PLAINS
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MARKETING, L.P
CRUDE OIL PURCHASE CONTRACT
CONTRACT NO.6114-1001 January 25, 2005
This contract by and between ANADARKO PETROSEARCH, L.L.C. ("ANADARKO"), with an
address of ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ and PLAINS MARKETING,
L.P., ("PMLP"), covering the sale and delivery by Anadarko and the purchase and
receipt by PMLP of the hereinafter specified oil is entered into in accordance
with the following terms and conditions:
1. TERM: The primary term shall be a period of 6 months from
February 01, 2005 to August 01, 2005.
The term shall be automatically extended for a
Secondary Term month to month thereafter unless notice
of non-renewal is given by either party hereto upon not
less than thirty (30) days advance written notice to
the other party.
2. QUALITY Oklahoma Sweet crude oil.
AND
CRUDE TYPE:
3. QUANTITY: An amount equal to actual lease receipts from lease (s)
indicated on Exhibit "A" attached hereto and made a
part hereof. (Approximately 50 barrels per day)
4. DELIVERY: Shall be made at the well tankage into PMLP's
designated transportation facilities.
5. PRICE: For the crude oil sold and delivered hereunder, PMLP
agrees to pay a price per barrel equal to PMLP's
Oklahoma Sweet Central Crude Oil Posting, deemed 40.0
API gravity. Plus an additional $ 2.0000 premium as
indicated on Exhibit "A" attached hereto and made a
part hereof. For pricing purpose, deliveries will be
calculated on equal daily quantities.
6. PAYMENT: Payment shall be made by check on or about
the twentieth (20th) day of the month following the
month of delivery.
PMLP's General Provisions dated February 01, 2001 are incorporated herein by
reference and made a part hereof. To the extent of any conflict between the
provisions herein and the General Provisions, the provisions herein shall
govern.
If Division Orders have been issued to ANADARKO by PMLP and executed by ANADARKO
covering the ▇▇▇▇▇ on Exhibit A, the Division Orders are incorporated herein and
made a part hereof. The provisions of this Agreement, including but not limited
to those relating to term, rights of termination, price and otherwise, shall be
applicable and govern, notwithstanding any provision in the Division Orders to
the contrary.
All invoices and notices given pursuant to this agreement shall be in writing,
telex or faxed and shall be deemed delivered when received by the other party at
the address specified below:
Plains Marketing GP Inc., General Partner
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇ - ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ - ▇▇▇-▇▇▇-▇▇▇▇ - Fax
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Notices and all other correspondence to PMLP shall be mailed or faxed as
follows:
Plains Marketing, L.P.
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
Phone: (▇▇▇) ▇▇▇-▇▇▇▇
Fax: (▇▇▇) ▇▇▇-▇▇▇▇
Invoices shall be mailed or faxed to PMLP as follows:
Plains Marketing, L.P.
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
Phone: (▇▇▇) ▇▇▇-▇▇▇▇
Fax: (▇▇▇) ▇▇▇-▇▇▇▇
Notices and all other correspondence to ANADARKO shall be mailed or faxed as
Follows:
Anadarko Petrosearch, L.L.C.
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇ ▇▇▇▇
▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Phone:(▇▇▇)▇▇▇-▇▇▇▇
Fax: ( ) -
BUYER SELLER
Plains Marketing, L.P.
By Plains Marketing GP Inc. Anadarko Petrosearch, L.L.C.
Its General Partner
Agreed to and accepted this 29 of day Agreed to and accepted this day of
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of Jan , 05. , .
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By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Director, East Texas and North Title: CFO
Title: Louisiana Region and ----------------------
Attorney in Fact
Plains Marketing GP Inc., General Partner
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇ - ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ - ▇▇▇-▇▇▇-▇▇▇▇ - Fax
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EXHIBIT "A"
PLAINS MARKETING L.P. Jan 25, 2005
Plains contract: 6114-1001 Effective: 02-01-2005 Partner Contract: Page 1 or 1
APPLICABLE
REMIUM
PM PRICE OR STATE
LEASE LEASE OPERATOR COUNTY/PARISH STATE PRICE CODE* METHOD** (DEDUCT) PERCENT GRAVITY LEASE
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122987 ▇▇▇▇▇▇ ▇-▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ EDQ $ 2.0000 100.00000% Deemed 40.0 API 000000
OPERATING CO LP
(*)S2074 PLAINS MARKETING LP-OKLAHOMA SWEET CENTRAL
(**)EQUAL DAILY QUANTITIES