HomeMy WebLinkAbout876068 ASSIGNMENT; OF OVERRIDING ROYALTY INTERESTS
KNOW ALL MEN BY THESE PRESEN'f,:$ THAT:
In consideration of the sum of Te~ Dollars ($10.00) and other good and valuable consideration,
P~L EXPLOSION ~LC, a Wyoming Limited LiabiliN Company, at P. O. Box 5083, Denver,
Colorado 80217;5083, hereina~e? called "Assignor", does hereby assign, transfer and convey
the overriding royaIN interests aS'set fo~h below unto:
:~ If the total If the total
lease burden is lease burden is
, :, 18% ORR is: ** , 15%, ORR is: **
ROSE EXPLOSIONASSOCIATE~,'7 LLC., 1.40625% of 8/8ths 2.8125% of 8/8ths
A Colorado Limited LiabiliN ComPany
5~8- ~7th Street, Suite 1~ H30
Denver, CO 80202 '." :
P~ROTA LLC .1875% of 8/8ths .3750% of 8/8ths
P. O. Box 477
Williston, ND 58802
TOTAL 1.59375% of 8/8ths 3.1875% of 8/Sths
**Total lease burden depend on ~:.}efore and a~er payout options of the Ballerina ¢10-1 well
located in NW/4-1-T21N-Rll3W
hereina~er called "Assignee" in aii~d to all Oil, Gas and other minerals produced, saved ~d sold,
if, as and when produced, saved .~ind sold, but not othe~ise, from the lands set.out and
covered by the Oil and Gas Leas6s described as follows, and any e~ensions or renewals
thereof, hereina~er called the Lecse .
Lessor:
; ' Union Pacific Land ResoUrces Corporation.
Lessee: 7 Texaco Exploration & Production Inc.
Date: .:.:April 7,1998
Recording::5 Book419, Page 632 ,
. .
Descnpbon:~ Township 21 No~h, Range 113 West, 6th PN
' Section 1:N/2
,.~ From the surface of the each to the stratigraphic
;: Equivalent of 12,285 feet
. Lincoln CounN, Wyoming
Said Overriding RoyalN Interests shall also be assigned, transferred and conveyed as to the
interests earned by and be subjec'~ to all the terms and provisions of that ce~ain Farmout
Option Agreement dated July 16,~ 1997; and Farmout Agreement dated November 17, 1997, by
and be~een Union pacific Land ~.esources Corporation and Petral Exploration LLC, hereina~er
called the "Farmout lnterests".
,' ¢
Said Overriding Royal~ lnterests:3hall be free and clear of all development, production,
marketing and operating expense,s;; however, said interests shall bear and pay currently its
potion of gross production taxes,.: pipeline taxes, and all other taxes assessed against the gross
production subject to said Overriding RoyalN Interest. It is agreed that nothing herein
contained shall impose upon the Assignor, its heirs successors, or assigns, any du~ or
obligation to develop or operate the prope~ies covered by the described "Leases" in effect by
the p~,yment of delay rentals, sh~t-in royal~ payments or other similar payment.
It is understood and agreed that ~he Assignor shall have the right to pool the "Leases" and the
lands covered thereby, or any pa~:t thereof, with other lands and leases into volunta~ uni~, or
into uniN as established by any governmental authoriN having jurisdiction, and if said "Leases"
or any pa~ thereof are pooled acg:ordingly, then the Overriding RoyalN lnterest herein
conveyed shall be reduced in the'?~ropo~ion that the acreage burdened by said Overriding
RoyalN lnterest bears to all acrei~ge included in any such pooled unit.
.72
If the "Leases" and "Farmout :Interests" described herein cover a lesser interest in the oil, gas
and associated hydrocarbon substances than the entire undivided fee simple estate and/or
mineral estate therein, the Overriding Royalty :Interests assigned herein under such "Leases''
and "Farmout :[nterests" as to the lands described shall be reduced proportionately and shall be
payable only in .the proportion whlch the interests in the oil, gas and associated hydrocarbon
substances covered by said '~Lea~i;e'' and "Farmout :Interests" as to the lands described bears to
the entire and undivided fee simp!e estate. In addition, if the interest owned by Petrota LLC in
the "Leases" and '.'Farmout Interests" described herein is less than the full and entire interest in
said "Leases" and "Farmout :[nterests", the Overriding Royalty :[nterest conveyed to Petral
Exploration LLC herein is also redi~ced proportionately and is payable only in the proportion
which the interest owned by Petmta LLC in said "Leases" and "Farmout Interests" as to the
lands described bears to the full .~md entire interest in said "Leases" and "Farmout :Interests" as
to the lands described. '
This Assignment is made subject ',:o those certain Agreements: Contractor Agreement, effective
November 1, 1993, as amended, ~:)y and between Petral Exploration, LLC, and Rose Exploration
Associates, LLC and The Independent Contractor Agreement, effective February 9, 1994, by and
between Petrota, LLC and Petral '~-.'.xploration, LLC.
This Assignment of Overriding R0~!alty Interests is made without warranty of title, either
express or implied. ::
This Assignment shall be binding Upon and inure to the benefit of the respect parties hereto,
their heirs, successors, represent~tives.and assigns.
r'i
This Assignmen~ of Overriding Royalty :Interests replaces that Certain unrecorded and unfiled
previous Assignment of Overriding Royalty dated December 1st, 1999, has been misplaced and
assignment should not be construed to be additional interest and is not meant to be an
additional conveyance of interest. :}
IN W1-FNESS WHE,~EOF, the sa~ETRAL EXPLORATION LLC, as Assignor, executed this
instrument this/-c,> day of (~_./z~-~z~/-- ,200i, but effective date of first production
PETRAL EXPLORATION LLC,,
Ant:h'dny'R. M~er
ACKNOWLEDGEMENT
STATE OF COLORADO )
)ss,
COUNTY OF DENVER )
On this ./_5'/~ day of
'2001, before me personally appeared Anthony R. Mayer, to
me personally known, who?'beinfl by me duly sworn, did say that he is the President of Captiva
Resources, :[nc., as Manager of P.~;tral Exploration LLC, and that the seal affixed to said
instrument was signed and sealed:on behalf of Captiva Resources, :[nc., Manager of Petral
Exp!or~ti.on_.LLC.and said Anthony R. Mayer acknowledged said instrument to be the free act
and, d'e~At~',~id' corporation. '
~[$i;~;~'~d and seal this day of ~-/~, 2001.
$. L. Pacheco - Notary Public
::" ~:' P.O. BOX 5083
Denver, CO 80217-5083