Thor Energy Resources and Subsidiaries - Page 7

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                    arrangement made to or for the benefit of any                     
                    such officers or key employees,                                   
                         (iv) any loan, guarantee, gift, bonus,                       
                    pension, retirement, insurance, death or                          
                    other fringe benefit accrued, paid or granted                     
                    to any officer or employee of the Company,                        
                         (v) any loans to or borrowing by the                         
                    Company, any mortgage or pledge with respect                      
                    to any of its properties or assets or any                         
                    assumption, guarantee, endorsement or other                       
                    agreement to become liable (directly,                             
                    contingently or otherwise) for the                                
                    obligations of any other person or entity,                        
               *        *        *        *        *        *        *                
                         (vii) any sale or disposition (or                            
                    agreement to sell or dispose) of any assets,                      
                    tangible or intangible, of the Company except                     
                    in the ordinary course of business,                               
                         (viii) any cancellation or compromise                        
                    (or agreement to cancel or compromise) any                        
                    debts owed or claims of the Company,                              
                         (ix) any declaration or payment of any                       
                    dividend or other distribution in respect of,                     
                    or purchase, redemption or acquisition of any                     
                    shares of the capital stock of the Company,                       
               *        *        *        *        *        *        *                
                         (xii) any other event or condition of                        
                    any character pertaining to and materially                        
                    adversely affecting the Company or its                            
                    business.                                                         
               *        *        *        *        *        *        *                
                    4.20  Intercompany Documents.  Schedule 4.20                      
               attached hereto sets forth a true and complete list of                 
               all agreements, contracts, commitments and                             
               understandings (including, but not limited to,                         
               intercompany loans) between the Company and/or the                     
               Seller or between either of the foregoing and any of                   
               their affiliates.                                                      





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