Document:

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EXHIBIT 10.76

                      AGREEMENT REGARDING THROUGHPUT CHARGE

                           (WPS Energy Services, Inc.)

         This Agreement Regarding Throughput Charge ("this Agreement") is made
this 26th day of August 1997, but effective January 1, 1997, by and between
Forcenergy Inc ("Force"), Stewart Petroleum Co. as debtor-in-possession in Case
No A96-00795-DMD in United States Bankruptcy Court for the District of Alaska
("SPC"), and WPS Energy Services, Inc. (formerly known as Fatherland Energy
Services, Inc.) ("WPS").

                                    RECITALS

         A. On April 4, 1994, Escopeta Oil & Gas Corporation ("EOG") and SPC
entered into the following agreements:

             a. Letter Agreement, plus exhibits thereto ("Letter Agreement");

             b. conveyance, plus exhibits thereto, recorded our July 19, 1994,
in the Anchorage Recording District, State of Alaska, in Book 2682 beginning at
Page 568;

             c. Deed of Trust, Security Agreement and Financing Statement, plus
exhibits thereto, recorded on July 19, 1994, in the Anchorage Recording
District, State of Alaska, in Book 2682 beginning at Page 425; and

             d. Uniform commercial Code Financing Statements (UCC-1), filed on
July 20, 1994, under File No 94-386154 (statewide filing), and on July 20, 1994,
(Anchorage Recording District filing).

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The above agreements are collectively referred to herein as the 'Throughput
Agreements". The Throughput Agreements define a petroleum and natural gas
pipeline located in the Anchorage Recording District of the State of Alaska,
known as the West McArthur River Pipeline ("the Pipeline"). The Pipeline was
originally constructed to transport petroleum and natural gas from reserves
underlying leases described as ADL 359111 and ADL 359112 ("the Leases") and
subject to the West McArthur River Unit ("the Unit"). Pursuant to the Throughput
Agreements, EOG acquired an interest in all volumes of hydrocarbons transported
via the Pipeline, for the life of the Pipeline, which interest was to be paid by
SPC to EOG ("the Throughput Charge") according to a schedule set forth in the
Letter Agreement. SPC's payment obligation is secured by various liens and
security interests created by the Throughput Agreements.

         B. On July 22, 1994, EOG and WPS entered into the following agreements:

             a. Purchase and Sale Agreement (Purchase and Sale Agreement");

             b. Conveyance; and

             c. Transfer of Lien and Security Interests.

The above agreements are collectively referred to herein as the "Assignment
Documents". The Assignment Documents convey from EOG to WPS a portion of the
Throughput Charge which SPC originally conveyed to EOG, and an interest in the
liens and security interests securing payment of the same. Following the
execution of the Assignment Documents, SPC paid directly to WPS the portion of
the Throughput Charge which EOG had assigned to WPS,

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         C. On September 13, 1996, an involuntary bankruptcy petition was filed
against SPC in United States Bankruptcy Court for the District of Alaska ("the
Bankruptcy Court"). This petition inaugurated Case No. A96-00795-AMA, referred
to herein as "the Bankruptcy Case." On January 24, 1997, an order for relief
under Chapter 11 of the United States Bankruptcy Code was entered in the
Bankruptcy Case. As of the date of this Agreement, the Bankruptcy Case has not
been dismissed or converted to a case under a chapter of the United States
Bankruptcy Code other than Chapter 11. As of the date of this Agreement, SPC
continues as debtor-in-possession pursuant to II U.S.C. ss.ss. 1101, 1107 and
1108.

         D. On May 6, 1997, SPC entered into a Purchase and Sale Agreement ("P/S
Agreement") with Force pursuant to which SPC was to sell and Force was to
purchase all or substantially all of the assets of SPC according to the terms
and conditions set forth therein. The Pipeline is one of the assets Force is to
acquire under the P/S Agreement. The P/S Agreement also requires Force to assume
SPC's obligation to pay the Throughput Charge, subject to Force's review of the
Throughput Agreements.

         E. On May 12, 1997, the Bankruptcy Court entered am order generally
approving the sale of SPC's assets to Force pursuant to the P/S Agreement,
specifically providing, however, that such sale was not free and clear of the
interests, claims and liens of, inter cilia, WPS, insofar as such liens, claims
and interests relate to Throughput Charge accruing from and after January 1,
1997.

         F. On May 22, 1997, the Bankruptcy Court entered an order approving
SPC's assumption of the Throughput Agreements and its assignment of the same to
Force,

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pursuant to 11 U S C ss. 365, subject to prior written consent of WPS, upon such
terms as WPS and Force shall agree. and provided that SPC cure all defaults
under the Throughput Agreements prior to or simultaneously with such assumption
and assignment.

         G. On June 5, 1997, SPC closed the sale of substantially all of its
assets to Force.

         H. WPS and Force have agreed on terms tinder which WES will consent to
assumption by SPC, and assignment by SPC to Force, of SPC's obligations and
liabilities, and SPC's right, title and interest, if any, under the Throughput
Agreements and the Assignment Documents. It is the intent of this Agreement to
set forth such terms.

         I. SPC has reviewed this Agreement and, pursuant to 11 U.S.C. ss. 365,
is willing to assume the Throughput Agreements and the Assignment Documents and
to assign its obligations and liabilities, and its right, title and interest, if
any, under the Throughput Agreements and the Assignment Documents, to Force, as
provided in this Agreement.

         WHEREFORE, in consideration of the mutual covenants exchanged below,
and for other good and valuable consideration, the parties agree as follows:

                                    COVENANTS

         1. SPC'S ASSUMPTION AND ASSIGNMENT TO FORCE AND CURE OF DEFAULTS.
Pursuant to 11 U.S.C. ss. 365 and the Bankruptcy Court's order of May 22, 1997,
referenced in Recital F of this Agreement, SPC hereby assumes and assigns to
Force its obligations

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and liabilities, and its right, title and interest, if any, under the Throughput
Agreements and the Assignment Documents. SPC hereby agrees to pay to WPS as
partial cure of defaults under the Throughput Agreements and the Assignment
Documents the sum of $23,765 toward the Throughput Charge accrued prior to the
commencement of the Bankruptcy Case and the sum of $11A43 toward the Throughput
Charge accrued between the commencement of the Bankruptcy Case and December 31,
1996. These payments shall be made to WPS no later than ten days following the
date of thin Agreement.

         2. WPS'S ACCEPTANCE OF PARTIAL CURE AND CONSENT TO ASSIGNMENT,
AMENDMENT RESTATEMENT AND REPLACEMENT OF THROUGHPUT AGREEMENTS AND ASSIGNMENT
DOCUMENTS. WPS hereby accepts payment by SPC of the sums specified in the
preceding Covenant 1 of this Agreement as partial cure of defaults under the
Throughput Agreements and the Assignment Documents, and in consideration of the
same consents to assumption by SPC of the Throughput Agreements and the
Assignment Documents, and to assignment by SPC of the Throughput Agreements and
the Assignment Documents to Force, on the terms and conditions set forth in this
Agreement, provided however, that as to Force the Throughput Agreements and the
Assignment Documents shall be amended, restated and (if applicable) replaced by
the terms and conditions set forth in this Agreement WPS's acceptance of partial
cure from SPC does not constitute a waiver or withdrawal of WPS's claims against
the bankruptcy estate of SPC for all Throughput Charge owed to WPS which accrued
under the Throughput Agreements and the Assignment Documents prior to and
including December 31, 1996. WPS agrees that SPC's partial cure, as provided in

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this Agreement, shall be credited to WPS's claims against the bankruptcy estate
of SPC, and WPS agrees' that, conditioned mum the execution of this Agreement by
SPC and Force, WPS releases the bankruptcy estate of SPC from all claims for
Throughput Charge under the Throughput Agreement and the Assignment Documents
accruing from and after January 1, 1997. Notwithstanding anything contained
herein to the contrary, (a) neither the prior defaults by SW under the
Throughput Agreements and Assignment Documents nor the failure of SPC to make
the payment specified in the preceding Covenant 1 shall affect in any way the
rights of Force as an assignee of SK under the Throughput Agreements and
Assignment Documents, and (b) Force shall not be liable to WPS for any
obligations or liabilities of SPC under the Throughput Agreements and the
Assignment Documents except for the period from and after January I, 1997, and
then only to the extent provided for herein.

         3. PAYMENT OF THROUGHPUT CHARGE BY FORCE. Force shall pay the
Throughput Charge to WPS on all volumes, including crude oil, condensate and
associated and non-associated gas, transported through the Pipeline from and
after January 1, 1997, for the life of the Pipeline, as follows: on oil and
condensate, 3 1/2 cents per barrel, and on associated and non-associated gas,
one and one-half (1 1/2) cent per mcf. It is specifically agreed that Force
shall pay the Throughput Charge in accordance with the provisions of Section 1
of the Purchase and Sale Agreement on all volumes transported via the Pipeline,
regardless of origin or ownership of said volumes.

         4. DEDICATION OF RESERVES. Force hereby dedicates for transporting
through the Pipeline, subject to the Throughput Charge, and herewith agrees to
transport through

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the Pipeline when produced, and to pay to WPS the Throughput Charge due thereon,
all reserves of chide oil, condensate and associated and non-associated gas
underlying the lands covered by the Lanes, excepting from such dedication and
agreement to transport only hydrocarbons in such reserves, if any, which are
produced from wells drilled from offshore platform locations. Except as stated
in this paragraph of this Agreement Force shall not be obliged to dedicate any
other reserves for transporting through the Pipeline, or to transport through
the Pipeline any production from any lease, field or reservoir, except as stated
in this paragraph of this Agreement, but if production from any such non-
dedicated reserves is transported through the Pipeline, Force shall pay the
Throughput Charge due thereon in accordance with Section 1 of the Purchase and
Sale Agreement and Section 3 of this Agreement

         5. PRESERVATION AND LIMITATION OF WPS's INTERESTS AND LIENS. The
interest created by the Letter Agreement and the Conveyance and the liens and
security interests created by the Deed of Trust and the Security Agreement, and
assigned in part to WPS by the Assignment Documents, are hereby ratified and
confirmed by Force, and the same remain in full force and effect, except that
such liens and security interests shall not be used by WPS to secure or enforce
any obligation incurred prior to January 1, 1997, pursuant to the Throughput
Agreements or the Assignment Documents. Provided, however, the foregoing
provision shall not limit WPS's right to assert a secured claim against SPC in
the Bankruptcy Case for payment of Throughput Fees on volumes transported via
the Pipeline prior to January 1, 1997, to the extent that such claim is not
satisfied by amounts paid to WPS by SPC is partial cure of defaults, as provided
in

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Covenant 1 of this Agreement; provided, further, such secured claim may not be
asserted against the Pipeline or any of the other assets of SPC acquired by
Force pursuant to the P/S Agreement.

         6. ASSIGNMENT. In the event that Force conveys or assigns all of its
interest in the Leases and the Pipeline, it shall have the right to assign all,
but not less than all, of its interest in and duties under the Throughput
Agreements, the Assignment Documents, and this Agreement to the same assignee to
which it assigns its interest in the Leases and the Pipeline, provided that such
assignee expressly assumes all duties and obligations to WPS under the
Throughput Agreements, the Assignment Documents and this Agreement, and provided
WPS gives its prior written consent to such assignment, which consent shall not
be unreasonably withheld. Upon Force's assignment of its interests in and duties
under the Throughput Agreements, the Assignment Documents, and this Agreement
pursuant to this paragraph of this Agreement, Force shall be released from all
liability under the Throughput Agreements, the Assignment Documents, and this
Agreement.

         7. WARRANTIES. WPS hereby represents and warrants to Force that (a) the
Throughput Agreements and the Assignment Documents arc the only agreement
between and among WPS, EOG and SPC related to the matters described therein, and
(b) WPS has good and valid title under the Throughput Agreements and the
Assignment Documents to a Throughput Charge of at least 3 1/2 cents per barrel
of oil and condensate transported through the Pipeline, and of at least one and
one-half (1 1/2) cents per mcf on associated and non-associated gas transported
through the Pipeline. Force hereby

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represents and warrants to WPS that Force has acquired SPC'c title to the
Pipeline and that it has good right and authority to enter into this Agreement

         8. ACCESS AND AUDIT. Farce specifically affirms and agrees to be bound,
with respect to WPS, by the access and audit requirements set forth in Section 4
of the Letter Agreement.

         9. INAPPLICABLE SECTIONS OF LETTER AGREEMENT. WPS acknowledges Sections
3, 5 and 6 of the Letter Agreement have no application to Fong. Force does not
assume and is not liable for the obligations of SPC under such sections.

         10. CONFIDENTIALITY. The patties agree that the terms of this Agreement
shall be kept confidential, except that a copy of this Agreement may be provided
to counsel for SPC, and this Agreement or the mans hereof may be revealed by
either party in any proceeding in any court of competent jurisdiction wherein a
matter pertaining to such party's interest in this Agreement is being
adjudicated.

         11. GOVERNING LAW; VENUE. This Agreement shall be construed and
enforced according to the laws of Alaska. Sole venue for any law suit or
proceeding of any nature based upon or arising from this Agreement shall be in
the crams of Alaska, Third Judicial District at Anchorage.

         12. FURTHER ASSURANCES. The parties pledge mutual good faith and
cooperation in taking any other or further acts, including the execution of
documents, instruments and court pleadings, which at any time appear reasonably
necessary for the other party to this Agreement to receive, perfect or preserve
a benefit intended by this Agreement for such party to receive.

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         13. ADDRESSES FOR NOTICE. Notices or demands relating to the Throughput
Agreements or this Agreement shall be addressed as follows:

                   Forcenergy Inc
                   2720 SW 3rd Avenue
                   Suite 800
                   Miami, FL 33129-2237
                   Attn: President.
                   Facsimile: 305-256-4300
                   Telephone: 305-8S6-8500

                   WPS Energy Services, Inc.
                   677 Baeten Road
                   Green Bay, WI 54304
                   Attn: John Kilsdonk
                   Facsimile: 414-496-9399
                   Telephone: 414-496-9000

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                                        FORCENERGY INC

                                        By: /s/ Thomas Getten
                                            -------------------------------
                                        Its: Vice President

                                        STEWART PETROLEUM CO.,
                                        Debtor in Possession

                                        By: /s/ signature
                                            -------------------------------
                                        Its: CEO

                                        WPS ENERGY SERVICES, INC.

                                        By: /s/ signature
                                            -------------------------------
                                        Its: Vice President

                                       11<PAGE>

EXHIBIT 10.77

                              ASSET SALES AGREEMENT

     This Asset Sales Agreement (the "Agreement"), dated the 14th day of
February, 2007, is by and between FOREST ALASKA OPERATING LLC, a Delaware
limited liability company ("Seller") on the one hand, and PIONEER NATURAL
RESOURCES ALASKA, INC., a Delaware corporation ("Buyer") on the other hand.

     In consideration of the mutual promises herein stated and the benefits to
be derived to each party under this Agreement and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Seller and Buyer hereby agree as follows:

     1. Sale and Purchase. Seller agrees to sell and convey to Buyer and Buyer
agrees to purchase and receive, on and subject to the terms, provisions and
conditions hereof, the Assets. Seller and Buyer each acknowledge that the sale
of assets documented hereby is being made pursuant to the exercise of Buyer of a
preferential right to purchase, which election was made in the correspondence
attached hereto as Annex I.

     2. The Assets. For purposes of this Agreement, the Assets shall mean those
certain rights and interests set forth in Exhibit "A", attached hereto and made
a part hereof for all purposes, in and to:

          (a) the undivided interests in the leases, licenses, permits, farmouts
     and other agreements and documents described in Exhibit "A", together with
     identical undivided interests in and to all of the property and rights
     incident thereto, including all rights in, to and under all agreements
     covering said leases and lands insofar as and to the extent that they cover
     and relate to the lands described or referred to in Exhibit "A" and to the
     extent same are valid, subsisting and enforceable, with the exception of
     the overriding royalty interest described on Exhibit "B", that shall be
     retained by Seller (the "ORRI");

          (b) to the extent they cover and relate to the lands described or
     referred to on Exhibit "A", all personal property, fixtures and
     improvements now located on, appurtenant to or used or obtained in
     connection with the interests described in Section 2(a) above, or with the
     production, treatment, sale or disposal of hydrocarbons produced therefrom
     or attributable thereto; and

          (c) to the extent they cover and relate to the lands described or
     referred to on Exhibit "A", all other rights or other interests if any
     owned by Seller and held or used in connection with the interests described
     in Section 2(a) above.

     3. Consideration. The consideration for the Interests to be transferred at
Closing shall be:

          (a) the cash payment from Buyer to Seller at Closing in the amount of
     One Million Five Hundred Thousand Dollars ($1,500,000.00) ("Purchase
     Price"), which amount shall be adjusted as provided in Section 5 below; and

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          (b) THIS SECTION INTENTIONALLY LEFT BLANK;

          (c) the assumption by Buyer of the obligations, liabilities and costs
     with respect to the Interests from and after the Effective Date, subject to
     the further provisions hereof.

     4. Effective Date. The "Effective Date" of the sale shall be as of 7:00
     a.m., January 1, 2007.

     5. Allocation of Liability and Adjustments to Consideration.

          (a) The transactions contemplated hereby shall be effective as of the
     Effective Date, and the ownership of the Assets shall be transferred from
     Seller to Buyer as of such date.

          (b) The Purchase Price to be paid by Buyer to Seller for the Assets
     shall be adjusted as follows:

               (i) upward by an amount equal to all costs and expenses incurred
          and paid by Seller attributable to the ongoing operation, development
          and maintenance of the Assets (including without limitation lease
          operating expenses and workover and other capital costs that are
          charged pursuant to the applicable operating agreements governing the
          Assets) for the period of time on and after the Effective Date to the
          date of Closing, provided however, there shall be no adjustment for
          capital expenditures between the Effective Date and Closing unless
          Seller has notified Buyer of such expenditures; and,

               (ii) downward by an amount equal to all proceeds and revenues
          received by Seller that are attributable to the Assets for the period
          of time on and after the Effective Date to the date of Closing,
          including proceeds or receipts from the sale of oil or gas production,
          disposition of equipment or other revenues attributable to the Assets.

          (c) An estimate of the adjusted cash payment (the "Preliminary Sum")
     shall be determined by Seller at Closing and shall be the basis for the
     payment to be made by Buyer to Seller at Closing as provided in Section 6
     below. Following Closing, Seller shall prepare a final statement
     ("Settlement Statement") setting forth all final adjustments to the cash
     portion of the consideration, and Seller shall deliver such statement, with
     such other information as may be necessary to substantiate the Settlement
     Statement, to Buyer within 90 days after Closing. If the Settlement
     Statement reflects that the final adjusted cash portion of the
     consideration is more than the Preliminary Sum, Buyer shall pay to Seller,
     within 15 days after the receipt of the Settlement Statement, the
     difference between the final adjusted cash amount and the Preliminary Sum;
     and if the final adjusted amount is less than the Preliminary Sum, Seller
     shall pay to Buyer, within 15 days after the delivery of the final
     Settlement Statement, an amount equal to such difference.

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          (d) Subject to the terms hereof and except to the extent same have
     already been taken into account as an adjustment to the Purchase Price, all
     monies, proceeds, receipts, credits and income attributable to the
     ownership and operation of the Assets (a) for all periods of time from and
     subsequent to the Effective Date, shall be the sole property and
     entitlement of Buyer, and to the extent received by Seller, Seller shall
     within ten (10) business days after such receipt, fully disclose, account
     for and transmit same to Buyer and (b) for all periods of time prior to the
     Effective Date, shall be the sole property and entitlement of Seller and,
     to the extent received by Buyer, Buyer shall fully disclose, account for
     and transmit same to Seller within ten (10) business days after such
     receipt. Subject to the terms hereof and except to the extent same have
     already been taken into account as an adjustment to the Purchase Price, all
     costs, expenses, disbursements, obligations and liabilities attributable to
     the Assets (i) for periods of time prior to the Effective Date, regardless
     of when due or payable, shall be the sole obligation of Seller and Seller
     shall promptly pay, or if paid by Buyer, promptly reimburse Buyer for and
     hold Buyer harmless from and against same and (ii) for periods of time from
     and subsequent to the Effective Date, regardless of when due or payable,
     shall be the sole obligation of Buyer and Buyer shall promptly pay, or if
     paid by Seller, promptly reimburse Seller for and hold Seller harmless from
     and against same.

     6. Closing or Termination.

          (a) The closing of the transactions contemplated hereby (the
     "Closing") shall occur at the office of Seller in Denver, Colorado or such
     other place as the parties shall mutually agree in writing on February 16,
     2007. At the Closing, the following shall occur:

               (i) Buyer shall deliver to the Seller the Preliminary Sum.

               (ii) Seller shall deliver an assignment of the Assets to Buyer on
          a form reasonably satisfactory to Seller and Buyer whereby Seller
          warrants the title to the Assets covered by this Agreement by, through
          and under it, but not otherwise, subject to the remaining provisions
          hereof.

               (iii) Buyer and Seller shall execute an Overriding Royalty
          Agreement defining the terms of the ORRI.

               (iv) Buyer shall deliver to Seller evidence that all state and
          local bonding requirements for the assumption of working interest have
          been satisfied.

     7. THIS SECTION INTENTIONALLY LEFT BLANK

     8. Title.

     8.1 Review of Title Records. Seller has made and shall continue to make
     available to

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     Buyer, during reasonable business hours, records in Seller's possession
     relating to the title to the Assets. Buyer shall be entitled to review said
     title records. Buyer shall have the right to reasonably request copies of
     any and all such title records and upon such request, Seller shall provide
     the requested copies to Buyer at Buyer's expense.

     8.2 Alleged Title Defects. As soon as reasonably practicable (and on an
     ongoing basis), but in no event later than three (3) business days prior to
     Closing, Buyer shall notify Seller of any Assets which are subject to
     Alleged Title Defect(s). As used herein, Alleged Title Defect shall mean a
     deficiency in title with respect to an Interest such that Seller owns less
     than the Net Revenue Interest shown on Exhibit A or such that Seller owns
     more than the Working Interest shown on Exhibit A without a corresponding
     increase in the Net Revenue Interest. Buyer's notice asserting Alleged
     Title Defect(s) shall include a description and full explanation (including
     any and all supporting documentation associated therewith) of each Alleged
     Title Defect being claimed and a value which Buyer in good faith attributes
     to curing the same. Seller shall have the right to notify Buyer of any
     increases in Net Revenue Interest or decreases in Working Interest in the
     Assets and request a corresponding adjustment. Buyer and Seller shall meet
     from time to time as necessary in an attempt to mutually agree on a
     proposed resolution with respect to the Alleged Title Defect(s) raised by
     Buyer and increases in Net Revenue Interest or decreases in Working
     Interest raised by Seller. It is recognized that good faith differences of
     opinion may exist between Buyer and Seller in connection with the Alleged
     Title Defect(s) raised by Buyer and adjustments to the Net Revenue
     Interests or Working Interests raised by Seller, including without
     limitation, disputes as to: (a) whether or not the alleged defect
     constitutes an Alleged Title Defect within the meaning of this Agreement,
     (b) whether or not the Alleged Title Defect raised by Buyer was properly
     and timely asserted by Buyer pursuant to this Article, or (c) the
     appropriate upward or downward adjustment, if any, on account of a change
     in the Net Revenue Interest or Working Interest from those set forth in
     Exhibit "A". If any such differences of opinion are not resolved by mutual
     agreement of Buyer and Seller, either party shall have the right,
     exercisable prior to Closing, to submit all information relating to the
     Alleged Title Defect to a mutually agreeable attorney licensed in the state
     where the property at issue is located and who shall have at least ten (10)
     years oil and gas title experience for resolution of the difference of
     opinion. If such dispute is not resolved prior to Closing, Closing shall
     proceed on the basis of Seller's valuation, subject to an obligation to
     refund any amount, determined under the process outlined above, of any
     Title Defect that has been so determined.

     8.3 Waiver. All title objections not raised within the time period provided
     in Article 8.2 shall be waived by Buyer for all purposes.

     9. Indemnification. Buyer shall assume full responsibility for the Assets
on and after the Effective Date and shall fully defend, compensate, protect,
indemnify and hold Seller, its officers, directors, employees and agents,
harmless from and against any and all losses, claims, demands, damages, suits,
expenses, causes of action, and any sanctions of every kind and character
(including reasonable attorneys' fees, court costs, and costs of investigation)
which may

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be made or asserted by Buyer, Buyer's assigns, Buyer's employees, agents,
contractors, and subcontractors and employees thereof, or by any third parties
(including governmental agencies) on account of personal injury, death or
property damage (including claims for taxes, pollution, environmental damage,
and regulatory compliance, any fines or penalties assessed on account of such
damage, and causes of action alleging statutory liability) caused by, arising
out of, or in any way incidental to operations conducted on the Assets on and
after the Effective Date or in any way connected with the conditions of the
equipment or facilities located on the Assets (including maintenance, repair and
abandonment operations), and whether or not such losses, claims, demands, suits,
causes of action, damages and sanctions are occasioned by, are incident to or
are the result of the negligence or fault in whole or in part of Seller, its
agents, representatives or employees or any other person or entity, or are
occasioned by, are incident to or emanate from the unseaworthiness of vessels or
alleged defects in lease equipment, facilities or pipelines; except however this
indemnity shall not apply to losses sustained or liabilities arising out of
Seller's gross negligence or willful misconduct.

     For a period of six (6) months after the Effective Date, Seller shall fully
defend, compensate, protect, indemnify and hold Buyer, its officers, directors,
employees and agents, harmless from and against any and all losses, claims,
demands, damages, suits, expenses, causes of action, and any sanctions of every
kind and character (including reasonable attorneys' fees, court costs, and costs
of investigation) which may be made or asserted by Seller, Seller's assignors,
Seller's employees, agents, contractors, and subcontractors and employees
thereof, or by any third parties (including governmental agencies) on account of
personal injury, death or property damage (including claims for taxes,
environmental damage, and regulatory compliance, any fines or penalties assessed
on account of such damage or regulatory non-compliance, and causes of action
alleging statutory liability) caused by, arising out of, or in any way
incidental to operations conducted on the Assets before the Effective Date, and
whether or not such losses, claims, demands, suits, causes of action, damages
and sanctions are occasioned by, are incident to or are the result of the
negligence or fault in whole or in part of Buyer, its agents, representatives or
employees or any other person or entity; except however this indemnity shall not
apply to losses sustained or liabilities arising out of Buyer's gross negligence
or willful misconduct.

     Production activities can result in the concentration of certain levels of
naturally occurring radioactive material ("NORM") on production equipment and
pipe so that, when brought to the surface, a health hazard may exist in
connection with the removal, handling or disposal of such NORM-contaminated
equipment or pipe, if proper environmental, regulatory and industrial hygiene
procedures are not observed. The presence of NORM in or on facilities or
equipment on the Assets on and after the Effective Date shall be the sole
responsibility of Buyer, and Buyer shall indemnify and hold Seller harmless from
and against any and all claims, losses, damages or liabilities arising from the
presence of or in connection with the purchase, use, resale removal, handling or
disposal of NORM-contaminated equipment or pipe sold under this agreement. Such
indemnity shall apply without exception, and regardless of whether the claims,
losses, damages or liabilities arise in whole or in part from the negligence
(whether or not concurrent) of Seller or any other person or entity.

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     10. Representations and Warranties.

          10.1 Seller's Representations and Warranties. Seller represents and
warrants to Buyer as of the date of this Agreement and as of the Closing Date as
follows:

               (a) Organization, Standing and Power. Seller is a limited
liability company duly organized, validly existing and in good standing under
the laws of the state of New York and has all requisite corporate power and
authority to own, lease and operate its properties and to carry on its business
as now being conducted. Seller is duly qualified to carry on its business and in
good standing in the State of Alaska.

               (b) Authority and Enforceability. The execution and delivery by
Seller of this Agreement, and the consummation of the transactions contemplated
hereby, have been duly and validly authorized by all necessary corporate action,
on the part of Seller. This Agreement is, and every instrument, document, or
agreement to be executed hereunder to consummate the transactions contemplated
hereby will be, a valid and legally binding obligation of Seller, enforceable
against Seller in accordance with its terms, subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and similar laws of general
applicability and to general equity principles. Neither the execution and
delivery by Seller of this Agreement nor the consummation of the transactions
contemplated hereby, nor compliance by Seller with any of the provisions hereof,
will:

     (i) conflict with or result in a breach of any provision of Seller's
constituent documents;

     (ii) except with respect to those matters discussed in Article 7 above,
result in a material default (with due notice or lapse of time or both) or give
rise to any right of termination, cancellation or acceleration under any of the
terms, conditions or provisions of any note, bond, mortgage, indenture, license
or agreement to which Seller is a party or by which Seller or any of Seller's
properties or assets may be bound or create or impose any lien or other
encumbrance upon any of Seller's properties or assets; or

     (iii) violate any order, writ, injunction, judgment, decree, statute, rule
or regulation applicable to any Seller, or any Seller's properties or assets,
assuming receipt of all routine governmental consents normally acquired after
the consummation of transactions such as transactions of the nature contemplated
by this Agreement.

               (c) Claims Affecting the Assets. To Seller's Knowledge, there is
no suit, action, claim, notice of violation, investigation or inquiry either
pending or threatened, by any person or entity or by any administrative agency
or governmental body and no legal, administrative or arbitration proceeding
pending or threatened against or affecting the Assets.

               (d) Claims Affecting the Sale. To Seller's Knowledge, there is no
suit, action, claim, notice of violation, investigation or inquiry either
pending or threatened, by any person or entity or by any administrative agency
or governmental body and no legal, administrative or arbitration proceeding
pending or threatened against Seller or any Affiliate of Seller which has
affected or could affect Seller's ability to execute and deliver this Agreement
or to consummate the transactions contemplated by this Agreement. In this
Agreement, "Affiliate" means any person or entity which controls, is controlled
by or is under common control with, the subject person or entity with the terms
"control," "controlled by" and "under common control"

                                        6

<page>

meaning the possession, directly or indirectly, of the power to direct or cause
the direction of management or policies (whether through ownership of securities
or any partnership or other ownership interest, by contract or otherwise) of a
person. For the purposes of the preceding sentence, control shall be deemed to
exist when a person possesses, directly or indirectly, through one or more
intermediaries (i) in the case of a corporation, more than 50% of the
outstanding voting securities thereof; (ii) in the case of a limited liability
company, partnership, limited partnership or venture, the right to more than 50%
of the distributions therefrom (including liquidating distributions); or (iii)
in the case of any other person, more than 50% of the economic or beneficial
interest therein.

               (e) No Demands. Seller has received no notice of any claimed
defaults, offsets or cancellations relating to the Assets, and Seller has no
Knowledge of the existence of any default existing with respect to any of the
Assets or Related Agreements

               (f) Taxes.

     (i) There are no tax liens upon any of the Assets.

     (ii) Seller has not entered into any material agreement or arrangement with
any taxing authority with respect to the Assets that requires Buyer to take any
action or to refrain from taking any action with respect to the Assets after the
Closing Date.

               (g) Oil and Gas Leases. To the Knowledge of Seller:

     (i) The oil and gas leases included in the Assets have been maintained
according to their terms, in compliance with the agreements to which the oil and
gas leases are subject; and

     (ii) The oil and gas leases included in the Assets are presently in full
force and effect.

               (h) Non-Foreign Representation. Seller is not a "foreign person"
within the meaning of Section 1445 of the Internal Revenue Code of 1986, as
amended (the "Code") and the Treasury Regulations thereunder.

               (i) Commitments for Expenditures.

     (i) There are no outstanding authorizations for expenditure (AFEs) which
Seller has received from a third party operator or has delivered to third
parties, but in either case have not been responded to prior to the date of this
Agreement; and

     (ii) Seller has not abandoned any wells (or removed any material items of
equipment, except those replaced by items of materially equal suitability)
included in the Assets since the Effective Date.

               (j) Production Sales Contracts. There exist no agreements or
arrangements for the sale of production from the oil and gas leases, lands, or
wells (including calls on, or other rights to purchase, production, whether or
not the same are currently being exercised) other than any agreements or
arrangements which are cancelable on 90 days notice or less without penalty or
detriment; and Seller is not, and to Seller' Knowledge, no other party is in
breach of any such agreement or arrangement.

               (k) Compliance with Laws.

     (i) To the Knowledge of Seller, the ownership and operation of the Assets
has been in

                                        7

<page>

conformity, in all material respects, with all applicable laws, rules,
regulations, guidelines and orders of all governmental agencies having
jurisdiction over the Assets, including the timely plugging and abandonment of
wells;

     (ii) To the Knowledge of Seller, the Assets are not in violation of (or
subject to) any existing, pending or, threatened, judicial, administrative or
arbitral judgment, proceeding or any non-routine investigation or inquiry by any
governmental authority.

               (l) Related Agreements. The Assets are subject to the provisions
of various agreements identified on Exhibit "C" hereto (the "Related
Agreements"). If the transactions contemplated hereby are consummated in
accordance with the terms and provisions hereof, Buyer shall perform all the
obligations attributable to the Assets under the Related Agreements to the
extent such obligations are attributable to any period of time after the date of
Closing.

               (m) Governmental Permits. Seller has all governmental licenses,
filings and permits (including, without limitation, permits, licenses, approval
registrations, notifications, exemptions and any other authorizations pursuant
to Applicable Environmental Laws) necessary or appropriate to own and operate
the Assets as presently being owned and operated, and such licenses, filings and
permits are in full force and effect, and Seller has not received written notice
of any violations in respect of any such licenses or permits, in any case,
except where such fact could not be reasonably expected to result in a material
adverse effect on Buyer's ability to own and use the Assets.

               (n) State of Repair. To the Seller's Knowledge, the Assets have
been maintained in a state of repair so as to be reasonably adequate for normal
operations.

               (o) No Oral Contracts. To the Knowledge of Seller, Seller has not
entered into any oral contract with respect to the Assets.

               (p) Tax Partnership. Properties included in the Cosmopolitan Unit
are held in an arrangement treated as a tax partnership under terms of the Unit
Operating Agreement. No other oil and gas lease, land, wells, or other Asset is
held in an entity or arrangement treated as a tax partnership for tax purposes.
The Cosmopolitan tax partnership has made an election under Section 754 of the
Code, which election has not been revoked to Seller's Knowledge.

As used throughout this Section 10.1, "Knowledge", with respect to Seller, shall
refer to the actual knowledge of Julie Dawson, Leonard Gurule, James Arlington,
Matthew A. Wurtzbacher, Glen Mizenko, Rick Schelin, and Bob Elder.

          10.2 Buyer's Representations and Warranties. Buyer represents and
warrants to Seller as of the date of this Agreement and of the Closing Date
follows:

               (a) Organization, Standing and Power. Buyer is a corporation duly
organized, validly existing and in good standing under the laws of the state of
Delaware and has all requisite power and authority to own, lease and operate its
properties and to carry on its business as now being conducted. At Closing,
Buyer will be duly qualified to carry on its business and in good standing in
the State of Alaska.

                                        8

<page>

               (b) Authority and Enforceability. The execution and delivery by
Buyer of this Agreement, and the consummation of the transactions contemplated
hereby, have been duly and validly authorized by all necessary corporate action
on the part of Buyer. This Agreement is, and every instrument, document, or
agreement to be executed hereunder to consummate the transactions contemplated
hereby will constitute the valid and legally binding obligation of Buyer,
enforceable against Buyer in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of
general applicability and to general equity principles. Neither the execution
and delivery by Buyer of this Agreement nor the consummation of the transactions
contemplated hereby, nor compliance by Buyer with any of the provisions hereof,
will:

          (i) conflict with or result in a breach of any provision of its
certificate of formation or bylaws;

          (ii) result in a material default (with due notice or lapse of time or
both) or give rise to any right of termination, cancellation or acceleration
under any of the terms, conditions or provisions of any note, bond, mortgage,
indenture, license or agreement to which Buyer is a party or by which it or any
of its properties or assets may be bound; or

          (iii) violate any order, writ, injunction, judgment, decree, statute,
rule or regulation applicable to Buyer, or any of its properties or assets,
assuming receipt of all routine governmental consents normally acquired after
the consummation of transactions such as transactions of the nature contemplated
by this Agreement.

               (c) Independent Evaluation; Permitted Investment. Buyer is
knowledgeable and experienced in the evaluation, acquisition and operation of
oil and gas properties. Prior to the execution of this Agreement, Buyer has been
afforded the opportunity to examine the records at Seller's offices in Denver
with respect to the Assets, including the opportunity to ask questions of the
Seller. Except as set forth in this Agreement, Buyer acknowledges that Seller
has made no representations or warranties as to the accuracy or completeness of
such information, and, in entering into and performing this Agreement, Buyer has
relied and will rely solely upon its independent investigation of, and upon its
own knowledge and experience and that of its advisors' with respect to, the
Assets and their value.

               (d) Suits Affecting the Sale. There is no suit, action, claim,
notice of violation, investigation or inquiry either pending or to Buyer's
knowledge, threatened, by any person or entity or by any administrative agency
or governmental body and no legal, administrative or arbitration proceeding
pending or, to Buyer's knowledge, threatened against Buyer or any Affiliate of
Buyer which has affected or could materially affect Buyer's ability to
consummate the transactions contemplated by this Agreement

               (e) Eligibility. The Buyer is (or will be as of Closing)
qualified under all applicable laws and regulations to own the Assets,
including, without limitation, the oil and gas leases.

               (f) Financing; Authorized Capital. Buyer will have the financial
ability as is necessary to fulfill the obligations of this Agreement (as
evidenced by financing commitment letters from an institution satisfactory to
Seller delivered to Seller upon execution of this Agreement), at Closing will
have the necessary immediately available funds to fulfill said

                                        9

<page>

obligations, and Closing of the transaction is not contingent upon obtaining
financing.

     11. Information. Seller shall make available to Buyer at Seller's office
for such inspection and copying as Buyer deems pertinent certain records and
information in Seller's possession which pertain to the Assets. Such books and
records include, but are not limited to, engineering, geological, and production
data related to the Assets, and all ownership records and title opinions.

     To the best of its knowledge, Seller has furnished accurate information;
however, Seller does not in any way represent or warrant that such information
is complete, accurate or correct. Any reliance on information furnished herewith
shall be at Buyer's sole risk and expense.

     12. Prepaid Expenses. Ad valorem and similar taxes, paid utilities charges,
prepaid rentals and ail other pre-paids shall be prorated between Buyer and
Seller, as of the Effective Date.

     13. Costs Borne by Buyer. Except as otherwise provided herein, any and all
costs associated with the assignment of the Assets, as provided for in the
respective leases, or otherwise, shall be borne solely by Buyer including, but
not limited to plugging and abandoning all wells and pits whether or not the
obligations therefore arose prior to the Effective Date. Buyer shall be solely
responsible for all filing and recording of documents related to the property
and for all fees in connection therewith. Buyer shall furnish Seller with a
certified copy of the recorded and approved assignments.

     14. Notice of Litigation or Changes in Fact. To Seller's knowledge, there
are no existing claims, lawsuits, or investigations pending or threatened
affecting the Assets as of the Closing Date.

     15. Miscellaneous.

          (a) Neither this Agreement nor any of the rights or obligations
     hereunder nor any of the Assets may be assigned by Buyer without the prior
     written consent of Seller.

          (b) All proprietary information and data furnished to Buyer hereunder
     shall be kept confidential by Buyer. Furthermore, Buyer shall not, without
     first notifying Seller, issue any press releases or make public
     announcements regarding the provisions of this Agreement. This restriction
     shall not apply to the filing of reports required by any regulatory agency
     in the normal course of business.

          (c) THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF
     COLORADO AND SHALL BE SUBJECT TO ALL APPLICABLE STATE AND FEDERAL LAWS,
     RULES AND REGULATIONS OF PUBLIC BODIES HAVING JURISDICTION OVER THE ASSETS.
     IN THE EVENT ANY PROVISION OF THIS AGREEMENT IS, OR THE OPERATIONS
     CONTEMPLATED HEREBY ARE FOUND TO BE, INCONSISTENT WITH OR CONTRARY TO ANY
     SUCH LAWS, RULES, OR

                                       10

<page>

     REGULATIONS, THE LATTER SHALL BE DEEMED TO CONTROL. THEREAFTER, THIS
     AGREEMENT SHALL BE REGARDED AS MODIFIED ACCORDINGLY, AND, AS SO MODIFIED,
     SHALL CONTINUE IN FULL FORCE AND EFFECT.

          (d) Subject to the provisions of this Agreement, this Agreement shall
     be binding upon and shall inure to the benefit of the parties hereto and
     their respective successors and assigns.

          (e) This Agreement constitutes the entire agreement between the
     parties and supersedes any and all other written or oral agreements or
     understandings between the parties concerning the subject matter hereof. No
     modification or amendment of the terms and provisions of this Agreement
     shall be effective unless in writing and signed by the party against whom
     enforcement is sought.

          (f) The headings of sections of this Agreement are inserted for
     convenience only and shall not be deemed to constitute a part hereof.

          (g) Buyer represents and warrants that: (i) it is an experienced and
     knowledgeable investor in the oil and gas business, (ii) prior to entering
     into this Agreement, Buyer was advised by and has relied solely on its own
     legal, tax, and other professional counsel concerning this Agreement, the
     Assets and the value thereof, and (iii) that it is purchasing the Assets
     for its own account or that it will sell or subdivide any interest in the
     Assets only in a manner consistent with the applicable registration and
     disclosure requirements of all applicable securities laws.

          (h) Buyer shall comply with all applicable laws, ordinances, rules and
     regulations and shall promptly obtain and maintain all permits required by
     public authorities in connection with the property purchased.

          (i) It is expressly agreed to that in no event shall Buyer contact
     Seller's co-owners in the Assets, regarding this Agreement, prior to the
     closing without the express consent of Seller.

          (j) The parties agree to execute such additional instruments,
     agreements, or documents as may be necessary to effectuate the intentions
     of this Agreement.

          (k) This Agreement may be executed in multiple counterparts each of
     which will constitute an original and all of which, taken together, shall
     be one Agreement.

          (l) Buyer will use its reasonable good efforts and good faith to take
     all actions and to do all things necessary or advisable in order to
     consummate and make effective the transactions contemplated by this
     Agreement.

                                       11

<page>

          (m) Except as otherwise expressly provided in Article 6 above, BUYER
     ACKNOWLEDGES THAT SELLER HAS NOT MADE, AND SELLER HEREBY EXPRESSLY
     DISCLAIMS AND NEGATES, ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED,
     RELATING TO THE CONDITION OF ANY IMMOVABLE PROPERTY, MOVABLE PROPERTY,
     EQUIPMENT, INVENTORY, MACHINERY, FIXTURES AND PERSONAL PROPERTY
     CONSTITUTING PART OF THE ASSETS (INCLUDING, WITHOUT LIMITATION, (i) ANY
     IMPLIED OR EXPRESSED WARRANTY OF MERCHANTABILITY, (ii) ANY IMPLIED OR
     EXPRESSED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, (iii) ANY IMPLIED
     OR EXPRESSED WARRANTY OF CONFORMITY TO MODELS OR SAMPLES OF MATERIALS, (iv)
     ANY RIGHTS OF BUYER UNDER APPROPRIATE STATUTES TO CLAIM DIMINUTION OF
     CONSIDERATION OR RETURN OF THE PURCHASE PRICE, AND (v) ANY IMPLIED OR
     EXPRESSED WARRANTY REGARDING ENVIRONMENTAL LAWS, THE RELEASE OF MATERIALS
     INTO THE ENVIRONMENT OR PROTECTION OF THE ENVIRONMENT OR HEALTH). IT BEING
     THE EXPRESS INTENTION OF BUYER AND SELLER THAT (EXCEPT TO THE EXTENT
     EXPRESSLY PROVIDED IN ARTICLE 6) THE IMMOVABLE PROPERTY, MOVABLE PROPERTY,
     EQUIPMENT, INVENTORY, MACHINERY, FIXTURES AND PERSONAL PROPERTY SHALL BE
     CONVEYED TO BUYER AS IS AND IN THEIR PRESENT CONDITION AND STATE OF REPAIR
     AND BUYER REPRESENTS TO SELLER THAT BUYER HAS MADE OR CAUSED TO BE MADE
     SUCH INSPECTIONS WITH RESPECT TO THE IMMOVABLE PROPERTY, MOVABLE PROPERTY,
     EQUIPMENT, INVENTORY, MACHINERY, FIXTURES AND PERSONAL PROPERTY AS BUYER
     DEEMS APPROPRIATE, AND BUYER WILL ACCEPT THE IMMOVABLE PROPERTY, MOVABLE
     PROPERTY, EQUIPMENT, INVENTORY, MACHINERY, FIXTURES AND PERSONAL PROPERTY
     AS IS, IN THEIR PRESENT CONDITION AND STATE OF REPAIR.

EXECUTED as of the date first set forth above.

                                        FOREST ALASKA OPERATING LLC

                                        By: /s/ Glen J. Mizenko
                                            ------------------------------------
                                        Name: Glen J. Mizenko
                                        Title: Vice President, Business
                                               Development

PIONEER NATURAL RESOURCES ALASKA, INC.

By: /s/ Kenneth H. Sheffield, Jr.
    ------------------------------------
Name: Kenneth H. Sheffield, Jr.
Title: President

                                       12

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