0001072613-15-000265 Sample Contracts

CALL OPTION AGREEMENT
Call Option Agreement • April 28th, 2015 • Empire Petroleum Corp • Crude petroleum & natural gas • Delaware

This Call Option Agreement (this “Agreement”), is made and entered as of [•], 2015 (the “Effective Date”), by and among Empire Petroleum Corporation, a Delaware corporation (the “Company”), and [•] (“Optionee”). The Company and Optionee are sometimes collectively referred to herein as the “Parties” and singly as a “Party.”

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COUNTY OF HAAKON § COUNTY OF MEADE § COUNTY OF PENNINGTON §
Option to Acquire Oil & Gas Leases • April 28th, 2015 • Empire Petroleum Corp • Crude petroleum & natural gas • Colorado

This Option to Acquire Oil & Gas Leases (this “Agreement”) is entered into effective as of April 14, 2015, by and between Empire Petroleum Corporation, a Delaware corporation (“Empire”), and Dennis Anderson (“Dennis”), Lazy BS, LLP, a South Dakota limited liability partnership (“LBSP”), Boot Jack Partnership, a South Dakota general partnership (“BJP”), Stan Anderson (“Stan”), Bart Cheney (“Bart”), Scot Eisenbraun (“Scot”), Jem Kjerstad (“Jem”), Kem Kjerstad (“Kem”), Kent Kjerstad (“Kent”) and Kevin Kjerstad (“Kevin”). Dennis, Stan, LBSP, BJP, Bart, Scot, Jem, Kem, Kent and Kevin are sometimes collectively referred to herein as the “BHPP Group” and individually as a “BHPP Group Member.”

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