HomeMy WebLinkAbout906752CHAVES COUNTY, NEW MEXICO
EDDY COUNTY, NEW MEXICO
LEA COUNTY, NEW MEXICO
GRANT COUNTY, OKLAHOMA
STEPHENS COUNTY, OKLAHOMA
CROOK COUNTY, WYOMING
LINCOLN COUNTY, WYOMING
ATASCOSA COUNTY, TEXAS
MONTGOMERY COUNTY, TEXAS
NOLAN COUNTY, TEXAS
NUECES COUNTY, TEXAS
OLDHAM COUNTY, TEXAS
POTTER COUNTY, TEXAS
SMITH COUNTY, TEXAS
RECEIVED 2/28/2005 at 11:55 AM
RECEIVING # 906752
BOOK: 579 PAGE: 689
JEANNE WAGNER
LINCOLN. .COUNTY CLERK, KEMMERER, WY
FIRST AMENDMENT TO DEED OF TRUST, MORTGAGE, SECURITY AGREEMENT,
ASSIGNMENT OF PRODUCTION AND FINANCING STATEMENT
(As-Extracted Collateral including, oil, gas and minerals)
[Corkran Energy, LP]
Dated as of February 8, 2005
Please return documents with filing information to:
James R. Leeton, Jr.
Morgan & Leeton, P.C.
306 West Wall, Suite 700
Midland, Texas 79701
THIS FIRST AMENDMENT TO DEED OF TRUST (INCLUDING FINANCING STATEMENT) IS
TO BE FILED FOR RECORD IN TI-[E REAL ESTATE RECORDS.
THIS INSTRUMENT CONTAINS AFTER-ACQUIRED PROPERTY PROVISIONS, SECURES
PAYMENT OF FUTURE ADVANCES AND COVERS PROCEEDS OF COLLATEIC4L.
THIS INSTRUMENT CONTAINS A NOTICE OF SECURITY INSTRUMENT AFFECTING REAL
PROPERTY IN EACH COUNTY IN WHICH IT IS RECORDED.
THIS INSTRUMENT COVERS "OTHER INDEBTEDNESS" AS DEFINED IN SECTION 1.3 OF
THE ORIGINAL OIL AND GAS DEEDS OF TRUST AND IS TO BE TREATED AS A "LINE OF
CREDIT MORTGAGE" WITHIN THE MEANING OF SECTION 48-7-4, N.M.S.A. 1978.
THIS INSTRUMENT SHALL BE EFFECTIVE .AS, AMONG OTHER THINGS, A SECURITY
AGREEMENT AND FINANCING STATEMENT UNDER THE UNIFORM COMMERCIAL CODE.
COLLATERAL INCLUDES FIXTURES AFFIXED TO, AS-EXTRACTED COLLATERAL
(INCLUDING OIL, GAS AND OTHER MINERALS) PRODUCED FROM AND ACCOUNTS
ATTRIBUTABLE THERETO, SAID PRODUCTION AND ACCOUNTS BEING FINANCED AT
THE WELLHEAD OF THE WELLS LOCATED ON THE PROPERTYES DESCRIBED IN EXHIBIT
"A" TO THE ORIGINAL OIL AND GAS DEED OF TRUST, WHICH OIL AND GAS LEASES AND
LANDS AND DESCRIPTIONS THEREOF ARE INCORPORATED HEREIN BY REFERENCE
AND ADDITIONAL PROPERTIES DESCRIBED IN EXHIBIT "A" ATTACHED HERETO AND
MADE A PART HEREOF.
A POWER OF SALE HAS BEEN GRANTED IN THIS INSTRUMENT. A POWER OF SALE MAY
ALLOW THE TRUSTEE, BENEFICIARY OR LENDER TO TAKE THE MORTGAGED
PROPERTY AND SELL IT WITHOUT GOING TO COURT IN A FORE CLOSURE ACTION UP ON
DEFAULT BY THE GRANTOR UNDER THIS INSTRUMENT.
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY
REMOVE OR STRIKE ANY OF THE FOI,I ,OWING INFORMATION FROM THIS INSTRUMENT
BEFORE IT IS FILED FOR RECORD IN TI-IrE PUBLIC RECORDS: YOUR SOCIAL SECURITY
NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
0690
" '
FIRST AMENDMENT TO DEED OF TRUST, MORTGAGE, SECURITY
AGREEMENT, ASSIGNMENT OF PRODUCTION AND FINANCING STATEMENT
(A POWER OF SALE HAS BEEN GRANTED IN THIS MORTGAGE. A POWER OF
SALE MAY ALLOW THE TRUSTEE, BENEFICIARY OR LENDER TO TAKE THE
MORTGAGED PROPERTY AND SELL IT WITHOUT GOING TO COURT IN A
FORECLOSURE ACTION UPON DEFAULT BY THE GRANTOR UNDER THIS MORTGAGE).
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU
MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS
INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS- YOUR
SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
This First Amendment to Deed of Trust, Mortgage, Security Agreement, Assignment of
Production and Financing Statement dated February 8, 2005, ("First Amendment" or "First
Amendment to Deed of Trust") is from CORKRAN ENERGY, LP, a Texas limited partnership,
whose General Partner is Hummingbird Investments, LLC, a Texas limited liability company,
whose address is 2219 Westlake Drive, Suite 120, Austin, Texas 78746 and whose organizational
number is 14341310, herein called the "Grantor" and/or "Mortgagor"), to ROBERT D.
SOUTHERLAND, Trustee, whose address is P. O. Box 3903, Midland, Midland County, Texas
79702 (hereinafter called the "Trustee") for the benefit of COMMUNITY NATIONAL BANK
whose address is P. O. Box 3903, Midland, Texas 79702 (hereinafter called the "Beneficiary" and/or
"Lender").
WHEREAS, Grantor (herein sometimes called the "Borrower") executed (a) a Term
Promissory Note dated June 28, 2004 in the original principal amount of $1,968,000.00 payable to
Lender on or before January 28, 2006 ("June 2004 Term Note") and (b) a Revolving Line of Credit
Note dated June 28, 2004 having a face amount of $1,500,000.00 payable to Lender on or before
January 28, 2006 ("June 2004 Line of Credit Note', and when taken with the June 2004 Term Note,
hereinafter referred to collectively as "June 2004 Notes"), which June 2004 Notes are secured by a
Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement
dated June 28, 2004 from Grantor to Robert D. Southerland, Trustee for the benefit of Beneficiary
(the "Original Oil and Gas Deed of Trust") recorded in the Volume and Pages of the respective
County Clerks' offices and/or Offices of the Recorder set out in Schedule I, attached hereto and made
a part hereof, covering those certain leases, lands and other oil and gas properties along with
equipment located thereon and proceeds derived therefrom described in Exhibit "A" attached to the
Original Oil and Gas Deed of Trust, which leases, lands and other oil and gas properties along with
descriptions thereof are incorporated herein by reference ("Previously Mortgaged Properties"); and
WHEREAS, Borrower has or will execute (a) a Revolving Line of Credit Note dated
February 8, 2005 having a face amount of $1,000,000.00 payable to Beneficiary ("February 2005
Line of Credit Note") and (b) a Term Promissory Note dated February 8, 2005 in the original
principal amount of $2,000,000.00 payable to Beneficiary ("February 2005 Term Note" and when
taken with the February 2005 Line of Credit Note, hereinafter referred to collectively as "February
2005 Notes"), which February 2005 Term Note renews, extends and increases the June 2004 Term
Note described above; and
WHEREAS, in consideration of COMMUNITY NATIONAL BANK advancing additional
funds to Borrower, Grantor agrees to mortgage and pledge to COMMUNITY NATIONAL BANK
additional leases and lands located in Eddy County, New Mexico described in Exhibit "A" attached
hereto and made a part hereof; and
WHEREAS, the parties desire to amend the Original Oil and Gas Deed of Trust (herein
sometimes referred to as "Oil and Gas Deed of Trust") by this instrument so as to (a) ratify and
confirm that the liens created by the Oil and Gas Deed of Trust secure not only the June 2004 Notes
described above but also the February 2005 Notes set out above, (b) to amend Section 1.3 (a) and
(b) of the Oil and Gas Deed of Trust to include the language set out below, (c) to supplement the
Exhibit "A" to the Oil and Gas Deed of Trust so as to include the additional leases and lands
described in Exhibit "A," attached hereto, as Mortgaged Properties to the Oil and Gai Deed of Trust
and (d) to otherwise conform the terms of the Oil and Gas Deed of Trust to the February 2005 Notes.
NOW THEREFORE, in consideration of the premises set out above by COMMUNITY
NATIONAL BANK to the Grantor, the receipt and sufficiency of which is hereby acknowledged,
COMMUNITY NATIONAL BANK and CORKRAN ENERGY, LP, a Texas limited
partnership, herebyrenew, extend, amend, continue and supplement the Oil and Gas Deeds of Trust
as follows:
SECTION I
Amendment to Section 1.3(a) and (b) of the Oil and Gas Deed of Trust
Section 1.3(a) and (b) of the Oil and Gas Deed of Trust are hereby amended in their entirety
to read as follows:
(a) All indebtedness and other obligations now or hereafter incurred or arising
pursuant to the provisions of that certain Restated Loan Agreement dated February 8, 2005,
among Grantor and COMMUNITY NATIONAL BANK, whose address is P.O. Box 3903,
Midland, Midland County, Texas 79702 (herein called "Lender"), and all supplements
thereto and amendments or modifications thereof, and all agreements given in substitution
therefor or in restatement, renewal or extension thereof, in whole or in part (such Loan
Agreement as the same may from time to time be supplemented, amended or modified, and
all other agreements given in substitution therefor or in restatement, reneWal or extension
thereof, in whole or in part, being herein called the "Agreement");
(b) Three promissory notes dated (i) June 28, 2004 having a face amount of one
million five hundred thousand dollars ($1,500,000.00) as modified by that certain First
Modification of Note dated February 8, 2005, (ii) June 28, 2004 in the original principal
amount of one million nine hundred sixty-eight thousand dollars ($1,968,000.00) as renewed
and extended by that certain Promissory Note dated February 8, 2005 in the original principal
amount of two million dollars ($2,000,000.00) and (iii) February 8, 2005 having a face
amount of one million dollars ($1,000,000.00) all of which are made by Grantor and payable
to the order of Lender on or before January 28, 2006, bearing interest as therein provided,
and containing a provision for the payment of a reasonable additional amount as attorneys'
fees, and all other notes given in substitution or replacement therefor or in modification,
renewal or extension thereof, in whole or in part (such note(s), as from time to time
supplemented, amended, or modified and all other notes given in substitution or replacement
therefor, or in modification, renewal or extension thereof, in whole or in part, being
hereinafter called the "Note" and Lender and each subsequent holder of the Note or any part
thereof or interest therein, or any of the other secured indebtedness being herein called
"Noteholder");
SECTION II
Mortgage of Additional Property and Ratification and
Reaffirmation of Oil and Gas Deed of Trust
To secure and enforce the obligations (as defined in the Original Oil and Gas Deed of Trust)
Grantor, for and in consideration of the sum of Ten Dollars ($10.00) cash and other good and
valuable consideration in hand paid to Grantor, the receipt and sufficiency of which are hereby
acknowledged and for and in consideration of the debt and trusts hereinafter mentioned has
GRANTED, BARGAINED, SOLD, ASSIGNED, TRANSFERRED AND CONVEYED and by
these presents does GRANT, BARGAIN, SELL, ASSIGN, TRANSFER AND CONVEY unto
Robert D. Southerland, Trustee, for the benefit of COMMUNITY NATIONAL BANK and to the
Trustee's Successors or Substitutes in Trust all of Grantor's right, title and interest, whether now
owned or hereinafter acquired, in and to the Mortgaged Properties (as defined in the Oil and Gas
Deed of Trust) not heretofore released, previously described in the Exhibit "A" to the Original Oil
and Gas Deed of Trust, which leases, lands and other oil and gas properties and descriptions thereof
are incorporated herein by reference and additional leases, lands and other oil and gas properties
described in Exhibit "A," attached hereto.
SECTION III
Warranties, Covenants and Aereements
The warranties, covenants and agreements contained in the Original Oil and Gas Deed of
Trust are hereby remade by the Grantor and said warranties, covenants and agreements (together with
the remedies contained in the Original Oil and Gas Deed of Trust) are in full force and effect as of
the date hereof and shall apply to the Mortgaged Properties described in the Exhibit "A" to the
Original Oil and Gas Deed of Trust, which Previously Mortgaged Properties and descriptions thereof
are incorporated herein by reference and in Exhibit "A," attached hereto, to the same extent and with
the same force and effect as of the date of the Original Oil and Gas Deed of Trust.
SECTION IV
Miscellaneous Provisions
Section 4.1 This First Amendment shall be considered as an amendment and supplement
to the Oil and Gas Deed of Trust and except as herein expressly amended and supplemented, the Oil
and Gas Deed of Trust is hereby ratified, approved and confirmed in every respect and all references
to the Oil and Gas Deed of Trust and in any other document shall hereinafter be deemed to refer to
the Oil and Gas Deed of Trust as amended hereby.
Section 4.2 With respect to all personal property constituting a part of the Mortgaged
Properties, this First Amendment shall also be effective as an amended chattel mortgage and/or
security agreement.
Section 4.3 Except as amended hereby, the Oil and Gas Deed of Trust shall remain in full
force and effect. Nothing in this First Amendment releases any right, claim, lien, security interest
or entitlement of the Trustee or Beneficiary created by or contained in the Oil and Gas Deed of Trust
nor releases the Grantor from any covenant, warranty or obligation created by or contained in the Oil
and Gas Deed of Trust.
Section 4.4 The indebtedness evidenced by the February 2005 Term Note is in renewal
and extension of the June 2004 Term Note and the indebtedness evidenced by the February 2005
Line of Credit Note is in addition to the June 2004 Notes described above and nothing contained
herein shall be deemed to release or terminate any liens or security interest which secures payment
of such June 2004 Notes.
Section 4.5 The Oil and Gas Deed of Trust as amended hereby contains after-acquired
property provisions and secures future advances. This First Amendment supplements the Oil and
Gas Deed of Trust and is a supplemental Deed of Trust and Mortgage of both real and personal
property, a supplemental security agreement, a supplemental assignment of production and a
financing statement and also covers proceeds and fixtures. This First Amendment shall be effective
as a financing statement filed as a fixture filing with respect to all fixtures included within the
properties covered by the Oil and Gas Deed of Trust as amended hereby and is to be filed for record
in the real estate records of each county where any part of such property (including such fixtures) is
situated. This First Amendment shall also be ~ffective as a financing statement covering as-extracted
collateral including, but not limited to, oil, gas and other minerals.
Section 4.6 The business and mailing addresses of the Grantor, Trustee and Beneficiary
are set forth in the commencement paragraph of this First Amendment.
Section 4.7 The terms, provisions, covenants and conditions hereof shall be binding upon
the Grantor and its respective successors and assigns and shall inure to the benefit of the Beneficiary
and its successors and assigns and shall constitute covenants running with the land. All references
in this First Amendment to Grantor and Beneficiary shall be deemed to include all such successors
and assigns.
0693
Section 4.8 Any default in any one or more of the above-described Note(s) and/or Letter
of Credit Note and any substitutions, replacements, modifications, renewals and/or extensions
thereof shall be deemed to be a default of the remaining Notes. Additionally, all of the above-
described Note(s) and Letter of Credit Note and any substitutions, replacements, modifications,
renewals and/or extensions thereof shall be secured by the Original Oil and Gas Deed of Trust as
amended.
Section 4.9 This First Amendment to Deed of Trust may be executed in a number of
identical counterparts, each of which shall be deemed an original, and all of which are identical
except that in order to facilitate recordation, portions of Exhibit "A" hereto which describe (a)
Mortgaged Properties situated in counties other than the particular county in which a counterpart
hereof is being recorded and/or (b) the Previously Mortgaged Properties described in the Exhibit "A"
to the Original Oil and Gas Deed of Trust which leases and descriptions thereof are incorporated
herein by reference may be omitted from such counterpart.
Section 4.10 THIS FIRST AMENDMENT TO DEED OF TRUST AND MORTGAGE
ALONG WITH THE ORIGINAL OlL AND GAS DEED OF TRUST SHALL BE DEEMED TO
BE A CONTRACT ENTERED INTO PURSUANT TO THE LAWS OF THE STATE OF TEXAS
AND SHALL IN ALL RESPECTS BE GOVERNED, CONSTRUED, APPLIED AND ENFORCED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS PROVIDED HOWEVER,
THAT WITH RESPECT TO THE CREATION, PERFECTION, PRIORITY AND
ENFORCEMENT OF THE LIEN AS TO THE MORTGAGED PROPERTIES IN THE STATES
OF NEW MEXICO, OKLAHOMA AND WYOMING, THE LAWS OF THE STATES OF NEW
MEXICO, OKLAHOMA AND WYOMING SHALL APPLY.
Section 4.11 THIS FIRST AMENDMENT TO DEED OF TRUST AND THE
ORIGINAL OIL AND GAS DEED OF TRUST SHALL SECURE THE TOTAL OF THE
AMOUNTS DEFINED IN SECTION 1.3 OF THE OIL AND GAS DEED OF TRUST UP TO
A MAXIMUM AMOUNT, AT ANY GIVEN TIME, OF TWICE THE ORIGINAL
PRINCIPAL AMOUNT OF THE NOTES.
Section 4.12 This First Amendment to Deed of Trust and the Original Oil and Gas Deed
of Trust are subject to the terms and conditions of that certain Restated Loan Agreement dated on
or about the date of this First Amendment by and between Grantor, Beneficiary and Dennis D.
Corkran.
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(sign ature page follows)
NOTICE
THIS FIRST AMENDMENT TO OIL AND GAS DEED OF TRUST, THE ORIGINAL OIL
AND GAS DEED OF TRUST, THE NOTES DESCRIBED ABOVE AND THE
ACCOMPANYING UCC-1 AND UCC-3 FINANCING STATEMENTS, GUARANTY AND
RESTATED LOAN AGREEMENT AND/OR ANY AND ALL OTHER DOCUMENTS
EXECUTED AT OR NEAR THE TIME OF EXECUTION OF THIS DOCUMENT
CONSTITUTE A "LOAN AGREEMENT" AS DEFINED IN SECTION 26.02(a) OF THE
TEXAS BUSINESS & COMMERCE CODE, AND REPRESENTS THE FINAL
AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRiTTEN ORAL
AGREEMENTS BETWEEN THE PARTIES.
IN WITNESS WHEREOF, this First Amendment is dated the date set out above, although
is executed on the date of the acknowledgments annexed hereto.
GRANTOR:
CORKRAN ENERGY, LP, a Texas limited
partnership
By:
Hummingbird Investments, LLC, a Texas
limited liability company, its General
Partner
By:
Dennis D. Corkran, President and
Operating Manager
BENEFICIARY:
COMMUNITY NATIONAL BANK
By:
STATE OF TEXAS §
COUNTY OF MIDLAND §
This instrument was acknowledged before me on this
~C~da ofF
y ebruary, 2005 by
DENNIS D. CORKRAN, as President and Operating Manager of HUMMINGBIRD
INVESTMENTS, LLC, as General Partner for CORKRAN ENERGY, LP, a Texas limited
partnership, on behalf of said limited partnership.
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STATE OF TEXAS §
COUNTY OF MIDL~ §
This instrument was acknowledged before me on the
day of February, 2005 by R.
DANNY CAMPBELL, as Executive Vice President of COMMUNITY NATIONAL BANK, on
behalf of said bank.
c:\cnb\corkran~feb05\d or. 1 amd 6 ..... e~ ?
SCHEDULE I
Attached to and made a part of that certain First Amendment to Deed of Trust, Mortgage,
Security Agreement, Assignment of Production and Financing Statement dated February 8, 2005
fi.om CORKRAN ENERGY, LP, as Grantor, to ROBERT D. SOUTHEtLLAND, Trustee, for the
benefit of COMMUNITY NATIONAL BANK, as Beneficiary.
Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing
Statement dated June 28, 2004 from Corkran Energy, LP, as Grantor, for the benefit of
Community National Bank, as Beneficiary, recorded in the following Volume and Pages of
the respective records of the County Clerks' offices and/or Office of the Recorders set out
below covering the leases, lands and other properties as described in said Deed of Trust, to-
wit:
COUNTY/STATE
Chaves County, New Mexico
Eddy County, New Mexico
Lea County, New Mexico
Grant County, Oklahoma
Stephens County, Oklahoma
Crook County, Wyoming
Lincoln County, Wyoming
Atascosa County, Texas
Montgomery County, Texas
Nolan County, Texas
Nueces County, Texas
Oldham County, Texas
Potter County, Texas
Smith County, Texas
VOLUME/PAGE
FILE NO. RECORDS
495/1123 Official Public
556/1158 Official Public
1315/693 Official Public
556/819 Official Public
3002/225 Official Public
420/577 Official Public
560/826 Official Public
278/776 Real Property
624-10-1041 Real Property
685/1 Real Property
2004037742 Real Property
177/309 Real Property
3486/472 Real Property
7563/409 Real Property
UCC-1 Financing Statement from Corkran Energy, LP, as Debtor, for the benefit of
Community National Bank, as Secured Party, having File No. 04-0073600252 filed with the
Secretary of State of Texas on July 5, 2004.
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c Acnb\corkran~feb05kscheduleI
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EXItIBIT "A"
WYOMING
Attached to and made a part of that certain First Amendment to Deed of Trust, Mortgage, Security
Agreement, Assignment of Production and Financing Statement dated February 8, 2005, from COtLKRAN
ENERGY, LP, as Grantor, for the benefit of COMMUNITY NATIONAL BANK.
1. All of Grantor's and/or Debtor's (hereinafter collectively referred to as "Grantor") interest in
oil, gas and other mineral leases or oil and gas leases, overriding royalties, minerals, royalties and properties
as described below or covering the lands described below, whether in whole or in part, together with all of
Grantor's interest in all oil, gas and other mineral leases or oil and gas leases, overriding royalties, minerals,
royalties and properties with which any of the foregoing may now or hereafter be pooled, unitized or
comrnunitized (and any extensions and renewals thereof), regardless of the descriptions, working interests and
net revenue interests set out below, if any. The depth limitations, land descriptions and descriptions of
undivided working interests and net revenue interests reflected below and the listing of any percentages,
decimal or fractional interest in this Exhibit "A" shall not be deemed to limit or otherWise diminish the interests
being subjected to the lien, security interest and assignment of this instrument. It is intended that this
instrument shall cover and affect Grantor's entire present and future interest in the Mortgaged Properties. The
listings of depth limitations, land descriptions, working interests and net revenue interests in this Exhibit "A"
are made for the sole purpose of giving effect to the title warranties of Grantor contained in this instrument.
2. Some of the land descriptions in this Exhibit "A" may refer only to a portion of the land
covered by a particular Lease. Some of the land descriptions in this Exhibit "A" for certain Leases may be land
descriptions of pooled or proration units pertaining to one or more of such Leases and, therefore, describe more
lands than are covered by a particular Lease. This instrument is not limited to the land described in this
Exhibit "A" but is intended to cover the entire present and future interest of Grantor in any Lease described
below, even if such interest relates to land not described in this Exhibit "A." Reference is made to the land
descriptions contained in the documents of title whether Oil and Gas Leases or Assignments of Oil and Gas
Leases as described in this Exhibit "A" and/or filed with the respective County Clerks' Office, Office of the
Recorder, Bureau of Land Management or applicable state land office. To the extent that the land descriptions
in this Exhibit "A" are incomplete, incorrect, or not legally sufficient, the land descriptions contained in the
documents so recorded and/or filed are incorporated herein by this reference.
3. If applicable, the terms "BPO WI" and "BPO NRI" in this Exhibit "A" specify the warranted
working interest and net revenue interest of Grantor in a particular well or property before the occurrence of
a particular event such as payout of costs with respect to such well or property. The terms "APO WI" and
"APO NRI" in this Exhibit "A" specify the warranted working interest and net revenue interest of Grantor in
a particular well or property after the occurrence of a particular event such as payout of costs with respect to
such well or property.
4. Within each Lease or Assignment description, the following explanations apply:
"Lessor" and "Lessee" refer to the original lessor and lessee set forth in the lease.
"Assignor" and "Assignee" refer to the parties identified in a particular document transferring an
interest in the affected properties to Grantor.
The descriptions are given by fractions of each section, Section number, To. wnship and Range. For
example,
T = Township, R = Range, Blk. = Block, Sec. = Section, N = North, S = South, E = East, W = West
The descriptions may also include characterizations of interests described by abbreviations. For
example,
APO = "after pay-out", BPO = "before payout", WI = "working interest", NRI = "net revenue interest",
RI = "royalty interest", ORR][ = "overriding royalty interest"
The designation "T-22-S, R-37-E" refers to Township 22 South, Range 37 East. The description "N/2
of the SE/4 of Section 8, T-23-S, R-37-E" refers to the North half of the Southeast quarter of Section 8,
Township 23 South, Range 37 East.
Fractions are fractions ora section. Fractions may also be written with alpha characters as numerators
and numeric characters as denominators. For example, NW/4 = the Northwest one-quarter of a section.
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CROOK COUNTY, WYOMING
WM Federal
All of Grantor's right, title and interest in and to the following described Oil and Gas Lease(s)
and/or Oil, Gas and Mineral Lease(s), insofar as said lease(s) covers the lands described
below:
Lessor:
Lessee:
Date:
Description:
United States of America - W 66386
Kristie Rae Cobb
March 1, 1979
The SW/4 of the NW/4 of Section 9, Township 52 North, Range
68 West, 6th P.M, Crook County, Wyoming
LINCOLN COUNTY, WYOMING
Fontenelle Unit and Font Federal Wells
All of Grantor's right, title and interest in and to the following described Oil and Gas
Lease(s) and/or Oil, Gas and Mineral Lease(s), insofar as said lease(s) covers the lands
described below:
Lessor:
Lessee:
Date:
Recorded:
Description:
United States of America- Serial No. W 38501
Unknown.
February 28, 1983
Not required.
Township 25 North, Range 111 West, 6th PM, Lincoln County,
Wyoming
Section 6: Lots 6 and 7, the E/2 of the SW/4 and the SE/4
Section 7: Lots 3 and 4, the E/2 of the SW/4 and the SE/4
Section 5: The W/2
All in Lincoln County, Wyoming
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