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injection facilities, saltwater disposal facilities, compression facilities, gathering systems
(including, without limitation, the Colorado Gas Gathering System, the Morales Gas System
and the Tocito Dome Gathering System), and other equipment) located on the properties
described in subsections (a) and (b) above and used in connection with the exploration,
development, operation, gathering, transportation or maintenance thereof (or with respect to
production therefrom), and in and to all permits, licenses, rights of way, easements, and other
rights of surface use used in connection with the exploration, development, operation,
gathering, transportation or maintenance of the properties described in subsections (a), (b) and
(c) above, to the extent and only to the extent such rights, titles and interests are attributable to
the properties described in subsections (a), (b) and (c) above; and
(e) To the extent transferable, all representations, warranties and indemnities made by third
parties in favor of Grantors with respect to the properties described in subsections (a) through
(d) above.
The properties, rights and interests specified in the foregoing subsections (a), (b), (c), (d) and
(e) exclusive of the properties, rights and interests excluded below, are herein sometimes
collectively called the "Properties." Except for gas imbalances, the Properties do not include,
and there are hereby expressly excepted and excluded therefrom and reserved to Grantors all
rights and choses in action, arising, occurring or existing in favor of any Grantor prior to the
Effective Date or arising out of the operation of or production from the Properties prior to the
Effective Date, including, but not limited to, any and all contract rights, claims, receivables,
revenues, recoupment rights, recovery rights, claims arising under Chapter 5 of Title 11 of the
U.S. Code, accounting adjustments, mispayments, erroneous payments or other claims of any
nature in favor of any Grantor and relating and accruing to any time period prior to the
Effective Date (the "Retained Rights All costs and expenses incurred in connection with the
Retained Rights shall be the responsibility of Grantors.
TO HAVE AND TO HOLD the Properties unto Grantees, their successors and assigns,
forever.
This Conveyance is made without representation or warranty of any kind (including, without
limitation, any warranty of title), all representations and warranties being expressly disclaimed.
Grantors intend, through this Agreement, to sell to Grantees (and Grantees intend to purchase
from Grantors) all right, title and interest of Grantors in Grantors' exploration. and production
assets of the kind and character described in subparagraphs (a) through (e) above (other than
the Retained Rights), to the extent the same relate to the lands, leases, wells and units set forth
in Exhibit A, whether or not the decimal interests, wells, leases or lands are fully or
accurately described in Exhibit A.
Grantors agree that they shall execute and deliver, and shall otherwise cause to be executed
and delivered, from time to time, such further instruments, notices, division orders, transfer
orders and other documents, and to do such other and further acts and things, as may be
2
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TANSIRO
By: gelidea
Name: }-A M a\aAtyr. vim*
Title: (+es CGIe -r4
By: 411
Name: 1.4 Ack,l cal l')%- �o
Title: fir -es
By:
Name: ark A. Fischer
Title: Manager
By: dp
Name: ark A. Fischer
Title: Manager
4
BRISTOL RESOURCES PRODUCTION
COMPANY, L.L.C.
by its Managing Member,
Bristol Resources Corporation
BRISTOL RESOURCES 1994
ACQUISITION LIMITED
PARTNERSHIP
By its General Partner,
Bristol Resources Corporation
"GRANTEES"
CHAPARRAL OIL, L.L.C.
CEI BRISTOL ACQUISITION, L.P.
By its General Partner,
Chaparral Oil, L.L.C.
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VIAIOHV'TO dO RIVIS
08"8S413
STATE OF OKLAHOMA
ss.
C48
COUNTY OF TULSA
Before me, the undersigned, a Notary Public, in and for said County and State, on this
day of September, 2000, personally appeared H. Malcolm Lovett, Jr., to me known to be
the identical person who subscribed his name to the foregoing instrument as President of Bristol
Resources Corporation, and acknowledged to me that he executed the same as his free and
voluntary act and deed and as the free and voluntary act and deed of such Corporation as the
General Partner of Bristol Resources 1994 Acquisition Limited Partnership for the uses and
purposes therein set forth.
Given under my hand and seal of office the day and year last above written.
My Commission Expires:
e
IN AND FOR
STATE 0
O ''QA HO
Notary Public Oklahoma
L
SHARON B. JOHNDROW
Tulsa County
Commission Expires 10-30-2003
7 ,3
O CGr
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STATE OF OKLAHOMA
ss.
COUNTY OF TULSA
Before me, the undersigned, a Notary Public, in and for said County and State, on this
day of September, 2000, personally appeared Mark A. Fischer, to me known to be the
identical person who subscribed his name to the foregoing instrument as Manager of Chaparral
Oil, L.L.C., and acknowledged to me that he executed the same as his free and voluntary act and
deed and as the free and voluntary act and deed of such limited liability company for the uses
and purposes therein set forth.
Given under my hand and seal of office the day an
p lf
i ar last above 'tten.
Notary Public
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Property Name County State Sec Twnshp Rnge
Svy (TX) BIk /Abs (TX)
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LINCOLN
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112W
LABARGE #1
LINCOLN
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LINCOLN
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OS 88113
EXHIBIT A
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TRUE COPY 1 CERTIFY
ATTEST:
MILBY, Clerk of Court
Deputy Clerk
MICHAEL
By
EXHIBIT B
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
CORPUS CHRISTI DIVISION
Mich
United Stntes bent ruatcy Court
Southern tliletict of TIM'S
ENTEWZD
1 E 2000
Ie
C52
IN RE:
;.1:i Cc id
BRISTOL RESOURCES 1994 Case No. 00-21156-C-11 i%X.6
ACQUISITION LIMITED
PARTNERSHIP
n
BRISTOL RESOURCES CORPORATION Case No. 00- 21157 -C -11a /�f`�`
BRISTOL RESOURCES PRODUCTION Case No. 00-21169-C-11
COMPANY, L.L.C.
p w K c p W 1 JOINTLY ADMINISTERED DEBTORS
WC UNDER CASE NO.00- 21156 -C -11
ORDER APPROVING:
(I) SALE OF SUBSTANTIALLY ALL OF DEBTORS' OIL GAS
PROPERTIES FREE AND CLEAR OF ALL CLAIMS, LIENS,
INTERESTS AND ENCUMBRANCES PURSUANT TO
SECTIONS 105 AND 363 OF THE BANKRUPTCY CODE,
SUBJECT TO THE TERMS OF A PURCHASE AND SALE AGREEMENT;
(II) ASSUMPTION AND ASSIGNMENT OF CERTAIN EXECUTORY
CONTRACTS PURSUANT TO SECTION 365 OF THE BANKRUPTCY CODE
AND RULE 6006 OF THE BANKRUPTCY RULES AND FIXING
CURE AMOUNTS THEREUNDER; AND
(III) REJECTION OF CERTAIN EXECUTORY CONTRACTS PURSUANT
TO SECTION 365 OF THE BANKRUPTCY CODE AND RULE 6006
OF THE BANKRUPTCY RULES AND ESTABLISHING A BAR DATE
FOR THE FILING OF CLAIMS FOR REJECTION
DAMAGES ARISING FROM THE REJECTION OF SUCH CONTRACTS
The Court has considered the motion of Bristol Resources Corporation "Bristol Corp.
Bristol Resources 1994 Acquisition Limited Partnership ("Bristol L.P.") and Bristol Resources
Production Company, L.L.C. "Bristol L.L.C. (collectively, the "Debtors seelcing entry of an
at-der (i) authasizing the Debtors to sell substantially all of their oil and gas properties free and
clear of liens, cjaicrts, interests and encumbrances to Chaparral Oil, L.L.C. and CEl Bristol
Acquisition, L.P. (collectively, "Buyer subject to the terms of a purchase and sale agreement;
/UC
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4. Notice of the Sale Motion, the Sale Hearin
assi
gnment of the Assigned Contracts is sufficie nt and Hearing thereon, and the assumption and
proper and complies with all applicable
provisions and requirements of chapter 11 of title 11 of the United States Code de (the "Bankruptc
Federal Rules ofBankruptcy Procedure, and the Local Rules ofB
(i) has been provided in accordance with 11 U.S.C. 102(1), anlar'uptcy procedure, and
2002, 6004, 6006, 9014 and 9019 and in 363 and 365 and Fed. R. B�, P.
in compliance with the Procedures Order, (ii) such notice was
good and sufficient, and appropriate under the particular circumstances
no of the Sale Motion or Sale Hearing, 'and (iii) no other or further
g, or the assumption and assignment of the Assigned
Contracts is or shall be required.
5. As demonstrated by (i the testimony and other evidence proffered or adduced at the
Sale Hearing and (ii) the representations of counsel made on
Debtors have marketed the Assets and conducted he record at the Sale Hearing, the
cted the sale process in compliance with the Procedures
Order.
6. Each Debtor (i) has full corporate power and authority to execute the Sale
and all other documents contem fated thereb and
p thereby, and the sale of the Assets by the Debtors has been
duly and validly authorized by all necessary corporate action of each of the Debtors,
the corporate power and authority necessary (ix) has all of
ary to consummate the transactions contemplated by the
Sale Agreement, (iii) has taken all corporate action necessary to authorize and approve the Sale
Agreement and the consummation by such Debtors of the transactions contemplated
consents or approvals, other than those expressly p ted thereby. No
P y provided for in the Sale Agreement, are required
for the Debtors to consummate such transactions.
7. On April 18, 2000, Wells Fargo Bank (Texas), N.A. "Wells" and CIBC, inc.
"CIBC filed involuntary petitions under Chapter 11 of the Bankruptcy Code against
Bnstol L.P.
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-meet+ •apo0 i(o;diu uga ago 3 8011 PR L0I 1 of ;umnsmd uorssassod ut szo ;qap sE Apodoid
ztacp aSsuetu 0; anuquoo pue slam naq; 3o uotssassod ur uirwaz szo ;qaQ at11, •6
•apO3 Xoldn1Nusg agl jo (q)Z01
pus (s)Z0i i o; luensmd Sgseol(o ;dru u'g ,szo ;qaQ atp ut „aa ;twutoj sioitpaz0„ alp) szolipaz0
pamoasun jo aai ;tunuo0 lstotgp aq; pa;utoddE Apuanbasgns oo)sni i, sa;e ;s po ;tun au, 'szo ;qa ai
3o gaea isut5BE mar Io3 tropic) pozolua uno3 21 11'000Z `b iC 11 0 'zO ;qaQ g3Ea lsut28E;atlaz 103
szapzopo AIM alp o; Sut;izasuoo 9131ASUE poly szo ;qaQ otp j0 gaEa 000Z N u0 8
'ail longrg rsuTESE apoD Ao ;dnzalurg atp 30 11 ia;dsto zapun uoppad
XIElunTOAUI um poly (.,au0 lueg,,)
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au0 )tuEg `000Z `81 iudy u0 'cii0j 1 PUB
O8b8S43
56
13. On June 9, 2000, the Debtors reopened its data room at the offices Lee Keeling and
Associates, Inc. "Keeling in Tulsa, Oklahoma, its Court retained petroleum consultants under the
direction of John Houser, Vice President of Engineering at Bristol Corp. The Debtors' properties
have been re- marketed, the Debtors' reserve reports have been updated by Keeling and offers have
been considered from all potential buyers who have submitted offers as of the date of the Sale
Hearing.
14. The Debtors continued their marketing efforts by, among other things, (a) contacting
potential buyers including certain buyers identified pre petition byPetrie, Parkman Co. "Petrie
(b) distributing further information to qualified prospective buyers who, contacted the Debtors on
request whether or not previously identified pre petition by Petrie, (c) contacting other qualified
prospective buyers, (d) overseeing and assisting with due diligence investigations, and (e) re-
establishing the data room for the Debtors' properties for due diligence and continued to do so until
this Court approved the sale of the Debtors' assets.
15. The Debtors received offers prior to September 1, 2000 from numerous bidders for
either some or all of the Debtors' properties, including an offer from Chaparral Oil, L.L.C. and CEI
Bristol Acquisition, L.P. (collectively, "Chaparral). After a process of analyzing the various offers,
the Debtors, determined that Chaparral's offer as of September 1, 2000, constituted the best offer
for the Debtors' oil and gas properties, contained the most favorable terms, and provided the greatest
likelihood ofbeing consummated. The Buyer's offer is memorialized in the Agreement of Purchase
and Sale dated as of September 1, 2000 among the Debtors and Buyer (the "Sale Agreement
16. The Sale Agreement provides for the Debtors to sell and transfer substantially all of
their oil and gas properties (more particularly set forth at Exhibit A of the Sale Agreement) and
certain other assets including the Assigned Contracts (as hereafter defined) (collectively, the
"Properties to Buyer free and clear of all liens, claims and encumbrances pursuant to 363(b) of
3
9
•anilstuant algeltens leorioe"
aagio ,Cue Kq paptno.td aq mom lip sallied palsaaaiut iagio pus mum `,saolgaQ aql ao3 Xaanooaa
IsaieazS alp saptnoid pus saoltpm Ytattl pus salElsa atp "o3 gassy ,saieisa am 3o anise agl amosald
of kaessaoau st puu stoltpato o3 uotlnqulstp ao3 gassy ,saieisa aq1 Jo amen umugxew al; azgeaa
of Xitunuoddo isoq alp sivasa.zd Iuawaaa8y is atti 3o suual at{; of luensmd aaKng of soivadoad
aqi ;o Bias aqi '"aqun3 •stoitpaio sit pue alBisa atp Jo ;swam! ;sag attl lit st pue saoueistunap
aqi 3o IgStl ut uotstoap ssautsnq aigsuoseai a st Iuawaaa v ales alp Jo staual alp of iuensmd
aaAng of sacuadoid ag; Jo ales agi sngi pue ivatuaaav is ;q; jo suual agi of luensmd iaAng o}
sapaadoad agl Jo algs agl Sut tisnf suoseat ssautsnq luatot3,ins pue pool paletnotue anti sioigau
aql •satuadoad alp ao3 as o ;sag pus lsag8itt agl sauasoidoi uo3Eiapisuo3Ielo1 arid, '6I
„uoietaptsuoj tepi Bgl `iPAiloaiioo) 'v'14
`etuogixj 3o Tree quit paltsodap SEM IEttl (aoud asegoand am Jo %0I $utioal;ai) 00'000`05V`L$
Jo mama iCauow;sauaea tie glt■n (saouelegwi ss2 Sutpnlout'sivatulsnfps lisp;Apolla -Isod uteuao
of loa[gns) 00'000`005 %7 3o aoud asego"nd B iol saptnoid ivawaai$d BIBS Btu 81
'(„slosiluo3 paloafag„ ago) S9£ '3'S'f 11 of iugnsmd loofa”
of Aluogine Maas siolga j atp leg; (saiiadoid Supeaado -uou pUB Supytado ao3 sivatuaaa$e Sut ;E "ado
Rol Sutpnlout) saseal pa"idxaun pus siosaiuoo fuolnoaxa Jo 1st' a pug `(„sloe"iuo3 pauStssd„ agl
'JClanpoottoo) "Bang of uStsse aaijeaiagi pare 59£ .3.s .n it of luensmd awnsse of ifipottins Maas
saolgaQ alp iegl (satuadoad Supeiado uou puE Supe "ado aoj sivautaa22E Sutieaado iutof sutpntout)
soseal pondxoun pus SY3E"iuoo ktoinoaxa Jo lsq E sapnlout iaatuaa"Sy is aqi L1
•salelsa ,siolgaQ aqi of SutSuolaq uotioE 3o sasneo pus st111E10 iaglo pus suopoe
aotteptons .to quo apnlout loll op luoutoaay ales agl "aptm Nos Bq of satuado"d agl 'uopeittuil
inoqum puE iflEOgtoads •ivawaa.a2y ales agl lit quo3 las iCissa"dxa SE idaoxa stoigaQ aq2 Jo slasse
ICuE apnlout loll op satuado"d aqj •luatuaaa2y ales aqi g aoUEpa000e ut `apoD ItoidnnluEg agl
20, The Total Consideration to be paid and/or assumed by Buyer is fair and constitutes
reasonably equivalent value and reasonable market value for the Properties under the Bankruptcy
Code and the laws of the United States, any State, territory or possession or the District of Columbia.
21. The earnest money escrow (plus accrued interest) is only refundable to Buyer in the
event a material breach of the Sale Agreement by the Debtors in the absence of a material breach by
Buyer, or in the event the Sale Agreement is terminated by the Debtors or Buyer in the event certain
conditions precedent are not met.
22. Unless otherwise provided in the Sale Agreement, Buyer shall not assume or become
liable for any liens, claims, interests and/or encumbrances relating to the Properties. Any such liens,
claims, interests, and/or encumbrances shall attach to the proceeds of the sale. Moreover, the parties
agree that all accrued but unpaid lessors' royalties, overriding royalties and/or payables to working
interest owners as of the Effective Date not the subject of suspense (excluding those subject to the
Temporary Restraining Order and Preliminary Injunction entered by the Court on August 21, 2000
in Adversary Proceeding No. 00 -2100) shall be paid by the Debtors as soon as practicable after
closing from the purchase price tendered by Buyer.
23. The Debtors' and Buyer's obligations to consummate the Sale Agreement are subject
to the conditions set forth in the Sale Agreement. The sale of the Properties must be approved and
consummated promptly in order to preserve the value of the Properties.
24. The Sale Agreement requires the Debtors to pay Chaparral a termination fee in an
amount of S400,000.00 if, and only if (i) all conditions precedent set forth in the Sale Agreement
have been met or waived in writing before the date of the hearing on this Motion, and (ii) the Sale
Agreement is riot approved by the Court at the hearing because the Debtors have received offer(s)
to purchase all or a substantial portion of the Properties, which are approved by the Court and such
offer(s) result in an actual sale of the Propertics to a buyer other than Chaparral or its affiliates. The
•s)assy aq)3o aigs alp wog spaaoord mil or pens imp soured eons 3o sugvio iie pus Ally
•apoD AoldruluEg aq)3o (I) £9£ uotloas of luensmd suati lions Jo nolo pus aar3 sapiradord aql Has use
srolgaQ Bq j •satuadord aqi Jo uiepoo uo suati pairasse anti (uolloyi ales aq) ut pagpuapt sound
raq)o pus auO 3ing 'pap 'Rpm `ol paltwti lou Inc! `Sutpniout) sabred utelrap '8Z
•iapip stgl3o Arlua ail zags sawtl He le pUE )uamaaiSy
ales aqi Aq paieldwa)uoo suogoesum) aql Sutsop ut (w)£9£ 'D'S'fl 113o Sutusour atp utt)!M
gue3_ pooS ut Sutioe aq IItM taAna •Xgaragl pimps suotpalord alp Jo iie of palitlua arg siapual sit
pug raAng `tons `pus (w)£9£ 'p'S'n i I ram rasEgomd tite3 pooS E s! raAng 'LZ
(u)£9£ "O'S' fl
I i Japun paptone oq o) )uatuaar2y aies aql lluuad Jo asneo pinoM lEgl lonpuoo Aug ut paSeSua
anti roAng rou siolq Q aqi ratnta1l suotitsod Suttne2rsq giSuai- s,urre wog pug `tllte3 poo2 ut
'uotsnlloo )not itt raAng pus srolgaa agl iCq oiut paralua pus pasodord'paleio2au ssM luawaai2y
21ES aq.L '(1861 qiS) L 'u 88£I PZ'3y£9 ouj aute)uoJnaig aJ ul Sutito `(686 1 'xa L •a'rI)
Z176 `8£6 'X'S 901 ')iugg atlgnaax isnd -n =warp parnoasun rotuas 30 •ucwop Ieto93O •apoD
JCoidn nitceg ati 30 (tu)£9£ uot)oas 3o uogoalord atl o) pal)pua Si ra,Cng iSutpJ000y •uotsnlloo
lnoq)cne pug tpuai s, wre le palonpuoo araM leg) suogetioSou girgj pool pus antsualxa'letiuelsgns Jo
lonpord atli st ivawaai2V ales aq,I, 'WET pooS trt sapradord aq) 8utsegornd st i Cna '9Z
•srotgaQ aql o) alquitsne (uotleturoJui anaudoid
ueq) iatp)) sleuannu aoua2tlep anp stt aputu set raAng •satlradord alp 3o uot)aadsut umo s)t
uodn Aialos Suti(lai'stseq „st aragmn„ „`st se„ ue uo sourodord aql Sutsegomd st raAng .5z
loppO sampaoord alp w tp.io3 las so `ssautsnq Jo asmoo Asutpro aqi ut pted asogl usgi .iaglo
asuadxa angerxstuturpe iluoudradns e se palsari aq hells aa3 uotleutuua) at{L •saouelswnarto otp
Japun aigeuosear pus _us st luawaarSy ales aql ut paisldwaluoo aa3 uotleutuuai atp isti spug mop
!3
8
ttISFinf. 0
ObCtS611` 0 6 0
29. Requirements of section 363(b) and section 363(1) of the Bankruptcy Code and any
other applicable law relating to the sale of the Properties have been satisfied.
30. Any and all liens, claims, interests and encumbrances attaching to the Debtors'
interests in the Properties not expressly assumed by Buyer, including, but not limited to, any and all
mechanic's and materialmen's claims and operator's liens and the claims of parties who assert
working interests and/or overriding royalty interests in the Properties, not paid as set forth in this
Order, shall be transferred from. the Debtors' interests in the Properties and shall attach to the
proceeds of the sale.
31. The assumption and assignment to Buyer of the Assigned Contracts is in the Debtors'
economic best interest because the assumption and assignment of such executory contracts is an
integral part of the sale of the Properties.
32. The Debtors and Buyer have provided adequate assurance of Buyer's future
performance of and under the Assigned Contracts, within the meaning of 11 U.S.C. 365(b)(1)(C)
and 365(0(2)(B).
33. Payment of amounts to cure defaults pursuant to section 365(b) of the Bankruptcy
Code will be made by the Debtors in connection with the assumption and assignment of the
Assigned Contracts under the Sale Agreement. All accrued but unpaid lessors' royalties, overriding
royalties and/or payables to working interest owners as of the Effective Date not the subject of
suspense (excluding those subject to the Temporary Restraining Order and Preliminary Injunction
entered by the Court on August 21, 2000 in Adversary Proceeding No. 00 -2100) shall be paid by the
Debtors as soon as practicable after closing from the purchase price tendered by Buyer.
34. Buyer has provided adequate assurance of future performance of the Assumed
Contracts sufficient to satisfy section 365(f)(2) of the Bankruptcy Code.
9
of
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aletuwnsuoa lou monk pue luatuaal2y aIeS aql owl palalua anti 1ou pjnoM laJ{ng :Ob
•luautaaiSy airs alp ui pasposap slgSu aseg3lnd jEtlualaJa1d;o luatuleall aril
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,Cue 13233; o1 uopdo so 1118111 X.)led AuE 0) ants 0) llodmd MI) (V) slsalalui (t) HE 30111213 put; oar;
satuadold alp 0; siolgau 914) JO 1S319)U1 pus arm 1143u us glun lar(ng;san rpm pus `sailladold attl
JO 13JSUE1) antlaaija pus pgen'je$aj E aq rumJaAng o1 satlaadold 94133 1ajsuell
04.1, '6C
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pue uoilow ales alp 01 loads;; tptM pleat! aq 10 loafgo o; i(ljunlloddo aigeuossal y •g£
•uotlsztuW81oa13o mid a ‘Jo apcslno pie b1
loud (q)£9£ 'Z'ST1 it 0 1 laensmdajes ag110J saauslsumolno 8utIIaduro3 (u) pue uotlsoupsn f puE
asodlnd ssaursnq punos pus luatowns `poo8 (t) gloq palellsuourap aim{
slolg9Q atu 'L£
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a111 ut ale atuj; S11j1 le ales ag13o uopstutunsuo3 pus ltrawaal8y airs ag) J0 jUnoiddy •9£
lalels* atll 01 anjen 3133
2111 Sl3rrlio3 pal3af3J ag1 pue 11131113133 paloafaN agl 103 asn atgetn Ajjeoauouo32 tre 3Aril 138001
ou sa)E1S3 ag3 'sl3E1luoo £loln3axa Irons 3o luauru21sse puE uopdtunsse aq1 ;OSnos lou seq 13i t1
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T99
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66 9
41. The Debtors may sell the Properties free and clear of all Interests of any kind or
nature whatsoever because, in each case, one or more of the standards set forth in 11 U.S.C.
363(0(1) (5) has been satisfied. Those (i) holders of Interests and (ii) non debtor parties 10
Assigned Contracts who did not object, or who withdrew their objections, to the sale or the Sale
Motion are deemed to have consented pursuant to 11 U.S.C. 363(0(2). Those (i) holders of
Interests and (ii) non debtor parties to Assigned Contracts who did object fall within one or more
of the other subsections of 11 U.S.C. 363(0 and are adequately protected by having their Interests,
if any, attach to the proceeds of the sale ultimately attributable to the property against or in which
they claim or may claim an Interest.
42. The sale of the Properties to Buyer is a prerequisite to the Debtors' ability to confirm
and consummate a plan or plans of liquidation.
43. Notwithstanding anything herein or in the Sale Agreement to the contrary, the
Debtors are not selling any compressors owned by El Reno Oil Field Services, Inc. nor are the
Debtors assuming, rejecting or assigning any leases of such compressors pursuant to the Sale
Agreement.
IN ACCORDANCE WITH AND BASED ON THE FOREGOING, IT IS HEREBY
ORDERED, ADJUDGED AND DECREED THAT:
44. The relief requested in the Sale Motion is GRANTED in all respects. The terms and
conditions of the Sale Agreement are APPROVED in all respects. The sale process employed by
Debtors has established the fair market value for the Properties. In re Abbotts Dairies of
Pennsylvania. Inc., 788 F.2d 143, 149 (3r Cir. 1986)
45. Any objections .to the Sale Motion not resolved by the terms of this Order or
withdrawn, waived or settled and all reservations of rights included therein are hereby overruled and
'denied.
11
Zl
lug Sutsoi3 le pled aq lou hers sanuanaj Aura pitgi jo;unowe gans `Sucsoi3 at; uoileutuua;ap
of loafgns loin ro alndsip ut st sanuanal d mu, Aug ,lo lunotue alp ji •Jaifng £q paiapual
aoud aseg3ind alp wog (luawaaiSy asetpind ag; ut paugap se) SutsoD lap algeoilorid se uoos se
a ;ndstp apg euoq of ;oafgns ro (00I Z 'oN BuiPaaoo cd kresianpy ut 000Z `i Z lsnSny uo lmoJ OLD
iCq imam uopounful AJeutunlazd pup rapip SuiuiEJlsox £r 1oducal all of loafgns asogl Suipnloxa)
asuadsns jo log fgns agl;ou (luamaai8y alts am ut paugap se) algQ antloa3,;g aqua se „sanuanag
wed p1igy„ `4Cpnt;oaiio3) slaunno ;samalut Sap.tonn of saigeked JO/FIE sat;jEAol Sulpusano
`saiiEXo1 ,srossai ptedun
lug pancaou iig ,{ed of paloa1tp Aga.taq are siolgaQ GL '0S
•luatuaaJSy a;Es agl
3o suotstno.td lie tptnn iCidmoo hers pug pa ;aanp Xgatag are in pup sro ;qoa aqi 6b
•raprp .to/pue luawaaa2y is alp 'Cq pa ;eidwa;uoo
uotlou Awe awl of pug satl1adord agp,io gigs alp alewtunsuoo of faussaaau pup alquuoseai aq Amu se
sluautnoop ieuotltppe gans pug 2u2uta2.12y is aq; a ;eudoidde se proaai put ai3 `iantiap `alnoaxa
`ansst o; pug JapJO SR) pug luatuaa.av gigs amp suoistnoid agauo jig ino r(JJg, o; parantodwa pug
pazuotung Agaiaq 01E sAatuol ;e pue sans ;pluasaidar anpoadsax nags pug slolgaQ atii '80
.ales ag; a ;etumnsuoa of kressaaau pug aiquuoseai aq Amu
se s;uatunaop leuoptppe gans alnoaxa o; pug Lapp satnpaaora agl pug luatuaa1Sy aieS at m) stun;
aril ol;aafgns Jakng o; sat;ladoid aq ;3o aces alp a ;ewmnsuoo 0; pus '.ta/Cng q;tMM luamaa1SV ales
alit alnoaxa of pup o ;ut ra ;ua of pazpotiinu r(gaiaq are srolgaa aq; `£9£ o; luunsmd
'LP
•JapJo sup pug ;uawaaJSy
ales aq; Jo suual aql o; ;oafgns `raAng of (;uawaaav ales aq; ut paquosap suati pal ;iuuad
alp ;daaxa) saouergmnoua pug s;saralut `swteio `suaii LW 3o JEaio put aa.3 sapadord aq; Has o;
pazuoti ;ne Agaiaq are sro ;qa0 aq ;'apoo Xoldn.niutg aqp jo £9£ uol ;gas o; lugnsmd
'93
'9b
shall be paid as soon as reasonably possible after resolution of the dispute or final determination.
No Third Party Revenues that are subject to setoff by the Debtors shall be paid at Closing.
51. At closing of the sale and in accordance with the Sale Agreement, all of the Debtors'
right, title and interest in and to the Properties shall immediately vest in Buyer free and clear of all
liens, claims, interests and encumbrances of any type whatsoever (except the permitted liens
described in the Sale Agreement) pursuant to section 363 of the Bankruptcy Code.
52. Except as expressly permitted or otherwise specifically provided for in the Sale
Agreement or this Order, pursuant to 11 U.S.C. 105(a) and 363(f), the Properties shall be
transferred to Buyer, and as of the Closing Date, shall be free and clear of all Interests of any kind
or nature whatsoever, with all such Interests of any kind or nature whatsoever to attach to the net
proceeds of the sale in the order of their priority, with the same validity, force and effect which they
now have as against the Properties, subject to any claims and defenses the Debtors may possess with
respect thereto.
53. The transfer of the Properties to Buyer pursuant to the Sale Agreement constitutes
a legal, valid and effective transfer of the Properties and shall vest Buyer with all right, title and
interest of the Debtors in and to the Properties free and clear of all interests of any kind or nature
whatsoever, other than any liabilities assumed under the Sale Agreement.
54. Except as otherwise provided herein, any and all liens, claims, interests or
encumbrances of any type or nature whatsoever attaching to the Debtors' interests in the Properties
and that are being sold pursuant to the Sale Agreement shall attach to the proceeds of the sale in the
order of their priority to the same extent and with the same validity, force and effect as if the
Properties had not been sold.
55. The clerk of the court of the respective parishes and counties in which any liens,
encumbrances and/or disputed working interests shall have been filed on Debtors' interests in the
13
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-uou ptre Sut3e1ado Jo3 s3uawaarSe Sugerado )utof Sutpnlout) s)ae1)uo0 pauWrssy at i '6S
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•au0 pue `oen sham 3o saauerqurnaua pue suati ag)
Jo3 3da,xa sapado1d alp woy s3sara3ut Supponft pa3ndstp pue saouergwnoua'suali tons fe sat3uno3
pue sagsued gans 3o sproaai oggnd aq3 wo.r3 anourai pue jaauea o3 parapro .Cgarag are saurado.d
C; 93
08b C66
61. Any provision permitting a party to any of the Assigned Contracts to replace the
operator as a result of the Debtors' bankruptcy filing or sale of their interests is null and void and
unenforceable pursuant to 11 U.S.C. 365(1)(1). This Order does not affect or modify the
enforceability of any provision contained in an Assigned Contract that relates to the removal of an
operator and the election of a successor to an operator subsequent to Closing.
62. The Assigned Contracts will be transferred to, and remain in full force and effect for
the benefit of, Buyer in accordance with their respective terms notwithstanding any provision in any
such Assigned Contract (including those described in sections 365(b)(2) and section 365(f) of the
Bankruptcy Code) that prohibits, restricts or conditions such assignment or transfer; provided,
however, that such prohibition, restriction or condition of assignment or transfer shall be negated
only with respect to transfers and assignments by the Debtors to Buyer effected pursuant to the Sale
Agreement and this Order, and that such prohibitions, restrictions and conditions of assignment or
transfer shall otherwise remain in full force and effect and a part of the Assigned Contracts so
assigned or transferred.
63. Except as otherwise provided herein, all of the Debtors' rights and obligations under
the Assigned Contracts are fully assumed as of the Effective Date by Buyer, including without
limitation, all of Debtors' monetary and nonmonetary rights and obligations under the Assigned
Contracts, and the Debtors shall not be liable or responsible in any way for such Assigned Contracts
or any obligations thereunder except as provided in the Sale Agreement.
64. The failure of the Debtors or Buyer to enforce at any time one or more terms or
conditions of the Assigned Contracts shall not be a waiver of such terms or conditions or of the
Debtors' and Buyer's rights to enforce every term and condition of the Assigned Contracts.
15
91
2utouaptna sauautaa.e ao sluai.unaop iaglo 10 `suapuad sr j'suatj s,otuegaaw `sa21S>iow `sluawalvls
2utousug pal ssq leua auo olueg io parD `sjja j um iaglo i(lpua 10110110d Xue3I IL
•luatupsdap ao Aouage Bons Jo suopeln$ai pus vas' ajgeogdde
aql gltnn aouetldwoa ajgeuossai ut pus luauiaa.dy "aisS aq) Aq palejdwaluoo suotloesu!r ag1
aleununsuoo of aasudoidde pus i zcssaoau sauawtulsut pus sluatunoop us pus r(ue ldaooe of paloaitp
ICgaiau st auaunisdap ao Xoua9s jeluaunuano2
pool pus alsls'Iezapa3 liana pus gosg 0L
istxa astmaaglo Xsui.io papiooai uaaq anti hut slsaialul gone se'itue aql ut slsaiaaul
sit asealai of LIessaoau oq 4ew se suogos =no Its axe) pus sluawnoop pus alnoaxa of paloa.rtp
pus pazpogane st &u ntpan ,sioagaQ an 3o gosa 'ales atn 3o ma SutsojD aql up '69
'(u)£9£ apo3 iapun paptons aq lou Amu am a pus
ajgsuoseai pus Its) Si luawaaiSy IS au).tapun sapiodotd all 103 iaAng ifq papuold uotaslapisuoo
aqj •slgwnjoD3o pulsIQ aql io uotssassod'i1oltual'awls Aue'salels paltun a }3o sins' aql aapun
pus apo3 ag lapun uolleiapisuoo 1153 pus anjen luajentnba ,t'geuossai alnnpsuoo of pawaap aq rats
luatuaaLBV is agl aapun sataiadoid aga ao3 iaAng 4Cq papuold uotle1aptsuoa ac{ .gg
'sloadsai i1e tit Japap sup pus sapasd ais siolgaQ aql Jo Aug pupa oa luawaa12E
pistol Aug pus'auatua312 ales an oa pampa io Jamul 2utsus saandstp Aug anjos3a 'luauwaa12y ales
aqua suotstnoad agl 33103u0 pus laidiaaut oa uotlotpsun f antsnjaxa sutela1 lmo3 Ma 'L9
'ssolg3Q at)) lsuleffs
urle'o s Butalasse wog pauusq.Ianalo3 aq Hells iCagl 10 anpoa33a sauiooaq uotlaafal aql asp an wag
s sp 0£ io 303134 alsp aqa wog sAsp 0£ 3o Iasi ag1 wtsla 3o 3ooad a ajg lsnw slos1auoD paloafau
aql 3o Xue 3o uotaoafai aql uzoi3 8utsus wtejo s smog 1egl Aatlua io uosiad Airy '99
•panoidds Agaiaq
Jae luawaaa2y alas agl ut pagtluapt sloesluo3 paloafali agl3o uogoafat an aisS an Jo
a1sQ 2 "4 33 334 34130 se anpoa33a 'apo3 itoadtwlueg an Jo 59£ uopoas of lusnsmd
493
'59
Interests in the Debtors or the Properties shall not have delivered to the Debtors prior to the Closing,
in proper form for filing and executed by the appropriate parties, termination statements, instruments
or satisfaction, releases of all interests which the person or entity has with respect to the Debtors or
the Properties or otherwise, then (a) the Debtors are hereby authorized and directed to execute and
file such statements, instruments, releases and other documents on behalfof the person or entity with
respect to the Properties and (b) Buyer is hereby authorized to file, register, or otherwise record a
certified copy of this Order, which, once filed, registered or otherwise recorded, shall constitute
conclusive evidence of the release of all Interests in the Properties of any kind or nature whatsoever.
72. All entities who are presently, or on the Closing Date (as defined in the Sale
Agreement) may be, in possession of some or all of the Properties are hereby directed to surrender
possession of the Properties in accordance with the Sale Agreement.
73. Under no circumstances shall Buyer be deemed a successor of or to the Debtor for
any Interest against or in the Debtors or the Properties of any kind or nature whatsoever. Except as
expressly permitted or otherwise specifically provided for in the Sale Agreement or this Order, the
sale, transfer, assignment and delivery of the Properties shall not be subject to any Interests, and
Interests of any kind or nature whatsoever shall remain with, and continue to be obligations of, the
Debtors. All persons holding Interests against or in the Debtors or the Properties of any kind or
nature whatsoever shall be, and hereby are, forever barred, estopped, and permanently enjoined from
asserting, prosecuting, or otherwise pursuing such Interests of any kind or nature whatsoever against
Buyer, its property, its successors and assigns, or the Properties with respect to any Interest of any
kind or nature whatsoever such person or entity had, has, or may have against or in the Debtors, their
estates, officers, directors, shareholders or the Properties. Following the Closing Date, no holder of
an Interest in the Debtors shall interfere with Buyer's title to or use and enjoyment o f the Properties
17
81
ail ui paumssg satltltgey at{1 of laadsai tpin‘ suope2ggo 10 sapiligrg iaqun3 ou aneg pegs salelsa
1124) pug s1o1112Q 2111 SutsoiD xi; cage 'luawaaa2y airs alp uT paranoid se ld20x3 6L
Talmo
,siolgau aril uo loo, la asianpe leualeW a aneq lou soap luauzalddns so luatupuawe 'uoUeaiTpotu
Hans Aug Imp paptnoid'ltn03 agl ;o aapio aaglsn3 2notlltni.'3oaaatp natal alp tram aonepa000e ut pus
'sap.red tpoq pau2ts 2u1luann ue ut'olalagl sawed ail i(q paluawa1ddns so papuatue `patlipow aq
i(sw sluaumrisut laglo so sivatunaop `sluatuaasl3r paletas Aug pue maximally airs ata 8L
�Clasilua sli u► panoadde pue pazuotpne aq 02 luautaaiSy ales agl leg) ;mop alp
3o lualui atp Sutaq 2! 'uoisinosd lions Jo ssauantlonp atp aredutt ao gsTuitutp lou Hugs iap e, still ui
ivausaas2y ales 21113o suoisinosd 1e1nat}ted d(ug apniout of fllrogtoads 2m11e3 arid 'LL
'(w)£9£ 'Y s n 1 i (q papio33e suoiloalosd atp jo lie o1
pallilua asr saapual slt pug iaAng pug 'sailsadosd atp Jo tptel pooS ut aaseiaand a si .taAng •SutsolD
all aoud leaddg dons Suipuad pai(eis Ainp si uopezuoglne tlons ssalun 'sad{ng 02 ales alp Jo
XIlpiign agl 1 l0U tress ales ail a►ewumsuoa of uta•ag papinoid uopezuoglne alp Jo Ieaddg uo
uotlgogtpow so testanas at11'diguipaooar pug '(m)£9£ it ut pasn s! tuial Imp sr 'tpmj pool
ui aaAng Aq ualepapun ass luausaa v 21ES atp Aq pareidtualuoa suopoesueal aqj '9L
.sapsp aleS siiD Jo MUD) ail so luawaailly ales
atpuo suotsrnosd ail wo.g amSosap so g1u+n logjuoo pegs mid guns 2uLu11Juoo saseo asagl ut paia1ua
lama Aug so sass 282111111 pauinjuoo uotleztue$aoaa Jo mid Cue uT pauteluoo Sumo& 'SL
'211103 sn i Jo sapso sagvnl lnoq nn'luawaa1Sy a1!S atp ut paranoid sg .zatnmw pug awp alp ui
ssolgaQ alp ,(q pied aq Heys luatuaady ales alp o1 luenssnd &roma atp Aq algEXed atuooaq legs
slunoure iCue 'sapap sasnpaoosd alp ui paranoid asinuaglo se ldaoxa pug of loafgns t�L
693
I I saldego aiagl ui a)ie1 J(rtu s1olgaQ atp 1r1p suopoe Aug so 'lsasalui ions 02 polypi so uo passq
Sale Agreement and the Assigned Contracts, and all holders of such claims are forever barred and
estopped from asserting such claims against the Debtors, their successors or assigns, their property
or the Properties.
80. Within five (5) business days after entry of an Order approving the Sale Motion,
Debtors shall serve such Order upon all parties to Assigned Contracts and/or unexpired leases (the
"Contract Parties along with a schedule of estimated cure costs (listed individually by contract
and/or lease) which shall state if such estimated cure costs are disputed, unliquidated, or contingent.
81. The Contract Parties shall have thirty (30) days from the date of service (the
"Objection Deadline to object to the estimated cure costs provided by Debtors, or to object to
estimated cure costs which are listed as disputed, unliquidated, or contingent. Objections must be
filed with the Court and served on the same parties as objections to the Sale Motion.
82. All Contract Parties who fail to timely object to the estimated cure costs provided by
Debtors shall be bound by such estimates.
83. All estimated cure costs which are disputed, unliquidated, or contingent shall be
disallowed, unless the affected Contract Parties timely object.
84. Debtors shall pay undisputed cure costs to the applicable Contract Parties on the latter
of (i) ten (10) business days after the Objection Deadline, or (ii) ten (10) business days after the
closing of the sale of substantially all of Debtors' assets. All cure costs which are in dispute, by
virtue of a timely filed objection, will be set for hearing by the Court, providing adequate time for
discovery. Such disputed cure costs will be paid upon Court order, or by agreement of the parties.
85. Claims and liens for delinquent property taxes, penalties and interest attach to the
proceeds of the sale and the ad valorem tax liens for the 2000 tax year are hereby expressly retained
against the Properties until the payment by the Buyer of-the year 2000 ad valorem taxes, and any
19
OS (;8
penalties or interest which could ultimately accrue to those year 2000 taxes, in the ordinary denary course
of business.
86 As provided by Fed. R. Banks. P. 6004(g) and Fed. R. Bankr. P. 6006(, this shall not be stayed for 10 days after the entry of the Sale Order and shall be tus Sale
e effective and
enforceable immediately upon entry.
87. The provisions of this Sale Order are nonseverable and mutually dependent.
88. Upon closing, Buyer, together with its successors, assigns and heirs, release
discharge the Debtors in these proceedings, their agents, representatives, employ, and
to
advisors from and against any and all claims, rights, demands, and causes of y attorneys and
f action of any kind or
nature whatsoever arising directly or indirectly, or as a result of, or in connection with, the
Agreement or the alleged o
performance of any obligation arising under or related to the Sale A ee r
r
claimed efforts of the Debtors to market and/or sell any of the properties, leases, contracts
which are the subject of the Sale Agreement. or assets
89. Debtors agree that the Wells Pre Petition Indebtedness and the Bank One
Indebtedness shall be subordinated to the payment of all allowed cure cost amounts from the sales
proceeds including (without limitation) the amounts due to Union Pacific Resources Group, Inc. and
Anadarko Petroleum Corp.
Dated: September 2000
UNIT Clihmiha
D STATES BANKR
20
671
CV'
TCY :'GE