SECURITIES PURCHASE AGREEMENT by and among PIONEER DRILLING COMPANY WEDGE GROUP INCORPORATED WEDGE ENERGY HOLDINGS, L.L.C. WEDGE OIL & GAS SERVICES, L.L.C. TIMOTHY DALEY JOHN PATTERSON and PATRICK GRISSOM January 31, 2008Securities Purchase Agreement • February 1st, 2008 • Pioneer Drilling Co • Drilling oil & gas wells • Texas
THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of January 31, 2008, by and among Pioneer Drilling Company, a Texas corporation (“Pioneer”); WEDGE Group Incorporated, a Delaware corporation (“WEDGE Parent”); WEDGE Energy Holdings, L.L.C., a Delaware limited liability company (“WEDGE Energy”); WEDGE Oil & Gas Services, L.L.C., a Delaware limited liability company (“WEDGE Oil & Gas”); Timothy Daley, a resident of the State of Colorado (“Daley”); John Patterson, a resident of the State of Colorado (“Patterson”); and Patrick Grissom, a resident of the State of Utah (“Grissom”). WEDGE Energy, WEDGE Oil & Gas, Daley, Patterson and Grissom are sometimes referred to herein individually as a “Seller” and collectively as the “Sellers.” Pioneer, WEDGE Parent and the Sellers are sometimes referred to herein individually as a “Party” and collectively as the “Parties.”
