Area of Mutual Interest Agreement
Pursuant to the intent of the Vaquero Partners L.L.C. Operating Agreement and
Vaquero Oil and Gas Operations contract with Vaquero Partners, L.L.C., both
dated August 22, 2003 the undersigned hereby agree to the following:
1. An Area of Mutual Interest "AMI" is hereby established between the
undersigned parties;
2. The AMI encompasses the entirety of the fee surface and minerals
held by any and all members of the Welder family in the continental
United States, with such holdings estimated to encompass
approximately 350,000 acres;
3. The AMI includes all lands lying within a 15 mile radius of any of
the Welder properties;
4. The AMI shall continue for a period of five years;
5. During the period of the AMI Agreement, the parties agree to
contribute all exploration, production and land acquisition
opportunities to Vaquero Partners, L.L.C. under the existing terms
of the Agreement;
6. This Agreement shall be governed under the laws of the State of
Texas.
Accepted and Agreed to this seventeenth day of November, 2003 by:
/s/ Xxxx X. Xxxxxxxxxx /s/ Xxxx Xxxxx
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Dune Energy, Inc. Vaquero Oil and Gas, Inc.
Xxxx X. Xxxxxxxxxx, President Xxxx Xxxxx, President & CEO
