SETTLEMENT AGREEMENT, RELEASE, AND PURCHASE & SALE AGREEMENTSettlement Agreement • August 31st, 2010 • Warren Resources Inc • Crude petroleum & natural gas • Texas
This SETTLEMENT AGREEMENT, RELEASE, AND PURCHASE & SALE AGREEMENT (the “Agreement”) is entered into and effective this 26th day August 2010, by, between, and among: (1)(A) GLOBAL RIG COMPANY ASA, a corporation organized under the laws of Norway; (B) GLOBAL RIG ACTIVE 2 AS, a corporation organized under the laws of Norway, and (C) NORAM DRILLING COMPANY a Texas corporation (collectively “Global/NorAm”); and (2) WARREN E&P, INC., a New Mexico corporation, or its designated affiliate (“Warren”). Global/NorAm and Warren may be referred to herein individually as a “Party” and collectively as the “Parties.”
