MANAGEMENT AGREEMENT BY AND BETWEEN NATIONAL ENERGY GROUP, INC. AND PANACO, INC.Management Agreement • November 15th, 2004 • National Energy Group Inc • Crude petroleum & natural gas
Pursuant to an order dated November 3, 2004 issued by the United States Bankruptcy Court for the Southern District of Texas confirming a Chapter 11 proceeding Plan of Confirmation in the matter of Panaco, Inc., this Management Agreement (the “Agreement”) is made effective on the 16th day of November, 2004 by and between National Energy Group, Inc., a Delaware corporation (“NEG”) and Panaco, Inc., a Delaware corporation (“Panaco”), referred to herein individually as “Party” or collectively as “Parties.”
