<SEC-DOCUMENT>0001193125-14-006627.txt : 20140109
<SEC-HEADER>0001193125-14-006627.hdr.sgml : 20140109
<ACCEPTANCE-DATETIME>20140109160800
ACCESSION NUMBER:		0001193125-14-006627
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140106
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140109
DATE AS OF CHANGE:		20140109

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SANDRIDGE ENERGY INC
		CENTRAL INDEX KEY:			0001349436
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				208084793
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33784
		FILM NUMBER:		14518901

	BUSINESS ADDRESS:	
		STREET 1:		123 ROBERT S. KERR AVENUE
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73102-6406
		BUSINESS PHONE:		405-429-5500

	MAIL ADDRESS:	
		STREET 1:		123 ROBERT S. KERR AVENUE
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73102-6406

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RIATA ENERGY INC
		DATE OF NAME CHANGE:	20060111
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d656816d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): January&nbsp;6, 2014 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SANDRIDGE ENERGY, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>1-33784</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>20-8084793</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>123 Robert S. Kerr Avenue</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Oklahoma City, Oklahoma</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>73102</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s Telephone Number, including Area Code: (405)&nbsp;429-5500 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On January&nbsp;6, 2014, SandRidge Energy,
Inc. (&#147;SEI&#148;), SandRidge Holdings, Inc., a wholly-owned subsidiary of SEI (&#147;SHI,&#148; and collectively with SEI, &#147;SandRidge&#148;), and Fieldwood Energy LLC (&#147;Fieldwood&#148;), entered into an Equity Purchase Agreement (the
&#147;Purchase Agreement&#148;), pursuant to which Fieldwood will acquire all of the equity interests in certain subsidiaries (the &#147;Acquired Companies&#148;) that own all of SandRidge&#146;s oil and gas exploration and production business in
the Gulf of Mexico and certain onshore oil and gas assets. The Purchase Agreement provides that, at the closing and subject to customary adjustments, Fieldwood will pay SandRidge $750 million in cash, $75 million of which has been deposited with
SandRidge. In addition, effective as of the closing, Fieldwood will assign overriding royalty interests in certain oil and gas leases with respect to certain depths to a subsidiary of SandRidge. The transaction has an effective date of
December&nbsp;1, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Consummation of the transaction is subject to customary conditions, including compliance with the applicable
waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended, and the absence of aggregate casualty losses exceeding 20% of the purchase price. SandRidge and Fieldwood have agreed to certain interim operating covenants
between the date of the Purchase Agreement and the closing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Purchase Agreement may be terminated by SandRidge or Fieldwood if closing
has not occurred by March&nbsp;31, 2014. The Purchase Agreement may also be terminated by either party for certain breaches of representations, warranties or covenants by the other party or by mutual written consent. The Purchase Agreement also
provides that (i)&nbsp;SandRidge will be entitled to retain the $75 million deposit and an additional payment of $75 million as liquidated damages if SandRidge has the right to terminate the Purchase Agreement due to Fieldwood&#146;s breach of any
representation, warranty or covenant, (ii)&nbsp;Fieldwood will have the option of enforcing specific performance or receiving back the $75 million deposit as its sole and exclusive remedy if Fieldwood has the right to terminate the Purchase
Agreement due to SandRidge&#146;s breach of any representation, warranty or covenant and (iii)&nbsp;Fieldwood will receive back the $75 million deposit as its sole and exclusive remedy for failure to consummate the transaction by March&nbsp;31,
2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each of SandRidge and Fieldwood has made customary representations and warranties and covenants. The assertions embodied in the
representations and warranties were made solely for purposes of the contract between SandRidge and Fieldwood and are not intended to provide factual, business or financial information about SandRidge. Moreover, some of the representations and
warranties may not be accurate or complete as of any specified date, may be subject to a contractual standard of materiality different from those generally applicable to stockholders or may have been used for purposes of allocating risk between
SandRidge and Fieldwood rather than establishing matters as facts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Purchase Agreement is filed as Exhibit 10.1 and is incorporated
herein by reference. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the Purchase Agreement. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Regulation FD Disclosure </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On January&nbsp;7, 2014, SEI issued a press release announcing
that SandRidge has entered into the Purchase Agreement. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Exhibits </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>2.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Equity Purchase Agreement, dated as of January&nbsp;6, 2014, between SandRidge Energy, Inc., SandRidge Holdings, Inc. and Fieldwood Energy LLC.*</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Press release issued by SandRidge Energy, Inc. dated as of January 7, 2014.</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Certain schedules and exhibits to this agreement have been omitted in accordance with Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule or exhibit will be furnished to the Securities and Exchange
Commission upon request. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: January&nbsp;9, 2014 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>SANDRIDGE ENERGY, INC.</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">(Registrant)</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Eddie M. Leblanc</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"><I>Eddie M. Leblanc</I></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"><I>Executive Vice President and Chief Financial Officer</I></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit Index </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="94%"></TD></TR>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:11.80pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


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<TD HEIGHT="8"></TD>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>2.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Equity Purchase Agreement, dated as of January 6, 2014, between SandRidge Energy, Inc., SandRidge Holdings, Inc. and Fieldwood Energy LLC.*</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release issued by SandRidge Energy, Inc. dated as of January&nbsp;7, 2014.</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Certain schedules and exhibits to this agreement have been omitted in accordance with Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule or exhibit will be furnished to the Securities and Exchange
Commission upon request. </TD></TR></TABLE> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>d656816dex21.htm
<DESCRIPTION>EX-2.1
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<TITLE>EX-2.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 2.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B></B><B><I>Execution Version</I></B><B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY PURCHASE AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DATED AS OF JANUARY 6, 2014 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BETWEEN </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SANDRIDGE
ENERGY, INC., </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SANDRIDGE HOLDINGS, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIELDWOOD ENERGY
LLC </B></P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Page</B></TD>
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<TD VALIGN="top">Article&nbsp;1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DEFINITIONS AND INTERPRETATION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;1.1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certain Defined Terms</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;1.2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interpretation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SALE AND PURCHASE OF PURCHASED EQUITY</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">PURCHASE PRICE AND PAYMENT</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase Price</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Adjusted Purchase Price and Post-Closing Purchase Price Adjustments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;4</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">REPRESENTATIONS AND WARRANTIES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;4.1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Representations and Warranties Relating to Seller</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;4.2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Representations and Warranties Relating to the Acquired Companies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;4.3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Representations and Warranties of Buyer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;5</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ACCESS TO INFORMATION; CONFIDENTIALITY</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Access</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Confidential Information</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;6</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">COVENANTS OF SELLER AND BUYER</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conduct of Business Pending Closing</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Qualifications on Conduct; Operations After Closing</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Employee Matters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.4</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Public Announcements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.5</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Hydrocarbon Interests Information</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.6</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Parties&#146; Efforts and Further Assurances</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.7</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Removal; Change of Name</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.8</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Books and Records</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.9</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Casualty and Condemnation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bonds and Guarantees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.11</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Third Party Approvals</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.12</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax Matters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.13</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Insurance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.14</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Affiliate Transactions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.15</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intercompany Indebtedness</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.16</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Preferential Purchase Rights; Transfer Requirements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.17</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Seismic Transfer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.18</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Master Service Agreements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.19</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Continuation of Existing Indemnification Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Financial Statements; Relevant Cooperation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;7</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CLOSING CONDITIONS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;7.1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Seller&#146;s Closing Conditions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;7.2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Buyer&#146;s Closing Conditions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;8</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CLOSING</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Closing</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Seller&#146;s Closing Obligations</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Buyer&#146;s Closing Obligations</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;9</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SURVIVAL PERIOD</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Survival</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;10</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">LIMITATIONS</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;10.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Disclaimer of Warranties</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;10.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Redhibition Waiver</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;10.3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Damages</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;11</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">INDEMNIFICATION</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnification By Buyer</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnification By Seller</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnification and Defense Procedures</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.4</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Seller&#146;s General Liability Limitation</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.5</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Buyer&#146;s General Liability Limitation</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.6</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exclusive Remedy</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.7</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Buyer Knowledge</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.8</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax Treatment of Indemnification Payments</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;11.9</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Express Negligence</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;12</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">TERMINATION; REMEDIES</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;12.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Termination</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;12.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remedies</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;12.3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Return of Documentation and Confidentiality</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Article&nbsp;13</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">MISCELLANEOUS</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Counterparts</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Governing Law; Jurisdiction; Process</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Entire Agreement</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.4</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expenses</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.5</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.6</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors and Assigns</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.7</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amendments and Waivers</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.8</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Schedules and Exhibits</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.9</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Agreement for the Parties&#146; Benefit Only</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;13.10</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit A</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Definitions</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit B</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Form of Assignment of Purchased Equity</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit C</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Forms of ORRI Conveyances</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit D</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Form of Transition Services Agreement</TD></TR></TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULES </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.3(e)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Wire Instructions</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.1(c)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Seller No Conflicts</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(b)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Acquired Company No Conflicts</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(c)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Absence of Certain Changes</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(e)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Acquired Company Actions</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(f)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Compliance with Laws</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(i)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Material Contracts</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(j)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Compliance with Material Contracts</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(k)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Tax Matters</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(l)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Capitalization</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(n)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Financial Information</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(o)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Preferential Rights and Transfer Requirements</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(p)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Affiliate Transactions</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(r)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Permitted Liens and Encumbrances</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(t)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Suspense Funds</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(u)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Imbalances</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(v)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Production</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(w)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Outstanding Capital Commitments</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(x)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Bonds</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(y)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Insurance Policies</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(cc)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Intellectual Property</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 4.2(dd)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Environmental Matters</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 5.1(c)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Buyer&#146;s Insurance</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 6.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Conduct of Business Pending Closing</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 6.10(b)</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Certain Escrow Accounts</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 6.17</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Seismic Licenses</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 14.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Reserve Report</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


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<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 14.2</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Seller Employees</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 14.3</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Subject Interests</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 14.4</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">&#151;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Seller Legacy Assets and Subject Fields Allocated Values</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY PURCHASE AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This EQUITY PURCHASE AGREEMENT (this &#147;<U>Agreement</U>&#148;), dated as of January&nbsp;6, 2014 is between
S<SMALL>AND</SMALL>R<SMALL>IDGE</SMALL> E<SMALL>NERGY</SMALL>, I<SMALL>NC</SMALL>., a Delaware corporation (&#147;<U>SEI</U>&#148;), S<SMALL>AND</SMALL>R<SMALL>IDGE</SMALL> H<SMALL>OLDINGS</SMALL>, I<SMALL>NC</SMALL>., a Delaware corporation
(&#147;<U>SHI</U>,&#148; referred to collectively with SEI as &#147;<U>Seller</U>&#148;), and F<SMALL>IELDWOOD</SMALL> E<SMALL>NERGY</SMALL> LLC, a Delaware limited liability company (&#147;<U>Buyer</U>&#148;). Seller and Buyer are each referred to
in this Agreement as a &#147;<U>Party</U>&#148; and collectively referred to as the &#147;<U>Parties</U>.&#148; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>RECITALS </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Seller owns and desires to sell to Buyer, and Buyer desires to purchase from Seller, all of the issued and outstanding equity in the
Acquired Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, for and in consideration of the mutual covenants and agreements set forth in this Agreement, the
benefits to be derived by each Party, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Buyer and Seller hereby agree as follows: </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 1 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEFINITIONS AND
INTERPRETATION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.1 <U>Certain Defined Terms</U>. Unless the context otherwise requires, the respective terms defined in this Agreement
(including <U>Exhibit A</U>) shall have the meanings specified herein (and therein). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.2 <U>Interpretation</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) All references in this Agreement to an &#147;Article,&#148; &#147;Section,&#148; &#147;subsection,&#148; &#147;Exhibit&#148; or
&#147;Schedule&#148; shall be to an Article, Section, subsection, Exhibit or Schedule of this Agreement, unless the context requires otherwise. Unless the context otherwise expressly requires, the words &#147;this Agreement,&#148;
&#147;hereof,&#148; &#147;hereunder,&#148; &#147;herein,&#148; &#147;hereby,&#148; or words of similar import shall refer to this Agreement as a whole and not to a particular Article, Section, subsection, clause or other subdivision hereof. Whenever
the context requires, the words used herein shall include the masculine, feminine and neuter gender, and the singular and the plural. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
It is expressly agreed that this Agreement shall not be construed against any Party, and no consideration shall be given or presumption made, on the basis of which Party drafted this Agreement or any particular provision hereof or which Party
supplied the form of this Agreement. Each Party agrees that this Agreement has been purposefully drawn and correctly reflects its understanding of the transaction that this Agreement contemplates. In construing this Agreement: (i)&nbsp;examples
shall not be construed to limit, expressly or by implication, the matter they illustrate; (ii)&nbsp;the word &#147;includes&#148; and its derivatives means &#147;includes, but is not limited to&#148; and all corresponding derivative expressions;
(iii)&nbsp;a defined term has its defined meaning throughout this Agreement and each Exhibit and Schedule (including amendments and supplements thereto) to this Agreement, regardless of whether it appears before or after the place where it is
defined; (iv)&nbsp;each Exhibit and Schedule (including amendments and supplements thereto) to this Agreement is a part of this Agreement, but if there is any conflict or inconsistency between the main body of this Agreement (including <U>Exhibit
A</U>, which shall be considered part of the main body of this Agreement) and any Exhibit or Schedule (including amendments and supplements thereto), the provisions of the main body of this Agreement shall prevail; (v)&nbsp;the term &#147;cost&#148;
includes expense and the term &#147;expense&#148; includes cost; and (vi)&nbsp;the headings and titles herein are for convenience only and shall have no significance in the interpretation hereof. </P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SALE AND PURCHASE OF PURCHASED EQUITY </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the Closing, upon the terms and subject to (a)&nbsp;the satisfaction or due waiver of the conditions in <U>Article 7</U> and (b)&nbsp;the
other provisions set forth in this Agreement, Seller agrees to sell, transfer, assign, convey and deliver to Buyer, and Buyer agrees to purchase, acquire and accept from Seller, all of the Purchased Equity. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 3 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PURCHASE PRICE AND
PAYMENT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.1 <U>Purchase Price</U>. The purchase price for the sale and conveyance of the Purchased Equity to Buyer is $750,000,000 (the
&#147;<U>Purchase Price</U>&#148;), subject to adjustment in accordance with the terms of this Agreement. The &#147;<U>Adjusted Purchase Price</U>&#148; shall be the Purchase Price, as: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) (i) decreased by the amount of cash or cash equivalents of the Acquired Companies distributed from and after the Effective Time until the
Closing to Seller or any of its Affiliates (other than any of the Acquired Companies) and (ii)&nbsp;increased by the amount of any cash or cash equivalents contributed to the Acquired Companies from and after the Effective Time until the Closing by
Seller or any of its Affiliates (other than the any of Acquired Companies); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) (i) increased by the amount of the Effective Time Net
Working Capital, if positive or (ii)&nbsp;decreased by the amount of the Effective Time Net Working Capital, if negative (it being understood that if the Effective Time Net Working Capital is negative, such amount shall be the absolute value
thereof); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) (i) increased by any amounts paid (in compliance with the provisions of <U>Sections 6.1(b)</U> and <U>6.1(c)</U>) by Seller
or any of its Affiliates (other than any of the Acquired Companies) on behalf of the Acquired Companies (other than payments to Seller or any of its Affiliates) from and after the Effective Time and prior to Closing and (ii)&nbsp;decreased by any
amounts or other assets paid or distributed by any of the Acquired Companies on behalf of the Seller or any of its Affiliates (other than any of the Acquired Companies) from and after the Effective Time and prior to and including the Closing Date;
and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) increased by an amount equal to $1,000,000, which the Parties agree reflects a portion of the reasonable estimate of the
alternative minimum Tax costs and Texas franchise Tax costs that may be incurred by Seller in connection with the Section&nbsp;336(e) Election. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In calculating the Adjusted Purchase Price pursuant to this <U>Section&nbsp;3.1</U>, no adjustment may be accounted for in more than one of
the paragraphs (a)&nbsp;through (d)&nbsp;above or in any manner which would result in the duplication of an item of adjustment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.2
<U>Payment</U>. Contemporaneously with the execution of this Agreement (or as soon as practicable on the first Business Day immediately thereafter), Buyer has deposited (or will, as applicable, deposit) with Seller an amount equal to $75,000,000
(such amount, including any interest earned thereon, the &#147;<U>Deposit</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.3 <U>Adjusted Purchase Price and Post-Closing
Purchase Price Adjustments</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Not later than five (5)&nbsp;Business Days prior to the Closing Date, Seller shall prepare and
deliver to Buyer a settlement statement (the &#147;<U>Preliminary Settlement Statement</U>&#148;) that contains a reasonably detailed and good faith estimate of the Adjusted Purchase Price giving effect to Seller&#146;s good faith estimate of the
adjustments provided for in <U>Section&nbsp;3.1</U> (or, if then determinable, the final amounts </P>
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thereof). If Buyer disputes any amounts or adjustments set forth in the Preliminary Settlement Statement, Buyer and Seller shall negotiate in good faith to resolve any such dispute by the Closing
Date. If the Parties cannot resolve the dispute, then the amount of the estimated Adjusted Purchase Price set forth in the Preliminary Settlement Statement delivered by Seller in accordance with this <U>Section&nbsp;3.3(a)</U>, <I>less</I> the
Deposit and such other adjustments to which the Parties have agreed, shall constitute the dollar amount to be paid by Buyer to Seller at the Closing (the &#147;<U>Closing Payment</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Not later than the ninetieth (90th)&nbsp;day following the Closing Date, Seller shall prepare and deliver to Buyer a statement (the
&#147;<U>Post-Closing Statement</U>&#148;) setting forth the final calculation of the Adjusted Purchase Price taking into account any adjustments pursuant to <U>Section&nbsp;3.1</U>. Seller shall thereafter provide to Buyer such additional data and
information as Buyer may reasonably request to verify the amounts reflected on the Preliminary Settlement Statement and/or the Post-Closing Statement (and reasonable access to Seller&#146;s personnel, including internal accountants, which access
shall not unreasonably disrupt Seller&#146;s day-to-day operations) to permit Buyer to perform or cause to be performed an audit. As soon as reasonably practicable, but not later than the sixtieth (60th)&nbsp;day following receipt of Seller&#146;s
statement hereunder, Buyer shall deliver to Seller a written report (an &#147;<U>Adjustment Notice</U>&#148;) containing any changes Buyer proposes to be made in such statement. Buyer shall be deemed to have accepted and agreed to all items in the
Post-Closing Statement, other than such matters that are proposed to be changed in any Adjustment Notice (it being understood that if Buyer does not deliver an Adjustment Notice within such sixty (60)&nbsp;day period, then Buyer shall be deemed to
have accepted and agreed to all items in the Post-Closing Statement). The Parties shall undertake to agree on the final Adjusted Purchase Price no later than thirty (30)&nbsp;Business Days after delivery of any Adjustment Notice in accordance with
the foregoing. If an Adjustment Notice is delivered in accordance with the foregoing and the final Adjusted Purchase Price is: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)
mutually agreed upon in writing by Seller and Buyer during such thirty (30)&nbsp;Business Day period or if Buyer does not deliver an Adjustment Notice within the sixty (60)&nbsp;day period described above, the final Adjusted Purchase Price shall be
considered conclusive and binding on the Parties; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) not mutually agreed upon by Seller and Buyer during such thirty
(30)&nbsp;Business Day period described above, then the Parties shall mutually select an internationally recognized, independent accounting firm (the &#147;<U>Accountant</U>&#148;) to resolve any disagreements. Should the Parties fail to agree on an
accounting firm within thirty (30)&nbsp;Business Days following the thirty (30)&nbsp;Business Days period set forth in <U>Section&nbsp;3.3(b)</U> above or should such accounting firm fail or refuse to agree to serve as the Accountant within ten
(10)&nbsp;days after written request from the Parties to serve and the Parties fail to agree in writing on a replacement Accountant within five (5)&nbsp;days after the end of that ten (10)&nbsp;day period, or should no replacement Accountant agree
to serve within fifteen (15)&nbsp;days after the original written request pursuant to this sentence, the Accountant shall be appointed by the American Arbitration Association. In connection with the engagement of the Accountant, each of Seller and
Buyer shall execute such engagement, indemnity and other agreements as the Accountant and the American Arbitration Association shall require as a condition to such engagement. The review and resolution of the Parties&#146; disputes by the Accountant
pursuant to this <U>Section&nbsp;3.3(b)(ii)</U> shall take place in Houston, Texas. The Accountant shall determine as promptly as practicable, but in any event within thirty (30)&nbsp;days after the selection of the Accountant, based solely on
(A)&nbsp;written submissions provided by Buyer and Seller within ten (10)&nbsp;days following the Accountant&#146;s selection to the Accountant (and without independent investigation on the part of the Accountant) and (B)&nbsp;the terms and
provisions of this Agreement, whether and to what extent (if any) Seller&#146;s Post-Closing Statement requires adjustment. In resolving any disputed item, the Accountant shall act as an expert and not an arbitrator and shall resolve only the items
set forth in the Adjustment Notice that are still in dispute and may not assign a value to any item greater than the higher value for such item claimed by either Party or less than the lower value for such item claimed by
</P>
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either Party. The Accountant may not award damages or penalties. Each Party shall bear its own legal fees and other costs of presenting its case to the Accountant, and one-half of the costs and
expenses of the Accountant and the American Arbitration Association incurred in resolving such disputed matters. The determination of the Accountant shall be final, conclusive and binding on the Parties. The date on which the final Adjusted Purchase
Price is finally determined in accordance with <U>Section&nbsp;3.3(b)(i)</U> or this <U>Section&nbsp;3.3(b)(ii)</U> is referred to as the &#147;<U>Determination Date</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Any difference in the Closing Payment and the final Adjusted Purchase Price shall be paid by the owing Party to the owed Party within five
(5)&nbsp;Business Days of the Determination Date. Any post-Closing payment pursuant to this <U>Section&nbsp;3.3</U> shall bear interest from the Closing Date to the date of payment at the Agreed Rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Buyer shall reasonably assist Seller in Seller&#146;s preparation of the Post-Closing Statement of the Adjusted Purchase Price under
<U>Section&nbsp;3.3(b)</U>, by furnishing relevant information in Buyer&#146;s possession, reasonable access to personnel and such other assistance as may be reasonably requested by Seller to facilitate such process post-Closing, which access to
personnel shall not unreasonably disrupt Buyer&#146;s day-to-day operations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) All payments (including the Deposit) made or to be made
under this Agreement by one Party to the other Party shall be made by electronic transfer of immediately available funds to the receiving Party&#146;s account set forth in <U>Schedule 3.3(e)</U>, or to such other bank and account as may be specified
by the receiving Party in writing to the paying Party. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 4 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REPRESENTATIONS AND WARRANTIES </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.1
<U>Representations and Warranties Relating to Seller</U>. Each Seller represents and warrants jointly and severally to Buyer as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Organization</U>. Seller is a corporation duly organized and validly existing under the Laws of the State of Delaware. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Authority and Enforceability</U>. Seller has all requisite power and authority to execute and deliver this Agreement and to perform its
obligations hereunder. The execution, delivery and performance by Seller of this Agreement have been duly and validly authorized by all requisite corporate action on the part of Seller. Assuming the due authorization, execution and delivery by
Buyer, this Agreement constitutes the valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, subject to (i)&nbsp;applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws of
general application with respect to creditors, (ii)&nbsp;general principles of equity and (iii)&nbsp;the power of a court to deny enforcement of remedies generally based upon public policy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>No Conflict or Violation</U>. Except as set forth in <U>Schedule 4.1(c)</U>, neither the execution and delivery of this Agreement nor
the consummation of the transactions or the performance of the terms and conditions contemplated hereby by Seller will (i)&nbsp;conflict with, result in a violation or breach of, constitute a default or an event that with or without notice or lapse
of time, or both, would constitute a default under, any provisions of the organizational documents of Seller, (ii)&nbsp;assuming the receipt of all Transfer Requirements, violate, conflict with or contravene any Law applicable to Seller or
(iii)&nbsp;except for Permitted Liens, result in any Lien on the Purchased Equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Consents</U>. Except (i)&nbsp;for Customary
Post-Closing Consents and (ii)&nbsp;for filings under the HSR Act and with the BOEM, no consent, approval, authorization or permit of any Governmental </P>
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Authority is required by or with respect to Seller in connection with the execution and delivery by Seller of this Agreement or for or in connection with the consummation of the transactions and
performance by Seller of the terms and conditions contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Actions</U>. As of the date hereof, there is no Action
pending or, to the Knowledge of Seller, threatened against Seller that is reasonably expected by Seller to have an adverse effect in any material respect on the ability of Seller to perform its obligations under this Agreement or that challenges or
could have the effect of preventing, delaying or making illegal or imposing material limits or conditions on the transactions contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Brokerage Fees and Commissions</U>. Neither Seller nor any Affiliate of Seller has incurred any obligation or entered into any
agreement for any investment banking, brokerage or finder&#146;s fee or commission in respect of the transactions contemplated by this Agreement for which Buyer or (following the Closing) any Acquired Company has (or will have) any liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Ownership of Purchased Equity</U>. Seller holds of record and owns beneficially all of the Purchased Equity, and, as of the Closing,
the Purchased Equity will be free and clear of all Liens other than Permitted Liens. Upon delivery and payment for all of the Purchased Equity as herein provided, Seller will convey good and valid title thereto to Buyer free and clear of all Liens
other than Permitted Liens. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <U>Bankruptcy</U>. There are no bankruptcy, reorganization or receivership proceedings for the benefit of
creditors pending against, being contemplated by, or, to the Knowledge of Seller, threatened against Seller. Seller is not Insolvent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.2
<U>Representations and Warranties Relating to the Acquired Companies</U>. Each Seller represents and warrants jointly and severally to Buyer as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Organization and Qualification of the Acquired Companies; Authority and Enforceability</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Each Acquired Company is a corporation, a limited partnership or a limited liability company, as applicable, and is duly organized and
validly existing under the Laws of its respective state of organization and has the requisite power to carry on its respective business as now conducted. Each Acquired Company is duly qualified to do business in each jurisdiction in which the
Hydrocarbon Interests owned or leased by it makes such qualification necessary, except where the failure to be so qualified would not have an adverse effect (in any material respect) on the operations or business of the Acquired Companies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Each Acquired Company has all requisite power and authority to perform its obligations hereunder. The performance by each Acquired
Company of its obligations hereunder has been duly and validly authorized by all requisite corporate, limited partnership or limited liability company action (as applicable) on the part of each Acquired Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>No Conflict or Violation</U>. Except as set forth in <U>Schedule 4.2(b)</U>, the consummation of the transactions contemplated hereby
will not (i)&nbsp;conflict with, result in a violation or breach of, constitute a default or an event that with or without notice or lapse of time, or both, would constitute a default under, any provisions of the organizational documents of any
Acquired Company, (ii)&nbsp;assuming the receipt of all Transfer Requirements, violate, conflict with or contravene any Law applicable to any Acquired Company in any material respect, or (iii)&nbsp;except for Permitted Liens, result in any Lien on
the Purchased Equity. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Absence of Certain Changes</U>. From the Effective Date to the date hereof, except as set
forth in <U>Schedule&nbsp;4.2(c)</U> or as expressly contemplated by this Agreement, the Acquired Companies (i)&nbsp;have, in all material respects, conducted their business and operated the Subject Interests in the ordinary course of business
consistent with past practice, and (ii)&nbsp;have not been subject to any event, effect, change, fact, development or circumstance that, individually or in the aggregate, has or could reasonably be expected to have a Material Adverse Effect on the
Acquired Companies, taken as a whole. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Consents</U>. Except (i)&nbsp;for Customary Post-Closing Consents and (ii)&nbsp;for filings
under the HSR Act and with the BOEM, no consent, approval, authorization or permit of any Governmental Authority is required by or with respect to the Acquired Companies in connection with the execution and delivery by Seller of this Agreement or
for or in connection with the consummation of the transactions and performance of the terms and conditions contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e)
<U>Actions</U>. Except as set forth in <U>Schedule&nbsp;4.2(e)</U> and except for any matters arising out of any event, action or circumstance occurring on or prior to April&nbsp;17, 2012 with respect to the Offshore Legacy Assets, as of the date
hereof, there is no Action pending or, to the Knowledge of Seller, threatened against any Acquired Company, the Purchased Equity or the Hydrocarbon Interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Compliance with Laws</U>. Except as set forth in <U>Schedule&nbsp;4.2(f)</U> and except for immaterial violations, as of the date
hereof, the Acquired Companies and the operation of the Hydrocarbon Interests are in compliance in all respects with all Laws; <I>provided</I> that Seller makes no representation or warranty in this <U>Section&nbsp;4.2(f)</U>, express or implied,
with respect to (i)&nbsp;any Environmental Law (which is specifically addressed in <U>Section&nbsp;4.2(dd)</U>), (ii)&nbsp;any Tax Law or (iii)&nbsp;the Acquired Companies&#146; title to the Subject Interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Brokerage Fees and Commissions</U>. None of the Acquired Companies has incurred any obligation or entered into any agreement for any
investment banking, brokerage or finder&#146;s fee or commission in respect of the transactions contemplated by this Agreement for which Buyer or (following the Closing) any Acquired Company has (or will have) any liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <U>Bankruptcy</U>. There are no bankruptcy, reorganization or receivership proceedings for the benefit of creditors pending against, being
contemplated by, or, to the Knowledge of Seller, threatened against any of the Acquired Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Material Contracts</U>. Except
for those entered into in accordance with <U>Sections&nbsp;6.1</U> and <U>6.2</U>, <U>Schedule&nbsp;4.2(i)</U> sets forth a list of the following contracts or agreements, whether written or oral (each contract or agreement that is listed on
<U>Schedule&nbsp;4.2(i)</U>, a &#147;<U>Material Contract</U>&#148;): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) that commit an Acquired Company to aggregate expenditures of
more than $3,000,000 during the current or any subsequent calendar year, excluding (A)&nbsp;any Lease creating the applicable Acquired Company&#146;s Hydrocarbon Interests and any contracts or agreements creating interests or rights in any of the
Hydrocarbon Interests, (B)&nbsp;joint operating agreements applicable to any of the Hydrocarbon Interests and (C)&nbsp;unitization or pooling agreements applicable to any of the Hydrocarbon Interests; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) that can reasonably be expected to result in aggregate revenues to any Acquired Company of more than $10,000,000 during the current or
any subsequent calendar year (based solely on the terms thereof and current volumes, without regard to any expected increase in volumes or revenues), excluding any such contract or agreement creating the applicable Acquired Company&#146;s
Hydrocarbon Interests and any contracts or agreements creating any other rights in the Hydrocarbon Interests; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) that commit an Acquired Company to gather, sell, treat, process, store or transport
(A)&nbsp;any Hydrocarbon production attributable to the Hydrocarbon Interests or (B)&nbsp;any Hydrocarbon production that is (1)&nbsp;owned or controlled by a third Person, (2)&nbsp;not produced from a well included in any of the Hydrocarbon
Interests and (3)&nbsp;delivered by such third Person to any Facilities located on (or otherwise used with respect to) any of the Hydrocarbon Interests, excluding (x)&nbsp;any such contract or agreement that expires within ninety (90)&nbsp;days, or
can be terminated by an Acquired Company upon ninety (90)&nbsp;days&#146; or less notice without penalty, (y)&nbsp;any Lease creating rights in any of the Hydrocarbon Interests and (z)&nbsp;any contract or agreement affecting the Hydrocarbon
Interests with less than 400 boepd of Hydrocarbon production; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) that constitute (A)&nbsp;a joint operating agreement, unit operating
agreement, unitization or pooling agreement, participation agreement, farm-in or farm-out agreement, exploration agreement, development agreement or similar agreement with respect to any of the Subject Interests or (B)&nbsp;the Superior Turnkey
Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) that provide for (A)&nbsp;an area of mutual interest with respect to the Subject Interests, (B)&nbsp;any &#147;tag
along&#148; or &#147;drag along&#148; (or other similar) rights that allow a third party, or require any Acquired Company, to participate in any future transactions, in each case, with respect to the Subject Interests or (C)&nbsp;any requirement
(provided in any contract or agreement, the primary subject matter of which is confidentiality, non-disclosure and/or non-use) by any Acquired Company to offer (to a third Person) any property that is acquired (after the Closing Date) by such
Acquired Company, <I>provided</I>, <I>however</I>, in the case of clause (C)&nbsp;with respect to any Acquired Company that owns Offshore Legacy Assets, only to the extent set forth in any contract or agreement entered into on or after
April&nbsp;17, 2012; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) that constitute a lease for real property (but not, for the avoidance of doubt, a Lease creating any
Hydrocarbon Interests) or office space where any Acquired Company is the lessor or lessee thereunder, which lease (A)&nbsp;cannot be terminated by Seller without penalty upon sixty (60)&nbsp;days&#146; or less notice and (B)&nbsp;involves an annual
base rental of more than $1,000,000; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii) that in any way purport to restrict the right or freedom of any Acquired Company (with respect
to the Subject Interests) to (A)&nbsp;engage in any business activity or (B)&nbsp;engage in any line of business or compete with any Person, <I>provided</I>, <I>however</I>, in each case of clauses (A)&nbsp;and (B), with respect to any Acquired
Company that owns Offshore Legacy Assets, only to the extent set forth in any contract or agreement entered into on or after April&nbsp;17, 2012; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(viii) that relate to Indebtedness of any Acquired Company (other than any Indebtedness that is owed by one Acquired Company to one or more of
the other Acquired Companies and other Indebtedness that will be discharged on or prior to the Closing). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <U>Compliance with
Contracts</U>. Except as set forth in <U>Schedule 4.2(j)</U>, no Acquired Company and, to the Knowledge of Seller, no other Person that is a party to any Material Contract, is in material breach of or material default under such Material Contract,
and there does not exist under any provision thereof any event, including the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby, that, with or without notice or the lapse of time, or both, could
constitute such a breach or default by any Acquired Company, except for such breaches, defaults and events as to which requisite waivers or consents have been obtained. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <U>Tax Matters</U>. Except as set forth in <U>Schedule 4.2(k)</U>: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) All material Tax Returns required to be filed by or with respect to the Acquired Companies have been duly and timely filed in the manner
prescribed by Law and all such Tax Returns are </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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true, correct and complete in all material respects. All material Taxes owed by the Acquired Companies that are or have become due have been paid in full. Each Acquired Company has withheld and
paid over all Taxes required to have been withheld and paid over, and complied in all material respects with all information reporting and backup withholding requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) No unresolved assessments, reassessments, audits, claims, actions, suits, proceedings or investigations exist or have been initiated, or
threatened in writing, with regard to any Taxes or Tax Returns of any Acquired Company. No claim is pending and no claim has been made that has not been resolved by an authority in a jurisdiction where an Acquired Company does not file Tax Returns
that such Acquired Company is or may be subject to Tax in that jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) There is not in force any waiver or agreement for any
extension of time for the assessment or payment of any Tax of or with respect to any Acquired Company. No Acquired Company has requested any extension of time within which to file any material Tax Return which Tax Return has not yet been filed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) There are no Liens for Taxes on the assets of the Acquired Companies, other than for Taxes (i)&nbsp;not yet due and payable or
(ii)&nbsp;that are being contested in good faith and set forth on Schedule&nbsp;4.2(k). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) No Acquired Company is a party to any Tax
sharing agreement, Tax indemnity obligation or similar agreement, arrangement or practice with respect to Taxes (other than an agreement or arrangement that is not principally Tax motivated, such as a purchase and sale contract that includes a tax
indemnity), including any advance pricing agreement, closing agreement or other agreement relating to Taxes with any taxing authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) Each of SandRidge Onshore, SandRidge Offshore, SandRidge Energy Offshore, DBH, LLC, Bandon Oil and Gas GP, LLC, Bandon Oil and Gas, LP,
Dynamic Offshore Resources NS, LLC and SPN Resources, LLC is properly classified as a disregarded entity of SHI for federal income Tax purposes and any applicable state or local income Tax purposes. Each of Galveston Bay Pipeline Company, Galveston
Bay Processing Corporation, Dynamic Offshore Resources NS Acquisition, Inc. and Dynamic Offshore Resources NS Parent, Inc. is properly classified as a corporation for federal income Tax purposes and any applicable state or local income Tax purposes.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii) None of the Hydrocarbon Interests are subject to any tax partnership agreement or any other agreement or arrangement treated as a
partnership (as defined in Section&nbsp;761 of the Code) for federal income Tax purposes, except for any such partnership that currently has in effect an election under Section&nbsp;754 of the Code and which is set forth on
<U>Schedule&nbsp;4.2(k)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <U>Capitalization</U>. The issued and outstanding equity of the Acquired Companies is as set out on
<U>Schedule&nbsp;4.2(l)</U>. All of the outstanding equity of the Acquired Companies has been duly authorized, validly issued and are fully paid and non-assessable, and was not issued in violation of any preemptive rights, rights of first refusal or
other similar rights of any Person. No options, warrants, subscriptions, calls, exchange rights or other rights to purchase equity of any Acquired Company, and no equity or obligations, in each case, that are convertible into or exchangeable for
equity of any Acquired Company, have been authorized or agreed to be issued or are outstanding. No Acquired Company has outstanding or authorized any stock appreciation, phantom stock, profit participation or similar rights. There are no voting
trusts, stockholder agreements, proxies or other agreements or understandings in effect with respect to the voting or transfer of any of the Purchased Equity. As of the date hereof, none of the Acquired Companies owns any equity interest in any
Person (other than any other Acquired Companies). All outstanding equity interests of the Acquired Companies are owned by Seller or one or more of the Acquired Companies and, upon the consummation of the transactions contemplated herein, will be
owned by Buyer or an Acquired Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <U>Employment and Employee Benefit Matters</U>. No Acquired Company is a party to, nor is any
Seller Employee covered by, a collective bargaining agreement with any labor union. There are no Company Benefit Plans, and no Acquired Company has, or could reasonably be expected to have, any obligation or Covered Liability under any of
Seller&#146;s or its Affiliates&#146; Employee Benefit Plans now or any time in the future. No Acquired Company has any employees or independent contractors that could be classified as employees, or has any Covered Liability as an employer with
regard to the employment of any employee or such independent contractor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <U>Financial Information</U>. <U>Schedule 4.2(n)</U> sets
forth the following financial information with respect to the Acquired Companies (collectively, the &#147;<U>Financial Information</U>&#148;): (i)&nbsp;an unaudited statement of the Assets and the Liabilities of the Acquired Companies, in each case,
as of September&nbsp;30, 2013 and as of December&nbsp;31, 2012, and (ii)&nbsp;an unaudited statement of revenues and direct operating expenses of the Acquired Companies for the twelve (12)&nbsp;months ended on September&nbsp;30, 2013 and
December&nbsp;31, 2012. The Financial Information fairly represents the financial condition of the Acquired Companies in all material respects for the time periods set forth in the Financial Statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <U>Preferential Rights and Transfer Requirements</U>. Except as disclosed in <U>Schedule&nbsp;4.2(o)</U>, there are no Preferential Rights
or Transfer Requirements, in each case, with respect to the Subject Interests or any Facility located on, or otherwise used with respect to, any of the Subject Interests, that are triggered by or otherwise applicable to the sale by Seller, and the
acquisition by Buyer, of the Purchased Equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <U>Affiliate Transactions</U>. Except as set forth in <U>Schedule 4.2(p)</U>, there
are no contracts, agreements or commitments relating to transactions between any Acquired Company, on the one hand, and Seller (or any of its Affiliates, other than the Acquired Companies), on the other hand (an &#147;<U>Affiliate
Transaction</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <U>Indebtedness</U>. As of the Closing, there will be no Indebtedness with respect to the Acquired Companies
owing to any Person other than Indebtedness owing by one Acquired Company to one or more of the other Acquired Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <U>Title;
Equipment</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) As of the date hereof, with respect to the Subject Interests (other than any Subject Interests that constitute
Offshore Legacy Assets), the Acquired Companies collectively have title thereto that (A)&nbsp;is free from reasonable doubt to the end that a prudent Person engaged in the business of purchasing and owning, developing and operating producing oil and
gas properties in the geographical areas in which the Hydrocarbon Interests are located, with knowledge of all of the facts and their legal bearing, would be willing to accept the same acting reasonably and (B)&nbsp;is free and clear of all
Encumbrances, subject to (in each of the cases of clauses (A)&nbsp;and (B), (1)&nbsp;Encumbrances and Liens associated with obligations taken into account in the preparation of the Reserve Report, (2)&nbsp;Encumbrances and Liens for Taxes not yet
due and payable or that are being contested in good faith, (3)&nbsp;such immaterial imperfections of title, easements, liens, Encumbrances, government and tribal approvals, Customary Post-Closing Consents, and (4)&nbsp;Encumbrances and Liens
identified on <U>Schedule 4.2(r)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Subject to Permitted Encumbrances, with respect to the Offshore Legacy Assets, Seller warrants
and defends all and singular title to the Offshore Legacy Assets unto Buyer against every Person whosoever lawfully claiming or to claim the same by, through or under any Acquired Company </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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(but excluding any transactions, conveyance, grant of any Lien or Encumbrance or the taking of any other action, in each case, prior to or on April&nbsp;17, 2012) but not otherwise. Additionally,
subject to Permitted Encumbrances, with respect to the Subject Interests that do not constitute Offshore Legacy Assets, Seller warrants and defends all and singular title to such Subject Interest unto Buyer against every Person whosoever lawfully
claiming or to claim the same by, through or under any Acquired Company but not otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) As of the date hereof, with respect to
the Subject Wells, Subject Units and Subject Leases, the Acquired Companies collectively have title thereto that, with respect to each Subject Well, Subject Unit or Subject Lease, as applicable, subject to (and excluding any effect of) Permitted
Encumbrances: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A) (1) with respect to each Subject Well, entitles the Acquired Companies (individually or in the aggregate) to receive
not less than the percentage set forth in <U>Schedule&nbsp;14.4</U> for such Subject Well, as the Net Revenue Interest of all Hydrocarbons produced, saved and marketed from such Subject Well and (2)&nbsp;with respect to each Subject Unit or Subject
Lease, entitles the Acquired Companies (individually or in the aggregate) to receive a percentage of all Hydrocarbons produced, saved and marketed from such Subject Unit or Subject Lease (as applicable) that is not less than the highest Net Revenue
Interest set forth in <U>Schedule&nbsp;14.4</U> for any of the Subject Wells included in such Subject Unit or located on such Subject Lease, respectively; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B) (1) with respect to each Subject Well, obligates the Acquired Companies (individually or in the aggregate) to bear a percentage of the
costs and expenses relating to the maintenance, development and operation of such Subject Well that is not greater than the Working Interest set forth in <U>Schedule&nbsp;14.4</U> for such Subject Well and (2)&nbsp;with respect to each Subject Unit
or Subject Lease, obligates the Acquired Companies (individually or in the aggregate) to bear a percentage of the costs and expenses relating to the maintenance, development and operation of such Subject Unit or Subject Lease (as applicable) that is
not greater than the lowest percentage set forth in <U>Schedule&nbsp;14.4</U> for any Subject Well included in such Subject Unit or located on such Subject Lease, respectively, except, in each of the cases of clauses (1)&nbsp;and (2), for increases
that are accompanied by an increase in the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in the applicable Subject Well that causes the Acquired Companies&#146; aggregate Net Revenue Interest in such Subject Well
to be greater than the Net Revenue Interest set forth in <U>Schedule&nbsp;14.4</U> for such Subject Well in the same (or greater) proportion as any such increase in such Working Interest; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(C) is free and clear of all Liens and Encumbrances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) <U>Schedule&nbsp;14.4</U> lists all of the wells (other than any wells included in the Offshore Legacy Assets or the Subject Interests)
that are associated with a positive &#147;PV-10&#148; value in the Reserve Report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) As of the date hereof, with respect to the Subject
Facilities, the Acquired Companies collectively have title thereto that, subject to (and excluding the effect of) Permitted Encumbrances, entitles the Acquired Companies (in the aggregate) to an interest therein equal to (A)&nbsp;in the case of the
Facility located on East Breaks 160, 66.6667%, (B)&nbsp;in the case of the Facility located on High Island A474, 12% and (C)&nbsp;in the case of the Facilities located on South Timbalier, 5.79545% with respect to Facility 185A and 7.69734%, with
respect to Facility 185B. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) As of the Effective Time, all material items of operating equipment owned or leased by the Acquired
Companies with respect to the Subject Interests are, in the aggregate, in a state of repair and sufficient so as to be adequate in all material respects for reasonably prudent operations in the areas in which they are operated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <U>Reserved</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <U>Suspense Funds</U>. Except as set forth on <U>Schedule&nbsp;4.2(t)</U>, as of the Effective Time, (i)&nbsp;no proceeds from production
attributable to the Subject Interests that have been operated by any Acquired Companies are being held in suspense, and (ii)&nbsp;to the Knowledge of Seller, no proceeds from production attributable to the Subject Interests that have been operated
by third-party operators are being held in suspense. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <U>Imbalances</U>. <U>Schedule 4.2(u)</U> sets forth (i)&nbsp;all material
Imbalances associated with the Hydrocarbon Interests that have been operated by any Acquired Companies, and (ii)&nbsp;to the Knowledge of Seller, all material Imbalances associated with the Hydrocarbon Interests that have been operated by
third-party operators, in each case, as of the Effective Time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>Production</U>. Except as set forth on <U>Schedule 4.2(v)</U> and
except as may be set forth in any contract or agreement affecting the Hydrocarbon Interests with less than 400 boepd of Hydrocarbon production, no Acquired Company (i)&nbsp;is obligated by virtue of a take-or-pay payment, advance payment, production
payment or other similar payment (other than royalties or overriding royalties established by the terms of the leases and other than gas balancing arrangements), to deliver Hydrocarbons, or proceeds from the sale thereof, attributable to any
Acquired Company&#146;s interest in the Hydrocarbon Interests at some future time without receiving payment therefor at or after the time of delivery or (ii)&nbsp;is subject to any call upon, option to purchase or other similar right with respect to
the Hydrocarbons produced from the Hydrocarbon Interests. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <U>Outstanding Capital Commitments</U>. <U>Schedule 4.2(w)</U> sets forth,
as of the date hereof, all approved authorizations for expenditures with respect to the Hydrocarbon Interests, wells, and/or Facilities (the &#147;<U>AFEs</U>&#148;) that would require any Acquired Company to make or incur any capital expenditures
in excess of $500,000, net to such Acquired Company&#146;s interest. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <U>Bonds</U>. The letters of credit and bonds and other forms of
financial assurance set forth on <U>Schedule&nbsp;4.2(x)</U> are all of the bonds and letters of credit and other forms of financial assurance posted or provided by the Acquired Companies, Seller or any other Affiliate of any Acquired Company with
or to any Governmental Authority or third Person with respect to the Subject Interests. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <U>Insurance</U>. <U>Schedule 4.2(y)</U>
lists and briefly describes all insurance coverages provided with respect to the Hydrocarbon Interests (the &#147;<U>Insurance Policies</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(z) <U>Natural Gas Act and Natural Gas Policy Act</U>. None of the pipelines have been or are certificated by the FERC under Section&nbsp;7(c)
of the NGA or, to the Knowledge of Seller, are now subject to FERC jurisdiction under Section&nbsp;7(c) of the NGA. To the Knowledge of Seller, none of the pipelines have been or are providing service pursuant to Section&nbsp;311 of the NGPA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(aa) <U>Reserve Report</U>. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect
and excluding title information, the factual, non-interpretative data on which the Reserve Report was based was accurate as of the date of the Reserve Report. The estimates of proved oil and gas reserves used by Seller and the Acquired Companies in
connection with the preparation of the Reserve Report are in accordance with the definitions and standards contained in Rule 4-10(a) of Regulation S-X as promulgated by the Securities and Exchange Commission. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(bb) <U>Reserved</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(cc) <U>Intellectual Property</U>. Except as set forth in <U>Schedule 4.2(cc)</U>: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) None of the Acquired Companies is in material breach of any agreement to which it is a party that is material to the conduct of the
businesses of the Acquired Companies as currently conducted concerning any license or use of intellectual property rights protected under Law regarding patents, trademarks or copyrights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Other than (A)&nbsp;as of the date hereof, any Seismic Licenses to which any Acquired Company is a party or otherwise bound and
(B)&nbsp;as of the Closing Date, for any Seismic Licenses that constitute Retained Licenses, the consummation of the transactions contemplated hereby will not result in the termination of or a requirement by any of the Acquired Companies to pay any
additional license or similar fees with respect to any licenses, agreements, or contracts concerning any materials, processes, equipment or other intellectual property rights protected under Law regarding patents, trademarks or copyrights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(dd) <U>Environmental Matters</U>. Except as set forth in <U>Schedule&nbsp;4.2(dd)</U>, and except for matters with respect to the Offshore
Legacy Assets that occurred prior to April&nbsp;17, 2012: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) The Acquired Companies and their properties and operations are, and, during
the five (5)&nbsp;years preceding the date of this Agreement, have been, in material compliance with Environmental Laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) The
Acquired Companies possess, and are in compliance with, all material permits, licenses, registrations or other authorizations required under Environmental Laws for their operations as presently conducted and there is no pending, or to the Knowledge
of Seller, threatened Action to revoke, rescind, cancel or terminate any such authorizations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) The Acquired Companies and their
properties and operations are not subject to any pending or, to the Knowledge of Seller, threatened Action pursuant to Environmental Laws, nor have they received any notice of violation, noncompliance, or enforcement or any notice of investigation
or remediation from any Governmental Authority pursuant to Environmental Laws, nor to the Knowledge of Seller, is any such notice threatened. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) There has been no Release of a Hazardous Substance on or from the Hydrocarbon Interests or from or in connection with the operations of
the Acquired Companies in a manner that has given rise to, or could reasonably be expected to give rise to, any material remedial or corrective action obligations pursuant to Environmental Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.3 <U>Representations and Warranties of Buyer</U>. Buyer represents and warrants to Seller as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Organization and Qualification</U>. Buyer is a limited liability company duly formed and validly existing under the Laws of the State
of Delaware and has the requisite power and authority to carry on its business as now conducted. Buyer is duly qualified to do business in each jurisdiction in which the ownership or operation of its assets makes such qualification necessary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Authority</U>. Buyer has all requisite power and authority to execute and deliver this Agreement and to perform its obligations
hereunder. The execution, delivery and performance by Buyer of this Agreement and the transactions contemplated hereby have been duly and validly authorized by all requisite limited liability company action on the part of Buyer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Enforceability</U>. Assuming the due authorization, execution and delivery by Seller, this
Agreement constitutes the valid and binding obligations of Buyer, enforceable against Buyer in accordance with its terms, subject to (i)&nbsp;applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws of general application
with respect to creditors, (ii)&nbsp;general principles of equity and (iii)&nbsp;the power of a court to deny enforcement of remedies generally based upon public policy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>No Conflict or Violation</U>. Neither the execution and delivery of this Agreement nor the consummation of the transactions and
performance of the terms and conditions contemplated hereby by Buyer will (i)&nbsp;conflict with, result in a violation or breach of, constitute a default or an event that with or without notice or laps of time, or both, would constitute a default
under, any provisions of the organizational documents of Buyer, (ii)&nbsp;conflict with, result in a violation or breach of, constitute a default or an event that, with or without notice or lapse of time or both, would constitute a default under,
result in the acceleration of, create any Liens under, or create in any Person the right to accelerate, terminate, modify or cancel any, agreement, indenture or other instrument to which Buyer is a party or by which Buyer or any of its assets is
bound or (iii)&nbsp;violate or conflict with any Law applicable to Buyer, other than, in the case of the matters described in clauses (ii)&nbsp;and (iii)&nbsp;of this <U>Section&nbsp;4.3(d)</U>, such conflicts, breaches, violations or defaults as
will not have an adverse effect in any material respect on the ability of Buyer to perform its obligations under this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e)
<U>Consents</U>. Except for consents or approvals of or filings with the BOEM and under the HSR Act, no consent, approval, authorization or permit of any Person is required by or with respect to Buyer in connection with the execution and delivery of
this Agreement or for or in connection with the consummation of the transactions and performance of the terms and conditions contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Actions</U>. As of the date hereof, there is no Action pending or, to the Knowledge of Buyer, threatened in writing against Buyer that
are reasonably expected by Buyer to have an adverse effect in any material respect on the ability of Buyer to perform its obligations under this Agreement or that challenges or could have the effect of preventing, materially delaying or making
illegal or imposing material limits or conditions on the transactions contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Brokerage Fees and Commissions</U>.
Neither Buyer nor any Affiliate of Buyer has incurred any obligation or entered into any agreement for any investment banking, brokerage or finder&#146;s fee or commission in respect of the transactions contemplated by this Agreement for which
Seller has (or will have) any liability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <U>Funds</U>. Buyer has, and Buyer shall have as of the Closing Date, sufficient financing
or cash in immediately available funds with which to pay the Purchase Price and to consummate the transactions contemplated by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Independent Evaluation and Accredited Investor</U>. Buyer is an experienced and knowledgeable investor in the oil and gas business,
Buyer is able to bear the economic risks of its acquisition and ownership of the Purchased Equity and ownership of the Hydrocarbon Interests and other assets of the Acquired Companies, and Buyer is capable of evaluating (and has evaluated) the
merits and risks of the Purchased Equity and the Hydrocarbon Interests and other assets of the Acquired Companies and Buyer&#146;s acquisition and ownership thereof. In making its decision to enter into this Agreement and to consummate the
transactions contemplated hereby, Buyer (i)&nbsp;has relied or shall rely solely on its own independent investigation and evaluation of the Subject Interests and the advice of its own legal, Tax, economic, environmental, engineering, geological and
geophysical advisors and the express provisions of </P>
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this Agreement and not on any comments, statements, projections or other materials made or given by any representatives or consultants or advisors of Seller, and (ii)&nbsp;has satisfied itself
through its own due diligence and the express provisions of this Agreement as to the environmental and physical condition of and contractual arrangements and other matters affecting the Hydrocarbon Interests and other assets of the Acquired
Companies. Buyer has sufficient knowledge and experience in financial and business matters so as to be able to evaluate the merits and risk of an investment in the Purchased Equity and is able financially to bear the risks thereof, and understands
that the Purchased Equity will, upon purchase, be characterized as &#147;restricted securities&#148; under state and federal securities Laws and that under such Laws and applicable regulations the Purchased Equity may be resold without registration
under such Laws only in certain limited circumstances. Buyer is an &#147;accredited investor,&#148; as such term is defined in Regulation D of the Securities Act, and will acquire the Purchased Equity for its own account and not with a view to a
sale or distribution thereof in violation of the Securities Act, and the rules and regulations thereunder, any state blue sky Laws or any other securities Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <U>Bankruptcy</U>. There are no bankruptcy, reorganization or receivership proceedings pending against, being contemplated by, or to the
Knowledge of Buyer, threatened against Buyer or any Affiliate of Buyer. Buyer is not Insolvent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <U>Regulatory</U>. Assuming the
receipt of all Transfer Requirements, obtaining the Customary Post-Closing Consents, and the expiration or early termination of any filing under the HSR Act, (i)&nbsp;Buyer is and hereafter shall continue to be qualified under Law to own and assume
operatorship of the Hydrocarbon Interests in all jurisdictions where the Hydrocarbon Interests are located, and (ii)&nbsp;the consummation of the transactions contemplated by this Agreement will not cause Buyer to be disqualified as such an owner or
operator. To the Knowledge of Buyer, there is no fact or condition with respect to Buyer that may cause BOEM to withhold its unconditional approval to the transactions contemplated hereby to the extent BOEM approval is required by Law. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 5 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ACCESS TO INFORMATION;
CONFIDENTIALITY </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.1 <U>General Access</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Following the execution of this Agreement and until the Closing Date (or earlier termination of this Agreement), but subject to Law on
confidentiality and data protection and the other provisions of this <U>Section&nbsp;5.1</U>, Seller shall: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) permit Buyer and its
Representatives to have reasonable access, at reasonable times in the Acquired Companies&#146; and Seller&#146;s offices, and in a manner so as not to interfere unduly with the business operations of the Acquired Companies or Seller, to the Acquired
Companies&#146; books and records, including organizational documents, minute books, corporate, tax, legal, financial and other books and records of each Acquired Company, all documents pertaining to compliance of the Acquired Companies and the
Hydrocarbon Interests with Environmental Laws and with respect to any environmental liabilities, and all contracts, abstracts of title, title opinions, title files, ownership maps, lease files, assignments, division orders, and documents insofar as
the same are in any Acquired Company&#146;s or Seller&#146;s possession and insofar as any Acquired Company or Seller may do so without, in its good faith opinion, breaching or risking a breach of agreements with other Persons or waiving or risking
waiving legal privilege of any Acquired Company or Seller (other than any legal privilege with respect to any title opinions or similar title files or environmental files of any Acquired Company); <I>provided, however</I>, that Seller shall, and
shall cause the Acquired Companies to, at Buyer&#146;s request and at no cost or expense to the Acquired Companies or Seller, request waivers of such confidentiality restrictions; and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) subject to any required consent of any third Person, permit Buyer and its Representatives at
reasonable times and at Buyer&#146;s sole risk, cost and expense, to conduct, in the presence of the Acquired Companies&#146; or Seller&#146;s Representatives, reasonable inspections of the Hydrocarbon Interests; <I>provided</I> that Buyer shall
provide forty-eight (48)&nbsp;hours&#146; notice prior to accessing any of the Hydrocarbon Interests and shall have no right to drill any wells, take any samples, make any borings or conduct any other invasive testing in connection with Buyer&#146;s
inspection absent express written authorization from Seller, to be provided or withheld in Seller&#146;s sole and absolute discretion; <I>provided, however</I>, that Buyer shall comply with all applicable policies, rules and regulations of the
Acquired Companies, including safety policies, with respect to such access, and repair any damage resulting from such inspections, and Buyer does hereby indemnify and hold harmless, release and agree to defend Seller Indemnified Persons from and
against any and all Covered Liabilities arising or resulting, in whole or in part, from Buyer&#146;s inspections, <B>REGARDLESS OF ANY CONCURRENT NEGLIGENCE OR STRICT LIABILITY ON THE PART OF SELLER INDEMNIFIED PERSONS AND REGARDLESS OF THE FORM OF
CLAIM WHETHER AT COMMON LAW, STRICT LIABILITY, NEGLIGENCE OR UNDER ANY STATUTE OR REGULATION (BUT EXPRESSLY EXCLUDING GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, FOR WHICH SELLER DOES HEREBY INDEMNIFY AND HOLD HARMLESS, RELEASE AND AGREE TO DEFEND BUYER
INDEMNIFIED PERSONS FROM SUCH COVERED LIABILITIES TO THE EXTENT OF SUCH GROSS NEGLIGENCE OR WILLFUL MISCONDUCT)</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Upon completion
of Buyer&#146;s due diligence, Buyer shall at its sole cost and expense and without any cost or expense to Seller or its Affiliates (i)&nbsp;repair all damage done to the Hydrocarbon Interests and other assets of the Acquired Companies caused by
Buyer or its Representatives in connection with Buyer&#146;s due diligence, (ii)&nbsp;disregarding normal wear and tear and normal production, restore the Hydrocarbon Interests and other assets of the Acquired Companies to the approximate same
condition as, or better condition than, they were prior to commencement of Buyer&#146;s due diligence, and (iii)&nbsp;remove all equipment, tools and other property brought onto the Hydrocarbon Interests and other assets of the Acquired Companies by
Buyer or its Representatives in connection with Buyer&#146;s due diligence. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) During all periods that Buyer and/or any of Buyer&#146;s
Representatives are on the Hydrocarbon Interests (or any other assets of the Acquired Companies), Buyer shall maintain, at its sole expense, policies of insurance of the types and in the amounts set forth on <U>Schedule&nbsp;5.1(c)</U>. Coverage
under all insurance required to be carried by Buyer hereunder will (i)&nbsp;be primary insurance, (ii)&nbsp;list Seller Indemnified Persons as additional insureds, and (iii)&nbsp;waive subrogation against Seller Indemnified Persons. Upon request by
Seller, Buyer shall provide evidence of such insurance to Seller prior to entering the Hydrocarbon Interests or any other assets of the Acquired Companies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Nothing in this Agreement shall be construed to permit Buyer or its Representatives to have access to any files, records, contracts or
documents of any Acquired Company or Seller relating to negotiating the purchase and sale of the Purchased Equity, including any bids or offers received by Seller or the Acquired Companies for the sale of the Purchased Equity, the Hydrocarbon
Interests or any other assets of the Acquired Companies in competition with Buyer&#146;s bid or offer, it being agreed that all such competing bids or offers shall be the sole property of Seller. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.2 <U>Confidential Information</U>. Buyer agrees to maintain all information made available to it pursuant to this Agreement confidential and to
cause its Affiliates and Representatives to maintain all information made available to them pursuant to this Agreement confidential, all as provided in that certain confidentiality agreement dated November&nbsp;5, 2013, as may be amended from time
to time (the &#147;<U>Confidentiality Agreement</U>&#148;), by and between Seller and Buyer, which shall continue in full force and </P>
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effect and the terms of which are incorporated herein by reference and made a part of this Agreement. Notwithstanding anything herein or in the Confidentiality Agreement to the contrary, on the
Closing Date, the Confidentiality Agreement shall be terminated and of no further force or effect and Buyer shall have no further obligation with respect to confidentiality pursuant to this <U>Section&nbsp;5.2</U> (except as to information related
to Seller or its Affiliates (other than the Acquired Companies) or to assets other than the Hydrocarbon Interests). Additionally, for the two (2)&nbsp;year period immediately following the Closing Date, Seller and its Affiliates shall maintain as
confidential and shall not disclose any confidential information with respect to the Acquired Companies, the Hydrocarbons held by the Acquired Companies, or the Purchased Equity that was made available to Buyer pursuant to this Agreement or the
Confidentiality Agreement except for any such information that (a)&nbsp;becomes generally available to the public other than by disclosure by Seller or its Affiliates in violation of the foregoing covenant, (b)&nbsp;is required by Law or the
regulations of the New York Stock Exchange to be disclosed by Seller (or any of its Affiliates), or (c)&nbsp;is approved for disclosure by consent of Buyer. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 6 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COVENANTS OF SELLER AND
BUYER </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.1 <U>Conduct of Business Pending Closing</U>. Subject to <U>Section&nbsp;6.2</U> and the constraints of applicable Material
Contracts, from the date hereof through the Closing, except (w)&nbsp;as disclosed in <U>Schedule&nbsp;6.1</U>, (x)&nbsp;as contemplated by the AFEs, (y)&nbsp;in connection with the actions contemplated by <U>Sections 6.15</U> or (z)&nbsp;as
otherwise consented to or approved by Buyer, Seller covenants and agrees that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Corporate Actions</U>. Seller shall cause each of
the Acquired Companies not to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) amend its organizational documents; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) liquidate, dissolve, recapitalize or otherwise wind up its business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) merge or consolidate with, or purchase substantially all of the assets or business of, or equity interests in, or make an investment in
any Person (other than extensions of credit to customers in the ordinary course of business); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) issue or sell any equity interests,
notes, bonds or other securities of any Acquired Company, or any option, warrant or right to acquire same; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) declare or pay any
non-cash dividend or make any other non-cash distribution on the Purchased Equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Operation of Hydrocarbon Interests</U>. Seller
shall cause the Acquired Companies to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) cause the Hydrocarbon Interests and the businesses of the Acquired Companies to be maintained
and operated in the ordinary course of business in accordance with each Acquired Company&#146;s past practices and Law, and maintain the Insurance Policies (or upon renewal thereof, in similar amounts and types to the extent then available on
commercially reasonable terms and prices); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) not propose or commit to participate in the drilling of any new well or other new
operations on the Hydrocarbon Interests that, in each case, is reasonably expected to cost the Acquired Companies in excess of $500,000, without the prior written consent of Buyer, which consent or non-consent must be given by Buyer within the
lesser of (A)&nbsp;ten (10)&nbsp;days of Buyer&#146;s receipt of the notice from Seller or (B)&nbsp;one (1)&nbsp;day less than the applicable notice period within which any Acquired Company is contractually obligated to respond to third parties to
avoid a deemed election by such Acquired </P>
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Company regarding such operation, as specified in Seller&#146;s notice to Buyer requesting such consent; <I>provided</I> that failure by Buyer to respond within the aforesaid applicable period
shall constitute Buyer&#146;s consent to such Acquired Company&#146;s participation in such well or other operation; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) maintain and
keep the Hydrocarbon Interests in full force and effect, except where such failure is due to the expiration of any Hydrocarbon Interests caused by (A)&nbsp;the express non-consent of Buyer under <U>Section&nbsp;6.1(b)(ii)</U> or (B)&nbsp;the lack of
production; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) provide weekly production, drilling/completion, recompletion, workover and plugging and abandonment reports, each as
normally prepared by the Acquired Companies prior to the Effective Time; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) use commercially reasonable efforts to cause the H&amp;P
206 rig to remain on location unless otherwise agreed to by Buyer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Changes in Business</U>. Seller shall cause each of the
Acquired Companies not to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) terminate or amend, in any material respect, any Material Contract or enter into any agreement, contract
or arrangement that would have been required (had it been in existence as of the date hereof) to be set forth on <U>Schedule 4.2(i)</U> for that representation and warranty in <U>Section&nbsp;4.2(i)</U> to have been true and correct as of the date
hereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) sell, lease or otherwise dispose of any of the Hydrocarbon Interests, except (A)&nbsp;Hydrocarbons sold or otherwise
disposed of in the ordinary course of business, (B)&nbsp;incident to the exploration, operation or development of the Hydrocarbon Interests in accordance with this <U>Section&nbsp;6.1</U> or <U>Section&nbsp;6.2</U>, (C)&nbsp;personal property or
equipment that is replaced with personal property or equipment of comparable or better value and utility in connection with the maintenance, repair and operation of the Hydrocarbon Interests, (D)&nbsp;any single item of personal property or
equipment having a value of less than $250,000 and (E)&nbsp;sales to the holder of Preferential Rights pursuant to <U>Section&nbsp;6.16</U> who validly exercise the same; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) voluntarily relinquish any Acquired Company&#146;s position as operator with respect to any of the Hydrocarbon Interests; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) enter into any employment arrangement with any one or multiple Persons or incur any obligation with respect to employment compensation
(other than reimbursement obligations to Seller and/or any of its Affiliates (other than the Acquired Companies) with respect to the employment compensation and/or employee benefits costs, of the employees who provide services to the Acquired
Company, incurred in the ordinary course of the business of such companies consistent with past practices, which reimbursement obligations will be discharged at or prior to Closing and which shall not include any amounts for termination, severance
or retention costs) or to fund any Employee Benefit Plan; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) incur any Indebtedness for borrowed money (other than intercompany
Indebtedness that will be settled prior to Closing pursuant to <U>Section&nbsp;6.15</U>) or create or assume any material Lien with respect to any Indebtedness for borrowed money on any material asset of an Acquired Company; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) assume, guarantee, endorse or otherwise as an accommodation become responsible for, the obligations of any other Person, or make any
loans or advances except for the benefit of the Acquired Companies other than, in each case, as may be done in the ordinary course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii) change any Tax election or method of accounting for any material item except as required by
Law, or consent to any extension or waiver of the limitation period applicable to any Tax claim or assessment; provided, however, that this clause (vii)&nbsp;shall not apply to any such change or consent that solely affects a Tax or Tax Return of a
Seller Consolidated Group; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(viii) agree to do any of the items enumerated in <U>Sections 6.1(a)</U> through <U>6.1(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">With respect to any matter or action covered by <U>Section&nbsp;6.1(b)</U>, <U>6.1(c)(i)</U> or <U>6.1(c)(ii)</U> (or
<U>Section&nbsp;6.1(c)(viii)</U> with respect to any of the foregoing), Buyer&#146;s approval shall not be unreasonably withheld, conditioned or delayed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.2 <U>Qualifications on Conduct; Operations After Closing</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Emergencies; Legal Requirements</U>. During the period from the date hereof through the Closing, the Acquired Companies and/or Seller
may take (or not take, as the case may be) any of the actions mentioned in <U>Section&nbsp;6.1</U> if reasonably necessary to avert or reduce imminent danger to the life or health of any Person or Persons, to prevent or mitigate any imminent
material violation of Laws or to prevent or mitigate any imminent loss of or damage to any material properties of any Acquired Company and for which action or actions, time is of the essence. Seller shall notify Buyer promptly after taking any such
action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Non-Operated Hydrocarbon Interests</U>. If any Acquired Company is not the operator of a particular portion of the
Hydrocarbon Interests, the obligations of Seller in <U>Section&nbsp;6.1</U> with respect to such portion of the Hydrocarbon Interests, which have reference to operations or activities that pursuant to existing contracts are carried out or performed
by the operator, shall be construed to require only that such Acquired Company exercises its contractual rights in accordance with the foregoing and that Seller use its commercially reasonable efforts (without being obligated to incur any expense or
institute any cause of action) to cause such Acquired Company to cause the operator of such portion of the Hydrocarbon Interests to take or not take such actions or render such performance or not render such performance as required by
<U>Section&nbsp;6.1</U> within the constraints of the applicable operating agreements and other applicable agreements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.3 <U>Employee
Matters</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Buyer may, in its discretion, on or before the Closing Date, offer employment, conditioned upon the occurrence of the
Closing and effective as of the Closing Date, to any of the Seller Employees who are employed as of the Closing Date by Seller or its Affiliates. Each offer of employment pursuant to the preceding sentence shall comply with the requirements of Law.
Seller shall provide to Buyer, reasonably promptly after request by Buyer therefor, a reasonably detailed list of the Seller Employees identified by Buyer, which list will include title or position, job description, base salary or wage rate, bonus
and other compensation (if any, paid by Seller or one of its Affiliates for the calendar year immediately preceding the calendar year that includes the Closing Date), years of service and any other information reasonably requested by Buyer. Seller
shall take all actions reasonably requested by Buyer to terminate or resolve any liability or obligation of the Acquired Companies under any of Seller&#146;s or its Affiliates&#146; Employee Benefit Plans, if applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) On or before Closing, Seller shall, as necessary, cause all notices required under the WARN Act or any similar state law to be delivered
to employees of Seller in full compliance with the WARN Act or any similar state law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) If the Closing does not occur and this Agreement is terminated by either Party pursuant to
<U>Section&nbsp;12.1(a)</U>, then Buyer hereby agrees that for a period of two (2)&nbsp;years from the date of such termination, it shall not (and shall cause the other Buyer Indemnified Persons to not), without the prior written consent of Seller,
directly or indirectly, solicit for employment or retention as a contractor, hire, retain, offer to hire or retain, or offer to enter into any contract with respect to the employment or retention of, any of the officers or employees of Seller, in
each case, other than (i)&nbsp;through any general solicitation for employees (including through the use of newspapers, trade journals, the internet, employment agencies or search firms) in Buyer&#146;s ordinary course of business consistent with
past practice that is not specifically directed at any such Persons and (ii)&nbsp;the hiring of any Person who contacts Buyer on his or her own initiative. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.4 <U>Public Announcements</U>. Prior to the Closing Date, without the prior written consent of the other Party, which consent shall not be
unreasonably withheld, conditioned or delayed, neither Party will issue, or permit any agent or Affiliate of it to issue, any press releases or otherwise make, or cause any agent or Affiliate of it to make, any public statements with respect to this
Agreement and the transactions contemplated hereby, except where such release or statement is deemed in good faith by the releasing Party to be required by Law or under the rules and regulations of the New York Stock Exchange (or other public stock
exchange of similar reputation and standing) on which the shares of such Party or any of its Affiliates are listed, in both situations, after giving the non-releasing Party a reasonable opportunity to review and comment on such release or statement
unless such reasonable opportunity, in the good faith judgment of the releasing Party, would result in a late filing of such release of statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.5 <U>Hydrocarbon Interests Information</U>. As soon as reasonably practicable following the execution of this Agreement, but in no event later
than January&nbsp;30, 2014, Seller shall use commercially reasonable efforts to provide Buyer, for informational purposes only, with a schedule listing working interest and net revenue interest information (in each case, with before and after payout
interest to the extent such information is reasonably available) with respect to the Acquired Companies&#146; Hydrocarbon Interests, wells and Facilities (other than the Seller Legacy Assets). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.6 <U>Parties&#146; Efforts and Further Assurances</U>. Seller and Buyer each agree that from time to time after the Closing Date, each of them
will execute and deliver or cause their respective Affiliates to execute and deliver such further instruments, and take (or cause their respective Affiliates to take) such other action, as may be necessary to carry out the purposes and intents of
this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.7 <U>Removal; Change of Name</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Within a reasonable period of time following the Closing, and in any event within sixty (60)&nbsp;days of the BOEM&#146;s approval of the
change in any Acquired Company&#146;s name, ownership or the designation of operatorship with respect to a Hydrocarbon Interest, well or Facility held by an Acquired Company, as the case may be, Buyer shall and shall cause the Acquired Companies to
remove and eliminate the names and marks of Seller and any of its Affiliates (other than the Acquired Companies), including the name &#147;SandRidge&#148; (and all marks associated therewith), and any variations and derivatives thereof and any
logos, trademarks or trade names relating thereto from the Hydrocarbon Interests and all other assets of the Acquired Companies. Buyer shall have no right to use such names or marks (including any variations and/or derivatives thereof) or any logos,
trademarks or trade names relating thereto. The foregoing notwithstanding, to the extent the name &#147;SandRidge&#148; (and all marks associated therewith), and any variations and derivatives thereof and any logos, trademarks or trade names
relating thereto, is not currently marked on the Hydrocarbon Interests, wells or Facilities of the Acquired Companies or is not currently included in any SEMS plan, offshore spill response plan, or similar plan on file with the Bureau of Safety and
Environmental Enforcement, Seller shall use commercially reasonable efforts to cause a delay in requiring such marks to be made or including such name in such plans pending the Closing </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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hereof, at which time Buyer shall comply with the terms of the first sentence of this <U>Section&nbsp;6.7(a)</U>. Nothing in this <U>Section&nbsp;6.7(a)</U> shall require Seller (or, prior to
Closing, any Acquired Company) to take any action (or refrain from taking any action) if doing so would be reasonably expected to cause it to be in breach of Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within seven (7)&nbsp;days following the Closing, Buyer shall cause each of SandRidge Onshore, SandRidge Offshore and SandRidge Energy
Offshore to file a Certificate of Amendment with the Secretary of State of the State of Delaware to change its name to a name that is compliant with the foregoing provision of this <U>Section&nbsp;6.7</U>, and shall provide the filed copies of such
Certificates of Amendment to Seller promptly after filing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.8 <U>Books and Records</U>. No later than forty-five (45)&nbsp;Business Days
after the Closing Date, Seller shall make available to Buyer any books and records of the Acquired Companies (that are not already held by an Acquired Company) for pickup from Seller&#146;s offices during normal business hours; <I>provided</I> that
(a)&nbsp;Seller (and its Affiliates) may retain copies of all or any portion thereof and (b)&nbsp;such books and records shall exclude any files, records, contracts or documents of any Acquired Company or Seller relating to negotiating the purchase
and sale of the Purchased Equity, including any bids or offers received by Seller or the Acquired Companies for the sale of the Purchased Equity or the Hydrocarbon Interests in competition with Buyer&#146;s bid or offer, it being agreed that all
such competing bids or offers shall be the sole property of Seller. In no event shall Buyer or any of its Affiliates destroy any books and records of any Acquired Company without giving Seller sixty (60)&nbsp;days&#146; advance written notice
thereof and the opportunity, at Seller&#146;s expense, to obtain such books and records prior to their destruction unless in accordance with Buyer&#146;s records retention and destruction policy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.9 <U>Casualty and Condemnation</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) In the event of a Casualty Loss, to the extent insurance proceeds, condemnation awards or other payments are not committed, used or
applied by Seller prior to the Closing Date to repair, restore or replace such damaged or taken Hydrocarbon Interests, Seller shall at the Closing pay to Buyer all insurance proceeds, condemnation proceeds, awards and payments theretofore paid to
Seller by reason of such Casualty Loss. Any insurance proceeds, condemnation proceeds, awards and payments paid to Seller or an Affiliate of Seller (excluding Acquired Companies) after Closing by reason of a Casualty Loss of Hydrocarbon Interests,
shall be paid to Buyer promptly upon receipt by Seller. Notwithstanding the foregoing, any insurance proceeds, condemnation proceeds, awards and payments (or any rights thereto) by reason of a Casualty Loss that are held by or owed to Seller for the
account or benefit of any third Person joint interest owners shall not be paid by Seller to Buyer pursuant to this <U>Section&nbsp;6.9</U> and shall instead be transferred to the successor operator or other Person responsible therefor pursuant to
the terms of the applicable operating or other agreement. All payments required to be made by Seller to Buyer after Closing pursuant to this <U>Section&nbsp;6.9(a)</U> shall be net of all reasonable, out-of-pocket costs and expenses incurred by
Seller (or any of its Affiliates, excluding the Acquired Companies) in collecting the same. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) From and after Closing, Seller shall
reasonably cooperate and comply (at Buyer&#146;s sole cost and expense) with Buyer&#146;s reasonable written directions and instructions with respect to Seller&#146;s pursuit of the collection (under Seller&#146;s, or its Affiliates&#146; insurance
policies) of any insurance proceeds attributable to, or otherwise asserted to be payable with respect to, any Casualty Loss. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.10 <U>Bonds
and Guarantees</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) After Closing and until the earlier to occur of (i)&nbsp;the first (1st)&nbsp;anniversary of the Closing and
(ii)&nbsp;such time any Acquired Company is exempt from the supplemental bonding requirements of BOEM and the BOEM releases Seller from its financial guarantee (such period, the &#147;<U>Seller Assistance </U>
</P>
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<U>Period</U>&#148;), Seller shall continue to provide the Seller Parent Financial Guarantee to BOEM with respect to the supplemental bonding requirements of the Acquired Companies. During such
period, Buyer shall use reasonable efforts to cause each of the Acquired Companies to become exempt from the supplemental bonding requirements of BOEM and shall provide Seller with updates on its progress promptly upon Seller&#146;s request. During
the Seller Assistance Period, Buyer shall use its best efforts to ensure BOEM seeks any damages first against Buyer before the Seller Parent Financial Guarantee, and Buyer shall indemnify Seller (and its Affiliates and the other Seller Indemnified
Persons) from and against any and all Covered Liabilities incurred by Seller (or any of the other Seller Indemnified Persons) as a result of BOEM collecting any amounts from Seller under the Seller Parent Financial Guarantee for obligations of the
Acquired Companies (the foregoing described indemnity obligation, &#147;<U>Buyer BOEM Indemnity</U>&#148;). Notwithstanding anything to the contrary set forth in this Agreement, Seller and Buyer, as the case may be, shall be permitted (but shall
have no obligation) (i)&nbsp;in the case of Seller, to offset the amount of any then outstanding indemnity obligations it has to Buyer or any of the other Buyer Indemnified Persons pursuant to <U>Section&nbsp;11.2</U> by the amount of any then
outstanding Buyer BOEM Indemnity obligations and (ii)&nbsp;in the case of Buyer, to offset the amount of any then outstanding Buyer BOEM Indemnity obligations by the amount of any then outstanding indemnity obligations Seller has to Buyer or any of
the other Buyer Indemnified Persons pursuant to <U>Section&nbsp;11.2</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Schedule 4.2(x)</U> identifies the bonds and letters of
credit and other forms of financial assurance posted (or supported) by Seller, the Acquired Companies or any other Affiliate of Seller with respect to the Hydrocarbon Interests that will be in effect immediately prior to the Closing. Except with
respect to the escrow accounts set forth on <U>Schedule 6.10(b)</U>, the Parties understand that none of the bonds, letters of credit and other forms of financial assurance, if any, posted by Seller or any Affiliate of Seller (including the Acquired
Companies to the extent Seller or its Affiliates (except any of the Acquired Companies) provide credit support for any such bonds, letters of credit or other forms of financial assurance) with any Governmental Authority or third Person and relating
to the Hydrocarbon Interests are to be transferred to Buyer. Except with respect to the escrow accounts set forth on <U>Schedule 6.10(b)</U>, Buyer shall (i)&nbsp;obtain or cause to be obtained in the name of Buyer or its designee, replacements for
the bonds, letters of credit and other forms of financial assurance identified on <U>Schedule&nbsp;4.2(x)</U> and (ii)&nbsp;cause, effective as of the Closing or as soon as practicable thereafter, the cancellation or return to Seller of such bonds,
letters of credit or other forms of financial assurance, and Seller shall provide reasonable cooperation to Buyer (at no out-of-pocket cost to Seller) in connection therewith. Buyer may also provide evidence (reasonably acceptable to Seller) that
such replacements are not necessary as a result of existing bonds, letters of credit or other forms of financial assurance that Buyer has previously posted as long as such existing bonds, letters of credit or other forms of financial assurance are
adequate to secure the release of those posted (or supported) by Seller. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) With respect to the escrow accounts set forth on <U>Schedule
6.10(b)</U> and the amounts of escrowed funds held therein, the Parties agree that such escrow accounts (and the amounts therein) shall remain in place after the Closing Date and for a period of one year from the Closing Date (or, if earlier, the
date on which such escrow account is replaced with substitute financial assurance). On the first anniversary of the Closing Date (or, if earlier, the date on which such escrow account is replaced with substitute financial assurance), Buyer shall
cause an amount of cash to be disbursed to, or to be paid to, Seller, or its designee, equal to one-half of the total amounts set forth on <U>Schedule 6.10(b)</U>, which the Parties agree is equal to $13,976,721, <I>plus</I> any interest accrued
thereon, and minus one-half of the escrow fees and expenses applicable thereto, from the Effective Date until the date of payment to Seller, or its designee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.11 <U>Third Party Approvals</U>. Each of Buyer and Seller shall, and shall cause their respective Affiliates to, (i)&nbsp;make or cause to be
made the filings required of such Party or any of its Affiliates under any Laws with respect to the transactions contemplated by this Agreement and to pay any fees due of it in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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connection with such filings, as promptly as is reasonably practicable, and in any event within ten (10)&nbsp;Business Days after the date hereof, (ii)&nbsp;cooperate with the other Party and
furnish all information in such Party&#146;s possession that is necessary in connection with such other Party&#146;s filings, (iii)&nbsp;use commercially reasonable efforts to cause the expiration or termination of the notice or waiting periods
under the HSR Act and, if applicable, any other Laws with respect to the transactions contemplated by this Agreement as promptly as is reasonably practicable, (iv)&nbsp;promptly inform the other Party of (and, at the other Party&#146;s reasonable
request, supply to such other Party) any communication (or other correspondence or memoranda) from or to, and any proposed understanding or agreement with, any Governmental Authority in respect of such filings, (v)&nbsp;consult and cooperate with
the other Party in connection with any analyses, appearances, presentations, memoranda, briefs, arguments and opinions made or submitted by or on behalf of any Party in connection with all meetings, actions, discussions and proceedings with
Governmental Authorities relating to such filings, including, subject to Law, permitting the other Party to review in advance any proposed written communication between it and any Governmental Authority, (vi)&nbsp;comply, as promptly as is
reasonably practicable, with any requests received by such Party or any of its Affiliates under the HSR Act and any other Laws for additional information, documents or other materials, (vii)&nbsp;use commercially reasonable efforts to resolve any
objections asserted by any Governmental Authority with respect to the transactions contemplated by this Agreement and (viii)&nbsp;use commercially reasonable efforts to contest and resist any action or proceeding instituted (or threatened in writing
to be instituted) by any Governmental Authority challenging the transactions contemplated by this Agreement as in violation of any Law. If a Party or any of its Affiliates intends to participate in any meeting or discussion with any Governmental
Authority with respect to such filings or the transactions contemplated by this Agreement, it shall give the other Party reasonable prior notice of, and an opportunity to participate in, such meeting or discussion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.12 <U>Tax Matters</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
<U>Filing of Tax Returns</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Seller Consolidated Returns</U>. Seller shall prepare or cause to be prepared and file or cause to
be filed all Seller Consolidated Returns and shall pay all Taxes owed with respect to such Seller Consolidated Returns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii)
<U>Pre-Effective Time Tax Returns</U>. Seller shall prepare or cause to be prepared all Tax Returns (other than Seller Consolidated Returns) of the Acquired Companies for all Pre-Effective Time Tax Periods (&#147;<U>Pre-Effective Time Tax
Returns</U>&#148;) and shall file or cause to be filed any such Pre-Effective Time Tax Returns that are required to be filed on or before the Closing Date. Buyer will cause each Pre-Effective Time Tax Return that is required to be filed after the
Closing Date, as prepared by Seller, to be timely filed and will provide a copy thereof to Seller. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) <U>Straddle Period Tax
Returns</U>. Seller shall prepare or cause to be prepared all Tax Returns (other than Seller Consolidated Returns) of the Acquired Companies for all Straddle Periods that are required to be filed after the Closing Date (&#147;<U>Straddle Period Tax
Returns</U>&#148;). Not later than thirty (30)&nbsp;days prior to the due date (including applicable extensions) for filing any such Straddle Period Tax Return, Seller shall deliver a copy of such Tax Return, together with all supporting
documentation and workpapers, to Buyer for its review and reasonable comment. Buyer will cause such Straddle Period Tax Return (as prepared by Seller) to be timely filed and will provide a copy to Seller. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Proration of Straddle Period Taxes</U>. In the case of Taxes that are payable with respect
to any Straddle Period, the portion of any such Taxes that is attributable to the portion of the period ending prior to the Effective Time shall be: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) in the case of Taxes that are either (A)&nbsp;based upon or related to income or receipts, or (B)&nbsp;imposed in connection with
production, severance or any sale or other transfer or assignment of property (real or personal, tangible or intangible), deemed equal to the amount that would be payable if the Tax period of the Acquired Companies ended immediately prior to the
Effective Time; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) in the case of Taxes that are imposed on a periodic basis with respect to the assets of any Acquired Company,
deemed to be the amount of such Taxes for the entire Straddle Period (or, in the case of such Taxes determined on an arrears basis, the amount of such Taxes for the immediately preceding period), multiplied by a fraction the numerator of which is
the number of calendar days in the portion of the period ending on the day immediately prior to the day on which the Effective Time occurs and the denominator of which is the number of calendar days in the entire period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Cooperation</U>. Buyer and Seller shall cooperate fully as and to the extent reasonably requested by the other Party, in connection
with the filing of Tax Returns and any audit, litigation or other proceeding (each a &#147;<U>Tax Proceeding</U>&#148;) with respect to Taxes imposed on or with respect to the Acquired Companies. Such cooperation shall include the retention and
(upon the other Party&#146;s request) the provision of records and information that are reasonably relevant to any such Tax Return or Tax Proceeding and making employees available on a mutually convenient basis to provide additional information and
explanation of any material provided hereunder. Seller further agrees, upon request, to use commercially reasonable efforts to obtain any certificate or other document from any Governmental Authority or any other Person as may be necessary to
mitigate, reduce or eliminate any Tax that could be imposed on Buyer or the Acquired Companies (including with respect to the transactions contemplated hereby). Notwithstanding the above, the control and conduct of any Tax Proceeding that is a Third
Party Claim shall be governed by <U>Section&nbsp;11.3</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Amended Tax Returns</U>. Buyer shall not, and shall not permit its
Affiliates (including the Acquired Companies) to, amend any Tax Return of any Acquired Company for any Pre-Effective Time Tax Period or Straddle Period without the prior written consent of Seller, such consent not to be unreasonably withheld,
delayed or conditioned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>Refunds</U>. The amount of any refunds of Taxes of any Acquired Company for any Pre-Effective Time Tax
Period shall be for the account of Seller to the extent that Seller is responsible for such Taxes pursuant to this Agreement, except to the extent any such Tax refund (or receivable for Tax refund) was included as a Current Asset in the
determination of Effective Time Net Working Capital, as ultimately determined pursuant to <U>Article 3</U>. The amount of any refunds of Taxes of any Acquired Company for any Tax period beginning after the Effective Time shall be for the account of
Buyer. The amount of any refund of Taxes of any Acquired Company for any Straddle Period shall be equitably apportioned between Buyer and Seller in accordance with the principles set forth in <U>Section&nbsp;6.12(b)</U>. Each Party shall forward,
and shall cause its Affiliates to forward, to the Party entitled to receive a refund of Tax pursuant to this <U>Section&nbsp;6.12(e)</U> the amount of such refund within thirty (30)&nbsp;days after such refund is received, net of any reasonable
costs or expenses incurred by such Party or its Affiliates in procuring such refund. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Transfer Taxes</U>. The transactions
described in this Agreement involve the transfer of the Purchased Equity, which are intangible assets. Accordingly, the Parties do not anticipate that any transfer, documentary, sales, use, stamp, registration or other similar Taxes, or any
conveyance fees, recording charges or other similar fees and charges will be incurred or imposed with respect to the transactions described in this Agreement (collectively, &#147;<U>Transfer Taxes</U>&#148;). In the event any Transfer Taxes are due,
such Transfer Taxes shall be borne equally by Buyer and Seller. Buyer and Seller shall reasonably cooperate in good faith to minimize, to the extent permissible under Law, the amount of any such Transfer Taxes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <U>Tax Treatment; Purchase Price Allocation</U>. Seller and Buyer agree that the purchase and
sale of the Purchased Equity shall be treated for federal and applicable state income Tax purposes as a purchase and sale of the assets of each of SandRidge Onshore, SandRidge Offshore, SandRidge Energy Offshore, DBH, LLC, Bandon Oil and Gas GP,
LLC, Bandon Oil and Gas, LP and SPN Resources, LLC (the &#147;<U>Flow-Through Entities</U>&#148;). Seller and Buyer further agree that such treatment will result in SHI being treated as selling the stock of Galveston Bay Pipeline Company, Galveston
Bay Processing Corporation, and Dynamic Offshore Resources NS Acquisition, Inc. (collectively, the &#147;<U>Purchased Corporations</U>&#148;). The Parties agree that the Purchase Price and any assumed obligations treated for federal income Tax
purposes as consideration for a sale transaction (collectively, the &#147;<U>Allocable Amount</U>&#148;) shall be allocated among (i)&nbsp;the stock of each Purchased Corporation and (ii)&nbsp;the assets of the Flow-Through Entities (other than the
stock of the Purchased Corporations), for federal and applicable state income Tax purposes. Buyer and Seller shall agree on the allocation of the Allocable Amount (the &#147;<U>Allocation Schedule</U>&#148;) as promptly as reasonably practicable
after the Closing Date, and such allocation shall be prepared in a manner consistent with the Allocated Values to the extent permitted by Law. The Allocation Schedule shall be updated to reflect any adjustments to the Allocable Amount. The
allocation of the Allocable Amount shall be reflected on a completed Internal Revenue Service Form 8594 (Asset Acquisition Statement under Section&nbsp;1060), which Form will be timely filed separately by Buyer and Seller with the Internal Revenue
Service pursuant to the requirements of Section&nbsp;1060(b) of the Code. Each Party agrees not to take any position inconsistent with the allocations set forth in the Allocation Schedule unless required by Law or with the consent of the other
Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <U>Section&nbsp;336(e) Election</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Seller agrees to cause an election to be made under Code Section&nbsp;336(e) and the Treasury Regulations promulgated thereunder (and any
corresponding elections under state, local or foreign Tax law) (collectively a &#147;<U>Section 336(e) Election</U>&#148;) with respect to the Electing Companies. In order to effect the Section&nbsp;336(e) Election, (A)&nbsp;on or prior to the
Closing Date, SHI and each of the applicable Electing Companies shall enter into a written, binding agreement (the &#147;<U>Section 336(e) Agreement</U>&#148;) to make the Section&nbsp;336(e) Election, as required by Treasury Regulations Sections
1.336-2(h)(1)(i) and 1.336-2(h)(4), (B)&nbsp;SEI and the Electing Companies shall each retain a copy of the Section&nbsp;336(e) Agreement, as required by Treasury Regulations Section&nbsp;1.336-2(h)(1)(ii), (C)&nbsp;SEI shall prepare the
Section&nbsp;336(e) statements required by Treasury Regulations Section&nbsp;1.336-1(h)(1)(iii) and such statements shall be attached to the SEI consolidated federal income Tax Return (and any corresponding state or local income Tax Returns) for the
Tax year including the Closing Date and (D)&nbsp;SEI shall provide a copy of the Section&nbsp;336(e) statements described in clause (C)&nbsp;to each Electing Entity on or before the due date for filing the SEI consolidated federal income Tax Return
(and any corresponding state or local income Tax Returns) for the Tax year including the Closing Date, as required by Treasury Regulations Sections 1.336-2(h)(1)(iv). Each of Seller and Buyer agree to cause the Electing Companies to file a Form 8883
pursuant to Treasury Regulations Section&nbsp;1.336-2(h)(7) in a manner consistent with the allocation agreed upon pursuant to Section&nbsp;6.11(h)(iii). Seller and Buyer shall take all necessary steps to properly make a Section&nbsp;336(e) Election
in accordance with Law (and any corresponding provisions under state, local or foreign Law). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Seller and each Electing Company shall
report the transfers under this Agreement consistent with such Section&nbsp;336(e) Election and shall take no position contrary thereto. Seller and Buyer agree that any income and gain recognized as a result of, and in accordance with, the making of
the Section&nbsp;336(e) Election will be included in the federal income Tax Return of the Seller Consolidated Group for the taxable year that includes the Closing Date. Seller will pay the Taxes attributable to the making of the Section&nbsp;336(e)
Election and will indemnify Buyer and each Acquired Company against any failure to pay such Tax. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) The computation of the &#147;aggregate deemed asset disposition price&#148; and
&#147;adjusted grossed up basis&#148; (as defined in the applicable Treasury Regulations) (the &#147;<U>ADADP</U>&#148; and &#147;<U>AGUB</U>&#148;, respectively) of the assets of the Electing Companies shall be prepared in accordance with
Section&nbsp;336(e) and the Treasury Regulations promulgated thereunder. Buyer and Seller shall agree on the allocation of the ADADP and AGUB among the assets of the Electing Companies as promptly as reasonably practicable after the Closing Date.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Section&nbsp;754 Election</U>. Seller shall cooperate fully as and to the extent reasonably requested by Buyer to cause an
election under Section&nbsp;754 of the Code to be made with respect to any tax partnership set forth on <U>Schedule 4.2(k)</U>, effective for the Tax period of such tax partnership that includes the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.13 <U>Insurance</U>. Buyer acknowledges that, from and after the Closing Date, none of the Insurance Policies will be available to it or its
Affiliates (including, from and after the Closing, the Acquired Companies), or with respect to any of the Hydrocarbon Interests (or the Acquired Companies), and that Buyer and its Affiliates shall be responsible in their sole discretion for
maintaining their own insurance programs to provide coverage for Buyer, its Affiliates and their respective businesses, assets (including the Hydrocarbon Interests), employees, officers, directors, managers and members. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.14 <U>Affiliate Transactions</U>. At or prior to Closing, Seller (or an Affiliate of Seller, as applicable), on the one hand, and each Acquired
Company (as applicable), on the other hand, shall terminate all unperformed agreements or contracts that are Affiliate Transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.15
<U>Intercompany Indebtedness</U>. Prior to the Closing, Seller shall cause (a)&nbsp;all Indebtedness owing by one or more of the Acquired Companies to Seller and/or any of its Affiliates (other than the Acquired Companies) and (b)&nbsp;all
Indebtedness owing by Seller and/or any of its Affiliates (other than the Acquired Companies) to one or more of the Acquired Companies, in each case, to be settled on a non-cash basis without adjustment to the Purchase Price or Adjusted Purchase
Price under <U>Section&nbsp;3.1</U> and with no further liability or obligation of any Acquired Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.16 <U>Preferential Purchase
Rights; Transfer Requirements</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Promptly after the date hereof, Seller shall prepare and send (i)&nbsp;notices to the holders of
any Transfer Requirements that are set forth in <U>Schedule 4.2(o)</U>, or that are identified to Seller or any of the Acquired Companies after the date of this Agreement and prior to the Closing, requesting consents to the transactions contemplated
by this Agreement and (ii)&nbsp;notices to the holders of any applicable Preferential Rights that are set forth in <U>Schedule 4.2(o)</U>, or that are identified to Seller or any of the Acquired Companies after the date of this Agreement and prior
to the Closing, requesting waivers of such rights. Prior to Closing, Seller shall use its commercially reasonable efforts to cause such Transfer Requirements (and any fees payable in connection therewith) and waivers of Preferential Rights (or the
exercise thereof) to be obtained and delivered prior to Closing; <I>provided, however</I>, that Seller and its Affiliates shall not be required to make payments or undertake obligations to or for the benefit of the holders of such rights in order to
obtain the Transfer Requirements (and any fees payable in connection therewith). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Should the holder of any Preferential Right set forth in <U>Schedule 4.2(o)</U>, or that are
identified to Seller or any of the Acquired Companies after the date of this Agreement and prior to the Closing, validly exercise the same (whether before or after the Closing), then: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) To the extent that the Allocated Values set forth in this Agreement or the Schedules hereto do not specifically allocate value to an asset
that is subject to the Preferential Right, Seller shall cooperate with Buyer to allocate a reasonable value to such asset for use in the determination of the applicable Preferential Right; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Seller shall cause the applicable Acquired Company, as owner of the applicable asset, before the Closing, and Buyer shall cause the
applicable Acquired Company, as owner of the applicable asset, after the Closing, to transfer such asset to the holder of the Preferential Right on the terms and provisions set out in the applicable Preferential Right provision; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) such applicable Acquired Company shall be entitled to the consideration paid by such holder, and such consideration received shall not
result in any change to the Purchase Price or the Adjusted Purchase Price under <U>Section&nbsp;3.1</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.17 <U>Seismic Transfer</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Schedule 6.17</U> sets forth all Seismic Licenses by which any Acquired Company is bound that would require the consent from the
counterparty thereto and/or the payment of any amount as a result of the consummation of the transactions contemplated hereunder (or that otherwise relate to any Acquired Company&#146;s business or operations). Within ten (10)&nbsp;Business Days
after the date of this Agreement, Buyer shall notify Seller in writing with respect to each Seismic License whether it is to be (i)&nbsp;terminated and cancelled (the &#147;<U>Terminated Licenses</U>&#148;) or (ii)&nbsp;retained by (or assigned to)
any Acquired Company (the &#147;<U>Retained Licenses</U>&#148;). Prior to the Closing but after such ten (10)&nbsp;Business Day period, Seller shall, and Buyer shall assist Seller to, terminate and cancel all Terminated Licenses identified by Buyer
(it being understood and agreed that Seller shall only be obligated to so terminate the Terminated Licenses to the extent that the same is permitted by the applicable terms thereof without payment of any penalty or fee by Seller (or any of its
Affiliates, other than the Acquired Companies)). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) With respect to any Seismic License that is terminated or cancelled by Seller, the
Acquired Companies shall retain for their own benefit all interpretations, data and other records that such Acquired Company is entitled to retain under such Seismic License after its termination or cancellation. With respect to any Seismic License
that is not terminated or cancelled (or assigned to an Acquired Company) hereunder, the Acquired Companies shall retain for its own benefit all interpretations, data and other records that the Acquired Companies are entitled to retain under such
Seismic License. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.18 <U>Master Service Agreements</U>. Seller agrees (a)&nbsp;reasonably promptly after the date hereof, to use reasonable
efforts to provide Buyer with (i)&nbsp;a list of all service providers (individually, a &#147;<U>Service Provider</U>&#148; and collectively, the &#147;<U>Service Providers</U>&#148;) who have, to the Knowledge of Seller, provided services to any of
the Acquired Companies during 2013 pursuant to any master service agreements, master vessel agreements, flight service agreements, drilling agreements, consulting agreements, similar service agreements or related purchase orders (individually, an
&#147;<U>MSA</U>&#148; and collectively the &#147;<U>MSAs</U>&#148;) and (ii)&nbsp;the names and contact information for the primary representative for each Service Provider and (b)&nbsp;to reasonably cooperate with Buyer and its representatives for
purposes of this <U>Section&nbsp;6.18</U>.&nbsp;Buyer shall have the right to contact each Service Provider for the purpose of coordinating the transition of the MSA for such Service Provider to a form of agreement used by Buyer, subject to, and
effective as of, the Closing. To the extent that any MSA used by the Acquired Companies has been entered into by Seller or an Affiliate of Seller other than the Acquired Companies, and which is not assigned to the Acquired Companies at Closing,
Seller and Buyer will reasonably cooperate to cause the services being provided to the Acquired Companies under such MSA to be transitioned to an agreement with the respective Acquired Company or Buyer at the Closing, using Buyer&#146;s form of
agreement, or to put in place reasonable arrangements for the Acquired Companies to continue to have the right to all services </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
thereunder for work or purchase orders that are ongoing at the Closing Date, at the cost and expense of the Acquired Companies. Seller agrees that Buyer may also request each Service Provider to
acknowledge that any existing purchase orders of the Acquired Companies will be transitioned to Buyer&#146;s form of agreement at the Closing and that all purchase orders after the Closing with such Service Provider shall be made under Buyer&#146;s
form of agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.19 <U>Continuation of Existing Indemnification Obligations</U>. From and after the Closing, Buyer shall cause each of
the Acquired Companies to continue any indemnity or hold harmless provision with respect to each respective present and former director and officer of the Acquired Companies against any losses incurred in connection with any claim, action, suit,
proceeding or investigation, whether civil, criminal, administrative or investigative, arising out of matters existing or occurring at or prior to the Closing, whether asserted or claimed prior to, at or after the Closing to the fullest extent that
the Acquired Companies were permitted and/or required to indemnify such Person under Law and its respective organizational documents in effect on the date hereof. The provisions of this <U>Section&nbsp;6.19</U> are intended to be for the benefit of,
and shall be enforceable by, each of the present and former directors and officers of the Acquired Companies, their respective heirs and their respective representatives and shall survive the Closing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.20 <U>Financial Statements; Relevant Cooperation</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Seller shall deliver to Buyer prior to Closing, (i)&nbsp;an unaudited statement of the Assets and the Liabilities of the Acquired
Companies, in each case, as of December&nbsp;31, 2013 and (ii)&nbsp;an unaudited statement of revenues and direct operating expenses of the Acquired Companies for the twelve (12)&nbsp;months ending on December&nbsp;31, 2013, in each case, in
substantially the same format as the statements included in the Financial Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Seller acknowledges that Buyer and/or its
Affiliates may be required to include statements of revenue and direct operating expense and other financial information relating to the Acquired Companies for periods ending on or prior to the Closing Date in documents filed by Buyer with the BOEM
or the Securities and Exchange Commission pursuant to Law and that such financial statements may be required to be audited and may need to comply with the requirements of a Registration Statement on Form S-1, and the rules and set forth in
Regulation S-X (the &#147;<U>Requisite Financial Statement Information</U>&#148;). Buyer shall be responsible, and obligated to reimburse Seller, for all reasonable costs and expenses (third Person or internal resources and personnel) incurred by
Seller associated with obtaining the Requisite Financial Statement Information (and/or in having the same, at Buyer&#146;s request, audited). Seller shall provide Buyer with reasonable access during normal business hours to relevant records (to the
extent such information is available) and personnel of Seller and use reasonable efforts to provide reasonable access during normal business hours to Seller&#146;s accounting firm, in each case, as Buyer may reasonably request to enable Buyer, and
it agents and accountants, for the sole purpose of creating and auditing the Requisite Financial Statement Information. Without limiting Buyer&#146;s rights under <U>Section&nbsp;11.2</U> (as provided therein), Buyer agrees to defend, indemnify and
hold harmless Seller (and the other Seller Indemnified Persons) from and against any and all Covered Liabilities incurred by Seller (or any other Seller Indemnified Persons) that arise out of (or are attributable to) Buyer&#146;s use of any
Requisite Financial Statement Information. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 7 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CLOSING CONDITIONS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.1
<U>Seller&#146;s Closing Conditions</U>. The obligation of Seller to proceed with the Closing contemplated hereby is subject, at the option of Seller, to the satisfaction (or waiver in writing by Seller) of all of the following conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Representations, Warranties and Covenants</U>. The (i)&nbsp;representations and warranties of Buyer contained in this Agreement shall
be true and correct in all respects (in each case, without giving effect to any materiality, material or material adverse effect standard or qualification (or other similar standards and/or qualifications) set forth in the representations and
warranties) as of the date of this Agreement and on the Closing Date as if made on such date (other than representations and warranties that refer to a specific date or time, which need only be true and correct in all respects as of such specific
date or time), except to the extent that the failure of such representations and warranties to be true and correct in all respects would not, individually or in the aggregate, result in (or be reasonably expected to result in) a material adverse
effect on the ability of Buyer to perform its obligations under this Agreement and (ii)&nbsp;covenants and agreements of Buyer to be performed on or before the Closing Date in accordance with this Agreement shall have been duly performed or complied
with in all material respects. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Officer&#146;s Certificate</U>. Seller shall have received a certificate dated as of the Closing
Date, executed on behalf of Buyer by a duly authorized officer of Buyer, to the effect that the conditions set forth in subsection (a)&nbsp;of this <U>Section&nbsp;7.1</U> have been satisfied. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Closing Documents</U>. On or prior to the Closing Date, Buyer shall have delivered, or be standing ready to deliver at Closing, all
agreements, instruments and other documents required to be delivered by Buyer pursuant to <U>Section&nbsp;8.3</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>No Action</U>.
As of the Closing Date, no Action (excluding any such matter initiated by Seller or any of its Affiliates) shall be in effect that constitutes a preliminary injunction or order, decree, or ruling issued by a court of competent jurisdiction or by a
governmental regulatory or administrative agency or commission that makes illegal or otherwise prevents the consummation of the transactions contemplated by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>HSR Act</U>. The waiting period (and any extension thereof) applicable to the transactions contemplated hereby under the HSR Act shall
have been terminated or shall have expired. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Casualty Loss</U>. The reasonably estimated aggregate amount of all Casualty Losses
shall not exceed twenty percent (20%)&nbsp;of the Purchase Price. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.2 <U>Buyer&#146;s Closing Conditions</U>. The obligation of Buyer to
proceed with the Closing contemplated hereby is subject, at the option of Buyer, to the satisfaction (or waiver in writing by Buyer) of all of the following conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Representations, Warranties and Covenants</U>. The (i)&nbsp;representations and warranties of Seller contained in this Agreement (other
than the representations and warranties set forth in <U>Sections&nbsp;4.2(r)(i)</U>, <U>4.2(r)(iii)</U> and <U>4.2(r)(v)</U>) shall be true and correct in all respects (in each case, without giving effect to any materiality, material, material
adverse effect or Material Adverse Effect standard or qualification (or other similar standards and/or qualifications) set forth in the representations and warranties) as of the date of this Agreement and on the Closing Date as if made on such date
(other than representations and warranties that refer to a specific date or time, which need only be true and correct in all respects as of such specific date or time), except to the extent that the failure of such representations and warranties to
be true and correct in all respects would not, individually or in the aggregate, result in (or reasonably be expected to result in) a Material Adverse Effect on the Acquired Companies, taken as a whole, or on the ability of Seller to perform its
obligations under this Agreement and (ii)&nbsp;covenants and agreements of Seller to be performed on or before the Closing Date in accordance with this Agreement shall have been duly performed or complied with in all material respects. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Officer&#146;s Certificate</U>. Buyer shall have received a certificate dated as of the
Closing Date, executed on behalf of Seller by a duly authorized officer of Seller, to the effect that the conditions set forth in subsection (a)&nbsp;of this <U>Section&nbsp;7.2</U> have been satisfied (&#147;<U>Seller&#146;s Closing
Certificate</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Closing Documents</U>. On or prior to the Closing Date, Seller shall have delivered, or be standing ready
to deliver at the Closing, all agreements, instruments and other documents required to be delivered by Seller pursuant to <U>Section&nbsp;8.2</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>No Action</U>. As of the Closing Date, no Action (excluding any such matter initiated by Seller or any of its Affiliates) shall be in
effect that constitutes a preliminary injunction or order, decree, or ruling issued by a court of competent jurisdiction or by a governmental regulatory or administrative agency or commission that makes illegal or otherwise prevents the consummation
of the transactions contemplated by this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <U>HSR Act</U>. The waiting period (and any extension thereof) applicable to the
transactions contemplated hereby under the HSR Act shall have been terminated or shall have expired. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <U>Casualty Loss</U>. The
reasonably estimated aggregate amount of all Casualty Losses shall not exceed twenty percent (20%)&nbsp;of the Purchase Price. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 8
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CLOSING </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.1 <U>Closing</U>.
The Closing shall be held at the offices of Vinson&nbsp;&amp; Elkins LLP, 1001 Fannin Street, Suite 2500, Houston, Texas, on the later of (i)&nbsp;February&nbsp;26, 2014 and (ii)&nbsp;the second (2nd)&nbsp;Business Day following the satisfaction or
waiver of all conditions to the obligations of the Parties set forth in <U>Article 7</U> (other than those conditions that, by their nature, are to be satisfied only at the Closing Date, but subject to the satisfaction or waiver of such conditions
at Closing in accordance with this Agreement) or such other date as Buyer and Seller may mutually agree in writing (the date on which the Closing occurs is referred to herein as the &#147;<U>Closing Date</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.2 <U>Seller&#146;s Closing Obligations</U>. At Closing, Seller shall execute and deliver, or cause to be executed and delivered, to Buyer the
following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) an instrument of assignment of the Purchased Equity to Buyer, substantially in the form set forth on <U>Exhibit B</U>
hereto (the &#147;<U>Assignment</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) resignations of the board of directors and officers of the Acquired Companies effective
as of Closing in form and substance reasonably acceptable to Buyer; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Seller&#146;s Closing Certificate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) an executed certificate of non-foreign status of SHI that satisfies the requirements of Treasury Regulations &#167; 1.1445-2(b)(2); and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the ORRI Conveyances, the Transition Services Agreement and any other agreements, instruments and documents that are required by
other terms of this Agreement to be executed and/or delivered by Seller to Buyer at the Closing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.3 <U>Buyer&#146;s Closing Obligations</U>. At Closing, Buyer shall (i)&nbsp;deliver, or cause to
be delivered, the Closing Payment to Seller in immediately available funds to the bank account as provided in <U>Schedule&nbsp;3.3(e)</U> and (ii)&nbsp;execute and deliver, or cause to be executed and delivered, to Seller the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the officer&#146;s certificate of Buyer referred to in <U>Section&nbsp;7.1(b)</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Assignment, duly executed by Buyer; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the ORRI Conveyances, the Transition Services Agreement and any other agreements, instruments and documents that are required by other
terms of this Agreement to be executed and/or delivered by Buyer to Seller at the Closing. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 9 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SURVIVAL PERIOD </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.1
<U>Survival</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) All representations, warranties, covenants, and obligations in this Agreement, the Schedules, the supplements to the
Schedules, and any certificate, document, or other writing delivered pursuant to this Agreement will survive the Closing and the consummation and performance of the transactions contemplated by this Agreement in accordance with the terms of this
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) If the Closing occurs, Seller shall have liability under <U>Section&nbsp;11.2</U>: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) with respect to any breach of a representation or warranty or any breach of any covenant of Seller, only if on or before the date that is
one (1)&nbsp;year after the Closing Date, Buyer notifies Seller of a claim with respect thereto, specifying the factual basis of such claim in reasonable detail; <I>provided</I> that (A)&nbsp;a claim under <U>Section&nbsp;11.2</U> relating to the
breach of any of the Seller Fundamental Representations may be made at any time, (B)&nbsp;a claim under <U>Section&nbsp;11.2</U> relating to the breach of any representation or warranty contained in <U>Sections 4.2(k)</U> and <U>4.2(m)</U> shall be
made on or before the date that is sixty (60)&nbsp;days after the expiration of the applicable statute of limitations, (C)&nbsp;a claim under <U>Section&nbsp;11.2</U> relating to the breach of any representation or warranty contained in
<U>Section&nbsp;4.2(dd)</U> shall be made on or before the date that is two (2)&nbsp;years after the Closing Date and (D)&nbsp;a claim under <U>Section&nbsp;11.2</U> relating to the breach of any representation or warranty contained in
<U>Section&nbsp;4.2(r)</U> shall be made on or before the date that is thirty (30)&nbsp;days after the date that is six (6)&nbsp;months after the Closing Date; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) with respect to the indemnities set forth in <U>Sections 11.2(c)</U> and <U>11.2(e)</U>, only if on or before the date that is sixty
(60)&nbsp;days after the date on which the statute of limitations applicable thereto expires, Buyer notifies Seller of a claim with respect thereto, specifying the factual basis of such claim in reasonable detail; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) with respect to the indemnities set forth in <U>Sections 11.2(d)</U> and <U>11.2(f)</U>, only if on or before the date that is two
(2)&nbsp;years after the Closing Date, Buyer notifies Seller of a claim with respect thereto, specifying the factual basis of such claim in reasonable detail. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) If the Closing occurs, Buyer shall have liability under <U>Section&nbsp;11.1</U> with respect to any breach of a representation or
warranty (other than the Buyer Fundamental Representations, as to which a claim may be made at any time) or any breach of any covenant of Buyer (other than any covenant that by its express terms is intended to be performed after the Closing, with
respect to which a claim may be made at any time prior to the expiration of the statute of limitations applicable to the performance of such covenant), only if on or before the date that is one (1)&nbsp;year after the Closing Date, Seller notifies
Buyer of a claim with respect thereto specifying the factual basis of such claim in reasonable detail to the extent known by Seller. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 10 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LIMITATIONS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;10.1 <U>Disclaimer of
Warranties</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(a) <B>BUYER ACKNOWLEDGES AND AGREES THAT BUYER IS EXPERIENCED IN THE OWNERSHIP AND OPERATION OF PROPERTIES
SIMILAR TO THE HYDROCARBON INTERESTS AND THAT BUYER PRIOR TO THE DATE HEREOF HAS HAD THE OPPORTUNITY TO INSPECT THE HYDROCARBON INTERESTS AND ALL OTHER ASSETS OF THE ACQUIRED COMPANIES TO ITS SATISFACTION AND IS QUALIFIED TO MAKE SUCH INSPECTION,
BUT NOTHING IN THIS SENTENCE IS A LIMITATION ON SELLER&#146;S REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT OR IN SELLER&#146;S CLOSING CERTIFICATE. BUYER ACKNOWLEDGES THAT IT IS NOT RELYING UPON ANY STATEMENTS (ORAL OR WRITTEN) THAT
MAY HAVE BEEN MADE OR MAY BE MADE (OR PURPORTEDLY MADE) BY SELLER OR THE ACQUIRED COMPANIES OR ANY OF THEIR REPRESENTATIVES (EXCEPT AS PROVIDED IN THIS AGREEMENT, OR SELLER&#146;S CLOSING CERTIFICATE). BUYER ACKNOWLEDGES THAT BUYER HAS (OR
BUYER&#146;S REPRESENTATIVES HAVE), PRIOR TO THE DATE HEREOF, HAD THE OPPORTUNITY TO THOROUGHLY INSPECT AND EXAMINE THE HYDROCARBON INTERESTS AND ALL OTHER ASSETS OF THE ACQUIRED COMPANIES TO THE EXTENT DEEMED NECESSARY BY BUYER IN ORDER TO ENABLE
BUYER TO EVALUATE THE CONDITION OF SUCH HYDROCARBON INTERESTS AND ASSETS AND ALL OTHER ASPECTS OF SUCH HYDROCARBON INTERESTS AND ASSETS AS OF THE DATE HEREOF (INCLUDING THE ENVIRONMENTAL CONDITION OF SUCH HYDROCARBON INTERESTS AND ASSETS), BUT
NOTHING IN THIS SENTENCE IS A LIMITATION ON SELLER&#146;S REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT OR IN SELLER&#146;S CLOSING CERTIFICATE. FURTHER, EXCEPT AS EXPRESSLY REPRESENTED IN THIS AGREEMENT OR IN SELLER&#146;S CLOSING
CERTIFICATE, IT IS THE EXPLICIT INTENT AND UNDERSTANDING OF ALL PARTIES THAT SELLER IS NOT MAKING ANY REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, BEYOND THOSE REPRESENTATIONS OR WARRANTIES EXPRESSLY GIVEN IN THIS
AGREEMENT OR SELLER&#146;S CLOSING CERTIFICATE, AND AS A MATERIAL INDUCEMENT FOR SELLER TO ENTER INTO THIS AGREEMENT, IT IS UNDERSTOOD THAT, WITHOUT LIMITING SUCH EXPRESS REPRESENTATIONS AND WARRANTIES, EXCEPT AS EXPRESSLY SET FORTH IN THIS
AGREEMENT OR IN SELLER&#146;S CLOSING CERTIFICATE, BUYER TAKES THE HYDROCARBON INTERESTS AND ALL OTHER ASSETS OF THE ACQUIRED COMPANIES &#147;AS IS&#148; AND &#147;WHERE IS&#148; AND &#147;WITH ALL FAULTS.&#148; WITHOUT LIMITING THE GENERALITY OF
THE IMMEDIATELY PRECEDING SENTENCE, EXCEPT AS EXPRESSLY REPRESENTED IN THIS AGREEMENT OR IN SELLER&#146;S CLOSING CERTIFICATE, SELLER HEREBY (I)&nbsp;EXPRESSLY DISCLAIMS AND NEGATES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AT COMMON LAW,
BY STATUTE OR OTHERWISE, RELATING TO (A)&nbsp;THE CONDITION OF THE HYDROCARBON INTERESTS OR ANY OTHER ASSETS OF THE ACQUIRED COMPANIES (INCLUDING ANY IMPLIED OR EXPRESS WARRANTY OF QUALITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR OF
CONFORMITY TO MODELS OR SAMPLES OF MATERIALS), (B)&nbsp;THE ENVIRONMENTAL CONDITION OF THE HYDROCARBON INTERESTS OR ANY OTHER ASSETS OF THE </B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>
ACQUIRED COMPANIES (INCLUDING THEIR COMPLIANCE STATUS UNDER ENVIRONMENTAL LAWS AND/OR THE PRESENCE OR ABSENCE OF ANY HAZARDOUS SUBSTANCE IN OR ON, OR DISPOSED OF OR DISCHARGED FROM, THE
HYDROCARBON INTERESTS OR ANY OTHER ASSETS OF THE ACQUIRED COMPANIES), OR (C)&nbsp;ANY INFRINGEMENT BY SELLER OR ANY OF ITS AFFILIATES (INCLUDING THE ACQUIRED COMPANIES) OF ANY PATENT OR PROPRIETARY RIGHT OF ANY THIRD PERSON); AND (II) NEGATES ANY
RIGHTS OF BUYER UNDER STATUTES TO CLAIM DIMINUTION OF CONSIDERATION AND ANY CLAIMS BY BUYER FOR DAMAGES BECAUSE OF REDHIBITORY VICES OR DEFECTS, WHETHER KNOWN OR UNKNOWN, IT BEING THE INTENTION OF SELLER AND BUYER THAT THE HYDROCARBON INTERESTS AND
ALL OTHER ASSETS OF THE ACQUIRED COMPANIES ARE TO BE ACCEPTED BY BUYER (THROUGH BUYER&#146;S ACQUISITION OF THE PURCHASED EQUITY) IN THEIR PRESENT CONDITION AND STATE OF REPAIR</B>.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(b) <B>EXCEPT AS EXPRESSLY REPRESENTED OTHERWISE IN THIS AGREEMENT OR IN SELLER&#146;S CLOSING CERTIFICATE, AND WITHOUT LIMITING THE
GENERALITY OF THE FOREGOING LIMITATIONS, SELLER EXPRESSLY DISCLAIMS ANY REPRESENTATION OR WARRANTY, EXPRESS, STATUTORY OR IMPLIED, AS TO (I)&nbsp;TITLE TO ANY OF THE HYDROCARBON INTERESTS OR ANY OTHER ASSETS OF THE ACQUIRED COMPANIES, (II) THE
CONTENTS, CHARACTER, NATURE, ACCURACY, COMPLETENESS OR SUFFICIENCY OF SCOPE OF ANY INFORMATION, MEMORANDUM, OPINION, ANALYSIS, DATA, INVESTIGATION, AUDIT OR ANY REPORT OF ANY ENVIRONMENTAL ENGINEER OR CONSULTANT, PETROLEUM ENGINEERING CONSULTANT, OR
ANY ENGINEERING, GEOLOGICAL OR SEISMIC DATA OR INTERPRETATION, RELATING TO THE HYDROCARBON INTERESTS OR ANY OTHER ASSETS OF THE ACQUIRED COMPANIES, (III) THE QUANTITY, QUALITY OR RECOVERABILITY OF HYDROCARBONS IN OR FROM THE HYDROCARBON INTERESTS,
(IV)&nbsp;ANY ESTIMATES OF THE VALUE OF THE HYDROCARBON INTERESTS OR FUTURE REVENUES GENERATED BY THE HYDROCARBON INTERESTS, (V)&nbsp;THE PRODUCTION OF HYDROCARBONS FROM THE HYDROCARBON INTERESTS, (VI) THE MAINTENANCE, REPAIR, CONDITION, QUALITY,
SUITABILITY, DESIGN OR MARKETABILITY OF THE HYDROCARBON INTERESTS OR ANY OTHER ASSETS OF THE ACQUIRED COMPANIES, (VII) THE CONTENT, CHARACTER OR NATURE OF ANY INFORMATION MEMORANDUM, REPORTS, BROCHURES, CHARTS OR STATEMENTS PREPARED BY THIRD
PARTIES, (VIII) ANY PRICING ASSUMPTIONS, (IX) PROJECTED DEVELOPMENT COSTS, (X)&nbsp;PLUGGING AND ABANDONMENT COSTS, (XI) ANY OTHER MATTERS CONTAINED IN OR RELATED TO THE RESERVE REPORT AND (XII) ANY OTHER MATERIALS OR INFORMATION THAT MAY HAVE BEEN
MADE AVAILABLE OR COMMUNICATED TO BUYER OR ITS AFFILIATES, OR ITS OR THEIR EMPLOYEES, AGENTS, CONSULTANTS, REPRESENTATIVES OR ADVISORS IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY DISCUSSION OR PRESENTATION RELATING
THERETO. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(c)<B> WITHOUT LIMITING BUYER&#146;S REMEDIES SET FORTH IN <U>ARTICLES 11</U> AND <U>12</U>, NEITHER SELLER NOR ANY
ACQUIRED COMPANY MAKES ANY WARRANTY OR REPRESENTATION, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, WITH RESPECT TO ANY ACQUIRED COMPANY&#146;S TITLE TO ANY OF THE HYDROCARBON INTERESTS (INCLUDING ANY OF THE SUBJECT INTERESTS) OR ANY OF THE OTHER
ASSETS AND PROPERTIES OF THE ACQUIRED COMPANIES, AND BUYER HEREBY ACKNOWLEDGES AND AGREES THAT BUYER&#146;S SOLE REMEDY FOR ANY DEFECT OF TITLE, INCLUDING ANY TITLE DEFECT WITH RESPECT TO ANY OF THE SUBJECT INTERESTS SHALL BE PURSUANT TO THE
PROCEDURES SET FORTH IN <U>ARTICLES&nbsp;11</U> AND <U>12</U>. </B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>Section&nbsp;10.2 <U>Redhibition Waiver</U>. <B>BUYER WAIVES ALL RIGHTS IN REDHIBITION PURSUANT TO
LOUISIANA CIVIL CODE ARTICLES 2475 AND 2520 THROUGH 2548, AND ACKNOWLEDGES THAT THIS EXPRESS WAIVER SHALL BE CONSIDERED A MATERIAL AND INTEGRAL PART OF THIS SALE AND THE CONSIDERATION THEREOF. BUYER ACKNOWLEDGES THAT THIS WAIVER HAS BEEN BROUGHT TO
ITS ATTENTION AND HAS BEEN EXPLAINED IN DETAIL AND THAT BUYER HAS VOLUNTARILY AND KNOWINGLY CONSENTED TO THIS WAIVER OF WARRANTY OF FITNESS AND WARRANTY AGAINST REDHIBITORY VICES AND DEFECTS FOR THE HYDROCARBON INTERESTS. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>Section&nbsp;10.3 <U>Damages</U>. <B>NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, SELLER AND BUYER AGREE THAT, EXCEPT FOR THE LIQUIDATED DAMAGES
SPECIFICALLY PROVIDED FOR IN <U>SECTION 12.2(a)</U> AND THE SPECIFIC PERFORMANCE, INJUNCTIVE AND/OR EQUITABLE RELIEF FOR CLAIMS OF BREACHES OR FAILURE TO PERFORM COVENANTS PERFORMABLE UNDER THIS AGREEMENT, THE RECOVERY BY EITHER PARTY OF ANY DAMAGES
SUFFERED OR INCURRED BY IT AS A RESULT OF ANY BREACH OR NONFULFILLMENT BY THE OTHER PARTY OF ANY OF ITS REPRESENTATIONS, WARRANTIES OR OBLIGATIONS UNDER THIS AGREEMENT, INCLUDING IN CONNECTION WITH ANY INDEMNITY SET FORTH IN THIS AGREEMENT, SHALL BE
LIMITED TO THE ACTUAL DAMAGES SUFFERED OR INCURRED BY THE NON-BREACHING PARTY (AND THE INDEMNIFIED PERSONS TO WHICH SUCH OBLIGATIONS MAY EXTEND UNDER THE TERMS HEREOF) AS A RESULT OF THE BREACH OR NONFULFILLMENT BY THE BREACHING PARTY OF ITS
REPRESENTATIONS, WARRANTIES OR OBLIGATIONS HEREUNDER, AND IN NO EVENT SHALL THE BREACHING PARTY BE LIABLE TO THE NON-BREACHING PARTY OR ANY INDEMNIFIED PERSON FOR ANY INDIRECT, CONSEQUENTIAL, SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES (INCLUDING ANY
SUCH DAMAGES ON ACCOUNT OF LOST PROFITS OR OPPORTUNITIES, BUSINESS INTERRUPTION OR LOST OR DELAYED PRODUCTION) SUFFERED OR INCURRED BY THE NON-BREACHING PARTY OR ANY INDEMNIFIED PERSON AS A RESULT OF THE BREACH OR NONFULFILLMENT BY THE BREACHING
PARTY OF ANY OF ITS REPRESENTATIONS, WARRANTIES OR OBLIGATIONS HEREUNDER, INCLUDING IN CONNECTION WITH ANY INDEMNITY SET FORTH IN THIS AGREEMENT.</B> For purposes of the foregoing, actual damages may, however, include indirect, consequential,
special, exemplary or punitive damages to the extent such damages are recovered against an Indemnified Person by a Person that is not a Seller Indemnified Person, a Buyer Indemnified Person or an Affiliate of any of the foregoing. This
<U>Section&nbsp;10.3</U> shall operate only to limit a Party&#146;s liability and shall not operate to increase or expand any contractual obligation of a Party hereunder or cause any contractual obligation of a Party hereunder to survive longer than
provided in <U>Section&nbsp;9.1</U>. <B> </B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 11 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INDEMNIFICATION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.1
<U>Indemnification By Buyer</U>. Subject to <U>Sections 9.1(c)</U> and <U>11.5</U>, from and after the Closing, Buyer shall indemnify, defend, hold harmless and reimburse Seller, Seller&#146;s Affiliates, each of Seller&#146;s and its
Affiliate&#146;s respective past, present and future directors, officers, employees, consultants, agents, shareholders, members and partners and each of the successors and assigns of any of the foregoing (collectively, &#147;<U>Seller Indemnified
Persons</U>&#148;) from and against any and all Covered Liabilities suffered or </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
incurred by a Seller Indemnified Person as a result of or arising out of (a)&nbsp;any inaccuracy or breach of any representation or warranty of Buyer in this Agreement or the officer&#146;s
certificate of Buyer referred to in <U>Section&nbsp;7.1(b)</U> (without giving effect, for purposes of calculating damages associated with any such inaccuracy, but not for purposes of determining any such inaccuracy, to any qualifier as to
materiality, material, material adverse effect, Material Adverse Effect or words of similar meaning set forth herein) and (b)&nbsp;any breach or nonperformance of any agreement or covenant expressly set forth in this Agreement on the part of Buyer.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.2 <U>Indemnification By Seller</U>. Subject to the provisions of <U>Sections 9.1(b)</U> and <U>11.4</U>, taking into account any amounts
reflected in Effective Time Net Working Capital so as to avoid any duplication or double recovery by Buyer, from and after the Closing, Seller shall indemnify, defend, hold harmless and reimburse Buyer, the Acquired Companies, and Buyer&#146;s, and
each Acquired Company&#146;s present and future directors, officers, employees, consultants, agents, shareholders, members and partners and each of the successors and assigns of any of the foregoing (collectively, &#147;<U>Buyer Indemnified
Persons</U>&#148;) from and against any and all Covered Liabilities suffered or incurred by a Buyer Indemnified Person as a result of or arising out of (a)&nbsp;any inaccuracy or breach of any representation or warranty of Seller in this Agreement
or Seller&#146;s Closing Certificate (without giving effect, for purposes of calculating damages associated with any such inaccuracy, but not for purposes of determining any such inaccuracy, to any qualifier as to materiality, material, material
adverse effect, Material Adverse Effect or words of similar meaning set forth herein); (b)&nbsp;any breach or nonperformance of any agreement or covenant on the part of Seller that is expressly set forth in this Agreement; (c)&nbsp;any and all
Seller Taxes; (d)&nbsp;any Action (i)&nbsp;set forth on <U>Schedule 4.2(e)</U>, other than Actions relating to the Offshore Legacy Assets only to the extent filed, or based upon events or conditions occurring, in each case, prior to April&nbsp;17,
2012 or (ii)&nbsp;against any of the Acquired Companies or their respective assets or properties that (A)&nbsp;is based upon events or conditions occurring prior to the Effective Date, (B)&nbsp;is not described in the immediately preceding clause
(i)&nbsp;and (C)&nbsp;is covered by insurance of Seller or its Affiliates; (e)&nbsp;any Royalties that have not been timely and fully paid and that are attributable to the Acquired Companies&#146; operation of any of their respective assets and
properties during the period ending on the Closing Date other than those relating to the operation of the Offshore Legacy Assets on or prior to April&nbsp;17, 2012; or (f)&nbsp;any fines or penalties imposed by any Governmental Authority and that
are attributable to the Acquired Companies&#146; operation of any of their respective assets and properties during the period ending on the Closing Date other than those relating to the operation of the Offshore Legacy Assets on or prior to
April&nbsp;17, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.3 <U>Indemnification and Defense Procedures</U>. Claims for indemnification under this Agreement shall be asserted
and resolved as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) If any Person who or which is entitled to seek indemnification under this Agreement (an &#147;<U>Indemnified
Party</U>&#148;) receives notice of the assertion or commencement of any claim asserted against an Indemnified Party by a third Person (&#147;<U>Third Party Claim</U>&#148;) in respect of any matter that is subject to indemnification under this
Agreement, the Indemnified Party shall promptly (i)&nbsp;notify the Party obligated to indemnify the Indemnified Party pursuant to this Agreement, (the &#147;<U>Indemnifying Party</U>&#148;) of the Third Party Claim and (ii)&nbsp;transmit to the
Indemnifying Party a written notice (&#147;<U>Claim Notice</U>&#148;) describing in reasonable detail the nature of the Third Party Claim, a copy of all papers served with respect to such claim (if any), the Indemnified Party&#146;s best estimate of
the amount of Covered Liabilities attributable to the Third Party Claim and the basis of the Indemnified Party&#146;s request for indemnification under this Agreement. Failure to timely provide such Claim Notice shall not affect the right of the
Indemnified Party&#146;s indemnification hereunder, except to the extent the Indemnifying Party is materially prejudiced by such delay or omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Indemnifying Party shall have the right to defend, at its sole cost and expense, the Indemnified Party against such Third Party Claim
with counsel selected by the Indemnifying Party (who </P>
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shall be reasonably satisfactory to the Indemnified Party), by all appropriate proceedings, to a final conclusion or settlement at the discretion of the Indemnifying Party in accordance with this
<U>Section&nbsp;11.3(b)</U>. The Indemnifying Party shall have full control of such defense and proceedings, including any compromise or settlement thereof; <I>provided</I> that the Indemnifying Party shall not enter into any settlement agreement
without the written consent of the Indemnified Party; <I>provided further</I>, that such consent shall not be required if (i)&nbsp;the settlement agreement contains a complete and unconditional general release by the third Person asserting the claim
to all Indemnified Parties affected by the claim, (ii)&nbsp;the settlement agreement does not contain any sanction or restriction upon the conduct of any business by the Indemnified Party or its Affiliates and (iii)&nbsp;the settlement agreement
does not create a financial or other obligation on the part of the Indemnified Party or any other Person other than the Indemnifying Party. If requested by the Indemnifying Party, the Indemnified Party agrees, at the sole cost and expense of the
Indemnifying Party, to cooperate with the Indemnifying Party and its counsel in contesting any Third Party Claim that the Indemnifying Party elects to contest, including the making of any reasonably related counterclaim against the Person asserting
the Third Party Claim or any cross complaint against any Person and making the books and records and personnel of the Indemnified Party reasonably available during normal business hours. The Indemnified Party may participate in, but not control, any
defense or settlement of any Third Party Claim controlled by the Indemnifying Party pursuant to this <U>Section&nbsp;11.3(b)</U>, and the Indemnified Party shall bear its own costs and expenses with respect to such participation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) If the Indemnifying Party does not admit (in writing) its obligation to indemnify the Indemnified Party pursuant to
<U>Section&nbsp;11.3(b)</U>, then the Indemnified Party shall have the right to defend, and be reimbursed for its reasonable cost and expense (but only if the Indemnified Party is actually entitled to indemnification hereunder) in regard to the
Third Party Claim with counsel selected by the Indemnified Party (who shall be reasonably satisfactory to the Indemnifying Party), by all appropriate proceedings, which proceedings shall be prosecuted diligently by the Indemnified Party. In such
circumstances, the Indemnified Party shall defend any such Third Party Claim in good faith and have full control of such defense and proceedings; <I>provided, however</I>, that the Indemnified Party may not enter into any compromise or settlement of
such Third Party Claim if indemnification is to be sought hereunder, without the Indemnifying Party&#146;s consent (which consent shall not be unreasonably withheld, conditioned or delayed). The Indemnifying Party may participate in, but not
control, any defense or settlement controlled by the Indemnified Party pursuant to this <U>Section&nbsp;11.3(c)</U>, and the Indemnifying Party shall bear its own costs and expenses with respect to such participation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Any claim by an Indemnified Party for indemnification under this Agreement that does not result from a Third Party Claim (a
&#147;<U>Direct Claim</U>&#148;) will be asserted by giving the Indemnifying Party reasonably written notice thereof within the time period described in <U>Section&nbsp;9.1</U>. Such notice by the Indemnified Party will describe the Direct Claim in
reasonable detail, will include copies of all available material written evidence thereof and will indicate the estimated amount, if reasonably practicable, of damages that has been or may be sustained by the Indemnified Party. The Indemnifying
Party will have a period of fifteen (15)&nbsp;Business Days within which to respond in writing to such Direct Claim whether or not such period extends beyond the applicable survival period set forth in <U>Section&nbsp;9.1</U> therefor. If the
Indemnifying Party does not so respond within such fifteen (15)&nbsp;Business Day period, the Indemnifying Party will be deemed to have rejected such claim, in which event the Indemnified Party will be free to pursue such remedies as may be
available to the Indemnified Party on the terms and subject to the provisions of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.4 <U>Seller&#146;s General Liability
Limitation</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Notwithstanding anything herein provided to the contrary, Seller shall have no liability to Buyer or any of the other
Buyer Indemnified Persons pursuant to <U>Section&nbsp;11.2(a)</U> for any breach of any of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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the representations and warranties (other than any of the Seller Fundamental Representations for which limitations set forth in this <U>Section&nbsp;11.4(a)</U> shall not apply) (or the
corresponding representations and warranties given in Seller&#146;s Closing Certificate), until and unless (i)&nbsp;any individual Covered Liability related to such breach exceeds $500,000 (such Covered Liability, a &#147;<U>DeMinimis
Claim</U>&#148;) and (ii)&nbsp;the aggregate amount of all Covered Liabilities attributable to any such breach of such representations or warranties that exceed the DeMinimis Claim amount collectively exceeds an amount equal to two percent
(2%)&nbsp;of the Adjusted Purchase Price (the &#147;<U>Deductible</U>&#148;) and then only to the extent that the amount of all such Covered Liabilities exceeds the Deductible. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding anything herein provided to the contrary, Seller shall have no liability to Buyer or any of the other Buyer Indemnified
Persons pursuant to <U>Section&nbsp;11.2(a)</U> for any breach of a representation or warranty by Seller (other than the Seller Fundamental Representations and the representations and warranties of Seller set forth in <U>Section&nbsp;4.2(r)</U> for
which limitations set forth in this <U>Section&nbsp;11.4(b)</U> shall not apply) (or the corresponding representations and warranties given in Seller&#146;s Closing Certificate), to the extent that the aggregate amount of all Covered Liabilities
attributable to any breach of such representations or warranties by Seller to which the Buyer Indemnified Persons are entitled to recover indemnification pursuant to <U>Section&nbsp;11.2</U> exceeds an amount equal to twenty percent (20%)&nbsp;of
the Adjusted Purchase Price. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding anything herein provided to the contrary, Seller shall have no liability to Buyer or any
other Buyer Indemnified Person (A)&nbsp;pursuant to <U>Section&nbsp;11.2</U> (or any other indemnity provisions set forth in this Agreement) to the extent that the aggregate amount of all Covered Liabilities to which the Buyer Indemnified Persons
are entitled to recover indemnification thereunder exceeds the Adjusted Purchase Price and (B)&nbsp;for any breach of the representation and warranty of Seller set forth in <U>Section&nbsp;4.2(r)(iii)</U> (or the corresponding representations and
warranties given in Seller&#146;s Closing Certificate) with respect to any Subject Well, Subject Unit or Subject Lease to the extent the amount of all Covered Liabilities attributable to such Subject Well, Subject Unit or Subject Lease, together
with all Covered Liabilities attributable to all other Subject Wells, Subject Units and Subject Leases located in or otherwise associated with the Subject Field in which the Subject Well, Subject Unit or Subject Lease is located, exceeds the
Allocated Value set forth on <U>Schedule 14.4</U> for the Subject Field in which the Subject Well, Subject Unit or Subject Lease is located. In addition to the foregoing, the Parties acknowledge and agree that, notwithstanding anything to the
contrary set forth herein, for purposes of calculating the amount of any Covered Liabilities associated with any breach of the representation and warranty of Seller set forth in <U>Section&nbsp;4.2(r)(iii)</U> (or the corresponding representations
and warranties given in Seller&#146;s Closing Certificate), the Parties shall multiply (1)&nbsp;the Allocated Value of the Subject Field set forth on <U>Schedule 14.4</U> in which the applicable Subject Well, Subject Unit or Subject Lease is located
by (2)&nbsp;the quotient (expressed as a decimal) obtained by dividing the Subject Well PV-10 Value of the applicable Subject Well (or, in the case of a breach of such representation and warranty with respect to any Subject Unit or Subject Lease,
the Subject Well located on such Subject Unit or Subject Lease) <I>by</I> the aggregate PV-10 Value of all Subject Wells included in such Subject Field. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding anything herein provided to the contrary, Seller shall only have liability to Buyer and/or any other Buyer Indemnified
Person pursuant to <U>Section&nbsp;11.2(d)(ii)</U> to the extent of (and only to the extent of) the amount of insurance proceeds (if any) that are actually received by Seller (or any Affiliate of Seller) under any insurance policy (or coverage)
described in <U>Section&nbsp;11.2(d)(ii)</U> with respect to any Action described in <U>Section&nbsp;11.2(d)(ii)</U>, net of all reasonable third party costs and expenses incurred by Seller or any of its Affiliates in collecting any such proceeds.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Notwithstanding anything herein provided to the contrary, Seller shall have no liability to make any payment to Buyer or any other
Buyer Indemnified Person pursuant to <U>Section&nbsp;11.2</U> (or any other indemnity provisions set forth in this Agreement) until such time as the Seller Assistance Period has </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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expired; <I>provided</I> that this provision is only intended to toll, but not eliminate the obligation of Seller to make such payments to Buyer or any other Buyer Indemnified Person pursuant to
<U>Section&nbsp;11.2</U>, which payments (to the extent required pursuant to <U>Section&nbsp;11.2</U>) shall be made within five (5)&nbsp;Business Days following the expiration of the Seller Assistance Period; <I>provided</I>, <I>further</I>, that
this provision shall not toll or otherwise delay any of the periods set forth in <U>Article 9</U> or <U>11</U> with regard to Buyer or any other Buyer Indemnified Person&#146;s right to indemnification under <U>Section&nbsp;11.2</U>. Further, this
<U>Section&nbsp;11.4(e)</U> shall not limit or otherwise affect the obligations of Seller under <U>Section&nbsp;11.3</U> and shall only operate to toll the payment of indemnified liabilities under <U>Section&nbsp;11.2</U>, but not the obligation to
defend or the payment of costs or expenses thereof as set forth in <U>Section&nbsp;11.3</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Each Buyer Indemnified Person shall be
required to use commercially reasonable efforts to mitigate Covered Liabilities with respect to which a claim for indemnification is made, including, in the case of Buyer (or any other Buyer Indemnified Person), applying against any Covered
Liability claimed under <U>Section&nbsp;11.2(e)</U> all suspended funds in its (or any Acquired Company&#146;s) possession that relate to the Royalty claim giving rise to such Covered Liability when such Acquired Company is permitted to do so under
Law or applicable contract. Notwithstanding anything to the contrary herein, the amount of any Covered Liabilities incurred or suffered by any Buyer Indemnified Person shall be calculated after giving effect to (i)&nbsp;any insurance proceeds (net
of costs incurred in prosecuting the insurance claim) actually received by the Buyer Indemnified Person (or any of its Affiliates) with respect to such Covered Liabilities and (ii)&nbsp;any recoveries actually obtained by the Buyer Indemnified
Person (or any of its Affiliates) from any other third Person. If any such proceeds, benefits or recoveries are received by a Buyer Indemnified Person (or any of its Affiliates) with respect to any Covered Liabilities after Seller has made a payment
to the Buyer Indemnified Person with respect thereto, the Buyer Indemnified Person (or such Affiliate) shall promptly pay to Seller the amount of such proceeds, benefits or recoveries (up to the amount of Buyer&#146;s payment). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Each Seller Indemnified Person shall be required to use commercially reasonable efforts to mitigate Covered Liabilities with respect to
which a claim for indemnification is made. Notwithstanding anything to the contrary herein, the amount of any Covered Liabilities incurred or suffered by any Seller Indemnified Person shall be calculated after giving effect to (i)&nbsp;any insurance
proceeds (net of costs incurred in prosecuting the insurance claim) actually received by the Seller Indemnified Person (or any of its Affiliates) with respect to such Covered Liabilities and (ii)&nbsp;any recoveries actually obtained by the Seller
Indemnified Person (or any of its Affiliates) from any other third Person. If any such proceeds, benefits or recoveries are received by a Seller Indemnified Person (or any of its Affiliates) with respect to any Covered Liabilities after Buyer has
made a payment to the Seller Indemnified Person with respect thereto, the Seller Indemnified Person (or such Affiliate) shall promptly pay to Buyer the amount of such proceeds, benefits or recoveries (up to the amount of Seller&#146;s payment).
Further, Seller agrees to use its commercially reasonable efforts to maintain the insurance coverages described in <U>Section&nbsp;11.2(d)(ii)</U> in place, and timely submit all claims upon notice from the Acquired Companies or Buyer, as
applicable, for any Actions subject to indemnification pursuant to <U>Section&nbsp;11.2(d)(ii)</U> and to cause the payment of all proceeds therefrom, subject to <U>Section&nbsp;11.4(d)</U>, to be paid to, or on behalf of, the Acquired Companies or
Buyer, it being understood and agreed that Seller (or its Affiliate) and Buyer shall (and Buyer shall cause the Acquired Companies to) cooperate in the defense and settlement of such Actions described in <U>Section&nbsp;11.2(d)(ii)</U>, which
settlement shall be subject to the mutual consent of Seller and Buyer, not to be unreasonably withheld, delayed or conditioned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.5
<U>Buyer&#146;s General Liability Limitation</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Notwithstanding anything herein provided to the contrary, except with respect to
breaches of Buyer Fundamental Representations for which the limitations set forth in this <U>Section&nbsp;11.5(a)</U> shall not apply, Buyer shall have no liability to Seller or any of the other Seller Indemnified Persons
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


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pursuant to <U>Section&nbsp;11.1(a)</U> for any breach of a representation or warranty by Buyer until and unless (i)&nbsp;any individual Covered Liability or group or series of related Covered
Liabilities covered by <U>Section&nbsp;11.1(a)</U> attributable to any breach by Buyer of this Agreement is not a DeMinimis Claim; <I>provided, however</I>, that any group or series of Covered Liabilities arising out of the same occurrence shall be
aggregated and treated as an individual Covered Liability for purposes of determining whether they are a DeMinimis Claim and (ii)&nbsp;the aggregate amount of all Covered Liabilities attributable to any breach of such representations or warranties
by Buyer in this Agreement exceeds the Deductible, and then only to the extent that the amount of such Covered Liabilities exceeds the Deductible. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding anything herein provided to the contrary, Buyer shall have no liability to Seller or any of the other Seller Indemnified
Persons for any breach of a representation or warranty by Buyer that is not a Buyer Fundamental Representation to the extent that the aggregate amount of all Covered Liabilities attributable to any breach of such representations or warranties by
Buyer to which the Seller Indemnified Persons shall be entitled to recover indemnification under <U>Section&nbsp;11.1</U> exceeds an amount equal to twenty (20%)&nbsp;of the Adjusted Purchase Price. In addition, Buyer shall have no liability to
Seller or any other Seller Indemnified Person for any breach of a representation or warranty by Buyer that is a Buyer Fundamental Representation to the extent that the aggregate amount of all Covered Liabilities attributable to any breach of the
representations or warranties by Buyer to which the Seller Indemnified Persons have recovered under <U>Section&nbsp;11.1</U> exceeds the Adjusted Purchase Price. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each Seller Indemnified Person shall be required to use commercially reasonable efforts to mitigate Covered Liabilities with respect to
which a claim for indemnification is made. Notwithstanding anything to the contrary herein, the amount of any Covered Liabilities incurred or suffered by any Seller Indemnified Person shall be calculated after giving effect to (i)&nbsp;any insurance
proceeds (net of costs incurred in prosecuting the insurance claim) actually received by the Seller Indemnified Person (or any of its Affiliates) with respect to such Covered Liabilities and (ii)&nbsp;any recoveries actually obtained by the Seller
Indemnified Person (or any of its Affiliates) from any other third Person. If any such proceeds or recoveries are received by a Seller Indemnified Person (or any of its Affiliates) with respect to any Covered Liabilities after Buyer has made a
payment to the Seller Indemnified Person with respect thereto, the Seller Indemnified Person (or such Affiliate) shall promptly pay to Buyer the amount of such proceeds, benefits or recoveries (up to the amount of Buyer&#146;s payment). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.6 <U>Exclusive Remedy</U>. The remedies provided in this <U>Article 11</U> shall be the sole and exclusive legal remedies of the Parties
(including any claims by, through, under or against the Acquired Companies), from and after the Closing, with respect to this Agreement and the transactions contemplated hereby; <I>provided </I>that nothing in this <U>Section&nbsp;11.6</U> shall
prevent, after Closing, either Party from seeking specific performance, injunctive and/or equitable relief for claims of breach or failure to perform covenants performable under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.7 <U>Buyer Knowledge</U>. Seller shall not be liable under this <U>Article 11</U> for any Covered Liabilities suffered or incurred by a Buyer
Indemnified Person as a result of or arising out of any inaccuracy or breach of any representation or warranty of Seller in this Agreement or Seller&#146;s Closing Certificate to the extent that such inaccuracy or breach was known, prior to the date
hereof, by Buyer or the relevant Buyer Indemnified Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11.8 <U>Tax Treatment of Indemnification Payments</U>. Except as otherwise
required by Law, any indemnification payments made pursuant to this Agreement between the Parties shall be treated as an adjustment to the Purchase Price for Tax purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>Section&nbsp;11.9 <U>Express Negligence</U>. <B>EXCEPT AS OTHERWISE PROVIDED IN <U>SECTION 5.1(A)</U>, THE DEFENSE, INDEMNIFICATION, HOLD HARMLESS,
RELEASE AND ASSUMED </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


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OBLIGATIONS PROVISIONS PROVIDED FOR IN THIS AGREEMENT SHALL BE APPLICABLE WHETHER OR NOT THE LIABILITIES, LOSSES, COSTS, EXPENSES AND DAMAGES IN QUESTION AROSE OR RESULTED SOLELY OR IN PART FROM
THE GROSS, SOLE, ACTIVE, PASSIVE, CONCURRENT OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT OR VIOLATION OF LAW OF OR BY ANY INDEMNIFIED PARTY. BUYER AND SELLER ACKNOWLEDGE THAT THIS STATEMENT COMPLIES WITH THE EXPRESS NEGLIGENCE RULE
AND IS &#147;<U>CONSPICUOUS</U>.&#148; </B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 12 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TERMINATION; REMEDIES </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.1
<U>Termination</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Termination of Agreement</U>. This Agreement and the transactions contemplated hereby may be terminated at any
time prior to the Closing: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) by the mutual written consent of Seller and Buyer; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) by either Party, if the Closing has not occurred by the close of business on or before March&nbsp;31, 2014 (as may be extended, the
&#147;<U>Drop-Dead Date</U>&#148;); <I>provided</I> that the right to terminate this Agreement under this <U>Section&nbsp;12.1(a)(ii)</U> shall not be available to any Party whose breach of any representation, warranty or covenant contained in this
Agreement shall have been the cause of, or shall have resulted in, the failure of the Closing to occur on or before the Drop-Dead Date; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) by Seller upon Buyer&#146;s (A)&nbsp;breach of any of its representations or warranties or (B)&nbsp;failure to comply with any of its
covenants or agreements contained herein, in each case, such that the either of the conditions to Closing set forth in <U>Section&nbsp;7.1(a)</U> shall not be satisfied by, or shall be incapable of being satisfied by, the Drop-Dead Date; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) by Buyer upon Seller&#146;s (A)&nbsp;breach of any of its representations or warranties or (B)&nbsp;failure to comply with any of its
covenants or agreements contained herein, in each case, such that the either of the conditions to Closing set forth in <U>Section&nbsp;7.2(a)</U> shall not be satisfied by, or shall be incapable of being satisfied by, the Drop-Dead Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Effect of Termination</U>. Without limiting Seller&#146;s and Buyer&#146;s respective remedies and rights in regard to the Deposit
under <U>Section&nbsp;12.2</U>, in the event of termination of this Agreement by Seller, on the one hand, or Buyer, on the other hand, pursuant to <U>Section&nbsp;12.1(a)</U>, written notice thereof shall forthwith be given by the terminating Party
to the other Party, and this Agreement shall thereupon terminate; <I>provided, however</I>, that following any termination of this Agreement, Buyer will continue to be bound by its obligations set forth in <U>Sections 5.1(a)(ii)</U>, <U>5.2</U> and
<U>6.3(c)</U>; <I>provided</I>,<I> further</I>, that (i)&nbsp;this <U>Section&nbsp;12.1(b)</U>, <U>Section&nbsp;10.3</U> and <U>Article 1</U> and <U>Article 13</U> will survive the termination of this Agreement and will remain in full force and
effect and (ii)&nbsp;subject to <U>Section&nbsp;12.2</U>, the termination of this Agreement will not relieve any Party from any liability for any breach of this Agreement occurring prior to termination. If this Agreement is terminated as provided
herein, all filings, applications and other submissions made to any Governmental Authority shall, to the extent practicable, be withdrawn from the Governmental Authority to which they were made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.2 <U>Remedies</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
<U>Seller&#146;s Remedies</U>. Notwithstanding anything herein provided to the contrary, upon Buyer&#146;s breach of any representation, warranty or covenant contained in this Agreement such that Seller
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
would be entitled to terminate this Agreement pursuant to <U>Section&nbsp;12.1(a)(iii)</U>, Seller may terminate this Agreement, retain the Deposit and, upon written notice from Seller to Buyer,
require Buyer to pay to Seller (within ten (10)&nbsp;Business Days of receipt of such notice) an amount equal to $75,000,000 (such amount, together with the amount of the Deposit, the &#147;<U>Termination Payment</U>&#148;), as liquidated damages,
as Seller&#146;s sole and exclusive remedies against Buyer and the Debt Providers for such breach, all other remedies (including the specific performance of any commitment letter or other documentation pursuant to which the Debt Providers have
committed to provide or cause to be provided debt financing in connection with the transactions contemplated hereby) being expressly waived by Seller in such event. Seller and Buyer agree upon the amount of the Termination Payment, as liquidated
damages, due to the difficulty and inconvenience of measuring actual damages and the uncertainty thereof, and Seller and Buyer agree that the Termination Amount is a reasonable estimate of Seller&#146;s loss in the event of any such default by
Buyer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Buyer&#146;s Remedies</U>. Notwithstanding anything herein to the contrary, upon Seller&#146;s breach of any
representation, warranty or covenant contained in this Agreement such that Buyer would be entitled to terminate this Agreement pursuant to <U>Section&nbsp;12.1(a)(iv)</U>, Buyer, at its sole option, may (i)&nbsp;enforce specific performance of this
Agreement or (ii)&nbsp;terminate this Agreement and receive back the entirety of the Deposit as Buyer&#146;s sole and exclusive remedy for such default, all other remedies being expressly waived by Buyer. In the event that this Agreement is
terminated under <U>Section&nbsp;12.1(a)</U> and Buyer is not entitled to retain the Deposit pursuant to the immediately preceding sentence, Seller shall be entitled to retain the entirety of the Deposit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Buyer&#146;s and Sellers&#146; Remedy</U>. Notwithstanding anything herein provided to the contrary, upon termination of this Agreement
by a Party pursuant to <U>Section&nbsp;12.1(a)(ii)</U>, Buyer shall receive back the entirety of the Deposit as the sole and exclusive remedy for failure to consummate the transactions contemplated hereby by the Drop-Dead Date, all other remedies
being expressly waived by the Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;12.3 <U>Return of Documentation and Confidentiality</U>. Upon termination of this Agreement, Buyer
shall return to Seller all title, engineering, geological and geophysical data, environmental assessments and/or reports, maps and other information furnished by Seller to Buyer or prepared by or on behalf of Buyer in connection with its due
diligence investigation of the Hydrocarbon Interests, in each case in accordance with the Confidentiality Agreement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 13 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MISCELLANEOUS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.1
<U>Counterparts</U>. This Agreement may be executed in one or more counterparts, either originally or by electronic reproduction, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts
have been signed by and delivered to each of the Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.2 <U>Governing Law; Jurisdiction; Process</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(a) <B>THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF TEXAS WITHOUT GIVING EFFECT TO PRINCIPLES THEREOF RELATING TO CONFLICTS OF LAW RULES THAT WOULD DIRECT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION (OTHER THAN AS CONTEMPLATED BY, AND EXCEPT TO THE EXTENT REQUIRED UNDER, ANY
COMMITMENT LETTER OR OTHER DOCUMENTATION PURSUANT TO WHICH THE DEBT PROVIDERS HAVE COMMITTED TO PROVIDE OR CAUSE TO BE PROVIDED DEBT FINANCING IN </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>
CONNECTION WITH THE TRANSACTIONS CONTEMPLATED HEREBY, WHICH WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK), EXCEPT THAT THE LAW OF ANOTHER JURISDICTION
SHALL APPLY TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY INSOFAR AS THIS AGREEMENT AND SUCH TRANSACTIONS COVER OR RELATE TO A PART OF THE HYDROCARBON INTERESTS OR ANY OTHER ASSETS OF THE ACQUIRED COMPANIES FOR WHICH IT IS MANDATORY
THAT THE LAW OF ANOTHER JURISDICTION, WHEREIN OR ADJACENT TO WHICH SUCH PART OF THE HYDROCARBON INTERESTS ARE LOCATED, SHALL APPLY. EACH PARTY HERETO WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY DISPUTE IN CONNECTION WITH OR RELATING TO THIS AGREEMENT
OR ANY MATTERS DESCRIBED OR CONTEMPLATED HEREIN AND AGREES TO TAKE ANY AND ALL ACTION NECESSARY OR APPROPRIATE TO EFFECT SUCH WAIVER. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(b) <B>SUBJECT TO THE PROVISIONS IN <U>SECTION 3.3</U>, BUYER AND SELLER CONSENT TO PERSONAL JURISDICTION IN ANY LEGAL ACTION, SUIT OR
PROCEEDING WITH RESPECT TO THIS AGREEMENT IN ANY COURT, FEDERAL OR STATE, WITHIN HARRIS COUNTY, TEXAS, HAVING SUBJECT MATTER JURISDICTION AND WITH RESPECT TO ANY SUCH CLAIM, BUYER AND SELLER IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW,
ANY CLAIM, OR ANY OBJECTION THAT BUYER OR SELLER MAY NOW OR HEREAFTER HAVE, THAT VENUE OR JURISDICTION IS NOT PROPER WITH RESPECT TO ANY SUCH LEGAL ACTION, SUIT OR PROCEEDING BROUGHT IN SUCH COURT IN HARRIS COUNTY, TEXAS, INCLUDING ANY CLAIM THAT
SUCH LEGAL ACTION, SUIT OR PROCEEDING BROUGHT IN SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM AND ANY CLAIM THAT BUYER OR SELLER IS NOT SUBJECT TO PERSONAL JURISDICTION OR SERVICE OF PROCESS IN HARRIS COUNTY, TEXAS. BUYER AND SELLER AGREE
THAT EXCEPT WITH REGARD TO ACTIONS FOR ENFORCEMENT OF A JUDGMENT, (i)&nbsp;THE FEDERAL OR STATE COURTS WITHIN HARRIS COUNTY, TEXAS WILL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE DISPUTES ARISING OUT OF OR RELATING IN ANY WAY TO THIS
AGREEMENT, AND (ii)&nbsp;NO ACTION OR PROCEEDING WILL BE FILED IN ANY OTHER COURT. NOTWITHSTANDING THE FOREGOING, EACH OF THE PARTIES AGREES THAT IT WILL NOT BRING OR SUPPORT ANY ACTION, CAUSE OF ACTION, CLAIM, CROSS-CLAIM OR THIRD PARTY CLAIM OF
ANY KIND OR DESCRIPTION, WHETHER IN LAW OR IN EQUITY, AGAINST THE DEBT PROVIDERS IN ANY WAY RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING ANY DISPUTE ARISING OUT OF OR RELATING IN ANY WAY TO ANY COMMITMENT LETTER OR
OTHER DOCUMENTATION PURSUANT TO WHICH THE DEBT PROVIDERS HAVE COMMITTED TO PROVIDE OR CAUSE TO BE PROVIDED DEBT FINANCING IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED HEREBY OR THE PERFORMANCE THEREOF, IN ANY FORUM OTHER THAN THE SUPREME COURT
OF THE STATE OF NEW YORK, COUNTY OF NEW YORK, OR, IF UNDER APPLICABLE LAW EXCLUSIVE JURISDICTION IS VESTED IN THE FEDERAL COURTS, THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK (AND APPELLATE COURTS THEREOF). </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.3 <U>Entire Agreement</U>. This Agreement (including the Confidentiality Agreement) and the Schedules (including amendments and supplements
thereto) and Exhibits hereto contain the entire agreement between the Parties with respect to the subject matter hereof and there are no agreements, understandings, representations or warranties between the Parties other than those set forth or
referred to herein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.4 <U>Expenses</U>. Except as otherwise expressly provided in this Agreement, all costs and
expenses incurred by the Parties hereto in connection with the transactions contemplated by this Agreement shall be borne solely and entirely by the Party that has incurred such expenses. The foregoing notwithstanding, the Parties agree to split
equally the filing fee associated with any filing under the HSR Act to be paid in connection with such filing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.5 <U>Notices</U>. Unless
otherwise expressly provided in this Agreement, all notices and consents required or permitted hereunder shall be in writing and deemed sufficiently given for all purposes hereof if (i)&nbsp;delivered in person, by courier or by registered or
certified United States Mail to the Person to be notified, with receipt obtained, or (ii)&nbsp;sent by facsimile or electronic transmission (with confirmed receipt in the case of electronic transmission), in each case to the appropriate address or
number as set forth below. Each notice shall be deemed effective on receipt by the addressee as aforesaid; <I>provided</I> that, notice received by facsimile or electronic transmission after 5:00 p.m. at the location of the addressee of such notice
shall be deemed received on the first Business Day following the date of such electronic receipt. Notices to Seller shall be addressed to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">SandRidge Holdings, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">123
Robert S. Kerr Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Oklahoma City, OK 73102-6406 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention: Philip T. Warman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Facsimile No.: 405-429-5983 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">with
copies to (which shall not constitute notice to Seller): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Vinson&nbsp;&amp; Elkins LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">1001 Fannin Street, Suite 2500 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Houston, TX 77002-6760 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention: Douglas S. Bland and Elizabeth G. Radack </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Facsimile No.: 713-615-5731 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">or at such other
address or to such other facsimile or electronic transmission number and to the attention of such other Person as Seller may designate by written notice to Buyer. Notices to Buyer and, after the Closing, the Acquired Companies shall be addressed to:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Fieldwood Energy LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">2000
West Sam Houston Pkwy S., Suite 1200 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Houston, TX 77042 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention: John H. Smith and the General Counsel </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Facsimile No.: 713-969-1099 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">with
copies to (which shall not constitute notice to Buyer): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Thompson&nbsp;&amp; Knight LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">333 Clay Street, Suite 3300 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Houston, TX 77002 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention:
Timothy T. Samson </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Facsimile No.: 713-654-1871 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">or at such other address or to such other facsimile or electronic transmission number and to the attention of
such other Person as Buyer may designate by written notice to Seller. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.6 <U>Successors and Assigns</U>. This Agreement shall be binding
upon and inure to the benefit of the Parties and their respective successors and assigns; <I>provided</I> that, prior to Closing, the respective rights and obligations of the Parties shall not be assignable or delegable by any Party without the
express written consent of the non-assigning or non-delegating Party; <I>provided, however</I>, that no such assignment shall relieve such Party of its obligations hereunder in the event of the failure of performance by such assignee. After the
Closing, any Party may assign all or a part of its rights under this Agreement, but such assignment shall not relieve such assigning Party of any of its obligations and responsibilities to the non-assigning Party unless expressly released from same
in writing by such non-assigning Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.7 <U>Amendments and Waivers</U>. This Agreement may not be modified or amended except by an
instrument or instruments in writing signed by the Party against whom enforcement of any such modification or amendment is sought. Any Party may, only by an instrument in writing, waive compliance by another Party with any term or provision of this
Agreement on the part of such other Party to be performed or complied with. The waiver by any Party of a breach of any term or provision of this Agreement shall not be construed as a waiver of any subsequent breach. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.8 <U>Schedules and Exhibits</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) All Schedules (including amendments and supplements thereto) and Exhibits hereto that are referred to herein are hereby made a part of
this Agreement and incorporated herein by such reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Unless the context otherwise requires, all capitalized terms used in the
Schedules (including amendments and supplements thereto) and Exhibits hereto shall have the respective meanings assigned in this Agreement or <U>Exhibit A</U>. Any matter, information or item disclosed in the Schedules (including amendments and
supplements thereto) and Exhibits hereto, under any specific representation or warranty, shall be deemed to have been disclosed for all purposes of this Agreement in response to every representation or warranty in this Agreement to which the
relevance of such disclosure is reasonably apparent on its face. The inclusion of any matter, information or item in any Schedule (including amendments and supplements thereto) or Exhibit hereto shall not be deemed to constitute an admission of any
liability by Seller or the Acquired Companies to any third Person or otherwise imply that any such matter, information or item is material or creates a measure for materiality for the purposes of this Agreement. No disclosure in the Schedules
(including amendments and supplements thereto) and Exhibits hereto relating to any possible breach or violation of any agreement or Law shall be construed as an admission or indication that any such breach or violation exists or has actually
occurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.9 <U>Agreement for the Parties&#146; Benefit Only</U>. Except as provided in <U>Article 11</U>, this Agreement is for the sole
benefit of Buyer, Seller and their respective successors and assigns as permitted herein and no other Person shall be entitled to enforce this Agreement, rely on any representation, warranty, covenant or agreement contained herein, receive any
rights hereunder or be a third party beneficiary of this Agreement. Notwithstanding the foregoing, the Debt Providers shall be deemed third party beneficiaries of <U>Sections 12.2(a)</U> and <U>13.2</U> and this <U>Section&nbsp;13.9</U> hereof, each
of which shall be enforceable by each Debt Provider and none of which shall be amended or otherwise modified in any way that adversely affects the rights of any Debt Provider without the prior written consent of the Debt Providers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;13.10 <U>Severability</U>. If any term, provision or condition of this Agreement, or any application thereof, is held invalid, illegal or
unenforceable in any respect under any Law, this Agreement shall be reformed to the extent necessary to conform, in each case consistent with the intention of the Parties, to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
such Law, and to the extent such term, provision or condition cannot be so reformed, then such term, provision or condition (or such invalid, illegal or unenforceable application thereof) shall
be deemed deleted from (or prohibited under) this Agreement, as the case may be, and the validity, legality and enforceability of the remaining terms, provisions and conditions contained herein (and any other application of such term, provision or
condition) shall not in any way be affected or impaired thereby. Upon such determination that any term or other provision or condition is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SIGNATURE PAGE FOLLOWS </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement as of the date first written
above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>SELLER:</B></P></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">SANDRIDGE HOLDINGS, INC.</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">/s/ James D. Bennett</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">James D. Bennett</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">CEO and President</TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">SANDRIDGE ENERGY, INC.</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">/s/ James D. Bennett</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">James D. Bennett</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">CEO and President</TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BUYER:</B></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">FIELDWOOD ENERGY LLC</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">/s/ G.M. McCarroll</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">G.M. McCarroll</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">CEO</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>IGNATURE</SMALL> P<SMALL>AGE</SMALL> <SMALL>TO</SMALL> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E<SMALL>QUITY</SMALL> P<SMALL>URCHASE</SMALL> A<SMALL>GREEMENT</SMALL> </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>DEFINITIONS </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Accountant</U>&#148; shall be as defined in <U>Section&nbsp;3.3(b)(ii)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquired Company</U>&#148; and &#147;<U>Acquired Companies</U>&#148; shall mean SandRidge Onshore, SandRidge Offshore, SandRidge
Energy Offshore, Galveston Bay Pipeline Company, a Delaware corporation, Galveston Bay Processing Corporation, a Delaware corporation, DBH, LLC, a Delaware limited liability company, Bandon Oil and Gas GP, LLC, a Delaware limited liability company,
Bandon Oil and Gas, LP, a Delaware limited partnership, Dynamic Offshore Resources NS Acquisition, Inc., a Delaware corporation, Dynamic Offshore Resources NS Parent, Inc., a Delaware corporation, Dynamic Offshore Resources NS, LLC, a Texas limited
liability company, and SPN Resources, LLC, a Louisiana limited liability company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Action</U>&#148; shall mean any action, suit
or other proceeding by or before any court or other Governmental Authority or any arbitration proceeding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ADADP</U>&#148; shall
be as defined in <U>Section&nbsp;6.12(h)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Adjusted Purchase Price</U>&#148; shall be as defined in <U>Section&nbsp;3.1</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Adjustment Notice</U>&#148; shall be as defined in <U>Section&nbsp;3.3(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AFEs</U>&#148; shall be as defined in <U>Section&nbsp;4.2(w)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; shall mean, as to the Person specified, any Person controlling, controlled by or under common control with such
specified Person, with &#147;<U>control</U>,&#148; &#147;<U>controlling</U>&#148; or &#147;<U>controlled</U>&#148; (as used in the foregoing definition) meaning the possession, directly or indirectly, of the power to direct or cause the direction of
the management and policies of another, whether through the ownership of voting securities, by contract or otherwise;<I> provided, however</I>, that, notwithstanding the foregoing, for purposes of this Agreement, none of the following Persons shall
be considered an Affiliate of Buyer: (i)&nbsp;Riverstone Global Energy and Power Fund V, L.P., (ii)&nbsp;any Person that directly or indirectly owns any interest in Riverstone Global Energy and Power Fund V, L.P., (iii)&nbsp;any Person (other than
Buyer and its subsidiaries) in which Riverstone Global Energy and Power Fund V, L.P. or any Person described in the foregoing clause (ii), in each case, directly or indirectly owns any interest and (iv)&nbsp;any director, officer, employee,
representative and/or agent of any of the Persons described in any of the foregoing clauses (i), (ii)&nbsp;and (iii). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate
Transactions</U>&#148; shall be defined as in <U>Section&nbsp;4.2(p)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agreed Rate</U>&#148; shall mean an annual rate of
interest equal to four percent (4%). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agreement</U>&#148; shall be as defined in the preamble hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AGUB</U>&#148; shall be as defined in <U>Section&nbsp;6.12(h)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Allocable Amount</U>&#148; shall be as defined in <U>Section&nbsp;6.12(g)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Allocated Value</U>&#148; means, with respect to each Subject Field set forth on <U>Schedule 14.4</U>, the amount allocated to such
Subject Field therein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Allocation Schedule</U>&#148; shall be as defined in <U>Section&nbsp;6.12(g)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assets</U>&#148; shall mean (a)&nbsp;all Current Assets, (b)&nbsp;all oil and natural gas properties included in the Hydrocarbon
Interests, net of accumulated depreciation, depletion, amortization and impairment, (c)&nbsp;all other property, plant and equipment owned (or otherwise held) by the Acquired Companies, net of accumulated depreciation and (d)&nbsp;all restricted
deposits, intercompany investments and other net assets, in each case, of the Acquired Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assignment</U>&#148; shall be
as defined in <U>Section&nbsp;8.2(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>BOEM</U>&#148; shall mean the Bureau of Ocean Energy Management. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Day</U>&#148; shall mean any day which is not a Saturday, Sunday or legal holiday recognized by the State of Texas or
Oklahoma. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Buyer</U>&#148; shall be as defined in the preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Buyer BOEM Indemnity</U>&#148; shall be as defined in <U>Section&nbsp;6.10(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Buyer Fundamental Representations</U>&#148; shall mean the representations and warranties set forth in <U>Sections 4.3(a)</U>,
<U>(b)</U>, <U>(c)</U>, <U>(g)</U>&nbsp;and <U>(h)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Buyer Indemnified Persons</U>&#148; shall be as defined in
<U>Section&nbsp;11.2</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Casualty Loss</U>&#148; means any loss or damage (including additional costs associated with plugging
and abandonment) occurring between the Effective Date and the Closing that is attributable to, arises out of or relates to any Hydrocarbon Interests, wells and Facilities that are (a)&nbsp;damaged, destroyed or made unavailable or unusable for the
intended purpose by fire, act of God, explosion, collision, earthquake, windstorm or other casualty or (b)&nbsp;taken in condemnation or under right of eminent domain. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Claim Notice</U>&#148; shall be as defined in <U>Section&nbsp;11.3(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing</U>&#148; shall be the consummation of the transaction contemplated by <U>Article 8</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date</U>&#148; shall be as defined in <U>Section&nbsp;8.1</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Payment</U>&#148; shall be as defined in <U>Section&nbsp;3.3(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Code</U>&#148; shall mean the Internal Revenue Code of 1986, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Company Benefit Plan</U>&#148; shall mean any Employee Benefit Plan that is sponsored, maintained or contributed to solely by one or
more Acquired Companies or any of their respective subsidiaries for the benefit of their current or former employees. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Confidentiality Agreement</U>&#148; shall be as defined in <U>Section&nbsp;5.2</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Group</U>&#148; means any affiliated, combined, consolidated, unitary or similar group with respect to any Taxes,
including any affiliated group within the meaning of Section&nbsp;1504 of the Code electing to file consolidated federal income Tax Returns and any similar group under foreign, state or local law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Covered Liabilities</U>&#148; shall mean any and all debts, losses, liabilities
(including strict liabilities), obligations, duties, fines, damages, claims, causes of action, Taxes, costs and expenses (including those arising out of any demand, assessment, settlement, judgment or compromise relating to any actual or threatened
Action and any court or arbitral panel costs, reasonable fees and expenses of expert witnesses, reasonable investigative expenses, reasonable fees and disbursements of legal counsel and other reasonable legal and investigative fees and expenses
incurred in investigating, preparing or defending any Action), matured or unmatured, absolute or contingent, accrued or unaccrued, liquidated or unliquidated, known or unknown, including any of the foregoing arising under, out of or in connection
with any actual or threatened Action, any order or consent decree of any Governmental Authority, any award of any arbitrator, or any Law (including Environmental Laws), contract, commitment or undertaking. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Current Assets</U>&#148; shall mean cash and cash equivalents, deposits and prepaid expenses, revenue receivables and other
receivables, that are reasonably expected to be realized in cash or sold or consumed in the ordinary course of business, in each case determined using the same accounting methods, practices, principles, policies and procedures, with consistent
classifications, judgments and valuation and estimation methodologies that were used in the preparation of the Financial Information; <I>provided</I> that the &#147;Current Assets&#148; shall not include (a)&nbsp;any Income Tax assets, (b)&nbsp;any
of the Indebtedness described in <U>Section&nbsp;6.15</U>, (c)&nbsp;any prepaid expenses that do not relate to corresponding obligations of the Acquired Companies after the Closing, including any prepaid insurance amounts or (d)&nbsp;any reserves
relating to any asset retirement obligations that are excluded under the definition of &#147;Current Liabilities.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Current
Liabilities</U>&#148; shall mean trade account payables, current tax payables, accrued liabilities, oil and gas payables and other liabilities, that are reasonably expected to become due within one year for known obligations, in each case determined
using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies that were used in the preparation of the Financial Information; <I>provided</I>
that the &#147;Current Liabilities&#148; shall not include (a)&nbsp;any Income Tax liabilities, (b)&nbsp;any of the Indebtedness described in <U>Section&nbsp;6.15</U> or (c)&nbsp;any asset retirement obligations of any of the Acquired Companies.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Customary Post-Closing Consents</U>&#148; shall mean the consents and approvals from Governmental Authorities for the assignment
of the Hydrocarbon Interests (or any other assets of the Acquired Companies) and (if applicable) the Purchased Equity to Buyer that are customarily obtained after the assignment of properties similar to the Hydrocarbon Interests (or any such other
assets) and the Purchased Equity, including consents or approvals of (or filings with) the BOEM. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Debt Provider</U>&#148; shall
mean any financial institution (including any Affiliates thereof and their permitted successors and assigns) that provides, or commits to provide, debt financing to Buyer in connection with the transactions contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Deductible</U>&#148; shall be as defined in <U>Section&nbsp;11.4(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>DeMinimis Claims</U>&#148; shall be as defined in <U>Section&nbsp;11.4(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Deposit</U>&#148; shall be as defined in <U>Section&nbsp;3.2</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Determination Date</U>&#148; shall be as defined in <U>Section&nbsp;3.3(b)(ii)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Direct Claim</U>&#148; shall be as defined in <U>Section&nbsp;11.3(d)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Drop-Dead Date</U>&#148; shall be as defined in <U>Section&nbsp;12.1(a)(ii)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Effective Time</U>&#148; shall mean 12:01 a.m., Houston Time, on December&nbsp;1, 2013.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Effective Time Net Working Capital</U>&#148; shall mean an amount equal to the amount of the Current Assets <I>less</I> the
Current Liabilities as of the Effective Time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Electing Companies</U>&#148; shall mean Galveston Bay Pipeline Company, Galveston
Bay Processing Corporation, Dynamic Offshore Resources NS Acquisition, Inc. and Dynamic Offshore Resources NS Parent, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Employee Benefit Plan</U>&#148; shall mean any (a)&nbsp;employee pension benefit plan (as described in Section&nbsp;3(2) of ERISA),
(b)&nbsp;employee welfare benefit plan (as described in Section&nbsp;3(1) of ERISA) or (c)&nbsp;bonus, deferred compensation, incentive compensation, stock option or equity or equity-based, severance, termination pay, retention, unemployment
compensation, vacation pay, change in control, fringe benefit or other benefit plan, program, policy or arrangement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Encumbrance</U>&#148; shall mean any security interest, deed of trust, mortgage, pledge or other similar lien or charge. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Environmental Laws</U>&#148; shall mean any and all Laws pertaining to prevention of pollution, protection of the environment
(including natural resources), remediation of contamination, or workplace health and safety, including the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. &#167; 9601 et seq.; the Resource Conservation and Recovery
Act, 42 U.S.C. &#167; 6901 et seq.; the Federal Water Pollution Control Act, 33 U.S.C. &#167; 1251 et seq.; the Clean Air Act, 42 U.S.C. &#167; 7401 et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. &#167; 1471 et seq.; the Toxic
Substances Control Act, 15 U.S.C. &#167;&#167; 2601 through 2629; the Oil Pollution Act, 33 U.S.C. &#167; 2701 et seq.; the Emergency Planning and Community Right-to-Know Act, 42 U.S.C. &#167; 11001 et seq.; the Safe Drinking Water Act, 42 U.S.C.
&#167;&#167; 300f through 300j; the Occupational Safety and Health Act, 29 U.S.C. &#167; 651 et seq.; and all similar Laws of any Governmental Authority having jurisdiction over the Acquired Companies, all amendments to such Laws, and all
regulations implementing any of the foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA</U>&#148; means the Employee Retirement Income Security Act of 1974, as
amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Facilities</U>&#148; shall mean all platforms and shore-based production facilities located on or associated with the
Hydrocarbon Interests. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FERC</U>&#148; means the Federal Energy Regulatory Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Financial Information</U>&#148; shall be as defined in <U>Section&nbsp;4.2(n)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Flow-Through Entities</U>&#148; shall be as defined in <U>Section&nbsp;6.12(g)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; shall mean U.S. generally accepted accounting principles, as recognized by the U.S. Financial Accounting Standards
Board (or any generally recognized successor). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Governmental Authority</U>&#148; shall mean any federal, state, local, municipal,
tribal or other government; any governmental, regulatory or administrative agency, commission, body or other authority exercising or entitled to exercise any administrative, executive, judicial, legislative, regulatory or Taxing authority or power,
and any court or governmental tribunal, including any tribal authority having or asserting jurisdiction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hazardous Substance</U>&#148; means and includes each substance or material defined,
designated or classified as a hazardous waste, hazardous substance, hazardous material, solid waste, pollutant, contaminant or toxic substance under any Environmental Law, and any petroleum or petroleum products that have been Released into the
environment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>highest</U>&#148; when used in <U>Section&nbsp;4.2(r)(iii)</U> and the definition of &#147;Permitted
Encumbrances&#148; with respect to a Subject Well, refers to Subject Well with the highest percentage Net Revenue Interest set forth on <U>Schedule 14.4</U>; <I>provided</I>, <I>however</I>, that, (a)&nbsp;with respect to the Subject Well with the
&#147;Well Name&#148; &#147;San Leon GU 1 B1&#148;, the &#147;highest&#148; Net Revenue Interest (with respect to such Subject Well) shall be the Net Revenue Interest set forth for such Subject Well in the &#147;NRI APO&#148; column on <U>Schedule
14.4</U>, (b)&nbsp;with respect to the Subject Well with the &#147;Well Name&#148; &#147;Traylor 6&#148;, the &#147;highest&#148; Net Revenue Interest (with respect to such Subject Well) shall be the Net Revenue Interest set forth for such Subject
Well in the &#147;NRI APO&#148; column on <U>Schedule 14.4</U>, (c)&nbsp;with respect to the Subject Well with the &#147;Well Name&#148; &#147;F W Neuhaus 8&#148;, the &#147;highest&#148; Net Revenue Interest (with respect to such Subject Well)
shall be the Net Revenue Interest set forth for such Subject Well in the &#147;NRI APO&#148; column on <U>Schedule 14.4</U>, (d)&nbsp;with respect to the Subject Well with the &#147;Well Name&#148; &#147;EI77 8 WWS&#148;, the &#147;highest&#148; Net
Revenue Interest (with respect to such Subject Well) shall be the Net Revenue Interest set forth for such Subject Well in the &#147;NRI APO&#148; column on <U>Schedule 14.4</U> and (e)&nbsp;with respect to the Subject Well with the &#147;Well
Name&#148; &#147;ST904 4 F2B&#148;, the &#147;highest&#148; Net Revenue Interest (with respect to such Subject Well) shall be the Net Revenue Interest set forth for such Subject Well in the &#147;NRI APO&#148; column on <U>Schedule 14.4</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>HSR Act</U>&#148; shall mean the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations
promulgated thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hydrocarbon Interests</U>&#148; shall mean any Lease or Unit, in each case, owned by any of the Acquired
Companies as of the Effective Time and as of the Closing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hydrocarbons</U>&#148; shall mean oil and gas and other hydrocarbons
in association therewith (whether or not such item is in liquid or gaseous form), or any combination thereof, and any minerals produced in association therewith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Imbalance</U>&#148; shall mean over-production or under-production or over-deliveries or under-deliveries with respect to oil or gas
produced from or allocated to the Hydrocarbon Interests, regardless of whether such over-production or under-production or over-deliveries or under-deliveries arise at the platform, well, pipeline, gathering system, transportation system or other
location. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Income Tax</U>&#148; means any income, franchise or similar Tax. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indebtedness</U>&#148; shall mean all obligations to any Person for borrowed money, including (a)&nbsp;any obligation to reimburse
any bank or other Person in respect of amounts paid or payable under any credit agreement or a standby letter of credit or (b)&nbsp;any guaranty with respect to indebtedness for borrowed money of another Person; <I>provided, however</I>, that
Indebtedness shall expressly exclude trade payables, purchase money security interests and other similar indebtedness incurred in the ordinary course of business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnified Party</U>&#148; shall be as defined in <U>Section&nbsp;11.3(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnifying Party</U>&#148; shall be as defined in <U>Section&nbsp;11.3(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Insolvent</U>&#148; shall mean a financial condition such that the sum of such
Person&#146;s debts is greater than all of such Person&#146;s property, at a fair valuation, after giving effect to the transactions contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Insurance Policies</U>&#148; shall be as defined in <U>Section&nbsp;4.2(y)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Knowledge of Buyer</U>&#148; shall mean actual knowledge of G.M. McCarroll, Howard M. Tate and John H. Smith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Knowledge of Seller</U>&#148; shall mean actual knowledge of John Jo, Bernie McCormick, James Brokmeyer and Jim Crocker, and for
solely for the purposes of <U>Section&nbsp;4.1</U>, shall also include James D. Bennett. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Law</U>&#148; shall mean any applicable
statute, law (including common law), ordinance, regulation, rule, ruling, order, writ, injunction, decree or other official act of or by any Governmental Authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Leases</U>&#148; shall mean (a)&nbsp;leases (or assignments thereof) affecting, relating to or covering any Hydrocarbons in place and
the leasehold interests and estates in the nature of working or operating interests under such leases, as well as overriding royalties, net profits interests, production payments, carried interests, rights of recoupment and other interests in, under
or relating to such leases, (b)&nbsp;fee interests in Hydrocarbons in place, (c)&nbsp;royalty interests in Hydrocarbons in place, (d)&nbsp;any other interest in Hydrocarbons in place and (e)&nbsp;any economic or contractual rights, options or
interests in and to any of the foregoing, including any farmout or farmin agreement or production payment affecting any interest or estate in Hydrocarbons in place. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Liabilities</U>&#148; shall mean (a)&nbsp;all Current Liabilities, (b)&nbsp;all asset retirement obligations with respect to the
Hydrocarbon Interests, (c)&nbsp;all other long-term obligations and (d)&nbsp;all stockholders&#146; equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Liens</U>&#148;
shall mean any security interest, deed of trust, mortgage, pledge, lien, charge, claim, easement, covenant, community property interest, equitable interest, right of first refusal, or restriction of any kind, including any restriction on use,
voting, transfer, receipt of income, or exercise of any other attribute of ownership. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>lowest</U>&#148; when used in
<U>Section&nbsp;4.2(r)(iii)</U> and the definition of &#147;Permitted Encumbrances&#148; with respect to a Subject Well, refers to Subject Well with the lowest percentage Working Interest set forth on <U>Schedule 14.4</U>; <I>provided</I>,
<I>however</I>, that, (a)&nbsp;with respect to the Subject Well with the &#147;Well Name&#148; &#147;San Leon GU 1 B1&#148;, the &#147;lowest&#148; Working Interest (with respect to such Subject Well) shall be the Working Interest set forth for such
Subject Well in the &#147;WI APO&#148; column on <U>Schedule 14.4</U>, (b)&nbsp;with respect to the Subject Well with the &#147;Well Name&#148; &#147;Traylor 6&#148;, the &#147;lowest&#148; Working Interest (with respect to such Subject Well) shall
be the Working Interest set forth for such Subject Well in the &#147;WI APO&#148; column on <U>Schedule 14.4</U>, (c)&nbsp;with respect to the Subject Well with the &#147;Well Name&#148; &#147;F W Neuhaus 8&#148;, the &#147;lowest&#148; Working
Interest (with respect to such Subject Well) shall be the Working Interest set forth for such Subject Well in the &#147;WI APO&#148; column on <U>Schedule 14.4</U>, (d)&nbsp;with respect to the Subject Well with the &#147;Well Name&#148; &#147;EI77
8 WWS&#148;, the &#147;lowest&#148; Working Interest (with respect to such Subject Well) shall be the Working Interest set forth for such Subject Well in the &#147;WI APO&#148; column on <U>Schedule 14.4</U> and (e)&nbsp;with respect to the Subject
Well with the &#147;Well Name&#148; &#147;ST904 4 F2B&#148;, the &#147;lowest&#148; Working Interest (with respect to such Subject Well) shall be the Working Interest set forth for such Subject Well in the &#147;WI APO&#148; column on <U>Schedule
14.4</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Adverse Effect</U>&#148; means any event, effect, change, fact, development or circumstance, individually or
in the aggregate, that has or would reasonably be expected to have, a material adverse effect on (a)&nbsp;the business, assets, liabilities, properties, financial condition or results of operations of the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Acquired Companies, the Hydrocarbon Interests or any other assets of the Acquired Companies or (b)&nbsp;the ability of Seller to perform its obligations under this Agreement or to consummate the
transactions contemplated hereby; <I>provided, however</I>, that a Material Adverse Effect shall not take into account any event, effect, change, fact or circumstance arising from or primarily relating to (i)&nbsp;changes in the state of the energy
industry generally (including any change in the price of oil, natural gas, natural gas liquids or other Hydrocarbons) but that do not have a disproportionate impact on the business of such Person, (ii)&nbsp;changes in United States or global
economic conditions or financial, banking, or securities markets (including any disruption thereof) in general, (iii)&nbsp;changes in national or international political or social conditions, including any engagement in hostilities, whether or not
pursuant to the declaration of a national emergency or war, or the occurrence of any military or terrorist attack, (iv)&nbsp;changes in GAAP or Law (or any interpretation thereof), including any changes in the deductibility of drilling, completion
or operating costs or other Taxes, (v)&nbsp;the announcement of the execution of this Agreement or the proposed or actual consummations of the transactions contemplated hereby, (vi)&nbsp;failure alone to meet internal forecasts or estimates of
revenues, earnings or other financial metrics for any period (<I>provided</I> that the underlying reasons for such failure shall be taken into account in determining whether there has been a Material Adverse Effect), (vii)&nbsp;any reclassification
of reserves in the ordinary course of business, or (viii)&nbsp;the actual or estimated (as determined by any applicable well logs, well tests, flow tests or other measurements) rates of production of Hydrocarbons (or lack thereof) for any well being
drilled as of the date hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Contract</U>&#148; shall be as defined in <U>Section&nbsp;4.2(i)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>MSA</U>&#148; or &#147;<U>MSAs</U>&#148; shall be as defined in <U>Section&nbsp;6.18</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Revenue Interest</U>&#148; shall mean, with respect to each Subject Well, Subject Unit or Subject Lease, as applicable, the
interest in and to all Hydrocarbons produced, saved and sold from or allocated to such Subject Well, Subject Unit or Subject Lease, as applicable, after giving effect to all royalties, overriding royalties, production payments, carried interests,
net profits interests, reversionary interests and other similar burdens upon, measured by, or payable out of production therefrom. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NGA</U>&#148; means the Natural Gas Act of 1938, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NGPA</U>&#148; means the Natural Gas Policy Act of 1978, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Offshore Legacy Assets</U>&#148; shall mean those assets and properties owned by SandRidge Energy Offshore (formerly known as Dynamic
Offshore Resources, LLC) and its subsidiaries as of April&nbsp;17, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ORRI Conveyances</U>&#148; means those certain
Conveyances of Overriding Royalty Interest, dated as of the Closing Date, by and between Buyer, as assignor, and SandRidge Exploration and Production, LLC, as assignee, substantially in the forms attached hereto as <U>Exhibit C</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Parties</U>&#148; and &#147;<U>Party</U>&#148; have the meanings specified in the Recitals to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permit</U>&#148; shall mean any permit, water right (including water withdrawal, storage, discharge, treatment or disposal right),
license, registration, consent, order, approval, variance, exemption, waiver, franchise, right or other authorization obtained from any Governmental Authority. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Encumbrances</U>&#148; shall mean: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the terms and conditions of all Leases (to the extent not otherwise addressed in this definition of Permitted Encumbrances) and all lessor
royalties, non-participating royalties, overriding royalties, reversionary interests, production payments, carried interests, net profits interests and other similar burdens upon, measured by, or payable out of production if the net cumulative
effect of such terms, conditions and burdens does not operate to (i)&nbsp;reduce the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in any (A)&nbsp;Subject Well, below the percentage set forth in <U>Schedule
14.4</U> for such Subject Well, (B)&nbsp;Subject Unit, below the highest percentage set forth in <U>Schedule 14.4</U> for any of the Subject Wells included in such Subject Unit or (C)&nbsp;Subject Lease, below the highest percentage set forth in
<U>Schedule 14.4</U> for any of the Subject Wells located on such Subject Lease or (ii)&nbsp;obligate the Acquired Companies (individually or in the aggregate) to bear a Working Interest for any (A)&nbsp;Subject Well, that is greater than the lowest
Working Interest set forth on <U>Schedule 14.4</U> for such Subject Well (unless the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in such Subject Well is greater than the Net Revenue Interest set forth on
<U>Schedule 14.4</U> for such Subject Well in the same proportion as any increase in such Working Interest), (B)&nbsp;Subject Unit that is greater than the lowest Working Interest set forth on <U>Schedule 14.4</U> for any Subject Well included in
such Subject Unit (unless the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in such Subject Unit (as determined pursuant to the formulation set forth in clause (i)(B) above) is greater than the Net Revenue
Interest set forth on <U>Schedule 14.4</U> for any Subject Well in the same proportion as any increase in such Working Interest) or (C)&nbsp;Subject Lease that is greater than the lowest Working Interest set forth on <U>Schedule 14.4</U> for any
Subject Well located on such Subject Lease (unless the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in such Subject Lease (as determined pursuant to the formulation set forth in clause (i)(C) above) is greater
than the Net Revenue Interest set forth on <U>Schedule 14.4</U> for any Subject Well located on such Subject Lease in the same proportion as any increase in such Working Interest); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) all liens for Taxes not yet due or delinquent or, if delinquent, that are being contested in good faith in the normal course of business;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) all Customary Post-Closing Consents, all Transfer Requirements (other than any Required Transfer Requirements) and all Preferential
Rights; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) all conventional rights of reassignment upon final intention to abandon or release any Lease; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) all Laws and rights reserved to or vested in any Governmental Authority (i)&nbsp;to control or regulate any of the Hydrocarbon Interests,
Subject Wells, Facilities and/or other related assets of the Acquired Companies in any manner, (ii)&nbsp;by the terms of any Permit, or by any provision of Law, to terminate such Permit or to purchase, condemn, expropriate, or recapture or to
designate a purchaser of any of the Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of the Acquired Companies, (iii)&nbsp;to use any of the Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of
the Acquired Companies in a manner which does not materially impair the use of such Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of the Acquired Companies for the purposes for which it is currently owned and
(iv)&nbsp;to enforce any obligations or duties affecting any of the Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of the Acquired Companies that are owed to any Governmental Authority under any Permit; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) all rights of any tenant in common arising as a matter of Law or other common owner of any interest in any Rights-of-Way; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) all conditions, limitations (including drilling and operating limitations), covenants,
restrictions, Permits, Rights-of-Way and other rights in (or imposed on) any of the Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of the Acquired Companies with respect to development, operations, facilities, roads,
alleys, highways, railways, pipelines, transmission lines, transportation lines, distribution lines, power lines, telephone lines, removal of timber, grazing, logging operations, canals, ditches, reservoirs and other like purposes, or for the joint
or common use of real estate, Rights-of-Way, facilities and equipment, in each case, that individually or in the aggregate (i)&nbsp;do not materially impair the use or operation of any of the Hydrocarbon Interest or Subject Wells of the Acquired
Companies for the purposes of oil and gas development, (ii)&nbsp;do not (A)&nbsp;reduce the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in any (1)&nbsp;Subject Well, below the percentage set forth in <U>Schedule
14.4</U> for such Subject Well, (2)&nbsp;Subject Unit, below the highest percentage set forth in <U>Schedule 14.4</U> for any of the Subject Wells included in such Subject Unit or (3)&nbsp;Subject Lease, below the highest percentage set forth in
<U>Schedule 14.4</U> for any of the Subject Wells located on such Subject Lease or (B)&nbsp;obligate the Acquired Companies (individually or in the aggregate) to bear a Working Interest for any (1)&nbsp;Subject Well, that is greater than the lowest
Working Interest set forth on <U>Schedule 14.4</U> for such Subject Well (unless the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in such Subject Well is greater than the Net Revenue Interest set forth on
<U>Schedule 14.4</U> for such Subject Well in the same proportion as any increase in such Working Interest), (2)&nbsp;Subject Unit that is greater than the lowest Working Interest set forth on <U>Schedule 14.4</U> for any Subject Well included in
such Subject Unit (unless the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in such Subject Unit (as determined pursuant to the formulation set forth in clause (iii)(A)(2) above) is greater than the Net Revenue
Interest set forth on <U>Schedule 14.4</U> for any Subject Well in the same proportion as any increase in such Working Interest) or (3)&nbsp;Subject Lease that is greater than the lowest Working Interest set forth on <U>Schedule 14.4</U> for any
Subject Well located on such Subject Lease (unless the Net Revenue Interest of the Acquired Companies (individually or in the aggregate) in such Subject Lease (as determined pursuant to the formulation set forth in clause (iii)(A)(3) above) is
greater than the Net Revenue Interest set forth on <U>Schedule 14.4</U> for any Subject Well located on such Subject Lease in the same proportion as any increase in such Working Interest); and (iii)&nbsp;would be accepted by a reasonably prudent and
sophisticated buyer in the business of owning, exploring, developing and operating assets and properties similar to the Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of the Acquired Companies; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) all zoning and planning ordinances and municipal regulations; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) all vendors&#146;, carriers&#146;, warehousemen&#146;s, repairmen&#146;s, mechanics&#146;, workmen&#146;s, materialmen&#146;s,
construction or other like liens arising by operation of Law in the ordinary course of business or incident to the construction or improvement of any property in respect of obligations which are not yet due or delinquent or, if delinquent, that are
being contested in good faith by appropriate proceedings by (or on behalf of) one or more of the Acquired Companies; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) all liens
created under any of the Leases, Material Contracts or Rights-of-Way or Permits held with respect to any of the Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of the Acquired Companies, or by operation of Law, in each
case, in respect of obligations that are not yet due or delinquent or, if delinquent, that are being contested in good faith by appropriate proceedings by (or on behalf of) one or more of the Acquired Companies; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) all Encumbrances affecting the Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of the Acquired Companies that
are discharged (or expressly bonded for the full amount in dispute or otherwise claimed with respect thereto) at or prior to the Closing; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) all of the terms and conditions of any Material Contract, Right of Way or Permit; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) all of the terms and conditions of this Agreement and the ORRI Conveyances; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) all mortgages and deeds of trust or similar lien instruments entered into by (i)&nbsp;a lessor or its predecessor under any of the Leases
granting an Encumbrance in and to the lessor&#146;s interest in the lands covered by such Leases (if applicable), or in and to the lessor&#146;s interest in the oil, gas and/or mineral estate associated therewith and (ii)&nbsp;a grantor under any
Right-of-Way set, in each case, so long as (A)&nbsp;the Encumbrance created under such mortgage, deed of trust or similar instrument has not been foreclosed upon and (B)&nbsp;none of the Acquired Companies has received a threat or claim (in writing)
with respect to the foreclosure of the Encumbrance created under such mortgage, deed of trust or similar instrument; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) all Encumbrances
and defects of title resulting from any Acquired Company&#146;s conduct of business after the Effective Time in compliance with the terms and conditions of this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) all other Encumbrances, agreements, instruments, obligations, defects and irregularities (but not Liens) affecting the Assets that
individually or in the aggregate (i)&nbsp;do not materially interfere with the ownership or operation of the Hydrocarbon Interests or Subject Wells, taken as a whole, (ii)&nbsp;would be accepted by a reasonably prudent and sophisticated buyer in the
business of owning, exploring, developing and operating oil and gas properties similar to such Hydrocarbon Interests, Subject Wells, Facilities and/or other related assets of the Acquired Companies and (iii)&nbsp;do not (A)&nbsp;reduce the Net
Revenue Interest of the Acquired Companies (individually or in the aggregate) in any (1)&nbsp;Subject Well, below the percentage set forth in <U>Schedule 14.4</U> for such Subject Well, (2)&nbsp;Subject Unit, below the highest percentage set forth
in <U>Schedule 14.4</U> for any of the Subject Wells included in such Subject Unit or (3)&nbsp;Subject Lease, below the highest percentage set forth in <U>Schedule 14.4</U> for any of the Subject Wells located on such Subject Lease or
(B)&nbsp;obligate the Acquired Companies (individually or in the aggregate) to bear a Working Interest for any (1)&nbsp;Subject Well, that is greater than the Working Interest set forth on <U>Schedule 14.4</U> for such Subject Well (unless the Net
Revenue Interest of the Acquired Companies (individually or in the aggregate) in such Subject Well is greater than the Net Revenue Interest set forth on <U>Schedule 14.4</U> for such Subject Well in the same proportion as any increase in such
Working Interest), (2)&nbsp;Subject Unit that is greater than the lowest Working Interest set forth on <U>Schedule 14.4</U> for any Subject Well included in such Subject Unit (unless the Net Revenue Interest of the Acquired Companies (individually
or in the aggregate) in such Subject Unit (as determined pursuant to the formulation set forth in clause (iii)(A)(2) above) is greater than the Net Revenue Interest set forth on <U>Schedule 14.4</U> for any Subject Well in the same proportion as any
increase in such Working Interest) or (3)&nbsp;Subject Lease that is greater than the lowest Working Interest set forth on <U>Schedule 14.4</U> for any Subject Well located on such Subject Lease (unless the Net Revenue Interest of the Acquired
Companies (individually or in the aggregate) in such Subject Lease (as determined pursuant to the formulation set forth in clause (iii)(A)(3) above) is greater than the Net Revenue Interest set forth on <U>Schedule 14.4</U> for the Subject Well
located on such Subject Lease in the same proportion as any increase in such Working Interest); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) defects in the chain of title or in
the Lease itself consisting of the failure to recite marital status in a document or omissions of successions of heirship or estate proceedings, unless Buyer provides affirmative evidence that such failure or omission results in another
Person&#146;s superior claim of title to the relevant Subject Well, Subject Unit or Subject Lease, as applicable; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) defects arising
solely out of lack of survey or lack of metes and bounds descriptions, unless such survey is required to adequately describe the property or expressly required by Law; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) defects arising out of lack of corporate or other entity authorization, unless Buyer provides affirmative evidence that such corporate or
other entity action was not authorized and results in another Person&#146;s superior claim of title to the relevant Subject Well, Subject Unit or Subject Lease, as applicable; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) defects arising from any change in Law (or the interpretation thereof by a court of competent
jurisdiction) after the date hereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) defects that have been proved to be cured by Laws of limitations or prescription, including Laws
of adverse possession and the doctrine of laches; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) without limiting Buyer&#146;s rights under <U>Section&nbsp;11.2(e)</U> (as provided
therein), defects arising from or relating to the outcome of minimum royalty or related litigation; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) defects that affect only
which Person has the right to receive royalty payments (rather than the amount or the proper payment of such royalty) and that do not affect the validity of the underlying Lease, and to the extent the same does not (i)&nbsp;reduce the Net Revenue
Interest of the Acquired Companies (individually or in the aggregate) in any (A)&nbsp;Subject Well, below the percentage set forth in <U>Schedule 14.4</U> for such Subject Well, (B)&nbsp;Subject Unit, below the highest percentage set forth in
<U>Schedule 14.4</U> for any of the Subject Wells included in such Subject Unit or (C)&nbsp;Subject Lease, below the highest percentage set forth in <U>Schedule 14.4</U> for any of the Subject Wells located on such Subject Lease or
(ii)&nbsp;obligate the Acquired Companies (individually or in the aggregate) to bear a Working Interest for any (A)&nbsp;Subject Well, that is greater than the Working Interest set forth on <U>Schedule 14.4</U> for such Subject Well (unless the Net
Revenue Interest of the Acquired Companies (individually or in the aggregate) in such Subject Well is greater than the Net Revenue Interest set forth on <U>Schedule 14.4</U> for such Subject Well in the same proportion as any increase in such
Working Interest), (B)&nbsp;Subject Unit that is greater than the lowest Working Interest set forth on <U>Schedule 14.4</U> for any Subject Well included in such Subject Unit (unless the Net Revenue Interest of the Acquired Companies (individually
or in the aggregate) in such Subject Unit (as determined pursuant to the formulation set forth in clause (i)(B) above) is greater than the Net Revenue Interest set forth on <U>Schedule 14.4</U> for any Subject Well in the same proportion as any
increase in such Working Interest) or (3)&nbsp;Subject Lease that is greater than the lowest Working Interest set forth on <U>Schedule 14.4</U> for any Subject Well located on such Subject Lease (unless the Net Revenue Interest of the Acquired
Companies (individually or in the aggregate) in such Subject Lease (as determined pursuant to the formulation set forth in clause (i)(C) above) is greater than the Net Revenue Interest set forth on <U>Schedule 14.4</U> for any Subject Well located
on such Subject Lease in the same proportion as any increase in such Working Interest). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Liens</U>&#148; shall mean
liens and encumbrances created under securities Law (including all state Blue Sky Laws) and any of the organizational or other constituent documents of any of the Acquired Companies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148; shall mean any Governmental Authority or any individual, firm, partnership, corporation, association, joint venture,
trust, unincorporated organization or other entity or organization. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Post-Closing Statement</U>&#148; shall be as defined in
<U>Section&nbsp;3.3(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pre-Effective Time Tax Period</U>&#148; means any Tax period ending prior to the Effective Time.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pre-Effective Time Tax Returns</U>&#148; shall be as defined in <U>Section&nbsp;6.12(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Preferential Right</U>&#148; shall mean any right or agreement that enables or may enable any Person to purchase or acquire any of
the Hydrocarbon Interests or any interest therein or portion thereof as a result of or in connection with the execution or delivery of this Agreement or the consummation or performance of the terms, conditions and transactions contemplated by this
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Preliminary Settlement Statement</U>&#148; shall be as defined in <U>Section&nbsp;3.3(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase Price</U>&#148; shall be as defined in <U>Section&nbsp;3.1</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchased Corporations</U>&#148; shall be as defined in <U>Section&nbsp;6.12(g)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchased Equity</U>&#148; shall mean the equity of each of SandRidge Onshore, SandRidge Offshore and SandRidge Energy Offshore. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Release</U>&#148; means any depositing, spilling, leaking, pumping, pouring, placing, emitting, discarding, abandoning, emptying,
discharging, migrating, injecting, escaping, leaching, seeping, dumping, or disposing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Representative</U>&#148; shall mean, with
respect to a Person, such Person&#146;s directors, managers, officers, employees, consultants, agents, financial advisors, attorneys, accountants and other representatives. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Required Transfer Requirements</U>&#148; means any Transfer Requirements that (a)&nbsp;are not set forth on <U>Schedule 4.2(o)</U>
and (b)&nbsp;are included in a Lease, the provisions of which expressly state that the failure to obtain the requisite Transfer Requirement prior to the consummation of the transactions similar to those contemplated hereby either (i)&nbsp;entitles
the lessor of such Lease to terminate the Lease or (ii)&nbsp;renders the indirect transfer of such Lease null and void (or voidable, at the express option of the lessor). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Requisite Financial Statement Information</U>&#148; shall be as defined in <U>Section&nbsp;6.20</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reserve Report</U>&#148; shall mean that certain reserve report attached hereto as <U>Schedule 14.1</U>, which sets forth the
Seller&#146;s estimate of the Acquired Companies&#146; oil and gas reserves as of the Effective Time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Retained
Licenses</U>&#148; shall be as defined in <U>Section&nbsp;6.17(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rights-of-Way</U>&#148; shall mean all servitudes,
easements, fee surface rights, surface leases and rights-of-way. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Royalties</U>&#148; shall mean all rentals, delay rentals,
shut-ins, royalties (including overriding royalties) and other payments, in each case, that are attributable to any of the Hydrocarbon Interests owned by any of the Acquired Companies except for Royalties relating to any Offshore Legacy Assets for
periods prior to April&nbsp;17, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SandRidge Energy Offshore</U>&#148; shall mean SandRidge Energy Offshore, LLC, a Delaware
limited liability company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SandRidge Offshore</U>&#148; shall mean SandRidge Offshore, LLC, a Delaware limited liability
company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SandRidge Onshore</U>&#148; shall mean SandRidge Onshore, LLC, a Delaware limited liability company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Schedule Updates</U>&#148; shall be as defined in <U>Section&nbsp;6.5</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section 336(e) Agreement</U>&#148; shall be as defined in <U>Section&nbsp;6.12(h)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Section 336(e) Election</U>&#148; shall be as defined in <U>Section&nbsp;6.12(h)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; shall mean Securities Act of 1933, as amended. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SEI</U>&#148; shall be as defined in the preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seismic License</U>&#148; shall mean any seismic, data and geophysical licenses and permits. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller</U>&#148; shall be as defined in the preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Assistance Period</U>&#148; shall be as defined in <U>Section&nbsp;6.10(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Consolidated Group</U>&#148; means any Consolidated Group of which each of (i)&nbsp;any Acquired Company and (ii)&nbsp;Seller
or an Affiliate of Seller (other than the Acquired Companies), is or was a member on or prior to the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller
Consolidated Return</U>&#148; means any Tax Return of a Seller Consolidated Group. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Employees</U>&#148; shall mean the
employees of Seller and/or its Affiliates listed on <U>Schedule 14.2</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Fundamental Representations</U>&#148; shall
mean the representations and warranties set forth in <U>Sections 4.1(a)</U>, <U>(b)</U>, <U>(c)(i)</U>, <U>(f)</U>&nbsp;and <U>(g)</U>&nbsp;and <U>Sections 4.2(a)</U>, <U>(g)</U>&nbsp;and <U>(l)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Legacy Assets</U>&#148; shall mean those assets and properties described on <U>Schedule 14.4</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Indemnified Persons</U>&#148; shall be as defined in <U>Section&nbsp;11.1</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Parent Financial Guarantee</U>&#148; shall mean those certain Third Party Indemnity Agreements heretofore executed by SEI in
favor of the BOEM on behalf of the Acquired Companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller Taxes</U>&#148; shall mean (a)&nbsp;any Taxes imposed on the
Acquired Companies for any Pre-Effective Time Period and for the portion of any Straddle Period ending prior to the Effective Time (determined in accordance with <U>Section&nbsp;6.12(b)</U>); and (b)&nbsp;any Taxes imposed on or with respect to any
Consolidated Group of which any Acquired Company is or was a member prior to the Closing Date; <I>provided</I> that no such Tax will constitute a Seller Tax to the extent such Tax was included as a Current Liability in the determination of Effective
Time Net Working Capital, as ultimately determined pursuant to <U>Article 3</U>. For purposes of determining Seller Taxes, any Tax based on or measured by income or receipts shall be deemed to be imposed with respect to the Tax period in which such
income or receipts are realized, regardless of whether any privilege obtained for the payment of such Tax relates to a different Tax period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller&#146;s Closing Certificate</U>&#148; shall be as defined in <U>Section&nbsp;7.2(b)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Service Provider</U>&#148; or &#147;<U>Service Providers</U>&#148; shall be as defined in <U>Section&nbsp;6.18</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SHI</U>&#148; shall be as defined in the preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Straddle Period</U>&#148; shall mean any Tax period that begins before the Effective Time and ends after the Effective Time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Straddle Period Tax Returns</U>&#148; shall be as defined in <U>Section&nbsp;6.12(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject Facilities</U>&#148; shall mean the Facilities located on the following fields: (a)&nbsp;East Breaks 160, (b)&nbsp;High
Island A474 and (c)&nbsp;South Timbalier 185. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject Field</U>&#148; shall mean any of the fields described on <U>Schedule 14.4</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject Interests</U>&#148; shall mean and include all rights, titles and interests of the Acquired Companies (as of the
Effective Time and as of the Closing Date) in, to or under any Hydrocarbon Interests described on <U>Schedule 14.3</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject
Lease</U>&#148; shall mean any Lease, the production from which is attributable to a Subject Well, to the extent such Lease is not included in a Subject Unit, <I>provided</I><I>, however</I> that &#147;Subject Lease&#148; shall not include any
portion of such Lease that constitutes an Offshore Legacy Asset. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject Unit</U>&#148; shall mean any Unit on which a Subject
Well is located to the extent such Unit is created by virtue of any pooling, unitization, communitization, production sharing or other similar agreement or by virtue of an order or declaration by a Governmental Authority, <I>provided, however</I>
that &#147;Subject Unit&#148; shall not include any portion of such Unit that constitutes an Offshore Legacy Asset. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject
Well</U>&#148; shall mean any oil and/or gas well described in <U>Schedule 14.4</U>, whether producing, shut in, or temporarily abandoned, <I>provided, however</I> that &#147;Subject Well&#148; shall not include any portion of such Lease that
constitutes an Offshore Legacy Asset. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject Well PV-10 Value</U>&#148; means, with respect to each Subject Well, the aggregate
amount of all &#147;PV-10&#148; values set forth in the Reserve Report that are attributable to such Subject Well; <I>provided, however </I>that, in the case of any Subject Well, the &#147;PV-10&#148; value of which (as represented in the Reserve
Report) includes the &#147;PV-10&#148; value associated with both Offshore Legacy Assets and Seller Legacy Assets, the &#147;Subject Well PV-10 Value&#148; for such Subject Well shall be proportionately reduced to exclude the portion of such
&#147;PV-10 Value&#148; attributable to the Offshore Legacy Assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Superior Turnkey Agreement</U>&#148; means that certain
Amended and Restated Turnkey Platform Decommissioning and Well Plugging and Abandonment Contract by and between SPN Resources, LLC and Superior Energy Services, L.L.C. dated effective as of January&nbsp;1, 2011. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax</U>&#148; shall mean (a)&nbsp;any federal, state, local or non-U.S. income, gross receipts, payroll, employment, social security
(or similar), unemployment, disability, excise, severance, production, stamp, occupation, premium, windfall profits, profits, personal property, real property, sales, license, goods and services, transfer, use, capital stock, franchise, occupation,
alternative or add-on minimum tax, estimated or other tax of any kind whatsoever, including any interest, fine, penalty or addition thereto, whether disputed or not; (b)&nbsp;all liability for the payment of any amounts of the type described in
clause (a)&nbsp;as the result of being a member of a Consolidated Group; and (c)&nbsp;all liability for the payment of any amounts as a result of an express or implied obligation to indemnify any other person with respect to the payment of any
amounts of the type described in clause (a)&nbsp;or clause (b). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax Proceeding</U>&#148; shall be as defined in
<U>Section&nbsp;6.12(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax Return</U>&#148; shall mean any return, declaration, report, claim for refund, or information
return or statement relating to Taxes, including any schedule or attachment thereto, and including any amendment thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Terminated Licenses</U>&#148; shall be as defined in <U>Section&nbsp;6.17(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Termination Payment</U>&#148; shall be as defined in <U>Section&nbsp;12.2(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Third Party Claim</U>&#148; shall be as defined in <U>Section&nbsp;11.3(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transfer Requirement</U>&#148; shall mean any consent, approval, authorization or permit
of, or filing with or notification to, any Person that is required to be obtained, made or complied with for or in connection with the transactions contemplated herein, other than any consent or approval of or filing with any Governmental Authority.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transfer Taxes</U>&#148; shall be as defined in <U>Section&nbsp;6.12(f)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transition Services Agreement</U>&#148; means that certain Transition Services Agreement, dated as of the Closing Date, by and
between Buyer and SandRidge Operating Company, substantially in the form attached hereto as <U>Exhibit D</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Units</U>&#148;
shall mean any and all rights and interests attributable or allocable to the Leases by virtue of any pooling, unitization, communitization, production sharing or similar agreement, order or declaration, in each case with regard to Hydrocarbons in
place. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>WARN Act</U>&#148; shall mean the Workers Adjustment and Retraining Notification Act of 1989, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Working Interest</U>&#148; shall mean the interest in and to a Subject Well, Subject Unit or Subject Lease that is burdened with the
obligation to bear and pay costs and expenses of drilling, maintenance, development and operations on or in connection with such Subject Well, Subject Unit or Subject Lease, but without regard to the effect of any royalties, overriding royalties,
production payments, net profits interests and other similar burdens upon, measured by, or payable out of production therefrom. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT B </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><I>EPA Execution Version </I></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>MEMBERSHIP INTERESTS ASSIGNMENT AGREEMENT</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This MEMBERSHIP INTERESTS ASSIGNMENT AGREEMENT (this &#147;<U>Agreement</U>&#148;) is made and entered into as of
<B><I>[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</I></B> but effective as of 12:01 a.m., Houston Time, December&nbsp;1, 2013 (the &#147;<U>Effective Time</U>&#148;), by
and between SandRidge Energy, Inc., a Delaware corporation (&#147;<U>SEI</U>&#148;), SandRidge Holdings, Inc., a Delaware corporation (&#147;<U>SHI</U>,&#148; referred to collectively with SEI as &#147;<U>Assignor</U>&#148;), and Fieldwood Energy
LLC, a Delaware limited liability company (&#147;<U>Assignee</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Assignor owns all of the issued and outstanding
membership interests of each of SandRidge Energy Offshore, LLC, a Delaware limited liability company, SandRidge Offshore, LLC, a Delaware limited liability company, and SandRidge Onshore, LLC, a Delaware limited liability company (collectively, the
&#147;<U>Membership Interests</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, pursuant to that certain Equity Purchase Agreement, dated as of January&nbsp;6,
2014 (the &#147;<U>Purchase Agreement</U>&#148;), by and between Assignor and Assignee, Assignor agreed to sell to Assignee, and Assignee agreed to purchase from Assignor, the Membership Interests; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Assignor now desires to sell, assign, transfer and convey all of the Membership Interests to Assignee in accordance with the
terms set forth in the Purchase Agreement and this Agreement.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, for and in consideration of the above stated
premises, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1. <U>Assignment</U>. For value received, Assignor hereby sells, assigns, transfers and conveys to Assignee, and Assignee hereby
accepts, as of the Effective Time, all of Assignor&#146;s right, title and interest in and to the Membership Interests. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.
<U>Binding Effect</U>. This Agreement shall be binding upon and shall inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3. <U>Entire Agreement</U>. This Agreement, together with the Purchase Agreement, supersedes any prior or contemporaneous
understandings or agreements between the parties respecting the subject matter hereof and constitutes the entire understanding and agreement between the parties with respect to the assignment of the Membership Interests. In the event a conflict or
inconsistency between the terms and conditions of this Agreement and the Purchase Agreement, the terms and conditions of the Purchase Agreement shall control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4. <U>Captions</U>. The captions in this Agreement are for convenience only and shall not be considered a part of or affect the
construction or interpretation of any provision of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5. <U>Controlling Law; Amendment</U>. This Agreement
shall be governed by and constructed and enforced in accordance with the laws of the State of Texas without reference to its conflict or choice of law principles that would apply the substantive law of another jurisdiction. This Agreement may not be
amended, modified or supplemented except by written agreement of the parties hereto. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6. <U>Further Assurances</U>. Assignee and Assignor agree to perform all such
further acts and execute and deliver all such further agreements, instruments and other documents as the other party shall reasonably request to evidence more effectively the assignment made by Assignor under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7. <U>Counterparts</U>. This Agreement may be executed in counterparts, each of which shall be deemed an original instrument, but
all such counterparts together shall constitute but one agreement. Delivery of an executed counterpart signature page by facsimile is as effective as executing and delivering this Agreement in the presence of the other parties to this Agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[</I>SIGNATURE PAGE FOLLOWS<I>]</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>IN WITNESS WHEREOF</B>, the undersigned have executed this Agreement effective as of the
Effective Time. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>ASSIGNOR:</B></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">SANDRIDGE ENERGY, INC.</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">SANDRIDGE HOLDINGS, INC.</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>IGNATURE</SMALL>
P<SMALL>AGE</SMALL> <SMALL>TO</SMALL> M<SMALL>EMBERSHIP</SMALL> I<SMALL>NTERESTS</SMALL> A<SMALL>SSIGNMENT</SMALL> A<SMALL>GREEMENT</SMALL> </P>


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 <DIV ALIGN="right">
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


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<TD VALIGN="top" COLSPAN="3"><B>ASSIGNEE:</B></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">FIELDWOOD ENERGY LLC</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>IGNATURE</SMALL>
P<SMALL>AGE</SMALL> <SMALL>TO</SMALL> M<SMALL>EMBERSHIP</SMALL> I<SMALL>NTERESTS</SMALL> A<SMALL>SSIGNMENT</SMALL> A<SMALL>GREEMENT</SMALL> </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT C-1 </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>EPA Execution Version </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONVEYANCE OF OVERRIDING ROYALTY INTEREST </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">UNITED STATES OF AMERICA</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><B>KNOW ALL MEN BY THESE PRESENTS</B>:<B></B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">OFFSHORE [TEXAS]</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This CONVEYANCE OF OVERRIDING ROYALTY INTEREST (this &#147;<U>Conveyance</U>&#148;), effective as of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014, , at 12:01 a.m., Houston Time (the &#147;<U>Effective Time</U>&#148;), is made by
<B>[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</B>, a[n]
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], whose address is
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] (&#147;<U>Assignor</U>&#148;), to SandRidge Exploration and Production, LLC, a Delaware limited liability company, whose
address is 123 Robert S. Kerr Avenue, Oklahoma City, Oklahoma 73102 (&#147;<U>Assignee</U>&#148;). This Conveyance is executed and delivered in connection with and pursuant to the terms of that certain Equity Purchase Agreement between Assignor and
SandRidge Holdings, Inc., an affiliate of Assignee, dated January&nbsp;6, 2014 (the &#147;<U>Purchase Agreement</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For and in
consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), cash in hand and other good and valuable consideration paid to Assignor by Assignee, the receipt and sufficiency of which are hereby acknowledged, Assignor does hereby SELL, TRANSFER,
GRANT, ASSIGN, CONVEY and DELIVER unto Assignee an overriding royalty interest equal to two percent (2%)&nbsp;of 8/8ths in, to and under: (i)&nbsp;each of the oil and gas leases, or portions thereof, described on <U>Exhibit A</U> insofar and only
insofar as applicable to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) with respect to the leases (or portions thereof) set forth in numbers 1 and 2 on <U>Exhibit A</U>, the hydrocarbon-bearing
intervals lying below the depths as set forth on Exhibit B for such leases and below the salt interval overhang; <I>provided</I>, if an initial well is drilled to a hydrocarbon bearing interval described above and such well is determined to be
capable of producing hydrocarbons in commercial quantities at the time of completion, then the stratigraphic equivalent of such hydrocarbon-bearing intervals (without regard to whether lying below the salt interval overhang) encountered in any
subsequent delineation wells drilled to down-dip locations from the initial well; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) with respect to the lease (or portion thereof) set forth in
number 3 on <U>Exhibit A</U>, the depths described on <U>Exhibit B</U> with respect thereto (such depths identified in clauses (a)&nbsp;and (b)&nbsp;above, the &#147;<U>Deep Rights</U>&#148;) (such leases, or portions thereof, as so depth limited,
the &#147;<U>Leases</U>,&#148; and individually a &#147;<U>Lease</U>&#148;) and (ii)&nbsp;the oil, gas, condensate, other liquid or gaseous hydrocarbons (collectively, the &#147;<U>Hydrocarbons</U>&#148;) which may be produced, saved and sold from
such Leases (the interest described in clauses (i)&nbsp;and (ii), the &#147;<U>Overriding Royalty Interest</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">TO HAVE AND TO
HOLD the Overriding Royalty Interest onto Assignee, its successors and assigns forever, subject to all applicable laws, rules, regulations and orders of governmental authorities, the terms and provisions of the Leases as currently in effect and the
terms and provisions set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Overriding Royalty Interest conveyed hereby is a non-operating, non-expense-bearing overriding
royalty interest in the nature of an interest in real property, free of all cost, risk and expense of production and operations (including all drilling, developing and operating costs and expenses); <I>provided</I> that the valuation of the
Hydrocarbons attributable to, the costs </P>

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and deductions allowed to reduce payments attributable to, and the payment of royalties payable with respect to, the Overriding Royalty Interest shall be made in the same manner and under the
same conditions as is provided in said Leases and the rules and regulations of the Bureau of Ocean Energy Management of the United States Department of Interior, or any successor agency (the &#147;<U>BOEM</U>&#148;), for the payment and delivery of
royalties to the lessors under the applicable Lease. Except as expressly provided in this Conveyance, in no event shall Assignee ever be liable or responsible in any way for the payment of any costs, expenses or liabilities (a)&nbsp;attributable to
the Leases (or any part thereof) or the Overriding Royalty Interest, or (b)&nbsp;incurred in connection with the production or saving of Hydrocarbons produced therefrom or otherwise related thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Overriding Royalty Interest shall be free of (and without deduction therefrom of) any and all royalties and other burdens on production
and shall bear no part of the same, and shall be without deduction for the cost of gathering, storing, separating, treating, dehydrating, compressing and otherwise making the Hydrocarbons produced and saved from the Leases ready for the sale or use,
except to the extent otherwise allowed by, or provided in, the rules and regulations of the BOEM. Assignor&#146;s retained leasehold interests shall be burdened with, and Assignor shall be responsible for the timely payment of, all such royalties,
overriding royalties and other burdens on production, and Assignor shall defend, indemnify and hold Assignee and its affiliates harmless from and against any loss or claim with respect to any such royalties, overriding royalties or other burdens on
production or any claim by the owners or holders of such royalties, overriding royalties or other burdens on production. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Assignor
warrants and defends all and singular title to the Overriding Royalty Interest attributable to the Leases described in number 3 on <U>Exhibit A</U> and the Hydrocarbons produced therefrom unto Assignee against every person whomsoever lawfully
claiming or to claim the same by, through or under Assignor but not otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>The Overriding Royalty Interest shall be applicable
to any renewal or extension of any Lease;<I> provided</I> that no obligations, express or implied, shall arise by reason of the assignment of the Overriding Royalty Interest to obligate Assignor to maintain the Leases in effect either by payment of
delay rentals, compensatory royalties or other payments, or the drilling of any wells on the lands subject to the Leases. Assignor is specifically empowered with the right and authority to release all or any part of the Leases without the necessity
of Assignee&#146;s joinder in any release; <I>provided</I> that the Overriding Royalty Interest shall be applicable to any substitute, replacement or new lease covering the same property, horizons and minerals taken or acquired by Assignor, its
affiliates or their respective successors or assigns within two years after the date of such release.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>Any assignment
conveyance or other transfer of Assignor&#146;s interests in the Leases or any part thereof shall be made and accepted expressly subject and subordinate to this Conveyance and the Overriding Royalty Interest. Assignee may freely transfer, assign or
convey all or any portion of the Overriding Royalty Interest; <I>provided</I> that no such transfer, assignment or conveyance shall be binding on Assignor until the receipt by Assignor of proper evidence of such transfer, assignment or
conveyance.<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance is an absolute conveyance of an interest in real and/or immovable property. The
provisions of this Conveyance shall run with the land and the respective interests of Assignor and Assignee therein and shall be binding upon and shall inure to the benefit of Assignor and Assignee and their respective successors and assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance shall be governed and construed and enforced in accordance with the internal laws of the State of Texas, excluding any
conflict-of-laws rule or principle that might refer the governance, construction or interpretation of this Conveyance to the law of another jurisdiction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance may not be modified or amended except by an instrument or instruments in writing signed by Assignor and Assignee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Assignor will execute and deliver all such other and additional instruments, notices, releases, acquittances and other documents and will do
all such other acts and things, as may be necessary to more fully assure to Assignee all of the rights and interests herein and hereby granted or intended so to be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">It is the intent of Assignor and Assignee that no provision herein violate any applicable law regarding the rule against perpetuities, the
suspension of the absolute power of alienation, or other rules regarding the vesting or duration of estates, and this Conveyance shall be construed as not violating such rules to the extent the same can be so construed consistent with the intent of
the parties. Notwithstanding any other provision in this Conveyance, if any right, interest or estate in property granted by this Conveyance or pursuant hereto does not vest upon the date hereof, such right, interest or estate shall vest not later
than twenty-one (21)&nbsp;years less one (1)&nbsp;day after the death of the last surviving descendant of Joseph P. Kennedy, father of John F. Kennedy, former President of the United States of America, who is living on the date of execution of the
Conveyance by Assignor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance contains the entire agreement between the parties with respect to the subject matter hereof and
there are no agreements, understandings, representations or warranties between the parties with respect to the subject matter hereof other than those set forth or referred to herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance may be executed in any number of counterparts, and each counterpart hereof shall be deemed to be an original instrument, but
all such counterparts together shall constitute but one conveyance. Further, the this Conveyance may be recorded in multiple jurisdictions, including the records of the Bureau of Ocean Energy Management and the parish and county records adjacent to
where the Leases are situated and all such recordings of this Conveyance shall constitute but one conveyance and not multiple conveyances of separate overriding royalty interests in the Leases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>[Remainder of page intentionally blank. Signature pages follow.] </I></B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, this Conveyance is executed this &nbsp;&nbsp;&nbsp;&nbsp; day of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B><U>WITNESSES</U></B>:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><B><U>ASSIGNOR</U></B>:</TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><B>[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3">a [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">PRINT NAME</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
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<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;]</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">PRINT NAME</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ACKNOWLEDGMENT </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="67%"></TD></TR>


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<TD VALIGN="top">THE&nbsp;STATE&nbsp;OF</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
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<TD VALIGN="top" NOWRAP>COUNTY&nbsp;OF</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BE IT KNOWN, that on this &nbsp;&nbsp;&nbsp;&nbsp; day of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014, before me,
the undersigned authority, personally came and appeared [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], to me personally known, who, being by me duly sworn, did say that he
is the [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] of
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], a [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
and that the foregoing instrument was signed on behalf of said [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] by authority of its
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] and the said
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] acknowledged said instrument to be the free act and deed of said
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD COLSPAN="3" VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">NOTARY PUBLIC in and for the aforesaid County and State</TD>
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<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Commission&nbsp;Expires:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>IGNATURE</SMALL>
<SMALL>AND</SMALL> A<SMALL>CKNOWLEDGMENT</SMALL> P<SMALL>AGE</SMALL> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><SMALL>TO</SMALL> C<SMALL>ONVEYANCE</SMALL> <SMALL>OF</SMALL>
O<SMALL>VERRIDING</SMALL> R<SMALL>OYALTY</SMALL> I<SMALL>NTEREST</SMALL> </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, this Conveyance is executed this &nbsp;&nbsp;&nbsp;&nbsp; day of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B><U>WITNESSES</U></B>:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><B><U>ASSIGNEE</U></B>:</TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3">SANDRIDGE EXPLORATION AND PRODUCTION, LLC,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3">a Delaware limited liability company</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">PRINT NAME</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;]</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">PRINT NAME</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ACKNOWLEDGMENT </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="67%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">THE&nbsp;STATE&nbsp;OF</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>COUNTY&nbsp;OF</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BE IT KNOWN, that on this &nbsp;&nbsp;&nbsp;&nbsp; day of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014, before me,
the undersigned authority, personally came and appeared [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], to me personally known, who, being by me duly sworn, did say that he
is the [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] of SandRidge Exploration and Production, LLC, a Delaware limited liability company, and that the foregoing instrument
was signed on behalf of said limited liability company by authority of its [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] and the said
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] acknowledged said instrument to be the free act and deed of said limited liability company. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
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<TD WIDTH="31%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3">NOTARY PUBLIC in and for the aforesaid County and State</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Commission&nbsp;Expires:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>IGNATURE</SMALL>
<SMALL>AND</SMALL> A<SMALL>CKNOWLEDGMENT</SMALL> P<SMALL>AGE</SMALL> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><SMALL>TO</SMALL> C<SMALL>ONVEYANCE</SMALL> <SMALL>OF</SMALL>
O<SMALL>VERRIDING</SMALL> R<SMALL>OYALTY</SMALL> I<SMALL>NTEREST</SMALL> </P>


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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Leases </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">OCS-G 2137 and OSC-G 01608; all of South Pass Area Block 60 </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">OCS-G 1612; SW/4 and NW/4 of South Pass Area Block 67 </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">OCS-G 1614; N/2 of NW/4 of South Pass Area Block 70 </TD></TR></TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT B </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Deep Rights </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Covering Deep Rights insofar
and only insofar as applicable to the following aliquots in such Leases: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">OCS-G 2137 and OSC-G 01608; All of South Pass Area Block 60 &#151; below 11,500&#146; TVD </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">OCS-G 1612; SW/4 and NW/4 of South Pass Area Block 67 &#151; below 11,500&#146; TVD </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">OCS-G 1614; N/2 of NW/4 of South Pass Area Block 70 &#151; below 16,209&#146; TVD </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E<SMALL>XHIBITS</SMALL> A
<SMALL>AND</SMALL> B </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT C-2 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>EPA Execution Version </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONVEYANCE OF OVERRIDING ROYALTY INTEREST </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="71%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">UNITED STATES OF AMERICA</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><B>KNOW ALL MEN BY THESE PRESENTS</B>:<B></B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">OFFSHORE [TEXAS]</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This CONVEYANCE OF OVERRIDING ROYALTY INTEREST (this &#147;<U>Conveyance</U>&#148;), effective as of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014, , at 12:01 a.m., Houston Time (the &#147;<U>Effective Time</U>&#148;), is made by
<B>[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</B>, a[n]
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], whose address is
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] (&#147;<U>Assignor</U>&#148;), to SandRidge Exploration and Production, LLC, a Delaware limited liability company, whose
address is 123 Robert S. Kerr Avenue, Oklahoma City, Oklahoma 73102 (&#147;<U>Assignee</U>&#148;). This Conveyance is executed and delivered in connection with and pursuant to the terms of that certain Equity Purchase Agreement between Assignor and
SandRidge Holdings, Inc., an affiliate of Assignee, dated January&nbsp;6, 2014 (the &#147;<U>Purchase Agreement</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For and in
consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), cash in hand and other good and valuable consideration paid to Assignor by Assignee, the receipt and sufficiency of which are hereby acknowledged, Assignor does hereby SELL, TRANSFER,
GRANT, ASSIGN, CONVEY and DELIVER unto Assignee an overriding royalty interest equal to two percent (2%)&nbsp;of 8/8ths in, to and under: (i)&nbsp;each of the oil and gas leases described on <U>Exhibit A</U> insofar and only insofar as applicable to
the depths described on <U>Exhibit B</U> (such identified depths, the &#147;<U>Deep Rights</U>&#148;) (such leases, as so depth limited, the &#147;<U>Leases</U>,&#148; and individually a &#147;<U>Lease</U>&#148;) and (ii)&nbsp;the oil, gas,
condensate, other liquid or gaseous hydrocarbons (collectively, the &#147;<U>Hydrocarbons</U>&#148;) which may be produced, saved and sold from such Leases (the interest described in clauses (i)&nbsp;and (ii), the &#147;<U>Overriding Royalty
Interest</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">TO HAVE AND TO HOLD the Overriding Royalty Interest onto Assignee, its successors and assigns forever, subject to
all applicable laws, rules, regulations and orders of governmental authorities, the terms and provisions of the Leases as currently in effect and the terms and provisions set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Overriding Royalty Interest conveyed hereby is a non-operating, non-expense-bearing overriding royalty interest in the nature of an
interest in real property, free of all cost, risk and expense of production and operations (including all drilling, developing and operating costs and expenses); <I>provided</I> that the valuation of the Hydrocarbons attributable to, the costs and
deductions allowed to reduce payments attributable to, and the payment of royalties payable with respect to, the Overriding Royalty Interest shall be made in the same manner and under the same conditions as is provided in said Leases and the rules
and regulations of the Bureau of Ocean Energy Management of the United States Department of Interior, or any successor agency (the &#147;<U>BOEM</U>&#148;), for the payment and delivery of royalties to the lessors under the applicable Lease. Except
as expressly provided in this Conveyance, in no event shall Assignee ever be liable or responsible in any way for the payment of any costs, expenses or liabilities (a)&nbsp;attributable to the Leases (or any part thereof) or the Overriding Royalty
Interest, or (b)&nbsp;incurred in connection with the production or saving of Hydrocarbons produced therefrom or otherwise related thereto. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Overriding Royalty Interest shall be free of (and without deduction therefrom of) any and all
royalties and other burdens on production and shall bear no part of the same, and shall be without deduction for the cost of gathering, storing, separating, treating, dehydrating, compressing and otherwise making the Hydrocarbons produced and saved
from the Leases ready for the sale or use, except to the extent otherwise allowed by, or provided in, the rules and regulations of the BOEM. Assignor&#146;s retained leasehold interests shall be burdened with, and Assignor shall be responsible for
the timely payment of, all such royalties, overriding royalties and other burdens on production, and Assignor shall defend, indemnify and hold Assignee and its affiliates harmless from and against any loss or claim with respect to any such
royalties, overriding royalties or other burdens on production or any claim by the owners or holders of such royalties, overriding royalties or other burdens on production. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>The Overriding Royalty Interest shall be applicable to any renewal or extension of any Lease; <I>provided</I> that no obligations,
express or implied, shall arise by reason of the assignment of the Overriding Royalty Interest to obligate Assignor to maintain the Leases in effect either by payment of delay rentals, compensatory royalties or other payments, or the drilling of any
wells on the lands subject to the Leases. Assignor is specifically empowered with the right and authority to release all or any part of the Leases without the necessity of Assignee&#146;s joinder in any release; <I>provided</I> that the Overriding
Royalty Interest shall be applicable to any substitute, replacement or new lease covering the same property, horizons and minerals taken or acquired by Assignor, its affiliates or their respective successors or assigns within two years after the
date of such release.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>Any assignment conveyance or other transfer of Assignor&#146;s interests in the Leases or any part
thereof shall be made and accepted expressly subject and subordinate to this Conveyance and the Overriding Royalty Interest. Assignee may freely transfer, assign or convey all or any portion of the Overriding Royalty Interest; <I>provided</I> that
no such transfer, assignment or conveyance shall be binding on Assignor until the receipt by Assignor of proper evidence of such transfer, assignment or conveyance.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance is an absolute conveyance of an interest in real and/or immovable property. The provisions of this Conveyance shall run with
the land and the respective interests of Assignor and Assignee therein and shall be binding upon and shall inure to the benefit of Assignor and Assignee and their respective successors and assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance shall be governed and construed and enforced in accordance with the internal laws of the State of Texas, excluding any
conflict-of-laws rule or principle that might refer the governance, construction or interpretation of this Conveyance to the law of another jurisdiction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance may not be modified or amended except by an instrument or instruments in writing signed by Assignor and Assignee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Assignor will execute and deliver all such other and additional instruments, notices, releases, acquittances and other documents and will do
all such other acts and things, as may be necessary to more fully assure to Assignee all of the rights and interests herein and hereby granted or intended so to be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">It is the intent of Assignor and Assignee that no provision herein violate any applicable law
regarding the rule against perpetuities, the suspension of the absolute power of alienation, or other rules regarding the vesting or duration of estates, and this Conveyance shall be construed as not violating such rules to the extent the same can
be so construed consistent with the intent of the parties. Notwithstanding any other provision in this Conveyance, if any right, interest or estate in property granted by this Conveyance or pursuant hereto does not vest upon the date hereof, such
right, interest or estate shall vest not later than twenty-one (21)&nbsp;years less one (1)&nbsp;day after the death of the last surviving descendant of Joseph P. Kennedy, father of John F. Kennedy, former President of the United States of America,
who is living on the date of execution of the Conveyance by Assignor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance contains the entire agreement between the parties
with respect to the subject matter hereof and there are no agreements, understandings, representations or warranties between the parties with respect to the subject matter hereof other than those set forth or referred to herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Conveyance may be executed in any number of counterparts, and each counterpart hereof shall be deemed to be an original instrument, but
all such counterparts together shall constitute but one conveyance. Further, the this Conveyance may be recorded in multiple jurisdictions, including the records of the Bureau of Ocean Energy Management and the parish and county records adjacent to
where the Leases are situated and all such recordings of this Conveyance shall constitute but one conveyance and not multiple conveyances of separate overriding royalty interests in the Leases. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>[Remainder of page intentionally blank. Signature pages follow.] </I></B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, this Conveyance is executed this &nbsp;&nbsp;&nbsp;&nbsp; day of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><U>WITNESSES</U></B>:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><U><B>ASSIGNOR</B></U>:</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><B>[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3">a [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">PRINT NAME</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">PRINT NAME</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ACKNOWLEDGMENT </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="67%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">THE&nbsp;STATE&nbsp;OF</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>COUNTY&nbsp;OF</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BE IT KNOWN, that on this &nbsp;&nbsp;&nbsp;&nbsp; day of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014, before me,
the undersigned authority, personally came and appeared [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], to me personally known, who, being by me duly sworn, did say that he
is the [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] of
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], a [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],
and that the foregoing instrument was signed on behalf of said [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] by authority of its
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] and the said
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] acknowledged said instrument to be the free act and deed of said
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD COLSPAN="3" VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">NOTARY PUBLIC in and for the aforesaid County and State</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Commission&nbsp;Expires:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>IGNATURE</SMALL>
<SMALL>AND</SMALL> A<SMALL>CKNOWLEDGMENT</SMALL> P<SMALL>AGE</SMALL> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><SMALL>TO</SMALL> C<SMALL>ONVEYANCE</SMALL> <SMALL>OF</SMALL>
O<SMALL>VERRIDING</SMALL> R<SMALL>OYALTY</SMALL> I<SMALL>NTEREST</SMALL> </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, this Conveyance is executed this &nbsp;&nbsp;&nbsp;&nbsp; day of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><U>WITNESSES</U></B>:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><B><U>ASSIGNEE</U></B>:</TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3">SANDRIDGE EXPLORATION AND PRODUCTION, LLC,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3">a Delaware limited liability company</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">PRINT NAME</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD COLSPAN="3" VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">PRINT NAME</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ACKNOWLEDGMENT </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="67%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">THE&nbsp;STATE&nbsp;OF</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>COUNTY&nbsp;OF</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&#167;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BE IT KNOWN, that on this &nbsp;&nbsp;&nbsp;&nbsp; day of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2014, before me,
the undersigned authority, personally came and appeared [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], to me personally known, who, being by me duly sworn, did say that he
is the [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] of SandRidge Exploration and Production, LLC, a Delaware limited liability company, and that the foregoing instrument
was signed on behalf of said limited liability company by authority of its [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] and the said
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] acknowledged said instrument to be the free act and deed of said limited liability company. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
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<TD VALIGN="top" COLSPAN="3">NOTARY PUBLIC in and for the aforesaid County and State</TD>
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<TD VALIGN="top">Name:</TD>
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<TD VALIGN="top">Commission&nbsp;Expires:</TD>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>IGNATURE</SMALL>
<SMALL>AND</SMALL> A<SMALL>CKNOWLEDGMENT</SMALL> P<SMALL>AGE</SMALL> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><SMALL>TO</SMALL> C<SMALL>ONVEYANCE</SMALL> <SMALL>OF</SMALL>
O<SMALL>VERRIDING</SMALL> R<SMALL>OYALTY</SMALL> I<SMALL>NTEREST</SMALL> </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Leases </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Bullwinkle Field Leases:
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OCS-G 34539, Green Canyon Block 64 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OCS-G 5889, Green
Canyon Block 65 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OCS-G 14668, Green Canyon Block 108 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OCS-G
5900, Green Canyon Block 109 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT B </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Deep Rights </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 feet below the
stratigraphic equivalent of the base of the Q sand as seen in the GC 109 #1 BP1 well encountered at 15,700 TVD </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E<SMALL>XHIBITS</SMALL> A
<SMALL>AND</SMALL> B </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT D </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><I>EPA Execution Version </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TRANSITION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS TRANSITION AGREEMENT (this &#147;<U>Agreement</U>&#148;) is entered into and made effective as of
<B><I>[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</I></B>, 2014 (the &#147;<U>Effective Date</U>&#148;) between SandRidge Operating Company, a Texas corporation, with an address of 123 Robert S. Kerr Avenue, Oklahoma
City, Oklahoma 73102 (&#147;<U>Provider</U>&#148;), and FIELDWOOD ENERGY LLC, a Delaware limited liability company, with an address of 2000 W. Sam Houston Pkwy South, Suite 1200, Houston, Texas 77042 (&#147;<U>Buyer</U>&#148;). Provider and Buyer
are sometimes referred to herein individually as a &#147;<U>Party</U>,&#148; and collectively as the &#147;<U>Parties</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
SandRidge Energy, Inc., a Delaware corporation and an Affiliate of Provider (&#147;<U>SEI</U>&#148;), and SandRidge Holdings, Inc., a Delaware corporation and an Affiliate of Provider (&#147;<U>SHI</U>,&#148; referred to collectively with SEI as
&#147;<U>Seller</U>&#148;), and Buyer entered into an Equity Purchase Agreement (the &#147;<U>Equity Purchase Agreement</U>&#148;), dated as of January&nbsp;6, 2014, under which Seller agreed to sell, and Buyer agreed to purchase, Seller&#146;s
equity in the Acquired Companies (as defined below); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, prior to the Effective Date, Provider provided certain marketing, land
administration and accounting services for the Acquired Companies; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, to effect an orderly transfer of the Acquired Companies
and related assets and operations from Seller to Buyer, Buyer desires that Provider provide certain Services (as hereinafter defined) to Buyer in connection with the Acquired Companies, during the period from the Effective Date until the Termination
Date (as hereinafter defined) (the &#147;<U>Transition Period</U>&#148;), in accordance with the terms of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE,
for and in consideration of the premises and the mutual covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>DEFINITIONS</U>. Unless otherwise defined in this Agreement, capitalized terms in this Agreement have the meanings given to them in the
Equity Purchase Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>SCOPE OF SERVICES</U>. Effective as of Effective Date, and subject to the reasonable instruction of
Buyer, Provider shall provide to Buyer the marketing, land administration and accounting services with respect to the Acquired Companies, substantially consistent with the similar services provided by Provider with respect to the Acquired Companies
in the ordinary course of business immediately prior to the Effective Date. The marketing, land administration and accounting services (each as more particularly described below) shall be referred to individually as the &#147;<U>Service</U>&#148;
and collectively as the &#147;<U>Services</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Provider shall perform all Services under this Agreement under the reasonable
instruction of Buyer&#146;s personnel and shall be entitled to rely upon any written or oral instructions received from Buyer&#146;s designated representatives relating to the Services. During the Transition Period, Provider shall provide sufficient
personnel with appropriate background and experience as may be reasonably necessary to perform the Services in a timely manner. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Services to be provided by Provider to Buyer hereunder are as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Marketing</U>. During the Transition Period, Provider shall
provide marketing, hydrocarbon control, hydrocarbon scheduling, and contract administration services as reasonably requested by Buyer necessary to sell Hydrocarbons from the Hydrocarbon Interests (collectively, the &#147;<U>Marketing
Services</U>&#148;). During the period in which Provider is providing such Marketing Services, Provider shall provide Buyer </P>

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with monthly summaries of the quantities of the Hydrocarbons scheduled and sold for such periods and plant statements (and corresponding hydrocarbon wells) associated with Hydrocarbon production
from the Hydrocarbon Interests. Unless extended by mutual written agreement of Buyer and Provider, Buyer shall assume all Marketing Services beginning with the production month of May 2014; <I>provided</I>, <I>however</I>, that Provider shall
provide such reasonable assistance as requested by Buyer after Buyer assumes the marketing functions and the costs of such further assistance incurred by Provider shall be borne solely by Buyer. All hydrocarbon nominations required for the
production month for which Buyer shall assume Marketing Services shall be made by Buyer. During the Transition Period, Provider may sell Hydrocarbons from the Hydrocarbon Interests to Provider&#146;s Affiliate marketing companies without liability
to Buyer relating to or arising out of such sales, <I>provided</I> that the prices obtained by Provider with respect to such sales shall be equivalent to the prices that Provider or its applicable Affiliate(s) would otherwise have obtained from a
third party in a substantially similar arms-length transaction. To the extent Seller or any of Seller&#146;s Affiliates receives proceeds from the sale (from and after the Effective Time) of Hydrocarbons or any other proceeds attributable to the
Acquired Companies or the Hydrocarbon Interests, Seller shall, and shall cause its Affiliates, to (i)&nbsp;promptly remit such proceeds to the applicable Acquired Company and (ii)&nbsp;account to Buyer with respect to such proceeds in order to
provide Buyer with reasonable information regarding the origin thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Land Administration Services</U>. During the Transition
Period, Provider shall provide, under the reasonable instruction of Buyer, all lease, division order and other land administration services (collectively, the &#147;<U>Land Administration Services</U>&#148;) as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) administering and maintaining all leases and agreements relating to the Hydrocarbon Interests; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) maintaining and updating all lease, ownership, contract and property records and databases relating to the Hydrocarbon Interests; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) maintaining and updating all royalty payment and division order reports and databases; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) generating, verifying, processing, approving and signing (<I>provided</I> that Buyer and/or the applicable Acquired Company have granted
Provider a special power of attorney authorizing Provider to sign on behalf of such applicable Person) all internal and external division orders and transfer orders required in the normal course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) identifying, paying and appropriately invoicing all rentals, rights of way, shut-in payments and other payments required by the leases or
other agreements relating to the Hydrocarbon Interests; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) maintaining all land, contract, division of interest, lease files, and other
files relating to the subject land administration functions as well as maintaining any imaging and indexing of such records in the ordinary course of business; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii) performing such other reasonable and customary land administration services as Provider deems necessary to administer or maintain the
leases or agreements relating to the Hydrocarbon Interests. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Accounting Services</U>. During the Transition Period, Provider shall provide, at the
reasonable instruction of Buyer, revenue and expense accounting under accounting principles generally accepted in the United States for services relating to the Hydrocarbon Interests (collectively, the &#147;<U>Accounting Services</U>&#148;) as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Provider shall perform all revenue accounting functions relating to the Hydrocarbon Interests, including the disbursement of
revenue proceeds to all working interest, third party, royalty and overriding royalty owners as well as all rental, severance or production taxes and right of way payments and any and all leasehold, minimum or advance payments due in the normal
course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Provider shall comply with all state and federal regulatory reporting and filing requirements, including any
reports required by the regulatory agencies (including the BOEM and/or Bureau of Safety and Environmental Enforcement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) Provider
shall perform all expenditure accounting functions relating to the Hydrocarbon Interests, including the payment of all invoices and subsequent billing of same to all working interest owners. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) Provider shall prepare monthly gas and oil balancing and payout statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) Provider shall provide any system support services necessary to extract electronic data of accounting, lease, division of interest and
production information where currently available from Seller&#146;s operational systems in Seller&#146;s current format or other reasonable format as requested by Buyer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) To the extent known by Seller, Provider shall provide all information and documentation to allow Buyer to identify all known parties for
which Seller is currently holding funds in suspense for the period from Effective Date to Termination Date, together with the production history attributable to such funds and such other information as reasonably necessary to allow Buyer to assume
payment obligations and/or discharge its legal requirements to timely escheat such funds to any applicable governmental agencies for such funds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii) Provider shall provide sufficient electronic data (to the extent such electronic data is currently available) to provide for the
allocation of facility and/or field costs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Buyer shall cooperate with Provider by disclosing to Provider Buyer&#146;s receipt of monies
and payment of invoices during the Transition Period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>LIMITATION ON SERVICES</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary in this Agreement, Provider is not obligated to (a)&nbsp;provide any Services that Provider did not
perform with respect to the Hydrocarbon Interests for the account of Seller or Provider (or for the account of any Acquired Company) immediately prior to the Effective Date or (b)&nbsp;perform any such Services at a higher level or quality than, or
in a manner substantially different from, the manner in which Provider performed such Services for the account of Seller or Provider (or for the account of any Acquired Company) immediately prior to the Effective Date. Buyer shall have no right at
any time to control or supervise Provider or its employees in their performance hereunder or as to the manner, means, or method in which the Services are performed, and Buyer shall have no authority to terminate or discipline any of Provider&#146;s
employees. The detailed manner, means and method of performing the Services shall be under the control of Provider. Notwithstanding the foregoing, Provider may, but will not be obligated to, hire any additional employees, replace any employees who
quit Provider&#146;s employment and/or retain or acquire any outside or additional assistance, equipment, computer programs, or data to enable Provider to provide the Services. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>COOPERATION OF BUYER; ACCESS TO BUYER&#146;S SYSTEMS; SUFFICIENT FUNDS</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) In order to enable Provider to provide the Services, Buyer shall cooperate with and provide any information or services required by
Provider in connection with Provider&#146;s performance of the Services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Buyer shall provide reasonable access to Provider and its
employees during the Transition Period to Buyer&#146;s facilities and the Hydrocarbon Interests as needed to perform the Services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)
Notwithstanding the definition of &#147;Services&#148; or any other provision to the contrary set forth in this Agreement, Provider shall have no obligation to pay any amounts on Buyer&#146;s (or any Acquired Company&#146;s) behalf (or for
Buyer&#146;s or any Acquired Company&#146;s account) unless and until sufficient funds covering such amounts have been made available to Provider (by Buyer). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>TERMINATION</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Termination</U>.
Unless extended by mutual agreement of Buyer and Provider, this Agreement commences on the Effective Date and shall terminate on the earlier to occur of (i)&nbsp;the completion of the Services for the production month of April 2014, (ii)&nbsp;the
date on which Provider delivers written notice to Buyer of Buyer&#146;s failure to cure, with respect to (A)&nbsp;any breach of Buyer of its obligation to make any payments under paragraphs 6, 7 and 8 that is not cured within five (5)&nbsp;days
after Buyer&#146;s receipt of written notice of such breach or (B)&nbsp;any breach of Buyer of any of its other material obligations hereunder that is not cured within thirty (30)&nbsp;days after Buyer&#146;s receipt of a written notice of such
breach (<I>provided</I> that such termination under this subparagraph 5(a)(ii) shall not prejudice any other rights that Provider may have at law or in equity) and (iii)&nbsp;June&nbsp;30, 2014 (the &#147;<U>Termination Date</U>&#148;). In addition
to the foregoing, the Parties understand and agree that (x)&nbsp;Provider shall provide the Services for the production months of March and April, 2014 and Buyer shall assume all such Services for the production month of May 2014, (y)&nbsp;the
Accounting Services and Land Administrative Services performed by Provider shall be performed, in part, for such production months after the end of such production months, and (z)&nbsp;in no event shall Provider be required to perform Services
beyond June&nbsp;30, 2014 unless such Services are extended by mutual agreement of Buyer and Provider. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Survival</U>.
Notwithstanding anything to the contrary in this Agreement, the terms of subparagraphs 5(b) and 5(c) and paragraphs 10, 12, 13, 16, 18 and 23 shall survive indefinitely the termination or expiration of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Effect of Expiration or Termination</U>. Upon termination or expiration of this Agreement, Buyer shall pay to Provider all monies due
to Provider hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>REIMBURSEMENT</U>. Buyer shall reimburse Provider for all out-of-pocket costs and expenses (including
overhead charges billed by third party operators, operating costs, capital expenditures, production taxes and any third party costs or expenses reasonably incurred by Provider in performing the Services) (a)&nbsp;associated with the Hydrocarbon
Interests during the Transition Period and (b)&nbsp;otherwise incurred in providing the Services during the Transition Period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.
<U>FEES</U>. Buyer shall, in addition to other amounts owed under this Agreement, pay Provider an amount equal to the sum of one hundred thousand dollars (U.S. $100,000) per calendar month during the Transition Period (the &#147;<U>Service
Fee</U>&#148;), in exchange for the Services performed by Provider hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>PAYMENT PROCEDURES</U>. All amounts owing by either Party to the other Party under this
Agreement shall be paid by wire transfer of immediately available funds in U.S. dollars sent to the bank and account designated by the receiving Party within ten (10)&nbsp;days after receipt of a reasonably detailed invoice therefor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>LATE PAYMENTS</U>. All amounts due and payable under this Agreement shall accrue simple interest from the first date on which such
amounts are payable hereunder until the date the payment is received by the owed Party, at the lesser of (a)&nbsp;the prime rate published in the <I>Wall Street Journal</I> following the first Business Day of each succeeding calendar month and
(b)&nbsp;the maximum rate of interest allowed by Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10. <U>DISCLAIMER OF WARRANTIES</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Notwithstanding any other terms in this Agreement, Provider, on its behalf and on behalf of its Affiliates and its and their respective
directors, officers, partners, members, owners, employees, contractors or agents (collectively, &#147;<U>Provider Group</U>&#148;), makes no, and specifically disclaims any, representations and warranties, express or implied, (i)&nbsp;with respect
to the performance of the Services, including any warranties of merchantability or fitness for a particular purpose, (ii)&nbsp;relating to the results to be obtained from the Services, and (iii)&nbsp;that the Services are error-free or
non-interruptible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Provider Group shall have no liability (including any liability for the acts and omissions of any member of
Provider Group) to Buyer for or in connection with any and all claims, demands, suits, causes of action, losses, damages, liabilities, obligations, costs and expenses (including attorneys&#146; fees and costs of litigation) (collectively,
&#147;<U>Claims</U>&#148;) arising out of, resulting from or related to any of the Services performed by Provider Group or any actions taken by Buyer in respect of or in reliance on the Services, except to the extent of the gross negligence and/or
willful misconduct of Provider Group in performing Provider&#146;s obligations under this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) AS BETWEEN PROVIDER AND BUYER,
NOTWITHSTANDING ANYTHING CONTAINED IN THIS AGREEMENT TO THE CONTRARY, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, EXEMPLARY, OR CONSEQUENTIAL DAMAGES, LOST PROFITS OR OTHER BUSINESS
INTERRUPTION DAMAGES IN TORT, CONTRACT, OR OTHERWISE UNDER, OR ON ACCOUNT OF THIS AGREEMENT OR THE PROVISION OF THE SERVICES. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11.
<U>COMPLIANCE WITH LAW AND CONTRACTS</U>. Each Party shall comply, at its own expense, with the provisions of Law that may be applicable to its performance under this Agreement. Nothing in this Agreement shall require Provider to perform or cause to
be performed any Services in a manner that would constitute a violation of any applicable Law, or constitute a breach or default under any applicable contract, indenture, or other agreement to which Provider is a party or subject or by which
Provider may be bound. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <U>INDEMNIFICATION</U>. Notwithstanding any other terms in this Agreement, Buyer hereby releases Provider and
any other member of Provider Group from, and shall fully protect, defend, indemnify and hold harmless Provider and any other member of Provider Group from and against, any and all Claims arising out of, resulting from or related to the Services,
including any and all Claims relating to (a)&nbsp;injury or death of any person(s) whomsoever, (b)&nbsp;damages to or loss of any property or resources, (c)&nbsp;breach of contract or (d)&nbsp;common law causes of action such as negligence, strict
liability, nuisance or trespass. This indemnity and defense obligation applies REGARDLESS OF FAULT and regardless of cause or of any negligent acts or omissions (including sole negligence, concurrent negligence or strict liability), breach of duty
(statutory or otherwise), or other fault of any member of Provider Group, or any pre-existing defect of any materials or equipment, except to the extent of the gross negligence and/or willful misconduct of any member of Provider Group. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <U>COMPLIANCE WITH EXPRESS NEGLIGENCE RULE</U>. ALL RELEASES, LIMITATIONS ON LIABILITY AND
INDEMNITIES CONTAINED IN THIS AGREEMENT, INCLUDING THOSE IN PARAGRAPHS 10 AND 12, SHALL APPLY IN THE EVENT OF THE SOLE, JOINT AND/OR CONCURRENT NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT OF THE PARTY WHOSE LIABILITY IS RELEASED, DISCLAIMED, LIMITED
OR INDEMNIFIED. THE PARTIES ACKNOWLEDGE THAT THIS STATEMENT COMPLIES WITH THE EXPRESS NEGLIGENCE RULE AND IS &#147;CONSPICUOUS.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14.
<U>ASSIGNABILITY</U>. Neither Buyer nor Provider shall assign or sublease any rights or obligations under this Agreement without the prior written consent of the non-assigning Party, except to an Affiliate of the assigning Party. This restriction
shall not affect Provider&#146;s right to engage Provider&#146;s Affiliates and contractors and their respective employees and personnel to perform the Services. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. <U>FORCE MAJEURE</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
If any Party is rendered unable, wholly or in part, by Force Majeure (as defined in subparagraph 15(c) herein) to carry out its obligations under this Agreement, other than obligations to make money payments, that Party shall give the other Party
prompt written notice of the Force Majeure with reasonably full particulars; thereupon, the obligations of the Party giving notice, so far as they are affected by Force Majeure, shall be suspended during, but no longer than, the continuance of the
Force Majeure. The affected Party shall use all reasonable diligence to remove the Force Majeure situation as quickly as possible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
The requirement that any Force Majeure shall be remedied with all reasonable dispatch shall not require the settlement of strikes, lockouts, or other labor difficulty by the Party involved, contrary to its wishes; the handling of such difficulties
shall be entirely within the discretion of the Party concerned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The term &#147;<U>Force Majeure</U>&#148; as herein employed shall
mean an act of God, strike, lockout, or other industrial disturbance, act of the public enemy, epidemics, war, terrorism, blockade, public riot, lightning, fire, storm, flood, explosion, earthquake, nuclear accident, governmental action,
governmental delay, restraint or inaction, unavailability of equipment, and any other cause, whether of the kind specifically enumerated above or otherwise, which is not reasonably within the control of the Party claiming suspension. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. <U>EQUITY PURCHASE AGREEMENT</U>. This Agreement is made in accordance with and is subject to the terms and conditions of the Equity
Purchase Agreement, and the terms, covenants and conditions of the Equity Purchase Agreement are incorporated herein by reference. Notwithstanding the foregoing, if there is a conflict between the provisions of the Equity Purchase Agreement and this
Agreement, the provisions of this Agreement control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. <U>BUSINESS RECORDS TRANSFER AND AUDIT RIGHTS</U>. Within forty-five
(45)&nbsp;Business Days after the latest Termination Date, Provider shall make available to Buyer any books and records (subject to the limitations contained in this Agreement and the Equity Purchase Agreement) related to the Services provided
hereunder for pickup from Provider&#146;s offices during normal business hours. Buyer has a right for a period of one (1)&nbsp;year after the Termination Date (the &#147;<U>Audit Period</U>&#148;) to conduct, during normal business hours upon at
least thirty (30)&nbsp;days&#146; prior notice, an audit of Provider&#146;s records to the extent relating to the Services. Provider shall retain all its records relating to the Services </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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performed hereunder for no less than one (1)&nbsp;year after the Termination Date, and if audit issues are timely raised during the Audit Period, Provider shall retain such records until all such
issues are resolved by agreement of the Parties, or as otherwise provided by Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18. <U>GOVERNING LAW</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(a) <B>THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF TEXAS WITHOUT GIVING EFFECT TO PRINCIPLES THEREOF RELATING TO CONFLICTS OF LAW RULES THAT WOULD DIRECT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. EACH PARTY HERETO WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY DISPUTE IN CONNECTION
WITH OR RELATING TO THIS AGREEMENT OR ANY MATTERS DESCRIBED OR CONTEMPLATED HEREIN AND AGREES TO TAKE ANY AND ALL ACTION NECESSARY OR APPROPRIATE TO EFFECT SUCH WAIVER. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(b) <B>SUBJECT TO THE PROVISIONS OF THE EQUITY PURCHASE AGREEMENT, BUYER AND PROVIDER CONSENT TO PERSONAL JURISDICTION IN ANY LEGAL
ACTION, SUIT OR PROCEEDING WITH RESPECT TO THIS AGREEMENT IN ANY COURT, FEDERAL OR STATE, WITHIN HARRIS COUNTY, TEXAS, HAVING SUBJECT MATTER JURISDICTION AND WITH RESPECT TO ANY SUCH CLAIM, BUYER AND PROVIDER IRREVOCABLY WAIVE, TO THE FULLEST EXTENT
PERMITTED BY LAW, ANY CLAIM, OR ANY OBJECTION THAT BUYER OR PROVIDER MAY NOW OR HEREAFTER HAVE, THAT VENUE OR JURISDICTION IS NOT PROPER WITH RESPECT TO ANY SUCH LEGAL ACTION, SUIT OR PROCEEDING BROUGHT IN SUCH COURT IN HARRIS COUNTY, TEXAS,
INCLUDING ANY CLAIM THAT SUCH LEGAL ACTION, SUIT OR PROCEEDING BROUGHT IN SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM AND ANY CLAIM THAT BUYER OR PROVIDER IS NOT SUBJECT TO PERSONAL JURISDICTION OR SERVICE OF PROCESS IN HARRIS COUNTY,
TEXAS. BUYER AND PROVIDER AGREE THAT EXCEPT WITH REGARD TO ACTIONS FOR ENFORCEMENT OF A JUDGMENT, (i)&nbsp;THE FEDERAL OR STATE COURTS WITHIN HARRIS COUNTY, TEXAS WILL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE DISPUTES ARISING OUT OF OR
RELATING IN ANY WAY TO THIS AGREEMENT, AND (ii)&nbsp;NO ACTION OR PROCEEDING WILL BE FILED IN ANY OTHER COURT. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19. <U>EXECUTION IN
COUNTERPARTS</U>. This Agreement may be executed in one or more counterparts, either originally or by electronic reproduction, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have
been signed by and delivered to each of the Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20. <U>INDEPENDENT CONTRACTOR</U>. In its performance of the Services, Provider
shall be considered an independent contractor, and in no event shall either Party be deemed a partner, co-venturer or agent of the other Party. Except as authorized herein or in writing by Buyer from time to time, Provider is not an agent of Buyer
and shall have no authority to represent Buyer as to any matters. This Agreement is a services agreement only and does not convey to Buyer any right, title or interest in or to any assets of Provider. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21. <U>NO RESTRICTIONS</U>. Nothing contained in this Agreement shall prevent either Buyer or Provider from engaging in any business or
purchase of any property, whether or not in the vicinity of the Hydrocarbon Interests on in competition with the business of the other Party. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22. <U>NOTICES</U>. All notices required or permitted hereunder shall be in writing and deemed
sufficiently given for all purposes hereof if (a)&nbsp;delivered in person, by courier or by registered or certified United States Mail to the Person to be notified, with receipt obtained, or (b)&nbsp;sent by facsimile or electronic transmission
(with confirmed receipt in the case of electronic transmission), in each case to the appropriate address or number as set forth below. Each notice shall be deemed effective on receipt by the addressee as aforesaid; <I>provided</I> that notice
received by facsimile or electronic transmission after 5:00 p.m. at the location of the addressee of such notice shall be deemed received on the first Business Day following the date of such electronic receipt. Notices to Provider shall be addressed
to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">SandRidge Operating Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">123 Robert S. Kerr Avenue </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Oklahoma City, OK 73102-6406 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Philip T. Warman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile No.: (405)&nbsp;429-5983 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">or at such other address or to such other facsimile or electronic transmission number and to the attention of such other Person as Provider
may designate by written notice to Buyer. Notices to Buyer and the Acquired Companies shall be addressed to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Fieldwood Energy LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">2000 West Sam Houston Pkwy S., Suite 1200 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Houston, TX 77042 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention:
John H. Smith </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile No.: (713)&nbsp;969-1099 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">or at such other address or to such other facsimile or electronic transmission number and to the attention of such other Person as Buyer may
designate by written notice to Provider. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">23. <U>ENTIRE AGREEMENT</U>. This Agreement (including the provisions of the Equity Purchase
Agreement incorporated by reference herein) contains the entire understanding of the Parties relating to the subject matter hereof and supersedes all prior written or oral and all contemporaneous oral agreements and understandings relating to the
subject matter hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the Parties have caused their duly authorized representatives to execute this
Agreement as of the day and year first set forth above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><B>PROVIDER:</B></TD>
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<TD VALIGN="top" COLSPAN="3">SANDRIDGE OPERATING COMPANY</TD>
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<TD VALIGN="bottom" COLSPAN="3">FIELDWOOD ENERGY LLC</TD></TR>
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<TD VALIGN="top">Name:</TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>IGNATURE</SMALL> P<SMALL>AGE</SMALL> <SMALL>TO</SMALL> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">T<SMALL>RANSITION</SMALL> A<SMALL>GREEMENT</SMALL> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g656816ex99_1logo.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SandRidge Announces Sale of Its Gulf of Mexico Business and an Enhanced </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Mid-Continent Growth Strategy </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OKLAHOMA
CITY, Jan. 7, 2014 /PRNewswire/ &#151; Prompted by ongoing drilling success in its onshore operations and a more focused Mid-Continent strategy, SandRidge Energy, Inc. (NYSE: SD) (&#147;SandRidge&#148;) today announced the sale of its Gulf of Mexico
business, which comprises all of SandRidge&#146;s Gulf of Mexico and Gulf Coast properties, to Fieldwood Energy LLC, for $750 million of cash and the assumption of $370 million of abandonment liabilities and subject to customary purchase price
adjustments. SandRidge will also retain a 2.0% overriding royalty interest in certain exploration prospects. The proceeds are expected to be reinvested over time in the company&#146;s Mid-Continent drilling projects. SandRidge also announced revised
guidance for 2014, including production growth of 26% in 2014, an increase from the previous guidance of 12% growth. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Given our status as a premier
operator in the Mid-Continent, where we have established competitive advantages including infrastructure networks, sub-surface knowledge and a best-in-class cost structure, we have elected to further focus our efforts into developing this area.
Based on our confidence in the asset base, we will increase the pace of development in our six county de-risked focus area where we have over a decade of drilling locations,&#148; commented James Bennett, SandRidge&#146;s President and CEO. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Bennett further commented, &#147;This transaction provides us with pro-forma liquidity of over $2.0 billion, while maintaining a leverage ratio under
3.0x. Our growing cash flow plus the availability of additional reserves based borrowings are envisioned to fund our growth strategy. SandRidge is now a high growth, Mid-Continent focused company.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In 2014, the company will redeploy the capital expenditures that were previously allocated to Gulf of Mexico development into its Mid-Continent assets.
SandRidge plans to add three additional rigs during the second quarter of the year, resulting in the drilling of approximately 30 additional gross wells compared to the previous budget. The company now expects to exit 2014 with 29 rigs operating in
its Mid-Continent acreage, where it continues to discover, delineate and develop new, high rate-of-return opportunities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company is updating 2014
guidance provided on November&nbsp;5, 2013 to adjust for the impact of the divestiture.&nbsp;The company expects to produce 29.3 MMBoe in 2014, which includes 1.0 MMBoe of production from Gulf of Mexico assets prior to the closing of the
transaction. This compares to pro-forma 2013 estimated production of 22.4 MMBoe, after adjusting for divested Gulf of Mexico and Permian properties, and results in 26% organic year-over-year production growth. The company anticipates capital
expenditures of $1.475 billion in 2014. The redeployment of offshore capital expenditures is expected to result in 2014 production of 23.2 MMBoe in the Mid-Continent, representing production growth of 37% over estimated 2013 levels. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The assets divested had proved reserves at December&nbsp;1, 2013 of 29 MMBbls of liquids and 168 Bcf of natural gas, as determined by Netherland,
Sewell&nbsp;&amp; Associates, and daily production of approximately 23.5 MBoe/d over the past month, of which approximately 48% was natural gas. The 2.0% overriding interest SandRidge will retain in exploration projects encompasses the deep Miocene
prospects in Green Canyon 65 (Bullwinkle area) and South Pass 60 blocks. The transaction is expected to close during the first quarter of 2014, subject to customary closing conditions and will have an effective date of December&nbsp;1, 2013. RBC
Richardson Barr acted as financial advisor to the company in connection with the transaction. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company will host a conference call to discuss these results on&nbsp;Tuesday, January&nbsp;7,
2014&nbsp;at&nbsp;8:00am CST. The telephone number to access the conference call from within the U.S. is 866-318-8614 and from outside the U.S. is 617-399-5133. The passcode for the call is 97031334. An audio replay of the call will be available
from January&nbsp;7, 2014&nbsp;until&nbsp;11:59 pm CST&nbsp;on&nbsp;February 6, 2014. The number to access the conference call replay from within the U.S. is 888-286-8010 and from outside the U.S. is 617-801-6888. The passcode for the replay is
38026916. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A live audio webcast of the conference call as well as presentation slides to be viewed in conjunction with the above announcement are
available on the company&#146;s website, <U>www.sandridgeenergy.com</U>, under Investor Relations/ Presentations&nbsp;&amp; Events. Additional Guidance detail is available on the company&#146;s website under Investor Relations/Guidance. The webcast
and slides will be archived on the company&#146;s website for 30 days.</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Cautionary Note to Investors: </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>This press release includes &#147;forward-looking statements&#148; within the meaning of Section&nbsp;27A of the Securities Act of 1933, as amended, and
Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, the information appearing under the heading &#147;Operational Guidance.&#148; These statements express a belief, expectation or intention and are
generally accompanied by words that convey projected future events or outcomes. The forward-looking statements include projections and estimates of drilling plans, oil and natural gas production, and capital spending. We have based these
forward-looking statements on our current expectations and assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we
believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, including the volatility of oil and natural gas
prices, our success in discovering, estimating, developing and replacing oil and natural gas reserves, actual decline curves and the actual effect of adding compression to gas wells, the availability and terms of capital, the ability of
counterparties to transactions with us to meet their obligations, our timely execution of hedge transactions, credit conditions of global capital markets, changes in economic conditions, the amount and timing of future development costs, the
availability and demand for alternative energy sources, regulatory changes, including those related to carbon dioxide and greenhouse gas emissions, and other factors, many of which are beyond our control. We refer you to the discussion of risk
factors in (a)&nbsp;Part I, Item&nbsp;1A - &#147;Risk Factors&#148; of our Annual Report on Form 10-K for the year ended December&nbsp;31, 2012 and (b)&nbsp;comparable &#147;risk factors&#148; sections of our Quarterly Reports on Form 10-Q filed
thereafter. All of the forward-looking statements made in this press release are qualified by these cautionary statements. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the
expected consequences to or effects on our company or our business or operations. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking
statements. We undertake no obligation to update or revise any forward-looking statements</I>.<I> </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>About SandRidge Energy: </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production.
SandRidge and its subsidiaries also own and operate gas gathering and processing facilities and conduct marketing operations. In addition, Lariat Services, Inc., a wholly-owned subsidiary of SandRidge, owns and operates a drilling rig and related
oil field services business. SandRidge focuses its exploration and production activities in the Mid-Continent region of the United States. SandRidge&#146;s internet address is <U>www.sandridgeenergy.com</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Contact: </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Duane M. Grubert </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">EVP - Investor Relations and Strategy </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SandRidge Energy, Inc.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">123 Robert S. Kerr Avenue </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Oklahoma City, OK 73102 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(405) 429-5515 </P>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
