Document:

EXHIBIT 10.25

         THE SECURITIES  EVIDENCED BY THIS  CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE  SECURITIES  ACT OF 1933,  AS  AMENDED,  AND MAY NOT BE SOLD,
         TRANSFERRED,  ASSIGNED OR  HYPOTHECATED  UNLESS  THERE IS AN  EFFECTIVE
         REGISTRATION  STATEMENT  UNDER SUCH ACT COVERING SUCH  SECURITIES,  THE
         SALE IS MADE IN  ACCORDANCE  WITH RULE 144, OR THE COMPANY  RECEIVES AN
         OPINION  OF  COUNSEL  FOR THE  HOLDER OF THESE  SECURITIES,  REASONABLY
         SATISFACTORY  TO  THE  COMPANY,   STATING  THAT  SUCH  SALE,  TRANSFER,
         ASSIGNMENT  OR  HYPOTHECATION  IS  EXEMPT  FROM  THE  REGISTRATION  AND
         PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

                          FORM OF AMENDED AND RESTATED
                         OPTION TO PURCHASE COMMON STOCK
                                       OF
                      CONTINENTAL SOUTHERN RESOURCES, INC.
                            Void after August 7, 2008

WHEREAS,  the Company and Holder are parties to that certain  Option To Purchase
Common Stock of the Company dated November 4, 2002 (the "Previous Option"); and

WHEREAS,  Holder and the Company desire to amend and restate the Previous Option
to extend the  termination  date from  November  4, 2002 to August 7, 2008,  and
reduce the exercise price from $5.00 per share to $2.30 per share.

NOW, THEREFORE, in consideration of the foregoing, the agreement set forth below
and other good and valuable  consideration  the receipt and sufficiency of which
are hereby  acknowledged,  and intending to be legally bound, the Parties hereby
agree as follows:

         This certifies that, for value received,  [Name of Holder]  ("Holder"),
is entitled,  subject to the terms set forth below, to purchase from CONTINENTAL
SOUTHERN  RESOURCES,  INC., a Nevada corporation (the "Company"),  shares of the
common stock,  $.001 par value per share, of the Company  ("Common  Stock"),  as
constituted  on November 4, 2002 (the "Option Issue  Date"),  with the Notice of
Exercise  attached hereto duly executed,  and  simultaneous  payment therefor in
lawful money of the United States or as otherwise  provided in Section 3 hereof,
at the Exercise Price then in effect.  The number,  character and Exercise Price
of the shares of Common  Stock  issuable  upon  exercise  hereof are  subject to
adjustment as provided herein.

         1. TERM OF OPTION.  This Option  shall be  exercisable,  in whole or in
part,  during the term  commencing  on the Option  Issue Date and ending at 5:00
p.m.  CST on August 7, 2008 (the  "Option  Expiration  Date")  and shall be void
thereafter.

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         2. NUMBER OF SHARES AND EXERCISE PRICE.

                  2.1  NUMBER OF SHARES.  The  number of shares of Common  Stock
which may be  purchased  pursuant  to this Option  shall be 100,000  shares (the
"Shares"), subject, however, to adjustment pursuant to Section 11 hereof.

                  2.2 EXERCISE  PRICE.  The Exercise Price at which this Option,
or portion thereof, may be exercised shall be $2.30 per Share, subject, however,
to adjustment pursuant to Section 11 hereof.

         3. EXERCISE OF OPTION.

                  3.1 PAYMENT OF EXERCISE  PRICE.  Subject to the terms  hereof,
the purchase rights  represented by this Option are exercisable by the Holder in
whole or in part,  at any time,  or from time to time,  by the surrender of this
Option and the Notice of Exercise  annexed hereto duly completed and executed on
behalf of the  Holder,  at the office of the  Company  (or such other  office or
agency of the Company as it may  designate by notice in writing to the Holder at
the address of the Holder appearing on the books of the Company)  accompanied by
payment of the Exercise Price in full either (i) in cash or by bank or certified
check for the Shares  with  respect to which this Option is  exercised;  (ii) by
delivery to the Company of shares of the  Company's  Common  Stock having a Fair
Market Value (as defined  below) equal to the  aggregate  Exercise  Price of the
Shares being  purchased  which Holder is the record and beneficial  owner of and
which  have been held by the  Holder  for at least six (6)  months;  or (iii) by
delivering  to the Company a Notice of  Exercise  together  with an  irrevocable
direction to a  broker-dealer  registered  under the Securities  Exchange Act of
1934,  as amended (the  "Exchange  Act"),  to sell a  sufficient  portion of the
Shares  and  deliver  the sales  proceeds  directly  to the  Company  to pay the
Exercise  Price;  or (iv) by any  combination  of the  procedures  set  forth in
subsections (i), (ii) and (iii) of this Section 3.1.

                  3.2 FAIR MARKET VALUE.  If  previously  owned shares of Common
Stock are  tendered as payment of the Exercise  Price,  the value of such shares
shall be the "Fair Market Value" of such shares on the trading date  immediately
preceding  the date of exercise.  For the purpose of this  Agreement,  the "Fair
Market Value" shall be:

                           (a) If the Common Stock is admitted to quotation on
the National  Association  of  Securities  Dealers  Automated  Quotation  System
("NASDAQ"),  the Fair Market Value on any given date shall be the average of the
highest bid and lowest  asked  prices of the Common  Stock as reported  for such
date or, if no bid and asked prices were  reported  for such date,  for the last
day preceding such date for which such prices were reported;

                           (b) If the Common Stock is admitted to trading on a
United States securities exchange or the NASDAQ National Market System, the Fair
Market  Value on any date shall be the  closing  price  reported  for the Common
Stock on such exchange or system for such

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date or, if no sales were  reported  for such date,  for the last day  preceding
such date for which a sale was reported;

                           (c) If the Common Stock is traded in the
over-the-counter  market and not on any national  securities exchange nor in the
NASDAQ Reporting System,  the Fair Market Value shall be the average of the mean
between  the last bid and ask prices  per share,  as  reported  by the  National
Quotation Bureau,  Inc., or an equivalent  generally accepted reporting service,
or if not so  reported,  the average of the  closing bid and asked  prices for a
share as furnished to the Company by any member of the National  Association  of
Securities Dealers, Inc., selected by the Company for that purpose; or

                           (d) If the Fair Market Value of the Common Stock
cannot be determined on the basis previously set forth in this definition on the
date that the Fair Market Value is to be  determined,  the Board of Directors of
the Company  shall in good faith  determine  the Fair Market Value of the Common
Stock on such date.

If the tender of previously  owned shares would result in an issuance of a whole
number of Shares  and a  fractional  Share of  Common  Stock,  the value of such
fractional share shall be paid to the Company in cash or by check by the Holder.

                  3.3.     TERMINATION OF STATUS AS A DIRECTOR; DEATH.

                    (a) If Holder  shall cease to serve as a member of the Board
of  Directors of the  Company,  all Options to which Holder is then  entitled to
exercise  may be  exercised  only  within  ninety (90) days after such event and
prior to the Option Termination Date; PROVIDED,  HOWEVER, in the event that such
cessation  shall be for cause,  as  determined  by the Board of Directors of the
Company, then this Option shall forthwith terminate.

                    (b) If Holder  shall die  while  serving  as a member of the
Board of Directors of the Company and prior to the Option  Termination Date, any
Options  then  exercisable  may be  exercised  only  within  one (1) year  after
Holder's death,  prior to the Option  Termination  Date and only by the Holder's
personal  representative  or persons entitled thereto under the Holder's will or
the laws of descent and distribution.

                    (c)  This  Option  may  not be  exercised  for  more  Shares
(subject to  adjustment as provided in Section 11 hereof) after Holder ceases to
serve as a member of the Board of Directors of the Company or death, as the case
may be, than the Holder was entitled to purchase  thereunder  at the time of the
termination of Holder's status as a member of the Board of Directors or death.

                  3.4 EXERCISE DATE; DELIVERY OF CERTIFICATES. This Option shall
be deemed to have been exercised  immediately  prior to the close of business on
the date of its  surrender for exercise as provided  above,  and Holder shall be
treated for all  purposes as the holder of record of such Shares as of the close
of business on such date. As promptly as  practicable  on or after such date and
in any event within ten (10) days  thereafter,  the Company at its expense shall
issue and deliver to the Holder a certificate or certificates  for the number of
Shares  issuable upon such

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exercise. In the event that this Option is exercised in part, the Company at its
expense will execute and deliver a new Option of like tenor  exercisable for the
number of shares for which this Option may then be exercised.

     4.  NO  FRACTIONAL   SHARES  OR  SCRIP.  No  fractional   shares  or  scrip
representing fractional shares shall be issued upon the exercise of this Option.
In lieu of any fractional share to which the Holder would otherwise be entitled,
the Company shall make a cash payment equal to the Exercise Price  multiplied by
such fraction.

     5. REPLACEMENT OF OPTION. On receipt of evidence reasonably satisfactory to
the Company of the loss, theft, destruction or mutilation of this Option and, in
the case of loss,  theft or destruction,  on delivery of an indemnity  agreement
reasonably  satisfactory in form and substance to the Company or, in the case of
mutilation,  on surrender and  cancellation  of this Option,  the Company at its
expense shall execute and deliver,  in lieu of this Option, a new Option of like
tenor and amount.

     6. RIGHTS OF  STOCKHOLDER.  Except as otherwise  contemplated  herein,  the
Holder  shall not be  entitled  to vote or  receive  dividends  or be deemed the
holder of Common  Stock or any other  securities  of the Company that may at any
time be issuable on the  exercise  hereof for any  purpose,  nor shall  anything
contained  herein be  construed to confer upon the Holder,  as such,  any of the
rights of a stockholder  of the Company or any right to vote for the election of
directors or upon any matter  submitted to stockholders at any meeting  thereof,
or to give or  withhold  consent  to any  corporate  action  (whether  upon  any
recapitalization,  issuance of stock,  reclassification  of stock, change of par
value, or change of stock to no par value, consolidation,  merger, conveyance or
otherwise)  or to  receive  notice  of  meetings,  or to  receive  dividends  or
subscription  rights or otherwise  until the Option shall have been exercised as
provided herein.

     7. TRANSFER OF OPTION.

                  7.1.  NON-TRANSFERABILITY.  This Option shall not be assigned,
transferred,  pledged or  hypothecated  in any way,  nor  subject to  execution,
attachment or similar process,  otherwise than by will or by the laws of descent
and distribution.  Any attempted assignment,  transfer, pledge, hypothecation or
other disposition of this Option contrary to the provisions hereof, and the levy
of an execution,  attachment,  or similar process upon the Option, shall be null
and void and without effect.

                  7.2.   COMPLIANCE  WITH  SECURITIES   LAWS;   RESTRICTIONS  ON
TRANSFERS. In addition to restrictions on transfer of this Option and Shares set
forth in Section 7.1 above.

                           (a) The Holder of this Option, by acceptance hereof,
acknowledges  that this Option and the Shares to be issued upon exercise  hereof
are being acquired  solely for the Holder's own account and not as a nominee for
any other party,  and for  investment  (unless such shares are subject to resale
pursuant to an effective  prospectus),  and that the Holder will not offer, sell
or  otherwise  dispose of any Shares to be issued upon  exercise  hereof  except
under  circumstances  that will not result in a violation of applicable  federal
and state  securities  laws. Upon exercise of this Option,  the Holder shall, if
requested  by the Company,  confirm in writing,

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in a form  satisfactory  to the  Company,  that the  Shares of  Common  Stock so
purchased  are being  acquired  solely for the Holder's own account and not as a
nominee for any other party,  for investment  (unless such shares are subject to
resale  pursuant  to an  effective  prospectus),  and  not  with a  view  toward
distribution or resale.

                           (b) Neither this Option nor any share of Common Stock
issued  upon  exercise  of this  Option  may be  offered  for sale or  sold,  or
otherwise  transferred or sold in any transaction  which would constitute a sale
thereof  within the meaning of the 1933 Act,  unless (i) such  security has been
registered  for sale  under  the  1933 Act and  registered  or  qualified  under
applicable  state  securities  laws relating to the offer an sale of securities;
(ii)  exemptions  from  the  registration  requirements  of the 1933 Act and the
registration or qualification requirements of all such state securities laws are
available and the Company shall have received an opinion of counsel satisfactory
to the Company that the proposed sale or other  disposition  of such  securities
may be effected without  registration under the 1933 Act and would not result in
any  violation  of  any  applicable   state  securities  laws  relating  to  the
registration  or  qualification  of securities  for sale,  such counsel and such
opinion to be satisfactory to the Company.

                           (c) All Shares issued upon exercise hereof shall be
stamped or imprinted  with a legends in  substantially  the  following  form (in
addition to any legend required by state securities laws).

         THE SECURITIES  EVIDENCED BY THIS  CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE  SECURITIES  ACT OF 1933,  AS  AMENDED,  AND MAY NOT BE SOLD,
         TRANSFERRED,  ASSIGNED OR  HYPOTHECATED  UNLESS  THERE IS AN  EFFECTIVE
         REGISTRATION  STATEMENT  UNDER SUCH ACT COVERING SUCH  SECURITIES,  THE
         SALE IS MADE IN  ACCORDANCE  WITH RULE 144, OR THE COMPANY  RECEIVES AN
         OPINION  OF  COUNSEL  FOR THE  HOLDER OF THESE  SECURITIES,  REASONABLY
         SATISFACTORY  TO  THE  COMPANY,   STATING  THAT  SUCH  SALE,  TRANSFER,
         ASSIGNMENT  OR  HYPOTHECATION  IS  EXEMPT  FROM  THE  REGISTRATION  AND
         PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

         8. RESERVATION AND ISSUANCE OF STOCK; PAYMENT OF TAXES.

                  (a) The  Company  covenants  that  during  the term  that this
Option is exercisable, the Company will reserve from its authorized and unissued
Common  Stock a  sufficient  number of shares to provide for the issuance of the
Shares  upon the  exercise of this  Option,  and from time to time will take all
steps necessary to amend its Certificate of Incorporation to provide  sufficient
reserves of shares of Common Stock issuable upon the exercise of the Option.

                  (b) The Company  further  covenants  that all shares of Common
Stock  issuable upon the due exercise of this Option will be free and clear from
all taxes or liens,  charges and security  interests created by the Company with
respect to the issuance thereof,  however, the Company shall not be obligated or
liable for the  payment of any taxes,  liens or charges of Holder,  or any other
party  contemplated  by Section 7, incurred in  connection  with the issuance of
this

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Option or the Common  Stock upon the due  exercise of this  Option.  The Company
agrees that its issuance of this Option shall  constitute  full authority to its
officers  who are  charged  with the duty of  executing  stock  certificates  to
execute and issue the necessary certificates for the shares of Common Stock upon
the exercise of this Option.  The Common Stock issuable upon the due exercise of
this Option,  will, upon issuance in accordance  with the terms hereof,  be duly
authorized, validly issued, fully paid and non-assessable.

                  (c) Upon  exercise of the Option,  the Company  shall have the
right to require  the Holder to remit to the  Company  an amount  sufficient  to
satisfy  federal,  state  and local tax  withholding  requirements  prior to the
delivery of any certificate for Shares of Common Stock purchased pursuant to the
Option, if in the opinion of counsel to the Company such withholding is required
under applicable tax laws.

                  (d) If  Holder  is  obligated  to pay the  Company  an  amount
required to be withheld under  applicable tax withholding  requirements  may pay
such amount (i) in cash; (ii) in the discretion of the Board of Directors of the
Company,  through  the  delivery to the  Company of  previously-owned  shares of
Common Stock having an aggregate  Fair Market Value equal to the tax  obligation
provided  that the  previously  owned shares  delivered in  satisfaction  of the
withholding  obligations  must have been held by the Holder for at least six (6)
months;  (iii) in the  discretion  of the  Board of  Directors  of the  Company,
through the  withholding  of Shares of Common  Stock  otherwise  issuable to the
Holder in connection with the Option exercise;  or (iv) in the discretion of the
Board of Directors of the Company,  through a combination  of the procedures set
forth in subsections (i), (ii) and (iii) of this Section 8(d).

         9.       NOTICES.

                  (a)  Whenever   the   Exercise   Price  or  number  of  shares
purchasable  hereunder  shall be  adjusted  pursuant  to Section 11 hereof,  the
Company shall issue a certificate  signed by its Chief Financial Officer setting
forth, in reasonable detail,  the event requiring the adjustment,  the amount of
the  adjustment,  the method by which such  adjustment was  calculated,  and the
Exercise Price and number of shares purchasable hereunder after giving effect to
such  adjustment,  and shall cause a copy of such  certificate  to be mailed (by
first-class mail, postage prepaid) to the Holder of this Option.

                  (b) All notices,  advices and communications under this Option
shall be deemed to have been given, (i) in the case of personal delivery, on the
date of such delivery and (ii) in the case of mailing, on the third business day
following the date of such mailing, addressed as follows:

                           If to the Company:

                           Continental Southern Resources, Inc.
                           111 Presidential Boulevard
                           Suite 158A
                           Bala Cynwyd, PA 19004

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                           With a copy to:

                           Spector Gadon & Rosen, PC
                           1635 Market Street, 7th Floor
                           Philadelphia, Pa. 19103
                           Attn.:  Vincent A. Vietti, Esquire

                           and to the Holder:

                           [Name of Holder]

                           -------------------------------

                           -------------------------------

         Either of the  Company or the  Holder may from time to time  change the
address  to  which  notices  to it are  to be  mailed  hereunder  by  notice  in
accordance with the provisions of this Paragraph 9.

     10. AMENDMENTS.

                  (a) Any term of this  Option may be amended  with the  written
consent of the Company and the Holder. Any amendment effected in accordance with
this  Section 10 shall be binding  upon the Holder,  each future  holder and the
Company.

                  (b) No waivers of, or  exceptions  to, any term,  condition or
provision of this Option,  in any one or more instances,  shall be deemed to be,
or construed as, a further or continuing  waiver of any such term,  condition or
provision.

     11. ADJUSTMENTS. The number of Shares of Common Stock purchasable hereunder
and the  Exercise  Price is  subject  to  adjustment  from time to time upon the
occurrence of certain events, as follows:

                  11.1. REORGANIZATION, MERGER OR SALE OF ASSETS. If at any time
while this Option,  or any portion  thereof,  is outstanding and unexpired there
shall  be (i) a  reorganization  (other  than a  combination,  reclassification,
exchange or  subdivision  of shares  otherwise  provided for herein);  or (ii) a
merger or  consolidation  of the  Company in which the  shares of the  Company's
capital  stock  outstanding  immediately  prior to the merger are  converted  by
virtue of the merger  into other  property,  whether in the form of  securities,
cash  or  otherwise,  then,  as  a  part  of  such  reorganization,  merger,  or
consolidation,  lawful provision shall be made so that the holder of this Option
shall upon such  reorganization,  merger,  or  consolidation,  have the right by
exercising  such  Option,  to  purchase  the kind and number of shares of Common
Stock or other securities or property (including cash) otherwise receivable upon
such reorganization, merger or consolidation by a holder of the number of shares
of Common  Stock that might have been  purchased  upon  exercise  of such Option
immediately prior to such reorganization, merger or consolidation. The foregoing
provisions   of  this  Section  11.1  shall   similarly   apply  to   successive
reorganizations,  consolidations  or  mergers.  If the  per-share  consideration
payable to the Holder hereof for shares in connection with any such  transaction
is in a form other than cash or
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marketable securities,  then the value of such consideration shall be determined
in good faith by the Company's  Board of Directors.  In all events,  appropriate
adjustment  (as  determined in good faith by the  Company's  Board of Directors)
shall be made in the  application  of the provisions of this Option with respect
to the rights and interests of the Holder after the transaction, to the end that
the provisions of this Option shall be applicable  after that event,  as near as
reasonably may be, in relation to any shares or other property deliverable after
that event upon exercise of this Option.

                  11.2. RECLASSIFICATION. If the Company, at any time while this
Option,  or  any  portion  thereof,   remains  outstanding  and  unexpired,   by
reclassification of securities or otherwise,  shall change any of the securities
as to which purchase rights under this Option exist into the same or a different
number of securities of any other class or classes, this Option shall thereafter
represent  the right to acquire such number and kind of securities as would have
been issuable as the result of such change with respect to the  securities  that
were subject to the purchase rights under this Option  immediately prior to such
reclassification  or other  change  and the  Exercise  Price  therefor  shall be
appropriately  adjusted,  all subject to further  adjustment as provided in this
Section 11.

                  11.3.  SPLIT,  SUBDIVISION OR  COMBINATION  OF SHARES.  If the
Company  at any  time  while  this  Option,  or  any  portion  thereof,  remains
outstanding and unexpired shall split, subdivide or combine the securities as to
which  purchase  rights  under this Option  exist,  into a  different  number of
securities  of the same  class,  the  Exercise  Price  and the  number of shares
issuable upon exercise of this Option shall be proportionately adjusted.

                  11.4.  ADJUSTMENTS FOR DIVIDENDS IN STOCK OR OTHER  SECURITIES
OR PROPERTY.  If while this Option, or any portion hereof,  remains  outstanding
and unexpired the holders of the  securities as to which  purchase  rights under
this Option  exist at the time shall have  received,  or, on or after the record
date fixed for the  determination  of eligible  Stockholders,  shall have become
entitled to receive,  without  payment  therefor,  other or additional  stock or
other  securities  or  property  (other  than  cash)  of the  Company  by way of
dividend,  then and in each  case,  this  Option  shall  represent  the right to
acquire,  in addition to the number of shares of the  security  receivable  upon
exercise of this Option,  and without  payment of any  additional  consideration
therefor,  the amount of such other or additional  stock or other  securities or
property  (other  than cash) of the Company  that such holder  would hold on the
date  of  such  exercise  had it been  the  holder  of  record  of the  security
receivable  upon exercise of this Option on the date hereof and had  thereafter,
during  the  period  from  the date  hereof  to and  including  the date of such
exercise,  retained  such  shares  and/or  all  other  additional  stock,  other
securities or property available by this Option as aforesaid during such period.

                  11.5  GOOD  FAITH.  The  Company  will not,  by any  voluntary
action, avoid or seek to avoid the observance or performance of any of the terms
to be observed or performed  hereunder by the Company,  but will at all times in
good faith assist in the carrying out of all the  provisions  of this Section 11
and in the taking of all such action as may be necessary or appropriate in order
to protect the rights of the Holder of this Option against impairment.

     12.   FUNDAMENTAL   TRANSACTION.   For  purposes  of  this  Section  12,  a
"Fundamental  Transaction"  shall mean (i) the dissolution or liquidation of the
Company; (ii) a merger,  reorganization or consolidation in which the Company is
acquired by another person or entity (other than a holding company formed by the
Company);  (iii)  the  sale of all or  substantially  all of the  assets  of the
Company to any person or persons;  or (iv) the sale in a single transaction or a
series of related  transactions  of voting  stock  representing  more than fifty
percent  (50%) of the voting power of all  outstanding  shares of the Company to
any person or persons. In the event of a Fundamental  Transaction,  Holder shall
be given at least 15 days prior written notice of a Fundamental  Transaction and
shall be permitted  to exercise  this Option  during this 15 day period.  In the
event of a Fundamental  Transaction,  any Options  which are neither  assumed or
substituted for in connection with the Fundamental  Transaction nor exercised as
of the date of the  Fundamental  Transaction,  shall  terminate  and cease to be
outstanding  effective  as of the date of the  Fundamental  Transaction,  unless
otherwise provided by the Board of Directors of the Company.

     13. SEVERABILITY. Whenever possible, each provision of this Option shall be
interpreted  in such manner as to be effective and valid under  applicable  law,
but  if any  provision  of  this  Option  is  held  to be  invalid,  illegal  or
unenforceable   in  any  respect  under  any  applicable  law  or  rule  in  any
jurisdiction,  such invalidity,  illegality or unenforceability shall not affect
the validity,  legality or  enforceability of any other provision of this Option
in such  jurisdiction or affect the validity,  legality or enforceability of any
provision  in any  other  jurisdiction,  but  this  Option  shall  be  reformed,
construed  and  enforced in such  jurisdiction  as if such  invalid,  illegal or
unenforceable provision had never been contained herein.

     14.  GOVERNING  LAW. The  corporate law of the State of Nevada shall govern
all issues and questions  concerning the relative  rights of the Company and its
stockholders.  All  other  questions  concerning  the  construction,   validity,
interpretation  and enforceability of this Option and the exhibits and schedules
hereto shall be governed by, and construed in accordance  with,  the laws of the
State of Pennsylvania, without giving effect to any choice of law or conflict of
law  rules or  provisions  (whether  of the State of  Pennsylvania  or any other
jurisdiction)  that would cause the application of the laws of any  jurisdiction
other than the State of Pennsylvania.

     15.  JURISDICTION.  The Holder and the Company  agree to submit to personal
jurisdiction  and to waive any  objection  as to venue in the  federal  or state
courts of  Pennsylvania.  Service of process on the Company or the Holder in any
action arising out of or relating to this Option shall be effective if mailed to
such party at the address listed in Section 9 hereof.

     16.  ARBITRATION.  If a dispute arises as to interpretation of this Option,
it shall be decided  finally by three  arbitrators in an arbitration  proceeding
conforming to the Rules of the American  Arbitration  Association  applicable to
commercial  arbitration.  The arbitrators shall be appointed as follows:  one by
the Company, one by the Holder and the third by the said two arbitrators, or, if
they cannot agree,  then the third arbitrator shall be appointed by the American
Arbitration Association. The third arbitrator shall be chairman of the panel and
shall be  impartial.  The  decision  of a majority of the  arbitrators  shall be
conclusively  binding  upon the parties and final,  and such  decision  shall be
enforceable  as a judgment in any court of  competent  jurisdiction.  Each party
shall pay the fees and expenses of the  arbitrator  appointed by it, its

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counsel and its witnesses. The parties shall share equally the fees and expenses
of the impartial arbitrator.

     17. CORPORATE POWER; AUTHORIZATION; ENFORCEABLE OBLIGATIONS. The execution,
delivery  and  performance  by the  Company of this  Option:  (i) are within the
Company's  corporate  power;  (ii) have been duly authorized by all necessary or
proper  corporate  action;  (iii)  are  not in  contravention  of the  Company's
certificate of  incorporation  or bylaws;  (iv) will not violate in any material
respect,  any  law or  regulation,  including  any  and all  Federal  and  state
securities   laws,  or  any  order  or  decree  of  any  court  or  governmental
instrumentality;  and (v) will not, in any material  respect,  conflict  with or
result  in the  breach or  termination  of, or  constitute  a default  under any
agreement  or other  material  instrument  to which the Company is a party or by
which the Company is bound.

     18.  SUCCESSORS AND ASSIGNS.  This Option shall inure to the benefit of and
be binding on the respective  successors,  assigns and legal  representatives of
the Holder and the Company.

         IN WITNESS  WHEREOF,  the Company has caused this Option to be executed
on this 8th day of August, 2003.

                                      CONTINENTAL SOUTHERN RESOURCES, INC.

                                      By:
                                      ------------------------------------
                                            Stephen P. Harrington
                                                  President

                                       10

<PAGE>

                               NOTICE OF EXERCISE

TO:  [_____________________________]

         (1) The undersigned  hereby elects to purchase _______ shares of Common
Stock of  CONTINENTAL  SOUTHERN  RESOURCES,  INC.  pursuant  to the terms of the
attached  Option,  and tenders  herewith  payment of the purchase price for such
shares  in full in the  following  manner  (please  check  one of the  following
choices):

         [ ]      In Cash

         [ ]      Cashless exercise through a broker; or

         [ ]      Delivery of previously owned Shares.

         (2) In exercising  this Option,  the  undersigned  hereby  confirms and
acknowledges  that the  shares of  Common  Stock to be  issued  upon  conversion
thereof are being acquired  solely for the account of the undersigned and not as
a nominee  for any other  party,  and for  investment  (unless  such  shares are
subject to resale pursuant to an effective prospectus), and that the undersigned
will not offer,  sell or  otherwise  dispose of any such shares of Common  Stock
except under circumstances that will not result in a violation of the Securities
Act of 1933, as amended, or any state securities laws.

         (3) Please issue a certificate or certificates representing said shares
of Common Stock in the name of the undersigned.

                                                 [Name of Holder]

--------------------------                       -----------------------------
(Date)                                           (Signature)

                                       11EXHIBIT 10.26

         THE SECURITIES  EVIDENCED BY THIS  CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE  SECURITIES  ACT OF 1933,  AS  AMENDED,  AND MAY NOT BE SOLD,
         TRANSFERRED,  ASSIGNED OR  HYPOTHECATED  UNLESS  THERE IS AN  EFFECTIVE
         REGISTRATION  STATEMENT  UNDER SUCH ACT COVERING SUCH  SECURITIES,  THE
         SALE IS MADE IN  ACCORDANCE  WITH RULE 144, OR THE COMPANY  RECEIVES AN
         OPINION  OF  COUNSEL  FOR THE  HOLDER OF THESE  SECURITIES,  REASONABLY
         SATISFACTORY  TO  THE  COMPANY,   STATING  THAT  SUCH  SALE,  TRANSFER,
         ASSIGNMENT  OR  HYPOTHECATION  IS  EXEMPT  FROM  THE  REGISTRATION  AND
         PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

                         OPTION TO PURCHASE COMMON STOCK
                                       OF
                      CONTINENTAL SOUTHERN RESOURCES, INC.
                            Void after August 3, 2008

         This  certifies  that,  for  value   received,   JOSEPH  M.  FIORAVANTI
("Holder"), is entitled,  subject to the terms set forth below, to purchase from
CONTINENTAL  SOUTHERN  RESOURCES,  INC., a Nevada  corporation  (the "Company"),
shares of the common stock,  $.001 par value per share, of the Company  ("Common
Stock"),  as constituted on the date hereof (the "Option Issue Date"),  with the
Notice of Exercise  attached  hereto duly  executed,  and  simultaneous  payment
therefor  in lawful  money of the  United  States or as  otherwise  provided  in
Section 3 hereof,  at the Exercise Price then in effect.  The number,  character
and Exercise Price of the shares of Common Stock  issuable upon exercise  hereof
are subject to adjustment as provided herein.

         1. TERM OF OPTION.  This Option  shall be  exercisable,  in whole or in
part,  during the term  commencing  on the Option  Issue Date and ending at 5:00
p.m.  CST on August 3, 2008 (the  "Option  Expiration  Date")  and shall be void
thereafter.

         2. NUMBER OF SHARES AND EXERCISE PRICE.

                  2.1  NUMBER OF SHARES.  The  number of shares of Common  Stock
which may be  purchased  pursuant  to this Option  shall be 200,000  shares (the
"Shares"), subject, however, to adjustment pursuant to Section 11 hereof.

                  2.2 EXERCISE  PRICE.  The Exercise Price at which this Option,
or portion thereof, may be exercised shall be $3.00 per Share, subject, however,
to adjustment pursuant to Section 11 hereof.

<PAGE>

         3. EXERCISE OF OPTION.

                  3.1 PAYMENT OF EXERCISE  PRICE.  Subject to the terms  hereof,
the purchase rights  represented by this Option are exercisable by the Holder in
whole or in part,  at any time,  or from time to time,  by the surrender of this
Option and the Notice of Exercise  annexed hereto duly completed and executed on
behalf of the  Holder,  at the office of the  Company  (or such other  office or
agency of the Company as it may  designate by notice in writing to the Holder at
the address of the Holder appearing on the books of the Company)  accompanied by
payment of the Exercise Price in full either (i) in cash or by bank or certified
check for the Shares  with  respect to which this Option is  exercised;  (ii) by
delivery to the Company of shares of the  Company's  Common  Stock having a Fair
Market Value (as defined  below) equal to the  aggregate  Exercise  Price of the
Shares being  purchased  which Holder is the record and beneficial  owner of and
which  have been held by the  Holder  for at least six (6)  months;  or (iii) by
delivering  to the Company a Notice of  Exercise  together  with an  irrevocable
direction to a  broker-dealer  registered  under the Securities  Exchange Act of
1934,  as amended (the  "Exchange  Act"),  to sell a  sufficient  portion of the
Shares  and  deliver  the sales  proceeds  directly  to the  Company  to pay the
Exercise  Price;  or (iv) by any  combination  of the  procedures  set  forth in
subsections (i), (ii) and (iii) of this Section 3.1.

                  3.2 FAIR MARKET VALUE.  If  previously  owned shares of Common
Stock are  tendered as payment of the Exercise  Price,  the value of such shares
shall be the "Fair Market Value" of such shares on the trading date  immediately
preceding  the date of exercise.  For the purpose of this  Agreement,  the "Fair
Market Value" shall be:

               (a) If the Common  Stock is admitted to quotation on the National
Association of Securities  Dealers Automated  Quotation System  ("NASDAQ"),  the
Fair Market  Value on any given date shall be the average of the highest bid and
lowest  asked prices of the Common Stock as reported for such date or, if no bid
and asked prices were reported for such date,  for the last day  preceding  such
date for which such prices were reported;

               (b) If the Common Stock is admitted to trading on a United States
securities  exchange or the NASDAQ National Market System, the Fair Market Value
on any date shall be the closing  price  reported  for the Common  Stock on such
exchange  or system for such date or, if no sales were  reported  for such date,
for the last day preceding such date for which a sale was reported;

               (c) If the Common Stock is traded in the over-the-counter  market
and not on any national  securities exchange nor in the NASDAQ Reporting System,
the Fair Market  Value shall be the average of the mean between the last bid and
ask prices per share, as reported by the National Quotation Bureau,  Inc., or an
equivalent  generally  accepted reporting  service,  or if not so reported,  the
average of the  closing  bid and asked  prices for a share as  furnished  to the
Company by any member of the National  Association of Securities Dealers,  Inc.,
selected by the Company for that purpose; or

               (d) If the  Fair  Market  Value of the  Common  Stock  cannot  be
determined on the basis previously set forth in this definition on the date that
the Fair Market Value is to be determined, the Board of Directors of the Company
shall in good faith  determine the Fair Market Value of the Common Stock on such
date.

                                       2
<PAGE>

If the tender of previously  owned shares would result in an issuance of a whole
number of Shares  and a  fractional  Share of  Common  Stock,  the value of such
fractional share shall be paid to the Company in cash or by check by the Holder.

                  3.3.     TERMINATION OF STATUS AS A DIRECTOR; DEATH.

                    (a)  If Holder shall cease to serve as a member of the Board
of  Directors of the  Company,  all Options to which Holder is then  entitled to
exercise  may be  exercised  only  within  ninety (90) days after such event and
prior to the Option Termination Date; PROVIDED,  HOWEVER, in the event that such
cessation  shall be for cause,  as  determined  by the Board of Directors of the
Company, then this Option shall forthwith terminate.

                    (b)  If Holder  shall die while  serving  as a member of the
Board of Directors of the Company and prior to the Option  Termination Date, any
Options  then  exercisable  may be  exercised  only  within  one (1) year  after
Holder's death,  prior to the Option  Termination  Date and only by the Holder's
personal  representative  or persons entitled thereto under the Holder's will or
the laws of descent and distribution.

                   (c) This Option may not be exercised for more Shares (subject
to  adjustment as provided in Section 11 hereof) after Holder ceases to serve as
a member of the Board of Directors of the Company or death,  as the case may be,
than  the  Holder  was  entitled  to  purchase  thereunder  at the  time  of the
termination of Holder's status as a member of the Board of Directors or death.
                          .
                  3.4 EXERCISE DATE; DELIVERY OF CERTIFICATES. This Option shall
be deemed to have been exercised  immediately  prior to the close of business on
the date of its  surrender for exercise as provided  above,  and Holder shall be
treated for all  purposes as the holder of record of such Shares as of the close
of business on such date. As promptly as  practicable  on or after such date and
in any event within ten (10) days  thereafter,  the Company at its expense shall
issue and deliver to the Holder a certificate or certificates  for the number of
Shares  issuable upon such exercise.  In the event that this Option is exercised
in part,  the  Company at its expense  will  execute and deliver a new Option of
like tenor  exercisable  for the number of shares for which this Option may then
be exercised.

     4.  NO  FRACTIONAL   SHARES  OR  SCRIP.  No  fractional   shares  or  scrip
representing fractional shares shall be issued upon the exercise of this Option.
In lieu of any fractional share to which the Holder would otherwise be entitled,
the Company shall make a cash payment equal to the Exercise Price  multiplied by
such fraction.

     5. REPLACEMENT OF OPTION. On receipt of evidence reasonably satisfactory to
the Company of the loss, theft, destruction or mutilation of this Option and, in
the case of loss,  theft or destruction,  on delivery of an indemnity  agreement
reasonably  satisfactory in form and substance to the Company or, in the case of
mutilation,  on surrender and  cancellation  of this Option,  the Company at its
expense shall execute and deliver,  in lieu of this Option, a new Option of like
tenor and amount.

                                       3

<PAGE>

     6. RIGHTS OF  STOCKHOLDER.  Except as otherwise  contemplated  herein,  the
Holder  shall not be  entitled  to vote or  receive  dividends  or be deemed the
holder of Common  Stock or any other  securities  of the Company that may at any
time be issuable on the  exercise  hereof for any  purpose,  nor shall  anything
contained  herein be  construed to confer upon the Holder,  as such,  any of the
rights of a stockholder  of the Company or any right to vote for the election of
directors or upon any matter  submitted to stockholders at any meeting  thereof,
or to give or  withhold  consent  to any  corporate  action  (whether  upon  any
recapitalization,  issuance of stock,  reclassification  of stock, change of par
value, or change of stock to no par value, consolidation,  merger, conveyance or
otherwise)  or to  receive  notice  of  meetings,  or to  receive  dividends  or
subscription  rights or otherwise  until the Option shall have been exercised as
provided herein.

     7. TRANSFER OF OPTION.

                  7.1.  NON-TRANSFERABILITY.  This Option shall not be assigned,
transferred,  pledged or  hypothecated  in any way,  nor  subject to  execution,
attachment or similar process,  otherwise than by will or by the laws of descent
and distribution.  Any attempted assignment,  transfer, pledge, hypothecation or
other disposition of this Option contrary to the provisions hereof, and the levy
of an execution,  attachment,  or similar process upon the Option, shall be null
and void and without effect.

                  7.2.   COMPLIANCE  WITH  SECURITIES   LAWS;   RESTRICTIONS  ON
TRANSFERS. In addition to restrictions on transfer of this Option and Shares set
forth in Section 7.1 above.

                           (a) The Holder of this Option, by acceptance hereof,
acknowledges  that this Option and the Shares to be issued upon exercise  hereof
are being acquired  solely for the Holder's own account and not as a nominee for
any other party,  and for  investment  (unless such shares are subject to resale
pursuant to an effective  prospectus),  and that the Holder will not offer, sell
or  otherwise  dispose of any Shares to be issued upon  exercise  hereof  except
under  circumstances  that will not result in a violation of applicable  federal
and state  securities  laws. Upon exercise of this Option,  the Holder shall, if
requested  by the Company,  confirm in writing,  in a form  satisfactory  to the
Company,  that the Shares of Common Stock so purchased are being acquired solely
for the  Holder's  own  account and not as a nominee  for any other  party,  for
investment  (unless  such shares are subject to resale  pursuant to an effective
prospectus), and not with a view toward distribution or resale.

                           (b) Neither this Option nor any share of Common Stock
issued  upon  exercise  of this  Option  may be  offered  for sale or  sold,  or
otherwise  transferred or sold in any transaction  which would constitute a sale
thereof  within the meaning of the 1933 Act,  unless (i) such  security has been
registered  for sale  under  the  1933 Act and  registered  or  qualified  under
applicable  state  securities  laws relating to the offer an sale of securities;
(ii)  exemptions  from  the  registration  requirements  of the 1933 Act and the
registration or qualification requirements of all such state securities laws are
available and the Company shall have received an opinion of counsel satisfactory
to the Company that the proposed sale or other  disposition  of such  securities

                                       4

<PAGE>

may be effected without  registration under the 1933 Act and would not result in
any  violation  of  any  applicable   state  securities  laws  relating  to  the
registration  or  qualification  of securities  for sale,  such counsel and such
opinion to be satisfactory to the Company.

                           (c) All Shares issued upon exercise hereof shall be
stamped or imprinted  with a legends in  substantially  the  following  form (in
addition to any legend required by state securities laws).

         THE SECURITIES  EVIDENCED BY THIS  CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE  SECURITIES  ACT OF 1933,  AS  AMENDED,  AND MAY NOT BE SOLD,
         TRANSFERRED,  ASSIGNED OR  HYPOTHECATED  UNLESS  THERE IS AN  EFFECTIVE
         REGISTRATION  STATEMENT  UNDER SUCH ACT COVERING SUCH  SECURITIES,  THE
         SALE IS MADE IN  ACCORDANCE  WITH RULE 144, OR THE COMPANY  RECEIVES AN
         OPINION  OF  COUNSEL  FOR THE  HOLDER OF THESE  SECURITIES,  REASONABLY
         SATISFACTORY  TO  THE  COMPANY,   STATING  THAT  SUCH  SALE,  TRANSFER,
         ASSIGNMENT  OR  HYPOTHECATION  IS  EXEMPT  FROM  THE  REGISTRATION  AND
         PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

         8. RESERVATION AND ISSUANCE OF STOCK; PAYMENT OF TAXES.

                  (a) The  Company  covenants  that  during  the term  that this
Option is exercisable, the Company will reserve from its authorized and unissued
Common  Stock a  sufficient  number of shares to provide for the issuance of the
Shares  upon the  exercise of this  Option,  and from time to time will take all
steps necessary to amend its Certificate of Incorporation to provide  sufficient
reserves of shares of Common Stock issuable upon the exercise of the Option.

                  (b) The Company  further  covenants  that all shares of Common
Stock  issuable upon the due exercise of this Option will be free and clear from
all taxes or liens,  charges and security  interests created by the Company with
respect to the issuance thereof,  however, the Company shall not be obligated or
liable for the  payment of any taxes,  liens or charges of Holder,  or any other
party  contemplated  by Section 7, incurred in  connection  with the issuance of
this  Option or the  Common  Stock upon the due  exercise  of this  Option.  The
Company agrees that its issuance of this Option shall  constitute full authority
to its officers who are charged with the duty of executing stock certificates to
execute and issue the necessary certificates for the shares of Common Stock upon
the exercise of this Option.  The Common Stock issuable upon the due exercise of
this Option,  will, upon issuance in accordance  with the terms hereof,  be duly
authorized, validly issued, fully paid and non-assessable.

                  (c) Upon  exercise of the Option,  the Company  shall have the
right to require  the Holder to remit to the  Company  an amount  sufficient  to
satisfy  federal,  state  and local tax  withholding  requirements  prior to the
delivery of any certificate for Shares of Common Stock purchased pursuant to the
Option, if in the opinion of counsel to the Company such withholding is required
under applicable tax laws.

                                       5

<PAGE>

                  (d) If  Holder  is  obligated  to pay the  Company  an  amount
required to be withheld under  applicable tax withholding  requirements  may pay
such amount (i) in cash; (ii) in the discretion of the Board of Directors of the
Company,  through  the  delivery to the  Company of  previously-owned  shares of
Common Stock having an aggregate  Fair Market Value equal to the tax  obligation
provided  that the  previously  owned shares  delivered in  satisfaction  of the
withholding  obligations  must have been held by the Holder for at least six (6)
months;  (iii) in the  discretion  of the  Board of  Directors  of the  Company,
through the  withholding  of Shares of Common  Stock  otherwise  issuable to the
Holder in connection with the Option exercise;  or (iv) in the discretion of the
Board of Directors of the Company,  through a combination  of the procedures set
forth in subsections (i), (ii) and (iii) of this Section 8(d).

         9.       NOTICES.

                  (a)  Whenever   the   Exercise   Price  or  number  of  shares
purchasable  hereunder  shall be  adjusted  pursuant  to Section 11 hereof,  the
Company shall issue a certificate  signed by its Chief Financial Officer setting
forth, in reasonable detail,  the event requiring the adjustment,  the amount of
the  adjustment,  the method by which such  adjustment was  calculated,  and the
Exercise Price and number of shares purchasable hereunder after giving effect to
such  adjustment,  and shall cause a copy of such  certificate  to be mailed (by
first-class mail, postage prepaid) to the Holder of this Option.

                  (b) All notices,  advices and communications under this Option
shall be deemed to have been given, (i) in the case of personal delivery, on the
date of such delivery and (ii) in the case of mailing, on the third business day
following the date of such mailing, addressed as follows:

                           If to the Company:

                           Continental Southern Resources, Inc.
                           111 Presidential Boulevard
                           Suite 158A
                           Bala Cynwyd, PA 19004

                           With a copy to:

                           Spector Gadon & Rosen, PC
                           1635 Market Street, 7th Floor
                           Philadelphia, Pa. 19103
                           Attn.:  Vincent A. Vietti, Esquire

                           and to the Holder:

                           Joseph M. Fioravanti
                           271 North Monroe
                           Media, PA 19063

         Either of the  Company or the  Holder may from time to time  change the
address  to  which  notices  to it are  to be  mailed  hereunder  by  notice  in
accordance with the provisions of this Paragraph 9.

<PAGE>

         10.      AMENDMENTS.

                  (a) Any term of this  Option may be amended  with the  written
consent of the Company and the Holder. Any amendment effected in accordance with
this  Section 10 shall be binding  upon the Holder,  each future  holder and the
Company.

                  (b) No waivers of, or  exceptions  to, any term,  condition or
provision of this Option,  in any one or more instances,  shall be deemed to be,
or construed as, a further or continuing  waiver of any such term,  condition or
provision.

     11. ADJUSTMENTS. The number of Shares of Common Stock purchasable hereunder
and the  Exercise  Price is  subject  to  adjustment  from time to time upon the
occurrence of certain events, as follows:

                  11.1. REORGANIZATION, MERGER OR SALE OF ASSETS. If at any time
while this Option,  or any portion  thereof,  is outstanding and unexpired there
shall  be (i) a  reorganization  (other  than a  combination,  reclassification,
exchange or  subdivision  of shares  otherwise  provided for herein);  or (ii) a
merger or  consolidation  of the  Company in which the  shares of the  Company's
capital  stock  outstanding  immediately  prior to the merger are  converted  by
virtue of the merger  into other  property,  whether in the form of  securities,
cash  or  otherwise,  then,  as  a  part  of  such  reorganization,  merger,  or
consolidation,  lawful provision shall be made so that the holder of this Option
shall upon such  reorganization,  merger,  or  consolidation,  have the right by
exercising  such  Option,  to  purchase  the kind and number of shares of Common
Stock or other securities or property (including cash) otherwise receivable upon
such reorganization, merger or consolidation by a holder of the number of shares
of Common  Stock that might have been  purchased  upon  exercise  of such Option
immediately prior to such reorganization, merger or consolidation. The foregoing
provisions   of  this  Section  11.1  shall   similarly   apply  to   successive
reorganizations,  consolidations  or  mergers.  If the  per-share  consideration
payable to the Holder hereof for shares in connection with any such  transaction
is in a form other than cash or  marketable  securities,  then the value of such
consideration  shall  be  determined  in good  faith by the  Company's  Board of
Directors. In all events, appropriate adjustment (as determined in good faith by
the  Company's  Board  of  Directors)  shall be made in the  application  of the
provisions of this Option with respect to the rights and interests of the Holder
after the  transaction,  to the end that the  provisions of this Option shall be
applicable  after that event,  as near as reasonably  may be, in relation to any
shares or other  property  deliverable  after that event upon  exercise  of this
Option.

                                       7
<PAGE>

                  11.2. RECLASSIFICATION. If the Company, at any time while this
Option,  or  any  portion  thereof,   remains  outstanding  and  unexpired,   by
reclassification of securities or otherwise,  shall change any of the securities
as to which purchase rights under this Option exist into the same or a different
number of securities of any other class or classes, this Option shall thereafter
represent  the right to acquire such number and kind of securities as would have
been issuable as the result of such change with respect to the  securities  that
were subject to the purchase rights under this Option  immediately prior to such
reclassification  or other  change  and the  Exercise  Price  therefor  shall be
appropriately  adjusted,  all subject to further  adjustment as provided in this
Section 11.

                  11.3.  SPLIT,  SUBDIVISION OR  COMBINATION  OF SHARES.  If the
Company  at any  time  while  this  Option,  or  any  portion  thereof,  remains
outstanding and unexpired shall split, subdivide or combine the securities as to
which  purchase  rights  under this Option  exist,  into a  different  number of
securities  of the same  class,  the  Exercise  Price  and the  number of shares
issuable upon exercise of this Option shall be proportionately adjusted.

                  11.4.  ADJUSTMENTS FOR DIVIDENDS IN STOCK OR OTHER  SECURITIES
OR PROPERTY.  If while this Option, or any portion hereof,  remains  outstanding
and unexpired the holders of the  securities as to which  purchase  rights under
this Option  exist at the time shall have  received,  or, on or after the record
date fixed for the  determination  of eligible  Stockholders,  shall have become
entitled to receive,  without  payment  therefor,  other or additional  stock or
other  securities  or  property  (other  than  cash)  of the  Company  by way of
dividend,  then and in each  case,  this  Option  shall  represent  the right to
acquire,  in addition to the number of shares of the  security  receivable  upon
exercise of this Option,  and without  payment of any  additional  consideration
therefor,  the amount of such other or additional  stock or other  securities or
property  (other  than cash) of the Company  that such holder  would hold on the
date  of  such  exercise  had it been  the  holder  of  record  of the  security
receivable  upon exercise of this Option on the date hereof and had  thereafter,
during  the  period  from  the date  hereof  to and  including  the date of such
exercise,  retained  such  shares  and/or  all  other  additional  stock,  other
securities or property available by this Option as aforesaid during such period.

                  11.5  GOOD  FAITH.  The  Company  will not,  by any  voluntary
action, avoid or seek to avoid the observance or performance of any of the terms
to be observed or performed  hereunder by the Company,  but will at all times in
good faith assist in the carrying out of all the  provisions  of this Section 11
and in the taking of all such action as may be necessary or appropriate in order
to protect the rights of the Holder of this Option against impairment.

     12.   FUNDAMENTAL   TRANSACTION.   For  purposes  of  this  Section  12,  a
"Fundamental  Transaction"  shall mean (i) the dissolution or liquidation of the
Company; (ii) a merger,  reorganization or consolidation in which the Company is
acquired by another person or entity (other than a holding company formed by the
Company);  (iii)  the  sale of all or  substantially  all of the  assets  of the
Company to any person or persons;  or (iv) the sale in a single transaction or a
series of related  transactions  of voting  stock  representing  more than fifty
percent  (50%) of the voting power of all  outstanding  shares of the Company to
any person or persons. In the event of a Fundamental  Transaction,  Holder shall
be given at least 15 days prior written notice of a Fundamental  Transaction and
shall be permitted  to exercise  this Option  during this 15 day

                                       8

<PAGE>

period. In the event of a Fundamental Transaction, any Options which are neither
assumed or substituted for in connection  with the  Fundamental  Transaction nor
exercised as of the date of the  Fundamental  Transaction,  shall  terminate and
cease to be outstanding effective as of the date of the Fundamental Transaction,
unless otherwise provided by the Board of Directors of the Company.

     13. SEVERABILITY. Whenever possible, each provision of this Option shall be
interpreted  in such manner as to be effective and valid under  applicable  law,
but  if any  provision  of  this  Option  is  held  to be  invalid,  illegal  or
unenforceable   in  any  respect  under  any  applicable  law  or  rule  in  any
jurisdiction,  such invalidity,  illegality or unenforceability shall not affect
the validity,  legality or  enforceability of any other provision of this Option
in such  jurisdiction or affect the validity,  legality or enforceability of any
provision  in any  other  jurisdiction,  but  this  Option  shall  be  reformed,
construed  and  enforced in such  jurisdiction  as if such  invalid,  illegal or
unenforceable provision had never been contained herein.

     14.  GOVERNING  LAW. The  corporate law of the State of Nevada shall govern
all issues and questions  concerning the relative  rights of the Company and its
stockholders.  All  other  questions  concerning  the  construction,   validity,
interpretation  and enforceability of this Option and the exhibits and schedules
hereto shall be governed by, and construed in accordance  with,  the laws of the
State of Pennsylvania, without giving effect to any choice of law or conflict of
law  rules or  provisions  (whether  of the State of  Pennsylvania  or any other
jurisdiction)  that would cause the application of the laws of any  jurisdiction
other than the State of Pennsylvania.

     15.  JURISDICTION.  The Holder and the Company  agree to submit to personal
jurisdiction  and to waive any  objection  as to venue in the  federal  or state
courts of  Pennsylvania.  Service of process on the Company or the Holder in any
action arising out of or relating to this Option shall be effective if mailed to
such party at the address listed in Section 9 hereof.

     16.  ARBITRATION.  If a dispute arises as to interpretation of this Option,
it shall be decided  finally by three  arbitrators in an arbitration  proceeding
conforming to the Rules of the American  Arbitration  Association  applicable to
commercial  arbitration.  The arbitrators shall be appointed as follows:  one by
the Company, one by the Holder and the third by the said two arbitrators, or, if
they cannot agree,  then the third arbitrator shall be appointed by the American
Arbitration Association. The third arbitrator shall be chairman of the panel and
shall be  impartial.  The  decision  of a majority of the  arbitrators  shall be
conclusively  binding  upon the parties and final,  and such  decision  shall be
enforceable  as a judgment in any court of  competent  jurisdiction.  Each party
shall pay the fees and expenses of the  arbitrator  appointed by it, its counsel
and its witnesses.  The parties shall share equally the fees and expenses of the
impartial arbitrator.

     17. CORPORATE POWER; AUTHORIZATION; ENFORCEABLE OBLIGATIONS. The execution,
delivery  and  performance  by the  Company of this  Option:  (i) are within the
Company's  corporate  power;  (ii) have been duly authorized by all necessary or
proper  corporate  action;  (iii)  are  not in  contravention  of the  Company's
certificate of  incorporation  or bylaws;  (iv) will not violate in any material
respect,  any  law or  regulation,  including  any  and all  Federal  and  state
securities   laws,  or  any  order  or  decree  of  any  court  or  governmental
instrumentality;  and (v) will not, in any material

                                       9

<PAGE>

respect,  conflict with or result in the breach or termination of, or constitute
a default under any agreement or other material  instrument to which the Company
is a party or by which the Company is bound.

     18.  SUCCESSORS AND ASSIGNS.  This Option shall inure to the benefit of and
be binding on the respective  successors,  assigns and legal  representatives of
the Holder and the Company.

         IN WITNESS  WHEREOF,  the Company has caused this Option to be executed
on this 4th day of August, 2003.

                                      CONTINENTAL SOUTHERN RESOURCES, INC.

                                      By: /s/ STEPHEN P. HARRINGTON
                                      ------------------------------------
                                               Stephen P. Harrington
                                                        President

                                       10

<PAGE>

                               NOTICE OF EXERCISE

TO:  [_____________________________]

         (1) The undersigned  hereby elects to purchase _______ shares of Common
Stock of  CONTINENTAL  SOUTHERN  RESOURCES,  INC.  pursuant  to the terms of the
attached  Option,  and tenders  herewith  payment of the purchase price for such
shares  in full in the  following  manner  (please  check  one of the  following
choices):

           [ ]     In Cash

           [ ]     Cashless exercise through a broker; or

           [ ]     Delivery of previously owned Shares.

         (2) In exercising  this Option,  the  undersigned  hereby  confirms and
acknowledges  that the  shares of  Common  Stock to be  issued  upon  conversion
thereof are being acquired  solely for the account of the undersigned and not as
a nominee  for any other  party,  and for  investment  (unless  such  shares are
subject to resale pursuant to an effective prospectus), and that the undersigned
will not offer,  sell or  otherwise  dispose of any such shares of Common  Stock
except under circumstances that will not result in a violation of the Securities
Act of 1933, as amended, or any state securities laws.

         (3) Please issue a certificate or certificates representing said shares
of Common Stock in the name of the undersigned.

                                             JOSEPH M. FIORAVANTI

--------------------------                   -----------------------------
(Date)                                       (Signature)

                                       11

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