EX-10.28 98 iig10-28.txt 3RD AMD TO AGMT OF PSHP II-G THIRD AMENDMENT TO AGREEMENT OF PARTNERSHIP GEODYNE PRODUCTION PARTNERSHIP II-G This Third Amendment to Agreement of Partnership of Geodyne Production Partnership II-G (the "Partnership") is entered into by and between Geodyne Resources, Inc. ("Resources"), a Delaware corporation, as successor Managing Partner, and Geodyne Energy Income Limited Partnership II-G ("Geodyne II-G"), as General Partner. WHEREAS, on April 10, 1989, Geodyne Production Company ("Production"), as Managing Partner, and Geodyne II-G, as General Partner, executed and entered into that certain Agreement of Partnership of PaineWebber/Geodyne Energy Income Production Partnership II-G (the "Agreement"); and WHEREAS, on February 26, 1993, Production and Geodyne II-G executed and entered into that certain First Amendment to Agreement, whereby it changed (i) the name of the Partnership from "PW/Geodyne Production Partnership II-G" to "Geodyne Production Partnership II-G", (ii) the address of the Partnership's principal place of business, and (iii) the address for the Partnership's agent for service of process; and WHEREAS, Production merged with and into Resources, its parent corporation, effective June 30, 1996; and WHEREAS, on July 1, 1996, Production, Resources and Geodyne II-G executed and entered into that certain Second Amendment to Agreement, whereby all references to Production as Managing Partner were amended to reflect, instead, Resources as Managing Partner; and WHEREAS, Section 10.1 of the Agreement provides that the managing partner of the partnership (the "Managing Partner") may, without prior notice or consent of any other Partner (as defined in the Agreement), amend any provision of this Agreement if, in its opinion, such amendment does not have a material adverse effect upon the Limited Partnership (as defined in the Agreement); and WHEREAS, Section 2.3 of the Agreement provides that the Partnership shall continue in full force and effect until December 31, 2001, provided that the Managing Partner may extend the term of the Partnership for up to five periods of two years each or until dissolution prior thereto pursuant to the provisions of the Agreement; and WHEREAS, Resources has elected to extend the life of the Partnership an additional two years. NOW, THEREFORE, be it resolved that Section 2.3 is hereby amended and rested as follows: -1- The Production Partnership shall continue in force and effect until December 31, 2003, provided that the Managing Partner may extend such term for up to four periods of two years each, or until dissolution prior thereto pursuant to the provisions thereof. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands as of the 14th day of November, 2001. Geodyne Resources, Inc. as Managing Partner By: /s/ Dennis R. Neill ---------------------------- Dennis R. Neill President Geodyne Energy Income Limited Partnership II-G as General Partner By Geodyne Resources, Inc. General Partner By: /s/ Dennis R. Neill ---------------------------- Dennis R. Neill President -2-