EXHIBIT 10.1
STATE OF LOUISIANA SS.
SS.
PARISH OF DESOTO SS.
ASSIGNMENT, CONVEYANCE AND XXXX OF SALE
THIS ASSIGNMENT, XXXX OF SALE AND CONVEYANCE {"ASSIGNMENT"), is
effective August 4, 2008 at 7:00 a.m. Central Daylight Time (the "EFFECTIVE
TIME") and is entered into by and between MAINLAND RESOURCES, INC. a Nevada
corporation, whose address is 00000 XX 000, Xxxxx 000, Xxxxxxx, Xxxxx 00000,
herein ("ASSIGNOR") AND PETROHAWK PROPERTIES, LP, a Texas limited partnership,
0000 Xxxxxxxxx, Xxxxx 0000, Xxxxxxx, Xxxxx 00000 {'|'ASSIGNEE"):
1. For One Hundred and No/100 ($ 100.00) Dollars and other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged. Assignor hereby sells, assigns, transfers, grants, bargains
and conveys unto Assignee sixty percent (60% of 100%) of all the right,
title and interest in and to the following real and personal property
interests owned by Assignor (collectively, the "PROPERTIES"):
(a) The oil, gas and/or mineral leases (the "LEASES') as described in
EXHIBIT A, covering the lands described in said EXHIBIT A, and in the
Leases, but only as to the depths 100 feet below the stratigraphic
equivalent of the base of the Cotton Valley formation, as identified
at 10,260 feet log depth in the electric log of the Winchester Xxxxxxx
23-1 well (API#17-031 -24064) (the "LAND" or "LANDS"), together with
all the property and rights incident thereto, including fee mineral,
net profits, reversionary, production payments and royalty interests
attributable thereto. The net revenue interest herein conveyed to
Assignee shall not be less than seventy-five percent (75%) of all
production attributable to the Leases proportionally reduced to the
interests being conveyed herein.
(b) The pooling, unitization and communitization agreements, declarations
and orders, and all other such agreements, if any, relating to the
Leases and Lands described in subsection (a).
(c) All existing and effective contracts and agreements, if any, relating
to the Leases, or the Lands, including without limitation, all
operating agreements, exploration agreements, farmout agreements, area
of mutual interest agreements, rights of ingress and egress (as long
as such rights do not interfere with the rights of Seller), if any,
insofar as they relate to the properties and interests described in
subsections (a) and (b).
(d) The permits, rights-of-way, surface leases, easements, and servitudes
used in connection therewith and all contracts and agreements relating
to the Properties, it being expressly understood and agreed that
Assignor reserves a non-exclusive right to utilize such permits,
rights-of-way, surface leases, easements, and servitudes in connection
with operations on depths not assigned herein.
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(e) Copies of all of Assignor's land files and records relating to the
Leases, described in subsections (a) through (d) above, including
Seller's lease files, abstracts and title opinions.
TO HAVE AND TO HOLD the Properties unto Assignee and its successors and assigns
forever.
2. This Assignment is made subject to the following terms and conditions:
(A) This Assignment is being made pursuant to the terms of the Letter
Agreement dated July 14, 2008, between Assignor and Petrohawk Energy Corporation
on behalf of Petrohawk Properties, LP (the "LA"). The Assignor and Assignee
intend that the terms of the LA remain separate and distinct from and not merge
into the terms of this Assignment.
(B) ASSIGNOR WARRANTS TITLE TO THE PROPERTIES FROM AND AGAINST ALL PERSONS
CLAIMING BY, THROUGH OR UNDER ASSIGNOR, BUT NOT OTHERWISE AND THAT THE LEASES
HAVE BEEN MAINTAINED IN FULL FORCE AND EFFECT PURSUANT TO THE TERMS OF EACH
LEASE.
(C) Assignee hereby agrees to assume, and to timely pay and perform, all
duties, obligations and liabilities relating to the ownership and/or operation
of the Properties after the Effective Time (including, without limitation, those
arising under the contracts and agreements described in Section 1 above).
(D) To the extent permitted by law, Assignee shall be subrogated to
Assignor's rights in and to representations, warranties and covenants given with
respect to the Properties. Assignor hereby grants and transfers to Assignee, its
successors and assigns, to the extent so transferable and permitted by law, the
benefit of and the right to enforce the covenants, representations and
warranties, if any, which Assignor is entitled to enforce with respect to the
Properties, but only to the extent not enforced by Assignor.
(E) This Assignment binds and inures to the benefit of Assignor and
Assignee and their respective successors and assigns.
EXECUTED on the dates contained in the acknowledgments of this
Assignment, to be effective for all purposes as of the Effective Time.
ASSIGNOR:
WITNESSES MAINLAND RESOURCES. INC.
/s/ ________________________
/s/ ________________________ By: /s/ XXXXXXX X. NEWPORT
__________________________
Name: Xxxxxxx X. Newport
Title: President
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ASSIGNEE:
PETROHAWK PROPERTIES, LP
/s/ ________________________ By: P-H Energy, LLC, its general partner
/s/ ________________________ By: /s/ XXXXXXX X. XXXXX
________________________________
Name: Xxxxxxx X. Hercd
Title: Executive Vice-President
ACKNOWLEDGEMENTS
STATE OF TEXAS SS.
SS.
COUNTY OF XXXXXX XX.
I do hereby certify that Xxxxxxx X. Newport, as President of Mainland
Resources, Inc., personally appeared before me this day and acknowledged the due
execution of the foregoing instrument on behalf of said corporation.
SWORN TO AND SUBSCRIBED before me on the 4th day of August, 2008.
[XXXXXXX X. XXXXXX
NOTARY PUBLIC, STATE OF TEXAS
MY COMMISSION EXPIRES
MAR. 11, 2009
SEAL APPEARS HERE] /s/ XXXXXXX X. XXXXXX
_____________________
Notary Public
STATE OF TEXAS SS.
SS.
COUNTY OF XXXXXX XX.
I do hereby certify that Xxxxxxx X. Xxxxx, as Executive Vice-President of
P-H Energy, LLC, general partner of Petrohawk Properties, LP, personally
appeared before me this day and acknowledged the due execution of the foregoing
instrument on behalf of Petrohawk Propeties, LP.
SWORN TO AND SUBSCRIBED before me on the 4th day of August, 2008.
[XXXXX X. XXXXXX
MY COMMISSION EXPIRES
NOVEMBER 27, 2008
SEAL APPEARS HERE] /s/ XXXXX X. XXXXXX
_____________________
Notary Public
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EXHIBIT "A"
ATTACHED HERETO AND MADE A PART HEREOF THAT CERTAIN ASSIGNMENT OF OIL, GAS AND
MINERAL, LEASES DATED AUGUST 4, 2008, BY AND BETWEEN MAINLAND RESOURCES, INC, AS
ASSIGNOR AND PETROHAWK PROPERTIES, LP AS ASSIGNEE
LESSOR STATE PARISH LEASE DATE BOOK/PAGE
SECTION 11(13N-14W)
Xxxx Xxxxxxxx, etal Louisiana DeSoto 5/15/2007 912/46
Xxxx Xxxxxxxx, etal Louisiana DeSoto 5/15/2007 912/46
Xxxx Xxxxxxxx, etal Louisiana DeSoto 5/15/2007 912/46
Xxxxxxx X. Xxxxxxx Louisiana DeSoto 5/15/2007 912/54
Xxxx X. Xxxxxxx Louisiana DeSoto 5/15/2007 912/58
Franklin Farms, LLC Louisiana DeSoto 8/20/2007 921/288
Xxxxxxx X. Xxxx, et ux Louisiana DeSoto 8/20/2007 921/292
SECTION 12(13N-14W)
Xxxxxxx X. Xxxxxxx Louisiana DeSoto 5/15/2007 921/54
Xxxx X. Xxxxxxx Louisiana DeSoto 5/15/2007 912/58
Xxxxx X. Xxxxxx & Harris G. (H&W) Louisiana DeSoto 5/17/2007 912/62
Old Farm, LLC Louisiana DeSoto 8/07/2007 919/231
Xxxxxxxx X. Xxxxxx Louisiana DeSoto 8/07/2007 919/227
SECTION 14(13N-14W)
Xxxxxxx Xxxxxxxx Xxxxxxx Louisiana DeSoto 2/01/2008 934/33
Xxxxxxx Xxxxxxxx Couch Louisiana DeSoto 2/01/2008 938/872
Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 935/647
Xxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 935/706
Xxxxx Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 933/635
Xxxx X. Xxxxxxx Xxxxxxxx, Usufruct. Louisiana DeSoto 3/06/2008 937/727
Xxxxxxx X. Xxxxxxxx etal
Xxxxxxx Xxxxxxxx Xxxxxx Louisiana DeSoto 2/01/2008 934/166
Xxxx Xxxxx Xxxxxx Louisiana DeSoto 2/01/2008 935/178
Xxxxxx X. Xxxxxxxx Louisiana DeSoto 7/29/2005 852/162 EXT 931/9
Xxxxxxx Xxxxxxxx Xxxxxxx Louisiana DeSoto 2/01/2008 934/33
Xxxxxxx Xxxxxxxx Couch Louisiana DeSoto 2/01/2008 938/872
Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 935/647
Xxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 935/706
Xxxxx Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 933/635
Xxxx X. Xxxxxxx Xxxxxxxx Usufruct Louisiana DeSoto 3/06/2008 937/727
Xxxxxxx X. Xxxxxxxx etal
Xxxxxxx Xxxxxxxx Xxxxxx Louisiana DeSoto 2/01/2008 934/166
Xxxx Xxxxx Xxxxxx Louisiana DeSoto 2/01/2008 935/178
Xxxxxx X. XxXxxxxx, Xx. Louisiana DeSoto 2/01/2008 935/268
Xxxxxxx Xxxxxxxx Xxxxxxx Louisiana DeSoto 2/01/2008 934/33
Xxxxxxx Xxxxxxxx Couch Louisiana DeSoto 2/01/2008 938/872
Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 935/647
Xxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 935/706
Xxxxx Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 2/01/2008 933/635
Xxxx X. Xxxxxxx Xxxxxxxx Usufruct Louisiana DeSoto 3/06/2008 937/727
Xxxxxxx X. Xxxxxxxx etal
Xxxxxxx Xxxxxxxx Xxxxxx Louisiana DeSoto 2/01/2008 934/166
Xxxx Xxxxx Xxxxxx Louisiana DeSoto 2/01/2008 935/178
Xxxxxxx X. XxXxxxxx and Xxxxxx X. XxXxxxxx Louisiana DeSoto 2/01/2008 934/381
Xxxx X. and Xxxx Xxxx Louisiana DeSoto 2/26/2008 935/594
SECTION 15(13N-14W)
Xxxxxxx Xxxxxxxx Xxxxxxx Louisiana DeSoto 7/11/2005 852/129 EXT 930/416
Xxxxxxx Xxxxxxxx Couch Louisiana DeSoto 7/11/2005 852/126 EXT 938/872
Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 852/117 EXT 932/376
Xxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 852/120 EXT 930/792
Xxxxx Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 849/635 EXT 938/872
Xxxx X. Xxxxxxx Driffith et al Louisiana DeSoto 8/19/2005 855/611 EXT 930/222
Xxxxxxx Xxxxxxxx Xxxxxx Louisiana DeSoto 7/22/2005 854/708 EXT 934/166
Xxxx Xxxxx Xxxxxx Louisiana DeSoto 7/22/2005 854/304 EXT 935/178
Xxxxxx X. Xxxxxx, Xx. Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Wayian X. Xxxxxx, Xx. Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Page 1 of 3
EXHIBIT "A"
ATTACHED HERETO AND MADE A PART HEREOF THAT CERTAIN ASSIGNMENT OF OIL, GAS AND
MINERAL, LEASES DATED AUGUST 4, 2008, BY AND BETWEEN MAINLAND RESOURCES, INC, AS
ASSIGNOR AND PETROHAWK PROPERTIES, LP AS ASSIGNEE
LESSOR STATE PARISH LEASE DATE BOOK/PAGE
Xxxxxx X. Xxxxxx Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx Xxxxx Xxxxxxx Louisiana DeSoto 7/11/2005 852/132 EXT 931/238
Xxxxxx Xxxxxxxxx Xxxxxxx Xxxxxxxx Louisiana DeSoto 6/28/2005 852/123 EXT 930/529
Xxxxxxx Xxxxxxxx Xxxxxxx Louisiana DeSoto 7/11/2005 852/129 EXT 939/416
Xxxxxxx Xxxxxxxx Couch Louisiana DeSoto 7/11/2005 852/126 EXT 938/872
Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 852/117 EXT 932/376
Xxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 852/120 EXT 930/792
Xxxxx Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 849/635 EXT 938/872
Xxxx X. Xxxxxxx Driffith et al Louisiana DeSoto 8/19/2005 855/611 EXT 930/222
Xxxxxxx Xxxxxxxx Xxxxxx Louisiana DeSoto 7/22/2005 854/708 EXT 934/166
Xxxx Xxxxx Xxxxxx Louisiana DeSoto 7/22/2005 854/304 EXT 935/178
Xxxxxx X. Xxxxxx, Xx. Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx X. Xxxxxx, Xx. Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx X. Xxxxxx Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx Xxxxx Xxxxxxx Louisiana DeSoto 7/11/2005 852/132 EXT 931/238
Xxxxxx Xxxxxxxxx Xxxxxxx Xxxxxxxx Louisiana DeSoto 6/28/2005 852/123 EXT 930/529
Xxxxxxx Xxxxxxxx Xxxxxxx Louisiana DeSoto 7/11/2005 852/129 EXT 930/416
Xxxxxxx Xxxxxxxx Couch Louisiana DeSoto 7/11/2005 852/126 EXT 938/872
Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 852/117 EXT 932/376
Xxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 842/120 EXT 930/792
Xxxxx Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 849/635 EXT 938/872
Xxxx X. Xxxxxxx Friffith et al Louisiana DeSoto 8/19/2005 855/611 EXT 930/222
Xxxxxxx Xxxxxxxx Xxxxxx Louisiana DeSoto 7/22/2005 854/708 EXT 934/166
Xxxx Xxxxx Xxxxxx Louisiana DeSoto 7/22/2005 854/304 EXT 935/178
Xxxxxx X. Xxxxxx, Xx. Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx X. Xxxxxx, Xx. Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx X. Xxxxxx Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx Xxxxx Xxxxxxx Louisiana DeSoto 7/11/2005 852/132 EXT 931/238
Xxxxxx Xxxxxxxxx Xxxxxxx Xxxxxxxx Louisiana DeSoto 6/20/2005 852/123 EXT 930/529
Xxxx X. Xxxxxxxx Xxxxxx Louisiana DeSoto 6/20/2005 849/631 EXT 933/467
Xxxxxx Xxxx Xxxx Louisiana DeSoto 6/20/2005 849/627 EXT 932/296
Xxxxxxx Xxxxxxxx Xxxxxxx Louisiana DeSoto 7/11/2005 852/129 EXT 930/416
Xxxxxxx Xxxxxxxx Couch Louisiana DeSoto 7/11/2005 852/126 EXT 938/872
Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 852/117 EXT 932/376
Xxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 852/120 EXT 930/792
Xxxxx Xxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 7/11/2005 849/635 EXT 938/872
Xxxx X. Xxxxxxx Xxxxxxxx et al Louisiana DeSoto 8/19/2005 855/611 EXT 930/222
Xxxxxxx Xxxxxxxx Xxxxxx Louisiana DeSoto 7/22/2005 854/708 EXT 934/166
Xxxx Xxxxx Xxxxxx Louisiana DeSoto 7/22/2005 854/304 EXT 935/178
Xxxxxx X. Xxxxxx, Xx. Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx X. Xxxxxx, Xx. Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx X. Xxxxxx Louisiana DeSoto 6/16/2005 849/624 EXT 931/12
Xxxxxx Xxxxx Xxxxxxx Louisiana DeSoto 7/11/2005 852/132 EXT 931/238
Xxxxxx Xxxxxxxxx Xxxxxxx Xxxxxxxx Louisiana DeSoto 6/20/2005 852/123 EXT 930/529
Xxxxxxx X. Xxxx, Xx. Louisiana DeSoto 6/20/2005 854/294 EXT 930/231
Desert Partners III, LP Louisiana DeSoto 3/14/2008 938/779
Xxxxxx X. Xxxxxx Louisiana DeSoto 3/14/2008 943/217
Ashley Xxx Xxxxxx Louisiana DeSoto 3/14/2008 940/398
SECTION 16(13N-14W)
Xxxxxxxxx Xxxxxxx, L.L.C. Louisiana DeSoto 10/18/2007 000/000
Xxxxxxxx Xxxxxxxxx Xxxxxxx Xxxxxxxxx DeSoto 10/18/2007 927/156
Xxxxxx Xxxx Xxxxx and Xxxxxx X. Xxxxx Louisiana DeSoto 11/30/2007 928/18
Xxxxxxx X. Xxxx and Xxxxxxxx X. Xxxx Louisiana DeSoto 10/12/2007 927/151
Xxxxx X. Xxxxxxx Louisiana DeSoto 10/15/2007 925/552
Desert Partners III, LP Louisiana DeSoto 3/14/2008 938/779
Xxxxxx X. Xxxxxx Louisiana DeSoto 3/14/2008 943/217
Page 2 of 3
EXHIBIT "A"
ATTACHED HERETO AND MADE A PART HEREOF THAT CERTAIN ASSIGNMENT OF OIL, GAS AND
MINERAL, LEASES DATED AUGUST 4, 2008, BY AND BETWEEN MAINLAND RESOURCES, INC, AS
ASSIGNOR AND PETROHAWK PROPERTIES, LP AS ASSIGNEE
LESSOR STATE PARISH LEASE DATE BOOK/PAGE
Ashley Xxx Xxxxxx Louisiana DeSoto 3/14/2008 940/398
SECTION 21(13N-14W)
Desert Partners III, LP Louisiana DeSoto 3/14/2008 938/779
Xxxxxx X. Xxxxxx Louisiana DeSoto 3/14/2008 943/217
Ashley Xxx Xxxxxx Louisiana DeSoto 3/14/2008 940/398
SECTION 22(13N-14W)
Desert Partners III, LP Louisiana DeSoto 3/14/2008 938/779
Xxxxxx X. Xxxxxx Louisiana DeSoto 3/14/2008 943/217
Ashley Xxx Xxxxxx Louisiana DeSoto 3/14/2008 940/398
Xxxx Xxxxxxx Louisiana DeSoto 3/03/2008 936/160
Xxxxx Xxxx Xx. Louisiana DeSoto 3/04/2008 936/156
Xxxxxx and Xxxxxx Xxxxxx Louisiana DeSoto 3/04/2008 936/164
Xxxxxx and Xxxx Xxxxx Louisiana DeSoto 3/03/2008 938/317
SECTION 7(13N-13W)
Old Farm, LLC Louisiana DeSoto 8/29/2007 920/858
Xxxxxxxx X. Xxxxxx Louisiana DeSoto 8/29/2007 920/862
Xxxxxxx Xxxxxxxx Xxxxxxxx Louisiana DeSoto 3/17/2008 938/600
Page 3 of 3
