HORIZON EXPLORATION LIMITED: Mortgages

All the company's rights title and interest present and future in and to the assigned moneys (as defined) and the cash collateral account (as defined) together with any certificates deposit receipts or other instruments or securities relating thereto. See the mortgage charge document for full details.

All the assigned property (as defined) and all its benefits and interests present and future. See the mortgage charge document for full details.

All the "charged assets" of the company being a). All the company's book and other debts and all other monies of any nature and b). All the company's right title and interest in and to the "security account" maintained at a branch of national westminster bank PLC with acc/no's;-13624008 (sterling) and 01/03668568 (us dollar) or any other accounts opened under the terms of the charge.

All the equipment as set out in schedule 1A attached to the form 395 inclusive of 32 model 5011 compassbird, 12 model 4012 acoustic cmx and 128 d-120 lithium batteries.. See the mortgage charge document for full details.

The contract proceeds as defined in the schedule. See the mortgage charge document for full details.

The contract proceeds as defined in the schedule attached hereto. See the mortgage charge document for full details.

The contract proceeds (as defined in the schedule attached hereto). See the mortgage charge document for full details.

All the equipment as listed in the schedules to the form 395 inclusive of 1 system 3 dmu, 1 line interface unit and 1 system 3 software version 1.7. see the mortgage charge document for full details.

All sums to be paid by amerada hess limited (the client) to the company from time to time under a seismic research survey agreement dated 30TH may 1995 (the contract) together with all rights of action and interest associated therewith. See the mortgage charge document for full details.

The company assigned to the bank all sums to be paid by conoco (UK) limited to the company from time to time under a seismic research survey agreement dated 7 june 1995 together with all rights of action and interest associated therewith.

The company assigned to the bank all sums to be paid by bhp petroleum UK limited to the company from time to time under a seismic research survey agreement dated 3 july 1995 together with all rights of action and interest associated therewith. See the mortgage charge document for full details.

All sums to be paid by arco ireland limited to the company from time to time under a seismic research survey agreement dated 1ST february 1995 together with all rights of action and interest associated therewith.

All sums due to be paid by anzoil (asia) pte limited to the company from time to time under a seismic research survey agreement dated 1ST march 1995.

All sums to be paid by british gas exploration and production limited to the company from titme to time under a seismic research survey agreement.

All sums due to be paid by kelt UK limited to the company under a seismic research survey agreement dated 30/01/95.

All sums due to be paid by enerprise oil PLC to the company under a seismic research survey agreement dated 20/03/95.

All the chattels listed in the schedule to the form 395 please refer to form 395 for full details. See the mortgage charge document for full details.

The policy and all moeys payable thereunder tog with all the powers and remedies. See the mortgage charge document for full details.

The policy and all money payable thereunder tog with all powers and remedies. See the mortgage charge document for full details.

The life policy and all money that may become payable thereunder and the benefit of all powers and remedies. See the mortgage charge document for full details.

All sums to be paid by deminex UK oil & gas limited to the company from time to time under a seismic research survey agreement dated 4TH august 1994.

All bills of exchange, promissory notes and negotiable instruments of any description, all bills of lading, shipping documents, dock warrants, delivery orders, wharfingers and other warehouse warrants and receipts, policies and certificates of insurance, invoices and all other documents of title or documents relating to produce and goods. See the mortgage charge document for full details.

By way of first fixed charge all accounts held by the company with the bank or any other bank, building society or financial institution and all the right, title, benefit and interest of the company whatsoever present and future therein together with any certifications of deposit, deposit receipts or other instruments or securities relating thereto. See the mortgage charge document for full details.

Fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery. See the mortgage charge document for full details.

Insurance and requisition compensation. See the mortgage charge document for full details.