PURCHASE AND OPTION AGREEMENT

Exhibit 10.5

PURCHASE AND OPTION AGREEMENT

THIS AGREEMENT made as of March 16, 2004.

BETWEEN:

QUANECO, L.L.C., a limited liability company organized under the laws of the State of Oklahoma (hereinafter referred to as “Quaneco”)

- and -

FELLOWS ENERGY, LTD., a body corporate incorporated under the laws of the State of Colorado (hereinafter referred to as “Fellows Energy”)

WHEREAS Quaneco has agreed to xxxxx Xxxxxxx Energy the exclusive and irrevocable option to acquire a 65% interest in the Assets and Fellows Energy has agreed to pay Quaneco the Initial Payment and conduct certain work on the Option Lands to have the exclusive right to exercise the option to acquire an interest in the Assets for the consideration and in accordance with the terms and conditions set forth herein;

NOW THEREFORE in consideration of the premises and the mutual covenants and agreements hereinafter set forth, the Parties agree as follows:

ARTICLE I - INTERPRETATION

1.1 Definitions

In this Agreement including the recitals, and the Schedules, unless otherwise stated or unless the context otherwise requires, the following words and phrases will have the meanings hereby assigned to them:

“Agreement”, “this Agreement”, “herein”, “hereby”, “hereto” and “hereof” and similar expressions mean and refer to this Agreement and includes any Schedules attached hereto and any agreement amending this Agreement or any agreement or instrument which is supplemental or ancillary hereto; and the expressions “Article”, “Paragraph” and “Subparagraph” followed by a number or letter or combination thereof, or “Schedule” followed by a letter, mean and refer to the specified Article, Paragraph, Subparagraph of, or Schedule to, this Agreement;

b)	“Assets” means an undivided sixty-five (65%) percent working interest and an undivided fifty-two (52%) percent net revenue interest in and to the Petroleum Rights, and an undivided sixty-five (65%) percent interest in the Tangibles and the Miscellaneous Interests;

“Closing” means the delivery by Fellows Energy to Quaneco of the Initial Payment, the commitment by Fellows Energy to its share of the Phase One Drilling Program, and such other actions, all as further detailed in Paragraph 3.1, occurring on the Closing Date, at the offices of Fellows Energy, Ltd. in Broomfield, Colorado;

d)	“Closing Conditions” means the conditions set out in Paragraph 3.2, which are for the sole benefit of Fellows Energy and which may be waived in whole or in part by Fellows Energy at any time on or before the Closing Date;

e)	“Closing Date” means the hour of 2:00 p.m. MST on March 16 , 2004, or such other time and date as may be agreed upon in writing by Quaneco and Fellows Energy;

f)	“Dollars” or “$” means the official and legal currency of the United States of America;

“Force Majeure” means any acts of God, including flood, fire, storms, lightning, landslides and earthquakes; any strikes, lockouts or other industrial disturbances; acts of war, blockades, insurrections, riots, arrests and restraints of rulers and peoples, civil disturbances and explosions; the binding order of any court or governmental authority; the issuance of a moratorium or significant restriction on drilling activity by any court or governmental authority; and any other cause, whether of the kind herein enumerated or otherwise, not within the control of the Party claiming suspension and which, by the exercise of due diligence, is unpreventable or incapable of being overcome. Lack of funds and economic hardship will not constitute Force Majeure;

h)	“Initial Payment” means the non-refundable payment, to be made by Fellows Energy to Quaneco at Closing, of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000.00).

“Leases” means, collectively, any and all leases, and other documents of title including, without limitation, all agreements granting, reserving or otherwise conferring rights to explore for, drill for, produce, take, use, market, share in the production of or the proceeds from the sale of Petroleum Substances; and rights to acquire any of the foregoing rights; but only if the foregoing pertain in whole or in part to Petroleum Substances within, upon or under the Option Lands, including, without limitation, those leases set out in Schedule “A” under the heading “Leases”;

“Miscellaneous Interests” means all right, title, estate and interest (whether absolute or contingent, legal or beneficial), of Quaneco in and to all property, assets and rights (other than the Petroleum Rights or Tangibles) pertaining to the Petroleum Rights or Tangibles including, without limitation:

(i)

all contracts, agreements, and documents relating to the Petroleum Rights;

(ii)

all surface leases, surface access right-of-way and damage agreements and any subsisting rights to enter upon, use or occupy the surface of any lands which are or may be used to gain access to or otherwise use the Petroleum Rights and/or the Tangibles;

(iii)

all Xxxxx; and

(iv)

all well, pipeline and other permits, licenses and authorizations relating to the Petroleum Rights or the Tangibles;

“Net Mineral Acre” means the full mineral interest in one (1) acre of Option Lands as set forth in Schedule “A”. Where consideration is expressed in this Agreement as being on the basis of dollars per Net Mineral Acre, such amount is based upon the number of Net Mineral Acres included in the Assets to be assigned to Fellows Energy pursuant to this Agreement;

“Operating Agreement” means the American Association of Petroleum Landmen Model Form Operating Agreement (A.A.P.L. Form 610 - 1989 version), including the rates, elections and modifications contained therein, and incorporating the XXXXX 1995 Accounting Procedure, which will be attached as an exhibit to the Operating Agreement, including the rates, elections and modifications contained therein. The Operating Agreement rates, elections and modifications will be negotiated by Quaneco and Fellows Energy and added as an addendum to this Agreement prior to the Closing Date;

m)	“Option” means the exclusive and irrevocable option granted by Quaneco to Fellows Energy to acquire the Assets, exercisable in accordance with Paragraph 4.1;

n)	“Option Lands” means the lands as described in Schedule “A”, together with the rights to explore for and recover the Petroleum Substances within, upon or under such lands, insofar only as such rights are granted by the Leases;

o)	“Option Period” means:

(i)

for Phase One of the Option Lands, as described in Schedule “A”, the period in time of six (6) months from the Closing Date, provided that if the Phase One Drilling Program is not completed within six (6) months from the Closing Date, due to delays caused by Force Majeure situations, the Option Period will be extended for a concurrent period of time equal to the period of time the Force Majeure situation existed; and

(ii)

for Phase Two of the Option Lands, as described in Schedule “A”, the period in time of twelve (12) months from the Closing Date provided that if the Phase Two Drilling Program is not completed within twelve (12) months from the Closing Date, due to delays caused by Force Majeure situations, the Option Period will be extended for a concurrent period of time equal to the period of time the Force Majeure situation existed;

p)	“Party” and “Parties” means the entity or entities, as the case may be, named in the first paragraph of this Agreement and any respective permitted successors or assigns;

q)	“Permitted Encumbrances” means:

(i)

liens for Taxes not at the time due or delinquent or the validity of which is being contested at the time in good faith by or on behalf of Quaneco, but only to the extent Quaneco, at its option, elects to indemnify Fellows Energy against such claims;

(ii)

builder’s, mechanic’s, laborer’s, carrier’s, warehouseman’s, materialman’s and similar liens being contested in good faith or not then delinquent, but only to the extent Quaneco, at its option, elects to indemnify Fellows Energy against such claims;

(iii)

easements, rights of way, servitudes or other similar rights in land which do not materially detract from the value of the land concerned or materially impair the use of the Assets affected thereby;

(iv)

rights of general application reserved to or vested in any governmental authority to levy Taxes on the Petroleum Substances or the income therefrom;

(v)

statutory exceptions to title, and the reservations, limitations, provisos and conditions in any original grants from the governments of the States of Utah or Wyoming or the United States of America of any of the mines and minerals within, upon or under the Option Lands; and

(vi)

lessor royalties, royalty burdens, liens, adverse claims, and other encumbrances (collectively the “Royalties” in this definition) set forth in Schedule “B” attached hereto or if such Royalties are not actually described, that total of such Royalties that result in Quaneco’s net revenue interest in the Leases equal eighty-percent (80%), as such net revenue interest is described under the heading “Lease NRI” in Schedule “A”;

r)	“Petroleum Rights” means all of Quaneco’s interest in and to the Leases, to the extent applicable to the Option Lands, as set forth in Schedule “A”;

“Petroleum Substances” means any of crude oil, crude bitumen and products derived therefrom, synthetic crude oil, petroleum, natural gas, natural gas liquids, coalbed methane, and hydrocarbons related to any of the foregoing, to the extent granted by or under the Leases, insofar only as they pertain to the Option Lands;

“Phase One Drilling Program” means the expenditure by Fellows Energy, after Closing, of approximately One Million Dollars ($1,000,000.00) to drill, test, complete, production test and shut-in or plug and abandon a minimum of five (5) core holes, the location and depth of the core holes to be mutually agreed to by the parties, on the Option Lands in the Prospect Area, as further detailed in Paragraph 3.3;

u)	"Phase Two Drilling Program" means the expenditures by Fellows Energy after the Phase One Drilling Program of at least One Million Dollars ($1,000,000.00) to complete a pilot well program of Fellows Energy's design.

v)	“Prospect Area” means the area containing the Option Lands and the area in which the Parties agree to jointly acquire lands, pursuant to the terms and conditions as set out in Article VII. The Prospect Area is identified in the map attached as Schedule “C”;

“Purchase Price 1” means the consideration payable by Fellows Energy to Quaneco, if Fellows Energy exercises the Option on Phase I of the Option Lands, of $15 per net mineral acre acquired of part or all of the Option Lands (maximum investment of 183,945 net mineral acres x 65% x $15 = $1,793,463.70);

x)	“Purchase Price 2” means the consideration payable by Fellows Energy to Quaneco, if Fellows Energy exercises the Option on Phase II of the Option Lands, of $35 per net mineral acres of part or all of the Option Lands (maximum investment of 183,945 net mineral acres x 65% x $35 = $4,184,748.70);

y)	“Tangibles” means all of Quaneco’s interest in and to any and all tangible and depreciable property including, without limitation, all well equipment located on the wellsites of the Xxxxx located on the Option Lands;

“Taxes” means all taxes imposed at a federal, state, county or local level affecting or related to the Assets, including but not limited to any windfall profit taxes, excise taxes, ad valorem taxes, production taxes and severance taxes, including interest and penalties, if any, thereon (but exclusive of federal and state income taxes and franchise or other taxes imposed upon Quaneco and Fellows Energy) incurred or accruing after the Closing Date; and

aa)	“Xxxxx” means all producing, suspended, shut-in, disposal or injection xxxxx located on the Option Lands including, without limitation, the xxxxx set forth and described in Schedule “A”.

1.2 Schedules

There is appended to this Agreement the following Schedules:

a)	Schedule “A”, containing a description of the Option Lands, Leases, Permitted Encumbrances and the Xxxxx;

b)	Schedule "B" containing a description of the Royalties that burden the Option Lands;

c)	Schedule “C”, containing a map which identifies the Prospect Area; and

d)	Schedule “D”, describing the drilling and geological requirements for Fellows Energy’s operations during the Phase One Drilling Program.

The Schedules are incorporated herein as though contained in the body hereof. Wherever any term or condition, express or implied of the Schedules conflict or are at variance with any term or condition in this Agreement, such term or condition of this Agreement will prevail.

1.3 Applicable Law

This Agreement will, in all respects, be subject to, construed and enforced in accordance with the laws of the State of Utah, without regard to principles of conflict of laws. Except with those matters which are the subject of arbitration as provided in Paragraph 9.7, the Parties do hereby irrevocably submit and attorn to the jurisdiction of the courts of the State of Utah for all other matters arising out of or in connection with this Agreement.

1.4 Successors and Assigns

This Agreement will enure to the benefit of and be binding upon the respective successors and permitted assigns of the Parties, subject to compliance with the provisions of Paragraph 9.6.

1.5 Interpretation

a)	Included Words: Words importing the singular number include the plural and vice versa and words importing gender include the masculine, feminine and neuter genders.

Waiver and Amendment: No failure of any Party in exercising any right or remedy hereunder will operate as a waiver thereof, nor will any single or partial exercise of any such right or remedy preclude any other or further exercise thereof or the exercise of any right or remedy in law or in equity or by statute or otherwise conferred. No waiver or amendment of any provision of this Agreement will be effective unless waived or varied by an instrument in writing dated subsequent to the date hereof, executed by duly authorized representatives of all Parties.

c)	Time: Time will be of the essence of this Agreement.

Entire Agreement: This Agreement constitutes the entire agreement of the Parties relative to the subject matter contained herein, and there are no oral or other representations or warranties connected with the subject matter hereof other than as are contained herein, except as and to the extent that any other agreement, document, or instrument, whether the whole or any terms thereof, may be incorporated herein by reference, or authorized, required or permitted by the terms hereof, or obligations contained therein may be assumed by any of the Parties or stated herein to be of continuing effect. Wherever any term or condition, express or implied of a document delivered in pursuance hereof conflicts or is at variance with any term or condition in this Agreement, such term or condition of this Agreement will prevail. Subject to the foregoing, this Agreement supercedes all prior agreements between the Parties relating to the subject matter contained herein.

ARTICLE II - TITLE OBJECTIONS AND THIRD PARTY RIGHTS AND CONSENTS

2.1 Title Review

Prior to the Closing Date, Fellows Energy will review Quaneco's title to the Assets. In Fellows Energy’s review of Quaneco’s title to the Assets, if any encumbrance, encroachment, claim or defect is disclosed by Fellows Energy’s title opinions or by the title information provided by Quaneco to Fellows Energy, county records, Bureau of Land Management records, or any other source, other than Permitted Encumbrances, which in the opinion of Fellows Energy renders title to the Assets not good or marketable or which otherwise constitutes a breach of any warranty or representation of Quaneco herein pertaining to the Assets, and which Fellows Energy does not waive (all of which herein are called “Title Defects”), Fellows Energy will give written notice to Quaneco of such Title Defects not later than five (5) days prior to the Closing Date Such notice will include a description of each Title Defect and the Option Lands affected thereby. Quaneco will diligently make all reasonable efforts to cure or rectify all Title Defects, not later than three (3) days prior to the Closing Date.

2.2 Cure

If the Title Defects are not cured or removed to the satisfaction of Fellows Energy at least three (3) days prior to Closing, Fellows Energy may, as its sole remedy for such Title Defects, elect in writing to:

a)	not close this Agreement, if the total of the Title Defects, which are not cured or removed to the satisfaction of Fellows Energy, affect more than fifteen (15%) percent of the Assets;

b)	grant a further period or periods of time, not to exceed fifteen (15) days, within which Quaneco will attempt to cure or remove the Title Defects, in which event the Closing Date will be deferred for a like period;

c)	waive the uncured Title Defects; or

d)	delete the affected Assets from this transaction and reduce the Purchase Price 1 and/or Purchase Price 2, as the case may be, if Fellows Energy exercises the Option) accordingly, which remedy must be mutually agreed to by Quaneco and Fellows Energy.

ARTICLE III - CLOSING AND PHASE ONE DRILLING PROGRAM

3.1 Closing

Subject to the Closing Conditions, at Closing, the following will occur, all of which will be deemed to have occurred simultaneously:

a)	Fellows Energy will deliver one hundred (100%) percent of the Initial Payment to Quaneco, on behalf of Fellows Energy, by wire transfer of funds to a bank and bank account of Quaneco’s choosing;

b)	Quaneco and Fellows Energy will execute, acknowledge and deliver a mutually agreeable memorandum of this Agreement, suitable for recording where appropriate, which will give notice of this Agreement and the rights of the Parties;

c)	Quaneco will execute and deliver to Fellows Energy a designation of operator or other documents that might be reasonably required to afford Fellows Energy access to the Option Lands and Leases in order to conduct the Phase One Drilling Program.

3.2 Closing Conditions

The obligation of Fellows Energy to attend Closing, pay the Option Payment and commit to its share of the Phase One Drilling Program is subject to the following Closing Conditions:

Fellows Energy will have done such due diligence regarding Quaneco's interest in and title to the Assets including, but not limited to, verification that the Parties comprising Quaneco collectively own a one hundred (100%) percent working interest in the Option Lands and the Leases, the Leases have a net revenue interest of not less than eighty (80%) percent and that Quaneco is capable of assigning the Assets to Fellows Energy;

b)	Fellows Energy will have the opportunity to review, and will be satisfied with, all agreements relating to Quaneco's interest in the Assets;

c)	At the Closing Date, Fellows Energy shall be designated as operator for the exploration, development and production of all coalbed methane on the Option Lands and within the Prospect Area;

d)	The Assets and the Prospect Area will not be subject to any contracts for the production, sale and transportation of petroleum substances.

3.3 Phase One Drilling Program

Fellows Energy agrees to complete the Phase One Drilling Program during the initial six (6) months of the Option Period. The expenditure amount required by Fellows Energy in the Phase One Drilling Program will include all direct costs incurred by Fellows Energy’s staff or consultants (limited to ten (10%) percent of the total spent) to manage the Phase One Drilling Program, but will not include any of Fellows Energy’s overhead and managerial costs. All information, data, records and related materials from the Phase One Drilling Program activity will be the joint property of the Parties and Fellows Energy will provide such information to Quaneco as it is obtained In the event Fellows Energy does not elect to exercise the Purchase Price 1, then any costs incurred and paid by Fellows Energy in the Phase One Drilling Program, including any costs incurred in excess of the One Million Dollars ($1,000,000.00), will vest and inure to the sole benefit of Quaneco.

3.4 Phase Two Drilling Program

In the event that Fellows Energy elects to exercise Purchase Price 1, Fellows Energy agrees to complete the Phase Two Drilling Program during the initial twelve (12) months of the Option Period. The expenditure amount required by Fellows Energy in the Phase Two Drilling Program will include all direct costs incurred by Fellows Energy’s staff or consultants (limited to ten (10%) percent of the total spent) to manage the Phase Two Drilling Program, but will not include any of Fellows Energy’s overhead and managerial costs. All information, data, records and related materials from the Phase Two Drilling Program activity will be the joint property of the Parties and Fellows Energy will provide such information to Quaneco as it is obtained In the event Fellows Energy does not elect to exercise the Purchase Price 2, then any costs incurred and paid by Fellows Energy in the Phase Two Drilling Program, including any costs incurred in excess of the One Million Dollars ($1,000,000.00), will vest and inure to the sole benefit of Quaneco.

3.5 Activity During Option Period

a)	During the Option Period, Fellows Energy will assume the responsibilities of operator, and conduct all operations consistent with its ultimate ownership interest as if it had exercised the Option.

The Parties further agree that, after Fellows Energy’s payment of the Initial Payment to Quaneco at Closing, and during the Phase One and Phase Two Option Period, the ongoing operation of the Option Lands and Leases and relationship between the Parties in respect of the Option Lands and Leases and the Phase One and Phase Two Drilling Programs will be governed by this Agreement.

All of Fellows Energy’s operations in the Phase One and Phase Two Drilling Programs will be conducted in a careful and workmanlike manner consistent with good oil field practices and in compliance with all applicable laws, rules and regulations, and in accordance with the drilling and geological requirements set out in Schedule “D”. Fellows Energy agrees to comply with and observe all of the terms and conditions of the Leases and amendments, addendums and exhibits thereto, covering the Option Lands. Fellows Energy agrees to indemnify and save Quaneco harmless from all claims, demands, losses, damages and liabilities resulting from or arising out of the violation of any such laws, rules and regulations or the breach of any provisions of such Leases, and agrees to defend any suit that may be brought and pay any judgment that may be rendered against Quaneco for any such breach or violation as a result of Fellows Energy’s operations in the Phase One and Phase Two Drilling Program.

ARTICLE IV - EXERCISE OF OPTION

4.1 Exercise of the Option (s)

On or before the end of the initial six month Option Period for the Option Lands, Fellows Energy may elect to exercise the Option to perform the Phase Two Drilling Program of the Option Lands. If Fellows Energy elects to exercise the Option to perform the Phase Two Drilling Program on the Option Lands, it must provide its election in writing to Quaneco and pay to Quaneco the Purchase Price 1. On or before the twelve (12) month Option Period on the Option Lands, Fellow Energy may elect to exercise the Purchase Price 2 to acquire the Assets in the Option Lands, it must provide its election in writing to Quaneco and pay to Quaneco the Purchase Price 2. Upon Fellows Energy electing to exercise the Option and concurrently with Fellows Energy paying the Purchase Price 2, Quaneco will deliver the assignments and other conveyances of the Assets in the Option Lands to Fellows Energy within ten business days, and Fellows Energy and Quaneco will thereafter participate in all future work on the Option Lands and Leases at their respective working interests, subject to the Operating Agreement, with Fellows Energy named as operator therein. In the event Fellows Energy does not elect to exercise the Option to pay Purchase Price 2 and to acquire the Assets in the Option Lands, then Fellows Energy’s right to acquire the Assets will terminate, Fellows Energy will no longer be the operator of any of the Option Lands and the Option Payment and any other payments and all information from the Drilling Program will be retained by Quaneco.

ARTICLE V - REPRESENTATIONS AND WARRANTIES

5.1 Covenants, Representations and Warranties of Quaneco

Fellows Energy acknowledges that the acquisition of the Assets is on an “as is, where is” basis, without representation and warranty and without reliance on any information provided to Fellows Energy by Quaneco or any third party, and Quaneco, where applicable and as the case may be, make the following representations and warranties to Fellows Energy in respect of the Assets:

Quaneco is a valid and subsisting limited liability company and is validly existing under the laws of its jurisdiction of organization and the jurisdiction within which the Assets are located; and has all requisite power and authority to assign a proportionate interest in the Petroleum Rights, Tangibles and Miscellaneous Interests which together will comprise the Assets;

b)	the transactions contemplated in this Agreement have been duly and validly authorized and all documents and instruments contemplated in this Agreement, including this Agreement, have been duly and validly authorized, executed and delivered;

the transactions contemplated in this Agreement will not violate, nor be in conflict with any provisions of Quaneco's constituting documents, by-laws or governing documents, or any agreement or contract or instrument to which it is a party or by which it is bound or any judgment, decree, order, statute, rule or regulations applicable to it;

d)	this Agreement, and all documents and instruments contemplated thereby, are legal, valid and binding obligations of Quaneco, enforceable against it in accordance with their respective terms;

e)	Quaneco has incurred no obligation or liability for broker’s or finder’s fees in respect of this Agreement, or the transactions contemplated hereby, for which Fellows Energy will have any obligation or liability;

the Assets are free and clear of all mortgages, pledges, liens, charges, burdens and encumbrances (other than the Permitted Encumbrances) created by, through or under Quaneco, but, subject to the foregoing, Quaneco will not be bound to convey and does not warrant any better title to the Assets than it now has;

Quaneco has received no notice of default including, without limitation, a notice of work required to be done, under any agreement relating to the Assets to which it is a party or by which it is bound, or with respect to any statute, order, writ, injunction or decree of any governmental agency or of any court which might adversely affect the Assets;

Quaneco has made or has caused to be made proper and timely payments of all royalties, bonus payments, option payments, rentals and deposits due under the Leases and has complied with, performed, observed and satisfied or has caused to be complied with, performed, observed and satisfied all material terms, conditions, obligations and liabilities which have arisen under any of the provisions of any of the Leases or any agreements or instruments or any statute, order, writ, injunction or decree of any governmental agency or of any court relating to the Assets;

i)	subject to the Permitted Encumbrances, Quaneco has done no act or suffered or permitted no action to be done whereby any individual or legal entity has acquired or may acquire any interest in or to the Assets;

j)	there are no existing or outstanding authorities for expenditures related to the Assets, nor any other financial commitments which are now outstanding or due, other than usual operating expenses incurred in the normal course of business;

k)	to the best of its knowledge, without having made any special inquiry, all Taxes that pertain to the Assets and that are due and payable by Quaneco have been properly paid;

l)	to the best of its knowledge, without having made any special inquiry, no suit, action or other proceeding is commenced, pending or threatened before any court or governmental agency or tribunal, which might have a material adverse affect on the Assets;

subject to the rents, covenants, conditions and stipulations contained in the Leases, Fellows Energy may enter into and upon, hold and enjoy the Leases for the residue of their respective terms and all renewals or extensions of the Leases for its own use and benefit, without any lawful interruption by Quaneco or any individual or entity claiming, or to claim, by, through or under Quaneco, except pursuant to Permitted Encumbrances;

These representations and warranties of Quaneco herein contained are true in all respects when made and additionally will be true on and as of the Closing Date. These covenants, representations and warranties will either be in or deemed to apply to the assignments and other conveyances described in Paragraph 3.1, and there will not be any merger of any covenant, representation or warranty in such assignments and other conveyances, any rule of law, equity or statute to the contrary notwithstanding, and all such covenants, representations and warranties will survive Closing for a period of twenty four (24) months.

5.2 Covenants, Representations and Warranties of Fellows Energy

Fellows Energy hereby covenants with, and represents and warrants to Quaneco in respect of the Assets, that:

a)	Fellows Energy is a valid and subsisting corporation and is validly existing under the laws of its jurisdiction of incorporation and the jurisdiction within which the Assets are located, and has all requisite power and authority to acquire the Assets;

b)	the transactions contemplated in this Agreement have been duly and validly authorized and all documents and instruments contemplated in this Agreement, including this Agreement, have been duly and validly authorized, executed and delivered;

the transactions contemplated in this Agreement will not violate, nor be in conflict with any provisions of Fellows Energy's constituting documents, by-laws or governing documents, or any agreement or contract or instrument to which it is a party or by which it is bound or any judgment, decree, order, statute, rule or regulations applicable to it;

d)	this Agreement, and all documents and instruments contemplated thereby, are legal, valid and binding obligations of Fellows Energy enforceable against it in accordance with their respective terms;

e)	Fellows Energy has incurred no obligation or liability for broker’s or finder’s fees in respect of this Agreement or the transactions contemplated hereby for which Quaneco will have any obligation or liability;

f)	Fellows Energy is acquiring the Assets as principal and not as an agent of a third party.

These representations and warranties of Fellows Energy herein contained are true in all respects when made and additionally will be true on and as of the Closing Date. These covenants, representations and warranties will either be in or be deemed to apply to the assignments and other conveyances described in Paragraph 3.1, and there will not be any merger of any covenant, representation or warranty in such assignments, any rule of law, equity or statute to the contrary notwithstanding and all such covenants, representations and warranties will survive Closing for a period of twenty four (24) months.

ARTICLE VI - ADJUSTMENTS AND OPERATING MATTERS

6.1 Adjustments

Subject to all other provisions of this Agreement, there will be no adjustments of any kind and nature relating to the operation of the Assets as of the Closing Date, except that the Parties agree to the following:

prior to the Closing Date, all benefits and obligations relating to the Assets, including bonus and option payments made to the lessors of the Leases, annual delay rentals and shut-in royalties required to continue the Leases, operating costs and expenses, and capital costs, will be paid by and be the sole responsibility of Quaneco;

subsequent to the Closing Date and during the Option Period, all annual delay royalties and shut-in royalties required to continue the Leases will be shared as to Quaneco thirty-five percent (35%) and Fellows Energy sixty-five percent (65%) except to the extent that Fellows Energy elects not to exercise part or all of the Option in Phase I or Phase II of the Option Lands;

subsequent to the Closing Date and during the Option Period, all option payments made to the lessors of the Leases and required to extend the term of the Leases, will be shared as to Quaneco thirty-five percent (35%) and Fellows Energy sixty-five percent (65%) except to the extent that Fellows Energy elects not to exercise part or all of the Option in Phase I or Phase II of the Option Lands; and

6.2 Quaneco to Provide Notices to Fellows Energy

Following the Closing, Quaneco will forthwith provide to Fellows Energy all notices, specific information and other documents in respect of the Assets which it receives and will respond to such notices, information and other documents pursuant to the written instructions of Fellows Energy, if received on a timely basis, provided that Quaneco may (but will not be obliged to) refuse to follow instructions which it reasonably believes to be unlawful or in conflict with an applicable contract or Lease.

6.3 Specific Conveyances of Government Leases

With respect to those Leases issued by the government of the United States of America or agencies thereof, or by the State of Utah or agencies thereof, which require filing with and approval by the Bureau of Land Management or other agency of the United States of America, or by the appropriate agency by any state or local governmental authority or agency having jurisdiction thereof, (“Government Leases”), Quaneco will use its best efforts to assist and cooperate with Fellows Energy in obtaining the approval to the specific conveyance of the Assets from the agency having jurisdiction thereover. Any specific conveyances of Government Leases delivered to the Escrow Agent at Closing will:

a) be executed, acknowledged and delivered to the Escrow Agent;

b)	be on forms agreed upon between Quaneco and Fellows Energy, or where appropriate, on forms prescribed or suggested by the agency having jurisdiction thereover;

c)	evidence the assignment of the Assets; and

d)	not modify any of the terms, covenants and warranties herein set forth (except to the extent the specific conveyance better describes the particular Lease and Option Lands).

Each specific conveyance and this Agreement will, when taken together, be deemed to constitute but one assignment by Quaneco of the Assets as described in such specific conveyance.

ARTICLE VII - AREA OF MUTUAL INTEREST

7.1	Area of Mutual Interest

In this Article “mutual interest lands” means any leases, and any other documents of title including without limitation any agreements granting, reserving or otherwise conferring rights to explore for, drill for, produce, take, use, market, share in the production of or the proceeds from the sale of Petroleum Substances; any portion of which lie fifty (50%) percent or more within the Prospect Area.

The provisions of this Article will exist from the date of this Agreement and remain in effect until twenty four (24) months after Fellows Energy exercises the Option to acquire the Assets in the Option Lands, or, in the event Fellows Energy does not exercise the Option and its right to acquire the Assets in the Option Lands is terminated or expires, then the provisions of this Article will no longer be in effect as of the date of such termination or expiration.

c)	Each of the Parties represents and warrants that it is not a party to any agreement which predates this Agreement whereby it is obligated to offer an interest in any mutual interest lands to any third party, who is not a Party.

For the purpose of this Article, only money consideration actually paid for an interest in any mutual interest lands will be reimbursed. If one of the Parties (“Acquiring Party”) acquires an interest in mutual interest lands, the Acquiring Party will forthwith give written notice to the other Parties together with all pertinent information with respect thereto. Each of the other Parties will have the option to acquire an interest from the Acquiring Party equal to their respective participating interest, exercisable by payment of the proportionate share of the costs of acquisition within sixty (60) days of

receipt of notice of the acquisition. If the non-acquiring parties comprise more than one party and if one of the other parties does not exercise the option hereinbefore provided, the party (or parties) exercising the option will have a further option, exercisable by payment within twenty (20) days of notice thereof, to acquire from the Acquiring Party its proportionate share of the interest which was offered to the party which did not exercise the option in the original instance.

In the event the consideration is the fulfillment of an obligation to earn an interest instead of money consideration, then the non-acquiring party may elect to participate for its proportionate share in fulfilling such obligation, to earn its proportionate share of the earnable interest. In the event the consideration is neither cash nor the fulfillment of an obligation the Acquiring Party will set out its bona fide estimate of the value in cash of the consideration and the non-acquiring party may acquire an interest as though that estimate were a cash consideration pursuant to Subparagraph 7.1(c). In case of dispute as to the reasonableness of the estimate the matter will be referred to arbitration, pursuant to the provisions of Paragraph 9.7.

If any of the mutual interest lands are posted for public sale, the Parties will consult with a view to reaching an agreeable bid price for such lands and if agreement is reached Fellows Energy will make a bid therefore in the names and on behalf of all of the Parties. If agreement is not reached on a bid price by all of the Parties prior to forty-eight (48) hours before the time for submission of bids, each of the Parties may submit its own bid and may acquire an interest in the mutual interest lands for its own account and the provisions of Subparagraph 7.1(d) will not apply unless the party acquiring such lands does so at a price which differs by more than five (5%) percent from the price which such party had represented to the other parties as the price which such party would submit as a bid price, in which event such Acquiring Party must give the notice required under the provisions of Subparagraph 7.1(d).

With respect to any mutual interest lands in which all of the Parties acquire a working interest pursuant to this Article, the interests of the parties therein will forthwith become subject to the Operating Agreement, with Fellows Energy being appointed as operator and the interests of the Parties will be in accordance with the respective participating interests of the Parties, pursuant to Paragraph 3.5, subject to adjustments in accordance herewith.

ARTICLE VIII - INDEMNITY

8.1 Indemnity of Quaneco

Quaneco will be liable to Fellows Energy, its officers, directors, employees, agents, successors or permitted assigns (herein referred to collectively as “Fellows Energy”) for and, in addition, will indemnify and save Fellows Energy harmless from and against all claims, liabilities, actions, proceedings, demands, losses, costs, damages and expenses whatsoever which may be brought against or suffered by Fellows Energy or which it may sustain, pay or incur, as a direct consequence of Quaneco’s breach of any of Quaneco’s representations or warranties contained in Paragraph 5.1. No claim may be made against Quaneco for such liability or indemnity or pursuant to or based in any way upon the provisions of this Paragraph 8.1 unless written notice thereof with reasonable particulars will have been provided by Fellows Energy to Quaneco within twenty four (24) months of the Closing Date. The indemnified Party hereunder will give the indemnifying Party prompt notice in writing of any claim to which this Paragraph 8.1 applies and afford the indemnifying Party the reasonable opportunity to pay, settle or contest the claim at its expense.

8.2 Indemnity of Fellows Energy

Fellows Energy will be liable to Quaneco, its officers, directors, employees, agents, successors or permitted assigns (herein referred to collectively as “Quaneco”) for and, in addition, will indemnify and save Quaneco harmless from and against all claims, liabilities, actions, proceedings, demands, losses, costs, damages and expenses whatsoever which may be brought against or suffered by Quaneco or which it may sustain, pay or incur, as a direct consequence of Fellows Energy’s breach of any of Fellows Energy’s representations or warranties contained in Paragraph 5.2. No claim may be made against Fellows Energy for such liability or indemnity or pursuant to or based in any way upon the provisions of this Paragraph 8.2 unless written notice thereof with reasonable particulars will have been provided by Fellows Energy to Quaneco within twenty four (24) months of the Closing Date. The indemnified Party hereunder will give the indemnifying Party prompt notice in writing of any claim to which this Paragraph 8.2 applies and afford the indemnifying Party the reasonable opportunity to pay, settle or contest the claim at its expense.

8.3 Non-Merger of Indemnities and Liabilities

The liabilities and indemnities contained herein will be deemed to apply to, and will not merge in, all specific conveyances conveying the Assets to Fellows Energy or otherwise provided with respect to the transaction herein.

ARTICLE IX - GENERAL

9.1 Subrogation and Substitution

Quaneco will convey, to the extent permitted, the Assets to Fellows Energy with full rights of substitution and subrogation of Fellows Energy in and to all covenants, representations and warranties by others heretofore given or made in respect of the Assets or any part thereof.

9.2 Public Announcements

There will be no public release of information of any kind by any of the Parties with respect to this Agreement, and the transactions herein provided for, unless mutually approved by the Parties, which approval will not be unreasonably withheld, or, if such release is required by the law, including necessary disclosure under the security laws, then each of the Parties will receive a copy of such release at least twenty four (24) hours prior to its dissemination.

9.3 Confidential Information

In the event Fellows Energy does not close the transaction consistent with this Agreement or chooses not to exercise the Option, Fellows Energy agrees to return all information of any kind obtained by it from Quaneco, and its agents and representatives, concerning the Assets or the Prospect Area, including proprietary data obtained from drilling and testing coalbed methane xxxxx on the Option Lands (“Information”), and to keep any and all Information obtained by Fellows Energy or its agents and representatives confidential for a period of two (2) years from March 12, 2004. The Information obtained by Fellows Energy will not be considered confidential if:

a)	it obtained such Information from the public domain other than as a result of a disclosure by Fellows Energy, or one of its agents or representatives;

b)	such Information became available to Fellows Energy on a non-confidential basis from a source other than Quaneco, or one of its agents or representatives, where that source has represented to Fellows Energy it is entitled to disclose it; or

c)	such Information was known to Fellows Energy on a non-confidential basis prior to its disclosure to Fellows Energy by Quaneco, or one of its agents or representatives.

9.4 Severability

If, and to the extent that, any court of competent jurisdiction determines that it is impossible to construe any provision of this Agreement and consequently holds that provision to be invalid, illegal or unenforceable, such holding will in no way affect the validity of the other provisions of this Agreement, which will remain in full force and effect.

9.5 Further Assurances

The Parties will, from time to time, on and after Closing, at the request of the other and without further consideration, execute and deliver all such other and additional instruments, notices, releases and other documents, and will do all such other acts and things as may be necessary to more fully assure the subject matter of this Agreement, including the acquisition by Fellows Energy of the Assets.

9.6 Assignment

Except in respect of an affiliate, none of the Parties will assign their rights and obligations under this Agreement without obtaining the prior written consent of the other Parties. Where the assigning party wishes to assign its rights and obligations to an affiliate, it will provide the other Parties with prior written notice of such assignment. For this Paragraph, affiliate means a company, partnership or other legal entity which owns, directly or indirectly, fifty (50%) percent or more of a Party.

9.7 Arbitration

The Parties hereby submit all controversies, claims and matters of difference in any way related to this Agreement or the performance or breach of the whole or any part hereof to arbitration to be conducted in English in Sheridan, Wyoming, U.S.A., according to the Wyoming Uniform Arbitration Act, ________ ss ___-__-___ et seq (the “Act”) and pursuant to the commercial rules and practices of the American Arbitration Association (“AAA”) from time to time in force, except that if such rules and practices will conflict with the Act or the Wyoming Rules of Civil Procedure relating thereto (“RCP”) or any other provision of the law of the State of Wyoming then in force, such rules and provisions will govern. In addition, the Act and the RCP will supplement the AAA rules where no conflict exists. Except as authorized hereunder, arbitration of any such controversy, claim or matter of difference will be a condition precedent to any legal action thereon. This submission and agreement to arbitration will be specifically enforceable in accordance with the Act. Awards will be final and binding on all parties to the extent and in the manner provided by the RCP. Any party may apply to the Wyoming District Court having jurisdiction, for an appropriate judgement entered thereon and execution issued therefor. At the election of any party, said award may also be filed, and judgement entered thereon and execution issued therefor, with the clerk of one or more other courts, in the United States of America, or elsewhere, having jurisdiction over the party against whom such an award is rendered or its property.

9.8 No Partnership

The Parties do not intend that this Agreement create (and it shall not be construed to create) a joint venture, mining partnership, partnership or any type of association. None of the Parties are authorized to act as agent or principal for another Party with respect to any matter except as specifically provided herein.

9.9 Communications

Any notice, direction or other instrument required or permitted to be given under this Agreement by the Quaneco to Fellows Energy or Fellows Energy to Quaneco must be in writing and must be given by delivering the same personally to the following addresses:

a) if to Quaneco:

	Quaneco, L.L.C.	Quaneco, L.L.C.
	00000 Xxxxxxx Xxxx, Xxxxx 000	000 Xxxxx Xxxxxxxx
	Xxxxxxxxxx Xxxxx, XX 00000	Xxx Xxxxxxxxxx Xxxxxx, 00^xx Xxxxx
		Xxxxxxxx Xxxx, Xxxxxxxx 00000
	Attn: Xx. Xxxx Xxxxx	Attn: Xx. Xxxxxx X’Xxxxxx
	Fax: (000) 000-0000	Fax: (000) 000-0000

b)	if to Fellows Energy:

	Fellows Energy
	000 Xxxxxxxxxxx Xxxxxxxxx, Xxxxx 000
	Xxxxxxxxxx, XX 00000
	Attn: Xxxxxx X. Xxxxx
	Fax:

A party may from time to time change its address for service herein by giving written notice to the other party. Any notice may be served by personal service upon a party or by instantaneous electronic means to the number for notice hereunder. Any notice given by service upon a party and any notice given by instantaneous electronic means will be deemed to be given to and received by the addressee on the day (except Saturdays, Sundays, statutory holidays and days which the offices of the addressee are closed for business) of service, provided it is received within regular business hours. Any notice received outside of regular business hours will be deemed received on the next regular business day.

9.10 Counterpart Execution

This Agreement may be executed in counterpart and the counterparts together will be effective and binding on the Parties as if the same copy of this Agreement was executed by the Parties in each other's presence. Delivery of an executed counterpart may be by facsimile, which facsimile will be replaced by the delivery of three (3) executed originals as soon after signing as reasonably possible.

IN WITNESS WHEREOF the Parties have executed this Agreement as of the day and year first above written.

QUANECO, L.L.C.

Per: /s/ Xxxx Xxxxx

Name: Xxxx Xxxxx

Title: Managing Member

Per: /s/ Xxxxx Xxxxxxxxx

Name: Xxxxx Xxxxxxxxx

Title: Managing Member

FELLOWS ENERGY

Per: /s/ Xxxxxx X. Xxxxx

Name: Xxxxxx X. Xxxxx

Title: President

This is the counterpart execution page to a Purchase and Option Agreement for the Overthrust Prospect Area, Utah between Quaneco, L.L.C. and Fellows Energy, Ltd., dated March 12, 2004.

This is Schedule “A” attached to a Purchase and Option Agreement for the Overthrust Prospect, Utah and Wyoming between Quaneco, L.L.C. and Fellows Energy, Ltd., dated March 12, 2004.

Option Lands

Xxxxx

The percentages below do not reflect a 2% Overriding Royalty, proportionately reduced, to NERD Energy in the shallow depths only as defined by Xxxxxxxxx'x 1982 "Overthrust Stratigraphic Column". All Royalty interest above an 80% NRI was assigned to Agents of Quaneco, LLC. This document is meant to reflect an 80% burden on leases in which Fellows Energy Ltd. is earning a 65% Working Interest with the resulting Net Revenue Interest being 52% for Fellows Energy Ltd.'s account.

Lease #

Lessor

Lessee

Description

County

Date

Recording Book

Page

Acres Gross

Net

Terms

ORRI ASSIGNMENT

PERCENTAGE

NRI to Quaneco

172-WY

008.0025

Wyoming Bureau of Land Management

WYW-150907

Xxxxx Xxx Xxxxxx

Township 18 North, Range 120 West, 6th P.M.

Section 1: Xxxx 0, 0, 0, 0, X0X0

Xxxxx

8/1/00

Section 2: Xxxx 0, 0, 0, 0, X0X0, X0

Section 18: Xxxx 0, 0, 0, 0, X0, X0X0

Section 20: All

Section 30: Xxxx 0, 0, 0, 00, X0XX, XX

2534.88

10 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

0.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

173-WY

008.0026

Wyoming Bureau of Land Management

WYW-150906

Xxxxx Xxx Xxxxxx

Township 16 North, Range 120 West, 6th P.M.

Section 2: Xxxx 0, 0, 0, 0, X0X0, X0

Xxxxx

8/1/00

XxXxxxx R101794 P378-386

.625% of 8/8ths

Section 10: All

Xxxxxx XX-I

.01302% of 8/8ths

Xxxxxx XX-II

.01302% of 8/8ths

Xxxxxx

.182294% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

1459.65

10 yr, 1/8

83.42663800%

174-WY

008.0058

State of Wyoming

Lease # 00-00405

Xxxxxx Petroleum

Township 16 North, Range 120 West, 6th P.M.

Section 36: W2

Uinta

7/2/00

320

5 yr, 1/6

XxXxxxx R101794 P378-386

.625% of 8/8ths

Xxxxxx XX-I

.01302% of 8/8ths

Xxxxxx XX-II

.01302% of 8/8ths

Xxxxxx

.182294% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.25997100%

176-WY

008.0166

Wyoming Bureau of Land Management

WYW-137352

High Plains

Associates

Township 16 North, Range 120 West, 6th P.M.

Section 12: All

Uinta

9/1/95

XxXxxxx R101794 P378-386

.625% of 8/8ths

Section 14: All

Xxxxxx XX-I

.01302% of 8/8ths

Xxxxxx XX-II

.01302% of 8/8ths

Xxxxxx

.182294% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

1280

10 yr, 1/8

Quaneco II

2.5% of 8/8ths

81.42663800%

NEED ASSIGNMENT FROM HIGH PLAINS?

177-WY

008.0167

Wyoming Bureau of Land Management

WYW-137255

High Plains

Associates

Township 16 North, Range 120 West, 6th P.M. Section 4: Xxxx 0, 0, 0, 0, X0X0, X0

Xxxxx

9/1/95

XxXxxxx R101794 P378-386

.625% of 8/8ths

Section 6: Xxxx 0, 0, 0, 0, 0, X0XX, XXXX, X0XX, XX

Xxxxxx XX-I

.01302% of 8/8ths

Section 18: Xxxx 0, 0, 0, 0, XX, X0XX

Xxxxxx XX-II

.01302% of 8/8ths

Xxxxxx

.182294% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

1842.62

10 yr, 1/8

Quaneco II

2.5% of 8/8ths

81.42663800%

NEED ASSIGNMENT FROM HIGH PLAINS?

191-WY

008.0186

State of Wyoming

Lease # 00-00848

Xxxxxx Petroleum

Township 15 North, Range 119 West, 6th P.M. Section 16: All

Uinta

12/2/00

640

5 yr, 1/6

XxXxxxx R101794 P378-386

.625% of 8/8ths

Xxxxxx XX-I

.01302% of 8/8ths

Xxxxxx XX-II

.01302% of 8/8ths

NO ASSIGNMENT

Xxxxxx

.182294% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.25997100%

192-WY

008.0165

State of Wyoming

Lease # 00-645

Xxxxxx Petroleum

Township 15 North, Range 120 West, 6th P.M. Section 36: All

Uinta

10/2/00

640

5 yr, 1/6

XxXxxxx R101794 P378-386

.625% of 8/8ths

Xxxxxx XX-I

.01302% of 8/8ths

Xxxxxx XX-II

.01302% of 8/8ths

Xxxxxx

.182294% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.25997100%

194-WY

008.0176

008.0177

008.0179

008.0189

Xxxxxx Xxxxxxx Xxxx, a/k/a Xxxxxxx

Xxxx, and Xxxxxxxx Xxxxxxx Xxxx,

a/k/a Xxxxxxxx X. Xxxx, Husband and

wife, as individuals; and Xxxx Ranch

Limited Partnership, a Wyoming

limited partnership, by Xxxxxx Xxxxxxx

Xxxx, General Partner

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 16 North, Range 121 West, 6th P.M.

Section 2: Xxxx 0, 0, X0XX, XX, Less & Except a tract in Said Lot 2, described as follows: Beginning at the North quarter corner of said minutes 19 seconds East, 527.06 feet; thence South 29 degrees 19 minutes 31 seconds West, 608.55 feet; thence South 89 degrees 26 minutes 29 seconds West, 218.99 feet to the West line of said Lot 2; thence North 1 degree 4 minutes 57 seconds West, 531.01 feet, to point of beginning, said excepted tract containg 4.54 acres, more or less;

Uinta

1/10/01

746

573

XxXxxxx

Xxxxxx GC-I

Xxxxxx XX-II

Xxxxxx

Quantum Energy

Quaneco II

1.5% of 8/8ths

.03125% of 8/8ths

.4375% of 8/8ths

0.740028% of 8/8ths

2.5% of 8/8ths

82.25997200%

Township 17 North, Range 120 West, 6th P.M.

3 yr, opt

Section 20: SW

ext 4 yr

Section 30: Xxxx 0, 0, 0, 0, X0X0, X0

1197.9

620.36

1/8 xxx

197-WY

008.0182

Xxxx X. Xxxx and Xxxxx X. Xxxx,

individually and as Trustees of the

Xxxx X. Xxxx and Xxxxx X. Xxxx

Revocable Trust dated January 4, 1994

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 15 North, Range 120 West, 6th P.M.

Section 22: N2NE

Township 17 North, Range 120 West, 6th P.M.

Uinta

2/20/01

749

248

XxXxxxx

Xxxxxx GC-I

Xxxxxx XX-II

Xxxxxx

Quantum Energy

Quaneco II

1.5% of 8/8ths

.03125% of 8/8ths

.4375% of 8/8ths

0.740028% of 8/8ths

2.5% of 8/8ths

82.25997200%

Section 17: X0X0, XXXX, X0XX, and those parts of the W2NE, NWSE and N2SW described as follows: Commencing at the Northwest corner of said Section 17; thence South 0 degrees 44 minutes East along the West boundry line of said Section 17 a distance of 3888.2 feet to the point of beginning; thence North 71 degrees 54 minutes East 2693.3 feet; thence North 30 degrees 15 minutes East 1155.9 feet; thence North 15 degrees 25 minutes East 2098.0 feet to a point on the North line of said Section 17; thence East to the Northwest corner of the NENE of said Section 17; thence South along the quarter quarter line to the Northwest corner of the SESE of said Section 17; thence West along the quarter quarter line to the West line of said Section 17; thence North along the West boundry line of said Section 17 to the point of beginning. Total Section 17 lands containing 386.75 acres, more or less;

Section 18: S2SE, and xxxx parts of the E2NE and NESE described as follows: Commencing at the Northeast corner of said Section 18; thence North 89 degrees 58 minutes West along the North boundry line of said Section 18 a distance of 810 feet to the point of beginning; thence South 1694 feet; thence South 7 degrees 10 Minutes West 1421 feet; thence South 52 degrees 53 minutes East 1300.6 feet to a point on the East boundry line of said Section 18; thence South along the East boundry of said Section 18; to the Northeast corner of the SESE of said Section 18; thence West and along the North boundry line of the SESE of said Section 18 to the the Northwest corner of said SESE; thence North along the quarter quarter line to the North boundry of said Section 18; thence East along the North boundry line of said Section 18 to the point of beginning. Total Section 18 lands containing 126.53 acres, more or less;

Section 19: E2E2, SWSE

Section 20: Xxxx 0, 0, 0, 0

Xxxxxxxx 00 Xxxxx, Xxxxx 121 West, 6th P.M.

Section 12: SW, W2SE

Section 25: S2S2SE

3 yr, opt

Section 36: SENE, N2SE

1327.01

491.52

4 yr, 1/8

198-WY

008.0178

008.0180

Xxxxx X. Xxxxxx and Xxxxx X. Xxxxxx,

individually and as Trustees of the

Xxxxx & Xxxxx Xxxxxx Family Trust

dated January 24, 1997

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 17 North, Range 120 West, 6th P.M.

Section 20: SW, less and except a tract of land described as follows: Commencing at the Southwest corner of said Section 20, thence North 0 degrees 18 minutes 02 seconds West, 618.95 feet along the West line of said Section to the point of beginning; thence North 0 degrees 18 minutes 02 seconds West, 2027.62 feet along said West line to the West 1/4 corner of said Section 20; thence North 89 degrees 54 minutes 38 seconds East, 1607.03 feet along the North line of said Southwest 1/4; thence South 33 degrees 10 minutes 04 seconds West, 2086.04 feet; thence South 58 degrees 02 minutes 29 seconds West, 536.44 feet to point of beginning; said excepted tract containing 42.804 acres, more or less;

Uinta

2/14/01

749

253

XxXxxxx

Xxxxxx GC-I

Xxxxxx XX-II

Xxxxxx

Quantum Energy

Quaneco II

1.5% of 8/8ths

.03125% of 8/8ths

.4375% of 8/8ths

0.740028% of 8/8ths

2.5% of 8/8ths

82.25997200%

3 yr, opt

Section 30: Xxxx 0, 0, 0, 0, X0X0, X0

749.62

374.808

4 yr, 1/8

199-WY-A

008.0185

Xxxxxx Xxxxx Xxxx Xxxxxx, a single woman

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 17 North, Range 120 West, 6th P.M.

Section 19: Xxxx 0, 0, 0, 0, X0X0, X0XX, XXXX

Uinta

2/14/01

749

251

3 yr, opt

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

431.58

215.79

4 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

199-WY-B

008.0184

Xxxxxxx XxXxxx Xxxx Xxxxxxx, a widow

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 17 North, Range 120 West, 6th P.M.

Section 19: Xxxx 0, 0, 0, 0, X0X0, X0XX,

Uinta

2/14/01

749

249

3 yr, opt

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

NWSE

431.58

215.79

4 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

200-WY-A

008.0183

Skull Valley Company, LTD., a Utah

limited partnership, a/k/a Skull Valley

Company, a utah limited partnership

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 15 North, Range 121 West, 6th P.M.

Section 3: Xxxx 0, 0, 0, 0

Xxxxxxx 00: W2

Uinta

3/20/01

746

568

XxXxxxx

1.5% of 8/8ths

Section 23: W2

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Township 16 North, Range 121 West, 6th P.M.

3 yr, opt

Xxxxxx

.4375% of 8/8ths

Section 35: W2

1050.02

787.52

4 yr, 15%

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

Total

200-WY-B

Xxxxxxxx N.V., a Netherlands Antillas

Corporation

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 15 North, Range 121 West, 6th P.M.

Section 3: Xxxx 0, 0, 0, 0

Xxxxxxx 00: W2

Section 23: W2

3/23/01,

eff 4/17/01

757

655

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

NO ASSIGNMENT

Xxxxxx XX-II

.03125% of 8/8ths

Township 16 North, Range 121 West, 6th P.M.

3 yr, opt

Xxxxxx

.4375% of 8/8ths

Section 35: W2

1050.02

131.25

4 yr, 15%

Quantum Energy

0.740028% of 8/8ths

79.75997200%

Quaneco II

2.5% of 8/8ths

217-WY

Bureau of Land Management

WYW-153675

Xxxxx Xxx Xxxxxx

Xxxxxxxx 00 Xxxxx, Xxxxx 000 Xxxx, 0xx PM,

Section 20: Lots 5-8

Xxxxx

0/0/0000

XxXxxxx

1.5% of 8/8ths

Section 28: All

Xxxxxx XX-I

.03125% of 8/8ths

Section 32: Lots 1-5

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Township 16 North, Range 121 West, 6th PM

Quantum Energy

0.740028% of 8/8ths

Section 2: Lots 4, SWNW, SW

Quaneco II

2.5% of 8/8ths

82.25997200%

Section 10: Xxxx 0-0

Xxxxxxx 00: X0XX

Xxxxxxx 00: W2, SE

Township 17 North, Range 121 West, 6th PM

10 yr

Section 24: Lots 5-12

2087.86

1/8 xxx

Above and beyond 180K

218-WY

Bureau of Land Management

WYW-153673

Xxxxx Xxx Xxxxxx

Xxxxxxxx 00 Xxxxx, Xxxxx 000 Xxxx, 0xx PM,

Section 8: All

Xxxxx

0/0/00

XxXxxxx

1.5% of 8/8ths

Section 20: X0, X0X0

Xxxxxx XX-I

.03125% of 8/8ths

NO ASSIGNMENT

Section 22: All

Xxxxxx XX-II

.03125% of 8/8ths

Section 28: N2N2, SENE, S2SW, SWSE,

Xxxxxx

.4375% of 8/8ths

NESW, N2SE, SESE, Excl.

10 yr

Quantum Energy

0.740028% of 8/8ths

18.37 Ac in railroad right of way

2221.63

1/8 xxx

Quaneco II

2.5% of 8/8ths

82.25997200%

000-XX

Xxxxxx xx Xxxx Xxxxxxxxxx

XXX-000000

Xxxxx Xxx Xxxxxx

Xxxxxxxx 00 Xxxxx, Xxxxx 000 Xxxx, 0xx PM

Section 10: Xxxx 0, 0, 0, 0

Xxxxx

12/1/01

90.32

10 yr

1/8 xxx

XxXxxxx

1.5% of 8/8ths

82.25997200%

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

NO ASSIGNMENT

TOTAL NET ACRES

15954

Lease #

Lessor

Lessee

Description

County

Date

Recording Book

Page

Acres Gross

Net

Terms

ORRI ASSIGNMENT

PERCENTAGE

NRI to Quaneco

100-UT

008.0032

Xxxxxx X. Xxxxxxx, Xx.

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 4 North, Range 6 East, S.L.M.

Section 28: X0XX, X0XX

Section 34: XXXX, XXXX, X0XX

Summit

1/17/00

1323

281

320

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

101-A-UT

008.0037

Xxxx X. X'Xxxxxx, f/k/a Xxxx X. Xxxxxxxxx, and Xxxx X. Xxxxxxxxx as Co-Trustees of the Xxxxxxxxx Family Trust, dated 6/21/71

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 6 East, S.L.M.

Section 2: Xxxx 0, 0, 0, 0, X0X0, X0

Section 4: SESW

Section 22: E2W2

Section 26: W2NW

Township 4 North, Range 6 East, S.L.M.

Section 32: Xxxx 0, 0, 0, 0, X0X0, X0

Summit

1/22/00

1323

261

1473.86

741.43

3yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

101-B-UT

008.0038

Xxxx X. Xxxxxxx and Xxx Xxxxxxx, husband and wife

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 6 East, S.L.M.

Section 2: Xxxx 0, 0, 0, 0, X0X0, X0

Section 4: SESW

Section 22: E2W2

Section 26: W2NW

Township 4 North, Range 6 East, S.L.M.

Section 32: Xxxx 0, 0, 0, 0, X0X0, X0

Summit

1/28/00

1323

259

1473.86

61.04

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

101-C-UT

008.0039

Xxxx X. Xxxxxxx and Xxxxxx X. Xxxxxxx, wife and husband

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 6 East, S.L.M.

Section 2: Xxxx 0, 0, 0, 0, X0X0, X0

Section 4: SESW

Section 22: E2W2

Section 26: W2NW

Township 4 North, Range 6 East, S.L.M.

Section 32: Xxxx 0, 0, 0, 0, X0X0, X0

Summit

1/28/00

1323

265

1473.86

183.11

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

101-D-UT

008.0040

Xxxxx X. Xxxxxx and Xxxx Xxxxxx,

husband and wife

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 6 East, S.L.M.

Section 2: Xxxx 0, 0, 0, 0, X0X0, X0

Section 4: SESW

Section 22: E2W2

Section 26: W2NW

Township 4 North, Range 6 East, S.L.M.

Section 32: Xxxx 0, 0, 0, 0, X0X0, X0

Summit

1/28/00

1323

263

1473.86

183.11

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

101-E-UT

008.0041

Xxxx Xxxxxxx Xxxxx and Xxxxxx Xxxxx, wife and husband

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 6 East, S.L.M.

Section 2: Xxxx 0, 0, 0, 0, X0X0, X0

Section 4: SESW

Section 22: E2W2

Section 26: W2NW

Township 4 North, Range 6 East, S.L.M.

Section 32: Xxxx 0, 0, 0, 0, X0X0, X0

Summit

1/28/00

1323

267

1473.86

61.04

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

101-G-UT

008.0042

Xxxxxxxx X. Xxxxxx and Xxxxxx X. Xxxxxx, Trustees of the Xxxxxxxx X. Xxxxxx Family Living Trust, dated May 26, 1988

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 6 East, S.L.M.

Section 2: Xxxx 0, 0, 0, 0, X0X0, X0

Section 4: SESW

Section 22: E2W2

Section 26: W2NW

Township 4 North, Range 6 East, S.L.M.

Section 32: Xxxx 0, 0, 0, 0, X0X0, X0

Summit

1/28/00

1323

269

1473.86

183.11

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

102-UT

008.0007

Xxxxx X. Xxxx and Edmeresa X. Xxxx, husband and wife

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 5 East, S.L.M.

Section 16: All

Section 22: S2SE

Section 28: S2NE, SE, SESW

Summit

2/3/00

1323

285

1000

560

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

103-UT

008.0036

Xxxxxx Xxxxxxx Xxxxxxx and Xxxxx Xxxx Xxxxxxx, husband and wife

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 2 North, Range 5 East, S.L.M.

Section 2: Xxx 0, XXXX, XX

Xxxxxxx 00: NWNW

Summit

1/27/00

1323

283

282.09

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

104-A-UT

008.0045

Xxxxxx X. Xxxxx, Successor Trustee of the Xxxxxx Xxxxxx Xxxxx Family Living Trust, dated October 13, 1982

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 5 East, S.L.M.

Section 36: All

Township 3 North, Range 6 East, S.L.M.

Section 16: All

Section 25: S2S2

Section 32: All

Section 36: N2N2

Township 3 North, Range 7 East, S.L.M.

Section 16: Lots 1, 2, and all of lot 3 less

and excep

Summit

2/22/00

1323

271

2330.77

388.46

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

105-UT

008.0132

Utah Bureau of Land Management

UTU-78765

Xxxxx Xxx Xxxxxx

Township 1 North, Range 6 East, S.L.M.

Section 20: X0, X0XX, XXXX, XXXX,

X0XX

Section 30: Xxxx 0, 0, 0, 0, XX, X0X0,

XXXX, X0XX

Summit

3/1/00

1117

10 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

104-B-UT

008.0046

Xxxxx X. Xxxxx, sole remaining Trustee of the X. X. Xxxxx and Xxxxx X. Xxxxx Revocable Trust, dated June 14, 1988

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 5 East, S.L.M.

Section 36: All

Township 3 North, Range 6 East, S.L.M.

Section 16: All

Section 25: S2S2

Section 32: All

Section 36: N2N2

Township 3 North, Range 7 East, S.L.M.

Section 16: Lots 1, 2, and all of lot 3 less

and excep

Summit

3/11/00

1323

273

2330.77

388.46

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

104-C-UT

008.0047

Xxxx X. Xxxxxxx, as Trustee of the Xxxxxxx Xxxxxxx and Xxxx X. Xxxxxxx Revocable Trust

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 5 East, S.L.M.

Section 36: All

Township 3 North, Range 6 East, S.L.M.

Section 16: All

Section 25: S2S2

Section 32: All

Section 36: N2N2

Township 3 North, Range 7 East, S.L.M.

Section 16: Lots 1, 2, and all of lot 3 less

and excep

Summit

3/11/00

1323

275

2330.77

388.46

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

104-D-A-UT

008.0050

Xxxxxxx Xxx Xxxxx and Xxxxxxxx Xxxxx Xxxxx, as Trustees of the Xxxxxxx Xxx Xxxxx Trust, dated January 25, 1995

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 5 East, S.L.M.

Section 36: All

Township 3 North, Range 6 East, S.L.M.

Section 16: All

Section 25: S2S2

Section 26: S2NE, NESW, NWNE

Section 32: All

Section 36: N2N2

Township 3 North, Range 7 East, S.L.M.

Section 16: Lots 1, 2, an

Summit

3/11/00

1323

277

2490.77

274.23

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

008.0048

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

104-E-B-UT

008.0051

Xxxxxxx Xxxxxxx Xxxxx, sole remaining Trustee of the Xxxxxx X. Xxxxx Trust, dated January 25, 1995

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 5 East, S.L.M.

Section 36: All

Township 3 North, Range 6 East, S.L.M.

Section 16: All

Section 25: S2S2

Section 26: S2NE, NESW, NWNE

Section 32: All

Section 36: N2N2

Township 3 North, Range 7 East, S.L.M.

Section 16: Lots 1, 2, an

Summit

3/11/00

1323

279

2490.77

274.23

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

008.0049

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

106-UT

008.0008

Xxxxxx X. Xxxxxxxx and Xxxxxxxx X. Xxxxxxxx, individually and as Trustees of the Xxxxxx X. Xxxxxxxx and Xxxxxxxx X. Xxxxxxxx Revocable Trust

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 3 North, Range 5 East, S.L.M.

Section 16: N2, SW

Summit

2/15/00

1323

287

480

120

3 yr, Opt

4 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

DON’T HAVE TITLE WORK OR NOTES

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

107-UT

008.0044

Xxxxxxx Minerals Limited Partnership, a Utah Limited Partnership

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 9 North, Range 8 East, S.L.M.

Section 8: S2

Section 9: Xxxx 0, 0, 0, 0, X0X0

Xxxxxxx 00: Xxxx 0, 0, 0, 0, X0X0

Xxxxxxx 00: All

Section 20: Beginning at the NE corner of

said section 20, thence running West

5286.60 feet to the NW corner

Rich

3/17/00

Rich

Uinta

735

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Township 00 Xxxxx, Xxxxx 000 Xxxx, 0xx PM

Resurvey Tract 38

Originally described as: Section 30: Xxxx

0, 0, X0XX

Xxxxxxxx 00 Xxxxx, Xxxxxx 120 and 121

West, 6th PM

Resurvey Tract 39

Originally described as:

Township 18 North, Range 121

Uinta, WY

2409.77

3 yr, 1/8

opt 4yr

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

108-UT

008.0043

Xxxxxx X. Xxxxxxx, a/k/a Xxxxxx Xxxxxxx, and Xxxxxxxxx X. Xxxxxxx, husband and wife

Xxxxx Xxx Xxxxxx, d/b/a Xxxxxx Petroleum

Township 9 North, Range 7 East, S.L.M.

Section 8: XXXX, X0XXXX, XXXXXX, and the following two tracts:

Tract 1: Commencing 40 rods South of the Northeast Corner of the Southeast Quarter of said Section 8, running thence North 100 feet, thence West 660 feet

Rich

3/17/00

XxXxxxx

1.5% of 8/8ths

Excepted Tract 2: Commencing 776 feet West of the Northeast Corner of the Southeast Quarter of said Section 8, running thence West 425 feet, thence South 360 feet, thence East 425 feet, thence North 360 feet to the place of beginning, containing 3.51 acre

Xxxxxx XX-I

.03125% of 8/8ths

Section 17: N2N2NENE, W2NE, NW, LESS AND EXCEPT the following tract: Commencing at the Northwest Corner of said Section 17; running thence South 64.5 rods to the center line of the County Road; thence on the center line of said County Road, North 61 degre

Xxxxxx XX-II

.03125% of 8/8ths

Section 18: S2NE, SE, and the following tract: Commencing at the Southeast Corner of the Southwest Quarter of said Section 18, thence West 69 rods, thence North 240 rods, thence East 69 rods, thence South 240 rods, to the point beginning, said tract conta

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Xxxxxxxx 0 Xxxxx, Xxxxx 0 Xxxx, X.X.X.

Xxxxxxx 00: Lots 1(40.24), 2(40.08), 3(39.94),

4(39.94), X0X0, X0

Section 20: Commencing at the Southeast Corner of said Section 20, thence West 5,286.60 feet to the Southwest Corner of said Section

Quaneco II

2.5% of 8/8ths

82.25997200%

109-UT

008.0129

Utah Bureau of Land Management

UTU-78766

Xxxxx Xxx Xxxxxx

Township 7 North, Range 8 East, S.L.M. Section 4: Xxxx 0, 0, 0, 0

Xxxxxxx 6: Xxxx 0, 0, 0, X0XX, XXXX,

X0XX, XX

Rich

3/1/00

668.53

10 yr

1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

110-UT

008.0130

Utah Bureau of Land Management

UTU-78767

Xxxxx Xxx Xxxxxx

Township 2 North, Range 6 East, S.L.M.

Section 4: Xxxx 0, 0, X0XX

Section 8: X0XX, XXXX, X0XX, SE

Section 18: Xxxx 0, 0, 0, 0, X0X0, X0

Summit

3/1/00

1160.2

10 yr

1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

111-UT

008.0001

State of Utah

Mineral Lease # 48443

Xxxxx Xxx Xxxxxx

Township 1 North, Range 4 East, S.L.M.

Section 8: Xxxx 0, 0, 0, 0, X0XX, XXXX,

XXXX, SESE

Section 12: Xxxx 0, 0, X0XX, X0XX

Section 18: Xxxx 0, 0, 0, 0, 0, 0, 0, 00, 11,

12, N2NE, SENE, NESE, SWSE

Section 20: N2NE, SEN

Xxxxxx

Summit

Xxxxxx

Xxxxxx & Summit

Summit

2/9/00

2143.01

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

112-UT

008.0002

State of Utah

Mineral Lease # 48444

Xxxxx Xxx Xxxxxx

Township 1 North, Range 5 East, S.L.M.

Section 12: SENE, NESW

Summit

2/9/00

10 yr 1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

113-UT

008.0003

State of Utah

Mineral Lease # 48445

Xxxxx Xxx Xxxxxx

Township 2 North, Range 4 East, S.L.M.

Section 6: Xxxx 0, 0, 0, XXXX, XX

Section 18: Xxxx 0, 00

Xxxxxxx 00: Xxxx 0, 0, 00

Xxxxxxx 00: W2W2, SESE

Section 24: Xxxx 00, 00

Xxxxxxx 00: SENE

Section 34: XXXX, XXXX, X0XX, X0XX

Xxxxxx

Summit

Xxxxxx & Summit

2/9/00

1023.87

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

114-UT

008.0148

State of Utah

Mineral Lease # 48446

Xxxxx Xxx Xxxxxx

Township 2 North, Range 5 East, S.L.M.

Section 16: NWSE

Section 18: E2NE, NESE

Section 30: Lot 2

Summit

2/9/00

199.24

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

115-UT

008.0149

State of Utah

Mineral Lease # 48447

Xxxxx Xxx Xxxxxx

Township 2 North, Range 6 East, S.L.M.

Section 16: NWNW, NESW, SWSW

Summit

2/9/00

120

10 yr 1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

116-UT

008.0150

State of Utah

Mineral Lease # 48448

Xxxxx Xxx Xxxxxx

Township 3 North, Range 5 East, S.L.M.

Section 4: Xxxx 0, 0, XXXX, X0XX, XX,

X0XX, XXXX

Section 6: Xxxx 0, 0, 0, 0, X0XX, XXXX,

X0XX, XX

Section 8: SWNE, SENW, NESW, NWSE

Section 24: SENE, SE

Section 30: SWNE, SEN

Summit

2/9/00

1367.42

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

117-UT

008.0152

State of Utah

Mineral Lease # 48449

Xxxxx Xxx Xxxxxx

Township 3 North, Range 6 East, S.L.M.

Section 4: Xxx 0, XXXX, SESE

Section 10: SENE, NW, W2SE

Section 14: NWNE

Section 30: W2NE, NESW, NWSE

Summit

2/9/00

599.09

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

118-UT

008.0153

State of Utah

Mineral Lease # 48450

Xxxxx Xxx Xxxxxx

Township 4 North, Range 5 East, S.L.M.

Section 30: Xxxx 0, 0, 0, 0, X0XX, XXXX,

X0X0, XX

Summit

2/9/00

539.44

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

119-UT

008.0154

State of Utah

Mineral Lease # 48451

Xxxxx Xxx Xxxxxx

Township 4 North, Range 6 East, S.L.M.

Section 22: SW

Section 28: NE, NESE

Summit

2/9/00

360

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

120-UT

008.0155

State of Utah

Mineral Lease # 48452

Xxxxx Xxx Xxxxxx

Township 5 North, Range 6 East, S.L.M.

Section 6: Xxxx 0, 0, 0, 0, 0, 0, XXXX,

XXXX, XXXX, XXXX, X0XX

Section 14: NENE, SWNE, SESW, NWSE

Section 16: All

Xxxxxx

Xxxxxx & Summit

Xxxxxx

2/9/00

1280.01

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

121-UT

008.0156

State of Utah

Mineral Lease # 48453

Xxxxx Xxx Xxxxxx

Township 7 North, Range 7 East, S.L.M.

Section 2: X0XX, X0

Section 16: X0, XX, X0XX

Section 36: All

Rich

2/9/00

1600

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

122-UT

008.0157

State of Utah

Mineral Lease # 48454

Xxxxx Xxx Xxxxxx

Township 8 North, Range 7 East, S.L.M.

Section 2: Xxxx 0, 0, 0, X0X0, X0

Section 6: Xxx 0

Xxxxxxx 00: All

Rich

2/9/00

1243.46

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

123-UT

008.0158

State of Utah

Mineral Lease # 48455

Xxxxx Xxx Xxxxxx

Township 8 North, Range 7 East, S.L.M.

Section 16: X0, X0X0

Section 24: All

Section 32: X0, X0X0

Rich

2/9/00

1600

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

124-UT

008.0159

State of Utah

Mineral Lease # 48456

Xxxxx Xxx Xxxxxx

Township 8 North, Range 8 East, S.L.M.

Section 16: Xxxx 0, 0, 0, 0

Xxxxxxx 00: All

Rich

2/9/00

811.62

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

125-UT

008.0160

State of Utah

Mineral Lease # 48457

Xxxxx Xxx Xxxxxx

Township 9 North, Range 7 East, S.L.M.

Section 2: Xxxx 0, 0, 0, 0, 0, XXXX, X0XX

Section 8: SW, S2SE

Section 12: Xxxx 0, 0, X0XX

Section 17: Commencing at the Northwest

corner of Section 17 and running thence

South sixty four and one-half

Rich

2/9/00

2263.81

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

126-UT

008.0161

State of Utah

Mineral Lease # 48458

Xxxxx Xxx Xxxxxx

Township 9 North, Range 8 East, S.L.M.

Section 32: All

Rich

2/9/00

679.04

10 yr 1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

127-UT

008.0162

State of Utah

Mineral Lease # 48459

Xxxxx Xxx Xxxxxx

Township 10 North, Range 7 East, S.L.M.

Section 2: Xxxx 0, 0, 0, 0, 0, 0, 0, X0XX,

XXXX, X0XX, SE

Section 7: SENE

Section 32: All

Section 36: All

Rich

2/9/00

1966.32

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

128-UT

008.0163

State of Utah

Mineral Lease # 48460

Xxxxx Xxx Xxxxxx

Township 10 North, Range 8 East, S.L.M.

Section 16: Xxxx 0, 0, 0, 0, X0X0

Xxxxxxx 00: All

Rich

2/9/00

853.28

10 yr

1/8

eff 3/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

129-UT

Numerous

Skull Valley Company, LTD., a Utah

Xxxxx Xxx Xxxxxx, d/b/a

Tract No. 1

3/3/00

Summit

XxXxxxx

1.5% of 8/8ths

Limited Partnership, a/k/a Skull Valley

Xxxxxx Petroleum

Township 9 North, Range 7 East, S.L.M.

Rich

1325

908

Xxxxxx XX-I

.03125% of 8/8ths

Company, a Utah limited partnership

Section 23: Commencing at the Xxxxxxxxx xxxxxx xx Xxxxxxx 00, X0X, X0X, SLM,running thence North 49 degrees 20 minutes West 1948 feet; thenceNorth 62 degrees 31 minutes West 2642 feet; thence North 26degrees 35 minutes West 3132 feet; thence West 67 feet

Rich

Xxxxxx

M 160

449

814

Xxxxxx XX-II

.03125% of 8/8ths

Section 26: W2

Xxxxxx

.4375% of 8/8ths

Section 27: All

Quantum Energy

0.740028% of 8/8ths

Section 34: X0, X0XX

Quaneco II

2.5% of 8/8ths

79.75997200%

130-UT

Numerous

Xxxxxxxx N.V., a Netherlands

Antilles Corporation

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Tract No. 1

Township 9 North, Range 7 East, S.L.M.

Rich

3/21/00

Rich

XxXxxxx

1.5% of 8/8ths

Section 26: W2

Section 27: All

Section 34: X0, X0XX

Section 35: All

Xxxxxx

M160

428

Xxxxxx XX-I

.03125% of 8/8ths

Section 36: Beginning at the Southwest corner of Section 36; thence North 2 3/4 degrees East 2698 feet; thence South 89 degrees East to the West boundry line of State Highway; thence South 32 degrees East along said West line 3156 feet more or less, to a

Summit

1323

289

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Tract No. 2

Quantum Energy

0.740028% of 8/8ths

Township 8 North, Range 7 East, S.L.M.

Rich

Quaneco II

2.5% of 8/8ths

79.75997200%

131-UT

008.0057

United Park City Mines, a DE corp.

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 2 North, Range 5 East, S.L.M.

Section 3: Xxxx 0, 0, 0, 0, X0X0, X0

Section 4: Xxx 0, XXXX, X0XX

Summit

5/23/00

1331

271

811.27

3 yr, Opt

4 yr

1/8 xxx

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

132-UT

008.0128

Xxxxxx X. Xxxxxx, as Trustee of Trust

U/A with Xxxxxx X. Xxxxxx dated

November 1, 1974

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 8 North, Range 7 East, S.L.M.

Section 13: All

Rich

3/21/00

640

3 yr, Opt

4 yr

15% xxx

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

133-UT

Numerous

Property Reserve, Inc., f/k/a Deseret

Title Holding Corporation

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Tract No. 1

Township 9 North, Range 7 East, S.L.M.

Rich

6/21/00

Rich

261

XxXxxxx

1.5% of 8/8ths

Section 26: W2

Xxxxxx XX-I

.03125% of 8/8ths

Section 27: All

Summit

Xxxxxx XX-II

.03125% of 8/8ths

Section 34: X0, X0XX

0000

257

Xxxxxx

.4375% of 8/8ths

Section 35: All

Quantum Energy

0.740028% of 8/8ths

Section 36: Beginning at the Southwest corner of Section 36; thence North2 3/4 degrees East 2698 feet; thence South 89 degrees East to

the West boundry line of State Highway; thence South 32 degrees East along said West line 3156 feet more or less, to x x

Xxxxxx

M161

720

Quaneco II

2.5% of 8/8ths

79.75997200%

134-UT

008.0004

Property Reserve, Inc., f/k/a Deseret

Title Holding Corporation

Xxxxx Xxx Xxxxxx, d/b/a

Xxxxxx Petroleum

Township 3 North, Range 5 East, S.L.M.

Section 16: All

Summit

6/21/00

1331

265

640

320

3 yr opt 4

1/6th xxx

XxXxxxx

.625% of 8/8ths

Xxxxxx XX-I

.01302% of 8/8ths

Xxxxxx XX-II

.01302% of 8/8ths

Xxxxxx

.182294% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.25997100%

135-UT

008.0146

Utah Bureau of Land Management

UTU-78954

Xxxxx Xxx Xxxxxx

Township 1 North, Range 4 East, S.L.M.

Section 12: E2SW

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 14: Xxxx 0, 0, XX, X0XX

Summit

Xxxxxx XX-I

.03125% of 8/8ths

Section 24: XXXX, XXXX, X0X0, X0XX

Summit

Xxxxxx XX-II

.03125% of 8/8ths

Section 26: All

Summit

Xxxxxx

.4375% of 8/8ths

Section 30: Lots 1, 2, 3, 4, 6, 7, 8, 11, 12,

E2E2, NWNE, NWSE

Xxxxxx & Summit

1959.06

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

136-UT

008.0147

Utah Bureau of Land Management

UTU-78955

Xxxxx Xxx Xxxxxx

Township 2 North, Range 4 East, S.L.M.

Section 4: Xxxx 0, 0, 0, 0, 0, 0, 0, 0, 00, 12,

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

13, 14, 18, 19, 20, XX

Xxxxxx GC-I

.03125% of 8/8ths

Section 8: X0X0, X0

Xxxxxx & Summit

Xxxxxx XX-II

.03125% of 8/8ths

Section 10: Xxxx 0, 0, 0, 0, 0, 0, 0, 00, 12, 13,

15, 16

Summit

1571.63

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

137-UT

008.0139

Utah Bureau of Land Management

UTU-78956

Xxxxx Xxx Xxxxxx

Township 2 North, Range 4 East, S.L.M.

Section 14: N2, SW

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 20: Xxxx 0, 0, 0, 0, 00, 00, 00, 00, 00

Xxxxxx

Xxxxxx GC-I

.03125% of 8/8ths

Xxxxxxx 00: XX, X0XX, XXXX

Summit

Xxxxxx XX-II

.03125% of 8/8ths

Section 26: SESW, NESE, S2SE

Summit

Xxxxxx

.4375% of 8/8ths

Section 30: Xxxx 0, 0, XXXX, X0XX, XXXX,

X0XX, XX

Xxxxxx

1748.72

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

138-UT

008.0140

Utah Bureau of Land Management

UTU-78957

Xxxxx Xxx Xxxxxx

Township 3 North, Range 4 East, S.L.M.

Section 6: Xxxx 0, 0, 0, 0, 0

Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 10: N2NE

Xxxxxx XX-I

.03125% of 8/8ths

Section 12: All

Xxxxxx XX-II

.03125% of 8/8ths

Section 14: N2NE, SENE

1022.73

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

139-UT

008.0141

Utah Bureau of Land Management

UTU-78958

Xxxxx Xxx Xxxxxx

Township 3 North, Range 4 East, S.L.M.

Section 22: Xxxx 0, 0, XX, X0XX

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 26: All

Summit

Xxxxxx XX-I

.03125% of 8/8ths

Section 28: Xxxx 0, 0, 0, 0, XXXX, X0XX,

XXXX

Summit

Xxxxxx XX-II

.03125% of 8/8ths

Section 30: E2SW

Summit & Xxxxxx

Xxxxxx

.4375% of 8/8ths

Section 34: Xxxx 0, 0, 0, X0X0, X0

Summit

1949.71

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

140-UT

008.0142

Utah Bureau of Land Management

UTU-78959

Xxxxx Xxx Xxxxxx

Township 4 North, Range 4 East, S.L.M.

Section 4: Xxxx 0, 0, XXXX, X0XX, XXXX

Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 6: Xxxx 0, 0, 0, X0XX, XXXX,

X0XX, XX

Xxxxxx XX-I

.03125% of 8/8ths

Section 8: Xxx 0, XX, XXXX, XXXX,

XXXX

Xxxxxx XX-II

.03125% of 8/8ths

Section 10: NE, N2NW, S2

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

Xxxxxxx 00: XX, X0XX, XX, X0XX, SESE

2115.65

10 yr, 1/8

141-UT

008.0143

Utah Bureau of Land Management

UTU-78960

Xxxxx Xxx Xxxxxx

Township 4 North, Range 4 East, S.L.M.

Section 14: SESE

Summit & Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 24: X0X0, X0

Summit

Xxxxxx XX-I

.03125% of 8/8ths

Section 26: Xxx 0, XXXX, X0X0, XX, X0XX,

SESW, SESE

Summit

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxxx 00: X0X0, XXXX, XX

Summit

1439.37

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

142-UT

008.0144

Utah Bureau of Land Management

UTU-78961

Xxxxx Xxx Xxxxxx

Township 4 North, Range 4 East, S.L.M.

Section 18: All

Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 28: X0, X0X0

Summit & Xxxxxx

Xxxxxx GC-I

.03125% of 8/8ths

Section 30: Xxxx 0, 0, 0, 0, 0, 0, 0, XXXX,

X0XX, SENW, N2SE

Summit & Xxxxxx

1573.39

10 yr, 1/8

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

143-UT

008.0145

Utah Bureau of Land Management

UTU-78962

Xxxxx Xxx Xxxxxx

Township 1 North, Range 5 East, S.L.M.

Section 6: Xxxx 0, 0, 0, 0, 0, 0, 0, X0XX,

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

XXXX, X0XX

Xxxxxx XX-I

.03125% of 8/8ths

Section 18: Xxxx 0, 0, 0, X0XX, XXXX,

X0X0, SE

1043.36

10 yr, 1/8

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

144-UT

008.0133

Utah Bureau of Land Management

UTU-78963

Xxxxx Xxx Xxxxxx

Township 2 North, Range 5 East, S.L.M.

Section 4: SENW, SWSE

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 14: W2, SE

Xxxxxx XX-I

.03125% of 8/8ths

Section 22: E2NE, N2SE

Xxxxxx XX-II

.03125% of 8/8ths

Section 24: NE, S2

Xxxxxx

.4375% of 8/8ths

Section 26: Xxxx 0, 0, 0, 0, 0, X0X0

Quantum Energy

0.740028% of 8/8ths

Section 30: SE

Quaneco II

2.5% of 8/8ths

82.25997200%

Section 34: S2N2, SE

2035.6

10yr, 1/8

145-UT

008.0134

Utah Bureau of Land Management

UTU-78964

Xxxxx Xxx Xxxxxx

Township 3 North, Range 5 East, S.L.M.

Section 8: X0X0, XXXX, XXXX, XXXX,

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

S2S2, XXXX

Xxxxxx GC-I

.03125% of 8/8ths

Section 10: NENE, S2NE, S2

Xxxxxx XX-II

.03125% of 8/8ths

Section 12: Xxxx 0, 0, 0, 0, XX, X0XX,

XX, XXXX

Xxxxxx

.4375% of 8/8ths

Section 18: Xxxx 0, 0, 0, 0, 0, 0, 0, XXXX,

X0XX, X0XX, SESE

Quantum Energy

0.740028% of 8/8ths

Section 20: S2NE, SENW, S2

2485.12

10 yr, 1/8

Quaneco II

2.5% of 8/8ths

82.25997200%

146-UT

008.0135

Utah Bureau of Land Management

UTU-78965

Xxxxx Xxx Xxxxxx

Township 3 North, Range 5 East, S.L.M.

Section 14: All

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 22: Xxxx 0, 0, 0, 0, 0, 0, X0XX,

XX, X0XX

Xxxxxx XX-I

.03125% of 8/8ths

Section 28: N2N2, SENW

Xxxxxx XX-II

.03125% of 8/8ths

Section 34: All

2044.88

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

147-UT

008.0136

Utah Bureau of Land Management

UTU-78966

Xxxxx Xxx Xxxxxx

Township 4 North, Range 5 East, S.L.M.

Section 4: Xxxx 0, 0, 0, 0, X0X0

Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 6: Xxxx 0, 0, 0, 0, 0, 0, X0XX,

XXXX, XXXX, X0XX

Xxxxxx

Xxxxxx GC-I

.03125% of 8/8ths

Section 8: XXXX, XXXX, X0XX, XXXX,

XX, X0XX

Xxxxxx

Xxxxxx GC-II

.03125% of 8/8ths

Section 10: N2, XX

Xxxxxx & Summit

1638.1

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

148-UT

008.0137

Utah Bureau of Land Management

UTU-78967

Xxxxx Xxx Xxxxxx

Township 4 North, Range 5 East, S.L.M.

Section 12: All

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 14: NE, N2NW, SENW, S2

Xxxxxx XX-I

.03125% of 8/8ths

Section 22: All

Xxxxxx XX-II

.03125% of 8/8ths

Section 26: All

2519.08

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

149-UT

008.0138

Utah Bureau of Land Management

UTU-78968

Xxxxx Xxx Xxxxxx

Township 4 North, Range 5 East, S.L.M.

Section 20: All

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 28: All

Xxxxxx XX-I

.03125% of 8/8ths

Section 30: SENE

Xxxxxx XX-II

.03125% of 8/8ths

Section 34: All

1959.24

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

150-UT

008.0030

Utah Bureau of Land Management

UTU-78969

Xxxxx Xxx Xxxxxx

Township 5 North, Range 5 East, S.L.M.

Section 14: S2NE, W2, XX

Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 22: NENE

Xxxxxx

Xxxxxx GC-I

.03125% of 8/8ths

Section 24: All

Xxxxxx

Xxxxxx GC-II

.03125% of 8/8ths

Section 26: S2NE, NW, NESW, E2SE

Xxxxxx & Summit

Xxxxxx

.4375% of 8/8ths

Section 34: NE, SENW, SESW, SWSE

Xxxxxx & Summit

1699.92

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

151-UT

008.0031

Utah Bureau of Land Management

UTU-78970

Xxxxx Xxx Xxxxxx

Township 3 North, Range 6 East, S.L.M.

Section 4: Xxxx 0, 0, 0, X0XX, XXXX,

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

N2S2, SWSW, SWSE

Xxxxxx XX-I

.03125% of 8/8ths

Section 6: All

Xxxxxx XX-II

.03125% of 8/8ths

Section 8: X0, X0X0

Xxxxxx

.4375% of 8/8ths

Section 10: X0XX, XXXX, XX, X0XX

Quantum Energy

0.740028% of 8/8ths

Section 18: Xxxx 0, 0, X0XX

2082.81

10 yr, 1/8

Quaneco II

2.5% of 8/8ths

82.25997200%

152-UT

008.0006

Utah Bureau of Land Management

UTU-78971

Xxxxx Xxx Xxxxxx

Township 3 North, Range 6 East, S.L.M.

Section 20: NE, S2

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 22: E2

Xxxxxx XX-I

.03125% of 8/8ths

Section 28: All

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxxx 00: X0X0, XXXX, XXXX

Xxxxxx

.4375% of 8/8ths

Section 34: S2SW, SE

1920

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

153-UT

008.0009

Utah Bureau of Land Management

UTU-78972

Xxxxx Xxx Xxxxxx

Township 4 North, Range 6 East, S.L.M.

Section 6: Xxx 0, XXXX, XXXX, X0XX

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 8: XXXX, X0XX, XXXX, XXXX,

X0XX, SE

Xxxxxx XX-I

.03125% of 8/8ths

Section 18: Xxxx 0, 0, 0, 0, X0X0

Xxxxxx XX-II

.03125% of 8/8ths

Section 20: E2E2, SWSE

Xxxxxx

.4375% of 8/8ths

Section 30: Xxxx 0, 0, XXXX, X0XX, XXXX,

X0XX

1297.14

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

82.25997200%

Quaneco II

2.5% of 8/8ths

154-UT

008.0010

Utah Bureau of Land Management

UTU-78973

Xxxxx Xxx Xxxxxx

Township 4 North, Range 6 East, S.L.M.

Section 12: NW, NESW

Summit

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 22: N2, SE

Xxxxxx XX-I

.03125% of 8/8ths

Section 28: X0XX, X0X0, NWSE

Xxxxxx XX-II

.03125% of 8/8ths

Section 34: Xxxx 0, 0, 0, 0, 0, 0, 0, XXXX,

XXXX, X0XX, SESW

1289.65

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

155-UT

008.0011

Utah Bureau of Land Management

UTU-78974

Xxxxx Xxx Xxxxxx

Township 5 North, Range 6 East, S.L.M.

Section 4: All

Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 8: N2NE, SENE, NW, S2S2, XXXX

Xxxxxx GC-I

.03125% of 8/8ths

Section 10: All

1757.6

10 yr, 1/8

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

156-UT

008.0024

Utah Bureau of Land Management

UTU-78975

Xxxxx Xxx Xxxxxx

Township 5 North, Range 6 East, S.L.M.

Section 14: XXXX, XXXX, X0XX, X0XX,

Rich & Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

SWSW

Xxxxxx XX-I

.03125% of 8/8ths

Section 22: All

Rich, Xxxxxx & Summit

Xxxxxx XX-II

.03125% of 8/8ths

Section 26: S2NE, NW, N2SW, SWSW,

NWSE

Rich & Summit

Xxxxxx

.4375% of 8/8ths

Section 34: X0XX, X0

Summit

1720

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

157-UT

008.0033

Utah Bureau of Land Management

UTU-78976

Xxxxx Xxx Xxxxxx

Township 5 North, Range 6 East, S.L.M.

Section 18: All

Xxxxxx

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 20: All

Xxxxxx

Xxxxxx GC-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Section 30: All

Xxxxxx & Summit

1926.72

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

158-UT

008.0012

Utah Bureau of Land Management

UTU-78977

Xxxxx Xxx Xxxxxx

Township 7 North, Range 7 East, S.L.M.

Section 30: All

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Section 34: All

1280.6

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

159-UT

008.0013

Utah Bureau of Land Management

UTU-78978

Xxxxx Xxx Xxxxxx

Township 9 North, Range 7 East, S.L.M.

Section 1: All

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Section 24: All

1297.82

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

160-UT

008.0014

Utah Bureau of Land Management

UTU-78979

Xxxxx Xxx Xxxxxx

Township 7 North, Range 8 East, S.L.M.

Section 6: Xxxx 0, 0, 0, 0, Xxxx. XXX #8

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Section 8: S2SW

294.04

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

161-UT

008.0015

Utah Bureau of Land Management

UTU-78980

Xxxxx Xxx Xxxxxx

Township 8 North, Range 8 East, S.L.M.

Section 4: All

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 6: All

Xxxxxx XX-I

.03125% of 8/8ths

Section 8: All

Xxxxxx XX-II

.03125% of 8/8ths

Section 18: Xxxx 0, 0, 0, 0, X0, X0XX, NESW

2026.04

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

162-UT

008.0016

Utah Bureau of Land Management

UTU-78981

Xxxxx Xxx Xxxxxx

Township 8 North, Range 8 East, S.L.M.

Section 20: All, Excl. ROW #8

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Section 28: All, Excl. ROW #8

Xxxxxx XX-II

.03125% of 8/8ths

Section 30: All

1439.34

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

163-UT

008.0017

Utah Bureau of Land Management

UTU-78982

Xxxxx Xxx Xxxxxx

Township 9 North, Range 8 East, S.L.M.

Section 4: All

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 5: All

Xxxxxx XX-I

.03125% of 8/8ths

Section 6: All

Xxxxxx XX-II

.03125% of 8/8ths

Section 8: N2

1802.94

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

164-UT

008.0018

Utah Bureau of Land Management

UTU-78983

Xxxxx Xxx Xxxxxx

Township 10 North, Range 8 East, S.L.M.

Section 4: All

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 5: All

Xxxxxx XX-I

.03125% of 8/8ths

Section 8: NE, N2NW, SWNW, S2

Xxxxxx XX-II

.03125% of 8/8ths

Section 9: All

1733.65

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

165-UT

008.0019

Utah Bureau of Land Management

UTU-78984

Xxxxx Xxx Xxxxxx

Township 10 North, Range 8 East, S.L.M.

Section 17: All

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 19: All

Xxxxxx XX-I

.03125% of 8/8ths

Section 20: All

Xxxxxx XX-II

.03125% of 8/8ths

Section 30: All

2560

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

166-UT

008.0021

Utah Bureau of Land Management

UTU-78985

Xxxxx Xxx Xxxxxx

Township 10 North, Range 8 East, S.L.M.

Section 21: All

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 28: All

Xxxxxx XX-I

.03125% of 8/8ths

Section 29: All

Xxxxxx XX-II

.03125% of 8/8ths

Section 31: All

Xxxxxx

.4375% of 8/8ths

Section 33: All

1301.79

10 yr, 1/8

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

167-UT

008.0022

Utah Bureau of Land Management

UTU-79019

Xxxxx Xxx Xxxxxx

Township 8 North, Range 7 East, S.L.M.

Section 26: SENE, NESE, S2SE,

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Excl. ROW #8

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Section 28: All

800

10 yr, 1/8

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

168-UT

008.0023

Utah Bureau of Land Management

UTU-79018

Xxxxx Xxx Xxxxxx

Township 8 North, Range 7 East, S.L.M.

Section 8: W2

Rich

8/1/00

XxXxxxx

1.5% of 8/8ths

Section 10: W2W2, SESW, Xxxx. XXX #0,

XXXX, X0XX

Xxxxxx XX-I

.03125% of 8/8ths

Section 14: All, Excl. ROW #8

Xxxxxx XX-II

.03125% of 8/8ths

Section 18: Xxxx 0, 0, 0, 0, X0XX

Xxxxxx

.4375% of 8/8ths

Section 20: NESE, S2SE

Quantum Energy

0.740028% of 8/8ths

Section 22: All

2272.24

10 yr, 1/8

Quaneco II

2.5% of 8/8ths

82.25997200%

169-UT

008.0131

Utah Bureau of Land Management

UTU-74368

Xxx X. Xxxxx

Township 2 North, Range 6 East, S.L.M.

Section 28: NWNE, SENE, NW, N2SW,

Summit

7/1/95

XxXxxxx

1.5% of 8/8ths

SWSW, NESE, SWSE

440

10 yr, 1/8

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Xxx Xxxxx

2.0% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

80.25997200%

170-UT

008.0151

State of Utah

Mineral Lease No. 48488

Xxxxx Xxx Xxxxxx

Township 3 North, Range 8 East, S.L.M.

Section 30: Xxxx 0, 0, XXXX

Xxxxxx

6/14/00

120.1

10 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

171-UT

008.0164

State of Utah

Mineral Lease No. 48491

Xxxxx Xxx Xxxxxx

Township 6 North, Range 6 East, S.L.M.

Section 34: SWNE

Xxxxxx

6/14/00

10 yr, 1/8

XxXxxxx

1.5% of 8/8ths

Xxxxxx XX-I

.03125% of 8/8ths

Xxxxxx XX-II

.03125% of 8/8ths

Xxxxxx

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

175-UT

008.0052

Xxx X. Xxxxxx and Xxxxxx Xxx Xxxxxx

as Trustees in Trust for Xxxxxx Xxx

Xxxxxx and Descendants u/w of

Lawrence E. B. Wright

Billy Jim Palone, d/b/a

Palone Petroleum

Township 2 North, Range 5 East, S.L.M.

Section 4: NWSE, SWNE

Section 12: SESW, S2SE

Section 24: NW

Summit

5/31/00

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Palone GC-II

.03125% of 8/8ths

Section 2: All

Palone

.4375% of 8/8ths

Section 10: NW, NWNE

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

175-A-UT

008.0053

Ray B. Wright, a married man delaing

in his sole and separate property

Billy Jim Palone, d/b/a

Palone Pteroleum

Township 2 North, Range 5 East, S.L.M.

Section 4: NWSE, SWNE

Summit

5/31/00

1331

276

TeSelle

1.5% of 8/8ths

Section 12: SESW, S2SE

Palone GC-I

.03125% of 8/8ths

Section 24: NW

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Quantum Energy

0.740028% of 8/8ths

Section 2: All

Quaneco II

2.5% of 8/8ths

82.25997200%

175-B-UT

008.0054

Blanche T. Wright, a widow

Billy Jim Palone, d/b/a

Palone Pteroleum

Township 2 North, Range 5 East, S.L.M.

Section 4: NWSE, SWNE

Summit

5/31/00

TeSelle

1.5% of 8/8ths

Section 12: SESW, S2SE

Palone GC-I

.03125% of 8/8ths

Section 24: NW

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Quantum Energy

0.740028% of 8/8ths

Section 2: All

Quaneco II

2.5% of 8/8ths

82.25997200%

175-C-UT

008.0055

David L. Wright and Rona R. Wright,

husband and wife

Billy Jim Palone, d/b/a

Palone Pteroleum

Township 2 North, Range 5 East, S.L.M.

Section 4: NWSE, SWNE

Summit

5/31/00

1331

280

TeSelle

1.5% of 8/8ths

Section 12: SESW, S2SE

Palone GC-I

.03125% of 8/8ths

Section 24: NW

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Quantum Energy

0.740028% of 8/8ths

Section 2: All

Quaneco II

2.5% of 8/8ths

82.25997200%

175-D-UT

008.0056

Dennis K. Wright and Sara C. Wright,

husband and wife

Billy Jim Palone, d/b/a

Palone Pteroleum

Township 2 North, Range 5 East, S.L.M.

Section 4: NWSE, SWNE

Summit

5/31/00

1331

272

TeSelle

1.5% of 8/8ths

Section 12: SESW, S2SE

Palone GC-I

.03125% of 8/8ths

Section 24: NW

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Quantum Energy

0.740028% of 8/8ths

Section 2: All

Quaneco II

2.5% of 8/8ths

82.25997200%

178-UT

008.0005

Utah Bureau of Land Management

UTU-79126

Billy Jim Palone

Township 3 North, Range 6 East, S.L.M.

Section 24: E2, E2W2

Summit

10/1/00

480

10 yr, 1/8

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

188-UT

008.0034

Randy Floyd Sessions, a/k/a Randy

F. Sessions, a/k/a Randy Sessions,

and Debora A. Sessions, husband

and wife

Billy Jim Palone, d/b/a

Palone Petroleum

Township 8 North, Range 8 East, S.L.M.

Section 29: S2

Rich

8/14/00

478

320

160

3 yr, opt

ext 4 yr

15% roy

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

188-A-UT

008.0035

Cecil Elwin Sessions, a widower

Billy Jim Palone, d/b/a

Palone Petroleum

Township 8 North, Range 8 East, S.L.M.

Section 29: S2

Rich

8/14/00

476

320

160

3yr, op 4

15% roy

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

189-UT

008.0027

Keith L. Putnam as Trustee of the

Keith L. Putnam Inter vivos Trust dated

June 7, 1994

Billy Jim Palone, d/b/a

Palone Petroleum

Township 9 North, Range 7 East, S.L.M.

Section 23: That part described as follows:

Commencing at the Northeast

corner of said Section 23 and

running thence South 5295 feet

to the Southeast co

Rich

10/3/00

483

408

153

3 yr, opt

ext 4 yr

1/8 roy

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

189-A-UT

008.0028

Erma N. Putnam as Trustee of the

Erma N. Putnam Inter Vivos Trust

dated June 7, 1994

Billy Jim Palone, d/b/a

Palone Petroleum

Township 9 North, Range 7 East, S.L.M.

Section 23: That part described as follows:

Commencing at the Northeast

corner of said Section 23 and

running thence South 5295 feet

to the Southeast co

Rich

10/3/00

481

408

153

3 yr, opt

ext 4 yr

1/8 roy

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

190-UT

Beatrice R. Cato, a widow

Billy Jim Palone, d/b/a

Palone Petroleum

Township 2 North, Range 5 East, S.L.M.

Section 12: NENW, N2SE, NE

Summit

9/20/00

1350

154

TeSelle

1.5% of 8/8ths

Section 26: E2NW, SWNE

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Palone

.4375% of 8/8ths

Section 24: N2NE, SWNE, NENW

Quantum Energy

0.740028% of 8/8ths

Section 26: W2

Quaneco II

2.5% of 8/8ths

79.75997200%

190-A-UT

Patricia C. Hogan, a married woman

dealing in her sole and separate Prop.

Billy Jim Palone, d/b/a

Palone Petroleum

Township 2 North, Range 5 East, S.L.M.

Section 12: NENW, N2SE, NE

Summit

10/20/00

1350

153

TeSelle

1.5% of 8/8ths

Section 26: E2NW, SWNE

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Palone

.4375% of 8/8ths

Section 24: N2NE, SWNE, NENW

Quantum Energy

0.740028% of 8/8ths

Section 26: W2

Quaneco II

2.5% of 8/8ths

79.75997200%

190-B-UT

Robert H. Cato, a single man

Billy Jim Palone, d/b/a

Palone Petroleum

Township 2 North, Range 5 East, S.L.M.

Section 12: NENW, N2SE, NE

Summit

10/20/00

1350

150

TeSelle

1.5% of 8/8ths

Section 26: E2NW, SWNE

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Palone

.4375% of 8/8ths

Section 24: N2NE, SWNE, NENW

Quantum Energy

0.740028% of 8/8ths

Section 26: W2

Quaneco II

2.5% of 8/8ths

79.75997200%

190-C-UT

Lyzenna C. Lockwood, a single woman

Billy Jim Palone, d/b/a

Palone Petroleum

Township 2 North, Range 5 East, S.L.M.

Section 12: NENW, N2SE, NE

Summit

10/20/00

1350

148

TeSelle

1.5% of 8/8ths

Section 26: E2NW, SWNE

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Township 3 North, Range 5 East, S.L.M.

Palone

.4375% of 8/8ths

Section 24: N2NE, SWNE, NENW

Quantum Energy

0.740028% of 8/8ths

Section 26: W2

Quaneco II

2.5% of 8/8ths

79.75997200%

193-UT

008.0171

State of Utah

Mineral Lease No. 48594

Billy Jim Palone, d/b/a

Palone Petroleum

Township 2 North, Range 8 East, S.L.M.

Section 6: Lots 1, 3, 4, SENW, E2SW,

Summit

12/1/2000

10 yr

TeSelle

1.5% of 8/8ths

SENE, E2SE

337.43

1/8 roy

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

208-UT

Utah Bureau of Land Management

UTU-75026

Jay L. Stone

Township 6 North, Range 8 East, S.L.M.

Section 20: NWNW

Rich & Summit

2/01/96

10 yr

1/8 roy

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Have partial - not all pages

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

82.25997200%

209-UT

008.0169

Utah Bureau of Land Management

UTU-75056

M. L. Farrington

Township 4 North, Range 7 East, S.L.M.

Section 6: Lot 4

Summit

10/01/96

10 yr

TeSelle

1.5% of 8/8ths

Section 12: E2NW, NESW

160.08

1/8 roy

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

M.L. Farrington

2.5% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

210-UT

008.0168

Utah Bureau of Land Management

UTU-75057

M. L. Farrington

Township 5 North, Range 7 East, S.L.M.

Section 10: NENE

Summit

10/01/96

10 yr

1/8 roy

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

M.L. Farrington

2.5% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

211-UT

008.0170

Utah Bureau of Land Management

UTU-75059

Jay L. Stone

Township 3 North, Range 7 East, S.L.M.

Section 24: Lots 2, 6, 7, NWNE, NENW,

Summit

04/01/96

10 yr

TeSelle

1.5% of 8/8ths

S2NW.

256.5

1/8 roy

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Jay L. Stone

2.5% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

212-UT

008.0172

State of Utah, Division of Forestry, Fire

and State Lands, Department of Natural

Resources

SLA-709

Jay L. Stone

Township 6 North, Range 8 East, S.L.M.

Tract No 1 - A tract of land for highway known

as Project No 80-4 situated in

Lot 4, of Section 16, T6N, R8E,

Summit

12/13/96

TeSelle

1.5% of 8/8ths

SLM. Said tract of land is all that

Palone GC-I

.03125% of 8/8ths

portion of the following described

Palone GC-II

.03125% of 8/8ths

property which lies within said

Palone

.4375% of 8/8ths

Section 16: Beginning at a point

Jay L. Stone

2.5% of 8/8ths

on the west boundary of the State

Quantum Energy

0.740028% of 8/8ths

of Wyoming, which point is 2196.1

Quaneco II

2.5% of 8/8ths

79.75997200%

213-UT

State of Utah, Division of Forestry, Fire

and State Lands, Department of Natural

Resources

SLA-711

Jay L. Stone

Township 5 North, Range 7 East, SLM

Tract No 1 - That portion of the following

described tract situated in

Section 2 and 11, Township 5

Summit

01/09/97

Jay Stone

2.5% of 8/8ths

North, Range 7 East, SLM:

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

A tract of land for highway known

Palone

.4375% of 8/8ths

as Project 80-4 situated in the

Quantum Energy

0.740028% of 8/8ths

SW1/4NW1/4 and the

Quaneco II

2.5% of 8/8ths

79.75997200%

214-UT

008.0173

State of Utah, School and Institutional

Trust Lands Administration

Mineral Lease # 47545

Jay L. Stone

Township 4 North, Range 8 East, S.L.M.

Section 6: Lot 6, E1/2 SW1/4, N1/2SE1/4

SW1/4SE1/4

Summit

04/16/97

229

10 yr

1/8 roy

Jay L. Stone

2.5% of 8/8ths

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

215-UT

State of Utah, Board of State Lands

& Forestry, and Division of State

Lands & Forestry, Department of

Natural Resources

Mineral Lease # 46288 SITLA NOW

Jay L. Stone

Township 5 North, Range 8 East, S.L.M.

Section 6: NW1/4SE1/4

Summit

02/07/94

10 yr

1/8 roy

Jay L. Stone

2.5% of 8/8ths

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Palone GC-II

.03125% of 8/8ths

Palone

.4375% of 8/8ths

Quantum Energy

0.740028% of 8/8ths

Quaneco II

2.5% of 8/8ths

79.75997200%

216-UT

008.0190

Utah Bureau of Land Management

UTU-79633

Billy Jim Palone

Township 9 North, Range 7 East, S.L.M.

Section 4: Lots 2, 5, 6, 7, 8, 9, 10, 11,12,

Rich

7/01/01

TeSelle

1.5% of 8/8ths

SWNE

Palone GC-I

.03125% of 8/8ths

Section 5: Lots 1, 2, 3, 4, 5, 6, 7, 8,

Palone GC-II

.03125% of 8/8ths

S1/2N1/2, SE

Palone

.4375% of 8/8ths

Section 6: Lots 1, 2, 3, 4, 5, 6, 7, S1/2NE,

Quantum Energy

0.740028% of 8/8ths

E1/2SW, SE, SENW

Quaneco II

2.5% of 8/8ths

79.75997200%

Under here above and beyond 180K

242-UT

Michael R. Ellis and Kathleen A. Ellis,

husband and wife

Billy Jim Palone, d/b/a

Palone Petroleum

Township 9 North, Range 8 East, S.L.M.

Section 18: A parcel of land in the North

Rich

8/23/01

TeSelle

1.5% of 8/8ths

half of Lot 2, more particularly

Palone GC-I

.03125% of 8/8ths

described as follows: Beginning

Palone GC-II

.03125% of 8/8ths

4041.4 feet North from the

Palone

.4375% of 8/8ths

Southwest corner of said Section

Quantum Energy

0.740028% of 8/8ths

18, and running thence North

Quaneco II

2.5% of 8/8ths

79.75997200%

600 feet; thence East 1200 feet;

thence South 7 degrees 10

NO ASSIGNMENT

minutes West 604.7 feet; thence

3yr, opt

1124.5 feet to the place of

4 yr

beginning.

1/8 roy

243-UT

Gertrude P. Ellis, personally and as

Trustee of the Silas H. Ellis Family

Living Trust, dated 12/3/81

Billy Jim Palone, d/b/a

Palone Petroleum

Township 9 North, Range 7 East, S.L.M.

Section 26: NESE

Rich

8/23/01

TeSelle

1.5% of 8/8ths

Township 9 North, Range 8 East, S.L.M.

Palone GC-I

.03125% of 8/8ths

Section 18: Lots 1, 2, 3, 4, NE, W2NW,

Palone GC-II

.03125% of 8/8ths

E2SW, SE, save and except 16

Palone

.4375% of 8/8ths

NO ASSIGNMENT

acres located in the North half of

Quantum Energy

0.740028% of 8/8ths

Lot 2 of said section, particularly

Quaneco II

2.5% of 8/8ths

79.75997200%

described as follows: Beginning

4041.4 feet North from the

Southwest corner of said Section

18, and running thence North

600 feet; thence East 1200 feet;

thence South 7 degrees 10

minutes West 604.7 feet; thence

3yr, opt

1124.5 feet to the place of

4 yr

beginning.

664.24

315.51

1/8 roy

244-UT

The Lawrence R. Brown Inter Vivos

Trust, dated 3/10/93

Billy Jim Palone, d/b/a

Palone Petroleum

Township 8 North, Range 8 East, S.L.M.

Section 5: Lots 1, 2, 3, 4, S2N2, S2

Rich, UT

Uinta, WY

10/29/01

TeSelle

1.5% of 8/8ths

Palone GC-I

.03125% of 8/8ths

Township 9 North, Range 7 East, S.L.M.

Palone GC-II

.03125% of 8/8ths

Section 36: Commencing 2210 feet East of

Palone

.4375% of 8/8ths

NO ASSIGNMENT

Southwest Corner of 36; thence

Quantum Energy

0.740028% of 8/8ths

East 430 feet to SE SW, North

Quaneco II

2.5% of 8/8ths

79.75997200%

40 chains (2640') to NE Corner

of SW; thence West 2240 feet

South 32 degrees East 3156

feet to place of beginning.

Township 9 North, Range 8 East, S.L.M.

Section 31: Lots 1, 2, 3, 4, 5, E2NW, NESW,

Section 33: Lots 1, 2, 3, 4, W2W2

Township 17 North, Range 120 West, 6th PM

Section 7: Lots 1, 2, 3, 4, E2W2, W2E2

less tract: Beginning at a point

1316 feet West from the Northeast

corner of Section 7; thence

South 2094 feet; thence North

14 degrees 40 minutes West

1007.2 feet; thence North 1120

feet to the North line of Section

7; thence South 89 degrees 55

minutes East 255 feet along

Section line to the point of

beginning, containing 9.4 acres;

also a tract in Section 7 described

as follows: Beginning at the NW

corner of Section 7; thence

North 88 degrees 56 minutes

30 seconds East, 1951.34 feet

along the north line of Section 7;

Thence South 01 degrees 03

minutes 30 seconds East,

1053.48 feet; thence 88 degrees

56 minutes 30 seconds West,

1972.11 feet to a point that lies

on the west line of Section 7;

thence North 00 degrees 04

minutes 18 seconds East,

1053.69 feet along west line to

3yr, opt

the point of beginning and

4 yr

containing 47.44 acres.

2013.81

1161.97

1/8 roy

TOTAL NET ACRES

168030.84

This is Schedule “B” attached to a Purchase and Option Agreement for the Overthrust Prospect, Utah and Wyoming between Quaneco, L.L.C. and Fellows Energy, Ltd. dated March 12, 2004.

Royalties

		The descriptions and net and gross acreages shown herein are subject to adjustment and/or correction based on due diligence and/or title examination.

							Acres
Lease #		Lessor	Lessee	Description	County	Date	Gross	Net	Terms
100-UT	008.0032	George E. Collard, Jr.	Billy Jim Palone, d/b/a Palone Petroleum	Township 4 North, Range 6 East, S.L.M. Section 28: S2NW, N2SW Section 34: SENW, NESW, W2SE	Summit	1/17/00	320	320	3 yr, Opt 4 yr, 1/8




101-A-UT	008.0037	Ruth H. O'Connor, f/k/a Ruth H. Jorgensen, and Vern F. Jorgensen as Co-Trustees of the Jorgensen Family Trust, dated 6/21/71	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 6 East, S.L.M. Section 2: Lots 1, 2, 3, 4, S2N2, S2 Section 4: SESW Section 22: E2W2 Section 26: W2NW Township 4 North, Range 6 East, S.L.M. Section 32: Lots 1, 2, 3, 4, S2N2, S2	Summit	1/22/00	1473.86	741.43	3yr, Opt 4 yr, 1/8





101-B-UT	008.0038	Karl G. Timpson and Pam Timpson, husband and wife	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 6 East, S.L.M. Section 2: Lots 1, 2, 3, 4, S2N2, S2 Section 4: SESW Section 22: E2W2 Section 26: W2NW Township 4 North, Range 6 East, S.L.M. Section 32: Lots 1, 2, 3, 4, S2N2, S2	Summit	1/28/00	1473.86	61.04	3 yr, Opt 4 yr, 1/8




101-C-UT	008.0039	Beth M. Wilkins and Leland D. Wilkins, wife and husband	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 6 East, S.L.M. Section 2: Lots 1, 2, 3, 4, S2N2, S2 Section 4: SESW Section 22: E2W2 Section 26: W2NW Township 4 North, Range 6 East, S.L.M. Section 32: Lots 1, 2, 3, 4, S2N2, S2	Summit	1/28/00	1473.86	183.11	3 yr, Opt 4 yr, 1/8





101-D-UT	008.0040	Perry L. Allred and Kaye Allred, husband and wife	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 6 East, S.L.M. Section 2: Lots 1, 2, 3, 4, S2N2, S2 Section 4: SESW Section 22: E2W2 Section 26: W2NW Township 4 North, Range 6 East, S.L.M. Section 32: Lots 1, 2, 3, 4, S2N2, S2	Summit	1/28/00	1473.86	183.11	3 yr, Opt 4 yr, 1/8





101-E-UT	008.0041	Mary Timpson Smith and Morris Smith, wife and husband	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 6 East, S.L.M. Section 2: Lots 1, 2, 3, 4, S2N2, S2 Section 4: SESW Section 22: E2W2 Section 26: W2NW Township 4 North, Range 6 East, S.L.M. Section 32: Lots 1, 2, 3, 4, S2N2, S2	Summit	1/28/00	1473.86	61.04	3 yr, Opt 4 yr, 1/8





101-G-UT	008.0042	Chauncey C. Riddle and Bertha A. Riddle, Trustees of the Chauncey C. Riddle Family Living Trust, dated May 26, 1988	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 6 East, S.L.M. Section 2: Lots 1, 2, 3, 4, S2N2, S2 Section 4: SESW Section 22: E2W2 Section 26: W2NW Township 4 North, Range 6 East, S.L.M. Section 32: Lots 1, 2, 3, 4, S2N2, S2	Summit	1/28/00	1473.86	183.11	3 yr, Opt 4 yr, 1/8






102-UT	008.0007	Edwin L. Judd and Edmeresa O. Judd, husband and wife	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 5 East, S.L.M. Section 16: All Section 22: S2SE Section 28: S2NE, SE, SESW	Summit	2/3/00	1000	560	3 yr, Opt 4 yr, 1/8




103-UT	008.0036	Robert Michael Richins and Wendy Dahl Richins, husband and wife	Billy Jim Palone, d/b/a Palone Petroleum	Township 2 North, Range 5 East, S.L.M. Section 2: Lot 3, SENW, SW Section 11: NWNW	Summit	1/27/00	282.09	282.09	3 yr, Opt 4 yr, 1/8





104-A-UT	008.0045	Thomas V. Boyer, Successor Trustee of the Joseph Lavern Boyer Family Living Trust, dated October 13, 1982	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 5 East, S.L.M. Section 36: All Township 3 North, Range 6 East, S.L.M. Section 16: All Section 25: S2S2 Section 32: All Section 36: N2N2 Township 3 North, Range 7 East, S.L.M. Section 16: Lots 1, 2, and all of lot 3 less and except the following tract: A tract of land beginning at the SE corner of the SW of Section 17, and running thence East 60 chains; thence North 39.5 chains; thence South 56 degrees 39 minutes West 71.85 chains to the point of beginning.	Summit	2/22/00	2330.77	388.46	3 yr, Opt 4 yr, 1/8





105-UT	008.0132	Utah Bureau of Land Management UTU-78765	Billy Jim Palone	Township 1 North, Range 6 East, S.L.M. Section 20: N2, N2SW, SWSW, NESE, S2SE Section 30: Lots 1, 2, 3, 4, NE, E2W2, NESE, S2SE	Summit	3/1/00	1117	1117	10 yr, 1/8





104-B-UT	008.0046	Helen W. Boyer, sole remaining Trustee of the L. E. Boyer and Helen W. Boyer Revocable Trust, dated June 14, 1988	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 5 East, S.L.M. Section 36: All Township 3 North, Range 6 East, S.L.M. Section 16: All Section 25: S2S2 Section 32: All Section 36: N2N2 Township 3 North, Range 7 East, S.L.M. Section 16: Lots 1, 2, and all of lot 3 less and except the following tract: A tract of land beginning at the SE corner of the SW of Section 17, and running thence East 60 chains; thence North 39.5 chains; thence South 56 degrees 39 minutes West 71.85 chains to the point of beginning.	Summit	3/11/00	2330.77	388.46	3 yr, Opt 4 yr, 1/8





104-C-UT	008.0047	Paul W. Nielson, as Trustee of the Woodrow Nielson and Leah B. Nielson Revocable Trust	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 5 East, S.L.M. Section 36: All Township 3 North, Range 6 East, S.L.M. Section 16: All Section 25: S2S2 Section 32: All Section 36: N2N2 Township 3 North, Range 7 East, S.L.M. Section 16: Lots 1, 2, and all of lot 3 less and except the following tract: A tract of land beginning at the SE corner of the SW of Section 17, and running thence East 60 chains; thence North 39.5 chains; thence South 56 degrees 39 minutes West 71.85 chains to the point of beginning.	Summit	3/11/00	2330.77	388.46	3 yr, Opt 4 yr, 1/8





104-D-A-UT	008.0050	William Leo Boyer and Lawrence Irwin Boyer, as Trustees of the William Leo Boyer Trust, dated January 25, 1995	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 5 East, S.L.M. Section 36: All Township 3 North, Range 6 East, S.L.M. Section 16: All Section 25: S2S2 Section 26: S2NE, NESW, NWNE Section 32: All Section 36: N2N2 Township 3 North, Range 7 East, S.L.M. Section 16: Lots 1, 2, and all of lot 3 less and except the following tract: A tract of land beginning at the SE corner of the SW of Section 17, and running thence East 60 chains; thence North 39.5 chains; thence South 56 degrees 39 minutes West 71.85 chains to the point of beginning.	Summit	3/11/00	2490.77	274.23	3 yr, Opt 4 yr, 1/8
	008.0048
104-E-B-UT	008.0051	Kenneth Cordell Boyer, sole remaining Trustee of the Lorene B. Boyer Trust, dated January 25, 1995	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 5 East, S.L.M. Section 36: All Township 3 North, Range 6 East, S.L.M. Section 16: All Section 25: S2S2 Section 26: S2NE, NESW, NWNE Section 32: All Section 36: N2N2 Township 3 North, Range 7 East, S.L.M. Section 16: Lots 1, 2, and all of lot 3 less and except the following tract: A tract of land beginning at the SE corner of the SW of Section 17, and running thence East 60 chains; thence North 39.5 chains; thence South 56 degrees 39 minutes West 71.85 chains to the point of beginning.	Summit	3/11/00	2490.77	274.23	3 yr, Opt 4 yr, 1/8
	008.0049


106-UT	008.0008	Samuel L. Bolinder and Kathleen J. Bolinder, individually and as Trustees of the Samuel L. Bolinder and Kathleen J. Bolinder Revocable Trust	Billy Jim Palone, d/b/a Palone Petroleum	Township 3 North, Range 5 East, S.L.M. Section 16: N2, SW	Summit	2/15/00	480	120	3 yr, Opt 4 yr, 1/8




107-UT	008.0044	Francis Minerals Limited Partnership, a Utah Limited Partnership	Billy Jim Palone, d/b/a Palone Petroleum	Township 9 North, Range 8 East, S.L.M. Section 8: S2 Section 9: Lots 1, 2, 3, 4, W2W2 Section 16: Lots 1, 2, 3, 4, W2W2 Section 17: All Section 20: Beginning at the NE corner of said section 20, thence running West 5286.60 feet to the NW corner of said section 20, thence South 2523.7 feet to a Fence Line, thence South 58 degrees 05 minutes East 3388.4 feet, thence East 2404 feet to the East Line of said section 20, thence North 4314.0 feet to the point of beginning. Section 21: Beginning at a point 966 feet, more or less, North of section corner common to sections 20, 21, 28, 29; thence North 4314 feet, more or less, to the section corner common to sections 16, 17, 20, 21; thence East 1848 feet, more or less, to the Utah-Wyoming State Line; thence South 3951.4 feet, more or less, to Fence Line; thence South 20 degrees 15 minutes West 386.37 feet; thence West 1649.26 feet, more or less, to Section Line and point of beginning.	Rich	3/17/00

				Township 18 North, Range 120 West, 6th PM Resurvey Tract 38 Originally described as: Section 30: Lots 1, 2, E2NW Township 18 North, Ranges 120 and 121 West, 6th PM Resurvey Tract 39 Originally described as: Township 18 North, Range 121 West, 6th PM Section 24: Lots 3, 4, E2SE Townshp 18 North, Range 121 West, 6th PM Section 24: Lots 5, 6	Uinta, WY		2409.77	2409.77	3 yr, 1/8 opt 4yr


108-UT	008.0043	George O. Frazier, a/k/a George Frazier, and Catherine M. Frazier, husband and wife	Billy Jim Palone, d/b/a Palone Petroleum	Township 9 North, Range 7 East, S.L.M. Section 8: NWSE, S2NESE, NWNESE, and the following two tracts: Tract 1: Commencing 40 rods South of the Northeast Corner of the Southeast Quarter of said Section 8, running thence North 100 feet, thence West 660 feet, thence South 100 feet, thence East 660 feet to the place of beginning, containing 1.52 acres, more or less; Tract 2: Commencing 360 feet South of the Northeast Corner of the Southeast Quarter of said Section 8, running thence South 200 feet, thence West 776 feet, thence North 200 feet, thence East 776 feet to the place of beginnig, containing 3.56 acres, more or less; LESS AND EXCEPT the following two tracts: Excepted Tract 1: Commencing 40 rods West of the Northeast Corner of the Southeast Quarter of said Section 8, running thence South 560 feet, thence West 116 feet, thence North 560 feet, thence East 116 feet to the palce of beginning, containing 1.49 acres, more or less;	Rich	3/17/00
				Excepted Tract 2: Commencing 776 feet West of the Northeast Corner of the Southeast Quarter of said Section 8, running thence West 425 feet, thence South 360 feet, thence East 425 feet, thence North 360 feet to the place of beginning, containing 3.51 acres, more or less;
				Section 17: N2N2NENE, W2NE, NW, LESS AND EXCEPT the following tract: Commencing at the Northwest Corner of said Section 17; running thence South 64.5 rods to the center line of the County Road; thence on the center line of said County Road, North 61 degrees 45 minutes East 1,457 feet; thence North 89 degrees 15 minutes East 1,092 feet; thence East 75 feet to a point which is 336 feet South of the Northeast corner of the Northwet Quarter of said Section 17; thence Easterly 160 rods, more or less, to a point 16 rods South from the Northeast corner of said Section 17; thence leaving said road and running North 16 rods to the Northeast corner of said Section 17; thence West 320 rods to the point of beginning. Said excepted tract containing 47.24 acres, more or less.
				Section 18: S2NE, SE, and the following tract: Commencing at the Southeast Corner of the Southwest Quarter of said Section 18, thence West 69 rods, thence North 240 rods, thence East 69 rods, thence South 240 rods, to the point beginning, said tract containing 103.50 acres, more or less; LESS AND EXCEPT the following tract: Beginning at the Northeast Corner of said Section 18, thence South 35 degrees 31 minutes West 2,542 feet; thence South 85 degrees 15 minutes West 100 feet to a true point of beginning; thence North 5 degrees 31 minutes West 100 feet; thence North 77 degrees 28 minutes East 175 feet; thence South 40 degrees 42 minutes East 300 feet; thence South 77 degrees 24 minutes West 175 feet; thence North 40 degrees 18 minutes West 198.5 feet to above said point of beginning, said excepted tract containing 1.2 acres, more or less. Section 25: All

				Township 9 North, Range 8 East, S.L.M. Section 19: Lots 1(40.24), 2(40.08), 3(39.94), 4(39.94), E2W2, E2 Section 20: Commencing at the Southeast Corner of said Section 20, thence West 5,286.60 feet to the Southwest Corner of said Section 20, thence North 2,756.3 feet, thence South 58 degrees 05 minutes East 3,388.4 feet, thence East 2,404 feet, to East line of Section 20, thence South 966 feet to the point of beginning, containing 176.18 acres. Section 21: Commencing at the Southwest Corner of said Section 21, thence North 966 feet, thence East 1,649.26 feet, thence North 20 degrees 15 minutes East 386.37 feet, to the Wyoming State Line, thence South to South Line of Section 21, thence West to point of beginning, containing 40.52 acres.
				Section 28: Lots 1(14.49), 2(14.92), 3(15.35), 4(15.78), W2W2 Section 29: All Section 30: Lots 1(39.72), 2(39.80), 3(39.88), 4(39.96), E2W2, E2			3611.18	3611.18	3 yr, 1/8 opt 4yr



109-UT	008.0129	Utah Bureau of Land Management UTU-78766	Billy Jim Palone	Township 7 North, Range 8 East, S.L.M. Section 4: Lots 1, 2, 3, 4 Section 6: Lots 5, 6, 7, S2NE, SENW, E2SW, SE	Rich	3/1/00	668.53	668.53	10 yr 1/8





110-UT	008.0130	Utah Bureau of Land Management UTU-78767	Billy Jim Palone	Township 2 North, Range 6 East, S.L.M. Section 4: Lots 1, 2, S2NE Section 8: S2NE, NWNW, E2SW, SE Section 18: Lots 1, 2, 3, 4, E2W2, E2	Summit	3/1/00	1160.2	1160.2	10 yr 1/8





111-UT	008.0001	State of Utah Mineral Lease # 48443	Billy Jim Palone	Township 1 North, Range 4 East, S.L.M. Section 8: Lots 1, 2, 3, 4, W2SW, SESW, NWSE, SESE Section 12: Lots 1, 2, W2NE, W2SW Section 18: Lots 1, 2, 4, 5, 6, 7, 8, 10, 11, 12, N2NE, SENE, NESE, SWSE Section 20: N2NE, SENE, NWNW, SENW, N2S2, SESW, SWSE Section 28: NENE, SWNE, NW, N2S2 Section 34: Lot 3, E2NW, NESW, NWSE	Morgan Summit Morgan Morgan & Summit Summit Summit	2/9/00	2143.01	2143.01	10 yr 1/8 eff 3/1/00




112-UT	008.0002	State of Utah Mineral Lease # 48444	Billy Jim Palone	Township 1 North, Range 5 East, S.L.M. Section 12: SENE, NESW	Summit	2/9/00	80	80	10 yr 1/8 eff 3/1/00




113-UT	008.0003	State of Utah Mineral Lease # 48445	Billy Jim Palone	Township 2 North, Range 4 East, S.L.M. Section 6: Lots 3, 4, 5, SESW, SE Section 18: Lots 1, 11 Section 20: Lots 2, 3, 12 Section 22: W2W2, SESE Section 24: Lots 15, 16 Section 26: SENE Section 34: SWNE, SENW, E2SW, W2SE	Morgan Morgan Morgan Summit Summit Summit Morgan & Summit	2/9/00	1023.87	1023.87	10 yr 1/8 eff 3/1/00




114-UT	008.0148	State of Utah Mineral Lease # 48446	Billy Jim Palone	Township 2 North, Range 5 East, S.L.M. Section 16: NWSE Section 18: E2NE, NESE Section 30: Lot 2	Summit	2/9/00	199.24	199.24	10 yr 1/8 eff 3/1/00





115-UT	008.0149	State of Utah Mineral Lease # 48447	Billy Jim Palone	Township 2 North, Range 6 East, S.L.M. Section 16: NWNW, NESW, SWSW	Summit	2/9/00	120	120	10 yr 1/8 eff 3/1/00





116-UT	008.0150	State of Utah Mineral Lease # 48448	Billy Jim Palone	Township 3 North, Range 5 East, S.L.M. Section 4: Lots 2, 4, SWSE, S2NW, SW, N2SE, SWSE Section 6: Lots 1, 3, 5, 7, S2NE, SENW, E2SW, SE Section 8: SWNE, SENW, NESW, NWSE Section 24: SENE, SE Section 30: SWNE, SENW, excepting therefrom the following: Beginning at the SW corner of SENW of said Section 30, running thence North 0 degrees 32 minutes East 1178.4 feet along West line of said SENW, thence South 58 degrees 46 minutes East 1193.8 feet, thence South 75 degrees 23 minutes East 591.6 feet, thence South 66 degrees 32 minutes East 935.6 feet, thence South 39 degrees 19 minutes East 54.8 feet to South line of Northeast Quarter of said Section 30, thence North 89 degrees 54 minutes West 2497.0 feet to the point of beginning.	Summit	2/9/00	1367.42	1367.42	10 yr 1/8 eff 3/1/00





117-UT	008.0152	State of Utah Mineral Lease # 48449	Billy Jim Palone	Township 3 North, Range 6 East, S.L.M. Section 4: Lot 3, SENW, SESE Section 10: SENE, NW, W2SE Section 14: NWNE Section 30: W2NE, NESW, NWSE	Summit	2/9/00	599.09	599.09	10 yr 1/8 eff 3/1/00





118-UT	008.0153	State of Utah Mineral Lease # 48450	Billy Jim Palone	Township 4 North, Range 5 East, S.L.M. Section 30: Lots 1, 2, 3, 4, N2NE, SWNE, E2W2, SE	Summit	2/9/00	539.44	539.44	10 yr 1/8 eff 3/1/00






119-UT	008.0154	State of Utah Mineral Lease # 48451	Billy Jim Palone	Township 4 North, Range 6 East, S.L.M. Section 22: SW Section 28: NE, NESE	Summit	2/9/00	360	360	10 yr 1/8 eff 3/1/00






120-UT	008.0155	State of Utah Mineral Lease # 48452	Billy Jim Palone	Township 5 North, Range 6 East, S.L.M. Section 6: Lots 1, 2, 3, 4, 6, 7, SENE, SENW, SESW, NESE, S2SE Section 14: NENE, SWNE, SESW, NWSE Section 16: All	Morgan Morgan & Summit Morgan	2/9/00	1280.01	1280.01	10 yr 1/8 eff 3/1/00






121-UT	008.0156	State of Utah Mineral Lease # 48453	Billy Jim Palone	Township 7 North, Range 7 East, S.L.M. Section 2: S2NE, S2 Section 16: N2, SW, E2SE Section 36: All	Rich	2/9/00	1600	1600	10 yr 1/8 eff 3/1/00






122-UT	008.0157	State of Utah Mineral Lease # 48454	Billy Jim Palone	Township 8 North, Range 7 East, S.L.M. Section 2: Lots 1, 2, 3, S2N2, S2 Section 6: Lot 5 Section 12: All	Rich	2/9/00	1243.46	1243.46	10 yr 1/8 eff 3/1/00






123-UT	008.0158	State of Utah Mineral Lease # 48455	Billy Jim Palone	Township 8 North, Range 7 East, S.L.M. Section 16: E2, E2W2 Section 24: All Section 32: E2, E2W2	Rich	2/9/00	1600	1600	10 yr 1/8 eff 3/1/00






124-UT	008.0159	State of Utah Mineral Lease # 48456	Billy Jim Palone	Township 8 North, Range 8 East, S.L.M. Section 16: Lots 1, 2, 3, 4 Section 32: All	Rich	2/9/00	811.62	811.62	10 yr 1/8 eff 3/1/00





125-UT	008.0160	State of Utah Mineral Lease # 48457	Billy Jim Palone	Township 9 North, Range 7 East, S.L.M. Section 2: Lots 3, 4, 5, 6, 7, SENE, E2SE Section 8: SW, S2SE Section 12: Lots 1, 2, N2NE Section 17: Commencing at the Northwest corner of Section 17 and running thence South sixty four and one-half (64 1/2) rods to the center line of the County Road; thence on the center line of said County Road, North 61 degrees 15 minutes East 1457 feet; thence North 89 degrees 15 minutes East 1092 feet; thence East 75 feet to a point which is 336 feet south of the Northeast corner of the Northwest quarter of said Section 17; thence Easterly 160 rods, more or less to a point 16 rods South from the Northeast corner of said Section 17; thence leaving said road running North 16 rods to the Northeast corner of said Section 17; thence West 320 rods, to the point of beginning. Section 26: NE, NWSE, S2SE Section 32: W2, S2SE Section 33: N2 Section 36: N2, SE	Rich	2/9/00	2263.81	2263.81	10 yr 1/8 eff 3/1/00





126-UT	008.0161	State of Utah Mineral Lease # 48458	Billy Jim Palone	Township 9 North, Range 8 East, S.L.M. Section 32: All	Rich	2/9/00	679.04	679.04	10 yr 1/8 eff 3/1/00






127-UT	008.0162	State of Utah Mineral Lease # 48459	Billy Jim Palone	Township 10 North, Range 7 East, S.L.M. Section 2: Lots 1, 2, 3, 4, 5, 6, 7, S2NE, SENW, E2SW, SE Section 7: SENE Section 32: All Section 36: All	Rich	2/9/00	1966.32	1966.32	10 yr 1/8 eff 3/1/00






128-UT	008.0163	State of Utah Mineral Lease # 48460	Billy Jim Palone	Township 10 North, Range 8 East, S.L.M. Section 16: Lots 1, 2, 3, 4, W2W2 Section 32: All	Rich	2/9/00	853.28	853.28	10 yr 1/8 eff 3/1/00






129-UT	Numerous	Skull Valley Company, LTD., a Utah	Billy Jim Palone, d/b/a	Tract No. 1		3/3/00
		Limited Partnership, a/k/a Skull Valley	Palone Petroleum	Township 9 North, Range 7 East, S.L.M.	Rich
		Company, a Utah limited partnership		Section 23: Commencing at the Southeast corner of Section 23, T9N, R7E, SLM,running thence North 49 degrees 20 minutes West 1948 feet; thenceNorth 62 degrees 31 minutes West 2642 feet; thence North 26degrees 35 minutes West 3132 feet; thence West 67 feet to theNorthwest corner of said section 23; thence South 5280 feet to theSouthwest corner of said section 23; thence East 5293 feet to theSoutheast corner of said section 23, being the place of beginningcontaining 232 acres and 115 square rods of land, more or less
				Section 26: W2
				Section 27: All
				Section 34: E2, E2NW
				Section 35: All
				Section 36: Beginning at the Southwest corner of Section 36; thence North2 3/4 degrees East 2698 feet; thence South 89 degrees East to the West boundry line of State Highway; thence South 32degrees East along said West line 3156 feet more or less, to a point East of beginning; thence West 2210 feet, more or less,to the point of beginning.

				Tract No. 2
				Township 8 North, Range 7 East, S.L.M	Rich
				Section 1: All that portion of Section 1 lying South and West of the Highway.Said highway is described as follows: A parcel of land 100 feetwide, 50 feet on each side of the following described centerline: Beginning at a point approximately 2244 feet East from the Northwest corner of said section; thence South 32 degrees 14minutes East 1921.6 feet; thence 297.9 feet along the arc of acirlce to the left whose radius is 1432.7 feet long; thence South 44 degrees 09 minutes East 2370.5 feet to the East line of said section.
				Section 1: All that part lying North and East of Hwy #89
				Section 2: Lot 4
				Section 3: Lots 1(28.00), 2(28.00), 3(28.00), 4(28.00), S2N2, S2
				Section 10: NE, E2NW, NESW, NWSE
				Section 11: All
				Section 13: All

				Tract No. 3
				Township 8 North, Range 7 East, S.L.M	Rich
				Section 15: All
				Section 21: All
				Section 23: All
				Section 25: All

				Tract No. 4
				Township 8 North, Range 7 East, S.L.M	Rich
				Section 27: All
				Section 33: All
				Section 35: All
				Section 36: All

				Tract No. 5
				Township 8 North, Range 8 East, S.L.M.	Rich
				Section 7: Lots 1(40.95), 2(40.45), 3(39.95), 4(39.45), E2W2, E2
				Section 9: Lots 1(45.48), 2(45.23), 3(44.98), 4(44.73)
				Section 17: All
				Section 19: Lots 1(40.73), 2(40.77), 3(40.84), 4(40.89), E2W2, E2
				Section 21: Lots 1(40.75), 2(39.85), 3(38.95), 4(38.05)
				Section 29: N2

				Tract No. 6
				Township 8 North, Range 8 East, S.L.M.	Rich
				Section 31: Lots 1(39.86), 2(39.90), 3(39.94), 4(39.98), E2W2, E2
				Section 33: Lots 1(40.91), 2(40.08), 3(39.35), 4(38.42)

				Township 7 North, Range 7 East, S.L.M.
				Section 1: Lots 1(40.22), 2(40.68), 3(41.12), 4(41.58), S2N2, S2
				Section 2: Lots 1(41.81), 2(41.84), 3(41.86), 4(41.89), S2NW
				Section 3: Lots 1(41.77), 2(41.58), 3(41.33), 4(41.11), S2N2, S2

				Tract No. 7
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 5: Lots 1(40.59), 2(40.76), 3(40.94), 4(41.11), S2N2, S2
				Section 9: All
				Section 11: All
				Section 12: W2
				Section 13: All

				Tract No. 8
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 15: All
				Section 16: W2SE
				Section 17: All
				Section 19: Lots 1(41.10), 2(41.10), 3(41.10), 4(40.44), E2W2, E2
				Section 21: All

				Tract No. 9
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 23: All
				Section 25: All
				Section 26: W2W2
				Section 27: All
				Section 29: All

				Tract No. 10
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 31: Lots 1(39.82), 2(39.88), 3(39.92), 4(39.98), E2W2, E2
				Section 32: All
				Section 33: All
				Section 35: All

				Tract No. 11
				Township 7 North, Range 8 East, S.L.M.	Rich
				Section 5: Lots 1(66.80), 2(66.80), 3(66.80), 4(66.80), S2N2, S2
				Section 7: Lots 1(43.03), 2(42.45), 3(41.87), 4(41.29), E2W2, E2
				Section 9: Lots 1(40.34), 2(40.34), 3(40.34), 4(40.34)
				Section 17: All

				Tract No. 12
				Township 7 North, Range 8 East, S.L.M.	Rich
				Section 19: Lots 1(39.23), 2(38.88), 3(38.53), 4(38.18), E2W2, E2
				Section 21: Lots 1(40.34), 2(40.34), 3(40.34), 4(40.34)
				Section 29: All
				Section 31: Lots 1(38.95), 2(39.25), 3(39.55), 4(39.85), E2W2, E2
				Section 33: Lots 1(39.87), 2(39.93), 3(37.97), 4(37.06)

				Tract No. 13
				Township 6 North, Range 6 East, S.L.M.
				Section 2: Lots 1(39.46), 2(39.59), 3(39.71), 4(39.84), S2N2, S2	Rich
				Section 12: All	Rich
				Section 14: All	Rich
				Section 22: All	Rich & Morgan

				Tract No. 14
				Township 6 North, Range 6 East, S.L.M.
				Section 24: All	Rich
				Section 26: All	Rich & Morgan
				Section 28: N2SE	Morgan
				Section 32: All	Morgan
				Section 34: N2NE, SENE, W2, SE	Morgan

				Tract No. 15
				Township 6 North, Range 7 East, S.L.M.	Rich
				Section 2: Lots 1(22.77), 2(22.32), 3(21.87), 4(21.42), S2N2, S2
				Section 4: Lots 1(21.78), 2(26.54), 3(31.40), 4(36.06), S2N2, S2
				Section 6: Lots 1(40.87), 2(40.62), 3(40.37), 4(43.35), 5(43.06), 6(42.90), 7(42.73), S2NE, SENW, E2SW, SE
				Section 8: All

				Tract No. 16
				Township 6 North, Range 7 East, S.L.M.	Rich
				Section 10: All
				Section 12: All
				Section 13: All
				Section 14: All

				Tract No. 17
				Township 6 North, Range 7 East, S.L.M.	Rich
				Section 16: All
				Section 18: Lots 1(40.11), 2(40.14), 3(40.16), 4(40.19), E2W2, E2
				Section 20: All
				Section 22: All

				Tract No. 18
				Township 6 North, Range 7 East, S.L.M.
				Section 24: All	Rich
				Section 25: All of that portion of Section 25 lying North and West of theUnion Pacific Railroad Company Right-of-way.	Rich & Summit
				Section 26: All	Rich
				Section 28: All	Rich

				Tract No. 19
				Township 6 North, Range 6 East, S.L.M.
				Section 36: All	Morgan & Rich

				Township 6 North, Range 7 East, S.L.M.
				Section 30: Lots 1(39.98), 2(40.10), 3(40.22), 4(40.34), E2W2, E2	Rich
				Section 32: All	Rich
				Section 34: All	Rich

				Tract No. 20
				Township 6 North, Range 8 East, S.L.M.	Rich
				Section 4: Lots 1(30.73), 2(21.10), 3(21.10), 4(21.10), 5(24.67), 6(30.81), 7(36.94)
				Section 6: Lots 1(29.00), 2(29.00), 3(29.00), 4(29.00), 5(40.00), 6(40.00), 7(40.00), S2NE, SENW, E2SW, SE
				Section 7: Lots 1(40.17), 2(40.52), 3(40.87), 4(41.22), E2W2, E2
				Section 8: All
				Section 9: Lots 1(21.09), 2(21.06), 3(21.03), 4(21.01), W2W2

				Tract No. 21
				Township 6 North, Range 7 East, S.L.M.
				Section 36: All of that portion of Section 36 lying North and West of theUnion Pacific Railroad Company Right-of-way.	Rich & Summit

				Township 6 North, Range 8 East, S.L.M.
				Section 16: All of that portion of Section 16 lying North of the Union PacificRailroad Company right-of-way.	Rich & Summit
				Section 17: All of that portion of Section 17 lying North and West of theUnion Pacific Railroad Company right-of-way.	Rich & Summit
				Section 18: Lots 1(41.45), 2(41.55), 3(41.65), 4(41.75), E2W2, E2	Rich
				Section 19: All of that portion of Section 19 lying North and West of theUnion Pacific Railroad Company right-of-way.	Rich & Summit
				Section 30: Lot 1(41.05) and that part of Lot 2 lying North and West of theUnion Pacific Railroad Company right-of-way.	Rich & Summit

				Tract No. 22
				Township 5 North, Range 6 East, S.L.M.
				Section 12: All	Rich
				Section 14: S2SE, NESE, SENE	Rich & Morgan
				Section 24: All	Rich
				Section 26: E2SE, SWSE, SESW, N2NE	Rich & Summit
				Section 28: E2, NW, N2SW, SWSW	Morgan & Summit
				Section 34: N2NE, NW	Summit

				Tract No. 23
				Township 5 North, Range 7 East, S.L.M.
				Section 2: All that part lying North and West of the West Bound UnionPacific Railroad Company right of way	Rich & Summit
				Section 4: Lots 1(41.24), 2(41.34), 3(41.42), 4(41.52), S2N2, S2	Rich
				Section 6: Lots 1(41.36), 2(40.98), 3(40.58), 4(40.40), 5(40.40), 6(40.32), 7(40.24), S2NE, SENW, E2SW, SE	Rich
				Section 8: All	Rich

				Tract No. 24
				Township 5 North, Range 7 East, S.L.M.
				Section 10: W2NE, NW, N2SW	Rich & Summit
				Section 16: All that part of Section 16 lying North and West of theUnion Pacific Railroad right-of-way.	Rich & Summit
				Section 18: Lots 1(39.97), 2(39.93), 3(39.88), 4(39.82), E2W2, E2	Rich
				Section 20: All	Rich & Summit
				Section 28: All of the NW and NWSW lying North and West fo the Eastbound UPRR right-of-way, being those parts of said NW and NWSW not conveyed to David Moore and Sons, Incorporated, as described in that certain Quit Claim Deed dated November 12, 1927, recorded on December 6, 1927, in Book E, page 585, records of Summit County, Utah	Summit

				Tract No. 25
				Township 5 North, Range 7 East, S.L.M.
				Section 30: Lots 1(39.71), 2(39.94), 3(40.16), 4(40.39), E2W2, E2	Rich & Summit
				Section 32: All those parts conveyed in that certain Warranty Deed dated May29, 1941, recorded on September 8, 1941, in Book R, page 427,records of Summit County, Utah, from David Moore & Sons,Incorporated, etal, Grantors, to Deseret Live Stock Company, Grantee	Summit

				Township 4 North, Range 5 East, S.L.M.
				Section 24: Lots 1(38.86), 2(39.09), 3(39.33), 4(39.56), W2E2, E2SW	Rich
				Section 36: All that part of Section 36 lying North and West of theUnion Pacific Railroad right-of-way.	Rich

				Township 4 North, Range 6 East, S.L.M.
				Section 18: E2	Rich
				Section 30: Lots 1(9.10), 2(9.18), NWNE, NENW, and that part of the SE lying North and West of the UPRC right-of-way	Rich

				Township 4 North, Range 7 East, S.L.M.
				Section 6: All those portions of Lots 3 and 5 lying North and West of theUnion Pacific Railroad Company right-of-way.	Rich

				Tract No. 26
				Township 5 North, Range 6 East, S.L.M.	Summit
				Section 32: All
				Section 36: All

				Township 4 North, Range 6 East, S.L.M.
				Section 2: Lots 1(41.73), 2(41.75), 3(41.77), 4(41.79), S2N2, S2
				Section 4: Lots 1(43.42), 2(43.46), 3(43.50), 4(43.54), S2N2, S2

				Tract No. 27
				Township 4 North, Range 6 East, S.L.M.	Summit
				Section 6: Lots 2(34.10), 3(28.70), 4(7.75), 5(11.62), 6(10.89), 7(10.16), SWNE, SENW, E2SW, NWSE
				Section 8: NWNE, N2NW, SWNW, NWSW
				Section 10: All
				Section 14: All that part of Section 14 lying North and West of State Highway.					3 yr opt
				Section 16: All					ext 4 yr
				Section 20: W2NE, W2, NWSE			66677.58	53561.51	15% roy

130-UT	Numerous	Kavanagh N.V., a Netherlands Antilles Corporation	Billy Jim Palone, d/b/a Palone Petroleum	Tract No. 1 Township 9 North, Range 7 East, S.L.M.	Rich	3/21/00
				Section 26: W2 Section 27: All Section 34: E2, E2NW Section 35: All
				Section 36: Beginning at the Southwest corner of Section 36; thence North 2 3/4 degrees East 2698 feet; thence South 89 degrees East to the West boundry line of State Highway; thence South 32 degrees East along said West line 3156 feet more or less, to a point East of beginning; thence West 2210 feet, more or less, to the point of beginning.

				Tract No. 2
				Township 8 North, Range 7 East, S.L.M.	Rich
				Section 1: All that portion of Section 1 lying South and West of the Highway. Said highway is described as follows: A parcel of land 100 feet wide, 50 feet on each side of the following described centerline: Beginning at a point approximately 2244 feet East from the Northwest corner of said section; thence South 32 degrees 14 minutes East 1921.6 feet; thence 297.9 feet along the arc of a cirlce to the left whose radius is 1432.7 feet long; thence South 44 degrees 09 minutes East 2370.5 feet to the East line of said section.
				Section 2: Lot 4 Section 3: Lots 1(28.00), 2(28.00), 3(28.00), 4(28.00), S2N2, S2 Section 10: NE, E2NW, NESW, NWSE Section 11: All

				Tract No. 3
				Township 8 North, Range 7 East, S.L.M.	Rich
				Section 15: All Section 21: All Section 23: All Section 25: All

				Tract No. 4
				Township 8 North, Range 7 East, S.L.M.	Rich
				Section 27: All Section 33: All Section 35: All Section 36: All

				Tract No. 5
				Township 8 North, Range 8 East, S.L.M.	Rich
				Section 31: Lots 1(39.86), 2(39.90), 3(39.94), 4(39.98), E2W2, E2

				Township 7 North, Range 7 East, S.L.M.
				Section 1: Lots 1(40.22), 2(40.68), 3(41.12), 4(41.58), S2N2, S2 Section 2: Lots 1(41.81), 2(41.84), 3(41.86), 4(41.89), S2NW Section 3: Lots 1(41.77), 2(41.58), 3(41.33), 4(41.11), S2N2, S2

				Tract No. 6
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 5: Lots 1(40.59), 2(40.76), 3(40.94), 4(41.11), S2N2, S2 Section 9: All Section 11: All Section 12: W2 Section 13: All

				Tract No. 7
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 15: All
				Section 16: W2SE
				Section 17: All
				Section 19: Lots 1(41.10), 2(41.10), 3(41.10), 4(40.44), E2W2, E2
				Section 21: All

				Tract No. 8
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 23: All
				Section 25: All
				Section 26: W2W2
				Section 27: All
				Section 29: All

				Tract No. 9
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 31: Lots 1(39.82), 2(39.88), 3(39.92), 4(39.98), E2W2, E2
				Section 32: All
				Section 33: All
				Section 35: All

				Tract No. 10
				Township 7 North, Range 8 East, S.L.M.	Rich
				Section 7: Lots 1(43.03), 2(42.45), 3(41.87), 4(41.29), E2W2, E2
				Section 9: Lots 1(40.34), 2(40.34), 3(40.34), 4(40.34)
				Section 17: All
				Section 19: Lots 1(39.23), 2(38.88), 3(38.53), 4(38.18), E2W2, E2

				Tract No. 11
				Township 7 North, Range 8 East, S.L.M.	Rich
				Section 21: Lots 1(40.34), 2(40.34), 3(40.34), 4(40.34)
				Section 29: All
				Section 31: Lots 1(38.95), 2(39.25), 3(39.55), 4(39.85), E2W2, E2
				Section 33: Lots 1(39.87), 2(39.93), 3(37.97), 4(37.06)

				Tract No. 12
				Township 6 North, Range 6 East, S.L.M.
				Section 2: Lots 1(39.46), 2(39.59), 3(39.71), 4(39.84), S2N2, S2	Rich
				Section 12: All	Rich
				Section 14: All	Rich
				Section 22: All	Rich & Morgan

				Tract No. 13
				Township 6 North, Range 6 East, S.L.M.
				Section 24: All	Rich
				Section 26: All	Rich & Morgan
				Section 28: N2SE	Morgan
				Section 32: All	Morgan
				Section 34: N2NE, SENE, W2, SE	Morgan

				Tract No. 14
				Township 6 North, Range 7 East, S.L.M.	Rich
				Section 2: Lots 1(22.77), 2(22.32), 3(21.87), 4(21.42), S2N2, S2
				Section 4: Lots 1(21.78), 2(26.54), 3(31.40), 4(36.06), S2N2, S2
				Section 6: Lots 1(40.87), 2(40.62), 3(40.37), 4(43.35), 5(43.06), 6(42.90), 7(42.73), S2NE, SENW, E2SW, SE
				Section 8: All

				Tract No. 15
				Township 6 North, Range 7 East, S.L.M.	Rich
				Section 10: All
				Section 12: All
				Section 13: All
				Section 14: All

				Tract No. 16
				Township 6 North, Range 7 East, S.L.M.	Rich
				Section 16: All
				Section 18: Lots 1(40.11), 2(40.14), 3(40.16), 4(40.19), E2W2, E2
				Section 20: All
				Section 22: All

				Tract No. 17
				Township 6 North, Range 7 East, S.L.M.
				Section 24: All	Rich
				Section 25: All of that portion of Section 25 lying North and West of the Union Pacific Railroad Company Right-of-way.	Rich & Summit
				Section 26: All	Rich
				Section 28: All	Rich

				Tract No. 18
				Township 6 North, Range 6 East, S.L.M.
				Section 36: All	Morgan

				Township 6 North, Range 7 East, S.L.M.
				Section 30: Lots 1(39.98), 2(40.10), 3(40.22), 4(40.34), E2W2, E2	Rich & Morgan
				Section 32: All	Rich
				Section 34: All	Rich

				Tract 19
				Township 6 North, Range 8 East, S.L.M.	Rich
				Section 4: Lots 1(30.73), 2(21.10), 3(21.10), 4(21.10), 5(24.67), 6(30.81), 7(36.94)
				Section 6: Lots 1(29.00), 2(29.00), 3(29.00), 4(29.00), 5(40.00), 6(40.00), 7(40.00), S2NE, SENW, E2SW, SE
				Section 7: Lots 1(40.17), 2(40.52), 3(40.87), 4(41.22), E2W2, E2
				Section 8: All
				Section 9: Lots 1(21.09), 2(21.06), 3(21.03), 4(21.01), W2W2

				Tract 20
				Township 6 North, Range 7 East, S.L.M.
				Section 36: All of that portion of Section 36 lying North and West of the Union Pacific Railroad Company Right-of-way.	Rich & Summit

				Township 6 North, Range 8 East, S.L.M.
				Section 16: All of that portion of Section 16 lying North of the Union Pacific Railroad Company right-of-way.	Rich & Summit
				Section 17: All of that portion of Section 17 lying North and West of the Union Pacific Railroad Company right-of-way.	Rich & Summit
				Section 18: Lots 1(41.45), 2(41.55), 3(41.65), 4(41.75), E2W2, E2	Rich & Summit
				Section 19: All of that portion of Section 19 lying North and West of the Union Pacific Railroad Company right-of-way.	Rich & Summit
				Section 30: Lot 1(41.05) and that part of Lot 2 lying North and West of the Union Pacific Railroad Company right-of-way.	Rich & Summit

				Tract 21
				Township 5 North, Range 6 East, S.L.M.
				Section 12: All	Rich

				Township 5 North, Range 7 East, S.L.M.
				Section 2: All that part lying North and West of the West Bound Union Pacific Railroad Company right of way	Rich & Summit
				Section 4: Lots 1(41.24), 2(41.34), 3(41.42), 4(41.52), S2N2, S2	Rich
				Section 6: Lots 1(41.36), 2(40.98), 3(40.58), 4(40.40), 5(40.40), 6(40.32), 7(40.24), S2NE, SENW, E2SW, SE	Rich
				Section 8: All	Rich
				Section 10: N2NW	Rich & Summit				3 yr, Opt
				Section 18: Lots 1(39.97), 2(39.93), 3(39.88), N2NE, SWNE, E2NW, NESW	Rich		51815.3	6476.91	4 yr. 15% roy

131-UT	008.0057	United Park City Mines, a DE corp.	Billy Jim Palone, d/b/a Palone Petroleum	Township 2 North, Range 5 East, S.L.M. Section 3: Lots 1, 2, 3, 4, S2N2, S2 Section 4: Lot 1, SENE, E2SE	Summit	5/23/00	811.27	811.27	3 yr, Opt 4 yr 1/8 roy





132-UT	008.0128	Joseph S. Lesser, as Trustee of Trust U/A with Joseph E. Hotung dated November 1, 1974	Billy Jim Palone, d/b/a Palone Petroleum	Township 8 North, Range 7 East, S.L.M. Section 13: All	Rich	3/21/00	640	80	3 yr, Opt 4 yr 15% roy




133-UT	Numerous	Property Reserve, Inc., f/k/a Deseret Title Holding Corporation	Billy Jim Palone, d/b/a Palone Petroleum	Tract No. 1 Township 9 North, Range 7 East, S.L.M.	Rich	6/21/00
				Section 26: W2
				Section 27: All
				Section 34: E2, E2NW
				Section 35: All
				Section 36: Beginning at the Southwest corner of Section 36; thence North2 3/4 degrees East 2698 feet; thence South 89 degrees East to the West boundry line of State Highway; thence South 32 degrees East along said West line 3156 feet more or less, to a point East of beginning; thence West 2210 feet, more or less, to the point of beginning.

				Tract No. 2
				Township 8 North, Range 7 East, S.L.M	Rich
				Section 1: All that portion of Section 1 lying South and West of the Highway. Said highway is described as follows: A parcel of land 100 feet wide, 50 feet on each side of the following described centerline: Beginning at a point approximately 2244 feet East from the Northwest corner of said section; thence South 32 degrees 14 minutes East 1921.6 feet; thence 297.9 feet along the arc of a cirlce to the left whose radius is 1432.7 feet long; thence South 44 degrees 09 minutes East 2370.5 feet to the East line of said section.
				Section 2: Lot 4
				Section 3: Lots 1(28.00), 2(28.00), 3(28.00), 4(28.00), S2N2, S2
				Section 10: NE, E2NW, NESW, NWSE
				Section 11: All
				Section 13: All

				Tract No. 3
				Township 8 North, Range 7 East, S.L.M	Rich
				Section 15: All
				Section 21: All
				Section 23: All
				Section 25: All

				Tract No. 4
				Township 8 North, Range 7 East, S.L.M	Rich
				Section 27: All
				Section 33: All
				Section 35: All
				Section 36: All

				Tract No. 5
				Township 8 North, Range 8 East, S.L.M.	Rich
				Section 31: Lots 1(39.86), 2(39.90), 3(39.94), 4(39.98), E2W2, E2

				Township 7 North, Range 7 East, S.L.M.
				Section 1: Lots 1(40.22), 2(40.68), 3(41.12), 4(41.58), S2N2, S2
				Section 2: Lots 1(41.81), 2(41.84), 3(41.86), 4(41.89), S2NW
				Section 3: Lots 1(41.77), 2(41.58), 3(41.33), 4(41.11), S2N2, S2

				Tract No. 6
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 5: Lots 1(40.59), 2(40.76), 3(40.94), 4(41.11), S2N2, S2
				Section 9: All
				Section 11: All
				Section 12: W2
				Section 13: All

				Tract No. 7
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 15: All
				Section 16: W2SE
				Section 17: All
				Section 19: Lots 1(41.10), 2(41.10), 3(41.10), 4(40.44), E2W2, E2
				Section 21: All

				Tract No. 8
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 23: All
				Section 25: All
				Section 26: W2W2
				Section 27: All
				Section 29: All

				Tract No. 9
				Township 7 North, Range 7 East, S.L.M.	Rich
				Section 31: Lots 1(39.82), 2(39.88), 3(39.92), 4(39.98), E2W2, E2
				Section 32: All
				Section 33: All
				Section 35: All

				Tract No. 10
				Township 7 North, Range 8 East, S.L.M.	Rich
				Section 7: Lots 1(43.03), 2(42.45), 3(41.87), 4(41.29), E2W2, E2
				Section 9: Lots 1(40.34), 2(40.34), 3(40.34), 4(40.34)
				Section 17: All
				Section 19: Lots 1(39.23), 2(38.88), 3(38.53), 4(38.18), E2W2, E2

				Tract No. 11
				Township 7 North, Range 8 East, S.L.M.	Rich
				Section 21: Lots 1(40.34), 2(40.34), 3(40.34), 4(40.34)
				Section 29: All
				Section 31: Lots 1(38.95), 2(39.25), 3(39.55), 4(39.85), E2W2, E2
				Section 33: Lots 1(39.87), 2(39.93), 3(37.97), 4(37.06)

				Tract No. 12
				Township 6 North, Range 6 East, S.L.M.
				Section 2: Lots 1(39.46), 2(39.59), 3(39.71), 4(39.84), S2N2, S2	Rich
				Section 12: All	Rich
				Section 14: All	Rich
				Section 22: All	Rich & Morgan

				Tract No. 13
				Township 6 North, Range 6 East, S.L.M.
				Section 24: All	Rich
				Section 26: All	Rich
				Section 28: N2SE	Morgan
				Section 32: All	Morgan
				Section 34: N2NE, SENE, W2, SE	Morgan

				Tract No. 14
				Township 6 North, Range 7 East, S.L.M.	Rich
				Section 2: Lots 1(22.77), 2(22.32), 3(21.87), 4(21.42), S2N2, S2
				Section 4: Lots 1(21.78), 2(26.54), 3(31.40), 4(36.06), S2N2, S2
				Section 6: Lots 1(40.87), 2(40.62), 3(40.37), 4(43.35), 5(43.06), 6(42.90), 7(42.73), S2NE, SENW, E2SW, SE
				Section 8: All

				Tract No. 15
				Township 6 North, Range 7 East, S.L.M.	Rich
				Section 10: All

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