AMENDMENT NO. 1 TO STOCK AND MINERAL LEASE PURCHASE AGREEMENT
Exhibit 10.23
AMENDMENT NO. 1 TO
THIS
AMENDMENT NO. 1 TO STOCK AND MINERAL LEASE PURCHASE AGEEMENT is
entered into as of December 30, 2016 ("Amendment No. 1"),
between FIELDPOINT PETROLEUM
CORPORATION, a
Colorado corporation ("Company") and
HFT ENTERPRISES, LLC, a
Nevada limited liability company (“HFT”).
R E C I T A L S
A. Company and HFT are
parties to an existing Stock and Mineral Lease Purchase Agreement
dated August 12, 2016 (the “Original
Agreement”).
B. The Company and HFT
desire to amend certain provisions of the Original
Agreement.
NOW,
THEREFORE, in consideration of these premises and for other good
and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Original Agreement is hereby amendeded
as follows:
1. Xxxxxxx 0, Xxxxxxxx and Sale of Oil
and Gas Mineral Lease, is hereby replaced in its entirety
with the following paragraph:
“2.
Purchase and Sale of Oil and Gas
Mineral Lease. On the Closing Date, the Company shall give
the Buyer, the right to purchase an undivided 100% working interest
on or before April 1, 2017 (the “Lease Interest”) in
either the Company’s Elkhorn and XX Xxxxxx leases in the Big
Muddy Oil Field in Converse County, Wyoming for a purchase price of
$430,000.00, or the Company’s mineral lease covering the
Sulimar Field in Xxxxxx County, New Mexico for a purchase price to
be determined.”
2. Except as expressly
modified by this Amendment No. 1, the parties reaffirm that the
Original Agreement is and remains in full force and effect. In the
event of any conflict or inconsistency between the Original
Agreement and this Amendment No. 1, the provisions of this
Amendment No. 1 shall control.
[Signature
Page to Follow]
IN
WITNESS WHEREOF, the parties hereto have executed this Amendment
No. 1 to be effective as of the date and year first above
written.
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COMPANY:
FIELDPOINT
PETROLEUM CORPORATION
By:
Name: Title:
HFT:
HFT
ENTERPRISES, LLC
By:
Name:
Title:
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