Document:

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                                                                    EXHIBIT 10.2

                            INDEMNIFICATION AGREEMENT

     THIS INDEMNIFICATION AGREEMENT (this "Agreement"), is between Diversified
Corporate Resources, Inc., a Texas corporation (the "Company") and Mark E. Cline
(the "Indemnitee").

                              W I T N E S S E T H:
                              - - - - - - - - - -

     WHEREAS, the Indemnitee is an officer and/or director of the Company; and

     WHEREAS, the Company is a party to certain litigation proceedings (the
"Lawsuit") which (a) involves Donald R. Ditto, Sr. and Ditto Properties Company
(collectively referred to herein as "Ditto"), the Company and others, and (b) is
pending before the 290th Judicial District Court of Dallas County, Texas (Cause
No. 97-02079-M); and

     WHEREAS, the Board of Directors of the Company have determined that it is
in the best interests of the Company to indemnify the officers and directors of
the Company in connection with the Lawsuit and related matters; and

     WHEREAS, the purpose of this Agreement is to document the Company's
commitment to indemnify the Indemnitee to the fullest extent permitted by law;
and

     WHEREAS, the Company is willing to indemnify Indemnitee in order to retain
the services of Indemnitee.

     NOW, THEREFORE, for and in consideration of the mutual premises and
covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and
Indemnitee hereby agree as follows:

1.   Certain Definitions.

         (a) Claim: any threatened, pending, or completed action, suit, or
proceeding or any inquiry or investigation (including discovery), whether
conducted by the Company or any other party, directly or indirectly related to
the Lawsuit, the fact and matters involved in the Lawsuit, and the actions and
inaction's of the Company and/or the Board of Directors of the Company in
connection with or related to the manner in which the Company (i) has pursued
its claims for damages against Ditto, and Ditto's claims, if any, for damages
against the Company, and (ii) has funded the payment of legal fees, expenses,
interest and bank debt payments by J. Michael Moore ("Moore") and DCRI LP NO 2,
Inc., a Texas corporation, directly or indirectly related to the Lawsuit and
other disputes involving Moore and Ditto.

         (b) Expenses: all costs, expenses (including attorneys' and expert
witnesses' fees), judgments, fines, penalties, amounts paid in settlement and
obligations (including all interest, assessments, and other charges paid or
payable in connection with or in respect of such expenses, judgments, fines,
penalties, or amounts paid in settlement) paid or incurred in connection with
investigating, defending (including affirmative defenses and counterclaims),
settling, being a witness in, or participating in (including on appeal), or
preparing to defend, be a witness in, or participate in, any Claim relating to
any lndenmifiable Event.

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         (c) Indemnifiable Event: any event or occurrence related to, or arising
out of, the fact that Indemnitee is or was a director, officer, employee,
trustee, or agent of the Company, or is or was serving at the request of the
Company as a director, officer, employee, trustee, or agent of mother
corporation, partnership, joint venture, employee benefit plan, trust, or other
enterprise, or by reason of any thing done or not done by Indemnitee in any such
capacity.

2.   Basic Indemnification and Expense Reimbursement Arrangement.

         (a) In the event Indemnitee was, is, or becomes a party to or witness
or other participant in, or is threatened to be made a party to or witness or
other participant in, a Claim by reason of (or arising in part out of) an
Indemnifiable Event, the Company shall indemnify Indemnitee to the fullest
extent permitted by law as soon as practicable but in any event no later than
thirty (30) days after written demand is presented to the Company, against any
and all Expenses of or with respect to that Claim.

         (b) If so requested by Indemnitee, the Company shall pay any and all
Expenses incurred by Indemnitee (or, if applicable, reimburse Indemnitee for any
and all Expenses incurred by Indemnitee and previously paid by Indeminitee)
within ten days after such request (an "Expense Advance"). However, such request
must contain (i) a statement reasonably detailing the Expenses for which
advancement is requested, and (ii) an undertaking by Indemnitee, or on
Indemnitee's behalf, to repay such advancement of Expenses if it is ultimately
determined by a final judicial decision from which there is no further right to
appeal that Indemnitee is not entitled to be indemnified for such expenses under
this Agreement or otherwise. The Company shall be obligated to make or pay an
Expense Advance in advance of the final disposition or conclusion of any Claim
in accordance with this Section 2(b). Any dispute as to the reasonableness of
any Expense shall not delay an Expense Advance by the Company, and the Company
agrees that any such dispute shall be resolved only upon the disposition or
conclusion of the underlying Claim against the Indemnitee.

3.   Indemnification for Additional Expenses. The Company shall indemnify
Indemnitee against any and all costs and expenses (including attorneys' and
expert witnesses' fees), and, if requested by Indemnitee, shall (within ten (10)
business days of that request) advance or reimburse those costs and expenses to
Indemnitee, that are incurred by Indemnitee in connection with (a) the
negotiation and execution of this Agreement, which shall include, without
limitation, the review of the Company's Articles of Incorporation, Bylaws and
the directors' and officers' liability insurance policies and (b) any claim,
asserted against or action brought by Indemnitee for (i) indemnification or
advance payment of Expenses by the Company under this Agreement or any other
agreement or provision of the Company's Articles of Incorporation or Bylaws now
or hereafter in effect relating to Claims for Indemnifiable Events, or (ii)
recovery under any directors' and officers' liability insurance policies
maintained by the Company; provided, however, that Indemnitee shall repay such
advancement of costs and expenses if it is ultimately determined by a final
judicial decision from which there is no further right to appeal that Indemnitee
is not entitled to be indemnified for such costs or expenses under this
Agreement or otherwise.

4.   Partial Indemnity. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of the
Expenses but not, however, for all of the total amount thereof, the Company
shall nevertheless indemnify Indemnitee for the portion thereof to which
Indemnitee is entitled. Moreover, notwithstanding any other provision of this
Agreement, to the extent that Indemnitee has been successful on the merits or
otherwise in defense of any or all claims relating in whole or in part to an
Indemnifiable Event or in defense of

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any issue or matter herein, including dismissal without prejudice, Indemnitee
shall be indemnified against all Expenses incurred in connection therewith.

5.   Contribution.

     (a) Contribution Payment. To the extent the indemnification provided for
under any provision of this Agreement is determined (in the manner hereinabove
provided) not to be permitted under applicable law, then in the event Indemnitee
was, is, or becomes a party to or witness or other participant in, or is
threatened to be made a party to or witness or other participant in, a Claim by
reason of (or arising in part out of) an Indemnifiable Event, to the extent
contribution with respect to such Indemnifiable Event is permitted under
applicable law, the Company, in lieu of indemnifying Indemnitee, shall
contribute to the amount of any and all Expenses assessed against or incurred or
paid by Indemnitee on account of or with respect to that Claim for which such
contribution is permitted ("Contribution Amounts"), in such proportion as is
appropriate to reflect the relative fault with respect to the Indemnifiable
Event giving rise to the Contribution Amounts of Indemnitee, on the one hand,
and of the Company and any and all other parties (including officers and
directors of the Company other than Indemnitee) who may be at fault with respect
to such Idemnifiable Event (collectively, such parties, including the Company,
are herein referred to as the "Third Parties") on the other hand.

     (b) Relative Fault. The relative fault of the Third Parties and the
Indemnitee shall be determined (i) by reference to the relative fault of
lndemnitee as determined by the court or other governmental agency assessing the
Contribution Amounts or (ii) to the extent such court or other governmental
agency does not apportion relative fault, by a majority of the disinterested
members of the Company's Board of Directors after giving effect to, among other
things, the relative intent, knowledge, access to information, and opportunity
to prevent or correct the applicable Indemnifiable Event and other relevant
equitable considerations of each party. The Company and Indemnitee agree that it
would not be just and equitable if contribution pursuant to this Section 5(b)
were determined by pro rata allocation or by any other method of allocation
which does take account of the equitable considerations referred to in this
Section 5(b).

6.   Presumption. Indemnitee shall be presumed to be entitled to indemnification
for any act or omission covered in this Agreement. The burden of proof of
establishing that Indemnitee is not entitled to indemnification because of the
failure to fulfill any legal requirement shall be on the Company.

7.   Non-exclusivity. The rights of lndemnitee hereunder shall be in addition to
any other rights Indemnitee may have under the Company's Bylaws or Articles of
Incorporation or the Texas Business Corporation Act ("TBCA") or otherwise. To
the extent that a change in the TBCA (whether by statute or judicial decision)
permits greater indemnification by agreement than would be afforded currently
under the Company's Bylaws or Articles of Incorporation and this Agreement, it
is the intent of the parties hereto that Indemnitee shall enjoy by this
Agreement the greater benefits so afforded by that change.

8.   Liability Insurance. Except as otherwise agreed to by the Company and
Indemnitee in a written agreement, to the extent the Company maintains an
insurance policy or policies providing directors' and officers' liability
insurance, Indemnitee shall be covered by that policy or those policies, in
accordance with its or their terms, to the maximum extent of the coverage
available for any Company director or officer.

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9.   Miscellaneous.

         (a) Notice Provision. Any notice, payment, demand or communication
required or permitted to be delivered or given by the provisions of this
Agreement shall be deemed to have been effectively delivered and received (i) if
personally delivered, upon receipt, (ii) if sent via facsimile, upon mechanical
confirmation of successful transmission thereof generated by the sending
telecopy machine only if such notice is also delivered by hand, or deposited in
the United States mail, postage prepaid, registered or certified mail, on or
before three (3) business days after its delivery by facsimile, or (iii) if sent
by registered or certified mail five (5) days after deposit thereof in the U.S.
mail and addressed to the parties at the addresses set forth above their
signatures to this Agreement.

     (b) Entire Agreemcnt. This Agreement constitutes the entire understanding
of the parties and supersedes all prior understandings, whether written or oral,
between the parties with respect to the subject matter of this Agreement.

     (c) Severability of Provisions. If any provision of this Agreement is held
to be illegal, invalid, or unenforceable under present or future laws effective
during the term of this Agreement, such provision shall be fully severable; this
Agreement shall be construed and enforced as if such illegal, invalid, or
unenforceable provision had never comprised a part of this Agreement; and the
remaining provisions of this Agreement shall remain in full force and effect and
shall not be affected by the illegal, invalid, or unenforceable provision or by
its severance from this Agreement. Furthermore, in lieu of each such illegal,
invalid, or unenforceable provision there shall be added automatically as a part
of this Agreement a provision as similar in terms to such illegal, invalid or
unenforceable provision as may be possible and be legal, valid, and enforceable.

     (d) Applicable Law. This Agreement shall be governed by and construed under
the laws of the State of Texas.

     (e) Execution in Counterparts. Th. is Agreement and any amendment may be
executed simultaneously or in two or more counterparts, each of which together
shall constitute one and the same instrument.

     (f) Cooperation and Intent. The Company shall cooperate in good faith with
Indemnitee and use its best efforts to ensure that Indemnitee is indemnified for
liabilities described herein to the fullest extent permitted by law.

     (g) Amendment. No amendment, modification or alteration of the terms of
this Agreement shall be binding unless in writing, dated subsequent to the date
of this Agreement, and executed by the parties hereto.

     (h) Binding Effect. The obligations of the Company to Indemnitee hereunder
shall survive and continue as to Indemnitee even if Indemnitee ceases to be a
director, officer employee and/or agent of the Company. Each and all of the
covenants, terms and provisions of this Agreement shall be binding upon and
inure to the benefit of the successors to the Company and to the benefit of the
estate, heirs, executors, administrators and personal representatives of
Indemnitee.

     (I) Effective Date. The provisions of this Agreement shall cover claims,
actions, suits and proceedings whether now pending or hereafter commenced and
shall be retroactive to

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cover acts or omissions or alleged acts or omissions which heretofore have taken
place. By way of example but not of limitation, this Agreement shall apply to
all liabilities, known or unknown, contingent or otherwise, that presently exist
or arise in the future, regardless whether the liabilities relate to activities
of Indemnitee and/or the Company preceding or subsequent to the date of this
Agreement.

     IN WITNESS WHEREOF, the undersigned have duly executed this Indemnification
Agreement on the ____ day of _________, 2002 but effective as of the 9th day of
July, 2002.

                                   THE COMPANY

                                   DIVERSIFIED CORPORATE RESOURCES, INC.

                                   By:
                                      ------------------------------------

                                   ---------------------------------------
                                   Name

                                   ---------------------------------------
                                   Title

                                   Address: 10670 North Central Expressway
                                            Suite 350
                                            Dallas, TX  75231

                                   THE INDEMNITEE:

                                   ----------------------------------------
                                     Mark E. Cline

                                     Address:  5104 Scarborough Lane
                                               Dallas, Texas 75287

                                        5<PAGE>

                                                                    EXHIBIT 10.1

                      SECOND AMENDMENT TO CREDIT AGREEMENT
                       BY AND BETWEEN GMX RESOURCES, INC.
                          AND LOCAL OKLAHOMA BANK, N.A.

     THIS SECOND AMENDMENT TO CREDIT AGREEMENT (the "Amendment") is executed to
be effective as of the 28th day of May, 2002 by and between GMX RESOURCES INC.,
an Oklahoma corporation, ENDEAVOR PIPELINE INC., an Oklahoma corporation, and
EXPEDITION NATURAL RESOURCES INC., an Oklahoma corporation (the "Borrowers") and
LOCAL OKLAHOMA BANK, N.A. (the "Bank").

                              W I T N E S S E T H:

     WHEREAS, effective October 31, 2000 Borrowers and Bank entered into that
certain Credit Agreement (the "Original Agreement") whereby Bank provided
Borrowers with a revolving line of credit in an amount governed by a Borrowing
Base which shall not exceed $15,000,000.00, as evidenced by reducing revolving
promissory note with a stated like amount of even date with the Original
Agreement (the "Original Note").

     WHEREAS, as of June 18, 2001, Borrowers and Bank amended the Original
Agreement for the first time (the "First Amendment") in order to permit certain
preferred stock dividends and to evidence certain other changes as set forth
therein (the Original Agreement as amended by the First Amendment is referred to
herein as the "Agreement").

     WHEREAS, the obligations described in the Agreement are secured by, among
other things not specifically set forth herein, certain oil and gas properties
and other properties as set forth in the Agreement; and

     WHEREAS, all capitalized terms not otherwise defined herein shall have
those meanings assigned to such terms in the Agreement;

     WHEREAS, Borrowers and Bank desire to amend the Agreement for the second
time in order to evidence such changes to the Agreement as more particularly set
forth herein;

     NOW THEREFORE, in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Borrowers and the Bank hereby
agree to amend the Agreement as follows:

     A.   CHANGES TO THE AGREEMENT

          1.   The definition of "Collateral" set forth at Section 1.2 of the
Agreement, Additional Defined Terms, is hereby amended and restated in its
entirety as follows:

          " "Collateral" shall mean the Oil and Gas Properties, and any other
     Property of the Borrowers wherever located and whether now owned or
     existing or hereafter acquired or arising, including, without limitation,
     products and proceeds existing in connection with any of the foregoing.

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     2.   The definition of "Oil and Gas Properties" set forth at Section
1.2 of the Agreement, Additional Defined Terms, is hereby amended and restated
in its entirety as follows:

               Oil and Gas Properties" shall mean fee, leasehold or other
          interests in or under mineral estates or oil, gas and other liquid or
          gaseous hydrocarbon leases with respect to oil and gas properties
          situated in the United States or offshore from any State of the United
          States, including, without limitation, overriding royalty and royalty
          interests, leasehold estate interests, net profits interests,
          production payment interests and mineral fee interests, and any or all
          gas plants or gas gathering systems owned by any Borrower together
          with contracts executed in connection therewith and all tenements,
          hereditaments, appurtenances and Oil and Gas Properties appertaining,
          belonging, affixed or incidental thereto.

     3.   Section 2.5 of the Agreement, Interest Rate, is hereby amended and
restated in its entirety in order to increase the rate of interest to the Base
Rate plus one percent (1%) as follows:

          Interest Rate. The outstanding unpaid principal balance of the Note
     shall bear interest at a fluctuating rate per annum equal to the Base Rate
     plus one-percent (1.0%). Upon notice from Lender to Borrowers of the
     occurrence of any Event of Default, the unpaid principal amount from time
     to time outstanding under the Note shall bear interest at a fluctuating
     rate per annum equal to the Default Rate (but not less than the Base Rate
     in effect on the date of the occurrence of the Event of Default). The
     interest rate applicable to the Note shall change as of the effective date
     of any change in the Base Rate. Interest shall be computed on the Note for
     the actual number of days elapsed on the basis of a year consisting of 360
     days.

     4.   Section 2.10 of the Agreement, Voluntary Prepayments, is hereby
amended and restated in its entirety to include a termination fee as follows:

          The Borrowers shall have the right at any time or from time to time to
     prepay without premium or penalty, all or any part of the Loan Balance
     outstanding on the Note; provided, however, until all Obligations are fully
     paid and satisfied, no unscheduled principal reduction shall excuse the
     payment as it becomes due of any payment provided for herein. All
     prepayments made pursuant to this Section shall be applied first to accrued
     and unpaid interest and then to the Loan Balance. The above
     notwithstanding, Borrowers shall also pay a fee equal to one-half of one
     percent (1/2%) of the average Loan Balance over the immediately preceding
     12 months in the event that (A) the Borrowers prepay, in whole or in part,
     the Loan Balance directly or indirectly, with the funds provided by, or
     obtained from, a lender other than Lender or other than from the sale or
     offering of any equity interest whatsoever in any Borrower or Affiliate or
     other than from the sale of Property of any Borrower permitted herein or
     (B) the Borrowers cancel or terminate this facility or if, for any reason,
     this facility ceases to exist prior to the Maturity Date.

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     5.   Section 6.2 of the Agreement, Quarterly Financial Statements, is
hereby amended and restated and re-captioned in its entirety in order to change
the reporting requirement from quarterly to monthly as follows:

          6.2  Monthly Financial Statements. Beginning with the month ending
     June 30, 2002, deliver to the Lender, (a) on or before the 45th day after
     the close of each calendar month, a copy of the unaudited Financial
     Statements of Borrowers prepared on a consolidated basis as of the last day
     of such monthly period , such Financial Statement to be certified by a
     Responsible Officer of the Borrowers as having been prepared in accordance
     with GAAP and in a manner consistent with the annual audited Financial
     Statements, consistently applied, and as a fair presentation of the
     financial condition of the Borrowers , and (b) concurrent with (a) above, a
     Compliance Certificate executed by Borrowers' Responsible Officer stating
     that such Officers, after due inquiry, has no knowledge of a Default or
     Event of Default and containing a computation of, and demonstrating
     compliance with, each financial covenant set forth in Section 7 herein.

     6.   Section 6.5 of the Agreement, Production Reports, is hereby amended
and restated and re-captioned in its entirety in order to change the reporting
requirement from quarterly to monthly as follows:

          6.5  Production Reports. Within forty-five (45) days from each
     calendar month end, furnish Lender a monthly summary report of oil and gas
     production for said period indicating the immediately preceding quarter's
     sales volume, sales revenues, production taxes, operating expenses, capital
     expenditures and net operating income from or attributable to the
     Borrowers' Oil and Gas Properties pledged to secure the Obligations
     hereunder, with detailed calculations and worksheets, and, in the case of
     take or pay or prepayment agreements during such quarter, provide copies of
     same.

     7.   A new affirmative covenant shall be added to ARTICLE IV of the
Agreement, AFFIRMATIVE COVENANTS, as Section 6.25 and shall be entitled "Trade
Payables" and shall state as follows:

          6.25 Payables. In addition to those obligations described in Section
     6.12 of this Agreement, Payment of Assessments and Charges, Borrowers shall
     pay all accounts payable for which a statutory mechanism is in place
     permitting the account holder to file a lien against the Collateral within
     90 days from the date such payable is due and owing.

     B.   REPRESENTATIONS AND WARRANTIES

     Each Borrower hereby represents and warrants to Bank that:

          1.   Each Borrower is a corporation, duly organized, legally existing,
and in good standing under the laws of the State of Oklahoma, and is duly
qualified as a foreign

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corporation and in good standing in all other states wherein the nature of its
business or its assets make such qualification necessary.

          2.   Each Borrower's execution and delivery of this Amendment and
performance of its obligations hereunder: (a) are and will be within its powers;
(b) are duly authorized by its board of directors; (c) are not and will not be
in contravention of any law, statute, rule or regulation, the terms of its
articles or incorporation and bylaws, nor of any agreement or undertaking to
which any Borrower or any of its properties are bound; (d) do not require any
consent or approval (including governmental) which has not been given; and (e)
will not result in the imposition of liens, charges or encumbrances on any of
its properties or assets, except those in favor of Bank hereunder.

          3.   This Amendment, when duly executed and delivered, will constitute
the legal, valid and binding obligations of Borrowers, enforceable in accordance
with its terms.

          4.   All financial statements, balance sheets, income statements and
other financial data which have been or are hereafter furnished to Bank by
Borrowers to induce Bank to make the loans hereunder due, and as to subsequent
financial statements will, fairly represent each Borrower's financial condition
as of the dates for which the same are furnished. All such financial statements,
reports, papers and other data furnished to Bank are and will be, when
furnished: prepared in accordance with generally accepted accounting principles
consistently applied; accurate and correct in all material respects; and
complete insofar as completeness may be necessary to give Bank a true and
accurate knowledge of the subject matter. Since the date of the last such
financial statements, no material adverse change has occurred in the operations
or condition, financial or otherwise and other financial data provided to Bank;
of any Borrower, nor, to the best of their knowledge, has any Borrower incurred,
any material liabilities or made any material investment or guarantees, direct
or contingent, in any single case or in the aggregate, which has not been
disclosed to Bank.

          5.   The Borrowers are the sole and lawful owner of the Collateral,
pledged, mortgaged or assigned by it, and Borrowers have, and as to after
acquired property or new properties will have, good right to cause the
Collateral to be hypothecated to Bank as security for the obligations described
in the Agreement, as amended hereby. Further, the ownership interests set forth
in that certain Engineering Report dated March 19, 2002 from Sproule Associates,
Inc. purported to be owned by Borrowers, or any one of them, are true and
correct and Borrowers do, in fact, own such interests in such Collateral.

          6.   The Collateral set forth on that certain Engineering Report dated
March 19, 2002 from Sproule Associates, Inc. are free and clear of all
mortgages, liens and encumbrances, except for Permitted Liens and liens in favor
of Cudd Pressure Control, Inc. and Nabors Drilling USA, LP which will be paid
with proceeds of the Loan. Further, Borrowers have no invoices for labor related
to such properties or materials provided to such properties which have not been
paid within90 days from the date such invoice is due and payable.

          7.   All of each Borrower's other representations and warranties set
forth in Section 8 of the Agreement, Representations and Warranties, are true
and correct on and as of the

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date hereof with the same effect as though made and repeated by such Borrower as
of the date hereof.

     C.   CONDITIONS

     Bank's obligations under the Agreement, as hereby amended, are subject to
the following conditions:

          1.   Bank and Borrowers shall have executed and delivered this
     Amendment.

          2.   Borrowers shall, or will from time to time, have executed such
     additional mortgages, deeds of trust, financing statement and such other
     documents as are deemed necessary by Bank in order to perfect a lien in
     favor of Bank in and to those Oil and Gas Properties necessary to achieve
     the percentages required by the covenants set forth herein.

          3.   Each Borrower's representations and warranties set forth in
     Section B hereof shall be true and correct on and as of the date hereof,
     and the date of any subsequent advance with the same effect as though such
     representation and warranty had been on and as of such date.

          4.   Borrowers shall have satisfied all conditions set forth in the
     Agreement.

          5.   As of the date hereof, and the date of any subsequent Advance, no
     Event of Default nor any event which, with the giving of notice or lapse of
     time, would constitute an Event of Default shall have occurred and be
     continuing.

          6.   Borrowers shall have provided Bank with a copy of any settlement
     with Nabors Drilling USA, L.P.

          7.   Borrowers shall have paid Bank a fee equal to one percent (1%) of
     the increase to the Borrowing Base which such amount equals $25,000. The
     parties understand and agree that this amount is in excess of the amount of
     such fee provided for in the Agreement due to the increase to the Borrowing
     Base plus the waivers contained herein.

          8.   Borrowers shall have provided to Bank and Bank shall have
     approved of the form of the releases of those liens filed by Nabors
     Drilling USA, LP and Cudd Pressure Control, Inc. against any Borrower's Oil
     and Gas Properties.

     D.   OTHER COVENANTS AND MISCELLANEOUS TERMS

          1.   This Amendment shall serve as notification to Borrowers that the
Borrowing Base shall be increased to $12,500,000.00 which such amount shall
remain in effect, subject to the Monthly Commitment Reductions, until the next
Borrowing Base Determination.

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Until June 1, 2002, the Monthly Commitment Reduction shall be $0.00. On June 1,
2002 and July 1, 2002, the Monthly Commitment Reduction shall be $172,000.00.
Beginning August 1, 2002 and continuing until the next Borrowing Base
Determination, the Monthly Commitment Reduction shall be $172,000 plus any
positive difference between $172,000.00 and 80% of the Net Cash Flow reported
for the second month preceding the first day of each month. For the purposes of
this definition, the term "Net Cash Flow" shall be defined as Net Income, as
determined by GAAP, before income taxes plus non-cash expenses (depreciation,
depletion, and amortization).

          2.   Borrowers hereby agree that notwithstanding any other purpose
permitted by the Agreement, proceeds of this $2,500,000.00 increase to the
Borrowing Base shall only be used to reduce outstanding accounts payable to
include $801,051.18 owed to Nabors Drilling USA, L.P and $324,184.63 owed to
Cudd Pressure Control, Inc.

          3.   Borrowers shall provide Bank with file stamped copies of those
releases described in that certain letter agreement by and between Nabors
Drilling USA, L.P. and GMX Resources, Inc. dated June 3, 2002 within thirty (30)
days of the date hereof; furthermore, Borrowers shall provide Bank with file
stamped copies of those releases filed by Cudd Pressure Control, Inc.

          4.   Bank hereby expressly waives, on a one-time basis, that default
created by Borrowers' failure to comply with the Adjusted Current Ratio set
forth at Section 7.1 of the Agreement for the quarterly periods ending December
31, 2001 and March 31, 2002, thereby creating a default pursuant to Section
9.1(f) of the Agreement. Further, Bank hereby expressly waives, on a one time
basis, that default created by those certain Liens filed by Nabors Drilling USA,
L.P. and Cudd Pressure Control, Inc. against certain of Borrowers' Oil and Gas
Properties in violation of the covenant set forth at Section 8.3 of the
Agreement, thereby creating a default pursuant to Section 9.1(f) of the
Agreement. It is expressly intended that these waivers are provided on a
one-time basis and are not meant to be continuing. This waiver does not waive
any default not specifically listed above nor does it waive further violations
of Sections 7.1, 8.3 or any other provision of the Agreement.

          5.   Bank hereby expressly waives, on a one-time basis that default
created by Borrowers' incurrence of additional indebtedness in violation of
Section 8.1 of the Agreement by virtue of its settlement agreement with Nabors
Drilling USA, L.P. which creates an Event of Default pursuant to Section 9.1(c).
It is expressly intended that these waivers are provided on a one-time basis and
are not meant to be continuing. This waiver does not waive any default not
specifically listed above nor does it waive further violations of Sections 7.1,
8.3 or any other provision of the Agreement.

          6.   Borrowers hereby agree to provide such additional mortgages and
title work pertaining to the Oil and Gas Properties to Bank's satisfaction
within thirty (30) days of any such request by Bank.

          7.   Except as expressly amended and supplemented hereby, the
Agreement shall remain unchanged and in full force and effect, and the same is
hereby ratified and extended.

                                       6

<PAGE>

          8.   The obligations described in the Agreement, as amended hereby,
including but not limited to the indebtedness evidenced by the Note executed in
conjunction with the Agreement, shall continue to be secured by the Collateral,
without interruption or impairment of any kind.

          9.   Borrowers agree to execute such additional mortgages, deeds of
trust and/or amendments to such documents already in place as Bank deems
necessary to adequately secure the loan at any time and from time to time
hereafter.

          10.  The Borrowers hereby agree to pay all reasonable attorney fees
and legal expenses incurred by Bank in preparation, execution and implementation
of this Amendment and any mortgages, guaranty agreements, subordination
agreements, deeds of trust, security agreements, pledge agreements or any
amendments thereto.

          11.  This Amendment shall be construed in accordance with and governed
by the laws of the State of Oklahoma, and shall be binding on and inure to the
benefit of the Borrower and Bank, and their respective successors and assigns.
All obligations of the Borrowers under the Agreement and all rights of Bank and
any other holder of the Note, whether expressed herein or in any Note, shall be
in addition to and not in limitation of those provided by applicable law.
Borrowers irrevocably agree that, subject to Bank's sole election, all suits or
proceedings arising from or related to the Agreement, as amended, or the Note
may be litigated in courts (whether State or Federal) sitting in Oklahoma City,
Oklahoma, and the Borrowers hereby irrevocably waives any objection to such
jurisdiction and venue.

          12.  This Amendment may be executed in as many counterparts as are
deemed necessary or convenient, and it shall not be necessary for the signature
of more than any one party to appear on any single counterpart. Each counterpart
shall be deemed an original, but all shall be construed together as one and the
same instrument. The failure of any party to sign shall not affect or limit the
liability of any party executing any such counterpart.

                                        BORROWERS:

                                        GMX RESOURCES INC.,
                                        an Oklahoma corporation

                                        /s/ Ken L. Kenworthy, Sr.
                                        ----------------------------------------
                                        By:   Ken L. Kenworthy, Sr.
                                        Title: Chief Financial Officer

                                       7

<PAGE>

                                        ENDEAVOR PIPELINE INC.,
                                        an Oklahoma corporation

                                         /s/ Ken L. Kenworthy, Sr.
                                        ----------------------------------------
                                        By:   Ken L. Kenworthy, Sr.
                                        Title: Chief Financial Officer

                                       8

<PAGE>

                                       EXPEDITION NATURAL RESOURCES INC.,
                                       an Oklahoma corporation

                                        /s/ Ken L. Kenworthy, Sr.
                                       -----------------------------------------
                                       By:    Ken L. Kenworthy, Sr.
                                       Title: Chief Financial Officer

                                       9

<PAGE>

                                       BANK:

                                       LOCAL OKLAHOMA BANK, N.A.

                                        /s/ John K. Slay, Jr.
                                       -----------------------------------------
                                       By:    John K. Slay, Jr.
                                       Title: Senior Vice President

                                       10

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