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AR2010372
WELD COUNTY OIL AND GAS LEASE ••• . • . . •
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AL, 4 net mineral acres , more or less :
;. 4 Containing 95 • -
4 ' •. , 19 8 5 , made and entered '
• - : . s THIS LEASE AGREEMENT , dated this 15th day o . May ' _ l'
into by and between WELD COUNTY , COLORADO , a political subdivision of the STATE OF COLORADO , acting by and •
t. ' ' through the BOARD OF COUNTY CO`NISSIONERS OF THE COUNTY OF WELD , for its respective interests , c / o BOARD OF •
COUNTY CO NISSIONERS , WELD COUNTY CENTENNIAL CENTER , 915 10TH STREET , GREELEY , CO 80631 , hereinafter called • • -
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''.• Lessor , and : '
Nolburn Energy Company •
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5935 •
W . Mansfield Ave . , Unit 2 55
:.: •1 Denver , Colorado 80235 •
• • .1 herei :after called Lessee :
#.9 .- .-/t
WITNESSETH
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i 'It. WHEREAS , said Lessee •
ihas applied to Lesser for an oil and pas lease covering the land herein described , s
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and has paid a filing fee in the amount of S10 . 00 , plus a bonus consideration of S per mineral •
• •• • :; 6.
acre , fixed by Lessor as an additional consideration for the granting of this lease , and Lessee agrees to• �'
• • :4 pay an annual rental of S , 44 , computed at the rate of $_ 1 . 00 , per mineral acre or • , -
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fraction thereof per year . ` '
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WHEREAS , all the requirements relative to slid application haw.e been duly complied with and said
` application has been approved and allowed by Lessor , • •
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' • THEREFORE , in consideration of the agreements herein , on the part of Lessee to be paid , kept and
performed , Lessor does lease exclusively to Lessee for the hole and only purpose of drilling for , _
development of and production of oil and gas , or either cf then , thereon and therefrom with the right to own •
1"-. ...,- -......, all c it and gas so produced and saved therefrom and not reserved as royalty by Lessor under the terms of , .
this lease , together with rights - of - way , easements and servitudes for pipelines , telephone and telegraph '
' lines , tanks and fixtures for producing and caring for such product , and housing and boarding employees , and
• ' ' . - any and all rights and privileges necessary for the exploration and operation of said land for oil ' nd gas ,
•• the following described land situated in the County of Weld , State of Colorado , and more particularly
described as follows : • •
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DESCRIPTION OF LAND _ SECTION TOWNSHIP RANGE
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• . -•f NEON '1/4 , N1/2NE1/4 27 9N 62W •
• 70 HAVE AND TO HOLD said land , and all the rights and privileges granted hereunder to Lessee until the
, ' . hour of twelve o ' clock noon on the 15th day of flay , 1988 as primary term , and so long .ell e: ':. - ' .• .i - thereafter as oil and gas , or either of them , is produced in paying quantities from anid land or Lessee is : •
diligently engaged in bona fide drilling or reworking operations on said land , subject to the terms and • - . .
conditions herein . Drilling or reworking operations shall be deemed to be diligently performed if there is • • •,• •
*.. • no delay or cessation thereof for a greater period than sixty consecutive t! ays unless an extension in
1 writing is granted by Lessor ; provided that such drilling or reworking operations are commenced during said
r primary term or any extension thereof . r while this lease is in force by reason of production of oil and gas • . •
or either of them , or that such rewoi _: ing is commenced within sixty days upon cessation of production for •,
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the purpose of re - establishing the same , and provided further that such production is commenced during such •
primary term or any extension thereof , or while this lease is in force by reason of such drilling or •
• • reworking operations or other production . ..
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: • 1 L �Q l - _ F 0563 MARY ANN FEUERSTEIN CLERK & LEC0RDER WELD CO , CO
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• EXPLORATION - Lessor reserves the right to conduct exploration on the leased land provided such
exploration does not interfere with rights granted herein.
In consideration of the premises, the parties covenant and agree as follows:
1. RENTAL - If this lease is extended for an additional term as provided for in the EXTENSION
paragraph hereof, Lessee shall during such extended period pay to lessor an annual rental at double the rate
above specified for the land covered hereby. The rental in effect at the time production is established
shall not be increased due to the term of this lease being extended by such production. Rentals set at the
time of established production shall be paid during the remaining life of this lease, annually, in advance,
on or before each anniversary date hereof. There shall be no refund of unused rental.
2. ROYALTY - Lessee stall account for any and all substances produced on the leased land and Lessee
shall pay to Lessor as royalty, in addition to the rentals provided, but except for products used on the
leased land, unavoidably lost or flared on the leased 1 nd, with approval of Lessor, the following:
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-'l (a) On oil, 12!,1 of the oil produced and saved from the leased land.
At the option of Lessor, and with sixty (60) days' notice to Lessee, Lessor may take its
royalty oil in kind, in which event Lessee shall deliver such royalty oil to Lessor on the leased land,
free of cost or deduction, into the pipelines or storage tanks designated by Lessor, but Lessee shall
not in such case be required to provide free tankage for any such oil for a longer period than one •
month after the same is run into tanks. With sixty (60) days' notice to Lessee, Lessor may cane
taking oil royalty in kind. Wren paid in cash, the royalty .hall be calculated upon the fair market
value of the oil at the well w'..ich shall not be d-•med to be less than the price actually paid to
Lessee at the well by the purchaser thereof; and in no event shall the royalties be based upon a market
value at the well less than the posted price in the field for such oil, or in the absence of a posted
price in the field for such oil, upon a market value at the well less than the prevailing price
received by other producers in the field for oil of like grade and gravity at the time such oil is run
• into pipelines or storage tanks. •
(b) On gas, including casinghead tas or other gaseous substance, 121/2 of the fair ar' -t value
at the well or of the price received by Lessee at the well, whichever is greater, of all gas produced
and sold from the leased land or utilized ofi tin land by L . A copy of all contracts for sale of
gas shall be furnished to Lessor. Where gas is sold under contract that has been approved by Lessor,
the fair market value of such gas for determining the royalties payable hereunder shall be the price at
which such gas is sold unoer such contract. No approval by Lessor of the terms of any such agreement
shall operate to make Lessor a party thereto or obligate it thereunder in any way. At the option of
Lessor, and with sixty (60) days' notice to Lessee, Lessor may take its royalty in kind. With sixty
(60) days' notice to Lessee, Lessor may cease taking gas royalty in kind.
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(c) All costa of marketing the oil and/or gas produced thall be borne by Lessee and such costs
shall not directly or indirectly reduce the royalty payments to Lessor. Except that marketing costs
for Lessor's in-kind royalty shall be borne by Lessor.
(d) If Lessor owns a lesser interest in the oil and gas deposits of the above-described land than
the entire and undivided fee simple estate, then the royalties and rentals herein provided shall be
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paid to Lessor only in the portion which its interest bears to tae whole and undivided fee, but no
refund of any bonus consideration shall be made by Lessor hereunder.
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3. RECORDS - Lessee agrees to keep and to have in possession couple,* and accurate books and records
shoving the production and disposition of any and all substances produced on the leased land and to permit
Lessor, at all reasonable hours, to examine the same, or to furnish copies of same to Lessor upon request
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along with purchaser's support documentation. Lessor will not be unreasonable with requests. All said
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books and records shall be retained by Lessee and made available in Colorado to Lessor for a period of not
less than five years.
4. MEASUREMENTS - All production shall be accurately measured uelog standards established by the
American Gas Association (ACA) and/or the American Petroleua Institute (Ail) and all measuring devices shall
be tamperproof as nearly as possible. Oil royalties due within the terms of this lease shall be calculated
on actual and accurate measurements within API standards unless a different Means of sesdarement, Subject to
Lessor's approval, i1 provided.
5, PAYMENTS & REPORTS - All payments and reports due hereunder shall to mode on or before the day
such payments and reports are due. Nothing in this paragraph shall be construed to extend the expiration of 4
the primary term hereof.
e ' Oil royalty payments and supporting documents shall be susitted prior to the last day of the
:conch following each month's sale of production, and gas royalty payments and supporting documents shall be
submitted prior to the last day of the second moor] following each mouth's sale of production.
All payments shall be Jade by cash, check, certified duct or money order. Payments having
restrictions, qualifications, or encumbrances of any kind ssataoever shall not be accepted by Lessor. A
penalty for a late payment shall be charges as set forth in the PUALIILS paragraph herein.
6. PENALTIES - A penalty shall be imposed for, but not limited to late payments, improper paymen:a
operational deficiencies, violation of any covenant of this lease, or false Stateliest! sands to Lessor
Penalties shall be determined by Lessor unless otherwise provided for by law and may be 1a the form of, but
not limited to, interest, fees. finks, and/or lease cancellation. A penalty schedule atoll be prepared by
Lessor and shall become effective immediately after public notice. Said schedule may be clanged from tar
ti to time after public notice.
7. LAW - The terms and conditions of this lease shall be performed and exercised subject to all lm,
rules, regulations, orders, local ordinances or resolutions applicable to and binding upon the
administration of lands and minerals owned by the County of held, and to laws, rules sad regulations
governing oil and gas operations in Colorado. Violations shall result to penalties se provided for by lam
or at set forth in the aforementioned schedule or shall, at the option of lessor, result in default as
provided hereinafter.
8. SURRENDER - Lessee say at any time, by paying to Lessor all amounts risen due as provided herein,
surrender this lease insofar as the same coven all or any portico of the land herein leased end be relieved
from further obligations or liability hereunder with respect to the land so surrendered; provided that no
partial surrender or cancellation of this lease shall be for less then contiguous tracts of approximately
forty (40) acres or Governmental lot corresponding to a quarter-quarter section; provided !nether that this
surrender clause and the option herein reserved to Lessee shall cease and become absolutely inoperative
immediately and concurrently with the inaiitution of any suit in any court of law by Lessee, Lessor or any
• assignee of either to enforce this lease, or any of its terms expressed or implied. Is no case shall any
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surrender be effective until Lessee shall have made full province for Conservation of the 1 products
• and protection of the surface rights of the leased land.
9. ASSIGNMENTS -
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(a) Lessee, with prior written consent of Lessor, shall have the right to assign the entire
leasehold interest of said Lessee in all or part of the land covered hereby, hit not less, hoverer,
than contiguous tracts of approximately forty (W) acres or Corsranenral lot corresponding to •
quarter-quarter section for any partial assivemmt, and for approval of such assignment Lessor shall
make an assignment charge in an amount to Le determined by Lessor. Prior to written approval by Lessor
of assignment of this lease, L (assignor) shall not be relieved of its obligations muter the tern
and conditions herein. An assignment shall not extend the term of this lease. _
(b) If any assignment of a portion of the land cowered hereby shall be approved, a nee lease
shall be issued to the au•(gnet covering the assigned land, containing the sane tense and conditions as
this lease, and limited 'i to ten as this lease is limited, and the assignor shall be rel a and
• discharged from all furtt - obligations and liabilities as to that portion ye assig-ned.
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(c) Lessee shall notify Lessor of all assignments of undivided percents:* nr or - interests.
• Said interests will not be recognized or approved by Lessor, sod the effect n assignments
will be strictly and only between the parties thereto, and outside the terse .easel and no
dispute between parties to any such assignment shall operate to relieve Lessee .rfonance of any
texts or conditions hereof or to postpone the time therefor. Lester shall at all :ass be entitled to
look solely to Lessee or his *gel-neeshown es Its hooka as being the sole -seer hereof, and for the
sending of all notices required by this lease and for the performance of all terse and conditions
hereof.
(d) Although not binding on Lessor, all instruments of every kind and nature Metaeever affecting
this lease should be filed •'it the Lessor.
10. OVERRIDING ROYALTY - Any and all reservations or assignments or overriding royalties shall be
subject to approval by Le nor. The total of said overriding royalties shall not emceed 'ire pe (5'), •
including any overriding royalty previously provided for unless production exceed, . 'ly of
4 fifteen (15) barrels per day or ninety thousand cubic feet of gem per day (CO MC7/: ,he event that
production drops to this amount or less, any overriding royalties which exceed fin I -.ant (S\' may he
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suspended. Lessor's approval of a reservation or assignment of an overriding royalty shall not .red L
• for payment of said overriding royalty and shall not nllvve Lessee of ley of its sblisatiaa for payment of
royalties to Lessor as provided by ROYALIT parag.aphs herein.
11. OFFSET WELLS - Lessee agrees to protect the leased land from drainage by offset wells located en
adjoining lands not owned by Lessor, when such drainage is nnt coaeen...aced for by coueter-dralesge. It
shall be presumed that the production of oil and gas from offset wells results is drainage free the.leased
lard, unless Lessee demonstrates to Lessor's satisfaction, by engineering, geological, or other data, that
production from such offset vell does not result in wt1 drainage, or that the drilling of a well or wells
on :he leased land would not accomplish the purposes of protecting the deposits under the Ieased land.
Lessor's decision as to the existence of such drainage shall be final, and Lasso* shell comply with Lessor's
order thereon or surrender this lease as to any such undee loped acreage as designated by Lessor.
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12. DEVELOPMENT - Upon discovery of oil and gas or either of them on the leased lend, Lessee shall
} proceed with reasonable diligence to develop said land at a rate and to an extent commensurate with the
economic development of the field in which the leased land lies.
11. UNITIZATION - COM1UNITIZATION - In the event Lessor permits the land herein leased to be included
within a rommunitization or unitization agreement, the terms of this lease say be deemed to be modified to
conform to such agreement. When only a portion of the land under this lease is committed by en agreement,
Lessor may segregate the land and issue a separate lease for each portion not committed thereunder; the term
of such separate lease shall be limited as to the original term of this lease. The term of the lease on
that portion remaining in the unit shall be deemed to be modified to conform to such agreement.
Sonproducing leases shall terminate on the first anni ry date of t lease following the termination
• date of the unit or part thereof modifying the lease, but in no event prior to the end of the primary term
of the lease or the extension term of the lease.
• 14. PRODUCTION - Lessee shall, subject to applicable law, regulations and orders, operate and produce
• .cal wells upon the leased land so long as the same are capable of producing in paying gaantitles, and shall
operate the same so as to produce at a rate commensurate with the rate of production of wells on adjoining
lands within the same field and within the limits of good engineering practice, except for such times as
there exist neither market nor storage therefor, and except for such limitations on or suspensions of
production as may be approved in writing by Lessor. Lessee shall be respoe.aible for adequate site security
en all producing properties.
15. SHUT-IN WELLS - If Lessee shall complete a well on the leased land productive of gas and Lieges is
unable to produce such gas due to a lack of suitable market therefor, Lessor say grant Lessee suspension of
h his obligations to produce hereunder until a suitable market for such gas can be found, and during any such
suspension period, it shall be deemed that gas is being produced hereunder in paying quantities. Except,
however, that beginning on the anniversary date next, of the year of an extension of the lease by reason of
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a shut-in well, L hail pay to Lessor a shut-in royalty equal to St per acre el tie lease per annum in
addition to the annual rental. The minimum amount of such shut-in royalty payment shall be 1120. Each
'a year's shut-in royalty shall be forfeited to Lessor except for the shut-in royalty paid for the year during
which the well begins production. The sexism extension of the lease, due to the existence of a shut-in
well, shall be five years beyond the extension term as described 1n the tntNSlOM paragraph he, an. The
granting of any further extensions shall be at the sole option of Lessor.
16. OPERATIONS - No exploration, drilling or production operation, including permanent installations,
shalt be within 200 feet of any existing building or other improvement, including water well or reservoir,
• without the written permission of the owner of said improvements. Lessee shall keep a correct log of each
well drilled hereunder, showing by name or descriptita the formations passed through, the depth at which
each formation was reached, the number of feet of each site casing sec in each well, Mere met, and the
total depth of each well drilled. Lessee, within thirty (30) days after the completion or abandonment of
any well drilled hereunder, shall file In the office of Lessor a complete end correct log of such well,
together with a copy of the electric log and the radioactivity log of the well when such logs, or either of
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them, are run; and also a copy of all drill stem test results, core records and analyses, record of
perforations and initial production tests, if any. If any of the information required by this p ph is
contained in reports required to be filed with the Oil and Gas Conservation Commission of Colorado, the
requirements of this paragraph for such information 'ay be satisfied by much filing with said Commission,
except for copies of the reports as are required by the following paragraph, a.4 provided that all such
information is immediately available to lessor. Any proprietary information so submitted shell not be
subject to public inspectior. under Colorado law. •
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Lessee shall bury pipelines below plow depth. Lessee shall Set end cement sufficient surface
casing to protect the fresh water wells of the area.
17. NOTIFICATION - L hall notify Lessor and the surface lessee or surface owner of the location
of each drill site at least two weeks prior to commencing drilling operations thereon. Lessee shall notify
Lessor before commencing to plug and abandon any well by copy of Lessee's request foe Approval or sundry
notice of intent to plug and abandon.
18. BONDS - L shall be liable for all dosages to the surface of the lend, livestock, growing
crops, water wells, reservoirs, or improvements caused by Lessee's operations on said land. No operations
shall be commenced on the land hereinabove described unless and until Lessee shall have filed a good and
sufficient bond with Lessor, in an amount to be [teed by Lessor, to secure the psyment for such dsuagss as
may be caused by Lessee's operations on said land and to Assure compliance with all the terse and provisions
of this lease, the laws of the State of Colorado, and the rules and regulations thereto appertaining. A
bond may be held in effect for the life of production of any well.
19. SETTLEMENT - L hall not remove any aacbinery, equipment or fixtures ptae'd on said land,
other than drilling equipment, nor draw the casing from any well unless and until all payments and
obligations currently due Lessor under the terse of this lease shall have been paid or satisfied. Any
machinery, equip•,r'e or fixtures left on this land for a period of sore than six (4) months after the
expiration hereof, shall automatically become the property of Lessor,
20. OTHER DISCOVERY - Should L discover any valuable products other thee oil end gas, on or
within the leased land, Lessee shall within seven (7) days report such discovery to Lessor, in which event
Lessee and Lessor may negotiate a provision for production of much discovery,
21. WATEF - This lease does not grant permission, express or implied, to Lessee for water exploration,
drilling, or establishing water wells without the written permission of the surface owner. If Lessor is the
surface owner, said permission t ell not be unreasonably withheld. If Lessee desires to establish or
I ` , adjudicate any water right for br finial use on the leased land, any suds adjudication or application shall
be in the name of Lessor if Le, Jr is the surface owner. The sass shall apply to any nootrlbu: 7 water
right, established on the leased +and which may be put to beneficial use off said land.
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22. DEFAULT - Upon fella r default of Lessee to cosily with any of the terse and provisions hereof
• including but not limited to t lilure to coeply with lave, rules end regulations governing Colorado oil
tl and gas operations, Lessor is L ' authorized upon notice and hearing, as hereinafter provided, to cancel
this lease as to all of the lea, land so claimed or po by Lessee hereunder, Is the event of any
such default or failure, Lessor .11, before asking any such cancellation, send to Lessee by certified
mail, to the post office address c. said latest a shown by the records of lessor, a notice of intention to
cancel for such •failure or default, specifying the same, stating that if within thirty (30) Oars from the
date of mailing said notice, Lessee shall correct such failure or default, no cancellation will be node. If
7 such failure or default is not co;-ected within thirty (30) days after the sailing of such notice, and if
Lessee does not request a hearing co such notice within thirty (30) days, this lease will teraicate and be
cancelled by operation of this paragraph without further action by Lessor, or further notice to Lessee.
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27. EXTENSION - If Lessee fails to make discovery of oil and gas, or either of them, in paying
quantities during the primary ten hereof, or during drilling operations commented during the primary term
herenf, Lessee may nake written application to Lessor for an extension of this lease for a ten equal to the <
primary term as to all of the mineral acres covered hereby (excluding any mineral acres theretofore
surrendered as In the SURRENDER Paragraph provided, or assigned as in the ASSIGNMENTS Paragraph provided). •
The granting of such extension shall be at the sole option of Lessor at double the rental for the primary •
term hereof.
24. FOLD HARMLESS - Lessee shall indemnify Lessor against all liability and loss, and against all
claims and actions, including the defense of such claims or actions, based epees or arising oat of dasege or '
injury, includinn death, to persons or property caused by ar 'sustained in connection with operations on this
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leased land or 'y conditions created thereby, or based upon any violation of any statute, ordinance, or
QQ regulation.
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25. CONDEMNATION - If the leased land shall De taken in any condemnation proceeding, this lease shall
automatically terminate as of the date of taking. The award for such condemnation shall be paid to Lessor,
except for any specific awards) paid to I for d oil and gas reserves, is which event
XXXXXXXXXX of such specific awards) shall be paid Co Lessor in lima of royalty Inst by virtue of the
condemnation. Improvements shall be removed by Lessee per terms 1e the $LI•TSsaf Ptraprspb berets. If
only a portion of the leased land is taken by conoerestion, Lessor may, at its option, teninate this lease
or terminate only that portion of the lease so taken.
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26. ERRORS - Every effort is mad. by Lessor to avoid errors is all procedures Incledie. bet not
licited to auction listings and lease preparation. Lessor shall not be liable for any intenvenleMt or loss
caused by errors which may occur. Lessee shall notif' Lessor immediately upon discovery of any errors or
discrepancy whatever.
• 27. ARCNAEOLOg.re Lsasde,shall'eot Clairol, distur), mar, collect, remove or alter any prehistoric or
historic resources of any kind on Weld County lands as provided by law. These resources tucked* but ere not
limited to all artifacts cf stone, wood or metal, pictographs, structures, and bones. A discovery of a •
anything of prehistoric or historic nature shall be reported to Lessor or the State of Coloreds
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Archaeologist immediately.
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28. DEFINITIONS -
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. (a) "Gas" as used herein shall mean all a (combustible ad noncombustible), including but not
ij. limited to all gaseous hydrocarbons, gaseous coepwnds, carbon dlsaide, and helium.
(b) "Oil and gas" as used herein shall include all substances produced as by-products therewith,
including but not limited to sulfur.
(c) "Paying quantities" as used beret: shall seam ail refer to quantities of oil and'tea or of
either of them sufficient to pay for the current cost of producing same. '
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29. !MIRS Ahab ASSIGNS - The benefits and cbligations of this lease shall inure to end'bf binding upon
s; the heirs, legal representatives, successors or assigns of Lessee; but no sublease or dss)gnment hereof, or
of any interest herein, shall be binding upon Lessor until the same has been approved by Lesehr-as explained
in the ASSIGNMENTS' paragraph provided.
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30. tARAAHIR OF TITLE - Lessor does not verrant title to the leased premises, but it shall, upon
request, allow Lessee access to such abstracts and other title papers as it has is it. files. There shall
be no obligation on Lessor's part to purchase new or sapplemeetal or other title papers nor to do any
curative work in connection with title to the subject lands. All abstracts of;title, whether new or
supplementary, obtained by I. and covering the subject lands shall become the property of and be .
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delivered to Lessor after I. has completed Its title esainetina and curative work, subject, however, to
the right of Lessee to use such abstracts upon request at any tin during the term of the Lease.
In WITNESS W10:REOF, lessor has hereunto signed and caused its name to be signed by the )OAgD Of CoczLrf
CC`atI55I03ER5 OF THE COMFIT OF WELD, with the seal of the office affirmed, and Leases has signed this ,
agreement, the day and year first above written.
IOAtD Of COPS1T COM'NlUIQKkg
• van COtXIY, COLORADO '.
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Wild...pnf ;cli ii1 Recorder
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t.c7 11�iltrIfflGY (IM MO
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Ca Nolan Ashburn, President
STATE CF COLORADO )
) SS.
COUNTY OF WELD )
The foregoing instrument vas acknowledged before w this 24th day of Mal •
19 85 by Nolan Ashburn, President of Nolberp Energy Cajany, who did say that his enecuti•
. of said document was his free and voluntary act.
Witness my hand and official seal.
f :' S1� My Commission Expires: —Z-3—(31',4"
to "Y.aatutnngry, P �"" � .
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