Common use of Description of Lands Clause in Contracts

Description of Lands. (Describe the lands that are subject to the Agreement, which are covered by the Leases described in A above.) ▇.▇. ▇▇▇▇ "18-1", being the Wl/2 of the NW1/4 of Section 18, ▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇, Texas, containing Forty (South 40) acres only more or less. OPERATING AGREEMENT This Exhibit is the Operating Agreement entered into by the Operator and Participants to the Participation Agreement, and all exhibits to the Operating Agreement. While a Participant’s signing the Participation Agreement with Operating Agreement attached as an Exhibit, should be adequate to deem the Participant subject to the terms of the Operating Agreement, it is recommended that the Operating Agreement signature page be completed and all Participants sign the Operating Agreement as well as the Participation Agreement. The Operating Agreement attached to the Participation Agreement should be completed, with all amendments, additions, and Exhibits, as it will be the Agreement governing operations of ▇▇▇▇▇ after all commitments provided for in the Participation Agreement are completed. ASSIGNMENT State: Texas County: ▇▇▇▇ Assignor: Success Oil Co., ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇. #▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇. ▇▇▇▇▇ Assignee: Firecreek Petroleum Inc, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇. ▇▇▇▇▇ Effective Date: 3-1-12 Assignor and Assignee named above have entered into a Participation Agreement (the “Agreement”) by which Assignee agreed to acquire an undivided interest from Assignor in oil and gas leases located in the county and state named above. Assignee has fulfilled its obligations under the terms of that Agreement and is entitled to receive an Assignment from Assignor. For the consideration provided for in the Agreement and subject to all of the terms, conditions, the provisions of that Agreement, and the Joint Operating Agreement (“JOA”) entered into by Assignee, naming Assignor as Operator, Assignor, assigns, sells and conveys to Assignee the undivided interest set out below in the oil and gas leases (the “Leases”), insofar as the Leases cover those specific lands (the “Lands”) which Leases and Lands are described in Exhibit “A” to this Assignment. The interest assigned to Assignee is: Before Payout: Gross working Interest 75% Net Revenue Interest 56.25% After Payout: Gross Working Interest 75% Net Revenue Interest 56.25% This Assignment shall also be deemed a ▇▇▇▇ of Sale to Assignee of a like undivided interest in all equipment and fixtures, in, on, and used in connection with the well located on the Lands described in Exhibit “A.” The event of Payout which results in a change in Assignee’s undivided interest in the Leases and Lands is described in the Agreement. As evidence of when Payout occurs, Assignor may file a Notice in the records of the county where the Leases and Lands are located, stating the effective date of Payout, at which time, Assignee’s interest shall be reduced to the “After Payout” interest stated above. The Assignment is delivered by Assignor to Assignee with warranty of title by, through and under Assignor, but not otherwise, and subject to the terms of the Agreement and JOA to which Assignor and Assignee are parties.

Description of Lands. (Describe the lands that are subject to the Agreement, which are covered by the Leases described in A above.) ▇.J.▇. ▇▇▇▇ "18-1", being the Wl/2 of the NW1/4 of Section 18, ▇B▇▇▇▇ ▇-▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇, Texas, containing Forty (South 40) acres only more or less. OPERATING AGREEMENT This Exhibit is the Operating Agreement entered into by the Operator and Participants to the Participation Agreement, and all exhibits to the Operating Agreement. While a Participant’s signing the Participation Agreement with Operating Agreement attached as an Exhibit, should be adequate to deem the Participant subject to the terms of the Operating Agreement, it is recommended that the Operating Agreement signature page be completed and all Participants sign the Operating Agreement as well as the Participation Agreement. The Operating Agreement attached to the Participation Agreement should be completed, with all amendments, additions, and Exhibits, as it will be the Agreement governing operations of ▇w▇▇▇▇ after all commitments provided for in the Participation Agreement are completed. ASSIGNMENT State: Texas County: ▇▇▇▇ Assignor: Success Oil Co., ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇. #▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇. ▇▇▇▇▇ Assignee: Firecreek Petroleum Inc, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇. ▇▇▇▇▇ Effective Date: 3-1-12 Assignor and Assignee named above have entered into a Participation Agreement (the “Agreement”) by which Assignee agreed to acquire an undivided interest from Assignor in oil and gas leases located in the county and state named above. Assignee has fulfilled its obligations under the terms of that Agreement and is entitled to receive an Assignment from Assignor. For the consideration provided for in the Agreement and subject to all of the terms, conditions, the provisions of that Agreement, and the Joint Operating Agreement (“JOA”) entered into by Assignee, naming Assignor as Operator, Assignor, assigns, sells and conveys to Assignee the undivided interest set out below in the oil and gas leases (the “Leases”), insofar as the Leases cover those specific lands (the “Lands”) which Leases and Lands are described in Exhibit “A” to this Assignment. The interest assigned to Assignee is: Before Payout: Gross working Interest 75% Net Revenue Interest 56.25% After Payout: Gross Working Interest 75% Net Revenue Interest 56.25% This Assignment shall also be deemed a ▇B▇▇▇ of Sale to Assignee of a like undivided interest in all equipment and fixtures, in, on, and used in connection with the well located on the Lands described in Exhibit “A.” The event of Payout which results in a change in Assignee’s undivided interest in the Leases and Lands is described in the Agreement. As evidence of when Payout occurs, Assignor may file a Notice in the records of the county where the Leases and Lands are located, stating the effective date of Payout, at which time, Assignee’s interest shall be reduced to the “After Payout” interest stated above. The Assignment is delivered by Assignor to Assignee with warranty of title by, through and under Assignor, but not otherwise, and subject to the terms of the Agreement and JOA to which Assignor and Assignee are parties.