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Home My WebLink About891054.tiff r� r RESOLUTION RE: APPROVE ASSIGNMENT COM PANY OF LEASE ANYTOL FROM CACHE YCO ENERGY CORPORATION AND AUTHORIZE CHAIRMAN TO SIGN WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, on December 11, 1985, Cache Exploration, Inc. , and Conquest Oil Company received an Oil and Gas Lease from Weld County, Colorado, for property located in Section 12, Township 5 North, Range 65 West of the 6th P.M. , Weld County, Colorado, and WHEREAS, Cache Exploration, Inc. , and Conquest Oil Company have assigned all right, title, and interest of said property to Lyco Energy Corporation, 12770 Coit Road, Suite 615, Dallas, Texas 75251, and WHEREAS, the required $25.00 fee has been submitted, and WHEREAS, pursuant to Weld County' s Oil and Gas Lease, said assignments must be approved by the Board of County Commissioners, and NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the assignment of said lease, from Cache Exploration, Inc. , and Conquest Oil Company to Lyco Energy Corporation, be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is, authorized to sign said assignment. L1000 / � Aaa.Uu%7 -oYrer"' 891054 Page 2 RE: LEASE ASSIGNMENT - LYCO ENERGY CORPORATION The above and foregoing Resolution was , on motion duly made and seconded, adopted by the following vote on the 2nd day of October, A.D. , 1989. BOARD OF COUNTY COMMISSIONERS ATTEST: (2ultd6,�i WELD COUNTY, COLORADO Weld County erk and Recorder Xet� and Clerk to the Board C. 1r y, C irman ClicL4O7�t�12 c p , � G R. ran ner, Pro-Tem eputy County Cl�rk APPROVED S TO FORM: Constance L. Harber �t. c-- _ � re; A. a 0 " :---)a-Ce-cej) George K n d sior County Attorney $ ify Go a 891054 Armstrong Oil & Gas Land Services January 19 , 1989 Weld County Board of Commissioners c/o Clerk of the Board 915 10th Street Greeley, Colorado 80632 Dear Sir: On December 19 , 1985 Weld County signed a lease with Cache Exploration, Inc. and Conquest Oil Company. Said oil and gas lease is recorded in Book 1099 under Reception No. 2039432. On March 24 , 1988 Cache Exploration, Inc. recorded a series of assignments from itself and investors by which those parties assigned four acres of the subject lease to Lyco Energy Corporation and its investors . Cache Exploration, Inc. in a Affidavit and Ratification, recorded in Book 1189 under Reception No. 2135242 , sent out the individual investors making the assignments to Lyco. The individual assignments are recorded as follows : 1189-2135243 1189-2135252 1189-2135263 1189-2135244 1189-2135254 1189-2135264 1189-2135245 1189-2135256 1189-2135266 1189-2135246 11S9-2135257 1189-2135267 1189-2135247 1189-2135258 1189-2135268 1189-2135248 1189-2135259 1189-2135269 1189-2135249 1189-2135260 1190-2135478 1189-2135250 1189-2135261 1189-2135251 1189-2135262 Copies do not accompany this request for approval of the assignment because of the prohibitive cost of copying the 226 pages of assignments ($285) but a copy of the Affidavit and Ratification is attached to verify that the assignments were made to Lyco and to provide the address of Lyco Energy Corporation. We request that you accept this means of requesting approval of the subject assignments to Lyco by returning a signed copy of this letter. Should further information be needed please let me know so that I can obtain the needed information and provide it to you. Thank you for your time. Sincerely, Michael D. Armstrong, o he Exploration, Inc. APPROVED BY WELD COUNTY THIS 2nd DAY OF 0ct4,er , 1989. �/� ATTEST: / � exAMAf� BY: �r// ,�e r .. By• eputy County Cl r Michael D.Armstrong • P.O.Box 1052 ■ Greeley,Colorado 80632 ■ s. 353-1965 ■ Res. 669-7302' / , 71/1/O/ 891054 V • • M . G_f AR2135242 B 1189 REC 02135242 03/24/88 15:43 $6.00 1/002 F 1787 MARY ANN FEUERSTEIN CLERK 6 RECORDER WELD CO, CO AFFIDAVIT AND RATIFICATION Cxn STATE OF COLORADO ) ) ss. COUNTY OF WELD ) Jack L. Schreiber, being first duly sworn, upon his oath deposes and states as follows: 1. He is the President of Cache Exploration, Inc. 2. Cache Exploration, Inc. is the manager of CEI-Law No. 1 Joint Venture, which is also known as CEI-Law 11-85 Joint Venture. CEI-Law No. 1 Joint Venture and CEI-Law #1-85 Joint Venture named as assignee in that Partial Assignment of 011 and Gas Leases - recorded March 16, 1986 in Book 1107 as Reception No. 2047670 of the Weld County Records are one and the same joint venture. 3. The names and addresses of all of the joint venturers - represented by the name of said joint venture are as follows: Wendell Arnold Harris Lett 11803 Eden Glen Drive P.O. Box 126 • Carmel, Indiana 46032 Holyoke, Colorado 80734 Steven Bolander Steve Lovejoy 1120 South County Road 3 4302 89th Street Fort Collins, Colorado 80525 Lubbock, Texas 79423 Leonard Borowski N. Kirk Morehead 719 40th Avenue 1362 South Mesa Drive Greeley, Colorado 80634 Columbia, Missouri 65201 Wayne Bute Marlyn Morrison 604 South Fir Street Box P.O.O Box 220 20neas 67877 Yuma, Colorado 80759 Delbert and Sharon Dinstel Osborne Partnership P.O. Box 1646 P.O. Box 190 Colstrip, Montana 59323 Johnstown, Colorado 80534 Robert Each David Bausch 828 Scenic Drive 422 Meadow Lane Fort Collins, Colorado 80526 Bismarck, North Dakota 58501 Evergreen Investments Charles and Betty Schmidt 10134 West Geddes Circle 23700 Weld County Road 58 Littleton, Colorado 80127 Greeley, Colorado 80631 _- Nick D. Francis Lloyd Warner •i 5801 West 24th Street 130 Palmer Drive Greeley, Colorado 80634 Fort Collins, Colorado, 80525 Ken Huck Wilbert Wiedeman 4523 South Robb Street ` 1835 26th Street Littleton, Colorado 80127 Greeley, Colorado 80631 891054k � r `.. �.•. _ . .4rYt Kro r'r. M. v+� r ' ti 4 p f 1 h.' , „ x '`+ I.Z3 3,i{'µ,' 9 l4 9 195:9-1,L494449' i k Rgl. 94-,..,,,,,,,, . `. 2 ` hw 1 � W V the ,A ,� .it-.t .(::: ' r • N>,J 1f 5,+ + . .µ ... .:D. �..J'kil"S .n4 u.. . . . . ,,,,m.,%,,,,,4. e„ dY)4r,§., y 1(41":1‘i, A:1::::,,k3, 7. - - 6. 00 r r 0i2 �xl1 YFt1 13s �'+.4. B 1788 MAR 02135242 ( i/INC :'r $ t� A t 1708 MARY ANN FEUERS:'EI4 CI.ERR 9; RECORDER WELD CO. -',+`��prg�N�pi tCN' g q� Gar N'. 1leford +4 ; ` "4 rk{ � Oro Klausner Bros. t (; . I:: .1,""a RtyS R44410ogge Weld County Road 5} Route Box 30¢ 6 1/4.1,,,--,,t.•' ,�� 4,4 ..94"9,t• Roggen, Colorado 80652 Hughes Springs, Texas 5b5 .'Ski 41'g Glen M. WI1leford '4 r ,. Harold Weld County er ql 4`9, x i ` Route 2, No. 3 Union Circle4,S40.4.0 .,4.',,<, S ry te { � ,,? > } ? 6858 Road 79 1'4s� Tr } s Roggen, Colorado 80652 Altus, Oklahoma 73521 }s. o ;itt ',, Joseph and'William Klausner Harold Winograd `i - 'u�,t4 , P.O. Box 1765 "C"),".1-.‘ 1 aaa10 Weld County Road 61x_ �` rx = Roggen, Colorado 80625 Greeley, CO 80632 3''-41 �. -.4- ',-.;''' �q x . : e Y -.1 '1.S.. u Richard L. Kury - d Yk 32 Riverwood Estates Boulevard ;e ' ,, •9 ' .." Florissant, Missouri 63031 °' 1j,, "F i ,.1: S . Each of said oint venturers has executed an '''• : gg " `ry , „3° Assignment, Bill of Sale and Conveyance dated to be effective as :f"m` of January' 1 , 1988, conveying his joint venture interest and his r it interest lni joint venture property to Lyco Energy Corporation. - qPP/ 1. a H 449.4 `,. 5. Cache s ,9 o'axeµ Exploration, Inc. , as manager of said point ra ,. � venture, hereby ratifies and confirms each such Assignment, Bill '' 1.1 of Sale and Conveyance as binding upon any interest it may have � '. in the joint venture and the assets thereof. Ig' 6. After the delivery of such Assignment, Bill of Sale and , Conveyances, the names and addressee of all the joint venturers { Y tfs , are as follows: d , 'L' ..: Lyco Energy Corporation Cor l 12770 Colt Road, Suite 615 , s• ¢ Dallas, Texas 75251 ` y + 1 Dated this /4 day of March, 1988. s '1',,414.4) C7Vahre er, res dent L,i , t i Cache Exploration, Inc. k' ,;`'#'. :. �t4a - ^ '"a : �`i'7 The foregoing instrument Was acknowledged, subscribed and 'VA,-1 c ; , . :_j'f�".�fir" sworn to before me this WO- day of March, 1988 by Jack L. fir r ,. - , „ ', e Schreiber. ;�'" '" 3;l, ,.r , F �:. - ' '' -.11 ST G Witness q hand and official seal. `'' 7 +1.4' ,". :"? C- ':- i17 .aepission Expires: ,7' 7 - 9e, g-c,,r•'1' F .t"A, 5,O4 Vf:.g - 1-01\ .. QI )( �'� § 'k� * '_ J "tic g, ' ' j:�Yr m:es No ary ub a e�y. g 's 2: .Tore •of ..fr . , 6' ... „: 891054 1; ,[ kr '`4 � « fik h vj ^^43* 4. 's`. �4 { ry �.sz1.,.:.^� o.ta YWnxS�' m.'va 's T .F. . -;Ws . ...v S'„-4,1...',4 ,. . . i 5t I �; . ,.', �,� AR 2039432 is .r 9 ' E S `� WELD COUNTY OIL AND CAS LEASE k b d CCC • ' ,'4 ' 4i7 Containing 5.00 acres, more or less, ma° rf i, ( ^ , IRIS LEASE AGREEMENT, dated this 19th day of 0ecariler , 19 85 , made and entered ar r n 4'4.4-0x • �{T - �' into by and between WELD COUNTY, COLORADO, a political subdivision of the STATE OF COLORADO, acting by and w ff.,t .y through the WARD OF CCU.v1Y COMMISSIONERS OF THE COUNTY OF WELD, for its respective interests, e/o BOARD OF `w •1. . y COUNTY COMMISSIONERS, WELD COUNTY CENTENNIAL CENTER, 915 10n STREET, GREELEY, CO 80631, hereinafter called ed m , a�p� st4 a. A q Lessor, and, ~~ x eF24,: t af t, a Cache pxsloration, Inc. and Conquest Oil Ccepany n,u 'r / "t1 ''�' P. O. Box 2480, W,o , �' '' 13 Li Greeley, Colorado 80632 1 A ' ✓1� herein/Eter celled Levee,�l I.Y: " , ,4yO�$ Y Ill 2N ay o , sY$ 9 vk.+��3i I WTfNE85ET1iW I i� r��' rrk: d/i 'c. 4 ah WHEREAS, said Lessee has applied to Lessor for an oil and gas lease covering the land herein described, .4 a r'ta; r, tx $, + F et9Ei'".+,1rr and has paid • filing fee in the amount of $10.00, plus • bonus consideration of $ 100.00 per mineral Eta, a , ,.�. a {'y n ' � acre, fixed by Lessor as an additional consideration for the granting of this lease, and Lessee agrees to W " 1 it i. ' pay an annual rental of $ 5.00 , computed at the rate of $ 1.00 , per mineral acre or Ps O yII.134 ', yk 4,-,,; ° fraction thereof per year. py ' r'*1'' 4 i�gx'Ni f d'c, FIIs t, ro'r ' M WHEREAS, all the requirements relative to said application have been duly complied with and said 2\ 1kr1 $`d �+$�, _ 'alY �4 , application has been approved and allowed by Lessor; C)0* °„,, 41-,..4/: 5 ft .p I *1X414:4 ' r{r 5 +6#` TitREFORE, in consideration of the agreements herein, on the part of Lessee to be paid, kept and R N ' . s . + ry".a,,,;-"V I 3 - performed, Lessor does yeses exclusively to Lessee for the sole and only purpose of drilling for, Es) w` C`D ¢fir k"". development of and production of oil and gas, or either of the•, thereon and therefrom with the right to own y, 6 i',„I,ts,- 7 t all oil and gas so produced and saved therefrom and not reserved as royalty by Lessor under the terms of g W r i`d. a fi" y xr� y this leeee, together with rights-of-way, easements and servitudes for pipelines, telephone and telegraph ti 1 r r';. ,441!4'4, A b, 'jlf 44'''' lines,lines, tanks and fixtures for producing and caring for such product, and housing and boarding employees, and W I Y +Lie{ µ u 0 c :":'..,.::,\'''',,,,-;.. .;,t,,..',:":40,@ . any and all rights and privileges necessary for the exploration and operation of said land for oil and tiara!' r Lf 6 {:4,1 s^yr ., the following described land situated in the County of Weld, State of Colorado, and more particularly 'A o I 1 ▪ St4 g;1 A described as follows: a O ...,r0,0, t #':.. lik4DESCRIPTION OF LAND SECTION TOWNSHIP RANGE " .A3, e j a nix , � ^� See Exhibit "A" for description 12 5 North 65 West o\ °�,l�r`kua`r . x,. TO RAVE AND TO HOLD said land, and all the rights and privileges granted hereunder to Lessee until the 0 b ' e& -, 49 ' Fi hour of twelve o'clock noon on the 19th day of Ilenarhpr , 19�_ as primary term, and w long 'ra ▪ `;`�'A 'Y, �' thereafter as oil and gas, or either of them, is produced in paying quantities from said land or Lessee is, "C•" ,` `Nj ¢ p, diligently engaged in bons fide drilling or reworking operations on said land].subject to'the terms and i`. ;i1rl „ ?+°� conditions herein- Drilling or reworking operations shall be'deemed to be-diligently'performed'if there is x ,` i 4 rate `"r° no delay or cessation thereof for a greater period than sixty consecutive days unless. an extension in , r,k., 5 ' a ^3 s .z vetting is gren[ed by Lessor; provided that such drilling or reworking operations'are commenced during said r r° 'i,N'r :411'1.• A y,,, ar-v I,43' srr ;p primary term or any extension thereof or.hale this lease is in force by reason of production or oil and gem � ' yr +. dt 1,,a*`t' * " 4ia 4Y, or either of them, or that such naorking is commenced within'sixtrdayr open cessation of production for r,,- -U T , 4. yv 1 1 the purpose of re-establishing the ssme, and provided further that such production is commenced during such i r r: 4 „� L ,� r `'�;� primary tan or any extension thereof, or while this lease is in force by reason of such drilling or N,i ' *r " l'}- ,-r�erorking operations or other production. pP a " . . � '� Cd 891054 .: � ,' l Ig (Pew. 2/85) I " � rt '�'.r.�l : d 1 F r t` N'xf., .q. pro w k '"' n hf r a t r i n _ ?...:5L4,117',' ,134,1„...1.4,,,;,. ' �} it ,k i 7,rii F ..it 9 "='"i 4 ./24... 1•!!!'i . q ,, ,' `h i Cb w`sW' ., ...I 4" ,.' +t r h't • * A, w I 4 ( 4444 41 4 , l 4144▪ 1 f '� LT.. IFl I i ECf LtI R.\SIOY - lessor rest nce the right to conduct exploration on the leased land provided such • v F Il 4 ; .I exploration does not interfere with rignts granted herein, a ; (1 {11 j In consideration of the premises, the parties covenant and agree as follows, 4 3 7• 1 ; I t6 1)1 . { i • t � { ' 1. REKCAL If this lease is extended for an additional ten as provided for in the EXTENSION y' paragraph hereof, lessee 'hall during such extended period pay to lessor an annual rental at double the rate ! IT,• -60:'1't$ N 'ki(. 7 b� above specified for the land covered hereby. The rental in effect at the time production is established ' i CI { shall not be increased due to the term of this lease being extended by such production. Rentals set at the m f time of established production shall be paid during the remaining life of this lease, annually, in advance, ,y N▪ I1 3b!( I h, # ! on or before each anniversary date hereof. There shall be no refund of unused rental. N O 1 a• d o ,f):4°. : � ; .. ROYALTY - Lessee shall account for any and all substances produced on the leased lend and Lessee iR Yr qr 1 shall pay rn Lessor as royalty, in addition to the rentals provided, but except for products used on the ; SC O t leased land, uncwldab ly lost or flared on the leased land, with approval of Lessor, the following: ,'bI� t f ZO 1 } �� L▪ a= rs (a) On oil, 21.0% of the oil produced and saved from the leased land. 4� tlw a • t I- .41...' -,,,,,,, „( �8sg�d � At the option of Lessor, and with sixty (60) days' notice td Lessee, Lessor may [eke its N f \ r > sps royalty oil in kind, in which event Lessee shall deliver such royalty oil to Lessor on the leased land, sf „.1 .t. h"it free of cost or deduction, into the pipelines or storage tanks designated by Lessor, but Lessee shall en tilt: , k /4‘ a [ a. not in such case be required to provide free tankage for any such oil for a longer period than one i� r ,4 A ,• P d 1 month after the same is run into tanks. With sixty (60) days' notice to Lessee, Lessor may cease 5-9.-9 N F •. ' 3 3• rf. taking oil royalty in kind. When paid in cash, the royalty shall be calculated upon the fair market Zt S; value of the oil at the well which shall not be deemed to be less than the price actually paid to g i to,, d,.. P,,,a f• ) AY; , Lessee at the well by the purchaser thereof; and in no event shall the royalties be based upon a market R„• 1,4.'4'614',,ff r value at the well less than the posted price in the field for such oil, or in the absence of a posted G }A , '� 1.14i',f v price in the field for such oil, upon a market value at the well less than the prevailing price *w ,,' 5tih 3 received by other producers in the field for oil of like grade and gravity at the time such oil is run N l s 6;,,-,-1,7,7 into pipelines or storage tanks. w ' 4,', .Z'r�v 1 ) % r,• d Oo ` ,y. i z* (b) On gas, including casinghead gas or other gaseous substance, 21.0% of the fair market C t { „,., „r '{'w Oy ia , IA'' value at the well or of the price received by Lessee at the well, whichever is greater, of all gas Wpm L v '94,9;9- '. t mar o „9,-),,,,4° produced and sold from the leased land or utilized off the land by L A copy of all contracts for %� i lti`° e1y ,. sale of gas shall be furnished to Lessor. Where gas is sold under contract that has been approved by �00'f ,�f�(X '"f ;.116);;;-1 '' 9 Lessor, the fair market value of such gas for determining the royalties payable hereunder shall be the ,a"'/ f gp • price at which such gas is sold under such contract. No approval by Lessor of the term of any such f c x " M agreement shall operate to make Lessor a party thereto or obligate it thereunder in an way. At the O .? i^E' y 5 0 ) r t��^. option of Lessor, and with sixty (60) days' notice Co Lessee, Lessor may take its royalty in kind. �: °°•46`°,"of �� With sixty (60) days' notice to Lessee, Lessor may cease taking gas royalty in kind. p `3t -- t��' a' Nyy,`= g to l Tr ae h x . $ t r y 7 q ;, (e) All eos[s of marketing the o11 and/or gee produced shall M Dorna D Umaes aM wN coats 'E, ., 1 snag s rx "1,1;,' shall not directly or indirectly reduce the royalty payments t. Lessor. Except that marketing costs 9.{xa. #' :1, r 3311; for Lessor's in-kind royalty shall be borne by Lessor. -ti 9i <<a y� k a( i s � (d) If Lessor owns a lesser interest in the oil and gas deposits of the above-described land than $g;r'' n a {c Vi ,l- the entire and undivided fee simple estate, then the royalties and rentals herein provided shall be s-^w ': r' tit/ w+ k 7 ea * t,' (� .p,1 paid to Lessor only in the portion which its interest bears to Na whole and undivided fee, but no •l.,-,/,- yi, 2(,ps, refund of any bonus consideration shall be made by Lessor hereunder. ) ''-,-2,,u.,, ry`„fYi S - t a 891054 = lar� #yi' N n p' t. �- Mpd 1 %." ....1.:'1 +f ,.< _ .. ' .. k I S }Y klli 441/4 44440 :4' As t ' M3 / C .1 e^t' Ifb a , _ fl s e + L . rAt rrr .. ... s ,, "A A 4,,?t� ,e'I 44. _t 4; 4 44 ai"f a. ,l e;Os s Ter 4d _.,a 4444 �',y«, i14K,yr r s e r s r g f " a a ,.a a...:.I,xv 333,4 Y.23"i% tie la aaa.dou ♦ A s .. ' t.� d 0. 41 r s l I 'd 9 }}b >rl :'7,447::44:7,;:: rd° rb I7 1 t 4:,....,4,,,,v4 '&fie ha d { tict 1 FFCO' L - t Nc p d [ 1' p ..inn cOmpler r. Ir t k 1 rr_ de {'" 34P-43434, A` ' 343-41 �r r l it ' 1 Y all aso bl f; es amino he ,ac n furnish copies of to t 1 -t Y ? I••••,, dr ae I, Y along ltl purchaser' no( e 101e mad ail' not be Unrea onnb:� with realest,a . All said • 2 ,ty�" r a_ f bo k t records shall be c (net by lessee and male available in Colorado to lessor for a period of not a rg , g,y.:.. lesv chm lice vrnre, t N O ��.. N ; ~ u� a az°kt 4 '� xe cd li }lq y 4 YSASLRC`fEtfIS All production shall be ncu�ri[c lv manna red m1nA s A U rn cabltah�d Dy [he w nx ;` I M qi T :i American Gas Association (ACA) and/or the American Petroleum Institute (API) and 11 measuring devices shall 3 ,,g 1' ,74,.(•,• / 6d d., ° T7 be t p- proof as nearly as p .aible. Oil royalties due within the terms of this lease shall he calculated ; p t`rri t, t Ei'"0 'f on actual and accurate measurements within API standards unless a different means of measurement, subject to '< O S 4� jz h z '�`{ 1� Lessor's approval, is provided. Z N 5� rz O R ,�U a w i. M � ;c „ S "Iii,rev 5. PAYMENTS & REPORTS - All payments and reports due hereunder shall be made on or before the day td N ,a6 ti such payments and reports are due. Nothing in this paragraph shall he construed to extend the expiration of � s St f. e ag ,+.v / '}z i'g ""t the primary term hereof. N o ;.; k6- ,, " "3 r?S y `� d "v { 9t i .� q1 Oil royalty payments and supporting documents shell be submitted prior to the last day of the s,. r\+ u } 4:- gg t i6 'p �; y month following each month's sale of production, and gas royalty payments and supporting documents shall be Z f 44€f y A. `' submitted prior to the lase day of the second month following each month's sale of production. �� q.l Ayd �}�t t.*i3 3.4..3:44.4344' cs•4. to sF i � All payments shall be made by rash, check, certified check or money order. Payments having t5` r' 5 . P4'3 restrictions, qualifications, or encumbrances ..t any kind whatsoever shall not be accepted by Lessor. A o 1 L. n n S " 4 penalty for a late payment shall be charges as set forth in the PENALTIES paragraph herein. in ; Or'f g ' . fl i , 0 qst 443“3-3 -4 6. PENALTIES A penalty shall be imposed for, but not limited to late payments, improper payments, sJ r' +rl 5 p operational deficiencies, violation of any covenant of this lease, or false statements made to Lessor. 6 , ire� Penalties shall be determined by Lessor unless otherwise provided for by law and may be in the form of, but p o S i3)1 " k :44 not limited to, interest, fees, fines, and/or lease cancellation. A penalty schedule shall be prepared by ,,o �43 443 s "tat, i',r,. Lessor and shall become effective immediately after public notice. Said schedule may be changed from time g o p art a to time after public notice. d krr414 uld t n g W 1 } \ �, a '1 �y-'�� ;` sl ��${�� 7. LAW - IDs terms end conOlt ions of th Se ieane shall be perfoned and exercised subj ec[ [o ell Iws. o i x,,VP rules, regulations, orders, local ordinances or resolutions applicable to and binding upon the w c b ' ,te? '`F s T:4& � administration of lends and minerals owned by the County of Weld, and to laws, rules and regulations '{ S*c "An governing oil and gas operations in Colorado. Violations shall result in penalties as provided for by law ''�'t d 1 or as set forth in the aforementioned schedule or shall, at the option of Lessor, result in default as • c. RAM s)e t. provided hereinafter. *; sf $r4. 4'f., t y . ¢i+IA `(pj N r.ff ' e SURRENDER L may any tile, paying to Lessor all amounts then due as provided herein, Mk triYi4i ri surrender this lease insofar as the same covers all or any p portion of the lend herein leased and be relieved 4:j44/44' . 3 a , from further obligations or liability hereunder with respect to'the-land so surrendered; provided that no ,a t " partial surrender or cancellation of this lease shall be for lees than contiguous tracts of approximately 4.114,Ill j. p P ,�3CF A.,SI; J. � �� U�Uh forty (40) acres or Governmental lot corresponding Co a quarter-quarter section; provided further that this .0 •�....4 D :y4, surrender clause and the option herein reserved Co Lessee shall cease and become absolutely inoperative t { 4 '‘ immediately and concurrently with the institution of any suit in any court of law by Lessee, Lessor or any ,.fi �'a,A X 5� r assignee of either to enforce this lease, or any of its terms expressed or implies. In no case shall any te` +,,4 t b P 'k 9r 44.Ji nt t 4 � p rlFa i , �: 910 lf. s t 5 54 ... `^ r� n• ♦ fr a ,, s ,v'f i n • — , Z,U.' •. .1',.''N':, , df F, y� ka JSF rA A asuaxu:wfs2.5 sait?o*ua x I« a+.arih«.r:..i u r yea j is w h .y-a s`t >T to 5F a M x lilt; d W 4 {. .i4 kl. reS* a w a 1.. t '4.1/4',441S ti oink • 4 141. ,s� _ 0 pi I- "+Taco nor COnm a.lrvr. ,.. the Irasrd products ' ,{;` 7't y (fin a (� f ' t andprn.,ctln the i ;f 1 t•a.,.n r}., YWa . Iv . L ,. ,+1 �. * y k. t5J'n�# �'4 x K 9. ASSIG Oi ttS 4t r4 Rlt i s tceen co+snrr L shall have the right to assign the entire + 1. gypF 3, ( l 1 s oe, tit 1, i t not less, however, 0 , �n All r p tt lore covered n r ; i 1+ %fr oP't 'gr 1 1, ._ t Id t_ccres[ c. ll ._rr 0 corresponding to a T , unlnstel f)rt O cres or Govern t t lot o p R r,E ° EF .ii it. k, _uar contiguous ectio ( tP y sect, assignment Lessor shall �.Ya �E'.₹ h �"g quarter quarter section Elr s s partial alai enr, anti for approval E r! i „ ar 0 make nn assignment charge in an amount to be determined by Lessor. Prior to written approval by Lessor )dpmya 5' ) f of assignment of this lease, Lessee (assignor) shall not be relieved of its obligations under the terms ' W lb2, Hhereinassignment shall not extend the term of this icier,. a 44 { and conditions . An eslR rijjkiltE ,g L`, (b) If snv nestgnmenc of a porcf on oC eh— lane covrred hetlby shall be approved, a new lease 'rrsl vx < aye i ]s shall bel issued to the assignee covering the aselgned land, containing the same terms and conditions as i y�s3� 4eS.a s E 5. this lease, and limits] ns to term as th(s lease Ls ileac end, and [he assignor shall be released and (] p or 4 " � A t,.t discharged from all further obligations and liabilities as CO that portion so assigned. T J"r 1 a ' 1 4',41I44 re' Cc) Lessee shall notify Lessor of all assignments of undivided percen Li Re or other interests. b n-'N.2P T+' kst y`�s� �� Said interests will not be recognized or approved by Lessor, and the effect of any such assignments Naom the +s�F it e n ,� LS will be strictly and only between the parties thereto, and outside the terms of this lease: and no [+9 N £� s lit "w( S,. xc dispute between parties to any such assignment shall operate to relieve Lessee from performance of any r },i °14 ,, f� tae. terms or conditions hereof or to postpone the time therefor. Lessor shall at all times be entitled to N O !i, r'i.1.d s A � � look solely to Lessee or his assignee shown on its books as being the sole owner hereof, and for the b9\ r 2a c d11 1'1 P ?st sending of all notices required by this lease and for the performance of all terms and conditions N\ fey ; m � _. hereof. f]W s 6' rm a *Ptti Sn L. � i C,t,�,p Lt L'' (d) Although not binding on Lessor. all instruments of every kind and nature whatsoever affecting � �i XI-.ear �.0 this lease should be filed with the Lessor. O + A'3 P v av< ➢ "'� se any er s44 :J, '� 10. OVERRIDING ROYALTY - Any and all reservations or assignments or overriding royalties shall be 6 u t, fk t fi ; * t.r subject to approval by Lessor. The total of said overriding royalties shall not exceed five percent (5%), O { pvy,1 }• including any overriding royalty previouslythousand provided for unless e day s exceeds a monthly average of Doti �,,. #✓ �Yftisy t& p "yyFs t, fifteen (15) barrels per day or ninety thousand cubic feet of gas per (90 NGF/D), In the event thatPI Shy ), 4ftl ° )' +rl production drops to this amount or less, any overriding royalties utich exceed five percent (5%) may be UI G y. BNoisl ]` , suspended. Lessor's approval of a reservation or assignment of an oveiiidtng royalty shall not bind Lessor �aq for payment of said overriding royalty and shall not relieve Lessee of any of its obligations for payment of {,3 a'1 r'1 prow ,. royalties to Lessor as provided by ROYALTY paragraphs herein. O y ;-•10,'t fL t O\ a it �� 44. ,, o O yy 11. OFFSET WELLS - Lessee agrees to protect the leased land fros drainage by offset wells located on O ud o }s FiN. �� e,.' .Ev{� e f':. adjoining lands not owned by Lessor, when such drainage is not compensated for by counter-drainage. It O u) +� ' N� E - shall be presumed that the production of oil and gas from offset wells results.in drainage from the leased! land, unless Lessee demonstrates to Lessor's satisfaction, by engineering, geological, or other data, that,_ y..i F�fs '�e it s production from such offset well does not result in such drainage, or that the drilling of a well or wells f gs� y _ d am on the leased land would not accomplish the purposes of protecting the deposits under the leased land. IP �o.,t1. 41( Lessor's decision as to the existence of such drainage shall be final, and Lessee shell comply with Lessor's 11 order thereon or surrender this lease as to any such undeveloped acreage as designated by Lessor. ,P.„, + )5 ` hl 4 i 4b&it 89154 i, 1u itri,to zy �a {`^ • • Zn n ya tit ti _ . z .W�( 1$1 �, + vv ✓ , e rr ` { , P=,* y;' 12. OEIELOFlffN'I' - Upon discovery o[ oil and Res or either of [Aeon on the leased land, Lessee shall t Ki ^� 1 F( -, proceed with reasonable diligence to develop salC lend at a rate and to an extent commensurate with the b t",„5-;, s x.M1 �ggq�ra..,,u��, A f {b t t 14 3 economic dovefoPment of the Elcld In srh lch tAe leased land lies.4.p t 1"f^ ,' ly.. ..e.,t; 11. UNITIZATION tdtglMill Ltri ON - in the event Lessor permits she land Herein leaved to De included ,.,�z': within a esemunitlmatfon or unitltn[lon agreement, cha [ens o! this lean my De deemed to be modified to t<4 ,, + � , t."4 4i, ' confom to such agreement. When only a portion of the land under this lease is committed by en agreement, M W d' ;;; as,w A Lessor may segregate l the and Issue a aeparste ICaae (or lath portion leanot vomit red [hereunder, the tam N C r. # r>" 1 of such separate lease shall be limited as to the original term of this lease. The terms of the lease on J , `n . l .x r, b Y � that portion remaining in the unit shall be deemed to be modified to conform Co such agreement. ,� 1. s:-' ,ht L: Nonproducing leases shall terminate on the first anniversary date of the lease following the termination 1 T/ ^3 ^': . .., W . J qd `N�'a',. date of the unit or part thereof modifying the luxe, but in no event prior to the end of the primary term �p y jm ro 1. t.��'T of the lease or the extension ten of the lease. +„� , ta ,410 a:rill AS' ua 'Ix e b nt 4:`,, ' 14. PRODUCZION - issues anal!, eubJecc [o appllcabla laws, regulations and orders, operate and produce ,d ta ,, 'i o- •' all wells upon the leased land so long as the same are capable of producing in paying quantities, and shall tV N r y v2 4 A.y v',1 operate the same so ae to produce at a rate commensurate with the rate of production of wells on adjoining t R O%yu �"+t¢ � lands within the same field and within the limits of good engineering practice, except for such times as N 0 rnat` ' 1,1 x d if,0414# then exist neither market nor storage therefor, and except for such limitations on or suspensions of Ham\ ,} 7x,.�`' " 1 ti'" production as may be approved in writing by Lessor. Lessee shall be responsible for adequate site security Z 4i ` 3 1. , on all producing properties. x}4 F 9) u2 $ +b „ fl W f I . z il id P et r 1 ,5i, Mu �- 15. SHUT-IN WELLS - If Lessee shall eompleta a call on the leassd Lnd preduetiw of ga. and Leases is p F, j + kb iga unable to produce such gas due to a lack of suitable market therefor, Lessor may grant lessee suspension of O 0 ; , y�y 61O� ./ nw, Y`} his obligations to produce hereunder until a suitable market for such gas can be found, and during any such W 51 s1 ":Al a; x t suspension period, it shall be deemed that-gas is being produced hereunder in paying quantities. Except, '�.,, , .41'4"¢4 k , however, that beginning on the anniversary date next, of the year of an extension of the lease by reason of ,1# tan 0,p;,..144;40 .. F �'' a shut-in well, Lessee shall pay to Lessor a shut-in royalty equal to $2 per acre of the lease per annum in ;yam f 1 , 't x ¢ addition to the annual rental. The minimum amount of such shut-in royalty payment shall be $320. Each Mao - f,.y , 4 , , year's shut-in royalty shall be forfeited to Lessor except for the shut-in royalty paid for the year during pl p a a a �n t fp- Mich the well begins production. The maims extension of the lease, due to the existence of a shut-in s p r .. f rR�'. g...• 1T+' w„ td it%` well,f1 shall be five years beyond the extension term as described in the EXTENSION paragraph Dereln. 7be ro r i: +"yY ₹ to granting of any further extensions shall be at the sole option of Lessor. ai o. r Cl ��,,kk v ' alC,i 1" Q W tJa �M ( � t l a t Pd ;1 , ' - 16. OPERATIONS - No exploration, drilling or production operation, including permanent tnate11at1ons, a s F shall be within 200 feet of any existing building or other improvement, including water well or reservoir, 82 I trs k ,,:,:k ri t.tt eft; 1, f !- without the written permission of the owner of said improvements. Lessee shall keep m correct log of each t1 I I l4 Att f Al well drilled hereunder, showing by name or description the formations passed througfi, the depth at which __i ' v1 , , .r" each formation was reached, the number of feet of each site toting set in each well, where set, and the `{ i I', ," ..1,,,,I.41=: , total depth of each well drilled. L within thirty (30) days after the completion or abandonment of fJ.s.,:',t,', t' " (.. any well drilled hereunder, shall file in the office of Lessor a complete and correct log of such well, 7 , s.::,4. ' 1 f 3r.' JI together with a copy of the electric log and the radioactivity log of the well when such logs, or either.of I ,, 4:1+N c�. f I If them, are run; and also a copy of all drill stem test results, core+words:and analyses, record s of h E i^.&+.p, kxtJF µi.., ' 1 ., perforations and initial production tests, if any. If any of the information required by this paragraph is .,.", ,y tiOt 4 contained in reports required to be filed with the Oil and Cat Conservation Commission of Colorado, the w1 ,i ',Y. c 3 requirements of this paragraph for such inforutlon may be sacidlad by such filing with said Comlaslon, � 'r ): � 1'1, ` i.g except for copies of the reports as are required by the following paragraph, and provided that ill such r4 .. B, information is immediately available to Lessor. Any proprietary information so submitted shall not be x7 SRxrc� c subject to public inspection under Colorado law. M 444,124i, I",•11,7-,$• # E J 891©54 ,,, r'1 i , -4,-,:;4,44:4. t°t 1 � r 5 � I lm or }Y _1 y • t? ... ,41 'JY r y z :.-,,41Z. } ,� � 9 't , t K call ' ,'; ,„ �'^ z `1 Q•.b [ t ,1 ya t'1'. , se i CO s #t b � .l k}W , ' $ t r(:fh �.'�... n 4 Q 4. 5 ; a 4-,--. .,;/i..-:,.-- y -,.'""*.;.1;.,14` &�-`a n{ " °b i`. • •t�, C''i , ) �Xc ' 3F t �?� 6F`� jlf x k. • f ' � �„ i P z - 'l era'F •I]‘ ', b a 4"t M ^t' p[ f{ j IV _.`Y � I t. 'l Y'fit 1r ,,sdg. as xP {...� F` a .3. Y€ 1 fit ., B* fl'k `i°w- Y $t:".l" l`'r., .1i` .;;l y„ �1. ° 791' r. bi M ?Al,S.b -f.. - r l+ 1 y 1; Mw s. 4 ai it It.:;i ,var -4,4144,74, l ;' d ' yy r B q�1 � J.T t { `'` )� Lessee Jill' b r_vel teas below plow depth. Lessee shall ,<t ....a resent sufficient- •,� 1 � z k ,r }?� g �, �iy� casing to protect the r•sh pater wells at the area. tiaC� q. It, ,,'; .9 n Ys1i t. BI r 4a rprR,. 17. NOTIFICA IO lessee shall notify lesser and the surface lessee or surface own. of the location ' w,yt¢+ x rr' ;has ' of each drill site at least two weeks prior to consenting drilling operations thereon. L e shall notify srfy '4•`^ ar <I�1;e, I s`fa' Lessor before .. erns rn plug and abandon any well by copy of Lessee's request for approval or ndry S k `t %8tt C , t notice of intent to plug and abandon. v42rIri '*h s�a ( r. 8 [O iy, 'g/d y f. `E e a a wet•` , 18. BONDS Lessee shall be liable for all damages to the surface of the land, livestock, growing ti m L.....,,:- C . w T.4., crops, water wells, reservoirs, or improvements caused by Lessee's operations on said land. no operations m in 1'7f: ry ' " ? shall be commenced on the land hereinebove described Unless and until Lessee shall have filed a good and $ C.9 'Y M sufficient bond with Lessor, in en amount to be fixed by Lessor, to secure the payment for such damages as n _ 3 g y: may be caused by Lessee's operations on said land and to assure compliance with all the terms and provisions k<O WN tit 'v'%4; of this lease, the laws of the State of Colorado, and the rules and regulations thereto appertaining. A bo y,[4B ,,, . bond may be held in effect for the life of production of any well. W !titer: r':, a,.l ti A r 5^-S. u W 19. SETTLEMENT - Lessee shall not remove any machinery, equipment or fixturesplaced on said land, Q N r , M 4.„,.:,(R,,4„.. <;. other than drilling equipment, nor draw the casing from any well unless and until all payments and N e pr1 {y s e P45 Pc.f.",1 obligations currently due Lessor under the terms of this lease shall have been paid or satisfied. Any H la L j � +. MF machinery, equipment or fixtures left on this ]end for a period of more than six (6) months after the ,y r.., t q4 *(n ;r+•; expiration hereof, shall automatically become the property o£ Lessor. fx3 , y tty x iris , 1 � 4 . n.�• 20. OTHER DISCOVERY - Should Lessee discover any valuable products other than oil and gas, on or w-, x any# r i.4 P. Y:. within the leased land, Lessee shall within seven (7) days report such discovery to Lessor, in which event O ^{ J - Lessee and Lessor may negotiate a provision for production of much discovery. C) . 21. WATER - This lease does not grant permission, express or implied, to Lessee for water exploration, 0 5 ;.HA ' drilling, or establishing water wells without the written permission of the surface owner. If Lessor is the MN ,a surface owner, said permission shall not be unreasonably withheld. If Lessee desires to establish or ,p 0 (;-{, (i`' Y adjudicate any water right for beneficial use on the leased land, any such adjudication or application shall C R"},aesy3' be in the name of Lessor if Lessor is the surface owner. The same shall apply to any nontributary water 01 O icy,,( :^ rights established on the leased land which may be put to beneficial use off said land. O I x u y'. t! t ) 22. DEFAULT - Upon failure or default of Lessee to comply with any of the [eras and provisions hereof O •. 1 r including but not limited to the failure to comply with laws, rules and regulations governing Colorado oil ow i S[; "„,,,,,,,,,t j and gee operations, Lessor is hereby authorized upon notice and hearing, as hereinafter provided, to cancel +; this lease as to all of the leased land so claimed or possessed by Lessee hereunder. In the event of any r k' such default or failure, Lessor shall, before making any such cancellation, send to Lessee by certified 1 i 4 , ' mail, to the post office address of said lessee as sham by the records of Lessor, a notice of intention to 4 ti t cancel for such failure or default, specifying the same, stating that if within thirty (30) days from the )F r+ date of mailing said notice, Lessee shall correct such failure or default, no cancellation will be made. If such failure or default is not corrected within thirty (30) days after the mailing of such notice, and if t. t rg p c.' Lessee does not request a hearing on such notice within thirty (30) days, this lease will terminate and be ' r' I.- cancelled by operation of this paragraph without further action by Lessor, or further notice to Lessee. f 4 r 4 Bd atop" ...r t. • I f `14Sew • _, n �.. b f }• z t a _ 7' h i l v �.. i. •,� +a.M�}bi.afu .. ,. ,..W 4;ygp�^Y?'4a ...,w., ,. _. ..vJid L+ • as 4:l 7 • 4 Ys 'r, a er+ g b < I :00.'r< 7 + bi : tP 1 ;,s t ° ' F � x"P`^ 1x s s� S°�i" iaBr.Ialw St;:::,,4,44P�+3' "t ` y w ter c d f r,'I r 51x " .,."' +n , K p k i ‘.aeta `kev, i oY' ,, ,eqakF a ,p, rk- p�k,imy ` 4�' ,yr �, * ti '� ?¢m ,)7 f . #° �,it,w i. `4e ,vr Ngx�r, +R N. ' c rr e ift �' f rs 'Y; . "Lb ( C f.� ' car �, � u �, { > + d x,. � 1-4 � }( � rR� `"� � �= 4 t � N.a»�S.,.rajy�♦. � .a.�.a W �3 f _ rr " ,t',,r+( (.-) Z fir". d ( yy^ M Ol d y f,`tvb f I-, 5), e1 1 `afq 1 i-1 LO W fk; t� 4 7 t }S Y � � ?] t A , S 4M1 ,{. ,F lz�+.. ) FC IOv If lessee falls t eke discovery of oil and gas, or either of the f plying n �'p�,a) , a f 4 . a quantitiesci g the prirory term here or during drilling operations commenced during the p S.rry term ' a At s.,:, x ( fln6 G s t tic' hereof, L - ke written application to Lessor for an extension of this lease for a term q a_ to the SS'' o 4 i X'4' pri an' tern as to all or the miners' acres covered hereby (excluding any mineral an:es theretofore z w r'q ),!' surrendered as in the SIIRREIICER Paragraph provided, or assigned as in the ASSIGNMENTS Paragraph provided). n a s. .,,A, it, td )' The granting of north extension shall be at the sole option of Lessor at double the rental for the primary t,511.-0. is 1. r s y 2.i;. . d~*'?"- i tit y ten hereof. to • l'' In 'Ale "0+. ! w tss<t' x�t� !A O tl �I d : t)yry Fi3 § 24. HOLD HAR41FSg lessee shall indemnify Lessor against all liability and loss, and against all M\ ',AC?.'§i ��he sr, '* claims and actions, including the defense of such claims or actions, based upon or arising out of damage or ty a+ 1Aa,J4t s�*,3 wank t� :2 injury, including death, to persons or property caused by or sustained in connection with operations on this 2 '11`41:1, 9. .:II'''S c $.(Y ' leased land or by conditions created thereby, or based upon any violation of any statute, ordinance, or n eq is "Lk.,'44i r m` �rf. , r i' • ' s regulation. [d '� +`r,,) °1!�' r r v`£ f �44 04. ' ��" 25. CONO&sti\'AiION - If the leased land shall be taken in any condemnation proceeding, this lease shall to g-f.;',... 1<", ""Sr 40:: C a3 automatically terminate as of the date of taking. The award for such condemnation shall be paid to Lessor, 'u1 to F: 'li 'Ya 'fb s i x, p td { except for any specific award(a) paid to Lessee for severed oil and gee reserves, in which event f) `' 3 !' o met frs 41-'''" t rig', 2),08 of such specific award(s) shall be paid to Lessor in lieu of royalty lost by virtue of the 4 ry11 ti condemnation. Improvements shall be removed by Lessee per terms in the SETTLEMENT Paragraph herein. If t,i<,., %,,I1 s' #J&, ''f41,1 ?1,e '03:R only a portion of the leased land is taken by condemnation, Lessor may, at its option, terminate this lease %u? '');,44,4",,, Y: s•;r .5 ,t'5i or terminate only that portion of the lease so taken. 0 ". A''ti. zgtitAtI41” CI•-•=0,,,k,,„;s� 26. ERRORS - Every effort is made by Lessor to avoid errors Sn all procedures including but not O ,i ,..,„,„,,,t,-,,' Eta yv;` limited to auction listings and lease preparation. Lessor shall not be liable for any inconvenience or loss 2...._""I .,*y �:.kx d k++.(k�`�"� caused by errors which may occur. Lessee shall notify Lessor Immediately upon dlseorery of any errors or (]o a ' x a c t discrepancy whatever. 0 0 -.44.4'-:'14 a s's e yrd fr$ � �qqct .3{ s R "-E as ao, 27. ARCHAEOLOGY - Lessee shall not destroy, disturb, mar, collect, remove or alter any prehistoric orNw' 3 e 6; ,• S. historic resources of any kind on Weld County lands as provided by law. These resources include but are rot k ,y u . S limited to all artifacts of stone, wood or metal, pictographs, structures, and bones. A.discovery of f a 3 yfs q it anything of prehistoric or historic nature shall be reported to Lessor or the State of Colorado ¢s‘4.144:4,)'' . �3' ya e' Archaeologist fmaedfately. a ( ?y, I a' aa.r,, :'4..-'):44f'° Y ,,. 28. DEFINITIONS - ' e x "oaf^e' $ Ad 1 aro.. mb (a) "Coe" as used herein shall mean all gases (combustible and nonceuetible), including but not I. "A #>Y'}. w I limited to all gaseous hydrocarbons, gaseous compounds, carbon dioxide, and helium. Ap 1 .. �s. C M1` b k•f .l: / eat (b) "Oil and gas" as used herein shall include all substancesproduced asT d''' '*,"lei �` by-products therewith, Fk;�. including but not limited to sulfur. " i , fe $ '�- (e) 'Raying quantities" as used herein shall mean and refer to quantities of oil and gas or of % '. r '(. ,e 'I .G., either either of them sufficient to pay for the current cost of producing same. tit( j' €art )& .• "r I ssgwl: �s n. .. 111 ', ` 29. HEIRS AND ASSIGNS - The benefits and obligations of this lease shall inure to and be binding wpm � 4,,4 p' .:C:.4‘ t the heirs, legal representatives, successors or assigns of Lessee; but no sublease or assignment-hereof, orj..4„,,.*„.,, 1 �,a y�blt of any interest herein, shall be binding upon Leeaor until the same has been approved by Lessor as explained } r gilt. i in the ASSIGNMENTS' paragraph provided. 40,4 891054 Sk f ps' t ho ,';:dillies',".. a4. `` Y ! 2y% ''qe� 1 .y k P (* 12 ).I ? e _= • a tlw+ 1 a urab'+r(y�r ,yR,.,, Y,, .o ., .r .e.,wrs.,y.,ie.wy.+Y .;.:/� 4.pe. y+ ,}ayx✓ ¢G.:»aaa.a,a,a, w'a 'msb'Aas'Fa{d''N%+ n y1ds3H4�N8kt eYib ri t # i'.$5aa4't S }S u° #�' `1 "S�kt . .. 'G.+w.">�.j�t fieC).;w..SYx.°.a.: .. '.`,r i- ..,. ... .>.. e 1 ')''els+y 3dr"i5d e / • } vN Y ) V f 30. WARRANTY OF TITLE - Lessor does not warrant title to the leased premises, Ouc St shall, upon 4 p,'rk". },y request, allow Lessee access co such abstracts and other title papers as It has in its files. There shall } t 3 .,,c 'ft 1O1.' . i be no obligation on Lessor's part to purchase new or .upplemsnral or other title papers nor to do any 1. it`.a curative work in connection with title to the subject lands. All abstracts of title, whether new or d A f 5)4.1/4.4xy supplementary, obtained by end covering the subject lands shall become the property of and be I. r.' kr, delivered to Lessor after Lessee has completed its title examination and curative work, subject, however, to j Y s 1 , T a+ the right of Lessee to use such abstracts upon request at any time during the term of the Lease. .pw a t� x i 1 r } t}m;-' % IN WITNESS WHEREOF, lessor has hereunto signed and caused its name to be signed by the BOARD OF COUNTY II m x`a4 rr n ,, . xa,%A ill'awith the seal of the office affixed, and Lessee has signed this ,•s,•, , 5A R'*'b n CQ eamentNERS OF Tan COUNTY first WELD, MO sas! r It"`K agreeamnc, the day and year above written. a a -WoriTAIO I4.,4 s' pg VlK { Y I:4% f BOARD O► COUNTY COtWISS10NERS y'�pyp ,t, r"T. 7". ry„ . 3" WELD COUNTY, COLORADO Art i g r r Sys ;,jk ,5. B a t }ills w 'it, �`^tx i '9a Y`r T{`� 3 n ` s' KZu 0 I �fA AaAAL.+/1 ),s, /mow L' / 'h' aY, '# r k u/ 0 �y,y �, :cf'9:iriie }� Weld County Cle • corder L Nr+ '*p y, and Clark to Chu I ,1 x Flifs '. ,t a "'Q� 'iv.. oz. r Y to #*4 i f r ��1ky' f� , x � �-.' �"' NT spa Y , �� `d2' x *s.~ , - , Inc. tassEE: Conquest Oil CaLQmi�,° n a'° 4 �. 1 s. fay; 71� 'ri t,sxiF�d�' l ./U i17iY1 �1�" � I rt � 4 i rf •-'tn y� Otn}). 1/'1'.l� _i 0 r !W ' g , - • A }i •1 `' V, ClN' • { prim ' I.#• °fix rd a Bj,f. E ... ,couiirt,A-� 1f) SS. da of JaRllary 'Y ff e r.DI o •a/1�, • w`. p0 lyat s t m ry :2 # F the foregoing instrument vu acknowledged before w this 10th y O f- 19 86 by Bruce B. White and Wilbert Wiedesran. o alp , , b. W 9 'i,,",,' Witness my hand and official seal. Q § '-` My Commission [spins: 11-1-86 4r 'j�' yc. bJr • d �41 - 'J° Ar3 k�)- '�� a}d , , /V,STRO Notary Public ^ r , r ' RI e- y 4of a,*4s • s ,WJ x { .• 01•04* t ` fU. 0•44Z1 : o � z� s �, t •Ar E Of +a,e ' a a kW'', ri • A� 891054 ;, ) r ll 1 b4-^ Y` ^, fifii 'I•14, SLb F Y :41 } .Jf'zi4M' .,F: 'j c � r `4Y / Y � wl rau�:..'N 4 i t .ll ire f < - e y l•A S i ,ii .9A ^'- ) } V,3 IIb I, y y (" r f' ri ma ass ' i r it( t Y (I' EXHIBIT "A" , , , This exhibit is attached to and made a part of that certain oil and gas 3 # lease dated De'cenber 19, 1985 by and between Weld County, Colorado, LESSOR � ( and Cadre Exploration, Inc., and Conquest Oil, LESSEES. f ` 3 I TO ISHIP 5 NORTH, RNCE 65 WEST, 6th P. M. I ,. Section 12: That part of theNorth Half (O1) of the Southeast Quarter (SEa) t (( of Section Twelve (12), Township Five (5) North, Range Sixty-five f ' a stri of land 50 feet in width , w (62) feet of eac 6th e. f t eeieg P ' ry t 25 feet an each side of the center lire described as follows: ni o , SSS; 4 �L�cing at a point 200.5 feet South of the center of saig W e ( Section; Thence South 85° 2' Fast 179 feet; Thence North 72 49' ..,o ; i� }, East 287 feet; Thence North 83° 56' East 501 feet; Thence North !!{ `�' ): 59° 36' East 228 feet; Thence North 76° 23' East 87 feet; & of the North half (Nss) of the pe I , + s" together he with al f( that part o C { Southeast Quarter (SEAL) of said Section lying North of Said Ne ' f 'r '" described right-of-way, containing appr�ma�y 4.0 acres, u , sore or less. �V l"i ' , Also, all of the right, title and interest which first parties have N ru p t°€ in and to that. irregular' road w'y' as ollaaidsouttuaarid u used f g t " _ T bv: being in the Southeast quarter Sixty-five (65) ' P ,I, Y � P Section twelve (12), Tawnship Five (5) North, Range ixty- ,y.. , r Fxw t.t� West, of the 6th P. M. extending in a northerly, direction 2\ r a from the county road and Hyle Bridge to the North boundary a F . s line of said Southeast quarter of the Southwest quarter and gm y? a tic. ` containing about a acre, see or less. ef f�$.�[ n. ti { os, re , r oa '' In rx ^ d l` i ter rasa t s < a , W flit; t to O ii-,*4',-t-,4 j L ' i y ii n C.i 'i' �4 k,'�i 'A4 = rya r' -puts ,,�t c a rY i 11.)-''. _ . �L.. i9$ �$$ } " a <I,''' f r i.,,, Sd(:, F s de t t a,Y', ' ra r •r, I,, III 4 t 4 - I, aw a.va a- ktilik' .1 .1 7'...;7!I. f,I. liita l y 3 Y 891054 t4.' `'' 3 ' o n k . i t ga M op, Y C( "x $ 3# i" { A,,¢ S 4 w a � r' , ` ' Yes psi Ta I LYCO ENERGY CORPORATION 12770 Coit Road, Suite 615 / Dallas, Texas 75251 Telephone (214) 661-0757 February 2 , 1989 OwipTelecopier (214) 239-0126 F E B 81989 Ms . Mary Reiff Deputy County Clerk Weld County, Colorado Board of Land Commissioners ., Weld County Centennial Center 915 - 10th Street Greeley, Colorado 80631 RE: Weld County Oil & Gas Lease ( Lyco #F09-001-002 ) Sec. 12-T5N-R65W Weld County, Colorado Dear Ms . Reiff: We are enclosing a partial copy of that certain Assignment conveying Cache Exploration, Inc. ' s interest in the above- captioned property to Lyco Energy Corporation et al. Please be advised that Lyco manages these properties for all parties to the Assignment . As a result of mesne conveyances , Lyco et al owns the leasehold rights in subject lease as it pertains to the S/2 SE/4 of 12-5N-65W, while Conquest Oil Company holds the rights to the SE/4 SW/4 of said section. If we can be of further assistance or, if additional information is needed, please advise. Very truly yours , LYCO ENERGY CORPORATION Kathy wer, C.D.O.A. Land Administrative Analyst KB:dl Enclosure 891054 G i AR21354?;, B 1190 REC u2135478 03/24/88 16 :44 ;174.00 1/058 /7" F 0846 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO ASSIGNMENT, BILL OF SALE AND CONVEYANCE THIS ASSIGNMENT, BILL OF SALE AND CONVEYANCE (this "Assignment" ) from CACHE EXPLORATION, INC. , a Colorado corporation (herein called "Cache" ) , DELLCO INVESTMENTS , LTD . , a Colorado Partnership (herein called "Dellco" ) and the entities listed on Schedule I hereto, each a Colorado Limited Partnership of which Cache is the General Partner (herein called the "Partnerships" ) (Cache, Dellco and the Partnerships are hereinafter collectively called the "Assignors" ) to LYCO ENERGY CORPORATION, a Delaware corporation (herein called "Lyco" ) , LYCO ACQUISITION 1984 LIMITED PARTNERSHIP, a Texas Limited Partnership (herein called "84 Partnership" ) , LYCO-N ACQUISITION 1988 LIMITED PARTNERSHIP, a Texas Limited Partnership (herein called "Lyco-N Partnership" ) TBC ENERGY CORPORATION, a Texas corporation (herein called "TBC" ) and JAMES E. REDMAN, a resident of Dallas , Texas (herein called -"Redman" ) (Lyco, the 84 Partnership, Lyco-N, TBC and Redman being hereinafter collectively referred to as "Assignees" ) . W I T N E- S S E T H WHEREAS, Assignors are the owners of interests in and to the oil and gas Leases described in Exhibit A attached hereto and made a part hereof , and by Virtue of such interests are the owners of the interests in the land and wells described in Exhibit B attached hereto and made a part hereof , as well as the personal property, interests and rights associated therewith hereinafter set forth; and NOW, THEREFORE, for and in consideration of the sum of Ten Dollars ($10 . 00) and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and subject to the reservations described hereinbelow, to the further terms hereof and to all valid and subsisting royalties , overriding royalties and similar burdens , Assignors do hereby GRANT, BARGAIN, SELL, CONVEY, ASSIGN, TRANSFER, SET OVER and DELIVER unto Assignees , their respective successors and assigns in the following percentages set forth below opposite the name of each Assignee, to wit : Lyco 0 . 5% 84 Partnership 55% Lyco-N Partnership 35% TBC 3 . 8% Redman 5 . 7% 100% the following rights , interests and properties (collectively referred to as the "Subject Interests" ) : (a) All of Assignors ' right , title and interest of whatever kind or nature, including, but without limitation, overriding royalty interests and working interests, in and to the oil , gas and mineral leases or oil and gas leases and other mineral rights and interests described on Exhibit A attached hereto and made a part hereof (herein called the "Subject Leases" ) . (b) All of Assignors ' right , title and interest in and to ( i) the oil and gas wells described on Exhibit B attached hereto and made a part hereof (herein called the "Subject Wells" ) and ( ii) the units, pooled acreage, drilling and spacing units created for the Subject Wells (herein called the "Subject Units" ) . (c) All of Assignors ' right , title and interest in and to all mineral leases , and all other mineral rights and interests 891054 B 1190 REC r 15478 03/24/88 16:44 S -'74 .00 2/058 F 0847 MARY ....N FEUERSTEIN CLERK & RECC .R WELD CO, CO (whether described on Exhibit A or not) which cover or affect ( i) the lands covered by the Subject Leases and ( ii ) the lands described in Exhibit B (herein called the "Subject Lands" ) . (d) All of Assignors ' right , title and interest in and to all units , pooled acreage, drilling and spacing units ( including, but without limitation, the Subject Units) or other allocation of acreage established by, or in accordance with, applicable state, federal or local law, which include any part of the Subject Lands . (e) All of Assignors ' right , title and interest in all oil , condensate or natural gas wells, water source wells , and water and other types of injection wells , whether producing, operating shut-in, or temporarily abandoned, and all equipment located on or used or held for use solely in connection with the production of oil , gas and other minerals from the Subject -Lands and all oil , gas and other minerals produced therefrom (the interests described in paragraphs ( a) , (b) , (c) , (d) and (e) above are hereinafter called the "Properties" ) . (f) All of Assignors ' right , title and interest in all physical facilities or interests therein, including; but not limited to, any tanks , tank batteries , disposal facilities buildings , structures , field separators and liquid extractors , compressors , pumps , pumping units , valves , fittings , machinery and parts , engines , boilers , meters , apparatus , implements , tools , appliances , cables , wires , towers , casing, tubing and rods , gathering lines or other pipelines , field gathering systems and any and all other fixtures and equipment of every type and description to the extent that the same are located on or are used or held for use solely in connection with the ownership and operation of the Properties . (g) All of Assignors ' right , title and interest in all lands , tenements , appurtenances , surface leases , easements , permits , licenses , servitudes and rights of way in any way appertaining, belonging, affixed or incidental to or used or held for use in connection with the Properties . (h) All of Assignors ' right , title and interest in all leases , options, rights of first refusal , farmout agreements title insurance policies , security agreements , financing statements , contracts , operating agreements or other agreements and instruments to the extent that the same relate, appertain, belong or are incidental to the Properties . ( i ) All of Assignors ' right , title and interest hereafter acquired in the Properties , to the extent necessary to grant to Assignees the interests described in Exhibits A and B. (j ) All permits , franchises , licenses , leases , water leases, servitudes , easements and rights-of-way pertaining to any of the Properties . TO HAVE AND TO HOLD all and singular , the Subject Interests, together with all and singular the rights , hereditaments and appurtenances thereto in anywise belonging unto Assignees , their respective successors and assigns forever , subject as aforesaid. There is reserved specifically from the interests conveyed hereby to TBC and Redman (and not to be borne by the interest of any other Assignees) , (a) deferred working interests affecting the interests in the Subject Interests assigned to such parties hereby equal to (i) 25% times 100/95 (or 26 .3157895%) of the interests respectively conveyed hereby to TBC and Redman, which deferred leasehold interest shall be effective upon the occurrence of "Payout No . 1" , as hereinafter defined (hereinafter called the "Payout One Interest" ) and -2- 891054 • B 1190 REC 02135478 03/24/88 16:44 $1 . ..00 3/058 F 0848 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO ( ii ) an additional 10% times 100/95 (or 10 . 5263158%) of the interests respectively conveyed hereby to TBC and Redman, which deferred leasehold interest shall be effective upon the occurrence of "Payout No . 2" , as hereinafter defined (hereinafter called the "Payout Two Interests" ) and (b) an overriding royalty interest in the amount of 1% of 8/8th, to be effective upon the occurrence of Payout No . 1 , proportionately reduced to the interests conveyed to TBC and Redman hereby (herein called the "Lyco ORI" ) (the Payout One Interests , Payout Two Interests and Lyco ORI are hereinafter collectively called the "Reversionary Interests" ) . Until the occurrence of Payout No. 1 and Payout No . 2 , respectively, all costs and expenses attributable to the Payout One Interest and the Payout Two Interests shall be respectively borne by, and all revenues attributable to such interest (and the Lyco ORI ) shall be respectively distributable to, TBC and Redman. From and after the occurrence of Payout No . 1 and Payout No . 2, respectively, -the Payout One Interest or Payout Two Interest shall ,respectively bear their proportionate part of the costs and expenses , and such interests (and the Lyco ORI ) shall be entitled to receive their respective proportionate share of all revenues , and shall bear their proportionate part of all applicable lease burdens , ( including without limitation, the Lyco ORI ) . As used herein, the terms "Payout No . 1" and "Payout No . 2" shall have the meanings ascribed to such terms (a) with respect to TBC, as set forth in that certain Letter Agreement dated March 17 , 1988 , by and between TBC and Lyco and (b) with respect to Redman, as set forth in that certain Letter Agreement , dated March 17 , 1988, by and between Redman and Lyco . For and in consideration of the same consideration received hereinabove, and at the direction of Assignees , Assignors do hereby GRANT, BARGAIN, SELL, CONVEY, ASSIGN, TRANSFER, SET OVER and DELIVER THE Reversionary Interests unto LYCO. This Assignment , and the warranties of title set forth below, are in all respects subject to the burdens imposed thereon or relating thereto that are reflected in the calculations used to determine the Working Interest and Net Revenue Interest percentages set forth in Exhibit B . Assignors represent and warrant that : A. Each Assignor has good and marketable title to : 1 . Such interest in the Subject Leases described on Exhibit A sufficient to entitle such Assignor to the Working Interest and the Net Revenue Interest in the Subject Lands and the Subject Wells shown in Exhibit B hereto. Such interests are not subject to increase, decrease, suspension or termination during the term of the leases described in Exhibit A, except as set forth in Exhibit B . With respect to such interests which are shown on Exhibit B to be subject to change at payout (BPO = before payout ; APO = after payout) , such change will or has occurred upon the recovery, by the party entitled to the same, of a sum of money from the proceeds of production from the applicable well or wells . The term "Working Interest" or "WI" , when used herein, or in any of the exhibits hereto, shall mean the ownership of an interest , expressed as a percentage or decimal , in a Property and correspondingly expresses a share of the cost of operations , development or production for and by the owner of such interest, and such owners share of ownership of equipment . The term "Net Revenue Interest" or "NRI" , when used herein or in any of the exhibits hereto, shall mean a share of the proceeds of production, expressed as a percentage or decimal , from or attributable to a Property net of all royalties , overriding royalties , production payments or other burdens on production -3- 891054 B 1190 REC 021 .78 03/24/88 16 :44 $1', _.00 4/058 F 0849 MARY ANN FEUERSTEIN CLERK & RECORDER WELD deg or other non-operating interests attributable thereto ( other than those being assigned hereunder ) . B. Each Assignor has the unrestricted authority to execute and deliver this Assignment , including, without limitation, the authority to sell , transfer , deliver and assign all of Assignor ' s interest in the Subject Interests and to warrant title without the consent of any other party. C. The Subject Interests are not subject to any mortgages , security agreements , financing statements , liens , burdens or encumbrances of any kind, except liens for taxes and assessments of special improvement districts not yet delinquent . D. Assignors will defend Assignee ' s title to the Subject Interests , to the extent of Assignors ' interest therein, against all claims and demands of any persons whomsoever , except as to easements , rights of way, servitudes , surface =leases and other rights in respect of surfac ? operations , ditches , canals and reservoirs either of record or apparent from inspection, and except with respect to the right of any person to reassignment of any of the Subject Leases in the event of surrender by Assignee. Assignors ' liability to Assignees for breach of the warranties herein contained shall be limited to the consideration paid for this Assignment , being that portion of the "Assigned Value" of the affected "Property" , as such terms are defined in that certain Agreement of Purchase and Sale dated January 26 , 1988 , by and among Cache, Dellco and Lyco . The representations and warranties herein contained shall be in addition to, and shall not supersede, the representations and warranties of Cache and Dellco contain-rd in the Purchase Agreement . In connection with the equipment , fixtures and other personal property forming a part of the rights , properties and interests conveyed and assigned hereby, Assignors MAKE NO WARRANTIES , EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, MAKING NO WARRANTIES WITH RESPECT TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF SUCH PROPERTY. Assignors and Assignees agree to execute and deliver all such other and additional instruments , assignments , notices , division orders , transfer orders and other documents , and to do all such further acts and things as may be reasonably necessary to accomplish the purposes and intent of this Assignment . The provisions hereof shall inure to the benefit of and be binding upon the parties hereto , their respective successors and assigns , and shall constitute covenants running with the respective estates of the parties in the Subject Interests . This Assignment is made with full substitution and subrogation of Assignees , their respective successors and assigns, in and to all covenants and warranties heretofore given or made in respect of the rights, properties and interests conveyed and assigned hereby. This Assignment may be executed in several counterparts , each of which shall , for all purposes , be deemed to be an original and all of such together shall constitute but one and the same instrument . IN WITNESS WHEREOF, this Assignment is executed this / 8 day of March, 1988, effective as to runs of oil and deliveries of gas and for all other purposes as of 7 a.m. Mountain Standard Time on January 1, 1988, except with respect to Properties which at such time had not been acquired by -4- 891054 B 1190 REC 35478 03/24/88 16 :44 74.00 5/058 F 0850 MARY ANN FEUERSTEIN CLERK & RECUtDER WELD CO, CO Assignors, in which case this Assignment shall be effective at the effective time of Assignors ' acquisitions of such Property. Address of Assignees : CACHE EXPLORATION, INC. Lyco Energy Corporation 12770 Coit Road, Suite 615 By: 4C-0/2,1,:/___ Dallas , Texas 75251 ack Schrieber President Lyco Acquisition 1984 Limited Partnership c/o Lyco Energy Corporation 12770 Coit Road, Suite 615 Dallas , Texas 75251 ,Lyco—N Acquistion 1988 DELLCO INVESTMENTS, LTD. Limited Partnership c/o Lyco Energy Corporation 12770 Coit Road, Suite 615 D Dallas , Texas 75251 By: aczck�,Schrieber Ad-•- Managing Partner TBC Energy Corporation CACHE EXPLORATION, INC . , as First Republic Bank - Elm Place General Partner of each of 1401 Elm Street - 46th Floor the nerships listed on Dallas , Texas 75201 Schedule I hereto James E . Redman 2550 Walnut Hill Lane By: J ck Schrieber Dallas , Texas 75229 president THE STATE OF COLORADO § § ss COUNTY OF WELD § The foregoing instrument was acknowledged before me this JgHLday of March, 1988 , by Jack Schrieber , as President of Cache Exploration, Inc . , a Colorado corporation . WITNESS my hand and official seal . Notary Public in and for t = Stat = of Colorado �\ (\ \} (printed name) 1 7 ;••"My•. pmmission expires : 441 v ' HARY • _ PtiSiel • T E °` 891054 -5- B 1190 REC 02''5478 03/24/88 16 :44 $1 "' ,00 6/058 F 0851 MARY A FEUERSTEIN CLERK & RECOR. .. WELD CO, CO THE STATE OF COLORADO § § ss COUNTY OF WELD § The foregoing instrument was acknowledged before me this \g''- day of March, 1988 , by Jack Schrieber , as the Managing Partner of Dellco Investment , Ltd. , a Colorado partnership, on behalf of such partnership. WITNESS my hand and official seal . Notary Public in and for t - Sta - of Colorado'M ; "r% (\rrr, rar-Q\ (printed name) 'y_ commission expires : hn.•,5/2 - 44.•••', A.1`.' — °N\ w -/ tTE r, THE STATE OF COLORADO § § ss COUNTY OF WELD § The foregoing instrument was acknowledged before me this \Ar`a- day of March, 1988 , by Jack Schrieber , as President of Cache Exploration, Inc . , the General Partner of each of the limited partnerships listed on Schedule I hereto , all of which are Colorado limited partnerships , on behalf of each of such partnerships . WITNESS my hand and official seal . fl _ ! w Notary Public in and for t tat- of Colorado Inn ; t L.-.\ (printed name) vOlVi,p ommission expires : O .• ' ••1i — 4v; ,�p,RY - 1 °' \ r :. sTAT E .{ -6- 891054 B 1190 REC 02135478 03/24/88 16 :44 $17"" 10 7/058 F 0852 MARY M 3UERSTEIN CLERK & RECORD. HELD CO, CO SCHEDULE I C E I - G E R R Y CEI - H O S H I K O LTD. CEI - 19 8 3 NO. 2, LTD. CEI - 1983 NO. 4, LTD. CEI - 19 8 3 NO. 5, LTD. CEI - MIN INGERVPFE IF - WAGNER/EHRLICH, LTD. CEI - REEMANMAXEY, LTD. CEI - SCHMIDT, LTD. CEI - MININGER, LTD. CEI - 1984 NO. 3, LTD. CEI - 19 84 NO. 4, LTD. CEI - MAXEY NO. 2, LTD. CEI - 19 8 5 NO. 1, LTD. C E I - 1 9 85 N O. 2, L T D. C E I - 19 8 5 N O. 3, L T D. CEI - 19 85 NO. 4, LTD. CEI - 19 85 NO. 5, LTD. 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