Document:

Exhibit 10.3

THIS  NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR  ANY  STATE  SECURITIES  LAWS.  THIS  NOTE MAY NOT BE SOLD, OFFERED FOR SALE,
PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS
TO  THIS  NOTE  UNDER  SAID  ACT  AND ANY APPLICABLE STATE SECURITIES LAWS OR AN
OPINION OF COUNSEL REASONABLY SATISFACTORY TO NEW CENTURY ENERGY CORP. THAT SUCH
REGISTRATION  IS  NOT  REQUIRED.

                                SECURED TERM NOTE
                                -----------------

     FOR  VALUE  RECEIVED, NEW CENTURY ENERGY CORP., a Colorado corporation (the
"COMPANY"),  hereby  promises  to  pay  to  LAURUS  MASTER  FUND,  LTD., c/o M&C
Corporate  Services Limited, P.O. Box 309 GT, Ugland House, South Church Street,
George  Town,  Grand Cayman, Cayman Islands, Fax: 345-949-8080 (the "HOLDER") or
its  registered  assigns or successors in interest, the sum of Nine Million Five
Hundred  Thousand  Dollars  ($9,500,000),  together  with any accrued and unpaid
interest hereon, on March 19, 2006 (the "MATURITY DATE") if not sooner paid.

     Capitalized  terms  used  herein without definition shall have the meanings
ascribed to such terms in that certain Securities Purchase Agreement dated as of
the  date hereof by and between the Company and the Holder (as amended, modified
and/or supplemented from time to time, the "PURCHASE AGREEMENT").

    The following terms shall apply to this Secured Term Note (this "NOTE"):

                                    ARTICLE I
                          CONTRACT RATE AND REDEMPTION

          1.1  Contract  Rate. Subject to Sections 2.2 and 3.9, interest payable
               --------------
     on  the  outstanding principal amount of this Note (the "PRINCIPAL AMOUNT")
     shall  accrue  at  a  rate  per  annum  equal  to twenty percent (20%) (the
     "CONTRACT  RATE").  Interest  shall be (i) calculated on the basis of a 360
     day  year,  and (ii) payable monthly, in arrears, commencing on November 1,
     2005,  on  the  first  business  day  of  each  consecutive  calendar month
     thereafter  through  and  including  the Maturity Date, and on the Maturity
     Date, whether by acceleration or otherwise.

          1.2  Mandatory  Redemption.  The  total  outstanding  Principal Amount
               ---------------------
     together  with any accrued and unpaid interest and any and all other unpaid
     amounts  which  are  then  owing  by the Companies to the Holder under this
     Note,  the  Purchase  Agreement and/or any other Related Agreement shall be
     due and payable on the Maturity Date.

          1.3  Optional  Redemption. The Company may prepay this Note ("OPTIONAL
               --------------------
     REDEMPTION") by paying to the Holder a sum of money equal to the Applicable
     Principal  Amount  (as  defined  below)  together  with  accrued but unpaid
     interest  thereon and any and all other sums due, accrued or payable to the
     Holder  arising  under  this  Note, the Purchase Agreement and/or any other
     Related  Agreement  (the "REDEMPTION AMOUNT") outstanding on the Redemption

<PAGE>

     Payment  Date (as defined below). The Company shall deliver to the Holder a
     written  notice  of  redemption (the "NOTICE OF REDEMPTION") specifying the
     date  for  such  Optional Redemption (the "REDEMPTION PAYMENT DATE"), which
     date  shall  be  seven  (7)  business  days after the date of the Notice of
     Redemption.  On  the Redemption Payment Date, the Redemption Amount must be
     paid in good funds to the Holder. In the event the Company fails to pay the
     Redemption  Amount on the Redemption Payment Date as set forth herein, then
     such  Notice  of  Redemption  will  be  null and void. For purposes of this
     Section  1.3,  the  "APPLICABLE  PRINCIPAL  AMOUNT"  shall mean 100% of the
     Principal Amount outstanding at the time of such prepayment.

                                   ARTICLE II
                                EVENTS OF DEFAULT

     2.1  Events  of  Default. The occurrence of any of the following events set
          ------------------
forth  in  this  Section  2.1  shall  constitute  an event of default ("EVENT OF
DEFAULT") hereunder:

          (a)  Failure to Pay. The Company fails to pay when due any installment
               --------------
     of  principal, interest or other fees hereon in accordance herewith, or the
     Company  fails to pay any of the other Obligations (under and as defined in
     the  Master  Security  Agreement)  when  due,  and,  in any such case, such
     failure  shall  continue  for a period of three (3) days following the date
     upon which any such payment was due.

          (b)  Breach  of  Covenant.  The  Company  or  any  of its Subsidiaries
               -------------------
     breaches  any  covenant  or any other term or condition of this Note in any
     material  respect  and  such  breach,  if  subject to cure, continues for a
     period of fifteen (15) days after the occurrence thereof.

          (c)  Breach  of  Representations  and  Warranties. Any representation,
               --------------------------------------------
     warranty  or  statement  made  or  furnished  by  the Company or any of its
     Subsidiaries  in  this  Note,  the  Purchase Agreement or any other Related
     Agreement  shall at any time be false or misleading in any material respect
     on the date as of which made or deemed made.

          (d)  Default Under Other Agreements. The occurrence of any default (or
               ------------------------------
     similar  term)  in  the observance or performance of any other agreement or
     condition  relating  to  any  indebtedness  or contingent obligation of the
     Company or any of its Subsidiaries beyond the period of grace (if any), the
     effect  of  which  default  is to cause, or permit the holder or holders of
     such  indebtedness  or  beneficiary  or  beneficiaries  of  such contingent
     obligation  to  cause,  such indebtedness to become due prior to its stated
     maturity or such contingent obligation to become payable;

          (e) Material Adverse Effect. Any change or the occurrence of any event
              ----------------------
     which could reasonably be expected to have a Material Adverse Effect;

          (f) Bankruptcy. The Company or any of its Subsidiaries shall (i) apply
              ----------
     for,  consent  to  or  suffer to exist the appointment of, or the taking of
     possession by, a receiver, custodian, trustee or liquidator of itself or of
     all  or  a substantial part of its property, (ii) make a general assignment
     for  the  benefit  of  creditors, (iii) commence a voluntary case under the
     federal  bankruptcy  laws  (as  now  or  hereafter  in  effect),  (iv)  be
     adjudicated  a  bankrupt  or insolvent, (v) file a petition seeking to take
     advantage  of  any  other  law  providing  for  the relief of debtors, (vi)
     acquiesce to, without challenge within ten (10) days of the filing thereof,
     or  failure  to have dismissed, within thirty (30) days, any petition filed
     against  it  in  any  involuntary case under such bankruptcy laws, or (vii)
     take any action for the purpose of effecting any of the foregoing;

<PAGE>

          (g)  Judgments.  Attachments  or  levies  in excess of $100,000 in the
               ---------
     aggregate  are made upon the Company or any of its Subsidiary's assets or a
     judgment  is  rendered against the Company's property involving a liability
     of more than $100,000 which shall not have been vacated, discharged, stayed
     or bonded within thirty (30) days from the entry thereof;

          (h)  Insolvency. The Company or any of its Subsidiaries shall admit in
               ---------
     writing  its  inability,  or  be generally unable, to pay its debts as they
     become due or cease operations of its present business;

          (i)  Change  in Control. A Change in Control shall occur. A "Change in
               -----------------
     Control"  shall  arise  when  any  "Person"  or  "group" (as such terms are
     defined  in  Sections  13(d) and 14(d) of the Exchange Act, as in effect on
     the  date hereof) is or becomes the "beneficial owner" (as defined in Rules
     13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly, of 35%
     or  more  on  a  fully  diluted basis of the then outstanding voting equity
     interest of the Company (other than a "Person" or "group" that beneficially
     owns 35% or more of such outstanding voting equity interests of the Company
     on  the  date  hereof)  or (ii) the Board of Directors of the Company shall
     cease  to  consist of a majority of the Company's board of directors on the
     date hereof (or directors appointed by a majority of the board of directors
     in effect immediately prior to such appointment);

          (j)  Indictment;  Proceedings. The indictment or threatened indictment
               ------------------------
     of  the  Company or any of its Subsidiaries or any executive officer of the
     Company  or  any  of  its  Subsidiaries  under  any  criminal  statute,  or
     commencement  or  threatened  commencement  of criminal or civil proceeding
     against  the Company or any of its Subsidiaries or any executive officer of
     the  Company  or  any  of  its  Subsidiaries  pursuant  to which statute or
     proceeding  penalties or remedies sought or available include forfeiture of
     any of the property of the Company or any of its Subsidiaries;

          (k) The Purchase Agreement, Related Agreements, the June 2005 Purchase
              ------------------------------------------------------------------
     Agreement  and  the  June  2005 Related Agreements. (i) An Event of Default
     --------------------------------------------------
     shall  occur  under  and  as  defined  in the Purchase Agreement, any other
     Related  Agreement,  the Securities Purchase Agreement dated as of June 30,
     2005  by  and  between the Holder and the Company (as amended, modified and
     supplemented  from time to time, the "June 2005 Purchase Agreement") and/or
     any other document, instrument or agreement entered into in connection with
     the  transactions  contemplated  by  the  June  2005 Purchase Agreement (as
     amended,  modified  and  supplemented  from  time  to  time, the "June 2005
     Related  Agreements")  and/or  hereby  (ii)  the  Company  or  any  of  its
     Subsidiaries  shall  breach any term or provision of the Purchase Agreement
     or  any other Related Agreement in any material respect and such breach, if
     capable  of  cure,  continues  unremedied for a period of fifteen (15) days
     after  the occurrence thereof, (iii) the Company or any of its Subsidiaries
     attempts  to terminate, challenges the validity of, or its liability under,
     the  Purchase Agreement or any Related Agreement, (iv) any proceeding shall
     be  brought  to  challenge  the  validity,  binding  effect of the Purchase
     Agreement  or  any  Related  Agreement or (v) the Purchase Agreement or any
     Related  Agreement ceases to be a valid, binding and enforceable obligation
     of  the  Company  or any of its Subsidiaries (to the extent such persons or
     entities are a party thereto); or

<PAGE>

     2.2  Default  Interest. Following the occurrence and during the continuance
          -----------------
of  an  Event of Default, the Company shall pay additional interest on this Note
in  an  amount  equal  to  two  percent  (2%)  per  month,  and  all outstanding
obligations  under  this  Note,  the  Purchase  Agreement and each other Related
Agreement,  including unpaid interest, shall continue to accrue interest at such
additional  interest  rate from the date of such Event of Default until the date
such Event of Default is cured or waived.

     2.3 Default Payment. Following the occurrence and during the continuance of
         --------------
an  Event of Default, the Holder, at its option, may demand repayment in full of
all  obligations and liabilities owing by Company to the Holder under this Note,
the  Purchase  Agreement and/or any other Related Agreement and/or may elect, in
addition  to  all rights and remedies of the Holder under the Purchase Agreement
and  the  other  Related  Agreements  and all obligations and liabilities of the
Company  under  the  Purchase  Agreement  and  the  other Related Agreements, to
require  the  Company to make a Default Payment ("DEFAULT PAYMENT"). The Default
Payment  shall  be  130%  of  the outstanding principal amount of the Note, plus
accrued but unpaid interest, all other fees then remaining unpaid, and all other
amounts  payable  hereunder.  The  Default Payment shall be applied first to any
fees  due  and  payable  to  the  Holder  pursuant  to  this  Note, the Purchase
Agreement,  and/or  the  other  Related  Agreements,  then to accrued and unpaid
interest  due on this Note and then to the outstanding principal balance of this
Note.  The Default Payment shall be due and payable immediately on the date that
the Holder has exercised its rights pursuant to this Section 2.3.

                                  ARTICLE III
                                  MISCELLANEOUS

     3.1 Cumulative Remedies. The remedies under this Note shall be cumulative.
         ---------------------------------------------------------------------

     3.2  Failure  or  Indulgence Not Waiver. No failure or delay on the part of
          ----------------------------------
the  Holder  hereof  in  the exercise of any power, right or privilege hereunder
shall  operate  as a waiver thereof, nor shall any single or partial exercise of
any such power, right or privilege preclude other or further exercise thereof or
of  any  other  right,  power  or  privilege.  All  rights and remedies existing
hereunder  are  cumulative  to,  and  not  exclusive  of, any rights or remedies
otherwise available.

     3.3  Notices.  Any notice herein required or permitted to be given shall be
          -------
in writing and provided in accordance with the terms of the Purchase Agreement.

     3.4  Amendment  Provision.  The  term "Note" and all references thereto, as
          --------------------
used  throughout  this  instrument,  shall  mean  this  instrument as originally
executed,  or  if  later  amended  or  supplemented,  then  as  so  amended  or
supplemented,  and  any successor instrument as such successor instrument may be
amended or supplemented.

     3.5  Assignability.  This  Note  shall  be binding upon the Company and its
          -------------
successors  and  assigns,  and  shall inure to the benefit of the Holder and its
successors and assigns, and may be assigned by the Holder in accordance with the
requirements  of  the  Purchase Agreement. The Company may not assign any of its
obligations under this Note without the prior written consent of the Holder, any
such purported assignment without such consent being null and void.

<PAGE>

     3.6  Cost  of  Collection. In case of any Event of Default under this Note,
          -------------------
the  Company  shall  pay  the  Holder  reasonable costs of collection, including
reasonable attorneys' fees.

     3.7 Governing Law, Jurisdiction and Waiver of Jury Trial.
         ----------------------------------------------------

          (a)  THIS  NOTE  SHALL  BE  GOVERNED  BY AND CONSTRUED AND ENFORCED IN
     ACCORDANCE  WITH  THE  LAWS  OF  THE  STATE  OF NEW YORK, WITHOUT REGARD TO
     PRINCIPLES OF CONFLICTS OF LAW.

          (b)  THE  COMPANY HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL
     COURTS  LOCATED  IN  THE  COUNTY  OF NEW YORK, STATE OF NEW YORK SHALL HAVE
     EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN
     THE COMPANY, ON THE ONE HAND, AND THE HOLDER, ON THE OTHER HAND, PERTAINING
     TO  THIS  NOTE  OR  ANY  OF  THE  OTHER RELATED AGREEMENTS OR TO ANY MATTER
     ARISING  OUT  OF  OR RELATED TO THIS NOTE OR ANY OF THE RELATED AGREEMENTS;
     PROVIDED,  THAT THE COMPANY ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS
     -------
     MAY  HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE COUNTY OF NEW YORK,
     STATE OF NEW YORK; AND FURTHER PROVIDED, THAT NOTHING IN THIS NOTE SHALL BE
                            ---------------
     DEEMED OR OPERATE TO PRECLUDE THE HOLDER FROM BRINGING SUIT OR TAKING OTHER
     LEGAL  ACTION  IN  ANY  OTHER  JURISDICTION  TO COLLECT THE OBLIGATIONS, TO
     REALIZE  ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO
     ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF THE HOLDER. THE COMPANY
     EXPRESSLY  SUBMITS  AND  CONSENTS  IN  ADVANCE  TO SUCH JURISDICTION IN ANY
     ACTION  OR  SUIT COMMENCED IN ANY SUCH COURT, AND THE COMPANY HEREBY WAIVES
     ANY  OBJECTION  WHICH IT MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION,
     IMPROPER  VENUE OR FORUM NON CONVENIENS. THE COMPANY HEREBY WAIVES PERSONAL
                        --------------------
     SERVICE  OF  THE  SUMMONS,  COMPLAINT  AND OTHER PROCESS ISSUED IN ANY SUCH
     ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER
     PROCESS  MAY  BE  MADE  BY  REGISTERED  OR  CERTIFIED MAIL ADDRESSED TO THE
     COMPANY AT THE ADDRESS SET FORTH IN THE PURCHASE AGREEMENT AND THAT SERVICE
     SO  MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF THE COMPANY'S ACTUAL
     RECEIPT  THEREOF  OR THREE (3) DAYS AFTER DEPOSIT IN THE U.S. MAILS, PROPER
     POSTAGE PREPAID.

          (c)  THE  COMPANY  DESIRES  THAT  ITS  DISPUTES BE RESOLVED BY A JUDGE
     APPLYING  SUCH  APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION
     OF  THE  BENEFITS  OF  THE  JUDICIAL SYSTEM AND OF ARBITRATION, THE COMPANY
     HERETO  WAIVES  ALL  RIGHTS  TO  TRIAL  BY  JURY  IN  ANY  ACTION, SUIT, OR
     PROCEEDING  BROUGHT  TO  RESOLVE  ANY DISPUTE, WHETHER ARISING IN CONTRACT,
     TORT,  OR  OTHERWISE  BETWEEN  THE  HOLDER  AND THE COMPANY ARISING OUT OF,
     CONNECTED  WITH,  RELATED  OR  INCIDENTAL  TO  THE RELATIONSHIP ESTABLISHED
     BETWEEN  THEM  IN CONNECTION WITH THIS NOTE, ANY OTHER RELATED AGREEMENT OR
     THE TRANSACTIONS RELATED HERETO OR THERETO.

<PAGE>

     3.8  Severability.  In the event that any provision of this Note is invalid
          -----------
or  unenforceable  under  any  applicable  statute  or  rule  of  law, then such
provision  shall  be  deemed  inoperative  to  the  extent  that it may conflict
therewith  and  shall be deemed modified to conform with such statute or rule of
law.  Any  such provision which may prove invalid or unenforceable under any law
shall  not  affect the validity or enforceability of any other provision of this
Note.

     3.9 Maximum Payments. Nothing contained herein shall be deemed to establish
         ----------------
or  require  the payment of a rate of interest or other charges in excess of the
maximum  permitted  by  applicable  law.  In the event that the rate of interest
required to be paid or other charges hereunder exceed the maximum rate permitted
by  such  law,  any  payments  in  excess of such maximum rate shall be credited
against  amounts  owed  by  the  Company  to the Holder and thus refunded to the
Company.

     3.10  Security  Interest  and  Guarantee.  The  Holder  has  been granted a
           ----------------------------------
security  interest  (i) in certain assets of the Company and its Subsidiaries as
more  fully described in the Master Security Agreement and in the Mortgage, Deed
of  Trust,  Security Agreement, Financing Statement and Assignment of Production
and  (ii) in the equity interests of the Companies' Subsidiaries pursuant to the
Stock  Pledge  Agreement  which such security interests, in each case, have been
reaffirmed and ratified pursuant to the Reaffirmation Agreement. The obligations
of  the  Company  under  this Note are guaranteed by certain Subsidiaries of the
Company  pursuant  to the Subsidiary Guaranty which guaranty has been reaffirmed
pursuant to the Reaffirmation Agreement.

     3.11  Construction.  Each  party  acknowledges  that  its  legal  counsel
           ------------
participated in the preparation of this Note and, therefore, stipulates that the
rule  of  construction  that ambiguities are to be resolved against the drafting
party shall not be applied in the interpretation of this Note to favor any party
against the other.

       [Balance of page intentionally left blank; signature page follows]

<PAGE>

     IN  WITNESS  WHEREOF,  the  Company has caused this Secured Term Note to be
signed in its name effective as of this 19 day of September, 2005.

                                     NEW CENTURY ENERGY CORP.

                                     By: /s/ Edward R. DeStefano
                                        ---------------------
                                        Name: Edward R. DeStefano
                                        Title: President & CEO

WITNESS:

/s/ Kimberly Newman
-----------------------------

<PAGE>Exhibit 10.4

                    REAFFIRMATION AND RATIFICATION AGREEMENT
                    ----------------------------------------

                                                           September  19,  2005
Laurus Master Fund, Ltd.
c/o Laurus Capital Management LLC
825 Third Avenue
New York, New York 10022

Ladies  and  Gentlemen:

     Reference is made to (a) the Securities Purchase Agreement dated as of June
30, 2005 (as amended, modified or supplemented from time to time, the "June 2005
SPA")  by  and  between  New  Century  Energy Corp., a Colorado corporation (the
"Company"), and Laurus Master Fund, Ltd. ("Laurus"), (b) the Secured Convertible
Term  Note  dated  as of June 30, 2005 made by the Company in favor of Laurus in
the  aggregate  principal  amount  of Fifteen Million Dollars ($15,000,000) (the
"June  2005  Term Note"), (c) the Subsidiary Guaranty, dated as of June 30, 2005
(as  amended,  modified or supplemented from time to time, the "Guaranty"), made
by  Century  Resources,  Inc.,  a Delaware corporation ("Century Resources"), in
favor  of  Laurus,  (d) the Master Security Agreement, dated as of June 30, 2005
(as  amended,  modified  or supplemented from time to time, the "Master Security
Agreement"),  among  New  Century  Energy  Corp.,  a  Colorado  corporation (the
"Company"),  Century  Resources  and  Laurus,  (e) each Mortgage, Deed of Trust,
Security  Agreement,  Financing Statement and Assignment of Production, dated as
of  June  30, 2005, made by the Company and Century Resources in favor of Laurus
(as  amended,  modified and supplemented from time to time, the "Mortgages") and
(f)  the Stock Pledge Agreement, dated as of June 30, 2005 (as amended, modified
or  supplemented  from time to time, the "Pledge Agreement"), by and between the
Company  and  Laurus  (the June 2005 SPA, the June 2005 Term Note, the Guaranty,
the  Master  Security  Agreement, the Mortgages and the Pledge Agreement, each a
"June 2005 Agreement" and collectively, the "June 2005 Agreements").

     To  induce  Laurus to enter into the Securities Purchase Agreement dated as
of  the  date hereof by and between the Company and Laurus (as amended, restated
or  otherwise  modified,  the "September 2005 SPA") pursuant to which Laurus has
agreed  to  purchase  from  the  Company  a  Secured  Term Note in the aggregate
principal amount of Nine Million Five Hundred Thousand Dollars ($9,500,000) (the
"September 2005 Term Note"), each of the undersigned hereby:

     (a) represents and warrants to Laurus that it has reviewed and approved the
terms and provisions of the September 2005 SPA, the September 2005 Term Note and
the  Related  Agreements  (as  defined in the September 2005 SPA, the "September
2005  Related Agreements") (the September 2005 SPA, the September 2005 Term Note
and the September 2005 Related Agreements, each a "September 2005 Agreement" and
collectively, the "September 2005 Agreements");

     (b)  acknowledges, ratifies and confirms that all of the terms, conditions,
representations  and covenants contained in the June 2005 Agreements to which it
is  a  party  are  in  full  force and effect and shall remain in full force and
effect  after  giving effect to the execution and effectiveness of the September
2005 Agreements;

<PAGE>

     (c) acknowledges, ratifies and confirms that the defined term "Obligations"
under  the  Guaranty,  the  Master  Security Agreement and the Mortgages and the
defined  term  "Indebtedness"  under  the  Pledge  Agreement  include,  without
limitation,  all  obligations and liabilities of the Company under the September
2005  Agreements,  the June 2005 SPA, the Secured Convertible Term Note dated as
of  June  30,  2005  made  by  the  Company  in favor of Laurus in the aggregate
principal  amount of Fifteen Million Dollars ($15,000,000) (as amended, modified
and  supplemented  from  time  to  time, the "June 2005 Term Note"), the Related
Agreements  (as  defined  in  the  June  2005  SPA)  (as  amended,  modified and
supplemented  from  time  to  time,  the "June 2005 Related Agreements") and all
other  obligations  and  liabilities  of  each  of  the  undersigned  to  Laurus
(including  interest accruing after the filing of any petition in bankruptcy, or
the  commencement  of any insolvency, reorganization or like proceeding, whether
or not a claim for post-filing or post-petition interest is allowed or allowable
in  such  proceeding),  whether  now  existing  or  hereafter arising, direct or
indirect,  liquidated or unliquidated, absolute or contingent (collectively, the
"Obligations");

     (d)  acknowledges  and  confirms that the occurrence of an Event of Default
under  any of the September 2005 Agreements shall constitute an Event of Default
under  the  June  2005 Agreements and (ii) the occurrence of an Event of Default
under any of the June 2005 Agreements shall constitute an Event of Default under
the September 2005 Agreements;

     (e)  represents  and  warrants  that  no offsets, counterclaims or defenses
exist as of the date hereof with respect to any of the undersigned's obligations
under any of the June 2005 Agreements;

     (f)  acknowledges,  ratifies and confirms (1) the grant by each undersigned
to  Laurus  of a security interest and lien in the assets of each undersigned as
more  specifically  set forth in the June 2005 Agreements and the September 2005
Agreements,  as  applicable  (the  "Security  Interest Grants") and (2) that the
Security Interest Grants secure all Obligations; and

     (g)  releases,  remises,  acquits and forever discharges Laurus and Laurus'
employees,  agents,  representatives,  consultants,  attorneys,  fiduciaries,
officers,  directors, partners, predecessors, successors and assigns, subsidiary
corporations,  parent  corporations, and related corporate divisions (all of the
foregoing  hereinafter  called the "Released Parties"), from any and all actions
and  causes  of  action,  judgments,  executions, suits, debts, claims, demands,
liabilities, obligations, damages and expenses of any and every character, known
or  unknown,  direct and/or indirect, at law or in equity, of whatsoever kind or
nature,  for  or because of any matter or things done, omitted or suffered to be
done by any of the Released Parties prior to and including the date of execution
hereof,  and  in  any  way  directly  or indirectly arising out of or in any way
connected  to  this  Reaffirmation  and  Ratification  Agreement,  the June 2005
Agreements,  the September 2005 Agreements and any other document, instrument or
agreement made by any of the undersigned in favor of Laurus.

             [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.]

<PAGE>

     This  agreement  shall  be governed by and construed in accordance with the
laws of the State of New York.

                                         Very  truly  yours,

                                         NEW CENTURY ENERGY CORP.

                                         By: /s/ Edward R. DeStefano
                                            ---------------------------------
                                         Name: Edward R. DeStefano
                                              -------------------------------
                                         Title: President & CEO
                                               ------------------------------
                                         Address:  5851 San Felipe, Suite 775
                                                   Houston, TX 77057

                                         CENTURY RESOURCES, INC.

                                         By: /s/ Edward R. DeStefano
                                            ---------------------------------
                                         Name: Edward R. DeStefano
                                              -------------------------------
                                         Title: President & CEO
                                               ------------------------------
                                         Address:  5851 San Felipe, Suite 775
                                                   Houston, TX 77057
ACCEPTED  AND  AGREED  TO:

LAURUS  MASTER  FUND,  LTD.

By:/s/Scott Giordano
   ------------------------
Name: Scott Giordano
     ----------------------
Title: Escrow Agent
      ---------------------

<PAGE>

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