<PAGE>
 
     directors of such investment company (Norex Plc owns approximately
     48.3% of the outstanding capital stock of Norex America). Norex Plc and
     Norex America disclaim any beneficial interest with respect to such
     1,300,000 shares. Mr. Siem is chairman and chief executive officer of Norex
     America and managing director of Norex Plc, and under the rules of the
     Commission all of such shares may be deemed to be beneficially owned by
     him. Mr. Siem disclaims beneficial ownership with respect to all of the
     foregoing shares.
(5)  All of such shares are owned by the Robert W. Jackson Trust.
(6)  Mr. Williams owns 6,700 shares of Common Stock jointly with his wife.

                          EXECUTIVE COMPENSATION

     The following table sets forth information regarding annual and long-term
compensation with respect to the fiscal years ended September 30, 1993, 1992 and
1991 for services in all capacities rendered to the Company by those persons who
were, at September 30, 1993, (i) the company's chief executive officer and (ii)
the other four most highly compensated executive officers of the Company
(collectively referred to hereon as the "Named Officers"). The format and
information presented are as prescribed in the revised rules of the Commission.
In accordance with transitional provisions of the rules, information in the "All
Other Comp." column is not presented for years prior to 1992. All positions are
with the Company unless otherwise indicated.

                        Summary Compensation Table

<TABLE> 
<CAPTION> 
                                                     Long-Term  
                           Annual Compensation      Compensation
                           ---------------------    ------------
                                                       LTIP          All Other  
Name & Principal Position  Year  Salary($) Bonus($)  Payouts($)     Comp.($)(1)
- -------------------------  ----  --------- --------  ----------     -----------
<S>                        <C>   <C>       <C>       <C>            <C> 
Ronald C. Lassiter,        1993  358,600   175,000          --          2,100
Chairman and               1992  358,600   125,510   2,006,519(2)       1,200
Chief Executive Officer    1991  358,600   144,964          --            --

Robert W. Jackson,         1993  200,000      0             --            --
President and Chief 
Executive Officer, 
Cimarron Gas Holding
Company(3)

Thomas H. Bowersox,        1993  185,400    50,000          --          3,000
Executive Vice President   1992  183,600    64,890          --          1,400
                           1991  176,668    66,150          --
 
Marvin J. Migura,          1993  165,600    70,000          --          3,000
Senior Vice President and  1992  162,970    57,960          --          1,400
Chief Financial Officer    1991  150,136    59,188          --            --

Bruce K. Williams,         1993  156,240    39,000          --          3,000
Chairman, President and    1992  153,762    54,684          --          1,400
Chief Executive Officer,   1991  142,827    55,986          --            --
Zapata Exploration Company
</TABLE>

 

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