EXHIBIT 10.6
ASSIGNMENT OF OIL AND GAS LEASE WITH
RESERVATION OF OVERRIDING ROYALTY
Know All Men by These Presents, that the undersigned, Nova Leasing,
LLC., hereinafter called Assignor (whether one or more) for and in consideration
of Sixty-Four Thousand Dollars, the receipt whereof is hereby acknowledged, does
hereby sell, assign, transfer and set over to Sun River Energy, Inc.,
hereinafter called Assignee, all of its right, title and interest, subject to
the overriding royalty reservation hereinafter set out, in and to the oil and
gas lease dated August 2, 2004 , from the State of Wyoming, lessor, to Nova
Leasing, LLC., lessee, recorded as WY-04-00375 , insofar as said lease covers
the following described land in Natrona County, State of Wyoming: Sec 16, T 37N,
R 77W and containing 640 acres, more or less, together with the rights incident
thereto and the personal property thereon, appurtenant thereto, or used or
obtained in connection therewith.
The Assignor herein expressly excepts, reserves and retains title to
an undivided 3.5% of all oil, gas and casinghead gas produced, saved and
marketed from the above described land under the provisions of the aforesaid
lease, or any extension or renewal thereof, as an overriding royalty, free and
clear of any cost and expense of the development and operation thereof,
excepting taxes applicable to said interest and the production therefrom. There
is an existing 12.5% royalty to the State of Wyoming, and an existing 4% royalty
to Sharon Fowler as contained in the previous assignment from Sharon K. Fowler
to Assignor.
This Assignment is conditional upon Assignees agreement. To begin the
drilling of a well on some part of the above described land within 270 days
hereafter subject to drilling rig. availability for which this date may be
extended, and continue such drilling with reasonable diligence until a well has
been completed to the known oil producing sand of that territory, or granite or
other impenetrable substances, through which a reasonably prudent operator would
not undertake to drill, be encountered. If such well is not commenced by such
date, or extension thereof, then this Assignment shall be terminated and will
expire.
And for the same consideration the Assignor covenants with the
Assignee, its or his heirs, successors or assigns, that the Assignor is the
lawful owner of and has good title to the interest above assigned in and to said
lease, estate, rights and property, free and clear from all liens, encumbrances
or adverse claims; that said lease is a valid and subsisting lease on the land
above described, and all rentals and royalties due thereunder have been paid and
all conditions necessary to keep the same in full force have been duly
performed; and that the Assignor will warrant and forever defend the same
against all persons whomsoever, lawfully claiming or to claim the same.
Executed this 17th day of April, 2006.
ASSIGNEE ASSIGNOR
Sun River Energy, Inc. Nova Leasing, LLC
By: Michael A. Littman, President By: Robert G. Fowler
STATE OF COLORADO
COUNTY OF JEFFERSON
On this 17th day of April 2006, before me, the undersigned, a Notary
Public in and for said State, personally appeared Robert Fowler, Manager of Nova
Leasing, LLC, known to me to be the person whose name is subscribed to this
within instrument, and who upon oath swore that the statements therein contained
are true and correct.
WITNESS my hand and official seal.
My Commission expires: 3/20/2010
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Notary Public
Cynthia Shoemaker
STATE OF COLORADO
COUNTY OF JEFFERSON ss.
On this 17th day of April 2006, before me, the undersigned, a Notary
Public in and for said State, personally appeared Michael A. Littman, President
of Sun River Energy, Inc., known to me to be the person whose name is subscribed
to this within instrument, and who upon oath swore that the statements therein
contained are true and correct.
WITNESS my hand and official seal.
My Commission expires: 3/20/2010
Notary Public
Cynthia Shoemaker