Memorandum of Understanding and Schedule of Leases between Coastal Petroleum Company and United States Government (Valley County, Montana)
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Summary
This document is a Memorandum of Understanding that includes a detailed schedule of oil and gas leases in Valley County, Montana, where Coastal Petroleum Company is the lessee. The leases, granted by the United States government, specify the legal land descriptions, acreage, lease dates, and expiration dates, with most leases running from 2002 to 2012. The agreement outlines the rights and obligations of Coastal Petroleum Company to explore and potentially develop these lands for oil and gas purposes during the lease terms.
EX-10.1 3 exhibit10-1.htm MEMORANDUM OF UNDERSTANDING Filed by Automated Filing Services Inc. (604) 609-0244 - Western Standard Energy Corp. - Exhibit 10.1
Coastal Petroleum Company - Schedule of Leases
WEST VALLEY COUNTY ASSEMBLY
| Lease Number | Lessor Name | Lessee Name | Lease Date | Expiration Date | Gross Acres | Net Acres | Book | Page | Legal |
| 2 | USA MTM-91487 | Coastal Petroleum Company | 1/1/2002 | 12/31/2011 | 200.00 | 200.00 | T36N-R36E | ||
| SEC. 25: NWSW, S2S2; | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 4 | USA MTM-91732 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 2,249.32 | 2,249.32 | T36N-R35E | ||
| SEC 1: LOTS 1,2,3,4, S2 | |||||||||
| SEC 2: LOTS 1,2,3,4, S2 | |||||||||
| SEC 11: ALL | |||||||||
| SEC 12: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 5 | USA MTM-91734 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 2,164.01 | 2,164.01 | T36N-R35E | ||
| SEC 5: LOTS 1,2,3,4, S2 | |||||||||
| SEC 6: LOTS 1,2,3,6, E2SW, SE | |||||||||
| SEC 7: LOTS 1,2,3,4, E2, E2W2 | |||||||||
| SEC 8: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 6 | USA MTM-91733 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,940.64 | 1,940.64 | T36N-R35E | ||
| SEC 3: LOTS 1,2,3,4, S2 | |||||||||
| SEC 4: LOTS 1,2,3,4, S2 | |||||||||
| SEC 9: S2NE, SENW, S2 | |||||||||
| SEC 10: NE, SWNW, S2 | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 53 | USA MTM-92345 (MTM-91735) | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,280.00 | 1,280.00 | T36N-R35E | ||
| SEC 13: ALL | |||||||||
| SEC 14: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 54 | USA MTM-92346 (MTM-91736) | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,440.00 | 1,440.00 | T36N-R35E | ||
| SEC 15: NE, N2NW, S2SW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 55 | USA MTM-92347 (MTM-91737) | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 2,213.16 | 2,213.16 | T36N-R35E | ||
| SEC 17: ALL | |||||||||
| SEC 18: LOTS 1,2,3,4, E2, E2W2 | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 56 | USA MTM-91742 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,262.32 | 1,262.32 | T37N-R35E | ||
| SEC 4: LOTS 1,2,3,4, S2NE, N2SE | |||||||||
| SEC 9: W2, S2SE | |||||||||
| SEC 10: E2, E2W2, SWSW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 57 | USA MTM-91743 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,156.60 | 1,156.60 | T37N-R35E | ||
| SEC 7: LOTS 1,2,3, E2W2 | |||||||||
| SEC 8: E2E2 | |||||||||
| SEC 17: E2, E2W2, W2SW | |||||||||
| SEC 18: SE | |||||||||
| VALLEY COUNTY, MONTANA |
| Page 1 of 6 |
| ATTACHMENT A |
Coastal Petroleum Company - Schedule of Leases
WEST VALLEY COUNTY ASSEMBLY
| Lease Number | Lessor Name | Lessee Name | Lease Date | Expiration Date | Gross Acres | Net Acres | Book | Page | Legal |
| 58 | USA MTM-91744 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,000.00 | 1,000.00 | T37N-R35E | ||
| SEC 13: N2NE, NWSW, SESW | |||||||||
| SEC 14: SWNE, NW, N2SW, SESW, SE | |||||||||
| SEC 15: NENE, W2 | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 59 | USA MTM-91745 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 958.69 | 958.69 | T37N-R35E | ||
| SEC 19: LOTS 1,2,3, NE, E2NW, NESW, N2SE, SESE | |||||||||
| SEC 20: E2 | |||||||||
| SEC 21: W2SW, NWSE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 60 | USA MTM-91746 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 520.00 | 520.00 | T37N-R35E | ||
| SEC 22: E2SW | |||||||||
| SEC 23: N2NE, W2SW, E2SE | |||||||||
| SEC 24: W2SW, W2SE, SESE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 61 | USA MTM-91747 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,000.00 | 1,000.00 | T37N-R35E | ||
| SEC 25: E2, N2NW, SENW | |||||||||
| SEC 26: W2NW | |||||||||
| SEC 27: NE, E2NW, SW, W2SE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 62 | USA MTM-91748 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,360.00 | 1,360.00 | T37N-R35E | ||
| SEC 28: W2NE, W2NW, SENW, S2 | |||||||||
| SEC 29: ALL | |||||||||
| SEC 30: E2E2, SWSE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 63 | USA MTM-91749 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,080.16 | 1,080.16 | T37N-R35E | ||
| SEC 31: LOTS 1,2,3,4, E2, E2W2 | |||||||||
| SEC 32: E2, W2SW, SESW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 64 | USA MTM-91750 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,840.00 | 1,840.00 | T37N-R35E | ||
| SEC 33: ALL | |||||||||
| SEC 34: W2NE, W2, SE | |||||||||
| SEC 35: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 65 | USA MTM-92348 (MTM-91752) | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 2,037.23 | 2,037.23 | T36N-R36E | ||
| SEC 3: S2SE | |||||||||
| SEC 10: ALL | |||||||||
| SEC 15: N2N2 | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 66 | USA MTM-91753 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,323.81 | 1,323.81 | T36N-R36E | ||
| SEC 5: SW | |||||||||
| SEC 6: LOTS 3,4,5,6, E2SW, SE | |||||||||
| SEC 7: LOTS 1,2,3,4, E2W2, SE | |||||||||
| SEC 9: E2NE, NW, S2SE | |||||||||
| VALLEY COUNTY, MONTANA |
| Page 2 of 6 |
| ATTACHMENT A |
Coastal Petroleum Company - Schedule of Leases
WEST VALLEY COUNTY ASSEMBLY
| Lease Number | Lessor Name | Lessee Name | Lease Date | Expiration Date | Gross Acres | Net Acres | Book | Page | Legal |
| 67 | USA MTM-92349 (MTM-91754) | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,402.80 | 1,402.80 | T36N-R36E | ||
| SEC 18: LOTS 1,2,3,4, NE, E2W2 | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 68 | USA MTM-91757 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,369.39 | 1,369.39 | T37N-R36E | ||
| SEC 3: LOTS 2,3,4, SWNW, NWSW | |||||||||
| SEC 4: LOTS 1,2,3,4, S2N2, SW, W2SE | |||||||||
| SEC 9: NE, NENW, S2SW | |||||||||
| SEC 10: SW, N2SE, SWSE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 69 | USA MTM-91758 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,022.04 | 1,022.04 | T37N-R36E | ||
| SEC 5: LOTS 3,4, S2NW, SW | |||||||||
| SEC 6: LOTS 3,4,5,6,7, SENW, E2SW | |||||||||
| SEC 8: W2, SESE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 70 | USA MTM-91759 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 920.00 | 920.00 | T37N-R36E | ||
| SEC 14: SENW, SWSW | |||||||||
| SEC 23: NWNE, S2NE, NW, S2 | |||||||||
| SEC 24: SWNE, W2SW | |||||||||
| SEC 25: W2SW, SWSE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 71 | USA MTM-91760 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,200.00 | 1,200.00 | T37N-R36E | ||
| SEC 15: W2NE, W2, SE | |||||||||
| SEC 21: NENE, W2NE, NW | |||||||||
| SEC 22: E2, NWNW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 72 | USA MTM-91761 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 679.99 | 679.99 | T37N-R36E | ||
| SEC 17: N2, N2SE | |||||||||
| SEC 18: NENE | |||||||||
| SEC 19: LOT 4 | |||||||||
| SEC 20: N2NE, SESW, S2SE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 73 | USA MTM-91762 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,840.85 | 1,840.85 | T37N-R36E | ||
| SEC 29: N2, W2SW, E2SE | |||||||||
| SEC 30: LOTS, 3,4 | |||||||||
| SEC 31: LOTS 1,2,3,4, E2, E2W2 | |||||||||
| SEC 32: W2NW, SENW, SW, NWSE | |||||||||
| SEC 33: W2NE, NW, N2SW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 74 | USA MTM-91796 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,600.00 | 1,600.00 | T37N-R36E | ||
| SEC 27: S2 | |||||||||
| SEC 28: S2 | |||||||||
| SEC 33: E2NE, S2SW, SE | |||||||||
| SEC 34: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 75 | USA MTM-92352 (MTM-91795) | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,280.00 | 1,280.00 | T37N-R36E | ||
| SEC 26: S2 | |||||||||
| VALLEY COUNTY, MONTANA |
| Page 3 of 6 |
| ATTACHMENT A |
Coastal Petroleum Company - Schedule of Leases
WEST VALLEY COUNTY ASSEMBLY
| Lease Number | Lessor Name | Lessee Name | Lease Date | Expiration Date | Gross Acres | Net Acres | Book | Page | Legal |
| 76 | USA MTM-91794 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,040.00 | 1,040.00 | T37N-R36E | ||
| SEC 21: SENE, S2 | |||||||||
| SEC 22: NENW, S2NW, SW | |||||||||
| SEC 29: E2SW, W2SE | |||||||||
| SEC 30: NE, N2SE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 77 | USA MTM-91793 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 760.00 | 760.00 | T37N-R36E | ||
| SEC 12: SWSW | |||||||||
| SEC 13: W2W2 | |||||||||
| SEC 14: E2, NENW, SESW | |||||||||
| SEC 23: NENE | |||||||||
| SEC 24: W2NW, SENW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 78 | USA MTM-91768 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 672.51 | 672.51 | T36N-R35E | ||
| SEC 6: LOTS 4,5 | |||||||||
| SEC 9: N2N2, SWNW | |||||||||
| SEC 10: N2NW | |||||||||
| SEC 15: S2NW, N2SW, SE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 79 | USA MTM-91772 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,080.00 | 1,080.00 | T37N-R35E | ||
| SEC 1: SESW, S2SE | |||||||||
| SEC 11: ALL | |||||||||
| SEC 13: NW, NESW | |||||||||
| SEC 14: N2NE, SENE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 80 | USA MTM-91773 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 640.00 | 640.00 | T37N-R35E | ||
| SEC 4: S2NW, SW, S2SE | |||||||||
| SEC 9: NE, N2SE | |||||||||
| SEC 10: SWNW, NWSW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 81 | USA MTM-91777 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 800.00 | 800.00 | T37N-R35E | ||
| SEC 25: SWNW, SW | |||||||||
| SEC 26: E2, E2NW | |||||||||
| SEC 27: W2NW | |||||||||
| SEC 28: E2NE, NENW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 82 | ST MT 34,821-02 | Coastal Petroleum Company | 9/1/2002 | 9/3/2012 | 640.00 | 640.00 | T37N-R36E | ||
| SEC 16: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 83 | ST MT 34,820-02 | Coastal Petroleum Company | 9/1/2002 | 9/3/2012 | 640.00 | 640.00 | T37N-R35E | ||
| SEC 36: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 84 | ST MT 34,819-02 | Coastal Petroleum Company | 9/1/2002 | 9/3/2012 | 640.00 | 640.00 | T37N-R35E | ||
| SEC 16: ALL | |||||||||
| VALLEY COUNTY, MONTANA |
| Page 4 of 6 |
| ATTACHMENT A |
Coastal Petroleum Company - Schedule of Leases
WEST VALLEY COUNTY ASSEMBLY
| Lease Number | Lessor Name | Lessee Name | Lease Date | Expiration Date | Gross Acres | Net Acres | Book | Page | Legal |
| 85 | ST MT 34,815-02 | Coastal Petroleum Company | 9/1/2002 | 9/3/2012 | 640.00 | 640.00 | 79 | 503 | T36N-R36E |
| SEC 16: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 86 | ST MT 34,813-02 | Coastal Petroleum Company | 9/1/2002 | 9/3/2012 | 640.00 | 640.00 | T36N-R35E | ||
| SEC 16: ALL | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 95 | USA MTM-91792 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,372.89 | 1,372.89 | T37N-R36E | ||
| SEC 6: LOTS 1,2, S2NE, SE | |||||||||
| SEC 7: E2 | |||||||||
| SEC 17: SW, S2SE | |||||||||
| SEC 18: NWNE, S2NE, SE | |||||||||
| SEC 19: NENE, SESE | |||||||||
| SEC 20: N2NW, SWSW | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 96 | USA MTM-91791 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,053.56 | 1,053.56 | T37N-R36E | ||
| SEC 4: E2SE | |||||||||
| SEC 5: LOTS 1,2, S2NE, SE | |||||||||
| SEC 8: NE, N2SE, SWSE | |||||||||
| SEC 9: NWNW, S2NW, N2SW, SE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 97 | USA MTM-91790 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 853.95 | 853.95 | T37N-R36E | ||
| SEC 2: LOT 4, SWNW, SW | |||||||||
| SEC 3: LOT 1, S2NE, SENW, NESW, S2SW | |||||||||
| SEC 10: NW | |||||||||
| SEC 11: N2NW, SENW, SESE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 98 | USA MTM-92351 (MTM 91788) | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 960.00 | 960.00 | T36N-R36E | ||
| SEC 17: NE, W2 | |||||||||
| SEC 18: SE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 99 | USA MTM-92350 (MTM-91787) | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,440.00 | 1,440.00 | T36N-R36E | ||
| SEC 15: S2N2, S2 | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 100 | USA MTM-91785 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,120.00 | 1,120.00 | T36N-R36E | ||
| SEC 7: NE | |||||||||
| SEC 8: ALL | |||||||||
| SEC 9: W2NE, SW, N2SE | |||||||||
| VALLEY COUNTY, MONTANA |
| Page 5 of 6 |
| ATTACHMENT A |
Coastal Petroleum Company - Schedule of Leases
WEST VALLEY COUNTY ASSEMBLY
| Lease Number | Lessor Name | Lessee Name | Lease Date | Expiration Date | Gross Acres | Net Acres | Book | Page | Legal |
| 101 | USA MTM-91774 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,835.10 | 1,835.10 | T37N-R35E | ||
| SEC 5: LOTS 1,2,3,4, S2N2, S2 | |||||||||
| SEC 6: LOTS 1,2,3,4,5,6,7, S2NE, SENW, E2SW, SE | |||||||||
| SEC 7: LOT 4, E2 | |||||||||
| SEC 8: W2W2 | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 102 | USA MTM-91775 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 996.75 | 996.75 | T37N-R35E | ||
| SEC 17: W2NW | |||||||||
| SEC 18: LOTS 1,2,3,4, NE, E2W2 | |||||||||
| SEC 19: LOT 4, SESW, SWSE | |||||||||
| SEC 20: W2 | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 103 | USA MTM-91776 | Coastal Petroleum Company | 5/31/2002 | 5/31/2012 | 1,440.00 | 1,440.00 | T37N-R35E | ||
| SEC 21: N2, E2SW, NESE, S2SE | |||||||||
| SEC 22: E2, NW, W2SW | |||||||||
| SEC 23: SWNE, NW, E2SW, W2SE | |||||||||
| VALLEY COUNTY, MONTANA | |||||||||
| 106 | USA MTM-92276 | Coastal Petroleum Company | 12/11/2002 | 12/31/2012 | 2,238.36 | 2,238.36 | T37N-R34E | ||
| SEC 1: LOTS 1, 2, 3, 4, S2N2, S2 | |||||||||
| SEC 2: LOTS 1, 2, 3, 4, S2N2 | |||||||||
| SEC 11: ALL | |||||||||
| SEC 12: N2, SW, N2SE, SWSE | |||||||||
| PHILLIPS COUNTY, MONTANA | |||||||||
| 107 | USA MTM-92277 | Coastal Petroleum Company | 12/11/2002 | 12/31/2012 | 440.00 | 440.00 | T37N-R34E | ||
| SEC 10: NE, E2W2 | |||||||||
| SEC 12: SESE | |||||||||
| SEC 13: E2NE | |||||||||
| PHILLIPS COUNTY, MONTANA | |||||||||
| 108 | USA MTM-92278 | Coastal Petroleum Company | 12/11/2002 | 12/31/2012 | 40.00 | 40.00 | T37N-R34E | ||
| SEC 10: SWNW | |||||||||
| PHILLIPS COUNTY, MONTANA | |||||||||
| 109 | USA MTM-92279 | Coastal Petroleum Company | 12/11/2002 | 12/31/2012 | 2,440.00 | 2,440.00 | T37N-R34E | ||
| SEC 13: W2NE, NW, S2 | |||||||||
| SEC 14: ALL | |||||||||
| SEC 23: ALL | |||||||||
| SEC 24: N2, SW, N2SE, SWSE | |||||||||
| PHILLIPS COUNTY, MONTANA | |||||||||
| 110 | USA MTM-92280 | Coastal Petroleum Company | 12/11/2002 | 12/31/2012 | 480.00 | 480.00 | T37N-R34E | ||
| SEC 15: S2 | |||||||||
| SEC 22: E2E2 | |||||||||
| PHILLIPS COUNTY, MONTANA | |||||||||
| 111 | USA MTM-92281 | Coastal Petroleum Company | 12/11/2002 | 12/31/2012 | 920.00 | 920.00 | T37N-R34E | ||
| SEC 25: NWNE, S2NE, NW, S2 | |||||||||
| SEC 26: E2 | |||||||||
| PHILLIPS COUNTY, MONTANA | |||||||||
| TOTAL ACRES | 62,164.13 | 62,164.13 | |||||||
| Page 6 of 6 |
| ATTACHMENT A |
