HomeMy WebLinkAbout976290STATE OF WYOMING
COUNTY OF LINCOLN
ASSIGNMENT OF OIL AND GAS LEASES
976290 4/24/2014 2:55 PM
LINCOLN COUNTY FEES: $21.00 PAGE 1 OF 4
BOOK: 831 PAGE: 114 ASSIGNMENT
JEANNE WAGNER LINCOLN COUNTY CLERK
1111111111111111111111E11 IIM 11111E110 11 1111
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This ASSIGNMENT OF OIL AND GAS LEASES "Assignment dated effective the
7 day of March, 2014 "Effective Time is from Trail Energy, LLC a Utah Limited
Liability Company, whose address is 6029 W. Sage Fork Rd., West Jordan, UT 84081,
(hereinafter referred to as "Assignor to Landwell Energy Corp., a Wyoming corporation,
whose address is 1703 South Wheeling Way, Aurora, CO 80012, (hereinafter referred to as
"Assignee
For Ten Dollars and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Assignors hereby GRANTS, CONVEYS, SELLS and
ASSIGNS to Assignee, subject to the terms and conditions hereof, an undivided fifty percent
(50 interest in and to the oil, gas and other mineral leases as described on Exhibit "A"
attached hereto and made a part hereof (hereinafter referred to as the "Leases insofar as the
Leases cover and affect the lands described on Exhibit "A" (the "Lands
TO HAVE AND TO HOLD the Leases and Lands, together with all and singular the
rights and appurtenances thereunto in anywise belonging, unto Assignee, its successors and
assigns, forever, subject to the following terms and conditions:
1) Special Warranty of Title. Assignor warrants and shall defend title to the Leases and
Lands conveyed to Assignee against every person whomsoever claiming the Leases or
Lands or any part thereof by, through and under Assignor, but not otherwise.
2) Burdens. The interest herein conveyed is subject to, and Assignee hereby assumes its
proportionate share of all existing royalties, overriding royalties, and any other
burdens or encumbrances of record on the date hereof with respect to the Leases and
Lands herein assigned.
3) Reservation of Overriding Royalty Interest. Assignor hereby excepts and reserves
unto itself, its successors and assigns, a overriding royalty interest "ORRI on each
Lease herein assigned in a percentage equal to, one -half (1/2) the difference, if any,
between 20.0% and the aggregate of all royalties, overriding royalties and other
similar burdens on each such Lease of record on the date hereof of the gross proceeds
from the sale of all gas, condensate, casinghead gas, oil and other liquid and gaseous
hydrocarbons produced, saved and marketed from each Lease, which shall be paid to
Assignor free of all cost and expense of exploration, drilling, development and
operation, except its proportionate share of severance, ad valorem and other similar
taxes and except for and subject to its proportionate share of actual third party costs
incurred for gathering, transportation and marketing.
No overriding royalty interest shall apply to or be payable upon any gas, condensate,
casinghead gas, oil or other liquid or gaseous hydrocarbon used for operating,
developing or producing purposes on or in connection with the Lands, or in treating
products produced to make them marketable, or in recycling or repressuring
operations, or which are unavoidably lost. In the event a Lease covers less than all of
the oil and gas mineral rights in the Lands subject to the Lease or Assignor owns less
than the full working interest therein, the overriding royalty interest herein reserved
shall be reduced proportionately. It is the intent of Assignor and Assignee that this
Assignment convey to Assignee a net revenue interest in each Lease equal to the lesser
of 80.0 proportionately, reduced, or Assignor's actual net revenue interest in such
Lease at the Effective Time and subject to the ORRI.
4) Successors and Assigns. The terms, covenants and conditions contained in this
Assignment shall be binding upon and insure to the benefit of the parties hereto and
5) Further Assurances. Assignor and Assignee agree to take all such further actions and
to execute, acknowledge and deliver all such further documents that are necessary or
useful in carrying out the purpose of this Assignment including but not limited to
Bureau of Land Management and State of Wyoming assignment forms. Such separate
assignments shall be deemed to contain all of the exceptions, reservations, warranties,
right, titles, privileges and powers set forth herein as fully as though they were set
forth in each such assignment.
6) Joint Venture Agreement. This Assignment is subject to the terms and conditions of
that certain Joint Venture Agreement dated June 30, 2009 by and between Assignor
and Hunter Energy, LLC and as amended by Assignor and Assignee on April 12,
2013. To the extent of a conflict or inconsistency between the terms of this
Assignment on the one hand, and the terms of such Joint Venture Agreement as
amended on the other, the terms of the Joint Venture Agreement as amended shall
control.
7) Lesser Interest. If any Lease covers less than all of the oil and gas mineral rights in
the Lands subject to such Lease, then the interest herein conveyed shall be reduced in
proportion which the interest therein, if any, covered by such Lease bears to the whole
and undivided mineral estate therein.
STATE OF UTAH
COUNTY OF SALT LAKE
JON LAKASZCYCK
Notary Puibiic
State of Utah
Commission Number 582773
My Commission Expires May 24, 2014
their respective successors and assigns, and such terms, covenants and conditions shall
be covenants running with the Land and with each subsequent transfer or assignments
of the Leases and Lands, or any part thereof.
Executed on the date and year first referenced above.
TRAIL ENERGY, LLC
B
ACKNOWLEDGEMENT
tt 'han Baker, Landman
The foregoing Assignment was acknowledged before me on the day of
2014, by Jonathan Baker, who, being by me duly sworn did say that he is the
Landman for Trail Energy, LLC, a Utah Limited Liability Company, and that the instrument
was signed in behalf of the company and that he acknowledged the instrument to be the free
act and deed of the company.
GIVEN UNDER MY HAND AND OFFICIAL SEAL OF OFFICE on this day
of P�` ,2014.
Notar Public i and for the te�f Utah
My Commission Expires:.
2
STATE OF COLORADO
COUNTY OF Awl,pohae.
LANDWELL L''fl GY CORP.
By
Paul Cox, President
The foregoing Assignment was acknowledged before me on the j$ day of
IPr i 2014, by Paul Cox, who, being by me duly sworn did say that he is the President
for Landwell Energy Corp., a Wyoming Corporation, and that the instrument was signed in
behalf of the company and that he acknowledged the instrument to be the free act and deed of
the company.
GIVEN UNDER MY HAND AND OFFICIAL SEAL OF OFFICE on this 15 day
of ittpri 1 2014.
j Vtr
Public in and for the tate of Colorado
remission Expires: 10 116 12015
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