ContractJoint Venture Development Agreement • April 1st, 2002 • Beta Oil & Gas Inc • Crude petroleum & natural gas
[AVALON EXPLORATION, INC. LETTERHEAD] VIA FAX 918-495-1077 September 7, 2001 Ms. Janet McGehee Beta Oil & Gas, Inc. 6120 South Yale Suite 813 Tulsa, OK 74136 Reference: WEHLU Joint Venture Development Agreement Dear Janet: In accordance with our verbal and written communications, Avalon Exploration, Inc. (Avalon) requests the following changes and amendments to be incorporated into the Joint Venture Development Agreement (JVDA) dated August 8, 2000 by and between Avalon and Beta. Avalon's amendments are as follows: 1. Article 1(j) - The geographical area shall be amended to the area set out on the attached Exhibit A and all other portions of the WEHLU lying outside the Exhibit A area shall be released from the JVDA. The recount #1-32 is not included in the geographic area of the revised JVDA set out on the attached Exhibit A of this letter; however, the Recount #1-32 well located in Section 32-14N-4W shall be deemed to be in the contractual JVDA area for purposes of defining payout and
