WORKING INTEREST PURCHASE AGREEMENT
This
agreement is entered into on this
12th day
of
June, 2007 by and between ▇▇▇▇ Resources Limited, a Louisiana Corporation,
▇▇▇▇
Contracting Company, LLC, a Louisiana Corporation, and ▇▇▇▇▇▇ ▇. ▇▇▇▇,
an
individual, herein collectively referred to as “Assignor/Operator,” and
Hyperdynamics Corporation, (a Delaware corporation herein also referred
to as
the “Parent Company”), HYD Resources Corporation, (a Texas Corporation and
wholly owned subsidiary of Parent Company and also referred to herein as
“HYDR”), and HYDR's wholly owned subsidiary, Trendsetter Production Company,
(a
Mississippi corporation also referred to as “Acquiring Company” and “TPC”),
hereinafter the Parent Company, HYDR, a TPC are collectively referred to
as
“Assignee”.
WITNESSETH:
WHEREAS,
Assignor/Operator owns 100% of
the working interest in those properties listed on Exhibit “B” attached hereto
and made a part hereof; and Assignor/Operator and Assignee have come to
an
agreement whereby Assignee shall acquire 85% of the working interest of
Assignor/Operator in said properties, and that said properties together
with any
new leases or properties shall be operated and developed pursuant to this
agreements and related agreements; and
WHEREAS,
the parties are desirous that
this agreement be formalized for purposes of particularizing all aspects
of
same;
THEREFORE,
KNOW ALL MEN BY THESE
PRESENT that Assignor/Operator and Assignee do hereby agree as follows,
to-wit:
PROPERTIES
AND RIGHTS TO BE ASSIGNED
1. That
Assignor/Operator shall assign to Assignee 85% of all of Assignor/Operator’s working
interest
ownership in the producing ▇▇▇▇▇, disposal ▇▇▇▇▇ and oil and gas leases
described on Exhibit “B” attached hereto, together with a corresponding interest
in any and all existing production and presently non-producing mineral
leasehold
acreage held by said production, all equipment (both surface and down-hole)
utilized in the existing production activities (see Exhibit “C” attached hereto)
and all contract rights involving access roads, disposal ▇▇▇▇▇ and any
other
property rights or incidents of ownership relating to or any way affecting
the
oil, gas and mineral leases and ▇▇▇▇▇ in question. All property and rights
acquired by Assignee hereunder are also referred to as the “Acquired Property”,
herein.
2. It
is understood by and between the parties that the aforesaid working interest
ownership which is to be transferred by Assignor/Operator to Assignee shall
be
burdened by royalties and/or overriding royalties totaling no more than
25% of
production with the exception of the “Peabody LBM” lease which has a total
royalty and overriding royalty burden of no more than 27.46%. Upon execution
of
this agreement, if there are royalties less than 25% in any of the properties,
the royalties for those properties will not be adjusted to or re-traded
to 25%
but shall remain at the lower amount.
3. The
actual assignment Assignor/Operator shall execute in favor of Assignee
shall
warrant title insofar as acts of Assignor/Operator are concerned, and
consequently the properties shall be sold subject to no liens and/or
encumbrances. Assignor/Operator shall provide Assignee on July 1, 2007
with a
title opinion setting forth and disclosing the record ownership of the
▇▇▇▇▇ and
leases in question.
OPERATOR
DESIGNATION
4. Assignor/Operator
shall retain its status as the formally designated operator of the ▇▇▇▇▇,
leases, properties and contract rights affected by this assignment along
with
additional property acquired pursuant to and in accordance with the terms
of
this agreement. Moreover, an Operating Agreement and Accounting Procedure
for
Joint Operations containing standard and regionally acceptable provisions
shall
be negotiated and executed by the parties on or before July 01,
2007.
Confidential
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CLOSING
AND CONSIDERATION
5. The
closing of this agreement occurs when it is signed by all parties (“closing”).
The assignment of the properties and rights contemplated herein shall occur
on
July 1, 2007. All assignment documents shall be held by Assignor/Operator’s attorney
and
delivered to Assignee simultaneously with the final payment of the total
purchase price as contemplated in Paragraphs 6 and 7 of this
agreement.
6. The
consideration to be paid by Assignee to Assignor/Operator at closing shall
be
the sum of $100,000 in cash together with the transfer to ▇▇▇▇▇▇ ▇. ▇▇▇▇
of
100,000 shares of the common stock of Hyperdynamics Corporation, the subsequent
transfer of which shall be restricted pursuant to SEC rule 144 for unregistered
stock. This restriction shall be noted on the stock certificate. Moreover,
the
15 % working interest which will be retained by Assignor/Operator in the
Acquired Property shall be a fully carried working interest and consequently
any
and all operating costs associated with the existing production shall be
the
responsibility of Assignee. Consequently, no operating expenditures of
any kind
will be applied to or deducted from the production revenues attributable
to the
15% retained working interest. Furthermore, no costs of any kind arising
from
drilling operations will be attributable to the 15% working interest. Drilling
operations are defined as all activities directly involved in the drilling,
completing, and/or abandonment of new ▇▇▇▇▇ up to the point of production
capability, whether or not the well actually produces hydrocarbons. Furthermore,
the 15% working interest ownership of Assignor/Operator in any new ▇▇▇▇▇
drilled
on the conveyed leases or on new oil, gas and mineral leases shall be
calculated, managed and accounted for in parallel to Acquired Property
under
this agreement, notwithstanding anything contained herein to the
contrary.
7.
No
later than 60 days from closing an additional $1,150,000 in cash along
with an
additional 100,000 shares of restricted common stock of Hyperdynamics
Corporation will be paid and issued by Assignee to Assignor/Operator or
their
assigns. This payment shall be the final portion of the purchase price
for the
Acquired Property and together with the amount paid at closing of this
agreement, shall be considered the total purchase price. If such payment
is not
made or a new arrangement is not reached by 60 days from closing, this
agreement
and all related agreements shall be deemed null and void, all interest
in the
properties will be fully transferred back to Assignor/Operator, all money
and
securities paid to Assignor/Operator shall be retained by Assignor/Operator,
and
Assignee will be released from all obligations herein.
8. The
Assignee hereby promises to invest an additional $4,000,000 (herein referred
to
as “Promised Funds”) in addition to the amount paid at closing. The Promise
Funds are promised in accordance with the provisions of this agreement
with the
intent to maximize the return from the Acquired Property or new properties
as
the case may be. Furthermore, Promise Funds, as spent, will be applied
to the
cost of any and all operations associated with the properties/leases/▇▇▇▇▇
covered under this agreement, to include acquisition, drilling, operating
costs,
geology, completion, abandonment, etc. and are not part of any acquisition
price.
BUDGET
AND EXPENDITURES
9.
Assignor/Operator shall submit for approval by Assignee a scheduled budget
for
each month. The budget will include an accounting of expected operating
expenses, capital investment expenses, drilling expenses, acquisition expenses,
and all other such expenses expected in the budgeted period. Each budget
will
specify how much is expected to apply to the Promise Funds commitment.
This
budget shall be delivered to Assignee by the tenth day of the month preceding
the budgeted month. Upon approval of each monthly budget by Assignee, budgeted
funds will be transferred to Assignor/Operator by the 5th day
of the
budgeted month. Assignee has ultimate authority to approve or disapprove
all
expenditures and/or budgets submitted by Assignor/Operator. The budget
process
described herein shall be further defined in an ultimately negotiated Operating
Agreement.
Confidential
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10.
In
accordance with the Operating Agreement referred to in paragraph 4
hereof, the
Assignor/Operator must supply statements, receipts and any other documentation
verifying costs and expenditures within 15 days upon written request
by the
Assignee, and Assignee will maintain a right to audit the records of
Assignor/Operator in perpetuity as long as this agreement or related
agreements
pertaining hereto are in effect.
11. The
parties intend herein for the Promised Funds to be fully invested by Assignee
within eighteen (18) months of the signing of this agreement, and once
Promise
Funds are fully expended, the 15% retained working interest of Assignor/Operator
will become a fully participating working interest whereby Assignor/Operator
will begin paying its pro-rata portion of all operating costs; provided,
however, that this participation shall not apply to drilling costs associated
with new drills. Whichever comes first, the completion of the expenditure
for
the Promised Funds or the expiration of the eighteen (18) months, the 15%
working interest retained by Assignor/Operator will convert to a
fully-participating working interest as explained above, save and except
for
drilling and completion costs associated with all new drills as defined
earlier
in Paragraph 4 of this agreement. If Assignor/Operator does not request
through
the formal budget process the full amount of the Promised Funds by the
expiration of the eighteen (18) month period, Assignee cannot be held in
default
for that reason.
DEFAULT
AND FORFEITURE
12. Should
Assignee fail to make any payment within ten (10) days of its due date,
or fail
to perform any other of the Assignee’s obligation,
herein described, upon thirty (30) days written notice, or should Assignee
be or
become insolvent or be a party to any bankruptcy receivership proceeding
prior
to full payment of all amounts payable hereunder, Assignor/Operator may
regain
the full ownership and privileges of 35% additional working interest from
Assignee in all assets covered hereunder, and Assignee, by virtue of this
Agreement, hereby pledges to facilitate such transfer with all speed and
diligence. If, however, Assignee, remedies its financial obligation within
thirty (30) days of written notice, Assignee must immediately pay to
Assignor/Operator 10% of the value of the amount in arrears as penalty
for
default.
The
remedies provided herein shall be cumulative and in addition to all other
remedies provided by law or equity or under the Uniform Commercial
Code.
DEVELOPMENTAL
DRILLING
13. Assignor/Operator
will provide requisite geological and/or engineering reports to support
additional drilling, and funds for this purpose shall be requested and
approved
through the budget process referred to in paragraph 6 above.
14. Assignor/Operator
will provide requisite geological and/or engineering reports to support
completion and/or abandonment operations, and funds for this purpose shall
be
requested and approved through the budget process referred to in paragraph
6
above.
RESTRAINTS
ON ALIENATION
15. During
a one hundred eighty (180) day period which begins with the transfer of
the 85%
interest as defined herein, neither party can abandon, buy, or sell its
interest
or obligations.
PREEMPTIVE
AND RECIPROCAL RIGHTS
16. The
Assignee shall have the right beginning at the expiration of a one hundred
eighty (180) day period referred to in paragraph 15 above, and at any time
thereafter while the contract and arrangement created hereby is in existence,
to
purchase the entire interest in the ▇▇▇▇▇, properties and leases affected
hereby, including any and all contract rights relating to disposal and
access,
of Assignor/Operator, and Assignor/Operator shall be obligated, within
thirty
(30) days of written notice to that effect, to facilitate the sale of said
interest and to accept from Assignee a price and consideration based upon
the
price formula described in Exhibit “A” attached hereto.
17.
Under
no circumstances shall either party be forced to purchase the interest
of the
other party. Notice of intent to sell must be made formally in writing
to the
other party. The other party will have the priority right within thirty
(30)
days of written notice to purchase said interest at a price determined
by the
seller, but, in the case of Assignor/Operator sale, the price shall not
exceed
the price as determined by the price formula contained in Exhibit
“A”.
Confidential
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18. In
the event Assignor/Operator would sell its interest to Assignee pursuant
to the
arrangement set forth in paragraphs 16 and 17 above, any money remaining
of the
Promised Funds not yet expended shall no longer be required to be spent by
Assignee. In the event Assignee would sell its interest to Assignor/Operator,
any money remaining not yet invested out of the Promised Funds shall not
be
required to be paid by Assignee, with the understanding that Assignee shall
not
be required in either event to purchase from Assignor/Operator the 200,000
shares of common stock of Assignee which was initially transferred to
Assignor/Operator as part of the purchase price for the execution of this
agreement.
RIGHT
OF FIRST REFUSAL
19. In
addition to any rights and obligations of the parties established herein,
Assignee shall also have a right of first refusal to acquire 85% of the
interest
of Assignor/Operator or any of its affiliates in the case that any additional
acquisitions (leases, ▇▇▇▇▇, etc.) made by Assignor/Operator or its affiliates,
which are not funded by the Promised Funds described in Paragraph 5 of
this
agreement. Accordingly, Assignor/Operator shall no later than ten (10)
days
prior to his planned acquisition inform Assignee in writing of the nature
and
character of the proposed acquisition along with the terms and conditions of the
purchase, and Assignee shall have until the actual acquisition to pay 85%
of the
acquisition cost and receive from Assignor/Operator 85% of the property
so
acquired. If said property is acquired by Assignee, the provisions of this
agreement, to the extent applicable, shall cover and apply to the maintenance
and development of said property, but with it being understood that any
working
interest retained by Assignor/Operator in said additional properties shall
be
calculated, managed and accounted for in parallel to Acquired Property
under
this agreement.
CONTROLLING
DOCUMENT
20. This
agreement shall act as the controlling document for all related documents
including all exhibits and amendments to this agreement. Any clauses,
provisions, or procedures that might be construed as conflicting will be
subordinate to this agreement where appropriate. All amendments to this
agreement must have the agreement by signature of all parties
involved.
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WITNESSES:
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ASSIGNOR/OPERATOR
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illegible
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▇▇▇▇
RESOURCES LIMITED
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/s/
▇▇▇▇▇ ▇▇▇▇▇▇
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|||
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BY:
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/s/
▇▇▇▇▇▇ ▇. ▇▇▇▇
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▇▇▇▇▇▇
▇. ▇▇▇▇
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|||
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WITNESSES:
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▇▇▇▇
CONTRACTING COMPANY, LLC
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illegible
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BY:
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/s/
▇▇▇▇▇▇ ▇. ▇▇▇▇
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| ▇▇▇▇▇▇ ▇. ▇▇▇▇ | |||
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/s/
▇▇▇▇▇ ▇▇▇▇▇▇
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/s/
▇▇▇▇▇▇ ▇. ▇▇▇▇
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||
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▇▇▇▇▇▇
▇. ▇▇▇▇, Individually
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|||
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/s/
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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NOTARY
PUBLIC
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||
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MY
COMMISSION EXPIRES AT DEATH
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Confidential
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Company
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WITNESSES
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ASSIGNE:
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illegible
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HYPERDYNAMICS
CORPORATION
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illegible
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BY:
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illegible
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/s/
▇▇▇▇ ▇. ▇▇▇▇▇▇
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||
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NOTARY
PUBLIC
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||
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MY
COMMISSION EXPIRES AT DEATH
|
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/s/
▇▇▇▇▇ ▇▇▇▇▇▇
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HYD
RESOURCES CORPORATION
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illegible
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BY:
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/s/
▇▇▇▇▇▇ ▇. Driver
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▇▇▇▇▇▇
▇. DRIVER
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|||
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/s/
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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NOTARY
PUBLIC
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/s/
▇▇▇▇▇ ▇▇▇▇▇▇
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TRENDSETTER
PRODUCTION COMPANY
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illegible
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BY:
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/s/
▇▇▇▇▇▇ ▇. Driver
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▇▇▇▇▇▇
▇. DRIVER
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/s/
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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NOTARY
PUBLIC
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MY
COMMISSION EXPIRES AT DEATH
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Confidential
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EXHIBIT
A
BUYBACK
FORMULA
X
= ( CP - IP ) • PPBO • 2YR • WI% • ( CP / EP )
X:
The price required to purchase Assignor/Operator working
interest
CP:
Current production in daily barrels of oil equivalent (3-month
average)
IP:
53 barrels of oil produced daily
PPBO:
Price per barrel of oil (3-month average from oil purchaser
statements)
2YR:
24-month payout period
WI%:
Percentage of Working Interest to be purchased net of all
royalties
EP:
Expected production as calculated by:
EP
= CX / (AC / IP) + IP
AC:
Initial acquisition costs, half of which was paid in cash at
closing
CX:
Capital Expenditures, not including initial acquisition costs
(AC)
Confidential
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EXHIBIT
B
OIL,
GAS AND MINERAL LEASES
1. Oil
and Gas Lease made November 1, 2001, by and between ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇.,
as
Trustee for the ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ 1989 Revocable Trust, et al, Lessor and
Verona
Energy, Inc., Lessee, recorded in COB 417, page 151, Entry No. 257058 of
the
records of Concordia Parish, Louisiana; and
2. Oil
and Gas Lease made November 1, 2001 by and between ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, et
al,
Lessor, and Verona Energy, Inc., Lessee, recorded in COB 393, page 56,
Entry No.
237326 of the records of Concordia Parish, Louisiana; and
3. Oil,
Gas and Mineral Lease dated (effective) August 7, 1991 from Conn Memorial
Foundation, Inc., et al, as lessor, to Oilwell Acquition Company, as Lessee,
filed for record under Register No. 194040 and recorded in COB 309, page
276 of
the Records of Concordia Parish, Louisiana.
4. Oil,
gas and mineral lease executed by the State Mineral Board of the State
of
Louisiana, as Lessor, in favor of ▇▇▇▇ Resources, Limited, as Lessee, dated
June
13, 2001, recorded August 14, 2001 in COB 391, page 815 of the records
of
Catahoula Parish, Louisiana, and SL No. 17129 and affecting ▇▇▇▇▇
▇▇▇▇▇.
5. That
certain oil, gas and mineral lease executed by Andre ▇▇▇▇▇▇ ▇▇▇▇▇, et al
in
favor of ▇▇▇▇▇▇ ▇▇▇▇, husband of ▇▇▇▇▇ ▇▇▇▇, dated July 5, 2000, filed
August 2,
2000, and recorded at COB 386, page 62 as Registry No. 232120 of the records
of
Concordia Parish, Louisiana, and which oil, gas and mineral lease was extended
by Extension of Oil, Gas and Mineral Lease dated June 23, 2001, filed June
26,
2001 and recorded at COB 391, page 170 of the records of Concordia Parish,
Louisiana.
6. An
Oil, Gas and Mineral Lease by and between ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇▇
Deville and ▇▇▇▇ Resources, Inc. recorded on April 10, 2006 as Document
No.
1305445 in COB 1749, page 985 of the records of Rapides Parish, Louisiana.
(Price #1 and Deville heirs #1 ▇▇▇▇▇)
7. Oil,
Gas and Mineral Lease by and between ▇▇▇▇▇▇▇ Industries, Inc. and ▇▇▇▇▇▇
Oil
Company dated January 24, 2002 and recorded on July 9, 2002 in COB 214,
page 118
as Document No. 250059 of the records of Catahoula Parish,
Louisiana.
8. Oil,
Gas and Mineral Lease by and between ▇▇▇▇▇ ▇▇▇▇▇▇, et al, and Cat Oil,
Inc.
dated May 15, 2002 and recorded on July, 2002 in COB 214, page 271 as Document
No. 250204 of the records of Catahoula Parish, Louisiana.
9. Oil,
Gas and Mineral Lease by and between ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ and Cat Oil, Inc.
dated
May 15, 2002 and recorded on May 15, 2002 in COB 214, page 271 as Document
No.
250204, of the records of Catahoula Parish, Louisiana.
10. Oil,
Gas and Mineral Lease by and between ▇▇▇▇▇▇ Oil Company and Cat Oil, Inc.
dated
May 1, 2002 and recorded on February 10, 2003 in COB 216, page 369 as Document
No. 251398 of the records of Catahoula Parish, Louisiana.
11. Oil,
Gas and Mineral Lease by and between ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, et al and ▇▇▇▇
Contracting Co., LLC dated April 25, 2005 and recorded on April 7, 2005
in COB
413, page 159 as Document No. 253587 of the records of Concordia Parish,
Louisiana.
PRODUCING
▇▇▇▇▇
1. ▇▇▇▇
1 SU320; PRICE 001 - Serial No. 121099
2. HUMBLE-TENSAS
▇▇▇▇▇ ▇▇▇▇ - ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇
3. HUMBLE-TENSAS
DELTA ▇-▇▇ - ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇
4. DEVILLE
HEIRS 001 - Serial No. 172875
5. DEVILLE
B 001 - Serial No. 228817
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6. ▇▇▇▇▇
002 - Serial No. 174204
7. ▇▇▇▇
▇▇ ▇▇▇; SL 7763 -KARAM 001 - Serial No. 164144
8. ▇▇▇▇
▇▇ ▇▇▇; SL ▇▇▇▇ ▇▇▇▇▇ ▇▇▇-▇▇▇ - ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇
9. PEABODY
002 - Serial No. 213803
10. PEABODY
003 - Serial No. 214328
11. PEABODY
005 - Serial No. 194163
12. PEABODY
006 - Serial No. 198302
13. PEABODY
007 - Serial No. 199817
14. PEABODY
010 - Serial No. 206781
15. PEABODY
▇▇▇ ▇▇▇ - ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇
16. PEABODY
▇▇▇ ▇▇▇ - ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇
17. PEABODY
▇▇▇ ▇▇▇ - ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇
18. PEABODY
LBM 016 - Serial No. 203943
19. BEE
BRAKE SUB; CONN 001 - Serial No. 213739
20. BEE
BRAKE SUA; CONN 002 - Serial No. 214632
DISPOSAL
▇▇▇▇▇
1. ▇▇▇▇
▇ ▇▇▇▇ ET AL SWD 001 - Serial No. 86216
2. ▇▇▇▇▇
SWD 001 - Serial No. 170845
3. ▇▇▇▇▇
SWD 003 - Serial No. 178106
4. PEABODY
LBM SWD 005 - Serial No. 187698
5. PEABODY
SWD 001 - Serial No. 214315
6. PEABODY
SWD 004 - Serial No. 192704
7. TDL-▇▇▇▇▇▇
SWD 001 - Serial No. 973155
8. ▇▇▇▇▇▇
SWD ▇-▇ - ▇▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇
Confidential
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EXHIBIT
C
EQUIPMENT
Peabody
5, 6, 7 & 10
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Description
|
Serial
Number
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(1)
National J-150 triplex pump
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6137
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(1)
Armco unidraulic vessels
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77-169-L
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(1)
Armco unidraulic vessels
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75-82-L
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(1)
LufkinC-228D-213-100
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F119839S-496336
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(1)
Natco 6 x 27 1/2 treater
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9B32101-01
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(1)
Goulds 3” x 2”
SW
pump
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(1)
30 hp Westinghouse electric motor
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P6066031005
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(1)
40 hp Worldwide electric motor
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0511457
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(2)
400 bbl metal stock tanks
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(2)
400 bbl metal SW tanks
|
Peabody
LBM 4, 10, 11 & 16
|
Description
|
Serial
Number
|
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|
(1)
National 4 x 27 1/2 treater (bad)
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414797
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(1)
National 4 x 27 1/2 treater
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412817
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(2)
400 bbl metal stock tanks
|
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(2)
400 bbl metal SW tanks
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(1)
300 bbl metal SW tank
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(1)
Goulds 2” x 1 1/2” SW pump
|
L0549123
|
|
|
(1)
Westinghouse 15 hp electric motor
|
AQ65101150001
|
|
|
(1)
86” pumping unit
|
▇▇▇▇-▇▇▇-▇▇▇▇
|
|
|
(1)
320 Salzgitter 120” stroke
|
25511170
|
|
|
(1)
Bethlehem 228D-205-64
|
S-505
|
▇▇▇▇▇
|
Description
|
Serial
Number
|
|
|
(3)
210 bbl metal stock tanks
|
||
|
(1)
▇▇▇▇▇ 4 x 27 1/2 treater
|
60647
|
|
|
(1)
American ▇▇▇-▇▇▇-▇▇
|
T20F86-3A-5040
|
|
|
(2)
300 bbl metal SW tanks
|
Peabody
2 & 3
|
Description
|
Serial
Number
|
|
|
(1)
▇▇▇▇▇ 4 x 27 1/2 treater
|
63191
|
|
|
(1)
4 x 27 1/2 treater
|
||
|
(4)
300 bbl metal stock tanks
|
||
|
(2)
300 bbl metal SW tanks
|
||
|
(1)
300 bbl metal tank (no good)
|
||
|
(1)
232 Waukesha engine
|
351985
|
|
|
(1)
1800 Series Gaso pump 2 1/2 - 4x6
|
18937
|
|
|
(1)
Armco unidraulic vessels
|
81-216-L
|
|
|
(1)
National J-165 triplex pump
|
▇▇▇▇▇
S.W.D.
|
Description
|
Serial
Number
|
||
|
Injection
pump - ▇▇▇▇▇▇▇▇ Triplex pump
|
|||
| P300 - 7956 |
2446
|
||
| (1) 300 tank | |||
Confidential
- Trendsetter Production
Company
9
of
10
EXHIBIT
C CONTINUED
EQUIPMENT
HTD
T-44 & T-60
|
Description
|
Serial
Number
|
|
|
(1)
300 bbl metal stock tank
|
||
|
(2)
300 bbl metal SW tanks
|
||
| (1) ▇▇▇▇▇ 4 x 20 treater | ||
|
(1)
310 Waukesha engine (busted block - bad)
|
327376
|
|
|
(1)
Summit 3” x 1 1/2” SW pump model 2196 MTO335230
|
||
|
(1)
American ▇▇▇-▇▇▇-▇▇
|
T15F64-15-3657
|
|
|
(1)
Cabot 160D-143-74
|
166B37
|
|
|
(1)
310 Waukesha engine
|
scratched
off; Spec: G38688
|
▇▇▇▇▇
- ▇▇▇▇
|
Description
|
Serial
Number
|
|
|
(1)
6 x 20 National treater
|
T5190001-03
|
|
|
(1)
CR15 Grundfos SW pump
|
||
|
(2)
400 bbl metal stock tanks
|
||
|
(5)
400 bbl metal stock tanks (bad)
|
||
|
(2)
Haywards 400 bbl fiberglass tanks
|
||
|
(1)
#1 Sentinel 22852460G86
|
2507
|
|
|
(1)
Lufkin C228D-213-86
|
E105393N-470421
|
Conn
#2
|
Description
|
Serial
Number
|
|
|
(2)
Lide 300 bbl metal stock tanks
|
||
|
(1)
Natco 4 x 20 treater
|
9741109-002
|
|
|
(1)
Natco 4 x 20 treater (bad)
|
9A66401-09
|
|
|
(l)
Lufkin C320D-298-100
|
AN17974E-268563
|
▇▇▇▇
▇▇▇▇▇ (Section 41 T5N-R3E. API
#17-079-20070)
|
Description
|
Serial
Number
|
||
|
Pumping
Unit - Lufkin
|
|||
| Type TC2A3.5 |
290
U
|
||
| Power 30 HP electric motor | |||
|
Tanks
- (2) 300 barrel stock tanks
|
|||
|
(1)
210 s.w. tank
|
|||
| (1) 4 x 20 Heater treater | |||
|
(1) ▇▇▇▇▇ Transfer Pump
|
ED469023
|
||
|
Power
5HP electric motor
|
|||
Deville
Heirs, (Section 3 T4N-R3E, API #17-079-20301)
|
Description
|
Serial
Number
|
||
|
Pumping
Unit - Lufkin
|
|||
| Type TC2ATr.35B |
14U
|
||
|
Tanks
- (1) 210 stock tank
|
|||
| (1) 300 s.w. tank | |||
| (1) ▇▇▇▇▇ Transfer pump (bad) | |||
Confidential
- Trendsetter Production Company
10
of
10