2011 HYDRA RIG COILED TUBING UNIT

Terms And Conditions 1. All purchases will be paid in full in U.S. funds upon receiving invoice. Please bid only with available funds as Showtime Auctioneers will not finance any purchases. 2. The transfer of ownership of any lot occurs upon the auctioneer announcing “sold”. All buyers waive the right to stop payment on any funding of purchased lots. 3. Showtime Auctioneers will not accept the following forms of payment; Cash, Drafts, Credit Cards or ACH Payments. 4. Upon receiving full payment of invoice all lots will be released. Showtime Auctioneers will not release any assets based on partial payments. All assets on invoice will be ‘held’ until invoice is paid in full. 5. Administrative Charges. Internet or Phone Bidding will incur a 10% administrative charge on all purchases. 6. The Property. All buyers should inspect all and any assets they would like to purchase prior to the sale. All items are being offered “AS IS, WHERE IS, WITH ANY FUALTS” and “NO WARRANTIES OF ANY KIND, INCLUDING EXPRESS WARRANTIES AND IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY”. Showtime Auctioneers provides a catalog to represent the assets and it is a guide only. Any details should be verified by the buyer. 7. Titles: Buyer hereby appoints Showtime Auctioneers as agent for the limited purpose of transferring and delivering title to Buyer. Following payment in full Showtime Auctioneers will deliver all titles and bill of sales via FedEx delivery within a reasonable period following the sale. 8. Risk of Loss. Risk of Loss in regard to purchased property passes immediately to Buyer upon Showtime Auctioneers announcing the lot “sold”. Any theft, loss or damage occurring after such announcement shall be the Buyer’s responsibility solely. Buyer warrants and represents that Buyer has all necessary insurance for any purchased items in the auction. Buyer shall remove all Buyer’s property from the auction site before the end of the checkout period listed within the auction catalog. 9. Tie Bids: If the auctioneer says “sold” and two bidders believe they are the high bidder. The auctioneer may choose to re-open the bidding between the tied bidders only. This is at the sole discretion of the auctioneer. 10. Bidding Increments. The auctioneer reserves the right to refuse any fractional bids at the auctioneer’s discretion. 11. Late Removal. Late removal of purchased property may result in a $35.00 daily storage fee. Showtime Auctioneers will deem any lots or partial lots left after the checkout period listed in the catalog abandoned and may be re-claimed to cover any cost associated. 12. Check-Out Procedures. All items need to be picked up and removed from yards by the end of the checkout period. Any items left past the checkout period will be deemed abandoned and may be re-claimed and sold by Showtime Auctioneers to cover and cost associated with the abandoned property. All checkout locations and details can be found in the auction catalog and available on our website. This Agreement is between Showtime Auctioneers, LLC and the Bidder and shall be governed by and interpreted by the laws of the State of Texas. Any dispute arising between Showtime Auctioneers and any shipper, bidder, consignor, buyer, or consignee agree to a venue limited to Tarrant County, Texas and may be referred to Arbitration by either party before the filing of any suit. Any fee’s incurred by Showtime Auctioneers regarding the compliance of these terms and conditions shall be assessed against the buyer as Showtime Auctioneers seeks recovery for any damages. Upon registering for this auction, the Bidder understands and agrees to all of the above terms and conditions. Sales Tax Per Yard Location Yard 1 - 8200 W Freeway, Fort Worth, TX - 8.25%