HomeMy WebLinkAbout923525
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STATE OF WYOMING
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RECEIVED 10/19/2006 at 3:23 PM
RECEIVING # 923525
BOOK: 637 PAGE: 604
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
COUNTY OF LINCOLN
ASSIGNMENT OF OIL AND GAS LEASES
KNOW ALL MEN BY THESE PRESENTS:
THAT. HALLADOR PETROLEUM COMPANY, whose address is 1660 Lincoln Street, Suite 2700, Denver, Colorado
80264 herein called "Assignor," in consideration of Ten Dollars ($10.00) and other good and valuable consideration
to it in hand paid, the receipt and sufficiency of which are hereby acknowledged, does hereby ASSIGN, TRANSFER.
SELL. SET OVER and CONVEY unto Baseline Minerals, Inc., whose address is 1645 Court Place, Suite 422,
Denver, Colorado 80202, its successors and assigns hereinafter referred to as Assignee. all of Assignors right, title
and interest in and to those certain Oil and Gas Leases located in Lincoln County, Wyoming, more particular1y
identified and described as follows:
SEE A IT ACHED EXHIBIT" A"
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ASSIGNOR reserves to itself. its successors and assigns, an overriding royalty interest of an undivided 2.333333%,
in and to all of the oil. gas and other hydrocarbons produced, saved and sold from the assigned interest in said
leases during the tenns thereof, including any extensions or renewals of said leases. It is the intent of the parties that
an 81% NRI is delivered to Assignee. Said overriding royalty interest shall be free of all development, production.
operating expenses and post production costs. Said overriding royalty interest shall be computed and valued in the
same manner and shall be subject to the same allowable deductions as would a royalty valued under the federal
regulations; except. however. said interest shall bear and pay currently its portion of gross production taxes, pipeline
taxes. and all other taxes assessed against the gross production subject to said overriding royalty interest. It is
agreed that nothing herein contained shall impose upon the Assignor, its successors or assigns, any duty or
obligation to develop or operate the property covered by the Leases for oil, gas or other hydrocarbons, nor to
maintain the Leases in effect by the payment of delay rentals.
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In the event said Leases cover less than the entire fee simple mineral interest or if Assignor owns less than
100% of the leasehold working interest in said Leases. the overriding royalty interest herein assigned shall be
reduced proportionately.
THIS Assignment is made without warranty or recourse of any kind. expressed or implied, and is made
subject to all existing royalties, overriding royalties and any other lease burdens, which shall be borne by Assignee to
the extent of the interest herein assigned.
This instrument and all the tenns. covenants, conditions and reservations herein contained shall be binding
upon and inure to the benefit of Assignor and Assignees, their respective successors and assigns, and shall be
deemed covenants running with the leasehold, estate and interest assigned hereby.
2006.
IN WITNESS WHEREOF, Assignor has caused this instrument to be executed on the 16111 day of October
By:
V' P. io
C ef Executive Officer and President
AKNOWLEDGEMENT
STATE OF COLORADO 1
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COUNTY OF DENVER J
This instrument was acknowledged before me this -1.ID!L day of October 2006. by Victor P. Stabio, Chief Executive
Officer and President of Hallador Petroleum Company.
s~
Ja e S ers, Notary Public
16 ncoln Street. Suite 2700
Denver. Colorado 80264
JANE SANDERS
NOTARY PUBLIC
STATE OF COLORADO
My Corrvnission Expires 0610712007
My Commission Expires: June 7, 2007
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