HomeMy WebLinkAbout949698CONVEYANCE OF TERM OVERRIDING ROYALTY
This Conveyance of Term ORR, made this day of June, 2009, by and between Hunter
Energy LLC, a Delaware limited liability company, 8000 S. Chester Street, Suite 375, Centennial,
CO 80112, hereinafter called Assignor and Arkoma Production Company of Texas, Inc., 5950
Berkshire Lane, Suite 1400, Dallas, TX 75225 and Triangle USA Petroleum Corporation, 521
Third Avenue S.W., Suite 1250, Calgary, AB, Canada T2P 3T3, hereinafter collectively called
Arkoma, Triangle or Assignee(s).
Assignor, named above, owns certain overriding royalty interests in Oil, Gas and Mineral
Leases (the "Leases") covering lands in Lincoln and Uinta Counties, Wyoming (the "Lands"). The
Leases and Lands are described on Exhibit "A" to this Conveyance.
For adequate consideration, the receipt and sufficiency of which is hereby acknowledged,
Assignor transfers, bargains, sells, assigns, transfers and conveys to Assignees, in the percentages
indicated below limited Term Overriding Royalty interest equal to 0.6671% of 8/8ths (.006671) (the
"Term ORR") in all of the oil, gas, and other minerals produced, saved, and marketed from all of the
Lands and Leases payable solely out of the gross proceeds, saved, and sold in an amount equal to an
aggregate of $ 1,044,040.00 calculated with respect to all the Lands and Leases as a group, but only
for a term until the Assignees together have received a total of $ 1,044,040.00.
The Term ORR Assigned to Assignee is subject to the following provisions:
1. The payment shall be paid to Assignee in the following shares:
Assignee % share
Arkoma 66.67%
Triangle 33.33%
2. The terms and provisions of the Leases, any amendments, corrections, additions, or
modifications of the Leases made prior to or after the execution of this Assignment. Assignee
agrees that future amendments, corrections, additions, or modifications of the Leases may be made
without the consent or joinder of Assignee.
3. All applicable laws, rules, regulations, and orders of appropriate governmental
authorities and agencies having jurisdiction over the Lands and Leases.
4. The Override is assigned free and clear of all cost and expense of exploration,
drilling, development and operation, but except for and subject to its proportionate share of actual
third party costs incurred for gathering, transportation and marketing, and its proportionate share of
severance, ad valorem and other similar taxes. No payments to the Override will be made or shall
accrue on any oil, gas and casinghead gas or other hydrocarbon substances or minerals used for
operating, developing, or producing purposes on the Lands under the Leases, or in treating the
products produced to make them marketable, or which are unavoidably lost. No payments shall be
made to the Override on gas and casinghead gas used for recycling or repressuring operations that
benefit the Leases.
5. If a Lease or Leases cover less than the entire mineral estate in the Lands, or, if for
any reason title should fail as to all or part of the leasehold estate owned by Assignor, the Override
assigned to Assignee shall be reduced proportionately as to the affected Lease and Lands.
6. Effective at such time as the Override payable from any of the Lands and Leases has
paid Assignees together an amount equal to $ 1,044,040.00, the Term ORR shall expire and
terminate as to all the Lands and Leases. Trail Energy, LLC, as Operator of the Leases, it's
successors or assigns shall administer or cause the administration of the payout of the Term ORR.
Upon such termination Assignor shall execute and record an Affidavit of Termination of Term ORR
in the County records to provide notice.
RECEIVED 9/25/2009 at 12:43 PM
RECEIVING # 949698
BOOK: 732 PAGE: 561
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
vvv562
The terms and provisions of this Assignment shall inure to the benefit of Assignor and
Assignee and to their heirs, legal representatives, successors, and/or assigns.
IN WITNESS WHEREOF, Assignor has executed and delivered this overriding royalty
assignment to Assignee, the day and year first above written.
Hunter Energy LLC - Assignor
By
P. Greg es, President
STATE OF COLORADO }
} ss.
COUNTY OF ARAPAHOE }
The foregoing instrument was acknowledged before me this A- day of , 2009, by
P. Greg _Barnes, President of Hunter Energy LLC, a Delaware limited liability company.
WITNESS my hand and official seal.
My Commission Expires:
t~ 0~01t9NhNdrEfll!/
8
Notary Public ~ : X10 T A ~~y'
%...'o .,.u8 sac ~ .
•Y~p~~~~,JA~~fFI 1 11ol1
.6E30-'-. KENIETHA DAWN BUTLER
i, )TARY PUBLIC
I!$; tear of Texas
'e; ° ~~'omrn. Exrn. 09-22-2009
STATE OF TEXAS }
} ss.
COUNTY OF DALLAS }
Arkoma Production Company of Texas, Inc. -
Assignee
By
The foregoing instrument was a knowledged before me this 10'1'~day of 2009, by
of Arkoma Production Company of Texas,
a Texas corporation.
WITNESS my hand and official seal.
My Commission Expires: i }Q a y ~ ~r~~~~
Notary Public
A Petroleum Corporation - Assignee
ACKNOWLEDGMENT
PROVINCE OF
kaheegoing instrument was acknowledged before me this kl,4 day of
, 2009, Q
by ~T-K pp"/~IL1 _&ye (1^ocY~ of Triangle USA
Petroleum Corporation.
My Commission Expires: Ne " V Idid
{
My Appointment
r expires
r~ December 31, 2010 ;
Public
Trail Energy, LLC -Administrator
Y
STATE OF UTAH )
ss.
COUNTY OF SALT LAKE )
The foregoing instrument was acknowledged before me this day of S&7w,. nn,
2009, bytl,,.k~&crr. , as lylApjAkn~ of Tr it Energy, LLC on behalf of said limited
liability company.
My Commission Expires: otary Public
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