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AMENDED AND RESTATED PROMISSORY NOTE

Promissory Note

AMENDED AND RESTATED PROMISSORY NOTE | Document Parties: BEARD CO /OK | BEARD PINNACLE, LLC You are currently viewing:
This Promissory Note involves

BEARD CO /OK | BEARD PINNACLE, LLC

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Title: AMENDED AND RESTATED PROMISSORY NOTE
Governing Law: Oklahoma     Date: 4/17/2006
Industry: Coal     Sector: Energy

AMENDED AND RESTATED PROMISSORY NOTE, Parties: beard co /ok , beard pinnacle  llc
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                                                                   EXHIBIT 10.36

                              AMENDED AND RESTATED
                                 PROMISSORY NOTE

$1,100,000.00                                           Oklahoma City, Oklahoma
                                                               October 7, 2005

     For value received, the undersigned, BEARD PINNACLE, LLC, an Oklahoma
limited liability company (the "Maker"), agrees to all of the terms of this
Promissory Note (this "Note") and promises to pay to the order of PinnOak
Resources, LLC, a Delaware limited liability company (the payee, its successors
and assigns are hereinafter called the "Holder"), at Pointe Plaza Suite 300, 601
Technology Drive, Canonsburg, PA 15317-9523, or at such other place as may be
designated in writing by the Holder of this Note, the principal sum of ONE
MILLION ONE HUNDRED THOUSAND DOLLARS ($1,100,000.00) or, if less than such
amount, the aggregate unpaid principal amount of all advances or loans made by
the Holder to the Maker, and all interest accruing thereon. This Note will be
payable as follows:

1.    Interest will accrue on the unpaid principal balance of this Note at the
     per annum interest rate of four percent (4%) (the "Applicable Rate").
     Interest will commence to accrue as advances or loans are made on the Note
     and thereafter until this Note is paid in full.

2.    If Holder and Maker enter into a Subscription Agreement on or before
     December 31, 2005, providing for the sale and issuance of a membership
     interest in Maker to Holder (the "Subscription Agreement"), then all unpaid
     principal amounts advanced pursuant to the terms of this Note and all
     unpaid interest accrued thereon shall be immediately applied to the
     purchase or subscription price for that membership interest, and this Note
     shall then be cancelled and of no further force or effect.

3.    If Holder and Maker do not enter into a Subscription Agreement on or before
     December 31, 2005, then all obligations evidenced by and owing pursuant to
     the terms of this Note, including unpaid principal and interest, shall be
     due and payable July 1, 2006 (the "Maturity Date").

     Both principal and interest owing pursuant to the terms of this Note are
payable in the lawful currency of the United States of America and in
immediately


 
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