SAXON OIL LIMITED

A trust deed

Created on 19 Dec 1997

Delivered on 31 Dec 1997

Status fully-satisfied

Persons Entitled

The Law Debenture Trust Corporation PLC(The Trustee),the Security Holder and All Otherpersons Who are from Time to Time Parties to the Miller Uuoa

Amount Secured

The liabilities and obligations of the company to provide for the costs of abandonment of the unit facilities under the miller unitisation and unit operating agreement dated 7 june 1990 as amended,novated and supplemented from time to time (the "miller uuoa").the current parties to the miller uuoa are the company;britoil (beta) limited;conoco (U.K.) limited;saxon oil miller limited and saga petroleum UK limited

Short Particulars

The property mortgaged or charged is the trust fund from time to time under the trust deed.the trust fund will consist of payments to the trustee made from time to time by:the company;and/or a third part pursuant to a security provided by it in respect of the company's share of anticipated abandonment costs under the miller uuoa.. See the mortgage charge document for full details.

Transactions

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Debenture

Created on 10 Jun 1986

Delivered on 27 Jun 1986

Status fully-satisfied

Persons Entitled

The Governor and Company of the Bank of Scotland.

Amount Secured

All monies due or to become due from the company to the chargee under the terms of a loan agreement dated 16/5/84 or this debenture

Short Particulars

Petroleum reservoir k/a the forties field (north sea - scottish sector). (Please see doc M51 for full details).

Transactions

Deed

Created on 10 Jun 1986

Delivered on 27 Jun 1986

Status fully-satisfied

Persons Entitled

The Governor and Company of the Bank of Scotland.

Amount Secured

All monies due or to become due from the company to the chargee under the terms of a loan agreement dated 16/5/84 or this debenture

Short Particulars

Petroleum reservoir k/a the forties field (north sea - scottish sector). (Please see doc M50 for full details).

Transactions

Deed

Created on 16 May 1984

Delivered on 18 May 1984

Status fully-satisfied

Persons Entitled

The Governor and Company of the Bank of Scotland

Amount Secured

All monies due or to become due from the company to the chargee under the terms of a loan agreement dated 16/5/1984 and all other sums due under the debenture

Short Particulars

The one quarter of one per cent undivided interest of saxon oil PLC in and to the petroleum reservoir known as the forties field. For full details see doc m 47.

Transactions

Debenture

Created on 16 May 1984

Delivered on 18 May 1984

Status fully-satisfied

Persons Entitled

The Governor and Company of the Bank of Scotland

Amount Secured

All monies due or to become due from the company to the chargee under the terms of a loan agreement dated 16/5/1984 and all other sums due under the debenture

Short Particulars

The one quarter of one per cent undivided interests of saxon oil PLC in and to the petroleum reservoir known as the forties field. For full details see doc M46.

Transactions