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                                                                   EXHIBIT 10.23

                       CORDILLERA AND AFFILIATED COMPANIES
                           MONEY PURCHASE PENSION PLAN

                         RESTATED ADOPTION AGREEMENT FOR
                         OCEANIC EXPLORATION COMPANY AND
                  OCEANIC INTERNATIONAL PROPERTIES CORPORATION

         All capitalized terms used in this Adoption Agreement that are
         not explicitly defined herein shall have the meanings set
         forth in the Cordillera and Affiliated Companies Money
         Purchase Pension Plan.

WHEREAS, the Cordillera and Affiliated Companies Money Purchase Pension Plan
(the "Plan") provides that any other Affiliate or Associated Company may, with
the consent of Cordillera Corporation (the "Sponsoring Employer"), adopt the
Plan and participate therein by a properly executed document evidencing said
intent of said Affiliate or Associated Company; and

WHEREAS, Oceanic Exploration Company and Oceanic International Properties
Corporation are Associated Companies that have previously adopted the Plan.

NOW, THEREFORE, BE IT RESOLVED THAT Oceanic Exploration Company, on its own
behalf and on behalf of its subsidiary, Oceanic International Properties
Corporation (the two companies shall collectively be referred to as "Adopting
Employer"), hereby ratifies its prior adoption of the Plan, with such
ratification effective as of January 1, 2001, for the benefit of its Eligible
Employees.

RESOLVED FURTHER THAT Adopting Employer agrees to be bound by such terms and
conditions relating to the Plan as the Sponsoring Employer may reasonably
require.

RESOLVED FURTHER THAT Adopting Employer agrees to comply with all qualification
requirements and employee benefit rules of the Code, ERISA and related
regulations and hereby acknowledges the authority of the Sponsoring Employer to
review Adopting Employer's compliance procedures and to require changes in such
procedures to protect the Plan's qualification.

RESOLVED FURTHER THAT Adopting Employer acknowledges that it has assumed all
obligations and liabilities of an Employer under the Plan, and that it will
cooperate with the Sponsoring Employer and Plan officials by providing such
information and taking such other actions as they deem appropriate for the
efficient administration of the Plan and the Trust Fund.

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RESOLVED FURTHER THAT Adopting Employer acknowledges that its status as an
Employer under the Plan is expressly conditioned on its being and continuing to
be an Associated Company of the Sponsoring Employer.

RESOLVED FURTHER THAT this restated adoption agreement shall supercede any prior
adoption agreement executed by Adopting Employer and the Sponsoring Employer.

RESOLVED FURTHER THAT the following provisions shall apply to the Adopting
Employer's Eligible Employees to the extent such provisions differ from those of
the Plan:

1.       Section 2.1:

         (b)      "AFFILIATE" means any business entity which is controlled by
                  or under common control with Oceanic, within the meaning of
                  Code sections 414 and 1563. The determination of control shall
                  be made without reference to paragraphs (a)(4) and (e)(3)(C)
                  of Code section 1563, and solely for the purposes of applying
                  the limitations of Articles 6 and 13, the phrase "more than 50
                  percent" shall be substituted for the phrase "at least 80
                  percent" each place it appears in Code section 1563(a)(1).

                  In addition, to the extent required by Code section 414 and
                  related regulations, Affiliate means--

                  (1)      any member of an affiliated service group (within the
                           meaning of Code section 414(m)) of which Oceanic or
                           any Affiliate is a member; and

                  (2)      any entity which, pursuant to Code section 414(o) and
                           the regulations thereunder, must be aggregated with
                           Oceanic or any other Affiliate for plan qualification
                           purposes.

2.       Section 2.1:

         (g)      "BREAK IN SERVICE" means, solely with respect to Employees of
                  Oceanic and its Affiliates, any year used in measuring Years
                  of Service in which an Employee is not credited with more than
                  500 Hours of Service. However, if an Employee is absent from
                  employment due to pregnancy, birth of the Employee's child,
                  adoption of a child by the Employee, or child care immediately
                  following such birth or adoption, any Hour of Service for
                  which the Employee would have received credit (or if not
                  determinable, eight hours for each day of absence) during such
                  absence, up to a maximum of 501 Hours of Service, shall be
                  credited to the Employee solely to prevent the Employee from
                  incurring a Break in Service. Any such Hours of Service shall
                  be credited for the Plan Year in which the absence begins if
                  necessary to prevent a Break in Service during that Plan Year
                  and, in all other cases, in the immediately following Plan
                  Year.

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3.       Section 2.1:

         (m)      "ELIGIBLE EMPLOYEE" means, solely with respect to Employees of
                  Oceanic and its Affiliates, any Employee except--

                  (1)      any Employee who is included in a unit of Employees
                           covered by a collective bargaining agreement, if
                           there is evidence that retirement benefits were the
                           subject of good faith bargaining, unless such
                           agreement provides for participation of those
                           Employees in this Plan;

                  (2)      any Employee who is a nonresident alien and who
                           receives no earned income from Oceanic or any of its
                           Affiliates which constitutes income from sources
                           within the United States;

                  (3)      any Employee who is a leased employee, within the
                           meaning of Code section 414(n)(2); and

                  (3)      effective from April 1, 2000 through December 31,
                           2001, any employee of the Alliance Staffing Division
                           of Oceanic.

4.       Section 2.1:

         (s)      "HOUR OF SERVICE" means, solely with respect to Employees of
                  Oceanic and its Affiliates--

                  (1)      each hour for which the Employee is paid or entitled
                           to payment for the performance of duties.

                  (2)      each hour for which the Employee is paid or entitled
                           to payment on account of a period of time during
                           which no duties are performed (irrespective of
                           whether the employment relationship has terminated)
                           due to vacation, holiday, illness, incapacity
                           (including disability), layoff, jury duty, or leave
                           of absence. No more than 501 Hours of Service shall
                           be credited to an Employee on account of any single
                           continuous period during which the Employee performs
                           no duties.

                  (3)      each hour for which back pay (irrespective of
                           mitigation of damages) is either awarded or agreed
                           to, with no duplication of credit for hours under
                           paragraph (1) or (2) and this paragraph (3).

                  (4)      each hour credited pursuant to applicable ERISA
                           regulations for unpaid periods of absence for service
                           in the United States armed forces or Public Health
                           Service during which the Employee's reemployment
                           rights are guaranteed by law, provided that the
                           Employee is reemployed as an Employee within the time
                           limits prescribed by such law.

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               For any period that includes any hours for which an Hour of
               Service would otherwise be credited to an Employee above, the
               Benefits Committee may, in accordance with rules applied in a
               uniform and nondiscriminatory manner, elect instead to credit
               Hours of Service using one or more of the following equivalences:

               <Table>
               <Caption>
               BASIS UPON WHICH                           CREDIT GRANTED TO
               RECORDS ARE MAINTAINED                     INDIVIDUAL FOR PERIOD
               ------------------------------------------ ----------------------------

<S>                                                       <C>
               Shift                                      Actual hours for full shift
               Day                                        10 Hours of Service
               Week                                       45 Hours of Service
               Semi-monthly period                        95 Hours of Service
               Month                                      190 Hours of Service
               ------------------------------------------ ----------------------------
</Table>

                  Anything to the contrary in this Section 2.1(s)
                  notwithstanding--

                  (A)      No Hours of Service shall be credited to an Employee
                           for any period merely because, during such period,
                           payments are made or due him under a plan maintained
                           solely for the purpose of complying with applicable
                           workers' compensation, unemployment compensation, or
                           disability insurance laws.

                  (B)      No Hours of Service shall be credited to an Employee
                           with respect to payments solely to reimburse for
                           medical or medically related expenses.

                  (C)      No Hours of Service shall be credited twice.

                  (D)      Hours of Service shall be credited at least as
                           liberally as required by the rules set forth in U.S.
                           Department of Labor Regulation section 2530.200b-2(b)
                           and (c).

                  (E)      In the case of an Employee who is such solely by
                           reason of service as a leased employee within the
                           meaning of section 414(n) or 414(o) of the Code,
                           Hours of Service shall be credited as if such
                           Employee were employed and paid with respect to such
                           service (or with respect to any related absences or
                           entitlements) by Oceanic or any of its Affiliates
                           that is the recipient thereof.

5.       Section 2.1:

         (ee)     "YEAR OF SERVICE" means, solely with respect to Oceanic and
                  its Affiliates, a period of 12 consecutive months during which
                  the Employee completes at least

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                  1,000 Hours of Service, where the first such period is
                  measured from the date on which the Employee first performs an
                  Hour of Service after being hired or after being rehired after
                  a Break in Service, and each subsequent period is the Plan
                  Year, beginning with the Plan Year that commences with or
                  within the first period.

                  Effective April 1, 2000, in no event shall an Employee's
                  employment service with Alliance Staffing Associates, Inc. or
                  Alliance Services Associates, Inc. be considered for
                  determining Years of Service hereunder.

                  Notwithstanding any Plan provision to the contrary, in no
                  event shall an Employee's Years of Service on or after January
                  1, 2002 be less than such Employee's Years of Service credited
                  to him on December 31, 2001 under the Plan as in effect on
                  that date.

                  Furthermore, in the case of an Employee who transfers to
                  Oceanic or one of Oceanic's Affiliates from the Company or one
                  of the Company's Affiliates, the Employee shall be credited,
                  in the Plan Year that includes the date of transfer, with 190
                  Hours of Service for each month prior to the date of transfer
                  that the Employee was required to be credited with at least
                  one Hour of Service under 29 CFR section 2530.200b-2.

6.       Section 2.1:

         (ff)     "OCEANIC" means Oceanic Exploration Company or its successor
                  in interest.

7.       Section 3.1:

         3.1 DATE OF PARTICIPATION

         Every Employee of Oceanic or one of its Affiliates who was an Eligible
         Employee and a Participant on December 31, 2001, and continues to be an
         Eligible Employee shall continue to be a Participant thereafter. On and
         after January 1, 2002, every other Eligible Employee of Oceanic or one
         of its Affiliates shall become a Participant in the Plan on the first
         January 1 or July 1 Plan entry date that coincides with or next follows
         the date he or she has attained age 21, has completed one Year of
         Service, and has become an Eligible Employee.

8.       The second paragraph of Section 5.1:

         Solely with respect to Participants who are employed by Oceanic or one
         of its Affiliates, a Participant shall be eligible for an Employer
         Contribution for a Plan Year under this section if the Participant has
         completed at least 1,000 Hours of Service during the Plan Year, and has
         satisfied one of the following conditions:

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         (a)      the Participant is an Employee of Oceanic or one of its
                  Affiliates on the last day of the Plan Year;

         (b)      the Participant retired during the Plan Year after attaining
                  his or her Normal Retirement Age;

         (c)      the Participant died while still an Employee of Oceanic or one
                  of its Affiliates during the Plan Year; or

         (d)      the Participant incurred a Disability while still an Employee
                  of Oceanic or one of its Affiliates during the Plan Year.

         For purposes of determining whether an Employee who has transferred
         employment to Oceanic or one of Oceanic's Affiliates from the Company
         or one of the Company's Affiliates has completed 1,000 Hours of Service
         in the Plan Year, which includes the date of transfer, the Employee
         shall be credited for such Plan Year with 190 Hours of Service for each
         month prior to the date of transfer that the Employee was required to
         be credited with at least one Hour of Service under 29 CFR section
         2530.200b-2.

                               * * * * * * * * * *

IN WITNESS WHEREOF, Adopting Employer and the Sponsoring Employer have caused
this restated adoption agreement to be executed by their authorized
representatives.

                                    ADOPTING EMPLOYER

Date   6 December 2001              By   /s/ Charles N. Haas
       ---------------                   ---------------------------------------

                                    Its   President
                                          --------------------------------------

                                    On behalf of Cordillera Corporation, the
                                    Benefits Committee, which is responsible for
                                    the proper administration of the
                                    above-referenced Plan, hereby consents to
                                    the above adoption and states that no
                                    further instrument of adoption is required.

Date December 7, 2001               By   /s/ John E. Jones
     ----------------                    ---------------------------------------
                                         Member of the Benefits Committee

                                       6<PAGE>
                                                                   EXHIBIT 10.24

                            SERVICE AGREEMENT BETWEEN

                           OCEANIC EXPLORATION COMPANY

                                       AND

                             CORDILLERA CORPORATION

THIS AGREEMENT, made as of the 1st day of September 2002, between Oceanic
Exploration Company, a corporation with offices at 7800 East Dorado Place, Suite
250, Englewood, Colorado 80111 ("Oceanic"), and Cordillera Corporation, a
corporation with offices at 7800 East Dorado Place, Suite 250, Englewood,
Colorado 80111 ("Cordillera").

                                    RECITALS

WHEREAS, Oceanic wishes Cordillera to provide it with management services in
support of Oceanic efforts regarding the East Timor Project, and Cordillera is
willing to provide such services; and

NOW THEREFORE, in consideration of the promises, mutual covenants and agreements
herein contained the parties hereto agree as follows:

                          ARTICLE 1, STATEMENT OF WORK

Cordillera shall provide Oceanic with the management support services of Mr.
Karsten Blue.

                        ARTICLE 2, PERIOD OF PERFORMANCE

This Agreement shall continue from year to year except that either party may
terminate this Agreement at any time by giving not less than 30 days written
notice to the other party. On termination, each party shall be released from all
obligations accruing under the Agreement from and after the termination date but
Oceanic shall remain obligated for all direct charges incurred by Cordillera
prior to said date, whether or not known, asserted or invoiced prior to said
date.

                      ARTICLE 3, CONSIDERATION AND PAYMENT

For the performance of services described in Article 1, Oceanic shall compensate
and reimburse Cordillera as follows:

         a.       The fee will be paid at the fixed rate of $1,250 per week, not
                  to exceed $65,000 per year. This payment will be due and
                  payable on the last day of each month. If payment is not made
                  by the fifteenth day of the following month, the unpaid
                  balance shall bear interest monthly at the rate of 10% per
                  annum.

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         b.       Oceanic will reimburse Cordillera for all Oceanic approved
                  out-of-pocket business expenses incurred by Mr. Karsten Blue
                  on behalf of Oceanic. These reimbursements will be due and
                  payable upon receipt of invoice from Cordillera to Oceanic.

                          ARTICLE 4, STATUS OF EMPLOYER

It is understood and agreed that Karsten Blue shall be and remain the employee
of Cordillera, and the compensation and benefits to be paid to him shall be
determined by Cordillera.

                               ARTICLE 5, NOTICES

All notices required or permitted by this Agreement shall be in writing and
shall be deemed to have been delivered to the other party when delivered in
person or transmitted by mail, postage and charges prepaid, addressed to
Cordillera at the address set out above, or by facsimile.

                               ARTICLE 6, GENERAL

         a.       This Agreement shall be governed by the laws of the State of
                  Colorado, United States of America.

         b.       The provisions hereof inure to the benefit of and are binding
                  upon the successors in interest of each party.

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

OCEANIC EXPLORATION COMPANY             CORDILLERA CORPORATION

/s/ Charles N. Haas                     /s/ John E. Jones
--------------------------------        ---------------------------------------
Charles N. Haas                         John E. Jones
President                               Executive Vice President

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