Termination and Payment Agreement between American Natural Energy Corporation and Creek Road Miners Inc.

Contract Categories: Business Operations › Termination Agreements
Summary

American Natural Energy Corporation and Creek Road Miners Inc. agree that their current Gas Supply Agreement will end on May 24, 2022, with no option to extend or renew. Creek Road Miners must pay outstanding gas consumption invoices for April and May promptly upon receipt, after ANEC receives final data from Shell. ANEC will resume gas supply despite not yet receiving required insurance documentation from Creek Road Miners, but this requirement is not waived. Both parties have signed to confirm these terms.

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EX-10.1 2 ex10-1.htm

 

Exhibit 10.1

 

AMERICAN NATURAL ENERGY CORPORATION

 

2750 Rasmussen Road
Suite 11-105
Park City, UT 84094

 

Phone ###-###-####   Fax ###-###-####

 

May 5, 2022

 

Creek Road Miners Inc.

Attn: Alan Urban

2700 Homestead Road

Suite 50

Park City, UT 84098

 

Dear Alan,

 

American Natural Energy Corporation (ANEC) confirms receipt of $55,000 by wire transfer. While we still do not have the insurance documentation that Creek Road Miners, Inc. (Creek Road) is required to provide to us, and without waiving this requirement, ANEC will turn the gas back on tomorrow morning with the hopes that we can resolve that and other issues in very short order and conclude things amicably.

 

At this time, ANEC asks Creek Road to confirm its agreement to the following items:

  ● The current Gas Supply Agreement will end on May 24, 2022. There is no option for extension or renewal.
  ● The gas consumption invoices for the month of April will be provided to Creek Road the week of May 9th after ANEC receives final information from Shell. Creek Road will pay that invoice in a timely fashion.
  ● The gas consumption invoice for May will be provided to creek Road sometime in the middle of June after ANEC receives final information from Shell. Creek Road will pay that invoice in a timely fashion.

 

 

 

 

If the foregoing is agreeable to Creek Road, kindly sign and date this letter and return a copy to me by 5:00 p.m. MT on May 7, 2022. If you have questions or wish to discuss the foregoing, please do not hesitate to contact me.

 

Sincerely,

 

American National Energy Corporation

 

By: /s/ Heidi C. Bowman  
Name: Heidi C. Bowman  
Title: Co-CEO & CFO  

 

Agreed to and accepted

 

Creek Road Miners Inc.

 

By: /s/ Alan Urban  
Name: Alan Urban  
Title: CFO  
Date 5/7/2022