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Prepared by MERRILL CORPORATION

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EXHIBIT 10.12    
  

 
 

DAVID V. CREEL EMPLOYMENT AGREEMENT
  DATED APRIL 28, 1998    
  

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EMPLOYMENT AGREEMENT    
  

    This Employment Agreement is dated April 28, 1998 but is effective as June 1, 1998 (the "Effective Date"), between GeoPetro Resources Company
("Company") and David V. Creel ("Employee"). 

    1.  Employee
has special skills and abilities and an extensive background in and knowledge of the exploration aspect of the Company's business and the oil and gas
industry. 

    2.  Company
desires assurance of the association and services of Employee in order to retain his experience, skills, abilities, background, knowledge, relationships and
contacts and is therefore willing to engage his services on the terms and conditions set forth below. 

    3.  Employee
desires to become employed by the Company and is willing to do so on the terms and conditions set forth below. 

    NOW,
THEREFORE, in consideration of the mutual promises and conditions in this agreement, it is agreed as follows: 

    1.  Employment.  Company shall employ Employee as Vice President of Exploration of the Company. 

    2.  Duties and Authority.  Until the date of termination of employment hereunder, Company shall continue
to employ Employee as its Vice President of Exploration, with such duties and obligations consistent with such position as are specified by the President of the Company from time to time. Employee
shall report to the President of the Company. 

    3.  Outside Activities.  During his employment, Employee shall devote his full energies, interest,
abilities, and productive time to the performance of this agreement and shall not, without Company's prior written consent, render to others services of any kind for compensation, or engage in any
other business activity that would materially interfere with the performance of his duties under this agreement. 

    4.  Covenant Not to Compete.  During the employment term, Employee shall not, directly or indirectly,
whether as a partner, employee, creditor, shareholder (other than as a shareholder owning less than five percent (5%) of a publicly traded company), or otherwise, promote, participate, or engage in
any activity or other business competitive with Company's business. 

    5.  Term.  Subject to earlier termination as provided in this agreement, Employee shall be employed for a
two-year term commencing on the Effective Date (the "Term"). Thereafter, the Agreement shall renew automatically for a series of successive one month periods at a salary to be negotiated;
provided, however, that the Agreement may be terminated by either party either (i) upon six months' notice prior to the end of the Term, in which case the Agreement shall terminate upon the
termination of the Term, or (ii) upon notice given on or prior to the first day of any calendar month following the termination of the Term, in which case the Agreement shall be terminated upon
expiration of such month. 

    6.  Salary.  Commencing on the Effective Date, the Company shall pay a basic salary to Employee at the
rate of Ninety-Six Thousand Dollars ($96,000) per year, payable in equal monthly installments (the "Basic Salary") in accordance with the Company's standard payroll practices. The Employee
agrees that such salary shall not be increased during the term of this Agreement. 

    7.  Options.  As a long term incentive, Company shall grant to Employee non-qualified options
(the "Options") to acquire One Hundred Thousand (100,000) shares of Common Stock. Such options shall have an exercise price equal to Two Dollars ($2.00) per share of the Common Stock. The Options
shall vest on a cumulative basis at a rate of 20% per annum with the first 20% vesting on the first anniversary of the Effective Date and an additional 20% vesting on the four anniversaries thereafter 

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(each "Vesting Date"), provided that the Options shall not vest on the Vesting Dates if Employee is not employed by the Company on such date. The terms of the Options shall be specified in an Option
Agreement between the Company and Employee. 

    8.  Additional Benefits.  During the employment Term, Company shall furnish to Employee at the Company's
expense a parking space at or near the Company's offices. In addition the Company shall pay one-half the actual costs incurred by Employee in moving his family's household effects to the
San Francisco Bay Area. Employee shall be eligible for three (3) weeks annual vacation. It is expressly agreed that Employee shall be responsible for securing and paying for his own insurance,
including health, disability and life and any other type of insurance that Employee may desire. 

    9.  Termination Prior to Expiration of Term and Effects of Such Termination.  

    (a) Notwithstanding
any other provision of this agreement, Company shall have the right to terminate Employee's employment under this agreement at any time prior to the
expiration of the Term for any of the following reasons: 

    (i)  For
"cause" upon the good faith determination by the Company's President that "cause" exists for the termination of the employment relationship. "Cause" shall mean
termination by action of Company's President because of Employee's (A) final conviction of a felony or a misdemeanor involving moral turpitude (which, through lapse of time or otherwise, is not
subject to appeal); (B) willful refusal without proper legal cause to perform Employee's duties and responsibilities; or (C) willfully engaging in conduct which Employee has or should
have reason to know may be materially injurious to Company. In case of (C), such termination shall be effected by at least thirty (30) days' prior written notice thereof delivered by Company to
Employee; provided, however, that if within seven (7) days following the date of such notice, Employee shall cease to engage in such conduct and shall use Employee's best efforts to perform his
duties and responsibilities hereunder, then the termination shall not be effective; 

    (ii) For
any other reason whatsoever, with or without cause, in the sole discretion of the President of the Company; 

    (iii) Upon
Employee's death; or 

    (iv) Upon
Employee's becoming incapacitated by accident, sickness, or other circumstance which renders him mentally or physically incapable of performing at a level of
at least 80% the duties and services required of Employee. 

The
termination of Employee's employment by Company prior to the expiration of the Term shall constitute a "Termination for Cause" if made pursuant to Section 9(a)(i); the effect of such
termination is specified in Section 9(c). The termination of Employee's employment by Company prior to the expiration of the Term shall constitute an "Involuntary Termination" if made pursuant
to Section 9(a)(ii); the effect of such termination is specified in Section 9(d). The effect of the employment relationship being terminated pursuant to
Section 9(a)(iii) as a result of Employee's death is specified in Section 9(e). The effect of the employment relationship being terminated pursuant to
Section 9(a)(iv) as a result of the Employee becoming incapacitated is specified in Section 9(f). 

    (b) Notwithstanding
any other provisions of this agreement, Employee shall have the right to terminate the employment relationship under this agreement at any time
prior to the expiration of the Term of employment upon a material breach by Company of any material provision of this agreement which remains uncorrected for thirty (30) days following written
notice of such breach by Employee to Company. The termination of Employee's employment by Employee prior to the expiration of the Term shall constitute an "Involuntary Termination" if made pursuant to
Section 9(b); the effect of such termination is specified in Section 9(d). 

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    (c) If Employee's employment hereunder shall be terminated by Company for Cause prior to expiration of the Term, Employee shall be entitled to receive his pro rata
Basic Salary through the date of termination. Employee may, at his option, exercise any vested stock options within 30 days of termination, and thereafter such options shall be terminated. All
unvested options shall be forfeited. 

    (d) Upon
an Involuntary Termination of the employment relationship by either Company or Employee prior to expiration of the Term, Employee shall be entitled to receive
Employee's Basic Salary for the remainder of the Term paid out over the remainder of the Term consistent with the Company's standard payroll practices for currently employed employees. In addition,
all of Employee's unvested options shall become immediately vested and exercisable. Employee's rights under this section 9(d) are Employee's sole and exclusive rights against Company, or its
affiliates, and Company's sole and exclusive liability to Employee under this agreement, in contract, tort or otherwise, for any Involuntary Termination of the employment relationship. Employee
covenants not to sue or lodge any claim, demand or cause of action against Company for any sums for Involuntary Termination other than those sums specified in this Section 9. If Employee
breaches this covenant, Company shall be entitled to recover from Employee all sums expended by Company (including costs and attorneys' fees) in connection with such suit, claim, demand or cause of
action. 

    (e) Upon
termination of the employment relationship as a result of Employee's death, Employee's heirs, administrators, or legatees shall be entitled to Employee's pro
rata Basic Salary through the date of such termination. All unvested options shall be forfeited, and vested options may be exercised by the Employee's representative at any time within 180 days
of Employee's death 

    (f)  Upon
termination of the employment relationship as a result of Employee's incapacity, Employee shall be entitled to his pro rata Basic Salary through the date of
termination. All unvested options shall be forfeited, and vested options may be exercised by the Employee's representative at any time within 180 days of Employee's death. 

    (g) Termination
of the employment relationship does not terminate those obligations imposed by this agreement which are continuing obligations. 

    10.  Arbitration.  Any controversy or claim arising out of or relating to this agreement, or breach of
this agreement, shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgment on the award rendered by the arbitrators may
be entered in any court having jurisdiction. There shall be a single arbitrator chosen by mutual agreement of the parties, or in the absence of an agreement, by a judge in the Superior Court of San
Francisco County. Each party shall pay all fees and expenses of his own attorneys, and the expenses of his witnesses and all other expenses connected with presenting his case. Other costs of the
arbitration, including the cost of any record or transcripts of the arbitration, administration fees, the fee of the arbitrator, and all other fees and costs, shall be borne equally by the parties. 

    11.  Choice of Law.  The formation, construction, and performance of this agreement shall be construed in
accordance with the laws of California. 

    12.  Notices.  Any notice to Company required or permitted under this agreement shall be given in writing
to Company, either by personal service or by registered or certified mail, postage prepaid, at its then principal place of business. Any such notice to Employee shall be given in like manner and, if
mailed, shall be addressed to Employer at his home address then shown in Company's files. For the purpose of determining compliance with any time limit on this agreement, a notice shall be deemed to
have been duly given (a) on the date of service, if served personally on the party to whom notice is to 

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be given, or (b) on the second business day after mailing, if mailed to the party to whom the notice is to be given in the manner provided in this section. 

    13.  Severability.  If any provision of this agreement is held invalid or unenforceable, the remainder of
this agreement shall nevertheless remain in full force and effect. If any provision is held invalid or unenforceable with respect to particular circumstances, it shall nevertheless remain in full
force and effect in all other circumstances. 

    14. Executed
by the parties as of the day and year first above written. 

	GEOPETRO RESOURCES COMPANY	 	 
	

By:	
 	

"S. J. Doshi"
	
 	

  

	Its:	 	President
	 	David V. Creel

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EXHIBIT 10.12

DAVID V. CREEL EMPLOYMENT AGREEMENT DATED APRIL 28, 1998

EMPLOYMENT AGREEMENTPrepared by MERRILL CORPORATION

Exhibit 10.13  

EMPLOYMENT AGREEMENT  

    THIS EMPLOYMENT AGREEMENT (the "Agreement") is entered into effective as of June 19, 2000, by and
between Geo Petro Resources Company, a California corporation located at One Maritime Plaza, Suite 400, San Francisco, California 94111, together with its successors and assigns permitted under this
Agreement (hereinafter the "Company") and J. Chris Steinhauser, an individual and resident of the State of California (hereinafter "Employee") located at 26 Moonlight, Irvine, California 92612. 

    WHEREAS, Employee desires to become employed by the Company on a full-time basis as its Chief Financial Officer and Vice
President of Finance; and 

    WHEREAS, the Company and Employee desire to enter into an agreement to provide for Employee's employment by the Company, upon the terms
and conditions set forth herein: 

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

    1.  Employment.  The Company agrees to employ Employee, and Employee accepts such
employment and agrees to perform his duties and responsibilities in accordance with the terms and conditions hereinafter set forth. 

    1.1  Employment Term.  The terms of Employee's employment under this Agreement
shall commence as of June 19, 2000 (the "Effective Date") and shall continue until two (2) years after the Effective Date (the "Termination Date"), unless earlier terminated in
accordance with Section 3 hereafter. The period commencing as of the Effective Date and ending on the Termination Date is hereinafter referred to as the "Employment Term". 

    1.2  Duties and Responsibilities.  During the Employment Term, Employee shall
serve as Chief Financial Officer of the Company or shall serve in such other capacity as appointed by the President of the
Company (the "President"), and shall report to the President. During the Employment Term, Employee agrees to perform all employment duties and responsibilities that shall be assigned and required by
the President or such other duties and responsibilities in such other capacity as the President shall assign to him from time to time. 

    1.3  Outside Activities.  During his employment, Employee shall devote his full
energies, interest, abilities, and productive time to the performance of this Agreement and shall not, without the Company's prior written consent, render to others services of any kind for
compensation, or engage in any other activity (with or without compensation) that would interfere with the performance of his duties under this Agreement. 

    1.4  Covenant Not to Compete.  During the Employment Term, Employee shall not,
directly or indirectly, whether as a partner, employee, creditor, shareholder (other than as a shareholder owning less than five percent (5%) of a publicly traded company), or otherwise, promote,
participate, or engage in any activity or other business that directly competes with the Company's business. 

    1.5  Base Salary.  For all the services rendered by Employee hereunder, the
Company shall pay Employee a base salary (the "Base Salary") at the annual rate of $108,000. Employee's Base Salary shall be payable in installments at such times as the Company customarily pays its
other employees. 

    1.6  Bonus.  At the Effective Date, Employee shall receive a cash bonus of
$10,000. Employee shall receive an additional $10,000 bonus upon the successful completion of the first merger between the Company and another entity, and an additional $10,000 bonus upon the
effectiveness of the Company's registration statement under the Securities Exchange Act of 1934 or the Securities Act of 1933. Employee also may be eligible to receive a discretionary bonus each 

 

year during the Employment Term ("Annual Bonus"), which, if any, shall be earned based on criteria established by the President from time to time and shall be paid in the sole discretion of the
President either in cash or equity in the Company. Employee's Annual Bonus, if any, shall be paid to him in accordance with the Company's generally payroll practices with regard to bonuses of such
type. 

    1.7  Warrant Compensation.  Upon execution of this Agreement, the Company shall
issue 250,000 warrants, subject to vesting requirements as set forth, to Employee entitling Employee to purchase non-callable no par voting common stock of the Company. Each warrant shall
entitle the holder thereof to purchase one share of common stock as follows: 

	Term
 
	 	Exercise

Price

per Share
	 	# of Shares

Underlying

Warrants
	 	Vesting*

	5 years	 	$	2.00	 	30,000	 	Immediately
	5 years	 	$	2.00	 	30,000	 	One Year
	5 years	 	$	2.00	 	30,000	 	Two Years
	5 years	 	$	2.00	 	30,000	 	Three Years
	5 years	 	$	2.00	 	30,000	 	Four Years
	 	 	 	 	 	
	 	 
	 	 	 	 	 	150,000	 	 
	 	 	 	 	 	
	 	 

	Term
 
	 	Exercise

Price

per Share
	 	# of Shares

Underlying

Warrants
	 	Vesting*

	5 years	 	$	3.00	 	6,666	 	Immediately
	5 years	 	$	3.00	 	6,666	 	One Year
	5 years	 	$	3.00	 	6,666	 	Two Years
	5 years	 	$	3.00	 	6,666	 	Three Years
	5 years	 	$	3.00	 	6,669	 	Four Years
	 	 	 	 	 	
	 	 
	 	 	 	 	 	33,333	 	 
	 	 	 	 	 	
	 	 

	Term
 
	 	Exercise

Price

per Share
	 	# of Shares

Underlying

Warrants
	 	Vesting*

	5 years	 	$	4.00	 	6,666	 	Immediately
	5 years	 	$	4.00	 	6,666	 	One Year
	5 years	 	$	4.00	 	6,666	 	Two Years
	5 years	 	$	4.00	 	6,666	 	Three Years
	5 years	 	$	4.00	 	6,669	 	Four Years
	 	 	 	 	 	
	 	 
	 	 	 	 	 	33,333	 	 
	 	 	 	 	 	
	 	 

	*
	Length
of time after the effective date. 

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	Term
 
	 	Exercise

Price

per Share
	 	# of Shares

Underlying

Warrants
	 	Vesting*

	5 years	 	$	5.00	 	5,555	 	Immediately
	5 years	 	$	5.00	 	5,555	 	One Year
	5 years	 	$	5.00	 	5,555	 	Two Years
	5 years	 	$	5.00	 	5,555	 	Three Years
	5 years	 	$	5.00	 	5,559	 	Four Years
	 	 	 	 	 	
	 	 
	 	 	 	 	 	33,334	 	 
	 	 	 	 	 	
	 	 
	
TOTAL WARRANTS	
 	
250,000	
 	

 
	 	 	 	 	 	
	 	 

	*
	Length
of time after the effective date. 

    Subject
to the vesting provisions above, the warrants may be exercised from the Effective Date until 11:59 p.m. (San Francisco time) on the date that is five years after the
date of this Agreement. Each
warrant not exercised on or before the expiration date shall expire. The no par voting common shares issued pursuant to the warrant exercises shall be identical in all respects to the currently
outstanding no par common of the Company. The Company shall include the shares of common stock reserved for issuance under the above-described warrants in any registration statement it files during
the Employment Term, subject to any limitations imposed by an underwriter on the amount of such shares that can be included in such registration, and Employee shall be subject to all
lock-ups (restricting his resale rights) imposed by the underwriter on the Company's other management shareholders. 

    Employee
shall also be entitled to participate annually in any incentive stock option plan ("Plan") adopted by the Company and in effect during the year(s) Employee is employed by the
Company. Compensation received as a result of participation in a Plan adopted by the Company shall be referred to as the "Incentive Compensation." Incentive Compensation shall be determined at the
sole discretion of the President. 

    1.8  Benefit Coverages.  During the Employment Term, Employee shall be entitled
to participate in all employee pension and welfare (medical and dental) benefit plans and programs made available to the Company's employees generally, as such plans or programs may be in effect from
time to time (the "Benefit Coverages"). Employee shall be entitled to three weeks paid vacation per year. In addition, Employee shall be entitled to holidays and sick days in accordance with the
Company's policies and procedures. 

    2.  Indemnification; Insurance.  The Company shall indemnify Employee to the
fullest extent permitted under the Company's Articles of Incorporation and Bylaws and allowed under applicable law. Employee shall be covered by the Company's officer and director liability insurance
policy in effect at the time of any claim. The Company agrees to maintain an officer and director liability insurance policy in effect during the term of this Agreement which provides an aggregate
limit of at least $3,000,000 and a deductible of not more than $100,000. 

    3.  Termination.  The Employment Term shall terminate upon the occurrence of any
one of the following events: 

    3.1  Disability.  The Employment Term shall terminate if: (1) Employee is
unable to perform the essential functions of his job including any of his duties and responsibilities by reason of illness, injury or incapacity for three (3) consecutive months, or for more
than six (6) months in the aggregate during any period of eighteen (18) calendar months; and (2) the Company is unable to reasonably accommodate the Employee's disability.
Employee agrees, in the event of a dispute 

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concerning any disability, to submit to a physical examination by a licensed physician and/or other professional evaluator(s) selected by the Company. If the Employment Term is terminated as a result
of
disability, Employee shall be entitled to the continued right to exercise any stock warrants granted to Employee hereunder which have vested as of the date of termination, but all unvested warrants
shall be terminated and canceled. For avoidance of doubt, Employee acknowledges that he shall not be entitled to receive any Base Salary or portion of an Annual Bonus while he is unable to perform his
job duties (other than accrued sick leave and vacation) during such period of time prior to a determination of whether or not Employee is disabled. 

    3.2  Death.  The Employment Term shall terminate upon Employee's death. In such
event, the Company shall pay to Employee's executors, legal representatives, or administrators, as applicable, an amount equal to the installment of Employee's Base Salary through the date of
Employee's death. In addition, Employee's estate shall be entitled to: (i) any other amounts earned, accrued or owing but not yet paid under Section 1.8 above; and (ii) the
continued right to exercise any vested stock warrant granted to Employee hereunder for the remaining term of the warrant, however, all unvested warrants as of the date of death shall be terminated and
canceled. 

    The
Company shall have no liability or obligation under this Agreement to Employee's executors, legal representatives, administrators, heirs or assigns, or any other person claims
under or through Employee except as specifically provided in this Agreement. 

    3.3  Cause.  The Company may terminate the Employment Term at any time for
"cause." Upon such termination, all payments to the Employee required by this Agreement shall immediately cease, except for unpaid Base Salary to the extent already accrued and benefits accrued,
earned, or owing but not yet paid under Section 1.8 above. For purposes of this Agreement, the term "cause" shall be: (a) any felonious conduct by Employee; (b) fraud, dishonesty
or similar conduct by Employee in connection with the Company; (c) any embezzlement or misappropriation of funds or property of Company by Employee; (d) a material breach by Employee of
the terms of his employment (which for purposes of this Agreement shall include, without limitation, Executive's engaging in any transaction that represents, directly or indirectly,
self-dealing with the Company or any of its affiliates that has not been approved by the President, as well as Employee's failure to perform assigned duties as required under this
Agreement), if in any such case such material breach remains uncured after 15 days (or the minimum number of days required to cure such breach if greater than 15) have elapsed following
the date that the Company gave Executive written notice of that breach. In the event that Employee is able to cure, this Agreement shall continue in full force and effect. In the event of for "cause"
termination all warrants issued by the Company to Employee which are unvested as of the date of termination shall be terminated and canceled; provided, however, Employee shall retain all warrants
which are vested as of such date. Upon Employee's termination "for cause," Employee shall only be entitled to receive: (i) his Base Salary through the date the termination occurs; and
(ii) any benefits earned, accrued or owing but not yet paid under Section 1.8 above, but Employee shall not be entitled to any portion of an Annual Bonus for the year of termination. 

    3.4  Severance.  Company shall have the right to terminate Employee "without
cause" upon the payment of the "Severance Benefits." Severance Benefits shall mean, for purposes of this Agreement, the payment of the following: 

    (a) cash
payments equal to the lesser of (i) three months Base Salary or (ii) Base Salary through the remainder of the Employment Term, payable at such
times as the Company's customary payroll policy; 

    (b) in
the event of termination "without cause," Employee may retain all warrants issued pursuant to this Agreement, whether or not vested as of such date. 

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    4.  Survivorship.  The respective rights and obligations of the parties as
provided for in this Agreement shall survive any termination of the Employee's employment to the extent necessary to preserve such rights and obligations. 

    5.  Other Provisions.  

    (a) The
Company agrees to grant time off for and reimburse Employee for attending up to 40 hours of continuing education classes per year. Employee agrees that
such continuing education shall be SEC and financial reporting related. 

    (b) The
Company shall reimburse Employee for 50% of actual and reasonable cost of moving household effects (excluding costs relating to the sale or subletting of a
residence) to the San Francisco Bay Area, and for the actual and reasonable cost of two house-hunting trips to the San Francisco Bay Area. 

    6.  Notices.  Any notice required to be given hereunder shall be delivered
personally or shall be sent by certified United States mail, postage prepaid, return receipt requested, by overnight courier, or by facsimile, to the respective parties at the addresses set forth in
this Agreement. 

    7.  Employee's Representations.  Employee hereby represents and warrants to the
Company that he (a) is not now under any contractual or statutory obligation that is materially inconsistent or in conflict with this Agreement or that would prevent, limit, or impair
Employee's performance of his obligations under this Agreement; (b) has been represented by legal counsel in preparing, negotiating, executing, and delivering this Agreement; and
(c) fully understands its terms and provisions. 

    8.  Contents of Agreement; Amendment and Assignment.  

    (a) This
Agreement sets forth the entire understanding between the parties hereto with respect to the subject matter hereof and cannot be changed, modified, extended or
terminated except upon written amendment approved by the President and executed on its behalf by a duly authorized officer. 

    (b) All
of the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective heirs, executors,
administrators, legal representatives, successors and assigns of the parties hereto, except that the duties and responsibilities of Employee hereunder are of a personal nature and shall not be
assignable or delegable in whole or in part by Employee. 

    9.  Severability.  If any provision of this Agreement or applicable thereof to
anyone or under any circumstances is adjudicated to be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application of this
Agreement which can be given effect without the invalid or unenforceable provision or application and shall not invalidate or render unenforceable such provision or application in any other
jurisdiction. If any provision is held void, invalid or unenforceable with respect to particular circumstances, it shall nevertheless remain in full force and effect in all other circumstances. 

    10.  No Waiver.  No delay or omission by a party in exercising any right, remedy
or power hereunder or existing at law or in equity shall be construed as a waiver thereof, and any such right, remedy or power may be exercised by such party from time to time and as often as may be
deemed expedient or necessary by such party in its sole discretion. 

    11.  Miscellaneous.  All section headings used in this Agreement are for
convenience only. This Agreement may be executed in counterparts, each of which is an original. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or
account for any of the other counterparts. 

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    12.  Governing Law.  This Agreement shall be governed by and interpreted under
the law of the State of California without reference to any choice or conflict of laws provisions. 

    13.  Entire Agreement.  This Agreement constitutes the final, complete, and
exclusive embodiment of the entire agreement and understanding between the parties related to the subject matter of this Agreement and supersedes and preempts any prior or contemporaneous
understandings, agreements, or representations by or between the parties, written or oral. 

    IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of the date first above written. 

	 	 	COMPANY:
	

 	
 	
GEO PETRO RESOURCES COMPANY,

a California corporation
	

Dated: June 19, 2000	
 	

By:	
 	

  
 Stuart Doshi
	 	 	Its:	 	President
	

 	
 	
EMPLOYEE:
	

Dated: June 19, 2000	
 	

By:	
 	

  
 J. Chris Steinhauser

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