Assignment of Oil and Gas Mineral Leases
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EX-10.4 5 ex10_4.htm EXHIBIT 10.4 Exhibit 10.4
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10.4 - Assignment of Oil and Gas Mineral Leases
Assignment of Oil and Gas Mineral Leases Elk County, Kansas
| STATE OF Kansas | § | ||
| § | KNOW ALL MEN BY THESE PRESENTS: | ||
| COUNTY OF Elk et al | § |
Effective January 30, 2007, that, Orbit Energy, L.L.C with principle offices at 4801 Woodway Suite 305W Houston, Texas 77056 (hereinafter called “Assignor”), for and in consideration of the sum of Ten Dollars ($10.00) cash and other good and valuable consideration paid by Wharton Resources, LP, with offices at 519 Heights Blvd. Houston, Texas 77007 (hereinafter called “Assignee”), the receipt and sufficiency of which are hereby acknowledged, does, subject to the terms and provisions herein contained, hereby transfer, sell, assign and convey unto the said Assignee, its heirs, successors or assigns, without warranty of title, express or implied, 74% of 8/8ths of Assignor’s right, title and interest in and to the oil and gas rights including hydrocarbon and non-hydrocarbon substances produced in association therewith, as covered by the oil, gas and mineral leases described in Exhibit “I”, attached hereto and by reference made a part hereof and the lands covered by such leases insofar only as such lands are described in Exhibit “I”, together with such interest’s part of all production if any, produced under such oil, gas and mineral leases and the Area of Mutual Interest (AMI) as set out in that certain Purchase and Sale Agreement Mound Branch Prospect Elk County, Kansas by and between the Assignor and Assignee dated January 30, 2007.
The oil, gas and mineral leases described in Exhibit “I” insofar as the same cover the lands described therein are hereinafter referred to as “said leases”.
The interest in said leases assigned Assignee hereunder shall be subject to such interest’s proportionate part of the royalty interest as provided for in said leases and to the terms, conditions and provisions set forth therein. Such interest shall also be subject to such interest’s proportionate part of all overriding royalties, production payments and any other payments and agreements of record.
The terms, covenants and conditions hereof shall be binding upon and shall inure to the benefit of Assignor and Assignee and their respective successors and assigns; and such terms, covenants and conditions shall be covenants running with the land above described and the assigned premises and with each transfer or assignment of said leases.
Executed this 30th day of January, 2007, however, effective as stated above.
| Orbit Energy, L.L.C. | ||
| By: | / s / Greg A. Thompson | |
| President | ||
| STATE OF Texas | } |
| COUNTY OF Harris | } |
This instrument was acknowledged before me on this 30th day of January, 2007 by Greg A. Thompson Manager/President , a Nevada Limited Liability Company, on behalf of said LLC.
| My Commission Expires | / s / Yazim Leyva | |
| Notary Public - State of Texas | ||
| November 18, 2007 |
EXHIBIT “I” TO
Oil and Gas Mineral Leases Assigned In Assignment Agreement
Dated January 30, 2007
Mound Branch Prospect Area
Elk County, Kansas
| Lessor | | Recorded Book/Page Elk County, KS | Date of Lease | Term | | Number of Acres | | Legal Discription | | County | | State |
| Bellar Family Farm, LLC | 60/785 | 12/10/05 | 3 yrs. | Total Acres 125 | Township 30 South, Range 11 East Section 29: E/2NE/4,NE/4SE/4,N/2SE/4SE/4 Lying North of County Rd | Elk | KS | |||||
| Eugene R. & Catherine S. Perkins | 60/805 | 2/11/06 | 3 yrs | Total Acres 320 Lease (1) 160 | Township 30 South, Range 11 East Section 18: NE/4 | Elk | KS | |||||
| 60/807 | 2/11/06 | 3 yrs | Lease (2) 160 | Township 30 South, Range 11 East Section 18: E/2SW/4, W/2SE/4 | Elk | KS | ||||||
| Tom & Angela Russell, Preston & Christina Jones | 60/815 | 2/25/06 | 3 yrs | Total Acres 563 Lease (1) 280 | Township 30 South, Range 11 East Section 21: NE/4NW/4, lying East of County RD, NE/4 Section 22: W/2SW/4, SW/4NW/4 | Elk | KS | |||||
| 60/818 | 2/25/06 | 3 yrs | Lease (2) 283 | Township 30 South, Range 11 East Section 15: SW/4 Section 22: N/2NW/4, SE/4NW/4 | Elk | KS | ||||||
| Howard E. & Debbie J. Unruh | 60/861 | 2/25/06 | 3 yrs | Total Acres 200 | Township 30 South, Range 11 East of 6th P.M. Section 21: SE/4, NE/4SW/4, SE/4SW/4 | Elk | KS | |||||
| Alvin V. Schibbelhute | 60/619 | 10/1/05 | 3 yrs | Total Acres 400 Lease (1) - 240 Acres | Township 30 South, Range 11 East Section 12: SE/4, E/2SW/4 | Elk | KS | |||||
| Lease (2) - 160 Acres | Township 30 South, Range 12 East Section 7: SW/4 | Elk | KS | |||||||||
| David Denton | 60/624 | 10/13/05 | 3 yrs | Total Acres 640 Lease (1) - 320 Acres | Township 30 South, Range 11 East | Elk | KS | |||||
| Dennis Bryan | 60/610 | 9/6/05 | 3 yrs | Total Acres 80 | Township 30 South, Range 11 East Section 19: E/2NE/4 | ELK | KS | |||||
| Robert Adams | 60/631 | 10/17/05 | 3 yrs | Total Acres 920 Lease (1) 160 Acres | E/2 NW/4, W/2 NE/4, Sec32 T30S-R11E, Elk County, Kansas | Elk | KS | |||||
| 60/633 | 10/17/05 | 3 yrs | Lease (2) 160 Acres | Township 30 South Range 11 East Section 35: NE/4 | Elk | KS | ||||||
| Robert, Lakin, Linda Adams Alice M. & Marion Brunetti | 60/710 | 10/17/05 | 3 yrs | Lease (3)- 240 Acres | Township 30 South, Range 11 East Section 27: E/2SW/4, SE/4 | Elk | KS | |||||
| Robert, Lakin, Linda Adams Alice M. & Marion Brunetti | 60/708 | 10/17/05 | 3 yrs | Lease (4)- 80 Acres | Township 30 South, Range 11 East Section 35: W/2NW/4 | Elk | KS | |||||
| Robert A., Larkin & Linda T. Adams | 60/704 | 10/17/2005 | 3 yrs | Lease (5)- 120 Acres | Township 30 South, Range 11 East Section 23: SE/4SE/4 Section 24: S/2SW/4 Section 26: E/2NE/4 | Elk | KS | |||||
| Phyllis A. & Neal F. Osborn Trustees of the Phyllis A. Osborn Trust | 60/842 | 3/16/06 | 3 yrs | Total Acres 640 Lease (1) 240 Acres | Township 30 South, Range 11 East Section 15: W/2SE/4 Section 22: NE/4 Section 22: SE/4, E/2SW/4 | Elk | KS | |||||
| 60/846 | 3/16/06 | 3 yrs | ||||||||||
| Babst Family Limited Partnership | 60/722 | 10/22/05 | 3 yrs | Total Acres 2524.1 Lease (1) - 649.55 Acres | Township 30 South, Range 12 East Section 30: Lots 1,2,3,4 E2,a/d/a All Township 30 South, Range 11 East Section 25: N/2S/2 lying North (2 Ac.) and East County Rd., NE/4 lying East County (12 Ac.) | Elk | KS | |||||
| Babst Family Limited Partnership | 60/719 | 10/22/05 | 3 yrs | Lease (2) - 239.34 Acres | Township 30 South, Range 12 East E/2W/2, E/2, a/d/a All | Elk | KS | |||||
| 60/717 | 10/22/05 | 3 yrs | Lease (4) - 320 Acres | Township 30 South, Range 12 East Section 29: W/2 | Elk | KS | ||||||
| Babst Family Limited Partnership | 60/715 | 10/22/05 | 3 yrs | Lease (5) - 688.61 Acres | Township 30 South, Range 12 East Section 19: Lots 1,2,3,4, E/2, a,d,a All ( 632.11 Ac. ) Township 30 South, Range 11 East Section 24: All that part of the SE/4NE/4, E/2SE/4 lying East of County Road ( 56.5 Ac. ) | Elk | KS | |||||
| M. Ruth Royse, Trustee of the M. Ruth Royce | Total Acres 640 | |||||||||||
| Lease Date- | 61/003 | 3/20/06 | 3 yrs | Lease (1) 320 Acres | Township 30 South, Range 11 East Section 10: W/2 | Elk | KS | |||||
| 61/005 | 3/20/06 | 3 yrs | Lease (2) 320 Acres | Township 30 South, Range 11 East | Elk | KS | ||||||
| Margaret P. Tidwell | 60/461 | 7/13/05 | n/a | *HBP | Total Acres 959 | Section 29, 30 Various | Elk | KS | ||||
| *Held by production. |
