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HomeMy WebLinkAbout876037 State of Wyoming Effective 11/86 Board of Land Commissioners getu,-~ to: Fo,m ML-2 Oil & Gas Lease Interest Assignmeat (Revised 4-96) State Land & Farm Loan Office Filing Fee - $25.00 Non-Refundable 122 West 25th Street Herschler Bailding, 3 West Cheyenne, WY 82002-0600 Wyoming Oil & Gas Lease Serial Number 01-00011 Assimnent Approv 4 Date ASSIGNOR, with name and address at, Baseline Minerals, Inc. 1645 Court Place, Suite 422 Denver, CO 80202 ~ being the owner of 100 percent LEASEHOLD (Type Interest: LeaseholWOperatin ~; Rights/Ove~iding RoyalW) interest in this lease, described in pa~icular if less than the total leasehold a~: Towns ~ p 24 ~h, Range l 15 West,.6"' P,M~ Lot 41 (formerly ALL Section 17) Lincoln Coanty, Wyomi,,g ~; aL., '2, u E D . 640.00 acres, more or less ~: L 1) ASSIGNEE, with name and address at: Condor Exploration, LLC 7720 E.. Belleview Avenue, Suite B-102 ~ Englewood, CO 80111 100 percent interest in the total leasehold, or as described in particular above. 2) ASSIGNEE, with name hnd address at: percent interest in the total leasehold, or as described in particular above. 3) ASSIGNEE, with name and address at: percent interest in the total leasehold, or as described in particular above. 4) ASSIGNEE, with name and address at: percent interest in the total leasehold, or as described in particular above. 5) ASSIGNEE, with name and address at: percent inlerest in the total leasehold, or as described in particular above. and reserving unto ASSIGNOR, 0.5000% Overriding Royalty Interest · This assignment is subject to any existing overriding royalties previously reserved. Reser~,ations of overriding interests must be approved by the Director, and any such approval is subject to the condition that overriding royalties mt~y be canceled by the Board of Land Commissioners if it finds that such overriding royalties create a burden on the lease which prevents or unrea:ionablY interferes With its development. ASSIGNOR certifies by signature on reverse, that ASSIGNOR is the owner of the interes,: above herein transferred, and ASSIGNEE(S) certify(les) by signing on the reverse that this assignment constitutes a' binding acceptance of al'l the terms, conditions, stipulations, restrictions and statutes governing the lease described above, and of the Rules of the Board, at ChapM- 6, Leasing of Subsurface Resources. This form may be duplicated. If space is needed for additional assignors or assignees submit copies of this form only. Page. 1 of.. 2 of Lease It. 01~00011 assignment datiid Februaty 8, 2001 SIGNED AS TO TRANSFER AND ACCEPTANCE this 8th~ ~ day of Fd:ruary 20 01 ASSI Ba erals, Inc. ~ ~ i - ~.~ By-Nixon Title - President Title - Manager Attest -. A~est - O { OgV 17 By- Title - Attest - STATE OF p;.'~"'~ ~. COUNTY ~[~t ~"~ . . : ~ O Um '. . Tlus ~ru~ffcnt w~c~oWl)dged before me this ] ,,~' C.. ".. ~O t ,;:.' //. 8th day of February, 2001, by Joseph W. Thamtl:t President of B~eline Minerals, Inc. Thi:~nstru.ne~a ed before me th s dayof h-/~[ 2, ~ 't .' ~, , . ~ ~. t" ~ 2001, by Nixon Lange, Manager of Condor Exploration, LLC. ~dtary Public ' "i) U ' AssD, nment Requirements_ Note: _A~o_t V~proved by the Director, State La~rm'Loan Office as per State Oil & Oas Lease Tenn~ ~,~d a p. roval is solidly for achnlnlstrative pta'poses anq s_hould not ~ inte~pretext as w_~a_~ant¥ tl~lois a~ss~ne: t okts legal or.eqo table int_~erest in h/s lease. Assilmments wlfich do not meet the reqniret ~ents list¢¢[ below and tho~~Rules will be r¢~tmaouroved. I. This tbrm nltlst be compleied-and st b nitted for any assigmnent of State Oil & Gas Lease leasehold interest, tmdivided or di',i:bd as to separate tracts, formations, zones or deposits, and for overriding royalty Interest. 2. Assignments of less tbmi a 100% leasehold interest, do not relieve the assignor of the obligations asa lessee onder the ter, N' ofthe lease regarding the interest conveyed tmless the State first has in band, a written agreement ~o be bound as lessee for t~l] obligations under tile lease for tlt~ a~signed portion fi-om the assignee. Tki; requirement sbould not be construed in any way as a release or recision of the obligations o£aay surety beading parties under the reqnirements of the ~tate Oil and Gas Lease, Board RuIes or this assign,:: cat. (Ail lessees are ultimately responsible for the performance under the lease and def,qnlt snbjects the entire lease to forfeiture not just the interest related to any performance obligation considered to be ~n default.) ' , 3. A signed original and one copy of each assigmnant must be filed with the Wyoming Stale Land and Farm Loan Office. 4. Each assi~,m,nent, if approved, is recol,mized by the State as effective as of the date of approval by the Director. Adequate '.mad imTst be fi:mished covering any and all productive zones prior to approval of any assignment of interest in an operating State oil and gas lease, whether wellbores exist on the leased lands or not, and in no case.can drilling operations, including to prospectively productive zones under operating leases, begin witboat a bond first being in place· 5. If there is more limn one party in interest to this ass gn neat then all such parties in interest must sig~l the docnment befor~ (,ssigmnen! approval ;viii be given. 6. The appropriate legal description of the conveyed lands interest must be givan. 7. Assignments creating a separate (reissue) lease subject to the rules and regnlatlans governing all State of Wyoming Oil & Gas Lease do not change the terms and conditions of the original lease, the lease anniversary date, nor the ohligatinns and anniversary date of the lease created therefro~n being considered as if it had been l::;soed on the effective date of the original lease. (See Board Roles, Chapter 6, Section A.) 8. Co,'pomtio~is, Ihnited liability companies, and limited parmerships mnst be qualified with tile Wyoming Secretary of Sta es O/lice, and general partnerslfip papers are required to be filed with tile State Land and Farm Loan ()ffice prior to, and as a conditioo of Board approval of any assignment. 9. Assignments will not be considered for approval where assignor or any assignee currently has a delinquent (late) royalty or cantal pa3qnent obligation(s) for any State subsurface resource lease.