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HomeMy WebLinkAbout896665 RECEIVED ASSIGNMENT OF INTEREST IN 6IL AND OAS Lg~/~;0LI;! 00UNTY CLERK ' 26 T~S ASSIGNMENT OF INTE~ST IN OIL AND GAS LEASE (the~ ~s~gn~etit effective 12:01 a.m. October 18, 2003 (the "Effective Time"), is from EOG Resource~ln~,~'h Dela~r~3 co¢oration, whose mmhng address is 600 17'~' Street, Suite l l00N, Denver, Colorado 80202, ("Assignor"), to Westport Oil and Gas Colnpany, L.P., a Delaware limited pa~nership, whose mailing address is 1670 Broa4way,~ Suite 2800, Denver, Colorado 80202 ("Assignee"). For good and valuable consideration, the receipt and sufficiency of which are hereby ac~owledged, Ass~or hereby sells, ass~s, transfers, ~ants, bargmns, and conveys to Assi~ee the real and personal prope~ interests described below, located in Lincoln Count, Wyoming (the "Assigned Interests"):' ~: . 1. One ~undred percent (100%) of Assignor's right, title and interest in and to the Slate Creek ~1-11 well ("Test Well"), the material and equip~nent appuaenant thereto and Assignor's proportionate share of production therefrom, however, Assi~or shall retain an ovemding royal~ interest equal to the d~fference be~veen emshng leasehold burdens and twen~ percent (20%) of all od, gas, other minerals, condensate,:;and casinghead gas, produced and saved from the Slate Creek ~1-11 well. At such time as Assignee notices Assignor that Payout has occu~ed in the Slate Creek ~1-11 well, Assi~or may elect to accept a ;vorhng interest equal to twenty-five percent (25%) in said well material and equipment appurtenant thereto and productmn therefi-om. If Assignor does not make a focal electron, then the absence of an electioq shall be deemed an elect~on by Assi~or to accept the working ~nterest described ~n this para~aph. Payo¢t and other te~s related thereto are as defined in that Fa~out A~eement dated July 24, 2003, by and beBveen EOG Resources, ~c. and Westport Oil and Gas Company, L.P. (the Agreement ). 2. Conch~ent rights of in,ess and egress to the Test Well, and in and to the surface rights held by Assi~or in c[nnection with ownership or operation of the Test Well. & . 3 Ri'gh to all contracts, agreements and instruments to the extent only that they relate to or afl~ct the Assigned ~terests. TO HAVE ~ TO HOLD the Assigned ~terests unto Assi~ee and its successors and assi~s forever. ~] t This Assi~men is made and accepted expressly subject to the following te~s and conditions: 1 A. THIS~AsSIG~ENT IS M~E WITHOUT W~NTY OF A~ K~, EXP~SS, ~PLIED OR STATUTORY EXCEPT THAT ASSIGNOR W~TS THAT T~LE TO THE ASSIGNED ~TE~STS IS F~E A~ CLE~ OF A~ LIENS AND ENC~B~NCES C~ATED BY, THROUGH OR ~ER ASSIGNOR WITH THE EXCEPTION OF ROY~TY, OVE~G ROYALTY ~ OTHER BU~ENS OF ~CO~ AS OF THE EFFECT~E T~E. B. Assignee agrees to perform all obligations, express or implied, of Assignor under the leases insofar as such obligations are applicable to the Assigned Interests. C. The references herein to liens, encumbrances, burdens, defects and other matters shall not be deemed to ratify or create any rights in third parties or merge with, modify or limit the rights of Assignor or Assignee as between themselves, as set forth in the Agreement. D. Separate governmental forms of assignment of the Assigned Interests shall be executed on officially approved forms by Assignor to Assignee, in sufficient counterparts to satisfy applicable statutory and regulatory requirements. Those assignments shall be deemed to contain all of the exceptmns, reservations, warranties, rights, titles, power and privileges set forth herein as fully as though they were set forth in such assignment. The' interests conveyed in such separate assignments are the same, and not in addition to, the Assigned Interests conveyed herein. E. This Assignment binds and Inures to the benefit of Assignor and Assignee and their respective successors and assigns. } F. This Assignment may be executed in counterparts, each of which shall be deemed to be an original instrument, but all of which together shall constitute but one instrument. EXECUTED on the dates contained in for all purposes as of the Effective Time. the acknowle~dgments of this Assignment to be effective ASSIGNO/R]: J. Michael ~c ~wee~ ~ ASSIGNI~:Agent and~kl orne[ il Fact OIL WESTPORT AND GAS COMPANY, L.P. By: David R. Dix Title: At torney-in-Fac t Acknowledgements 228 STATE OF' COLORADO ) ) ss CITY AND COUNTY OF DENVER ) Onthe20-fh dayof NJox/ember' , 2003, personally appeared before me J. Michael Schween, who, being duly sworn, did say that he is the Agent and Attorney in Fact for EOG RESOURCES, INc. and that said instrument was signed on behalf of said corporation. WITNESS my hand and official seal. S: N~ary Public ~ Residing at: 600 17th Street, Suite ll00N Denver, CO 80202 STATE OF COLORADO ) ) ss CITY AND COUNTY OF DENVER ) On the I qBt day of l~e_.e_.e.m~ e.~r" ,2003, personally appeared before me D(lttt'tL ~. ~ iX , who, being duly sworn, did say that he is the Attorney in Fact for WESTPORT OIL AND GAS COMPANY, L.P. and that said ~nstmment was signed on behalf of' said limited partnership. WITNESS my hand and official seal. Commission Expires 08/07/2004 Notary Public ~t Residing at: 1670 Broadway, Suite 2800 Denver, CO 80202 EXHIBIT "A" ATTACHED TO AND MADE A PART OF ASSIGNMENT OF INTEREST IN OIL AND GAS LEASE 229 Federal Oil and Gas Lease WYW-122223 TOWNSHIP 23 NORTH, RANGE 112 WEST, 6TM P.M. Section 11:SE/4SW/4 (only as it pertains to the "Test Well", described below) Containing 40.00 acres, more or less Lincoln County, Wyoming Lmited to those depths from the surface of the earth to the stratigraphic equivalent of 100 feet below the base of the Frontier formation as encountered at 11,431 feet in the Slate Creek # 1 ~ 11 well, located in the SE/4SW/4 Section 11, T23N-R112W This Assigmnent of Interest is further limited to Assignor's right, title and interest in and to the Slate Creek #1-11 well ("Test Well"), the material and equipment appurtenant thereto and Assignor's proportionate share of production therefrom, and subject to all the terms and conditions described in this Assignment of Interest in Oil and Gas Lease.