Document:

UNLIMITED GUARANTY

     THIS UNLIMITED  GUARANTY  ("Guaranty") is made as of the 28th day of March,
2002, by Guarantor (as  hereinafter  defined) for the benefit of the  "Bank(s)",
"Agent" and "LC Issuer" (as such terms are hereinafter defined).

     1.  Definitions.  As used in this Guaranty,  the following terms shall have
the meanings indicated below:

          (a) The term "Agent" shall mean,  individually and  collectively,  (i)
     Guaranty  Bank,  FSB,  as  Collateral  Agent for the Banks under the Credit
     Agreement (as hereinafter defined), whose address is 333 Clay Street, Suite
     4430,  Houston,  Texas 77002,  Attn:  Richard Menchaca,  (ii) Union Bank of
     California,  N.A., as  Administrative  Agent for the Banks under the Credit
     Agreement,  whose  address is 500 North Akard,  Suite 4200,  Dallas,  Texas
     75201,  Attn:  John Clark,  and (iii) Fortis Capital Corp.,  as Syndication
     Agent for the Banks  under  the  Credit  Agreement,  whose  address  is 100
     Crescent  Court,  Suite 1777,  Dallas,  Texas 75201,  Attn:  Christopher S.
     Prada,  and each  successor  Collateral  Agent,  Administrative  Agent  and
     Syndication Agent.

          (b) The term "Bank(s)" shall have the same meaning as that term has in
     the Credit  Agreement,  including  each  Bank's  successors  and assigns as
     provided for in Section 9.05 thereof.

          (c) The term "Borrower"  shall mean  Continental  Resources,  Inc., an
     Oklahoma corporation.

          (d) The term "Credit Agreement" shall mean that certain Fourth Amended
     and  Restated  Credit  Agreement  dated as of March  28,  2002 by and among
     Continental   Resources,   Inc.,  as  Borrower,   Guaranty  Bank,  FSB,  as
     Collateral/Documentation  Agent,  Co-Arranger  and a  Bank,  Union  Bank of
     California,  N.A.,  as  Administrative  Agent,  LC Issuer,  Lead  Arranger,
     Fronting Bank and a Bank,  Fortis  Capital  Corp.,  as  Syndication  Agent,
     Co-Arranger and a Bank, and the Banks and financial  institutions from time
     to time parties to the Credit Agreement.

          (e)  The   term   "Guaranteed   Indebtedness"   shall   mean  (i)  all
     indebtedness,  obligations  and  liabilities of Borrower  arising under the
     Credit  Agreement  and other  Loan  Documents  (as  defined  in the  Credit
     Agreement)  to the Bank(s),  the LC Issuer  and/or the Agent of any kind or
     character,  now existing or hereafter  arising,  whether direct,  indirect,
     related, unrelated,  fixed, contingent,  liquidated,  unliquidated,  joint,
     several or joint and several,  and regardless of whether such indebtedness,
     obligations  and  liabilities  may,  prior  to  their  acquisitions  by the
     Bank(s),  the LC Issuer  and/or  the Agent,  respectively,  be or have been
     payable to or in favor of a third  party and  subsequently  acquired by the
     Bank(s),  the LC Issuer  and/or the Agent (it being  contemplated  that the
     Bank(s),  the LC Issuer  and/or the Agent may make such  acquisitions  from
     third parties), including without limitation all indebtedness,  obligations
     and liabilities of Borrower to the Bank(s),  the LC Issuer and/or the Agent
     now existing or hereafter  arising under the Loan Documents by note, draft,
     acceptance,  guaranty, endorsement, letter of credit, assignment, purchase,
     overdraft, discount, indemnity agreement or otherwise, (ii) all accrued but
     unpaid interest on any of the  indebtedness  described in (i) above,  (iii)
     all costs and expenses  incurred by the Bank(s),  the LC Issuer  and/or the
     Agent in connection  with the collection and  administration  of all or any
     part of the indebtedness  and obligations  described in (i), (ii) and (iii)
     above or the  protection  or  preservation  of, or  realization  upon,  the
     collateral  securing all or any part of such  indebtedness and obligations,
     including without  limitation all reasonable  attorneys' fees, and (iv) all
     renewals, extensions,  modifications and rearrangements of the indebtedness
     and obligations described in (i), (ii) and (iii) above.

          (f) The term "Guarantor"  shall mean,  individually and  collectively,
     Continental Gas, Inc., an Oklahoma  corporation,  Continental  Resources of
     Illinois,  Inc., an Oklahoma  corporation,  and  Continental  Crude Co., an
     Oklahoma corporation, whose addresses for notice purposes are as follows:

                  Continental Gas, Inc.
                  c/o Continental Resources, Inc.
                  302 N. Independence, Suite 300
                  Enid, Oklahoma 73701
                  Attn: Randy E. Moeder
                  Telephone: (580) 233-8955
                  Telecopy: (580) 548-5188

                  Continental Resources of Illinois, Inc.
                  c/o Continental Resources, Inc.
                  302 N. Independence, Suite 300
                  Enid, Oklahoma 73701
                  Attn: Randy E. Moeder
                  Telephone:  (580) 233-8955
                  Telecopy:  (580) 548-5188

                  Continental Crude Co.
                  c/o Continental Resources, Inc.
                  302 N. Independence, Suite 300
                  Enid, Oklahoma 73701
                  Attn: Randy E. Moeder
                  Telephone:  (580) 233-8955
                  Telecopy: (580) 548-5188

          (g) The term "LC Issuer"  shall mean Union Bank of  California,  N. A.
     (or  any  subsidiary  or  affiliate  of  Union  Bank  of  California,  N.A.
     designated by Union Bank of California,  N.A. and reasonably  acceptable to
     Borrower)  in it's  capacity as issuer of  Facility  LCs (as defined in the
     Credit Agreement).

     2. Obligations. As an inducement to Bank(s), the LC Issuer and/or the Agent
to extend or continue to extend  credit and other  financial  accommodations  to
Borrower,  Guarantor,  for  value  received,  does  hereby  unconditionally  and
absolutely  guarantee  the  prompt  and  full  payment  and  performance  of the
Guaranteed  Indebtedness  when  due  or  declared  to be due  and  at all  times
thereafter.

     3.  Character  of  Obligations.   This  is  an  absolute,   continuing  and
unconditional  guaranty of payment and  performance and not of collection and if
at  any  time  or  from  time  to  time  there  is  no  outstanding   Guaranteed
Indebtedness,  the  obligations  of  Guarantor  with  respect  to  any  and  all
Guaranteed   Indebtedness  incurred  thereafter  shall  not  be  affected.   All
Guaranteed Indebtedness  heretofore,  concurrently herewith or hereafter made by
Bank(s),  the LC Issuer  and/or  the  Agent to  Borrower  shall be  conclusively
presumed to have been made or acquired in acceptance hereof.  Guarantor shall be
liable,  jointly and severally,  with Borrower and any other guarantor of all or
any part of the Guaranteed Indebtedness.

     4. Representations and Warranties. Guarantor hereby represents and warrants
the following to the Agent and to the Bank(s):

          (a) The Board of  Directors  of  Guarantor  has  determined  that this
     Guaranty may  reasonably  be expected to benefit,  directly or  indirectly,
     Guarantor,  and that the value of the benefits that  Guarantor  will derive
     from giving this  Guaranty are  reasonably  equivalent  to the value of the
     Guaranty; and

          (b) Guarantor is familiar  with,  and has  independently  reviewed the
     books and records  regarding,  the  financial  condition of Borrower and is
     familiar with the value of any and all  collateral  intended to be security
     for  the  payment  of all  or any  part  of  the  Guaranteed  Indebtedness;
     provided,  however, Guarantor is not relying on such financial condition or
     collateral as an inducement to enter into this Guaranty; and

          (c)  Guarantor  has  adequate  means  to  obtain  from  Borrower  on a
     continuing basis information concerning the financial condition of Borrower
     and Guarantor is not relying on the Agent,  the Bank(s) or the LC Issuer to
     provide such information to Guarantor either now or in the future; and

          (d)  Guarantor  has the power and  authority  to execute,  deliver and
     perform  this  Guaranty  and any other  agreements  executed  by  Guarantor
     contemporaneously herewith, and the execution,  delivery and performance of
     this   Guaranty   and  any   other   agreements   executed   by   Guarantor
     contemporaneously herewith do not and will not violate (i) any agreement or
     instrument to which Guarantor is a party, (ii) any law, rule, regulation or
     order of any governmental authority to which Guarantor is subject, or (iii)
     its articles or certificate of incorporation or bylaws; and

          (e) Neither the Agent, the Bank(s),  the LC Issuer nor any other party
     has made any representation, warranty or statement to Guarantor in order to
     induce Guarantor to execute this Guaranty; and

          (f) The financial statements and other financial information regarding
     Guarantor  heretofore and hereafter  delivered to the Agent,  the LC Issuer
     and/or  the  Bank(s)  are and  shall be true and  correct  in all  material
     respects and fairly  present the financial  position of Guarantor as of the
     dates thereof, and no material adverse change has occurred in the financial
     condition of  Guarantor  reflected in the  financial  statements  and other
     financial  information  regarding  Guarantor  heretofore  delivered  to the
     Agent,  the LC  Issuer  and/or  the  Bank(s)  since  the  date of the  last
     statement thereof; and

          (g) As of the date hereof,  and after giving  effect to this  Guaranty
     and the obligations evidenced hereby, (i) Guarantor is and will be solvent,
     (ii) the  fair  saleable  value  of  Guarantor's  assets  exceeds  and will
     continue  to exceed its  liabilities  (both  fixed and  contingent),  (iii)
     Guarantor is and will  continue to be able to pay its debts as they mature,
     and (iv)  Guarantor  has and will  continue to have  sufficient  capital to
     carry on its business and all businesses in which it is about to engage.

     5. Covenants.  Guarantor hereby covenants and agrees with the Agent, the LC
Issuer and the Bank(s) as follows:

          (a)  Guarantor  shall  not,  so long  as its  obligations  under  this
     Guaranty  continue,  transfer or pledge any material  portion of its assets
     for less than full and adequate consideration; and

          (b) Guarantor shall promptly furnish to the Agent at any time and from
     time to time such financial  statements and other financial  information of
     Guarantor  as  required  by the  Credit  Agreement,  in form and  substance
     satisfactory to Agent; and

          (c) Guarantor  shall comply with all terms and  provisions of the Loan
     Documents (as defined in the Credit Agreement) that apply to Guarantor; and

          (d) Promptly upon a responsible  officer of Guarantor  becoming aware,
     Guarantor  shall  promptly  inform  the  Agent  of (i)  any  litigation  or
     governmental  investigation against Guarantor or affecting any security for
     all or any part of the Guaranteed  Indebtedness  or this Guaranty which, if
     determined  adversely,  might  have a  material  adverse  effect  upon  the
     financial  condition of  Guarantor  or upon such  security or might cause a
     default  under any of the Loan  Documents,  (ii) any  claim or  controversy
     which  might  become  the  subject  of  such   litigation  or  governmental
     investigation,  and  (iii) any  material  adverse  change in the  financial
     condition of Guarantor.

     6. Consent and Waiver.

          (a)  Guarantor   waives  (i)  promptness,   diligence  and  notice  of
     acceptance of this Guaranty and notice of the incurring of any  obligation,
     indebtedness  or liability to which this Guaranty  applies or may apply and
     waives  presentment  for payment,  notice of nonpayment,  protest,  demand,
     notice of protest, notice of intent to accelerate,  notice of acceleration,
     notice of dishonor, diligence in enforcement and indulgences of every kind,
     and (ii) the taking of any other action by the Agent,  the LC Issuer and/or
     the Bank(s), including without limitation,  giving any notice of default or
     any other notice to, or making any demand on, Borrower, any other guarantor
     of all or any part of the Guaranteed Indebtedness or any other party except
     as required by the Credit Agreement.

          (b)  Guarantor   waives  any  rights   Guarantor  has  under,  or  any
     requirements  imposed by,  Chapter 34 of the Texas  Business  and  Commerce
     Code, as in effect on the date of this Guaranty.

          (c) The  Agent,  the LC Issuer  and/or  the  Bank(s)  may at any time,
     without  the  consent  of  or  notice  to  Guarantor,   without   incurring
     responsibility to Guarantor and without impairing,  releasing,  reducing or
     affecting the  obligations of Guarantor  hereunder:  (i) change the manner,
     place  or  terms  of  payment  of  all  or  any  part  of  the   Guaranteed
     Indebtedness,  or renew, extend, modify, rearrange or alter all or any part
     of the Guaranteed  Indebtedness;  (ii) change the interest rate accruing on
     any of the Guaranteed  Indebtedness  (including,  without  limitation,  any
     periodic  change in such interest rate that occurs because such  Guaranteed
     Indebtedness  accrues  interest at a variable rate which may fluctuate from
     time to time);  (iii)  sell,  exchange,  release,  surrender,  subordinate,
     realize  upon or  otherwise  deal with in any  manner  and in any order any
     collateral  for all or any  part  of the  Guaranteed  Indebtedness  or this
     Guaranty or setoff against all or any part of the Guaranteed  Indebtedness;
     (iv) neglect,  delay,  omit, fail or refuse to take or prosecute any action
     for the  collection of all or any part of the  Guaranteed  Indebtedness  or
     this Guaranty or to take or prosecute any action in connection  with any of
     the Loan  Documents;  (v)  exercise or refrain from  exercising  any rights
     against Borrower or others,  or otherwise act or refrain from acting;  (vi)
     settle or compromise  all or any part of the  Guaranteed  Indebtedness  and
     subordinate  the payment of all or any part of the Guaranteed  Indebtedness
     to the payment of any obligations, indebtedness or liabilities which may be
     due or become due to the Bank(s), the LC Issuer and/or the Agent or others;
     and (vii)  apply any sums paid to the  Bank(s),  the LC Issuer  and/or  the
     Agent by Guarantor,  Borrower or others to the Guaranteed  Indebtedness  in
     such  order  and  manner  as the  Agent,  in  their  sole  discretion,  may
     determine.

          (d) Should the Agent, the LC Issuer or the Bank(s) seek to enforce the
     obligations  of Guarantor  hereunder  by action in any court or  otherwise,
     Guarantor waives any requirement,  substantive or procedural,  that (i) the
     Agent,  the LC Issuer or the Bank(s)  first  enforce any rights or remedies
     against  Borrower  or any  other  person  or  entity  liable to any of such
     parties  for all or any  part  of the  Guaranteed  Indebtedness,  including
     without  limitation that a judgment first be rendered  against  Borrower or
     any other person or entity,  or that Borrower or any other person or entity
     should be joined in such  cause,  or (ii) the  Agent,  the LC Issuer or the
     Bank(s) shall first enforce rights against any collateral  which shall ever
     have been given to secure all or any part of the Guaranteed Indebtedness or
     this Guaranty.  Such waiver shall be without prejudice to the Agent's,  the
     LC Issuer's  or the  Bank(s)'  right,  at its  option,  to proceed  against
     Borrower or any other  person or entity,  whether by separate  action or by
     joinder.

          (e) In addition to any other  waivers,  agreements  and  covenants  of
     Guarantor set forth herein,  Guarantor  hereby  further waives and releases
     all claims, causes of action,  defenses and offsets for any act or omission
     of  the  Agent   and/or  the  Agent's   directors,   officers,   employees,
     representatives or agents in connection with Agent's  administration of the
     Guaranteed  Indebtedness,  except for the Agent's  willful  misconduct  and
     gross negligence.

     7. Obligations Not Impaired.

          (a)  Guarantor  agrees  that its  obligations  hereunder  shall not be
     released,  diminished,  impaired,  reduced or affected by the occurrence of
     any one or more of the following events: (i) the death,  disability or lack
     of corporate power of Borrower,  Guarantor (except as provided in paragraph
     11  herein)  or any other  guarantor  of all or any part of the  Guaranteed
     Indebtedness,  (ii)  any  receivership,  insolvency,  bankruptcy  or  other
     proceedings affecting Borrower,  Guarantor or any other guarantor of all or
     any  part  of the  Guaranteed  Indebtedness,  or any  of  their  respective
     property;  (iii) the partial or total  release or  discharge of Borrower or
     any other guarantor of all or any part of the Guaranteed  Indebtedness,  or
     any other person or entity from the performance of any obligation contained
     in any instrument or agreement evidencing, governing or securing all or any
     part of the Guaranteed Indebtedness,  whether occurring by reason of law or
     otherwise;  (iv) the taking or accepting of any  collateral  for all or any
     part of the Guaranteed  Indebtedness  or this  Guaranty;  (v) the taking or
     accepting  of any  other  guaranty  for all or any  part of the  Guaranteed
     Indebtedness;  (vi) any failure by the Agent,  the LC Issuer or the Bank(s)
     to acquire, perfect or continue any lien or security interest on collateral
     securing all or any part of the Guaranteed  Indebtedness  or this Guaranty;
     (vii) the  impairment  of any  collateral  securing  all or any part of the
     Guaranteed Indebtedness or this Guaranty;  (viii) any failure by the Agent,
     the LC Issuer or the  Bank(s) to sell any  collateral  securing  all or any
     part of the  Guaranteed  Indebtedness  or this  Guaranty in a  commercially
     reasonable  manner or as otherwise  required by law; (ix) any invalidity or
     unenforceability  of or defect or deficiency in any of the Loan  Documents;
     or (x) any other  circumstance  which might otherwise  constitute a defense
     available  to, or discharge of,  Borrower or any other  guarantor of all or
     any part of the Guaranteed Indebtedness.

          (b) This Guaranty shall continue to be effective or be reinstated,  as
     the case  may be,  if at any  time  any  payment  of all or any part of the
     Guaranteed  Indebtedness  is rescinded or must otherwise be returned by the
     Agent,  the LC Issuer or the Bank(s)  upon the  insolvency,  bankruptcy  or
     reorganization of Borrower, Guarantor, or any other guarantor of all or any
     part of the  Guaranteed  Indebtedness,  or  otherwise,  all as though  such
     payment had not been made.

          (c)  None  of  the  following  shall  affect   Guarantor's   liability
     hereunder:  (i) the  unenforceability  of all or any part of the Guaranteed
     Indebtedness  against  Borrower  by reason of the fact that the  Guaranteed
     Indebtedness  exceeds the amount permitted by law; (ii) the act of creating
     all or any part of the Guaranteed Indebtedness is ultra vires; or (iii) the
     officers  or  partners   creating  all  or  any  part  of  the   Guaranteed
     Indebtedness   acted  in  excess  of  their  authority.   Guarantor  hereby
     acknowledges  that  withdrawal  from,  or  termination  of,  any  ownership
     interest in Borrower now or hereafter  owned or held by Guarantor shall not
     alter, affect or in any way limit the obligations of Guarantor hereunder.

     8. Actions against  Guarantor.  In the event of a default in the payment or
performance  of  all or  any  part  of the  Guaranteed  Indebtedness  when  such
Guaranteed  Indebtedness  becomes due,  whether by its terms, by acceleration or
otherwise,  Guarantor shall,  without notice or demand,  promptly pay the amount
due  thereon to the Agent,  in lawful  money of the  United  States,  at Agent's
address  set  forth  in  subparagraph  1(a)  above.  One or more  successive  or
concurrent actions may be brought against  Guarantor,  either in the same action
in which  Borrower  is sued or in  separate  actions,  as  often  as Agent  deem
advisable.  The exercise by the Agent, the LC Issuer or the Bank(s) of any right
or remedy under this  Guaranty or under any other  agreement or  instrument,  at
law,  in equity  or  otherwise,  shall not  preclude  concurrent  or  subsequent
exercise of any other right or remedy.  The books and records of the Agent,  the
LC Issuer or the  Bank(s)  shall be  admissible  in  evidence  in any  action or
proceeding  involving  this  Guaranty  and shall be prima facie  evidence of the
payments made on, and the outstanding balance of, the Guaranteed Indebtedness.

     9. Payment by Guarantor.  Whenever  Guarantor  pays any sum which is or may
become due under this  Guaranty,  written  notice must be delivered to the Agent
contemporaneously with such payment. Such notice shall be effective for purposes
of this  paragraph  when  contemporaneously  with such payment the Agent receive
such  notice  either  by:  (a)  personal  delivery  to the  address of the Agent
identified in subparagraph  1(a) above, or (b) United States mail,  certified or
registered, return receipt requested, postage prepaid, addressed to the Agent at
the address shown in  subparagraph  1(a) above. In the absence of such notice to
the  Agent by  Guarantor  in  compliance  with the  provisions  hereof,  any sum
received  by the  Agent  on  account  of the  Guaranteed  Indebtedness  shall be
conclusively deemed paid by Borrower.

     10. Notice of Sale. In the event that  Guarantor is entitled to receive any
notice under the Uniform  Commercial  Code, as it exists in the state  governing
any such notice, of the sale or other disposition of any collateral securing all
or any part of the Guaranteed  Indebtedness or this Guaranty,  reasonable notice
shall be deemed given when such notice is  deposited in the United  States mail,
postage  prepaid,  at the address for Guarantor set forth in  subparagraph  1(d)
above,  ten (10) days  prior to the date any  public  sale,  or after  which any
private sale,  of any such  collateral is to be held;  provided,  however,  that
notice  given in any other  reasonable  manner or at any other  reasonable  time
shall be sufficient.

     11. Waiver by Agent or Bank(s).  No delay on the part of the Agent,  the LC
Issuer or the Bank(s) in exercising  any right  hereunder or failure to exercise
the same shall  operate as a waiver of such right.  In no event shall any waiver
of the  provisions of this  Guaranty be effective  unless the same be in writing
and signed by an officer of the Agent,  the LC Issuer or the  Bank(s),  and then
only in the specific instance and for the purpose given.

     12. Successors and Assigns.  This Guaranty is for the benefit of the Agent,
each successor Agent, the LC Issuer, each successor LC Issuer, the Bank(s),  and
each Bank's successors and assigns.  This Guaranty is binding upon Guarantor and
Guarantor's  successors and assigns,  including without limitation any person or
entity  obligated  by  operation  of  law  upon  the   reorganization,   merger,
consolidation or other change in the organizational structure of Guarantor.

     13.  Costs  and  Expenses.  Guarantor  shall pay on demand by the Agent all
costs and expenses, including without limitation, all reasonable attorneys' fees
incurred by the Agent,  the LC Issuer and/or the Bank(s) in connection  with the
preparation,  administration,  enforcement  and/or  collection of this Guaranty.
This covenant shall survive the payment of the Guaranteed Indebtedness.

     14.  Severability.  If any provision of this Guaranty is held by a court of
competent jurisdiction to be illegal,  invalid or unenforceable under present or
future  laws,  such  provision  shall be fully  severable,  shall not  impair or
invalidate  the  remainder  of this  Guaranty  and the effect  thereof  shall be
confined to the provision held to be illegal, invalid or unenforceable.

     15. No  Obligation.  Nothing  contained  herein  shall be  construed  as an
obligation  on the part of the Agent,  the LC Issuer or the Bank(s) to extend or
continue to extend credit to Borrower.

     16.  Amendment.  No  modification  or  amendment  of any  provision of this
Guaranty,  nor  consent  to any  departure  by  Guarantor  therefrom,  shall  be
effective  unless the same  shall be in writing  and signed by an officer of the
Agent,  the LC Issuer or the Bank(s),  and then shall be  effective  only in the
specific instance and for the purpose for which given.

     17. Cumulative  Rights. All rights and remedies of the Agent, the LC Issuer
or the Bank(s)  hereunder are  cumulative of each other and of every other right
or remedy which the Agent,  the LC Issuer or the Bank(s) may  otherwise  have at
law or in equity or under any  instrument or agreement,  and the exercise of one
or more of such rights or remedies  shall not prejudice or impair the concurrent
or subsequent exercise of any other rights or remedies.

     18.  GOVERNING  LAW.  THIS  GUARANTY  SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS AND APPLICABLE FEDERAL LAWS.

     19. Venue. This Guaranty has been entered into in the county in Texas where
the Agent's address for notice purposes is located,  and it shall be performable
for all  purposes in such  county.  Courts  within the State of Texas shall have
jurisdiction  over any and all  disputes  arising  under or  pertaining  to this
Guaranty  and venue for any such  disputes  shall be in the  county or  judicial
district where the Agent's address for notice purposes is located.

     20.  Compliance  with  Applicable  Usury  Laws.  Notwithstanding  any other
provision  of  this  Guaranty  or of any  instrument  or  agreement  evidencing,
governing or securing all or any part of the Guaranteed Indebtedness,  Guarantor
and the Agent,  the LC Issuer and the Bank(s) by their  acceptance  hereof agree
that Guarantor shall never be required or obligated to pay interest in excess of
the maximum nonusurious interest rate as may be authorized by applicable law for
the written  contracts which constitute the Guaranteed  Indebtedness.  It is the
intention  of  Guarantor  and the Agent,  LC Issuer  and the  Bank(s) to conform
strictly to the  applicable  laws which  limit  interest  rates,  and any of the
aforesaid  contracts  for interest,  if and to the extent  payable by Guarantor,
shall be held to be subject to  reduction  to the maximum  nonusurious  interest
rate allowed under said law.

     21. Descriptive Headings. The headings in this Guaranty are for convenience
only and shall not define or limit the provisions hereof.

     22. Entire  Agreement.  This Guaranty contains the entire agreement between
Guarantor  and the Agent,  the LC Issuer and the Bank(s)  regarding  the subject
matter  hereof  and  supersedes  all  prior  written  and  oral  agreements  and
understandings,  if any, regarding same; provided,  however, this Guaranty is in
addition  to and does not  replace,  cancel,  modify or affect  any terms of the
Credit  Agreement  or any Loan  Documents  (as  defined  therein),  or any other
guaranty of Guarantor now or hereafter  held by the Agent,  the LC Issuer or the
Bank(s) that relates to Borrower or any other person or entity.

                            [Signature page follows.]

     EXECUTED as of the date first above written.

                          GUARANTORS:

                          CONTINENTAL GAS, INC.

                          By:    RANDY E. MOEDER
                                 Randy E. Moeder, President

                          CONTINENTAL RESOURCES OF ILLINOIS, INC.

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

                          CONTINENTAL CRUDE CO.

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

                  [THIS IS THE SIGNATURE PAGE TO THE GUARANTY]SECURITY AGREEMENT

     THIS  SECURITY  AGREEMENT  dated  effective as of March 28, 2002, is by and
between  CONTINENTAL  RESOURCES,  INC., an Oklahoma  corporation  (the "Debtor")
whose  address is 302 N.  Independence,  Suite  300,  Enid,  Oklahoma  73701 and
GUARANTY BANK, FSB, a federal  savings bank, as Bank and as Collateral  Agent as
defined under the Credit Agreement  hereinafter  defined (the "Secured  Party"),
whose address is 333 Clay Street, Suite 4430, Houston,  Texas 77002, 730 N. Post
Oak Road, 4th Floor, Houston, Texas 77024.

                                R E C I T A L S:

     A.  Reference is made to that certain  Fourth  Amended and Restated  Credit
Agreement  dated of even date  herewith by and among  Debtor,  Secured  Party as
Collateral/Documentation   Agent,   Co-Arranger  and  a  Bank,   Union  Bank  of
California,  N.A., as Administrative  Agent, LC Issuer, Lead Arranger,  Fronting
Bank and a Bank, Fortis Capital Corp., as Syndication  Agent, Co- Arranger and a
Bank and the other financial institutions and banks from time to time parties to
the Credit Agreement (the  "Banks")(as the same may be amended,  supplemented or
modified from time to time, the "Credit Agreement");

     B. The loans to be made  pursuant to the Credit  Agreement are evidenced by
certain Amended and Restated Replacement Notes in the aggregate principal amount
of  $175,000,000.00,  such notes dated as of even date  herewith and executed by
Debtor and  payable  to Secured  Party,  as the same may be  amended,  extended,
renewed or restated (the "Notes").

     C. Secured Party has conditioned its obligations under the Credit Agreement
upon, among other things,  the execution and delivery of this Security Agreement
by Debtor (hereinafter, the "Agreement").

     NOW THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

                                    ARTICLE I

                                SECURITY INTEREST

     Section 1.01.  Security  Interest.  Debtor hereby grants to Secured Party a
security  interest in the following  property,  whether now owned or existing or
hereafter  arising or acquired and wherever  arising or located  (such  property
being hereinafter sometimes called the "Collateral"):

          (a) All  right,  title and  interest  of  Debtor in and to all  goods,
     inventory,   equipment,   fixtures,  machinery,   furnishings,   furniture,
     appliances,  accessories, leasehold improvements,  hattels, and other items
     of personal property owned by the Debtor, including, but not limited to all
     of the foregoing that are located on the property  described on Exhibit "A"
     ("Property")  which is attached hereto and incorporated  herein, or used or
     held for use by Debtor in connection with any such Property;

          (b) All accounts, contract rights (including,  without limitation, any
     Hedge  Agreement,  as  defined  in  the  Credit  Agreement),   instruments,
     documents,  chattel  paper,  and  general  intangibles  owned by the Debtor
     relating to or arising out of the Property;

          (c) All right,  title and interest of Debtor in and to all  accessions
     or appurtenances to any of the foregoing;

          (d)  All  right,   title  and   interest  of  Debtor  in  and  to  all
     improvements,   extensions,   alterations,   substitutions,   replacements,
     renewals,  and rights  belonging or in any way  appertaining  to all or any
     part of the foregoing or acquired for use in connection therewith;

          (e) All right,  title and  interest  of Debtor in and to all  proceeds
     payable or to be payable  under each  policy of  insurance  relating to the
     whole or any part of the foregoing; and

          (f) Without  limiting any  description  of the  foregoing,  all right,
     title and interest of Debtor in and to all rights, rents, revenues, income,
     issues,  benefits,  leases,  contract rights, general intangibles,  chattel
     paper, money, instruments, documents, files, computerized or other records,
     books, ledger sheets, executory contract rights, rights as an unpaid vendor
     (including the right to stop goods in transit, to replevy, and to reclaim),
     tenements,  hereditaments,  and appurtenances now or hereafter owned by the
     Debtor and appertaining to, generated from, arising out of, or belonging to
     any of the foregoing, and all products and proceeds thereof.

     Section  1.02.  After-Acquired  Collateral.  All  property  acquired by the
Debtor after the date of this  Agreement that by the terms hereof is required or
intended  to be  subject  to the  security  interest  granted or renewed by this
Agreement will,  immediately  upon the  acquisition  thereof and without further
mortgage,  conveyance,  or assignment,  become subject to the security  interest
created  by this  Agreement  as fully as  though  now  owned by the  Debtor  and
specifically described herein. Nevertheless, the Debtor will do all such further
acts and will execute,  acknowledge,  and deliver all such further  conveyances,
mortgages,  financing statements, and assurances as the Secured Party reasonably
requires for accomplishing the purposes of this Agreement.

     Section 1.03. Sale of Collateral.  The inclusion of proceeds as part of the
Collateral does not authorize the Debtor to sell any of the Collateral except to
the extent permitted by the Credit  Agreement  without the Secured Party's prior
written consent, except as provided in Section 3.04 of this Security Agreement.

     Section  1.04.  Obligations.  The  Collateral  shall  secure the  following
("Obligations"):

          (a) the  obligations  and  indebtedness  of  Debtor to  Secured  Party
     evidenced by the Notes;

          (b) the obligations and  indebtedness of Debtor to Secured Party under
     the Credit Agreement and the Loan Documents, as such term is defined in the
     Credit Agreement;

          (c) any and all indebtedness  and liabilities  whatsoever of Debtor to
     Secured Party whether direct or indirect, absolute or contingent, due or to
     become  due,  and whether now  existing  or  hereafter  arising and however
     evidenced or acquired, and whether joint or several;

          (d)  all  costs  and  expenses,  including,  without  limitation,  all
     attorneys' fees and legal  expenses,  incurred by Secured Party to preserve
     and maintain the Collateral,  collect the obligations herein described, and
     enforce this Agreement; and

          (e)  all  extensions,  renewals,  and  modifications  of  any  of  the
     foregoing.

                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

     To  induce  Secured  Party to enter  into  this  Agreement  and the  Credit
Agreement, Debtor represents and warrants to Secured Party that:

     Section 2.01.  Title.  Except for the security  interest granted herein and
Permitted  Encumbrances,  as defined in the Credit  Agreement,  Debtor owns, and
with respect to Collateral acquired after the date hereof,  Debtor will own, the
Collateral free and clear of any lien, security interest, or other encumbrance.

     Section  2.02.  Financing  Statements.  No  financing  statement,  security
agreement,  or other lien instrument  covering all or any part of the Collateral
is on file in any  public  office,  except  as may have  been  filed in favor of
Secured Party.

     Section 2.03.  Organization  and  Authority.  Debtor is a corporation  duly
formed and validly existing under the laws of the state of Oklahoma.  Debtor has
the power and authority to execute, deliver, and perform this Agreement, and the
execution,  delivery,  and  performance  of this  Agreement  by Debtor have been
authorized by all necessary action on the part of Debtor and do not and will not
violate any law, rule or  regulation  or the charter  documents of Debtor and do
not and will not conflict  with,  result in a breach of, or constitute a default
under  the  provisions  of any  indenture,  mortgage,  deed of  trust,  security
agreement,  or other instrument or agreement  pursuant to which Debtor or any of
its property is bound.

     Section 2.04. Principal Place of Business.  The principal place of business
of Debtor,  and the office where Debtor keeps its books and records,  is located
at the address of Debtor shown at the beginning of this Agreement.

     Section 2.05.  Location of Collateral.  The Collateral of Debtor is located
either at the address of Debtor shown at the  beginning of this  Agreement or on
the Property described on Exhibit "A" attached hereto.

                                   ARTICLE III

                                    COVENANTS

     Debtor  covenants and agrees with Secured Party that until the  Obligations
are paid and performed in full:

     Section 3.01.  Maintenance.  Debtor shall  maintain the  Collateral in good
operating  condition and repair and shall not permit any waste or destruction of
the  Collateral  or any part  thereof,  unless the  failure to do so, in any one
instance  or in the  aggregate,  would not have a  Material  Adverse  Effect (as
defined in the Credit Agreement).  Debtor shall not use or permit the Collateral
to be used in  violation  of any law or  inconsistently  with  the  terms of any
policy of insurance. Debtor shall not use or permit the Collateral to be used in
any  manner or for any  purpose  that would  materially  impair the value of the
Collateral or expose the Collateral to unusual risk.

     Section 3.02.  Encumbrances.  Debtor shall not create, permit, or suffer to
exist, and shall defend the Collateral against, any lien, security interest,  or
other  encumbrance  on the  Collateral  except the security  interest of Secured
Party hereunder and Permitted Encumbrances,  as defined in the Credit Agreement,
and shall defend Debtor's rights in the Collateral and Secured Party's  security
interest in the Collateral against the claims of all persons and entities.

     Section 3.03.  Rights to Collateral.  Debtor shall do nothing to impair the
rights of Secured Party in the Collateral.

     Section  3.04.  Disposition  of  Collateral.  Except  as may  be  expressly
provided for in the Credit Agreement, Debtor shall not sell, lease, or otherwise
dispose of the Collateral or any part thereof  without the prior written consent
of Secured Party.

     Section 3.05. Further  Assurances.  At any time and from time to time, upon
the request of Secured  Party,  and at the sole expense of Debtor,  Debtor shall
promptly execute and deliver all such further instruments and documents and take
such further action as Secured Party may deem necessary or desirable to preserve
and perfect its security interest in the Collateral and carry out the provisions
and purposes of this Agreement, including, without limitation, the execution and
filing of such  financing  statements  as Secured  Party may require.  A carbon,
photographic,  or  other  reproduction  of this  Agreement  or of any  financing
statement  covering the  Collateral or any part thereof shall be sufficient as a
financing statement and may be filed as a financing statement.

     Section 3.06. Risk of Loss; Insurance.  Debtor shall be responsible for any
loss of or damage to the  Collateral.  Debtor shall maintain,  with  financially
sound and reputable  companies,  insurance  policies (i) insuring the Collateral
against loss by fire,  explosion,  theft, and such other risks and casualties as
are customarily  insured  against by companies  engaged in the same or a similar
business,  and (ii)  insuring  Debtor and Secured  Party  against  liability for
personal injury and property damage relating to the Collateral, such policies to
be in such amounts and covering such risks as are customarily insured against by
companies  engaged in the same or a similar  business,  with  losses  payable to
Debtor and Secured Party as their respective interests may appear. All insurance
with respect to the Collateral shall provide that no cancellation,  reduction in
amount,  or change in coverage  thereof shall be effective  unless Secured Party
has received thirty (30) days prior written notice thereof. Debtor shall deliver
to Secured Party copies of all insurance policies covering the Collateral or any
part thereof.

     Section 3.07.  Inspection Rights. Debtor shall permit Secured Party and its
representatives  to examine or inspect the  Collateral  wherever  located and to
examine, inspect, and copy Debtor's books and records at any reasonable time and
as often as Secured Party may desire during normal business hours.

     Section 3.08.  Notification.  Debtor shall promptly notify Secured Party of
(i) any  lien,  security  interest,  encumbrance,  or claim  made or  threatened
against the  Collateral,  other than  Permitted  Encumbrances  as defined in the
Credit  Agreement,  and (ii) any material change in the  Collateral,  including,
without limitation, any material damage to or loss of the Collateral.

     Section 3.09. Taxes. Debtor agrees to pay or discharge prior to delinquency
all taxes, assessments,  levies, and other governmental charges imposed on it or
its  property,  except Debtor shall not be required to pay or discharge any tax,
assessment,  levy,  or other  governmental  charge if (i) the amount or validity
thereof is being  contested by Debtor in good faith by  appropriate  proceedings
diligently  pursued,  (ii) such  proceedings  do not  involve  any risk of sale,
forfeiture,  or  loss of the  Collateral  or any  interest  therein,  and  (iii)
adequate  reserves  therefor have been  established in conformity with generally
accepted accounting principles.

     Section 3.10.  Books and Records;  Information.  Debtor shall keep accurate
and complete books and records of the Collateral. Debtor shall from time to time
at the  request of Secured  Party  deliver  to  Secured  Party such  information
regarding the  Collateral  and Debtor as Secured  Party may request,  including,
without limitation, lists and descriptions of the Collateral and evidence of the
identity  and  existence  of the  Collateral.  Debtor  shall  mark its books and
records to reflect the security interest of Secured Party under this Agreement.

     Section  3.11.  Location of  Collateral.  Debtor  shall not move any of the
Collateral from the location  specified herein without the prior written consent
of Secured  Party except as may be necessary in the normal  course of operations
of the Property and with proper documentation of disposition of Collateral.

     Section 3.12. Obligations. Debtor shall duly and punctually pay and perform
the Obligations.

     Section  3.13.  Organization  Changes.  Debtor  shall not  change its name,
identity, or corporate structure or management in any manner that might make any
financing statement filed in connection with this Agreement seriously misleading
unless  Debtor shall have given  Secured  Party  thirty (30) days prior  written
notice thereof and shall have taken all action deemed  necessary or desirable by
Secured Party to make each financing statement not seriously misleading.  Debtor
shall not change its principal place of business or the place where it keeps its
books and  records  unless it shall have given  Secured  Party  thirty (30) days
prior written notice thereof and shall have taken all action deemed necessary or
desirable by Secured Party to cause its security  interest in the  Collateral to
be perfected with the priority required by this Agreement.

                                   ARTICLE IV

                             RIGHTS OF SECURED PARTY

     Section 4.01. Power of Attorney.  Debtor hereby irrevocably constitutes and
appoints  Secured  Party and any  officer or agent  thereof,  with full power of
substitution,  as its true and  lawful  attorney-in-fact  with full  irrevocable
power and authority in the name of Debtor or in its own name,  to take,  any and
all action and to execute any and all  documents and  instruments  which Secured
Party  at any time  and  from  time to time  deems  necessary  or  desirable  to
accomplish the purposes of this  Agreement.  All third parties may  conclusively
rely on any action taken by Secured  Party  purporting to act in its capacity as
attorney-in-fact for Debtor.

     This power of attorney  is a power  coupled  with an interest  and shall be
irrevocable.  Secured  Party shall be under no duty to exercise or withhold  the
exercise of any of the rights,  powers,  privileges,  and options  expressly  or
implicitly  granted to Secured Party in this Agreement,  and shall not be liable
for any  failure to do so or any delay in doing so.  Secured  Party shall not be
liable for any act or  omission  or for any error of  judgment or any mistake of
fact or law in its  individual  capacity or in its capacity as  attorney-in-fact
except  acts or  omissions  resulting  from its  gross  negligence  and  willful
misconduct.  This power of attorney is conferred on Secured Party solely for the
purposes  of  enabling  Secured  Party to act on  behalf  of  Debtor in order to
perform any act that Debtor is  obligated to perform  hereunder  that Debtor has
failed or refused to perform, or for any other purpose which Secured Party deems
necessary to act  promptly to protect or preserve  its security  interest in the
Collateral.  Secured Party shall not be responsible for any decline in the value
of the Collateral and shall not be required to take any steps to preserve rights
against prior parties or to protect, preserve, or maintain any security interest
or lien given to secure the Collateral.

     Section  4.02.  Performance  by Secured Party of Debtor's  Obligations.  If
Debtor fails to perform or comply with any of its agreements  contained  herein,
Secured  Party  itself  may, at its sole  discretion,  cause or attempt to cause
performance or compliance with such agreement and the expenses of Secured Party,
together  with  interest  thereon  at the  maximum  nonusurious  per annum  rate
permitted  by  applicable  law,  shall be payable by Debtor to Secured  Party on
demand   and  shall   constitute   Obligations   secured   by  this   Agreement.
Notwithstanding  the foregoing,  it is expressly agreed that Secured Party shall
not have any liability or  responsibility  for the performance of any obligation
of Debtor under this Agreement.

     Section  4.03.  Setoff;  Property  Held by  Secured  Party.  Subject to the
provisions  of the Credit  Agreement,  which  shall  control  over any  contrary
provisions  in this  Section,  Secured Party shall have the right to set off and
apply against the Obligations, at any time and without notice to Debtor, any and
all deposits (general or special, time or demand, provisional or final) or other
sums at any  time  credited  by or  owing  from  Secured  Party  to  Debtor.  As
additional  security for the  Obligations,  Debtor hereby grants Secured Party a
security interest in all money, instruments, and other property of Debtor now or
hereafter held by Secured Party, including without limitation,  property held in
safekeeping.  In  addition  to  Secured  Party's  right of setoff and as further
security for the  Obligations,  Debtor  hereby  grants  Secured Party a security
interest in all deposits  (general or special,  time or demand,  provisional  or
final) of Debtor now or hereafter  on deposit with or held by Secured  Party and
all other sums at any time  credited by or owing from  Secured  Party to Debtor.
The rights and  remedies  of Secured  Party  hereunder  are in addition to other
rights and  remedies  (including,  without  limitation,  other rights of setoff)
which Secured Party may have.

     Section 4.04.  Assignment by Secured Party.  Secured Party may from time to
time assign the  Obligations  and any portion thereof and the Collateral and any
portion  thereof,  and the  assignee  shall be entitled to all of the rights and
remedies of Secured Party under this Agreement in relation thereto.

     Section 4.05  Financing  Statement.  Secured Party shall be entitled at any
time to file,  and Debtor  hereby  authorizes  Secured  Party to file, a Uniform
Commercial Code Financing Statement or this Security Agreement (or any amendment
to either such instrument) or a carbon,  photographic,  or other reproduction of
this Security  Agreement (or amendment  thereto),  as a financing  statement (or
amendment  thereto),  in any form or medium provided by the UCC, with or without
Debtor's  signature,  but the failure of Secured Party to do so shall not impair
the validity or enforceability of this Security Agreement.

                                    ARTICLE V

                                     DEFAULT

     Section  5.01.  Default and  Remedies.  Upon the  occurrence of an Event of
Default (as such term is defined in the Credit  Agreement),  Secured Party shall
have the following rights and remedies:

          (a)  Secured  Party may declare the  Obligations  or any part  thereof
     immediately due and payable, without notice, demand, presentment, notice of
     dishonor, notice of acceleration, notice of intent to accelerate, notice of
     intent to demand,  protest,  or other formalities of any kind, all of which
     are hereby expressly  waived by Debtor;  provided,  however,  that upon the
     occurrence  of an  Event  of  Default  under  Section  7.01  of the  Credit
     Agreement, the Obligations shall become immediately due and payable without
     notice, demand,  presentment,  notice of dishonor,  notice of acceleration,
     notice of intent to  accelerate,  notice of intent to demand,  protest,  or
     other  formalities of any kind, all of which are hereby expressly waived by
     Debtor.

          (b) In addition to all other  rights and  remedies  granted to Secured
     Party in this Agreement and in any other instrument or agreement  securing,
     evidencing,  or relating to the  Obligations  or any part thereof,  Secured
     Party shall have all of the rights and  remedies  of a secured  party under
     the  Uniform  Commercial  Code as  adopted  by the State of Texas.  Without
     limiting the  generality  of the  foregoing,  Secured Party may (i) without
     demand or notice to Debtor,  collect,  receive,  or take  possession of the
     Collateral or any part thereof and for that purpose Secured Party may enter
     upon any  premises  on which the  Collateral  is  located  and  remove  the
     Collateral  therefrom or render it inoperable,  and/or (ii) sell, lease, or
     otherwise  dispose of the Collateral,  or any part thereof,  in one or more
     parcels at public or private sale or sales,  at Secured  Party's offices or
     elsewhere, for cash, on credit, or for future delivery. Upon the request of
     Secured  Party,  Debtor shall assemble the Collateral and make it available
     to  Secured  Party  at any  place  designated  by  Secured  Party  that  is
     reasonably  convenient  to Debtor and  Secured  Party.  Debtor  agrees that
     Secured  Party  shall  not be  obligated  to give  more  than ten (10) days
     written  notice  of the time and  place of any  public  sale or of the time
     after  which any  private  sale may take place and that such  notice  shall
     constitute  reasonable  notice of such matters.  Debtor shall be liable for
     all expenses of retaking, holding, preparing for sale, or the like, and all
     attorneys' fees, legal expenses,  and all other costs and expenses incurred
     by Secured Party in connection  with the collection of the  Obligations and
     the  enforcement of Secured  Party's rights under this  Agreement.  Secured
     Party may apply the  Collateral  against the  Obligations in such order and
     manner as Secured Party may elect in its sole discretion. Debtor waives all
     rights of marshalling in respect of the Collateral.

          (c) Secured Party may cause any or all of the Collateral held by it to
     be  transferred  into  the  name of  Secured  Party or the name or names of
     Secured Party's nominee or nominees.

                                   ARTICLE VI

                                  MISCELLANEOUS

     Section 6.01. Expenses; Indemnification. Debtor agrees to pay on demand all
costs and expenses incurred by Secured Party in connection with the preparation,
negotiation,  and execution of this Agreement  subject to any limitations in the
Credit  Agreement and any and all  amendments,  modifications,  and  supplements
hereto. Debtor agrees to pay and to hold Secured Party harmless from and against
all fees and all excise,  sales,  stamp,  and other taxes  payable in connection
with this  Agreement or the  transactions  contemplated  hereby.  Debtor  hereby
indemnifies  and holds  Secured  Party  harmless  from and  against  any and all
present and future claims,  actions,  liabilities,  and damages  arising from or
relating to this Agreement,  the Obligations,  or the Collateral,  and all costs
and expenses  (including  attorneys'  fees) incurred by Secured Party in respect
thereof.

     Section 6.02.  No Waiver;  Cumulative  Remedies.  No failure on the part of
Secured Party to exercise and no delay in  exercising,  and no course of dealing
with respect to, any right,  power,  or  privilege  under this  Agreement  shall
operate as a waiver  thereof,  nor shall any single or partial  exercise  of any
right,  power, or privilege  under this Agreement  preclude any other or further
exercise  thereof or the exercise of any other right,  power, or privilege.  The
rights and  remedies  provided  for in this  Agreement  are  cumulative  and not
exclusive of any rights and remedies provided by law.

     Section 6.03.  Successors and Assigns. This Agreement shall be binding upon
and  inure to the  benefit  of Debtor  and  Secured  Party and their  respective
successors,  and assigns, except that Debtor may not assign any of its rights or
obligations  under this Agreement  without the prior written  consent of Secured
Party.

     Section 6.04. Notices. All notices and other communications provided for in
this Agreement shall be given as provided for in the Credit Agreement.

     Section 6.05.  APPLICABLE  LAW; VENUE;  SERVICE OF PROCESS.  THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN  ACCORDANCE  WITH THE LAWS OF THE STATE OF
TEXAS AND THE  APPLICABLE  LAWS OF THE UNITED  STATES OF AMERICA.  ANY ACTION OR
PROCEEDING  AGAINST  DEBTOR UNDER OR IN  CONNECTION  WITH THIS  AGREEMENT OR ANY
OTHER  INSTRUMENT  OR  AGREEMENT  SECURING,   EVIDENCING,  OR  RELATING  TO  THE
OBLIGATIONS  OR ANY PART THEREOF MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT IN
HARRIS COUNTY,  TEXAS. DEBTOR HEREBY IRREVOCABLY (I) SUBMITS TO THE NONEXCLUSIVE
JURISDICTION  OF SUCH  COURTS,  AND  (II)  WAIVES  ANY  OBJECTION  IT MAY NOW OR
HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING  BROUGHT IN SUCH
COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. DEBTOR AGREES THAT SERVICE OF
PROCESS UPON IT MAY BE MADE BY  CERTIFIED OR  REGISTERED  MAIL,  RETURN  RECEIPT
REQUESTED,  AT ITS ADDRESS  SPECIFIED  HEREIN.  NOTHING IN THIS AGREEMENT OR ANY
OTHER  INSTRUMENT  OR  AGREEMENT  SECURING,   EVIDENCING,  OR  RELATING  TO  THE
OBLIGATIONS OR ANY PART THEREOF SHALL AFFECT THE RIGHT OF SECURED PARTY TO SERVE
PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT OF SECURED
PARTY TO BRING ANY ACTION OR PROCEEDING AGAINST DEBTOR OR WITH RESPECT TO ANY OF
THE COLLATERAL IN ANY STATE OR FEDERAL COURT IN ANY OTHER JURISDICTION.

     Section 6.06. Headings.  The headings,  captions,  and arrangements used in
this Agreement are for convenience only and shall not affect the  interpretation
of this Agreement.

     Section   6.07.   Survival   of   Representations   and   Warranties.   All
representations  and  warranties  made in this  Agreement or in any  certificate
delivered  pursuant  hereto  shall  survive the  execution  and delivery of this
Agreement,   and  no   investigation   by  Secured   Party   shall   affect  the
representations and warranties or the right of Secured Party to rely upon them.

     Section 6.08. Counterparts. This Agreement may be executed in any number of
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

     Section  6.09.  Severability.  Any  provision  of this  Agreement  which is
prohibited or unenforceable in any jurisdiction  shall, as to such jurisdiction,
be ineffective to the extent of such  prohibition  or  unenforceability  without
invalidating  the  remaining   provisions  of  this  Agreement,   and  any  such
prohibition  or  unenforceability  in any  jurisdiction  shall not invalidate or
render unenforceable such provision in any other jurisdiction.

     Section 6.10. Construction.  Debtor and Secured Party acknowledge that each
of them has had the  benefit  of legal  counsel  of its own  choice and has been
afforded an opportunity to review this Agreement with its legal counsel and that
this  Agreement  shall be construed as if jointly  drafted by Debtor and Secured
Party.

     Section 6.11.  Obligations  Absolute.  The obligations of Debtor under this
Agreement  shall be  absolute  and  unconditional  and  shall  not be  released,
discharged,  reduced,  or in any way  impaired by any  circumstance  whatsoever,
including,  without  limitation,  any  amendment,  modification,  extension,  or
renewal  of this  Agreement,  the  Obligations,  the  Credit  Agreement,  or any
document  or  instrument  evidencing,  securing,  or  otherwise  relating to the
Obligations,   this  Agreement,   the  Credit  Agreement,   or  any  release  or
subordination  of collateral,  or any waiver,  consent,  extension,  indulgence,
compromise,  settlement,  or  other  action  or  inaction  in  respect  of  this
Agreement, the Obligations,  the Credit Agreement, or any document or instrument
evidencing,  securing, or otherwise relating to the Obligations, or any exercise
or failure to exercise any right, remedy, power, or privilege in respect of this
Agreement, the Credit Agreement, or the Obligations.

     Section 6.12.  Definitions.  Capitalized terms used and not defined in this
Security Agreement have the meanings specified in the Credit Agreement.

     Section 6.13. Benefit of Banks. Debtor agrees and acknowledges that Secured
Party executes this document as a Bank and as the Collateral Agent for the other
Banks  under  that  Credit  Agreement  and  any  and all  rights,  benefits  and
entitlements  under this Agreement in favor of Secured Party are for the benefit
of all Banks under the Credit Agreement.

                            [Signature Page Follows]

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as
of the day and year first written above.

                           DEBTOR:

                           CONTINENTAL RESOURCES, INC.

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

                           SECURED PARTY:

                           GUARANTY BANK, FSB,
                           as Collateral Agent

                           By:  RICHARD MENCHACA
                                Richard Menchaca
                                Vice President

<PAGE>

                                   EXHIBIT "A"

                              PROPERTY DESCRIPTION

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