Document:

Exhibit 10.69

On the Letterhead of Ryder Scott Company, L.P.

                                                              April 9, 2001

Chaparral Resources, Inc.
16945 Northchase, Suite 1620
Houston, Texas 77060

Gentlemen:

     At your request, we have prepared an estimate of the reserves, future
production, and income attributable to certain leasehold and royalty interests
of Karakuduk-Munay, JSC ("KKM"), in the Karakuduk Field as of December 31, 2000.
The subject properties are located in the Republic of Kazakhstan. The income
data were estimated using the Securities and Exchange Commission (SEC)
requirements for future price and cost parameters.

     The estimated reserves and future income amounts presented in this report
are related to hydrocarbon prices. Hydrocarbon prices in effect at December 31,
2000 were used in the preparation of this report as required by SEC rules;
however, actual future prices may vary significantly from December 31, 2000
prices. Therefore, volumes of reserves actually recovered and amounts of income
actually received may differ significantly from the estimated quantities
presented in this report. The results of this study are summarized below.

                                 SEC PARAMETERS
                     Estimated Net Reserves and Income Data
                   Certain Leasehold and Royalty Interests of
                              Karakuduk-Munay, JSC
                             As of December 31, 2000
         --------------------------------------------------------------

                                                   Proved
                             ---------------------------------------------------
                                   Developed
                             -------------------------                  Total
                             Producing   Non-Producing  Undeveloped     Proved
                             ---------   -------------  -----------   ----------
Net Remaining Reserves
  Oil/Condensate - Barrels   4,722,114     6,315,300     23,985,010   35,022,424

Income Data ($M)
  Future Gross Revenue         $84,253      $112,678      $427,945      $624,875
  Deductions                    39,619        52,553       241,784       333,956
                                ------        ------       -------       -------
  Future Net Income (FNI)      $44,634       $60,125      $186,161      $290,919

  Discounted FNI @ 10%         $35,577       $37,833      $111,782      $185,192

         Liquid hydrocarbons are expressed in standard 42 gallon barrels.

<PAGE>

Chaparral Resources, Inc.
April 9, 2001
Page 2

     The future gross revenue is after the deduction of royalty. The deductions
comprise the normal direct costs of operating the wells, Stasco Commission,
export tariff, local sales tariff, recompletion costs, development costs, and
certain abandonment costs. The future net income is before the deduction of
state and federal income taxes and general administrative overhead, and has not
been adjusted for outstanding loans that may exist nor does it include any
adjustment for cash on hand or undistributed income. Liquid hydrocarbon reserves
account for 100 percent of total future gross revenue from proved reserves.

     The calculation of royalty in this analysis has been handled as a deduction
from the future gross revenue. At the request of KKM, the value of the royalty
deduction has been converted to equivalent barrels. The net remaining reserves
after deduction of those equivalent barrels is shown in the following table.
These reserve numbers reflect both gravity conversion losses and equivalent
royalty barrels.

                                 SEC PARAMETERS
            Estimated Net Reserves after Deduction of Royalty Barrels
                   Certain Leasehold and Royalty Interests of
                              Karakuduk-Munay, JSC
                             As of December 31, 2000
           ----------------------------------------------------------

                                                    Proved
                             ---------------------------------------------------
                                    Developed
                             -------------------------                  Total
                             Producing   Non-Producing   Undeveloped    Proved
                             ---------   -------------   -----------  ----------
Net Remaining Reserves
  Oil/Condensate - Barrels   4,455,483     5,958,663      22,630,594  33,044,740

     The discounted future net income shown above was calculated using a
discount rate of 10 percent per annum compounded monthly. Future net income was
discounted at four other discount rates which were also compounded monthly.
These results are shown on each estimated projection of future production and
income presented in a later section of this report and in summary form below.

                                    Discounted Future Net Income
                                       As of December 31, 2000
                              ---------------------------------------
   Discount Rate                                Total
      Percent                                   Proved
---------------------                     -------------------

         12                                   $170,541M
         15                                   $151,399M
         18                                   $135,106M
         20                                   $125,170M

     The results shown above are presented for your information and should not
be construed as our estimate of fair market value.

<PAGE>

Chaparral Resources, Inc.
April 9, 2001
Page 3

Reserves Included in This Report

     The proved reserves included herein conform to the definition as set forth
in the Securities and Exchange Commission's Regulation S-X Part 210.4-10 (a) as
clarified by subsequent Commission Staff Accounting Bulletins. The definitions
of proved reserves are included under the tab "Reserve Definitions" in this
report.

     Because of the direct relationship between volumes of proved undeveloped
reserves and development plans, we include in the proved undeveloped category
only reserves assigned to undeveloped locations that we have been assured will
definitely be drilled. Undeveloped reserves included in this evaluation only
reflect the reserves assigned to undeveloped locations that are direct offsets
to producing wells or direct offsets to exploration wells that were tested at
significant rates.

     KKM has interests in certain areas of the Karakuduk Field that may contain
substantial additional hydrocarbon potential not included herein. KKM has active
exploratory and development drilling programs that may result in the discovery
or reclassification of significant additional volumes.

     The various reserve status categories are defined under the tab "Reserve
Definitions" in this report. The developed non-producing reserves included
herein are comprised of the behind pipe category.

<PAGE>

Chaparral Resources, Inc.
April 9, 2001
Page 4

Estimates of Reserves

     In general, the reserves included herein were estimated by performance
methods or the volumetric method; however, other methods were used in certain
cases where characteristics of the data indicated such other methods were more
appropriate in our opinion. The reserves estimated by the performance method
utilized extrapolations of various historical data in those cases where such
data were definitive. Reserves were estimated by the volumetric method in those
cases where there were inadequate historical performance data to establish a
definitive trend or where the use of production performance data as a basis for
the reserve estimates was considered to be inappropriate.

     The reserves included in this report are estimates only and should not be
construed as being exact quantities. They may or may not be actually recovered,
and if recovered, the revenues therefrom and the actual costs related thereto
could be more or less than the estimated amounts. Moreover, estimates of
reserves may increase or decrease as a result of future operations.

Future Production Rates

     Initial production rates are based on the current producing rates for those
wells now on production. Test data and other related information were used to
estimate the anticipated initial production rates for those wells or locations
that are not currently producing. For wells on production, the established
decline trend was used as the basis for estimating future production rates. For
reserves not yet on production, sales were estimated to commence at an
anticipated date furnished by KKM.

     The future production rates from wells now on production may be more or
less than estimated because of changes in market demand or allowables set by
regulatory bodies. Wells or locations that are not currently producing may start
producing earlier or later than anticipated in our estimates of their future
production rates.

Hydrocarbon Prices

     KKM furnished us with both export and domestic hydrocarbon prices in effect
at December 31, 2000 and with its forecasts of future prices which take into
account SEC and Financial Accounting Standards Board (FASB) rules, current
market prices, contract prices, and fixed and determinable price escalations
where applicable.

     In accordance with FASB Statement No. 69, December 31, 2000 market prices
were determined using the daily oil price ("spot price") adjusted for oilfield
wellhead price differences (e.g. grade, transportation, gravity, sulfur and
BS&W) as appropriate. Also in accordance with SEC and FASB specifications,
changes in market prices subsequent to December 31, 2000 were not considered in
this report.

     KKM advised us that they have been required to sell a portion of their
production on the domestic market and for purposes of this report we should
assume KKM will export 80 percent of their crude production and sell 20 percent
on the domestic market.

     The effects of derivative instruments designated as price hedges of oil and
gas quantities are not reflected in our individual property evaluations.

<PAGE>

Chaparral Resources, Inc.
April 9, 2001
Page 5

Costs

     Operating costs for the wells in this report were supplied by KKM and
include only those costs directly applicable to the field operations. When
applicable, the operating costs include a portion of general and administrative
costs allocated directly to the field operations. No deduction was made for
indirect costs such as general administration and overhead expenses, loan
repayments, interest expenses, and exploration and development prepayments that
are not charged directly to the field.

     Development costs were furnished to us by KKM and are based on
authorizations for expenditure for the proposed work or actual costs for similar
projects. The estimated cost of abandonment was included. The estimates of the
abandonment costs furnished by KKM were accepted without independent
verification.

     Current costs were held constant throughout the life of the properties.

General

     Tables 1 through 77 present our estimated projection of production and
income by years beginning January 1, 2001, by reserve category and well.

     While it may reasonably be anticipated that the future prices received for
the sale of production and the operating costs and other costs relating to such
production may also increase or decrease from existing levels, such changes
were, in accordance with rules adopted by the SEC, omitted from consideration in
making this evaluation.

     The estimates of reserves presented herein were based upon a detailed study
of the properties in which KKM owns an interest; however, we have not made any
field examination of the properties. No consideration was given in this report
to potential environmental liabilities that may exist nor were any costs
included for potential liability to restore and clean up damages, if any, caused
by past operating practices. KKM has informed us that they have furnished us all
of the accounts, records, geological and engineering data, and reports and other
data required for this investigation. The ownership interests, prices, and other
factual data furnished by KKM were accepted without independent verification.
The estimates presented in this report are based on data available through
December 2000.

     KKM has assured us of their intent and ability to proceed with the
development activities included in this report, and that they are not aware of
any legal, regulatory or political obstacles that would significantly alter
their plans.

     Neither Ryder Scott Company nor any of our employees have any interest in
the subject properties and neither the employment to make this study nor the
compensation is contingent on our estimates of reserves and future income for
the subject properties.

<PAGE>

Chaparral Resources, Inc.
April 9, 2001
Page 6

     This report was prepared for the exclusive use and sole benefit of KKM and
Chaparral Resources, Inc. The data, work papers, and maps used in this report
are available for examination by authorized parties in our offices. Please
contact us if we can be of further service.

                                            Very truly yours,

                                            RYDER SCOTT COMPANY, L.P.

                                            By:  /s/  Larry T. Nelms
                                               --------------------------------
                                                      Larry T. Nelms, P.E.
                                                      Senior Vice PresidentEMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT ("Agreement"), effective as of the 1st day of
January, 2000, is by and between Celebrity Sports Network, Inc., a Colorado
corporation with its principal place of business located at 1869 West Littleton
Boulevard, Littleton, Colorado 80120 ("Corporation") and R. David Preston
("Employee").

     WHEREAS, Corporation and Employee desire to enter into an employment
agreement setting forth certain terms and conditions of Employee's employment.

     NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Corporation hereby employs the
Employee and the Employee hereby accepts employment on the terms and conditions
hereinafter set forth as follows:

1.   Term. Subject to the provisions for termination hereinafter provided, the
     initial term of this Agreement shall commence on the effective date hereof,
     and continue for a term of one year. Such term shall be automatically
     renewed, unless within 60 days prior to expiration written notice is given
     by either party that the Agreement should not be renewed. Upon renewal, the
     Corporation and Employee may agree to modification of any of the terms or
     conditions of this Agreement, except that employee's compensation may not
     be reduced without Employee's consent. Any such modification shall be set
     forth in an amendment to this agreement executed by both parties.

2.   Duties. Employee is engaged as the President of the Corporation. In such
     capacity, Employee shall exercise supervision of the daily operations of
     the Corporation, subject to the control of the Board of Directors, and
     shall assist the Board in the day-to-day administration of the Corporation.
     He shall perform all duties incident to such position, such other duties as
     from time to time may be assigned by the Board of Directors and shall
     adhere to the policies of the Corporation as set by the Board of Directors.

3.   Compensation. For all services rendered by the Employee under this
     Agreement, commencing as of the effective date hereof, the Corporation
     shall be obligated to pay the Employee a salary of $48,000 per year, such
     salary to be paid on a semi-monthly basis on the dates and at the times as
     is the regular practice of the Corporation. Employee shall also be entitled
     to participate in any and all benefit plans maintained by the Corporation
     for its employees, including pension, equity option, profit sharing and
     health insurance plans which the Corporation may adopt from time to time;
     provided however that the Corporation shall not be obligated to provide any
     or all of these benefits to employees.

<PAGE>

4.   Best Efforts of Employee. Employee shall devote his full time to the
     Corporation during normal business hours. Employee recognizes that his
     duties may from time to time require his services after hours or on
     weekends. Employee shall at all times faithfully, with diligence and to the
     best of his ability, experience and talents, perform all the duties that
     may be required of and from him pursuant to the express and implicit terms
     hereof to the reasonable satisfaction of the Corporation. Such services
     shall be rendered at such other place or places as the Corporation shall in
     good faith require or as the interest, needs, business or opportunity of
     the Corporation shall require.

5.   Working Facilities. Employee shall be furnished with all such facilities
     and services suitable to his position and adequate for the performance of
     his duties.

6.   Expenses. Employee may incur certain expenses on behalf of the Corporation
     and in pursuit of his duties. Employee shall be entitled to reimbursement
     of all reasonable and necessary expenses incurred by him on behalf of the
     Corporation upon submission of an itemized account and receipts for such
     expenditures in accordance with guidelines determined by the Internal
     Revenue Service. Employee may be reimbursed for such expenses not less
     frequently than monthly.

7.   Vacation. Employee shall be entitled each year to two weeks vacation during
     which time his compensation shall be paid in full. Employee shall endeavor
     to arrange his vacation to avoid seriously interfering with the business of
     the Corporation.

8.   Sickness and Disability. Employee shall be granted sick leave in accordance
     with the Corporation's general policies and procedures.

9.   Termination.

     (a) This Agreement shall terminate on the first to occur of the following
     events:

          (1) Sixty (60) days written notice by either party;
          (2) Death of Employee; or
          (3) Immediately upon written notice from the Corporation terminating
          Employee for cause, as defined below;

     (b) In the event of termination by the Corporation under paragraph 9(a)(1),
     the Corporation shall pay Employee 30 days severance pay after Employee's
     employment with the Corporation ends. In the case of termination by the
     Corporation under paragraph 9(a)(1), the Corporation may elect to pay
     Employee 90 days severance pay immediately, in lieu of the notice required.
     Employee shall not be entitled to any additional compensation upon his
     resignation or death, or if terminated for cause.

     (c) For purposes of this Section 9, "cause" shall be defined as meaning
     such conduct by the Employee which constitutes in fact or in law a breach
     of fiduciary duty, felonious conduct or other activity materially adverse
     to the interests of the Corporation, in the opinion of the Board of
     Directors.

                                       2
<PAGE>

10.  Notices. All notices, demands, elections, opinions or requests (however
     characterized or described) required or authorized hereunder shall be
     deemed given sufficiently if in writing and sent by registered or certified
     mail, return receipt requested and postage prepaid, or by tested facsimile
     to, in the case of the Corporation:

          Celebrity Sports Network, Inc.
          1869 West Littleton Boulevard
          Littleton, Colorado 80120

          with copies to each Director of the Corporation

     and in the case of the Employee:

          R. David Preston
          2119 Arapahoe Street
          Golden, Colorado 80401

11.  Survival of Representations, Warranties and Covenants. This Agreement and
     the representations, warranties, covenants and other agreements (however
     characterized or described) by both parties hereto and contained herein or
     made pursuant to the provisions hereof shall survive the execution and
     delivery of this Agreement and the provisions of Section 9 shall survive
     termination of this Agreement.

12.  Severability. If any provisions of this Agreement shall be held, declared
     or pronounced void, voidable, invalid, unenforceable or inoperative for any
     reason by any court of competent jurisdiction, government authority or
     otherwise, such holding, declaration or pronouncement shall not affect
     adversely any other provision of this Agreement, which shall otherwise
     remain in full force and effect and be enforced in accordance with its
     terms and the effect of such holding, declaration or pronouncement shall be
     limited to the territory or jurisdiction in which made.

13.  Waiver. All the rights and remedies of either party under this Agreement
     are cumulative and not exclusive of any other rights and remedies provided
     by law. No delay or failure on the part of either party in the exercise of
     any right or remedy arising from a breach of this Agreement shall operate
     as a waiver of any subsequent right or remedy arising from a subsequent
     breach of this Agreement. The consent of any party where required hereunder
     to any act of occurrence shall not be deemed to be a consent to any other
     act of occurrence.

14.  General Provisions. This Agreement shall be construed and enforced in
     accordance with, and governed by, the laws of the State of Colorado. Except
     as otherwise expressly stated herein, time is of the essence in performing
     hereunder. This Agreement embodies the entire agreement and understanding
     between the parties and supersedes all prior agreements and understanding
     relating to the subject matter hereof, and this Agreement may not be
     modified or amended or any term of provision hereof waived or discharged
     except in writing signed by the party against whom such amendment,
     modification, waiver of discharge is sought to be enforced. The headings of
     this Agreement are for convenience in reference only and shall not limit or
     otherwise affect the meaning thereof. The Agreement may be executed in any
     number of counterparts, each of which shall be deemed an original but all
     of which taken together shall constitute one and the same instrument.

                                       3
<PAGE>

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

CORPORATION:                                 EMPLOYEE:
Celebrity Sports Network, Inc.
    a Colorado corporation

By: /s/ Robbin M. Minkel                     /s/ R. David Preston
---------------------------------            -----------------------------------
Robbin M. Minkel, its Vice President         R. David Preston

                                       4

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