Document:

Exhibit 10.124

 

THE
COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE
“COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS.  ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE
BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE
COMMISSION.  OMITTED PORTIONS ARE
INDICATED IN THIS EXHIBIT WITH “*****”.

 

 

	
  Sunoco Logistics

  	
   

  	
  Sunoco
  Partners Marketing & Terminals L,P.

  
	
   

  	
   

  	
  1004 N. Big Spring
  Street

  
	
   

  	
   

  	
  Suite 515

  
	
   

  	
   

  	
  Midland, TX 79701

  
	
  December 4, 2006

  	
   

  	
  432 686 7080

  
	
   

  	
   

  	
  Fax 432 687 2641

  

 

Mr. John
Lacik

Square
One Energy

Suite 3200
Unit 25

801
Cherry Street

Fort
Worth, TX 76102

 

Re: Crude Oil Purchase Agreement

 

Sunoco Partners Reference
No. 521329

 

Dear Mr. Lacik:

 

Reference
is made to the above subject Crude Oil Purchase Agreement whereby Sunoco
Partners Marketing & Terminals L.P. will purchase all of the crude oil
and condensate, produced from the lease(s) listed on Exhibit “A”.

 

This confirms
our understanding that by mutual consent said agreement shall be amended as
follows:

 

Term. This
agreement shall remain in effect for a term of one (1) year commencing on November 1,
2006, and from month to month thereafter, unless and until terminated by either
party upon written notice thereof given thirty (30) days in advance of the end
of the primary term of this agreement or any extensions thereof.

 

For
Sunoco Partners’ Properties Except #0092600000, the following paragraph shall read:

 

Price. Effective November 1, 2006, Sunoco
Partners’ posted price for West Central Texas Intermediate crude oil (currently
Sunoco Partners’ Col. 9), in effect on date of delivery, available in Sunoco
Partners Marketing & Terminals L.P. Crude Oil Price Bulletin Summary
as published, modified by the net adjustment. 
Buyer and Seller agree that the net adjustment shall be computed as set
forth in Exhibit “A”.  The Temporary
Marketing Adjustment (T.M.A.) currently equals *****(1) per barrel.

 

For
pricing purposes, the daily volume of crude delivered in each month shall be
determined either by reference to delivery tickets or other records showing
actual daily deliveries of such crude or, in the absence of such records, shall
be deemed to have been delivered in equal daily quantities for each day of the
given month.

 

For
Sunoco Partners’ Property #0092600000, the following paragraph shall read:

 

Price. Effective November 1, 2006, Sunoco
Partners’ posted price for West Texas/New Mexico Intermediate crude oil
(currently Sunoco Partners’ Col. 4), in effect on date of delivery, available
in Sunoco Partners Marketing & Terminals L.P. Crude Oil Price Bulletin
Summary as published, modified by the net adjustment.  Buyer and Seller agree that the net
adjustment shall be 

 

(1) THE COMPANY HAS
REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE
“COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS.  ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE
BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE
COMMISSION.  OMITTED PORTIONS ARE
INDICATED IN THIS EXHIBIT WITH “*****”.

 

 

computed
as set forth in Exhibit “A”.  The
Temporary Marketing Adjustment (T.M.A.) currently equals *****(2) per barrel.

 

For
pricing purposes, the daily volume of crude delivered in each month shall be
determined either by reference to delivery tickets or other records showing
actual daily deliveries of such crude or, in the absence of such records, shall
be deemed to have been delivered in equal daily quantities for each day of the
given month.  Buyer and seller agree for
all leases listed on the attached Exhibit A and any additions thereto
during the term of this agreement, gravity shall be deemed 55o API.

 

Except as hereby specifically modified, all terms and
conditions of said Crude Oil Purchase Agreement shall remain in full force and
effect.

 

If the
foregoing is in accordance with your understanding of our agreement, please
indicate your acceptance and confirm by signing in duplicate and returning one (1) copy
for our files to:

 

	
  Contract Administrator

  
	
  Sunoco Partners Marketing & Terminals L.P.

  
	
  1004 N. Big Spring, Suite 515

  
	
  Midland, Texas 79701

  

 

If we do not receive a signed copy by mail or fax within ten (10) business
days from the date of receipt of this amendment, we will take that as evidence
of your acceptance of this amendment to the above referenced agreement.

 

Agreed and accepted this 8th day of January, 2007.

 

 

	
  SQUARE ONE ENERGY, INC.

  	
   

  	
  SUNOCO PARTNERS MARKETING  & TERMINALS L.P.

  
	
   

  	
   

  	
  By:

  	
   

  	
  Sunoco Logistics
  Partners Operations Gp LLC,

  
	
   

  	
   

  	
  Its General Partner

  
	
  By:

  	
   

  	
  /s/ Michael J. Ricketts

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Michael J. Ricketts

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
  CFO

  	
   

  	
  By:

  	
   

  	
  /s/ David Johnson

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  David C. Johnson, Agent

  
	
  Date

  	
   

  	
  1/8/07

  	
   

  	
  Title

  	
   

  	
  Crude Oil Representative

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Date

  	
   

  
										

 

(2) THE
COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE
“COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS.  ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE
BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE
COMMISSION.  OMITTED PORTIONS ARE
INDICATED IN THIS EXHIBIT WITH “*****”.

 

 

EXHIBIT
“A”

	
  SQUARE
  ONE ENERGY – COPA #521329

  	
   

  	
  REVISION EFFECTIVE: 11/01/2006

  

 

	
  EFF.

  DATE

  	
   

  	
  SUNOCO

  PARTNERS

  PROP. #

  	
   

  	
  LEASE NAME

  	
   

  	
  FIELD

  	
   

  	
  COUNTY/ST

  	
   

  	
  DIVISION

  ORDER

  	
   

  	
  TEMP

  MKTG. ADJ.

  	
   

  	
  (-)

  	
   

  	
  TRANS

  ADJ.

  	
   

  	
  (-)

  	
   

  	
  NET

  ADJ

  	
   

  	
  *****(3)

  	
   

  	
  PRICE*

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  03/01/04

  	
   

  	
  0092600000

  	
   

  	
  DESDEMONA GAS PLNT

  	
   

  	
  DESDEMONA

  	
   

  	
  EASTLAND, TX

  	
   

  	
  100% I

  	
   

  	
  $

  	
  *****

  	
  (3)

  	
   

  	
   

  	
  $

  	
  0.00

  	
   

  	
   

  	
   

  	
  $

  	
  *****

  	
  (3)

  	
   

  	
   

  	
  # SUNOCO PARTNERS WT/NM INT (COL.4)

  	
   

  
	
  03/01/04

  	
   

  	
  4008540000

  	
   

  	
  HOGTOWN-MOORE UNIT

  	
   

  	
  DESDEMONA

  	
   

  	
  EASTLAND, TX

  	
   

  	
  100% E

  	
   

  	
  $

  	
  *****

  	
  (3)

  	
   

  	
   

  	
  $

  	
  0.00

  	
   

  	
   

  	
   

  	
  $

  	
  *****

  	
  (3)

  	
   

  	
   

  	
  SUNOCO PARTNERS WCTINT (COL. 9)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  03/01/04

  	
   

  	
  0106880000**

  	
   

  	
  DESDEMONA FIELD UNIT FACILITY**

  	
   

  	
   

  	
   

  	
  EASTLAND, TX

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  03/01/04

  	
   

  	
  0106890000

  	
   

  	
  DESDEMONA FIELD UT 1202/1203

  	
   

  	
  DESDEMONA

  	
   

  	
  EASTLAND, TX

  	
   

  	
  100% E

  	
   

  	
  $

  	
  *****

  	
  (3)

  	
   

  	
   

  	
  $

  	
  0.00

  	
   

  	
   

  	
   

  	
  $

  	
  *****

  	
  (3)

  	
   

  	
   

  	
  SUNOCO PARTNERS WCTINT (COL. 9)

  	
   

  
	
  03/01/04

  	
   

  	
  40210470000

  	
   

  	
  DESDEMONA FIELD UT (TAXABLE)

  	
   

  	
  DESDEMONA

  	
   

  	
  EASTLAND, TX

  	
   

  	
  100% E

  	
   

  	
  $

  	
  *****

  	
  (3)

  	
   

  	
   

  	
  $

  	
  0.00

  	
   

  	
   

  	
   

  	
  $

  	
  *****

  	
  (3)

  	
   

  	
   

  	
  SUNOCO PARTNERS WCTINT (COL. 9)

  	
   

  

 

(3) THE
COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE
“COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS.  ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE
BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE
COMMISSION.  OMITTED PORTIONS ARE
INDICATED IN THIS EXHIBIT WITH “*****”.

 

#GRAVITY
DEEMED 55 DEGREES

*AS
PUBLISHED IN SUNOCO PARTNERS MARKETING & TERMINALS L.P. CRUDE OIL PRICE
BULLETIN SUMMARY

**FOR
SUNOCO PARTNERS ADMINISTRATIVE PURPOSES ONLYExhibit 10.125

 

THE
COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE
“COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS.  ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE
BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE
COMMISSION.  OMITTED PORTIONS ARE
INDICATED IN THIS EXHIBIT WITH “*****”.

 

 

	
  Sunoco Logistics

  	
   

  	
  Sunoco Partners
  Marketing & Terminals LP

  
	
   

  	
   

  	
  1004
  N. Big Spring Street

  
	
   

  	
   

  	
  Suite 515

  
	
   

  	
   

  	
  Midland,
  TX 79701

  
	
  February 16,
  2009

  	
   

  	
  432  686 7080

  
	
   

  	
   

  	
  Fax
  432 687 2641

  

 

 

Mr. John Lacik

Square One Energy

Suite 3200 Unit 25

801 Cherry Street

Fort Worth, TX 76102

 

	
  Re:

  	
  Crude
  Oil Purchase Agreement

  
	
   

  	
  Sunoco
  Partners Reference No. 521329

  	
   

  

 

Dear Mr. Lacik:

 

Reference is made to the above subject Crude Oil
Purchase Agreement whereby Sunoco Partners Marketing & Terminals L.P. will
purchase all of the crude oil and condensate, produced from the lease(s) listed
on Exhibit “A”.

 

This confirms our understanding that by mutual
consent said agreement shall be amended as follows:

 

Effective December 1, 2008, the following lease
and facility (**) were deleted, as set forth on Exhibit “A”:

 

	
  Property Number

  	
   

  	
  Lease Name

  	
   

  	
  County/ST

  
	
  0106880000**

  	
   

  	
  Desdemona
  Field Unit Facility**

  	
   

  	
  Eastland,
  TX

  
	
  0106890000

  	
   

  	
  Desdemona
  Field UT 1202/1203

  	
   

  	
  Eastland,
  TX

  

 

Effective December 1, 2008, the following lease
was deleted under Desdemona Field Unit
Facility, #0106880000 and returned to a ‘straight lease’ status, as
set forth on Exhibit “A”:

 

	
  Property Number

  	
   

  	
  Lease Name

  	
   

  	
  County/ST

  
	
  402l040000

  	
   

  	
  Desdemona
  Field UT (Taxable)

  	
   

  	
  Eastland,
  TX

  

 

Except as hereby specifically modified, all terms
and conditions of said Crude Oil Purchase Agreement shall remain in full force
and effect.

 

If the foregoing is in accordance with your
understanding of our agreement, please indicate your acceptance and confirm by
signing in duplicate and returning one (1) copy for our files by mail or
fax to:

 

Contract Administrator

Sunoco Partners Marketing &
Terminals L.P.

1004 N. Big Spring, Suite 515

Midland, Texas 79701

(432) 686-7080 / Fax: (432)
687-2641

 

 

If we do not receive a signed copy by mail or fax within ten (10) business
days from the date of receipt of this amendment, we will take that as evidence
of your acceptance of this amendment to the above referenced agreement.

 

Agreed and accepted this 3rd day of March, 2009.

 

	
  SQUARE ONE ENERGY, INC.

  	
   

  	
  SUNOCO PARTNERS MARKETING  & TERMINALS L.P.

  
	
   

  	
   

  	
  By:

  	
   

  	
  Sunoco Logistics Partners
  Operations Gp LLC,

  
	
   

  	
   

  	
  Its General Partner

  
	
  By:

  	
   

  	
  /s/ Patrick M. McKinney

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Patrick M. McKinney

  	
   

  	
  By:

  	
   

  	
  /s/ David Johnson

  
	
  Title:

  	
   

  	
  VP of Operations

  	
   

  	
   

  	
   

  	
  David C. Johnson, Agent

  
	
   

  	
   

  	
   

  	
   

  	
  Title

  	
   

  	
  Crude Oil
  Representative

  
	
  Date

  	
   

  	
  03/03/2009

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Date

  	
   

  	
  02/17/2009

  

 

 

EXHIBIT
“A”

 

	
  SQUARE
  ONE ENERGY – COPA #521329

  	
   

  	
  REVISION EFFECTIVE: 12/01/2008

  

 

	
  EFF.

  DATE

  	
   

  	
  SUNOCO

  PARTNERS

  PROP. #

  	
   

  	
  LEASE NAME

  	
   

  	
  FIELD

  	
   

  	
  COUNTY/ST

  	
   

  	
  DIVISION

  ORDER

  	
   

  	
  TEMP

  MKTG. ADJ.

  	
   

  	
  (-)

  	
   

  	
  TRANS

  ADJ.

  	
   

  	
  (=)

  	
   

  	
  NET

  ADJ

  	
   

  	
  *****(1)

  	
   

  	
  PRICE*

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  03/01/04

  	
   

  	
  0092600000

  	
   

  	
  DESDEMONA GAS PLNT

  	
   

  	
  DESDEMONA

  	
   

  	
  EASTLAND, TX

  	
   

  	
  100 E%

  	
   

  	
  $

  	
  *****

  	
  (1)

  	
   

  	
   

  	
  $

  	
  0.00

  	
   

  	
   

  	
   

  	
  $

  	
  *****

  	
  (1)

  	
   

  	
   

  	
  # SUNOCO PARTNERS WT/NM INT (COL.4)

  	
   

  
	
  03/01/04

  	
   

  	
  4008540000

  	
   

  	
  HOGTOWN-MOORE UNIT

  	
   

  	
  DESDEMONA

  	
   

  	
  EASTLAND, TX

  	
   

  	
  100 E%

  	
   

  	
  $

  	
  *****

  	
  (1)

  	
   

  	
   

  	
  $

  	
  0.00

  	
   

  	
   

  	
   

  	
  $

  	
  *****

  	
  (1)

  	
   

  	
   

  	
  SUNOCO PARTNERS WCTINT (COL. 9)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  03/01/04

  	
   

  	
  40210470000

  	
   

  	
  DESDEMONA FIELD UT (TAXABLE)

  	
   

  	
  DESDEMONA

  	
   

  	
  EASTLAND, TX

  	
   

  	
  100 E%

  	
   

  	
  $

  	
  *****

  	
  (1)

  	
   

  	
   

  	
  $

  	
  0.00

  	
   

  	
   

  	
   

  	
  $

  	
  *****

  	
  (1)

  	
   

  	
   

  	
  SUNOCO PARTNERS WCTINT (COL. 9)

  	
   

  

 

(1) THE COMPANY HAS
REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”)
PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED,
GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS.  ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE
BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE
COMMISSION.  OMITTED PORTIONS ARE
INDICATED IN THIS EXHIBIT WITH “*****”.

 

#GRAVITY
DEEMED 55 DEGREES

*AS
PUBLISHED IN SUNOCO PARTNERS MARKETING & TERMINALS L.P. CRUDE OIL PRICE
BULLETIN SUMMARY

**FOR
SUNOCO PARTNERS ADMINISTRATIVE PURPOSES ONLY

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