Document:

<PAGE>

                                                                   Exhibit 10.11

                            STOCK TRANSFER AGREEMENT

                                  by and among

                           GRYPHON EXPLORATION COMPANY

                        CHENIERE-GRYPHON MANAGEMENT, INC.

                                       and

                              CHENIERE ENERGY, INC.

                           Dated as of March 19, 2002
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                            Page
                                                                                                            ----
<S>                  <C>                                                                                      <C>
ARTICLE I.           DEFINITIONS..............................................................................1
   Section 1.1.          Definitions..........................................................................1
   Section 1.2.          Accounting Terms and Determinations..................................................1

ARTICLE II.          THE SALE OF THE SHARES AND ASSUMPTION OF ASSUMED LIABILITIES.............................1
   Section 2.1.          Sale of Shares.......................................................................1
   Section 2.2.          Purchase Price; Assumption of the Assumed Liabilities................................2

ARTICLE III.         THE STOCK OPTION.........................................................................2
   Section 3.1.          The Option...........................................................................2
   Section 3.2.          Exercise of the Option...............................................................3
   Section 3.3.          The Option Closing...................................................................3
   Section 3.4.          Adjustment of Option Shares and Per Share Exercise Price.............................4
   Section 3.5.          No Rights as Stockholder; No Beneficial Ownership Prior to the
                            Option Closing for Purposes of the Contribution Agreement
                            and the Stockholders Agreement....................................................4

ARTICLE IV.          REPRESENTATIONS AND WARRANTIES OF HOLDER.................................................4
   Section 4.1.          Organization of Holder...............................................................4
   Section 4.2.          Authority and Binding Effect.........................................................5
   Section 4.3.          No Conflict or Violation; Consents...................................................5
   Section 4.4.          Status of Assumed Liabilities........................................................6
   Section 4.5.          Title to the Shares..................................................................6
   Section 4.6.          Litigation...........................................................................6
   Section 4.7.          Investment Representations...........................................................6

ARTICLE V.           REPRESENTATIONS AND WARRANTIES OF THE COMPANY............................................7
   Section 5.1.          Organization of the Company..........................................................7
   Section 5.2.          Authority and Binding Effect.........................................................7
   Section 5.3.          No Conflict or Violation; Consents...................................................8
   Section 5.4.          Litigation...........................................................................8
   Section 5.5.          Option Shares........................................................................9

ARTICLE VI.          CONDITIONS TO THE COMPANY'S OBLIGATIONS..................................................9
   Section 6.1.          Representations and Warranties.......................................................9
   Section 6.2.          Compliance with Agreement............................................................9
   Section 6.3.          Certificate..........................................................................9
   Section 6.4.          No Governmental Restraints...........................................................9
</TABLE>

                                       (i)
<PAGE>

                                TABLE OF CONTENTS
                                   (continued)

<TABLE>
<CAPTION>
                                                                                                            Page
                                                                                                            ----
<S>                  <C>                                                                                     <C>
ARTICLE VII.         MISCELLANEOUS PROVISIONS.................................................................9
   Section 7.1.          Notices..............................................................................9
   Section 7.2.          Amendments..........................................................................10
   Section 7.3.          Assignment and Parties in Interest..................................................10
   Section 7.4.          Expenses............................................................................10
   Section 7.5.          Entire Agreement....................................................................10
   Section 7.6.          Descriptive Headings................................................................11
   Section 7.7.          Counterparts........................................................................11
   Section 7.8.          Governing Law; Jurisdiction; Expenses...............................................11
   Section 7.9.          Construction........................................................................11
   Section 7.10.         Severability........................................................................11
   Section 7.11.         Survival............................................................................11
   Section 7.12.         Announcements; Confidentiality......................................................12
   Section 7.13.         Waiver of Stockholders Agreement....................................................12
</TABLE>

                                      (ii)
<PAGE>

SCHEDULE
NUMBER     SCHEDULE NAME

AL         Assumed Liabilites
4.4        Status of Assumed Liabilities
4.6        Litigation

EXHIBIT    EXHIBIT NAME

A          Definitions
B          Form of Exercise Notice
C          Form of Settlement Agreement and Mutual Release

                                      (iii)
<PAGE>

                            STOCK TRANSFER AGREEMENT

          This STOCK TRANSFER AGREEMENT, dated as of March 19, 2002 (this
"Agreement"), is made and entered into by and between, Gryphon Energy Company, a
Delaware corporation (the "Company"), Cheniere-Gryphon Management, Inc., a
Delaware corporation ("CGMI") and Cheniere Energy, Inc., a Delaware corporation
("CHEX" and together with CGMI, the "Holder").

          WHEREAS, Holder contributed certain assets to the Company pursuant to
that certain Contribution and Subscription Agreement, dated as of September 15,
2000 (the "Contribution Agreement") in exchange for 145,590 shares of Common
Stock (the "Contribution");

          WHEREAS, in connection with the Contribution, Holder agreed to pay
certain transfer fees, consent payments, and continuing royalties to certain
third parties;

          WHEREAS, the Holder desires that the Company assume certain of those
payment obligations in exchange for the surrender of 51,400 shares of Common
Stock subject to a repurchase option on the terms and subject to the condition
set forth herein, and the Company is willing to assume such payment obligations
on the terms and subject to the obligations set forth herein;

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

                                   ARTICLE I.

                                   DEFINITIONS

          Section 1.1. Definitions. In addition to the terms defined elsewhere
herein, the terms defined in the introductory paragraph and the Recitals to this
Agreement shall have the respective meanings specified therein, and the terms
set forth in Exhibit A hereto shall have the meanings specified in Exhibit A
when used herein with initial capital letters.

          Section 1.2. Accounting Terms and Determinations. Unless otherwise
specified herein, all accounting terms used herein shall be interpreted, all
determinations with respect to accounting matters hereunder shall be made, and
all financial statements and certificates and reports as to financial matters
required to be furnished hereunder shall be prepared, in accordance with
generally accepted accounting principles as in effect in the U.S.

                                   ARTICLE II.

          THE SALE OF THE SHARES AND ASSUMPTION OF ASSUMED LIABILITIES

          Section 2.1. Sale of Shares. On the terms and subject to the
conditions set forth in this Agreement, concurrent with the execution of this
Agreement:
<PAGE>

          (a) The Company shall purchase from Holder, and Holder shall sell,
     transfer, assign, convey and deliver to the Company, 51,400 shares of
     Common Stock (the "Shares") free and clear of all Liabilities and Liens.

          (b) Holder shall deliver to the Company or its designees certificates
     representing the Shares, duly endorsed in blank for transfer or accompanied
     by appropriate powers duly executed in blank. To the extent the certificate
     delivered by Holder is for a greater number of shares of Common Stock than
     the Shares, the Company shall return to Holder a certificate for the shares
     of Common Stock not being transferred pursuant to the terms of this
     Agreement.

          Section 2.2. Purchase Price; Assumption of the Assumed Liabilities.

          (a) The purchase price for the Shares shall be the assumption by the
     Company of the Assumed Liabilities.

          (b) On the terms and subject to the conditions set forth in this
     Agreement, concurrent with the execution of this Agreement the Company
     shall assume and become responsible for all of the Assumed Liabilities and
     agrees to be bound by the provisions of the Assumed Liabilities Contract
     relating to the Assumed Liabilities as if it were named as a party thereto
     in the place of Holder, excluding the Excluded Liabilities.

          (c) From and after the date hereof, the Company shall have the sole
     and exclusive power to direct the payment, satisfaction, settlement or
     compromise of the Assumed Liabilities; provided that such payment,
     satisfaction, settlement or compromise does not increase any of Holder's
     other obligations or liabilities under the applicable agreement, and Holder
     shall cooperate with any reasonable direction of the Company with respect
     thereto, including, executing a settlement agreement and mutual release of
     the obligee of the Assumed Liability described in Item 1 of Schedule AL
     (which may be in the form of Exhibit C hereto) in exchange for a release of
     Holder from such Assumed Liability. To the extent any Assumed Liability is
     subject to, or conditioned upon, the acceptance of any data, the Company
     shall have the sole and exclusive right to accept or reject such data,
     which decision shall be binding upon Holder. Without limiting the
     foregoing, Holder shall not enter into or waive, amend, terminate or
     otherwise modify any arrangement, agreement, understanding, or contract,
     whether written or oral, relating to the Assumed Liabilities (an "Assumed
     Liabilities Contract").

                                  ARTICLE III.

                                THE STOCK OPTION

          Section 3.1. The Option.

          (a) At any time, and from time to time, from the date hereof through
     and including March 16, 2003 (the "Expiration Date"), Holder shall have the
     right (the "Option") to purchase from the Company, upon the terms and
     subject to the conditions of this Agreement, up to 51,400 shares of Common
     Stock (the "Option Shares") for a per

                                      -2-
<PAGE>

     share purchase price, in cash, equal to the Per Share Exercise Price on the
     Option Closing Date.

          (b) The "Per Share Exercise Price" as of any Option Closing Date shall
     be calculated as follows:

               (i) For any Option Closing Date occurring from the date hereof
          through, but not including July 18, 2002 (the "Flipover Date"), an
          amount per share of Common Stock equal to $50.00.

               (ii) For any Option Closing Date occurring on the Flipover Date
          an amount per share of Common Stock equal to $55.8443.

               (iii) For any Option Closing Date occurring after the Flipover
          Date an amount per share of Common Stock equal to the sum of (x)
          $55.8443, and (y) the product of (A) $.0483, and (B) the number of
          days elapsed since the Flipover Date.

          Section 3.2. Exercise of the Option. Holder may exercise the Option by
delivering an exercise notice at least (10) Business Days prior to the proposed
Option Closing Date (which may be no later than the Expiration Date)
substantially in the form of Exhibit B hereto (an "Exercise Notice"). Each
Exercise Notice shall constitute a representation and warranty by Holder that
all of the conditions to the Company's obligation to issue the Option Shares set
forth in Article VI hereof (other than the delivery of the Certificate required
by Section 6.3) have been satisfied.

          Section 3.3. The Option Closing.

          (a) Subject to the satisfaction of the conditions set forth in Article
     VI, the closing of the purchase of the Option Shares (the "Option Closing")
     shall occur at 10:00 a.m. local time on the date set forth in the Exercise
     Notice or at such other time as the parties hereto shall mutually agree
     (the "Option Closing Date"). The Option Closing shall occur at the offices
     of the Company's counsel or at such other location as the parties hereto
     shall mutually agree.

          (b) On the Option Closing Date, the Company shall deliver to Holder a
     certificate for the Option Shares so purchased, free and clear of all
     Liens, other than the restrictions imposed by the Company's Stockholders
     Agreement, dated as of October 11, 2000, as the same may be amended in
     accordance with its terms (the "Stockholders Agreement") and restrictions
     on transfer arising under federal and state securities laws. Holder
     acknowledges that any Option Shares acquired shall be subject to the
     restrictions of the Stockholders Agreement.

          (c) On the Option Closing Date, Holder shall deliver to the Company,
     by wire transfer of immediately available funds, an amount equal to product
     of the number of Option Shares purchased and the Per Share Exercise Price.

                                      -3-
<PAGE>

          Section 3.4. Adjustment of Option Shares and Per Share Exercise Price.

          (a) In case the Company shall at any time subdivide its outstanding
     shares of Common Stock into a greater number of shares (by stock dividend
     on the Common Stock or otherwise), the Per Share Exercise Price shall be
     proportionately reduced and the number of Option Shares shall be
     proportionately increased such that on the Option Closing Date the Holder
     shall receive the number of shares of Common Stock for an aggregate Per
     Share Exercise Price as the Holder would have received if such subdivision
     had occurred immediately after the Option Closing. In case the Company
     shall at any time combine its outstanding shares of Common Stock into a
     smaller number of shares, the Per Share Exercise Price shall be
     proportionately increased and the number of Option Shares shall be
     proportionately reduced such that on the Option Closing Date the Holder
     shall receive the number of shares of Common Stock for an aggregate Per
     Share Exercise Price as the Holder would have received if such combination
     had occurred immediately after the Option Closing.

          (b) If any capital reorganization or reclassification of the capital
     stock of the Company, or consolidation or merger of the Company with
     another entity shall be effected in such a way that holders of Common Stock
     shall be entitled to receive stock, securities, cash or other property with
     respect to or in exchange for Common Stock, then, as a condition of such
     reorganization, reclassification, consolidation, merger or sale, lawful and
     adequate provision shall be made whereby Holder shall have the right to
     acquire and receive upon exercise of the Option for each Option Share such
     shares of stock, securities, cash or other property issuable or payable (as
     part of the reorganization, reclassification, consolidation, merger or
     sale) as would have been received if the Holder had held such Option Share
     immediately prior to such transaction.

          Section 3.5. No Rights as Stockholder; No Beneficial Ownership Prior
to the Option Closing for Purposes of the Contribution Agreement and the
Stockholders Agreement. Holder shall have no rights as a stockholder and shall
not be deemed to beneficially own any of the Option Shares prior to the Option
Closing with respect to such shares of Common Stock for all purposes, including
the Stockholders Agreement and the Contribution Agreement. For the avoidance of
doubt, in calculating the "Pro Rata Portion" pursuant to the Contribution
Agreement and the "Fully-Diluted Common Stock" pursuant to the Stockholders
Agreement, the Option Shares shall be disregarded and not be deemed to be
outstanding or beneficially owned until after the Option Closing with respect to
such Option Shares shall have occurred.

                                   ARTICLE IV.

                    REPRESENTATIONS AND WARRANTIES OF HOLDER

          Each of CGMI and CHEX, jointly and severally represents and warrants
to the Company as of the date hereof and as of each Option Closing Date as
follows:

          Section 4.1. Organization of Holder. Each of CGMI and CHEX is a
corporation duly organized, validly existing, and in good standing under the
laws of the State of

                                      -4-
<PAGE>

Delaware. Each of CGMI and CHEX has the requisite corporate power and authority
to own its properties and to conduct its business as presently conducted.

          Section 4.2. Authority and Binding Effect.

          (a) The execution and delivery of this Agreement by each of CGMI and
     CHEX, the performance by each of CGMI and CHEX of its obligations hereunder
     and the consummation by each of CGMI and CHEX of the transactions
     contemplated hereby (the "Transactions") have been duly authorized by the
     board of directors of each of CGMI and CHEX, and no other corporate
     proceedings on the part of each of CGMI and CHEX are necessary to authorize
     this Agreement or the Transactions.

          (b) This Agreement has been duly executed and delivered by each of
     CGMI and CHEX, and (assuming due authorization, execution and delivery by
     the Company) this Agreement constitutes a legal, valid and binding
     obligation of each of CGMI and CHEX enforceable against each of CGMI and
     CHEX in accordance with its terms, except as enforcement may be limited by
     applicable bankruptcy, insolvency, moratorium, or similar laws from time to
     time in effect which affect creditors' rights generally and by legal and
     equitable limitations on the enforceability of specific remedies.

          Section 4.3. No Conflict or Violation; Consents. Neither the execution
and delivery of this Agreement nor the consummation or performance of any of the
Transactions will, directly or indirectly (with or without notice or lapse of
time):

          (a) contravene, conflict with, or result in a violation of (i) any
     provision of the certificate of incorporation or by-laws of either of CGMI
     or CHEX, or (ii) any resolution adopted by the board of directors or the
     stockholders of either of CGMI or CHEX;

          (b) contravene, conflict with, or result in a violation of, or give
     any Governmental Agency or other Person the right to challenge the
     Transactions or to exercise any remedy or obtain any relief under, any
     Legal Requirement to which either of CGMI or CHEX or any of the assets
     owned or used by either of CGMI or CHEX, may be subject;

          (c) contravene, conflict with, or result in a violation of any of the
     terms or requirements of, or give any Governmental Agency the right to
     revoke, withdraw, suspend, cancel, terminate, or modify, any Permit that is
     held by either of CGMI or CHEX or that otherwise relates to the business
     of, or any of the assets owned or used by, either of CGMI or CHEX;

          (d) contravene, conflict with, or result in a violation or breach of
     any provision of, or give any Person the right to declare a default or
     exercise any remedy under, or to accelerate the maturity or performance of,
     or to cancel, terminate, or modify, or to receive any additional
     consideration under any contract or Permit to which either of CGMI or CHEX
     is a party or subject; or

          (e) require the consent, approval, or authorization of, or
     registration or filing with, any Governmental Agency or any other Person.

                                      -5-
<PAGE>

          Section 4.4. Status of Assumed Liabilities.

          (a) Schedule 4.4 sets forth a list of all of the Assumed Liabilities
     Contracts.

          (b) Except as set forth in Schedule 4.4, as of the date hereof:

               (i) each of CGMI and CHEX has performed all material obligations
          required to be performed by it to date under each of the Assumed
          Liabilities Contracts and with respect to each of the Assumed
          Liabilities.

               (ii) Neither CGMI, CHEX nor, to each of their knowledge, any
          other party thereto is in material breach of or default under any
          Assumed Liabilities Contract.

          (c) CGMI and CHEX have delivered to the Company a true, correct, and
     complete copy of each Assumed Liabilities Contract, and any notice or other
     communication received with respect to, the Assumed Liabilities.

          Section 4.5. Title to the Shares. As of the date hereof, CGMI is the
sole record owner and CGMI and CHEX are the sole beneficial owners of the
Shares, free and clear of any Liabilities or Liens, other than the restrictions
imposed by the Stockholders Agreement and restrictions on transfer arising under
federal and state securities laws.

          Section 4.6. Litigation. Except as set forth in Schedule 4.6, there
are no claims, actions, suits, proceedings, or investigations pending or to
Holder's knowledge threatened before any Governmental Agency brought by or
against the Holder or any of its officers, directors, employees, agents or
Affiliates either (a) involving, affecting or relating to the Assumed
Liabilities or the Shares or (b) which if adversely determined would reasonably
be expected to have a material adverse effect on the ability of Holder to
perform its obligations under this Agreement.

          Section 4.7. Investment Representations. As of the date hereof:

          (a) Holder is familiar with the business and financial condition,
     properties, operations and prospects of the Company.

          (b) Holder and its advisors have had an opportunity to ask questions
     of, and to receive information from, the Company and persons acting on its
     behalf concerning the terms and conditions of the investment in the Option
     Shares, and to obtain any additional information necessary to verify the
     accuracy of the information and data received by Holder. Holder has
     received all the information concerning the condition, properties,
     operations and prospects of the Company it considers necessary or
     appropriate for deciding whether to purchase the Option Shares.

          (c) Holder has made, either alone or together with its advisors, such
     independent investigation of the Company, its management, and related
     matters as Holder deems to be, or Holder's advisors have advised to be,
     necessary or advisable in connection with the investment in the Option
     Shares.

                                      -6-
<PAGE>

          (d) Holder understands that the purchase of the Option Shares involves
     various risks, including, among others, that it is unlikely that any market
     will exist for any resale of the Option Shares and that the Option Shares
     will be subject to the provisions of the Stockholders Agreement.

          (e) Holder has carefully reviewed all documents furnished to it in
     connection with the investment in the Option Shares contemplated hereby,
     and acknowledges that no representations or warranties have been made to
     Holder or its representatives by the Company or its Affiliates,
     representatives or advisors concerning the Option Shares, the Company, its
     Affiliates or their prospects or other related matters except as set forth
     in this Agreement.

          (f) Holder has such knowledge and experience in financial and business
     matters that it is capable of evaluating the merits and risks of the
     investment represented by the Option Shares. Holder is able to bear the
     economic risk of the purchase of the Option Shares made pursuant to this
     Agreement (including the complete loss of its investment). Holder has
     determined that this investment is suitable for it in light of its
     financial circumstances and available investment opportunities, and any
     legal restrictions applicable to it. Holder has reviewed, to the extent it
     deemed advisable, the merits of an investment in the Option Shares with tax
     and legal counsel and with an investment advisor. Holder is an "accredited
     investor" within the meaning of the Securities Act of 1933, as amended (the
     "Securities Act").

          (g) It is acquiring the Option Shares for its own account for
     investment and not with a view towards the resale, transfer or distribution
     thereof, nor with any present intention of distributing the Option Shares,
     but subject, nevertheless, to any requirement of law that the disposition
     of the Holder's property shall at all times be within the Holder's control,
     and without prejudice to Holder's right at all times to sell or otherwise
     dispose of all or any part of such securities under a registration under
     the Securities Act or under an exemption from said registration available
     under the Securities Act.

                                   ARTICLE V.

                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY

          The Company represents and warrants to Holder as of the date hereof
and as of each Option Closing Date as follows:

          Section 5.1. Organization of the Company. The Company is a corporation
duly organized, validly existing, and in good standing under the laws of the
State of Delaware. The Company has the requisite corporate power and authority
to own its properties and to conduct its business as presently conducted.

          Section 5.2. Authority and Binding Effect.

          (a) The execution and delivery of this Agreement by the Company, the
     performance by the Company of its obligations hereunder and the
     consummation by the Company of the Transactions have been duly authorized
     by the board of directors of the

                                      -7-
<PAGE>

     Company, and no other corporate proceedings on the part of the Company are
     necessary to authorize this Agreement or the Transactions.

          (b) This Agreement has been duly executed and delivered by the
     Company, and (assuming due authorization, execution and delivery by Holder)
     this Agreement constitutes a legal, valid and binding obligation of the
     Company enforceable against the Company in accordance with its terms,
     except as enforcement may be limited by applicable bankruptcy, insolvency,
     moratorium, or similar laws from time to time in effect which affect
     creditors' rights generally and by legal and equitable limitations on the
     enforceability of specific remedies.

          Section 5.3. No Conflict or Violation; Consents. Neither the execution
and delivery of this Agreement nor the consummation or performance of any of the
Transactions will, directly or indirectly (with or without notice or lapse of
time):

          (a) contravene, conflict with, or result in a violation of (i) any
     provision of the certificate of incorporation or by-laws of the Company, or
     (ii) any resolution adopted by the board of directors or the stockholders
     of the Company;

          (b) contravene, conflict with, or result in a violation of, or give
     any Governmental Agency or other Person the right to challenge the
     Transactions or to exercise any remedy or obtain any relief under, any
     Legal Requirement to which the Company or any of the assets owned or used
     by the Company, may be subject;

          (c) contravene, conflict with, or result in a violation of any of the
     terms or requirements of, or give any Governmental Agency the right to
     revoke, withdraw, suspend, cancel, terminate, or modify, any Permit that is
     held by the Company or that otherwise relates to the business of, or any of
     the assets owned or used by, the Company;

          (d) contravene, conflict with, or result in a violation or breach of
     any provision of, or give any Person the right to declare a default or
     exercise any remedy under, or to accelerate the maturity or performance of,
     or to cancel, terminate, or modify, or to receive any additional
     consideration under any contract or Permit to which the Company is a party
     or subject; or

          (e) require the consent, approval, or authorization of, or
     registration or filing with, any Governmental Agency or any other Person.

          Section 5.4. Litigation. There are no claims, actions, suits,
proceedings, or investigations pending or to the Company's knowledge threatened
before any Governmental Agency brought by or against the Company which if
adversely determined would reasonably be expected to have a material adverse
effect on the ability of the Company to perform its obligations under this
Agreement.

                                      -8-
<PAGE>

          Section 5.5. Option Shares.

          (a) The Company has reserved sufficient shares for issuance to Holder
     pursuant to the terms of this Agreement (including upon any adjustment
     pursuant to Section 3.4).

          (b) Upon issuance, sale and delivery as contemplated by this
     Agreement, the Option Shares will be duly authorized, validly issued, fully
     paid and non-assessable shares of the Company, free of (i) preemptive
     rights, and (ii) all Liens created by the Company other than the
     restrictions of the Stockholders Agreement.

                                   ARTICLE VI.

                     CONDITIONS TO THE COMPANY'S OBLIGATIONS

          The obligation of the Company to issue the Option Shares is subject to
the satisfaction (unless waived in writing by the Company) of each of the
following conditions on or prior to the Option Closing Date:

          Section 6.1. Representations and Warranties. The representations and
warranties of Holder contained in this Agreement shall be true and correct on
and as of the Option Closing Date as though such representations and warranties
were made anew on and as of the Option Closing Date (except to the extent such
representations and warranties speak as of a specified date, in which case, such
representations and warranties shall be true and correct as of such specified
date).

          Section 6.2. Compliance with Agreement. Holder shall have performed
and complied with all covenants to be performed or complied with by it under
this Agreement and under each other agreement to which Holder, on the one hand,
and the Company or any stockholder of the Company, on the other hand, is party,
on or prior to the Option Closing Date.

          Section 6.3. Certificate. Holder shall have delivered to the Company a
certificate of its President or a Vice President, dated the Option Closing Date,
as to the satisfaction of the conditions set forth in Sections 6.1 and 6.2.

          Section 6.4. No Governmental Restraints. No temporary restraining
order, preliminary or permanent injunction or other order issued by any court of
competent jurisdiction or other legal restraint or prohibition preventing the
consummation of the purchase and sale of the Option Shares shall be threatened
or shall be in effect.

                                  ARTICLE VII.

                            MISCELLANEOUS PROVISIONS

          Section 7.1. Notices. All notices, demands or other communications to
be given or delivered under or by reason of the provisions of this Agreement
shall be in writing and shall be deemed to have been given (a) when delivered
personally to the recipient, (b) one Business Day after the date when sent to
the recipient by reputable express courier service

                                      -9-
<PAGE>

(charges prepaid), or (c) seven Business Days after the date when mailed to the
recipient by certified or registered mail, return receipt requested and postage
prepaid. Such notices, demands and other communications shall be sent to the
Company and to Holder at the addresses indicated below:

     If to the Company:                Gryphon Exploration Company
                                       1200 Smith, Suite 1700
                                       Houston, Texas 77002
                                       Attention:
                                       Facsimile Number:  (713) 571-1700

     If to Holder:                     Cheniere Energy, Inc.
                                       Three Allen Center
                                       333 Clay Street, Suite 3400
                                       Houston, Texas 77002-4102
                                       Attention:  Mr. Charif Souki
                                       Facsimile Number:  (713) 659-5459

or to such other address as either party hereto may, from time to time,
designate in writing delivered pursuant to the terms of this Section.

          Section 7.2. Amendments. The terms, provisions and conditions of this
Agreement may not be changed, modified, waived or amended in any manner except
by an instrument in writing duly executed by the Company and Holder.

          Section 7.3. Assignment and Parties in Interest. Neither this
Agreement nor any of the rights, duties, or obligations of any party hereunder
may be assigned or delegated (by operation of law or otherwise) by any party
hereto except with the prior written consent of the other party hereto. This
Agreement shall not confer any rights or remedies upon any person or entity
other than the parties hereto and their respective permitted successors and
assigns.

          Section 7.4. Expenses. Except as expressly set forth in this
Agreement, each party to this Agreement shall bear all of its legal and other
expenses incurred by it or on its behalf in connection with the Transactions,
whether or not such transactions are consummated.

          Section 7.5. Entire Agreement. This Agreement constitutes the entire
agreement among the parties hereto with respect to the subject matter hereof,
supersedes and is in full substitution for any and all prior agreements and
understandings among them relating to such subject matter, and no party shall be
liable or bound to the other parties hereto in any manner with respect to such
subject matter by any warranties, representations, indemnities, covenants, or
agreements except as specifically set forth herein. The Exhibits and Schedules
to this Agreement are hereby incorporated and made a part hereof and are an
integral part of this Agreement.

                                      -10-
<PAGE>

          Section 7.6. Descriptive Headings. The descriptive headings of the
several sections of this Agreement are inserted for convenience only and shall
not control or affect the meaning or construction of any of the provisions
hereof.

          Section 7.7. Counterparts. For the convenience of the parties, any
number of counterparts of this Agreement may be executed by any one or more
parties hereto, and each such executed counterpart shall be, and shall be deemed
to be, an original, but all of which shall constitute, and shall be deemed to
constitute, in the aggregate but one and the same instrument.

          Section 7.8. Governing Law; Jurisdiction; Expenses. This Agreement and
the legal relations between the parties hereto shall be governed by and
construed in accordance with the laws of the State of Delaware, applicable to
contracts made and performed therein. Any action or proceeding seeking to
enforce any provision of, or based on any right arising out of, this Agreement
may only be brought against any of the parties in the courts of the State of New
York, County of New York, or, if it has or can acquire jurisdiction, in the
United States District Court for the Southern District of New York, and each of
the parties consents to the jurisdiction of such courts (and of the appropriate
appellate courts) in any such action or proceeding and waives any objection to
venue laid therein. Process in any action or proceeding referred to in the
preceding sentence may be served on any party anywhere in the world. In any
action based upon a breach of this Agreement, the prevailing party shall be
entitled to recover all reasonable attorney's fees and litigation costs expended
in connection with such litigation from the party in breach of the Agreement.

          Section 7.9. Construction. The language used in this Agreement will be
deemed to be the language chosen by the parties to express their mutual intent,
and no rule of strict construction will be applied against any party. Any
references to any federal, state, local or foreign statute or law will also
refer to all rules and regulations promulgated thereunder, unless the context
requires otherwise. Unless the context otherwise requires: (a) a term has the
meaning assigned to it by this Agreement; (b) including means "including but not
limited to"; (c) "or" is disjunctive but not exclusive; (d) words in the
singular include the plural, and in the plural include the singular; and (e) "$"
or "dollars" means the currency of the United States of America; all amounts
payable under this Agreement shall be paid in dollars.

          Section 7.10. Severability. In the event that any one or more of the
provisions contained in this Agreement or in any other instrument referred to
herein, shall, for any reason, be held to be invalid, illegal or unenforceable
in any respect, then to the maximum extent permitted by law, such invalidity,
illegality or unenforceability shall not affect any other provision of this
Agreement or any other such instrument. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall
be added as a part of this Agreement a provision as similar in terms to such
invalid or unenforceable provision as may be possible and be valid and
enforceable.

          Section 7.11. Survival. All of the representations, warranties,
covenants and agreements of the Company and Holder contained in this Agreement
or in any certificate delivered by Holder shall survive the Transactions and
each Option Closing.

                                      -11-
<PAGE>

          Section 7.12. Announcements; Confidentiality. Holder shall not
publicly disclose the terms of this Agreement, except (a) to the obligees of the
Assumed Liabilities and (b) that Holder may disclose and publicly file the
Agreement, but not the Schedules; provided, however, that Holder may disclose or
publicly file the Schedules to the extent Holder believes in good faith that
such disclosure or filing of the Schedules is required by law, regulation or
rule of any stock exchange on which its securities are traded (in which case
Holder shall use reasonable efforts to advise the Company prior to making such
disclosure and to provide the Company a reasonable opportunity to review the
proposed disclosure).

          Section 7.13. Waiver of Stockholders Agreement. Holder and the Company
agree to waive the provisions of Sections 2.2, 2.4, 3.3 and 3.4 of the
Stockholders Agreement to the extent that such provisions would be applicable to
the Transactions. The Company represents and warrants that it has obtained a
corresponding waiver from the Group A Holders who own at least a majority of the
Fully-Diluted Common Stock held by all Group A Holders (as such terms are
defined in the Stockholders Agreement).

     [Remainder of page intentionally left blank.]

                                      -12-
<PAGE>

          IN WITNESS WHEREOF, the undersigned have executed and delivered this
Agreement as of the day and year first written above.

                                         GRYPHON EXPLORATION COMPANY

                                         By:
                                             -----------------------------------
                                             Name:
                                             Title:

                                         CHENIERIE-GRYPHON MANAGEMENT, INC.

                                         By:
                                             -----------------------------------
                                             Name:
                                             Title:

                                         CHENIERIE ENERGY, INC.

                                         By:
                                             -----------------------------------
                                             Name:
                                             Title:

                                      -13-<PAGE>

                                                                   EXHIBIT 10.20

                      SIXTH AMENDMENT TO CREDIT AGREEMENT

     This SIXTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment") executed
effective as of the 31st day of January, 2002 (the "Sixth Amendment Effective
Date"), is by and among ATP OIL & GAS CORPORATION, a corporation formed under
the laws of the State of Texas (the "Borrower"); each of the lenders that is a
signatory hereto or which becomes a signatory hereto and to the hereinafter
described Credit Agreement as provided in Section 12.06 of the Credit Agreement
(individually, together with its successors and assigns, a "Lender" and
collectively, the "Lenders"); and UNION BANK OF CALIFORNIA, N.A., a national
banking association as agent for the Lenders (in such capacity, together with
any successors in such capacity, the "Administrative Agent").

                                R E C I T A L S

     A.  The Borrower, the Administrative Agent and the Lenders are parties to
that certain Credit Agreement dated as of April 27, 2001 as amended and
supplemented by that certain (i) First Amendment to Credit Agreement dated as of
June 29, 2001, (ii) Second Amendment to Credit Agreement dated as of June 29,
2001, (iii) Third Amendment to Credit Agreement dated as of June 30, 2001, (iv)
Fourth Amendment to Credit Agreement dated as of October 1, 2001, and (v) Fifth
Amendment to Credit Agreement dated as of November 5, 2001 (as so amended, the
"Credit Agreement"), pursuant to which the Lenders agreed to make loans to and
extensions of credit on behalf of the Borrower.

     B.  Subject to the terms and conditions of this Amendment, the Borrower,
the Administrative Agent and the Lenders wish to amend the Credit Agreement and
to provide for a guaranty by ATP Energy, Inc. (the "ATP Energy").

     NOW THEREFORE, in consideration of the premises and the mutual covenants
herein contained, the parties hereto agree as follows:

     SECTION 1. DEFINITIONS. As used in this Amendment, each of the terms
defined in the opening paragraph and the Recitals above shall have the meanings
assigned to such terms therein. Each term defined in the Credit Agreement and
used herein without definition shall have the meaning assigned to such term in
the Credit Agreement, unless expressly provided to the contrary. The words
"hereby", "herein", "hereinafter", "hereof", "hereto" and "hereunder" when used
in this Amendment shall refer to this Amendment as a whole and not to any
particular Article, Section, subsection or provision of this Amendment. Section,
subsection and Exhibit references herein are to such Sections, subsections and
Exhibits to this Amendment unless otherwise specified. Whenever the context
requires, reference herein made to the single number shall be understood to
include the plural; and likewise, the plural shall be understood to include the
singular. Words denoting sex shall be construed to include the masculine and
feminine, when such construction is appropriate; and specific enumeration shall
not exclude the general but shall be construed as cumulative. Definitions of
terms defined in the singular or plural shall be equally applicable to the
plural or singular, as the case may be, unless otherwise indicated.

                                       1
<PAGE>

     SECTION 2. AMENDMENTS. The Borrower, the Administrative Agent and the
Lenders agree that the Credit Agreement is hereby amended, effective as of the
Sixth Amendment Effective Date, in the following particulars:

        (a) The following terms, which are defined in Section 1.02 of the Credit
Agreement, are hereby amended in their entirety to read as follows:

     "Agreement" shall mean this Credit Agreement, as amended and supplemented
     by the First Amendment, the Second Amendment, the Third Amendment, the
     Fourth Amendment, the Fifth Amendment, the Sixth Amendment, and as the same
     may from time to time be further amended or supplemented.

     "Loan Documents"  shall mean this Agreement, the Notes, the Fee Letter, all
     Letters of Credit, all Letter of Credit Agreements, the Security
     Instruments, the Guaranty, and any other document expressly indicating
     therein that such document is a "Loan Document" under this Agreement.

        (b) Section 1.02 of the Credit Agreement is hereby further amended and
supplemented by adding the following new definitions where alphabetically
appropriate, which read in their entirety as follows:

     "ATP Energy" means ATP Energy, Inc., a Texas corporation.

     "Guaranty" means the Guaranty dated as of the Sixth Amendment Effective
     Date made by ATP Energy in favor of the Administrative Agent for the
     benefit of the Credit Parties (as therein defined) as the same may be
     amended, supplemented or otherwise modified from time to time in the
     future.

     "Sixth Amendment" shall mean that certain Sixth Amendment to Credit
     Agreement dated as of January 31, 2002, by and among the Borrower, the
     Administrative Agent and the Lenders.

     "Sixth Amendment Effective Date" shall mean January 31, 2002.

        (c) Section 10.01(o) of the Credit Agreement is hereby amended is hereby
amended in its entirety to read as follows:

          "(o)  this Credit Agreement and the other Loan Documents shall not be
     amended and restated in their entirety, to the reasonable satisfaction of
     the Administrative Agent and the Lenders, on or before February 28, 2002;
     provided that neither the Administrative Agent nor any Lender shall be
     entitled to require any change in the economic terms of this Agreement or
     any Loan Document in connection with any such amendment and restatement
     other than those changes to the economic terms which are permitted in
     connection with the syndication of the credit facilities evidenced by the
     Credit Agreement in accordance with the Letter Agreement dated as of
     October 5, 2001 between Union Bank of California, N.A. and the Borrower;
     or".

                                       2
<PAGE>

        (d) Section 10.01 of the Credit Agreement is hereby amended by adding a
new Section 10.01(p) to read as follows:

        "(p) any of the provisions in the Guaranty shall for any reason cease
     to be in full force and effect, valid and binding on ATP Energy, or ATP
     Energy shall so state in writing."

     SECTION 3. REPRESENTATIONS AND WARRANTIES. The Borrower represents and
warrants to the Administrative Agent and the Lenders that:

        (a) Except for such which are made only as of a prior date, the
representations and warranties set forth in the Credit Agreement and in the
other Loan Documents are true and correct in all material respects as of the
Sixth Amendment Effective Date as if made on and as of such date.

        (b) The execution, delivery and performance of this Amendment are within
the corporate power and authority of the Borrower and have been duly authorized
by appropriate corporate proceedings, and the execution, delivery and
performance of the Guaranty dated as of the date hereof by ATP Energy (the
"Guaranty") are within the corporate power and authority of ATP Energy and have
been duly authorized by appropriate corporate proceedings.

        (c) This Amendment constitutes a legal, valid, and binding obligation of
the Borrower enforceable in accordance with its terms, except as limited by
applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws
affecting the rights of creditors generally and general principles of equity.

        (d) No consent, order, authorization, or approval or other action by,
and no notice to or filing with, any Governmental Authority or any other Person
is required for the due execution, delivery, and performance by the Borrower of
this Amendment or the other Loan Documents to which the Borrower is a party or
by ATP Energy of the Guaranty or the other Loan Documents to which it is a party
or the consummation of the transactions contemplated thereby.

     SECTION 4. CONDITIONS TO EFFECTIVENESS: This Amendment shall become
effective and enforceable against the parties hereto and the Credit Agreement
shall be amended as provided herein upon the occurrence of the following
conditions precedent on or before the Sixth Amendment Effective Date:

        (a) Loan Documents. The Administrative Agent shall have received
multiple original counterparts, as requested by the Administrative Agent, of (i)
this Amendment duly and validly executed and delivered by duly authorized
officers of the Borrower, the Administrative Agent and each Lender and (ii) the
Guaranty duly and validly executed and delivered by a duly authorized officer of
ATP Energy.

        (b) Corporate Proceedings of Loan Parties. The Administrative Agent
shall have received multiple copies, as requested by the Administrative Agent,
of the resolutions, in form and substance reasonably satisfactory to the
Administrative Agent, of the Board of Directors of ATP Energy, authorizing the
execution, delivery and performance of the Guaranty and the

                                       3
<PAGE>

transaction contemplated thereby, each such copy being attached to an original
certificate of the Secretary or an Assistant Secretary of ATP Energy, dated the
Sixth Amendment Effective Date, certifying (i) that the resolutions attached
thereto are true, correct and complete copies of resolutions duly adopted by
written consent or at a meeting of the Board of Directors of ATP Energy, (ii)
that such resolutions constitute all resolutions adopted with respect to the
transactions contemplated hereby, (iii) that such resolutions have not been
amended, modified, revoked or rescinded as of the Sixth Amendment Effective
Date, (iv) that the articles of incorporation and bylaws attached thereto are
the true, correct and complete copies of such articles and bylaws and that such
articles and bylaws have not been amended, supplemented or otherwise modified
except pursuant to any amendments attached thereto, and (v) as to the incumbency
and specimen signature of the officer of ATP Energy executing any Loan Documents
(including, without limitation, the Guaranty).

        (c) No Default. No Default or Event of Default shall have occurred and
be continuing as of the Sixth Amendment Effective Date.

        (d) Material Adverse Effect. No event shall have occurred or
circumstance shall have arisen since September 30, 2001, which, in the
reasonable opinion of the Lenders, could have a Material Adverse Effect.

        (e) Legal Fees of Administrative Agent's Counsel. The Borrower shall
have paid all fees and expenses of the Administrative Agent's outside legal
counsel and other consultants pursuant to all invoices presented for payment on
or prior to the Sixth Amendment Effective Date.

        (f) Other Instruments or Documents. The Administrative Agent or any
Lender or counsel to the Administrative Agent shall have received such other
instruments or documents as any of them may reasonably request.

     SECTION 5.  MISCELLANEOUS.

        (a) Effect on Loan Documents. Each of the Borrower, the Administrative
Agent and the Lenders does hereby adopt, ratify, and confirm the Credit
Agreement, as amended hereby, and acknowledges and agrees that the Credit
Agreement, as amended hereby, is and remains in full force and effect. Nothing
herein shall act as a waiver of any of the Administrative Agent's or Lender's
rights under the Loan Documents, as amended, including the waiver of any Default
or Event of Default, however denominated. From and after the Sixth Amendment
Effective Date, all references to the Credit Agreement and the Loan Documents
shall mean such Credit Agreement and such Loan Documents as amended by this
Amendment. This Amendment is a Loan Document for the purposes of the provisions
of the other Loan Documents. Without limiting the foregoing, any breach of
representations, warranties, and covenants under this Amendment shall be a
Default or Event of Default, as applicable, under the Credit Agreement.

        (b) Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original and all of which, taken
together, constitute a single instrument.

                                       4
<PAGE>

This Amendment may be executed by facsimile signature and all such signatures
shall be effective as originals.

        (c) Successors and Assigns. This Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns permitted pursuant to the Credit Agreement.

        (d) Entire Agreement. This Amendment constitutes the entire agreement
among the parties hereto with respect to the subject hereof. All prior
understandings, statements and agreements, whether written or oral, relating to
the subject hereof are superseded by this Amendment.

        (e) Invalidity. In the event that any one or more of the provisions
contained in this Amendment shall for any reason be held invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision of this Amendment.

        (f) Titles of Articles, Sections and Subsections. All titles or headings
to Articles, Sections, subsections or other divisions of this Amendment or the
exhibits hereto, if any, are only for the convenience of the parties and shall
not be construed to have any effect or meaning with respect to the other content
of such Articles, Sections, subsections, other divisions or exhibits, such other
content being controlling as the agreement among the parties hereto.

        (g) Governing Law. This Amendment shall be deemed to be a contract made
under and shall be governed by and construed in accordance with the internal
laws of the State of Texas.

THIS AMENDMENT, THE CREDIT AGREEMENT, AS AMENDED HEREBY, THE NOTES, AND THE
OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY
NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

                        [SIGNATURES BEGIN ON NEXT PAGE]

                                       5
<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed and delivered by their proper and duly authorized officers as
of the Sixth Amendment Effective Date.

BORROWER:                        ATP OIL & GAS CORPORATION

                                 By:    /s/ T. Paul Bulmahn
                                        -------------------
                                        T. Paul Bulmahn
                                        President

                                       6
<PAGE>

LENDER AND ADMINISTRATIVE        UNION BANK OF CALIFORNIA, N.A.
AGENT                            as Lender and as Administrative Agent

                                 By:    /s/ Damien Meiburger
                                        ----------------------------------------
                                 Name:  Damien Meiburger
                                 Title: Senior Vice President

                                 By:    /s/ Ali Ahmed
                                        ----------------------------------------
                                 Name:  Ali Ahmed
                                 Title: Vice President

                                       7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]