The URL can be used to link to this page

Home My WebLink About938885 ru:,\"cl v I::U ;:)/::J/£uuo ell 1£.,);:) r-IVI Rf IJG # 938885 BOOK: 694 PAGE: 189 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ASSIGNMENT OF OVERRIDING ROYALTY INTEREST ÖOO1.89 KNOW ALL MEN BY THESE PRESENTS: THAT Intrepid Oil & Gas, LLC, a Colorado limited liability company ("Assignor"), 700- 1 ih Street, Suite 1700, Denver, Colorado 80202, for Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, does hereby assign, transfer and convey unto: Intrepid Production Corporation, a Colorado corporation 700 17th Street, Suite 1700 Denver, Colorado 80202 37,5% of2% ORRI Hugh E. Harvey, Jr, 700 17th Street, Suite 1700 Denver, Colorado 80202 37.5% of2% ORRI Robert J. Grundy 22226 Meadow view Road Morrison, Colorado 80465 25% of2% ORRI (collectively, "Assignees"), in the undivided shares set forth above, an overriding royalty interest (the "Override") in each of the oil and gas leases described in Exhibit A attached hereto (the "Leases"), and the land described on Exhibit A and any other lands covered by the Leases not described on Exhibit A (the "Land"), equal to two percent (2%) of all oil, gas and other minerals and substances of any kind produced, saved and sold from the land covered by the Leases or allocated thereto. The Override shall be free of all costs and expenses of exploration, development, production, and operation but shall bear its proportionate share of (i) any costs for dehydrating, purifying, treating, boosting, compressing, gathering, processing and transporting the production to the point of sale, to the extent and only to the extent that such costs may be deducted in determining the royalty share of production or proceeds thereof under the applicable Lease, and (ii) all taxes assessed on v00190 production or the proceeds of the sale thereof. The Override shall apply to any renewal or extension of any Lease which is taken by Assignor, its successors or assigns, within two (2) years after the expiration of the relevant Lease. Separate assignments of the interests assigned by this instrument may be executed on officially approved forms by Assignor to Assignees, in sufficient counterparts to satisfy applicable statutory and regulatory requirements. Those assignments shall be deemed to contain all of the exceptions, reservations, warranties, rights, titles, powers and privileges set forth herein as fully as though they were set forth in each such assignment. The interests conveyed by such separate assignments are the same, and not in addition to, the interests conveyed herein. Assignor, at its option, has the right and power at any time and from time to time as a recurring right, either before or after production, as to all or any part of the land described herein and as to anyone or more of the formations hereunder, to pool or unitize the leasehold estate and the mineral estate covered by the Leases with other land, lease or leases in the immediate vicinity for the production of petroleum substances, or separately for the production of any of them, when in Assignor's judgment it is necessary or advisable to do so, and irrespective of whether authority similar to this exists with respect to such other land, lease or leases. Likewise, units previously formed to include formations not producing petroleum substances may be reformed to exclude such non-producing formations. The forming or reforming of any unit shall be accomplished by Assignor executing and filing of record a declaration of such unitization or reformation which declaration shall describe the unit. Any unit may include land upon which a well has theretofore been completed or upon which operations for drilling have theretofore been commenced. In lieu of the Override elsewhere herein specified, Assignee shall receive on production from the unit so pooled Override only on the portion of such production allocated to the Leases; such allocation shall be that proportion of the unit production that the total number of surface acres covered by the Leases and included in the unit bears to the total number of surface acres in such unit. In addition to the foregoing, Assignor shall have the right to unitize, pool, or combine all or any part of the Lands as to one or more of the formations thereunder with other land in the same general area by entering into a cooperative or unit plan of development or operations approved by any governmental authority and, from time to time, with like approval, to modify, change or terminate any such plan or agreement. In the event that the Lands, or any part thereof, shall hereafter be operated under any such cooperative or unit plan of development or operation where the production therefrom is allocated to different portions of the Lands covered by said plan, the production allocated to any particular tract of Land shall, for the purpose of computing (:00191 the Override to be paid hereunder to Assignee, be regardèd as having been produced from the particular tract of Land to which it is allocated and not to any other tract of Land; and the Override payments to be made hereunder to Assignee shall be based upon production only as so allocated. Assignee shall fonnally express Assignee's consent to any cooperative or unit plan of development or operation adopted by Assignor and approved by any governmental agency by executing the same upon request of Assignor. Notices, reports and other communications required or permitted by this instrument to be given or sent by one party to the other shall, except where otherwise provided herein, be in writing and delivered by hand, or mailed couriered postage delivery prepaid, or transmitted by facsimile to the addresses as follows: Intrepid Production Company 700 17th Street, Suite 1700, Denver, CO USA 80202 Fax: 303-298-7502 Hugh E. Harvey, Jr. 700 1 th Street, Suite 1700 Denver, Colorado 80202 Fax 303-298-7502 Robert J. Grundy 22226 Meadow View Road Morrison, Colorado 80465 Fax 303-697-5894 Hand delivered notices shall be conclusively deemed to have been received when actually delivered if during a business day. If hand delivery is not during a business day such notice shall be conclusively deemed to have been received by addressee at the commencement of the next business day. If a notice is mailed couriered by prepaid postdelivery, it shall be conclusively deemed to have been received by the addressee on the fifth business day following the mailing couriering thereof. Notices transmitted by facsimile shall be conclusively deemed to have been received when actually delivered if during a business bay. If facsimile is not delivered during a business day such notice shall be conclusively deemed to have been received by addressee at the commencement of the next business day. This Agreement shall, in all respects, be subject to, interpreted, construed and enforced in accordance with and under the laws of the State of Wyoming and applicable laws of the United States of America and shall, in all respects, be treated as a contract made in the State of Wyoming. The (;00192 Wyoming and courts of appeal therefrom in respect of all matters arising out of or in connection with this Agreement. Each party irrevocably waives its right to a jury trial with respect to matters contained herein. The provisions hereof shall be covenants running with the land and shall extend to and be binding upon the parties hereto, their respective heirs, legal representatives, successors and assigns, and shall be deemed to be covenants running with the Land and Leases. IN WITNESS WHEREOF, this instrument is executed this 17th day of March, 2008. ASSIGNOR: / ayvaz III STATE OF COLORADO ) ) ss. COUNTY OF DENVER ) On this 17th day of March, 2008, before me the undersigned, a Notary Public in and for said County and State, personally appeared Robert P. Jornayvaz, III, know to be the Manager of INTREPID OIL & GAS, LLC a Colorado limited liability company, and he acknowledged and executed the above instrument as his voluntary act and deed and on behalf of said company. WITNESS my hand and official seal. My commission Expires: 9-27-2010 ~1lv--- Notary Public My Commission Expires 09/27/2010 I ü ~ « ::2 o W 1-0 «Z 0« en........ W~ eno «Z WC) ...J _ en en «en C)$ Oü Z...J «...J ...Jø . 0- « < C) = LLo(! I-0...J 001-- -ZO :tWO ><::2- WZc.. C)W -~ en I- enz «- LLZ olli ~~ «W c..cc «0 wz 0« «>- ::2cc o Z « o I- o W I ü Ë « ù-00193 ex) o o N ....... .... VI ~ VII 0 0 ... Q) 0 0 C)... 0 c:i ~ () N Q)« ex) .... Z éii W W Z C) ëi5 en ~ >- 0 Z ::> ~ C) -; - I- VI ~ Q) W ~ ~ W cc Z ..,. ..,. ~ 0 .... .... ~ .... .... en 0 ~ W ~ ~ Z c Z c Z « 1'0 1'0 W ~ W ~ ci Z en ...., ,c ,c ~ ;>: t W t 0 Z 0 Z W Z ~ Z ~ > Ll) Ll) ~ œj N Z N en « .Q ex) .£ 0> I ,c c ,c c W VI 0 VI 0 VI () c :u c :u I 1'0 VI 3= 3= C) Q) Q) 0 Q) 0 Q) ::> ...JO I- en I- en I Z Q) 0 - 1'0 ¡::: 0 ~ Q) > 0 :u c.. ~ ex) ~ ex) 0 W 0 0 0 0 ü Q) ~ ~ Z VI 0> 0> 1'0 0 Q) .... .... ¡::: ...J Ñ Ñ ü ::> 0 Q) Q) 0 :ë- :ë- ~ 1'0 C 1'0 C c.. o Q) o Q) 0 > E > E Q) Q) Q) Q) iï: ~ Q) ~ Q) W VI 6>0 VI 6>0 ~ ui 0 « ffi ui 0 « ffi I- OQ)~_"" oQ)'ê-.... Z .c,c VI_ .c,c...VI _ - ... E-02.... E-02.... Q) OÕ81-û) Oõ°l-- .c ° O...~ E ° Q) ...;:¡ 0Q)u.:~e> OQ) .Q)e> ;:¡ .2LL"C ;:¡ Z WÛ)VlC<¥ W~:ß§« Q) 2 Q) ;:¡ VI ¡gl-;-~û)~ Q)~L:-"C 1'0 æ'I'022 Q) .!!! ° ,c 2 (¡j '- o,c 1'0 ...J Oüül-"C Oüül-"C