June 14, 2011 American Eagle Energy, Inc.
June 14, 2011
American Eagle Energy, Inc.
00 Xxxxx 00xx Xxxxxx, Xxxxx 00X
Xxxxxxxx, Xxxxxxx 00000
Attention: Xxxxxxx Xxxxxxx
NextEra Energy Gas Producing LLC
0000 Xxxxxxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxx 00000
Attention: Xxxxxxx Xxxxxx
Second Closing
Divide County, North Dakota
Gentlemen,
This Amendatory Letter Agreement (this “Amendment”), once executed by all parties, shall constitute an Amendment to the Purchase and Sale Agreement (the “Agreement”), dated May 17, 2011, and shall be incorporated into said Agreement.
American Eagle Energy Inc., Eternal Energy Corp., and NextEra Energy Gas Producing LLC hereby agree to amend the captioned Agreement as follows:
1. The first paragraph of Article 2.1 shall be deleted in its entirety and replaced with the following:
2.1 Purchase Price. The Purchase price for the Assets shall be $959,000 (the “Purchase Price”), which represents a purchase price of $1,750 per Net Acre (the “Per Net Acre Price”), multiplied by the approximately 1096 aggregate Net Acres covered by the Leases, multiplied by the 50% of Sellers right, title and interest being acquired by Buyer.
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If these changes meet with your approval please execute in the space provided below. Should you have any questions please feel free to call the undersigned.
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Sincerely,
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Xxxx Xxxxx
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President
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NextEra Energy Gas Producing LLC
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Xxxxxxxx X. Xxxx, Xx.
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| Title: |
President
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AGREED and ACCEPTED this ________ day of June, 2011.
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American Eagle Energy Inc.
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| By: |
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| Name: |
Xxxxxxx Xxxxxxx
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| Title: |
President
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AGREED and ACCEPTED this ________ day of June, 2011.
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