LEASE and WELL PURCHASE AGREEMENT
LEASE and WELL PURCHASE AGREEMENT
Xxxxxxxx Lease with 3 oil xxxxx and one Salt Water disposal well located in
Xxxxxx County, Kansas
NW/4 28-20S-12W
Total Acreage: 160 +/- acres
THIS Purchase Agreement is made and entered into on this 9h day of May 2018, by and between the undersigned, SUPERNOVA ENERGY, whose address is 000 Xxxxxxx Xxx XXX 0-000 Xxxxxxxxx Xxxxxx, Xxx Xxxx 00000, hereinafter referred to as “SUPERNOVA”, and Harbourtown Inc. an American corporation, whose address is 0000 Xxxxxxxxxx XX Xxxxx, Xx 00000 , hereinafter referred to as “Harbourtown”.
WITNESSETH
WHEREAS, Harbourtown owns an 18.4% working interest in The Xxxxxxxx Lease (the “Lease”) in the counties and states noted hereinabove in an area known to the parties hereto by the project name noted hereinabove; and,
WHEREAS, SUPERNOVA desires to purchase 18.4% working interest of said lease and xxxxx.
NOW, THEREFORE, in consideration of the premises, the parties hereto do hereby agree and stipulate as follows, to-wit:
| 1. | SUPERNOVA agrees to pay to Harbortown the amount of $20,000 US within 90 days and 20,000 newly issued preferred shares of Supernova Energy, Inc. to purchase an 18.4% working interest in the three existing xxxxx and in the remaining undeveloped portions of the lease. |
2. Harbourtown agrees to transfer ownership to Supernova Energy for the above consideration. In an event that the above consideration is not completed within 90 days the working interest defaults back to the seller.
3. SUPERNOVA agrees and accepts the conditions of this Agreement and further acknowledges that the oil and gas business is inherently risky and that all or part of any investment on this project may be lost. With this in mind, Harbourtown makes no representation or guarantee regarding any amount of possible oil or gas production or the numerous risks in connection with an investment in this project. SUPERNOVA further states that it can withstand the total loss of investment without causing a change in lifestyle.
4. This Agreement embodies the entire agreement between the parties hereto, and supersedes any and all prior negotiations or agreements in regard thereto. No alteration or extensions of this Agreement shall be binding unless in writing and signed by the parties hereto.
| 5. | The parties hereto acknowledge that they have read the above and foregoing Agreement thoroughly, that there has been adequate opportunity to consult legal counsel concerning this Agreement and that they have executed the same freely and voluntarily on the date hereof. |
| 1 |
IN WITNESS WHEREOF, this Agreement has been agreed to and signed by each of the parties hereto, as of the day first above written.
| SUPERNOVA ENERGY | |
| BY: /s/ Xxxxx Xxxxxx | |
| Xxxxx Xxxxxx, President and Sole Director | |
| Harbourtown Inc. | |
| BY: /s/ Xxxxxxx Xxxxxxxxx | |
| Xxxxxxx Xxxxxxxxx |
| 2 |
LEASE and WELL PURCHASE AGREEMENT
Xxxxxxxx Lease with 3 oil xxxxx and one Salt Water disposal well located in
Xxxxxx County, Kansas
NW/4 28-20S-12W
Total Acreage: 160 +/- acres
THIS Purchase Agreement is made and entered into on this 9h day of May 2018, by and between the undersigned, SUPERNOVA ENERGY, whose address is 000 Xxxxxxx Xxx XXX 0-000 Xxxxxxxxx Xxxxxx, Xxx Xxxx 00000, hereinafter referred to as “SUPERNOVA”, and Navon Consulting, an American corporation, whose address is PMB 00 X Xxxxxx Xxxxx, XX 00000, hereinafter referred to as “Navon”.
WITNESSETH
WHEREAS, Navon owns an 18.4% working interest in The Xxxxxxxx Lease (the “Lease”) in the counties and states noted hereinabove in an area known to the parties hereto by the project name noted hereinabove; and,
WHEREAS, SUPERNOVA desires to purchase 18.4% working interest of said lease and xxxxx.
NOW, THEREFORE, in consideration of the premises, the parties hereto do hereby agree and stipulate as follows, to-wit:
| 1. | SUPERNOVA agrees to pay to Navon the amount of $20,000 US within 90 days and 20,000 newly issued preferred shares of Supernova Energy, Inc. to purchase an 18.4% working interest in the three existing xxxxx and in the remaining undeveloped portions of the lease. |
2. Navon agrees to transfer ownership to Supernova Energy for the above consideration. In an event that the above consideration is not completed within 90 days the working interest defaults back to the seller.
3. SUPERNOVA agrees and accepts the conditions of this Agreement and further acknowledges that the oil and gas business is inherently risky and that all or part of any investment on this project may be lost. With this in mind, Navon makes no representation or guarantee regarding any amount of possible oil or gas production or the numerous risks in connection with an investment in this project. SUPERNOVA further states that it can withstand the total loss of investment without causing a change in lifestyle.
4. This Agreement embodies the entire agreement between the parties hereto, and supersedes any and all prior negotiations or agreements in regard thereto. No alteration or extensions of this Agreement shall be binding unless in writing and signed by the parties hereto.
| 5. | The parties hereto acknowledge that they have read the above and foregoing Agreement thoroughly, that there has been adequate opportunity to consult legal counsel concerning this Agreement and that they have executed the same freely and voluntarily on the date hereof. |
| 3 |
IN WITNESS WHEREOF, this Agreement has been agreed to and signed by each of the parties hereto, as of the day first above written.
| SUPERNOVA ENERGY | |
| BY: /s/ Xxxxx Xxxxxx | |
| Xxxxx Xxxxxx, President and Director | |
| Navon Consulting | |
| BY: /s/ Xxxxx Xxxxx | |
| Xxxxx Xxxxx |
| 4 |
