Document:

Exhibit 10.65

Exhibit 10.65

FIFTH AMENDMENT TO

LOAN AGREEMENT

This FIFTH AMENDMENT TO LOAN AGREEMENT dated as of March 31, 2009 (this “Fifth Amendment”), is
between RZB FINANCE LLC (the “Lender”) and Rio Vista Energy Partners L.P. (the “Borrower”).

W I T N E S S E T H:

WHEREAS, Lender and the Borrower are parties to a Loan Agreement dated as of July 26, 2007 (as
amended, supplemented or otherwise modified from time to time, the “Loan Agreement”; capitalized
terms used herein having the meanings ascribed thereto in the Loan Agreement unless otherwise
defined herein); and

WHEREAS, the Borrower has requested certain amendments to the Loan Agreement, and Lender is
willing to agree to such amendments, subject to the terms and conditions hereof.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

Section 1. Amendments.

Effective on the Effective Date set forth below, the definition of “Maturity Date” in
Section 1.1 of the Loan Agreement is amended and restated in its entirety as follows:

““Maturity Date” means April 30, 2009.”

Section 2. Effectiveness of Amendment.

This Fifth Amendment shall become effective on the date (the “Effective Date”) on which Lender
shall have received:

(a) this Fifth Amendment duly executed by all parties hereto;

(b) the consents substantially in the form attached hereto (the “Consents”) duly executed by
the Guarantors and subordinated creditors (the names of which are set forth on the Consents), as
applicable;

(c) an amendment to the Mortgage, Deed of Trust and Security Agreement dated as of July 26,
2007 (as amended, supplemented or otherwise modified from time to time) duly executed and delivered
by Merger Sub, in form and substance acceptable to Lender in its sole discretion; and

(d) such partnership or other authorization documents of the Borrower, the Guarantors and
subordinated creditors, as required by Lender, and opinions of counsel as Lender shall request.

 

 

 

Section 3.
Effect of Amendment; Ratification; Representations;
etc.

(a) On and after the date hereof, when counterparts of this Fifth Amendment shall have been
executed by all parties hereto, this Fifth Amendment shall be a part of the Loan Agreement, all
references to the Loan Agreement in the Loan Agreement and the other Loan Documents shall be deemed
to refer to the Loan Agreement as amended by this Fifth Amendment, and the term “this Agreement”,
and the words “hereof”, “herein”, “hereunder” and words of similar import, as used in the Loan
Agreement, shall mean the Loan Agreement as amended hereby.

(b) Except as expressly set forth herein, this Fifth Amendment shall not constitute an
amendment, waiver or consent with respect to any provision of the Loan Agreement, as amended
hereby, and the Loan Agreement, as amended hereby, is hereby ratified, approved and confirmed in
all respects.

(c) In order to induce Lender to enter into this Fifth Amendment, the Borrower represents and
warrants to Lender that before and after giving effect to the execution and delivery of this Fifth
Amendment:

(i)
the representations and warranties of the Borrower set
forth in the Loan Agreement and in the other Loan Documents are true and
correct (except that for the purpose of this Section 4(c)(i), the references to
“Subsidiaries” in subsections 4.3(c) (second reference only), 4.8, 4.9,
4.10, 4.12, 4.15, 4.18 and 4.19 shall be deemed to be references to “Restricted
Subsidiaries”),

(ii)
no Default or Event of Default has occurred and is continuing; and

(iii)
none of the Borrower or any Guarantor is (or will be at
any time) a party to any Related Contract (as defined in the MSA).

(d) The Borrower hereby represents and warrants to Lender, and by their execution of the
Guarantor Consent attached hereto, the Guarantors hereby represent and warrant to Lender that:

(i)
as of the date hereof, the principal amount outstanding of the Loan is
$4,000,000;

(ii)
interest and fees have accrued thereon as provided in the Loan Agreement; and

(iii)
the obligation of the Borrower and the Guarantors to repay the Loan and the other
Obligations, together with all interest and fees accrued thereon, is absolute and unconditional,
and there exists no right of set off or recoupment, counterclaim or defense of any nature
whatsoever to the payment of the Obligations.

 

- 2 -

 

Section 4. Release.

EACH OF THE BORROWER (IN ITS OWN RIGHT AND ON BEHALF OF ITS OFFICERS, EMPLOYEES, INDEPENDENT
CONTRACTORS, ATTORNEYS AND AGENTS) AND, BY THEIR EXECUTION OF THE GUARANTOR CONSENT ATTACHED
HERETO, THE GUARANTORS, HEREBY REPRESENTS, ACKNOWLEDGES AND AGREES THAT IT DOES NOT HAVE ANY
DEFENSES, COUNTERCLAIMS, OFFSETS, CROSS-COMPLAINTS, CLAIMS OR DEMANDS OF ANY KIND OR NATURE
WHATSOEVER INCLUDING, WITHOUT LIMITATION, ANY SUCH DEFENSES, COUNTERCLAIMS, OFFSETS,
CROSS-COMPLAINTS, CLAIMS OR DEMANDS THAT CAN BE ASSERTED (I) TO REDUCE OR ELIMINATE ALL OR ANY PART
OF THE OBLIGATIONS OR (II) TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM THE
LENDER OR ANY OF ITS PREDECESSORS, SUCCESSORS AND ASSIGNS, OFFICERS, EMPLOYEES, INDEPENDENT
CONTRACTORS, ATTORNEYS AND AGENTS (COLLECTIVELY WITH THE LENDER, THE “RELEASED PARTIES”). EACH OF
THE BORROWER AND, BY THEIR EXECUTION OF THE GUARANTOR CONSENT ATTACHED HERETO, THE GUARANTORS,
HEREBY UNCONDITIONALLY AND IRREVOCABLY, VOLUNTARILY AND KNOWINGLY WAIVES, REMISES, ACQUITS, AND
FULLY AND FOREVER RELEASES AND DISCHARGES THE RELEASED PARTIES FROM ALL POSSIBLE CLAIMS, DEMANDS,
ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, OR EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR
UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL,
AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS FIFTH AMENDMENT IS
EXECUTED, WHICH THE BORROWER OR ANY GUARANTOR MAY NOW OR HEREAFTER HAVE AGAINST ANY OF THE RELEASED
PARTIES AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW
OR REGULATIONS, OR OTHERWISE, INCLUDING, WITHOUT LIMITATION, THE EXERCISE OF ANY RIGHTS AND
REMEDIES UNDER THE LOAN AGREEMENT OR OTHER LOAN DOCUMENTS, AND NEGOTIATION AND EXECUTION OF THIS
FIFTH AMENDMENT.

Section 5. New York Law.

This Fifth Amendment shall be construed in accordance with and governed by the laws of the
State of New York, without regard to New York conflicts of laws principles.

 

- 3 -

 

Section 6. Severability.

If any provision hereof is invalid and unenforceable in any jurisdiction, then, to the fullest
extent permitted by law, (i) the other provisions hereof shall remain in full force and effect in
such jurisdiction and shall be liberally construed in order to carry out the intentions of the
parties hereto as nearly as may be possible, and (ii) the invalidity or unenforceability of any
provision hereof in any jurisdiction shall not affect the validity or enforceability of such
provision in any other jurisdiction.

Section 7. Counterparts.

This Fifth Amendment may be executed by the parties hereto individually or in any combination,
in one or more counterparts, each of which shall be an original and all of which shall together
constitute one and the same agreement. Signatures of the parties may appear on separate
counterparts.

 

- 4 -

 

IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be duly executed as
of the day and year first above written.

	 	 	 	 	 	 	 	 	 	 	 
	RIO VISTA ENERGY PARTNERS L.P.	 	 	 	RZB FINANCE LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By: 
	Rio Vista GP LLC, as its General Partner

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	By: 	/s/ Ian Bothwell
	 	 	 	By:	 	 	 	 
	 

	 	 

Name: Ian Bothwell
	 	 
	 	 	 	 

Name:
	 	 
	 

	 	Title:
	 	 	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Name:
	 	 
	 

	 	 	 	 	 	 	 	Title:	 	 

 

- 5 -

 

GUARANTOR CONSENT

Each of the undersigned hereby (i) consents and agrees to the terms and provisions of the
Fifth Amendment to Loan Agreement to which this Guarantor Consent is attached (the “Fifth
Amendment”; capitalized terms used herein having the meanings given to them in the Fifth Amendment
unless otherwise defined herein) and (ii) affirms the terms, conditions and the undersigned’s
obligations under and in connection with the Existing Guarantees (as defined below) and confirms
that its obligations thereunder are and shall remain in full force and effect and apply to the
Loan Agreement as amended by the Fifth Amendment. “Existing Guarantees” shall mean (i) the
Guarantee & Agreement dated as of July 26, 2007 (as amended, supplemented or otherwise modified
from time to time) between Penn Octane Corporation (“POC”) and Lender, (ii) the Guarantee &
Agreement dated as of July 26, 2007 (as amended, supplemented or otherwise modified from time to
time) between Rio Vista Operating Partnership L.P. (“RVOP”) and Lender and (iii) the Guarantee &
Agreement dated as of July 26, 2007 (as amended, supplemented or otherwise modified from time to
time) between Regional Enterprises, Inc. (“Regional”) and Lender.

Each of the undersigned further acknowledges and agrees that the Existing Security Agreements
(as defined below) and the liens and security interests granted under the Existing Security
Agreements shall remain in full force and effect, shall continue without interruption as security
for all of such undersigned’s present and future liabilities and obligations to Lender under the
Existing Guarantees and each of the other Loan Documents to which it is a party and shall not be
limited or impaired by the Fifth Amendment. “Existing Security Agreements” shall mean (i) the
General Security Agreement dated February 13, 2002 between POC and Lender (as amended, supplemented
or otherwise modified from time to time), (ii) the General Security Agreement dated September 15,
2004 between RVOP and Lender (as amended, supplemented or otherwise modified from time to time),
(iii) the Mortgage, Deed of Trust and Security Agreement dated as of July 26, 2007 (as amended,
supplemented or otherwise modified from time to time), recorded on July 27, 2007 in Hopewell
County, Virginia (instrument #070002627) executed by Regional, (iv) the Assignment of Leases and
Rents dated July 26, 2007 (as amended, supplemented or otherwise modified from time to time),
recorded on July 27, 2007 in Hopewell County, Virginia (instrument #070002628) executed by Regional
and (v) the General Security Agreement dated July 26, 2007 between Regional and Lender (as amended,
supplemented or otherwise modified from time to time).

	 	 	 	 	 
	PENN OCTANE CORPORATION	 	 
	 
	 	 	 	 
	By:

	 	/s/ Ian Bothwell
 

Name: Ian Bothwell
	 	 
	 

	 	Title:   Acting CEO	 	 

 

- 6 -

 

	 	 	 	 	 
	RIO VISTA OPERATING PARTNERSHIP L.P.	 	 
	 
	 	 	 	 
	By: Rio Vista Operating GP LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ Ian Bothwell
 

Name: Ian Bothwell

Title:   Acting CEO
	 	 
	 
	 	 	 	 
	REGIONAL ENTERPRISES, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Ian Bothwell
 

Name: Ian Bothwell
	 	 
	 

	 	Title:   President	 	 

 

- 7 -

 

SUBORDINATED CREDITOR CONSENT

Each of the undersigned hereby:

(i) reaffirms the terms, conditions and the undersigned’s obligations under and in connection
with (i) the Agreement of Subordination and Assignment dated November 18, 2007 (as amended,
supplemented or otherwise modified from time to time, the “Penny Subordination Agreement”) executed
by Rio Vista Penny LLC, Northport Production Company and the Borrower and (ii) the Agreement of
Subordination and Assignment dated January 27, 2009 (as amended, supplemented or otherwise modified
from time to time, the “RVOGP Subordination Agreement” and together with the Penny Subordination
Agreement, the “Subordination Agreements”) executed by Rio Vista Operating GP LLC and the Borrower;
and

(ii) confirms that the Liabilities (as defined in the Subordination Agreements) include,
without limitation, all Liabilities arising from Loans (as defined in the Loan Agreement) and other
extensions of credit made by Lender after giving effect to the Fifth Amendment to Loan Agreement to
which this Subordinated Creditor Consent is attached (the “Fifth Amendment”; capitalized terms used
herein having the meanings given to them in the Fifth Amendment unless otherwise defined herein).

RIO VISTA PENNY LLC

	 	 	 	 	 
	By:

	 	/s/ Ian Bothwell
 

Name: Ian Bothwell

Title:   Manager
	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name: 

Title:
	 	 
	 
	 	 	 	 
	RIO VISTA OPERATING GP LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ Ian Bothwell
 

Name: Ian Bothwell
	 	 
	 

	 	Title:   Acting CEO	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name: 

Title:
	 	 

 

- 8 -Exhibit 10.66

Exhibit 10.66

TCW ASSET MANAGEMENT COMPANY

865 South Figueroa Street, suite 1800

Los Angeles, California 90017

December 30, 2008

Rio Vista Penny LLC

2601 Northwest Expressway #902E

Oklahoma City, Oklahoma 93112

Attention: Ian Bothwell

	 	 	 	 	 
	 

	 	Re:
	 	Note Purchase Agreement, dated as of November 19, 2007 (as amended,
supplemented or otherwise modified, the “Note Purchase Agreement”), by and among
RIO VISTA PENNY LLC, an Oklahoma limited liability company (“Company”), the
Holders party thereto, and TCW ASSET MANAGEMENT COMPANY, as Administrative
Agent.

Gentlemen:

Reference is made to the Note Purchase Agreement. Terms that are defined in the Note
Purchase Agreement and not otherwise defined herein are used herein with the meanings given
them in the Note Purchase Agreement.

Company has requested that Holders extend the required payments of principal and
accrued interest that are due and payable on the December 2008 Quarterly Payment Date and
also to extend the date to deliver the Engineering Report effective as of November 1, 2008,
in each case to February 28, 2009. Accordingly, in reliance upon the representations,
warranties, covenants, and waivers of the Restricted Persons contained in this Letter, and
subject to the terms and conditions of this Letter, Administrative Agent and Holders hereby
agree that (i) the mandatory principal payment in respect of the Notes due and payable on
the December 2008 Quarterly Payment Date pursuant Section 2.8(a) of the Note Purchase
Agreement is hereby extended to February 28, 2009, (ii) the required payment of accrued
interest in respect of the Notes due and payable on the December 2008 Quarterly Payment Date
is hereby extended to February 28, 2009, and (iii) the delivery of the Engineering Report to
be effective as of November 1, 2008 that was due prior to December 1, 2008 pursuant to
Section 7.2(i) of the Note Purchase Agreement is hereby extended to February 28, 2009.

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008

Page 2

In order to induce Holder Parties to enter into this Letter, Company represents and
warrants to each Holder Party that the representations and warranties contained in Article V
of the Note Purchase Agreement are true and correct at and as of the time of the
effectiveness hereof, except to the extent such representations and warranties specifically
refer to an earlier date, in which case they are true and correct as of such earlier date.
Company hereby further acknowledges, confirms and agrees that as of the close of business on
December 29, 2008, Company is indebted to Holders in respect of the Loans in the aggregate principal amount of
$24,700,000.00 and in respect of accrued but unpaid interest related thereto in the amount of
$789,027.78. All such Loans, together with interest accrued and accruing thereon, and fees, costs,
expenses and other charges now or hereafter payable by Company to Administrative Agent and Holders
under the Note Documents, are unconditionally owing by Company to Administrative Agent and Holders,
without offset, defense or counterclaim of any kind, nature or description whatsoever. Company (and
each other Restricted Person by execution of the attached Consent and Reaffirmation) hereby
acknowledges, confirms and agrees that Administrative Agent and Holders have and shall continue to
have valid, enforceable and perfected first-priority Liens in the Collateral heretofore granted to
Administrative Agent and Holders pursuant to the Note Documents or otherwise granted to or held by
such Persons.

To induce Holder Parties to enter into this Letter, Company (and each other Restricted Person
by execution of the attached Consent and Reaffirmation) hereby (a) represents and warrants that as
of the date of this Letter there are no claims or offsets against or defenses or counterclaims to
its obligations under the Note Documents, and waives any and all such claims, offsets, defenses,
or counterclaims, whether known or unknown, arising prior to the date of this Letter, (b) releases
and forever discharges the Released Persons from any and all Released Claims, and (c) covenants
not to assert (and not to assist or enable any other Person to assert) any Released Claim against
any Released Person. The Restricted Persons acknowledge and agree that such release is a general
release of any and all Released Claims that constitutes a full and complete satisfaction for all
or any alleged injuries or damages arising out of or in connection with the Released Claims, all
of which are herein compromised and settled. As used in this paragraph, “Released Claims” and
“Released Persons” mean:

“Released Claims” means any and all actions, causes of action, judgments, executions,
suits, debts, claims, demands, controversies, liabilities, obligations, damages and
expenses of any and every character (whether known or unknown, liquidated or unliquidated,
absolute or contingent, acknowledged or disputed, direct or indirect), at law or in equity,
of whatsoever kind or nature (including claims of usury), whether heretofore or hereafter
accruing, for or because of any matter or things done, omitted or suffered to be done by
any of the Released Persons prior to and including the date hereof that in any way directly
or indirectly arise out of or in any way are connected to (a) any of the Note Documents or
any default or event of default thereunder, (b) any negotiation, discussion, enforcement
action, agreement or failure to agree related to any Note Document or any default or event
of default thereunder, or (c) any action, event, occurrence, or omission otherwise related
to the rights, duties, obligations and relationships among the various Restricted Persons
and Holder Parties.

“Released Persons” means Administrative Agent, Holders, and Royalty Owner,
together with their respective employees, agents, attorneys, officers, partners,
shareholders, accountants, consultants, and directors, and their respective successors and
assigns.

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008 

Page 3

The Note Purchase Agreement and the other Note Documents are hereby ratified and confirmed in
all respects. Except as expressly set forth above, the execution, delivery and effectiveness of
this letter shall not operate as a waiver of any right, power or remedy of Administrative Agent or
Holders under the Note Purchase Agreement or any other Note Document, nor constitute a waiver of
any provision of the Note Purchase Agreement or any other Note Document.

THIS LETTER AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND
SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF.

This Letter may be executed in any number of counterparts, each of which when so executed and
delivered shall be deemed an original, but all such counterparts together shall constitute but one
and the same instrument. This Letter may be executed by facsimile signature and all such
signatures shall be effective as originals.

This Letter is a “Note Document”, as defined in the Note Purchase Agreement, and, except as
expressly provided herein to the contrary, this Letter is subject to all provisions of the Note
Purchase Agreement governing such Note Documents.

Please execute a counterpart of this Letter in the place provided below to evidence your
agreement to the foregoing and your continuing ratification of the Note Purchase Agreement and the
other Note Documents in consideration hereof, whereupon this Letter shall become effective as of
the date first written above.

	 	 	 	 	 
	 	Yours truly,

TCW ASSET MANAGEMENT COMPANY, 

as Administrative Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008

Page 4

	 	 	 	 	 	 	 	 	 
	 	 	HOLDERS:
	 
	 	 	 	 	 	 	 	 
	 	 	TCW ENERGY FUND X — NL, L.P.,

a California limited partnership
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	TCW (ENERGY X) LLC, its General Partner:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	TCW Asset Management Company,

its Managing Member
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 

	 	 	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 

	 	 	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 	 	 
	 	 	TCW ENERGY FUND XB — NL, L.P.,

a California limited partnership
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	TCW (ENERGY X) LLC, its General Partner:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	TCW Asset Management Company,

its Managing Member
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 

	 	 	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 

	 	 	 	 	 	 	 	Title:

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008

Page 5

	 	 	 	 	 	 	 	 	 
	 	 	TCW ENERGY FUND XC — NL, L.P.,

a California limited partnership
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	TCW (ENERGY X) LLC, its General Partner:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	TCW Asset Management Company,

its Managing Member
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 

	 	 	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 

	 	 	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 	 	 
	 	 	TCW ENERGY FUND XD — NL, L.P.,

a California limited partnership
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	TCW (ENERGY X) LLC, its General Partner:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	TCW Asset Management Company,

its Managing Member
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 

	 	 	 	 	 	 	 	Title:
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 

	 	 	 	 	 	 	 	Title:

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008

Page 6

	 	 	 	 	 
	 	 	TCW ASSET MANAGEMENT COMPANY, a

California corporation, as Investment Manager under the Amended and Restated Investment Management
and Custody Agreement dated as of December 3, 2003 among Ensign Peak Advisors, Inc., TCW Asset
Management Company and Trust Company of the West, a California trust company, as Sub-Custodian
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	TCW ASSET MANAGEMENT COMPANY, a

California corporation, as Investment Manager under the Amended and Restated Investment Management
and Custody Agreement dated as of December 11, 2003 among Harry L. Bradley, Jr. Partition Trust,
Harry L. Bradley, Jr. Trust, Jane Bradley Uihlien Pettit Partition Trust, Jane Bradley Uihlien
Trust, TCW Asset Management Company and Trust Company of the West, a California trust company, as
Sub-Custodian
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008

Page 7

	 	 	 	 	 
	 	 	TCW ASSET MANAGEMENT COMPANY, a

California corporation, as Investment Manager under the Amended and Restated Investment Management
and Custody Agreement dated as of March 18, 2004 among ING Life Insurance and Annuity Company, TCW
Asset Management Company and Trust Company of the West, a California trust company, as
Sub-Custodian
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008

Page 8

	 	 	 	 	 
	Accepted and agreed to as of the date first written above:	 	 
	 
	 	 	 	 
	RIO VISTA PENNY LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ Ian Bothwell	 	 
	 

	 	 	 	 
	 

	 	Ian Bothwell

Manager
	 	 

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008

Page 9

CONSENT AND REAFFIRMATION

Each of the undersigned hereby (i) consents to the provisions of this Letter Agreement
and the transactions contemplated herein and agrees to the provisions therein related to it as
a Restricted Person, (ii) ratifies and confirms the Management Services Agreement, the
Guaranty dated November 19, 2007, and the other Note Documents, in each case to which it is a
party, (iii) agrees that all of its respective obligations and covenants thereunder shall
remain unimpaired by the execution and delivery of this Letter Agreement, and (iv) agrees that
the Management Services Agreement, such Guaranty, and such other Note Documents shall remain
in full force and effect.

	 	 	 	 	 
	 	RIO VISTA ECO LLC

 	 
	 	By:  	/s/ Ian Bothwell
 	 
	 	 	Ian Bothwell 	 
	 	 	Manager 	 
	 
	 	RIO VISTA GO LLC

 	 
	 	By:  	/s/ Ian Bothwell
 	 
	 	 	Ian Bothwell 	 
	 	 	Manager 	 
	 
	 	GO, LLC

 	 
	 	By:  	/s/ Ian Bothwell
 	 
	 	 	Ian Bothwell 	 
	 	 	Manager 	 
	 
	 	MV PIPELINE COMPANY

 	 
	 	By:  	/s/ Ian Bothwell
 	 
	 	 	Ian Bothwell 	 
	 	 	President 	 

[Letter Agreement]

 

 

 

Rio Vista Penny LLC

December 30, 2008

Page 10

	 	 	 	 	 
	 	RIO VISTA OPERATING LLC

 	 
	 	By:  	/s/ Ian Bothwell
 	 
	 	 	Ian Bothwell 	 
	 	 	Manager 	 
	 
	 	RIO VISTA ENERGY PARTNERS L.P.

 	 
	 	By:  	Rio Vista GP LLC, its general partner
 	 
	 	 	 
	 	By:  	                                            /s/ Ian Bothwell
 	 
	 	 	Ian Bothwell 	 
	 	 	Manager 	 

[Letter Agreement]

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