ASSIGNMENT OF OVERRIDING ROYALTY INTEREST

Assignor, named above, owns an overriding royalty interest in the oil, gas and mineral leases (the "Leases") which covers the lands located in the counties and state named above (the "Lands"). The Leases and Lands are described on Exhibit "A" in the Assignment.

 

 

For adequate consideration, Assignor (PIN ECONE PETROLEUM) transfers, grants, assigns and conveys to Assignees overriding royalty interests, as described below, in the Leases and all of the oil, gas and other minerals produced, saved and marketed from the Leases. (See Assignees interest conveyed below)

 

PINECONE PETROLEUM, assigns overriding royalty interests in said attached Leases as follows:

 

50% to Meir Cohen

675 Third Avenue, Suite 2400

New York, NY 10017

This Assignment of overriding royalty interest is made without warranty of title, express or implied.

 

If Assignor's interest in the attached oil and gas leases, lands or unit is less than the entire interest, or if said oil and gas leases cover less than the entire fee title, then the overriding royalty shall be reduced proportionately.

 

To have and to hold the interest herein transferred and assigned unto Assignees, its successors and assigns, forever, subject only the terms and provisions provided, herein.

 

 

Executed this 3rd day of January, 2012

 

STATE OF COLORADO      )                                                                 ACKNOWLEDGMENT (For use by Corporation)

 

COUNTY OF DENVER      )

 

On this 3rd day of January, A.D. 2012, before me personally appeared , Christopher Miller                                                                                                   ,to me personally known, who. beingbx me duly sworn, did say that he/she is the President                                                               of Pinecone Petroleum                                                          and that the seal affixed to said instrument is the corporate seal of said corporation and that said instrument was signed and sealed in behalf of said corporation by authority of its Board of Directors, and said                                                                                                         acknowledged said instrument to be free act and deed of said

 

Attached to and made part of that certain ASSIGNMENT OF OVERRIDING ROYALTY INTEREST dated January 3, 2012 and made effective January 1, 2012

It is the intent of the Assignor to convey all Right Title and Interest in the above oil and gas leases including wellbore production in the Munsell Lawrence 21-23, Lawrence 21-23 and Conner 14-27 and Carpienter Conner 43-28 .