Exhibit 10.122
THE COMPANY HAS REQUESTED AN ORDER
FROM THE SECURITIES AND EXCHANGE COMMISSION (THE
“COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT
TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS
HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY
WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS
EXHIBIT WITH “*****”.
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Sunoco Logistics
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Sunoco Partners
Marketing & Terminals LP.
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907 S. Detroit
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Tulsa, OK 74120
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September 11, 2008
Ladder Energy Company
c/o EnMark Services, Inc
Attn: Lee D.
Vendig, II
1700 Pacific Avenue,
Suite 4500
Dallas, TX 75201
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Re:
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Crude Oil Purchase
Agreement
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Sunoco Partners Reference No.
502606
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Dear Mr. Vendig,
Reference is made to the above
subject Crude Oil Purchase Agreement whereby Sunoco Partners
Marketing & Terminals L. P. will purchase all of the crude
oil and condensate, produced from the lease(s) listed on
Exhibit A.
This confirms our understanding that
by mutual consent said agreement shall be amended as
follows:
Effective September 1, 2008,
the Price shall be amended to read as follows:
Sunoco’s base price for
Oklahoma Sweet crude oil (currently Sunoco’s Column 7), no
gravity adjustment, available in Sunoco Partners
Marketing & Terminals L. P. Crude Oil Price Bulletin
Summary as published, modified by the net adjustment. Buyer and
Seller agree that for all leases listed on the attached
Exhibit A and any additions thereto during the term of this
agreement, the net adjustment will be computed as set forth in
Exhibit A. The Temporary Marketing Adjustment (T.M.A.)
currently equals *****(1) per barrel.
For pricing purposes, the oil
delivered during any given calendar month hereunder shall be deemed
to have been delivered in equal daily quantities during such
month.
Except as specifically modified, all
terms and conditions of said Crude Oil Purchase Agreement shall
remain in full force and effect.
Please acknowledge
