Document:

Exhibit 10.1

                               15% PROMISSORY NOTE

THE SECURITY  REPRESENTED  HEREBY WAS ORIGINALLY ISSUED AS OF JULY 20, 2005, HAS
NOT BEEN  REGISTERED  UNDER THE  SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"),
AND MAY NOT BE SOLD OR TRANSFERRED  IN THE ABSENCE OF AN EFFECTIVE  REGISTRATION
STATEMENT UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION THEREUNDER.

                                 PROMISSORY NOTE
                                 ---------------

July 20, 2005                                                         $3,000,000

     Quest Cherokee,  LLC, a Delaware limited liability company (the "Company"),
hereby  promises  to pay to the order of Quest  Resource  Corporation,  a Nevada
corporation  (the "Lender"),  the principal  amount of $3,000,000 or such lesser
amount  which shall from time to time be owing  hereunder on account of advances
(each an "Advance" and  collectively  "Advances") made by the Lender as provided
herein,  together  with interest on the unpaid  principal  balances from time to
time  outstanding  hereunder  calculated  from the  date  hereof  (the  "Date of
Issuance")  in  accordance  with the  provisions  of this  Promissory  Note (the
"Note").

     For  purposes  of this Note,  "Notes"  means this Note and all other  notes
issued on the date hereof or at any time  hereafter  in  substantially  the same
form (including any PIK Notes (as defined in Section 6 hereof)).

     1.  Payment  of  Interest.  Interest  shall  accrue at the rate of  fifteen
percent (15%) per annum on the unpaid principal amount of this Note from time to
time  outstanding.  Interest  shall be computed on the basis of a 365 or 366-day
year (as applicable) and the actual number of days elapsed, and shall be payable
on each Interest  Payment Date (as defined in Section 6 hereof);  provided that,
on each Interest  Payment  Date,  the Company may pay interest in kind by either
(i) issuing a PIK Note to the holder  hereof in  principal  amount  equal to the
amount of the interest due on such Interest  Payment Date or (ii)  deferring the
interest due on such Interest Payment Date and all interest so deferred pursuant
to this clause (ii) shall be added to and become a part of the principal of this
Note as of the  Interest  Payment  Date upon  which it was  deferred,  and shall
thereafter  earn  interest  as provided  herein.  Except as provided in the last
sentence  of this  Section  1, in all  events an amount of  accrued  and  unpaid
interest  (including  any  interest  represented  by a  PIK  Note  or  otherwise
previously  added to  principal)  shall be paid by the Company in cash,  on each
Interest  Payment Date  occurring  after  December 22, 2008,  equal to the least
amount of such accrued and unpaid  interest such that the Note shall not have at
any time  "significant  original issue  discount"  within the meaning of section
163(i)(2) of the Internal  Revenue Code of 1986. Any accrued  interest which for
any  reason has not  theretofore  been paid shall be paid in full on the date on
which the final principal payment on this Note is made.

     2. Payment of Principal on Note.
        ----------------------------

        (a) Maturity.  The Company shall pay the principal amount  outstanding
under this Note  (including  interest  deferred and added to the  principal
amount of this Note as provided

                                Page 1
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in Section 1 above)  together with all accrued and unpaid  interest on such
principal  amount,  to the holder of this Note on the Final  Maturity Date (as
defined in Section 6).

        (b) Prepayments.
            -----------

          (i) Upon  notice  given as  provided in  subsection  (ii)  below,  the
     Company may at any time and from time to time prepay all or any  proportion
     of the outstanding  principal  amount of the Note, plus accrued interest on
     the  outstanding   principal  amount  of  the  Note  through  the  date  of
     prepayment.

          (ii) The Company  shall send written  notice of its election to make a
     prepayment  on the  Notes  to the  holder  of this  Note by  registered  or
     certified mail, return receipt requested,  at least three (3) Business Days
     prior to the date of  prepayment.  Such notice shall specify the date fixed
     for prepayment,  the aggregate principal amount outstanding,  the aggregate
     amount of interest accrued on the outstanding principal amount of this Note
     through the date of prepayment specified in the Company's notice.

          (c) Time of Payment. If any payment of principal,  interest or premium
     shall become due on a day which is not a Business  Day (as defined  below),
     such  payment  shall be made on the next  succeeding  Business Day and such
     extension of time shall in such case be included in  computing  interest in
     connection with such payment.  The term "Business Day" as used herein means
     any day other than  Saturday or Sunday or public  holiday under the laws of
     the  State of New  York or other  day on  which  banking  institutions  are
     authorized  or  obligated  to close in the City of New York in the State of
     New York.

          (d) Form of Payment. Unless otherwise indicated herein, any payment to
     be made  hereunder  shall be made at the  direction of the holder hereof by
     cashier's or certified  check to or upon the order of the holder or by wire
     transfer of  immediately  available  funds to an account  designated by the
     holder.

     3.  Advances;  Use of  Proceeds.  From time to time,  the  Company  may
request  the Lender to make  Advances  of funds to the  Company in an  aggregate
principal amount not to exceed $3,000,000. Amounts borrowed and repaid hereunder
may not be  reborrowed.  The Lender has no obligation to Advance any funds under
this Note. Upon receipt of a request for borrowing by the Company hereunder, the
Lender shall determine in its sole  discretion  whether to advance such funds to
the Company.  The Company  agrees that all Advances  made  hereunder,  any other
advances of funds which the Lender makes hereunder and all interest, charges and
expenses  accrued  with  respect  hereto  (said  accrued  interest,  charges and
expenses  being  hereinafter  collectively  referred  to as  "Charges")  and all
payments made and all other  appropriate  debits and credits will be recorded by
the Lender on its books and will  reflect the current  balance of the  Company's
indebtedness hereunder, which, absent manifest error in the Company's books, the
Company  hereby  agrees to pay.  The  Company  agrees  that the  proceeds of all
Advances  shall be used only for the  purpose  of paying  all or any part of the
purchase price of any property (including equity interests of any person) or the
cost of  installation,  construction  or improvement  of any property  acquired,
installed, constructed or improved within 90 days before such Advance.

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     4. Transfer of Note. This Note may only be transferred  with the consent of
the Company. Upon any such transfer, the holder shall send written notice to the
Company  specifying  the new holder's name and address.  The term "Note" as used
herein  includes  this Note and any  notes or other  evidences  of  indebtedness
issued in exchange for or in respect of this Note or any portion hereof.

     5. Events of Default.
        -----------------

     (e)  Definition.  For purposes of this Note,  an Event of Default  shall be
deemed to have occurred if:

          (i) the  Company  fails to pay (A) when  due,  the full  amount of any
     principal payment on any Note or (B) within five days of the date when due,
     the full amount of any interest then accrued on any Note; or

          (ii) the Company or any subsidiary makes an assignment for the benefit
     of creditors or admits in writing its inability to pay its debts  generally
     as they become due; or an order, judgment or decree is entered adjudicating
     the  Company or any  Subsidiary  bankrupt  or  insolvent;  or any order for
     relief with respect to the company or any  Subsidiary  is entered under the
     Federal  Bankruptcy  Code;  or the Company or any  Subsidiary  petitions or
     applies  to any  tribunal  for the  appointment  of a  custodian,  trustee,
     receiver  or  liquidator  of  the  Company  or  any  Subsidiary,  or of any
     substantial  part  of the  assets  of the  Company  or any  Subsidiary,  or
     commences  any  proceeding  (other  than a  proceeding  for  the  voluntary
     liquidation and  dissolution of any Subsidiary)  relating to the Company or
     any  Subsidiary   under  any   bankruptcy,   reorganization,   arrangement,
     insolvency,  readjustment  of debt,  dissolution or liquidation  law of any
     jurisdiction;  or any such petition or  application  is filed,  or any such
     proceeding is commenced,  against the Company or any  Subsidiary and either
     (A) the Company or any such  Subsidiary  by any act  indicates its approval
     thereof,  consent  thereto or  acquiescence  therein or (B) such  petition,
     application or proceeding is not dismissed within 60 days.

     (f) Consequences of Events of Default. Subject to the provisions of Section
3 hereof,  if an Event of Default has occurred and is continuing,  the holder or
holders of the Notes  representing a majority of the aggregate  principal amount
of the Notes then  outstanding may declare all or any portion of the outstanding
principal  amount of the Notes due and payable and demand  immediate  payment of
all or any  portion of the  outstanding  principal  amount of the Notes owned by
such holder or holders. The Company shall give prompt written notice of any such
demand to the other  holders  of the Notes,  each of which may demand  immediate
payment of all or any portion of such holder's Note.

     6. Definitions.  For purposes of this Note, the following capitalized terms
have the following meaning.

     "Final  Maturity Date" means the later of (i) October 22, 2010 and (ii) the
final maturity date under the Senior Credit Facility. The Company shall have the
right to extend the Final

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<PAGE>

     Maturity Date until December 22, 2010,  provided that the Company  notifies
the holder hereof in writing that it desires to extend the Final  Maturity Date,
such  notice to be  received by the holder of each Note no later than sixty (60)
days prior to the current Final Maturity Date.

     "Interest Payment Date" means the last day of each January, April, July and
October of each year, commencing July 31, 2005.

     "Person" means an  individual,  a  partnership,  a  corporation,  a limited
liability  company,  an  association,  a joint stock  company,  a trust, a joint
venture,  an  unincorporated  organization  and a  governmental  entity  or  any
department, agency or political subdivision thereof.

     "PIK Note" means a  promissory  note of the Company  that is  substantially
identical to this Note except for the stated principal amount thereof.

     "Senior Credit  Agreement"  means that certain Credit Agreement dated as of
July 22, 2004, by and among the Company,  as Borrower,  other  guarantors  party
thereto,  as  Guarantors,  the lenders  from time to time a party  thereto,  UBS
Securities LLC, as Arranger,  Bookmanager,  Documentation  Agent and Syndication
Agent,   the  Senior  Agent,   as  Issuing  Bank  ,LC  Facility   Issuing  Bank,
Administrative  Agent  and  Collateral  Agent,  and UBS  Loan  Finance  LLC,  as
Swingline Lender, as amended, modified or supplemented from time to time and any
replacement,  successor or new credit agreement  entered into in connection with
the refinancing thereof.

     "Subsidiary"  means, with respect to any Person,  any corporation,  limited
liability  company,  partnership,  association or other business entity of which
(i) if a  corporation,  a majority of the total  voting power of shares of stock
entitled  (without  regard to the occurrence of any  contingency) to vote in the
election of  directors,  managers  or  trustees  thereof is at the time owned or
controlled,  directly or indirectly,  by that Person or one or more of the other
Subsidiaries  of that  Person  or a  combination  thereof,  or (ii) if a limited
liability company, partnership, association or other business entity, a majority
of the partnership or other similar  ownership  interest  thereof is at the time
owned or  controlled,  directly  or  indirectly,  by any  Person  or one or more
Subsidiaries of that Person or a combination  thereof.  For purposes  hereof,  a
Person or Persons  shall be deemed to have a majority  ownership  interest  in a
limited liability company, partnership,  association or other business entity if
such  Person or  Persons  shall be  allocated  a majority  of limited  liability
company,  partnership,  association or other business  entity gains or losses or
shall be or control any  managing  director or general  partner of such  limited
liability company, partnership, association or other business entity.

     7. Amendment and Waiver. Except as otherwise expressly provided herein, the
provisions of the Note may be amended and the Company may take any action herein
prohibited,  or omit to perform any act herein  required to be  performed by it,
only if the Company has obtained the written consent of the holders of the Notes
then outstanding.

     8. Cancellation.  After all principal and accrued interest at any time owed
on this  Note has been  paid in full,  this  Note  shall be  surrendered  to the
Company for cancellation and shall not be reissued.

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<PAGE>

     9. Remedies Cumulative.  No remedy herein conferred upon the holder of this
Note is intended to be  exclusive of any other  remedy,  and each and every such
remedy shall be cumulative  and shall be in addition to every other remedy given
hereunder  or now or  hereafter  existing  at law or in equity or by  statute or
otherwise.

     10.  Remedies not Waived.  No course of dealing between the Company and the
holder of this Note or any delay on the part of the holder  hereof in exercising
any  rights  hereunder  shall  operate as a waiver of any right of the holder of
this Note.

     11. Covenants Bind Successors and Assigns. All the covenants, stipulations,
promises and  agreements  in this Note  contained by or on behalf of the Company
shall bind its successors and assigns, whether so expressed or not.

     12.  Governing  Law.  This  Note  shall be  governed  by and  construed  in
accordance with the laws of the State of New York.

     13. Heading.  The headings of the sections and subsections of this Note are
inserted for convenience only and do not constitute a part of this Note.

     14. Acceptance and Acknowledgment. By accepting this Note and advancing the
proceeds of the  indebtedness  evidenced by this Note,  the holder hereof hereby
agrees to,  acknowledges  and accepts,  each of the terms and provisions of this
Note.

                  [Remainder Of Page Intentionally Left Blank]

                                     Page 5

<PAGE>

     IN WITNESS WHEREOF, the Company has executed and delivered this Note on the
Date of Issuance.

                                     QUEST CHEROKEE, LLC

                                     By:  /s/ Jerry D. Cash
                                        ----------------------------------
                                     Name:  Jerry D. Cash
                                     Title:  CEO

                                     Page 6Exhibit 10.2

                             INTERCREDITOR AGREEMENT

     THIS  INTERCREDITOR  AGREEMENT (this "Agreement") is entered into as of the
20th day of July,  2005, by and between  Quest  Resource  Corporation,  a Nevada
corporation  ("QRC"),  and  Cherokee  Energy  Partners  LLC, a Delaware  limited
liability company ("CEP"),  with respect to certain financial  arrangements with
Quest Cherokee, LLC, a Delaware limited liability company ("Borrower").

                                    RECITALS:
                                    ---------

     A. CEP has made to  Borrower  loans in the  aggregate  principal  amount of
$63,000,000  pursuant  to the terms of an Amended  and  Restated  Note  Purchase
Agreement  dated as of February 11, 2005 (together with any subsequent  advances
of monies to Borrower from CEP, the "CEP Loans").  All monies,  liabilities  and
obligations,  of any and every kind and nature,  owed to CEP from Borrower under
the CEP Loans are referred to herein as the "CEP Obligations."

     B. Concurrent with the execution of this Agreement,  QRC desires to loan to
Borrower up to $3,000,000, in the form of a 15% Promissory Note (the "QRC Loans"
and,  together with the CEP Loans,  the "Loans").  All monies,  liabilities  and
obligations,  of any and every kind and nature,  owed to QRC from Borrower under
the QRC Loans are referred to herein as the "QRC Obligations."

     The parties  hereto wish to agree upon the  relative  rights of interest of
CEP and QRC with respect to payments  received from Borrower on or in respect of
the Loans.

                                    AGREEMENT
                                    ---------

     NOW THEREFORE, in consideration of these premises, the terms and conditions
set forth  herein,  and other good and valuable  consideration,  the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

     Section 1.  Recitals.  The recitals  specified  above in this Agreement are
hereby incorporated into this Agreement.

     Section 2.  Definitions.  When used in this Agreement,  the following terms
shall have the meanings set forth as definitions  in this Section.  The singular
use of any  defined  term  shall  include  the  plural  and the plural use shall
include the singular.

     "Enforcement  Action"  shall mean (a) to demand,  sue for,  take or receive
from or on behalf of Borrower,  by set-off or in any other manner,  the whole or
any part of any monies  which may now or  hereafter  be owing by  Borrower  with
respect to the  Obligations,  (b) to initiate or participate  with others in any
suit,  action or  proceeding  against  Borrower to (i) enforce  payment of or to
collect  the  whole or any part of the  Obligations  or (ii)  commence  judicial
enforcement of any of the rights and remedies under the  Obligations,  or (c) to
accelerate any Obligations.

<PAGE>

     "Proceeding"   shall  mean  any   voluntary  or   involuntary   insolvency,
bankruptcy,    receivership,     custodianship,     liquidation,    dissolution,
reorganization,  assignment  for the  benefit  of  creditors,  appointment  of a
custodian,  receiver,  trustee or other officer with similar powers or any other
proceeding for the liquidation, dissolution or other winding up of Borrower.

     "Obligations" shall mean the CEP Obligations and the QRC Obligations.

     Section  3.  Priority  of   Indebtedness.   The  indebtedness  and  payment
obligations  of  Borrower  with  respect  to the  QRC  Obligations  and  the CEP
Obligations  shall be of equal  priority,  and none  shall  have a  priority  of
payment over or be subordinate  to the other.  Any payments made by the Borrower
on any of the Obligations  and the proceeds of any  Enforcement  Action shall be
shared pro rata by QRC and CEP based upon percentages determined by dividing the
outstanding principal amount and accrued and unpaid interest owed to each of QRC
on the QRC  Loans and CEP on the CEP  Loans,  respectively,  by the  outstanding
principal  amount of, and accrued and unpaid interest on, all Loans.  Each party
that  receives  any  payments  from the  Borrower on any of the  Obligations  or
proceeds from any  Enforcement  Action shall promptly pay to the other party its
pro rata share of such amounts.

     Section 4. Default. Each party hereto shall provide prior written notice to
the other parties  hereto (other than Borrower) of any Event of Default of which
it is aware  under the Loans.  If an Event of  Default  occurs on either the CEP
Loans or the QRC Loans,  such default  shall be deemed to be an Event of Default
with  respect to all Loans.  CEP shall have the right to control the exercise of
remedies related to such Event of Default in accordance with Section 7 hereof.

     Section 5. No Third Party  Beneficiaries.  This Agreement and the terms and
provisions  hereof  are  solely  for the  benefit  of CEP and QRC and  shall not
benefit in any way any other person,  including,  but not limited to,  Borrower.
The parties hereto  specifically  reserve any and all of their respective rights
against Borrower and any third parties.

     Section 6. Termination,  Recision or Modification. The agreements set forth
in this  Agreement  shall remain in full force and effect  regardless of whether
either party hereto in the future seeks to rescind,  amend,  terminate or reform
its respective agreements with Borrower.

     Section 7.  Remedies.  CEP shall have the right to control the  exercise of
any remedies  (including the  commencement  and  prosecution of any  Enforcement
Action)  against  the  Borrower  with  respect to an Event of Default  under the
Loans. In the event of the commencement of any Enforcement Action by CEP against
the Borrower,  QRC agrees to cooperate  with CEP in the exercise of the remedies
that are set forth in any written instrument  evidencing any of the Obligations,
including without  limitation any promissory notes executed by Borrower in favor
of CEP or QRC (all such written instruments are referred herein to as "Financing
Documents").

     Section  8.  Waiver of  Marshalling.  Each party to this  Agreement  hereby
waives  any  right to  require  the  other  party to  marshal  any  security  or
collateral  or otherwise to compel the other party to seek  recourse  against or
satisfaction  of the  indebtedness  owed to it from one  source  before  seeking
recourse or satisfaction from another source.

                                       2
<PAGE>

     Section 9. Relation of Parties.  This  Agreement is entered into solely for
the  purposes  set forth in the  Recitals  above,  and,  except as is  expressly
provided otherwise herein, no party to this Agreement assumes any responsibility
to the other party to advise such other party of information known to such party
regarding  the  financial  condition  of Borrower or of any other  circumstances
bearing  upon the risk of  nonpayment  of the  Obligations  of  Borrower  to the
parties  hereto.  Each party shall be responsible for managing its relation with
Borrower and neither  party shall be deemed the agent of the other party for any
purpose.  Each of the  parties  hereto may alter,  amend,  supplement,  release,
discharge  or  otherwise  modify  any  terms  of the  documents  evidencing  and
embodying  their  respective  Obligations  without  notice to or  consent of the
other.

     Section 10.  Notices.  Any notice  required or permitted in connection with
this  Agreement  shall be in  writing  and  shall be made by hand  delivery,  by
Federal Express,  or other similar overnight  delivery service,  or by certified
mail, return receipt requested,  postage prepaid,  addressed to the party at the
appropriate address set forth below or to such other address as may be hereafter
specified  by  written  notice  by such  party  pursuant  to notice to the other
parties  hereto and shall be considered  given as of the date of hand  delivery,
one (1)  calendar  day after  delivery to Federal  Express or similar  overnight
delivery  service,  or  two  (2)  calendar  days  after  the  date  of  mailing,
independent  of the date of mail  delivery or whether  mail  delivery is ever in
fact accomplished, as the case may be:

If to Borrower, to:        Quest Cherokee, LLC
                           9520 North May Ave.
                           Suite 300
                           Oklahoma City, Oklahoma 73120
                           Attention: Chief Executive Officer

If to CEP, to:             Cherokee Energy Partners LLC
                           200 Clarendon Street, 55th Fl.
                           Boston, MA 02117
                           Attn:  General Counsel

If to QRC, to:             Quest Resource Corporation
                           9520 North May Ave.
                           Suite 300
                           Oklahoma City, Oklahoma 73120
                           Attention: Chief Executive Officer

     Section  11.  Binding  Nature.  This  Agreement  shall be binding  upon the
parties and their respective successors and assigns.

     Section 12.  Effective  Date.  This Agreement  shall be effective as of the
date on which it is designated as being executed, independent of the actual date
each party hereto executes this Agreement.

     Section 13. Term of Agreement.  This Agreement shall continue in full force
and effect and shall be  irrevocable by either party hereto until the earlier to
occur of the following:

                                       3
<PAGE>

          (a) The parties mutually agree in writing to terminate this Agreement;
or

          (b) All of the obligations  owed by Borrower to the parties hereto are
fully paid and satisfied.

     Section 14. Section Titles.  The section titles contained in this Agreement
are for convenience only and are without  substantive  meaning or content of any
kind and shall not be considered part of this Agreement.

     Section  15.  Governing  Law.  This  Agreement  shall  be  governed  by and
construed under the laws of the State of New York, all rights and remedies being
governed by such laws.

     Section 16. Continued  Effectiveness  of this Agreement.  The terms of this
Agreement,  the relationship of CEP and QRC governed hereby,  and the rights and
the  obligations  of the  parties  arising  hereunder,  shall  not be  affected,
modified  or impaired  in any manner or to any extent by: (a) any  amendment  or
modification  of or  supplement  to any  of the  Financing  Documents;  (b)  the
validity  or  enforceability  of any  of the  Financing  Documents;  or (c)  any
exercise or  non-exercise  of any right,  power or remedy under or in respect of
the  Obligations  or any of the Financing  Documents.  The parties hereto hereby
acknowledge that the provisions of this Agreement are intended to be enforceable
at all times,  whether before the commencement of, after the commencement of, in
connection with or premised on the occurrence of a Proceeding.

     Section 17. Cumulative Rights, No Waivers. Each and every right, remedy and
power granted to CEP or QRC hereunder shall be cumulative and in addition to any
other right,  remedy or power  specifically  granted  herein,  in the  Financing
Documents,  or now or hereafter existing in equity, at law, by virtue of statute
or  otherwise,  and  may  be  exercised  by CEP  or  QRC,  from  time  to  time,
concurrently or  independently  and as often and in such order as CEP or QRC may
deem expedient. Any failure or delay on the part of CEP or QRC in exercising any
such  right,  remedy or power,  or  abandonment  or  discontinuance  of steps to
enforce the same,  shall not operate as a waiver thereof or affect the rights of
CEP or QRC thereafter to exercise the same,  and any single or partial  exercise
of any such  right,  remedy or power  shall not  preclude  any other or  further
exercise  thereof or the  exercise of any other right,  remedy or power,  and no
such failure, delay,  abandonment or single or partial exercise of the rights of
CEP or QRC hereunder  shall be deemed to establish a custom or course of dealing
or performance among the parties hereto.

     Section 18.  Modification.  Any  modification or waiver of any provision of
this Agreement,  or any consent to any departure by any party  therefrom,  shall
not be effective in any event unless the same is in writing and signed by all of
the parties hereto (other than Borrower), and then such modification,  waiver or
consent  shall be effective  only in the specific  instance and for the specific
purpose given.

     Section 19. Severability. In the event that any provision of this Agreement
is deemed to be invalid,  illegal or unenforceable by reason of the operation of
any law or by  reason  of the  interpretation  placed  thereon  by any  court or
governmental  authority,  the  validity,  legality  and  enforceability  of  the
remaining  provisions  of this  Agreement  shall not in any way be  affected  or
impaired  thereby,  and the affected  provision shall be modified to the minimum
extent  permitted  by law so as most  fully to  achieve  the  intention  of this
Agreement.

                                       4
<PAGE>

     Section 20.  Counterparts.  This  Agreement  may be executed in one or more
counterparts,  each of which shall be deemed to be an original, but all of which
taken together shall be one and the same instrument.

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

                                            CHEROKEE ENERGY PARTNERS LLC,
                                            a Delaware limited liability company

                                            /s/ Daniel R. Revers
                                            ---------------------------------
                                            Name:     Daniel R. Revers
                                            Title:    President

                                            QUEST RESOURCE CORPORATION,
                                            a Nevada corporation

                                            /s/ Jerry D. Cash
                                            ---------------------------------
                                            Name:     Jerry D. Cash
                                            Title:    Chairman and CEO

ACKNOWLEDGEMENT:

The undersigned,  referred to as "Borrower" in the foregoing  Agreement,  hereby
acknowledges  the terms and  provisions  thereof  and  agrees to  recognize  the
priorities and the agreements between CEP and QRC set forth therein.

QUEST CHEROKEE, LLC

By: /s/ Jerry D. Cash
    --------------------------
Name: Jerry D. Cash
Title: Chief Executive Officer

                                       5

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