<SUBMISSION>
<ACCESSION-NUMBER>0000950134-04-000658
<TYPE>8-K/A
<PUBLIC-DOCUMENT-COUNT>5
<PERIOD>20031223
<ITEMS>2
<ITEMS>7
<FILING-DATE>20040123
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>MARTIN MIDSTREAM PARTNERS LP
<CIK>0001176334
<ASSIGNED-SIC>5171
<IRS-NUMBER>050527861
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K/A
<ACT>34
<FILE-NUMBER>000-50056
<FILM-NUMBER>04539058
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4200 STONE ROAD
<CITY>KILGORE
<STATE>TX
<ZIP>75662
<PHONE>9039836200
</BUSINESS-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>d12019e8vkza.htm
<DESCRIPTION>AMENDMENT NO. 1 TO FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vkza</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<P>
<HR size="4" noshade style="margin-top: -5px">
<HR size="1" noshade style="margin-top: -10px">




<P align="center"><FONT size="4">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION
</FONT>

<DIV align="center"><FONT size="3">Washington, D.C. 20549
</FONT></DIV>

<P align="center"><FONT size="5"><B>FORM 8-K/A</B>
</FONT>

<P align="center"><FONT size="2"><B>AMENDMENT NO. 1 TO</B>
</FONT>
<P align="center"><FONT size="2"><B>CURRENT REPORT</B>
</FONT>
<P align="center"><FONT size="2"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</FONT>
<P align="center"><FONT size="2">Date of report (date of earliest event reported): December&nbsp;23, 2003
</FONT>
<P align="center"><FONT size="6"><B>MARTIN MIDSTREAM PARTNERS L.P.</B>
</FONT>

<DIV align="center"><FONT size="2">(Exact name of Registrant as specified in its charter)</FONT></DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">DELAWARE<BR>
(State of incorporation<BR>
or organization)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
000-50056<BR>
(Commission file number)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">05-0527861<BR>
(I.R.S. employer identification number)</FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">4200 STONE ROAD<BR>
KILGORE, TEXAS<BR>
(Address of principal executive offices)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
75662<BR>
(Zip code)</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">Registrant&#146;s telephone number, including area code: (903)&nbsp;983-6200
</FONT>

<P>
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<P align="center"><FONT size="2">&nbsp;
</FONT>
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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="d12019exv10w1.htm">EX-10.1 Asset Purchase Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="d12019exv10w2.htm">EX-10.2 Terminal Services Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="d12019exv10w3.htm">EX-10.3 Transportation Services Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="d12019exv10w4.htm">EX-10.4 Lubricants & Drilling Fluids Agreement</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<!-- link2 "ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS" -->
<DIV align="left"><A NAME="000"></A></DIV>
<DIV align="left"><A name="a000"></A></DIV>
<P align="left"><FONT size="2"><B>ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS</B>
</FONT>


<P align="left"><FONT size="2"><B>Acquisition</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;23, 2003, Martin Midstream Partners L.P. (&#147;MMLP&#148;) completed the acquisition of marine service assets from Tesoro
Marine Services, L.L.C. (&#147;Tesoro&#148;), a subsidiary of Tesoro Petroleum
Corporation, a refiner and marketer of petroleum products. MMLP purchased
assets associated with Tesoro&#146;s shore based marine activities for $25&nbsp;million
plus approximately $1.8&nbsp;million for Tesoro&#146;s lube oil inventories. The assets
acquired include 13 marine terminals and one inland terminal located along the Gulf Coast from Venice,
Louisiana to Corpus Christi, Texas (as more fully described in
&#147;Terminals Acquired&#148; below), nine tank barges and four
pushboats (as more fully described in &#147;Marine Vessels
Acquired&#148; below) as well
as Tesoro&#146;s lubricant distribution and marketing business. Acquisition
financing was provided through an expansion of MMLP&#146;s existing credit facility
with Royal Bank of Canada from $60&nbsp;million to $80&nbsp;million. After giving effect
to the consummation of this transaction, MMLP&#146;s borrowings under its credit
facility include $25&nbsp;million of previously existing term debt and $40&nbsp;million
of revolving debt, including $27&nbsp;million incurred in connection with the Tesoro
transaction and $3&nbsp;million incurred in connection with the previously announced
acquisition of a terminal and three vessels.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In a parallel transaction, Midstream Fuel Service LLC (&#147;Midstream&#148;) purchased Tesoro&#146;s
fuel oil distribution business for $2&nbsp;million plus approximately $4.8&nbsp;million
for Tesoro&#146;s diesel fuel inventories. Midstream is a
subsidiary of privately held Martin Resource Management Corporation (&#147;MRMC&#148;),
the owner of MMLP&#146;s general partner. MRMC acquired these assets from Tesoro
because fuel oil distribution generates non-qualifying income under Internal
Revenue Service regulations applicable to publicly traded limited partnerships
such as MMLP. However, pursuant to contractual arrangements between MRMC and
MMLP, MMLP is providing marine transportation and storage services to Midstream
Fuel Service LLC. Financing for the assets acquired by MRMC was provided
through an expansion of MRMC&#146;s existing credit facility.
</FONT>

<P align="center"><FONT size="2">1
</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>



<P align="left"><FONT size="2"><B>Terminals Acquired</B>
</FONT>



<P align="left"><FONT size="2"><I>Full Service Terminals</I>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MMLP acquired seven full service terminals
from Tesoro in the acquisition. These terminal facilities distribute and
market lubricants and provide storage and handling services for fuel oil. The
significant difference between these full service terminals and the fuel and
lubricant terminals described below is that the full service terminals generate additional
revenues by providing shore bases to support MMLP&#146;s customer&#146;s operating
activities related to the offshore exploration and production industry. One
typical use for the shore bases is for drilling mud manufacturers to manufacture
and sell drilling mud to the offshore drilling industry. Offshore drilling
companies may also set up service facilities at these terminals to support their
offshore operations.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following is a summary description of these full service
terminals:
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="75%">

<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Terminal</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Location</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Acres</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Tanks</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="5"><FONT size="1"><B>Aggregate Capacity</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="5"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Pelican Island</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Galveston, Texas
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">51.3<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">14<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">57,200 Bbls.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Harbor Island(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Harbor Island, Texas
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">25.5<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">10<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">37,400 Bbls.</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Freeport No.&nbsp;1(2)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Freeport, Texas
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">12.4<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">4<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">8,500 Bbls.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Port O&#146;Connor(3)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Port O&#146;Connor, Texas
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">22.8<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">8<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">7,000 Bbls.</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Sabine Pass(4)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Sabine Pass, Texas
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">23.1<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">11<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">18,100 Bbls.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Cameron &#147;East"(5)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Cameron, Louisiana
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">34.3<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">7<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">33,000 Bbls.</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Cameron &#147;West"(6)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Cameron, Louisiana
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">16.9<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">5<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">19,000 Bbls.</FONT></TD>
</TR>
</TABLE>
</DIV>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade width="18%" align="left"></TD>
</TR>
<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(1)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">A portion of this terminal is located on land owned by a third party and
leased under a lease that expires in January&nbsp;2005 and can be extended
through January&nbsp;2015.
</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(2)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">
A portion of this terminal is located on land owned by a third party and
leased under a lease that expires in May&nbsp;2004.
</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(3)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">This terminal is located on land owned by a third party and leased under
a lease that expires in March&nbsp;2004 and can be extended until through
March&nbsp;2014.
</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(4)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">A portion of this terminal is located on land owned by a third party and
leased under a lease that expires in September&nbsp;2016 and can be renewed
through September&nbsp;2026.
</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(5)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">This terminal is located on land owned by third parties and leased under
leases that expire between March&nbsp;2007 and June&nbsp;2017.
</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(6)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">This terminal is located on land owned by a third party and leased under
a lease that expires in February&nbsp;2008 and can be extended through
February&nbsp;2013.
</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2">2
</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left"><FONT size="2"><I>Fuel and Lubricant Terminals</I>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MMLP acquired six lubricant and fuel oil terminals from Tesoro in the acquisition. These terminals are located in
the Gulf Coast region and provide storage and handling service for fuel oil and lubricants. MMLP also distributes and markets lubricants at these terminals.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following is a summary description of these fuel and lubricant terminals:
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="75%">

<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Terminal</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Location</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Tanks</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="5"><FONT size="1"><B>Aggregate Capacity</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="5"><HR size="1" noshade></TD>
</TR>
        <TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Amelia(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Amelia, Louisiana
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">17<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">14,900 Bbls.</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Berwick(2)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Berwick, Louisiana
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">4<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">24,900 Bbls.</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Intracoastal City(3)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Intracoastal City, Louisiana
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">17<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">34,300 Bbls.</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Venice</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Venice, Louisiana
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">1<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">7,200 Bbls.</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Fourchon(4)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Fourchon, Louisiana
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">7<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">30,100 Bbls.</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Freeport(5)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Freeport, Texas
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">1<br>
</FONT></TD>
    <TD nowrap valign="bottom"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">8,300 Bbls.</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" width="100%"><FONT size="2"><HR size="1" noshade width="18%" align="left"></FONT></TD>
</TR>

<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(1)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">This terminal is located on land owned by a third party and leased under
a lease that expires in January&nbsp;2010.
</FONT></TD>
</TR>



<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(2)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">This terminal is located on land owned by third parties and leased under
a lease that expires in September&nbsp;2007 and can be extended through
September&nbsp;2017.
</FONT></TD>
</TR>
<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(3)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">A portion of this terminal is located on land owned by a third party at
which MMLP throughputs fuel oil pursuant to an agreement that expires in
December&nbsp;2006 and can be extended through December&nbsp;2009.
</FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(4)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">This terminal is located on land owned by a third party at which MMLP
throughputs lubricants and fuel oil pursuant to an agreement that expires
in March&nbsp;2007.
</FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="top">
    <TD width="13%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(5)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="83%"><FONT size="2">MMLP owns tanks and certain other assets located at a terminal owned by
third parties.
</FONT></TD>
</TR>
</TABLE>

<P align="left"><FONT size="2"><I>Inland Terminals</I>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MMLP
acquired an inland terminal from Tesoro which is used for lubricant blending,
storage, packaging and distribution. This terminal is used as MMLP&#146;s central hub for lubricant
distribution where it receives, blends, packages, and ships its lubricants to its
other terminals or directly to customers.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary description of the this inland terminal:
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">

<TR valign="bottom">
    <TD width="16%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Terminal</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Location</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Tanks</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Capacity</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Products</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">Houston(1)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Houston, Texas</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">25</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">331,000 gallons</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lubricants</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Truck loading/</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">unloading</FONT></TD>
</TR>
</TABLE>
</DIV>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR valign="top">
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" width="100%"><FONT size="2"><HR size="1" noshade width="18%" align="left"></FONT></TD>
</TR>

<TR valign="top">
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
      <TD width="1%" nowrap align="left"><FONT size="2">(1)
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="88%"><FONT size="2">This terminal is located on land
owned by a third party at which MMLP throughputs lubricants pursuant to
a month-to-month agreement.
</FONT></TD>
</TR>
</TABLE>

<P align="left"><FONT size="2"><I>Terminal Customers and Revenues</I>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customers for the terminals described above are
primarily oil and gas exploration and production companies and oilfield service
companies such as drilling mud companies, marine transportation companies and
offshore construction companies. Shore bases typically provide logistical
support including the storage and handling of tubular goods, loading and
unloading bulk materials, providing facilities from which major and independent
oil companies can communicate with and control offshore operations, selling
potable water and leasing dockside facilities to companies which provide
complementary products and services such as drilling fluids and cementing
services.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues
are generated from terminals that have shore bases through fees
that are charged to customers under land rental contracts for the use of these
terminal facilities. These contracts generally provide a
fixed land rental fee and additional rental fees that are determined based on a
percentage of the sales value of the products and services delivered from the
shore base. Revenues are also generated through the distribution and marketing of
lubricants. Lubricants are used in the operation of offshore drilling rigs,
offshore production and transmission platforms and various ships and equipment
engaged in marine transportation. As more fully described below in
&#147;Intercompany Agreements&#148;, MRMC and MMLP entered into a terminal services agreement whereby MRMC pays
MMLP for storage and terminalling of fuel oil at these terminal facilities.
</FONT>


<P align="center"><FONT size="2">3
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left"><FONT size="2"><B>Marine Vessels Acquired</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following is a summary description of the marine vessels acquired by MMLP from
Tesoro:
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">

<TR valign="bottom">
    <TD width="27%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Description of</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Class of Equipment</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Number in class</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Capacity/Horsepower</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Products Carried</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Inland tank barges</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="top"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">
8<br>
</FONT></TD>
    <TD nowrap valign="top"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">20,000 bbl and under
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Crude oil,
fuel oil and
gasoline</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Inland tank barges</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="top"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">
1<br>
</FONT></TD>
    <TD nowrap valign="top"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">20,000 &#151; 30,000 bbl
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Crude oil,
fuel oil and
gasoline</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD valign="top"><FONT size="2">Inland pushboats</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="top"><FONT size="2"><br>
</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">
4<br>
</FONT></TD>
    <TD nowrap valign="top"><FONT size="2"><br>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">800 &#151; 1,800 horsepower
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">N/A</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nine
inland tank barges are an average of 39 years old. The
four inland pushboats are an average of 32 years old. While MMLP cannot quantify how long it will be able to continue
to use these assets, it believes it will be able to replace these assets as necessary or be able to use capacity from
MMLP&#146;s previously existing fleet of inland pushboats and tank barges in order to continue to provide its marine transportation
services.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to these acquired marine vessels, the largest marine
transportation customers thereof include major independent oil and gas refining
companies, petroleum marketing companies and,
following the closing of the acquisition of assets from Tesoro, MRMC. The
services provided to these customers are pursuant to spot contracts and term
contracts that typically range from one to 12&nbsp;months in length. In order to
maintain a balance of pricing flexibility and stable cash flow, MMLP strives to
maintain an appropriate mix of spot versus term contracts, based on current
market conditions. As described more fully below in
&#147;Intercompany Agreements,&#148; MRMC and MMLP entered into a transportation
services agreement whereby MRMC pays MMLP for the use of these vessels.
</FONT>

<P align="left"><FONT size="2"><B>Intercompany Agreements</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the closing of the Tesoro asset acquisition,
MMLP entered into the following additional agreements with MRMC:
</FONT>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><I>Terminal Services Agreement </I>&#151; under which MMLP provides
terminalling services to MRMC. The per gallon
throughput fee MMLP charged under this agreement is fixed during the
first year of the agreement and is adjusted annually based on a
price index. The fee was based on comparable market rates for
arms-length negotiated fees. MRMC has agreed
to a minimum annual total throughput, as a result of which, at the
first year fee rate, MMLP will receive at least $2.3&nbsp;million from
MRMC. This agreement has a three-year term,
which began in December&nbsp;2003 and will automatically renew on a
month-to-month basis until either party terminates the agreement by
giving written notice to the other party at least 60&nbsp;days prior to
the expiration of the then-applicable term.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><I>Transportation Services Agreement
</I>&#151; under which MMLP provides
marine transportation services to MRMC. The
per gallon fee charged under this agreement is fixed during the
first year of the agreement and is adjusted annually based upon
mutual agreement of the parties or in accordance with a price
index. The fee was based on comparable market rates for arms-length
negotiated fees. This agreement has a three-year term, which began
in December&nbsp;2003, and will automatically renew for successive
one-year terms unless either party terminates the agreement by
giving written notice to the other party at least 30&nbsp;days prior to
the expiration of the then-applicable term. In addition, within
30-days of the expiration of the then-applicable term, both parties
have the right to renegotiate the rate for the use of our vessels.
If no agreement is reached as to a new rate by the end of the
then-applicable term, the agreement will terminate.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><I>Lubricants and Drilling Fluids Terminal Services
Agreement </I>&#151; under which MRMC provides
terminal services to MMLP. The per gallon handling fee and the
percentage of commissions MMLP is charged under this agreement
is fixed during the initial term of the agreement and is adjusted
annually based on a price index. The handling fee and percentage of
our commissions were based on Tesoro&#146;s historic allocated
costs. MMLP has agreed to a minimum annual total handling quantity
and commission, as a result of which, at the first year fee rate,
MMLP will pay MRMC a minimum of $0.5&nbsp;million.
This agreement has a one-year term, which began in December&nbsp;2003,
and will automatically renew on a year-to-year basis until either
party terminates the agreement by giving written notice to the
other party at least 60&nbsp;days prior to the end of the
then-applicable term.
</FONT></TD>
</TR>
</TABLE>

<P align="left"><FONT size="2"><B>Employees</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MRMC hired 125 former Tesoro employees and 42 former contract employees of Tesoro in connection with the
closing of the Tesoro asset acquisition. Of these 167 employees,
eight are in managerial positions and 159 are in operational
positions with MRMC. These employees will support the operations acquired by us from Tesoro.
</FONT>



<!-- link2 "ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS</B>
</FONT>

<P align="left"><FONT size="2"><b>(a)&nbsp;Financial Statements of Business Acquired</b>
</FONT>


<P align="center"><FONT size="2">4
</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>INDEPENDENT AUDITORS&#146; REPORT</B>
</FONT>
<P align="left"><FONT size="2">Shareholder
</FONT>
<DIV align="left"><FONT size="2">Tesoro Marine Services, L.L.C.
</FONT></DIV>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have audited the accompanying Statement of Revenues and Direct
Operating Expenses of the Acquired
Assets, as defined in the asset purchase agreement between
Tesoro Marine Services, L.L.C. (&#147;Tesoro&#148;), Martin Midstream Partners L.P. and
Martin Operating Partnership L.P. dated October&nbsp;27, 2003 (the &#147;Agreement&#148;) for the year ended
December&nbsp;31, 2002. The Financial Statement is the responsibility of
Tesoro&#146;s management. Our responsibility is to express an opinion on the
Financial Statement based on our audit.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We conducted our audit in accordance with auditing standards generally
accepted in the United States of America. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the
Financial Statement is free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the Financial Statement. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall presentation of the
Financial Statement. We believe that our audit provides a reasonable basis for
our opinion.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Financial Statement was prepared for the
purpose of complying with the rules and regulations of the Securities and
Exchange Commission (for inclusion in Form 8-K of Martin Midstream Partners
L.P.) as described in Note 1 to the Financial Statement and is not
intended to be a complete presentation of the Revenues and Direct Operating
Expenses of the Acquired Assets, as defined in the Agreement.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In our opinion, such Financial Statement presents fairly, in all
material respects, the Revenues and Direct Operating Expenses described in Note
1 to the Financial Statement for the year ended December&nbsp;31, 2002, in
conformity with accounting principles generally accepted in the United States
of America.
</FONT>
<P align="left"><FONT size="2">/s/ KPMG LLP
</FONT>
<P align="left"><FONT size="2">Shreveport, Louisiana<BR>
January&nbsp;12, 2004
</FONT>
<P align="center"><FONT size="2">5
</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2"><B>CERTAIN ASSETS OF TESORO MARINE SERVICES, L.L.C.<BR>
STATEMENTS OF REVENUES AND DIRECT OPERATING EXPENSES<BR>
(Dollars in Thousands)<BR>
YEAR ENDED DECEMBER 31, 2002 AND<BR>
NINE MONTHS ENDED SEPTEMBER 30, 2003 AND SEPTEMBER 30, 2002</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">

<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="7"><FONT size="1"><B>Nine Months Ended</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Year Ended</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="7"><HR size="1" noshade></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>December 31,</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>September 30,</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>September 30,</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>2002</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>2003</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>2002</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>(Unaudited)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>(Unaudited)</B></FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Revenues</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">14,064</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">10,822</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">10,239</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Direct operating expenses:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Cost of products sold</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,959</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,466</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,406</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Operating costs</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10,220</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,366</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,835</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Depreciation and amortization</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,292</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,675</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,633</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Impairment</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,352</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total direct operating expenses</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18,471</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15,859</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">13,874</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Excess of direct operating expenses over Revenues</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">(4,407</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">(5,037</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">(3,635</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</DIV>
<P align="center"><FONT size="2">See accompanying notes to statements of revenues and direct operating
expenses.</FONT>

<P align="center"><FONT size="2">6
</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>CERTAIN ASSETS OF TESORO MARINE SERVICES, L.L.C.</B>
</FONT>

<P align="center"><FONT size="2"><B>NOTES TO STATEMENTS OF REVENUES AND DIRECT OPERATING EXPENSES<BR>
YEAR ENDED DECEMBER 31, 2002 AND<BR>
NINE MONTHS ENDED SEPTEMBER 30, 2003 AND SEPTEMBER 30, 2002</B>
</FONT>

<P align="left"><FONT size="2"><B>1. BASIS OF PRESENTATION</B>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;23, 2003, Martin Midstream Partners L.P. (&#147;MMLP&#148;) announced
that it had completed the acquisition of certain marine services assets (the
&#147;Marine Assets&#148;) from Tesoro Marine Services, L.L.C. (&#147;Tesoro&#148;), a subsidiary
of Tesoro Petroleum Corporation, a refiner and marketer of petroleum products.
MMLP purchased the Marine Assets for $25.0&nbsp;million plus $1.8&nbsp;million for
Tesoro&#146;s lubricant inventories. The Marine Assets acquired include 13 marine
terminals and one inland terminal located along the Gulf Coast from Venice, Louisiana to Corpus
Christi, Texas, nine inland tank barges and four inland pushboats as well as
Tesoro&#146;s lubricant distribution and marketing business. The acquisition closed
on December&nbsp;23, 2003.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In a parallel transaction, Midstream Fuel Service LLC purchased Tesoro&#146;s
fuel oil distribution business for $2.0&nbsp;million plus
$4.8&nbsp;million for Tesoro&#146;s diesel fuel inventories. Midstream Fuel
Service LLC is a subsidiary of privately held Martin Resource Management
Corporation (&#147;MRMC&#148;), the owner of MMLP&#146;s general partner. MRMC acquired these
assets from Tesoro because fuel oil distribution generates non-qualifying
income under Internal Revenue Service regulations applicable to publicly traded
limited partnerships such as MMLP. This acquisition also closed on December&nbsp;23,
2003.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Statement of Revenues and Direct Operating Expenses associated with
the Marine Assets was derived from Tesoro&#146;s accounting records. Tesoro did not
account for the Marine Assets or their related operations separately. As a
result, management has made allocations of certain direct operating expenses in
order to reflect the portion of such expenses related to the Marine Assets. In
making such allocations, management considered such factors as historical
account groupings and descriptions as well as employee time surveys.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain other expense items not directly associated with the Marine
Assets, such as income taxes and corporate overhead, were recorded in the
accounting records of the Marine Assets, but are not included in the statement
of revenues and direct operating expenses. Any allocation of such costs would
be arbitrary and would not be indicative of what such costs actually would have
been had the Marine Assets been operated as a stand-alone entity.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following the December&nbsp;23, 2003 acquisition of the assets by MMLP, MMLP
entered into new contractual agreements with Midstream Fuel Service LLC
whereby MMLP will charge Midstream Fuel Service LLC for terminal and marine
transportation services. Such arrangements are expected to have a significant
effect on the revenues of the operations related to the Marine Assets.
Therefore, the historical financial information of the operations related to
the Marine Assets are not indicative of the acquired business going forward.
</FONT>
<P align="left"><FONT size="2"><B>2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</B>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Use of Estimates </I></B>&#151; Management has made a number of estimates and
assumptions in the preparation of the financial statements in accordance with
accounting principles generally accepted in the United States of America.
Actual results could differ from those estimates.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Revenue
Recognition </I></B>&#151; The Marine Assets recognize revenues from product sales
and services upon deliveries to its customers.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Depreciation </I></B>&#151; Depreciation is computed using the straight-line method
over the estimated useful life of the individual assets, generally three to 20
years.
</FONT>
<P align="center"><FONT size="2">7
</FONT>
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Impairment </I></B>&#151; The recoverability of long-lived assets is reviewed when
circumstances indicate that the carrying amount of the asset may not be
recoverable, in accordance with Statement of Financial Standards No.
144,<I>&#147;Accounting for the Impairment of Disposal of Long-Lived Assets.&#148; </I>The
carrying value of a long-lived asset is considered impaired when the
anticipated undiscounted cash flow from use of such asset is separately
identifiable and is less than its carrying value. In that event, a loss is
recognized based on the amount by which the carrying value exceeds the fair
value of the long-lived asset.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
pre&#150;acquisition non&#150;cash impairment charge of $2.4 million
was recorded for the nine months ended September&nbsp;30, 2003
against the Marine Assets based
on the fair value of such assets as reflected in the purchase price paid by
MMLP, relative to the historic book value thereof.</FONT>

<P align="left"><FONT size="2"><B>3. OPERATING, INVESTING AND FINANCING CASH FLOW INFORMATION</B>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Significant operating, investing or financing cash flow information
consists of the following:
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="95%">

<TR valign="bottom">
    <TD width="74%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="7"><FONT size="1"><B>Nine Months</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="7"><FONT size="1"><B>Ended</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Year Ended</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="7"><FONT size="1"><B>September 30,</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>December 31,</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="7"><HR size="1" noshade></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>2002</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>2003</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>2002</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Additions to property, plant and equipment</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">2,764</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">690</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">2,584</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Proceeds from sale of property, plant and equipment</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">792</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>









<P align="center"><FONT size="2">8
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="left"><FONT size="2"><B>(b) <i>Pro Forma</i> Financial Information</B>
</FONT>

<P align="center"><FONT size="2"><B>MARTIN MIDSTREAM PARTNERS L.P.</B>
</FONT>

<P align="center"><FONT size="2"><B>UNAUDITED PRO FORMA FINANCIAL STATEMENTS</B>
</FONT>

<P align="left"><FONT size="2"><B>Introduction</B>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following unaudited pro forma financial statements have been derived
from the historical consolidated and combined financial statements of Martin
Midstream Partners L.P. (&#147;MMLP&#148;) and Martin Midstream Partners Predecessor (as
applicable) set forth in MMLP&#146;s previous filings with the Securities and Exchange Commission and the historical statements of revenues and direct
operating expenses of certain assets of Tesoro Marine Services,
L.L.C. (&#147;Tesoro&#148;), set forth elsewhere herein. The pro forma financial statements should be read in
conjunction with the accompanying notes to pro forma financial
statements set forth elsewhere herein and
with the historical financial statements and related notes set forth
herein or in MMLP&#146;s previous filings with the Securities and Exchange
Commission.</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following pro forma financial statements give pro forma effect to:
</FONT>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">the acquisition of the Tesoro assets for $27.6&nbsp;million which occurred
on December&nbsp;23, 2003;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">the borrowing of $27.0&nbsp;million under MMLP&#146;s expanded credit facility
in order to finance the acquisition from Tesoro;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">the execution of several agreements between
the operating subsidiary of MMLP and Martin Resource Management
Corporation through a direct subsidiary (&#147;Martin Resource
Management&#148;) as a result of the Tesoro acquisition; and
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">for the pro forma statement of operations for the year ended December
31, 2002, MMLP&#146;s initial public offering of 2,900,000 common units at an
offering price of $19.00 per common unit and the transactions
related to the formation of MMLP in November 2002.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The pro forma adjustments are based upon currently available information
and certain estimates and assumptions, and therefore the actual adjustments may
differ from the pro forma adjustments. However, management believes that the
assumptions used provide a reasonable basis for presenting the significant
effects of the acquisition and related transactions as contemplated and that the pro forma adjustments give appropriate effect to
those assumptions and are properly applied in the pro forma financial
statements. The pro forma financial statements may not be indicative of the
results that actually would have occurred if MMLP had completed the acquisition
on the date indicated. In addition, the pro forma financial
statements are not necessarily indicative of the results of MMLP&#146;s future
operations.
</FONT>
<P align="center"><FONT size="2">9
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>MARTIN MIDSTREAM PARTNERS L.P.<BR>
(Successor to Martin Midstream Partners Predecessor)</B>
</FONT>

<P align="center"><FONT size="2"><B>UNAUDITED PRO FORMA CONSOLIDATED BALANCE SHEET<BR>
September&nbsp;30, 2003<BR>
(Dollars in Thousands)</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">

<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Pro Forma</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Pro</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Martin Midstream</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Adjustments &#151;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Forma &#151;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Partners L.P.</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Acquisition</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Acquisition</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center" colspan="15"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>ASSETS</B></FONT></DIV></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Cash</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">5,956</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">27,000</FONT></TD>
    <TD nowrap><FONT size="2">(a)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">4,552</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(800</FONT></TD>
    <TD nowrap><FONT size="2">)(b)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(27,604</FONT></TD>
    <TD nowrap><FONT size="2">)(c)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Accounts and other receivable</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18,187</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18,187</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Product exchange receivables</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,285</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,285</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Inventories</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">17,248</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,792</FONT></TD>
    <TD nowrap><FONT size="2">(c)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,040</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Due from affiliates</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">795</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">795</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Other current assets</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">352</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">352</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total current assets</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">44,823</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">388</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">45,211</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Property, plant &#038; equipment, at cost</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">84,691</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">25,812</FONT></TD>
    <TD nowrap><FONT size="2">(c)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">110,503</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Accumulated depreciation</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(30,934</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(30,934</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Property, plant and equipment, net</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">53,757</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">25,812</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">79,569</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Goodwill</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,922</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,922</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Investment in unconsolidated entities</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">716</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">716</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Other assets, net</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,056</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">800</FONT></TD>
    <TD nowrap><FONT size="2">(b)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,856</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total assets</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">103,274</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">27,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">130,274</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
    <TD align="center" colspan="15"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>LIABILITIES AND PARTNERS&#146; CAPITAL</B></FONT></DIV></TD>
</TR>
<TR valign="bottom">
<TD align="center" colspan="15"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>&nbsp;</B></FONT></DIV></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Trade and other accounts payable</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">11,850</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2"> &#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">11,850</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Product exchange payables</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,478</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,478</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Due to affiliates</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">770</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">770</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Other accrued liabilities</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,278</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,278</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total current liabilities</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">22,376</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">22,376</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Long term debt</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">35,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">27,000</FONT></TD>
    <TD nowrap><FONT size="2">(a)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">62,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total liabilities</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">57,376</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">27,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">84,376</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
<TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Partners&#146;
Capital</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
<TD colspan="2" align="left"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Common Units</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">47,917</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">47,917</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Subordinated units</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,993</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,993</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">General partner</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(26</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(26</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total partners&#146; capital</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">45,898</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">45,898</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">103,274</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">27,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">130,274</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">See accompanying notes to the unaudited pro forma financial statements.
</FONT>
<P align="center"><FONT size="2">10
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>MARTIN MIDSTREAM PARTNERS L.P.<BR>
(Successor to Martin Midstream Partners Predecessor)</B>
</FONT>

<P align="center"><FONT size="2"><B>UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS<BR>
Nine Months Ended September&nbsp;30, 2003<BR>
(Dollars in Thousands, except per unit amounts)</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">

<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Pro Forma</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Pro</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Martin Midstream</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Adjustments &#151;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Forma &#151;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Partners L.P.</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Tesoro</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Acquisition</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Acquisition</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Revenues:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Marine transportation</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">19,582</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2"> &#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">3,875</FONT></TD>
    <TD nowrap><FONT size="2">(k)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">23,457</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Terminalling</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,038</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,244</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,815</FONT></TD>
    <TD nowrap><FONT size="2">(l)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">11,097</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Product Sales:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">LPG distribution</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">95,335</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">95,335</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Fertilizer</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,143</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,143</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Terminalling</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,578</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,578</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">115,478</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,578</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">122,056</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total revenues</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">140,098</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10,822</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,690</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">156,610</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Costs and expenses:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Cost of products sold:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">LPG distribution</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">92,116</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">92,116</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Fertilizer</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">17,579</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">17,579</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Terminalling</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,466</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,466</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">109,695</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,466</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">114,161</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Expenses:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Operating expenses</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14,908</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,366</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(666</FONT></TD>
    <TD nowrap><FONT size="2">)(o)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">21,162</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(973</FONT></TD>
    <TD nowrap><FONT size="2">)(q)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">527</FONT></TD>
    <TD nowrap><FONT size="2">(r)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Selling, general and
administrative</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,576</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">210</FONT></TD>
    <TD nowrap><FONT size="2">(m)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,786</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Depreciation and amortization</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,515</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,675</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">13</FONT></TD>
    <TD nowrap><FONT size="2">(n)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,203</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Impairment(1)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,352</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,352</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total costs and expenses</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">132,694</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15,859</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(889</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">147,664</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Operating income (loss)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,404</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(5,037</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,579</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,946</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Other income (expenses):</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Equity in earnings of
unconsolidated entities</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,308</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,308</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Interest expense</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,442</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(300</FONT></TD>
    <TD nowrap><FONT size="2">)(b)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(2,517</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(775</FONT></TD>
    <TD nowrap><FONT size="2">)(p)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Other, net</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">68</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">68</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total other income
(expense)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">934</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,075</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(141</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Net income (loss)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">8,338</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">(5,037</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">5,504</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">8,805</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">General partners&#146; interest in net income</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">167</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">176</FONT></TD>
    <TD nowrap><FONT size="2">(s)</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Limited partners&#146; interest in net income</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">8,171</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">8,629</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Net income per limited partner unit</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">1.14</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">1.21</FONT></TD>
    <TD nowrap><FONT size="2">(s)</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Weighted average limited partner units</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,153,362</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,153,362</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>
<P>
<HR size="1" noshade width="18%" align="left">
<DIV align="center">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">(1)
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">This represents a pre-acquisition non-cash
impairment charge taken by Tesoro against the fixed assets acquired
by MMLP based on the fair value of such assets as reflected in the
purchase price paid by MMLP, relative to the historic book value
thereof.</FONT></TD>
</TR>
</TABLE>
</div>
<P align="center"><FONT size="2">See accompanying notes to the unaudited pro forma financial statements.
</FONT>
<P align="center"><FONT size="2">11
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>MARTIN MIDSTREAM PARTNERS L.P.<BR>
(Successor to Martin Midstream Partners Predecessor)</B>
</FONT>

<P align="center"><FONT size="2"><B>UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS<BR>
Year Ended December&nbsp;31, 2002<BR>
(Dollars in Thousands, except per unit amounts)</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="7"><FONT size="1"><B>Martin Midstream Partners L.P.</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="7"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>(Predecessor)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>(Partnership)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Period from</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Period from</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>January 1, 2002</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>November 6, 2002</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Pro Forma</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>through</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>through</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Adjustments &#151;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Pro Forma &#151;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Pro Forma</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>November 5,</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>December 31,</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Formation of</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Formation of</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Adjustments &#151;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Pro Forma &#151;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>2002</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>2002</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Partnership/IPO</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Partnership/IPO</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Tesoro</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Acquisition</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Acquisition</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Revenues:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Marine
transportation</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">20,336</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">4,104</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2"> &#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">24,440</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">243</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">4,909</FONT></TD>
    <TD nowrap><FONT size="2">(k)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">29,592</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Terminalling</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,221</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">937</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,158</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,270</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,295</FONT></TD>
    <TD nowrap><FONT size="2">(l)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,723</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Product Sales:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">LPG distribution</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">69,047</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">23,361</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">92,408</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">92,408</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Fertilizer</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">22,556</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,344</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">27,900</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">27,900</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Terminalling</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,551</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,551</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">91,603</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">28,705</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">120,308</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,551</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">128,859</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total revenues</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">116,160</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">33,746</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">149,906</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14,064</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,204</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">171,174</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Costs and expenses:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Cost of products sold:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">LPG distribution</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">65,081</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">22,109</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">87,190</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">87,190</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Fertilizer</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18,991</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,327</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">23,318</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">23,318</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Terminalling</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,959</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,959</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">84,072</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">26,436</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">110,508</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,959</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">116,467</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Expenses:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Operating expenses</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16,654</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,056</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,710</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10,220</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,120</FONT></TD>
    <TD nowrap><FONT size="2">)(o)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">28,139</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,277</FONT></TD>
    <TD nowrap><FONT size="2">)(q)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">606</FONT></TD>
    <TD nowrap><FONT size="2">(r)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Selling, general and
administrative</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,767</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">857</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(586</FONT></TD>
    <TD nowrap><FONT size="2">)(d)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,648</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">280</FONT></TD>
    <TD nowrap><FONT size="2">(m)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,928</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">610</FONT></TD>
    <TD nowrap><FONT size="2">(e)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Depreciation and
amortization</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,741</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">747</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,488</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,292</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(41</FONT></TD>
    <TD nowrap><FONT size="2">)(n)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,739</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total costs and
expenses</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">110,234</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">31,096</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">141,354</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18,471</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,552</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">158,273</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Operating income
(loss)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,926</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,650</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(24</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,552</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(4,407</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,756</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,901</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Other income (expenses):</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Equity in earnings of
unconsolidated
entities</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,565</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">599</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,164</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,164</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Interest expense</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(3,283</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(345</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,819</FONT></TD>
    <TD nowrap><FONT size="2">(f)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(2,005</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(400</FONT></TD>
    <TD nowrap><FONT size="2">)(b)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(3,552</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">464</FONT></TD>
    <TD nowrap><FONT size="2">(g)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,147</FONT></TD>
    <TD nowrap><FONT size="2">)(p)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,259</FONT></TD>
    <TD nowrap><FONT size="2">)(h)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(401</FONT></TD>
    <TD nowrap><FONT size="2">)(i)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Other, net</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">42</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">47</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">47</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total other income
(expense)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(676</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">259</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,623</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,206</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,547</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(341</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Income (loss)&nbsp;before
income taxes</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,250</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,909</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,599</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9,758</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(4,407</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,209</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,560</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Income taxes</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,959</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">(1,959</FONT></TD>
    <TD nowrap><FONT size="2">)(j)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Net income (loss)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">3,291</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">2,909</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">3,558</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">9,758</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">(4,407</FONT></TD>
    <TD nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">7,209</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">12,560</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">General partners&#146;
interest in net
income</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">58</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">251</FONT></TD>
    <TD nowrap><FONT size="2">(s)</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Limited partners&#146;
interest in net
income</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"></TD>
    <TD align="right"></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">2,851</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">12,309</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Net income per limited
partner unit</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"></TD>
    <TD align="right"></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">0.40</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">1.72</FONT></TD>
    <TD nowrap><FONT size="2">(s)</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Weighted average limited
partner units</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD></TD>
    <TD align="right"></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,153,362</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,153,362</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">See accompanying notes to the unaudited pro forma financial statements.
</FONT>
<P align="center"><FONT size="2">12
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>MARTIN MIDSTREAM PARTNERS L.P.</B>
</FONT>

<P align="center"><FONT size="2"><B>NOTES TO UNAUDITED PRO FORMA FINANCIAL STATEMENTS</B>
</FONT>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(a)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the borrowings of $27.0&nbsp;million through the expansion of Martin Midstream Partners L.P. (&#147;MMLP&#148;)
existing credit facility.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(b)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects payment of debt financing fees of $0.8&nbsp;million related to the expansion of the credit facility. The
debt financing fees will be capitalized and amortized over the life of the associated debt.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(c)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the payment of $27.6&nbsp;million for the acquisition of the Tesoro assets.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(d)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the elimination of historical allocated general and administrative expenses of $0.6&nbsp;million.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(e)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the estimated incremental general and administrative charges by MMLP&#146;s general partner of $0.6&nbsp;million.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(f)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the elimination of related affiliate interest expense of $2.8&nbsp;million as a result of the repayment of
debt from the net proceeds from MMLP&#146;s initial public offering.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(g)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Represents the elimination of interest expense relating to predecessor debt of $0.5&nbsp;million as a result of the
repayment of debt from the net proceeds from MMLP&#146;s initial public offering.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(h)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects interest expense of $1.3&nbsp;million on the borrowings under the bank credit facility of $35.0&nbsp;million.
The weighted average interest rate for the outstanding borrowings was 4.25%. If interest rates were to change
by 0.25%, MMLP&#146;s annual debt interest service would change by approximately $0.1&nbsp;million.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(i)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects payment of debt financing fees of $1.4&nbsp;million related to the credit facility in November&nbsp;2002. The
debt financing fees were capitalized and will be amortized over the life of the associated debt.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(j)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the elimination of federal and state income taxes as income taxes will be the responsibility of the
unitholders and not MMLP.
</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">13
</FONT>
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<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(k)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the Transportation Services Agreement under which MMLP, through its
operating subsidiary, provides marine transportation services to Martin Resource
Management for transporting fuel oil for Martin Resource Management.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(l)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the Terminal Service Agreement under which MMLP, though its operating
subsidiary, provides terminalling services to Martin Resource Management, which
allows Martin Resource Management to use MMLP terminals and storage tanks.</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(m)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the incremental general and administrative charges by MMLP&#146;s general partner as a result of the
acquisition of $0.2&nbsp;million and $0.3&nbsp;million, respectively. The indirect general and administrative expenses
from Martin Resources Management was capped at $1.0&nbsp;million for the year ended October&nbsp;31, 2003. The cap was
increased to $2.0&nbsp;million for the year ending October&nbsp;31, 2004. In each of the subsequent three years, this
amount may be increased by no more than the percentage increase in the consumer price index for the applicable
year. In addition, MMLP&#146;s general partner has the right to agree to further increases in connection with
expansions of MMLP&#146;s operations through the acquisition or construction of new assets or businesses.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(n)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the change in depreciation expense of the acquired assets from Tesoro. Pro forma depreciation expense
was based on estimated useful lives of 5 to 15&nbsp;years for the
acquired assets. The initial purchase price allocation is
preliminary. Due to the new carrying value of the Tesoro assets upon
acquisition, historical depreciation expense has been adjusted.</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(o)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects reimbursement to the operating subsidiary of MMLP from Martin Resource
Management for throughput expenses related to fuel oil and water that are being
charged directly to MMLP at a certain terminal location. This reimbursement is
part of the Terminal Services Agreement, see note (l), but is not subject to the
terminalling throughput fee described therein.</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(p)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects increase of interest expense resulting from the borrowings under MMLP&#146;s revolving credit facility of
$27.0&nbsp;million. The interest rates used to determine the pro forma adjustments for the borrowings under the
revolving credit facility were based on MMLP&#146;s borrowing rates of 3.83% and 4.25% for the nine months ended
September&nbsp;30, 2003 and the year ended December&nbsp;31, 2002, respectively.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(q)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the elimination of the historical personnel-related direct operating
expense for delivering lubricants, greases and drilling fluids as these personnel-related costs will be incurred by Martin Resource Management. The costs
related to delivering lubricants, greases and drilling fluids will be billed to
MMLP by Martin Resource Management under the Lubricants and Drilling Fluids
Terminal Services Agreement, see note (r).</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(r)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Reflects the charges per a Lubricants and Drilling Fluids Terminal Services
Agreement under which Martin Resources Management provides terminal services to
the operating subsidiary of MMLP to handle lubricants, greases and drilling
fluids.</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(s)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">MMLP&#146;s general partner&#146;s allocation of the net income is based on its combined 2.0% interest in MMLP. Its
general partners&#146; 2.0% allocation of net income has been deducted before calculating net income per limited
partners&#146; unit. The computation of net income per limited partner unit assumes that 2,900,000 common units and
4,253,362 subordinated units were outstanding at all time periods presented.
</FONT></TD>
</TR>
</TABLE>



<P align="center"><FONT size="2">14
</FONT>
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<P align="left"><FONT size="2"><B>(c)&nbsp;Exhibits</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="95%">

<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="79%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>EXHIBIT</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>NUMBER</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>DESCRIPTION</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Asset Purchase Agreement, dated October&nbsp;27, 2003, by and among
Martin Midstream Partners L.P., Martin Operating Partnership L.P.
and Tesoro Marine Services, L.L.C.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Terminal Services Agreement, dated December&nbsp;23, 2003, by and between Martin Operating
Partnership L.P. and Midstream Fuel Service LLC.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Transportation Services Agreement, dated December&nbsp;23, 2003, by and
between Martin Operating Partnership L.P. and Midstream Fuel
Service LLC.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Lubricants and Drilling Fluids Terminal Services Agreement, dated December&nbsp;23, 2003, by
and between Martin Operating Partnership L.P. and Midstream Fuel
Service LLC.</FONT></TD>
</TR>
</TABLE>
</DIV>


<P align="center"><FONT size="2">15
</FONT>
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<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>
<DIV align="left"><A name="a002"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2">MARTIN MIDSTREAM PARTNERS L.P.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2">By: Martin Midstream GP LLC<BR>
Its: General Partner</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">Date: January&nbsp;22, 2004</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ Robert D. Bondurant</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Robert D. Bondurant<BR>
Executive Vice President and Chief Financial Officer</FONT></TD>
</TR>
</TABLE>
</DIV>


<P align="center"><FONT size="2">16
</FONT>


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<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="003"></A></DIV>
<DIV align="left"><A name="a002"></A></DIV>
<P align="center"><FONT size="2"><B>INDEX TO EXHIBITS</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="95%">

<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="79%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>EXHIBIT</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>&nbsp;</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>NUMBER</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>DESCRIPTION</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Asset Purchase Agreement, dated October&nbsp;27, 2003, by and among
Martin Midstream Partners L.P., Martin Operating Partnership L.P.
and Tesoro Marine Services, L.L.C.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Terminal Services, dated December&nbsp;23, 2003, Agreement by and between Martin Operating
Partnership L.P. and Midstream Fuel Service LLC.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Transportation Services Agreement, dated December&nbsp;23, 2003, by and
between Martin Operating Partnership L.P. and Midstream Fuel
Service LLC.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Lubricants and Drilling Fluids Terminal Services Agreement, dated December&nbsp;23, 2003, by
and between Martin Operating Partnership L.P. and Midstream Fuel
Service LLC.</FONT></TD>
</TR>
</TABLE>
</DIV>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>d12019exv10w1.htm
<DESCRIPTION>EX-10.1 ASSET PURCHASE AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="right"><FONT size="2"><B>Exhibit&nbsp;10.1</B>
</FONT>

<P align="right"><FONT size="2"><B>Execution Copy</B>
</FONT>

<P align="center"><FONT size="2"><B>ASSET PURCHASE AGREEMENT</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Asset Purchase Agreement (this &#147;Agreement&#148;) is entered into on this
27th day of October, 2003, by and between TESORO MARINE SERVICES, L.L.C., a
Delaware limited liability company (&#147;Seller&#148;), and MARTIN MIDSTREAM PARTNERS
L.P., a Delaware limited partnership (&#147;MMLP&#148;), and MARTIN OPERATING PARTNERSHIP
L.P., a Delaware limited partnership (&#147;Buyer&#148;).
</FONT>
<P align="center"><FONT size="2">RECITALS
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Seller is the owner of the Acquired Assets described and defined
below.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Seller desires to sell the Acquired Assets to Buyer and Buyer
desires to purchase the Acquired Assets from Seller in the manner and upon the
terms and conditions set forth in the Agreement.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, simultaneously with the execution of this Agreement Seller is
entering into another Asset Purchase Agreement (the &#147;Additional Purchase
Agreement&#148;) among Seller and Midstream Fuel Service LLC (&#147;Midstream&#148;) whereby
Seller will sell and Midstream will purchase certain assets.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the representations, warranties,
conditions, and mutual covenants and agreements hereinafter set forth, the
Parties hereto agree as follows:
</FONT>
<P align="center"><FONT size="2"><B>AGREEMENT</B>
</FONT>

<P align="center"><FONT size="2"><B>ARTICLE I &#151; DEFINITIONS</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 Definitions. As used herein, the following terms shall have the
following definitions:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Actions&#148; shall have the meaning set forth in Section&nbsp;3.6 of the Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Agreement&#148; shall mean this Asset Purchase Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Acquired Assets&#148; shall have the meaning set forth in Section&nbsp;2.1 of the
Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Affiliate&#148; shall mean any Person that directly, or indirectly through one or
more intermediaries, controls or is controlled by or is under common control
with the Person specified. For purposes of this definition, control of a Person
means the power, direct or indirect, to direct or cause the direction of the
management and policies of such Person whether by Contract or otherwise.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Assigned Contracts&#148; shall mean the Contracts listed on Schedule&nbsp;3.11.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Assumed Obligations&#148; shall have the meaning set forth in Section&nbsp;2.2(a).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Base Consideration&#148; shall mean the sum of twenty five million dollars (U.S.
$25,000,000).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Breach&#148;
shall mean a breach of a representation, warranty, covenant,
obligation, or other provision of the Agreement or any instrument delivered at
Closing pursuant to the Agreement and will be deemed to have occurred if there
is or has been any inaccuracy in or breach of, or any failure to perform or
comply with, such representation, warranty, covenant, obligation, or other
provision.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Bunkering&#148; shall mean the retail sale of fuel oil to an ocean going vessel,
where the vessel is burning the fuel oil for the powering of its engines and
generators, Including both residual fuel oil and light diesel fuel oil.
</FONT>
<P align="center"><FONT size="2">&nbsp;
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Business&#148; shall mean the business of operating the Acquired Assets as they are
currently operated by Seller.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Business Day&#148; shall mean a day other than a Saturday, Sunday or legal holiday
for commercial banking institutions in the State of Texas.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Buyer&#148; shall mean Buyer and its successors, assigns, arid transferees.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Buyer&#146;s
Guarantor&#148; shall mean Martin Midstream GP LLC, general partner of
MMLP.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Buyer&#146;s Partner Guarantee&#148; shall mean that the guarantee to be executed and
delivered by Buyer&#146;s Guarantor, which shall be in the form attached hereto as
Exhibit&nbsp;A.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Claim&#148; shall mean an asserted or threatened claim or Action by any third
Person or Governmental Body that could result in a Loss by a Party subject to
indemnification under Article&nbsp;10 of this Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Claim Notice&#148; shall have the meaning provided in Section&nbsp;10.3.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Class&nbsp;One Real Property&#148; shall mean the Real Property described on Schedule
522(b).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Class&nbsp;Two Real Property&#148; shall mean all Real Property other than Class&nbsp;One
Real Property.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Cleanup&#148; shall mean all actions required to (i)&nbsp;cleanup, remove, treat or
remediate Hazardous Materials, (ii)&nbsp;perform pre-remedial studies and
investigations and post-remedial monitoring and care, or (iii)&nbsp;respond to any
requests of Government Bodies for information or documents in any way relating
to cleanup, removal, treatment or remediation or potential cleanup, removal,
treatment or remediation of Hazardous Materials.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Closing&#148; shall mean consummation of the transactions contemplated in the
Agreement, which Closing shall take place on the Closing Date at the offices of
Buyer&#146;s counsel.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Closing Date&#148; shall mean the date which is two (2)&nbsp;Business Days after all of
the conditions set forth in Articles VI, VII and VIII of this Agreement have
been satisfied or such other date as is mutually agreeable to Buyer and Seller,
but not later than the Termination Date.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Consent&#148; shall mean any approval, consent, ratification, waiver, or other
authorization (Including any Governmental Authorization), Including those
required to transfer an Acquired Asset to Buyer under the terms set forth in
this Agreement or for Buyer to operate the Business after Closing.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Contract&#148; shall mean any agreement, obligation, promise, undertaking, or
commitment, whether written or oral, express or implied, that is legally
binding, Including any contract, agreement, instrument, charter, lease,
sublease, loan agreement, note or other evidence of indebtedness, indenture,
mortgage, deed of trust, pledge agreement, security agreement, commitment
license, or franchise.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Critical Assets&#148; shall mean the Terminals and the Vessels listed on Schedule
7.6.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Deposit&#148; shall mean the sum of four hundred sixty three thousand dollars (U.S.
$463,000), payable in accordance with the provisions of Section&nbsp;2.4 of the
Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Disclosure Schedules&#148; shall mean the disclosure schedules attached to this
Agreement.</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Effective Time&#148; shall mean the 12:01 an. on the Closing Date.</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Employee Benefit Plan&#148; shall mean any of the following arrangements (whether
formal or informal, and whether written or unwritten) under which Seller, or
any of its Affiliates, has any liability to provide benefits or compensation to
or on behalf of any employee, or the spouse or dependents of any employee:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(a)&nbsp;any employee benefit plan within the meaning of Section&nbsp;3(3) of ERISA,
and
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(b)&nbsp;any other material profit-sharing, deferred compensation, incentive
compensation, bonus, commission, stock option, stock purchase, severance
pay, unemployment benefit, vacation pay,
</FONT>
<P align="center"><FONT size="2">2
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">savings, dependent care, scholarship, accident, disability, weekly
income, salary continuation or other compensation or fringe benefit
plan or program.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Encumbrance&#148; shall mean any community property interest, equitable
interest, lien, maritime lien, right in rem, encumbrance, option, pledge,
security interest, mortgage, deed of trust, tenancy or other possessory
interest, conditional sale or other title retention agreement, assessment,
easement, right of way, restriction or limitation of any kind, Including any
restriction on use or building, reservation, option, or right of first
refusal.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Environment&#148; shall mean the soil, land surface or subsurface strata,
surface waters (Including navigable waters, ocean waters, streams, ponds,
drainage basins, and wetlands), groundwaters, drinking water supply, stream
sediments, ambient air (including indoor air), plant and animal life, and
any other environmental medium or natural resource.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Environmental,
Health, and Safety Liabilities&#148; or &#147;EHS Liabilities&#148; shall
mean any cost, damages, expense, liability, obligation, or other
responsibility arising from or under Environmental Law or Occupational
Safety and Health Law and consisting of, relating to or resulting from:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(a)&nbsp;any
environmental, health, or safety matters or conditions
(Including on-site or off-site contamination, occupational safety and
health, and regulation of chemical substances or products);
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(b)&nbsp;fines, penalties, judgments, awards, settlements, legal or
administrative proceedings, damages, losses, claims, demands and
response, investigative, remedial, or inspection costs and expenses
arising under Environmental Law or Occupational Safety and Health Law;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(c)&nbsp;financial responsibility under Environmental Law or Occupational
Safety and Health Law for cleanup costs or corrective action, Including
any investigation, Cleanup, removal, containment, or other remediation
or response actions required by applicable Environmental Law or
Occupational Safety and Health Law (whether or not such Cleanup has
been required or requested by any Governmental Body or any other
Person) and for any natural resource damages;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(d)&nbsp;any other compliance, corrective, investigative, or remedial
measures required under Environmental Law or Occupational Safety and
Health Law; or
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(e)&nbsp;the use, presence, generation, storage, treatment, disposal,
emission or Release of Materials of Environmental Concern by Seller and
by any other Person in relation to the Business or the Acquired Assets
prior to Closing.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this definition the terms &#147;removal&#148;, &#147;remedial&#148;,
&#147;remediate&#148;, &#147;remediation&#148;, and &#147;response&#148; include the applicable types of
activities covered by the United States Comprehensive Environmental
Response, Compensation, and Liability Act, 42 U.S.C. &#167;9601 et seq., as
amended (&#147;CERCLA&#148;).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Environmental Law&#148; shall mean any Legal Requirement that:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(a)&nbsp;requires advising appropriate authorities, employees, and the
public of intended or actual releases of pollutants or hazardous
substances or materials, violations of discharge limits, or other
prohibitions and of the commencements of activities, such as resource
extraction or construction, that could impact the Environment;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(b)&nbsp;requires preventing or reducing to acceptable levels the release of
pollutants or hazardous substances or materials into the Environment;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(c)&nbsp;requires reducing the quantities, preventing the release, or
minimizing the hazardous characteristics of wastes that are generated;
</FONT>
<P align="center"><FONT size="2">3
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(d)&nbsp;requires assuring that products are designed, formulated, packaged,
and used so that they do not present unreasonable risks to human health or
the Environment when used or disposed of;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(e)&nbsp;requires
protecting resources, species, or ecological amenities;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(f)&nbsp;requires reducing to acceptable levels the risks inherent in the
transportation of Materials of Environmental Concern;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(g)&nbsp;requires cleaning up Materials of Environmental Concern that have been
Released, preventing the threat of Release, or paying the costs of such
clean up or prevention;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(h)&nbsp;requires making responsible parties pay private parties, or groups of
them, for damages done to their health or the Environment, or permitting
self-appointed representatives of the public interest to recover for
injuries done to public assets; or
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(i)&nbsp;relates to Materials of Environmental Concern or the protection of the
Environment, public or employee health or safety, or disposal, storage,
treatment, emissions, discharges, spills, releases, or threatened releases
of Materials of Environmental Concern, or otherwise relating to the
manufacture, processing, distribution, use, import, export, treatment,
storage, disposal, transport, or handling of Materials of Environmental
Concern, and shall include the Resource Conservation and Recovery Act, as
amended (&#147;RCRA&#148;); the Comprehensive Environmental Response Compensation
and Liability Act, as amended (&#147;CERCLA&#148;), the Clean Water Act, as amended;
the Clean Air Act, as amended; the Safe Drinking Water Act, as amended;
the Toxic Substances Control Act, as amended; the Emergency Planning and
Community Right-to-Know Act; the Hazardous Materials Transportation Act,
as amended; the Occupational Safety and Health Act of 1970, as amended
(&#147;OSHA&#148;); and all implementing laws and all similar state and local laws,
with respect to each of the foregoing acts.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Equipment&#148; shall mean the equipment, furniture and other personal property
listed on Schedule&nbsp;2.1(a) other than Vehicles, Vessels or fixtures.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Estimated Price of Inventory&#148; shall mean the estimated amount of the Price of
Inventory, determined prior to Closing, in accordance with Exhibit&nbsp;B.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Excluded Assets&#148; shall have the meaning stated in Section&nbsp;2.1(b).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Governmental
Authorization&#148; shall mean any approval, order, consent, license,
permit, franchise, filing, waiver, or other authorization issued, granted,
given, or otherwise made available by or under the authority of any
Governmental Body or pursuant to any Legal Requirement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Governmental Body&#148; shall mean any or all of the following:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(a)&nbsp;nation, state, county, parish, city, town, village, or district;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(b)&nbsp;federal, state, local, municipal, foreign, or other government;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(c)&nbsp;governmental or quasi-governmental jurisdiction or authority of any
nature (Including
any governmental agency, branch, department, official, or entity and any
court or other tribunal);
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(d)&nbsp;multi-national organization or body; or
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(e)&nbsp;governmental body exercising, or entitled to exercise, any
administrative, executive, judicial, legislative, police, regulatory, or
taxing authority or power of any nature.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Hazardous Materials&#148; shall mean any waste or other substance that is listed,
defined, designated, or classified as, or otherwise determined to be,
hazardous, radioactive, or toxic or a pollutant or a contaminant under or
pursuant to any Environmental Law or Occupational Safety and Health Law,
Including any mixture or solution thereof, and specifically including petroleum
and all derivatives thereof
</FONT>
<P align="center"><FONT size="2">4
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">or synthetic substitutes therefor, asbestos or asbestos-containing materials
and polychlorinated biphenyls (PCB&#146;s) or PCB containing materials.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Including&#148; shall mean including without limitation.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Indemnitee&#148; shall have the meaning set forth in Section&nbsp;10.3.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Indemnitor&#148; shall have the meaning set forth in Section&nbsp;10.3.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Intellectual Property&#148; shall mean patents and patent rights, copyrights and
copyright rights, computer programs, (including all source codes) and related
documentation.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Inventory&#148; shall mean all fuel, lubricants, and other products of Seller,
other than the Inventory set forth in the Additional Purchase Agreement, held
for sale to its customers, with the quantities of same as of the Closing Date
to be determined in accordance with the procedures set forth on Exhibit&nbsp;B.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Insurance Claims&#148; shall mean claims to recovery of proceeds owed under
property insurance on the Acquired Assets, whether for damages known to exist
at this time or which may occur on or prior to the Closing and which may be
discovered at any time in the future, but shall not include any insurance
claims that may provide coverage for Environmental, Health, and Safety
Liabilities.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Leased Real Property&#148; shall mean the Real Property leased to Seller under the
Leases.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Leases&#148; shall mean the agreements described on Schedule&nbsp;3.9(b).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Legal Requirement&#148; shall mean any federal, state, local, municipal, foreign,
international, multinational, or other administrative Order, constitution, law,
ordinance, principle of common law, regulation, statute, or treaty.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Losses&#148; shall mean any and all costs, losses, liabilities, actions, demands,
obligations (Including corrective and remedial obligations), penalties, damages
and expenses, Including reasonable legal fees, expert fees and litigation
expenses, and liability for interest, consequential damages, lost profits, or
punitive damages to third parties whose claims are subject to indemnification
under this Agreement, but excluding any interest, consequential damages, lost
profits or punitive damages suffered, incurred or claimed by a Party.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Material Adverse Change&#148; shall mean a material adverse change, together with
any and all material adverse changes arising under the Additional Purchase
Agreement, exceeding one million dollars ($1,000,000) singly or in
the aggregate, in the Purchase Price, financial condition, results of
operations, business, operations, prospects or condition of the
Business or
the Acquired Assets, other than any adverse change resulting from general
economic conditions, economic conditions affecting the terminaling industry
generally, or economic conditions generally affecting the markets in which the
Acquired Assets are operated.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Materials of Environmental Concern&#148; shall mean Hazardous Materials and other
hazardous substances, oil or other substances potentially harmful to human
health, or the Environment.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Occupational Safety and Health Law&#148; shall mean any Legal Requirement designed
to provide safe and healthful working conditions and to reduce occupational
safety and health hazards.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Order&#148; shall mean any award, decision, injunction, judgment, writ, decree,
order, ruling, subpoena, or verdict entered, issued, made, or rendered by any
court, administrative agency, or other Governmental Body or by any arbitrator.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Ordinary Course of Business&#148; shall mean an action taken by a Person if and
only if:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(a)&nbsp;such action is consistent with the past practices of such Person and
is taken in the ordinary course of the normal day-to-day operations of
such Person;
</FONT>
<P align="center"><FONT size="2">5
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(b)&nbsp;such action is not required to be authorized by the members,
managers, shareholders, board of directors of such Person (or by any
Person or group of Persons exercising similar authority); and
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(c)&nbsp;such action is similar in nature and magnitude to actions customarily
taken, without any authorization by the members, managers, shareholders,
or board of directors (or by any Person or group of Persons exercising
similar authority), in the ordinary course of the normal day-to-day
operations of other Persons that are in the same line of business as such
Person.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Owned Real Property&#148; shall mean the Real Property described on Schedule
3.9(a).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Party&#148; shall mean either Buyer or Seller; &#147;Parties&#148; shall mean Buyer and
Seller.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Permits&#148; shall mean all licenses, permits, pending applications, consents,
approvals, and authorizations of or from any public or Governmental Body
utilized by Seller in connection with their current, or required by any
Governmental Body for, its use of the Acquired Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Permitted Encumbrances&#148; shall mean with respect to the Acquired Assets: (i)
liens for current taxes and assessments not yet due and payable; (ii)
mechanics&#146;, materialmen&#146;s and similar liens arising in the ordinary course of
business securing amounts not yet due and payable or amounts not in excess of
$25,000 in the aggregate with respect to any individual Terminal, being
contested in good faith with appropriate procedures; (iii)&nbsp;public road
right-of-ways as currently located and traveled; (iv)&nbsp;railroad spur track
easements and railroad rights, if any, for railroad tracks as currently located
and traveled; (v)&nbsp;pipeline easements and rights, if any, for pipelines as
currently located and used; (vi)&nbsp;the leases and subleases (other than the
Leases), licenses and similar agreements which are Assigned Contracts; (vii)
imperfections of title, easements, rights-of-way, covenants, conditions,
restrictions or encumbrances which do not, individually or in the aggregate,
materially detract from the value of or materially interfere with or impair the
use of the Acquired Assets or the operation of the Business; (viii)&nbsp;zoning,
building, fire, health, environmental and pollution control laws, ordinances,
rules and safety regulations and other similar restrictions; (ix)&nbsp;any condition
set forth in the Surveys to be delivered by Seller to Buyer pursuant to Section
5.22; provided that such conditions are accepted or deemed accepted by Buyer
pursuant to Section&nbsp;5.22 of this Agreement; (x)&nbsp;exceptions set out in the Title
Commitments which are accepted or deemed accepted by Buyer pursuant to Section
5.22 of this Agreement, and (xi)&nbsp;outstanding mineral interests and the rights
of the owners thereof.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Person&#148; shall mean any individual, corporation (Including any non-profit
corporation), general or limited partnership, limited liability company, joint
venture, estate, trust, association, organization, labor union, or other entity
or Governmental Body.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Preferential Purchase Right&#148; shall mean the valid and enforceable right of any
Person other than a Party to this Agreement to acquire any of the Acquired
Assets, which takes precedence over the rights of Buyer to acquire such
Acquired Asset at Closing under this Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Price of Inventory&#148; shall mean the market price of the Inventory as of the
Closing Date, determined as set
forth on Exhibit&nbsp;B.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Proceeding&#148;
shall mean any action, arbitration, audit, hearing, investigation,
litigation, or suit (whether civil, criminal, administrative, investigative, or
informal, public or private) commenced, brought, conducted, or heard by or
before, or otherwise involving, any Governmental Body or arbitrator.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Purchase Price&#148; shall mean the sum of the Base Consideration plus the Price of
Inventory, payable in accordance with the provisions of Sections&nbsp;2.3 and 2.4 of
this Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Real Property&#148; shall mean the Owned Real Property and the Leased Real
Property, together with all interests of Seller in and to the buildings,
structures, fixtures, quays, wharfs, piers, docks, and improvements thereon and
all other appurtenances thereto.
</FONT>
<P align="center"><FONT size="2">6
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Release&#148; shall mean any spilling, leaking, emitting, discharging, depositing,
disposing, escaping, leaching, dumping, or other releasing into the
Environment, whether intentional or unintentional.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Representative&#148; shall mean with respect to a particular Person, any director,
officer, employee, agent, consultant, advisor, or other representative of such
Person, Including legal counsel, accountants, and financial advisors.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Retained Obligations&#148; shall have the meaning set forth in Section&nbsp;2.2(b).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Seller&#148; shall mean Seller and its successors, assigns, and transferees.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Seller EHS Liabilities&#148; shall mean Environmental, Health and Safety
Liabilities (a)&nbsp;relating to or occurring at any of the Acquired Assets or the
operation of the Business prior to Closing, and (b)&nbsp;together with any liability
or obligation for Cleanup of waste disposal sites used by Seller or any other
Person in relation to Seller, the Business or the Acquired Assets prior to
Closing and former facilities not included among the Acquired Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Seller&#146;s Financial Statements&#148; shall mean the financial statements delivered
to Buyer in the Seller&#146;s management presentation on September 11, 2003,
Including the balance sheet, statement of income, and accompanying footnotes
pertaining to the Acquired Assets and Business being transferred to Buyer
hereunder for each of the fiscal year ended December&nbsp;31, 2002 and the six month
period ended June&nbsp;30, 2003, prepared in
accordance with generally accepted accounting principles (&#147;GAAP&#148;).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Seller&#146;s Guarantor&#148; shall mean Tesoro Petroleum Corporation.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Seller&#146;s Knowledge&#148; shall mean the actual knowledge of a particular fact or
other matter of any individual listed in Schedule&nbsp;1.1 hereto, whether or not
such individual is employed by or acting as an officer or manager of the
Seller, which knowledge shall include and be based upon all information that is
provided to or received by such persons in connection with the transactions
contemplated by this Agreement or in connection with the management of the
Business or the operation of the Acquired Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Seller&#146;s Parent Guarantee&#148; shall mean that the guarantee to be executed and
delivered by Seller&#146;s Guarantor, which shall be in the form attached hereto as
Exhibit&nbsp;C.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Survey&#148; shall mean each new or updated survey of a parcel of the Real Property
obtained by Seller under Section&nbsp;5.22.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Taxes&#148; shall mean all taxes, charges, fees, imposts, duties, levies,
withholdings or other assessments imposed by any Governmental Body, Including
ad valorem, property, income, sales, use, excise, utility, environmental, value
added, transfer and fuel taxes, customs duties and any interest, fines,
penalties or additions to tax attributable to or imposed on or with respect to
any such assessment
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Terminal&#148; shall mean each respective Terminal listed in Schedule&nbsp;2.1(a) of the
Agreement, Including all associated Real Property or other ownership or
leasehold interests owned or operated by Seller at such site and any buildings,
plants, structures, fixtures and equipment thereon owned or operated by Seller.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Termination Date&#148; shall mean December&nbsp;31, 2003 or such later date as shall be
mutually agreed to by Buyer and Seller.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Threat of Release&#148; shall mean a substantial likelihood of a Release that may
require action in order to prevent or mitigate damage to the Environment that
may result from such Release.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Title Commitment&#148; shall mean an Owner&#146;s title commitment issued by the Title
Company on each parcel of Real Property, as provided in Section&nbsp;5.22(a).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Title Policy&#148; shall mean a title policy issued by the Title Company on each
parcel of Real Property, as provided in Section&nbsp;5.22(g).
</FONT>
<P align="center"><FONT size="2">7
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Title Policy Real Property&#148; shall mean the Real Property described on Schedule
3.9(a) and the Real Property described on Schedule&nbsp;3.9(b) for which a Title
Policy is to be issued to Buyer pursuant to Section&nbsp;5.22.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Title Company&#148; shall mean First American Title Insurance Company.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Total Loss&#148; shall mean an actual, constructive or agreed total loss of the
economic benefit of any Acquired Asset.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Uncured Title Matter&#148; shall have the meaning set forth in Section&nbsp;5.22(c)(iv).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Vehicles&#148; shall mean the motor vehicles, trailers, and tankers listed on
Schedule&nbsp;2.1(a) of the Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Venice Site&#148; shall mean the Real Property located in Venice, Plaquemines
Parish, Louisiana.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&#147;Vessels&#148; shall mean the vessels listed on Schedule&nbsp;3.12 of the Agreement,
together with the Vessels&#146; respective engines, tackle, winches, cordage,
general outfit, electronic and navigation equipment, radio installations,
appurtenances, appliances, spares or replacement parts, stores, tools and
provisions designated for the Vessels whether on board or ashore, Including
fuel on board the Vessel that is not the property of a charterer.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE II &#151; PURCHASE AND SALE OF ACQUIRED ASSETS.</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <B>Purchase and Sale of Acquired Assets. </B>At the Closing and subject to
the terms and conditions of the Agreement, Seller shall sell, transfer, assign,
and deliver to Buyer and Buyer shall purchase, acquire, take assignment and
delivery from Seller, all of the right, title, and interest of Seller in and to
the Acquired Assets, as specified below, save and except the Excluded Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Acquired Assets. The Acquired Assets shall consist of the following
property, rights and interests:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(i)&nbsp;all of Seller&#146;s right, title and interest in the Terminals, Including
all Owned Real Property, and, to the extent any required Consents have
been obtained for any Leased Real Property requiring such Consents, such
Leased Real Property, and all leasehold improvements, plant tangible
personal property, and equipment of Seller or other interests therein
located at or identified to or otherwise belonging to the Terminals listed
on Schedules 2.1(a), 3.9(a) and 3.9(b);
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(ii)&nbsp;the Inventory of Seller, whether located at the Terminals or in
transit thereto or therefrom;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iii)&nbsp;the Vessels;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iv)&nbsp;all Seller&#146;s records relating exclusively to the Vessels, Including
certificates (to the extent permitted by applicable Legal Requirement to
be transferred), maintenance and repair, architectural plans and records,
classification records and correspondence with classification society and
U.S. Coast Guard, yard work, purchasing records, and vendor records, in
whatever form, Including computer programs and data compilations;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(v)&nbsp;the Vehicles;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(vi)&nbsp;to the extent permitted by applicable Legal Requirement to be
transferred and except to
the extent noted on Schedule&nbsp;3.10, all Permits issued by any Governmental
Body held or used by
Seller in connection with the ownership or operation of any of the
Acquired Assets, Including the
Terminals or the Vessels;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(vii)&nbsp;all of Seller&#146;s rights, title, and interest in the Assigned
Contracts listed on Schedule&nbsp;3.11; provided that, only with the written
consent of Seller, Buyer may, prior to Closing, exclude
</FONT>
<P align="center"><FONT size="2">8
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">certain Assigned Contracts after reviewing the same and amend Schedule
3.11 accordingly, and any such excluded Contracts shall thereafter not be
subject to any provision of this Agreement for any purpose;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(viii)&nbsp;all of Seller&#146;s rights, title, and interest in the furniture and
equipment used in connection with the Business and located on the Real
Property;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(ix)&nbsp;the books and records of Seller (or copies thereof), directly
relating to the Acquired Assets or the Business, Including maintenance
and repair records, plans, drawings and piping diagrams relating to the
Terminals; and
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(x)&nbsp;all of the Seller&#146;s rights to proceeds from Insurance Claims for
damage to any of the Acquired Assets arising prior to the Closing and not
repaired by Seller on or prior to Closing to the extent agreed pursuant
to Section <I>2.5 </I>below.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Excluded Assets. Notwithstanding anything to the contrary contained in
this Section&nbsp;2.1, the Parties to this Agreement expressly understand and agree
that the Seller is not agreeing hereunder to sell, assign, transfer or convey
to the Buyer any of the Excluded Assets. The Excluded Assets shall consist of
the following property, rights and interests:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(i)&nbsp;any amounts payable to Seller under the Assigned Contracts listed on
Schedule&nbsp;3.11 based upon or attributable to performance under such
Assigned Contracts provided by the Seller or the operation of the
Acquired Assets by the Seller prior to the Closing Date;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(ii)&nbsp;any refunds with respect to Taxes relating to any Pre-Closing Period;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iii)&nbsp;any Contract to the extent that such Contract will not be assigned
under Section 5.10 or becomes an Excluded Contract under Paragraph&nbsp;2.1
(a)(vii); provided however, that the Contracts referred to in Section
5.10 and in this Paragraph&nbsp;2.1(b)(iii) shall constitute Assigned
Contracts for purposes of the representations and warranties and
covenants under this Agreement, and provided further that if after Closing
the Parties obtain the Consent to assignment of any Assigned Contract that
is not assigned at Closing pursuant to Section&nbsp;5.10, the Assigned
Contract so affected shall then be assigned to Buyer and shall become an
Acquired Asset rather than an Excluded Asset;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iv)&nbsp;any Acquired Asset which becomes the subject of a Total Loss prior
to Closing, as provided in Section 2.5(c)(i);</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(v)&nbsp;any rights to contribution, indemnity and/or defense related to the
ownership of the
Acquired Assets or the Business prior to Closing but only to the extent
such rights relate to
Retained Obligations or to remediation or repairs effected by Seller
prior to Closing;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(vi)&nbsp;all defenses related to liabilities and obligations retained by
Seller;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(vii)&nbsp;trademarks and trade-names of Seller and its Affiliates;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(viii)&nbsp;the minute book, stock transfer records and similar corporate and
limited liability company records of Seller and its predecessors; and
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(ix)&nbsp;any other assets not specifically described in Section&nbsp;2.1(a).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <B>Assumed Obligations and Retained Obligations.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Assumed Obligations. At and after the Effective Time, Buyer shall
assume and covenant to pay, perform and discharge only the following
obligations relating to the Seller, the Acquired Assets and the Business, but
excluding the Retained Obligations (collectively, the &#147;Assumed Obligations&#148;):
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(i)&nbsp;all obligations and liabilities of the Seller for performance under
the Assigned Contracts, (other than Contracts that are Excluded Assets)
arising or accruing from and after the Effective Time;
</FONT>
<P align="center"><FONT size="2">9
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(ii)&nbsp;all obligations regarding repairs, restoration, remediation
and or upgrades on or at the Acquired Assets after the Effective
Time, save and except Seller EHS Liabilities for which Seller is
responsible under Section&nbsp;10.5 and 5.24; or
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iii)&nbsp;All obligations under the Permits transferred to Buyer
pursuant to Section&nbsp;2.1(a)(vi) arising or accruing from and after
the Effective Time, save and except Seller EHS Liabilities.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Retained Obligations. Seller shall retain from and after the
Closing, all the Retained Obligations. The Retained Obligations shall
consist of all liabilities and obligations existing with respect to the
Seller, the Acquired Assets and the Business immediately prior to the
Effective Time, other than excluding the Assumed Obligations, Including
all Losses based upon, arising out of or resulting from any of the
following:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(i)&nbsp;any claims, for any injury to person or property, to the extent
attributable to (A)&nbsp;services rendered by the Seller prior to the
Effective Time, or (B)&nbsp;the operation of any of the Acquired Assets
or the Business prior to the Effective Time or incidents occurring
on, involving or relating to any of the Acquired Assets or the
Business at any time prior to the Effective Time, regardless of
whether such claims are asserted prior to, on or after the Closing
Date, in each case to the extent asserted against Seller, Buyer,
any member or partner of Seller or Buyer or any Affiliate or any
asset of the Buyer or any such member or Affiliate or the Acquired
Assets;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(ii)&nbsp;any claims by any employee or former employee of the Seller or
its Affiliates arising out of the employment or termination of
employment of such employee or former employee by Seller or its
Affiliates, including, without limitation, all obligations in
respect of Employee Benefit Plans, or;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iii)&nbsp;all Seller EHS Liabilities, subject to the limitations set
forth in Article&nbsp;11;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iv)&nbsp;any Taxes of the Seller, any Taxes attributable to the
Acquired Assets or the Business for any period prior to the
Effective Time and, to the extent asserted against the Buyer, any
member or Affiliate thereof or any asset of the Buyer or any such
member or Affiliate;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(v)&nbsp;any third party claims against any of the Acquired Assets or the
Business or the Seller to the extent attributable to occurrences or events
which occurred prior to the Effective Time and any liabilities arising out
of any Actions referred to in Schedule&nbsp;3.6.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(vi)&nbsp;Obligations of Seller under any collective bargaining
agreements, employment agreement
and other similar employment arrangements.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <B>Purchase Price.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Buyer shall pay Seller the Purchase Price as consideration for
the purchase of the Acquired Assets, as set forth in this Section&nbsp;2.3.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Base Consideration, minus the Deposit, shall be payable to
Seller at Closing; provided (i)&nbsp;that in the event that any Acquired Asset
suffers a casualty resulting in a Total Loss, and the Agreement is not
terminated pursuant to Section&nbsp;12.1 hereof, then the cash portion of Base
Consideration shall be reduced by the amount allocated to such Acquired
Asset in Schedule&nbsp;2.6, as provided in Section&nbsp;2.5, (ii)&nbsp;that in the event
any third party exercises a Preferential Purchase Right, the Base
Consideration shall be reduced as provided in Section&nbsp;2.7, and (iii)&nbsp;that
the Base Consideration shall be further reduced by the amount specified in
that certain letter agreement among the Parties of even date herewith if a
reduction is required pursuant to such letter agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At Closing, Buyer shall pay Seller the Estimated Price of
Inventory. Within forty-five (45)&nbsp;days after Closing, the Parties shall
determine the corrected final quantity of Inventory at Closing and the
applicable prices for such Inventory, as provided in Exhibit&nbsp;B, and
thereafter, either Buyer or Seller, as applicable, shall pay to the other
Party the amount required to reconcile and adjust the
</FONT>
<P align="center"><FONT size="2">10
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">Estimated Price of Inventory paid at Closing to the corrected Price of
Inventory, within three (3)&nbsp;business days after the final determination of
the corrected quantities of Inventory as of the Closing Date.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4
<B>Deposit.</B> As security for the fulfillment of the Agreement by
Buyer, Buyer will upon the execution of this Agreement post with Seller
the Deposit. Buyer and Seller agree that the Deposit shall, as applicable,
be either (a)&nbsp;credited at Closing against the Base Consideration pursuant
to Section&nbsp;2.3(b), (b)&nbsp;released to Buyer upon termination of this
Agreement to the extent provided in Section&nbsp;12.2(b)(i) or Section&nbsp;12.2(c),
or (c)&nbsp;retained by Seller as liquidated damages in lieu of any other
damages for Buyer&#146;s failure to close upon termination of this Agreement to
the extent so provided in Section&nbsp;12.2(b)(ii).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5
<B>AS IS, WHERE IS; Risk of Loss; Casualty Loss.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) AS IS, WHERE IS. The sale and delivery of the Acquired Assets
shall be on an &#147;AS IS, WHERE IS&#148; basis at the time of Closing, subject to
the express representations and warranties and other provisions set forth
in this Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Risk of Loss. Except as otherwise specifically provided herein,
risk of loss of each of the Acquired Assets shall be borne by Seller
through the Effective Time and shall transfer to the Buyer upon Closing.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Casualty Loss or Damage. Any casualty loss or damage to any
Acquired Asset between the date of this Agreement and the Effective Time
shall be governed by the provisions of this Section&nbsp;2.5(c), but subject to
the rights of the Parties under Articles 6, 7 and 12.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(i)&nbsp;In the event of a Total Loss of any Acquired Asset prior to
the Effective Time, such Acquired Asset shall become an Excluded
Asset, and the Purchase Price shall be reduced by the allocated
purchase price of such asset so lost as set forth in Schedule&nbsp;2.6.
In such event, all insurance proceeds in connection with such
casualty shall be for the sole account of the Seller, and the Buyer
shall have no claim whatsoever to same.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(ii)&nbsp;The Purchase Price shall not he reduced in the event any of
the Acquired Assets sustains a casualty loss or other damage prior
to Closing (other than a Total Loss), it being understood and
agreed that the sale and purchase of the Acquired Assets shall be,
subject to the conditions of this Agreement, on an &#147;AS IS, WHERE
IS&#148; basis at Closing. However, in the event of a casualty loss of
or damage to an Acquired Asset prior to the Effective Time other
than a Total Loss, Seller shall (i)&nbsp;repair such Acquired Asset to
the reasonable satisfaction of Buyer prior to Closing, whenever it
would be consistent with Seller&#146;s past practices in the Ordinary
Course of Business, or (ii)&nbsp;to the extent such repairs have not
been completed prior to Closing, Seller shall assign to Buyer all
insurance proceeds actually received by Seller on account of loss
of or damage to such Acquired Asset save and except
proceeds covering amounts expended by Seller to repair such
Acquired Asset (with Seller bearing any deductible), or any
Insurance Claim or claim against a third party relating to such
casualty or loss to the Acquired Asset under Seller&#146;s insurance
policies; save and except to the extent that such Insurance Claim
or third party claim covers amounts expended by Seller to repair
such Acquired Asset (with Seller bearing any deductible) provided,
however, if such Insurance Claim covering an insured casualty or
loss is not paid within 180&nbsp;days of submission to the carrier
together with appropriate documentation of the loss, Seller will
reimburse Buyer for the Insurance Claim assigned to Buyer
hereunder, and Buyer shall reassign such Insurance Claim to Seller.
Any assignment by Seller hereunder of an Insurance Claim or claim
against a third party shall not include any claim that Seller might
have for contribution, indemnity or reimbursement of any costs that
Seller might incur as a result of any environmental remediation
obligations relating to such casualty for which Seller may remain
responsible.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iii)&nbsp;Notwithstanding the foregoing, in the event such a Total Loss
and/or other loss or casualty, together with all other Total Losses
and/or other losses or casualties asserted under this
</FONT>
<P align="center"><FONT size="2">11
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">Agreement and the Additional Purchase Agreement, would result in a
reduction in Purchase Price or cost to repair pursuant to paragraph (ii)
above, that would exceed an amount which, together with any other repairs
or other items set forth in Section&nbsp;8.3, would result in a Material
Adverse Change, either Buyer or Seller shall have the right to terminate
this Agreement in accordance with Section&nbsp;12.1(a)(iii) in the case of
Seller and 12.1(a)(iv) in the case of Buyer.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 <B>Allocation of Purchase Price. </B>The Purchase Price shall be allocated on
an estimated basis among the Acquired Assets in accordance with Schedule&nbsp;2.1(a)
and 3.12. On or prior to Closing and following Buyer&#146;s inspection of the
Acquired Assets, Buyer and Seller shall revise Schedule&nbsp;2.1(a) and 3.12 to
reflect any reasonable adjustments and corrections. The Seller and the Buyer
agree to prepare and file all federal, state, local and foreign income tax
returns and other filings reflecting the transactions contemplated by the
Agreement on a basis consistent with such allocation.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 <B>Adjustment for Third Party Preferential Purchase Rights. </B>If any third
party holding a Preferential Purchase Right, as reflected on Schedule&nbsp;5.10
should exercise such right in connection with the transactions contemplated
herein, and the Agreement is not terminated pursuant to Section&nbsp;12.1 hereof,
then Seller shall not convey to Buyer the Acquired Assets subject to such
Preferential Purchase Right, and the Purchase Price shall be reduced by the
amount of value assigned on Schedule&nbsp;5.10 to the Contract containing the
Preferential Purchase Right. Such reduction shall be a reduction in the cash
amount paid at Closing. In the event that the exercise of any Preferential
Purchase Right results in a Material Adverse Change, Buyer may terminate this
Agreement pursuant to Section&nbsp;12.1.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE III &#151; REPRESENTATIONS AND WARRANTIES OF THE SELLER</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">The Seller represents and warrants to the Buyer as follows:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <B>Limited Liability Company Status. </B>Seller is a limited liability
company duly organized, validly existing, and in good standing under the laws
of the State of Delaware, and is duly qualified to do business and is in good
standing in all jurisdictions in which the nature of its business or the
ownership of its properties or both makes such qualification necessary. Seller
has the requisite power and authority to own, lease, operate and transfer its
properties, including the Acquired Assets, and to conduct the Business as
currently conducted.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <B>Authority for Agreement. </B>Seller has the limited liability company
power and authority to enter into the Agreement and to carry out the
transactions contemplated hereby and its obligations hereunder. The execution
and delivery of the Agreement by Seller, the performance of its obligations
pursuant to the Agreement, and the consummation of the transactions
contemplated hereby have been duly authorized by the managers and members of
Seller, and do not and will not directly or indirectly contravene or conflict
with any provision of the certificate of formation, limited liability company
agreement, or resolutions of the members or managers of Seller, or other
governing company documents of Seller. No further actions on the part of Seller
are necessary to authorize the Agreement and the transaction contemplated
hereby. The officer executing the Agreement on behalf of Seller has been duly
authorized by the members and managers of Seller to execute the Agreement and
to consummate the transactions contemplated hereby. The Agreement has been duly
and validly executed and delivered by Seller and (assuming the valid
authorization, execution, and delivery of the Agreement by the Buyer) is a
valid and binding obligation of Seller, enforceable against it in accordance
with its terms.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3
<B>Consents and Approvals. </B>Except as set forth on Schedules 3.3,
3.10,
and 3.11, and except for filings of (i)&nbsp;deeds and memoranda of leases in the
real property records of the counties or parishes where the Real Property is
located, (ii)&nbsp;transfers of the certificates of title of the Vehicles in the
appropriate state agencies where the Vehicles are titled, (iii)&nbsp;bills of sale
with the U.S. Coast Guard as may be necessary or appropriate in connection with
the transfer of title to the Vessels, and (iv)&nbsp;filings of assignments of and
applications for Permits required by Legal Requirement to be made by Buyer, no
notice to or Consent of, or filing with any Governmental Body or other Person
is required for the
</FONT>


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<P align="left"><FONT size="2">execution or delivery of the Agreement by the Seller or for the performance of
its obligations hereunder or the consummation of the transactions contemplated
hereby, or, if required, all such notices to, Consents of or filings will be
duly made or obtained prior to Closing.
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <B>No Breach</B>. The execution and delivery of the Agreement and the
performance of its obligations hereunder and the consummation of the
transactions contemplated hereby do not and will not, directly or indirectly,
contravene or conflict, directly or indirectly, with or result in a Breach or
violation of any provision of, constitute a default or an event which with
notice or passage of time or both would constitute a default under, or give
rise to a right of termination, cancellation, or acceleration of indebtedness
under, (i)&nbsp;any Contract to which Seller is a party or by which the Acquired
Assets may be bound, (other than by reason of any required Consents to
assignment or Preferential Purchase Right under the Assigned Contracts listed
on Schedule&nbsp;3.11), or which would result in the creation of an Encumbrance on
any Acquired Asset; or (ii)&nbsp;any Legal Requirement applicable to Seller or the
Acquired Assets, or give any Governmental Body or other Person the right to
challenge any of the transactions contemplated hereby or to exercise any remedy
or obtain any relief under, any Legal Requirement to which Seller or any of the
Acquired Assets may be subject. Except as disclosed in Schedule&nbsp;3.6, to
Seller&#146;s Knowledge, there are no threatened or pending disputes with respect to
any of the Assigned Contracts that could result in a Material Adverse Change.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <B>Financial Statements</B>.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller has delivered to Buyer the Seller&#146;s Financial Statements. The
Seller&#146;s Financial Statements fairly present the financial position and results
of operations of the Acquired Assets and the Business, in conjunction with the
&#147;Acquired Assets&#148; and the &#147;Business&#148; as defined in the Additional Purchase
Agreement, as of their respective dates, and for the periods then ended in
accordance with GAAP, consistently applied. Except as set forth on Schedule
3.5, Seller has no liabilities, contingent or otherwise, that should be accrued
or otherwise reported in accordance with GAAP and that are related to the
Acquired Assets or the Business other than those reflected in Seller&#146;s
Financial Statements or incurred since June&nbsp;30, 2003, in the ordinary course of
normal trade or business or by reason of personal injury or property damage
arising by accident, none of which individually, or in the aggregate are
material to the Acquired Assets or the Business.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 <B>Compliance with Legal Requirements</B>.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
Except for Environmental Matters set forth in Section&nbsp;3.7, and except
as set forth on Schedule&nbsp;3.6, Seller has not received notice of any violation
or potential violation of and is in material compliance with all and is not in
material violation of any Legal Requirements applicable to Seller, the Acquired
Assets or the conduct of the Business. Neither Seller, the Acquired Assets or
the Business is subject to the Public Utility Holding Company Act of 1935, as
amended, or the Investment Company Act of 1940, as amended, or any other
similar federal or state law.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A full and complete list of all claims, demands, actions, suits or
other Proceedings at law, in admiralty or in equity, against Seller or the
Acquired Assets or the Business, including any employee related claims, claims
relating to the Employee Benefit Plans, counter-claim, or investigation by or
before any Governmental Body, or against the Business or the Acquired Assets,
whether pending or threatened (collectively the &#147;Actions&#148;) is set forth in
Schedule&nbsp;3.6 attached hereto. Except as set forth in
Schedule&nbsp;3.6, there are no
Actions which could give rise to an attachment, seizure, forfeiture or other
Encumbrance against the Acquired Assets or the Business. Except as set forth on
Schedule&nbsp;3.6, there are no outstanding Orders against, involving, or affecting
the Business, or any Acquired Asset other than Orders of general applicability
affecting an area, a region or an industry as a whole.
</FONT>
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</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7. <B>Environmental Matters</B>. Except as set forth in Schedule&nbsp;3.7:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
Seller has complied with and is now complying in all material
respects with all Environmental Laws and Occupational Safety and Health Laws
applicable to the Acquired Assets and the operations of the Business.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Seller has filed, obtained, has complied with, in all material
respects, and is now complying with, in all material respects, all
notifications, registrations, and Permits required by Environmental Laws and
Occupational Safety and Health Laws for the ownership or operation of the
Acquired Assets, the Business, including, without limitation, those required
for the treatment, storage, disposal or Release of Materials of
Environmental Concern to the Environment, and all such notifications,
registrations, and Permits are valid and remain in full force and effect.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There are no pending or, to Seller&#146;s Knowledge threatened, Claims,
citations, demands, Actions,
Orders, agreements, notices of violation, notice of potential
liability, investigations or administrative proceedings against Seller that
are in any way related to the Business or the Acquired Assets under or
pursuant to Environmental Laws and/or Occupational Safety and Health Laws.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Seller is not subject to any outstanding injunction, judgement,
order, decree, or ruling under or pursuant to Environmental Laws and/or
Occupational Safety and Health Laws related to the Business or the Acquired
Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) There are no Materials of Environmental Concern existing on, in or
under any of the Acquired Assets, or the Real Property, other than Materials
of Environmental Concern maintained or handled in the Ordinary Course of
Business and in compliance with applicable Environmental Laws and/or
Occupational Safety and Health Laws, and there has been no Release from the
Acquired Assets into the Environment of Materials of Environmental Concern
in violation of any Environmental Laws and/or Occupational Safety and Health
Laws.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Business and the Acquired Assets are not subject to any
remedial obligations under Environmental Laws, and to Seller&#146;s Knowledge,
there are no facts, circumstances or conditions arising out of or relating
to the ownership of the Acquired Assets or the Business, including, but not
limited to, any Release of Materials of Environmental Concern, that could
give rise to material Environmental, Health and Safety Liabilities.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)
None of the Acquired Assets are on the National Priorities List, and
Seller has not received any written communication requesting information or
alleging that it is or may be a potentially responsible party under CERCLA
(42 U.S.C. &#167;&nbsp;6901 <I>et seq.) </I>or any analogous state law in connection
with the Business or the Acquired Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) No Cleanup is being conducted or planned at or on any of the
Acquired Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As of the date hereof, no environmental lien has attached to any
Real Property and to Seller&#146;s Knowledge, no facts, circumstances or
conditions exist that could reasonably be expected to result in any such
lien or Encumbrance attaching to any such Real Property.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Seller has provided Buyer with true and complete copies and results
of all non-privileged environmental, health or safety reports, audits,
studies, assessments, inspections, investigations or other environmental,
health or safety reports relating to the operations of the Business, the
acquired Terminals owned, operated, or leased in connection with the
Business, or relating to any Environmental, Health and Safety Liabilities
for which the Business is or may be held responsible, that are in the
possession, custody or control of Seller, except for a Phase I environmental
audit that was commissioned by another potential purchaser of the Acquired
Assets. Neither any of such non-privileged information or the Phase I
referred to in this paragraph (j)&nbsp;contains any item that would be required
to be disclosed pursuant to this Section&nbsp;3.7, other than items that have
been disclosed on Schedule&nbsp;3.7.
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) This Section&nbsp;3.7 includes the sole and exclusive representations
and warranties with respect to matters relating to the Environment.
Schedule&nbsp;3.7 may be updated following completion of any Phase I
Environmental Reports obtained by Buyer, in accordance with Section
5.15(c), subject to Buyer&#146;s right to terminate this Agreement in
accordance with Section&nbsp;8.3 and Article&nbsp;12 hereof.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 <B>Vehicles and Equipment Assets</B>. Schedule&nbsp;2.1(a) sets forth an
accurate, correct, and complete legal description of the Vehicles and
other Equipment which are Acquired Assets hereunder. Schedule&nbsp;3.11
includes all Contracts relating to or affecting the same or any interest
therein. Except as described on Schedules 2.1 (a)&nbsp;and 3.20, Seller has the
sole and exclusive legal and equitable ownership of all right, title, and
interest in and has good and marketable title to such Vehicles and other
Equipment and is in possession of same, in each case free and clear of all
Encumbrances, except for Permitted Encumbrances.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 <B>Real Property</B>.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Schedule&nbsp;3.9(a) indicates which parcels of Real Property
constitute the Owned Real Property, and sets forth an accurate and
complete (in all material respects) legal description of the Owned Real
Property. The Owned Real Property constitutes all of the real property
owned by Seller that is used or held for use in connection with the
Business. Seller is in possession of all Owned Real Property excluding the
Venice Site, Seller has good and marketable title in fee simple absolute to
such Owned Real Property free and clear of all Encumbrances except for
Permitted Encumbrances and Buyer will acquire such title to such Real
Property upon the consummation of the transactions contemplated hereby.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Schedule&nbsp;3.9(b) indicates which parcels of Real Property
constitute the Leased Real Property,
and sets forth an accurate and complete (in all material respects)
legal description of the Leased Real Property, except as indicated on
Schedule&nbsp;3.9(b). Seller has a valid and subsisting leasehold estate and
the right to quiet enjoyment of the Leased Real Property, subject to
Permitted Encumbrances. The Leased Real Property constitutes all Real
Property leased to Seller that is used or held for use in connection with
the Business. Subject to the receipt of any required Consents, Buyer will
acquire the right to the quite enjoyment of such Leased Real Property,
subject to the Permitted Encumbrances, upon the consummation of the
transactions contemplated hereby.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There are no Contracts affecting the title to or possession of
any of the Real Property other than those set out in Schedule&nbsp;3.9(a) and
(b)&nbsp;and Schedule&nbsp;3.11.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Neither the whole nor any portion of the Real Property has been
condemned, requisitioned, or otherwise taken by any public authority, and
no notice of any such condemnation, requisition, or taking has been
received by Seller. To Seller&#146;s Knowledge, no such condemnation,
requisition, or taking is threatened or contemplated. Seller has no
Knowledge of any public improvements that may result in special
assessments against the Real Property.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)
Except as set forth in Schedule&nbsp;3.9(a) and (b), (i)&nbsp;excluding
compliance with Environmental Laws, which is addressed in Section&nbsp;3.7, the
Real Property is in compliance in all respects with all applicable
zoning, building, health and fire laws, (ii)&nbsp;the zoning of each parcel of
Real Property permits the existing improvements and the continuation
following consummation of the transactions contemplated hereby of the
Business as presently conducted thereon, (iii)&nbsp;Seller has all licenses,
certificates of occupancy, permits, and authorizations required to conduct
the Business as currently conducted by Seller on the Real Property, (iv)
Seller has such easements and rights as are necessary to conduct the
Business as currently conducted by Seller on the Real Property, and (v)&nbsp;no
fact or condition exists that has resulted or is reasonably likely to
result in the termination or impairment of access to the Real Property or
discontinuation of sewer, water, electric, gas, telephone, waste disposal,
or other utilities necessary to conduct the Business on the Real Property.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Seller has delivered or made available to Buyer accurate,
correct, and complete (in all material respects) copies of all valid and
existing deeds, leases, mortgages, deeds of trust, certificates of
</FONT>
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<P align="left"><FONT size="2">occupancy, existing title insurance policies, title reports and, surveys,
and all amendments thereof that are within Seller&#146;s possession or control.
Except as set forth in Schedule&nbsp;3.9(a) and (b), the buildings, plants,
and structures at the Real Property do not encroach upon the property of,
or otherwise conflict with the superior property rights of, any other
Person to the extent that the value or use (in the manner in which it is
currently being used by Seller) of the subject Real Property is materially
and adversely affected thereby.
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Real Property constitutes all of the real property necessary
for Buyer to own, operate, use and enjoy the Acquired Assets and the
Business for the same purposes for which, and in the same or similar
manner to which, the Acquired Assets and the Business have been owned,
operated and used by Seller prior to the consummation of the transactions
contemplated by this Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 <B>Licenses and Permits</B>. Schedule&nbsp;3.10 lists all of Seller&#146;s
material Permits. Seller has all Permits that are necessary to conduct the
Business in compliance with Legal Requirements, each of which is in
full force and effect. Seller has complied with all material conditions and
requirements imposed by the Permits and has not received any notice that
any appropriate authority intends to cancel, terminate, or suspend any of
the Permits and has no reason to believe that valid grounds for such
cancellation, termination, or suspension exist. No licenses or permits
other than the Permits are necessary to operate the Acquired Assets in the
manner in which they are currently utilized by Seller. Seller owns or has
the right to use the Permits in accordance with the terms thereof without
any conflict or infringement with the rights of others and subject to no
claim, and each Permit is valid, and except as noted on Schedule&nbsp;3.10 no
Permit will be subject to termination, terminated or adversely affected by
the transactions contemplated by the Agreement, except that no
representation is made with respect to the transferability of any Permit.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 <B>Contracts and Leases</B>.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Assigned Contracts. The Assigned Contracts, together with all
contracts that are &#147;Assigned Contracts&#148; under the Additional Purchase
Agreement, constitute all existing Contracts relating to the Business,
including the Leases, that have a term greater than 12&nbsp;months or require
payments to, or payments by, Seller in excess of $25,000 annually or that
are material to the Acquired Assets or the Business. Seller has made
available to Buyer true, correct, and complete copies of all Assigned
Contracts, and Schedules 3.9(a) and (b)&nbsp;and Schedule&nbsp;3.11 identify all
Assigned Contacts. Except as set forth in Schedule&nbsp;3.9(a) and (b)&nbsp;or
Schedule&nbsp;3.11 and subject to the Permitted Encumbrances with respect to
the Leases, all of the Assigned Contracts are in
full force and effect. None of the Assigned Contracts has been
terminated, except as set forth on Schedule&nbsp;3.11, nor has notice of
termination been given with respect thereto, and except as set forth in
Schedule&nbsp;3.11, no notice has been given by any party thereto of any
alleged default thereunder by any party thereto.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Equipment Leases. Schedule&nbsp;3.11 identifies all existing Equipment
leases, together with the name and address of the lessor and the material
terms of the lease, covering all leased Equipment at any Terminal or
aboard any of the Vessels or Vehicles.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 <B>Vessels</B>.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Schedule&nbsp;3.12 sets forth a list of all Vessels owned, leased,
chartered or managed by the Seller on the date hereof and the Coast Guard
Official Number of each. Except as set forth in Schedule&nbsp;3.12, no Vessel is
either laid up or being held for sale. All Vessels are duly documented
under the laws and flag of the United States solely in the name of the
Seller, and Seller has good and marketable title to each such Vessel free
and clear of all Encumbrances. Except as set forth in Schedule&nbsp;3.12, (i)
each Vessel is afloat in satisfactory operating condition for use in the
operations for which it is intended to be used; (ii)&nbsp;each Vessel holds in
full force all licenses, certificates and permits and rights required for
operation in the manner vessels of its kind are being operated in the
trade in which such the Vessel is presently being operated, including any
coastwise endorsements; (iii)&nbsp;no event has occurred and to Seller&#146;s
Knowledge no
</FONT>
<P align="center"><FONT size="2">16
</FONT>
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<P align="left"><FONT size="2">condition exists (other than normal wear and tear) that would
materially and adversely affect the condition of such Vessel; (iv)&nbsp;with
respect to each Vessel which is required to be classed or, such Vessel has
a valid and unextended class certificate without condition or
recommendation, and the class of such Vessel is currently maintained
without condition or recommendation, and (v)&nbsp;with respect to each Vessel
which is required to have a certificate of inspection, such Vessel has a
valid certificate of inspection, valid for at least 6&nbsp;months.
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Since January&nbsp;1, 2003, Seller has maintained the inventory of spare
parts, equipment, tools, provisions, stores, and supplies (whether on board or
ashore) for such Vessel, following the Seller&#146;s, usual, and customary policy
and in Seller&#146;s, usual, and customary manner, Including any renewal or
replacement spare parts used in the repair of such Vessel;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Since January&nbsp;1, 2003, Seller has not departed from any normal drydock
and maintenance practices or discontinued replacement or renewal of spares in
operating such Vessel, deferred any scheduled maintenance on such Vessel,
entered into any charter for such Vessel with a term of more than 30&nbsp;days, or
authorized any of, or agreed or committed to do any of, the foregoing actions;
and
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Seller is a citizen of the United States within the meaning of Section
2 of the Shipping Act of 1916, as amended, qualified to engage in the coastwise
trade of the United States.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 <B>&#091;Omitted.&#093;</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14 <B>Books and Records</B>. The books, records, accounts, ledgers, and files
of Seller relating to the Business and Acquired Assets are accurate and
complete in all material respects and have been maintained in accordance with
good business and bookkeeping practices.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15 <B>&#091;Omitted.&#093;</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16
<B>Disclosure.</B> All documents, certificates, financial statements,
disclosures, and schedules delivered or to be delivered by or on
behalf of Seller in connection with the Agreement and the transactions contemplated
hereby are accurate, true, complete, and correct in all material respects.
Neither this Agreement, nor any documents, certificates, financial statements,
disclosures, and schedules delivered or to be delivered by or on behalf of
Seller in connection with the Agreement and the transactions contemplated
hereby contains any untrue statement of a material fact or omits a material
fact with respect to Seller, the Business, or the Acquired Assets necessary to
make the statements contained herein or therein, in light of the circumstances
in which made, not misleading.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17 <B>Taxes</B>. Except as set forth on Schedule&nbsp;3.17, Seller has filed in a
timely manner all tax reports, returns and forms affecting the Acquired Assets
or the Business as may have been required under applicable law, including all
required federal, state and local income, sales, use, property and franchise
tax returns, and has paid (except amounts for taxes being diligently contested
in good faith by appropriate procedures and disclosed in Schedule&nbsp;3.17) all
required taxes or similar assessments affecting the Acquired Assets or the
Business, Including any interest, penalties or additions
attributable thereto shown as due on all such filings. No Encumbrances
(other than Permitted Encumbrances), proceedings, lawsuits, investigations,
inquiries or other actions which are pending, threatened or open to seek the
assessment or collection of additional taxes of any kind from Seller
specifically relating to any portion of the Acquired Assets or the Business,
and to Seller&#146;s Knowledge, no other examination by the Internal Revenue Service
or any other taxing authority affecting any portion of the Acquired Assets or
the Business is now pending, except as set forth on Schedule&nbsp;3.17. Taxes which
Seller was required by law to withhold or collect in respect to the Acquired
Assets or the Business have been withheld or collected and have been paid over
to the proper Governmental Body or are properly held by Seller for such payment
when due and payable.
</FONT>
<P align="center"><FONT size="2">17
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18 <B>Condition of Property</B>. The tangible Acquired Assets are being
maintained in material compliance with all applicable Legal Requirements, and
in suitable condition and repair for the conduct of the Business as presently
conducted by Seller.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.19 <B>Intellectual Property. </B>Except as set forth on Schedule&nbsp;3.19, no
Intellectual Property is necessary for the operation or continued operation of
the Acquired Assets or the Business in the manner in which they are currently
being operated.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20 <B>Absence of Certain Changes</B>. Except as and to the extent set forth in
Schedule&nbsp;3.20, since June&nbsp;30, 2003, (i)&nbsp;Seller has conducted the Business only
in the Ordinary Course of Business, and (ii)&nbsp;Seller, with respect to the
Acquired Assets and the Business, has not:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) suffered any adverse change in the Business, customer relations,
operations, properties,
prospects, Acquired Assets, liabilities, or condition (financial or otherwise)
which resulted in or could
reasonably be expected to result in a Material Adverse Change and there has not
been any damage,
destruction, Loss, Total Loss or other event which resulted in or could
reasonably be expected to result in
a Material Adverse Change;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) incurred any liabilities, except for current liabilities for trade or
business obligations incurred in the Ordinary Course of Business or other
liabilities incurred by reason of personal injury or property damage arising
from an accident, none of which individually or in the aggregate constitute a
Material Adverse Change;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) paid, discharged or satisfied any liabilities other than the payment,
discharge or satisfaction in the Ordinary Course of Business, none of which
would result in or could reasonably be expected to result in a Material Adverse
Change;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) permitted or allowed any of the Acquired Assets to be subjected to any
Encumbrances, except for Permitted Encumbrances;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) sold, transferred, or otherwise disposed of any assets used in the
Business, except in the Ordinary Course of Business;

</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;made any change in any method of financial or tax accounting or in any
financial or tax accounting practice; or
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;agreed, whether in writing or otherwise, to take any action described
in this Section&nbsp;3.20.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21 <B>Insurance</B>. Schedule&nbsp;3.21 sets forth a correct and complete list of
all insurance policies issued in favor of the Seller or any of its Affiliates,
or pursuant to which Seller or any of any of its Affiliates are named insureds
or otherwise beneficiaries, that relate to any of the Acquired Assets and that
provide for coverage in excess of $25,000. All policies listed in Schedule&nbsp;3.21
are in full force and effect, all premiums due thereon have been paid and the
Seller or its Affiliates have complied in all material respects with the
provisions of such policies. Seller and its Affiliates maintain commercially
adequate insurance on all of the Acquired Assets as is generally insured
against by prudent companies engaged in the same or similar business. The
policies set forth on Schedule&nbsp;3.21 are with financially sound and reputable
insurance providers.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22 <B>Sufficiency of Acquired Assets</B>. Except as set forth on Schedule&nbsp;3.22,
the Acquired Assets, together with all assets that are &#147;Acquired Assets&#148; under
the Additional Purchase Agreement, and excluding all Real Property which is
covered in Section&nbsp;3.9 and excluding all Permits which are covered in Section
3.10, constitute all of the tangible operating assets necessary for Buyer to
conduct the Business for substantially the same purposes for which, and in
substantially the same manner in which the Business has been operated and
conducted by Seller prior to the consummation of the transactions contemplated
by this Agreement. Seller has the sole and exclusive legal and equitable
ownership of all right, title, and interest in and has good and marketable
title to such Acquired Assets, excluding all Real Property which is covered in
Section&nbsp;3.9 and excluding all Permits which are covered in Section&nbsp;3.10, and is in
</FONT>
<P align="center"><FONT size="2">18
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<P align="left"><FONT size="2">possession of same, in each case free and clear of all
Encumbrances, except for Permitted Encumbrances and Buyer will acquire such
title upon consummation of the transactions contemplated hereby.
</FONT>

<P align="center"><FONT size="2"><B>ARTICLE IV &#151; REPRESENTATIONS AND WARRANTIES OF BUYER.</B>
</FONT>

<P align="left"><FONT size="2">Buyer represents and warrants to the Seller as follows:
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <B>Limited Partnership Status</B>. Each of MMLP and Buyer is a limited
partnership, duly organized, validly existing, and in good standing under the
laws of the State of Delaware, and is duly qualified to do business and is in
good standing in all jurisdictions in which the nature of its business or the
ownership of its properties or both makes such qualification necessary.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <B>Authority for Agreement</B>. Each of MMLP and Buyer has the limited
partnership power to enter into the Agreement and to carry out its obligations
hereunder. The execution and delivery of the Agreement by each of MMLP and
Buyer, the performance of its obligations pursuant to the Agreement, and the
consummation of the transactions contemplated hereby have been duly authorized
by the general partner of MMLP and no further actions on the part of MMLP or
Buyer or its partners are necessary to authorize the Agreement and the
transactions contemplated hereby. The Agreement has been duly and validly
executed and delivered by MMLP and Buyer and (assuming the valid authorization,
execution, and delivery of the Agreement by Seller) is a valid and binding
obligation thereof, enforceable against it in accordance with its terms.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <B>Absence of Breach; Consents and Approvals</B>. No notice to or approval or
Consent of, or filing with, any third party or Governmental Body is required
for the execution or delivery of the Agreement by MMLP or Buyer or for the
performance of its obligations hereunder. The execution and delivery of the
Agreement do not, and the consummation of the transactions contemplated hereby
will not (i)&nbsp;conflict with the limited partnership agreement, certificate of
limited partnership or resolutions of MMLP or Buyer or the organizational
documents of MMLP&#146;s general partner or (ii)&nbsp;result in a breach or violation of
any provision of, constitute a default, or an event which with notice or
passage of time or both would constitute a default under, or give rise to a
right of termination, cancellation, or acceleration of indebtedness under, any
material Contract or any material Legal Requirement to which MMLP or Buyer is a
party or by which it or its property is bound.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <B>Disclosure</B>. All documents and schedules delivered or to be delivered
by or on behalf of MMLP or Buyer in connection with the Agreement and the
transactions contemplated hereby are true, complete, and correct in all
material respects. Neither the Agreement, nor any schedule to the Agreement
contains any untrue statement of a material fact with respect to MMLP or Buyer
or omits a material fact necessary to make the statements contained herein or
therein, in light of the circumstances in which made, not misleading.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE V &#151; COVENANTS.</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <B>Cooperation</B>. Buyer and Seller agree:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Until the Closing, Buyer and Seller shall use their reasonable good
faith efforts to perform and fulfill all conditions and obligations to be
fulfilled or performed by them hereunder, to the end that the transactions
contemplated hereby will be fully and timely consummated.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if any event should occur, within the knowledge and control of any
Party, that would prevent fulfillment of the conditions to the obligations of
any Party hereto to consummate the transactions contemplated by the
Agreement, to use its or their reasonable efforts to cure the same as expeditiously as
possible;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to deliver such other instruments of title, certificates,
endorsements, assignments, assumptions and other documents or instruments, in
form reasonably acceptable to the Party requesting
</FONT>
<P align="center"><FONT size="2">19
</FONT>
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<P align="left"><FONT size="2">the same and its counsel, as
may be reasonably necessary to carry out and/or to comply with the terms of the
Agreement and the transactions contemplated herein; and
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to confer on a regular basis with each other, report on material
operational matters, and promptly advise each other orally and in writing of
any change or event having, or which, insofar as can reasonably be foreseen,
could have a material adverse effect on either Party or which would cause or
constitute a material breach of any of the representations, warranties, or
covenants of any Party contained herein, provided, however, that neither Party
nor any of their Affiliates shall be required to disclose any material
nonpublic information relating to such Party or such Affiliates for which such
Party or Affiliate is prohibited from disclosing under applicable United States
securities laws.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <B>Access</B>. Until the Closing, and subject to Section&nbsp;5.13 hereof, Seller
shall give Buyer and Buyer&#146;s Representatives full and complete access, upon
reasonable notice and at reasonable times, to the Acquired Assets and to
Seller&#146;s offices, employees, business and financial records, Contracts,
business plans, budgets, projections, and commitments and other documents and
information of Seller concerning the Business and the Acquired Assets, in
order that Buyer may have full opportunity to make such examination and
investigation as it may desire, Including (a)&nbsp;physical inspections of Vessels,
Vehicles, Equipment, Terminals and Real Property, (b)&nbsp;undertaking a Phase I
environmental report, (c)&nbsp;such examination of the books and records of the
Seller pertaining to the Acquired Assets and the Business, as Buyer reasonably
requests and (d)&nbsp;making extracts and copies of such books and records. Buyer&#146;s
access shall not unreasonably interfere with Seller&#146;s continuing operation of
the Business and shall be subject to Seller&#146;s customary safety and security
policies. Except as specifically set forth herein, without Seller&#146;s prior
consent, Buyer may not conduct any borings or any disassembly, destructive
analysis or testing of any Acquired Asset. Buyer&#146;s contacts with Seller&#146;s
employees shall remain subject to guidance and control by Seller&#146;s management,
and Seller shall not discuss future employment issues with any such employee
without prior notice to and consent by Seller, which shall not be unreasonably
withheld. Seller shall furnish Buyer&#146;s representatives during such period with
all such information in Seller&#146;s possession or control as such representatives
may reasonably request concerning the Acquired Assets and the Business and
instruct Seller&#146;s respective officers, employees, consultants, agents,
accountants, and attorneys to cooperate fully with Buyer&#146;s representatives in
connection with such review and examination; provided however, that Buyer and
Buyer&#146;s Representatives shall hold the documents and information concerning
Seller, the Acquired Assets and the Business confidential in accordance with
Section&nbsp;5.13 hereof.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <B>Insurance</B>. Until the Closing, Seller shall maintain insurance on each
of the Acquired Assets which is insured on the date of this Agreement,
providing substantially the same coverage with respect to each such Acquired
Asset as is currently in force.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <B>Compliance with Laws</B>. Until the Closing, Seller shall use the Acquired
Assets in compliance in all material respects with all Legal Requirements,
subject to the items disclosed in Schedules 5.24(a) and (b).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <B>Keeping of Books and Records</B>. Until the Closing, Seller shall keep
records and books of account with respect to the Business and the Acquired
Assets, in which entries will be made in accordance with generally accepted
accounting principles consistently applied and in such detail as is consistent
with Seller&#146;s past practice.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 <B>Actions Prior to Closing</B>. Seller shall utilize the Acquired Assets
pending the Closing only in the ordinary and usual course consistent with past
practice, except for any the replacement of Vehicles or Equipment in accordance
with the provisions of Section&nbsp;5.15(c). Without limiting the generality of the
foregoing, Seller shall not except in accordance with the provisions of Section
5.15(c), without the prior written consent of Buyer, undertake any of the
following actions
</FONT>
<P align="center"><FONT size="2">20
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) enter into any new Contract binding any Acquired Asset subsequent to
the Closing with respect to such Acquired Asset or release or relinquish any
Assigned Contract or other material Contract or material right relating to the
Acquired Assets;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) incur any liabilities, except for current liabilities for trade or
business obligations incurred in the Ordinary Course of Business or liabilities
arising by reason of personal injury or property damage resulting from an
accident, which do not cause individually, or in the aggregate, a Material
Adverse Change;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) permit or allow any of the Acquired Assets to be subjected to any
Encumbrances, except for Permitted Encumbrances;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) sell, transfer, or otherwise dispose of any assets used in the
Business, except for Inventory sold in the Ordinary Course of Business;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) make any change in any method of financial or tax accounting or in any
financial or tax accounting practice relating to the Business, unless required
to do so by a change in law or regulations effective after June&nbsp;30, 2003; or
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) agree, whether in writing or otherwise, to take any action described
in this Section&nbsp;5.6.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7
<B>Litigation</B>. Until the Closing, Seller shall promptly notify Buyer of
any Actions relating either to the Business or any Acquired Asset, or to the
Seller in connection with the Business or any Acquired Asset, that are served on
Seller, or to Seller&#146;s Knowledge are threatened, or anticipated against or by
the Seller.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 <B>Continued Effectiveness of Representations and Warranties</B>. From the
date hereof through the Closing, Seller shall utilize the Acquired Assets in a
manner such that the representations and warranties contained herein shall
continue to be true and correct on and as of the Closing, as if made on and as
of the Closing, except for changes and events arising as a consequence of the
Closing, or actions in the Ordinary Course Of Business after the date hereof.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9 <B>No Negotiations</B>. Until the Closing, or the earlier termination of the
Agreement in accordance with its terms, Seller shall not, directly or
indirectly, engage in discussions or negotiations with, or provide any
information to, any Person with respect to the possible sale or transfer, by
joint venture or otherwise, of any of the Acquired Assets to any Person other
than Buyer; provided however, that Seller shall enter into any discussions and
negotiations and provide information as may be required to obtain the Consents
and satisfy the rights of first refusal set forth on Schedules 3.9(a)
and (b)
and Schedules 3.11.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10 <B>Consents and Preferential Purchase Rights</B>.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Consents. For any Assigned Contract or Permit which is subject to a
Consent, Seller shall use commercially reasonable efforts, and Buyer shall
provide commercially reasonable cooperation to Seller, to obtain all Consents
required to effect assignment thereof to Buyer as of the Closing Date.
Notwithstanding the foregoing, Buyer shall not be required to pay or contribute
to any consent fee required by any third party and Seller must obtain the
Consents listed on Schedule&nbsp;5.10 as a condition to Closing. For all other
Consents, if Seller is unable to obtain the requisite Consent to assignment of
any Assigned Contract or Permit prior to the Closing Date, the obtaining of
such Consent shall not be a condition to Closing, but Buyer and Seller shall
continue to cooperate in good faith and to take all commercially reasonable and
necessary actions, other than the expenditure of money, but including Seller&#146;s
performance of the Retained Obligations, required to assign to Buyer such
Assigned Contract or Permit as soon as practicable after the Closing Date. If
Buyer and Seller should determine that any Consent to assignment to Buyer is
reasonably necessary to the continued operation of the Business either
commercially or in accordance with applicable Legal Requirements, then, except
where such action would be unlawful or prohibited by the affected Contract or
Permit, Seller shall retain the affected
</FONT>
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<P align="left"><FONT size="2">Contract or Permit and shall enter
into an arrangement with Buyer to provide Buyer with the benefits of such
Contract or Permit until such Contract or Permit is properly assigned to Buyer
or expires at the earliest opportunity in accordance with its terms, provided,
that Buyer shall perform Seller&#146;s obligations thereunder arising after the
Closing (and indemnify Seller against Losses arising in connection therewith
after the Closing).
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Preferential Purchase Rights. Within five days of the date of
this Agreement, Seller shall notify all Persons who hold Preferential
Purchase Rights relating to any Acquired Assets, such Preferential
Purchase Rights and Acquired Assets being listed on
Schedule&nbsp;5.10, offering to allow such Persons to exercise their Preferential Purchase
Right as to the Acquired Assets subject to such Preferential Purchase
Rights, for the price set forth on Schedule&nbsp;5.10. If such Person elects
to exercise a Preferential Purchase Right, the Acquired Assets subject to
such Preferred Purchase Rights shall be deemed to have suffered a Total
Loss pursuant to Section&nbsp;2.5(c). If any such Person elects to exercise a
Preferential Purchase Right for such Acquired Assets, and this Agreement
is not terminated in accordance with Section&nbsp;12.1 hereof, then the
Acquired Assets subject to such Preferential Purchase Right shall not be
included in the Acquired Assets assigned and conveyed at Closing, and
the Purchase Price paid at Closing shall be adjusted as set forth in
Section&nbsp;2.7. If the Person holding a Preferential Purchase Right for an
Acquired Asset does not elect to exercise such Preferential Purchase
Right, then the Acquired Assets subject to such Preferential Purchase
Right shall be included within the Acquired Assets, and the Purchase
Price shall not be so adjusted.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11 <B>EHS Liabilities</B>. Until and after the Closing, Seller shall
perform all actions and pay all costs required to satisfy Seller EHS
Liabilities, subject to the limitations set forth in Sections&nbsp;10.5 and
Article&nbsp;11 herein.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12 <B>Removal of Encumbrances</B>. Seller shall cause the removal of any
and all Encumbrances, other than the Permitted Encumbrances, against any
of the Acquired Assets, at or before Closing, at its sole cost and
expense; provided, however, that this Section&nbsp;5.12 shall not apply with
respect to Title Policy Real Property which is addressed in Section
5.22.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13 <B>Confidentiality</B>.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
From the date of this Agreement, except as required by
applicable Legal Requirement, neither Buyer, nor any of its Affiliates
or their representatives shall, at any time, make use of, divulge or
otherwise disclose, directly or indirectly, any Seller Proprietary
Information unless such Seller Proprietary Information: (i)&nbsp;is or
becomes generally available and known to the public; (ii)&nbsp;is rightfully
received by Buyer and any of its representatives, agents or Affiliates
from any Person, without restriction on use or disclosure and without
breach of any obligation to Seller or any of its representatives, agents
or Affiliates; (iii)&nbsp;is independently developed by or for Buyer without
reference to or use of Seller Proprietary Information; or (iv)&nbsp;is the subject of prior written approval of
Seller.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If Buyer is required by any court or legislative or
administrative body (by oral questions, interrogatories, request for
information or documents, subpoena or similar process) to disclose any
Seller Proprietary Information, Buyer shall provide Seller with prompt
notice of such requirement in order to afford Seller an opportunity to
seek an appropriate protective order. Buyer shall cooperate with Seller
in an effort to obtain such a protective order, and shall if appropriate
allow Seller to intervene or appear in any proceeding in order to
protect the confidentiality of the Seller Proprietary Information.
However, if Seller is unable to obtain or does not seek such a
protective order, and Buyer is, in the opinion of counsel, compelled to
disclose the Seller Proprietary Information under penalty of liability
for contempt, censure or penalty, disclosure of such Seller Proprietary
Information may be made without liability, but only to the extent that
Buyer is so compelled to disclose the Seller Proprietary Information in
response to such process.
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything herein to the contrary, any Party to this
Agreement (and any employee, representative, or other agent of any Party to
this Agreement) may disclose to any and all persons, without limitation of any
kind, the tax treatment and tax structure of the transactions contemplated by
this Agreement and all materials of any kind (including opinions or other tax
analyses) that are provided to it relating to such tax treatment and tax
structure; provided, however, any such information relating to the tax
treatment or tax structure shall be kept confidential to the extent necessary
to comply with any applicable federal or state securities laws.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The foregoing notwithstanding, Buyer&#146;s obligations of confidentiality
as set forth in the Confidentiality Agreement between Buyer and Seller shall
survive and continue until the Closing Date and, if the Closing does not occur,
such obligations shall survive and continue in accordance with the terms of
such Confidentiality Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) For the purposes of this Section&nbsp;5.13, &#147;Seller Proprietary
Information&#148; means any and all information regarding Seller, not relating to
the Acquired Assets and the Business, together with all information relating to
the Excluded Assets or the Retained Obligations under this Agreement or the
Additional Purchase Agreement, which has not been or is not generally made
available to the public by Seller prior to the Closing Date.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Parties acknowledge that any breach of this Section&nbsp;5.13 could
result in irreparable harm that might not be adequately compensated by damages,
and expressly recognize Seller&#146;s right to immediate injunctive relief in the
event of the breach of this Section&nbsp;5.13, in addition to any and all other
remedies and damages available to Seller at law or in equity.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14
<B>Brokers Fees</B>. Seller shall be responsible for and shall pay any
financial advisory fee, brokerage commission, finder&#146;s fee, or like payment
payable to any broker, agent, advisors, or other Persons acting on behalf of
Seller or under their authority in connection with the transactions
contemplated hereby. Buyer shall be responsible for any such similar fees
payable to any financial advisor acting on behalf of Buyer.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15 <B>Supplemental Disclosures</B>.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) By Seller. Between the date of the Agreement and the Closing Date,
Seller will promptly notify Buyer in writing if to Seller&#146;s Knowledge, there
occurs any event, fact, or condition, Including a Total Loss or other loss or
casualty that causes or constitutes a Breach of any of Seller&#146;s representations
and warranties as of the date of the Agreement, or if Seller becomes aware of
the occurrence after the date of the Agreement of any fact or condition,
Including a Total Loss or other loss or casualty, that would cause or
constitute a Breach of any such representation or warranty had such
representation or warranty been made as of the time of occurrence or discovery
of such fact or condition, and Seller shall use commercially reasonable efforts
to prevent or promptly remedy the same. Seller shall also notify Buyer in
writing if Seller becomes aware of any Material Adverse Change, and Seller
shall use commercially reasonable efforts to prevent or promptly remedy the
same. Should any such fact or condition require any change in any of the
Disclosure Schedules if the Disclosure Schedules were dated the date of the
occurrence or discovery of any such fact or condition, Seller will promptly
deliver to Buyer a supplement to the Disclosure Schedule specifying such
change. During the same period, Seller will promptly notify Buyer of the
occurrence to Seller&#146;s Knowledge of any Breach of any covenant of Seller in
this Article&nbsp;5 or of the occurrence to Seller&#146;s Knowledge of any event that may
prevent satisfaction of the conditions in Article&nbsp;VII. Except as provided in
Section&nbsp;5.15(c), Buyer shall have no obligation to accept such supplement to
the Disclosure Schedules or waive Breach of any of Seller&#146;s representations,
warranties or covenants in this Agreement or the occurrence of any event that
may prevent satisfaction
of the conditions in Article&nbsp;VII.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) By Buyer. From the date hereof through and including the Closing Date,
Buyer agrees to notify Seller promptly if Buyer obtains knowledge that any
representation or warranty of Buyer or Seller
</FONT>
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<P align="left"><FONT size="2">in this Agreement or any
agreement contemplated hereby or information set forth in the Disclosure
Schedules hereto is not true and correct in all material respects, or if Buyer
obtains knowledge of any material errors in, or omissions from, the Disclosure
Schedules to this Agreement; provided, that any such knowledge and/or
disclosure shall not affect Buyer&#146;s rights to terminate this Agreement or to
assert an indemnification claim against Seller following the Closing Date, to
the extent that Buyer is entitled to such remedies hereunder.
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Seller may, in the Ordinary Course of Business, prior to Closing,
replace any Vehicle or item of Equipment listed in Schedule&nbsp;2.1(a) with a
substitute Vehicle or Equipment item of equal or better condition and
capability, and in such event, Seller may amend the Disclosure Schedule to
reflect such change; provided, however that Seller shall provide written notice
to Buyer of any substitution of Vehicles or Equipment in excess of $10,000
individually. If any of the Assigned Contracts, other than a Contract listed on
Schedule&nbsp;5.10, should expire or be terminated under its provisions prior to
Closing, other than as a reason of a default by Seller, then Seller may amend
Schedule&nbsp;3.11 to reflect such change. Seller may add to Schedule&nbsp;3.11 any new
or replacement Contracts entered into by Seller prior to Closing, in the
Ordinary Course of Business with respect to operation of the Business in
accordance with past practices, other than any agreements with (i)&nbsp;any
affiliate of Seller, (ii)&nbsp;any agreements whereby Seller incurs future
obligations as settlement of past liabilities, (iii)&nbsp;any agreements respecting
the incurrence of debt for borrowed money or affixing a lien or encumbrance on
any of the Acquired Assets, (iv)&nbsp;any agreements not cancelable by Seller on 90
days notice. Any new or replacement Contracts added pursuant to this subsection
(c)&nbsp;shall become Assigned Contracts, provided that such changes do not result
in the occurrence of a Material Adverse Change. Seller may amend Schedule&nbsp;3.7
to reflect mailers revealed in any Phase I Environmental Assessments performed
by Buyer, subject to Buyer&#146;s right to terminate this Agreement pursuant to
Articles XII.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Section&nbsp;5.15 shall not apply with respect to any Real Property
title matters, which are governed by Section&nbsp;5.22.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16 &#091;Omitted.&#093;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17 <B>Post-Closing Non-Competition Covenant</B>. Neither Seller nor Seller&#146;s
Guarantor, nor any of their Affiliates, shall for a period of three (3)&nbsp;years
after Closing engage directly or indirectly (whether, without limitation,
individually or as a partner, joint venturer, shareholder, financier or lender
of any entity) in any business which is the same as, substantially the same as,
or substantially similar to the Acquired Assets and Business being transferred
to Buyer hereunder or the &#147;Acquired Assets&#148; and &#147;Business&#148; being transferred to
Midstream under the Additional Purchase Agreement within the limits of the
counties or parishes adjacent to the U.S. Gulf of Mexico Coastline and Harris
County, Texas, Orleans Parish, Louisiana and Jefferson Parish, Louisiana.
Further, neither Seller, nor Seller&#146;s Guarantor, nor any of their Affiliates
shall solicit directly or indirectly (whether, without limitation, individually
or as a partner, joint venturer, shareholder, financier or lender of any
entity) any current customers of Seller for any business related to the
Business in competition with Buyer for such three (3)&nbsp;year period and within
such specified territory; provided however, that nothing in this Section&nbsp;5.17
shall restrict in any manner either Seller, Seller&#146;s Guarantor, or any of
Seller&#146;s or Seller&#146;s Guarantor&#146;s Affiliates from engaging in the business of
(i)&nbsp;the Bunkering of petroleum products, or (ii)&nbsp;refining, distributing and
marketing petroleum products, other than the distribution and marketing of such
products in the manner which would compete with the Business or the use of the
Acquired Assets and the Business by Buyer. Seller recognizes and agrees that
any violation of these covenants will result in irreparable harm to Buyer for
which money damages will not alone be an adequate remedy and that Buyer shall
be entitled to equitable relief without the necessity of posting any bond
therefor. Each of Seller, Seller&#146;s Guarantor, and their respective Affiliates
acknowledges and agrees that: (i)&nbsp;the scope of this Section&nbsp;5.17 in time,
geography and types and limits of activities is reasonable and no greater than
required for the protection of the legitimate business interests of Buyer in
the Acquired Assets and the Business; (ii)&nbsp;it imposes no undue hardship on any
of Seller, Seller&#146;s Guarantor, or any of their respective Affiliates; and (iii)
if this Section&nbsp;5.17 is found
</FONT>
<P align="center"><FONT size="2">24
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<P align="left"><FONT size="2">by any court having jurisdiction to be too broad
in scope, whether as to activities, time period, geographic area or otherwise,
this Section&nbsp;5.17 will nevertheless remain effective but will be considered
amended to the extent considered by such court to be reasonable, and will be
fully enforceable as so amended.
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.18
<B>Removal of Seller Marks</B>. Buyer agrees that, within six (6)&nbsp;months
after the Closing Date, Buyer shall (i)&nbsp;remove, obliterate, cover or replace,
as appropriate, all signs, billboards, Vessel names, Vehicle identifications,
logos, identifications, drum and tank markings, advertisements or other media
containing any of Seller&#146;s corporate or company names, service marks, trade
names, trade dress or other indicia of origin of Seller, located on or
appurtenant to any of the Acquired Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.19 <B>Seller&#146;s Access to Books and Records and Personnel</B>. For a period of
seven years from the Closing Date (or such longer period as may be requited by
any Governmental Body or requested by Seller in connection with disputes or
litigation):
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Buyer shall neither dispose of nor destroy any of the books and
records delivered to Buyer in connection with the Closing without first
offering to turn over possession thereof to Seller, by written notice to Seller
at least 30&nbsp;days prior to the proposed date of such disposition or destruction;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Buyer shall allow Seller and their agents reasonable access to such
books and records during normal working hours at the offices of Buyer at which
such books and records are located;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Buyer shall make available to Seller upon written request therefor (i)
copies of any such books and records, (ii)&nbsp;Buyer&#146;s personnel to assist Seller
in locating and obtaining any such books and records, and (iii) any of Buyer&#146;s
personnel who were employed by Seller prior to the Closing Date and whose
assistance or participation is reasonably required by Seller in connection with
existing or future litigation, tax returns or other matters in which Seller is
involved relating to the Business, to Seller&#146;s ownership of the Acquired
Assets, to the Retained Obligations or to a matter for which Seller is an
Indemnitor under Article&nbsp;10. Seller shall reimburse Buyer for the reasonable
out-of-pocket expenses incurred by Buyer in performing the covenants contained
in this Section&nbsp;5.19; and
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Seller&#146;s access under this Section&nbsp;5.19 shall not unreasonably
interfere with Buyer&#146;s continuing operations or business and shall be subject
to Buyer&#146;s customary safety and security policies and shall be subject to any
legal privileges that may then be applicable.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20 <B>Buyer&#146;s Access to Books and Records and Personnel</B>. For a period of
seven years from the Closing Date (or such longer period as may be required by
any Governmental Body or requested by Seller in connection with disputes or
litigation):
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Seller shall neither dispose of nor destroy any of the books and
records (other than e-mail records or records regarding the conduct of the
Business at times prior to seven years prior to the Closing Date) retained by
Seller relating to the ownership or operation of the Acquired Assets or the
Business without first offering to turn over possession thereof to Buyer, by
written notice to Buyer at least 30&nbsp;days prior to the proposed date of such
disposition or destruction;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Seller shall allow Buyer and their agents, reasonable access to such
books and records during normal working hours at the offices of Seller at which
such books and records are located;
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Seller shall make available to Buyer upon written request therefor (i)
copies of any such books and records, (ii)&nbsp;Seller&#146;s personnel to assist Buyer
in locating and obtaining any such books and records, and (iii)&nbsp;any assistance
or participation reasonably required by Seller in connection with existing or
future litigation, tax returns or other matters in which Buyer is involved,
relating to the Business, to Seller&#146;s ownership of the Acquired Assets, to the
Assumed Obligations or to a matter for which Buyer is an Indemnitor under
Article&nbsp;10. Buyer shall reimburse Seller for the reasonable out-of-pocket
expenses incurred by Seller in performing the covenants contained in this
Section&nbsp;5.20; and
</FONT>
<P align="center"><FONT size="2">25
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Buyer&#146;s access under this Section&nbsp;5.20 shall not unreasonably
interfere with Seller&#146;s continuing operations or business and shall be subject
to Seller&#146;s customary safety and security policies and shall be subject to any
legal privileges that may then be applicable.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21 <B>Post-Closing Matters: Accounting. </B>The Parties acknowledge that Seller
is not assigning to Buyer any accounts receivable and that, although customers
will be notified promptly of changes in payment procedures, revenues may be
received by either Party attributable to performance under Assigned Contacts
either to periods prior to or following the Closing. Buyer and Seller agree,
consistent with their normal business practices, to cooperate in collecting and
accounting for accounts receivable earned prior to the Closing Date and to
ensure that any receipts attributable to any period prior to the Closing
received by Buyer and any receipts attributable to any period after Closing
received by Seller shall be promptly accounted for and remitted to the
appropriate Party. After Closing, Buyer shall provide all such assistance and
cooperation as may be reasonably requested by Seller, in order to allow Seller
to collect receivables attributable to any period prior to the Closing. Seller
shall reimburse Buyer for the reasonable out-of-pocket expenses incurred by
Buyer in providing such assistance. The Parties further agree to develop a
procedure on or prior to Closing to implement the foregoing. Such procedure
shall include provision for identifying and matching payments received and
remitting periodically funds collected from customers which are due the other
Party.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.22 <B>Title Matters.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Within twenty (20)&nbsp;days following the date of this Agreement, Seller
shall cause the Title Company to issue, and shall deliver to Buyer a current
Title Commitment (i)&nbsp;for each parcel of Owned Real Property, (ii)&nbsp;for each
parcel of Leased Real Property for which a Title Commitment and Title Policy
are to be provided as indicated on Schedule&nbsp;3.9(b), and (iii)&nbsp;to the extent not
covered by (i)&nbsp;or (ii)&nbsp;above, for each parcel constituting Class&nbsp;One Real
Property, which reflects the condition of title that will be transferred at the
Closing. Section&nbsp;5.22 (b) shall govern with respect to title matters affecting
Class&nbsp;One Real Property, and Section&nbsp;5.22(c) shall govern with respect to title
matters affecting Class&nbsp;Two Real Property. In addition, Seller shall use its
commercially reasonable efforts (which shall not require the expenditure of
funds in excess of $10,000) to cause the Title Company to issue, and shall use
its commercially reasonable efforts to deliver to Buyer a current Title
Commitment for the Leased Real Property covered by that certain Full Terminal
Service Agreement dated effective August&nbsp;1, 1997, between Eagle Operations
Coordinators, Inc. and Tesoro Coastwide Services Company, as amended (the
&#147;Berwick Leased Real Property&#148;) within thirty (30)&nbsp;days following the date of
this Agreement. To the extent such Title Commitment is obtained for the Berwick
Leased Real Property, the Berwick Leased Real Property shall be considered
Leased Real Property constituting Class&nbsp;One Real Property, and the provisions
of subsection (b)&nbsp;below shall be applicable to the Berwick Leased Real
Property. In the event a Title Commitment is obtained for the Berwick Leased
Real Property later than the twenty (20)&nbsp;days after the date of this Agreement,
then either Party may extend the Closing Date to a date not later than November
31, 2003 by providing written notice to the other Party.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Class&nbsp;One Real Property.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Within five (5)&nbsp;Business Days after Buyer&#146;s receipt of the Title
Commitments referred to in Section&nbsp;5.22(a) above, or for Title Commitments
received prior to the date hereof, within five (5) Business Days of the
date hereof, pertaining to any Class&nbsp;One Real Property, Buyer may object
to any title matter reflected thereon by written notice to Seller,
provided that the title matter (A)&nbsp;would materially and adversely affect
the ability of the Buyer to conduct business at the subject Real Property
in the manner in which it is currently being conducted by Seller, or (B)
would materially reduce the fair market value of the subject Owned Real
Property, or (C)&nbsp;would materially reduce the fair market value of Seller&#146;s
leasehold interest in the subject Leased Real Property, and (D)&nbsp;was not
caused directly or indirectly by Buyer. If Buyer fails to so notify Seller
of any title matter reflected on a Title Commitment pertaining to any
Class&nbsp;One Real
</FONT>
<P align="center"><FONT size="2">26</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">Property, or if any such title matter is not properly objectionable (as
specified above), then such title matter shall be deemed accepted by Buyer. If
Buyer properly objects in writing within the twenty-day period, Seller shall,
at its expense, use commercially reasonable efforts to cure the title matter
objected to by causing the Title Company to either: (A)&nbsp;remove
such matter from
the Title Commitment in its entirety, or (B)&nbsp;provide express insurance coverage
with respect to such matter reasonably acceptable to Buyer. Seller shall notify
Buyer of its election at least three (3)&nbsp;Business Days (or as soon as
reasonably possible once the Closing Date is established) prior to the Closing
and, in the event the Title Commitment is so revised, provide Buyer with a new
Title Commitment reflecting either (i)&nbsp;the removal of the objectionable matter
from the Title Commitment or (ii)&nbsp;reflecting the express insurance coverage.
All title matters accepted or deemed accepted pursuant to this Section&nbsp;5.22(b)
shall become Permitted Encumbrances.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Within five (5)&nbsp;days after discovery, either party shall inform the
other in writing of any new title matter concerning any Class&nbsp;One Real Property
that arises for the first time after the date of this Agreement and before the
Closing and is not reflected in any Title Commitment pertaining to any Class
One Real Property. If the new title matter meets the criteria for
objectionability set out in Section&nbsp;5.22(b)(i), and is a title matter that will
be reflected on the applicable Title Commitment as an exception to coverage,
then Buyer may object thereto by written notice to Seller within five (5)
Business Days after Buyer&#146;s initial discovery or Buyer&#146;s receipt of notice from
Seller as to such new title matter. If Buyer fails to so notify Seller, or if
the new title matter is not properly objectionable (as specified above), then
such new title matter shall be deemed accepted by Buyer. If Buyer properly
objects in writing within five (5)&nbsp;Business Days Seller shall, at its expense,
use commercially reasonable efforts to cure the title matter objected to by
causing the Title Company to either: (A)&nbsp;remove such matter from the Title
Commitment in its entirety, or (B)&nbsp;provide express insurance coverage with
respect to such matter reasonably acceptable to Buyer. Seller shall notify
Buyer of its election at least three (3)&nbsp;Business Days (or as soon as
reasonably possible once the Closing Date has been established) prior to the
Closing. All title matters accepted or deemed accepted pursuant to this Section
5.22(b)(ii) shall become Permitted Encumbrances. If the new title matter is
discovered by or disclosed to Buyer later than ten (10)&nbsp;days prior to Closing,
the Closing Date may, at the option of either Party, be extended for up to ten
(10)&nbsp;days, such option to be exercised by notice to the other party which shall
specify the new Closing Date.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Within twenty (20)&nbsp;days following the date of this Agreement Seller
shall, at its expense, obtain new or updated surveys of (A)&nbsp;each parcel of the
Owned Real Property that is Class&nbsp;One Real Property and (B)&nbsp;each parcel of
Leased Real Property that is Class&nbsp;One Real Property. In the event a Title
Commitment is obtained for the Berwick Leased Real Property, Seller shall
provide a new survey thereof within thirty (30)&nbsp;days following the date of this
Agreement. Each Survey of Class&nbsp;One Real Property located in Texas shall be a
Texas Board of Professional Land Surveyors Surveyor&#146;s Manual
Condition II Land
Title Survey. Each Survey of Class&nbsp;One Real Property located in Louisiana shall
be a Class&nbsp;B Property Boundary Survey meeting the minimum surveying standards
established by the Louisiana Professional Engineering and Land Surveying Board.
All Surveys shall specify the location of all improvements and encroachments as
well as easements and rights of way and all other exceptions to title which are
reflected on the applicable Title Commitment and may be reasonably shown on the
Survey. Upon completion of each Survey, Seller shall deliver to Buyer five (5)
copies thereof. Any title matter meeting the criteria set forth in Section
5.22(b)(i) and revealed by a Survey of Class&nbsp;One Real Property shall be subject
to the same procedures for new title matters specified in Section&nbsp;5.22(b)(ii).
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In the event Buyer properly objects to a title matter pursuant to
Sections&nbsp;5.22(b)(i), 5.22(b)(ii) or 5.22(b)(iii) and Seller is unable to cure
such matter in accordance with
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">the provisions of Section&nbsp;5.22(b)(i) or Section&nbsp;5.22(b)(ii), as the case may
be, then Buyer may, by notice to Seller delivered prior to Closing, terminate
this Agreement and the Deposit shall be returned to Buyer.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Class&nbsp;Two Real Property.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Within five (5)&nbsp;Business Days after Buyer&#146;s receipt of a Title
Commitment pertaining to Class&nbsp;Two Real Property (excluding the Venice Site),
or for Title Commitments received prior to the date hereof, within
five&nbsp;(5)
Business Days of the date hereof) Buyer may object to any title matter
reflected thereon by written notice to Seller, provided that the title matter
(A)&nbsp;would materially and adversely affect the ability of the Buyer to conduct
business at the subject Owned Real Property manner in which it is currently
being conducted by Seller or (B)&nbsp;would materially reduce the fair market value
of the subject Real Property, (C)&nbsp;would materially reduce the fair market value
of Buyer&#146;s leasehold interest in the subject Leased Real Property, (D)&nbsp;is not a
Permitted Encumbrance, and (E)&nbsp;was not caused directly or indirectly by Buyer.
If Buyer fails to so notify Seller of any title matter reflected on a Title
Commitment pertaining to Class&nbsp;Two Real Property, or if any such title matter
is not properly objectionable (as specified above), then such title matter
shall be deemed accepted by Buyer. If Buyer properly objects in writing within
the five (5)&nbsp;Business Day period, Seller shall elect to do one of the following
at its expense: (A)&nbsp;cure such matter by causing the Title Company to remove
such matter from the Title Commitment in its entirety (B)&nbsp;cure such matter by
causing the Title Company to provide express insurance coverage with respect to
same reasonably acceptable to Buyer; or (C)&nbsp;indemnify Buyer against such new
exception in form and substance reasonably acceptable to Buyer. Seller shall
notify Buyer of its election at least three (3)&nbsp;Business Days (or as soon as
reasonably possible once the Closing Date is established) prior to the Closing
and, unless Seller elects to indemnify Buyer, provide Buyer with a new Title
Commitment reflecting either (i)&nbsp;the removal of the objectionable matter from
the Title Commitment or (ii)&nbsp;reflecting the express insurance coverage. If
Seller elects to indemnify Buyer then Seller shall deliver to Buyer at Closing
an indemnity agreement reasonably satisfactory to Buyer and complying with this
Section&nbsp;5.22(c)(i) with regard to a title matter objected to by Buyer. Upon
Seller&#146;s compliance with its obligations under this Section&nbsp;5.22(i) with regard
to a title matter objected to by Buyer such matter shall be deemed accepted by
Buyer. All title matters accepted or deemed accepted pursuant to this Section
5.22(c)(i) shall become Permitted Encumbrances.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)
Within five&nbsp;(5) Business Days after discovery, either party shall
inform the other in writing of any new title matter affecting any Class&nbsp;Two
Real Property (excluding the Venice Site) that arises for the first time after
the date of this Agreement and before the Closing and is not reflected in any
Title Commitment pertaining to Class&nbsp;Two Real Property. If the new title matter
(A)&nbsp;would materially and adversely affect the ability of the Buyer to conduct
business at the subject Real Property in the manner in which it is currently
being conducted by Seller, or (B)&nbsp;would materially reduce the fair market
value of the subject Owned Real Property, or (C)&nbsp;would materially reduce the
fair market value of Seller&#146;s leasehold interest in the subject Leased Real
Property, and (D)&nbsp;is a title matter that will be reflected on the applicable
Title Commitment as an exception to coverage, and (E)&nbsp;was not caused directly
or indirectly by Buyer, then Buyer may object thereto by written notice to
Seller within five (5)&nbsp;Business Days after Buyer&#146;s initial discovery or Buyer&#146;s
receipt of notice from Seller as to such new title matter. If Buyer fails to so
notify Seller, or if the new title matter is not properly objectionable (as
specified above), then such new title matter shall be deemed accepted by Buyer.
If Buyer properly objects in writing within the five (5)&nbsp;Business Day period,
Seller shall elect to do one of the following at its expense: (A)&nbsp;cure such
matter by causing the Title Company to remove such matter from the
Title
Commitment in its entirety (B)&nbsp;cure such matter by causing the Title Company to
provide express insurance coverage with respect to same reasonably acceptable
to Buyer; or (C)&nbsp;indemnify Buyer against
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">such new exception in form and substance reasonably acceptable to
Buyer. Seller shall notify Buyer of its election at least three
(3)&nbsp;Business Days (or as soon as reasonably possible once the
Closing Date has been established) prior to the Closing and,
unless Seller elects to indemnify Buyer, provide Buyer with a new
Title Commitment reflecting either (i)&nbsp;the removal of the
objectionable matter from the Title Commitment or (ii)&nbsp;reflecting
the express insurance coverage. If Seller elects to indemnify
Buyer than Seller shall deliver to Buyer at Closing an indemnity
agreement reasonably satisfactory to Buyer and complying with
this Section&nbsp;5.22(c)(ii) with regard to a title matter objected
to by Buyer. Upon Seller&#146;s compliance with its obligations under
this Section&nbsp;5.22(c)(ii) with regard to a title matter objected
to by Buyer such matter shall be deemed accepted by Buyer. All
title matters accepted or deemed accepted pursuant to this
Section&nbsp;5.22(c)(ii) shall become Permitted Encumbrances. If the
new title matter is discovered by or disclosed to Buyer later
than ten (10)&nbsp;days prior to Closing, the Closing Date may, at the
option of either party, be extended for up to ten (10)&nbsp;days, such
option to be exercised by notice to the other party which shall
specify the new Closing Date.
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Within twenty (20)&nbsp;days following the date of this
Agreement, Seller shall, at its expense, obtain new or updated
surveys of (A)&nbsp;each parcel of the Owned Real Property that is
Class&nbsp;Two Real Property, and (B)&nbsp;each parcel of Leased Real
Property that is Class&nbsp;Two Real Property for which a Survey is to
be provided as indicated on Schedules 3.9(a) and (b). All
Surveys shall specify the location of all improvements and
encroachments as well as easements and rights of way and all
other exceptions to title which are reflected on the applicable
Title Commitment and may be reasonably be shown on the Survey.
Each Survey of Class&nbsp;Two Real Property located in Texas shall be
a Texas Board of Professional Land Surveyors Surveyor&#146;s Manual
Condition II Land Title Survey. Each Survey of Real Property
located in Louisiana shall be a Class&nbsp;B Property Boundary Survey
meeting the minimum surveying standards established by the
Louisiana Professional Engineering and Land Surveying Board. Upon
completion of each Survey, Seller shall deliver to Buyer five (5)
copies thereof. Any title matter meeting the criteria set forth
in Section&nbsp;5.22(c)(i) and revealed by a Survey of Class&nbsp;Two Real
Property (excluding the Venice Site), shall be subject to the
same procedures for new title matters specified in Section
5.22(c)(ii).
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) For purposes of this Section&nbsp;5.22(c), any title or
Survey matter which Buyer properly objects to and which is not
cured by Seller prior to Closing in accordance with Section&nbsp;5.22(c)(i) or Section&nbsp;5.22(c)(ii), as the case may be, shall be
referred to herein as an &#147;Uncured Title Matter.&#148; In the event the
reasonable cost of curing all Uncured Title Matters together with
any reduction in the fair market value of any Uncured Title
Matters that have not been cured exceeds, in the aggregate,
$1,000,000.00, then Buyer may, by notice to Seller delivered
prior to Closing, terminate this Agreement and the Deposit shall
be returned to Buyer.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any provision herein to the contrary, Seller
shall be obligated to obtain the release of, or otherwise cause the
Title Company to issue its Title Policy that does not except from
coverage, any mortgage lien, mechanic&#146;s lien, judgment lien or similar
encumbrance securing the payment of monetary obligation(s) owed or
alleged to be owed by Seller which is reflected on any Title
Commitment or update thereto.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) At Closing, Seller shall cause the Title Company to issue,
(i)&nbsp;as to each parcel of Owned Real Property being conveyed by Seller,
and (ii)&nbsp;for each parcel of Leased Real Property, including the
Berwick Leased Real Property to the extent that a Title Commitment was
obtained pursuant to Section&nbsp;5.22(a) above, for which a Title
Commitment and Survey are to be provided as indicated on Schedule
3.9(b) and for which any required Consents have been obtained, in an
amount as set forth on Schedule&nbsp;5.22(e) hereto, Title Policies
consistent with the Title Commitments. Seller shall be responsible for
payment of the basic premium for the Title Policies and the cost of
any express insurance provided
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">pursuant to Sections&nbsp;5.22(b) or 5.22(c), and Buyer shall be responsible for the
payment of any additional premiums for all other special modifications or
endorsements requested by Buyer.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) At Closing, Seller shall (i)&nbsp;convey to Buyer, by Special Warranty Deed
substantially in the form of Exhibit&nbsp;D, Seller&#146;s right, title and interest to
all Owned Real Property located in Texas, (ii)&nbsp;convey to Buyer, by Amended Act
of Cash Sale substantially in the form as attached as Exhibit&nbsp;E, Seller&#146;s
right, title and interest in all Owned Real Property located in Louisiana, with
the exception of the Venice Site, which shall be conveyed by Quitclaim Deed
substantially in the form as attached as Exhibit E, and (iii)&nbsp;to the extent
any required Consents have been obtained, assign to Buyer Seller&#146;s right, title
and interest in the Leases, and Buyer shall assume the same, by Assignment and
Assumption Agreement substantially in the form attached as
Exhibit&nbsp;G.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)
As to matters affecting title to the Title Policy Real Property,
Seller&#146;s indemnification obligation pursuant to Section&nbsp;10.1(i) shall apply
only to those Losses the Title Company is unable to pay.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)
The matters set forth on Schedule&nbsp;3.9(c) shall be Permitted
Encumbrances; provided, however, that in the event Buyer receives, after the
date hereof, title information reflected on a new or updated Title Commitment
or Survey in addition to title information provided to Buyer prior to the date
hereof which, in Buyer&#146;s commercially reasonable judgment,
causes any matter
set forth on Schedule&nbsp;3.9(c) to be objectionable under the standards set out in
Sections 5.22(b) or 5.22(c), as applicable, then such matter shall not be a
Permitted Encumbrance under this Section&nbsp;3.9(h).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the event Buyer desires to terminate this Agreement pursuant to
this Section&nbsp;5.22 and there is a dispute between Seller and Buyer as to whether
Buyer may do so, and such dispute cannot be resolved within five (5)&nbsp;business
days after written notice of such disagreement, such matter shall be referred
to three mutually agreeable independent arbitrators (the &#147;Umpires&#148;) who shall
consist of the following: (i)&nbsp;one Umpire shall be an attorney who is Board
Certified by the Texas Board of Legal Specialization in Commercial Real Estate
Law, has practiced law for more than 15&nbsp;years, and has never represented any
party to the dispute, (ii)&nbsp;one Umpire shall be a real estate financial
specialist with at least 15&nbsp;years experience, and (iii)&nbsp;one Umpire shall be an
executive officer of a business with substantial real property experience. If
Seller and Buyer cannot promptly agree upon the Umpires, then Seller and Buyer
shall promptly arbitrate the matter of the selection of the Umpires before the
American Arbitration Association (&#147;AAA&#148;) in accordance with the Rules of the
AAA for the Real Estate Industry and utilizing the AAA&#146;s Expedited Procedures
and a single arbitrator, at the AAA office located in Dallas, Texas. Buyer and
Seller shall share equally in the costs of the AAA and the Umpires. Buyer and
Seller shall submit all non-privileged relevant information, including third
party work product, other reports and supporting documentation, to the Umpires.
Both Buyer and Seller shall have a right to make an oral presentation to the
Umpires. The Umpires shall consider all information submitted to it to make the
final determination, but shall not perform any additional title examination,
surveys or other site work, unless expressly agreed to by Buyer and Seller. The
Umpires&#146; determination, which shall require only a majority vote of the
Umpires, shall be delivered within fifteen (15)&nbsp;working days of the date the
matter is submitted for its determination, and shall be binding. If the
foregoing procedure has not been completed by the Closing Date, then the
Closing Date shall be extended to a date mutually acceptable to Seller and
Buyer or, if Seller and Buyer are unable to agree, to the date that is ten (10)
days following the date the dispute is resolved.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) In the event there is a dispute between the Parties with regard to any
matter addressed in this Section&nbsp;5.22 other than Buyer&#146;s right to terminate
this Agreement, (A)&nbsp;Closing shall occur in accordance with all other provisions
of this Agreement, (B)&nbsp;the matter in dispute shall be submitted to binding
arbitration before the AAA in accordance with the procedures set out in Section
5.22(i) promptly after Closing, and (C)&nbsp;the Parties shall take such
post-Closing actions as may be required by the arbitrator.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23 <B>Special Audit. </B>Seller acknowledges that Buyer will retain independent
auditors to conduct an audit of the Acquired Assets, the Business and the
&#147;Acquired Assets&#148; under the Additional
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">Purchase Agreement. The audit will be conducted in order to permit Buyer to
prepare financial statements that are required to be publicly disclosed by MMLP
under the Securities Exchange Act of 1934, as amended. Seller will cooperate
with, make information available to, and meet and consult with Buyer and
Buyer&#146;s auditors in order to allow Buyer to complete such audit. Seller shall
pay the first $100,000 of fees and costs associated with such audit and Buyer
will pay all fees and costs associated with such audit in excess of $100,000.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24 <B>Environmental Deficiencies. </B>Prior to the Closing, Seller shall
make application to obtain the Permits set forth on Schedule&nbsp;5.24(a).
Such environmental deficiencies shall be deemed to be cured when the
Acquired Asset affected by such environmental deficiency is able to be
used in the Business as if such environmental deficiency did not exist.
The cost of curing all environmental deficiencies pursuant to this
Section&nbsp;5.24 shall be subject to the limitations of Section&nbsp;11.1(d) of
this Agreement.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE VI &#151; CONDITIONS TO SELLER&#146;S OBLIGATION TO SELL THE ACQUIRED ASSETS.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligation of Seller to sell the Acquired Assets shall be
subject to the satisfaction of each of the following conditions, each of
which may be waived, in whole or in part, in the sole discretion of
Seller, by a written instrument signed by Seller:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <B>Representations, Warranties and Covenants. </B>The representations
and warranties of Buyer set forth in Article&nbsp;4 shall be true in all
respects, as of the Closing with the same effect as though made at the
Closing Date; and Buyer shall in all respects have performed all
obligations and complied with all covenants required by the Agreement to
be performed or complied with by Buyer on or prior to the Closing Date.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <B>Consents. </B>Seller shall have obtained all required Consents, set
forth on Schedule&nbsp;5.10.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <B>Payment of Cash Portion of Purchase Price. </B>At Closing, Buyer
shall have tendered payment of the balance of the Base Consideration and
the Estimated Price of Inventory, adjusted in accordance with the
provisions of Section&nbsp;9.2(d) of the Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <B>Closing Documents. </B>At Closing, Buyer shall have delivered to
Seller the documents listed in Section&nbsp;9.2.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <B>Additional Purchase Agreement. </B>All conditions to Seller&#146;s
obligations to sell assets under the Additional Purchase Agreement shall
have been satisfied or waived by Seller, as provided under the
Additional Purchase Agreement.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE VII &#151; CONDITIONS TO MMLP&#146;S AND BUYER&#146;S OBLIGATIONS TO PURCHASE THE ACQUIRED ASSETS.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligations of MMLP and Buyer to purchase the Acquired Assets
shall be subject to the satisfaction of each of the following
conditions, each of which may be waived, in whole or in part, in the
sole discretion of MMLP and Buyer, by a written instrument signed by
MMLP and Buyer:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <B>Representations, Warranties and Covenants. </B>The representations
and warranties of Seller set forth in Article&nbsp;III, and all other
representations and warranties of Seller contained herein shall be
accurate, true, and complete in all respects, as of the Closing with
the same effect as though made on the Closing Date, but subject to
Section&nbsp;8.3, without giving effect to any supplemental disclosures to
the Disclosure Schedules other than those contemplated by Section
5.15(c) and Section&nbsp;3.7 (to the extent any update is made with respect
to the Phase I Environmental Assessment conducted by Buyer) of this
Agreement. Seller shall in all respects, but subject to Section&nbsp;8.3,
have performed all obligations and complied with all covenants required
by the Agreement to be performed or complied with by Seller on or
prior to the Closing Date.
</FONT>
<P align="center"><FONT size="2">31
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <B>No Material Changes in Business or Acquired Assets. </B>From the date of the
Agreement through the Closing Date, but subject to the provisions of Section
8.3 of this Agreement, there shall not have occurred any Material Adverse Change
with respect to the Business or the Acquired Assets together with the &#147;Acquired
Assets&#148; under the Additional Purchase Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 <B>Closing Documents. </B>At Closing, Seller shall have delivered to Buyer
the documents listed in Section&nbsp;9.3.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4
<B>Consents. </B>Seller shall have obtained all required Consents set forth
on Schedule&nbsp;5.10.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 <B>Uncured Title Matters. </B>Seller shall have cured any title matters that
Seller is required to cure pursuant to Section&nbsp;5.22(b) with respect to the
Class&nbsp;One Real Property.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 <B>Critical Assets. </B>All of the Critical Assets shall be in good repair
and condition, ordinary wear and tear excepted, so as to permit the continued
use and operation of the Business consistent with Seller&#146;s past practices.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 <B>Additional Purchase Agreement. </B>All conditions the Midstream&#146;s
obligations to purchase assets under the Additional Purchase Agreement shall
have been satisfied or waived by Midstream, as provided under the Additional
Purchase Agreement.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE VIII &#151; CONDITIONS TO OBLIGATIONS OF ALL PARTIES</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Seller to sell, and the Buyer to purchase, the
Acquired Assets shall be subject to the following additional conditions:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <B>Notifications.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At least two business days prior to the Closing Date, Seller shall
provide Buyer with the following information:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(i)&nbsp;Wire transfer instructions, designating the account information
where the cash portion of the Purchase Price is to be delivered;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(ii)&nbsp;A statement reflecting the proration of ad valorem taxes and
other prepayments to be included in the adjustments at Closing with
respect to the Acquired Assets under this Agreement and the
Additional Purchase Agreement; and
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(iii)&nbsp;A statement of the Estimated Price of Inventory, in accordance with
Exhibit&nbsp;B.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 <B>Action or Proceeding. </B>There must not be any pending or threatened
Proceeding against Buyer or Seller, or against any Affiliate of Buyer or
Seller, (a)&nbsp;involving any challenge to, or seeking damages or other relief in
connection with, any of the transactions contemplated under this Agreement and
the Additional Purchase Agreement, or (b)&nbsp;that may have the effect of
preventing, delaying, making illegal, or otherwise interfering with any of the
transactions contemplated under this Agreement and the Additional Purchase
Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 <B>Exceptions for Changes or Defects in Acquired Assets.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as otherwise provided in this Agreement, any Breaches of
Seller&#146;s representations and warranties set forth in Article&nbsp;3 or any Loss or
casualty, including any Total Loss, any reduction in the Purchase Price, and
any changes in the Disclosure Schedules made pursuant to Section&nbsp;5.15(c) shall
be Conditions to Closing for either Buyer or Seller, if and only if the effect
of such matters in the aggregate would result in a Material Adverse Change to
Business or the Acquired Assets.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of Section&nbsp;8.3(a) shall not apply to Breaches of
Sections&nbsp;3.1 or 3.2.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any Breaches in the representations and warranties in Section&nbsp;3.9
concerning title to the Real Property, shall be conditions to Closing only to
the extent provided in Section&nbsp;5.22, provided however, that the effect of any
such Breaches may be included within the aggregate effect to determine if
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">a Material Adverse Change has occurred as set forth in Section&nbsp;8.3(a). Seller
may amend Schedule&nbsp;3.9(c)
to the extent that any title defect is deemed to be a Permitted Encumbrance
under Sections&nbsp;5.22(b) or (c)
or is resolved as an Uncured Title Matter in accordance with
Section&nbsp;5.22(c)(iv).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 <B>Additional Purchase Agreement. </B>The transactions contemplated by the
Additional Purchase Agreement shall be completed simultaneously with the
Closing of this Agreement.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE IX &#151; CLOSING.</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <B>General. </B>The Closing shall, unless another date or place is agreed to
in writing by the Parties hereto, take place on the Closing Date, if all
conditions to the purchase and sale of such Acquired Assets have been satisfied
or waived on or before such date, or, if this Agreement has not been terminated
pursuant to Article&nbsp;XII, as soon as practicable following the satisfaction or
waiver of all such conditions if all such conditions have not been satisfied or
waived on or before such date.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <B>Buyer&#146;s Closing Documents and Payment. </B>Buyer shall deliver to Seller
at the Closing the following:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(a)&nbsp;An assignment and assumption agreement, in the form of Exhibit G,
executed by Buyer, with respect to the Assigned Contracts being assigned
to Buyer;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(b)&nbsp;Resolutions of the general partner of Buyer authorizing the
transaction described in the Agreement;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(c)&nbsp;A certificate executed by Buyer to the effect that, except as
otherwise stated in such certificate, each of Buyer&#146;s representations
and warranties in the Agreement was true, complete, and accurate in
all respects as of the date of the Agreement and is true, complete,
and accurate in all respects as of the Closing Date as if made on the
Closing Date and that Buyer has complied with all of its covenants to
be performed under the Agreement prior to Closing;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(d)&nbsp;Payment by wire transfer of $24,537,000, as the remaining cash
portion of the Base Consideration, as adjusted for the following:
</FONT>
<P align="left" style="margin-left:12%; margin-right:0%"><FONT size="2">(i)&nbsp;any adjustments to the Base Consideration resulting from an
exercise of a
Preferential Right Purchase, as provided in Section&nbsp;2.7, or lost or
damaged Acquired
Assets, as provided in Sections&nbsp;2.3(b), 2.5, and 5.22; and
</FONT>
<P align="left" style="margin-left:12%; margin-right:0%"><FONT size="2">(ii)&nbsp;prorations for Taxes and prepayments, as provided in
Article&nbsp;XIV;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(e)&nbsp;Payment of the Estimated Price of Inventory;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(f)&nbsp;The Buyer&#146;s Partner Guarantee; and
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(g)&nbsp;Other documents reasonably required by Seller or its counsel in
order to more fully
consummate the transactions contemplated by the Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <B>Seller&#146;s Closing Documents. </B>Seller shall deliver to Buyer at the Closing the following:
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(a)&nbsp;Copies of all third-party Consents and notices or other evidence
reasonably satisfactory to Buyer of waiver of Preferential Purchase Rights
identified on Schedule&nbsp;5.10, together with any other governmental or third
party Consents and waivers Seller has received prior to Closing;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(b)&nbsp;The instruments of assignment and conveyance of the Real
Property and, to the extent any required Consents have been obtained,
the Leases as provided in Section&nbsp;5.22(f) hereof;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(c)&nbsp;An assignment and assumption agreement, in substantially the
form of Exhibit&nbsp;G, executed by Seller, assigning all of Seller&#146;s
right title and interest in and to the Assigned Contracts (other than
the Leases), except for any such right, title and interest which is
an Excluded Asset at the time of Closing, and for any Contract (other
than one of the Leases) which remains an Excluded Asset at Closing
because Consent to assignment has not been obtained, as
</FONT>
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<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">provided for in Section&nbsp;5.10, then other documentation reasonably
satisfactory to Buyer
providing the equivalent economic benefits thereof;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(d)&nbsp;For Acquired Assets which are Tangible Personal Property, the
following instruments, each warranting good title, free and clear of
Encumbrances except Permitted Encumbrances:
</FONT>
<P align="left" style="margin-left:12%; margin-right:0%"><FONT size="2">(i)&nbsp;two (2)&nbsp;original notarized Bills of Sale for the Acquired
Assets which are not Real Property, Leases, Contracts, Vessels or
Vehicles;
</FONT>
<P align="left" style="margin-left:12%; margin-right:0%"><FONT size="2">(ii)&nbsp;two original notarized Bills of Sale for each of the Vessels in
a form recordable with the United States Coast Guard, in
substantially the form of Exhibit&nbsp;H hereto;
</FONT>
<P align="left" style="margin-left:12%; margin-right:0%"><FONT size="2">(iii)&nbsp;transfers of Certificate of Title for all Vehicles, each
executed by Seller and in form reasonably satisfactory to the Buyer;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(e)&nbsp;Any and all United States Coast Guard documentation reasonably
required in connection with the transactions contemplated by the
Agreement;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(f)&nbsp;All plans, technical manuals, certificates, and drawings of the
Acquired Assets in Seller&#146;s possession;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(g)&nbsp;Assignment of all Permits included in the Acquired Assets;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(h)&nbsp;UCC-3&#146;s and releases of deeds of trust or mortgages and all other
satisfactions or releases of any Encumbrances against the Acquired Assets,
except Permitted Encumbrances, sufficient to convey clear title to the
Acquired Assets to Buyer, but subject to, with respect to the Real
Property, the Permitted Encumbrances;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(i)&nbsp;Resolutions of Seller&#146;s members and managers authorizing the
transactions described in the Agreement;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(j)&nbsp;Assignments of any Insurance Claims (whether for damages known to exist
at this time or which may occur on or prior to the Closing and which may
be discovered at any time in the future with respect to the Acquired
Assets);
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(k)&nbsp;Certificates of Good Standing for Seller in all jurisdictions where
Seller owns assets or operates;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(l)&nbsp;A certificate executed by Seller representing and warranting to Buyer
that each of
Seller&#146;s representations and warranties in the Agreement was accurate in
all respects as of the date of the Agreement and is accurate in all
respects as of the Closing Date as if made on the Closing Date (giving
full effect to any supplements to the Disclosure Schedules that were
delivered by Seller to Buyer and accepted by Buyer prior to the Closing
Date in accordance with Sections&nbsp;5.15 or 8.3), and that Seller has
complied in all respects with all of its covenants to be performed under
the Agreement prior to Closing;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(m)&nbsp;The Seller&#146;s Parent Guarantee;
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(n)&nbsp;The books and records of the Business included within the Acquired
Assets; and
</FONT>
<P align="left" style="margin-left:6%; margin-right:0%"><FONT size="2">(o)&nbsp;Other documents reasonably required by Buyer or its counsel in order
to more fully consummate the transactions contemplated by the Agreement.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE X &#151; INDEMNIFICATION.</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 <B>By Seller. </B>(a)&nbsp;Seller shall defend, indemnify, and hold harmless
Buyer and its managers, members, controlling persons, and Affiliates against,
any and all Losses, Including Seller EHS Liabilities except for Seller EHS
Liabilities for corrective action and/or remediation of soil, groundwater,
tanks, equipment or other real or personal property covered by Section&nbsp;10.5,
incurred or suffered by Buyer or any affiliate of Buyer (i)&nbsp;resulting from the
Breach of any representation or warranty made by Seller in
</FONT>
<P align="center"><FONT size="2">34
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">the Agreement as if such representation or warranty were made on and as of the
Closing Date without giving effect to any supplement to the Disclosure
Schedules other than those contemplated by Sections&nbsp;3.7 and 5.15(c) hereof,
(ii)&nbsp;resulting from any Breach by Seller of any covenant or obligation of
Seller contained in this Agreement or any other document delivered by Seller at
Closing pursuant to this Agreement, (iii)&nbsp;resulting from the assertion, filing
or recordation of any Encumbrance, or claim for recognition of any Encumbrance
or other adverse claim of title against the Acquired Assets other than the Real
Property (except to the extent provided in Section&nbsp;5.22(g)), accruing or
arising prior to the time of Closing, no matter when any such claims may be
asserted, filed or recorded, (iv)&nbsp;resulting from any and all debts, liabilities
or obligations of Seller, Including liabilities and obligations under any
Assigned Contracts, accruing or arising prior to the time of Closing, no matter
when such claims may be asserted, (v)&nbsp;resulting from any claim by any Person
for brokerage or finder&#146;s fees or commissions or similar payments based upon
any agreement or understanding alleged to have been made by any such Person
with Seller (or any Person acting on its behalf) in connection with any of the
transactions contemplated hereby, (vi)&nbsp;arising from Seller&#146;s or any
third-party&#146;s ownership, lease, possession, control or use of the Acquired
Assets or conduct of the Business prior to Closing, and (vii)&nbsp;arising from all
Retained Obligations or resulting from the Excluded Assets; provided, however,
no indemnity shall be owed by Seller to Buyer for Losses which are less than
$25,000 individually or until all Losses subject to such indemnities exceed
$250,000 in the aggregate; and provided, further, that with respect to Breaches
of the representations and warranties set forth in Section&nbsp;3.7 which would
require any necessary corrective action and/or remediation of soil,
groundwater, tanks, equipment and/or other real or personal property, Including
any Cleanup, the special provisions of Section&nbsp;10.5 shall apply. If the amount
of Losses for which indemnity is owed by Seller should exceed $250,000, then
Seller shall indemnify Buyer for the entire amount of all Losses which are
greater than $25,000 provided, however, that (w)&nbsp;no such indemnity shall be
owed by Seller to Buyer until all such Losses exceed $250,000 in the aggregate,
(x)&nbsp;once such aggregated $250,000 threshold has been reached, Seller shall not
be required to indemnify Buyer for the first aggregated $25,000 of all such
Losses, (y)&nbsp;once such aggregated $250,000 and initial aggregated $25,000
thresholds have been reached, Seller shall only be required to thereafter
provide indemnification for individual or aggregated Losses in excess of
$25,000, when such individual or aggregate Losses have accrued in successive
increments of at least $25,000, and (z)&nbsp;indemnification for Breaches of the
representations and warranties set forth in Section&nbsp;3.7 which would require any
necessary corrective action and/or remediation of soil, groundwater, tanks,
equipment and/or other real or personal property, Including any Cleanup, shall
be governed solely by the special provisions of Section&nbsp;10.5. Whenever Buyer
shall have incurred individual or aggregate Losses for which indemnification is
owed hereunder, as set forth above, such that Seller owes indemnification in an
amount equal to or greater $25,000, Buyer may provide Seller with an invoice
supporting its claim for indemnification in the amount owed, and Seller shall
be responsible for such indemnification. Buyer shall not thereafter provide
Seller with another invoice for indemnification unless and until subsequently
identified Losses for which indemnification is owed total an additional
amount equal to at least $25,000. For the avoidance of doubt and solely for
purposes of illustration, in the event that Buyer suffered Losses aggregating
$310,000, then Seller would be required to indemnify Buyer for $285,000 of such
Losses, being the difference between $310,000 and the $25,000 deductible amount
noted in clause (x)&nbsp;above. For the further avoidance of doubt and solely for
purposes of illustration, in the event that Buyer thereafter suffered
additional Losses aggregating only $20,000, then Seller would not be required
to indemnify Buyer for such $20,000 in Losses due to the fact that such
aggregated Losses do not exceed the $25,000 periodic threshold noted in clause
(y)&nbsp;above, but that once such $20,000 in aggregated Losses are coupled with at
least $5,001 in additional aggregated Losses (bringing all such additional
aggregated Losses to at least $25,001), then Seller shall be required to
indemnify Buyer for such $25,001 in additional aggregated Losses.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All limitations or other thresholds set forth in this Section&nbsp;10.1
shall apply to all Losses asserted pursuant to this Section&nbsp;10.1 plus all
Losses asserted pursuant to Section&nbsp;10.1 of the Additional Purchase Agreement,
in the aggregate. For avoidance of doubt, and solely for purposes of
illustration, if
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">there are $250,000 of Losses asserted pursuant to Section&nbsp;10.1(a) of this
Agreement and there are $100,000 of Losses asserted pursuant to Section&nbsp;10.1 of
the Additional Purchase Agreement, the total amount of Losses for which Seller
shall indemnify Buyer for shall be, in the aggregate, as between this Agreement
and the Additional Purchase Agreement $325,000 ($350,000 minus the $25,000
deductible set forth in clause (y)&nbsp;of Section&nbsp;10.1(a)).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2
<B>By Buyer. </B>Buyer shall defend, indemnify, and hold harmless
Seller and its managers, members, controlling persons, and affiliates in
respect of and against, any and all Losses incurred or suffered by the
Seller or their Affiliates resulting from (i)&nbsp;the Breach of any
representation or warranty of Buyer contained in the Agreement, (ii)&nbsp;any
Breach by Buyer of any covenant or obligation of Buyer contained in the
Agreement or any other document delivered by Buyer at Closing pursuant to
the Agreement, (iii)&nbsp;any and all debts, liabilities or obligations of
Buyer, Including liabilities and obligations under any Assigned
Contracts, accruing or arising after the time of Closing, and (iv)&nbsp;the
ownership, lease,
possession, or use of the Acquired Assets after the Closing, (v)&nbsp;the
Assumed Obligations, and (vi)&nbsp;any financial advisory fee, brokerage
commission, finder&#146;s fee, or like payment to any broker, agent, advisors,
or other Persons acting on behalf of Buyer in connection with the
transactions contemplated hereby.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3
<B>Notification and Handling of Third Party Claims.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Party shall notify the other Party in writing as promptly
as practicable whenever it shall determine that there are facts or
circumstances that render the other Party liable to the notifying Party
under this Section&nbsp;10.1 or Section&nbsp;10.2, giving full particulars about
the nature of the Loss for which indemnification may be claimed, the
expected amount of such Loss, and the basis for the claim for
indemnification. In addition, in the event that any Claim shall be
brought by any third Person or Governmental Body, which, if successful,
would render any Party liable to the other Party under this Article&nbsp;10,
then the Party seeking indemnification hereunder (the &#147;Indemnitee&#148;)
shall, as promptly as practicable after receiving notice or service of
process of such Claim, give written notice (a &#147;Claim Notice&#148;) thereof to
the Party from whom indemnification is sought (the &#147;Indemnitor&#148;). Such
Claim Notice shall describe in reasonable detail the nature of the Loss,
include a copy of all papers served with respect to an Action (if any)
and state the basis of such request for indemnification. Failure to
promptly notify the Indemnitor will not relieve the Indemnitor of any
liability that it may have to any Indemnitee, except to the extent that
the Indemnitor demonstrates that the Indemnitor is prejudiced by the
Indemnitee&#146;s failure to give such notice, and provided that the
Indemnitor shall not be liable for any defense or settlement costs or
expenses incurred by the Indemnitee prior to delivery of such notice.
Within 30&nbsp;days after receipt of any Claim Notice, the Indemnitor shall
notify the Indemnitee either that (i)&nbsp;the Indemnitor elects to defend the
Indemnitee against such Claim with counsel selected by the Indemnitor and
reasonably satisfactory to the Indemnitee, or that (ii)&nbsp;the Indemnitor
disputes its potential liability to indemnify the Indemnitee, provided
that such an aforesaid election by the Indemnitor to not assume the
defense of the Indemnitee for such Claim shall be subject to the right of
the Indemnitor to subsequently assume the defense of the Indemnitee for
such Claim at any time prior to settlement or final determination
thereof, provided that any such subsequent election shall not prejudice the rights
of the Indemnitee.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If either (i)&nbsp;the Indemnitor and the Indemnitee are both named
as parties to such Claim and the Indemnitee determines in good faith that
joint representation would be inappropriate, or (ii)&nbsp;an Indemnitee
determines in good faith that there is a reasonable probability that a
Proceeding may adversely affect it or its Affiliates other than as a
result of monetary damages for which it would be entitled to
indemnification under the Agreement, or (iii)&nbsp;the Claim involves Losses
that might be subject to indemnification hereunder and other Losses which
are not subject to indemnification hereunder, then the Party asserting
such issue shall notify the other Party accordingly within 30&nbsp;days after
receipt of the Claim Notice, and the Parties shall then negotiate in good
faith to obtain a joint defense (using either the same or separate
counsel, as appropriate) to allocate the costs of defense and the
potential liability for Losses on the Claim on an equitable basis, based
upon each Party&#146;s potential exposure for Losses subject
</FONT>
<P align="center"><FONT size="2">36
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">to indemnification, in comparison with Losses that are not subject to
indemnification hereunder. If the Indemnitee disputes that the Claim is
not one that is fully indemnified hereunder, then the Indemnitee shall be
entitled to proceed as provided under Paragraph&nbsp;10.3(d), but the
Indemnitor shall be liable for the Indemnitee&#146;s costs, expenses or Losses
only to the extent finally determined that the Claim is subject to
Indemnification hereunder by reason of an Action or settlement between the
Parties regarding such indemnification dispute.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If within 30&nbsp;days of receipt of a Claim Notice, the Indemnitor
notifies the Indemnitee of its election assume the full control of defense of a
Claim, (i)&nbsp;the Indemnitee shall not be liable to the Indemnitor for any costs
or expenses incurred by the Indemnitor in connection with such defense, (ii)&nbsp;it
will be conclusively established for purposes of the Agreement that the entire
Claim is within the scope of and subject to indemnification hereunder; (iii)
the Indemnitor will not, so long as it diligently conducts such defense, be
liable to the Indemnitee under this Article&nbsp;10 for any fees of other counsel or
any other expenses subsequently incurred by the Indemnitee in connection with
the defense of such Claim, and (iv)&nbsp;the Indemnitee shall not be liable to the
Indemnitor for any costs or expenses incurred by the Indemnitor in connection
with such defense, nor for any Losses rendered or assessed in connection with
such Claim, nor for any Losses resulting from the settlement of any such Claim
if settled by the Indemnitor with or without the written consent of the
Indemnitee, provided however that (iv)&nbsp;no compromise or settlement of such
Claim may be effected by the Indemnitor without the Indemnitee&#146;s consent unless
(A)&nbsp;there is no finding or admission of any violation of Legal Requirements or
any violation of the rights of any Person and no effect on any other claims
that may be made against the Indemnitee, and (B)&nbsp;the sole relief provided is
monetary damages that are paid in full by the Indemnitor; and (C)&nbsp;the
Indemnitee will have no liability with respect to any compromise or settlement
of such Claim effected without its consent; and (D)&nbsp;such settlement contains a
full and complete release of such Claim in favor of Indemnitee.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If the Indemnitor does not either (i)&nbsp;notify the Indemnitee the
Indemnitor intends to assume full defense of the Claim or (ii)&nbsp;provide notice
under Paragraph&nbsp;10.3(b) that a matter should be subject to a joint defense,
then subject to Indemnitor&#146;s subsequent election to assume such defense, the
Indemnitee may proceed to defend the claim using counsel of its choice, and to
the extent that the Claim is thereafter determined to be subject to
indemnification hereunder, the Indemnitor shall be obligated to reimburse the
Indemnitee for all costs and expenses incurred by the Indemnitee in connection
with defense of the claim and all Losses incurred by the Indemnitee in
connection with any judgment or order entered in an Action involving the Claim
or any settlement of such Claim, provided however, that the Indemnitor shall
not be liable for any Losses incurred in any settlement made without the
Indemnitor&#146;s consent, which consent shall not be unreasonably withheld.
Indemnitor&#146;s refusal to consent to any settlement that does not provide for a
complete release of the subject Claim in favor of Indemnitor shall not be
considered unreasonable.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each Party shall take all reasonable steps and use all commercially
reasonable efforts to mitigate any and all Losses. Each Party hereby waives, or
will procure the waiver of, any subrogation rights that its insurer may have
with respect to any indemnifiable Losses to the extent reasonably possible.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4
<B>Notification of Other Claims. </B>A claim for indemnification for any
matter not involving a third-party claim may be asserted by notice to the Party
from whom indemnification is sought.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5
<B>Seller&#146;s Indemnity for Environmental Remediation. </B>Seller shall
indemnify Buyer for Losses resulting from known and unknown Seller EHS
Liabilities concerning necessary corrective action and/or remediation of soil,
groundwater, tanks, equipment and/or other real or personal property, Including
any Cleanup, as provided in this Section&nbsp;10.5:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
Seller shall indemnify Buyer for such known Seller EHS Liabilities
based upon existing information contained in reviews and environmental site
assessments performed by or on behalf of Seller or Phase I Environmental
Reports prepared for Buyer prior to Closing. Seller&#146;s obligation to indemnify
Buyer for any and all Seller EHS Liabilities concerning necessary corrective
action and/or remediation of
</FONT>
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</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">soil, groundwater, tanks, equipment and/or other real or personal property,
Including any Cleanup, whether such Seller EHS Liabilities are known or
unknown as of the Closing, shall be limited to $2&nbsp;million.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Seller shall perform any corrective action or remediation, Including
any Cleanup, of any real or personal property to levels required by
applicable Environmental Laws or the Governmental Body with jurisdiction over
the facility, based on existing and applicable Legal Requirements effective
at the time of Closing. Such corrective action, including the remediation of
soil and/or groundwater, Including any Cleanup, may include, but is not
limited to, risk-based closure and/or natural attenuation, provided that
these are approved by the Governmental Body having jurisdiction over such
actions. Seller may not satisfy its obligations under this Section&nbsp;10.5
through the imposition of institutional controls, such as land-use
restrictions, without the prior written consent of Buyer, which consent shall
not be unreasonably withheld.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event a Seller EHS Liability, not within Seller&#146;s Knowledge
at Closing, concerning any necessary corrective action and/or remediation of
soil, groundwater, tanks, equipment and/or other real or personal property,
Including any Cleanup, is identified by Buyer on or for a period of five (5)
years after Closing, Buyer shall notify Seller in writing, promptly and with
reasonable particularity, and such notice shall be treated as a claim for
indemnification. Upon receipt of such written notice from Buyer, Seller shall
within thirty (30)&nbsp;days notify Buyer of either: (i)&nbsp;Seller&#146;s acceptance of
the claim, and upon its acceptance Seller shall manage such claim as a known
Seller EHS Liability in accordance with the applicable requirements of this
Section&nbsp;10.5; or (ii)&nbsp;Seller&#146;s rejection of the claim which notice shall
include a reasonable description of Seller&#146;s basis for rejection. If Seller
rejects such a claim, Seller and Buyer agree to negotiate in good faith to
resolve the matter within fifteen (15)&nbsp;days after Buyer&#146;s receipt of Seller&#146;s
notice. Should Buyer and Seller not reach an agreement to resolve the matter,
Buyer and Seller shall have a final determination of the matter made by a
mutually agreeable third party environmental engineering firm familiar with
baseline assessments and remediation in near-shore Gulf Coast areas. Buyer
and Seller shall share equally in such third party costs. Buyer and Seller
shall submit all relevant information, Including work product, reports and
supporting documentation, to such third party. The third party shall consider
all information submitted to it to make the final determination, but shall
not perform additional onsite studies and evaluations, unless expressly
agreed to by Buyer and Seller. The third party determination shall be
delivered within fifteen (15)&nbsp;working days of the date the matter is
submitted for its determination, and shall be binding.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In discharging its obligation to indemnify Buyer for known Seller
EHS Liabilities concerning necessary corrective action and/or remediation of
soil, groundwater, tanks, equipment and/or other real or personal property,
Including any Cleanup, Seller shall maintain sole responsibility for
management of, the corrective action, Including remediation and
correspondence with the appropriate Governmental Body, and Seller shall
regularly inform Buyer of the status of such remediation, corrective action
or Cleanup, consult with Buyer regarding actions to be taken, including the
scheduling or timing of such actions, as part of such corrective actions,
remediation or Cleanup, and provide Buyer with copies of all correspondence,
reports or other documents provided to or obtained from other parties
regarding any remediation, corrective action or Cleanup. Buyer shall not
unreasonably interfere with Seller&#146;s corrective action, remediation
activities or Cleanup and shall provide Seller reasonable access to perform
such activities, provided however that Seller&#146;s activities shall not
unreasonably interfere with Buyer&#146;s operations.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) In the event (i)&nbsp;there is a Release, not caused by the actions of
Seller, at an acquired
Terminal after Closing, where Seller has an existing obligation to perform
corrective action and/or
remediation or Cleanup and the Release contributes to a known Seller EHS
Liability, or (ii)&nbsp;there is a
Release not caused by the actions of Seller, at an acquired Terminal in
violation of applicable
Environmental Law within five (5)&nbsp;years from Closing, Buyer shall indemnify
Seller in accordance with
Section&nbsp;10.2 and in the case of (i)&nbsp;shall promptly notify Seller of such a
Release and Buyer shall be
</FONT>
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</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">responsible for the incremental cost to perform corrective action,
remediation and/or Cleanup. If Buyer and Seller cannot mutually agree,
through good faith negotiations on the incremental cost to perform corrective
action, remediation and/or Cleanup as a result of such a Release, then Buyer
and Seller shall have a final determination of the matter made by a mutually
agreeable third party environmental engineering firm familiar with
remediation in near-shore Gulf Coast areas. Buyer and Seller shall share
equally in such third party costs. Buyer and Seller shall submit all relevant
information, reports and supporting documentation, to such third party. The
third party shall consider all information submitted to it to make the final
determination, but shall not perform additional onsite studies and
evaluations, unless expressly agreed to by Buyer and Seller. The third party
determination shall be delivered within fifteen (15)&nbsp;working days of the date
the matter is submitted for its determination, and shall be binding upon the
Parties.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In the event Seller&#146;s obligation under this Section&nbsp;10.5 to indemnify
Buyer is triggered by a claim, complaint or legal proceeding, filed by a third
party, other than a Governmental Body, or involves the presence of Hazardous
Materials at a property that is not an acquired Terminal, then the procedures
set forth in Section&nbsp;10.3 herein shall apply.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Seller shall acquire all permits or other authorizations required by
applicable Environmental Laws or Governmental Body prior to performance of any
corrective action, remediation and/or Cleanup performed by Seller. Seller shall
be solely responsible for the generation, storage, transportation, and disposal
of any solid or hazardous waste generated during the course of such corrective
action. Seller shall cause its consultants and contractors to manage, label,
store, and remove from any Acquired Asset waste generated by Seller&#146;s
corrective action Including any Cleanup, in accordance with applicable
Environmental Laws. Seller and its consultants and contractors shall not
generate, manage, treat or store waste at any of the Acquired Assets without
the knowledge and consent of Buyer, which consent shall not be unreasonably
withheld; provided, however, that Buyer&#146;s refusal to consent to the onsite
treatment or greater than 90&nbsp;day accumulation of a &#147;hazardous waste&#148;, as that
term is defined by RCRA, shall not be considered unreasonable. Any party
entering any Acquired Asset to conduct corrective action, Including any
Cleanup, pursuant to this Section&nbsp;10.5 at the direction of Seller (Including
Seller&#146;s employees, agents, contractors, and consultants) shall provide Buyer
with evidence documenting that such party maintains insurance providing
coverage for bodily injury or property damage, worker&#146;s compensation, and
automobile liability in an amount reasonably acceptable to Buyer and naming
Buyer as an additional insured. Any party entering any of the Acquired Assets
following Closing shall (i)&nbsp;comply with all Legal Requirements, (ii)&nbsp;comply
with Buyer&#146;s safety and security policies, and (iii)&nbsp;not unreasonably interfere
with Buyer&#146;s operations or business.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE XI &#151; LIMITATIONS AND SURVIVAL.</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1
<B>Limitations and Caps on Losses and Indemnity.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For purposes of any indemnification pursuant to Article&nbsp;10, Losses
shall include any liability for interest, consequential damages, lost profits,
or statutory, punitive or exemplary damages owed to third parties, but Losses
shall not include any claim by either the Buyer or the Seller against the other
Party for any consequential damages, lost profits or statutory, punitive or
exemplary damages incurred or claimed by a Party to this Agreement or their
affiliated entities, nor may either Party, Seller&#146;s Parent Guarantor or Buyer&#146;s
Partner Guarantor assert any claim for any lost profits or incidental,
consequential, punitive, exemplary or statutory damages against another Party,
Seller&#146;s Parent Guarantor, Buyer&#146;s Partner Guarantor or their affiliated
entities, for any claims arising out of or relating to any actual or alleged
Breach of this Agreement or performance hereunder.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding anything to the contrary contained in this Agreement,
Seller&#146;s and Seller&#146;s Guarantor&#146;s aggregate liability for all Breaches and
indemnities hereunder together with Seller&#146;s and Seller&#146;s Guarantor&#146;s aggregate
liability under the Additional Purchase Agreement shall not exceed twenty six
million dollars ($26,000,000).
</FONT>


<P align="center"><FONT size="2">39
</FONT>


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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary contained in this Agreement,
Seller&#146;s and Seller&#146;s Guarantor&#146;s aggregate liability for all Breaches and indemnities
hereunder together with all Breaches and indemnities under the
Additional Purchase Agreement, other than
Losses resulting from Breaches of representations and warranties set forth in Sections&nbsp;3.1 and 3.2 of
this Agreement or the Additional Purchase Agreement and the representations and warranties concerning
title to the Acquired Assets set forth in Sections&nbsp;3.8 and 3.9 of this Agreement or the Additional
Purchase Agreement and the representations and warranties set forth in Section&nbsp;3.22 of this Agreement or
the Additional Purchase Agreement that relate to mailers affecting title, shall not exceed fifteen
million dollars ($15,000,000).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary contained in this Agreement,
Seller&#146;s obligation to indemnify Buyer for any and all Seller EHS Liabilities
concerning necessary corrective action and/or remediation of soil, groundwater,
tanks, equipment and/or other real or personal property, Including any Cleanup,
whether such Seller EHS Liabilities are known or unknown, shall not exceed two
million dollars
($2,000,000).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding anything to the contrary contained in this Agreement,
Buyer&#146;s and Buyer&#146;s Guarantor&#146;s aggregate liability under Section&nbsp;10.2 of this
Agreement, together with Midstream&#146;s and Midstream&#146;s Guarantor&#146;s aggregate
liability under Section&nbsp;10.2 of the Additional Purchase Agreement, shall not
exceed twenty seven million dollars ($27,000,000).
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 <B>Recourse</B>. Except as expressly provided herein, the remedies provided
in Article&nbsp;10 will not be exclusive of nor limit any other remedies that may be
available to Buyer or Seller. Except as provided in Sections&nbsp;3.7 and 8.3, the
waiver of any condition based on either the accuracy of any representation or
warranty or on the performance of or compliance with any covenant or
obligation, will not affect the right to indemnification, payment of damages,
or other remedy based on such representations, warranties, covenants, and
obligations.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 <B>Survival.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All representations, warranties, covenants, and obligations in the
Agreement, the Disclosure Schedules, the supplements to the Disclosure Schedules, the
certificate delivered pursuant to Section&nbsp;9.3(l), and any other certificate or document delivered pursuant to the
Agreement will survive the Closing for a period of twelve (12)&nbsp;months from the Closing Date, with the
exception of:
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(i)&nbsp;the representations and warranties set forth in Sections&nbsp;3.1 and
3.2, and the representations and warranties concerning title to the
Acquired Assets set forth in Sections&nbsp;3.8 and 3.9 and in the
instruments of assignment and conveyance of the Acquired Assets shall
not expire except in accordance with otherwise applicable statutes of
limitation;
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(ii)&nbsp;the representations and warranties set forth in Section&nbsp;3.17
concerning Taxes, which shall survive for the limitations period
applicable to Seller&#146;s obligations for payment of such Taxes;
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(iii)&nbsp;the representations and warranties set forth in Section&nbsp;3.7,
and any Retained Obligations or indemnity for Seller EHS Liabilities,
Including those set forth under Section 10.5, shall expire after five
(5)&nbsp;years from the Closing Date for a Breach, obligation or claim
which is not within Seller&#146;s Knowledge on the Closing Date, and shall
not expire for any such Breach, obligation or claim which is within
Seller&#146;s Knowledge on the Closing Date; and
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(iv)&nbsp;there shall be no expiration hereunder of any obligation of
Seller to pay or discharge any Retained Obligations or for any
Proceedings, Actions, Orders or Losses relating to the Retained
Obligations, other than Retained Obligations concerning remediation
of soil and/or groundwater, which shall expire as provided in
Sections&nbsp;11.3(a)(iii) and 11.3(b).
</FONT>
<P align="center"><FONT size="2">40
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The right to indemnification under Article&nbsp;10 for Breach of any
representation, warranty or covenant shall continue to survive for any and
all Losses about which an Indemnitor receives notice during the applicable
survival period for that respective representation, warranty or covenant
but not for Losses about which an Indemnitor receives notice after the
expiration of such applicable survival period. Seller&#146;s obligation under
Section&nbsp;10.5 to indemnify&#146; Buyer or perform corrective action for a Seller
EHS Liability listed on Schedule&nbsp;3.7, or about which Seller receives
notice within five <I>(5) </I>years from the Closing Date, shall survive until
such corrective action and/or remediation is completed or the claim is
conclusively resolved, as provided in Section&nbsp;10.5.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE XII &#151; TERMINATION.</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1
<B>Termination.</B> The Agreement may be terminated as follows:
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At any time prior to the Termination Date:
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(i)&nbsp;by the mutual written consent of Seller and Buyer or if the
Additional Purchase Agreement is terminated pursuant to its
provisions;
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(ii)&nbsp;by either Seller or Buyer if any court or Governmental Body
of competent jurisdiction shall have issued an Order or taken
any other action, permanently restraining, enjoining, or
otherwise prohibiting the transactions contemplated hereby,
provided that no termination shall be permitted under this
Section&nbsp;12.1(a)(ii) unless the Party seeking such termination
shall have used its commercially reasonable efforts to oppose
such issuance or action;
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(iii)&nbsp;by Seller, upon prior notice, to the extent provided in
Sections&nbsp;2.5 and 5.22 or if the conditions set forth in Articles
VI and VIII have not been satisfied, other than through the
failure of Seller to comply with its obligations hereunder; or
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(iv)&nbsp;by Buyer, upon prior notice, to the extent provided in
Sections <I>2.5, </I>2.7, 5.22 and 8.3 or if the conditions set forth
in Articles VII and VIII have not been satisfied, other than
through the failure of Buyer to comply with its obligations
hereunder.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At any time on or after the Termination Date:
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(i)&nbsp;by the mutual written consent of Seller and Buyer or if the
Additional Purchase Agreement is terminated pursuant to its
provisions;
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(ii)&nbsp;by either Seller or Buyer if any court or Governmental Body
of competent jurisdiction shall have issued an Order or taken
any other action, permanently restraining, enjoining, or
otherwise prohibiting the transactions contemplated hereby,
provided that no termination shall be permitted under this
Section&nbsp;12.1(a(ii) unless the Party seeking such termination
shall have used its commercially reasonable efforts to oppose
such issuance or action;
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(iii)&nbsp;by Seller, upon prior notice, to the extent provided in
Sections&nbsp;2.5 and 5.22 or if the conditions set forth in Articles
VI and VIII have not been satisfied, other than through the
failure of Seller to comply with its obligations hereunder; or
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(iv)&nbsp;by Buyer, upon prior notice, to the extent provided in
Sections&nbsp;2.5, 2.7, 5.22 and 8.3 or if the conditions set forth
in Articles VII and VIII have not been satisfied, other than
through the failure of Buyer to comply with its obligations
hereunder.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2
<B>Effect of Termination.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event this Agreement is terminated pursuant to Section
12.1, all further obligations of the Parties hereunder shall terminate;
provided however, that no such termination of the Agreement shall act to
terminate or otherwise impair the obligations set forth in this Section
12.2 and in Section&nbsp;5.13.
</FONT>
<P align="center"><FONT size="2">41
</FONT>
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<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If Seller elects to terminate the Agreement:
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(i)&nbsp;pursuant to Section&nbsp;12.1, other than as a result of the condition
specified in Section&nbsp;6.1, Seller shall immediately return the Deposit
to Buyer with neither Party having any further liability or
obligation to the other Party; or
</FONT>
<P align="left" style="margin-left:16%; margin-right:0%"><FONT size="2">(ii)&nbsp;pursuant to Section&nbsp;12.1 as a result of the condition specified
in Section&nbsp;6.1, the Deposit shall be retained by Seller as liquidated
damages and not as a penalty, in lieu of all other damages, whether
compensatory, incidental, special, or consequential, with neither
Party having any further liability or obligation to the other Party.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If Buyer elects to terminate the Agreement pursuant to Sections&nbsp;12.1,
Seller shall immediately return the Deposit to Buyer, with neither Party having
any further liability or obligation to the other Party.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE XIII &#151; GUARANTEE</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1
<B>Seller Parent Guarantee.</B> Seller shall cause Seller&#146;s Guarantor to
unconditionally guarantee the full and timely payment and performance by Seller
of its obligations under the Agreement in accordance with the Seller Parent
Guarantee.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2
<B>Buyer Partner Guarantee.</B> Buyer shall cause Buyer&#146;s Guarantor to
unconditionally guarantee the full and timely payment and performance by Buyer
of its obligations under the Agreement in accordance with the Buyer Partner
Guarantee.
</FONT>
<P align="center"><FONT size="2"><B>ARTICLE XIV &#151; TAXES AND PREPAID RENTS/DEPOSITS.</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1
<B>General Tax Obligations.</B> Except as provided in this Article&nbsp;XIV,
Buyer shall be liable for and pay all Taxes, utility charges or apportionments
which arise as a result of this Agreement or the consummation of the
transactions contemplated hereby or as a result of any purchase, sale, rental,
lease, storage, use, consumption or operation of the Acquired Assets by Buyer.
Buyer shall pay motor vehicle transfer taxes with respect to the Vehicles.
Seller agrees to cooperate with and assist Buyer in claiming any applicable
occasional sale or sales tax exemption; provided that Seller shall not incur
any unreimbursed third-party costs, expenses, fees or liabilities as a result
of or in any way relating to, the provision of such assistance; provided,
however, that if any audit determines that any occasional sale or sales tax is
due, the Buyer and Seller shall split such taxes equally, and further provided,
that Seller shall not be required to participate in any such audit.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2
<B>Proration.</B> General and special real estate and other ad valorem taxes
and assessments and other state or local taxes, fees, charges and assessments
in respect of the Real Property (Including any such amounts owed under the
Leases) or personal property, if applicable, on the basis of the fiscal year in
which the Closing occurs shall be prorated between Buyer and Seller as of 12:01
a.m., Central Time, on the Closing Date. If the Closing Date shall occur before
the tax rate or assessment is fixed for such fiscal year, the apportionment of
such taxes and payments at the Closing shall be based upon the most recently
ascertainable tax bills; provided, that Buyer and Seller shall recalculate and
re-prorate said taxes and payments and make the necessary cash adjustments
promptly upon the issuance, and on the basis, of the actual tax bills received
for the fiscal year in which the Closing occurs and the amount of any payments
in lieu of tax made with respect to any such fiscal year.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3
<B>Operating Taxes.</B> Except as specifically provided in this Article&nbsp;14,
Seller shall be solely responsible for all Taxes incurred in connection with
the Acquired Assets or the Business prior to Closing, and Buyer shall be solely
responsible for all Taxes incurred in connection with the Acquired Assets or
Business after Closing.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4
<B>Prepaid Rents/Deposits.</B> From the date hereof, until the date that is
ninety (90)&nbsp;days after the Closing Date, Buyer shall use its commercially
reasonable efforts to replace all of Seller&#146;s security, utility and other
similar deposits, prepaid rent and prepaid expenses related to the Acquired
</FONT>
<P align="center"><FONT size="2">42
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left"><FONT size="2">Assets (collectively, &#147;Seller&#146;s Prepaid Expenses&#148;) with Buyer&#146;s deposits or
prepayments and shall cause Seller to be released from, or shall indemnity
Seller for, all liability under such Seller&#146;s Prepaid Expenses for events which
occur after the Closing Date. No later than 90&nbsp;days after the Closing Date,
Buyer shall reimburse Seller for Seller&#146;s Prepaid Expenses as of the Closing
Date. To the extent that Buyer can assume certain of Seller&#146;s Prepaid Expenses,
Buyer and Seller shall cause such Seller&#146;s Prepaid Expenses to be assumed by
Buyer and Buyer shall reimburse Seller for the Seller&#146;s Prepaid Expenses that
were assumed by Buyer. With respect to any prepaid rents on any Real Property
or personal property, shall be prorated between Buyer and Seller as
of 12:01&nbsp;a.m., Central Time on the Closing Date.
</FONT>

<P align="center"><FONT size="2"><B>SECTION 15 &#151; MISCELLANEOUS.</B>
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1
<b>Expenses.</b>&nbsp;Except as otherwise provided in Section&nbsp;15.12 and in
Article&nbsp;10 hereof, the Parties shall pay their respective expenses (Including
the fees, disbursements, and expenses of their respective attorneys and
accountants) in connection with the negotiation and preparation of the
Agreement and the consummation of the transactions contemplated hereby.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2
<b>Notices.</b>&nbsp;Any notice or other communication required or which may be
given hereunder shall be in writing and shall be deemed to have been duly given
on the date delivered if delivered personally or sent by facsimile to the
persons identified below, one business day following deposit with a reputable
overnight courier, or three business days after deposit in the U.S. mail if
mailed by certified or registered mail, return receipt requested, addressed as
follows:
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top" colspan="3"><FONT size="2">If to Seller, to:</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Tesoro Marine Services, L.L.C.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
300 Concord Plaza Drive,</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
San Antonio, Texas 78216-6999</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Attn:  General Counsel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Telecopy:  (210)&nbsp;283-2400</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top" colspan="3"><FONT size="2">with a copy to:</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Fulbright &#038; Jaworski L.L.P.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
1301 McKinney, Suite&nbsp;5100</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Houston, Texas 77010</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Attn:  Michael W. Conlon, Esq.</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Telecopy:  (713)&nbsp;651-5246</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top" colspan="3"><FONT size="2">If to Buyer, to:</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Martin Midstream Partners L.P.,</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
c/o:  Martin Midstream GP LLC, Its General Partner</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
4200 Stone Road</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Kilgore, Texas 75662</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Attn:  Ruben S. Martin</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Telecopy: (903)&nbsp;983-6262</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top" colspan="3"><FONT size="2">with a copy to:</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Baker Botts L.L.P.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
2001 Ross Avenue, Suite&nbsp;700</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Dallas, Texas 75201</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Attn:  Neel Lemon, Esq.</FONT></TD>
</TR>

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    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Telecopy: (214)&nbsp;661-4954</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">43
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left"><FONT size="2">Any Party may change its address to which notices or other
communications are to be sent by giving written notice of any such
change in the manner provided herein for giving notice.
</FONT>

<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3
<B>Modification or Waiver.</B>&nbsp;The Agreement may be amended, modified,
or superseded at any time by a written instrument executed by Seller and
Buyer, and any of the terms, covenants, representations, warranties, or
conditions hereof may be waived by written instrument executed by the
Party intended to be benefited thereby. No waiver of any nature, in any
one or more instances, shall be deemed to be or construed as a further
or continued waiver of any condition or any breach of any other term,
representation, or warranty in the Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4
<B>Binding Effect and Assignment.</B>&nbsp;This Agreement shall be binding
upon and inure to the benefit of the Parties hereto and their respective
successors and assigns; provided, however, that prior to the Closing
Date, no assignment of any rights provided for herein may be made by
any Party without the written consent of the other Party, which consent
shall not be unreasonably withheld, except that Buyer shall have the
free right to assign to any Affiliate of Buyer.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.5
<B>Governing Law.</B>&nbsp;The making, performance, interpretation, and
construction of this Agreement shall be determined and governed
exclusively by and in accordance with the laws of the State of Texas,
exclusive of any conflict of law rules which may refer to the laws of
another jurisdiction.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.6
<B>Section&nbsp;Headings.</B>&nbsp;The Section headings contained in this
Agreement are inserted for convenience of reference only and shall not
affect the meaning or interpretation of this Agreement.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.7
<B>Further Assurances.</B>&nbsp;Subject to the terms and conditions herein
provided, each of the Parties agrees to use all reasonable efforts to
take, or cause to be taken, all action and to do, or cause to be done,
all things necessary, proper, or advisable under applicable laws and
regulations to consummate the purchase and sale of the Acquired Assets
in accordance with the terms of this Agreement. In case at any time any
further action is necessary or desirable to carry out the purposes of
this Agreement, the appropriate officers of each Party to the Agreement
are hereby directed and authorized to use their good faith efforts to
effectuate all such action.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.8
<B>Entire Agreement.</B>&nbsp;This Agreement, together with any additional
side letter or amendment to this Agreement entered into by the Parties,
embodies the entire agreement and understanding between the Parties
hereto relating to the subject matter hereof and supersedes any prior
letters of intent, agreements, and understandings relating to the
subject matter hereof. The disclosures in the Disclosure Schedules, and
those in any Supplement thereto, relate only to the representations and
warranties in the Sections of the Agreement to which they expressly
relate and not to any other representation or warranty in this
Agreement. In the event of any inconsistency between the statements in
the body of this Agreement, or in any additional side letter or
amendment to this Agreement entered into by the Parties, and those in
the Disclosure Schedules (other than an exception expressly set forth as
such in the Disclosure Schedules with respect to a specifically
identified representation or warranty), the statements in the body of
this Agreement, or in such side letter or amendment, will control.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.9
<B>No Third Party Beneficiaries.</B>&nbsp;Nothing expressed or referred to
in this Agreement is intended or shall be construed to give any Person
other than the Parties to this Agreement or their respective successors
or permitted assigns any legal or equitable right, remedy, or claim
under or in respect of the Agreement or any provision contained herein,
it being the intention of the Parties to the Agreement that the
Agreement shall be for the sole and exclusive benefit of such Parties or
such successors and assigns and not for the benefit of any other person.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.10
<B>Counterparts.</B>&nbsp;Separate copies of this Agreement may be signed
by the Parties hereto, with the same effect as though all of the Parties
had signed one copy of the Agreement.
</FONT>
<P align="center"><FONT size="2">44
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.11 <B>Attorneys&#146; Fees. </B>If legal action is commenced to enforce this
Agreement, the prevailing Party in such action shall be entitled to recover its
costs and reasonable attorneys&#146; fees in addition to any other relief granted.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.12 <B>Severability. </B>If any provision of this Agreement shall be held
invalid under any applicable law, such invalidity shall not affect any other
provision of the Agreement that can be given effect without the invalid
provision and, to this end, the provisions hereof are severable. The covenants
and provisions of this Agreement are separate and independent. With regard to
all dates and time periods set forth or referred to in the Agreement, time is of
the essence.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.13 <B>Interpretation of Agreement. </B>The Parties hereto acknowledge and
agree that this Agreement has been negotiated at arm&#146;s length and between
Parties equally sophisticated and knowledgeable in the matters dealt with in
the Agreement. Accordingly, any rule of law, court decision, or other legal
precedent that would require interpretation of any ambiguities in the Agreement
against the Party that has drafted it is not applicable and is waived. The
Parties hereto also acknowledge and agree that the Agreement pertains to the
purchase and sale of certain defined assets and, notwithstanding anything to
the contrary herein, shall be interpreted as such and not as pertaining to the
purchase and sale of any of the Seller or their businesses as going concerns.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.14 <B>Waiver of Trial By Jury; Jurisdiction. </B>Each Party hereto hereby
irrevocably and unconditionally waives trial by jury in any action pertaining
to any and all disputes under this Agreement. Each Party hereto hereby consents
to jurisdiction of any lawsuit concerning a dispute under this Agreement in the
District Courts of the State of Texas.
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.15 <B>General Disclaimer. </B>Except as set forth in Articles 3 and 4 of this
Agreement, neither Seller, Seller&#146;s Guarantor, nor anyone acting on their
behalf has made any further representation or warranty, either express or
implied, concerning the subject matter of the Agreement and the transactions
contemplated hereby, Including any further representation or warranty
concerning the physical nature or condition of the Terminals, the Vessels or
the Real Property, the existence or nonexistence of Materials of Environmental
Concern in, on, at, or under the Terminals, the Vessels or the Real Property,
or use of the Terminals, the Vessels or the Real Property, and Buyer have not
relied on any such further representation or warranty. This Agreement and the
instruments delivered at Closing pursuant hereto shall not be governed by the
warranties provided by the Uniform Commercial Code as adopted in any
jurisdiction. Except for representations and warranties expressly set forth in
the Agreement, the Schedules hereto, and the documents delivered as the
Closing, no other representations or warranties, either express or implied,
have been made by or on behalf of Seller or Seller&#146;s Guarantor or relied upon
by Buyer. <B>Other than express representations, warranties, covenants and
agreements contained in this Agreement, or in any instrument of conveyance or
other document executed and delivered at Closing pursuant to this Agreement,
Buyer (a)&nbsp;understands and agrees that neither Seller nor anyone acting on its
behalf make any express or implied representations or warranties with respect
to the Business, the Acquired Assets or assumed obligations referred to herein,
the seaworthiness, condition or workmanship of any Acquired Asset, or the
absence of any defects therein, whether latent or patent, or the capacity,
stability, utility, salability, operation, condition, merchantability or
fitness for any purpose or a particular purpose thereof and (b)&nbsp;accepts such
Acquired Assets, Including Vessels, on an &#147;AS IS, WHERE IS, WITH ALL FAULTS&#148;
basis, subject to the express representations and warranties of Seller
continued in this Agreement. Buyer assumes the full risk of future prospects,
continuation of relationships with customers and suppliers, as well as the
business and financial risk,
including the need for substantial working capital, in connection with the
operation of the Business after Closing.</B>
</FONT>
<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.16
<B>Public Announcements. </B>Buyer and Seller agree that, from the date
hereof through and Including the Closing Date, no public release or
announcement concerning the transactions contemplated hereby shall be issued or
made by any Party hereto without the prior consent of the other Party (which
</FONT>
<P align="center"><FONT size="2">45
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left"><FONT size="2">consent shall not be unreasonably withheld), except (a)&nbsp;as such release
or announcement may be required by law or the rules or regulations of any
securities exchange (or in the opinion of counsel such release or
announcement is appropriate or desirable under or in light of such laws
and regulations), in which case the Party making the release or
announcement shall allow the other Party reasonable time to comment on
such release or announcement in advance of such issuance, and (b) that
Seller may make such an announcement to its employees, in which case
Seller shall allow Buyer reasonable time to comment on such release of
announcement in advance of such issuance. Notwithstanding the foregoing,
Buyer and Seller shall cooperate to prepare press releases to be issued
on the Closing Date and at the time of the signing of this Agreement.
Buyer and Seller agree to keep the terms of this Agreement confidential,
except to the extent required by applicable law or for financial
reporting purposes and except that the Parties may disclose such terms to
their respective representatives as necessary in connection with the
ordinary conduct of their respective businesses (so long as such Persons
agree to keep the terms of this Agreement confidential).
</FONT>

<P align="center"><FONT size="2">46
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>IN
WITNESS WHEREOF,</b> the Parties hereto have executed the
Agreement as of the 27th day of October, 2003.
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top" colspan="3"><FONT size="2"><B>SELLER</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

<TD align="center" valign="top" colspan="3"><FONT size="2"><B>TESORO
MARINE SERVICES, L.L.C.</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ WILLIAM T. VAN KLEEF</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Name:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">William T. Van Kleef</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Title:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Executive Vice President</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top" colspan="3"><FONT size="2"><B>BUYER</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

<TD align="center" valign="top" colspan="3"><FONT size="2"><B>MARTIN
OPERATING PARTNERSHIP L.P.</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2">By Martin Operating GP LLC, Its General Partner</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2">By Martin Midstream Partners L.P., Its Sole Member</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2">By Martin Midstream GP LLC, Its General Partner</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ ROBERT D. BONDURANT</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Name:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Robert D. Bondurant</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Title:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Executive Vice President &#038; CFO</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top" colspan="3"><FONT size="2"><B>MMLP</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top" colspan="3"><FONT size="2"><B>MARTIN MIDSTREAM PARTNERS L.P.</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" colspan="3" valign="top"><FONT size="2">By Martin Midstream GP LLC, Its General Partner</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ ROBERT D. BONDURANT</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Name:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Robert D. Bondurant</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Title:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Executive Vice President &#038; CFO</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
</TABLE>
</DIV>



<P align="center"><FONT size="2">47
</FONT>


</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>d12019exv10w2.htm
<DESCRIPTION>EX-10.2 TERMINAL SERVICES AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="right"><FONT size="2"><B>Exhibit&nbsp;10.2</B>
</FONT>

<P align="center"><FONT size="2"><B>TERMINAL SERVICES AGREEMENT</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THIS TERMINAL SERVICES AGREEMENT </B>is made and entered into as of December
23, 2003 (the &#147;Effective Date&#148;), by and between MARTIN OPERATING PARTNERS L.P.,
a Delaware limited partnership (hereinafter referred to as &#147;Operator&#148;), and
MIDSTREAM FUEL SERVICE LLC, an Alabama limited liability company (hereinafter
referred to as &#147;Customer&#148;).
</FONT>
<P align="CENTER"><FONT size="2"><B>WITNESSETH:</B>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Operator operates several marine terminal facilities
(&#147;Terminals&#148;) which are identified in Attachment A; and
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Customer is in the # 2 Diesel Fuel (&#147;Product&#148;) distribution
business; and
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, it is the desire of the Operator and the Customer that the
Customer&#146;s Product be throughput at the Terminals and that the Operator provide
unloading, handling, storage, out-loading and other terminal services with
respect to the Customer&#146;s Product at the Terminals, all on the terms and
conditions hereinafter provided.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein, the Operator and the Customer agree that the Operator shall
provide the hereinafter described terminal services with respect to the
Customer&#146;s Product at the Terminals, on the terms and conditions provided
herein:
</FONT>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">1.
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Term of Agreement</B>. The term of this Agreement shall begin on the
Effective Date and shall end on December&nbsp;31, 2006 and shall continue Month
to Month thereafter, unless terminated by either party with at least sixty
(60)&nbsp;days written notice prior to the end of any term.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">2.</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Operator&#146;s Duties</B>. In consideration of the compensation provided in
Section&nbsp;3 hereof, the Operator shall provide the following services
(&#147;Terminal Services&#146;) to the Customer at the Terminals:
</FONT></TD>
</TR>
</TABLE>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">(a)</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"><B>Unloading. Handling and Storage Services</B>. The Customer shall
deliver Product to these Terminals by marine vessel. The Operator
shall unload the Customer&#146;s Product from such marine vessels in
accordance with prevailing industry standards relating to the
handling of petroleum products. The Operator shall transfer the
Product to, and store the Product in, any or all of the storage
tanks listed in Attachment B (&#147;Storage Tanks&#148;), all of which are
located at the Terminals.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Said Tanks shall be reserved and dedicated at all times for the
exclusive use of Customer.</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">1
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">(b)</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"><B>Out-Loading Services</B>. The Customer&#146;s Product may be removed
from the Terminals by marine vessel. The Operator shall provide all
out-loading services necessary to permit the Customer to transfer
Product from the Storage Tanks to the Customer&#146;s designated marine
vessels for removal from the Terminals.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">(c)</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"><B>Inventory Services</B>. The Operator shall provide to the
Customer daily inventory reports of Customer&#146;s Product, containing
reports as to receipts and withdrawals of Customer Product, and the
balance as of the close of business of the immediately preceding
day.</FONT></TD>
</TR>
</TABLE>
</DIV>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">3.
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Operator&#146;s Compensation</B>. For the Terminal Services performed hereunder,
the Operator shall receive the following compensation from the Customer:
</FONT></TD>
</TR>
</TABLE>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">(a)</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Throughput Fee</B>. The Customer shall compensate the Operator
for the Terminal Services provide hereunder, in the form of a
&#147;Throughput Fee&#148; equal to $____  per gallon for Product out-loaded
out from these Terminals during a calendar month. The Customer
shall have a Minimum Annual Total Throughput (&#147;Minimum&#148;) quantity of
_____ gallons for which they shall pay the Operator this
Throughput Fee. Should Customer not meet or exceed this Minimum
then Customer shall compensate Operator for this shortfall at the
same $____ per gallon rate. The invoicing for the Minimum
shortfall (if required) will occur on the first invoice generated
immediately following each calendar year. Should this Agreement be
terminated prior to the end of any calendar year, then the Minimum
shortfall, if any, shall be determined based on a prorated
allocation of the Minimum. The Throughput Fee shall remain as
stated above until the first anniversary of the Effective Date.
Thereafter, the Throughput Fee shall be adjusted annually (both
upward and downward as hereinafter provided) by a factor equal to
the increase or decrease, as the case may be, in the Consumer Price
Index (as defined below). The adjustment shall be calculated
annually in December of each year, commencing in December, 2004.
The adjustment shall be calculated as follows: the Throughput Fee in
effect shall be multiplied by a factor equal to the amount of the
increase or decrease, as the case may be, in the Consumer Price
Index for the immediately preceding month of November, over the
Consumer Price Index for November of the preceding year. For
purposes hereof, the term &#147;Consumer Price Index&#148; shall mean the
&#147;Consumer Price Index for Urban Wage Earners and Clerical Workers
(1967=100)&#148; specified for &#147;All Items. United States&#148; compiled by
the Bureau of Labor Statistics of the United States Department of
Labor (the &#147;Index&#148;). In event the Index shall be converted to a
different standard reference base or otherwise revised, the
determination of the percentage change shall be made with the use of
such conversion factor, formula or table for converting the Index as
may be published by the Bureau of Labor Statistics or, if said
Bureau shall not publish the same, then as shall be reasonably
determined by the parties.</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">2
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">(b)</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"><B>Miscellaneous Fees</B>. The Customer shall reimburse the
Operator for any and all taxes, dockage or wharfage fees, product
testing charges, barge or tug charges, or any other charges which
may be levied against Operator having to do with handling and or
custody of Customer&#146;s Product.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">(c)</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"><B>Fourchon Terminal Commission Fee Reimbursement Fee</B>. The
Customer shall reimburse the Operator for the Commission Fees owed
by the Operator as a result of the handling of Product and water at
the terminal located at Port Fourchon, Louisiana for the Customer&#146;s
account. This reimbursement will be a direct reimbursement of
actual fees owed by the Operator as a result of the Fuel Terminal
Services Agreement dated March&nbsp;19, 1997, a copy of which is included
as Attachment C. There will be no additional handling fees or other
charges associated with the reimbursement of this fee.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">(d)</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"><B>Payment Terms</B>. Payment of these Fees from the Customer to
the Operator shall be net 30&nbsp;days from the date of the invoice.</FONT></TD>
</TR>
</TABLE>
</DIV>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2"><B>4.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Title to Product</B>. Title to all of the Customer&#146;s Product received,
stored and handled by the Operator at these Terminals shall remain at all
times in the name of the Customer. The Customer agrees not to deliver for
storage at these Terminals any Product which may not be lawfully stored on
the premises of these Terminals or any Product injurious to the premises
or facilities, or which would render the facilities unfit, after cleaning,
for the proper storage of similar product, or Products.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2"><B>5.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Assignment</B>. Neither party shall assign this Agreement without the
express written consent of the other party.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2"><B>6.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Facility, Tank and Equipment Condition</B>. The Operator shall, at its sole
cost and expense, provide and maintain all handling and storage equipment
and facilities necessary to the performance of its services expressed
hereunder, including without limitation the storage tanks, in compliance
with prevailing industry standards and all applicable Laws (as defined
below) as they may exist from time to time.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2"><B>7.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Customers Compliance with Laws</B>. In the conduct of its business in the
premises of these Terminals, the Customer shall comply in all material
respects with all federal, state and local laws, ordinances, decrees,
orders, regulations, permits or other requirements having the force of law
(hereinafter, the &#147;Laws&#148;).
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2"><B>8.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Entire Agreement</B>. This Terminal Services Agreement shall constitute the
entire agreement concerning the subject hereof between the parties
superseding all previous agreements, negotiations and representations made
prior or contemporaneous to the date hereof. This Agreement shall be
modified or amended only by written agreement executed by both parties
hereto.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2"><B>9.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Controlling Law</B>. This Agreement shall be governed by and construed in
accordance with the laws of the State of Texas.
</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">3
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>EXECUTED </B>as of the date first set forth above.
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="43%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2">MIDSTREAM FUEL SERVICE LLC</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Martin Resource Management</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Corporation, Its Sole Member</FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">By:</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">/s/ Ruben S. Martin</FONT></TD></TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Name:</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Ruben S. Martin</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Title:</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Chief Executive
Officer and President</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="43%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="7"><FONT size="2">MARTIN OPERATING PARTNERS, LP</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="5"><FONT size="2">Martin Operating GP LLC,</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="5"><FONT size="2">its General Partner</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2">Martin Midstream Partners L.P.,</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><FONT size="2">its Sole Member</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">By:</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Martin Midstream GP LLC,</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">its General Partner</FONT></TD>
</TR>
</TABLE>
</DIV>


<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">By:</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">/s/ Ruben S. Martin</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Name:</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">Ruben S. Martin</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Title:</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">Chief Executive Officer and President</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">4
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="right"><FONT size="2"><B>Attachment A</B>
</FONT>

<P align="center"><FONT size="2"><B>Terminal Services Agreement<BR>
Marine Terminal Facilities (Terminals)</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">1.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Venice, LA</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">2.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Amelia, LA</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">3.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Berwick, LA</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">4.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Intracoastal City, LA</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">5.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Cameron (East), LA</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">6.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Cameron (West), LA</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">7.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Sabine Pass, TX</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">8.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Galveston, TX</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">9.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Freeport, TX (OOS)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Freeport, TX (Tesoro)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">11.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Port O&#146;Conner, TX</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">12.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Aransas Pass, TX (Harbor Island)</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">&nbsp;
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="right"><FONT size="2"><B>Attachment B</B>
</FONT>

<P align="center"><FONT size="2"><B>Terminal Services Agreement<BR>
Storage Tank List</B>
</FONT>

<P align="center"><FONT size="2"><B>LOUISIANA FACILITIES</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Tank</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Height</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Diameter</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Calculated</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Nominal</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Construction</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>No.</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Tank Age</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>(feet)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>(feet)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Vol. (gal)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Vol. (gal)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Stored Product</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Materials</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="29" align="center"><FONT size="2"><B>VENICE</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">30</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">35</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">215,789</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">215,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">25</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">84,077</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">85,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="29" align="center"><FONT size="2"><B>AMELIA</B></FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1979</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">33</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">52</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">507,834</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">510,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1982</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">13</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,888</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="29" align="center"><FONT size="2"><B>BERWICK</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1998</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">29</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">55</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">515,104</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">515,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1998</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">29</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">55</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">515,104</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">515,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="29" align="center"><FONT size="2"><B>INTRACOASTAL CITY</B></FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1981</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">32</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">60</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">676,431</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">600,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1981</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">32</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">60</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">676,431</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">600,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1981</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">32</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">60</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">676,431</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">600,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1978</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,013</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Road Use Diesel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="29" align="center"><FONT size="2"><B>CAMERON (East)</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1971</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">33</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">67</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">685,430</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">685,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1971</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">25</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">38</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">205,682</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">205,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1986</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">29</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">50</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">440,022</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">441,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="29" align="center"><FONT size="2"><B>CAMERON (West)</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1979</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">87</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">40</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">630,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">630,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
    <TD colspan="29" align="center"><FONT size="2"><B>TEXAS FACILITIES</B></FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="29" align="center"><FONT size="2"><B>SABINE PASS</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1978</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">32</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">60</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">674,384</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">675,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="29" align="center"><FONT size="2"><B>GALVESTON</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1976</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">40</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">30</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">211,385</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">210,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1982</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">48.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">86</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,103,784</FONT></TD>
    <TD nowrap align="left"><FONT size="2"></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,090,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="29" align="center"><FONT size="2"><B>FREEPORT (OOS)</B></FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1994</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">38</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">40</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">345,127</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">350,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="29" align="center"><FONT size="2"><B>FREEPORT (Tesoro)</B></FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1984</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">30</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">126,831</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">125,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Bolted Galv. Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1984</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">21</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">62,147</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">60,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Bolted Galv. Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="29" align="center"><FONT size="2"><B>PORT O'CONNOR</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">32</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">35</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">230,175</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">230,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="29" align="center"><FONT size="2"><B>ARANSAS PASS (Harbor Island)</B></FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1986</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">32</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">33.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">210,868</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">210,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center"><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1989</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">30</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">126,831</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">126,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1992</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9,329</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Diesel Fuel</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">&nbsp;
</FONT>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>d12019exv10w3.htm
<DESCRIPTION>EX-10.3 TRANSPORTATION SERVICES AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="right"><FONT size="2"><b>EXHIBIT 10.3</b>
</FONT>

<P align="center"><FONT size="2"><B>TRANSPORTATION SERVICES AGREEMENT</B>
</FONT>

<P align="left"><FONT size="2">THIS MARINE TRANSPORTATION AGREEMENT (this &#147;Agreement&#148;) is executed this 23rd
day of December, 2003, by and between Martin Operating Partnership L.P., a
Delaware limited partnership (&#147;Owner&#148;), and Midstream Fuel Service LLC, an
Alabama limited liability company (&#147;Charterer&#148;), in order to evidence the
agreement of such parties with respect to Owner&#146;s provision of marine
transportation services with respect to #2 fuel oil and high sulfur diesel on
board its marine vessels under the following terms and conditions.
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="67%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>1. TERM; TERMINATION</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
The initial term of this Agreement shall be for 3
years (the &#147;Initial Term&#148;) commencing on the date
first set forth above (the &#147;Commencement Date&#148;) and
ending on the 3rd anniversary of the Commencement
Date. This Agreement will automatically renew for
successive one year terms (each a &#147;Renewal Term&#148;, and
together with the Initial Term, the &#147;Term&#148;), unless
either Charterer or Owner elects not to renew this
Agreement by providing the other party with written
notice of such election 30&nbsp;days prior to the
expiration of the Initial Term or Renewal Term, as
applicable, at which point this Agreement will
automatically terminate.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Within 30&nbsp;days of the end of the Initial Term, and
within 30&nbsp;days of the end of each Renewal Term, both
parties hereto shall have the right renegotiate the
fee specified below for the use of the vessels. If
no such agreement on such fee is reached by such
parties by the commencement of a Renewal Term, this
Agreement shall automatically terminate.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Either party hereto shall have the right to terminate
this Agreement in the event of a breach by the other
party of its obligations hereunder, subject to 10
days prior written notice of such breach given by the
non-breaching party to the breaching party and the
opportunity for such breaching party to cure such
breach during such 10&nbsp;day period.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Upon any such termination, this Agreement shall
thereafter have no further force or effect except as
to already accrued rights and obligations, which
shall continue until satisfied.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>2. GENERAL TERMS</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
During the Term, Charterer agrees that Owner will be
the sole and exclusive provider of marine
transportation services for #2 fuel oil and high
sulfur diesel owned by Charterer or owned by others
and in transit for sale to Charterer so long as Owner
has the required equipment available. Owner shall at
all times provide sufficient and proper equipment for
Charterer&#146;s performance of such transportation. Said
equipment shall be manned, equipped, supplied and
operated by Owner. The master and crew of said
vessels shall be fully qualified, experience and,
where necessary, certified and licensed. Owner
agrees that said equipment shall be maintained in a
seaworthy, staunch, tight and suitable condition and,
to the best of Owner&#146;s knowledge, in compliance with
all applicable laws and regulations.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
In connection with its use of any vessel, Charterer
will follow Owner&#146;s normal scheduling, loading and
offloading protocols established from time to time,
subject to Owner&#146;s obligations set forth in this
Agreement.</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">1
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="27%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="68%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>3. RATE</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Charterer agrees to pay to Owner a fee of $______ per
gallon of product transported. Owner will invoice
such fees to Charterer on a monthly basis and
Charterer will pay such invoiced amounts within 30
days of invoice date.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
The fee stated above, unless otherwise adjusted by
the parties pursuant to Section&nbsp;1 above, shall be
adjusted annually (both upward and downward), by a
factor equal to the amount of increase or decrease,
as the case may be, in the Consumer Price Index for
the immediately proceeding month of November, over
the Consumer Price Index for November of the
preceding year. For purposes hereof, the term
&#147;Consumer Price Index&#148; shall mean the &#147;Consumer Price
Index for Urban Wage Earners and Clerical Workers
(1967=100)&#148; specified for &#147;All Items. United States&#148;
compiled by the Bureau of Labor Statistics of the
United States Department of Labor (the &#147;Index&#148;). In
the event the Consumer Price Index shall be converted
to a different standard reference base or otherwise
revised, the determination of the percentage change
shall be made with the use of such conversion factor,
formula or table for converting the Consumer Price
Index as may be published by the Bureau of Labor
Statistics or, if said Bureau shall not publish the
same, then as shall be reasonably determined by the
parties.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>4. LOAD AND DISCHARGE</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
The Load Port shall be FOB Refinery Offtake in the
U.S. Gulf of Mexico. The Discharge Port shall be at
the Owner&#146;s terminals located at Venice, LA; Port
Forrochon, LA; Berwick, LA; Intracoastal City, LA;
Cameron, LA; Sabine Pass, TX; Beaumont, TX;
Galveston, TX; Houston, TX; Freeport, TX; Port
O&#146;Connor, TX; and Harbor Island, TX.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>5. TITLE TO PRODUCT</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Title to all product handled shall remain at all
times in the name of the Charterer. The Charterer
agrees not to tender for load any product injurious
to the vessels or which product would render the
vessels unfit, after cleaning, for the proper storage
of similar product.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>6. ASSIGNMENT</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Neither party shall assign this Agreement without the
express written consent of the other party.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>7. ENTIRE AGREEMENT</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
This Agreement shall constitute the entire agreement
concerning the subject hereof between the parties
superseding all previous agreements, negotiations and
representations made prior or contemporaneous to the
date hereof. This Agreement shall be modified or
amended only by written agreement executed by both
parties hereto.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>8. GOVERNING LAW</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
This Agreement shall be governed by and construed in
accordance with the laws of the State of Texas.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>9. ADDITIONAL TERMS</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
The &#147;Additional Terms&#148; attached hereto as Exhibit&nbsp;A
shall be deemed to be incorporated into this
Agreement by this reference.</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">2
</FONT>
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
MARTIN OPERATING PARTNERSHIP L.P.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By: &nbsp;Martin Operating GP LLC, Its General Partner</FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="53%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">By:</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Martin Midstream Partners L.P., Its Sole Member</FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="57%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="39%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">By:</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Martin Midstream GP LLC, Its General Partner</FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:&nbsp;/s/ RUBEN S. MARTIN</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Ruben S. Martin</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Chief Executive Officer and President</FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="58%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" valign="top" align="left"><FONT size="2">MIDSTREAM FUEL SERVICE LLC</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Martin Resource Management Corporation,<BR>
its Sole Member</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="58%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" valign="top" align="left"><FONT size="2">By:&nbsp;/s/ RUBEN S. MARTIN
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Name:&nbsp;Ruben S. Martin</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Title:&nbsp;Chief Executive Officer and President</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">3
</FONT>
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<P align="right"><FONT size="2"><B>EXHIBIT A</B>
</FONT>

<P align="center"><FONT size="2"><B>ADDITIONAL TERMS</B>
</FONT>

<P align="left"><FONT size="2">These additional terms are deemed to be incorporated by reference into this
Agreement.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.&nbsp;INVOICING &#038; PAYMENT. </B>All monthly Owner invoices to Charterer for rates
and cost items will be paid by Charterer within 30&nbsp;days of invoice date in
accordance with Owner&#146;s normal payment protocols, which will be specified in
the applicable invoice. Each monthly invoice shall be itemized to include
charges by applicable vessel by day.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.&nbsp;DEMISE OF CHARTER. </B>The Master of an applicable vessel, although
appointed by and in the employ of Owner and subject to Owner&#146;s direction and
control, shall observe the reasonable instructions of Charterer in connection
with Charterer&#146;s transportation needs under this Agreement; PROVIDED, HOWEVER,
THAT NOTHING IN THIS CLAUSE OR ELSEWHERE IN THIS AGREEMENT SHALL BE CONSTRUED
AS CREATING A DEMISE OF THE APPLICABLE VESSEL TO CHARTERER OR AS VESTING
CHARTERER WITH ANY CONTROL OVER THE PHYSICAL OPERATION OR NAVIGATION OF THE
APPLICABLE VESSEL.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.&nbsp;POLLUTION PREVENTION. </B>Owner will, in the case of an escape or
discharge of products or threat of escape or discharge of same from the
applicable vessel into the navigable waters of the United States, promptly
undertake such measures as are reasonably necessary or which may be required by
applicable laws, rules and regulations to mitigate the resultant pollution
damage; provided, however, that Charterer may at its option, and upon notice to
Owner and on the conditions hereinafter set forth, undertake such measures.
Charterer shall keep Owner advised of any such measures to be undertaken by it
under such circumstances. Any of such measures actually undertaken by
Charterer shall be at Owner&#146;s expense (except to the extent that such escape or
discharge was caused or contributed to by Charterer). If Owner believes that
any such measures undertaken by Charterer should not be undertaken or should be
discontinued, Owner may so notify Charterer and thereafter Charterer, if it
elects to continue such measures, shall do so at its own risk and expense.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.&nbsp;INDEMNITY. </B>Owner covenants and agrees to fully defend, protect,
indemnify and hold harmless Charterer and its affiliates from and against each
and every claim, demand, cause of action, liability, damage, cost or expense
(including, but not limited to, reasonable attorney&#146;s fees and expenses
incurred in the defense of Charterer), resulting from any damage to property or
injury or death to persons caused, directly or indirectly, by Owner&#146;s acts or
omissions in connection with Owner&#146;s provision of marine transportation
services hereunder, except to the extent caused, directly or indirectly, by the
acts or omissions of Charterer.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charterer covenants and agrees to fully defend, protect, indemnify and
hold harmless Owner and its affiliates from and against each and every claim,
demand, cause of action, liability, damage, cost or expense (including, but not
limited to, reasonable attorney&#146;s fees and expenses incurred in the defense of
Owner), resulting from any damage to property or injury or death to persons
caused, directly or indirectly, by Charterer&#146;s acts or omissions in connection
with Charterer&#146;s use of marine transportation services hereunder, except to the
extent caused, directly or indirectly, by the acts or omissions of Owner.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing indemnities shall expressly exclude any liability for
consequential, punitive, special or similar damages, including, without
limitation, lost profits.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.&nbsp;COMPLIANCE WITH LAW; INSURANCE: </B>During the Term of this Agreement,
Owner shall comply in all material respects with applicable laws, including,
without limitation applicable environmental, health, safety and financial
responsibility laws, rules and regulations, applicable to the use of the Vessel
for bulk crude oil or finished lubricating products transportation. Owner
covenants that it will maintain at all times during the Term of this Agreement
insurance coverage for sudden and accidental pollution of $500,000,000.
</FONT>
<P align="center"><FONT size="2">4
</FONT>
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.&nbsp;CHARTERER&#146;S REPRESENTATIVES: </B>Charterer&#146;s representatives may board any
vessel used under this Agreement at any convenient place to observe
cargo-handling operations, to inspect logs and certificates, and to confirm
that Owner is fulfilling its obligations under this Agreement.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.&nbsp;DRUG &#038; ALCOHOL ABUSE POLICY: </B>Owner warrants that it will maintain and
enforce at all times during the Term of this Agreement a drug and alcohol abuse
policy applicable to the vessels which complies in all material respects with
the minimum standards promulgated by the U.S. Coast Guard.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.&nbsp;CONDITION OF EQUIPMENT: </B>Owner shall, before and at commencement of
each voyage by any vessel under this Agreement, exercise commercially
reasonable efforts to ensure that such vessel is seaworthy and in good
operating condition, properly manned, equipped and supplied for the voyage, to
ensure that the pipes, pumps and coils tight, staunch, are in good operating
condition and fit for the voyage, and to ensure that the tanks and other spaces
in which product is to be carried are in good operating condition and fit for
the carriage and preservation of the same. To the extent required by
applicable law, Owner will maintain at all times during the Term of this
Agreement a valid and subsisting certificate or other permit issued by the U.S.
Coast Guard (or other governmental bureau or department having jurisdiction)
approving the applicable vessel for the transportation and carriage of
inflammable liquids.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.&nbsp;SUBLET: </B>Charterer shall not be permitted to sublet the use of any
vessels to any third party.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.&nbsp;FORCE MAJEURE: </B>The vessels, their captains and Owner shall not,
unless otherwise in this Agreement expressly provided, be responsible for any
loss or damage arising or resulting from: any act, default or barratry of the
captain, pilots, mariners, or other servants of Owner in the navigation or
management of such vessel; fire, unless caused by the personal design or
neglect of Owner; collision, stranding or peril, danger or accident of
navigable waters; saving or attempting to save life or property; wastage in
weight or bulk, or any other loss or damage arising from inherent defect,
quality or vice of the cargo; any act or omission of Charterer, Owner, any
other shipper or any consignee of the cargo, their agents or representatives;
insufficiency or inadequacy of marks; explosion, bursting of boilers, breakage
of shafts, or any latent defect in hull, equipment or machinery;
unseaworthiness of any vessel unless caused by want or due diligence on the
part of Owner to make such vessel seaworthy or to have it properly manned,
equipped and supplied; or from any other cause of whatsoever kind arising
without the actual fault of Owner. And neither the vessels, their captains or
Owner, nor the Charterer, shall, unless otherwise in this Agreement expressly
provided, be responsible for any loss or damage or delay or failure in
performing hereunder arising or resulting from; act of God, act of war; act of
public enemies, pirates or assailing thieves; acts of terrorism; arrest or
restraint of princes, rulers of people, or seizure under legal process provided
bond is promptly furnished to release such vessel or cargo; strike or lockout
or stoppage or restraint of labor from whatever cause, either partial or
general, or riot or civil commotion.
</FONT>


<P align="center"><FONT size="2">5
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>d12019exv10w4.htm
<DESCRIPTION>EX-10.4 LUBRICANTS & DRILLING FLUIDS AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<P align="right"><FONT size="2"><B>EXHIBIT 10.4</B>
</FONT>

<P align="center"><FONT size="2"><B>LUBRICANTS &#038; DRILLING FLUIDS<BR>
TERMINAL SERVICES AGREEMENT</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THIS LUBRICANTS &#038; DRILLING FLUIDS TERMINAL SERVICES AGREEMENT </B>(hereinafter
referred to as &#147;Agreement&#148;) is effective as of December&nbsp;23, 2003 (the
&#147;Effective Date&#148;), by and between <B>MIDSTREAM FUEL SERVICE LLC</B>, a Delaware
Limited Liability Corporation (hereinafter referred to as &#147;Operator&#148;), and
<B>MARTIN OPERATING PARTNERS L.P.</B>, an Alabama Limited Liability Company
(hereinafter referred to as &#147;Customer&#148;).
</FONT>
<P align="left"><FONT size="2"><B>WITNESSETH:</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Operator operates several marine terminal facilities
(&#147;Terminals&#148;) which are identified in Attachment A; and
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Customer is in the lube oil, grease and other products
(&#147;Product&#148;) distribution &#038; third party owned drilling fluids handling
(&#147;Drilling Fluids&#148;) business; and
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS, </B>it is the desire of the Operator and the Customer that the
Operator provide unloading, handling, storage, out-loading and other terminal
services with respect to the Customer&#146;s Product and Drilling Fluids at the
Terminals, all on the terms and conditions hereinafter provided.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW, THEREFORE, </B>in consideration of the mutual covenants and agreements
contained herein, the Operator and the Customer agree that the Operator shall
provide the hereinafter described terminal services with respect to the
Customer&#146;s Product and Drilling Fluids at the Terminals, on the terms and
conditions provided herein:
</FONT>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>1.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Term of Agreement. </B>The term of this Agreement shall begin on the
Effective Date and shall end on December&nbsp;31, 2004 and shall continue Year
to Year thereafter, unless terminated by either party with at least sixty
(60)&nbsp;days written notice prior to the end of any term.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>2</B>.
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"> <B>Operator&#146;s Duties. </B>In consideration of the compensation provided in
Section&nbsp;3 hereof, the Operator shall provide the following services
(&#147;Terminal Services&#146;) to the Customer at the Terminals:
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2"><B>(a)</B>
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><B>Unloading, Handling and Storage Services. </B>The Customer shall
deliver Product to the Terminals either by marine vessel or by
truck. The Operator shall unload the Customer&#146;s Product and
Drilling Fluids from such marine vessels or trucks in accordance
with prevailing industry standards relating to the handling of lube
oils, greases and other products
</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">&nbsp;
</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left" style="margin-left:7%; margin-right:0%"><FONT size="2">and drilling fluids. As required, the Operator shall transfer the
Product to, and store the Product in, any or all of the storage
tanks listed in Attachment B (&#147;Storage Tanks&#148;), or in available
Warehouse Space all of which are located at the Terminals.
</FONT>
<P align="left" style="margin-left:7%; margin-right:0%"><FONT size="2">Said Tanks shall be available for the use of Customer.
</FONT>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2"><B>(b)</B>
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><B>Out-Loading Services. </B>The Customer&#146;s Product and
Drilling Fluids may be removed from the Terminals by marine vessel
or by truck. The Operator shall provide all out-loading services
necessary to permit the Customer to transfer Product from the
Storage Tanks or Warehouses to the Customer&#146;s designated marine
vessels or trucks for removal from the Terminals.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2"><B>(c)</B>
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><B>Inventory Services. </B>The Operator shall provide to the Customer
inventory reports of Customer&#146;s Product, containing reports as to
receipts and withdrawals of Customer Product, and the balance on
hand of the Product.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>3</B>.
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"> <B>Operator&#146;s Compensation. </B>For the Terminal Services performed
hereunder, the Operator shall receive the following compensation from the
Customer:
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2"><B>(a)</B>
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><B>Handling Fee. </B>The Customer shall compensate the Operator for
the Terminal Services provided hereunder, in the form of a &#147;Handling
Fee&#148; equal to $____ per gallon for Product out-loaded from the
Terminals and __% of all Drilling Fluids Commission Earned by
Customer during a calendar month. The Customer shall have a Minimum
Annual Total Handling (&#147;Minimum&#148;) quantity of ____ gallons of
Product and $____ of Drilling Fluid commission from all
Terminals combined for which they shall pay the Operator this
Handling Fee. Should Customer not meet or exceed this Minimum then
Customer shall compensate Operator for this shortfall at the same
$___ per gallon rate for Product out-loadings and same __% of
Drilling Fluids Commission earned. The invoicing for the Minimum
shortfall (if required) will occur on the first invoice generated
immediately following each calendar year. Should this Agreement be
terminated prior to the end of any calendar year, the Minimum
shortfall, if any, shall be determined based on a prorated
allocation of the Minimum. The Handling Fee shall remain as stated
above until the first anniversary of the Effective Date.
Thereafter, the Handling Fee, shall be adjusted annually (both
upward and downward as hereinafter provided) by a factor equal to
the increase or decrease, as the case may be, in the Consumer Price
Index (as defined below). The
</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">2 of 7
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left" style="margin-left:7%; margin-right:0%"><FONT size="2">adjustment shall be calculated as follows: the Handling Fee in
effect shall be multiplied by a factor equal to the amount of the
increase or decrease, as the case may be, in the Consumer Price
Index for the immediately preceding month of November, over the
Consumer Price Index for November of the preceding year. For
purposes hereof, the term &#147;Consumer Price Index&#148; shall mean the
&#147;Consumer Price Index for Urban Wage Earners and Clerical Workers
(1967=100)&#148; specified for &#147;All Items. United States&#148; compiled by
the Bureau of Labor Statistics of the United States Department of
Labor (the &#147;Index&#148;). In event the Index shall be converted to a
different standard reference base or otherwise revised, the
determination of the percentage change shall be made with the use
of such conversion factor, formula or table for converting the
Index as may be published by the Bureau of Labor Statistics or, if
said Bureau shall not publish the same, then as shall be
reasonably determined by the parties.
</FONT>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2"><B>(b)</B>
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><B>Miscellaneous Fees</B>. The Customer shall reimburse the
Operator for any and all taxes, dockage or wharfage fees, product
testing charges, barge or tug charges, or any other charges which
may be levied against Operator having to do with handling and or
custody of Customer&#146;s Product or Drilling Fluids.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2"><B>(c)</B>
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2"><B>Payment Terms</B>. Payment of these Fees from the Customer to
the Operator shall be net 30&nbsp;days from the date of the invoice.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>4.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Title to Product. </B>Title to all of the Customer&#146;s Product received, stored
and handled by the Operator at the Terminals shall remain at all times in
the name of the Customer. The Customer agrees not to deliver for storage
at the Terminals any Product which may not be lawfully stored on the
premises of the Terminals or any Product injurious to the premises or
facilities, or which would render the facilities unfit, after cleaning,
for the proper storage of similar product, or Products.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>5.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Assignment</B>. Neither party shall assign this Agreement without the
express written consent of the other party.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>6.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Facility, Tank and Equipment Condition. </B>The Operator shall, at its
sole cost and expense, provide and maintain all handling and storage
equipment and facilities necessary to the performance of its services
expressed hereunder, including without limitation the storage tanks, in
compliance with prevailing industry standards and all applicable Laws (as
defined below) as they may exist from time to time.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>7.</B>
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Customers Compliance with Laws. </B>In the conduct of its business in the
premises of the Terminals, the Customer shall comply in all material
respects
</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">3 of  7
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="left" style="margin-left:3%; margin-right:0%"><FONT size="2">with all federal, state and local laws, ordinances, decrees, orders,
regulations, permits or other requirements having the force of law
(hereinafter, the &#147;Laws&#148;).
</FONT>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>8</B>.
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Entire Agreement. </B>This Agreement shall constitute the entire agreement
concerning the subject hereof between the parties superseding all previous
agreements, negotiations and representations made prior or contemporaneous
to the date hereof. This Agreement shall be modified or amended only by
written agreement executed by both parties hereto.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="1%" nowrap align="left"><FONT size="2"><B>9</B>.
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2"><B>Controlling Law. </B>This Agreement shall be governed by and construed in
accordance with the laws of the State of Texas.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2"><B>EXECUTED </B>as of the date first set forth above.
</FONT>
<P align="left"><FONT size="2"><B>MIDSTREAM FUEL SERVICE LLC</B>
</FONT>
<P align="left"><FONT size="2"><B>By: Martin Resource Management Corporation, Its Sole Member</B>
</FONT>

<DIV align="left">
<TABLE cellspacing="0" border="0" cellpadding="0" width="38%">

<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><FONT size="2"><B>By:</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ ROBERT D. BONDURANT</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left">
<TABLE cellspacing="0" border="0" cellpadding="0" width="50%">

<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="39%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><FONT size="2"><B>Name:</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Robert D. Bondurant</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><FONT size="2"><B>Title:</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Executive Vice President and Chief Financial Officer</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="left"><FONT size="2"><B>MARTIN OPERATING PARTNERS, LP</B>
</FONT>
<P align="left"><FONT size="2"><B>By:  Martin Operating GP LLC, Its General Partner</B>
</FONT>
<DIV align="left">
<TABLE cellspacing="0" border="0" cellpadding="0" width="50%">

<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><FONT size="2"><B>By:</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Martin Midstream Partners L.P., Its Sole Member</B></FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left">
<TABLE cellspacing="0" border="0" cellpadding="0" width="50%">

<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="39%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><FONT size="2"><B>By:</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Martin Midstream GP LLC, Its General Partner</B></FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left">
<TABLE cellspacing="0" border="0" cellpadding="0" width="50%">

<TR valign="bottom">
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><FONT size="2"><B>By:</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ ROBERT D. BONDURANT</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left">
<TABLE cellspacing="0" border="0" cellpadding="0" width="50%">

<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><FONT size="2"><B>Name:</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Robert D. Bondurant</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><FONT size="2"><B>Title:</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Executive Vice President and Chief Financial Officer</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">4 of 7
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="center"><FONT size="2"><B>Attachment A<BR>
LUBRICANTS &#038; DRILLING FLUIDS<BR>
Terminal Services Agreement<BR>
Marine Terminal Facilities (Terminals)</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>1.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Venice, LA</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>2.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Amelia, LA</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>3.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Berwick, LA</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>4.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Intracoastal City, LA</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>5.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Cameron (East), LA</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>6.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Cameron (West), LA</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>7.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Sabine Pass, TX</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>8.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Galveston, TX</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>9.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Kirby Facility in Channelview, TX</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>10.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Freeport, TX (Tesoro)</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>11.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Port O&#146;Connor, TX</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><B>12.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<B>Aransas Pass, TX (Harbor Island)</B></FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">5 of 7
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="center"><FONT size="2"><B>Attachment B<BR>
LUBRICANTS &#038; DRILLING FLUIDS<BR>
Terminal Services Agreement<BR>
Storage Tank List</B>
</FONT>

<P align="left"><FONT size="2"><B>LOUISIANA FACILITIES</B>
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="center" colspan="2"><FONT size="1"><B>Tank</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Tank</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Height</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Diameter</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Calculated</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Nominal</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Stored</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Construction</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="center" colspan="2"><FONT size="1"><B>No.</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Age</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>(feet)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>(feet)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Vol.(gal)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Vol. (gal)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Materials</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Materials</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left" colspan="2"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>AMELIA</B></FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1982</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">13</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,888</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,769</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,769</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,691</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,600</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,691</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,600</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,691</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,600</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,769</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">11</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,769</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,769</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">13</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,769</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">14</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,013</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,013</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,013</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">17</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,567</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1998</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2,538</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>BERWICK</B></FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">360</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">350</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Used Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">564</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">594</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>CAMERON EAST</B></FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1982</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,812</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,800</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,812</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,800</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>CAMERON WEST</B></FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="3"><FONT size="2"><B>INTRACOASTAL CITY</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">11</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">13</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">14</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">17</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">19</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">20</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">21</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1969</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,732</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>VENICE</B></FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">6 of  7
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="center"><FONT size="2"><B>Attachment B<BR>
LUBRICANTS &#038; DRILLING FLUIDS<BR>
Terminal Services Agreement<BR>
Storage Tank List</B>
</FONT>

<P align="left"><FONT size="2"><B>TEXAS FACILITIES</B>
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center" colspan="34"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>FREEPORT #1</B></FONT></DIV></TD>
</TR>

<TR valign="bottom">
    <TD align="center" colspan="34"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>FREEPORT OOS</B></FONT></DIV></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center" colspan="34"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>GALVESTON #1</B></FONT></DIV></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1982</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">11,653</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1982</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">11,653</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1982</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">18</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">11,653</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1987</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,455</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,800</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" colspan="34"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>GALVESTON #1 CONTINUED</B></FONT></DIV></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1987</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,455</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,800</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1987</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">21</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,896</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1987</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">21</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,896</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1999</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,800</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1999</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,800</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">&nbsp;&nbsp;10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1999</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,800</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center" colspan="34"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>HARBOR ISLAND</B></FONT></DIV></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1976</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,603</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1995</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,221</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1995</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,221</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1976</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,510</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1995</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,510</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">&nbsp;MI-3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,753</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Oil Based Mud</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">&nbsp;MI-4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,753</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Oil Based Mud</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">&nbsp;MI-5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,753</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Oil Based Mud</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">&nbsp;MI-6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,753</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Oil Based Mud</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">&nbsp;MI-7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,753</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H2O Oil Based Mud</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">&nbsp;MI-8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,753</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H2O Oil Based Mud</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">&nbsp;MI-9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,753</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H2O Oil Based Mud</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2"><FONT size="2">MI-10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">19,753</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H2O Oil Based Mud</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center" colspan="34"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>HOUSTON</B></FONT></DIV></TD>
</TR>

<TR valign="bottom">
    <TD align="center" colspan="34"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>PORT O&#146;CONNOR #1</B></FONT></DIV></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,013</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,013</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">V - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,263</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,200</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,263</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,200</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">H - Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">11,744</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">20</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">11,744</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD align="center" colspan="34"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><B>SABINE PASS</B></FONT></DIV></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,808</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,808</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1985</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">15</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8,808</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1992</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">27</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10,146</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1992</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">27</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10,146</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1992</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">14</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,261</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Lube Oil</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Welded Steel</FONT></TD>
</TR>
</TABLE>
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