Amendment No. 7 to STUSCO Purchase Contract No. LPS690012 between Shell Trading (US) Co. and RWG Energy

Summary

This amendment updates the crude oil purchase agreement between Shell Trading (US) Co. (STUSCO) and RWG Energy. It sets new pricing terms for North Texas sweet crude oil from specified leases, with delivery either by transport or pipeline. Payment is due by the 20th of the month after delivery. The contract continues month-to-month after December 31, 2005, unless either party gives 30 days' written notice. STUSCO may adjust price deductions for changes in transportation costs or crude quality. Assignments require written consent, and liability for indirect damages is excluded.

EX-10.22 11 ram8kexh1022-051206.txt EXHIBIT 10.22 STUSCO Purchase Contract No. LPS690012 February 1, 2006 Dated: June 19, 2001 Amendment No: 007 Page 1 of 2 RWG Contract No: EXHIBIT A RWG Energy Contract: Rachel Tarantola STUSCO Contract: Terry Allison Phone: 915 ###-###-#### Phone: 817 ###-###-#### ITEM(S) AMENDED:

RWG Energy's Sale and Delivery to STUSCO: Quality: North Texas sweet type crude oil. Quantity: 1. Equal to production purchased by STUSCO from leases listed on Attachment #1A. 2. Equal to production purchased by STUSCO from leases listed on Attachment #1B. Delivery: 1. At header of leases on Attachment 1A, into crude oil transports designated by STUSCO. 2. From the leases listed on Attachment 1B into TEPPCO pipeline. Price: 1. Koch's WTI posting plus Platt's Trade-month P+ minus $1.20/bbl. 2. Koch's WTI posting plus Platt's Trade-month P+ minus $1.20/bbl. Payment: 1. Due on or before the 20th of the month following month of delivery. TERM 1. For the term of November 1, 2000 through December 31, 2005 and month to month thereafter until the 1st of the month following either party's 30 days written notice of termination. 2. For the term of August 1, 2000 through December 31, 2005, and month to month thereafter, until the 1st of the month following either party's 30 days written notice of termination. SPECIAL PROVISIONS: If there is an increase in the transportation costs incurred by STUSCO to move the crude received under this agreement to market, STUSCO may adjust the price deductions to compensate for the transportation cost changes. If there is a material decline in the quality of crude received under this agreement to market, STUSCO may adjust the price deductions to compensate for the quality change. ASSIGNMENT: The Contract shall extend to and be binding upon the successors and assigns of the Parties, but neither this Contract nor any part, specifically including the right to receive payment, shall be assigned or transferred by either party or by law without the prior written consent of the other Party, which shall not be unreasonably withheld, and any assignment or transfer made by either Party without the other Party's written consent need not be recognized by and shall not be binding upon the other Party. STUSCO Purchase Contract No. LPS690012 February 1, 2006 Dated: June 19, 2001 Amendment No: 007 Page 2 of 2 RWG Contract No: LIMITATION OF LIABILITY: Neither party shall be liable for indirect, special, or consequential damages. SHELL TRADING (US) CO CUSTOMER NAME RWG ENERGY ATTACHMENT 1A STUSCO\CUSTOVERCONTRACLPS690012 ADMENDMENT REVISED 2/1/2006

SHELL TRADING (US) CO CUSTOMER NAME RWG ENERGY ATTACHMENT 1B STUSCO\CUSTOVERCONTRACLPS690012 ADMENDMENT REVISED 2/1/2006