PLAINS MARKETING, L.P. LETTERHEAD] Crude Oil Purchase Contract
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[PLAINS MARKETING, L.P. LETTERHEAD]
| CONTRACT NO. 4765-1001 | June 1, 2002 |
This contract by and between Presco Western, LLC ("Presco"), with an address of ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ and Plains Marketing, L.P., ("PMLP"), covering the sale and delivery by Presco and the purchase and receipt by PMLP of the hereinafter specified oil is entered into in accordance with the following team and conditions:
| 1. | TERM: | The primary term shall be a period of one (1) month from June l, 2002 to July 1, 2002. | ||
The term shall be automatically extended fora 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. |
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2. |
QUANTITY |
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| AND | ||||
| CRUDE TYPE: | Kansas Sweet Crude Oil. | |||
3. |
QUANTITY: |
An amount equal to deliveries. |
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4. |
DELIVERY: |
Shall be made at the well tankage into PMLP's designated transportation facilities. |
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5. |
PRICE: |
For the crude oil sold and delivered hereunder, PMLP agrees to pay a price per barrel equal to PMLP's Kansas Common Crude Oil Posting, deemed 40.0° API gravity. For pricing purposes, deliveries will be calculated on equal daily quantities. |
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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 Presco by PMLP and executed by Presco 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:
Notices and all other correspondence to PMLP shall be mailed or faxed as follows:
Plains
Marketing, L.P.
P. O. ▇▇▇ ▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Phone: (▇▇▇) ▇▇▇-▇▇▇▇
Fax: (▇▇▇) ▇▇▇-▇▇▇▇
Invoices shall be mailed or faxed to PMLP as follows:
Plains
Marketing, LP.
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
Phone: (▇▇▇) ▇▇▇-▇▇▇▇
Fax: (▇▇▇) ▇▇▇-▇▇▇▇
Notices and all other correspondence to Presto shall be mailed or faxed as follows:
Presco
Western, LLC
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Phone:(▇▇▇) ▇▇▇-▇▇▇▇
| BUYER | SELLER | |||
Plains Marketing, LP. |
Presco Western, LLC |
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| By Plains Marketing GP Inc. its General Partner |
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Agreed to and accepted this 2 day of August, 2002. |
Agreed to and accepted this 21st day of August, 2002. |
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By: |
/s/ ▇▇▇▇ ▇▇▇▇▇▇ |
By: |
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇ |
|
Name: |
▇▇▇▇ ▇▇▇▇▇▇ |
Name: |
▇▇▇▇▇▇▇ ▇. ▇▇▇▇ |
|
Title: |
Director, Oklahoma Kansas Region and Attorney in Fact |
Title: |
President |
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Crude Oil Purchase Contract