TERMINATION OF SECURITY AGREEMENTS
THIS TERMINATION OF SECURITY AGREEMENTS ("Termination"),
dated October ___, 1999, is made by Xxxx Xxxx, Xx. ("Secured
Party"):
RECITALS
A. The Exploration Company of Louisiana, Inc. and XCL
Land, Ltd. each executed and delivered a Security Agreement in
favor of Secured Party dated March 22, 1999 (collectively, the
"Security Agreements") in order to secure the full and punctual
payment and performance of the indebtedness and/or obligations
described therein.
B. The indebtedness and obligations described in the
Security Agreements have been satisfied.
AGREEMENT
NOW, THEREFORE, in consideration of the premises, the
Secured Party hereby agrees as follows:
Section 1. Termination of Security Agreements. The Security
Agreements are hereby terminated and the security interests
created thereby are released.
IN WITNESS WHEREOF, the undersigned has caused this
Termination to be duly executed as of the date first above
written.
___________________________________
Xxxx Xxxx, Xx.