Document:

exv4w2

 

EXHIBIT 4.2

$300,000,000

MARINER ENERGY, INC.

71/2% Senior Notes due 2013

EXCHANGE AND REGISTRATION RIGHTS AGREEMENT

April 24, 2006

Lehman Brothers Inc.

J.P. Morgan Securities Inc.

As Representatives of the

      several Initial Purchasers

c/o Lehman Brothers Inc.

745 Seventh Avenue

New York, New York 10019

Ladies and Gentlemen:

          Mariner Energy, Inc., a Delaware corporation (the “Issuer”), propose to issue and sell to
certain initial purchasers (collectively, the “Initial Purchasers”) named in that certain Purchase
Agreement, dated April 19, 2006 (the “Purchase Agreement”), among the Issuer, the Guarantors (as
defined below) and Lehman Brothers Inc. and J.P. Morgan Securities Inc., on behalf of the Initial
Purchasers, upon the terms set forth therein, $300,000,000 aggregate principal amount of the
Issuer’s 71/2% Senior Notes due 2013 (the “Securities”) to be issued pursuant to an indenture, dated
as of the date hereof (the “Indenture”), among the Issuer, the Guarantors and Wells Fargo Bank,
N.A., as trustee, which Securities will be unconditionally guaranteed on a senior unsecured basis
by each of the Guarantors.

          Capitalized terms used herein and not otherwise defined shall have the meanings assigned to
them in the Indenture.

          As an inducement to the Initial Purchasers to enter into the Purchase Agreement and to
purchase the Securities, the Issuers and the Guarantors agree with you for the benefit of the
Holders (as defined below) as follows:

          1. Definitions. As used in this Agreement, the following terms shall have the
following meanings:

     “Affiliate” of any specified Person shall mean any other Person that, directly or
indirectly, is in control of, is controlled by, or is under common control with, such
specified Person. For purposes of this definition, control of a person means the power,

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direct or indirect, to direct or cause the direction of the management and policies of
such Person whether by contract or otherwise; and the terms “controlling” and “controlled”
have meanings correlative to the foregoing.

     “Agreement” shall mean this Exchange and Registration Rights Agreement.

     “Business Day” shall mean any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed.

     “Blackout Period” shall have the meaning set forth in Section 4(b).

     “Blue Sky Application” shall have the meaning set forth in Section 6(a).

     “Closing Date” shall mean the Closing Date as defined in the Purchase Agreement.

     “Effectiveness Target Date” shall have the meaning set forth in Section 2(a).

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to
time.

     “Exchange Date” shall have the meaning set forth in Section 2(a).

     “Exchange Offer” shall mean the exchange offer by the Issuer and the Guarantors of
Exchange Securities for Transfer Restricted Securities pursuant to Section 2(a).

     “Exchange Offer Registration” shall mean a registration under the Securities Act
effected pursuant to Section 2(a).

     “Exchange Offer Registration Statement” shall mean an exchange offer registration
statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments
and supplements to such registration statement, in each case including the Prospectus
contained therein, all exhibits thereto and any document incorporated by reference therein.

     “Exchange Securities” shall mean the securities to be issued by the Issuer and
guaranteed by the Guarantors under the Indenture containing terms substantially identical to
the terms of the Securities (except that the Exchange Securities will not be subject to
restrictions on transfer or to the requirements to pay Special Interest pursuant to Section
2(e)) and to be offered to Holders of Securities in exchange for Securities pursuant to the
Exchange Offer.

     “Guarantors” shall mean each of Mariner LP LLC, Mariner Energy Resources, Inc. and
Mariner Energy Texas LP, together with any Guarantor’s successors and any additional parties
that become guarantors of the Securities under the Indenture.

     “Holders” shall mean the Initial Purchasers, for so long as they own any Transfer
Restricted Securities, and each of their successors, assigns and direct and indirect

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transferees who become owners of Transfer Restricted Securities under the Indenture;
provided that for purposes of Sections 5 and 6, the term “Holders” shall include
Participating Broker-Dealers.

     “Indemnified Person” shall have the meaning set forth in Section 6(c).

     “Indemnifying Person” shall have the meaning set forth in Section 6(c).

     “Initial Purchasers” shall have the meaning set forth in the preamble.

     “Indenture” shall have the meaning set forth in the preamble, as the same may be
amended from time to time in accordance with the terms thereof.

     “Inspector” shall have the meaning set forth in Section 3(o).

     “Issuer” shall have the meaning set forth in the preamble and shall also include the
Issuer’s successors.

     “Issuer FWP” shall have the meaning set forth in Section 6(a).

     “Losses” shall have the meaning set forth in Section 6(a).

     “Majority Holders” shall mean the Holders of a majority of the aggregate principal
amount of Transfer Restricted Securities outstanding from time to time.

     “NASD” shall have the meaning set forth in Section 3(d).

     “NASD Rules” shall have the meaning set forth in Section 3(s).

     “Participating Broker-Dealer” shall have the meaning set forth in Section 5(a).

     “Person” shall mean an individual, partnership, limited liability company, corporation,
trust or unincorporated organization, or a government or agency or political subdivision
thereof.

     “Prospectus” shall mean the prospectus included in a Registration Statement, including
any preliminary prospectus, and any such prospectus as amended or supplemented by any
prospectus supplement, including a prospectus supplement with respect to the terms of the
offering of any portion of the Transfer Restricted Securities covered by a Shelf
Registration Statement, and by all other amendments and supplements to such prospectus, and
in each case including any document incorporated by reference therein.

     “Purchase Agreement” shall have the meaning set forth in the preamble.

     “Registration Default” shall have the meaning set forth in Section 2(e)(vi).

     “Registration Expenses” shall mean any and all expenses incident to performance of or
compliance by the Issuer and the Guarantors with this Agreement, including without
limitation: (i) all SEC, stock exchange or National Association of Securities Dealers, Inc.

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registration and filing fees, (ii) all fees and expenses incurred in connection with
compliance with state securities or blue sky laws (including reasonable fees and
disbursements of counsel for any Underwriters or Holders in connection with blue sky
qualification of any Exchange Securities or Transfer Restricted Securities), (iii) all
expenses of any Persons not otherwise specifically addressed herein in preparing or
assisting in preparing, word processing, printing and distributing any Registration
Statement, any Prospectus and any amendments or supplements thereto, any underwriting
agreements, securities sales agreements or other similar agreements and any other documents
relating to the performance of and compliance with this Agreement, (iv) all rating agency
fees, (v) all fees and disbursements relating to the qualification of the Indenture under
the Trust Indenture Act, and the rules and regulations of the SEC applicable to an indenture
which is qualified thereunder, (vi) the fees and disbursements of the Trustee and its
counsel, (vii) the fees and disbursements of counsel for the Issuer and the Guarantors and,
in the case of a Shelf Registration Statement, the fees and disbursements of one counsel for
the Holders (which counsel shall be Akin Gump Strauss Hauer & Feld unless another firm shall
be selected by the Majority Holders and which counsel may also be counsel for the Initial
Purchasers) and (viii) the fees and disbursements of the independent public accountants and
independent petroleum engineers of the Issuer and the Guarantors including the expenses of
any special audits, “comfort” letters or letters concerning oil and gas reserve estimates,
as applicable, required by or incident to the performance of and compliance with this
Agreement, but excluding fees and expenses of counsel to the Underwriters (other than fees
and expenses set forth in clause (ii) above) or the Holders and underwriting discounts and
commissions and transfer taxes, if any, relating to the sale or disposition of Transfer
Restricted Securities by a Holder.

     “Registration Statement” shall mean any registration statement of the Issuer and the
Guarantors that covers any of the Exchange Securities or Transfer Restricted Securities
pursuant to the provisions of this Agreement and all amendments and supplements to any such
registration statement, including post-effective amendments, in each case including the
Prospectus contained therein, all exhibits thereto and any document incorporated by
reference therein.

     “Reviewed Filings” shall have the meaning set forth in Section 3(k).

     “SEC” shall mean the Securities and Exchange Commission.

     “Securities” shall have the meaning set forth in the preamble.

     “Securities Act” shall mean the Securities Act of 1933, as amended from time to time.

     “Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b).

     “Shelf Filing Date” shall have the meaning set forth in Section 2(b).

     “Shelf Registration” shall mean a registration effected pursuant to Section 2(b).

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     “Shelf Registration Statement” shall mean a “shelf” registration statement of the
Issuer and the Guarantors that covers all the Transfer Restricted Securities (but no other
securities unless approved by the Holders of a majority of the aggregate principal amount of
Transfer Restricted Securities which are to be covered by such Shelf Registration Statement)
on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may
be adopted by the SEC, and all amendments and supplements to such registration statement,
including post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and any document incorporated by reference therein.

     “Special Interest” shall have the meaning set forth in Section 2(e).

     “Staff” shall mean the staff of the SEC.

     “Transfer Restricted Securities” shall mean the Securities; provided that a Security
shall cease to be a Transfer Restricted Security on the earliest to occur of (i) the date on
which such Security has been exchanged by a Person other than a broker-dealer for an
Exchange Security in the Exchange Offer; (ii) following the exchange by a broker-dealer in
the Exchange Offer of a Security for an Exchange Security, the date on which such Exchange
Security is sold to a purchaser who receives from such broker-dealer on or prior to the date
of such sale a copy of the Prospectus contained in the Exchange Offer Registration
Statement; (iii) the date on which such Security has been effectively registered under the
Securities Act and disposed of in accordance with the Shelf Registration Statement; or (iv)
the date on which such Security is distributed to the public pursuant to Rule 144 under the
Securities Act.

     “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time
to time.

     “Trustee” shall mean the trustee with respect to the Securities under the Indenture.

     “Underwriters” shall have the meaning set forth in Section 3.

     “Underwritten Offering” shall mean an offering in which Transfer Restricted Securities
are sold to an Underwriter for reoffering to the public.

     “Unrestricted Securities” shall mean the Securities issued by the Issuer and guaranteed
by the Guarantors under the Indenture containing terms substantially identical to the
Securities (except that the Unrestricted Securities will not be subject to restrictions on
transfer or the requirements to pay Special Interest pursuant to Section 2).

     2. Exchange Offer and Registration Under the Securities Act.

          (a) Exchange Offer. To the extent not prohibited by any applicable law or applicable
policies or interpretations of the Staff, the Issuer and the Guarantors shall (i) within 180 days
(or, if the 180th day is not a Business Day, the next Business Day thereafter) after the
Closing Date, cause to be filed an Exchange Offer Registration Statement covering an offer to the
Holders to exchange all the Transfer Restricted Securities for Exchange Securities, (ii) use

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their respective commercially reasonable efforts to cause the Exchange Offer Registration
Statement to be declared effective under the Securities Act within 270 days (or, if the
270th day is not a Business Day, the next Business Day thereafter) after the Closing
Date (the “Effectiveness Target Date”) and remain effective until the closing of the Exchange
Offer, (iii) as soon as practicable after the effectiveness of the Exchange Offer Registration
Statement, offer the Exchange Securities in exchange for the Securities and (iv) keep the Exchange
Offer open for not less than 30 days (or longer if required by law) after the date notice of the
Exchange Offer is mailed to the Holders. The Issuer and the Guarantors shall use their respective
commercially reasonable efforts to complete the Exchange Offer on the earliest practicable date
after the Exchange Offer Registration Statement has become effective, but in any event on or prior
to the 360th day after the Closing Date, or longer if required by the federal securities
laws.

          The Issuer and the Guarantors shall commence the Exchange Offer by promptly mailing the
related Prospectus, appropriate letters of transmittal and other accompanying documents to each
Holder stating, in addition to such other disclosures as are required by applicable law:

          (i) that the Exchange Offer is being made pursuant to this Agreement and that all
Transfer Restricted Securities validly tendered and not properly withdrawn will be accepted
for exchange;

          (ii) the date of acceptance for exchange (which shall be a period of at least 30 days
from the date such notice is mailed) (the “Exchange Date”);

          (iii) that any Transfer Restricted Security not tendered will remain outstanding and
continue to accrue interest but will not retain any rights under this Agreement;

          (iv) that any Holder electing to have a Transfer Restricted Security exchanged pursuant
to the Exchange Offer will be required to surrender such Transfer Restricted Security,
together with the appropriate letters of transmittal, to the institution and at the address
(located in the Borough of Manhattan, The City of New York) and in the manner specified in
the notice, prior to the close of business on the Exchange Date; and

          (v) that any Holder will be entitled to withdraw its election, not later than the close
of business on the Exchange Date, by sending to the institution and at the address (located
in the Borough of Manhattan, The City of New York) specified in the notice, a telegram,
telex, facsimile transmission or letter setting forth the name of such Holder, the aggregate
principal amount of Transfer Restricted Securities delivered for exchange and a statement
that such Holder is withdrawing its election to have such Securities exchanged.

          As a condition to participating in the Exchange Offer, a Holder will be required to represent
to the Issuer and the Guarantors that (i) any Exchange Securities to be received by it will be
acquired in the ordinary course of its business, (ii) at the time of the commencement of the
Exchange Offer it has no arrangement or understanding with any Person to participate in the
distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of

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the provisions of the Securities Act, (iii) it is not an “affiliate” (within the meaning of
Rule 405 under Securities Act) of the Issuer or any Guarantor, and (iv) it either (A) is not a
broker-dealer or (B) it is a broker-dealer that acquired the Securities for its own account as a
part of its market-making or other trading activities and will deliver a Prospectus in connection
with any resale of such Exchange Securities.

          As soon as practicable after the Exchange Date, the Issuer and the Guarantors shall:

          (i) accept for exchange Transfer Restricted Securities or portions thereof validly
tendered and not properly withdrawn pursuant to the Exchange Offer; and

          (ii) deliver, or cause to be delivered, to the Trustee for cancellation all Transfer
Restricted Securities or portions thereof so accepted for exchange by the Issuer and issue,
and cause the Trustee to promptly authenticate and deliver to each Holder, Exchange
Securities equal in principal amount to the principal amount of the Transfer Restricted
Securities surrendered by such Holder.

          Notwithstanding any other provisions hereof, the Issuer will ensure that (i) any Exchange
Offer Registration Statement complies in all material respects with the Securities Act and the
rules and regulations thereunder, (ii) any Exchange Offer Registration Statement does not, when it
becomes effective, contain an untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein not misleading and (iii) any Prospectus forming part of
any Exchange Offer Registration Statement, and any supplement to such Prospectus, does not include
an untrue statement of a material fact or omit to state a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not
misleading.

          (b) Shelf Registration Statement. If (i) the Issuer, upon advice of its outside counsel,
determines that the Exchange Offer Registration provided for in Section 2(a) above is not available
or may not be completed as soon as practicable after the Exchange Date because it would violate any
applicable law or applicable interpretations of the Staff, (ii) the Exchange Offer is not for any
other reason completed on or prior to the date specified therefor in Section 2(a), or (iii) any
Holder notifies the Issuer prior to the 20th Business Day following the Exchange Date
that it (x) is prohibited by law or the applicable interpretations of the Staff from participating
in the Exchange Offer, (y) may not resell the Exchange Securities acquired by it in the Exchange
Offer to the public without delivering a Prospectus and the Prospectus included in the Exchange
Offer Registration Statement is not appropriate or available for such resales, or (z) is a
broker-dealer and owns Securities acquired directly from the Issuer or an Affiliate of the Issuer,
the Issuer and the Guarantors shall use their respective commercially reasonable efforts to cause
to be filed as soon as practicable after such determination or notification, as the case may be, a
Shelf Registration Statement providing for the resale of all the Transfer Restricted Securities by
the Holders thereof and to have such Shelf Registration Statement declared effective by the SEC.

          If the Issuer and the Guarantors are required to file a Shelf Registration Statement pursuant
to Section 2(b), the Issuer and the Guarantors shall use their respective commercially reasonable
efforts to file the Shelf Registration Statement with the SEC on or prior to the 30th

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day after such filing obligation arises (the “Shelf Filing Date”) and to cause the Shelf
Registration Statement to be declared effective under the Securities Act by the SEC on or prior to
the 90th day after the date on which the Shelf Registration Statement is filed.

          The Issuer and the Guarantors agree to use their respective commercially reasonable efforts to
keep the Shelf Registration Statement continuously effective until the earliest of (i) the time the
Securities covered by the Shelf Registration Statement can be sold pursuant to Rule 144 under the
Securities Act without any limitations under clauses (c), (e), (f) and (h) of Rule 144, (ii) two
years from the Closing Date and (iii) the date on which all Securities registered thereunder have
been disposed of in accordance therewith (the “Shelf Effectiveness Period”). The Issuer and the
Guarantors shall be deemed not to have used their respective commercially reasonable efforts to
keep the Shelf Registration Statement effective during the requisite period if they voluntarily
take any action that would result in Holders of Transfer Restricted Securities covered thereby not
being able to offer and sell such securities during the Shelf Effectiveness Period, unless (i) such
action is required by applicable law, (ii) the Issuer and the Guarantors comply with this Agreement
or (iii) such action is taken by the Issuer in good faith and for valid business reasons (not
including avoidance of the Issuer’s and the Guarantors’ obligations hereunder), including the
acquisition or divestiture of assets, so long as the Issuer and the Guarantors promptly thereafter
comply with the requirements of Section 3(i), if applicable.

          The Issuer and the Guarantors further agree to supplement or amend the Shelf Registration
Statement and the related Prospectus if required by the rules, regulations or instructions
applicable to the registration form used by the Issuer for such Shelf Registration Statement or by
the Securities Act or by any other rules and regulations thereunder for shelf registrations or if
reasonably requested by a Holder of Transfer Restricted Securities with respect to information
relating to such Holder, and to use their respective commercially reasonable efforts to cause any
such amendment to become effective and such Shelf Registration Statement and Prospectus to become
usable as soon as thereafter practicable. The Issuer and the Guarantors agree to furnish to the
Holders of Transfer Restricted Securities copies of any such supplement or amendment promptly after
its being filed with (in the case of a supplement) or declared effective by (in the case of an
amendment) the SEC. Each Holder participating in such Shelf Registration Statement shall notify
the Issuer promptly of any sale of Securities by it.

          The Company may require each Holder of Securities to be sold pursuant to the Shelf
Registration Statement to furnish to the Company such information regarding the Holder and the
distribution of the Securities as the Company may from time to time reasonably require for
inclusion in the Shelf Registration Statement, including requiring the Holder to properly complete
and execute such selling Security Holder notice and questionnaires, and any amendments or
supplements thereto, as the Company may reasonably deem necessary or appropriate, and the Company
may exclude from such registration the Securities of any Holder that fails to furnish such
information within a reasonable time after receiving such request.

          Notwithstanding any other provisions of this Agreement to the contrary, the Issuer shall cause
the Shelf Registration Statement and the related Prospectus and any amendment or supplement
thereto, as of its respective effective date, (i) to comply in all material respects with the
applicable requirements of the Securities Act and the rules and regulations of the SEC and (ii) not
to contain any untrue statement of a material fact or omit to state a material fact required

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to be stated therein or necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

          (c) Registration Expenses. The Issuer shall pay all Registration Expenses in connection with
any registration pursuant to Section 2(a) and Section 2(b) hereof. Each Holder shall pay all
underwriting discounts and commissions and transfer taxes, if any, relating to the sale or
disposition of such Holder’s Transfer Restricted Securities pursuant to the Shelf Registration
Statement or, if a Participating Broker-Dealer, relating to the sale or disposition pursuant to the
Exchange Offer Registration Statement.

          (d) Conditions to Exchange Offer. The Issuer and the Guarantors shall use their respective
commercially reasonable efforts to complete the Exchange Offers as provided above and shall comply
with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws
and regulations in connection with the Exchange Offer. The Exchange Offer shall not be subject to
any conditions, other than that (i) the Exchange Offer shall not violate applicable law, policy or
any applicable interpretation of the Staff, (ii) no action or proceeding shall have been instituted
or threatened in any court or by any governmental agency which has resulted or could reasonably be
expected to result in a temporary or permanent injunction prohibiting the Issuer from proceeding
with the Exchange Offer and (iii) all governmental approvals shall have been obtained, which
approvals the Issuer deems necessary (based on advice of outside counsel) for the consummation of
the Exchange Offer. The Issuer shall inform the Initial Purchasers, upon their request, of the
names and addresses of the Holders to whom any Exchange Offer is made, and the Initial Purchasers
shall have the right, subject to applicable law, to contact such Holders and otherwise facilitate
the tender of Securities in any Exchange Offer.

          (e) Special Interest. The Issuer shall pay, as liquidated damages, additional cash interest
(“Special Interest”) on the Transfer Restricted Securities if:

          (i) the Issuer and the Guarantors fail to file an Exchange Offer Registration Statement
with the SEC on or prior to the 180th day after the Closing Date;

          (ii) the Exchange Offer Registration Statement is not declared effective by the SEC on
or prior to the Effectiveness Target Date;

          (iii) the Exchange Offer is not consummated on or before the 360th day after
the Closing Date;

          (iv) the Issuer and the Guarantors are obligated to file a Shelf Registration Statement
pursuant to Section 2(b), and the Issuer and the Guarantors fail to file the Shelf
Registration Statement with the SEC on or prior to the Shelf Filing Date;

          (v) the Issuer and the Guarantors are obligated to file a Shelf Registration Statement
pursuant to Section 2(b), the Shelf Registration Statement is not declared effective under
the Securities Act by the SEC on or prior to the 90th day after the Shelf Filing
Date; or

          (vi) after the Exchange Offer Registration Statement or the Shelf Registration
Statement, as the case may be, is declared effective, such Registration

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Statement thereafter ceases to be effective or usable during the period in which such
Registration Statement is required to be effective and usable pursuant to this Agreement
(each such event referred to in this clause (vi) and the preceding clauses (i) through (v)
being called a “Registration Default”),

from and including the date on which any such Registration Default shall occur but excluding the
date on which all Registration Defaults have been cured.

          A Registration Default referred to in paragraphs (iv), (v) or (vi) of this Section 2(e) shall
be deemed not to have occurred and be continuing in relation to a Shelf Registration Statement or
the related Prospectus if such Registration Default has occurred as a result of any event of the
kind described in Section 3(e)(v); provided, however, that Special Interest shall be payable in
accordance with the above paragraph from the day such Registration Default occurs until such
Registration Default is cured if such Registration Default occurs for a continuous period in excess
of 60 days.

          The rate of the Special Interest will be $0.05 per week per $1,000 principal amount of
Transfer Restricted Securities for the first 90-day period immediately following the occurrence of
a Registration Default, and such rate will increase by an additional $0.05 per week per $1,000
principal amount of Transfer Restricted Securities with respect to each subsequent 90-day period
until all Registration Defaults have been cured, up to a maximum additional interest rate of $0.50
per week per $1,000 principal amount of Transfer Restricted Securities. Such Special Interest will
be in addition to any other interest payable from time to time with respect to the Transfer
Restricted Securities.

          All accrued Special Interest shall be paid to the Holders entitled thereto, in the manner
provided for the payment of interest in the Indenture, on each interest payment date, as more fully
set forth in the Indenture and the Securities. Notwithstanding the fact that any Securities for
which Special Interest are due cease to be Transfer Restricted Securities, all obligations of the
Issuer to pay Special Interest with respect to Securities shall survive until such time as such
obligations with respect to such Securities shall have been satisfied in full.

          An Exchange Offer Registration Statement pursuant to Section 2(a) or a Shelf Registration
Statement pursuant to Section 2(b) will not be deemed to have become effective unless it has been
declared effective by the SEC.

          3. Registration Procedures. In connection with their obligations pursuant to Section
2(a) and Section 2(b), the Issuer and the Guarantors shall as expeditiously as possible:

          (a) prepare and file with the SEC a Registration Statement on the appropriate form under the
Securities Act, in accordance with the applicable periods provided in Section 2, which form (x)
shall be selected by the Issuer and the Guarantors (y) shall, in the case of a Shelf Registration,
be available for the sale of the Transfer Restricted Securities by the selling Holders thereof and
(z) shall comply as to form in all material respects with the requirements of the applicable form;
and use their respective commercially reasonable efforts to cause such Registration Statement to
become effective and remain effective for the applicable periods in accordance with Section 2 and
Section 4;

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          (b) prepare and file with the SEC such amendments and post-effective amendments to each
Registration Statement as may be necessary to keep such Registration Statement effective for the
applicable periods in accordance with Section 2 and Section 4 and cause each Prospectus to be
supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to
Rule 424 under the Securities Act; and keep each Prospectus current during the period described in
Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers
or dealers with respect to the Transfer Restricted Securities or Exchange Securities;

          (c) in the case of a Shelf Registration, furnish to each Holder and each Participating
Broker-Dealer of Transfer Restricted Securities, to counsel for the Initial Purchasers, to counsel
for such Holders and to each Underwriter of an Underwritten Offering of Transfer Restricted
Securities, if any, without charge, as many copies of each Prospectus, including each preliminary
Prospectus, and any amendment or supplement thereto, in order to facilitate the sale or other
disposition of the Transfer Restricted Securities thereunder; and the Issuer and the Guarantors
consent to the use of such Prospectus and any amendment or supplement thereto in accordance with
applicable law by each of the selling Holders of Transfer Restricted Securities and any such
Underwriters in connection with the offering and sale of the Transfer Restricted Securities covered
by and in the manner described in such Prospectus or any amendment or supplement thereto in
accordance with applicable law;

          (d) use their respective commercially reasonable efforts to register or qualify the Transfer
Restricted Securities under all applicable state securities or blue sky laws of such jurisdictions
as any Holder of Transfer Restricted Securities covered by a Registration Statement shall
reasonably request in writing by the time the applicable Registration Statement is declared
effective by the SEC; cooperate with the Holders in connection with any filings required to be made
with the National Association of Securities Dealers, Inc. (the “NASD”); and do any and all other
acts and things that may be reasonably necessary or advisable to enable each Holder to complete the
disposition in each such jurisdiction of the Transfer Restricted Securities owned by such Holder;
provided that neither the Issuer nor any Guarantor shall be required to (i) qualify as a foreign
corporation or other entity or as a dealer in securities in any such jurisdiction where it would
not otherwise be required to so qualify, (ii) file any general consent to service of process in any
such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not so
subject;

          (e) in the case of a Shelf Registration, notify each Holder of Transfer Restricted Securities,
counsel for such Holders and counsel for the Initial Purchasers promptly and, if requested by any
such Holder or counsel, confirm such advice in writing (i) when a Registration Statement and any
amendment thereto has become effective and when any post-effective amendment thereto has been filed
and becomes effective, (ii) of any request by the SEC or any state securities authority for
amendments and supplements to a Registration Statement and Prospectus or for additional information
after the Registration Statement has become effective, (iii) of the issuance by the SEC or any
state securities authority of any stop order suspending the effectiveness of a Registration
Statement or the initiation of any proceedings for that purpose, (iv) if, between the effective
date of a Registration Statement and the closing of any sale of Transfer Restricted Securities
covered thereby, the representations and warranties of the Issuer or any Guarantor contained in any
underwriting agreement, securities sales agreement or other similar agreement, if any, relating to
an offering of such Transfer Restricted Securities cease to

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be true and correct in all material respects or if the Issuer or any Guarantor receives any
notification with respect to the suspension of the qualification of the Transfer Restricted
Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, (v)
of the happening of any event during the period a Shelf Registration Statement or Exchange Offer
Registration Statement is effective that requires the making of any changes in such Registration
Statement or Prospectus so that as of such date, such Registration Statement or Prospectus does not
include an untrue statement of material fact or omit to state a material fact necessary to make the
statements therein (in the case of the Prospectus, in the light of the circumstances under which
they were made) not misleading or upon discovery that such Registration Statement or Prospectus
includes an untrue statement of a material fact or omits to state a material fact necessary to make
the statements therein (in the case of the Prospectus, in the light of the circumstances under
which they were made) not misleading (which advice shall be accompanied by an instruction to
suspend the use of the Prospectus until the requisite changes have been made) and (vi) of any
determination by the Issuer or any Guarantor that a post-effective amendment to a Registration
Statement would be appropriate;

          (f) use their respective commercially reasonable efforts to obtain the withdrawal of any order
suspending the effectiveness of a Registration Statement at the earliest possible moment and
provide immediate notice to each Holder of the withdrawal of any such order;

          (g) in the case of a Shelf Registration, furnish to each Holder of Transfer Restricted
Securities, without charge, at least one conformed copy of each Registration Statement and any
post-effective amendment thereto including financial statements and schedules, and, if the Holder
so requests in writing, all exhibits thereto (including those, if any, incorporated by reference);

          (h) in the case of a Shelf Registration, cooperate with the selling Holders of Transfer
Restricted Securities to facilitate the timely preparation and delivery of certificates
representing Transfer Restricted Securities to be sold and not bearing any restrictive legends and
enable such Transfer Restricted Securities to be issued in such denominations and registered in
such names (consistent with the provisions of the Indenture) as the selling Holders may reasonably
request at least one Business Day prior to the closing of any sale of Transfer Restricted
Securities;

          (i) upon the occurrence of any event contemplated by Section 3(e)(v), use their respective
commercially reasonable efforts to prepare and file with the SEC a supplement or post-effective
amendment to a Registration Statement or the related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter delivered to
purchasers of the Transfer Restricted Securities, such Prospectus will not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading; and the
Issuer shall notify the Holders of Transfer Restricted Securities to suspend use of the Prospectus
as promptly as practicable after the occurrence of such an event, and such Holders hereby agree to
suspend use of the Prospectus until the Issuer have amended or supplemented the Prospectus to
correct such misstatement or omission;

          (j) a reasonable time prior to the filing of any Registration Statement, any Prospectus, any
pre-effective amendment to a Registration Statement or a Prospectus and, in the

12

 

case of an Underwritten Offering, any post-effective amendment to a Registration Statement, or
supplement to a Prospectus filed during the period in which a Prospectus is required to be
delivered in connection with such Underwritten Offering (collectively, the “Reviewed Filings”)
(excluding any document that is to be incorporated by reference into a Registration Statement or a
Prospectus after initial filing of a Registration Statement), provide copies of such document to
the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, to
the Holders of Transfer Restricted Securities and their counsel) and make such of the
representatives of the Issuer and the Guarantors as shall be reasonably requested by the Initial
Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Holders of
Transfer Restricted Securities or their counsel) available for discussion of such document; and the
Issuer and the Guarantors shall not make any Reviewed Filing (excluding any document that is to be
incorporated by reference into a Registration Statement or a Prospectus), of which the Initial
Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Holders of
Transfer Restricted Securities and their counsel) shall not have previously been advised and
furnished a copy or to which the Initial Purchasers or their counsel (and, in the case of a Shelf
Registration Statement, the Holders of Transfer Restricted Securities or their counsel) shall
reasonably object;

          (k) obtain a CUSIP number for all Exchange Securities or Transfer Restricted Securities, as
the case may be, not later than the effective date of a Registration Statement, and provide the
Trustee with certificates for such Exchange Securities or Transfer Restricted Securities, in a form
eligible for deposit with The Depository Trust Company;

          (l) comply with all applicable rules and regulations of the SEC and shall make generally
available to its Holders as soon as practicable after the effective date of the applicable
Registration Statement an earnings statement satisfying the provisions of Section 11(a) of the
Securities Act, no later than 45 days after the end of a 12-month period (or 90 days, if such
period is a fiscal year) beginning with the first month of the Issuer’s first fiscal quarter
commencing after the effective date of the Registration Statement, which statement shall cover such
12-month period;

          (m) cause the Indenture to be qualified under the Trust Indenture Act in connection with the
registration of the Exchange Securities or Transfer Restricted Securities, as the case may be;
cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be
required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture
Act; execute, and use their respective commercially reasonable efforts to cause the Trustee to
execute, all documents as may be required to effect such changes and all other forms and documents
required to be filed with the SEC to enable the Indenture to be so qualified in a timely manner;
and in the event that such qualification would require the appointment of a new trustee under the
Indenture, appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture;

          (n) in the case of a Shelf Registration, make available for inspection by a representative of
the Holders of the Transfer Restricted Securities (an “Inspector”), any Underwriter participating
in any disposition pursuant to such Shelf Registration Statement, and attorneys, accountants or
other agents designated by the Holders or any Underwriter, at reasonable times and in a reasonable
manner (including, if so requested, prior to the effectiveness of such Shelf Registration Statement
and each post-effective amendment thereto and each

13

 

closing under any underwriting or similar agreement as and to the extent required thereunder),
all pertinent financial and other records, documents and properties of the Issuer and the
Guarantors and cause the respective officers, directors and employees of the Issuer and the
Guarantors to supply all information reasonably requested by any such Inspector, Underwriter,
attorney, accountant or agent in connection with a Shelf Registration Statement; provided that if
any such information is identified in writing by the Issuer or any Guarantor as being confidential
or proprietary, each Person receiving such information shall take such actions as are reasonably
necessary to protect the confidentiality of such information to the extent such action is otherwise
not inconsistent with applicable law or such information becomes available to the public generally
or through a third party without an accompanying obligation of confidentiality other than as a
result of disclosure of such information by any such Person;

          (o) in the case of a Shelf Registration, use their respective commercially reasonable efforts
to cause all Transfer Restricted Securities to be listed on any securities exchange or any
automated quotation system, if any, on which the Exchange Securities are then listed, if requested
by the Holders of a majority in principal amount of the Transfer Restricted Securities included in
the Shelf Registration, to the extent such Transfer Restricted Securities satisfy applicable
listing requirements;

          (p) if reasonably requested by any Holder of Transfer Restricted Securities covered by a
Registration Statement, promptly incorporate in a Prospectus supplement or post-effective amendment
such information with respect to such Holder as such Holder reasonably requests to be included
therein and make all required filings of such Prospectus supplement or such post-effective
amendment as soon as practicable as the Issuer has received notification of the matters to be
incorporated in such filing;

          (q) in the event that any broker-dealer registered under the Exchange Act shall underwrite any
Securities or Exchange Securities or participate as a member of an underwriting syndicate or
selling group or “assist in the distribution” (within the meaning of the Conduct Rules (the “NASD
Rules”) of the NASD) thereof, whether as a Holder of such Securities or Exchange Securities or as
an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise,
assist such broker-dealer in complying with the requirements of such NASD Rules, including, without
limitation, by (i) if such NASD Rules, including NASD Rule 2720, shall so require, engaging a
“qualified independent underwriter” (as defined in NASD Rule 2720) to participate in the
preparation of the Registration Statement relating to such Securities or Exchange Securities, to
exercise usual standards of due diligence in respect thereto and, if any portion of the offering
contemplated by such Registration Statement is an underwritten offering or is made through a
placement or sales agent, to recommend the yield of such Securities or Exchange Securities, (ii)
indemnifying any such qualified independent underwriter to the extent of the indemnification of
underwriters provided in Section 6 hereof and (iii) providing such information to such
broker-dealer as may be required in order for such broker-dealer to comply with the requirements of
the Rules; and

          (r) in the case of a Shelf Registration, enter into such customary agreements (including
underwriting agreements) and take all such other actions in connection therewith (including those
requested by the Holders of a majority in principal amount of the Transfer Restricted Securities
being sold ) in order to expedite or facilitate the registration or the disposition of such
Transfer Restricted Securities including, but not limited to, in an

14

 

Underwritten Offering and in such connection, (i) make representations and warranties to the
Holders and any Underwriters of such Transfer Restricted Securities with respect to the business of
the Issuer and its subsidiaries, the Registration Statement, Prospectus and documents incorporated
by reference or deemed incorporated by reference, if any, in each case, in form, substance and
scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the
same if and when requested, (ii) obtain opinions of counsel to the Issuer and the Guarantors (which
opinions, with the consent of the Underwriters (such consent not to be unreasonably withheld), may
include the opinion of the Issuer’s in-house counsel with respect to certain matters and which
shall be reasonably satisfactory to such Underwriters and their counsel) addressed to each
Underwriter of Transfer Restricted Securities, covering the matters customarily covered in opinions
requested in underwritten offerings, (iii) obtain “comfort” letters from the independent certified
public accountants of the Issuer and the Guarantors, as applicable (and, if necessary, any other
certified public accountant of any subsidiary of the Issuer or any Guarantor (as applicable), or of
any business acquired by the Issuer or any Guarantor for which financial statements and financial
data are or are required to be included in the Registration Statement) addressed to each
Underwriter of Transfer Restricted Securities, such letters to be in customary form and covering
matters of the type customarily covered in “comfort” letters in connection with underwritten
offerings, (iv) obtain oil and gas reserve report letters from independent petroleum engineering
firms, (v) cause any underwriting agreement entered into in connection therewith to contain
indemnification provisions and procedures no less favorable than those set forth in Section 6 (or
such other provisions and procedures acceptable to the Majority Holders and the Underwriters, if
any) with respect to all parties to be indemnified pursuant to Section 6, and (vi) deliver such
documents and certificates as may be reasonably requested by the Holders of a majority in principal
amount of the Transfer Restricted Securities being sold or the Underwriters, and which are
customarily delivered in underwritten offerings, to evidence the continued validity of the
representations and warranties of the Issuer and the Guarantors made pursuant to clause (i) above
and to evidence compliance with any customary conditions contained in an underwriting agreement;
provided, however, that the Issuer and the Guarantors shall not be responsible for payment of any
underwriter discounts or commissions.

          The foregoing actions set forth in clauses (i), (ii), (iii) and (v) of this Section 3(r) shall
be performed at (A) the effectiveness of such Shelf Registration Statement and each post-effective
amendment thereto and (B) each closing under any underwriting or similar agreement as and to the
extent required thereunder.

          The Issuer shall use its commercially reasonable efforts to take all other steps necessary to
effect the registration of the Securities covered by a Registration Statement contemplated hereby.

          The Company shall not, without the prior consent of the Initial Purchasers (such consent not
to be unreasonably withheld), make any offer relating to the Securities that would reasonably be
expected to constitute a “free writing prospectus,” as defined in Commission Rule 405.

          In the case of a Shelf Registration Statement, the Issuer may require each Holder of Transfer
Restricted Securities to furnish to the Issuer such information regarding such Holder and the
proposed disposition by such Holder of such Transfer Restricted Securities as the Issuer may from
time to time reasonably request in writing.

15

 

          The Holders of Transfer Restricted Securities covered by a Shelf Registration Statement who
desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering. In any
such Underwritten Offering, the investment banker or investment bankers and manager or managers
(the “Underwriters”) that will administer the offering will be selected by the Majority Holders of
the Transfer Restricted Securities included in such offering, subject to the Company’s consent
(such consent not to be unreasonably withheld, conditioned or delayed).

          4. Blackout Periods

          (a) In the case of a Shelf Registration Statement, each Holder of Transfer Restricted
Securities agrees that, upon receipt of any notice from the Issuer of the happening of any event of
the kind described in Section 3(e)(iii), 3(e)(iv) or 3(e)(v), such Holder will forthwith
discontinue disposition of Transfer Restricted Securities pursuant to a Registration Statement
until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 3(i) or notice from the Issuer that the use of the Prospectus may be resumed, and, if so
directed by the Issuer, such Holder will deliver to the Issuer all copies in its possession, other
than permanent file copies then in such Holder’s possession, of the Prospectus covering such
Transfer Restricted Securities that is current at the time of receipt of such notice. The Issuer
and the Guarantors agree to proceed promptly and in good faith to amend or supplement (including by
way of filing documents under the Exchange Act which are incorporated by reference into the related
Prospectus to describe such events) such Registration Statement.

          (b) If the Issuer shall give any such notice to suspend the disposition of Transfer Restricted
Securities pursuant to a Registration Statement, the Issuer shall extend the period during which
the Registration Statement shall be maintained effective pursuant to this Agreement by the number
of days during the period from and including the date of the giving of such notice to and including
the date when the Holders shall have received copies of the supplemented or amended Prospectus or
notice from the Issuer necessary to resume such dispositions (such period, a “Black-out Period”).
The Issuer may give any such notice only three times during any 365-day period and any such
suspensions shall not exceed 60 days for each suspension and 90 days in the aggregate for all
suspensions during any 365-day period and there shall not be more than three suspensions in effect
during any 365-day period; provided, however, that a suspension for a period not to exceed 7 days
that occurs solely as a result of the filing of a post-effective amendment to a Registration
Statement to incorporate annual or quarterly financial information with respect to the Issuer and
its subsidiaries where such post-effective amendment is not yet effective and needs to be declared
effective to permit Holders to use the related Prospectus shall not be deemed a suspension for
purposes of calculating the limits set forth in this sentence; provided, further, that in any case,
if such Blackout Period occurs for a continuous period in excess of 60 days, a Registration Default
shall be deemed to have occurred on the 61st day of such Blackout Period and Special
Interest shall be payable in accordance with Section 2(e) from the day such Registration Default
occurs until such Registration Default is cured or until the Issuer and the Guarantors are no
longer required pursuant to this Agreement to keep such Registration Statement effective or such
Registration Statement or the related Prospectus usable.

          5. Participation of Broker-Dealers in Exchange Offer.

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          (a) The Staff has taken the position that any broker-dealer that receives Exchange Securities
for its own account in the Exchange Offer in exchange for Securities that were acquired by such
broker-dealer as a result of market-making or other trading activities (a “Participating
Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and
must deliver a prospectus meeting the requirements of the Securities Act in connection with any
resale of such Exchange Securities.

          The Issuer and the Guarantors understand that it is the Staff’s position that if the
Prospectus contained in the Exchange Offer Registration Statement includes a plan of distribution
containing a statement to the above effect and setting forth the means by which Participating
Broker-Dealers may resell the Exchange Securities, without naming the Participating Broker-Dealers
or specifying the amount of Exchange Securities owned by them, such Prospectus may be delivered by
Participating Broker-Dealers to satisfy their prospectus delivery obligation under the Securities
Act in connection with resales of Exchange Securities for their own accounts, so long as the
Prospectus otherwise meets the requirements of the Securities Act.

          (b) In light of the above, and notwithstanding the other provisions of this Agreement, the
Issuer and the Guarantors agree to amend or supplement the Prospectus contained in the Exchange
Offer Registration Statement, as would otherwise be contemplated by Section 3(i), and to use their
respective commercially reasonable efforts to keep the Exchange Offer Registration Statement
continuously effective for a period of at least 90 days following the Exchange Date or such longer
period not to exceed 150 days if reasonably requested in writing by one or more Participating
Broker-Dealers, in order to expedite or facilitate the disposition of any Exchange Securities by
Participating Broker-Dealers or other Persons, if any, with similar Prospectus delivery
requirements, consistent with the positions of the Staff recited in Section 5(a) above. The Issuer
and the Guarantors further agree that Participating Broker-Dealers, and other Persons, if any,
shall be authorized to deliver such Prospectus during such period in connection with the resales
contemplated by this Section 5.

          The Issuer and the Guarantors shall provide sufficient copies of the latest version of the
Prospectus to Participating Broker-Dealers promptly upon request at any time during such 90-day
period (or such longer period as may be requested pursuant to the foregoing paragraph) in order to
facilitate resales.

          (c) The Initial Purchasers shall have no liability to the Issuer, any Guarantor, or any Holder
with respect to any request that they may make pursuant to Section 5(b) above.

          6. Indemnification and Contribution.

          (a) Each of the Issuer and each Guarantor, jointly and severally, agree to indemnify and hold
harmless each Initial Purchaser and each Holder and with respect to any Prospectus delivery as
contemplated by Section 5, each Participating Broker-Dealer, their respective Affiliates,
directors, officers, employees and agents and each Person, if any, who controls any Initial
Purchaser or any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act, from and against any and all losses, claims, damages and liabilities or any action in
respect thereof (including, but not limited to, any loss, claim, damage, liability or action
relating to purchases and sales of Securities and/or Exchange Securities and

17

 

without limitation, legal fees and other expenses incurred in connection with any suit, action
or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several
(“Losses”), that arise out of, or are based upon, (i) any untrue statement or alleged untrue
statement of a material fact contained in (A) any Registration Statement or any Prospectus or in
any “issuer free writing prospectus,” as defined in Commission Rule 433 (“Issuer FWP”) or (B) any
blue sky application or other document prepared or executed by the Issuer or any Guarantor (or
based upon any written information furnished by the Issuer or any Guarantor) specifically for the
purpose of qualifying any or all of the Transfer Restricted Securities or Exchange Securities under
the securities laws of any state or other jurisdiction (any such application, document or
information being hereinafter called a “Blue Sky Application”) or (ii) any omission or alleged
omission to state therein a material fact required to be stated therein or necessary in order to
make the statements therein, in the light of the circumstances under which they were made, not
misleading or (iii) any act or failure to act, or any alleged act or failure to act, by any such
Initial Purchaser or Holder in connection with, or relating in any manner to, the Transfer
Restricted Securities or the Exchange Securities or any Exchange Offer contemplated hereby, and
which is included as part of or referred to in any Losses arising out of or based upon matters
covered by clause (i) or (ii) above (provided that the Issuer and the Guarantors shall not be
liable in the case of any matter covered by this clause (iii) to the extent that it is determined
in a final judgment by a court of competent jurisdiction that such Losses resulted solely from any
such act or failure to act undertaken or omitted to be taken by such Initial Purchaser or Holder,
as the case may be, through its gross negligence or willful misconduct), and shall reimburse each
such Initial Purchaser or Holder and each such officer, director, employee, agent or controlling
person promptly upon written demand for any legal or other expenses reasonably incurred by that
Initial Purchaser or Holder, officer, director, employee, agent or controlling person in connection
with investigating or defending or preparing to defend against any such Losses as such expenses are
incurred; provided, however, that the Issuer and the Guarantors shall not be liable in any such
case to the extent that any such Losses arises out of, or is based upon, any untrue statement or
alleged untrue statement or omission or alleged omission made in any Prospectus, Registration
Statement, Issuer FWP or Blue Sky Application in reliance upon and in conformity with the written
information concerning such Initial Purchaser or Holder furnished to the Issuer by or on behalf of
such Initial Purchaser or Holder specifically for inclusion therein. The foregoing indemnity
agreement is in addition to any liability which the Issuer may otherwise have to any Holder or to
any officer, director, employee, agent or controlling person of that Holder.

          (b) Each Holder of Transfer Restricted Securities and Exchange Securities covered by a
Registration Statement agrees, severally and not jointly, to indemnify and hold harmless the
Issuer, the Guarantors, the Initial Purchasers and the other selling Holders, the directors of the
Issuer and the Guarantors each officer of the Issuer and the Guarantors who signed the Registration
Statement and each Person, if any, who controls the Issuer, the Guarantors any Initial Purchaser
and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only
with respect to any Losses that arise out of, or are based upon, any untrue statement or omission
or alleged untrue statement or omission made in reliance upon and in conformity with any
information relating to such Holder furnished to the Issuer in writing by or on behalf of such
Holder expressly for use in any Registration Statement, any Prospectus, any Issuer FWP and any Blue
Sky Application.

18

 

          (c) If any suit, action, proceeding (including any governmental or regulatory investigation),
claim or demand shall be brought or asserted against any Person in respect of which indemnification
may be sought pursuant to either paragraph (a) or (b) above, such Person (the “Indemnified Person”)
shall promptly notify the Person against whom such indemnification may be sought (the “Indemnifying
Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve
it from any liability that it may have under this Section 6 except to the extent that it has been
materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure;
and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from
any liability that it may have to an Indemnified Person otherwise than under this Section 6. If
any such proceeding shall be brought or asserted against an Indemnified Person and it shall have
notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably
satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled
to indemnification pursuant to this Section 6 that the Indemnifying Person may designate in such
proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as
incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified
Person unless the Indemnified Person shall have reasonably concluded that there may be legal
defenses available to it that are different from or in addition to those available to other
Indemnified Persons or the Indemnifying Person. It is understood and agreed that the Indemnifying
Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction,
be liable for the fees and expenses of more than one separate firm (in addition to any local
counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as
they are incurred. Any such separate firm (i) for any Initial Purchaser, its Affiliates, directors
and officers and any control Persons of such Initial Purchaser shall be designated in writing by
Lehman Brothers Inc. on behalf of the Initial Purchasers, (ii) for any Holder, its Affiliates,
directors and officers and any control Persons of such Holder shall be designated in writing by the
Majority Holders and (iii) in all other cases shall be designated in writing by the Issuer. The
Indemnifying Person shall not be liable for any settlement of any proceeding effected without its
written consent, but if settled with such consent or if there be a final judgment for the
plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any
loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing
sentence, if at any time an Indemnified Person shall have requested that an Indemnifying Person
reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this
paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected
without its written consent if (i) such settlement is entered into more than 30 days after receipt
by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have
reimbursed the Indemnified Person in accordance with such request prior to the date of such
settlement. No Indemnifying Person shall, without the written consent of the Indemnified Person,
effect any settlement of any pending or threatened proceeding in respect of which any Indemnified
Person is or could have been a party and indemnification could have been sought hereunder by such
Indemnified Person, unless such settlement (A) includes an unconditional release of such
Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from
all liability on claims that are the subject matter of such proceeding and (B) does not include any
statement as to or any admission of fault, culpability or a failure to act by or on behalf of any
Indemnified Person.

          (d) If the indemnification provided for in paragraphs (a) and (b) above is unavailable to an
Indemnified Person or insufficient in respect of any Losses referred to therein,
 

19

 

then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified
Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a
result of such Losses (i) in such proportion as is appropriate to reflect the relative benefits
received by the Issuer and the Guarantors from the offering of the Securities and the Exchange
Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities
registered under the Securities Act, on the other hand, or (ii) if the allocation provided by
clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) but also the relative fault of the Issuer and
the Guarantors on the one hand, and the Holders on the other in connection with the statements or
omissions that resulted in such Losses, as well as any other relevant equitable considerations.
The relative fault of the Issuer and the Guarantors on the one hand and the Holders on the other
shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates
to information supplied by the Issuer and the Guarantors or by the Holders and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission.

          (e) The Issuer, the Guarantors and the Holders agree that it would not be just and equitable
if contribution pursuant to this Section 6 were determined by pro rata allocation (even if the
Holders were treated as one entity for such purpose) or by any other method of allocation that does
not take account of the equitable considerations referred to in paragraph (d) above. The amount
paid or payable by an Indemnified Person as a result of the Losses referred to in paragraph (d)
above shall be deemed to include, subject to the limitations set forth above, any legal or other
expenses incurred by such Indemnified Person in connection with any such action or claim.
Notwithstanding the provisions of this Section 6, in no event shall a Holder be required to
contribute any amount in excess of the amount by which the total price at which the Securities or
Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder has
otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or
alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation.

          (f) The remedies provided for in this Section 6 are not exclusive and shall not limit any
rights or remedies that may otherwise be available to any Indemnified Person at law or in equity.

          (g) The indemnity and contribution provisions contained in this Section 6 shall remain
operative and in full force and effect regardless of (i) any termination of this Agreement, (ii)
any investigation made by or on behalf of the Initial Purchasers or any Holder, their respective
Affiliates or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the
Issuer or the Guarantors their respective Affiliates or the officers or directors of or any Person
controlling the Issuer or the Guarantors (iii) acceptance of any of the Exchange Securities and
(iv) any sale of Transfer Restricted Securities pursuant to a Shelf Registration Statement.

          7. General.

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          (a) Securities Held by the Issuer. Whenever the consent or approval of Holders of a specified
percentage of the aggregate principal amount of Securities or Exchange Securities is required
hereunder, Securities or Exchange Securities, as applicable, held by either the Issuer or its
Affiliates (other than subsequent Holders of Securities or Exchange Securities if such subsequent
Holders are deemed to be Affiliates solely by reason of their holdings of such Securities or
Exchange Securities) shall not be counted in determining whether such consent or approval was given
by the Holders of such required percentage.

          (b) No Inconsistent Agreements. The Issuer and the Guarantors represent, warrant and agree
that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not
inconsistent with the rights granted to the holders of any other outstanding securities issued or
guaranteed by the Issuer or any Guarantor, as applicable, under any other agreement and (ii)
neither the Issuer nor any Guarantor has entered into, or on or after the date of this Agreement
will enter into, any agreement that is inconsistent with the rights granted to the Holders of
Transfer Restricted Securities in this Agreement or otherwise conflicts with the provisions hereof.

          (c) Amendments and Waivers. The provisions of this Agreement, including the provisions of
this sentence, may not be amended, modified or supplemented, and waivers or consents to departures
from the provisions hereof may not be given unless the Issuer and the Guarantors have obtained the
written consent of Holders of at least a majority in aggregate principal amount of the outstanding
Transfer Restricted Securities affected by such amendment, modification, supplement, waiver or
consent; provided that no amendment, modification, supplement, waiver or consent to any departure
from the provisions of Section 6 shall be effective as against any Holder of Transfer Restricted
Securities unless consented to in writing by such Holder. Any amendments, modifications,
supplements, waivers or consents pursuant to this Section 7(c) shall be by a writing executed by
each of the parties hereto.

          (d) Notices. All notices and other communications provided for or permitted hereunder shall
be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any courier
guaranteeing overnight delivery:

          (i) if to a Holder, at the most current address maintained by the Trustee (as such term
is defined in the Indenture), with a copy in like manner to Lehman Brothers Inc.;

          (ii) if to the Initial Purchasers, to Lehman Brothers Inc., 745 Seventh Avenue, New
York, New York 10019, Attention: Syndicate Department (Fax: (212) 526-0943), with a copy
to Akin Gump Strauss Hauer & Feld LLP, 1111 Louisiana Street, 44th Floor, Houston, Texas
77002, Attention: J. Michael Chambers; and

          (iii) if to the Issuer or any Guarantor, to Mariner Energy, Inc., One BriarLake Plaza,
Suite 2000, 2000 West Sam Houston Parkway South, Houston, Texas 77042, Attention: General
Counsel (Fax: (713) 954-3820), with a copy to Baker Botts L.L.P., One Shell Plaza, 910
Louisiana Street, Houston, Texas 77002, Attention: Kelly B. Rose (Fax: (713) 229-7996).

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All such notices and communications shall be deemed to have been duly given: at the time delivered
by hand, if personally delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied;
and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery.
Copies of all such notices, demands or other communications shall be concurrently delivered by the
Person giving the same to the Trustee, at the address specified in the Indenture.

          (e) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors, assigns and transferees of each of the parties, including, without limitation and
without the need for an express assignment, subsequent Holders; provided that nothing herein shall
be deemed to permit any assignment, transfer or other disposition of Transfer Restricted Securities
in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any
Holder shall acquire Transfer Restricted Securities in any manner, whether by operation of law or
otherwise, such Transfer Restricted Securities shall be held subject to all the terms of this
Agreement, and by taking and holding such Transfer Restricted Securities such Person shall be
conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of
this Agreement and such Person shall be entitled to receive the benefits hereof. The Initial
Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the
Issuer or the Guarantors with respect to any failure by a Holder to comply with, or any breach by
any Holder (other than the Initial Purchasers, in their capacity as Holders, if applicable) of, any
of the obligations of such Holder under this Agreement.

          (f) Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the
agreements made hereunder between the Issuer and the Guarantors on the one hand, and the Initial
Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the
extent it deems such enforcement necessary or advisable to protect its rights or the rights of
other Holders hereunder.

          (g) Counterparts. This Agreement may be executed in any number of counterparts and by the
parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement.

          (h) Headings. The headings in this Agreement are for convenience of reference only, are not a
part of this Agreement and shall not limit or otherwise affect the meaning hereof.

          (i) Severability. The remedies provided herein are cumulative and not exclusive of any
remedies provided by law. If any term, provision, covenant or restriction contained in this
Agreement is held by a court of competent jurisdiction to be invalid, illegal, void, unenforceable
or against public policy, the remainder of the terms, provisions, covenants and restrictions
contained herein shall remain in full force and effect and shall in no way be affected, impaired or
invalidated. The Issuer, the Guarantors and the Initial Purchasers shall endeavor in good faith
negotiations to replace such provisions with valid provisions, the economic effect of which comes
as close as possible to that of the provisions that were held to be invalid, illegal, void,
unenforceable or against public policy. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and

22

 

restrictions without including any of such that may be hereafter declared invalid, illegal,
void, unenforceable or against public policy.

          (j) Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of New York.

          (k) Miscellaneous. This Agreement contains the entire agreement between the parties relating
to the subject matter hereof and supersedes all oral statements and prior writings with respect
thereto.

[Signature Page to Follow]

23

 

EXECUTION
VERSION

     Please confirm that the foregoing correctly sets forth the agreement among the Issuer, the
Guarantors and you.

	 	 	 	 	 
	 	 	Very truly yours,
	 
	 	 	 	 
	 	 	MARINER ENERGY, INC.
	 
	 	 	 	 
	 

	 	By:	 	/s/ Rick G. Lester
	 

	 	 	 	 
	 

	 	 	 	Name: Rick G. Lester
	 

	 	 	 	Title: Vice President, Chief
Financial Officer and Treasurer
	 
	 	 	 	 
	 	 	MARINER LP LLC
	 
	 	 	 	 
	 

	 	By:	 	/s/ Rick G. Lester
	 

	 	 	 	 
	 

	 	 	 	Name: Rick G. Lester
	 

	 	 	 	Title: Vice President, Chief
Financial Officer and Treasurer
	 
	 	 	 	 
	 	 	MARINER ENERGY RESOURCES, INC.
	 
	 	 	 	 
	 

	 	By: 	 	/s/ Rick G. Lester
	 

	 	 	 	 
	 

	 	 	 	Name: Rick G. Lester
	 

	 	 	 	Title: Vice President, Chief
Financial Officer and Treasurer
	 
	 	 	 	 
	 

	 	MARINER
	 	ENERGY TEXAS LP
	 
	 	 	 	 
	 

	 	By: 	 	/s/ Rick G. Lester
	 

	 	 	 	 
	 

	 	 	 	Name: Rick G. Lester
	 

	 	 	 	Title: Vice President, Chief
Financial Officer and Treasurer

Accepted on behalf of the Initial Purchasers:

By: LEHMAN
BROTHERS INC., as Authorized Representative

	 	 	 	 	 	 	 
	 

	 	By: 	 	/s/ Brad Hutchinson	 	 
	 

	 	 	 	 

Name: Brad Hutchinson
	 	 
	 

	 	 	 	Title: Senior Vice President	 	 

By: J.P. MORGAN SECURITIES, INC., as Authorized Representative

	 	 	 	 	 	 	 
	 

	 	By: 	 	/s/ Adam Bernard	 	 
	 

	 	 	 	 

Name: Adam Bernard
	 	 
	 

	 	 	 	Title: Vice President	 	 

[Signature Page to Registration Rights Agreement]

S-1exv10w1

 

EXHIBIT
10.1

$300,000,000

MARINER ENERGY, INC.

71/2% Senior Notes due 2013

PURCHASE AGREEMENT

April 19, 2006

Lehman Brothers Inc.

J.P. Morgan Securities Inc.

BNP Paribas Securities Corp.

Harris Nesbitt Corp.

Raymond James & Associates, Inc.

Wedbush Morgan Securities Inc.

c/o Lehman Brothers Inc.

745 Seventh Avenue, Third Floor

New York, NY 10019

Ladies and Gentlemen:

     Mariner Energy, Inc., a Delaware corporation (the “Company”), proposes, upon the terms and
considerations set forth herein, to issue and sell to you, as the initial purchasers (the “Initial
Purchasers”), $300,000,000 in aggregate principal amount of its 71/2% senior notes due 2013 (the
“Notes”). The Notes will (i) have terms and provisions that are summarized in the Pricing
Disclosure Package and the Final Offering Memorandum (as such terms are defined below) and (ii) are
to be issued pursuant to an indenture (the “Indenture”) to be entered into among the Company, the
Guarantors (as defined below) and Wells Fargo Bank, N.A., as trustee (the “Trustee”). The
Company’s obligations under the Notes, including the due and punctual payment of interest on the
Notes, will be unconditionally guaranteed (the “Guarantees”) by Mariner LP LLC, a Delaware limited
liability company, Mariner Energy Resources, Inc., a Delaware corporation, and Mariner Energy Texas
LP, a Delaware limited partnership, (together the “Guarantors”). As used herein, the term “Notes”
shall include the Guarantees, unless the context otherwise requires. This is to confirm the
agreement concerning the purchase of the Notes from the Company by the Initial Purchasers.

     1. Preliminary Offering Memorandum and Final Offering Memorandum. The Notes will be offered
and sold to the Initial Purchasers without registration under the Securities Act of 1933, as
amended (the “Act”), in reliance on an exemption pursuant to Section 4(2) under the Act. The
Company and the Guarantors have prepared a preliminary offering memorandum, dated April 10, 2006
(the “Preliminary Offering Memorandum”), a pricing supplement thereto dated the date hereof (the
“Pricing Supplement”), and an offering memorandum, dated April 19, 2006 (the “Final Offering
Memorandum”, setting forth information regarding the Company, the Guarantors, the Notes, and the
Exchange Notes (as defined herein), the Guarantees and the Exchange Guarantees (as defined herein).
The Company and the Guarantors hereby confirm that

1

 

they have authorized the use of the Preliminary Offering Memorandum, the Pricing Supplement,
the Final Offering Memorandum, and any amendments or supplements thereto required pursuant to this
Agreement, in connection with the offering and resale of the Notes by the Initial Purchasers.

     As used in this Agreement, “Applicable Time” means 5:00 P.M. (New York City time) on the date
of this Agreement and “Pricing Disclosure Package” means, as of the Applicable Time, the
Preliminary Offering Memorandum together with the Pricing Supplement.

     As used in this Agreement, “Supplemental Offering Materials” means any “written communication”
(within the meaning of the Act and the rules and regulations thereunder) prepared by or on behalf
of the Company, or used or referred to by the Company, that that would reasonably be expected to
constitute an offer to sell or a solicitation of an offer to buy the Notes other than the Pricing
Disclosure Package and the Offering Memorandum or amendments or supplements thereto, including,
without limitation, any road show relating to the Notes that would reasonably be expected to
constitute such a written communication.

     It is understood and acknowledged that upon original issuance thereof, and until such time as
the same is no longer required under the applicable requirements of the Act, the Notes (and all
securities issued in exchange therefor or in substitution thereof) shall bear the following legend
(along with such other legends as the Initial Purchasers and their counsel or the Company and its
counsel deem necessary):

THE NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR OTHER SECURITIES LAWS. NEITHER THIS
NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE RE-OFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH
REGISTRATION OR UNLESS THE TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. EACH PURCHASER OF THE SECURITY
EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION
FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A
THEREUNDER. THE HOLDER OF THIS NOTE AGREES FOR THE BENEFIT OF MARINER ENERGY, INC.
THAT (A) THIS NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY
(I) TO THE ISSUER (II) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY
BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (III)
OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904
UNDER THE SECURITIES ACT, (IV) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE), OR (V) PURSUANT TO AN
EFFECTIVE

2

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT, AND IN EACH OF CASES (I) THROUGH
(V) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY
ANY SUBSEQUENT PURCHASER OF THIS NOTE FROM IT OF THE RESALE RESTRICTIONS REFERRED TO
IN (A) ABOVE.

     You have advised the Company that you will make offers (the “Exempt Resales”) of the Notes
purchased by you hereunder on the terms set forth in the Pricing Disclosure Package, as amended or
supplemented, solely to (i) persons whom you reasonably believe to be “qualified institutional
buyers” as defined in Rule 144A under the Act (“QIBs”) and (ii) outside the United States to
certain persons in offshore transactions in reliance on Regulation S under the Act (“Regulation
S”). Those persons specified in clauses (i) and (ii) are referred to herein as the (“Eligible
Purchasers”). You will offer the Notes to Eligible Purchasers initially at a price equal to
98.676% of the principal amount thereof. Such price may be changed at any time without notice.

     Holders (including subsequent transferees) of the Notes will have the registration rights set
forth in the exchange and registration rights agreement attached hereto as Exhibit A (the
“Registration Rights Agreement”) among the Company, the Guarantors and the Initial Purchasers to be
dated April 24, 2006 (the “Closing Date”), for so long as such Notes constitute “Transfer
Restricted Securities” (as defined in the Registration Rights Agreement). Pursuant to the
Registration Rights Agreement, the Company and the Guarantors will agree to file with the
Securities and Exchange Commission (the “Commission”) under the circumstances set forth therein, a
registration statement under the Act (the “Exchange Offer Registration Statement”) relating to the
Company’s 71/2% senior notes due 2013 (the “Exchange Notes”) and the Guarantors’ Exchange Guarantees
(the “Exchange Guarantees” to be offered in exchange for the Notes and the Guarantees (such offer
to exchange being referred to as the “Exchange Offer”).

     2. Representations, Warranties and Agreements of the Company and the Guarantors. The Company
and each of the Guarantors, jointly and severally, represent, warrant and agree as follows:

          (a) When the Notes and Guarantees are issued and delivered pursuant to this Agreement, such
Notes and Guarantees will not be of the same class (within the meaning of Rule 144A under the Act)
as securities of the Company or the Guarantors that are listed on a national securities exchange
registered under Section 6 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
or that are quoted in a United States automated inter-dealer quotation system.

          (b) Neither the Company nor any of its subsidiaries is, or after giving effect to the offering
and sale of the Notes and upon application of the proceeds as described under the caption “Use of
Proceeds” in the Preliminary Offering Memorandum and the Final Offering Memorandum will be, an
“investment company” or a company “controlled” by an

3

 

“investment company” within the meaning of the Investment Company Act of 1940, as amended.

          (c) Assuming that the Initial Purchasers’ representations and warranties in Section 3(b) are
true, the purchase and resale of the Notes pursuant hereto (including pursuant to the Exempt
Resales) is exempt from the registration requirements of the Act. No form of general solicitation
or general advertising within the meaning of Regulation D (including, but not limited to,
advertisements, articles, notices or other communications published in any newspaper, magazine or
similar medium or broadcast over television or radio, or any seminar or meeting whose attendees
have been invited by any general solicitation or general advertising) was used by the Company, the
Guarantors or any of their respective representatives (other than you, as to whom the Company and
the Guarantors make no representation) in connection with the offer and sale of the Notes.

          (d) No form of general solicitation or general advertising was used by the Company, the
Guarantors or any of their respective representatives (other than you, as to whom the Company and
the Guarantors make no representation) with respect to Notes sold outside the United States to
non-U.S. persons (as defined in Rule 902 under the Act), by means of any directed selling efforts
within the meaning of Rule 902 under the Act, and the Company, any affiliate of the Company and any
person acting on its or their behalf (other than you, as to whom the Company and the Guarantors
make no representation) has complied with and will implement the “offering restrictions” required
by Rule 902.

          (e) Each of the Pricing Disclosure Package, as of the Applicable Time, and the Final Offering
Memorandum, as of the Closing Date, contains all the information specified in, and meeting the
requirements of Rule 144A(d)(4) under the Act.

          (f) The Pricing Disclosure Package and Final Offering Memorandum have been prepared by the
Company and the Guarantors for use by the Initial Purchasers in connection with the Exempt Resales.
No order or decree preventing the use of the Pricing Disclosure Package or the Final Offering
Memorandum, or any order asserting that the transactions contemplated by this Agreement are subject
to the registration requirements of the Act has been issued and no proceeding for that purpose has
commenced or is pending or, to the knowledge of the Company or any of the Guarantors, is
contemplated.

          (g) None of the Pricing Disclosure Package or any individual Supplemental Offering Materials,
when considered together with the Pricing Disclosure Package, as of the Applicable Time, or the
Final Offering Memorandum as of the Closing Date, contains or will at any time contain any untrue
statement of a material fact or omit to state a material fact necessary in order to make the
statements made therein, in the light of the circumstances under which they were made, not
misleading, except that this representation and warranty does not apply to statements in or
omissions from the Pricing Disclosure Package or the Final Offering Memorandum made in reliance
upon and in conformity with information relating to the Initial Purchasers furnished to the Company
in writing by or on behalf of the Initial Purchasers expressly for use therein.

4

 

          (h) The Company and each of the Guarantors has been duly incorporated or formed and are
validly existing as corporations, limited liability companies or limited partnerships, as
applicable, in good standing under the laws of their respective jurisdictions of incorporation or
formation, are duly qualified to do business and are in good standing as foreign corporations,
limited liability companies or limited partnerships in each jurisdiction in which their respective
ownership or lease of property or the conduct of their respective businesses requires such
qualification (except such failures to qualify that would not reasonably be expected to constitute,
either individually or in the aggregate, a material adverse change, or any development involving a
material adverse change, in or affecting the management, condition, financial or otherwise,
stockholders’ equity, results of operations or business of the Company and its subsidiaries, taken
as a whole (a “Material Adverse Effect”)), and have all requisite corporate, limited liability
company or partnership power and authority, as applicable, necessary to own or hold their
respective properties and to conduct the businesses in which they are engaged as described in the
Preliminary Offering Memorandum in all material respects; and there are no subsidiaries of the
Company other than the Guarantors.

          (i) The Company has an authorized capitalization as set forth in the Preliminary Offering
Memorandum and the Final Offering Memorandum, there is no other class of equity securities of the
Company issued or outstanding, and all of the issued shares of capital stock of the Company have
been duly authorized and validly issued and are fully paid and non-assessable; all of the issued
partnership interests, limited liability company interests or shares of capital stock, as
applicable, of each Guarantor have been duly authorized and validly issued in accordance with the
organizational documents of such Guarantor, and are (except for general partner interests) fully
paid (to the extent required under such Guarantor’s organizational documents) and non-assessable,
except as such non-assessability may be affected by Section 18-607 of the Delaware Limited
Liability Company Act (the “Delaware LLC Act”) or Sections 17-303 and 17-607 of the Delaware
Revised Uniform Limited Partnership Act (the “Delaware LP Act”); all shares of capital stock,
limited liability company interests or limited partnership interests (except for directors’
qualifying shares or interests) of the Guarantors are owned directly or indirectly by the Company,
free and clear of all liens, encumbrances, equities or claims other than as described in the
Preliminary Offering Memorandum.

          (j) The Company and each Guarantor have all requisite corporate, limited liability company or
partnership power and authority, as applicable, to enter into the Indenture. The Indenture has
been duly and validly authorized by the Company and the Guarantors, and upon its execution and
delivery and, assuming due authorization, execution and delivery by the Trustee, will constitute
the valid and binding agreement of the Company and the Guarantors, enforceable against the Company
and the Guarantors in accordance with its terms, except as such enforceability may be limited by
bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium, and other laws relating
to or affecting creditors’ rights generally, by general equitable principles (regardless of whether
such enforceability is considered in a proceeding in equity or at law), by public policy, by
applicable law relating to indemnification and contribution and by an implied covenant of good
faith and fair dealing; no qualification of the Indenture under the Trust Indenture Act of 1939
(the “TIA”) is required in connection with the offer and sale of the Notes contemplated hereby or
in connection with the Exempt Resales; and the Indenture conforms in all material respects to the
requirements of the TIA and the rules and regulations of the Commission applicable to an indenture
which is qualified thereunder.

5

 

          (k) On the Closing Date, the Indenture will conform to the description thereof in the Pricing
Disclosure Package and the Final Offering Memorandum.

          (l) The Company has all requisite corporate power and authority to issue and sell the Notes.
The Notes have been duly authorized by the Company and, when duly executed by the Company in
accordance with the terms of the Indenture, assuming due authentication of the Notes by the
Trustee, upon delivery to the Initial Purchasers against payment therefor in accordance with the
terms hereof, will be validly issued and delivered, and will constitute valid and binding
obligations of the Company and each Guarantor, as guarantor, entitled to the benefits of the
Indenture, enforceable against the Company and each Guarantor, as guarantor, in accordance with
their terms, except as such enforceability may be limited by bankruptcy, fraudulent conveyance,
insolvency, reorganization, moratorium, and other laws relating to or affecting creditors’ rights
generally, by general equitable principles (regardless of whether such enforceability is considered
in a proceeding in equity or at law), by public policy, by applicable law relating to
indemnification and contribution and by an implied covenant of good faith and fair dealing.

          (m) On the Closing Date, the Notes will conform to the description thereof in the Pricing
Disclosure Package and the Final Offering Memorandum.

          (n) The Company has all requisite corporate power and authority to issue the Exchange Notes.
The Exchange Notes have been duly and validly authorized by the Company and if and when duly issued
and authenticated in accordance with the terms of the Indenture and delivered in accordance with
the Exchange Offer provided for in the Registration Rights Agreement, will constitute valid and
binding obligations of the Company and each Guarantor, as guarantor, entitled to the benefits of
the Indenture, enforceable against the Company and each Guarantor, as guarantor, in accordance with
their terms, except as such enforceability may be limited by bankruptcy, fraudulent conveyance,
insolvency, reorganization, moratorium, and other laws relating to or affecting creditors’ rights
generally and by general equitable principles (regardless of whether such enforceability is
considered in a proceeding in equity or at law), by public policy, by applicable law relating to
indemnification and contribution and by an implied covenant of good faith and fair dealing.

          (o) Each Guarantor has all requisite corporate, limited liability company or partnership power
and authority, as applicable, to issue the Guarantees. The Guarantees have been duly and validly
authorized by the Guarantors and when duly executed and delivered by the Guarantors in accordance
with the terms of the Indenture and upon the due execution, authentication and delivery of the
Notes in accordance with the Indenture and the issuance of the Notes in the sale to the Initial
Purchasers contemplated by this Agreement, will constitute valid and binding obligations of the
Guarantors, enforceable against the Guarantors in accordance with their terms, except as such
enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization,
moratorium, and other laws relating to or affecting creditors’ rights generally, by general
equitable principles (regardless of whether such enforceability is considered in a proceeding in
equity or at law), by public policy, applicable law relating to indemnification and contribution
and by an implied covenant of good faith and fair dealing.

6

 

          (p) On the Closing Date, the Guarantees will conform to the description thereof in the Pricing
Disclosure Package and the Final Offering Memorandum.

          (q) Each Guarantor has all requisite corporate, limited liability company or partnership power
and authority, as applicable, to issue the Exchange Guarantees. The Exchange Guarantees have been
duly and validly authorized by the Guarantors and if and when duly executed and delivered by the
Guarantors in accordance with the terms of the Indenture and upon the due execution and
authentication of the Exchange Notes in accordance with the Indenture and the issuance and delivery
of the Exchange Notes in the Exchange Offer contemplated by the Registration Rights Agreement, will
constitute valid and binding obligations of the Guarantors, entitled to the benefits of the
Indenture, enforceable against the Guarantors in accordance with their terms, except as such
enforceability may be limited by bankruptcy, fraudulent conveyance, insolvency, reorganization,
moratorium, and other laws relating to or affecting creditors’ rights generally, by general
equitable principles (regardless of whether such enforceability is considered in a proceeding in
equity or at law), by public policy, by applicable law relating to indemnification and contribution
and by an implied covenant of good faith and fair dealing.

          (r) The Company and each Guarantor have all requisite corporate, limited liability company or
partnership power and authority, as applicable, to enter into the Registration Rights Agreement.
The Registration Rights Agreement has been duly authorized by the Company and each Guarantor and,
when executed and delivered by the Company and each Guarantor in accordance with the terms hereof
and thereof, will be validly executed and delivered and (assuming the due authorization, execution
and delivery thereof by the Initial Purchasers) will be the legally valid and binding obligation of
the Company and each Guarantor in accordance with the terms thereof, enforceable against the
Company and each Guarantor in accordance with its terms, except as such enforceability may be
limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or
affecting creditor’s rights generally, by general equitable principles (regardless of whether such
enforceability is considered in a proceeding in equity or at law) by public policy, by applicable
law relating to indemnification and contribution and by an implied covenant of good faith and fair
dealing.

          (s) On the Closing Date, the Registration Rights Agreement will conform to the description
thereof in the Pricing Disclosure Package and the Final Offering Memorandum.

          (t) The Company and each Guarantor have all requisite corporate, limited liability company or
partnership power and authority, as applicable, to enter into this Agreement. This Agreement has
been duly authorized, executed and delivered by the Company and the Guarantors.

          (u) The issue and sale of the Notes and the Guarantees and the compliance by the Company and
the Guarantors with all of the provisions of the Notes, the Guarantees, the Exchange Notes, the
Exchange Guarantees, the Indenture, the Registration Rights Agreement and this Agreement and the
consummation of the transactions contemplated hereby and thereby (i) will not conflict with or
result in a breach or violation of any of the terms or provisions of, or constitute a default
under, any indenture, mortgage, deed of trust, loan agreement, lease or other

7

 

agreement or instrument to which the Company or any of the Guarantors is a party or by which
the Company or any of the Guarantors is bound or to which any of the property or assets of the
Company the Company or any of the Guarantors is subject, (ii) will not result in any violation of
the provisions of the charter or by-laws, limited liability company agreement, partnership
agreement or similar organizational document of the Company or any of the Guarantors or (iii) will
not violate any statute or any order, rule or regulation of any court or governmental agency or
body having jurisdiction over the Company or any of the Guarantors or any of their properties or
assets; except, in the case of clauses (i) and (iii) above, as would not reasonably be expected to
have a Material Adverse Effect; and no consent, approval, authorization or order of, or filing,
registration or qualification with any such court or governmental agency or body having
jurisdiction over the Company or any Guarantor or any of their respective properties is required
for the issue and sale of the Notes and the Guarantees or the consummation by the Company and the
Guarantors of the transactions contemplated by this Agreement, the Registration Rights Agreement or
the Indenture, except with respect to the Exchange Notes under the Act and applicable state
securities laws as contemplated by the Registration Rights Agreement and except for such consents,
approvals, authorizations, orders, filings, registrations or qualifications as may be required
under state securities or Blue Sky laws in connection with the purchase and distribution of the
Notes by the Initial Purchasers.

          (v) There are no contracts, agreements or understandings between the Company, any Guarantor
and any person granting such person the right to require the Company or any Guarantor to file a
registration statement under the Act with respect to any securities of the Company or any Guarantor
(other than the Registration Rights Agreement, the Agreement and Plan of Merger dated as of
September 9, 2005 among Forest Oil Corporation, SML Wellhead Corporation, the Company and MEI Sub,
Inc., and the Registration Rights Agreement dated as of March 11, 2005 among the Company and each
of the investors identified therein) owned or to be owned by such person or to require the Company
or any Guarantor to include such securities in the securities registered pursuant to the
Registration Rights Agreement or in any securities being registered pursuant to any other
registration statement filed by the Company or any Guarantor under the Act.

          (w) During the six-month period preceding the date of the Final Offering Memorandum, none of
the Company, the Guarantors or any other person acting on behalf of the Company or any Guarantor
has offered or sold to any person any Notes or Guarantees, or any securities of the same or a
similar class as the Notes or Guarantees, other than Notes or Guarantees offered or sold to the
Initial Purchasers hereunder. The Company and the Guarantors will take reasonable precautions
designed to insure that any offer or sale, direct or indirect, in the United States or to any U.S.
person (as defined in Rule 902 under the Act), of any Notes or any substantially similar security
issued by the Company or any Guarantor, within six months subsequent to the date on which the
distribution of the Notes has been completed (as notified to the Company by the Initial
Purchasers), is made under restrictions and other circumstances reasonably designed not to affect
the status of the offer and sale of the Notes in the United States and to U.S. persons contemplated
by this Agreement as transactions exempt from the registration provisions of the Act; including any
sales pursuant to Rule 144A under, or Regulations D or S of, the Act.

8

 

          (x) Neither the Company nor any of the Guarantors has sustained, since the date of the latest
audited financial statements included in the Preliminary Offering Memorandum and the Final Offering
Memorandum, any material loss or interference with its business from fire, explosion, flood or
other calamity, whether or not covered by insurance, or from any labor dispute or court or
governmental action, order or decree, other than as set forth or contemplated in the Preliminary
Offering Memorandum or as would not be reasonably likely to result in a Material Adverse Effect;
and, since such date, there has not been any material change in the stockholders’ equity or
long-term debt of the Company or any Guarantor (other than issuances of restricted stock or options
under the Company’s equity plans and borrowings or issuances of letters of credit under the
Company’s and the Guarantors’ existing credit facility) or any Material Adverse Effect, other than
as set forth or contemplated in the Preliminary Offering Memorandum.

          (y) The historical financial statements (including the related notes and supporting schedules)
included in the Preliminary Offering Memorandum and the Final Offering Memorandum present fairly in
all material respects the financial condition and results of operations of the entities purported
to be shown thereby on the basis stated therein, at the dates and for the periods indicated, and
have been prepared in conformity with generally accepted accounting principles applied on a
consistent basis throughout the periods involved, except in each case as set forth or contemplated
in the Preliminary Offering Memorandum.

          (z) The pro forma financial statements included in the Preliminary Offering Memorandum and the
Final Offering Memorandum include assumptions that provide a reasonable basis for presenting the
significant effects directly attributable to the transactions and events described therein, the
related pro forma adjustments give appropriate effect to those assumptions, and the pro forma
adjustments reflect the proper application of those adjustments to the historical financial
statement amounts in the pro forma financial statements included in the most recent Preliminary
Offering Memorandum.

          (aa) Each of Deloitte & Touche LLP, who have certified certain financial statements of the
Company, whose report appears in the Preliminary Offering Memorandum and who have delivered the D&T
initial letter referred to in Section 7(e) hereof; and KPMG LLP, who have certified certain
financial statements of Mariner Energy Resources, Inc., whose report appears in the Preliminary
Offering Memorandum and the Final Offering Memorandum and who have delivered the KPMG initial
letter referred to in Section 7(g) hereof, were independent registered public accountants as
required by the Act and the rules and regulations promulgated thereunder (the “Rules and
Regulations”) during the periods covered by the financial statements on which they reported
contained in the Preliminary Offering Memorandum.

          (bb) Ryder Scott Company, L.P. (“Ryder Scott”), whose reports are referenced in the
Preliminary Offering Memorandum and the Final Offering Memorandum (collectively, the “Reserve
Reports”) was, as of the date of each of the Reserve Reports, and is, as of the date hereof, an
independent reserve engineer with respect to the Company and Mariner Energy Resources, Inc. No
information has come to the attention of the Company or, to the Company’s knowledge, to Ryder
Scott, that would reasonably be expected to cause Ryder Scott to withdraw its Reserve Reports.

9

 

          (cc) The oil and gas reserve estimates of the Company and its Subsidiaries (exclusive of the
Forest Gulf of Mexico operations) contained in the Preliminary Offering Memorandum and the Final
Offering Memorandum are based on estimates made in reserve reports prepared by an independent
petroleum engineering firm as set forth in the Preliminary Offering Memorandum and the Final
Offering Memorandum, such reserve estimates fairly reflect the oil and gas reserves of the Company
and its Subsidiaries (exclusive of the Forest Gulf of Mexico operations) at the dates indicated in
the Preliminary Offering Memorandum and are in accordance with the Commission guidelines applied on
a consistent basis throughout the periods involved. The oil and gas reserve estimates of the
Forest Gulf of Mexico operations contained in the Preliminary Offering Memorandum are based on
estimates made by internal staff engineers of Forest Oil Corporation, which estimates were audited
by an independent petroleum engineering firm as set forth in the Preliminary Offering Memorandum,
such reserve estimates fairly reflect the oil and gas reserves of the Forest Gulf of Mexico
operations at the dates indicated in the Preliminary Offering Memorandum and are in accordance with
the Commission guidelines applied on a consistent basis throughout the periods involved. The
information underlying the estimates described above that was supplied to Ryder Scott for the
purposes of preparing the reserve report and audit referred to above, including production and
costs of operation, was true and correct in all material respects on the dates such estimates were
made, and such information was supplied and was prepared in accordance with customary industry
practices; other than normal production of the reserves, product price fluctuations, fluctuations
of demand for such products, hurricanes, loop currents and other adverse weather conditions,
unavailability or increased costs of rigs, equipment, supplies or personnel, the timing of third
party operations and other factors disclosed in the Preliminary Offering Memorandum and the Final
Offering Memorandum, the Company is not aware of any facts or circumstances that would result in a
materially adverse change in the aggregate net reserves, or the present value of the future net
cash flows therefrom as described in the Preliminary Offering Memorandum and the Final Offering
Memorandum and as reflected in the Reserve Reports; the estimates of such reserves and present
value as described in the Preliminary Offering Memorandum and the Final Offering Memorandum and
reflected in the Reserve Report referenced therein have been prepared in a manner that complies
with the applicable requirements of the rules under the Act with respect to proved reserves.

          (dd) The Company or the subsidiaries have legal, valid and defensible title to substantially
all the interests in oil and gas properties underlying the Company’s estimates of its net proved
reserves contained in the Preliminary Offering Memorandum and the Final Offering Memorandum and to
substantially all other real and personal property reflected in the Preliminary Offering Memorandum
and the Final Offering Memorandum as assets owned by them, in each case free and clear of all
liens, encumbrances and defects, except such as are described in the Preliminary Offering
Memorandum or as would not be reasonably expected to have a Material Adverse Effect; and any other
real property and buildings held under lease by the Company or the subsidiaries are held by them
under valid, subsisting and enforceable leases, with such exceptions as are not material and do not
materially interfere with the use made and proposed to be made of such property and buildings by
the Company or its subsidiaries; and the care taken by the Company and its subsidiaries with
respect to acquiring or otherwise procuring such leases, options to lease, drilling rights and
concessions or other property interests was generally consistent with standard industry practices
in the areas in which the Company operates

10

 

for acquiring or procuring leases and interests therein to explore, develop or produce
hydrocarbons.

          (ee) The Company and each of the Guarantors carry, or are covered by, insurance in such
amounts and covering such risks as is adequate for the conduct of their respective businesses and
the value of their respective properties and as is customary for companies engaged in similar
businesses in similar industries.

          (ff) There are no legal or governmental proceedings pending to which the Company or any of its
subsidiaries is a party or of which any property or assets of the Company or any of its
subsidiaries is the subject that, if determined adversely to the Company or any of its
subsidiaries, is reasonably likely to have a Material Adverse Effect, and to the knowledge of the
Company and each Guarantor, no such proceedings are threatened or contemplated by governmental
authorities or threatened by others.

          (gg) There are no contracts or other documents that would be required to be filed as exhibits
to a Company registration statement pursuant to Item 601(10) of Regulation S-K that have not been
described in the Preliminary Offering Memorandum.

          (hh) No relationship, direct or indirect, that would be required to be described in a Company
registration statement pursuant to Item 404 of Regulation S-K, exists between or among the Company
or any Guarantor on the one hand, and the directors, officers, stockholders, customers or suppliers
of the Company, or any Guarantor on the other hand, that has not been described in the Preliminary
Offering Memorandum.

          (ii) No labor dispute by the employees of the Company or any of its subsidiaries exists or, to
the knowledge of the Company or any of its subsidiaries, is imminent that in either case would
reasonably be expected to have a Material Adverse Effect.

          (jj) The Company is in compliance in all material respects with all presently applicable
provisions of the Employee Retirement Income Security Act of 1974, as amended, including the
regulations and published interpretations thereunder (“ERISA”); no “reportable event” (as defined
in ERISA) has occurred with respect to any “pension plan” (as defined in ERISA) for which the
Company or any Guarantor would have any liability; neither the Company nor any Guarantor has
incurred or expects to incur liability under (i) Title IV of ERISA with respect to termination of,
or withdrawal from, any “pension plan” or (ii) Sections 412 or 4971 of the Internal Revenue Code of
1986, as amended, including the regulations and published interpretations thereunder (the “Code”);
and each “pension plan” for which the Company or any Guarantor would have any liability that is
intended to be qualified under Section 401(a) of the Code is so qualified in all material respects
and nothing has occurred, whether by action or by failure to act, which would cause the loss of
such qualification.

          (kk) The Company and each Guarantor has filed all federal, state and local income and
franchise tax returns required to be filed through the date hereof and has paid all taxes due
thereon (other than those which are being contested in good faith or which, if not paid, would not
reasonably be expected to have a Material Adverse Effect), and no tax deficiency has been
determined adversely to the Company or any of the Guarantors that has had (nor does the

11

 

Company or any Guarantor have any knowledge of any tax deficiency that, if determined
adversely to the Company or any of the Guarantors would reasonably be expected to have) a Material
Adverse Effect.

          (ll) Since the latest date as of which information is given in the Preliminary Offering
Memorandum through the date hereof, and except as may otherwise be disclosed in the Preliminary
Offering Memorandum, neither the Company nor any Guarantor has (i) issued or granted any securities
(other than issuances of restricted stock or options under the Company’s equity plans), (ii)
incurred any liability or obligation, direct or contingent, other than liabilities and obligations
that were incurred in the ordinary course of business, (iii) entered into any transaction not in
the ordinary course of business or (iv) declared or paid any dividend on its capital stock.

          (mm) Neither the Company nor any of the Guarantors (i) is in violation of its charter or
by-laws, (ii) is in default, and no event has occurred that, with notice or lapse of time or both,
would constitute such a default, in the due performance or observance of any term, covenant,
condition or other obligation contained in any material indenture, mortgage, deed of trust, loan
agreement or other agreement or instrument to which it is a party or by which it is bound or to
which any of its properties or assets is subject or (iii) is in violation in any material respect
of any law, ordinance, governmental rule, regulation or court decree to which it or its property or
assets may be subject or has failed to obtain or maintain any material license, permit,
certificate, franchise or other governmental authorization or permit necessary to the ownership of
its property or to the conduct of its business except, in the case of clauses (ii) and (iii), as
would not reasonably be expected to have a Material Adverse Effect.

          (nn) Except as disclosed in the Preliminary Offering Memorandum, no subsidiary of the Company
is currently prohibited, directly or indirectly, under any agreement or other instrument to which
it is a party or is subject, from paying any dividends to the Company, from making any other
distribution on such subsidiary’s capital stock, from repaying to the Company any loans or advances
to such subsidiary from the Company or from transferring any of such subsidiary’s properties or
assets to the Company or any other subsidiary of the Company.

          (oo) Neither the Company nor any of its subsidiaries is a party to any contract, agreement or
understanding with any person (other than this Agreement) that would give rise to a valid claim
against any of them or any Initial Purchaser for a brokerage commission, finder’s fee or like
payment in connection with the offering and sale of the Notes or Exchange Notes.

          (pp) Except as described in the Preliminary Offering Memorandum and except as would not in the
aggregate reasonably be expected to have a Material Adverse Effect, (i) neither the Company nor any
of the Subsidiaries has received any notice that has not been resolved alleging that it is in
violation of any federal, state, local or foreign statute, law, rule, regulation, ordinance, code,
policy or any judicial or administrative interpretation thereof, including any judicial or
administrative order, consent, decree or judgment, pertaining to pollution or protection of human
health, the environment (including, without limitation, ambient air, surface water, groundwater,
land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations
pertaining to the release or threatened release of chemicals,

12

 

pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or
petroleum products, asbestos-containing materials or mold (collectively, “Hazardous Materials”) or
to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or
handling of Hazardous Materials (collectively, “Environmental Laws”), (ii) the Company and the
Subsidiaries have all permits, authorizations and approvals required under any applicable
Environmental Laws and are each in compliance with their requirements, (iii) there are no pending
or, to the knowledge of the Company, threatened administrative, regulatory or judicial actions,
suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigation
or proceedings under any Environmental Law against the Company, or any of the Subsidiaries, and
(iv) to the knowledge of the Company, there are no events or circumstances that would reasonably be
expected to form the basis of an order for clean-up or remediation, or an action, suit or
proceeding by any private party or governmental body or agency, against or affecting the Company or
any of the Subsidiaries pertaining to Hazardous Materials or under any Environmental Laws.

          (qq) None of the transactions contemplated by this Agreement (including, without limitation,
the use of the proceeds from the sale of the Notes), will violate or result in a violation of
Section 7 of the Exchange Act, or any regulation promulgated thereunder, including, without
limitation, Regulations T, U and X of the Board of Governors of the Federal Reserve System.

          (rr) The statements set forth in the Preliminary Offering Memorandum and the Final Offering
Memorandum under the caption “Description of Notes,” insofar as they purport to constitute a
summary of the terms of the Indenture, Notes, the Guarantees and the Registration Rights Agreement
and under the captions “Certain Relationships and Related Transactions,” “Description of Existing
Indebtedness,” “Management,” “Business—Forest Gulf of Mexico Merger,” “Business—Royalty Relief,”
“Business—Regulation,” “Notice to Investors,” “Certain United States Federal Income Tax
Considerations,” and “Plan of Distribution,” insofar as they purport to describe the provisions of
the laws and documents referred to therein, are accurate in all material respects.

          (ss) Prior to the date hereof, neither the Company, the Guarantors nor any of their respective
affiliates nor any person acting on its or their behalf (other than you, as to whom the Company and
the Guarantors make no representation) has taken any action that is designed to or that has
constituted or that might reasonably have been expected to cause or result in stabilization or
manipulation of the price of any security of the Company or the Guarantors in connection with the
offering of the Notes.

          (tt) The Company is subject to the reporting requirements of either Section 13 or Section
15(d) of the Exchange Act.

          (uu) The Company has established and maintains disclosure controls and procedures (as such
term is defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act), which (i) are designed to
ensure that the information required to be disclosed by the Company in the reports it files or will
file or submit under the Exchange Act is accumulated and communicated to management of the Company,
including its principal executive officers and principal financial officers, as appropriate, to
allow timely decisions regarding required

13

 

disclosure to be made; (ii) have been evaluated for effectiveness as of the end of the period
covered by the Company’s most recent annual or quarterly report; and (iii) are effective in all
material respects to perform the functions for which they were established.

          (vv) The Company and each Guarantor makes and keeps accurate books and records and has devised
and maintained a system of internal accounting controls which it believes is sufficient to provide
reasonable assurances that (i) all material transactions are executed in accordance with its
management’s general or specific authorization, (ii) all transactions are recorded as necessary to
permit the preparation of financial statements in conformity with generally accepted accounting
principles or any other criteria applicable to such statements and to maintain accountability for
its assets, (iii) access to its property and assets is permitted only in accordance with
management’s general or specific authorization, and (iv) the recorded accountability for items is
compared with the actual levels thereof at reasonable intervals and appropriate action is taken
with respect to any variances.

          (ww) Based on the evaluation of its disclosure controls and procedures, the Company is not
aware of (i) any significant deficiency in the design or operation of internal controls which could
adversely affect the Company’s ability to record, process, summarize and report financial data or
any material weaknesses in internal controls; or (ii) any fraud, whether or not material, that
involves management or other employees who have a significant role in the Company’s internal
controls.

          (xx) Since the date of the most recent evaluation of such disclosure controls and procedures,
there have been no significant changes in internal controls or in other factors that could
significantly affect internal controls, including any corrective actions with regard to significant
deficiencies and material weaknesses.

          (yy) At the time the Exchange Notes are issued pursuant to the Exchange Offer Registration
Statement, the Company will be in compliance in all material respects with applicable effective
provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder.

     3. Purchase of the Notes by the Initial Purchasers, Agreements to Sell, Purchase and Resell.
The Company and the Guarantors, jointly and severally hereby agree, on the basis of the
representations, warranties and agreements of the Initial Purchasers contained herein and subject
to all the terms and conditions set forth herein, to issue and sell to the Initial Purchasers and,
upon the basis of the representations, warranties and agreements of the Company and the Guarantors
herein contained and subject to all the terms and conditions set forth herein, each Initial
Purchaser agrees, severally and not jointly, to purchase from the Company, at a purchase price of
96.176% of the principal amount thereof, the principal amount of Notes set forth opposite the name
of such Initial Purchaser in Schedule I hereto. The Company and the Guarantors shall not be
obligated to deliver any of the securities to be delivered hereunder except upon payment for all of
the Notes to be purchased as provided herein.

          Each of the Initial Purchasers, severally and not jointly hereby represents and warrants to
the Company that it will offer the Notes for sale upon the terms and conditions set forth in this
Agreement and in the Pricing Disclosure Package. Each of the Initial Purchasers

14

 

hereby represents and warrants to, and agrees with, the Company that such Initial Purchaser:
(i) is a QIB with such knowledge and experience in financial and business matters as are necessary
in order to evaluate the merits and risks of an investment in the Notes; (ii) is purchasing the
Notes pursuant to a private sale exempt from registration under the Act; (iii) in connection with
the Exempt Resales, will solicit offers to buy the Notes only from, and will offer to sell the
Notes only to, the Eligible Purchasers in accordance with this Agreement and on the terms
contemplated by the Pricing Disclosure Package; and (iv) will not offer or sell the Notes, nor has
it offered or sold the Notes by, or otherwise engaged in, any form of general solicitation or
general advertising (within the meaning of Regulation D, including, but not limited to,
advertisements, articles, notices or other communications published in any newspaper, magazine, or
similar medium or broadcast over television or radio, or any seminar or meeting whose attendees
have been invited by any general solicitation or general advertising) and will not engage in any
directed selling efforts within the meaning of Rule 902 under the Act, in connection with the
offering of the Notes. The Initial Purchasers have advised the Company that they will offer the
Notes to Eligible Purchasers at a price initially equal to 98.676% of the principal amount thereof,
plus accrued interest, if any, from the date of issuance of the Notes. Such price may be changed
by the Initial Purchasers at any time without notice.

          Each of the Initial Purchasers understands that the Company and, for purposes of the opinions
to be delivered to the Initial Purchasers pursuant to Sections 7(c) and 7(d) hereof, counsel to the
Company and counsel to the Initial Purchasers, will rely upon the accuracy and truth of the
foregoing representations, warranties and agreements and the Initial Purchasers hereby consent to
such reliance.

     4. Delivery of the Notes and Payment Therefor. Delivery to the Initial Purchasers of and
payment for the Notes shall be made at the office of Akin Gump Strauss Hauer & Feld LLP, 1111
Louisiana Street, 44th Floor, Houston, Texas 77002 at 9:00 A.M., New York City time, on
the Closing Date. The place of closing for the Notes and the Closing Date may be varied by
agreement between the Initial Purchasers and the Company.

          The Notes will be delivered to the Initial Purchasers, or the Trustee as custodian for The
Depository Trust Company (“DTC”), against payment by or on behalf of the Initial Purchasers of the
purchase price therefor by wire transfer in immediately available funds, by causing DTC to credit
the Notes to the account of the Initial Purchasers at DTC. The Notes will be evidenced by one or
more global securities in definitive form (the “Global Notes”) and/or by additional definitive
securities, and will be registered, in the case of the Global Notes, in the name of Cede & Co. as
nominee of DTC, and in the other cases, in such names and in such denominations as the Initial
Purchasers shall request prior to 9:30 A.M., New York City time, on the second business day
preceding the Closing Date. The Notes to be delivered to the Initial Purchasers shall be made
available to the Initial Purchasers in New York City for inspection and packaging not later than
9:30 A.M., New York City time, on the business day preceding the Closing Date.

     5. Agreements of the Company and the Guarantors. The Company and the Guarantors, jointly and
severally agree with each of the Initial Purchasers as follows:

15

 

          (a) The Company and the Guarantors will furnish to the Initial Purchasers, without charge,
such number of copies of the Preliminary Offering Memorandum, the Pricing Supplement and the Final
Offering Memorandum, as may then be amended or supplemented, as they may reasonably request.

          (b) The Company and the Guarantors will not make any amendment or supplement to the
Preliminary Offering Memorandum, the Pricing Supplement or the Final Offering Memorandum of which
the Initial Purchasers shall not previously have been advised or to which they shall reasonably
object after being so advised.

          (c) The Company and the Guarantors will not make any offer relating to the Notes with any
Supplemental Offering Materials without the prior written consent of the Initial Purchasers.

          (d) The Company and each of the Guarantors consent to the use, in accordance with the
securities or Blue Sky laws of the jurisdictions in which the Notes are offered by the Initial
Purchasers and by dealers, prior to the date of the Final Offering Memorandum, of each Preliminary
Offering Memorandum and the Pricing Supplement so furnished by the Company and the Guarantors. The
Company and each of the Guarantors consent to the use of the Final Offering Memorandum in
accordance with the securities or Blue Sky laws of the jurisdictions in which the Notes are offered
by the Initial Purchasers and by all dealers to whom Notes may be sold, in connection with the
offering and sale of the Notes.

          (e) If, at any time prior to completion of the distribution of the Notes by the Initial
Purchasers to Eligible Purchasers, any event occurs or information becomes known that, in the
judgment of the Company, any of the Guarantors or in the opinion of counsel for the Initial
Purchasers, should be set forth in the Preliminary Offering Memorandum, the Pricing Supplement or
the Final Offering Memorandum so that the Preliminary Offering Memorandum, the Pricing Supplement
or the Final Offering Memorandum, as the case may be, does not include any untrue statement of
material fact or omit to state a material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading, or if it is necessary
to supplement or amend the Preliminary Offering Memorandum, the Pricing Supplement or the Final
Offering Memorandum in order to comply with any law, the Company and the Guarantors will forthwith
prepare an appropriate supplement or amendment thereto, and will expeditiously furnish to the
Initial Purchasers and dealers a reasonable number of copies thereof.

          (f) The Company and each of the Guarantors will cooperate with the Initial Purchasers and with
their counsel in connection with the qualification of the Notes for offering and sale by the
Initial Purchasers and by dealers under the securities or Blue Sky laws of such jurisdictions as
the Initial Purchasers may reasonably designate and will cooperate in the filing of such consents
to service of process or other documents necessary or appropriate in order to effect such
qualification; provided, that in no event shall the Company or any of the Guarantors be obligated
to qualify to do business in any jurisdiction where it is not now so qualified or to take any
action that would subject it to service of process in suits, other than those arising out of the
offering or sale of the Notes, in any jurisdiction where it is not now so subject.

16

 

          (g) For a period of 90 days from the date of the Final Offering Memorandum, the Company and
the Guarantors agree not to, directly or indirectly, sell, offer to sell, contract to sell, grant
any option to purchase, issue any instrument convertible into or exchangeable for, or otherwise
transfer or dispose of (or enter into any transaction or device that is designed to, or would
reasonably be expected to, result in the disposition in the future of), any debt securities of the
Company, the Guarantors or any of their respective subsidiaries, except (i) in exchange for the
Exchange Notes and the Exchange Guarantees in connection with the Exchange Offer or (ii) with the
prior consent of Lehman Brothers Inc.

          (h) For a period of two years following the Effective Date, to furnish to the Initial
Purchasers copies of all materials furnished by the Company to its stockholders and holders of the
Notes and all public reports and all reports and financial statements furnished by the Company to
the principal national securities exchange upon which the Company’s common stock or Notes may be
listed pursuant to requirements of or agreements with such exchange or to the Commission pursuant
to the Exchange Act or any rule or regulation of the Commission thereunder, provided that any
publicly available document shall be deemed to comply with the above delivery requirements with
respect to such document.

          (i) The Company and the Guarantors will apply the net proceeds from the sale of the Notes to
be sold by it hereunder substantially in accordance with the description set forth in the Final
Offering Memorandum under the caption “Use of Proceeds.”

          (j) Except as stated in this Agreement and in the Preliminary Offering Memorandum or the Final
Offering Memorandum, neither the Company, the Guarantors nor any of their respective affiliates has
taken, nor will any of them take, directly or indirectly, any action designed to or that might
reasonably be expected to cause or result in stabilization or manipulation of the price of any
security of the Company or any of the Guarantors to facilitate the sale or resale of the Notes and
the Guarantees. Except as permitted by the Act, the Company and the Guarantors will not distribute
any offering material in connection with the Exempt Resales.

          (k) The Company and the Guarantors will use their commercially reasonable efforts to permit
the Notes to be designated Private Offerings, Resales and Trading through Automated Linkages
(PORTAL) MarketSM (the “PORTAL MarketSM”) securities in accordance with the
rules and regulations adopted by the National Association of Securities Dealers, Inc. relating to
trading in the PORTAL MarketSM and to permit the Notes to be eligible for clearance and
settlement through DTC.

          (l) During the period of two years after the Closing Date, the Company and the Guarantors will
not, and will not permit any of their “affiliates” (as defined in Rule 144 under the Act), to,
resell any of the Notes that constitute “restricted securities” under Rule 144 that have been
reacquired by any of them.

          (m) The Company and the Guarantors agree not to sell, offer for sale or solicit offers to buy
or otherwise negotiate in respect of any security (as defined in the Act) that would be integrated
with the sale of the Notes in a manner that would require the registration under the Act of the
sale to the Initial Purchasers or the Eligible Purchasers of the Notes.

17

 

          (n) The Company and the Guarantors agree to comply with all the terms and conditions of the
Registration Rights Agreement and all agreements set forth in the representation letters of the
Company and the Guarantors to DTC relating to the approval of the Notes by DTC for “book entry”
transfer.

          (o) The Company and the Guarantors will take such steps as shall be necessary to ensure that
neither the Company nor any of the Company’s subsidiaries becomes an “investment company” within
the meaning of such term under the Investment Company Act of 1940, as amended.

          (p) The Company and the Guarantors will do and perform all things required or necessary to be
done and performed under this Agreement by them prior to the Closing Date, and to satisfy all
conditions precedent to the Initial Purchasers’ obligations hereunder to purchase the Notes.

     6. Expenses. Whether or not the transactions contemplated by this Agreement are consummated
or this Agreement becomes effective or is terminated, the Company and the Guarantors, jointly and
severally, agree, to pay all costs, expenses, fees and taxes incident to and in connection with:
(i) the preparation, printing, filing and distribution of the Preliminary Offering Memorandum, the
Pricing Supplement and the Final Offering Memorandum, (including, without limitation, financial
statements and exhibits) and all amendments and supplements thereto (including the fees,
disbursements and expenses of the Company’s accountants and counsel, but not, however, legal fees
and expenses of the Initial Purchasers’ counsel incurred in connection therewith); (ii) the
preparation, printing (including, without limitation, word processing and duplication costs) and
delivery of this Agreement, the Indenture, the Registration Rights Agreement, all Blue Sky
Memoranda and all other agreements, memoranda, correspondence and other documents printed and
delivered in connection therewith and with the Exempt Resales (but not, however, legal fees and
expenses of your counsel incurred in connection with any of the foregoing other than fees of such
counsel plus reasonable disbursements (such legal fees and disbursements not to exceed $5,000 in
the aggregate) incurred in connection with the preparation, printing and delivery of such Blue Sky
Memoranda); (iii) the issuance and delivery by the Company of the Notes and by the Guarantors of
the Guarantees and any taxes payable in connection therewith; (iv) the qualification of the Notes
and Exchange Notes for offer and sale under the securities or Blue Sky laws of the several states
(including, without limitation, the reasonable fees and disbursements of your counsel relating to
such registration or qualification); (v) the furnishing of such copies of the Preliminary Offering
Memorandum, the Pricing Supplement and the Final Offering Memorandum, and all amendments and
supplements thereto, as may be reasonably requested for use in connection with the Exempt Resales;
(vi) the preparation of certificates for the Notes (including, without limitation, printing and
engraving thereof); (vii) the application for quotation of the Notes in the PORTAL MarketSM
(including all disbursements and listing fees); (viii) the approval of the Notes by DTC for
“book-entry” transfer (including fees and expenses of counsel); (ix) the rating of the Notes and
the Exchange Notes; (x) the obligations of the Trustee, any agent of the Trustee and the counsel
for the Trustee in connection with the Indenture, the Notes, the Guarantees, the Exchange Notes;
and the Exchange Guarantees; (xi) the performance by the Company and the Guarantors of their other
obligations under this Agreement; and (xii) all travel expenses (including expenses related to
chartered aircraft) of each Initial Purchaser and the Company’s

18

 

officers and employees and any other expenses of each Initial Purchaser and the Company in
connection with attending or hosting meetings with prospective purchasers of the Notes.

     7. Conditions to Initial Purchasers’ Obligations. The respective obligations of the Initial
Purchasers hereunder are subject to the accuracy, when made and on and as of the Closing Date, of
the representations and warranties of the Company and the Guarantors contained herein, to the
performance by the Company and the Guarantors of their respective obligations hereunder, and to
each of the following additional terms and conditions:

          (a) The Initial Purchasers shall not have discovered and disclosed to the Company on or prior
to the Closing Date that the Preliminary Offering Memorandum, the Pricing Supplement or the Final
Offering Memorandum or any amendment or supplement thereto contains an untrue statement of a fact
that, in the opinion of Akin Gump Strauss Hauer & Feld LLP, is material or omits to state a fact
that, in the opinion of such counsel, is material and is necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading.

          (b) All corporate proceedings and other legal matters incident to the authorization, form and
validity of this Agreement, the Notes, the Guarantees, the Exchange Notes, the Exchange Guarantees,
the Registration Rights Agreement, the Indenture, the Pricing Disclosure Package, the Final
Offering Memorandum, and all other legal matters relating to this Agreement and the transactions
contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the
Initial Purchasers, and the Company and the Guarantors shall have furnished to such counsel all
documents and information that they may reasonably request to enable them to pass upon such
matters.

          (c) Baker Botts L.L.P. shall have furnished to the Initial Purchasers its written opinion, as
counsel to the Company and the Guarantors, addressed to the Initial Purchasers and dated the
Closing Date, substantially in the form of Exhibit B hereto.

          (d) The Initial Purchasers shall have received from Akin Gump Strauss Hauer & Feld LLP,
counsel for the Initial Purchasers, such opinion or opinions, dated the Closing Date, with respect
to the issuance and sale of the Notes, the Preliminary Offering Memorandum, the Pricing Supplement,
the Final Offering Memorandum, and other related matters as the Initial Purchasers may reasonably
require, and the Company shall have furnished to such counsel such documents and information as
they reasonably request for the purpose of enabling them to pass upon such matters.

          (e) At the time of execution of this Agreement, the Initial Purchasers shall have received
from Deloitte & Touche LLP letters, in form and substance reasonably satisfactory to the Initial
Purchasers, addressed to the Initial Purchasers and dated the date hereof (i) confirming that they
are independent registered public accountants within the meaning of the Act and are in compliance
with the applicable requirements relating to the qualification of accountants under Rule 2-01 of
Regulation S-X of the Commission and (ii) stating, as of the date hereof (or, with respect to
matters involving changes or developments since the respective dates as of which specified
financial information is given in the Preliminary Offering Memorandum and the Final Offering
Memorandum, as of a date not more than three days prior to the date

19

 

hereof), the conclusions and findings of such firm with respect to such financial information
and (iii) covering such other matters as are ordinarily covered by accountants’ “comfort letters”
to underwriters in connection with registered public offerings.

          (f) With respect to the letter of Deloitte & Touche LLP referred to in the preceding paragraph
and delivered to the Initial Purchasers concurrently with the execution of this Agreement (the “D&T
initial letter”), the Company shall have furnished to the Initial Purchasers a bring-down letter of
such accountants, addressed to the Initial Purchasers and dated the Closing Date (i) confirming
that they are independent registered public accountants within the meaning of the Act and are in
compliance with the applicable requirements relating to the qualification of accountants under Rule
2-01 of Regulation S-X of the Commission, (ii) stating, as of the Closing Date (or, with respect to
matters involving changes or developments since the respective dates as of which specified
financial information is given in the Preliminary Offering Memorandum and the Final Offering
Memorandum, as of a date not more than three days prior to the Closing Date), the conclusions and
findings of such firm with respect to the financial information and other matters covered by the
D&T initial letter and (iii) confirming in all material respects the conclusions and findings set
forth in the D&T initial letter.

          (g) At the time of execution of this Agreement, the Initial Purchasers shall have received
from KPMG LLP a letter, in form and substance reasonably satisfactory to the Initial Purchasers,
addressed to the Initial Purchasers and dated the date hereof (i) confirming that they are
independent registered public accountants within the meaning of the Act and are in compliance with
the applicable requirements relating to the qualification of accountants under Rule 2-01 of
Regulation S-X of the Commission with respect to Forest Oil Corporation and (ii) stating, as of the
date hereof (or, with respect to matters involving changes or developments since the respective
dates as of which specified financial information is given in the Preliminary Offering Memorandum
and the Final Offering Memorandum, as of a date not more than three days prior to the date hereof),
the conclusions and findings of such firm with respect to such financial information and (iii)
covering such other matters as are ordinarily covered by accountants’ “comfort letters” to
underwriters in connection with registered public offerings.

          (h) With respect to the letter of KPMG LLP referred to in the preceding paragraph and
delivered to the Initial Purchasers concurrently with the execution of this Agreement (the “KPMG
initial letter”), the Company shall have furnished to the Initial Purchasers a bring-down letter of
such accountants, addressed to the Initial Purchasers and dated the Closing Date (i) confirming
that they are independent registered public accountants within the meaning of the Act and are in
compliance with the applicable requirements relating to the qualification of accountants under Rule
2-01 of Regulation S-X of the Commission with respect to Forest Oil Corporation, (ii) stating, as
of the Closing Date (or, with respect to matters involving changes or developments since the
respective dates as of which specified financial information is given in the Preliminary Offering
Memorandum and the Final Offering Memorandum, as of a date not more than three days prior to the
date of the Closing Date), the conclusions and findings of such firm with respect to the financial
information and other matters covered by the KPMG initial letter and (iii) confirming in all
material respects the conclusions and findings set forth in the KPMG initial letter.

20

 

          (i) The Company shall have furnished to the Initial Purchasers letters of Ryder Scott,
addressed to the Initial Purchasers and dated the date hereof and the Closing Date, confirming that
they are independent petroleum engineers with respect to the Company, and stating, as of the date
of such letter, the conclusions and findings of such firm with respect to the information and other
matters covered by their letter delivered to the Initial Purchasers concurrently with the execution
of this Agreement and confirming in all material respects the conclusions and findings set forth in
such prior letter.

          (j) Neither the Company nor any of the Guarantors shall have sustained, since the date of the
latest audited financial statements included in the Preliminary Offering Memorandum, any material
loss or interference with its business from fire, explosion, flood or other calamity, whether or
not covered by insurance, or from any labor dispute or court or governmental action, order or
decree, otherwise than as set forth or contemplated in the Preliminary Offering Memorandum; and,
since such date, there shall not have been any change in the stockholders’ equity (other than
issuances of restricted stock to employees, directors or consultants of the Company or any
Guarantor) or long-term debt (other than borrowings or issuances of letters of credit under the
Company’s and the Guarantors’ existing credit facility) of the Company or any of the Guarantors or
material adverse change, or any development involving a prospective material adverse change, in or
affecting the management, condition, financial or otherwise, stockholders’ equity, results of
operations, business or prospects of the Company and the Guarantors, taken as a whole.

          (k) The Company and each of the Guarantors shall have furnished or caused to be furnished to
the Initial Purchasers on the Closing Date certificates of officers of the Company and each of the
Guarantors reasonably satisfactory to the Initial Purchasers as to the accuracy of the
representations and warranties of the Company and each of the Guarantors herein at and as of the
Closing Date, as to the performance by the Company and each Guarantors of all of their obligations
hereunder to be performed at or prior to the Closing Date and as to such other matters as Lehman
Brothers Inc. may reasonably request.

          (l) The Notes shall have been designated for trading on the PORTAL MarketSM.

          (m) The Company and the Guarantors shall have executed and delivered the Registration Rights
Agreement, and the Initial Purchasers shall have received an original copy thereof, duly executed
by the Company and the Guarantors.

          (n) The Company, the Guarantors and the Trustee shall have executed and delivered the
Indenture, and the Initial Purchasers shall have received an original copy thereof, duly executed
by the Company, the Guarantors and the Trustee.

          (o) Subsequent to the execution and delivery of this Agreement there shall not have occurred
any of the following: (i) trading in securities generally on the New York Stock Exchange, the
Nasdaq National Market or the American Stock Exchange or in the over-the-counter market, or trading
in any securities of the Company on any exchange or in the over-the-counter market, has been
suspended or minimum prices shall have been established on any such exchange or such market by the
Commission, by such exchange or by any other regulatory body

21

 

or governmental authority having jurisdiction; (ii) a material disruption in securities
settlement, payment or clearance services in the United States; (iii) a banking moratorium has been
declared by Federal or state authorities; (iv) any attack on, outbreak or escalation of hostilities
or act of terrorism involving the United States, any declaration of war by Congress or any other
national or international calamity, crisis or emergency if, in the judgment of Lehman Brothers
Inc., the effect of any such attack, outbreak, escalation, act, declaration, calamity, crisis or
emergency makes it impractical or inadvisable to proceed with completion of the offering or sale of
and payment for the Notes; (v) the occurrence of any other calamity, crisis (including without
limitation as a result of terrorist activities), or material adverse change in general economic,
political or financial conditions (or the effect of international conditions on the financial
markets in the United States shall be such) as to make it, in the judgment of Lehman Brothers Inc.,
impracticable or inadvisable to proceed with offering or delivery of the Notes being delivered on
the Closing Date or that, in the reasonable judgment of Lehman Brothers Inc., would materially and
adversely affect the financial markets or the markets for the Notes and other debt securities or
(vi) any downgrading in the rating accorded the Notes by any “nationally recognized statistical
rating organization”, as such term is defined by the Commission for purposes of Rule 436(g)(2)
under the Act, or any such organization shall have publicly announced that it has under
surveillance or review, or has changed its outlook with respect to, its rating of the Notes (other
than an announcement with positive implications of a possible upgrading).

          All opinions, letters, evidence and certificates mentioned above or elsewhere in this
Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form
and substance reasonably satisfactory to counsel for the Initial Purchasers.

     8. Indemnification and Contribution.

          (a) The Company and each Guarantor, hereby agree, jointly and severally, to indemnify and hold
harmless each Initial Purchaser, its directors, officers and employees and each person, if any, who
controls any Initial Purchaser within the meaning of the Act, from and against any loss, claim,
damage or liability, joint or several, or any action in respect thereof (including, but not limited
to, any loss, claim, damage, liability or action relating to purchases and sales of Notes), to
which that Initial Purchaser, director, officer, employee or controlling person may become subject,
under the Act or otherwise, insofar as such loss, claim, damage, liability or action arises out of,
or is based upon, (i) any untrue statement or alleged untrue statement of a material fact contained
(A) in the Pricing Disclosure Package, the Final Offering Memorandum or in any amendment or
supplement thereto, (B) in any Blue Sky application or other document prepared or executed by the
Company or any Guarantor (or based upon any written information furnished by the Company or any
Guarantor) specifically for the purpose of qualifying any or all of the Notes under the securities
laws of any state or other jurisdiction (any such application, document or information being
hereinafter called a “Blue Sky Application”) or (C) in any materials or information provided to
investors by, or with the approval of, the Company in connection with the marketing of the offering
of the Notes (“Marketing Materials”), including any roadshow or investor presentations made to
investors by the Company (whether in person or electronically), (ii) the omission or alleged
omission to state in the Pricing Disclosure Package, the Final Offering Memorandum, or in any
amendment or supplement thereto, or in any Blue Sky Application or in any Marketing Materials, any
material fact required to be stated therein or necessary in order to make the statements therein,
in light of

22

 

the circumstances under which they were made, not misleading or (iii) any act or failure to
act or any alleged act or failure to act by any Initial Purchaser in connection with, or relating
in any manner to, the Notes or the offering contemplated hereby, and that is included as part of or
referred to in any loss, claim, damage, liability or action arising out of or based upon matters
covered by clause (i) or (ii) above (provided that the Company and the Guarantors shall not be
liable under this clause (iii) to the extent that it is determined in a final judgment by a court
of competent jurisdiction that such loss, claim, damage, liability or action resulted directly from
any such acts or failures to act undertaken or omitted to be taken by such Initial Purchaser
through its gross negligence or willful misconduct), and shall reimburse each Initial Purchaser and
each such director, officer, employee or controlling person promptly upon demand for any legal or
other expenses reasonably incurred by that Initial Purchaser, director, officer, employee or
controlling person in connection with investigating or defending or preparing to defend against any
such loss, claim, damage, liability or action as such expenses are incurred; provided, however,
that the Company and the Guarantors shall not be liable in any such case to the extent that any
such loss, claim, damage, liability or action arises out of, or is based upon, any untrue statement
or alleged untrue statement or omission or alleged omission made in the Pricing Disclosure Package,
the Final Offering Memorandum, or in any such amendment or supplement thereto, or in any Blue Sky
Application or in any Marketing Materials, in reliance upon and in conformity with written
information concerning such Initial Purchaser furnished to the Company through the Initial
Purchasers by or on behalf of any Initial Purchaser specifically for inclusion therein. The
foregoing indemnity agreement is in addition to any liability that the Company or the Guarantors
may otherwise have to any Initial Purchaser or to any director, officer, employee or controlling
person of that Initial Purchaser.

          (b) Each Initial Purchaser, severally and not jointly, hereby agrees to indemnify and hold
harmless the Company, each Guarantor, their respective officers and employees, each of their
respective directors, and each person, if any, who controls the Company or any Guarantor within the
meaning of the Act, from and against any loss, claim, damage or liability, joint or several, or any
action in respect thereof, to which the Company, any Guarantor or any such director, officer,
employee or controlling person may become subject, under the Act or otherwise, insofar as such
loss, claim, damage, liability or action arises out of, or is based upon, (i) any untrue statement
or alleged untrue statement of a material fact contained (A) in the Pricing Disclosure Package, the
Final Offering Memorandum or in any amendment or supplement thereto, (B) in any Blue Sky
Application, or (C) in any Marketing Materials or (ii) the omission or alleged omission to state in
the Pricing Disclosure Package, the Final Offering Memorandum, or in any amendment or supplement
thereto, or in any Blue Sky Application or in any Marketing Materials any material fact required to
be stated therein or necessary to make the statements therein not misleading, but in each case only
to the extent that the untrue statement or alleged untrue statement or omission or alleged omission
was made in reliance upon and in conformity with written information concerning such Initial
Purchaser furnished to the Company by or on behalf of that Initial Purchaser specifically for
inclusion therein, and shall reimburse the Company, any Guarantor and any such director, officer,
employee or controlling person for any legal or other expenses reasonably incurred by the Company,
any Guarantor or any such director, officer, employee or controlling person in connection with
investigating or defending or preparing to defend against any such loss, claim, damage, liability
or action as such expenses are incurred. The foregoing indemnity agreement is in addition to any
liability that any Initial

23

 

Purchaser may otherwise have to the Company, any Guarantor or any such director, officer,
employee or controlling person.

          (c) Promptly after receipt by an indemnified party under this Section 8 of notice of any claim
or the commencement of any action, the indemnified party shall, if a claim in respect thereof is to
be made against the indemnifying party under this Section 8, notify the indemnifying party in
writing of the claim or the commencement of that action; provided, however, that the failure to
notify the indemnifying party shall not relieve it from any liability that it may have under this
Section 8 except to the extent it has been materially prejudiced by such failure and; provided,
further, that the failure to notify the indemnifying party shall not relieve it from any liability
that it may have to an indemnified party otherwise than under this Section 8. If any such claim or
action shall be brought against an indemnified party, and it shall notify the indemnifying party
thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it
wishes, jointly with any other similarly notified indemnifying party, to assume the defense thereof
with counsel reasonably satisfactory to the indemnified party. After notice from the indemnifying
party to the indemnified party of its election to assume the defense of such claim or action, the
indemnifying party shall not be liable to the indemnified party under this Section 8 for any legal
or other expenses subsequently incurred by the indemnified party in connection with the defense
thereof other than reasonable costs of investigation; provided, however, that the Initial
Purchasers shall have the right to employ counsel to represent jointly the Initial Purchasers and
their respective directors, officers, employees and controlling persons who may be subject to
liability arising out of any claim in respect of which indemnity may be sought by the Initial
Purchasers against the Company or any Guarantor under this Section 8 if, in the reasonable judgment
of the Initial Purchasers, it is advisable for the Initial Purchasers and those directors,
officers, employees and controlling persons to be jointly represented by separate counsel, and in
that event the fees and expenses of such separate counsel shall be paid by the Company or any
Guarantor. No indemnifying party shall (i) without the prior written consent of the indemnified
parties (which consent shall not be unreasonably withheld), settle or compromise or consent to the
entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding
in respect of which indemnification or contribution may be sought hereunder (whether or not the
indemnified parties are actual or potential parties to such claim or action) unless such
settlement, compromise or consent includes an unconditional release of each indemnified party from
all liability arising out of such claim, action, suit or proceeding, and does not include any
statement as to or any admission of fault, culpability or failure to act by or on behalf of any
indemnified party, or (ii) be liable for any settlement of any such action effected without its
written consent (which consent shall not be unreasonably withheld), but if settled with the consent
of the indemnifying party or if there be a final judgment for the plaintiff in any such action, the
indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any
loss or liability by reason of such settlement or judgment.

          (d) If the indemnification provided for in this Section 8 shall for any reason be unavailable
to or insufficient to hold harmless an indemnified party under Section 8(a) or 8(b) in respect of
any loss, claim, damage or liability, or any action in respect thereof, referred to therein, then
each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the
amount paid or payable by such indemnified party as a result of such loss, claim, damage or
liability, or action in respect thereof, (i) in such proportion as shall be

24

 

appropriate to reflect the relative benefits received by the Company and the Guarantors, on
the one hand, and the Initial Purchasers, on the other, from the offering of the Notes or (ii) if
the allocation provided by clause (i) above is not permitted by applicable law, in such proportion
as is appropriate to reflect not only the relative benefits referred to in clause (i) above but
also the relative fault of the Company and the Guarantors, on the one hand, and the Initial
Purchasers, on the other, with respect to the statements or omissions that resulted in such loss,
claim, damage or liability, or action in respect thereof, as well as any other relevant equitable
considerations. The relative benefits received by the Company and the Guarantors, on the one hand,
and the Initial Purchasers on the other with respect to such offering shall be deemed to be in the
same proportion as the total net proceeds from the offering of the Notes purchased under this
Agreement (before deducting expenses) received by the Company and the Guarantors on the one hand,
and the total discounts and commissions received by the Initial Purchasers with respect to the
Notes purchased under this Agreement, on the other hand, bear to the total gross proceeds from the
offering of the Notes under this Agreement. The relative fault shall be determined by reference to
whether the untrue or alleged untrue statement of a material fact or omission or alleged omission
to state a material fact relates to information supplied by the Company, the Guarantors or the
Initial Purchasers, the intent of the parties and their relative knowledge, access to information
and opportunity to correct or prevent such statement or omission. For purposes of the preceding
two sentences, the net proceeds deemed to be received by the Company shall be deemed to be also for
the benefit of the Guarantors and information supplied by the Company shall also be deemed to have
been supplied by the Guarantors. The Company, the Guarantors, and the Initial Purchasers agree
that it would not be just and equitable if contributions pursuant to this Section 8(d) were to be
determined by pro rata allocation (even if the Initial Purchasers were treated as one entity for
such purpose) or by any other method of allocation that does not take into account the equitable
considerations referred to herein. The amount paid or payable by an indemnified party as a result
of the loss, claim, damage or liability, or action in respect thereof, referred to above in this
Section 8(d) shall be deemed to include, for purposes of this Section 8(d), any legal or other
expenses reasonably incurred by such indemnified party in connection with investigating or
defending any such action or claim. Notwithstanding the provisions of this Section 8(d), no
Initial Purchaser shall be required to contribute any amount in excess of the amount by which the
total discounts and commissions received by such Initial Purchaser with respect to the offering of
the Notes exceeds the amount of any damages that such Initial Purchaser has otherwise paid or
become liable to pay by reason of any untrue or alleged untrue statement or omission or alleged
omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The Initial Purchasers’ obligations to contribute as provided in this Section
8(d) are several in proportion to their respective underwriting obligations and not joint.

          (e) The Initial Purchasers severally confirm and the Company and the Guarantors acknowledge
that the statements with respect to the offering of the Notes by the Initial Purchasers set forth
on the second to last paragraph on the front cover of the Final Offering Memorandum and in the
section entitled “Plan of Distribution” in the Offering Memorandum are correct and constitute the
only information concerning such Initial Purchasers furnished in writing to the Company or any
Guarantor by or on behalf of the Initial Purchasers specifically for inclusion in Preliminary
Offering Memorandum or the Final Offering Memorandum.

25

 

     9. Defaulting Initial Purchasers. If, on the Closing Date, any Initial Purchaser defaults in
the performance of its obligations under this Agreement, the remaining non-defaulting Initial
Purchasers shall be obligated to purchase the Notes that the defaulting Initial Purchaser agreed
but failed to purchase on the Closing Date in the respective proportions that the number of Notes
set opposite the name of each remaining non-defaulting Initial Purchaser in Schedule I hereto bears
to the total number of Notes set opposite the names of all the remaining non-defaulting Initial
Purchasers in Schedule I hereto; provided, however, that the remaining non-defaulting Initial
Purchasers shall not be obligated to purchase any of the Notes on the Closing Date if the total
number of Notes that the defaulting Initial Purchaser or Initial Purchasers agreed but failed to
purchase on such date exceeds 9.09% of the total number of Notes to be purchased on the Closing
Date, and any remaining non-defaulting Initial Purchasers shall not be obligated to purchase more
than 110% of the number of Notes that it agreed to purchase on the Closing Date pursuant to the
terms of Section 3. If the foregoing maximums are exceeded, the remaining non-defaulting Initial
Purchasers, or those other Initial Purchasers reasonably satisfactory to the Initial Purchasers who
so agree, shall have the right, but shall not be obligated, to purchase, in such proportion as may
be agreed upon among them, all the Notes to be purchased on the Closing Date. If the remaining
Initial Purchasers or other Initial Purchasers reasonably satisfactory to the Initial Purchasers do
not elect to purchase the Notes that the defaulting Initial Purchaser or Initial Purchasers agreed
but failed to purchase on the Closing Date, this Agreement shall terminate without liability on the
part of any non-defaulting Initial Purchaser or the Company or the Guarantors, except that the
Company and the Guarantors will continue to be liable for the payment of expenses to the extent set
forth in Sections 6 and 11.

          Nothing contained herein shall relieve a defaulting Initial Purchaser of any liability it may
have to the Company or any Guarantor for damages caused by its default. If other Initial
Purchasers are obligated or agree to purchase the Notes of a defaulting or withdrawing Initial
Purchaser, either the remaining Initial Purchasers or the Company may postpone the Closing Date for
up to seven full business days in order to effect any changes that in the opinion of counsel for
the Company or counsel for the Initial Purchasers may be necessary in the Pricing Disclosure
Package, the Final Offering Memorandum or in any other document or arrangement.

     10. Termination. The obligations of the Initial Purchasers hereunder may be terminated by the
Initial Purchasers by notice given to and received by the Company prior to delivery of and payment
for the Notes if, prior to that time, any of the events described in Sections 7(j) or 7(o) shall
have occurred or if the Initial Purchasers shall decline to purchase the Notes for any reason
permitted under this Agreement.

     11. Reimbursement of Initial Purchasers’ Expenses. If the Company fails to tender the Notes
for delivery to the Initial Purchasers by reason of any failure, refusal or inability on the part
of the Company or any Guarantor to perform any agreement on their part to be performed, or because
any other condition of the obligations hereunder required to be fulfilled by the Company or any
Guarantor is not fulfilled, the Company and the Guarantors shall reimburse the Initial Purchasers
for all reasonable out-of-pocket expenses (including reasonable fees and disbursements of counsel)
incurred by the Initial Purchasers in connection with this Agreement and the proposed purchase of
the Notes, and upon demand the Company and the Guarantors shall pay the full amount thereof to
Lehman Brothers Inc. for the benefit of the Initial Purchasers.

26

 

     12. Research Independence. The Company and the Guarantors acknowledge that the Initial
Purchasers’ research analysts and research departments are required to be independent from their
respective investment banking divisions and are subject to certain regulations and internal
policies, and that such Initial Purchasers’ research analysts may hold and make statements or
investment recommendations and/or publish research reports with respect to the Company and/or the
offering that differ from the views of its investment bankers. The Company and the Guarantors
hereby waive and release, to the fullest extent permitted by law, any claims that the Company
and/or any Guarantor may have against any Initial Purchaser with respect to any conflict of
interest that may arise from the fact that the views expressed by their independent research
analysts and research departments may be different from or inconsistent with the views or advice
communicated to the Company or any of the Guarantors by the investment banking division of any such
Initial Purchaser. The Company and the Guarantors acknowledge that each of the Initial Purchasers
is a full service securities firm and as such from time to time, subject to applicable securities
laws, may effect transactions for its own account or the account of its customers and hold long or
short positions in debt or equity securities of the companies which may be the subject of the
transactions contemplated by this Agreement.

     13. No fiduciary duty. The Company and the Guarantors acknowledge and agree that in
connection with this offering, sale of the Notes or any other services the Initial Purchaser may be
deemed to be providing hereunder, notwithstanding any preexisting relationship, advisory or
otherwise, between the parties or any oral representations or assurances previously or subsequently
made by the Initial Purchasers: (i) no fiduciary or agency relationship between the Company and/or
any of the Guarantors and any other person, on the one hand, and the Initial Purchasers, on the
other, exists; (ii) the Initial Purchasers are not acting as advisors, expert or otherwise, to the
Company or any of the Guarantors in connection with the offering contemplated hereby, including,
without limitation, with respect to the determination of the offering price of the Notes, and such
relationship between the Company and/or any of the Guarantors, on the one hand, and the Initial
Purchasers, on the other, is entirely and solely commercial, based on arms-length negotiations;
(iii) any duties and obligations that the Initial Purchasers may have to the Company and/or any of
the Guarantors shall be limited to those duties and obligations specifically stated herein; and
(iv) the Initial Purchasers and their respective affiliates may have interests that differ from
those of the Company and the Guarantors. The Company and the Guarantors hereby waive any claims
that the Company and/or any of the Guarantors may have against the Initial Purchasers with respect
to any breach of fiduciary duty in connection with the offering of the Notes.

     14. Notices, etc. All statements, requests, notices and agreements hereunder shall be in
writing, and:

          (a) if to any Initial Purchaser, shall be delivered or sent by hand delivery, mail, telex,
overnight courier or facsimile transmission to Lehman Brothers Inc., 745 Seventh Avenue, New York,
New York 10019, Attention: Syndicate Department (Fax: (212) 526-0943), with a copy to Akin Gump
Strauss Hauer & Feld LLP, 1111 Louisiana, 44th Floor, Houston, Texas 77002, Attention:
J. Michael Chambers (Fax: (213) 236-0822), and with a copy, in the case of any notice pursuant to
Section 8(c), to the Director of Litigation, Office of the General Counsel, Lehman Brothers Inc.,
399 Park Avenue, 10th Floor, New York, New York 10022 (Fax: (212) 520-0421);

27

 

          (b) if to the Company or any Guarantor, shall be delivered or sent by mail, telex, overnight
courier or facsimile transmission to Mariner Energy, Inc., One Briar Lake Plaza, Suite 2000, 2000
West Sam Houston Parkway South, Houston, Texas 77042, Attention: General Counsel (Fax: (713)
954-3820), with a copy to Baker Botts LLP, One Shell Plaza, 910 Louisiana, Houston, Texas 77002,
Attention: Kelly B. Rose (Fax: (713) 229-7996);

provided, however, that any notice to an Initial Purchaser pursuant to Section 8(c) shall be
delivered or sent by hand delivery, mail, telex or facsimile transmission to such Initial Purchaser
at its address set forth in its acceptance telex, overnight courier to Lehman Brothers Inc., which
address will be supplied to any other party hereto by Lehman Brothers Inc. upon request. Any such
statements, requests, notices or agreements shall take effect at the time delivered by hand, if
personally delivered; two business days after being deposited in the mail, postage prepaid, if
mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied; and on the
next business day, if timely delivered to an air courier guaranteeing overnight delivery. The
Company shall be entitled to act and rely upon any request, consent, notice or agreement given or
made on behalf of the Initial Purchasers by Lehman Brothers Inc.

     15. Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of
and be binding upon the Initial Purchasers, the Company, the Guarantors and their respective
successors. This Agreement and the terms and provisions hereof are for the sole benefit of only
those persons, except that (A) the representations, warranties, indemnities and agreements of the
Company and the Guarantors contained in this Agreement shall also be deemed to be for the benefit
of directors of the Initial Purchasers, officers of the Initial Purchasers and any person or
persons controlling any Initial Purchaser within the meaning of Section 15 of the Act and (B) the
indemnity agreement of the Initial Purchasers contained in Section 8(b) of this Agreement shall be
deemed to be for the benefit of directors of the Company and the Guarantors, officers of the
Company and the Guarantors and any person controlling the Company or the Guarantors within the
meaning of Section 15 of the Act. Nothing in this Agreement is intended or shall be construed to
give any person, other than the persons referred to in this Section 15, any legal or equitable
right, remedy or claim under or in respect of this Agreement or any provision contained herein.

     16. Survival. The respective indemnities, representations, warranties and agreements of the
Company, the Guarantors and the Initial Purchasers contained in this Agreement or made by or on
behalf on them, respectively, pursuant to this Agreement, shall survive the delivery of and payment
for the Notes and shall remain in full force and effect, regardless of any investigation made by or
on behalf of any of them or any person controlling any of them.

     17. Definition of the Terms “Business Day” and “Subsidiary”. For purposes of this Agreement,
(a) “business day” means any day on which the New York Stock Exchange, Inc. is open for trading and
(b) “subsidiary” has the meaning set forth in Rule 405 of the Rules and Regulations.

     18. Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of New York.

28

 

     19. Counterparts. This Agreement may be executed in one or more counterparts and, if executed
in more than one counterpart, the executed counterparts shall each be deemed to be an original but
all such counterparts shall together constitute one and the same instrument.

     20. Headings. The headings herein are inserted for convenience of reference only and are not
intended to be part of, or to affect the meaning or interpretation of, this Agreement.

[Signature Page to Follow]

29

 

          If the foregoing correctly sets forth the agreement among the Company, the Guarantors, and the
Initial Purchasers, please indicate your acceptance in the space provided for that purpose below.

Very truly yours,

	 	 	 	 	 	 	 
	MARINER ENERGY, INC.
	 
	 	 	 	 	 	 
	By:
	 	/s/ Jesus G. Melendrez	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Jesus G. Melendrez	 	 
	 

	 	Title:
	 	Vice President—Corporate Development	 	 
	 
	 	 	 	 	 	 
	MARINER ENERGY RESOURCES, INC.
	 
	 	 	 	 	 	 
	By:
	 	/s/ Jesus G. Melendrez	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Jesus G. Melendrez	 	 
	 

	 	Title:
	 	Vice President—Corporate Development	 	 
	 
	 	 	 	 	 	 
	MARINER LP LLC
	 
	 	 	 	 	 	 
	By:	 	Mariner Energy, Inc., its sole member
	 
	 	 	 	 	 	 
	By:
	 	/s/ Jesus G. Melendrez	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Jesus G. Melendrez	 	 
	 

	 	Title:
	 	Vice President—Corporate Development	 	 
	 
	 	 	 	 	 	 
	MARINER ENERGY TEXAS LP
	 
	 	 	 	 	 	 
	By:	 	Mariner Energy, Inc., its general partner
	 
	 	 	 	 	 	 
	By:
	 	/s/ Jesus G. Melendrez	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Jesus G. Melendrez	 	 
	 

	 	Title:
	 	Vice President—Corporate Development	 	 

[Purchase Agreement Signature Page]

30

 

 

Accepted:

LEHMAN BROTHERS INC.

J.P. MORGAN SECURITIES INC.

BNP PARIBAS SECURITIES CORP.

HARRIS NESBITT CORP.

RAYMOND JAMES & ASSOCIATES, INC.

WEDBUSH MORGAN SECURITIES INC.

By LEHMAN BROTHERS INC., as Authorized Representative

	 	 	 	 	 
	By:
	 	/s/ David B. Andrews	 	 
	 

	 	 

Name: David B. Andrews
	 	
	 

	 	Title: Senior Vice President	 	 

[Purchase Agreement Signature Page]

31

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