Case Case 10-01068 09-11899 Doc Doc 215 1284-2 Filed 03/16/11 Filed 11/09/12 Entered Entered 03/16/11

11/09/12 08:27:06 14:47:58 Main Document Ex. A to Memoranum in Page Support 1 of 1 Page 1 of 1

UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF LOUISIANA In re: * VIRGIN OIL COMPANY, INC. * Debtor * ************************************ CIT CAPITAL USA, INC. V. VIRGIN OIL COMPANY, INC. Partial Order For the Reasons set forth on the record of this matter on entered its ruling on the record on March 14, 2011. IT IS ORDERED, that Virgin Oil Company, Inc. (Debtor) is recognized as the operator of the Empire lease. IT IS FURTHER ORDERED, that Debtor is recognized as the record owner of an 85% working interest IT IS FURTHER ORDERED, that Offshore Oil USA, Inc. Is indebted to Debtor under the terms of the Joint Operating Agreement between them for $803,705.00 as of February 1, 2011. IT IS FURTHER ORDERED that any issues with regard to ownership or collateral claims against production or proceeds from production are attributable to the Empire field are specifically reserved for trial on the merits on April 15, 2011. The Court does not, by this ruling determine the rights of offset or setoff between the Debtor and any party, nor the ranking of any security interest against minerals produced or the proceeds received from the Empire lease. Substantive determination on these and any other causes of action existing between the parties to this matter are reserved for further trial on the merits. The rulings set forth above are only partial. The Court will address the additional claims and issues presented by the relationships and conduct between Debtor, Virgin Offshore, and their creditors at a trial or trials scheduled by the Court in subsequent case management orders. New Orleans, La., March 15, 2011. ________________________ Judge Elizabeth Magner Chapter 11 Case No. 09-11899 Section A Adv. Proc. No. 10-01068

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