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HomeMy WebLinkAbout877434 ASSIGNMENT OF OVERR:I'DI'NG ROYALTY INTERESTR KNOW ALL MEN BY THESE PRESENTS THAT: 3 3 In consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration, PETROTA LLC, P. O. Box 477, Williston, ND 58802, hereinafter called "Assignor", does hereby assign, transfer and convey the overriding .royalty interests as set forth below unto: If the total If the total lease burden is lease burden is 18% ORR is: ** 15%, ORR is: ** PETRAL EXPLORATION LLC .1875% of 8/8ths .3750% of 8/Sths P. O. Box 5083 Denver, CO 802:[7-5083 hereinafter called "Assignee" in and to all Oil, Gas and other minerals produced, saved and sold, if, as and when produced, saved and sold, but not otherwise, from the lands set out and covered by the Oil and Gas Leases described on Exhibit "A" and any extensionsor renewals thereof, hereinafter called the "Leases". Said Overriding Royalty Interests shall also be assigned, transferred and conveyed as to the interests earned by and be subject to all the terms and provisions of that certain Farmout Option Agreement dated July 16, 1997, and Farmout Agreement dated November 17, 1_997, by and. between Union pacific Land Resources Corporation and Petral Exploration LLC, hereinafter called the "Farmout Interests". Said Overriding Royalty Interests shall be free and clear of all development, production, marketing and operating expenses; however, said interests 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 heirs successors, or assigns, any duty or obligation to develop or operate the properties covered by the described "Leases" in effect by the payment of delay rentals, shut-in royalty payments or other similar payments. It is understood and agreed that the Assignor shall have the right to pool the "Leases" and the lands covered thereby, or any part thereof, with other lands and leases into voluntary units, or into units as established by any governmental authority having jurisdiction, and if said "Leases" or any part thereof are pooled accordingly,' then the Overriding Royalty Interest herein conveyed shall be reduced in the proportion that the acreage burd~r~ed by said Overriding Royalty Interest bears to all acreage included in any such pooled unit. 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 which the interests in the oil, gas and associated hydrocarbon substances covered by said "Lease" and "Farmout Interests" as to the lands described bears to the entire and undivided fee simple 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 Interests", the Overriding Royalty Interest conveyed to Petral Exploration LLC herein is also reduced proportionately and is payable only in the proportion which the interest owned by Petrota LLC in said "Leases" and "Farmout Interests" as to the lands described bears to the full and entire interest in said "Leases" and "Farmout Interests" as to the lands described. This Assignment of Overriding Royalty 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, representatives and assigns. $~ V:v]:~NES~vvHEREOF, tile said PETROTA LLC, as Assignor, executed this instrument this /z/~ day of [ ./~Z/Z~ /~ , 200:~, but effective August 1, 2001. -( CJ PETR,O~A LLC Dennis W. Yocki)6, Manager ACKNOWLEDGEMENT STATE OF COLORADO' ) ' )ss. '- : .. COUNTY OF DENVER .)3 U~ .~u~ L.t :> i": f i !'":i !: :i:':; ~//' '2001, before me personally appeared Dennis ~'. ~J~i~'~ t'0.'~me: p~]s,~nally known, On this day of(.~/Z&~ /, who,. being by me duly s~c~n, d~d say that he ~s the Manager of Petrota LLC, and.~h'~:U~e s.eal' aff.;~:~to sa~d instrU~e'nt~w.a~,signed and sealed on behalf of Petrota LLC and said Dennis W. Yockim' acknowledged said instrument tO ~b-e ]~l~..f~e~ iici' a'O..d deed of said corporation. /'i ':~""y ~ i e .~o ~ __L..- . . .... ' ~h.~.',-.;';~;~..:' ~b~ ' S.L. Pacheco- Notary Pubhc · .."- ~F c,O~' P.O. Box 5083 ~ :i.;~?~:~.~,:~;~r~' - Denver, CO 80217-5083 EXHZB]:T '.4' Attached hereto and made a part of that certain Assignment of Overriding Royalty l~nterests by And between Petrot~'-~LC a~d Petral Exploration LLC Lessor: Union Pacific Land Resources Corporation Lessee: Texaco Exploration & Production ]~nc. Date: September !7, 1998 Recording' Book 431, Page 349 6th. Description:~Tow. nship 2~. North, Range :[:L3 West, Section 9:E/2 Lincoln County, Wyoming **Total lease burdens depend on before and after payout options of the Ballerina #20~9 well located in NE/4 9~T21N-R:[13w. Lessor: Union Pacific Land Resources Corporation Lessee: Petral Exploration LLC Date: April 7, :[998 Recording: Book 419, Page 632 Description:Township 21 North, Range :[13 West, 6th P.M_ Section 1:N/2 Lincoln County, Wyoming **Total lease burdens depend on before and after payout options of the Ballerina #10-:[ well located in NW/4 1-T21N-R113W. Lessor: Union Pacific Land Resources Corporat!on Lessee: Texaco EXploration & Production Inc. Date: .July 14, :[998 Recording: Book 416, Page 135 Description:Township 21 North, Range :[13 West, 6th Section 3:E/2 Lincoln County, Wyoming **Total lease burdens depend on before and after payout options of the Ballerina #20-3 well located in. NE/4 3-T2:[N-R113W. Lessor: Union Pacific Land Resources Corporation Lessee: Texaco Exploration & Production ]:nc. Date: May 18, 1998~ Recording' Book 431, Page-342 Description:Township 21 North, Range 113 West, 6th PM. Section 3:W/2 Lincoln County, Wyoming **Total lease burdens depend On before and after payout options of the Ballerina #30-3 well located in SW/4 3-T2:[N-RI:[3W.