Document:

Exhibit 10.6

                                AMENDED GUARANTY

New York, New York                                             December 28, 2006

     FOR  VALUE  RECEIVED, and in consideration of note purchases, loans made or
to be made or credit otherwise extended or to be extended by Laurus Master Fund,
Ltd.  ("Laurus")  to  or for the account of New Century Energy Corp., a Colorado
corporation ("Debtor"), from time to time and at any time and for other good and
valuable consideration and to induce Laurus, in its discretion, to purchase such
notes,  make  such loans or other extensions of credit and to make or grant such
renewals,  extensions, releases of collateral or relinquishments of legal rights
as  Laurus may deem advisable, each of the undersigned (and each of them if more
than  one,  the  liability  under  this  guaranty  ("Guaranty")  being joint and
several)  (jointly  and  severally  referred  to  as  "Guarantors"  or  "the
undersigned")  unconditionally  guaranties  to Laurus, its successors, endorsees
and  assigns  the prompt payment when due (whether by acceleration or otherwise)
of  all  present  and future obligations and liabilities of any and all kinds of
Debtor  to Laurus and of all instruments of any nature evidencing or relating to
any  such  obligations  and liabilities upon which Debtor or one or more parties
and  Debtor  is  or  may  become liable to Laurus, whether incurred by Debtor as
maker,  endorser, drawer, acceptor, guarantor, accommodation party or otherwise,
and  whether due or to become due, secured or unsecured, absolute or contingent,
joint  or  several,  and however or whenever acquired by Laurus, whether arising
under,  out  of,  or  in  connection  with  (i) that certain Securities Purchase
Agreement  dated  as  of June 30, 2005 by and between the Debtor and Laurus (the
"June 2005 Securities Purchase Agreement"), (ii) each Related Agreement referred
to in the June 2005 Securities Purchase Agreement, (iii) that certain Securities
Purchase  Agreement dated as of September 19, 2005 by and between the Debtor and
Laurus  (the  "September 2005 Securities Purchase Agreement"), (iv) each Related
Agreement referred to in the September 2005 Securities Purchase Agreement (each,
a  "September  2005  Related  Agreement")  (the  June  2005  Securities Purchase
Agreement,  each  June  2005  Related  Agreement,  the September 2005 Securities
Purchase  Agreement  and  each  September 2005 Related Agreement, as each may be
amended,  modified, restated or supplemented from time to time, are collectively
referred  to herein as the "Documents"), and (v) each Related Agreement referred
to  in  the  December 2006 Securities Purchase Agreement (each, a "December 2006
Related  Agreement"  and  each  December  2006 Related Agreement, as each may be
amended,  modified, restated or supplemented from time to time, are collectively
referred  to  herein as the "December Documents"), or any documents, instruments
or agreements relating to or executed in connection with the Documents, December
Documents  or  any  documents,  instruments or agreements referred to therein or
otherwise,  or  any other indebtedness, obligations or liabilities of the Debtor
to  Laurus,  whether  now  existing  or  hereafter  arising, direct or indirect,
liquidated  or  unliquidated, absolute or contingent, due or not due and whether
under,  pursuant  to  or evidenced by a note, agreement, guaranty, instrument or
otherwise  (all  of  which  are  herein  collectively  referred  to  as  the
"Obligations"),  and  irrespective  of  the genuineness, validity, regularity or
enforceability  of  such Obligations, or of any instrument evidencing any of the
Obligations  or of any collateral therefor or of the existence or extent of such
collateral,  and  irrespective of the allowability, allowance or disallowance of
any  or  all of the Obligations in any case commenced by or against Debtor under
Title  11,  United  States  Code,  including, without limitation, obligations or

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indebtedness  of Debtor for post-petition interest, fees, costs and charges that
would  have accrued or been added to the Obligations but for the commencement of
such  case.  Terms  not otherwise defined herein shall have the meaning assigned
such  terms  in  the  Securities  Purchase  Agreement.  In  furtherance  of  the
foregoing,  the  undersigned  hereby  agrees  as  follows:

     1.  No  Impairment.  Laurus  may  at any time and from time to time, either
         --------------
before  or  after  the maturity thereof, without notice to or further consent of
the  undersigned,  extend  the  time  of  payment  of, exchange or surrender any
collateral  for,  renew or extend any of the Obligations or increase or decrease
the  interest  rate thereon, and may also make any agreement with Debtor or with
any  other  party  to  or person liable on any of the Obligations, or interested
therein,  for  the extension, renewal, payment, compromise, discharge or release
thereof, in whole or in part, or for any modification of the terms thereof or of
any  agreement  between  Laurus and Debtor or any such other party or person, or
make  any  election  of rights Laurus may deem desirable under the United States
Bankruptcy  Code,  as  amended,  or  any  other  federal  or  state  bankruptcy,
reorganization,  moratorium  or  insolvency  law  relating  to  or affecting the
enforcement of creditors' rights generally (any of the foregoing, an "Insolvency
Law")  without  in  any  way impairing or affecting this Guaranty. This Guaranty
shall  be  effective  regardless  of  the  subsequent  incorporation,  merger or
consolidation  of Debtor, or any change in the composition, nature, personnel or
location of Debtor and shall extend to any successor entity to Debtor, including
a  debtor  in  possession  or  the  like  under  any  Insolvency  Law.

     2.  Guaranty  Absolute.  Subject  to  Section  5(c)  hereof,  each  of  the
         ------------------
undersigned  jointly  and severally guarantees that the Obligations will be paid
strictly  in  accordance  with  the  terms  of the Documents, December Documents
and/or  any  other  document, instrument or agreement creating or evidencing the
Obligations,  regardless  of  any  law,  regulation or order now or hereafter in
effect  in  any jurisdiction affecting any of such terms or the rights of Debtor
with  respect thereto. Guarantors hereby knowingly accept the full range of risk
encompassed  within  a contract of "continuing guaranty" which risk includes the
possibility  that  Debtor  will  contract  additional  indebtedness  for  which
Guarantors may be liable hereunder after Debtor's financial condition or ability
to  pay  its  lawful  debts  when they fall due has deteriorated, whether or not
Debtor  has  properly  authorized  incurring  such  additional indebtedness. The
undersigned  acknowledge  that  (i)  no  oral  representations,  including  any
representations  to  extend  credit or provide other financial accommodations to
Debtor,  have  been  made by Laurus to induce the undersigned to enter into this
Guaranty and (ii) any extension of credit to the Debtor shall be governed solely
by the provisions of the Documents and December Documents. The liability of each
of  the  undersigned under this Guaranty shall be absolute and unconditional, in
accordance  with  its  terms,  and shall remain in full force and effect without
regard  to,  and  shall  not  be  released, suspended, discharged, terminated or
otherwise  affected  by,  any  circumstance or occurrence whatsoever, including,
without limitation: (a) any waiver, indulgence, renewal, extension, amendment or
modification  of  or  addition, consent or supplement to or deletion from or any
other  action  or  inaction  under  or  in  respect  of  the Documents, December
Documents  or any other instruments or agreements relating to the Obligations or
any  assignment  or  transfer  of  any  thereof,  (b)  any  lack  of validity or
enforceability  of  any  Document,  December  Documents  or  other  documents,
instruments  or  agreements  relating  to  the  Obligations or any assignment or
transfer of any thereof, (c) any furnishing of any additional security to Laurus
or  its  assignees  or  any acceptance thereof or any release of any security by
Laurus  or  its  assignees,  (d)  any  limitation  on  any  party's liability or

<PAGE>

obligation  under  the  Documents,  December  Documents  or any other documents,
instruments  or  agreements  relating  to  the  Obligations or any assignment or
transfer  of  any  thereof or any invalidity or unenforceability, in whole or in
part, of any such document, instrument or agreement or any term thereof, (e) any
bankruptcy,  insolvency,  reorganization,  composition, adjustment, dissolution,
liquidation  or  other  like  proceeding relating to Debtor, or any action taken
with  respect  to  this Guaranty by any trustee or receiver, or by any court, in
any  such  proceeding,  whether  or  not  the  undersigned  shall have notice or
knowledge of any of the foregoing, (f) any exchange, release or nonperfection of
any  collateral,  or  any  release,  or  amendment  or  waiver  of or consent to
departure  from  any guaranty or security, for all or any of the Obligations, or
(g)  any other circumstance which might otherwise constitute a defense available
to,  or a discharge of, the undersigned. Any amounts due from the undersigned to
Laurus  shall  bear  interest until such amounts are paid in full at the highest
rate  then  applicable  to  the  Obligations.  Obligations include post-petition
interest  whether  or  not  allowed  or  allowable.

     3.  Waivers.
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          (a)  This  Guaranty  is  a  guaranty of payment and not of collection.
     Laurus  shall  be under no obligation to institute suit, exercise rights or
     remedies  or  take  any  other action against Debtor or any other person or
     entity  liable  with  respect  to  any  of the Obligations or resort to any
     collateral  security  held  by  it  to  secure  any of the Obligations as a
     condition precedent to the undersigned being obligated to perform as agreed
     herein and each of the Guarantors hereby waives any and all rights which it
     may  have  by  statute or otherwise which would require Laurus to do any of
     the  foregoing.  Each  of  the  Guarantors further consents and agrees that
     Laurus  shall  be  under  no  obligation  to marshal any assets in favor of
     Guarantors,  or against or in payment of any or all of the Obligations. The
     undersigned  hereby  waives  all  suretyship  defenses  and  any  rights to
     interpose any defense, counterclaim or offset of any nature and description
     which the undersigned may have or which may exist between and among Laurus,
     Debtor and/or the undersigned with respect to the undersigned's obligations
     under  this  Guaranty,  or  which Debtor may assert on the underlying debt,
     including  but not limited to failure of consideration, breach of warranty,
     fraud,  payment  (other  than  cash  payment  in  full of the Obligations),
     statute  of frauds, bankruptcy, infancy, statute of limitations, accord and
     satisfaction,  and  usury.

          (b)  Each  of  the  undersigned  further  waives  (i)  notice  of  the
     acceptance  of this Guaranty, of the making of any such loans or extensions
     of  credit,  and  of  all  notices  and  demands  of  any kind to which the
     undersigned  may  be  entitled,  including,  without  limitation, notice of
     adverse  change  in Debtor's financial condition or of any other fact which
     might  materially increase the risk of the undersigned and (ii) presentment
     to  or  demand  of  payment  from  anyone whomsoever liable upon any of the
     Obligations,  protest,  notices  of presentment, non-payment or protest and
     notice  of  any  sale  of  collateral  security or any default of any sort.

          (c)  Notwithstanding  any  payment or payments made by the undersigned
     hereunder,  or  any  setoff  or  application of funds of the undersigned by
     Laurus,  the  undersigned  shall not be entitled to be subrogated to any of
     the  rights of Laurus against Debtor or against any collateral or guarantee
     or  right  of offset held by Laurus for the payment of the Obligations, nor
     shall  the  undersigned  seek  or  be  entitled to seek any contribution or
     reimbursement  from  Debtor  in respect of payments made by the undersigned
     hereunder,  until  all  amounts owing to Laurus by Debtor on account of the
     Obligations  are indefeasibly paid in full and Laurus' obligation to extend
     credit  pursuant  to  the  Documents  and  December  Documents  has  been
     irrevocably terminated. If, notwithstanding the foregoing, any amount shall
     be  paid  to  the  undersigned on account of such subrogation rights at any
     time  when  all  of  the  Obligations  shall not have been paid in full and
     Laurus'  obligation to extend credit pursuant to the Documents and December
     Documents  shall not have been terminated, such amount shall be held by the
     undersigned  in  trust  for  Laurus,  segregated  from  other  funds of the
     undersigned,  and  shall  forthwith  upon,  and in any event within two (2)
     business  days  of, receipt by the undersigned, be turned over to Laurus in

<PAGE>

     the  exact  form  received  by  the  undersigned  (duly  endorsed  by  the
     undersigned to Laurus, if required), to be applied against the Obligations,
     whether  matured  or  unmatured,  in  such  order  as Laurus may determine,
     subject  to the provisions of the Documents and December Documents. Any and
     all  present  and  future  debts  and  obligations  of Debtor to any of the
     undersigned  are  hereby waived and postponed in favor of, and subordinated
     to  the  full  payment and performance of, all present and future debts and
     Obligations  of  Debtor  to  Laurus.

     4.  Security. All sums at any time to the credit of the undersigned and any
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property  of  the  undersigned in Laurus' possession or in the possession of any
bank, financial institution or other entity that directly or indirectly, through
one  or  more  intermediaries,  controls or is controlled by, or is under common
control  with, Laurus (each such entity, an "Affiliate") shall be deemed held by
Laurus or such Affiliate, as the case may be, as security for any and all of the
undersigned's  obligations  to  Laurus and to any Affiliate of Laurus, no matter
how or when arising and whether under this or any other instrument, agreement or
otherwise.

     5.  Representations  and Warranties. Each of the undersigned hereby jointly
         -------------------------------
and  severally  represents  and  warrants  (all  of  which  representations  and
warranties  shall  survive  until  all Obligations are indefeasibly satisfied in
full and the Documents and December Documents have been irrevocably terminated),
that:

          (a)  Corporate  Status.  It  is  a corporation, partnership or limited
               -----------------
     liability company, as the case may be, duly formed, validly existing and in
     good  standing under the laws of its jurisdiction of formation indicated on
     the  signature page hereof and has full power, authority and legal right to
     own  its  property  and  assets and to transact the business in which it is
     engaged.

          (b)  Authority  and  Execution. It has full power, authority and legal
               -------------------------
     right  to  execute  and deliver, and to perform its obligations under, this
     Guaranty  and  has  taken  all  necessary corporate, partnership or limited
     liability  company,  as the case may be, action to authorize the execution,
     delivery  and  performance  of  this  Guaranty.

          (c)  Legal, Valid and Binding Character. This Guaranty constitutes its
               ----------------------------------
     legal,  valid  and  binding  obligation  enforceable in accordance with its
     terms,  except  as  enforceability may be limited by applicable bankruptcy,
     insolvency, reorganization, moratorium or other laws of general application

<PAGE>

     affecting  the  enforcement  of creditor's rights and general principles of
     equity  that  restrict  the  availability  of  equitable or legal remedies.

          (d)  Violations.  The  execution,  delivery  and  performance  of this
               ----------
     Guaranty  will  not  violate any requirement of law applicable to it or any
     contract,  agreement or instrument to which it is a party or by which it or
     any of its property is bound or result in the creation or imposition of any
     mortgage, lien or other encumbrance other than in favor of Laurus on any of
     its  property or assets pursuant to the provisions of any of the foregoing,
     which, in any of the foregoing cases, could reasonably be expected to have,
     either  individually  or  in  the  aggregate,  a  Material  Adverse Effect.

          (e)  Consents  or  Approvals. No consent of any other person or entity
               -----------------------
     (including,  without  limitation,  any  creditor of the undersigned) and no
     consent,  license,  permit,  approval  or  authorization  of, exemption by,
     notice  or  report  to,  or  registration,  filing or declaration with, any
     governmental  authority  is  required  in  connection  with  the execution,
     delivery,  performance,  validity or enforceability of this Guaranty by it,
     except  to the extent that the failure to obtain any of the foregoing could
     not  reasonably  be  expected  to  have,  either  individually  or  in  the
     aggregate,  a  Material  Adverse  Effect.

          (f)  Litigation.  No  litigation,  arbitration,  investigation  or
               ----------
     administrative  proceeding  of  or  before  any  court,  arbitrator  or
     governmental  authority,  bureau  or agency is currently pending or, to the
     best  of its knowledge, threatened (i) with respect to this Guaranty or any
     of  the  transactions  contemplated  by  this  Guaranty  or (ii) against or
     affecting  it,  or  any  of  its  property or assets, which, in each of the
     foregoing  cases,  if adversely determined, could reasonably be expected to
     have  a  Material  Adverse  Effect.

          (g) Financial Benefit. It has derived or expects to derive a financial
              -----------------
     or other advantage from each and every loan, advance or extension of credit
     made  under the Documents, December Documents or other Obligations incurred
     by  the  Debtor  to  Laurus.

          (h)  Solvency.  As of the date of this Guaranty, (a) the fair saleable
               --------
     value  of  its  assets  exceeds  its  liabilities and (b) it is meeting its
     current  liabilities  as  they  mature.

     6.  Acceleration.
         ------------

          (a)  If  any  breach  of  any  covenant or condition or other event of
     default shall occur and be continuing under any agreement made by Debtor or
     any  of  the  undersigned  to  Laurus,  or  either  Debtor  or  any  of the
     undersigned  should  at  any  time  become  insolvent,  or  make  a general
     assignment,  or  if  a  proceeding  in or under any Insolvency Law shall be
     filed  or  commenced  by, or in respect of, any of the undersigned, or if a
     notice  of any lien, levy, or assessment is filed of record with respect to
     any assets of any of the undersigned by the United States of America or any
     department,  agency,  or  instrumentality thereof, or if any taxes or debts
     owing  at  any time or times hereafter to any one of them becomes a lien or
     encumbrance  upon  any  assets of the undersigned in Laurus' possession, or
     otherwise,  any  and  all Obligations shall for purposes hereof, at Laurus'
     option,  be  deemed due and payable without notice notwithstanding that any
     such  Obligation  is  not  then  due  and  payable  by  Debtor.

<PAGE>

          (b) Each of the undersigned will promptly notify Laurus of any default
     by such undersigned in its respective performance or observance of any term
     or  condition  of  any agreement to which the undersigned is a party if the
     effect  of such default is to cause, or permit the holder of any obligation
     under  such  agreement to cause, such obligation to become due prior to its
     stated  maturity  and, if such an event occurs, Laurus shall have the right
     to  accelerate  such  undersigned's  obligations  hereunder.

     7.  Payments  from Guarantors. Laurus, in its sole and absolute discretion,
         -------------------------
with  or  without  notice  to  the  undersigned,  may  apply  on  account of the
Obligations any payment from the undersigned or any other guarantors, or amounts
realized  from any security for the Obligations, or may deposit any and all such
amounts realized in a non-interest bearing cash collateral deposit account to be
maintained  as  security  for  the  Obligations.

     8. Costs. The undersigned shall pay on demand, all costs, fees and expenses
        -----
(including  expenses for legal services of every kind) relating or incidental to
the  enforcement or protection of the rights of Laurus hereunder or under any of
the  Obligations.

     9.  No  Termination.  This  is  a continuing irrevocable guaranty and shall
         ---------------
remain in full force and effect and be binding upon the undersigned, and each of
the undersigned's successors and assigns, until all of the Obligations have been
indefeasibly  paid  in  full and Laurus' obligation to extend credit pursuant to
the  Documents and December Documents has been irrevocably terminated. If any of
the  present  or  future  Obligations are guarantied by persons, partnerships or
entities  in  addition  to  the  undersigned, the death, release or discharge in
whole  or  in  part  or  the  bankruptcy,  merger, consolidation, incorporation,
liquidation  or dissolution of one or more of them shall not discharge or affect
the  liabilities  of  any  undersigned  under  this  Guaranty.

     10.  Recapture.  Anything in this Guaranty to the contrary notwithstanding,
          ---------
if  Laurus  receives  any  payment  or  payments  on  account of the liabilities
guaranteed  hereby,  which  payment  or  payments  or  any  part  thereof  are
subsequently  invalidated,  declared to be fraudulent or preferential, set aside
and/or  required  to  be repaid to a trustee, receiver, or any other party under
any  Insolvency Law, common law or equitable doctrine, then to the extent of any
sum  not  finally  retained  by  Laurus, the undersigned's obligations to Laurus
shall  be reinstated and this Guaranty shall remain in full force and effect (or
be reinstated) until payment shall have been made to Laurus, which payment shall
be  due  on  demand.

     11.  Books and Records. The books and records of Laurus showing the account
          ------------------
between  Laurus  and  Debtor  shall  be  admissible in evidence in any action or
proceeding,  shall  be  binding  upon  the  undersigned  for  the  purpose  of
establishing  the items therein set forth and shall constitute prima facie proof
thereof.

     12.  No  Waiver. No failure on the part of Laurus to exercise, and no delay
          ----------
in  exercising,  any  right, remedy or power hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise by Laurus of any right, remedy
or  power  hereunder  preclude  any  other or future exercise of any other legal
right, remedy or power. Each and every right, remedy and power hereby granted to
Laurus  or  allowed  it  by  law  or other agreement shall be cumulative and not
exclusive of any other, and may be exercised by Laurus at any time and from time
to  time.

<PAGE>

     13. Waiver of Jury Trial. EACH OF THE UNDERSIGNED DESIRES THAT ITS DISPUTES
         --------------------
BE  RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE
BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH
OF  THE  UNDERSIGNED  HERETO  WAIVES  ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION,
SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER ARISING IN CONTRACT,
TORT, OR OTHERWISE BETWEEN LAURUS, AND/OR ANY OF THE UNDERSIGNED ARISING OUT OF,
CONNECTED  WITH,  RELATED  OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN
THEM  IN  CONNECTION  WITH THIS GUARANTY, ANY DOCUMENT, DECEMBER DOCUMENT OR THE
TRANSACTIONS  RELATED  HERETO  OR  THERETO.

     14.  Governing  Law;  Jurisdiction.  THIS  GUARANTY  CANNOT  BE  CHANGED OR
          -----------------------------
TERMINATED  ORALLY,  AND  SHALL  BE  GOVERNED  BY  AND CONSTRUED AND ENFORCED IN
ACCORDANCE  WITH  THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE
AND  PERFORMED IN SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.
EACH  OF  THE  UNDERSIGNED  HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL
COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK SHALL HAVE EXCLUSIVE
JURISDICTION  TO  HEAR  AND  DETERMINE ANY CLAIMS OR DISPUTES BETWEEN ANY OF THE
UNDERSIGNED,  ON THE ONE HAND, AND LAURUS, ON THE OTHER HAND, PERTAINING TO THIS
GUARANTY  OR  ANY  OF THE DOCUMENTS, DECEMBER DOCUMENTS OR TO ANY MATTER ARISING
OUT  OF  OR  RELATED  TO  THIS  GUARANTY  OR  ANY  OF  THE DOCUMENTS OR DECEMBER
DOCUMENTS;  PROVIDED, THAT EACH OF THE UNDERSIGNED ACKNOWLEDGES THAT ANY APPEALS
            --------
FROM  THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE COUNTY
OF  NEW  YORK,  STATE  OF  NEW  YORK; AND FURTHER PROVIDED, THAT NOTHING IN THIS
                                          ------- --------
GUARANTY  SHALL  BE  DEEMED  OR OPERATE TO PRECLUDE LAURUS FROM BRINGING SUIT OR
TAKING  OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO COLLECT THE OBLIGATIONS,
TO  REALIZE  ON  THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO
ENFORCE  A  JUDGMENT  OR  OTHER  COURT  ORDER  IN  FAVOR  OF LAURUS. EACH OF THE
UNDERSIGNED  EXPRESSLY  SUBMITS  AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN
ANY  ACTION  OR  SUIT  COMMENCED  IN ANY SUCH COURT, AND EACH UNDERSIGNED HEREBY
WAIVES ANY OBJECTION WHICH IT MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION,
IMPROPER  VENUE  OR  FORUM NON CONVENIENS. EACH OF THE UNDERSIGNED HEREBY WAIVES
                     --------------------
PERSONAL  SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH
ACTION  OR  SUIT  AND  AGREES  THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER
PROCESS  MAY  BE  MADE  BY  REGISTERED  OR  CERTIFIED  MAIL  ADDRESSED  TO  SUCH
UNDERSIGNED  IN  ACCORDANCE  WITH  SECTION  18 AND THAT SERVICE SO MADE SHALL BE
DEEMED  COMPLETED  UPON THE EARLIER OF SUCH UNDERSIGNED'S ACTUAL RECEIPT THEREOF
OR  THREE  (3)  DAYS  AFTER  DEPOSIT  IN THE U.S. MAILS, PROPER POSTAGE PREPAID.

<PAGE>

     15.  Understanding  With  Respect  to  Waivers and Consents. Each Guarantor
          ------------------------------------------------------
warrants  and  agrees  that  each  of the waivers and consents set forth in this
Guaranty is made voluntarily and unconditionally after consultation with outside
legal counsel and with full knowledge of its significance and consequences, with
the  understanding  that  events  giving rise to any defense or right waived may
diminish,  destroy  or  otherwise  adversely  affect rights which such Guarantor
otherwise  may  have against the Debtor, Laurus or any other person or entity or
against  any  collateral. If, notwithstanding the intent of the parties that the
terms  of  this  Guaranty  shall  control in any and all circumstances, any such
waivers  or  consents  are  determined to be unenforceable under applicable law,
such  waivers and consents shall be effective to the maximum extent permitted by
law.

     16.  Severability. To the extent permitted by applicable law, any provision
          ------------
of this Guaranty 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 hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or
render  unenforceable  such  provision  in  any  other  jurisdiction.

     17.  Amendments,  Waivers.  No amendment or waiver of any provision of this
          --------------------
Guaranty  nor consent to any departure by the undersigned therefrom shall in any
event  be  effective unless the same shall be in writing executed by each of the
undersigned  directly  affected  by  such  amendment  and/or  waiver and Laurus.

     18.  Notice.  All notices, requests and demands to or upon the undersigned,
          ------
shall be in writing and shall be deemed to have been duly given or made (a) when
delivered,  if by hand, (b) three (3) days after being sent, postage prepaid, if
by  registered  or  certified  mail,  (c)  when  confirmed electronically, if by
facsimile,  or (d) when delivered, if by a recognized overnight delivery service
in  each event, to the numbers and/or address set forth beneath the signature of
the  undersigned.

     19.  Successors.  Laurus  may,  from  time  to  time, without notice to the
          ----------
undersigned,  sell,  assign, transfer or otherwise dispose of all or any part of
the  Obligations  and/or  rights  under  this  Guaranty.  Without  limiting  the
generality  of the foregoing, Laurus may assign, or grant participations to, one
or  more  banks, financial institutions or other entities all or any part of any
of  the  Obligations.  In  each  such event, Laurus, its Affiliates and each and
every  immediate and successive purchaser, assignee, transferee or holder of all
or any part of the Obligations shall have the right to enforce this Guaranty, by
legal  action  or  otherwise, for its own benefit as fully as if such purchaser,
assignee,  transferee  or  holder  were  herein  by name specifically given such
right.  Laurus  shall  have an unimpaired right to enforce this Guaranty for its
benefit  with  respect  to  that portion of the Obligations which Laurus has not
disposed  of,  sold,  assigned,  or  otherwise  transferred.

     20.  Joinder.  It  is  understood and agreed that any person or entity that
          -------
desires to become a Guarantor hereunder, or is required to execute a counterpart
of  this  Guaranty  after  the  date  hereof pursuant to the requirements of any
Document  or  December  Document,  shall  become  a  Guarantor  hereunder by (x)
executing  a Joinder Agreement in form and substance satisfactory to Laurus, (y)
delivering  supplements  to  such  exhibits  and  annexes  to such Documents and
December Documents as Laurus shall reasonably request and (z) taking all actions

<PAGE>

as  specified in this Guaranty as would have been taken by such Guarantor had it
been  an  original  party  to  this  Guaranty,  in  each case with all documents
required  above  to  be  delivered  to Laurus and with all documents and actions
required  above  to  be  taken  to  the  reasonable  satisfaction  of  Laurus.

     21. Release. Nothing except indefeasible payment in full of the Obligations
         -------
shall  release  any  of  the  undersigned  from  liability  under this Guaranty.

     22.  Remedies  Not  Exclusive.  The  remedies conferred upon Laurus in this
          ------------------------
Guaranty  are  intended to be in addition to, and not in limitation of any other
remedy  or  remedies  available  to  Laurus.

     23.  Limitation  of  Obligations  under  this  Guaranty. Each Guarantor and
          --------------------------------------------------
Laurus (by its acceptance of the benefits of this Guaranty) hereby confirms that
it  is  its intention that this Guaranty not constitute a fraudulent transfer or
conveyance  for  purposes  of  the  Bankruptcy  Code,  the  Uniform  Fraudulent
Conveyance  Act of any similar Federal or state law. To effectuate the foregoing
intention,  each Guarantor and Laurus (by its acceptance of the benefits of this
Guaranty)  hereby  irrevocably  agrees  that  the Obligations guaranteed by such
Guarantor  shall  be limited to such amount as will, after giving effect to such
maximum  amount  and  all  other  (contingent  or otherwise) liabilities of such
Guarantor  that  are  relevant  under  such  laws and after giving effect to any
rights  to  contribution  pursuant  to  any agreement providing for an equitable
contribution  among  such  Guarantor  and  the  other Guarantors (including this
Guaranty),  result  in  the Obligations of such Guarantor under this Guaranty in
respect  of  such  maximum  amount  not  constituting  a  fraudulent transfer or
conveyance.

                        [REMAINDER OF THIS PAGE IS BLANK.
                       SIGNATURE PAGE IMMEDIATELY FOLLOWS]

<PAGE>

     IN  WITNESS  WHEREOF, this Guaranty has been executed by the undersigned as
of  December  28,  2006,  to  be  effective  as  of  April  26,  2006.

                                   GULF COAST OIL CORPORATION
                                   /s/ Edward R. DeStefano
                                   --------------------------------------
                                   Edward R. DeStefano
                                   President

                                   Address:      5851 San Felipe, Suite 775
                                                 Houston, Texas 77057
                                                 Facsimile:     713-255-4358
                                                 State of Formation:  Delaware

<PAGE>MASTER SECURITY AGREEMENT

To:     Laurus Master Fund, Ltd.
c/o M&C Corporate Services Limited
P.O. Box 309 GT
Ugland House
South Church Street
George Town
Grand Cayman, Cayman Islands

Date:  December  28,  2006

To  Whom  It  May  Concern:

     1.  To  secure  the  payment of all Obligations (as hereafter defined), New
Century  Energy Corp., a Colorado corporation (the "Company"), each of the other
undersigned  parties  (other  than Laurus Master Fund, Ltd. ("Laurus")) and each
other entity that is required to enter into this Master Security Agreement (each
an  "Assignor"  and, collectively, the "Assignors") hereby assigns and grants to
Laurus a continuing security interest in all of the following property now owned
or  at  any  time hereafter acquired by such Assignor, or in which such Assignor
now  has  or  at any time in the future may acquire any right, title or interest
(the  "Collateral"):  all cash, cash equivalents, accounts, accounts receivable,
deposit accounts (including, without limitation, the Lockbox Deposit Account (as
hereafter  defined)),  inventory,  equipment,  goods,  fixtures,  documents,
instruments  (including, without limitation, promissory notes), contract rights,
general  intangibles  (including, without limitation, payment intangibles and an
absolute  right  to  license  on terms no less favorable than those currently in
effect among such Assignor's affiliates), chattel paper, supporting obligations,
investment  property  (including, without limitation, all equity interests owned
by  any  Assignor), letter-of-credit rights, trademarks, trademark applications,
tradestyles,  patents,  patent  applications, copyrights, copyright applications
and  other intellectual property in which such Assignor now has or hereafter may
acquire  any  right,  title  or  interest,  all  proceeds  and  products thereof
(including,  without  limitation,  proceeds  of  insurance), all commercial tort
claoms  set forth on Schedule A, and all additions, accessions and substitutions
                     ----------
thereto or therefor. In the event any Assignor wishes to finance the acquisition
in  the  ordinary course of business of any hereafter acquired equipment and has
obtained  a written commitment from an unrelated third party financing source to
finance  such  equipment,  Laurus  shall  release  its security interest on such
hereafter  acquired  equipment so financed by such third party financing source.
Except as otherwise defined herein, all capitalized terms used herein shall have
the  meanings  provided  such  terms  in  the  Securities Purchase Agreement (as
defined  below).

     2.  The term "Obligations" as used herein shall mean and include all debts,
liabilities  and obligations owing by each Assignor to Laurus arising under, out
of,  or  in connection with (i) that certain Securities Purchase Agreement dated
as  of  the  date  hereof by and between the Company and Laurus (the "Securities
Purchase  Agreement")  and  (ii)  the  Related  Agreements  referred  to  in the
Securities  Purchase  Agreement  (the  Securities  Purchase  Agreement  and each
Related  Agreement,  as  each may be amended, modified, restated or supplemented

<PAGE>

from  time  to  time, collectively, the "Documents"), and in connection with any
documents,  instruments or agreements relating to or executed in connection with
the Documents or any documents, instruments or agreements referred to therein or
otherwise,  and  in  connection  with  any  other  indebtedness,  obligations or
liabilities  of  each such Assignor to Laurus, whether now existing or hereafter
arising, direct or indirect, liquidated or unliquidated, absolute or contingent,
due or not due and whether under, pursuant to or evidenced by a note, agreement,
guaranty,  instrument  or  otherwise, including, without limitation, obligations
and  indebtedness  of  each Assignor for post-petition interest, fees, costs and
charges  that  accrue  after  the  commencement  of  any case by or against such
Assignor  under  any  bankruptcy,  insolvency, reorganization or like proceeding
(collectively,  the  "Debtor  Relief  Laws")  in  each case, irrespective of the
genuineness,  validity,  regularity or enforceability of such Obligations, or of
any  instrument  evidencing any of the Obligations or of any collateral therefor
or  of  the  existence  or  extent  of  such collateral, and irrespective of the
allowability,  allowance or disallowance of any or all of the Obligations in any
case  commenced  by  or  against  any  Assignor  under  any  Debtor  Relief Law.

     3.  Each  Assignor  hereby  jointly  and severally represents, warrants and
covenants  to  Laurus  that:

          (a)  it is a corporation, partnership or limited liability company, as
     the  case  may  be, validly existing, in good standing and formed under the
     respective  laws  of its jurisdiction of formation set forth on Schedule A,
     and  each  Assignor  will  provide  Laurus  thirty (30) days' prior written
     notice  of  any  change in any of its respective jurisdiction of formation;

          (b) its legal name is as set forth in its Certificate of Incorporation
     or  other  organizational  document  (as applicable) as amended through the
     date  hereof  and  as  set  forth on Schedule B, and it will provide Laurus
                                          ----------
     thirty  (30)  days'  prior  written notice of any change in its legal name;

          (c) its organizational identification number (if applicable) is as set
     forth  on  Schedule  A hereto, and it will provide Laurus thirty (30) days'
     prior  written  notice  of  any change in its organizational identification
     number;

          (d) it is the lawful owner of its Collateral and it has the sole right
     to grant a security interest therein and will defend the Collateral against
     all  claims  and  demands  of  all  persons  and  entities;

          (e)  it  will  keep  its Collateral free and clear of all attachments,
     levies, taxes, liens, security interests and encumbrances of every kind and
     nature  ("Encumbrances"),  except (i) Encumbrances securing the Obligations
     and  (ii)  Encumbrances  securing indebtedness of each such Assignor not to
     exceed $200,000 in the aggregate for all such Assignors so long as all such
     Encumbrances  are  removed  or  otherwise  released to Laurus' satisfaction
     within  ten  (10)  days  of  the  creation  thereof;

          (f)  it  will,  at its and the other Assignors' joint and several cost
     and  expense keep the Collateral in good state of repair (ordinary wear and

<PAGE>

     tear  excepted)  and will not waste or destroy the same or any part thereof
     other  than ordinary course discarding of items no longer used or useful in
     its  or  such  other  Assignors'  business;

          (g)  it  will  not,  without  Laurus'  prior  written  consent,  sell,
     exchange,  lease  or  otherwise dispose of any Collateral, whether by sale,
     lease or otherwise, except for the sale of inventory in the ordinary course
     of  business  and for the disposition or transfer in the ordinary course of
     business  during  any  fiscal  year  of  obsolete and worn-out equipment or
     equipment  no  longer  necessary for its ongoing needs, having an aggregate
     fair  market  value  of not more than $100,000 and only to the extent that:

               (i)  the  proceeds  of  each such disposition are used to acquire
          replacement  Collateral  which  is  subject  to Laurus' first priority
          perfected  security  interest, or are used to repay the Obligations or
          to  pay  general  corporate  expenses;  or

               (ii)  following  the  occurrence  of  an  Event  of Default which
          continues  to exist the proceeds of each such disposition are remitted
          to  Laurus  to  be  held  as  cash  collateral  for  the  Obligations;

          (h)  it  will  insure or cause the Collateral to be insured in Laurus'
     name (as additional insured and loss payee) against loss or damage by fire,
     theft,  burglary,  pilferage,  loss  in  transit  and such other hazards as
     Laurus  shall  specify in amounts and under policies by insurers acceptable
     to  Laurus  and all premiums thereon shall be paid by such Assignor and the
     policies  delivered  to Laurus. If any such Assignor fails to do so, Laurus
     may  procure  such  insurance  and  the  cost  thereof  shall  be  promptly
     reimbursed  by  the  Assignors, jointly and severally, and shall constitute
     Obligations;

          (i)  it  will  at  all  reasonable  times  allow  Laurus  or  Laurus'
     representatives  free  access  to  and  the  right  of  inspection  of  the
     Collateral;

          (j)  such  Assignor  (jointly  and severally with each other Assignor)
     hereby  indemnifies and saves Laurus harmless from all loss, costs, damage,
     liability and/or expense, including reasonable attorneys' fees, that Laurus
     may  sustain or incur to enforce payment, performance or fulfillment of any
     of  the  Obligations  and/or  in  the  enforcement  of this Master Security
     Agreement  or  in  the  prosecution  or defense of any action or proceeding
     either  against Laurus or any Assignor concerning any matter growing out of
     or  in  connection  with  this Master Security Agreement, and/or any of the
     Obligations  and/or  any  of  the Collateral except to the extent caused by
     Laurus'  own  gross  negligence  or  willful misconduct (as determined by a
     court of competent jurisdiction in a final and nonappealable decision); and

          (k)  On  or  prior  to  the  Closing  Date,  each  Assignor  will  (i)
     irrevocably  direct  all  of  its  present  and  future Account Debtors (as
     defined  below)  and  other  persons or entities obligated to make payments
     constituting  Collateral  to  make  such payments directly to the lockboxes
     maintained  by  such Assignor (the "Lockboxes") with JPMorgan Chase Bank or
     such  other  financial  institution accepted by Laurus in writing as may be

<PAGE>

     selected  by the Company (the "Lockbox Bank") (each such direction pursuant
     to  this  clause  (i),  a  "Direction Notice") and (ii) provide Laurus with
     copies  of  each  Direction  Notice,  each  of which shall be agreed to and
     acknowledged  by  the  respective  Account  Debtor.  Upon  receipt  of such
     payments,  the  Lockbox  Bank  shall  agree to deposit the proceeds of such
     payments in that certain deposit account maintained at the Lockbox Bank and
     evidenced  by  the  account  name  of the Company and the account number of
     1513800711-65,  or such other deposit account accepted by Laurus in writing
     (the  "Lockbox  Deposit  Account").  On  or  prior to the Closing Date, the
     Company  shall  and  shall  cause  the  Lockbox Bank to enter into all such
     documentation  acceptable  to Laurus pursuant to which, among other things,
     the  Lockbox  Bank  agrees  to,  following  notification  by  Laurus (which
     notification Laurus shall only give following the occurrence and during the
     continuance  of  an Event of Default), comply only with the instructions or
     other  directions  of Laurus concerning the Lockbox and the Lockbox Deposit
     Account.  All  of  each  Assignor's  invoices, account statements and other
     written  or  oral  communications  directing,  instructing,  demanding  or
     requesting  payment  of  any  Account  (as hereinafter defined) of any such
     Assignor  or  any  other amount constituting Collateral shall conspicuously
     direct  that  all  payments be made to the Lockbox or such other address as
     Laurus  may  direct  in  writing.  If,  notwithstanding the instructions to
     Account  Debtors,  any  Assignor receives any payments, such Assignor shall
     immediately  remit  such  payments  to the Lockbox Deposit Account in their
     original  form  with  all  necessary  endorsements.  Until so remitted, the
     Assignors  shall hold all such payments in trust for and as the property of
     Laurus and shall not commingle such payments with any of its other funds or
     property. For the purpose of this Master Security Agreement, (x) "Accounts"
     shall  mean  all  "accounts",  as  such  term  is  defined  in  the Uniform
     Commercial  Code  as in effect in the State of New York on the date hereof,
     now  owned  or  hereafter acquired by any Assignor and (y) "Account Debtor"
     shall mean any person or entity who is or may be obligated with respect to,
     or  on  account  of,  an  Account.

     4.  The  occurrence  of  any  of  the  following events or conditions shall
constitute  an  "Event  of  Default"  under  this  Master  Security  Agreement:

          (a)  any  covenant  or  any  other  term  or  condition of this Master
     Security  Agreement is breached in any material respect and such breach, if
     subject to cure, shall continue for a period of fifteen (15) days after the
     occurrence  thereof;

          (b)  any representation or warranty, or statement made or furnished to
     Laurus  under  this  Master  Security  Agreement  by any Assignor or on any
     Assignor's behalf should at any time be false or misleading in any material
     respect;

          (c)  the  loss,  theft,  substantial  damage,  destruction,  sale  or
     encumbrance  to  or  of  any  of  the Collateral or the making of any levy,
     seizure  or  attachment  thereof  or  thereon  except  to  the  extent:

               (i)  such loss is covered by insurance proceeds which are used to
          replace  the  item  or  repay  Laurus;  or

               (ii)  said  levy,  seizure  or  attachment  does  not  secure
          indebtedness  in excess of $100,000 in the aggregate for all Assignors

<PAGE>

          and  such  levy,  seizure  or attachment has been removed or otherwise
          released  within  ten  (10)  days  of  the  creation  or the assertion
          thereof;

          (d)  an  Event  of Default shall have occurred under and as defined in
     any  Document.

     5.  Upon the occurrence of any Event of Default and at any time thereafter,
Laurus  may declare all Obligations immediately due and payable and Laurus shall
have  the remedies of a secured party provided in the Uniform Commercial Code as
in  effect  in  the  State of New York, this Agreement and other applicable law.
Upon  the  occurrence of any Event of Default and at any time thereafter, Laurus
will  have  the  right to take possession of the Collateral and to maintain such
possession  on  any  Assignor's premises or to remove the Collateral or any part
thereof  to such other premises as Laurus may desire. Upon Laurus' request, each
Assignor  shall  assemble  or  cause  the Collateral to be assembled and make it
available  to  Laurus  at  a  place designated by Laurus. If any notification of
intended disposition of any Collateral is required by law, such notification, if
mailed,  shall  be  deemed  properly and reasonably given if mailed at least ten
(10)  days before such disposition, postage prepaid, addressed to the applicable
Assignor  either  at  such  Assignor's  address  shown  herein or at any address
appearing  on Laurus' records for such Assignor. Any proceeds of any disposition
of  any  of  the  Collateral  shall  be  applied by Laurus to the payment of all
expenses  in  connection  with  the sale of the Collateral, including reasonable
attorneys'  fees  and  other legal expenses and disbursements and the reasonable
expenses  of  retaking,  holding, preparing for sale, selling, and the like, and
any  balance of such proceeds may be applied by Laurus toward the payment of the
Obligations  in such order of application as Laurus may elect, and each Assignor
shall  be  liable  for any deficiency. For the avoidance of doubt, following the
occurrence  and during the continuance of an Event of Default, Laurus shall have
the  immediate  right  to  withdraw  any and all monies contained in any Lockbox
Deposit  Account  or  any other deposit accounts in the name of the Assignor and
controlled by Laurus and apply same to the repayment of the Obligations (in such
order  of  application  as  Laurus  may  elect).

     6. If any Assignor defaults in the performance or fulfillment of any of the
terms,  conditions,  promises,  covenants,  provisions  or  warranties  on  such
Assignor's  part  to  be performed or fulfilled under or pursuant to this Master
Security  Agreement,  Laurus  may,  at  its option, without waiving its right to
enforce this Master Security Agreement according to its terms, immediately or at
any  time  thereafter and without notice to any Assignor, perform or fulfill the
same  or  cause  the  performance or fulfillment of the same for each Assignor's
joint  and  several  account  and  at each Assignor's joint and several cost and
expense, and the cost and expense thereof (including reasonable attorneys' fees)
shall  be  added to the Obligations and shall be payable on demand with interest
thereon  at the highest rate permitted by law, or, at Laurus' option, debited by
Laurus  from  the  Lockbox  Deposit Account or any other deposit accounts in the
name  of  the  Assignor  and  controlled  by  Laurus.

     7. Each Assignor appoints Laurus, any of Laurus' officers, employees or any
other  person  or  entity whom Laurus may designate as such Assignor's attorney,
with  power  to  execute  such  documents  in each such Assignor's behalf and to
supply  any  omitted  information  and  correct  patent  errors in any documents
executed  by  any  Assignor  or  on  any  Assignor's  behalf;  to file financing
statements  against  such  Assignor  covering the Collateral (and, in connection

<PAGE>

with  the  filing  of  any such financing statements, describe the Collateral as
"all  assets  and  all  personal  property,  whether  now owned and/or hereafter
acquired"  (or  any  substantially  similar  variation  thereof));  to sign such
Assignor's  name  on  public  records;  and  to  do all other things Laurus deem
necessary  to  carry  out  this  Master Security Agreement. Each Assignor hereby
ratifies  and  approves  all  acts  of  the  attorney and neither Laurus nor the
attorney  will  be  liable  for  any acts of commission or omission, nor for any
error  of  judgment  or  mistake  of  fact or law other than gross negligence or
willful  misconduct  (as  determined  by  a court of competent jurisdiction in a
final  and  non-appealable decision). This power being coupled with an interest,
is  irrevocable  so  long  as  any  Obligations  remains  unpaid.

     8.  No  delay or failure on Laurus' part in exercising any right, privilege
or  option  hereunder  shall  operate as a waiver of such or of any other right,
privilege,  remedy  or option, and no waiver whatsoever shall be valid unless in
writing,  signed by Laurus and then only to the extent therein set forth, and no
waiver  by  Laurus of any default shall operate as a waiver of any other default
or  of  the  same  default  on  a  future  occasion.  Laurus'  books and records
containing  entries  with  respect  to  the  Obligations  shall be admissible in
evidence  in  any  action or proceeding, shall be binding upon each Assignor for
the  purpose  of  establishing  the items therein set forth and shall constitute
prima  facie  proof  thereof.  Laurus shall have the right to enforce any one or
more  of  the  remedies  available  to  Laurus,  successively,  alternately  or
concurrently.  Each  Assignor  agrees  to  join  with  Laurus  in executing such
documents  or other instruments to the extent required by the Uniform Commercial
Code  in  form  satisfactory  to Laurus and in executing such other documents or
instruments  as  may  be  required or deemed necessary by Laurus for purposes of
affecting  or  continuing  Laurus'  security  interest  in  the  Collateral.

     9.  This  Master  Security Agreement shall be governed by and construed and
enforced  in  accordance  with  the  laws of the State of New York applicable to
contracts  made and performed in such state and cannot be terminated orally. All
of  the  rights,  remedies,  options,  privileges  and elections given to Laurus
hereunder shall inure to the benefit of Laurus' successors and assigns. The term
"Laurus"  as  herein  used  shall  include  Laurus, any parent of Laurus, any of
Laurus'  subsidiaries  and  any  co-subsidiaries  of Laurus' parent, whether now
existing  or  hereafter  created  or acquired, and all of the terms, conditions,
promises,  covenants, provisions and warranties of this Agreement shall inure to
the  benefit  of  each  of  the  foregoing,  and shall bind the representatives,
successors  and  assigns  of  each  Assignor.

     10.  Each  Assignor  hereby  consents  and agrees that the state or federal
courts located in the County of New York, State of New York shall have exclusive
jurisdiction  to  hear and determine any claims or disputes between Assignor, on
the  one hand, and Laurus, on the other hand, pertaining to this Master Security
Agreement  or  to  any  matter arising out of or related to this Master Security
Agreement, provided, that Laurus and each Assignor acknowledges that any appeals
from  those courts may have to be heard by a court located outside of the County
of  New  York,  State  of  New  York, and further provided, that nothing in this
Master  Security  Agreement  shall  be deemed or operate to preclude Laurus from
bringing  suit or taking other legal action in any other jurisdiction to collect
on  the  Obligations, to realize on the Collateral or any other security for the
Obligations,  or  to enforce a judgment or other court order in favor of Laurus.
Each  Assignor expressly submits and consents in advance to such jurisdiction in
any  action or suit commenced in any such court, and each Assignor hereby waives
any  objection  which  it  may  have  based  upon lack of personal jurisdiction,
improper  venue  or  forum  non conveniens. Each Assignor hereby waives personal
                     ---------------------
service of the summons, complaint and other process issues in any such action or

<PAGE>

suit and agrees that service of such summons, complaint and other process may be
made  by  registered or certified mail addressed to such assignor at the address
set forth on the signature lines hereto and that service so made shall be deemed
completed  upon  the  earlier of such Assignor's actual receipt thereof or three
(3)  days  after  deposit  in  the  U.S.  mails,  proper  postage  prepaid.

     The parties desire that their disputes be resolved by a judge applying such
applicable  laws.  Therefore, to achieve the best combination of the benefits of
the  judicial  system and of arbitration, the parties hereto waive all rights to
trial by jury in any action, suit, or proceeding brought to resolve any dispute,
whether  arising  in  contract,  tort,  or  otherwise  between Laurus and/or any
Assignor  arising  out  of,  connected  with,  related  or  incidental  to  the
relationship  established  between  them in connection with this Master Security
Agreement  or  the  transactions  related  hereto.

     11.  It  is understood and agreed that any person or entity that desires to
become  an  Assignor  hereunder, or is required to execute a counterpart of this
Master  Security Agreement after the date hereof pursuant to the requirements of
any  Document,  shall  become  an  Assignor hereunder by (a) executing a Joinder
Agreement  in  form  and  substance  satisfactory  to  Laurus,  (b)  delivering
supplements  to  such  exhibits  and  annexes  to such Documents as Laurus shall
reasonably  request  and  (c)  taking  all  actions  as specified in this Master
Security  Agreement  as  would  have  been taken by such Assignor had it been an
original  party  to  this  Master  Security  Agreement,  in  each  case with all
documents  required  above  to be delivered to Laurus and with all documents and
actions  required  above  to  be taken to the reasonable satisfaction of Laurus.

<PAGE>

     12.  All notices from Laurus to any Assignor shall be sufficiently given if
mailed  or  delivered  to  such  Assignor's  address  set  forth  below.

                                Very truly yours,

                                NEW CENTURY ENERGY CORP.

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

                                CENTURY RESOURCES, INC.

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

                                GULF  COAST  OIL  CORPORATION

                                /s/ Edward R. DeStefano
                                -----------------------------
                                Edward  DeStefano
                                President

                                Address:     5851 San Felipe, Suite 775
                                             Houston, TX 77057

                                ACKNOWLEDGED:

                                LAURUS MASTER FUND, LTD.

                                By: /s/ Eugene Grin
                                   ----------------------
                                   Name: Eugene Grin
                                   Title Director

<PAGE>

                                   SCHEDULE A

                             COMMERCIAL TORT CLAIMS

                                      None

<PAGE>
                                   SCHEDULE B

                          Jurisdiction of
       Entity               Formation         Organization Identification Number

New Century Energy Corp.     Colorado                   20031402340

Century Resources, Inc.      Delaware                       2029277

Gulf Coast Oil Corporation   Delaware                       4143411

<PAGE>

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