Document:

Agreement of Exchange of Studio One Media, Inc., and Studio One Entertainment,
      Inc., dated April 17, 2007

    
      

    

    EXHIBIT
      10.2

    

      AGREEMENT
        OF EXCHANGE

      OF

      STUDIO
        ONE MEDIA, INC.

      AND

      STUDIO
        ONE ENTERTAINMENT, INC.

      

      

      AGREEMENT
        OF EXCHANGE made as of the 17th day of April, 2007, by and between Studio
        One
        Media, Ic., (fka Dimensional Visions Incorporated), a Delaware corporation
        (herein, “SOMD”), and Studio One Entertainment, Inc., an Arizona corporation
        (herein, “SOE”). SOMD and SOE are sometimes hereinafter collectively referred to
        as the “Constituent Corporations”. 

      

      RECITALS:

      

      SOMD
        is a
        Delaware corporation organized on May 12, 1988, and its authorized capital
        stock
        consists of 100,000,000 shares of common stock, $.001 par value (the “SOMD
        Common Stock”) of which no more than 4,000,000 shares of SOMD Common Stock will
        be issued and outstanding as of the Closing Date.

      

      SOE
        is an
        Arizona corporation organized on September 24, 2004 and its authorized capital
        stock consists of 100,000,000 shares of common stock, no par value (the “SOE
        Common Stock”) of which 7,000,000 shares of SOE Common Stock will be issued and
        outstanding as of the Closing Date and no shares of SOE Common Stock are
        reserved for issuance upon exercise of any outstanding common stock purchase
        warrants or options except as described in the Stock Purchase
        Agreement.

      

      SOMD
        and
        SOE have entered into an Stock Purchase Agreement dated March 29, 2006 (the
        “Stock Purchase Agreement”) setting forth certain representations, warranties,
        agreements and conditions in connection with the exchange provided for
        herein.

      

      The
        respective Board of Directors of SOMD and SOE have, by resolution, duly approved
        the execution of and the transaction contemplated by the Stock Purchase
        Agreement and this Agreement of Exchange and directed that they be submitted
        to
        the shareholders of SOE for adoption and approval.

      

      A
        majority of the shareholders of SOMD and a majority of the shareholders of
        SOE
        have approved the transaction contemplated by the Stock Purchase Agreement
        and
        this Agreement of Exchange.

      

      NOW,
        THEREFORE, in consideration of the premises and of the mutual covenants and
        agreements herein contained, the parties hereto have agreed and do hereby
        agree,
        subject to the terms and conditions hereinafter set forth, as
        follows:

      

      I

      

      EXCHANGE

      

      1.1
        In
        accordance with the provisions of this Agreement and Section 1(a) of Stock
        Purchase Agreement, each of the shares of SOE Common Stock outstanding as
        the
        Effective Date of the Exchange shall be exchanged for one (1) share of SOMD
        Common Stock to be issued upon the Effective Date of the Exchange. SOMD shall
        be
        and is herein sometimes referred to as the “Acquiring Corporation”.

      

      1.2
        Upon
        the Effective Date of the Exchange (as defined in Article III hereof) SOE
        shall
        become a wholly-owned subsidiary of SOMD, (i) shall continue to possess all
        of
        its rights and property as constituted immediately prior to the Effective
        Date
        of the Exchange and (ii) shall continue subject to all of its debts and
        liabilities as the same shall have exited immediately prior to the Effective
        Date of the Exchange. All rights of creditors and all liens upon the property
        of
        each of the Constituent Corporations shall be preserved
        unimpaired.

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      1.3
        SOMD
        hereby agrees that at and after the times when the Exchange shall become
        effective and as and when required by the provisions of the Stock Purchase
        Agreement, SOMD will issue certificates representing that number of shares
        of
        common stock, $.001 par value per share, or SOMD (collectively, “Exchange
        Shares”) for which shares of SOMD Common Stock issued and outstanding
        immediately prior to the Effective Date of the Exchange and by virtue of
        the
        Exchange, be exchanged as hereinafter provided.

      

      1.4
        The
        Exchange shall not become effective until the following actions shall have
        been
        completed: (i) this Agreement of Exchange shall have been adopted and approved
        by the shareholders of SOE in accordance with the requirements of Arizona
        corporate law; and (ii) all of the other conditions precedent to the
        consummation of the Exchange specified in the Stock Purchase Agreement shall
        have been satisfied or duly waived by the party entitled to satisfaction
        thereof.

       

      

      II

      

      EXCHANGE
        OF SHARES

      

      The
        manner and basis of exchanging shares of SOE Common Stock for the Exchange
        Shares and the exchange of certificates therefore, shall be as
        follows:

      

      2.1
        Each
        one (1) share of SOE Common Stock which shall be issued and outstanding
        immediately prior to the Effective Date of the Exchange shall, by virtue
        of the
        Exchange and without any action on the part of the holder thereof other than
        that set forth in the Stock Purchase Agreement, be exchanged on or before
        the
        fifteenth (15th)
        day
        after the Board of Directors of SOMD shall have approved and authorized the
        consummation of the transaction contemplated by the Acquisition Documents
        (the
“Effective Date of the Exchange”) into One (1) share of the Exchange Shares. If
        between the date hereof and the Effective Date of the Exchange, SOMD or SOE
        shall either effect any reclassification, recapitalization, subdivision,
        combination or exchange or shares, in respect of their respective outstanding
        common stock, or a stock divided thereon shall be declared with a record
        date
        within said period, the per share amounts of the Exchange Shares to be issued
        and delivered as provided in this Agreement shall be appropriately
        adjusted.

      

      2.2
        After
        the Effective Date of the Exchange certificates evidencing outstanding shares
        of
        SOE Common Stock shall evidence the right of the holder thereof to receive
        certificates for shares of the Exchange Shares at the applicable rate as
        aforesaid. Each holder of SOE Common Stock, upon surrender of the certificate
        or
        certificates, which prior thereto represented shares of SOE Common Stock,
        to
        SOMD’s stock transfer agent, which shall act as the exchange agent (the
“Exchange Agent”) for such shareholder to effect the exchange of certificates on
        their behalf, shall be entitled upon such surrender to receive in exchange
        therefore a certificate or certificates representing the number of whole
        shares
        of the Exchange Shares into which the shares of SOE Common Stock therefore
        represented by the certificate or certificates so surrendered shall have
        been
        exchanged as aforesaid. Until so surrendered, each outstanding certificate
        for
        shares of SOE Common Stock shall be deemed for all corporate purposes, including
        voting rights, subject to the future provisions of this Article II, to evidence
        the ownership of the shares of the Exchange Shares into which such shares
        have
        been so exchanged. No dividends or distributions will be paid to persons
        entitled to receive certificates for shares of the Exchange Shares pursuant
        hereto until such persons shall have surrendered their certificates which
        prior
        to the Effective Date of the Exchange represented shares of SOE Common Stock;
        but there shall be paid to the record holder of each such certificates, with
        respect to the number of whole shares of the Exchange Shares issued in exchange
        therefore (i) upon such surrender, the amount of any dividends or distributions
        with a record date subsequent to the Effective Date of the Exchange and prior
        to
        surrender which shall have become payable thereon since the Effective Date
        of
        the Exchange, without interest, and (ii) after such surrender, the amount
        of any
        dividends thereon with a record date subsequent to the Effective Date of
        the
        Exchange and prior to surrender and the payment date of which shall be
        subsequent to surrender; such amount to be paid on such payment
        date.

      

      2.3
        No
        certificates representing a fraction of a share of the Exchange Shares will
        be
        issued and no right to vote or receive any distribution or any other right
        of a
        shareholder shall attach to any fractional interest in a share of the Exchange
        Shares to which any holder of shares of SOE Common Stock would otherwise
        be
        entitled hereunder. In lieu thereof, each holder of shares of SOE Common
        Stock
        entitled to a fraction of a share of the Exchange Shares shall receive one
        whole
        share of SOMD Common Stock if the fraction of a share is equal to or greater
        than one-half share (.50); otherwise, the holder of the fraction of a share
        shall receive cash on the basis of $.50 per share.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      

      2.4
        If
        any certificate for shares of the Exchange Shares is to be issued in a name
        other than that in which the certificate surrendered in exchange therefore
        is
        registered, it shall be a condition of the issuance thereof that the certificate
        so surrendered shall be properly endorsed and otherwise be in proper form
        for
        transfer and that the person requesting such exchange pay to the Exchange
        Agent
        any transfer or other taxes required by reason of the issuance of a certificate
        for shares of the Exchange Shares in any name other than that of the registered
        holder of the certificate surrendered, or establish to the satisfaction of
        the
        Exchange Agent that such tax has been paid or is not payable.

      

      2.5
        At
        the Effective Date of the Exchange, all shares of SOE Common Stock which
        shall
        then be held in its treasury, if any, shall cease to exist, and all certificates
        representing such shares shall be canceled.

      

      III

      

      CONDITION
        SUBSEQUENT

      

      SOE
        shall, within thirty days of the date hereof, furnish SOMD with copies of
        its
        audited Financial Statements together with the Auditor’s report for all fiscal
        years ended December 31, 2004, 2005, and 2006 and for the current year through
        and at the Closing Date. Such financial statements shall consist of the balance
        sheet, the income statement, statement of stockholder’s equity and changes in
        financial position for the year or period then ended. 

      

      

      IV

      

      MISCELLANEOUS

      

      3.1
        For
        the convenience of the parties hereto and to facilitate the filing of this
        Agreement of Exchange, any number of counterparts hereof may be executed;
        and
        each such counterpart shall be deemed to be an original instrument.

      

      3.2
        At
        any time prior to the Effective Date of the Exchange the parties hereto may,
        by
        written agreement, (a) extend the time for the performance of any of the
        obligations or other acts of the parties hereto, (b) waive (in the manner
        specified in Paragraph 14 of the Stock Purchase Agreement) any breach or
        inaccuracy in the representations and warranties contained in this Agreement
        of
        Exchange or in the Stock Purchase Agreement or in any document delivered
        pursuant thereto, or (c) waive (in the manner specified in Paragraph 14 of
        the
        Stock Purchase Agreement) compliance with any of the covenants, conditions
        or
        agreements contained in this Agreement of Exchange or in the Stock Purchase
        Agreement.

      

      3.3
        The
        corporation parties to this Agreement are also parties to the Stock Purchase
        Agreement. The two agreements are intended to be construed together in order
        to
        effectuate their purposes, and said agreements are intended as a plan or
        reorganization within the meaning of Section 368 of the Internal Revenue
        Code of
        1954, as amended.

      

      IN
        WITNESS WHEREOF, each of the undersigned corporations has caused this Agreement
        of Exchange to be signed in its corporate name by its duly authorized officers
        and its corporate seal to be affixed hereto, all as of the date first above
        written.

      

      

      

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      STUDIO
        ONE MEDIA, INC.

      

      

      

      By:
         /s/
        Preston J. Shea 

        
        President

      

      

      

      STUDIO
        ONE ENTERTAINMENT, INC. 

      

      

      

      By:
         /s/
        Lawrence G. Ryckman 

        Chairman
        and Chief Executive Officer

       

       

       

       

       

       

       

       

       

       

       

       

       4EXHIBIT 10.1

    Chevron                     Gordon R. Cain      North America Upstream
[LOGO OMITTED]                  Land Manager        Gulf of Mexico Land Division
                                                    935 Gravier Street
                                                    New Orleans, LA 70112
                                                    Tel 504-592-6356
                                                    Fax 504-592-7110
                                                    GordonCain@chevron.com

November 1, 2006

Ridgewood Energy Corporation
11700 Old Katy Road, Suite 280
Houston TX, 77079

Attention: Mr. Greg Tabor

Participation Agreement
North Jaguar Prospect
OCS-G 13980, VIOSCA KNOLL BLOCK 207
Viosca Knoll Block 207 #2ST #2
Viosca Knoll Field
Offshore Alabama

Gentlemen:

This Participation Agreement ("PA"), when executed by each of the Parties
hereto, being Chevron U.S.A. Inc. ("Chevron") and Ridgewood Energy Corporation
("Ridgewood"), sometimes hereinafter referred to as the "Parties", will evidence
the agreement between the Parties to explore, develop and operate certain rights
in the "Contract Area", as defined below. The Parties hereby agree to the
following terms and conditions:

1. CONTRACT AREA.  The Contract Area is the leasehold acreage that covers the
     following described property:

     Viosca Knoll Block 207 (OCS-G 13980) as said lease covers depths down to
     and including the total depth of 99,999', hereinafter referred to as the
     "Contract Area." Chevron's interest in the Contract Area, to the best of
     our information and belief is set out as shown in Exhibit "A" attached
     hereto and is hereinafter referred to as the "North Jaguar Prospect".

2. COMMENCEMENT.   Subject to the other terms hereof, weather delay, delivery of
     materials, (e.g. pipe), rig availability and obtaining all requisite
     permits, which rig and permits Chevron shall use reasonable business-like
     efforts to obtain, Ridgewood hereby obligates itself to participate,
     subject to and under the Article 3 terms below, and, Chevron, as operator,
     must commence mobilizing the Ocean Drake drilling rig or mobilizing a
     drilling rig capable of drilling the Viosca Knoll Block 207 #2ST #2,
     hereinafter sometimes referred to as the "Initial Well", on or before
     November 22, 2006, as a development well, to be sidetracked, drilled and
     logged pursuant to certain terms of': the Operating Agreement ("OA"),
     attached hereto as Exhibit "B".

<PAGE>

     The terms and provisions of the OA are incorporated herein as if set forth
     in full, are not intended to create any operating rights area in which
     Ridgewood owns an interest in the Contract Area and apply, prior to any
     earning by Ridgewood but, solely to recognize the rights, privileges and
     protections of Chevron as operator and for pre-earning notices, content and
     election periods and access by Ridgewood to the rig floor, but not
     otherwise. The costs, risks and expenses of the Initial Well are
     proportionately borne under this PA, and not the OA, until an earning by
     Ridgewood. Voting rights under this PA for operations shall require
     unanimous consent prior to earning, and a failure to reach unanimous
     consent shall be cause for the plugging and abandonment of the well by
     Chevron. Either party may propose abandonment at any time after reaching
     expenditure of one hundred and fifteen percent (115%) of the AFE. The
     Initial Well will be sidetracked, drilled and logged as per the final
     executed and approved Authority For Expenditure ("AFE") and well plan, as
     attached hereto as Exhibit "C", within the Contract Area, from a surface
     location of 7,329' FNL and 266' FEL on Viosca Knoll Block 206 OCS-G 10926
     (X = 1,266,927, Y = 10,811,390') to a bottom hole location for this
     proposed sidetrack being 7,598' FNL and 4,719' FWL of Viosca Knoll Block
     207 OCS-G 13980 (X = 1,271,912.76, Y = 10,811,120.46). The Initial Well
     shall be sidetracked, drilled and logged with due diligence and in
     accordance with good oilfield practice, at an estimated sub sea top of
     14,565', to the Lower Cretaceous Aptian 115 MYBD Middle James age carbonate
     formation, hereinafter referred to as the "Objective", and casing point
     shall occur when the Initial Well is side tracked, drilled and logged to
     the Objective. Subject to the other terms herein, sidetracking, drilling
     and logging operations will be conducted to casing point, and elections
     regarding subsequent operations after reaching the Objective will be made
     under and subject to the OA in the proportions prescribed under Exhibit "B"
     OA, with costs, risks and expense of such operations and ownership of and
     earning in the Contract Area governed by this PA prior to earning and by
     the OA after any earning.

3. PROSPECT WELL COST SHARING.   Chevron has proposed and Ridgewood has approved
     the sidetracking, drilling and logging of the Initial Well in the Contract
     Area as set forth in the attached Exhibit "C" ATE. By executing this PA and
     obligating itself to participate in the Initial Well, Ridgewood has the
     right to earn a forty percent (40%) working interest of the Chevron
     interest, proportionately reduced, in the Contract Area, upon meeting the
     obligations herein and in particular those set forth in Article 5 below for
     the Initial Well or Substitute Well, by paying seventy percent (70%) of the
     costs, to the extent applicable under this PA, of sidetracking, drilling
     and logging to the Objective, and/or plugging & abandoning, as a dry hole
     if applicable, of the Initial Well or Substitute Well, up to one hundred
     and fifteen percent (115%) of the costs in the attached Exhibit "C" AFE. If
     the Initial Well's actual cost exceeds the amount as set forth on the AFE
     by f fifteen percent (15%) or upon reaching the Objective, whichever occurs
     first, Ridgewood will thereafter pay and bear forty percent (40%) of the
     costs and risks of all subsequent operations in such well over such AFE
     cost for further drilling operations. However, notwithstanding anything to
     the contrary, if the Parties unanimously elect not to complete the Initial
     Well, whether or not reaching the Objective, but unanimously elect to plug

Ridgewood North Jaguar PA
November 1, 2006

                                                                          Page 2
<PAGE>

     and abandon the same, Ridgewood will pay and bear seventy percent (70%) of
     the costs and risks of such plugging and abandoning operations. The Parties
     agree that should a Substitute Well, as specified in Article 10, below, be
     approved by the Parties and commenced, Ridgewood's obligation to pay
     seventy percent (70%) of the AFE costs will cease at the point in time that
     the actual costs of the Initial Well plus the actual costs of the
     Substitute Well combined equal one hundred and fifteen percent (115%) of
     the AFE costs for the Initial Well; provided however, once the aggregate
     costs of the Initial Well and Substitute Well equal one hundred and fifteen
     percent (115%) of the costs of the total amount of the AFE for the Initial
     Well, Ridgewood's share of all subsequent drilling and operating costs will
     be forty percent (40%), subject to further rights, elections and provisions
     of this PA or the OA, as applicable. Effective upon and after reaching the
     Objective, but not before, the right to non-consent further or subsequent
     operations provided by the overexpenditure provision of the OA shall apply
     to subsequent operations. Prior to reaching the Objective, the Parties
     remain bound to the obligations of the PA, subject to the other terms of
     Article 2. It is the intention of the Parties, subject to Article 4 below,
     that the 1.75:1 promote borne by Ridgewood in favor of Chevron under the PA
     for the costs and risk of sidetracking, drilling and logging operations
     conducted under the PA shall end upon the earlier of earning, as detailed
     in Article 5 below, or the aggregate expenditure of one hundred and fifteen
     percent (115%) of the AFE cost.

4. REIMBURSEMENT OF ADDITIONAL PROMOTE. The Parties further agree that if the
     Initial Well or Substitute Well is completed as a successful well and
     produces 12 BCF gross of gas, then Chevron shall bill, and Ridgewood shall,
     within thirty days of such event, reimburse to Chevron, in one lump sum
     payment additional monies towards the sidetracking, drilling and logging
     operations cost conducted hereunder, plus jacket cost, the sum of the
     following: 1) an additional ten percent (10%) of the actual expended
     sidetracking, drilling and logging operations cost to the Objective, but
     not to exceed one hundred and fifteen percent (115%) of the AFE cost, and
     2) an additional forty percent (40%) of the actual jacket cost (being its
     40% working interest plus an additional 40% for a total of 80% of the
     actual jacket costs), which combined thereby increases the promote paid by
     Ridgewood to Chevron to a 2:1 level for the AFE cost, subject to Article 3,
     plus the jacket cost.

5. ASSIGNMENT, TIMING & INTEREST TRANSFERRED. Ridgewood shall earn, and Chevron
     shall timely make, an Assignment of Operating Rights ("Assignment") in the
     Contract Area to Ridgewood, if and only if:

     a)   the Initial Well or Substitute Well is sidetracked, drilled and logged
          to the Objective as described in Article 2 above, or
     b)   if the Initial Well, or its Substitute Well, either fails to reach the
          Objective, or reaches the Objective, but the Parties have expended at
          least one hundred and fifteen percent (115%) of the funds estimated to
          sidetrack, drill and log the Initial Well as stated in the AFE,

Ridgewood North Jaguar PA
November 1, 2006

                                                                          Page 3
<PAGE>

          whether such well is completed or not, then Ridgewood will be entitled
          to an Assignment of Chevron's operating rights, as set forth on
          Exhibit "A" as provided for herein, and
     c)   Ridgewood complies with all of the terms of this PA.

     Within sixty (60) days of satisfying a) and c) or b) and c) of the above
     referenced events, Chevron will assign, without warranty of title, express
     or implied, to Ridgewood forty percent of eight-eighths (40% of 8/8ths) of
     Chevron's operating rights within the Contract Area, from the surface of
     the earth to the stratigraphic equivalent of the sub sea true vertical
     depth of 15,083' as seen in the Samedan Oil Corporation OCS-G 13982 Well
     No. 1 drilled in Viosca Knoll Block 252 and forty percent of twenty-five
     percent of eight-eighths (40% of 25% of 8/8ths) of Chevron's operating
     rights within the Contract Area, below the stratigraphic equivalent of the
     sub sea true vertical depth of 15,083' as seen in the Samedan Oil
     Corporation OCS-G 13982 Well No. I drilled in Viosca Knoll Block 252 down
     to 99,999 feet. Such interest is further subject to and burdened by all of
     the contracts, agreements and dedications recited herein and lessor's
     royalty and the overriding royalty interests as set out on Exhibit "A".

     If the Initial Well or Substitute Well fails to reach the Objective, but
     encounters, as mutually agreed, a zone(s) or formation(s) capable of
     producing in paying quantities, above the Objective, that is within the
     Contract Area, and the Parties mutually agree to cease further drilling
     operations prior to reaching the Objective, Ridgewood will thereafter be
     entitled to an Assignment of operating rights within the Contract Area for
     the interests above stated but. limited to the total depth drilled and
     logged plus 100 feet.

6. WARRANTY. The transfer of any interest in the Contract Area pursuant to this
     PA to Ridgewood shall be made by Chevron without express or implied
     warranty of any kind. Chevron shall grant and convey to Ridgewood full
     subrogation and substitution to all Chevron rights in warranty against the
     predecessors in interest of Chevron and its affiliates. Chevron shall
     provide Ridgewood full access to the Chevron files and records related to
     the Contract Area for independent review and analysis by Ridgewood. Such
     files and records are not warranted as complete or accurate but were
     maintained as business records upon which Chevron relies.

7. NO NEW LEASE BURDENS. Until Ridgewood earns an interest under this PA, or
     until the right to earn a portion of the Chevron interest in the Contract
     Area pursuant to this PA terminates, Ridgewood and Chevron (except as
     specified in Article 15) agree that they have not and will not create any
     additional lease burdens or dedications on the Contract Area. No mortgage
     or pledge or refinancing arrangement by Ridgewood before or after any such
     interest is earned or assigned is ever permitted without the prior written
     consent of Chevron, which consent shall not be unreasonably withheld. Such
     condition shall be made express in any Assignment of earned area made to
     Ridgewood.

Ridgewood North Jaguar PA
November 1, 2006

                                                                          Page 4
<PAGE>

8. TRANSFER SUBJECT TO APPLICABLE APPROVALS. In the event that the transfer of
     any interest in and to the Contract Area requires approval of the lessor or
     of any federal agency having jurisdiction, the obligation to obtain such
     pertinent approval shall be Ridgewood's, at its cost and risk. Chevron
     agrees to assist Ridgewood as necessary to help Ridgewood secure such
     approvals, including but not limited to the preparation of mutually
     agreeable assignments or conveyance instruments appropriate for fling and
     recordation purposes with the MMS and/or applicable parish records.

9. ACCOUNTING MATTERS. As to the Contract Area, all costs and expenses, which
     are accrued or incurred pursuant to this PA and under any transfer of
     interest in the Contract Area executed pursuant hereto, if any, shall be
     determined and accounted for in accordance with the Accounting Procedure,
     which is in Exhibit "C" of the OA, attached hereto as Exhibit "B".

10. SUBSTITUTE WELL. If the Initial Well is drilled and prior to reaching the
     Objective, Chevron encounters mechanical difficulties, gulf coast
     conditions or other conditions which render further drilling impractical,
     or if the Parties agree, per Article 5 above, to complete the Initial Well
     above but without reaching the Objective, then without limiting the
     Parties' rights pursuant to Article 5, then either of the Parties shall
     have the right to propose the drilling of another well to the Objective,
     hereinafter referred to as a "Substitute Well", at and to any legal
     location in the Contract Area, but such operations must commence within 120
     days after the date the rig was released from the last operation on the
     Initial Well. If such well is proposed and Ridgewood participates and the
     Substitute Well is timely and properly commenced and drilled in compliance
     with all terms and conditions provided herein for the Initial Well, then
     such Substitute Well shall, in all respects (but, in any event, shall be
     subject to the Article 3 cumulative cost sharing limitation for the Initial
     Well and Substitute Well) be considered as if it was the Initial Well and
     any references in this PA to the Initial Well shall also include any
     Substitute Well.

11. SUBSEQUENT OPERATIONS. Should Ridgewood earn hereunder, where the Initial
     Well (or a Substitute Well therefore) is drilled to the Objective, as
     provided above and the Parties mutually agree to complete the Initial Well
     in the Objective, or should the Parties mutually agree, per Article 5
     above, to complete the Initial Well above but without reaching the
     Objective, no Party shall hold the right to propose a well or any other
     drilling operations pursuant to the OA until after six (6) months of
     continuous production from any earning well or six months from the last
     production in paying quantities, should any earning well fail to provide
     six (6) months of continuous production, and any such permitted wells and
     operations shall be conducted in accordance with the OA. Should the Initial
     Well be a dry hole and should the Parties mutually agree, a subsequent well
     may be proposed by either party at any time but subject to the delay period
     and rights provisions in the PA.

Ridgewood North Jaguar PA
November 1, 2006

                                                                          Page 5
<PAGE>

     Without limiting the express provisions of the Proposal for Development
     Operation Letter Agreement dated October 10, 2006, between Chevron U.S.A.
     Inc. and Coldren Resources, LP, the Parties further agree to limit and
     prohibit any drilling and/or development operations in the South Half of
     the South Half (S/2 of the S/2) of the Contract Area within or to the James
     Lime sand, as such sand was seen in that certain OCS-G 10930, Well No. A2
     drilled and completed on Viosca Knoll Block 251, until the abandonment of
     such zone in such well or unless Coldren Resources, LP consents to such
     drilling and/or development operation. This restriction within the South
     Half of the South Half (S/2 of the S/2) of OCS G 13980 of the Contract Area
     is to provide protection from drainage and reserves and grants no rights to
     Coldren Resources, LP in any acreage earned by the Parties in the drilling
     of the Viosca Knoll Block 207 #2ST #2 well, other than to the retained
     overriding royalty interest, as set out in Exhibit "A", and any well
     information due Coldren Resources, LP as a result of their election not to
     participate and farmout their interest pursuant to and referenced in
     Article 15.C.3. Such condition shall be made express in any Assignment of
     earned area made to Ridgewood.

12. DESIGNATIONS. The Parties agree to execute the necessary designation of
     operator forms and any other forms required by the MMS or other regulatory
     authorities to carry out their operations and to make Chevron the operator
     under the PA, if required, and the OA, with any earning by Ridgewood.

13. OPERATING AGREEMENT. Before earning under the PA and any ratification or
     execution of the Exhibit "B" OA after earning under the PA, Ridgewood
     acknowledges the Chevron interest available to Ridgewood hereunder remains
     bound under this PA and the VK 252 Unit Operating Agreement. Should Chevron
     earn the rights and interest of Coldren Resources LP under the Proposal for
     Development Operation Letter Agreement dated October 10, 2006, between
     Chevron U.S.A. Inc. and Coldren Resources, LP and Ridgewood earn hereunder,
     Ridgewood shall formally execute or ratify the appropriate operating
     agreement, attached hereto as Exhibit "B", only as it pertains to the
     Contract Area and the Viosca Knoll 252 Unit Operating Agreement effective
     January 21, 1994 between Samedan Oil Corporation and Continental Land & Fur
     Co., Inc. for the proportionate rights not held or not made the subject of
     this PA, unless all rights holders, including Coldren Resources, LP, agree
     otherwise. Further, due to the varying ownership in the deep rights, the OA
     will be depth limited to only cover from the surface of the earth to the
     stratigraphic equivalent of the sub sea depth of 15,083' as seen in the
     Samedan Oil Corporation OCS-G 13982 Well No. 1 drilled in Viosca Knoll
     Block 252. Notwithstanding any other provision of this PA that might
     indicate to the contrary, if there is any conflict between any other
     provision of this PA and a provision of the OA, the other provisions of
     this PA shall prevail, as between the Parties.

14. TERM. This PA shall automatically terminate on May 8, 2007 and without
     liability or obligation, unless the Initial Well is timely commenced. Once
     and if a well has been drilled under which Ridgewood participates and earns
     and that entitles Ridgewood to an Assignment as provided above in Article
     5, those PA rights and obligations surviving the earning and the OA shall
     remain in effect as to such Contract Area, so long as the lease

Ridgewood North Jaguar PA
November 1, 2006

                                                                          Page 6
<PAGE>

     within the Contract Area remains in full force and effect or any
     obligations between the Parties remain unsatisfied.

15. REPRESENTATIONS. Chevron's business records reflect with respect to the
Contract Area and North Jaguar Prospect that:

          A.        The Contract Area is dedicated and committed to the
                    following Contracts and Agreements
               1)   Gas Gathering Agreement effective June 14, 2000, between
                    Williams Field Services-Gulf Coast Company, L.P. and Chevron
                    U.S.A. Inc.
               2)   Gas Gathering and Processing Agreement effective March 1,
                    2000, between Chevron U.S.A. Production Company, Samedan Oil
                    Company, Shell Offshore Inc., and Amoco Production Company
                    for the Viosca Knoll 252 Unit, as amended.
               3)   VK 251 "A" Interconnect & Platform Use Agreement dated May
                    30, 2000, between Samedan Oil Corporation, Chevron U.S.A.
                    Inc. and Williams.
               4)   Gas Gathering Agreement dated June 14, 2000.
               5)   Agreement for Capacity Release and Billing Agency dated
                    August 9, 2000.
               6)   Natural Gas Processing Agreement Gulf of Mexico dated March
                    1, 2002, by and between Chevron U.S.A. Inc., Texaco
                    Exploration and Production Inc., and Dynergy Midstream
                    Services, Limited Partnership, as amended, as to depths from
                    the surface through the James Lime formation.
               7)   Letter Agreement dated October 14, 2004, effective August 1,
                    2004, between Noble Energy, Inc. and Chevron, detailing
                    Production Handling Agreement terms for the Viosca Knoll 252
                    Unit area.

          B.        All required filings have been made with the applicable
                    regulatory authorities and Chevron is not aware of any
                    notices, pending or threatened violations of any applicable
                    regulation.

          C.        The Contract Area is subject to the following Contracts and
                    Agreements:
               1)   Viosca Knoll 252 Unit Operating Agreement effective January
                    21, 1994 between Samedan Oil Corporation and Continental
                    Land & Fur Co., Inc., as amended, until contracted, amended
                    and/or terminated.
               2)   Viosca Knoll 252 Unit Agreement, bearing Contract No.
                    754394013 effective February 11, 1994 between Chevron U.S.A.
                    Inc. and Samedan Oil Corporation, as amended, until
                    contracted.
               3)   Proposal for Development Operation Letter Agreement dated
                    October 10, 2006, between Chevron U.S.A. Inc. and Coldren
                    Resources, LP.
               4)   Confidentiality & AMI Agreement dated September 9, 2006
                    between Chevron U.S.A. Inc. and Ridgewood Energy
                    Corporation.
               5)   Offer to Participate Letter Agreement (LOI), dated October
                    17, 2006, as Parties agreed and accepted on October 19,
                    2006, between Ridgewood Energy Corporation and Chevron
                    U.S.A. Inc.

Ridgewood North Jaguar PA
November 1, 2006

                                                                          Page 7
<PAGE>

               6)   Assignment of Operating Rights Interest, dated effective
                    April 1, 1996 and bearing upon OCS-G 13980, between
                    Continental Land & Fur Co., Inc. as Assignor and Samedan Oil
                    Corporation and Chevron U.S.A. Inc. as Assignees.
               7)   Suspension of Production for Lease OCS-G 13980, by MMS
                    approval letter dated November 7, 2006.
               8)   Right of Use and Easement for Lease OCS-G 10926 Viosca Knoll
                    Block 206 (RUE #30012), by MMS approval letter dated
                    November 9, 2006.

          D.   Chevron represents, to the best of its knowledge, that with
               respect to that portion of the leases Chevron is contributing to
               the Contract Area that:
          1)   Chevron has paid rentals and has an approved SOP to maintain the
               lease in full force and effect.
          2)   Chevron is in material compliance with the terms and conditions
               of the lease.
          3)   The lease is not subject to any royalty, overriding royalty, net
               profits interest or other similar burden on production, except as
               referenced above, and the lessor's royalty.
          4)   There are no liens, mortgages, deeds of trust, judgments or other
               encumbrances of any kind or nature on the lease or Chevron's
               working interest in the lease.
          5)   There are no pending claims or litigation relative to the lease.
          6)   There are no preferential purchase rights, consents to assign or
               other restrictions on Chevron's ability to enter into this
               Agreement, other than those addressed in the Coldren Resources,
               LP letter agreement at 15.C 3.
          7)   There are no other owners of working interests in the lease
               included within the Contract Area with the exception of;
                    a.   Coldren Resources, LP.'s ownership rights as set out in
                         the above referenced Article 15.C.3: and,
                    b.   Operating Rights owners of record at the MMS as to all
                         depths below 15,083'.

16. INTEGRATED AGREEMENT. Except as provided in Article 18 below, this PA and
     the Exhibits attached hereto comprise the entire agreement between the
     Parties and supersedes all prior agreements and understandings relating to
     the subject matter hereof, including the LOI, dated October 17, 2006,
     between the Parties. Except as provided in Article 18 below, in the event
     of any conflicts between the provisions of this PA and any other agreement,
     including any operating agreement or any agreement referenced herein as an
     exhibit or to be executed by the Parties hereafter, the provisions of this
     PA shall control, as between the Parties.

17. TAX PARTNERSHIP. The Parties understand and agree that the arrangement and
     undertakings evidenced by this PA, taken together, result in a partnership
     for purposes of Federal income taxation and for purposes of certain state
     income tax laws which incorporate or follow Federal income tax principles
     as to tax partnerships. Such partnership for tax purposes is hereinafter
     referred to as the "Tax Partnership". For every

Ridgewood North Jaguar PA
November 1, 2006

                                                                          Page 8
<PAGE>

     other purpose of this PA, however, and notwithstanding any other provision
     of this PA, express or implied, to the contrary, the Parties understand and
     agree that their legal relationship to each other under applicable state
     law with respect to all property subject to this PA is one of tenants in
     common, or undivided interest owners, or lessee-sublessees, and not one of
     partnership; that the liabilities of the Parties shall be several and not
     joint or collective; and that each Party shall be solely responsible for
     its own obligations. The Tax Partnership shall be governed by Exhibit "F"
     of the attached Exhibit "B" OA. Except as provided in such Exhibit "F", the
     Parties agree not to elect to have the Tax Partnership excluded from the
     application of all or any part of Subchapter K of Chapter One of Subtitle A
     of the Internal Revenue Code of 1986, as amended (the "Code"), from any
     successor provisions thereto under the Code, or from any provisions of
     state income tax laws of substantially the same effect.

18. AREA OF MUTUAL INTEREST. Notwithstanding any other agreement to the
     contrary, and both prior to and after any Ridgewood earning of any interest
     in the Contract Area described herein in Article 1, the Confidentiality &
     AMI Agreement as referenced above in Article 15.C.4 shall survive and will
     control any AMI obligations between the Parties and the Parties further
     agree that the provisions of the referenced Confidentiality & AMI Agreement
     shall take precedence over the PA.

19. PRODUCTION HANDLING AGREEMENT. Within ten days following the commencement of
     the Initial Well, the Parties agree to enter into negotiations of a
     mutually acceptable Production Handling Agreement ("PHA"), if applicable,
     substantially in the form as set out in Exhibit "D".

     The Parties understand that should there be a need for any production
     handling arrangements that extend beyond any Contract Area facilities,
     which would be jointly owned by Chevron and Ridgewood, that the Parties
     will most likely utilize the jointly owned Chevron sixty percent (60%) and
     Coldren Resources, LP forty percent (40%) Viosca Knoll Block 251 "A"
     Facility, and while Chevron will attempt to gain Coldren's acceptance to
     Chevron's terms, Chevron cannot guarantee that Coldren's PHA terms will be
     the same as Chevron's PHA terms.

20. GOVERNING LAW. This PA shall be governed by and in accordance with the laws
     of the State of Alabama, without regard to any choice of law or rule
     thereof that would direct the application of the laws of any other
     jurisdiction.

21. INDIVIDUAL LIABILITY. The rights, duties, elections, obligations, and
     liabilities of the Parties shall be several and not joint or collective,
     and nothing contained herein is intended to create, nor shall it be
     construed as creating, a partnership of any kind (except the tax
     partnership specified in Article 17 above), joint venture, association, or
     other business entity recognizable by law for any purpose. The Parties
     shall be individually responsible only for their own obligations, except as
     herein described.

Ridgewood North Jaguar PA
November 1, 2006

                                                                          Page 9
<PAGE>

22. NOTICES. All notices required hereunder shall be in writing sent by
     certified mail or overnight mail delivery, or by facsimile
     telecommunications to the addresses set forth below, and shall be deemed
     effective when actually received by the addressee, as follows:

                          Ridgewood Energy Corporation
                         11700 Old Katy Road, Suite 280
                                Houston TX 77079
                               Tel: (281)293-8449
                               Fax: (281)293-7705
                                Attn: Greg Tabor
                            Executive Vice President

                              Chevron U.S.A. Inc.
                               935 Gravier Street
                              New Orleans, LA 70112
                               Tel: (504) 592-6356
                               Fax: (504) 592-7110
                              Attn: Gordon R. Cain
                                  Land Manager

23. COUNTERPART EXECUTION. This PA may be executed by signing the original or a
     counterpart thereof with the same force and legal effect as if all
     executions were on one single instrument.

24. SUCCESSORS AND ASSIGNS. This PA shall be binding upon and inure to the
     benefit of the Parties and their respective heirs, representatives,
     successors and assigns. Ridgewood shall not assign their interests in this
     PA or any rights earned hereunder without the prior written consent of
     Chevron, which consent shall not be unreasonably withheld.

25. INSURANCE. Ridgewood shall independently acquire or self-insure for the
     coverage and amounts as shown on Exhibit "B" OA and provide evidence of
     such coverage to Chevron prior to commencement of operations hereunder.
     Such coverage and limits shall not in any way limit any Ridgewood indemnity
     due Chevron.

26. INDEMNITY.

     A.   Ridgewood agrees to protect, indemnify, and save Chevron, its parent,
          subsidiaries, affiliates, and/or successors and the directors,
          officers, employees or agents of each ("Chevron Company Group") free
          and harmless from all obligations, business dealings, liabilities,
          debts, charges, claims, damages, demands, costs (including attorneys'
          fees and court costs), penalties and causes of action arising directly
          or indirectly out of any dealing with third parties Ridgewood has with

Ridgewood North Jaguar PA
November 1, 2006

                                                                         Page 10
<PAGE>

     regard to financing or the assignment of, in whole or in part, any rights
     under this PA and to relieve the Chevron Company Group from any and all
     liability (exclusive of business debts and charges) incurred as a result of
     such actions. The indemnities and covenants of this Article 26 shall be
     effective whether or not such obligations, business dealings, liabilities,
     debts, charges, claims, damages, demands, costs (including attorneys' fees
     and court costs), penalties and causes of action aforesaid are caused
     wholly or partly by negligence attributed to the Chevron Company Group, or
     by any other means, excepting those occurrences involving the gross
     negligence or willful misconduct of the Chevron Company Group.

B. Chevron agrees to protect, indemnify, and save Ridgewood, its parent,
     subsidiaries, affiliates, and/or successors and the directors, officers,
     employees or agents of each ("Ridgewood Company Group") free and harmless
     from all obligations, business dealings, liabilities, debts, charges,
     claims, damages, demands, costs (including attorneys' fees and court
     costs), penalties and causes of action arising directly or indirectly out
     of any dealing with third parties Chevron has with regard to financing or
     the assignment of, in whole or in part, any rights under this PA and to
     relieve the Ridgewood Company Group from any and all liability (exclusive
     of business debts and charges) incurred as a result of such actions. The
     indemnities and covenants of this Article 26 shall be effective whether or
     not such obligations, business dealings, liabilities, debts, charges,
     claims, damages, demands, costs (including attorneys' fees and court
     costs), penalties and causes of action aforesaid are caused wholly or
     partly by negligence attributed to the Ridgewood Company Group, or by any
     other means, excepting those occurrences involving the gross negligence or
     willful misconduct of the Ridgewood Company Group.

C. Chevron shall, as between the Parties, remain solely liable for all
     liabilities, costs and risks of any kind or nature arising out of its
     operations relating to the VK 252 Unit Agreement or the VK 252 Unit
     Operating Agreement that are not related to this PA and in which Ridgewood
     does not participate, including, but not limited to the plugging and
     abandonment and remediation of all existing wells, platforms and other
     facilities on said Unit and under said Unit Operating Agreement ("Chevron
     Retained Claims"). CHEVRON SHALL RELEASE, DEFEND, INDEMNIFY AND HOLD
     RIDGEWOOD COMPANY GROUP HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS,
     CAUSES OF ACTION, LIABILITIES, DAMAGES (INCLUDING COURT COSTS AND
     ATTORNEYS' FEES) AND JUDGEMENTS ARISING OUT OF THE CHEVRON RETAINED CLAIMS.

27. DISCLAIMER OF WARRANTY.

     THIS PA IS MADE WITHOUT ANY WARRANTY OF TITLE. CHEVRON FURTHER DOES NOT
     WARRANT EITHER EXPRESS, STATUTORY OR IMPLIED, AS TO TITLE, MERCHANTABILITY,

Ridgewood North Jaguar PA
November 1, 2006

                                                                         Page 11
<PAGE>

     CONDITION, QUALITY OR FITNESS FOR A PARTICULAR PURPOSE AS TO THE LEASE IN
     THE CONTRACT AREA, AND ALL OTHER PROPERTY COVERED BY THIS PA, INCLUDING,
     BUT NOT LIMITED TO THE WELL BORES, EQUIPMENT AND FACILITIES UTILIZED BY THE
     PARTIES HEREUNDER, OR ANY OTHER SORT OF WARRANTY AND IS WITHOUT RECOURSE
     AGAINST CHEVRON WHATSOEVER, EVEN AS TO THE RETURN OF CONSIDERATION. CHEVRON
     MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING RIDGEWOOD'S RIGHT OF
     INGRESS TO AND EGRESS FROM THE CHEVRON LEASE ACROSS ADJACENT OR ADJOINING
     LANDS.

     CHEVRON SPECIFICALLY DISCLAIMS, AND RIDGEWOOD EXPRESSLY WAIVES ANY IMPLIED
     WARRANTY OF TITLE WITH RESPECT TO THE LEASE IN THE CONTRACT AREA EXCEPT FOR
     THE ACTS BY, THROUGH AND UNDER CHEVRON, BUT NOT OTHERWISE. RIDGEWOOD
     ACKNOWLEDGES THAT THIS EXPRESS WAIVER SHALL BE CONSIDERED A MATERIAL AND
     INTEGRAL PART OF THIS PA AND PART OF THE CONSIDERATION GIVEN THEREFOR.
     RIDGEWOOD FURTHER ACKNOWLEDGES THAT THIS WAIVER HAS BEEN SPECIFICALLY
     BROUGHT TO RIDGEWOOD'S ATTENTION AND THAT RIDGEWOOD HAVE VOLUNTARILY AND
     KNOWINGLY CONSENTED TO THIS WAIVER. THE PARTIES AGREE THAT FOR THE PURPOSES
     OF THIS WAIVER OF THE IMPLIED WARRANTY OF TITLE, CHEVRON AND THEIR
     AFFILIATES SHALL BE CONSIDERED AS THE SELLER.

     RIDGEWOOD ACKNOWLEDGES THAT (i) IT IS A SOPHISTICATED INVESTOR
     AND OPERATOR IN THE OIL AND GAS BUSINESS; (ii) IT UNDERSTANDS THE RISKS
     INVOLVED IN OIL AND GAS EXPLORATION AND DEVELOPMENT; AND (iii) IT
     UNDERSTANDS THAT UNDER ITS PARTICIPATION RIDGEWOOD ASSUMES ALL OF THE RISKS
     ATTENDANT TO THE EXPLORATION AND PRODUCTION OPERATIONS CONTEMPLATED UNDER

Ridgewood North Jaguar PA
November 1, 2006

                                                                         Page 12
<PAGE>

     THIS PA AND THAT THE RIDGEWOOD INVESTMENT MADE HEREUNDER IN THOSE
     OPERATIONS CONDUCTED UNDER THIS PA IS FULLY AT RISK.

Please indicate your agreement to the terms and conditions as set forth in this
PA by executing two originals of this PA in the space provided and returning one
executed original on or before November 22, 2006.

AGREED TO AND ACCEPTED this 15th day of November, 2006

Chevron U.S.A. Inc.

By:    /s/ G. R. Cain
       --------------
       G.R. Cain
       Assistant Secretary

AGREED TO AND ACCEPTED this 20th day of November, 2006.

Ridgewood Energy Corporation

By:    /s/ Greg Tabor
       ---------------
       Greg Tabor

Title: Executive Vice President
       ------------------------

Ridgewood North Jaguar PA
November 1, 2006

                                                                         Page 13
<PAGE>

                                   EXHIBIT "A"
                                   -----------

                              North Jaguar Prospect
                              ---------------------

Attached to and made apart of that certain Participation Agreement dated the 1st
   day of November 2006, by and between Chevron U.S.A. Inc. and Ridgewood Energy
   Corporation

OCS Block: Viosca Knoll Block 207 being 5,760 acres.
---------

Lease: OCS-G 13980
-----

Chevron Leasehold Interest:
---------------------------

One Hundred Percent of eight eights (100% of 8/8ths) from the surface of the
earth to the stratigraphic equivalent of the sub sea depth of 15,083' as seen in
the Samedan Oil Corporation OCS-G 13982 Well No. 1 drilled in Viosca Knoll Block
252, further subject to rights and obligations as set out in the Proposal for
Development Operation Letter Agreement dated October 10, 2006, between Chevron
U.S.A. Inc. and Coldren Resources, LP.

Twenty-five percent of eight eights (25% of 8/8ths) below the stratigraphic
equivalent of the sub sea depth of 15,083' as seen in the Samedan Oil
Corporation OCS-G 13982 Well No. 1 drilled in Viosca Knoll Block 252.

Lease Burdens:
--------------

1/6 of 8/8ths Lessor's royalty in all depths.

2% of 8/8ths overriding royalty in favor of Noble Energy, Inc., from the surface
of the earth to the stratigraphic equivalent of the sub sea depth of 15,083' as
seen in the Samedan Oil Corporation OCS-G 13982 Well No. 1 drilled in Viosca
Knoll Block 252.

2% of 8/8ths overriding royalty in favor of Coldren Resources, LP from the
surface of the earth to the stratigraphic equivalent of the sub sea depth of
15,083' as seen in the Samedan Oil Corporation OCS-G 13982 Well No. 1 drilled in
Viosca Knoll Block 252.

Chevron Interest Before Casing Point (BCP"):            Thirty percent (30%)
-------------------------------------------
Ridgewood Interest BCP:                                 Seventy Percent (70%)
-----------------------

   o      Ridgewood will have and bear the obligation of paying its
          disproportionate share of the Initial Well AFE Cost of sidetracking,
          drilling and logging up to Casing Point or until one hundred fifteen
          percent (115 %) of the associated AFE to drill the Initial Well,
          whichever occurs first, have been spent in the drilling of said
          Initial Well and/or any Substitute Well(s).

Chevron Interest After Casing Point ("ACP"):            Sixty percent (60 %)
-------------------------------------------
Ridgewood Interest ACP:                                 Forty Percent (40 %)
-----------------------

Ridgewood North Jaguar PA
Exhibit A

<PAGE>

BCP and ACP Interest:
---------------------

Both Chevron's and Ridgewood's BCP and ACP interest in the Initial Well are
derived from Chevron's above referenced leasehold interest and only as it
pertains to the depths from the surface of the earth down to the stratigraphic
equivalent of the sub sea depth of 15,083' as seen in the Samedan Oil
Corporation OCS-G 13982 Well No. 1 drilled in Viosca Knoll Block 252. Chevron's
and Ridgewood's ACP Interest in the depths below the stratigraphic equivalent of
the sub sea depth of 15,083' as seen in the Samedan Oil Corporation OCS-G 13982
Well No. 1 drilled in Viosca Knoll Block 252 will be proportionately reduced to
reflect Chevron's twenty-five percent of eight eights (25% 8/8ths) ownership.

Operator: Chevron U.S.A. Inc.
--------

                                   Page 2 of 2

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