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ASSIGNMENT OF AFTER PAYOUT WORKING IN~EREST
RECEIVEq..6/15/2007 at 11 :01 AM
STATE OF WYOMING) RECEIYING # 930372
)§ BOOK: 6~2 PAGE: 100
COUNTY OF LINCOLN) JþANNE WAGNER
,LI.t.;g,QLtLCOUNTY CLERK, KEMMERER, WY
This ASSIGNMENT OF AFTER PAYQUT WORKING INT~REST, by and between
PALACE EXPLORATION COMPANY, 5 East 59th Street, 5th Floor, New York, New York
10022, hereinafter referred to as ("Assignor") and ZENECO, INC.,161 00 S. Yale Ave., Suite
1700, Tulsa, Oklahoma 74136, hereinafter referred to as ("Assignee"~.
For and in consideration of the sum of Ten Dollars ($1 0.00) a~d other good and valuable
consideration, the receipt and sufficiency of which is hereby acknCDwledged, Assignor does
herein grant, bargain, sell, transfer, assign and convey unto ~ENECO, INC. its legal
representatives, successors and assigns, effective upon "Payout" a~ such term is hereinafter
defined, five percent (5%) of Assignor's working interest, in and Ito the oil and gas leases
described in the attached Exhibit "A", in and to any well located therecm, on a well by well basis.
For the purposes hereof "Payout" shall be defined as the point in ti~e when the revenue from
the sale of production from a well located upon the above described ~iI and gas leases accruing
to the working interest of Assignor, after deduction of royalty, D1verriding royalty interests
assigned as of the date hereof, and severance and production taxes equals the cost incurred by
Assignor of drilling, completing, equipping and operating such well tol that point in time.
The lease acreage hereby is assigned by the Assignor and a~cepted by ZENECO, INC.
subject to the royalties and/or other burdens out of or with respect to production with which said
lease acreage is encumbered, and subject to any agreements und~r which it may have been
acquired by Assignor. ZENECO, INC. hereby assumes and agrees tc!> pay its proportionate part
of each of said burdens to the extent that they are a part or rem~in a burden on the lease
acreage herein assigned and to comply with the terms of any agreemènts under which the lease
acreage may have been acquired. If the above referenced oil and gas leases cover less than
the entire undivided mineral estate in the described lands and/or if A~signor owns less than all
interest in and to said oil and gas leases, then the interests ~erein assigned shall be
proportionately reduced.
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This Assignment is made without warranty of title either expre¡s or implied.
IN WITNESS WHEREOF this Assignment is executed 'tfJ'¡'# ~, 2007,
effective for all purposes as of June 30, 2006.
however,
Assignor:
PALACE EXPLORATION COMPANY
Assignee:
ZENECO, INC.
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By:
Zinke, President
STATE OF NEW YORK
COUNTY OF NEW YORK
)
) §.
)
BEFORE ME, the undersigned, a Notary Public in and for said County an1d State, on this ~ day of
trlrg. 2007, personally appeared Paul A. Howard, to me known to be the identical person who
subscribe the name of Palace Exploration Company to the foregoing instrum~nt as its Vice President and
acknowledged to me that he executed the same as his free and voluntary act and de I d and as the free and voluntary
act and deed of such Corporation, for the uses and purposes therein set forth.
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GIVEN under my hand and seal the day and year last above written.
IAOI'\ eÞtftWII:
Notary fJt4)Iç, State of New York
No. 31-4989000
. '. Qualified In New York County
"IIGmmisslOn expires JUly 9. 2P;..lJ..
Hams Fork AMI & 3D Prospect #1267
APO WI Anadarko Leases
Page 10f4
STATE OF OKLAHOMA )
) §.
COUNTY OF TULSA )
BEFORE ME, the undersigned, a Notary Public in and for said County aid State, on this ~ day of
<Jl.tf\.t» 2007, personally appeared Robert M Zinke, to me known to be the identical person who
subscribed the name of Zeneco, Inc. to the foregoing instrument as its President and acknowledged to me that he
executed the same as his free and voluntary act and deed and as the free and ~oluntary act and deed of such
Corporation, for the uses and purposes therein set forth.
000101
GIVEN under my hand and seal the day and year last above written.
. ~1a!Y~HREN
S"'otacL
TULSA COUNTY
='IIIon.01014024
I: August 20. 2009
Hams Fork AMI & 3D Prospect #1267
APO WI Anadarko Leases
Page 2 of4
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