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<br />rt~.c~; <br />JohnA~'Leonard at~0'Cloclc&~.-Min, 'M. <br />RUSSELL, TATE & GOWAN, F.C. <br />)020 Hamilton 8ullding JUN ?, 5 1990 <br />Wichita Falls, Texas 76301 <br />8) 7/322-52) 6 <br />Attorney for Oakrldge Energy, {nc. uNtTEDSTATE58ANKRUPTCY.000RT, <br />kORT.HERN DISTRICT OF, TEXAS <br />IN THE UNIT!.D STATES DANICAUPTCY COURT <br />FOR THE NORTHERN DISTRICT OF TEXAS <br />WICt~ITA FALLS DIVISION <br />IN RE: § <br />OAKRIDGE ENERGY, INC. § <br />§ Case No, 788.70093 <br />Debtor § (Chapter 11), <br />§ ?. <br />NOTICE OF COMPROtvIISE AND SFTTi.rMEN7 <br />T0: All Greditors and Parties in Interest, this 25ih day of June, 1990. <br />Oakridge Energy, Inc. ('Cak~dga') is happy to announce to ell creditors and <br />parries In interest that the suit cf ~Icrir,igo Fnergy,~lnc, v. tone Star Gas Gomoanv,g~ <br />~, Cause No. 130,044-C, in the 89th District Court of Wichita County, Texas, has been <br />success{ully concluded. A settlement has been reached which will provide the <br />following: <br />1. Oakridge will receive Tw6nty Million Dollars (P20,000,000.00). <br />2. Oal<ridge will purchase rite interest of EP Operating Company in the <br />South .Texas Gas Properties for the sum of Three Million Five liundred Thousand <br />Dollars {$3,500,000,00). <br />3. Oakridge will leave along term gas contract with Lone Star Gas <br />Company which will provide ttte following: <br />a. A minimum price of $3.00 per MMBTU with provisions for price <br />escalation. <br />b. A term of 10 years. <br />Notice of Compromise and Settlement <br />Page 1 <br />88(t 2E~`; . ; <br />• ,,i~ . , <br />~~ ~, <br />