check for all Warrant Shares purchased hereunder, or (B)
through a "cashless" or "net-issue" exercise of each such Warrant ("Cashless
Exercise"); the holder shall exchange each Warrant subject to a Cashless
Exercise for that number of Warrant Shares determined by multiplying the number
of Warrant Shares issuable hereunder by a fraction, the numerator of which shall
be the difference between (x) the Market Price and (y) the Exercise Price for
each such Warrant, and the denominator of which shall be the Market Price; the
Subscription Notice shall set forth the calculation upon which the Cashless
Exercise is based, or (C) a combination of (A) and (B) above; and (iii) these
Warrants. The Warrants shall be deemed to be exercised on the date of receipt by
the Company of the Subscription Notice, accompanied by payment for the Warrant
Shares and surrender of these Warrants, as aforesaid, and such date is referred
to herein as the "Exercise Date". Upon such exercise, the Company shall, as
promptly as practicable and in any event within five business days, issue and
deliver to such holder a certificate

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or certificates for the full number of the Warrant Shares purchased by such
holder hereunder, and shall, unless the Warrants have expired, deliver to the
holder hereof a new Warrant representing the number of Warrants, if any, that
shall not have been exercised, in all other respects identical to these
Warrants. As permitted by applicable law, the person in whose name the
certificates for Common Stock are to be issued shall be deemed to have become a
holder of record of such Common Stock on the Exercise Date and shall be entitled
to all of the benefits of such holder on the Exercise Date, including without
limitation the right to receive dividends and other distributions for which the
record date falls on or after the Exercise Date and to exercise voting rights.

         II.2 Expenses and Taxes. The Company shall pay all expenses and taxes
(including, without limitation, all documentary, stamp, transfer or other
transactional taxes) other than income taxes attributable to the preparation,
issuance or delivery of the Warrants and of the shares of Common Stock issuable
upon exercise of the Warrants.

         II.3 Reservation of Shares. The Company shall reserve at all times so
long as the Warrants remain outstanding, free from preemptive rights, out of its
authorized but unissued shares of Common Stock, solely for the purpose of
effecting the exercise of the Warrants, a sufficient number of shares of Common
Stock to provide for the exercise of the Warrants.

         II.4 Valid Issuance. All shares of Common Stock that may be issued upon
exercise of the Warrants will, upon issuance by the Company, be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens and charges
with respect to the issuance thereof and, without limiting the generality of the
foregoing, the Company shall take no action or fail to take any action which
will cause a contrary result (including, without limitation, any action that
would cause the Exercise Price to be less than the par value, if any, of the
Common Stock).

         II.5 Loan Agreement. The Warrants represented hereby were issued on
conjunction with a Loan Agreement dated around April 5, 2002 as amended from
time to time (the "Loan Agreement") between the Company and the Holder. The
Holder shall be entitled to the rights to registration under the Securities Act
and any applicable state securities or blue sky laws to the extent set forth in
the registration rights provision found in the Loan Agreement. The terms of the
registration rights provisions are hereby incorporated herein for all purposes
and shall be considered a part of this Warrant as if they had been fully set
forth herein.

         II.6 Acknowledgment of Rights. At the time of the exercise of the
Warrants in accordance with the terms hereof and upon the written request of the
holder hereof, the Company will acknowledge in writing its continuing obligation
to afford to such holder any rights (including, without limitation, any right to
registration of the Warrant Shares) to which such holder shall continue to be
entitled after such exercise in accordance with the provisions of these
Warrants; provided, however, that if the Holder hereof shall fail to make any
such request, such failure shall not affect the continuing obligation of the
Company to afford to such Holder any such rights.

         II.7 No Fractional Shares. The Company shall not be required to issue
fractional shares of Common Stock on the exercise of these Warrants. If more
than one Warrant shall be presented for exercise at the same time by the same
holder, the number of full shares of Common Stock which shall be issuable upon
such exercise shall be computed on the basis of the aggregate number of

                                       3

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whole shares of Common Stock purchasable on exercise of the Warrants so
presented. If any fraction of a share of Common Stock would, except for the
provisions of this Section, be issuable on the exercise of this Warrant, the
Company shall pay an amount in cash calculated by it to be equal to the Market
Price of one share of Common Stock at the time of such exercise multiplied by
such fraction computed to the nearest whole cent.

                                  ARTICLE III

                                    Transfer

         III.1 Warrant Office. The Company shall maintain an office for certain
purposes specified herein (the "Warrant Office"), which office shall initially
be the Company's offices at 111 Presidential Boulevard, Suite 158-A, Bala
Cynwyd, PA 19004 and may subsequently be such other office of the Company or of
any transfer agent of the Common Stock in the continental United States as to
which written notice has previously been given to the Holder. The Company shall
maintain, at the Warrant Office, a register for the Warrants in which the
Company shall record the name and address of the Person in whose name these
Warrants has been issued, as well as the name and address of each permitted
assignee of the rights of the registered owner hereof.

         III.2 Ownership of Warrants. The Company may deem and treat the Person
in whose name the Warrants are registered as the holder and owner hereof until
provided with notice to the contrary. The Warrants may be exercised by an
assignee for the purchase of Warrant Shares without having new Warrants issued.

         III.3 Restrictions on Transfer of Warrants. These Warrants may be
transferred, in whole or in part, by the Holder. The Company agrees to maintain
at the Warrant Office books for the registration and transfer of the Warrants.
The Company, from time to time, shall register the transfer of the Warrants in
such books upon surrender of this Warrant at the Warrant Office properly
endorsed or accompanied by appropriate instruments of transfer and written
instructions for transfer. Upon any such transfer and upon payment by the holder
or its transferee of any applicable transfer taxes, new Warrants shall be issued
to the transferee and the transferor (as their respective interests may appear)
and the surrendered Warrants shall be cancelled by the Company. The Company
shall pay all taxes (other than securities transfer taxes or income taxes) and
all other expenses and charges payable in connection with the transfer of the
Warrants pursuant to this Section.

         III.4 Compliance with Securities Laws. Subject to the terms of the
Registration Rights Agreement and notwithstanding any other provisions contained
in these Warrants, the Holder understands and agrees that the following
restrictions and limitations shall be applicable to all Warrant Shares and to
all resales or other transfers thereof pursuant to the Securities Act:

              III.4.1 The holder hereof agrees that the Warrant Shares may not
be sold or otherwise transferred unless the Warrant Shares are registered under
the Securities Act and applicable state securities or blue sky laws or are
exempt therefrom.

              III.4.2 A legend in substantially the following form will be
placed on the certificate(s) evidencing the Warrant Shares:

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                  "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
         "SECURITIES ACT"), OR ANY OTHER APPLICABLE SECURITIES LAW AND,
         ACCORDINGLY, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE
         RESOLD, PLEDGED, OR OTHERWISE TRANSFERRED, EXCEPT PURSUANT TO AN
         EFFECTIVE REGISTRATION STATEMENT UNDER, OR IN A TRANSACTION EXEMPT FROM
         REGISTRATION UNDER, THE SECURITIES ACT AND IN ACCORDANCE WITH ANY OTHER
         APPLICABLE SECURITIES LAWS."

                                   ARTICLE IV

                                  Anti-Dilution

         IV.1 If and whenever any Additional Common Stock (as herein defined)
shares shall be issued by the Company (the "Stock Issue Date") for a
consideration per share less than the Exercise Price, then in each such case the
initial Exercise Price shall be reduced to a new Exercise Price in an amount
equal to the consideration per share received by the Company for the additional
shares of Common Stock then issued and the number of shares issuable to Holder
upon conversion shall be proportionately increased; and, in the case of shares
issued without consideration, the initial Exercise Price shall be reduced in
amount and the number of shares issued upon conversion shall be increased in an
amount so as to maintain for the Holder the right to exercise into shares equal
in amount to the same percentage interest in the Common Stock of the Company as
existed for the Holder immediately preceding the Stock Issue Date.

         IV.2 Sale of Shares: In case of the issuance of Additional Common Stock
for a consideration part or all of which shall be cash, the amount of the cash
consideration therefore shall be deemed to be the amount of the cash received by
Company for such shares, after any compensation or discount in the sale,
underwriting or purchase thereof by underwriters or dealers or others performing
similar services or for any expenses incurred in connection therewith. In case
of the issuance of any shares of Additional Common Stock for a consideration
part or all of which shall be other than cash, the amount of the consideration
therefore, other than cash, shall be deemed to be the then fair market value of
the property received as determined by an investment banking firm selected by
Lender.

         IV.3 Reclassification of Shares: In case of the reclassification of
securities into shares of Common Stock, the shares of Common Stock issued in
such reclassification shall be deemed to have been issued for a consideration
other than cash. Shares of Additional Common Stock issued by way of dividend or
other distribution on any class of stock of the Company shall be deemed to have
been issued without consideration.

         IV.4 Split up or Combination of Shares: In case issued and outstanding
shares of Common Stock shall be subdivided or split up into a greater number of
shares of the Common Stock, the Exercise Price shall be proportionately
decreased, and in case issued and outstanding shares of Common Stock shall be
combined into a smaller number of shares of Common Stock, the Exercise

                                       5

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Price shall be proportionately increased, such increase or decrease, as the case
may be, becoming effective at the time of record of the split-up or combination,
as the case may be.

         IV.5 Exceptions: The term "Additional Common Stock" herein shall mean
in the most broadest sense all shares of Common Stock hereafter issued by the
Company (including, but not limited to Common Stock held in the treasury of the
Company and common stock purchasable via derivative security or option on the
date of such grant), except Common Stock issued upon the exercise of this
warrant or the Convertible Notes.

         IV.6 In the event of distribution to all Common Stock holders of any
stock, indebtedness of the Company or assets or other rights to purchase
securities or assets, then, after such event, the Exercise Price reduced to so
as to entitle the Holder to the economic interest he had immediately prior to
the occurrence of such event.

         IV.7 In case of any capital reorganization, reclassification of the
stock of the Company (other than a change in par value or as a result of a stock
dividend, subdivision, split up or combination of shares), the Exercise Price
reduced to so as to entitle the Holder to the economic interest he had
immediately prior to the occurrence of such event. The provisions of these
foregoing sentence shall similarly apply to successive reorganizations,
reclassifications, consolidations, exchanges, leases, transfers or other
dispositions or other share exchanges.

         IV.8 Notice of Adjustment. (A) In the event the Company shall propose
to take any action which shall result in an adjustment in the Exercise Price,
the Company shall give notice to the Holder, which notice shall specify the
record date, if any, with respect to such action and the date on which such
action is to take place. Such notice shall be given on or before the earlier of
10 days before the record date or the date which such action shall be taken.
Such notice shall also set forth all facts (to the extent known) material to the
effect of such action on the Exercise Price and the number, kind or class of
shares or other securities or property which shall be deliverable or purchasable
upon the occurrence of such action or deliverable upon exercise of this warrant
(B) Following completion of an event wherein the Exercise Price shall be
adjusted, the Company shall furnish to the Holder a statement, signed by an
authorized officer of the Company of the facts creating such adjustment and
specifying the resultant adjusted Exercise Price then in effect.

                                   ARTICLE V

                                  Miscellaneous

         V.1 Entire Agreement. These Warrants, together with the Loan Agreement,
contain the entire agreement between the holder hereof and the Company with
respect to the Warrant Shares purchasable upon exercise hereof and the related
transactions and supersedes all prior arrangements or understandings with
respect thereto.

         V.2 Governing Law. This warrant shall be governed by and construed in
accordance with the laws of the State of Texas in the courts located in Dallas,
Texas.

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         V.3 Waiver and Amendment. Any term or provision of these Warrants may
be waived at any time by the party which is entitled to the benefits thereof and
any term or provision of these Warrants may be amended or supplemented at any
time by agreement of the holder hereof and the Company, except that any waiver
of any term or condition, or any amendment or supplementation, of these Warrants
shall be in writing. A waiver of any breach or failure to enforce any of the
terms or conditions of these Warrants shall not in any way effect, limit or
waive a party's rights hereunder at any time to enforce strict compliance
thereafter with every term or condition of these Warrants.

         V.4 Illegality. In the event that any one or more of the provisions
contained in this Warrant shall be determined to be invalid, illegal or
unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision in any other respect and the remaining
provisions of these Warrants shall not, at the election of the party for whom
the benefit of the provision exists, be in any way impaired.

         V.5 Copy of Warrant. A copy of these Warrants shall be filed among the
records of the Company.

         V.6 Notice. Any notice or other document required or permitted to be
given or delivered to the holder hereof shall be in writing and delivered at, or
sent by certified or registered mail to such holder at, the last address shown
on the books of the Company maintained at the Warrant Office for the
registration of these Warrants or at any more recent address of which the holder
hereof shall have notified the Company in writing.

         V.7 Limitation of Liability; Not Stockholders. No provision of these
Warrants shall be construed as conferring upon the holder hereof the right to
vote, consent, receive dividends or receive notices (other than as herein
expressly provided) in respect of meetings of stockholders for the election of
directors of the Company or any other matter whatsoever as a stockholder of the
Company. No provision hereof, in the absence of affirmative action by the holder
hereof to purchase shares of Common Stock, and no mere enumeration herein of the
rights or privileges of the holder hereof, shall give rise to any liability of
such holder for the purchase price of any shares of Common Stock or as a
stockholder of the Company, whether such liability is asserted by the Company or
by creditors of the Company.

         V.8 Exchange, Loss, Destruction, etc. of Warrant. Upon receipt of
evidence reasonably satisfactory to the Company of the loss, theft, mutilation
or destruction of these Warrants, and in the case of any such loss, theft or
destruction upon delivery of an appropriate affidavit in such form as shall be
reasonably satisfactory to the Company and include reasonable indemnification of
the Company, or in the event of such mutilation upon surrender and cancellation
of these Warrants, the Company will make and deliver new Warrants of like tenor,
in lieu of such lost, stolen, destroyed or mutilated Warrants. Any Warrants
issued under the provisions of this Section in lieu of any Warrants alleged to
be lost, destroyed or stolen, or in lieu of any mutilated Warrants, shall
constitute an original contractual obligation on the part of the Company. These
Warrants shall be promptly canceled by the Company upon the surrender hereof in
connection with any exchange or replacement. The Company shall pay all taxes
(other than securities transfer taxes or income taxes) and all other expenses
and charges payable in connection with the preparation, execution and delivery
of Warrants pursuant to this Section.

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         V.9 Headings. The Article and Section and other headings herein are for
convenience only and are not a part of this Warrant and shall not affect the
interpretation thereof.

         IN WITNESS WHEREOF, the Company has caused this Warrant to be signed in
its name dated July 29, 2003

                                         Continental Southern Resources, Inc.

                                         /s/ STEPHEN P. HARRINGTON
                                         --------------------------------------
                                         Stephen Harrington
                                         Title: President

                                         Witness

                                       8

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                               SUBSCRIPTION NOTICE

         The undersigned, the holder of the foregoing Warrants, hereby elects to
exercise purchase rights represented thereby for, and to purchase thereunder,
shares of the Common Stock covered by such Warrants, and herewith makes payment
in full for such shares, and requests (a) that certificates for such shares (and
any other securities or other property issuable upon such exercise) be issued in
the name of, and delivered to, and (b), if such shares shall not include all of
the shares issuable as provided in such Warrants, that new Warrants of like
tenor and date for the balance of the shares issuable thereunder be delivered to
the undersigned.

Date:
     -------------------------------

                                       9

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                                   ASSIGNMENT

         For value received, , hereby sells, assigns and transfers unto these
Warrants, together with all rights, title and interest therein, and does
irrevocably constitute and appoint attorney, to transfer such Warrants on the
books of the Company, with full power of substitution.

Date:
     -------------------------------

                                       10

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                               FIRST AMENDMENT TO

                                    WARRANTS

                           to Purchase Common Stock of
                      Continental Southern Resources, Inc.
                        f/k/a Expressions Graphics, Inc.

                           Expiring on April 30, 2012

Warrant No. 2003-3

To memorialize the prior agreements of the parties, this warrant is hereby
amended as follows:

1.       The introductory paragraph is hereby deleted in its entirety and
replaced with the following:

"This Common Stock Purchase Warrant (the "Warrant") certifies that for value
received, Trident Growth Fund, LP f/k/a Gemini Capital, L.P. (the "Holder") or
its assigns, is entitled to subscribe for and purchase from the Company (as
hereinafter defined), in whole or in part, 150,000 shares of duly authorized,
validly issued, fully paid and nonassessable shares of Common Stock (as
hereinafter defined) at an initial Exercise Price (as hereinafter defined) per
share of $2.00, subject, however, to the provisions and upon the terms and
conditions hereinafter set forth. The number of Warrants (as hereinafter
defined), the number of shares of Common Stock purchasable hereunder, and the
Exercise Price therefore are subject to adjustment as hereinafter set forth.
These Warrants and all rights hereunder shall expire at 5:00 p.m., Houston,
Texas time, April 30, 2012."

2.       Section IV.5 is hereby deleted in its entirety and replaced with the
following:

"Exceptions: The term "Additional Common Stock" herein shall mean in the most
broadest sense all shares of Common Stock hereafter issued by the Company
(including, but not limited to, Common Stock held in the treasury of the Company
and Common Stock purchasable via derivative security or option on the date of
such grant), except (i) Common Stock issued upon the exercise of this warrant or
any other warrants issued to Holder, (ii) Common Stock issued upon the
conversion of the Convertible Notes, (iii) Common Stock issuable or issued to
employees, consultants or directors of the Company or its consolidated
subsidiaries or other consolidated entities directly or pursuant to a stock
option plan, restricted stock plan or other incentive plan approved by the Board
of Directors of the Company, (iv) Common Stock issued or issuable in connection
with a bona fide business acquisition of or by the Company or its consolidated
subsidiaries or other consolidated entities approved by the Board of Directors,
whether by merger, consolidation, sale of assets, sale or exchange of stock or
otherwise, including Common Stock issued in connection with the Company's
proposed acquisition of NSNV, Inc., a Texas corporation ("NSNV"), and Common
Stock issued in connection with the payment of an advisory fee payable upon the
successful completion of the acquisition of NSNV."

All other provisions not modified herein are in full force and effect.

                                       11

<PAGE>

For good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Holder and the Company have executed this Amendment by its
duly authorized signatories, this 26th day of February, 2004.

                                          Continental Southern Resources, Inc.

                                          /s/ STEPHEN P. HARRINGTON
                                          -------------------------------------
                                          Stephen P. Harrington
                                          Title: President

                                          Trident Growth Fund, L.P.
                                          By:  Trident Management, LLC,
                                               its general partner

                                          /s/ SCOTT COOK
                                          -------------------------------------
                                          Name: Scott Cook
                                          Title: General Partner

                                       12<PAGE>

                                                                     EXHIBIT 4.8

THE SECURITIES REPRESENTED BY THESE WARRANTS AND THE COMMON STOCK ISSUABLE
THEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT"), OR ANY OTHER APPLICABLE SECURITIES LAW. THE SECURITIES
REPRESENTED BY THESE WARRANTS MAY NOT BE TRANSFERRED, EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER, OR IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER, THE SECURITIES ACT AND IN ACCORDANCE WITH ANY OTHER
APPLICABLE SECURITIES LAWS.

                                    WARRANTS

                           TO PURCHASE COMMON STOCK OF

                      CONTINENTAL SOUTHERN RESOURCES, INC.
                            (A COLORADO CORPORATION)

                           EXPIRING ON APRIL 30, 2012

Warrant No. 2003-1

         This Common Stock Purchase Warrant (the "Warrant") certifies that for
value received, Trident Growth Fund, L.P. (the "Holder") or its assigns, is
entitled to subscribe for and purchase from the Company (as hereinafter
defined), in whole or in part, 25,000 shares of duly authorized, validly issued,
fully paid and nonassessable shares of Common Stock (as hereinafter defined) at
an initial Exercise Price (as hereinafter defined) of $1.60 per share, subject,
however, to the provisions and upon the terms and conditions hereinafter set
forth. The number of Warrants (as hereinafter defined), the number of shares of
Common stock purchasable hereunder, and the Exercise Price therefore are
subject to adjustment as hereinafter set forth. These Warrants and all rights
hereunder shall expire on the earlier of (i) 5:00 p.m., Houston, Texas time,
April 30, 2012 or (ii) the date all of the Convertible Notes issued pursuant to
a certain Loan Agreement dated April 30, 2002 are converted to Common Stock (the
"Expiration Date").

                                   ARTICLE 1

                                  Definitions

         As used herein, the following terms shall have the meanings set forth
below:

         1.1      "Company" shall mean Continental Southern Resources, Inc., a
Colorado corporation, and shall also include any successor thereto with respect
to the obligations hereunder, by merger, consolidation or otherwise.

         1.2      "Common Stock" shall mean and include the Company's common
stock, $0.001 par value per share, authorized on the date of the original issue
of these Warrants and shall

<PAGE>

include (i) in case of any reorganization, reclassification, consolidation,
merger, share exchange or sale, transfer or other disposition of assets, the
stock or other securities provided for herein, and (ii) any other shares of
common stock of the Company to which such shares of Common Stock may be
converted.

         1.3      "Exercise Price" shall mean the initial exercise price of
$1.60, as adjusted from time to time pursuant to the provisions hereof.

         1.4      "Market Price" for any day, when used with reference to Common
Stock, shall mean the price of said Common Stock determined by reference to the
last reported sale price for the Common Stock on such day on the principal
securities exchange on which the Common Stock is listed or admitted to trading
or if no such sale take place on such date, the average of the closing bid and
asked prices thereof as officially reported, or, if not so listed or admitted to
trading on any securities exchange, the last sale price for the Common Stock on
the National Association of Securities Dealers national market system on such
date, or, if there shall have been no trading on such date or if the Commons
Stock shall not be listed on such systems, the average of the closing bid and
asked prices in the over-the-counter market as furnished by any NASD member firm
selected from time to time by the Company for such purpose or, if the Common
Stock is not traded, then such price as is reasonably determined by the
Company's Board of Directors.

         1.5      "Warrant" shall mean the right upon exercise to purchase one
Warrant Share.

         1.6      "Warrant Shares" shall mean the shares of Common Stock
purchased or purchasable hereof upon exercise of the Warrants.

                                   ARTICLE II

                              Exercise of Warrants

         2.1      Method of Exercise. The Warrants represented hereby may be
exercised by the holder hereof, in whole or in part, at any time and from time
to time on or after the date hereof until 5:00 p.m., Houston, Texas time on the
Expiration Date. To exercise the Warrants, the holder hereof shall deliver to
the Company, at the Warrant Office designated herein, (i) a written notice in
the form of the Subscription Notice attached as an exhibit hereto, stating
therein the election of such holder to exercise the Warrants in the manner
provided in the Subscription Notice; (ii) payment in full of the Exercise Price
(A) in cash or by bank check for all Warrant Shares purchased hereunder, or (B)
through a "cashless" or "net-issue" exercise of each such Warrant ("Cashless
Exercise"); the holder shall exchange each Warrant subject to a Cashless
Exercise for that number of Warrant Shares determined by multiplying the number
of Warrant Shares issuable hereunder by a fraction, the numerator of which shall
be the difference between (x) the Market Price and (y) the Exercise Price of
each such Warrant, and the denominator of which shall be the Market Price; the
Subscription Notice shall set forth the calculation upon which the Cashless
Exercise is based, of (C) (a combination of (A) and (B) above; and (iiii) these
Warrants. The Warrants shall be deemed to be exercised on the date of receipt by
the Company

<PAGE>

of the Subscription Notice, accompanied by payment for the Warrant Shares and
surrender of these Warrants, as aforesaid, and such date is referred to herein
as the "Exercise Date". Upon such exercise, the Company shall, as promptly as
practicable and in any event within five business days, issue and deliver to
such holder a certificate or certificates for the full number of the Warrant
Shares purchased by such holder hereunder, and shall, unless the Warrants have
expired, deliver to the holder hereof a new Warrant representing the number of
Warrants, if any, that shall not have been exercised in all other respects
identical to these Warrants. As permitted by applicable law, the person in whose
name the certificates for Common Stock are to be issued shall be deemed to have
become a holder of record of such Common Stock on the Exercise Date and shall be
entitled to all of the benefits of such holder on the Exercise Date, including
without limitation the right to receive dividends and other distributions for
which the record date falls on or after the Exercise Date and to exercise voting
rights.

         2.2      Expenses and Taxes. The Company shall pay all expenses and
taxes (including without limitation, all documentary, stamp, transfer or other
transactional taxes) other than income taxes attributable to the preparation,
issuance or deliver of the Warrants and of the shares of Common Stock issuable
upon exercise of the Warrants.

         2.3      Reservation of Shares. The Company shall ensure that there is
reserved at all times so long as the Warrants remain outstanding, free from
preemptive rights, out of its authorized but unissued shares of Common Stock,
solely for the purpose of effecting the exercise of the Warrants, a sufficient
number of shares of Common Stock to provide for the exercise of the Warrants.

         2.4      Valid Issuance. All shares of Common Stock that may be issued
upon exercise of the Warrants will, upon issuance by the Company, be duly and
validly issued, fully paid and nonassessable and free from all taxes, liens and
charges with respect to the issuance thereof and without limiting the generality
of the foregoing, the Company shall take no action or fail to take any action
which will cause a contrary result (including, without limitation, any action
that would cause the Exercise Price to be less than the par value, if any, of
the Common Stock).

         2.5      Loan Agreement. The Warrants represented hereby were issued
pursuant to a waiver of certain requirements and/or covenants contained in a
certain Loan Agreement between the Holder and the Company dated April 30, 2002
which was provided by the Holder to the Company. The Holder shall be entitled to
the rights to registration under the Securities Act and any applicable state
securities or blue sky laws to the extent set forth in the registration rights
provision found in the Loan Agreement. The terms of the registration rights
provisions are herby incorporated herein for all purposes and shall be
considered a part of this Warrant as if they had been fully set forth herein.

         2.6      Acknowledgement of Rights. At the time of the exercise of the
Warrants in accordance with the terms hereof and upon the written request of the
holder hereof, the Company will acknowledge in writing its continuing obligation
to afford to such holder any rights (including, without limitation, any right to
registration of the Warrant Shares) to which such holder shall continue to be
entitled after such exercise in accordance with the provision of these Warrants'
provided, however, that if the Holder hereof shall fail to make any such
request, such

<PAGE>

failure shall not affect the continuing obligation of the Company to afford to
such Holder any such rights.

         2.7      No Fractional Shares. The Company shall not be required to
issued fractional shares of Common Stock on the exercise of these Warrants. If
more than one Warrant shall be presented for exercise at the same time by the
same holder, the number of full shares of Common Stock which shall be issuable
upon such exercise shall be computed on the basis of the aggregate number of
whole shares of Common Stock purchasable on exercise of the Warrants so
presented. If any fraction of a share of Common Stock would, except for the
provisions of this Section, be issuable on the exercise of this Warrant, the
Company shall pay an amount in cash calculated by it to be equal to the Market
Price of one share of Common stock at the time of such exercise multiplied by
such fraction computed to the nearest whole cent.

                                   ARTICLE III

                                    Transfer

         3.1      Warrant Office. The Company shall maintain an office for
certain purposes specified herein (the "Warrant Office"), which office shall be
the Company's offices to 111 Presidential Boulevard, Suite 158-A, Bala Cynwyd,
Pennsylvania 19004 and may subsequently be such other office of the Company or
of any transfer agent of the Common Stock in the continental United States as to
which written notice has previously been given to the Holder. The Company shall
maintain, at the Warrant Office, a register for the Warrants in which the
Company shall record the name and address of the Person in whose name these
Warrants has been issued, as well as the name and address of each permitted
assignee of the rights of the registered owner hereof.

         3.2      Ownership of Warrants. The Company may deem and treat the
Person in whose name the Warrants are registered as the holder and owner hereof
until provided with notice to the contrary. The Warrants may be exercised by an
assignee for the purchase of Warrant Shares without having new Warrants issued.

         3.3      Restrictions on Transfer of Warrants. These Warrants may be
transferred, in whole or in part, by the Holder. The Company agrees to maintain
at the Warrant Office books for the registration and transfer of the Warrants.
The Company, from time to time, shall register the transfer of the Warrants in
such books upon surrender of this Warrant at the Warrant Office properly
endorsed or accompanied by appropriate instruments of transfer and written
instructions for transfer. Upon any such transfer and upon payment by the holder
or its transferee of any applicable transfer taxes, new Warrants shall be issued
to the transferee and the transferor (as their respective interests may appear)
and the surrendered Warrants shall be cancelled by the Company. The Company
shall pay all taxes(other than securities transfer taxes or income taxes) and
all other expenses and charges payable in connection with the transfer of the
Warrants pursuant to this Section.

<PAGE>

         3.4      Compliance with Securities Laws. Subject to the terms of the
Registration Rights Agreement and notwithstanding any other provisions contained
in these Warrants, the Holder understands and agrees that the following
restrictions and limitations shall be applicable to all Warrant Shares and to
all resales or other transfer thereof pursuant to the Securities Act:

                  3.4.1    The holder hereof agrees that the Warrant Shares may
not be sold or otherwise transferred unless the Warrant Shares are registered
under the Securities Act and applicable state securities or blue sky laws or are
exempt therefrom.

                  3.4.2    A legend in substantially the following form will be
placed on the certificate(s) evidencing the Warrant Shares:

         "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
         "SECURITIES ACT"), OR ANY OTHER APPLICABLE SECURITIES LAW AND,
         ACCORDINGLY, THE SECURITIES REPRESENTED BY THIS CERTIFICATE; MAY NOT BE
         RESOLD, PLEDGED, OR OTHERWISE TRANSFERRED, EXCEPT PURSUANT TO AN
         EFFECTIVE REGISTRATION STATEMENT UNDER, OR IN A TRANSACTION EXEMPT FROM
         REGISTRATION UNDER, THE SECURITIES ACT AND IN ACCORDANCE WITH ANY OTHER
         APPLICABLE SECURITIES LAWS."

                                   ARTICLE IV

                                 Anti-Dilution

         4.1      If and whenever any Additional Common Stock (as herein
defined) shares shall be issued by the company (the "Stock Issue Date") for a
consideration per share less than the Exercise Price, then in each such case the
initial Exercise Price shall be reduced to a new Exercise Price in an amount
equal to the consideration per share received by the Company for the additional
shares of Common Stock then issued and the number of shares issuable to Holder
upon conversion shall be proportionately increased; and, in the case of shares
issued without consideration, the initial Exercise Price shall be reduced in an
amount and number of shares issued upon conversion shall be increased in an
amount so as to maintain for the Holder the right to exercise into shares equal
in amount to the same percentage interest in the Common Stock of the Company as
existed for the Holder immediately preceding the Stock Issue Date.

         4.2      Sale of Shares: In case of the issuance of Additional Common
Stock for a consideration part or all of which shall be cash, the amount of the
cash consideration therefore shall be deemed to be the amount of the case
received by the company for such shares, after any compensation or discount in
the sale, underwriting or purchase thereof by underwriters or dealers or others
performing similar services on for any expenses incurred in connection
therewith. In case of the issuance of any shares of Additional Common Stock for
a consideration part or all of which shall be other than cash, the amount of the
consideration therefore, other than cash, shall be deemed to be the then fair
market value of the property received as determined by an investment banking
firm selected by Lender.

<PAGE>

         4.3      Reclassification of Shares: In case of the reclassification of
securities into shares of Common Stock, the shares of Common Stock issued in
such reclassification shall be deemed to have been issued for a consideration
other than cash. Shares of Additional Common Stock issued by way of dividend or
other distribution on any class of stock of the Company shall be deemed to have
been issued without consideration.

         4.4      Split up of Combination of Shares: In case issued and
outstanding shares of Common Stock shall be subdivided or split up into a
greater number of shares of the Common Stock, the Exercise Price shall be
proportionately decreased, and in case issued and outstanding shares of Common
Stock shall be combined into a smaller number of shares of Common Stock, the
Exercise Price shall be proportionately increased, such increase or decrease, as
the case may be, becoming effective at the time of record of the split-up or
combination, as the case may be.

         4.5      Exceptions: The term "Additional Common Stock" herein shall
mean in the most broadest sense all shares of Common Stock hereafter issued by
the Company (including, but not limited to Common Stock held in the treasury of
the Company and common stock purchasable via derivative security or option on
the date of such grant), except Common Stock issued upon the exercise of this
warrant or Convertible Notes.

         4.6      In the event of distribution to all Common Stock holders of
any stock, indebtedness of the Company or assets or other rights to purchase
securities or assets, then, after such event, the Exercise Price reduced to so
entitle the Holder to the economic interest he had immediately prior to the
occurrence of such event.

         4.7      In case of any capital reorganization, reclassification of the
stock of the Company (other than a change in par value or as a result of a stock
dividend, subdivision, split up or combination of shares), the Exercise Price
reduced to so as to entitle the Holder to the economic interest he has
immediately prior to the occurrence of such event. The provisions of these
foregoing sentence shall similarly apply to successive reorganizations,
reclassifications, consolidations, exchanges, leases, transfers or other
dispositions or other share exchanges.

         4.8      Notice of Adjustment. (A) In the event the Company shall
propose to take any action which shall result in an adjustment in the Exercise
Price, the Company shall give notice to the Holder, which notice shall specify
the record date, if any, with respect to such action and the date on which such
action is to take place. Such notice shall be given on or before the earlier of
10 days before the record date or the date on which such action shall be taken.
Such notice shall also set forth all facts (to the extent known) material to the
effect of such action on the Exercise Price and the number, kind or class of
shares or other securities or property which shall be deliverable or purchasable
upon the occurrence of such action or deliverable upon exercise of this warrant
(B) Following completion of an event wherein the Exercise Price shall be
adjusted, the Company shall furnish to the Holder a statement, signed by an
authorized officer of the Company of the facts creating such adjustment and
specifying the resultant adjusted Exercise Price then in effect.

<PAGE>

                                    ARTICLE V

                                  Miscellaneous

         5.1      Entire Agreement. These Warrants, together with the Loan
Agreement, contain the entire agreement between the holder and the Company with
respect to the Warrant Shares purchasable upon exercise hereof and the related
transactions and supersedes all prior arrangements or understanding with respect
thereto.

         5.2      Governing Law. This Warrant shall be governed by and construed
in accordance with the laws of the State of Texas in the courts located in
Dallas, Texas.

         5.3      Waiver and Amendment. Any term or provision of these Warrants
may be waived at any time by the party which is entitled to the benefits thereof
and any term or provision of these Warrants may be amended or supplemented at
any time by agreement of the holder hereof and the Company, except that any
waiver of any term or condition, or any amendment or supplementation, of these
Warrants shall be in writing. A waiver of any breach or failure to enforce any
of the terms or conditions of these Warrant shall not in any way effect, limit
or waive a party's rights hereunder at any time to enforce strict compliance
thereafter with every term or condition of these Warrants.

         5.4      Illegality. In the event that may one or more of the
provisions contained in this Warrant shall be determined to be invalid, illegal
or unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision in any other respect and the remaining
provision of these Warrants shall not, at the election of the party for whom the
benefit of the provision exists, be in any way impaired.

         5.5      Notice. Any notice or other document required or permitted to
be given or delivered to the holder hereof shall be in writing and delivered at,
or sent by certified or registered mail to such holder at, the last address
shown on the books of the Company maintained at the Warrant Office for the
registration of these Warrants or at any more recent address of which the holder
hereof shall have notified the Company in writing.

         5.6      Notice. Any notice or other document required or permitted to
be given or delivered to the holder hereof shall be in writing and delivered at,
or sent by certified or registered mail to such holder at, the last address
shown on the books of the Company maintained at the Warrant Office for the
registration of these Warrants or at any more recent address of which the holder
hereof shall have notified the Company in writing.

         5.7      Limitation of Liability; Note Stockholders. No provision of
these Warrants shall be construed as conferring upon the holder hereof the right
to vote, consent, receive dividends or receive notices (other than as herein
expressly provided) in respect of meetings of stockholders for the election of
directors of the Company or any other matter whatsoever as a stockholder of the
Company. No provision hereof, in the absence of affirmative action by the holder
hereof to purchase shares of Common Stock, and no mere enumeration herein of the
rights or privileges of the holder hereof, shall give rise to any liability of
such holder for the purchase price of any
<PAGE>

shares of Common Stock or as a stockholder of the Company, whether such
liability is asserted by the Company or by creditors of the Company.

         5.8      Exchange, Loss, Destruction, etc. of Warrant. Upon receipt of
evidence reasonably satisfactory to the Company of the loss, theft, mutilation
or destruction of these Warrants, and in the case of any such loss, theft or
destruction upon delivery of any appropriate affidavit in such form as shall be
reasonably satisfactory to the Company and include reasonable indemnification of
the Company, or in the event of such mutilation upon surrender and cancellation
of these Warrants, the Company will make and deliver new Warrants of like tenor,
in lieu of such lost, stolen, destroyed or mutilated Warrants. Any Warrants
issued under the provisions of this Section in lieu of any Warrants alleged to
be lost, destroyed or stolen, or in lieu of any mutilated Warrants, shall
constitute an original contractual obligation on the part of the Company. These
shall be promptly canceled by the Company upon the surrender hereof in
connection with any exchange or replacement. The Company shall pay all taxes
(other than securities transfer taxes or income taxes) and all other expenses
and charges payable in connection with the preparation, execution and delivery
of Warrants pursuant to this Section.

         5.9      Headings. The Article and Section and other headings herein
are for convenience only and are not a party of this Warrant and shall not
affect the interpretation thereof.

         IN WITNESS WHEREOF, the Company has caused this Warrant to be signed in
its name dated March 24,2003.

                                          Continental Southern Resources, Inc.

                                          By:__________________________________
                                             Stephen P. Harrington, President

<PAGE>

                               SUBSCRIPTION NOTICE

The undersigned, the holder of the foregoing Warrants, hereby elects to exercise
purchase rights represented thereby for, and to purchase thereunder
___________________________ shares of the Common stock covered by such Warrants,
and herewith makes payment in full for such shares, and requests (a) that
certificates for such shares (and any other securities or other property
issuable upon such exercise) be issued in the name of, and delivered to
_________________________________________________ and (b), if such shares shall
not include all of the shares issuable as provided in such Warrants, that new
Warrants of like tenor and date for the balance of the shares issuable
thereunder be delivered to the undersigned.

                                                 _______________________________

Date:_____________________

<PAGE>

                                   ASSIGNMENT

         For value received, _____________________, hereby sells, assigns and
transfers unto ___________________ these Warrants, together with all rights,
title and interest therein, and does irrevocably constitute and appoint
___________ attorney, to transfer such Warrants on the books of the Company,
with full power of substitution.

                                                 _______________________________

Date:_____________________
<PAGE>
                               FIRST AMENDMENT TO

                                    WARRANTS

                           to Purchase Common Stock of

                      Continental Southern Resources, Inc.
                             (a Nevada Corporation)

                           Expiring on April 30, 2012

Warrant No. 2003-1

To reflect the Company's proper state or incorporation and to memorialize the
prior agreements of the parties, this warrant is hereby amended as follows:

The introductory and referenced paragraphs are hereby replaced as follows:

This Common Stock Purchase Warrant (the "Warrant") certifies that for value
received, Trident Growth Fund,. (the "Holder") or its assigns, is entitled to
subscribe for and purchase from the Company (as hereinafter defined), in whole
or in part, 25,000 shares of duly authorized, validly issued, fully paid and
nonassessable shares of Common Stock (as hereinafter defined) at an initial
Exercise Price (as hereinafter defined) per share of $1.60, subject, however, to
the provisions and upon the terms and conditions hereinafter set forth. The
number of Warrants (as hereinafter defined), the number of shares of Common
Stock purchasable hereunder, and the Exercise Price therefore are subject to
adjustment as hereinafter set forth. These Warrants and all rights hereunder
shall expire at 5:00 p.m., Houston, Texas time, April 30, 2012.

All other provision not superficially modified herein are in full force and
effect.

         IN WITNESS WHEREOF, the Company has caused this Amendment to be signed
in its name dated July 29, 2003.

                                           Continental Southern Resources, Inc.

                                           /s/ STEPHEN P. HARRINGTON
                                           ------------------------------------
                                          Stephen P. Harrington
                                           Title: President

<PAGE>

                               SECOND AMENDMENT TO

                                    WARRANTS

                           to Purchase Common Stock of
                      Continental Southern Resources, Inc.
                             (a Nevada Corporation)

                           Expiring on April 30, 2012

Warrant No. 2003-1

To memorialize the prior agreements of the parties, this warrant is hereby
amended as follows:

1.       The introductory paragraph is hereby deleted in its entirety and
replaced with the following:

"This Common Stock Purchase Warrant (the "Warrant") certifies that for value
received, Trident Growth Fund,. (the "Holder") or its assigns, is entitled to
subscribe for and purchase from the Company (as hereinafter defined), in whole
or in part, 25,000 shares of duly authorized, validly issued, fully paid and
nonassessable shares of Common Stock (as hereinafter defined) at an initial
Exercise Price (as hereinafter defined) per share of $2.00, subject, however, to
the provisions and upon the terms and conditions hereinafter set forth. The
number of Warrants (as hereinafter defined), the number of shares of Common
Stock purchasable hereunder, and the Exercise Price therefore are subject to
adjustment as hereinafter set forth. These Warrants and all rights hereunder
shall expire at 5:00 p.m., Houston, Texas time, April 30, 2012."

2.       Section IV.5 is hereby deleted in its entirety and replaced with the
following:

"Exceptions: The term "Additional Common Stock" herein shall mean in the most
broadest sense all shares of Common Stock hereafter issued by the Company
(including, but not limited to, Common Stock held in the treasury of the Company
and Common Stock purchasable via derivative security or option on the date of
such grant), except (i) Common Stock issued upon the exercise of this warrant or
any other warrants issued to Holder, (ii) Common Stock issued upon the
conversion of the Convertible Notes, (iii) Common Stock issuable or issued to
employees, consultants or directors of the Company or its consolidated
subsidiaries or other consolidated entities directly or pursuant to a stock
option plan, restricted stock plan or other incentive plan approved by the Board
of Directors of the Company, (iv) Common Stock issued or issuable in connection
with a bona fide business acquisition of or by the Company or its consolidated
subsidiaries or other consolidated entities approved by the Board of Directors,
whether by merger, consolidation, sale of assets, sale or exchange of stock or
otherwise, including Common Stock issued in connection with the Company's
proposed acquisition of NSNV, Inc., a Texas corporation ("NSNV"), and Common
Stock issued in connection with the payment of an advisory fee payable upon the
successful completion of the acquisition of NSNV."

All other provisions not modified herein are in full force and effect.

                                       2

<PAGE>

For good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Holder and the Company have executed this Amendment by its
duly authorized signatories, this 26th day of February, 2004.

                                        Continental Southern Resources, Inc.

                                        /s/ STEPHEN P. HARRINGTON
                                        ---------------------------------------
                                        Stephen P. Harrington
                                        Title: President

                                        Trident Growth Fund, L.P.
                                        By:  Trident Management, LLC,
                                             its general partner

                                        /s/ SCOTT COOK
                                        ---------------------------------------
                                        Name: Scott Cook
                                        Title: General Partner

                                       3

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