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                                                                   EXHIBIT 10.23

                           BENTON OIL AND GAS COMPANY
                              EMPLOYMENT AGREEMENT
                                       FOR
                              ROBERT STEPHEN MOLINA

      This Employment Agreement (the "Agreement") is entered into as of December
____, 2000 by BENTON OIL AND GAS COMPANY, a Delaware corporation ("Company") and
ROBERT STEPHEN MOLINA ("Employee"), a resident of Texas, whose address is 6969
Aspen Creek Lane, Dallas, Texas 75252.

      In consideration of the promises below, the parties agree as follows.

      1.    Title. Employee shall hold the title of Vice President and General
            Counsel.

      2.    Duties.

            2.1 General Duties. Employee shall undertake and render services as
may from time to time be assigned to him by the Chief Executive Officer. The
duties shall be reasonably consistent with Employee's experiences.

            2.2 Outside Activities. Employee shall devote his full time to the
performance of his duties, and agrees that his first duty of loyalty is to
Company. Except with the express written consent of the Board of Directors,
Employee shall not, directly or indirectly, alone or as a member of any
partnership, or as an officer, director or employee of any other corporation,
partnership or other organization, be actively engaged in any other duties or
pursuits which interfere or compete with the performance of his duties under
this Agreement.

      3. Term. This Agreement shall commence on January 1, 2001 and continue in
force until December 31, 2002 (the "Employment Period") unless sooner terminated
by either party pursuant to Section 5.

      4. Compensation. As payment in full for services rendered to Company,
Employee shall be entitled to receive from Company, and Company shall pay to
Employee, salary and benefits as follows.

            4.1 Salary. Company shall initially pay to Employee base salary at a
rate of $200,000 per annum ("Base Salary") payable bi-weekly or at such other
time or times as Company may allow or provide to other similarly situated
employees in accordance with policies adopted from time to time by the Board of
Directors. Base Salary for any partial period of employment shall be prorated.
All compensation shall be subject to deductions and/or Federal and State
withholding for taxes if applicable.

            4.2 Annual Incentive Compensation. Employee shall be entitled to an
annual bonus (the "Annual Bonus") as determined by the Compensation Committee of
the Company's Board of Directors (the "Compensation Committee").

            4.3 Equity Compensation. As of the Commencement Date, the Company
shall issue stock options (the "Options") to purchase shares of the Company's
common stock under

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the Company's Stock Option Plan. The initial grant shall be Options to purchase
115,000 shares of the Company's stock subject to the Company's three (3) year
vesting schedule.

            4.4 Fringe Benefits. Employee shall be entitled to annual vacation
of four (4) weeks per year and to receive employee and fringe benefits including
but not limited to any compensation plan such as an incentive stock option,
restricted stock or stock purchase plan or any employee benefit plan such as a
thrift, pension, profit sharing, medical disability, accident, plan program or
policy (the Company's "Plans") as Company may allow or provide to other
similarly situated employees in accordance with policies adopted from time to
time by the Board of Directors.

            4.5 Expenses Reimbursement. Employee shall be reimbursed for all
direct, out-of-pocket business expenses incurred by him in connection with his
employment (including, without limitation, expenses for travel and entertainment
incurred in conducting or promoting business for the Company), upon timely
submission by the Employee of receipts and other documentation, and in
accordance with the normal expense reimbursement policy of the Company.

            4.6 Sickness and Disability. Except as set forth in Section 5.2,
Employee shall receive full compensation for any period of illness or incapacity
during the term of this Agreement.

            4.7 Holidays. Employee shall be entitled to holidays recognized as
State and/or National holidays and as Company may allow or provide in accordance
with policies adopted from time to time by the Board of Directors.

      5. Termination of Employment. The following provisions shall apply in the
event of termination of Employee's employment for any reason.

            5.1 Right to Terminate by Company. Company may terminate Employee's
Agreement, by action of its Board of Directors, immediately upon written notice
of termination for Cause or upon thirty (30) days notice for any other reason.
The term "Cause" when referring to termination by Company means only the
following and any other termination shall be without Cause: (i) any act of
personal dishonesty taken by the Employee in connection with his
responsibilities as an Employee which is intended to result in substantial
personal enrichment to the Employee; (ii) Employee's conviction of a felony
which the Board responsibly believes has had or will have a material detrimental
effect on the Company's reputation or business; (iii) a willful act by the
Employee which constitutes misconduct and is injurious to the Company; and (iv)
continued willful violations by the Employee of the Employee's obligations to
the Company after there has been delivered to Employee a written demand for
performance from the Company which describes the basis for the Company's belief
that the Employee has not substantially performed his duties.

            5.2 Termination for Death or Disability. Employee's employment shall
terminate upon the earliest of the events specified below:

      (i) the death of Employee;

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            (ii) the date of termination specified in a written notice of
termination by reason of physical or mental condition of Employee which shall
substantially incapacitate him from performing his principal duties delivered by
the Company to Employee at least 30 days prior to the date specified in the
notice, which shall be any date after the expiration of any 120 consecutive days
during which Employee shall be unable, by reason of his disability, to perform
his principal duties, provided however, that such notice shall be null and void
if Employee fully resumes the performance of his duties under this Agreement
prior to the date of termination set forth in the notice.

            5.3 Termination by Employee. If an Involuntary Termination has
occurred, Employee shall be entitled to terminate his employment and to receive
compensation equal to such compensation provided in Section 6.3. If Employee
terminates his employment for any reason other than death, disability or
Involuntary Termination, then Employee shall provide the Company with thirty
(30) days prior notice and Employee shall be paid his compensation until the
effective date of termination.

      6. Change of Control and Involuntary Termination.

            6.1 Definition of Terms. The following terms referred to in this
Agreement shall have the following meanings:

            (i) Change of Control. "Change of Control" shall mean the occurrence
of any of the following events:

                  (a) the approval by shareholders of the Company of a merger or
      consolidation of the Company with any other corporation, other than a
      merger or consolidation which would result in the voting securities of the
      Company outstanding immediately prior thereto continuing to represent
      (either by remaining outstanding or by being converted into voting
      securities of the surviving entity) more than fifty percent (50%) of the
      total voting power represented by the voting securities of the Company or
      such surviving entity outstanding immediately after such merger or
      consolidation;

                  (b) any approval by the shareholders of the Company of a plan
      of complete liquidation of the Company or an agreement for the sale or
      disposition by the Company of all or substantially all of the Company's
      assets;

                  (c) any "person" (as such term is used in Sections 13(d) and
      14(d) of the Securities Exchange Act of 1934, as amended) becoming the
      "beneficial owner" (as defined in Rule 13d-3 under said Act), directly or
      indirectly, of securities of the Company representing 25% or more of the
      total voting power represented by the Company's then outstanding voting
      securities; or

                  (d) a change in the composition of the Board, as a result of
      which fewer than a majority of the directors are Incumbent Directors.
      "Incumbent Directors" shall mean directors who either (A) are directors of
      the Company as of the date hereof, or (B) are elected, or nominated for
      election, to the Board with the affirmative votes of at least a majority
      of those directors whose election or nomination was not in connection

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      with any transaction described in subsections (a), (b) or (c) or in
      connection with an actual or threatened proxy contest relating to the
      election of directors of the Company.

            (ii) Involuntary Termination. "Involuntary Termination" shall mean
(a) without the Employee's express written consent, a significant reduction of
the Employee's duties, position or responsibilities relative to the Employee's
duties, position or responsibilities in effect immediately prior to such
reduction, or the removal of the Employee from such position, duties and
responsibilities, unless the Employee is provided with comparable duties,
position and responsibilities; (b) without the Employee's express written
consent, a substantial reduction, without good business reasons, of the
facilities and perquisites (including office space and location) available to
the Employee immediately prior to such reduction; (c) a reduction by the Company
of the Employee's Base Salary as in effect immediately prior to such reduction;
(d) a material reduction by the Company in the kind or level of employee
benefits to which the Employee is entitled immediately prior to such reduction
with the result that the Employee's overall benefits package is significantly
reduced; (e) without the Employee's express written consent, the relocation of
the Employee to a facility or a location more than fifty (50) miles from the
location of the Company's principal office; (f) any purported termination of the
Employee by the Company which is not effected for Cause; or (g) the failure of
the Company to obtain the assumption of this Agreement by any successors
contemplated in Section 7(i).

            6.2 Payments Upon Termination.

            (i) Severance Payments. If the Employee's employment with the
Company terminates as a result of an Involuntary Termination at any time after a
Change of Control, then the Employee shall be entitled to receive a lump sum
payment equal to one (1) times Employee's annual Base Salary at the rate in
effect just prior to the date of the notice of termination. Such amount shall be
in addition to any amounts due under this agreement.

            Such severance payments shall be paid in a single lump sum within
thirty (30) days of such termination. In addition, the Company shall continue to
make available to the Employee and Employee's spouse and dependents covered
under any group health plans or life insurance plans of the Company on the date
of such termination of employment, all group health, life and other similar
insurance plans in which Employee or such covered dependents participate on the
date of the Employee's termination for a period of twelve (12) months on the
same basis as provided on the date of termination.

            (ii) Option Acceleration. If the Employee's employment with the
Company terminates as a result of an Involuntary Termination, then the vesting
and exercisability of each option granted to the Employee by the Company (the
"Options") shall be automatically accelerated in full.

            6.3 Payments on Other Termination. If the Employee's employment with
the Company terminates as a result of an Involuntary Termination, other than as
a result of an Involuntary Termination after a Change of Control, or termination
by the Company without Cause, then the Employee shall not be entitled to receive
severance or other benefits hereunder, other than payments through the end of
this Agreement, or for one year, whichever is longer. If

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termination is for Cause, Employee shall be paid his Base Salary to the date of
the notice of termination.

            6.4 Accrued Wages and Vacation; Expenses. Without regard to the
reason for, or the timing of, Employee's termination of employment: (a) the
Company shall pay the Employee any unpaid base salary due for periods prior to
the date of termination; (b) the Company shall pay the Employee all of the
Employee's accrued and unused vacation through the date of termination; and (c)
following submission of proper expense reports by the Employee, the Company
shall reimburse the Employee for all expenses reasonably and necessarily
incurred by the Employee in connection with the business of the Company prior to
the date of termination. These payments shall be made promptly upon termination
and with the period of time mandated by law.

      7. Successors.

            (i) Company's Successors. Any successor to the Company (whether
direct or indirect and whether by purchase, lease, merger, consolidation,
liquidation or otherwise) to all or substantially all of the Company's business
and/or assets shall assume the Company's obligations under this Agreement and
agree expressly to perform the Company's obligations under this Agreement in the
same manner and to the same extent as the Company would be required to perform
such obligations in the absence of a succession. For all purposes under this
Agreement, the term "Company" shall include any successor to the Company's
business and/or assets which executes and delivers the assumption agreement
described in this section or which becomes bound by the terms of this Agreement
by operation of law.

            (ii) Employee's Successors. Without the written consent of the
Company, Employee shall not assign or transfer this Agreement or any right or
obligation under this Agreement to any other person or entity. Notwithstanding
the foregoing, the terms of this Agreement and all rights of Employee hereunder
shall inure to the benefit of, and be enforceable by, Employee's personal or
legal representatives, executors, administrators, successors, heirs,
distnbutees, devisees and legatees.

      8. Notices.

            (i) General. Notices and all other communications contemplated by
this Agreement shall be in writing and shall be deemed to have been duly given
when personally delivered or when mailed by U.S. registered or certified mail,
return receipt requested and postage prepaid. In the case of the Employee,
mailed notices shall be addressed to him at the home address that he most
recently communicated to the Company in writing. In the case of the Company,
mailed notices shall be addressed to its corporate headquarters, and all notices
shall be directed to the attention of its Secretary.

            (ii) Notice of Termination. Any termination by the Company for cause
or by the Employee as a result of a voluntary resignation or an Involuntary
Termination shall be communicated by a notice of termination to the other party
hereto given in accordance with this Section. Such notice shall indicate the
specific termination provision in this Agreement relied upon, shall set forth in
reasonable detail the facts and circumstances claimed to provide a basis

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for termination under the provision so indicated. The failure by the Employee to
include in the notice any fact or circumstance which contributes to a showing of
Involuntary Termination shall not waive any right of the Employee hereunder or
preclude the Employee from asserting such fact or circumstance in enforcing his
rights hereunder.

      9. Arbitration.

            (i) Any dispute or controversy arising out of, relating to, or in
connection with this Agreement, or the interpretation, validity, construction,
performance, breach, or termination thereof, shall be settled by binding
arbitration to be held in Houston, Texas, in accordance with the National Rules
for the Resolution of Employment Disputes then in effect of the American
Arbitration Association (the "Rules"). The arbitrator may grant injunctions or
other relief in such dispute or controversy. The decision of the arbitrator
shall be final, conclusive and binding on the parties to the arbitration.
Judgment may be entered on the arbitrator's decision in any court having
jurisdiction.

            (ii) The arbitrator(s) shall apply Texas law to the merits of any
dispute or claim, without reference to conflicts of law rules. The arbitration
proceedings shall be governed by federal arbitration law and by the Rules,
without reference to state arbitration law. Employee hereby consents to the
personal jurisdiction of the state and federal courts located in Texas for any
action or proceeding arising from or relating to this Agreement or relating to
any arbitration in which the parties are participants.

            (iii) EMPLOYEE HAS READ AND UNDERSTANDS THIS SECTION, WHICH
DISCUSSES ARBITRATION. EMPLOYEE UNDERSTANDS THAT SUBMITTING ANY CLAIMS ARISING
OUT OF, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT, OR THE
INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH OR TERMINATION
THEREOF TO BINDING ARBITRATION TO THE EXTENT PERMITTED BY LAW, AND THAT THIS
ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EMPLOYEE'S RIGHT TO A JURY TRIAL AND
RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO ALL ASPECTS OF THE
EMPLOYER/EMPLOYEE RELATIONSHIP, INCLUDING BUT NOT LIMITED TO, THE FOLLOWING
CLAIMS:

                  (a) ANY AND ALL CLAIMS FOR WRONGFUL DISCHARGE OF EMPLOYMENT;
BREACH OF CONTRACT, BOTH EXPRESS AND IMPLIED; BREACH OF THE COVENANT OF GOOD
FAITH AND FAIR DEALING, BOTH EXPRESS AND IMPLIED; NEGLIGENT OR INTENTIONAL
INFLICTION OF EMOTIONAL DISTRESS; NEGLIGENT OR INTENTIONAL MISREPRESENTATION;
NEGLIGENT OR INTENTIONAL INTERFERENCE WITH CONTRACT OR PROSPECTIVE ECONOMIC
ADVANTAGE; AND DEFAMATION.

                  (b) ANY AND ALL CLAIMS FOR VIOLATION OF ANY FEDERAL, STATE OR
MUNICIPAL STATUTE, INCLUDING, BUT NOT LIMITED TO, TITLE VII OF THE CIVIL RIGHTS
ACT OF 1964, THE CIVIL RIGHTS ACT OF 1991, THE AGE DISCRIMINATION IN EMPLOYMENT
ACT OF 1967, THE AMERICANS WITH DISABILITIES ACT OF 1990, THE FAIR LABOR

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      STANDARDS ACT, THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, AND LABOR
      CODE SECTION 201, ET SEQ.

                  (c) ANY AND ALL CLAIMS ARISING OUT OF ANY OTHER LAWS AND
      REGULATIONS RELATING TO EMPLOYMENT OR EMPLOYMENT DISCRIMINATION.

      10. Miscellaneous Provisions.

            (i) No Duty to Mitigate. The Employee shall not be required to
mitigate the amount of any payment contemplated by this Agreement, nor shall any
such payment be reduced by any earnings that the Employee may receive from any
other source.

            (ii) Waiver. No provision of this Agreement may be modified, waived
or discharged unless the modification, waiver or discharge is agreed to in
writing and signed by the Employee and by an authorized officer of the Company
(other than the Employee). No waiver by either party of any breach of, or of
compliance with, any condition or provision of this Agreement by the other party
shall be considered a waiver of any other condition or provision or of the same
condition or provision at another time.

            (iii) Integration. This Agreement and the stock option agreements
representing the Options represent the entire agreement and understanding
between the parties as to the subject matter herein and supersede all prior or
contemporaneous agreements, whether written or oral.

            (iv) Choice of Law. The validity, interpretation, construction and
performance of this Agreement shall be governed by the internal substantive
laws, but not the conflicts of law rules, of the State of Texas.

            (v) Severability. The invalidity or unenforceability of any
provision or provisions of this Agreement shall not affect the validity or
enforceability of any other provision hereof, which shall remain in full force
and effect.

            (vi) Employment Taxes. All payments made pursuant to this Agreement
shall be subject to withholding of applicable income and employment taxes.

            (vii) Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together will
constitute one and the same instrument.

            (viii) California Expenses. Company shall furnish Employee with
Company-paid living accommodations (condo, apartment, or other rental property)
for employee's and his family's use when Employee is working from the
Carpinteria, California offices. No such accommodation shall be afforded
Employee when he is working from Texas. The type and quality of the
accommodations shall be at the discretion of the Chief Executive Officer.

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      IN WITNESS WHEREOF, each of the parties has executed this Agreement, in
the case of the Company by its duly authorized officer, as of the day and year
first above written.

COMPANY:                               BENTON OIL AND GAS COMPANY

                                       By:    /s/ Peter J. Hill
                                          -------------------------------------
                                           Peter J. Hill
                                           Chief Executive Officer

EMPLOYEE:                                    /s/ Robert Stephen Molina
                                       ----------------------------------------
                                       ROBERT STEPHEN MOLINA<PAGE>

                                                                   EXHIBIT 10.24
                              EMPLOYMENT AGREEMENT

      This Employment Agreement, effective November 12, 2001 is between Benton
Oil and Gas Company, (15835 Park Ten Place Drive, Suite 115, Houston, Texas
77084) (hereinafter sometimes called the "Company") and Kurt A. Nelson, a
resident of Texas, United States of America, whose residence is 14130 Cardinal
Lane, Houston, Texas 77079-6838 (SS No. ###-##-####) ("Employee"), the terms and
conditions of which are as follows:

SECTION 1. TERM OF EMPLOYMENT.

Subject to the terms and conditions set forth in this Employment Agreement, the
Company agrees to employ Employee and Employee agrees to be employed by the
Company for the term which starts on November 12, 2001 and ends on November 11,
2002, which term shall be referred to in this Employment Agreement as the
"Term."

SECTION 2. POSITION, DUTIES AND GEOGRAPHIC AREA.

      (a)   Position. Subject to election by the Company's Board of Directors,
            Employee's position at the beginning of the Term shall be Vice
            President - Controller of Benton Oil and Gas Company.

      (b)   Duties and Responsibilities. Employee's duties and responsibilities
            initially shall be those normally associated with Employee's
            position, plus any additional duties and responsibilities the
            Company initially may assign orally or in writing to Employee.
            Employee shall undertake to perform all Employee's duties and
            responsibilities for the Company and its affiliates in good faith
            and on a full-time basis and shall at all times act in the course of
            Employee's employment under this Employment Agreement in the best
            interest of the Company and Company's affiliates.

      (c)   The Company. The Company shall have the right to the extent the
            Company from time to time reasonably deems necessary or appropriate
            to change Employee's position or to expand or reduce Employee's
            duties and responsibilities.

SECTION 3. COMPENSATION AND BENEFITS.

      (a)   Monthly Base Salary.

            During the Term, Employee' yearly base salary shall be $135,000.00
            US, which yearly base salary shall be payable from the Company's
            Houston offices listed above to Employee at his address indicated
            above in accordance with the Company's standard payroll practices
            and policies, and shall be subject to such withholdings as required
            by U.S. Federal law and the State of Texas or as otherwise
            permissible under such practices or policies.

      (b)   Annual Bonus. Employee shall be entitled to an annual bonus
            beginning in 2002, as determined by the Human Resources Committee of
            the Company's Board of Directors

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            and the Company's Board of Directors, which bonus shall be based on
            Employee's performance contract results, the Company's overall
            performance and any special circumstances the Human Resources
            Committee and the Board deems appropriate. Any such bonus is to be
            determined at the discretion of the Company's Human Resources
            Committee and the Board of Directors.

      (c)   Employee Benefit Plans. Employee shall be eligible to participate in
            the employee benefit plans, programs and policies maintained by the
            Company for similarly situated employees in accordance with the
            terms and conditions to participate in such plans, programs, and
            policies as in effect from time to time.

      (d)   Stock Options. On November 14, 2001, Employee was granted a stock
            option to purchase 50,000 shares of the Company under the Company's
            2001 Long-Term Stock Incentive Plan at an option price set on the
            date the option is granted. Employee's right to exercise this option
            shall vest over a three (3) year period: 16,666 shares on November
            14, 2002; 16,666 shares on November 14, 2003; and 16,668 shares on
            November 14, 2004; provided, Employee is still an employee of
            Company and as otherwise set forth in the Plan and Stock Option
            Agreement, attached hereto and incorporated herein, to be executed
            between Employee and Company on the date of grant.

      (e)   Vacation - Employee shall be entitled to four (4) weeks annual
            vacation beginning in 2002.

SECTION 4. TERMINATION OF EMPLOYMENT.

      (a)   Termination By The Company Other Than For Cause Or Disability Or By
            Employee For Good Reason.

            (1) The Company shall have the right to terminate Employee's
            employment other than for "Cause" or "Disability" at any time and
            Employee shall have the right to quit or resign for "Good Reason" at
            any time.

            (2) If the Company or its successors terminates Employee's
            employment (or, fails to maintain or reelect Employee an officer of
            the Company) other than for Cause or Disability, Employee resigns
            for Good Reason, or the Company fails to renew Employee's employment
            agreement for a term of at least one (1) year, the Company shall
            continue to pay Employee's monthly base salary as in effect
            immediately before Employee's termination of employment until the
            end of the Term, and for one (1) year thereafter or, if earlier,
            until the date the Company determines that Employee has engaged in
            any activity which violates any covenant under this Agreement.

            (3) Option Acceleration. If Employee's employment with the Company
            or its successors terminates as a result other than for "Cause" or
            "Disability," Company fails to maintain or reelect Employee an
            officer of the Company, Employee resigns for "Good Reason", or
            Company fails to renew this Employment Agreement for an additional
            one (1) year term, then any outstanding stock option(s) granted by
            the Company to the

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            Employee shall become fully vested and shall remain exercisable for
            twelve (12) months following Employee's termination pursuant to this
            Section 4(a), or the tenth anniversary of the date(s) of the
            grant(s) specified in the relevant option agreement(s), whichever is
            the shorter period.

      (b)   Termination By The Company For Cause Or By Employee Other Than For
            Good Reason.

            (1) The Company shall have the right to terminate Employee's
            employment at any time for Cause and Employee shall have the right
            to resign at any time other than for Good Reason.

            (2) If the Company terminates Employee's employment for Cause or
            Employee quits or resigns other than for Good Reason, the Company's
            only obligation to Employee under this Employment Agreement shall be
            to pay Employee's base salary (including accrued vacation) actually
            earned up to the date Employee's employment terminates.

      (c)   Cause. The term "Cause" shall mean (1) Employee's final conviction
            of a felony by a trial court, (2) Employee's breach of this
            Employment Agreement or (3) Employee's violation of any policy or
            code of conduct of the Company, all as reasonably determined by the
            Company.

      (d)   Good Reason. The term "Good Reason" shall mean a material breach of
            the terms and conditions of this Employment Agreement by the Company
            which remains uncorrected for thirty (30) days after Employee
            delivers written notice of such breach to the Company.

      (e)   Termination for Disability or Death.

            (1) The Company shall have the right to terminate Employee's
            employment on or after the date Employee has a Disability, and
            Employee's employment shall terminate at Employee's death.

            (2) If Employee's employment terminates under this section 4(e), the
            Company's only obligation under this Employment Agreement shall be
            to pay Employee or, if Employee dies, Employee's estate any base
            salary (including accrued vacation) earned but unpaid through the
            date employee's employment terminates.

      (f)   Disability. Employee shall have a "disability" under this Employment
            Agreement on the date the Company receives written notice from a
            physician selected by the Company that Employee no longer can
            perform one or more of the essential functions of Employee's job
            even with reasonable accommodation.

      (g)   Benefits. Employee shall have the right to receive any benefits
            payable under the Company's employee benefits plans, programs and
            policies which Employee otherwise has a non-forfeitable right to
            receive under the terms of such plans, programs and policies

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<PAGE>

      (other than severance benefits) independent of Employee's rights under
      this Employment Agreement upon a termination of employment in addition to
      any monthly base salary payable under this section 4 without regard to the
      reason for such termination of employment.

SECTION 5. COVENANTS BY EMPLOYEE

      (a)   Property of the Company.

            (1) Employee covenants and agrees that upon the termination of
            Employee's employment for any reason or, if earlier, upon the
            Company's request shall promptly return all "Property" which had
            been entrusted or made available to Employee by the Company.

            (2) The term "Property" shall mean all records, files, memoranda,
            reports, price lists, drawing, plans, sketches, keys, codes,
            computer hardware and software and other property of any kind or
            description prepared, used or possessed by Employee during
            Employee's employment by the Company (and any duplicates of any such
            property) together with any and all information, ideas, concepts,
            discoveries, and inventions and the like conceived, made, developed
            or acquired at any time by Employee individually or with others
            during Employee's employment which relate to the Company's business,
            products or services.

      (b)   Trade Secrets.

            (1) In consideration for the promises made in section 5(d) of this
            Agreement, the Company promises that it will provide and make
            available to Employee certain confidential, proprietary information
            and trade secrets.

            (2) Employee covenants and agrees that Employee will hold in a
            fiduciary capacity for the benefit of the Company and each of its
            affiliates, and will not directly or indirectly use or disclose, any
            Trade Secret that Employee may have acquired pursuant to section
            5(b)(1) above during the term of Employee's employment by the
            Company for so long as such information remains a trade secret.

            (3) The term "Trade Secret" shall mean information, including, but
            not limited to, technical or non-technical data, a formula, a
            patent, a compilation, a program, a device, a method, a technique, a
            drawing, a process, financial data, financial plans, product plans,
            or that (a) derives economic value, actual or potential, from not
            being generally known to, and not being generally readily
            ascertainable by proper means by, other persons who can obtain
            economic value from its disclosures or use and (b) is the subject of
            reasonable efforts by the Company and its affiliates to maintain its
            secrecy.

            (4) This section 5(b) is intended to provide rights to the Company
            which are in addition to those rights the Company has under the
            common law or applicable statutes for the protection of trade
            secrets.

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      (c)   Confidential Information.

            (1) Employee covenants and agrees while employed under this
            Employment Agreement and thereafter during the "Restricted Period"
            he shall hold in a fiduciary capacity for the benefit of the Company
            and its affiliates, and shall not directly or indirectly use or
            disclose, any of the Company's or the Company's affiliates'
            Confidential or Proprietary Information that Employee may have
            acquired (whether or not developed or compiled by Employee and
            whether or not Employee is authorized to have access to such
            information) during the term of, and in the course of, or as a
            result of Employee's employment by the Company or its affiliates.

            (2) The term "Confidential or Proprietary Information" shall mean
            any secret, confidential or proprietary information that the Company
            or an affiliate (not otherwise included in the definition of a Trade
            Secret under this Agreement) that has not become generally available
            to the public by the act of one who has the right to disclose such
            information without violation of any right of the Company or its
            affiliates.

      (d)   Non-Competition. During the Term of Employee's employment with the
            Company or for any period beyond the Term that Employee continues to
            be paid a base salary, the Employee covenants and agrees that he
            shall not, directly or indirectly, own any interest in, manage,
            control, participate in, consult with, render services for, or in
            any manner engage in any businesses competing with Company (unless
            the Board of Directors shall have authorized such activity and the
            Company shall have consented thereto in writing). Investments in
            less than 5% of the outstanding securities of any class of the
            Company subject to the reporting requirements of Section 13 or
            Section 15(d) of the Securities Exchange Act of 1934, as amended,
            shall not be prohibited by this section. For purposes of this
            section (d), the term "Company" shall include Benton Oil and Gas
            Company and any of its affiliates or subsidiaries or any company in
            which it is a minority shareholder or a joint venture partner. For
            purposes of this section, the term "businesses" shall mean any
            enterprise, commercial venture, or project involving oil and gas
            upstream or downstream commercial activities.

            Further, during the Term of Employee's employment with the Company
            or for any period beyond the Term that Employee continues to be paid
            a base salary, the Employee covenants and agrees that he will not
            directly or indirectly through another entity induce or otherwise
            attempt to influence any employee of the Company to leave the
            Company's employment or in any way interfere with the relationship
            between Company and any employee thereof. Further, the Employee will
            not induce or attempt to induce any customer, supplier, licensee,
            joint venture partner, shareholder, licensor or other business
            relation of the Company to cease doing business with the Company or
            in any way interfere with the relationship between any such
            customer, supplier, licensee, joint venture partner, shareholder,
            licensor or business relation of the Company.

                                       5
<PAGE>

      (e)   Employment Restriction - Conflict of Interest: Employee covenants
            and agrees that he will not receive and has not received any
            payments, gifts or promises and Employee will not engage in any
            employment or business enterprises that in any way conflict with his
            service and the interests of the Company or its affiliates. In
            addition, Employee agrees to comply with the laws or regulations of
            any country, including the United States of America, having
            jurisdiction over Employee or the Company.

            Employee shall not make any payments, loans, gifts or promises or
            offers of payments, loans or gifts, directly or indirectly, to or
            for the use or benefit of any official or employee of any government
            or to any other person if Employee knows, or has reason to believe,
            that any part of such payments, loans or gifts, or promise or offer,
            would violate the laws or regulations of any country, including the
            United States of America, having jurisdiction over Employee or the
            Company

            By signing this Agreement, Employee acknowledges that he has not
            made and will not make any payments, loans, gifts, promises of
            payments, loans or gifts to or for the use or benefit of any
            official or employee of any government or to any other person which
            would violate the laws or regulations of any country, including the
            United States of America, having jurisdiction over Employee or the
            Company.

      (f)   Restricted Period. The term "Restricted Period" shall mean the two
            years period which starts on the date Employee's employment
            terminates with the Company without regard to whether such
            termination comes before or after the end of the Term.

      (g)   Reasonable and Continuing Obligations. Employee agrees that
            Employee's obligations under this section 5 are obligations which
            will continue beyond the date Employee's employment terminates, that
            such obligations are reasonable and necessary to protect the
            Company's legitimate business interests. The Company additionally
            shall have the right to take such other action as the Company deems
            necessary or appropriate to compel compliance with the provisions of
            this section 5.

SECTION 6. MISCELLANEOUS.

      (a)   Notices. Notices and all other communications shall be in writing
            and shall be deemed to have been duly given when personally
            delivered or when mailed by United States registered or certified
            mail. Notices to the Company shall be sent to 15835 Park Ten Place
            Drive, Houston, Texas 77084. Notices and communications to Employee
            shall be sent to the Employee's address provided above.

      (b)   No Waiver. Except for the notice described in section 4(d), no
            failure by either the Company or Employee at any time to give notice
            of any breach by the other of, or to require compliance with, any
            condition or provision of this Employment Agreement shall be deemed
            a waiver of any provisions or condition of this Employment Agreement

                                       6
<PAGE>

      (c)   Arbitration and Governing Law. ANY UNRESOLVED DISPUTE OR CONTROVERSY
            BETWEEN EMPLOYEE AND THE COMPANY ARISING UNDER OR IN CONNECTION WITH
            THIS AGREEMENT SHALL BE SETTLED EXCLUSIVELY BY ARBITRATION,
            CONDUCTED IN ACCORDANCE WITH THE RULES OF THE AMERICAN ARBITRATION
            ASSOCIATION THEN IN EFFECT. THE COMPANY WILL BEAR THE ADMINISTRATIVE
            COSTS OF ANY ARBITRATION UNDER THIS AGREEMENT, INCLUDING THE
            ARBITRATOR'S FEES. THE ARBITRATOR SHALL NOT HAVE THE AUTHORITY TO
            ADD TO, DETRACT FROM, OR MODIFY ANY PROVISION HEREOF. THE ARBITRATOR
            SHALL HAVE THE AUTHORITY TO ORDER REMEDIES WHICH EMPLOYEE COULD
            OBTAIN IN A COURT OF COMPETENT JURISDICTION, INCLUDING BACK-PAY,
            SEVERANCE COMPENSATION, REIMBURSEMENT OF COSTS, INCLUDING THOSE
            INCURRED TO ENFORCE THIS AGREEMENT, AND INTEREST THEREON IN THE
            EVENT THE ARBITRATOR DETERMINES THAT EMPLOYEE WAS TERMINATED WITHOUT
            DISABILITY OR GOOD CAUSE, AS DEFINED HEREIN, OR THAT THE COMPANY HAS
            OTHERWISE MATERIALLY BREACHED THIS AGREEMENT. A DECISION BY THE
            ARBITRATOR SHALL BE IN WRITING AND WILL BE FINAL AND BINDING.
            JUDGMENT MAY BE ENTERED ON THE ARBITRATOR'S AWARD IN ANY COURT
            HAVING JURISDICTION. THE ARBITRATION PROCEEDING SHALL BE HELD IN
            HOUSTON, TEXAS, UNITED STATES OF AMERICA. NOTWITHSTANDING THE
            FOREGOING, THE COMPANY SHALL BE ENTITLED TO SEEK INJUNCTIVE OR OTHER
            EQUITABLE RELIEF, FROM ANY COURT OF COMPETENT JURISDICTION, WITHOUT
            THE NEED TO RESORT TO ARBITRATION IN THE EVENT THAT EMPLOYEE
            VIOLATES SECTIONS 5(c), 5(d) OR 5(e) OF THIS AGREEMENT. THIS
            AGREEMENT SHALL IN ALL RESPECTS BE CONSTRUCTED ACCORDING TO THE LAWS
            OF THE STATE OF TEXAS.

      (d)   Assignment. This Employment Agreement shall be binding upon and
            inure to the benefit of the Company and any successor to all or
            substantially all of the business or assets of the Company. The
            Company may assign this Employment Agreement to any affiliate or
            successor, and no such assignment shall be treated as a termination
            of Employee's employment under this Employment Agreement. Employee's
            rights and obligations under this Employment Agreement are personal,
            and they shall not be assigned or transferred without the Company's
            prior written consent.

      (e)   Other Agreements. This Employment Agreement replaces and merges any
            and all previous agreements and understandings regarding all the
            terms and conditions of Employee's employment relationship with the
            Company, and this Employment Agreement constitutes the entire
            agreement of the Company and Employee with respect to such terms and
            conditions.

      (f)   Amendment. No amendment to this Employment Agreement shall be
            effective unless it is in writing and signed by the Company and by
            Employee.

                                       7
<PAGE>

      (g)   Invalidity. If any part of this Employment Agreement is held by a
            court of competent jurisdiction to be invalid or otherwise
            unenforceable, the remaining part shall be unaffected and shall
            continue in full force and effect, and the invalid or otherwise
            unenforceable part shall be deemed not to be part of this Employment
            Agreement.

      IN WITNESS WHEREOF, the Company and Employee have executed this Employment
Agreement in multiple originals to be effective as set out above.

BENTON OIL AND GAS COMPANY                         KURT A. NELSON

By:_______________________________                 _____________________________

   _______________________________
   Title

                                        8

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