PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • August 14th, 2009 • ReoStar Energy CORP • Oil & gas field exploration services • Texas
This PURCHASE AND SALE AGREEMENT (this "Agreement") is entered into as of May 20, 2009 by and between REOSTAR ENERGY CORPORATION, a Nevada corporation (the "Purchaser" or "REOS"), and ZAZA ENERGY, LLC, a Texas limited liability company ("ZaZa"), and Eli Smith and Associates (collectively, the "Sellers"). WHEREAS, the Sellers desire to sell the properties listed in Exhibit A attached hereto (the "Properties") containing approximately 13,000 gross mineral acres located in Lavaca County, Texas, to the Purchaser in exchange for cash, while retaining certain overriding royalty interests, and back-in after prospect payout rights. WHEREAS, ZaZa and REOS desire to act as the "Operator of Record" and "Contract Operator," respectively, in connection with the development of and subsequent operations of the Properties for the benefit of the owners thereof; WHEREAS, concurrent with or prior to the Closing of the transaction contemplated by this Agreement, the Purchaser shall have co
EXPLORATION AND DEVELOPMENT AGREEMENTExploration and Development Agreement • August 14th, 2009 • ReoStar Energy CORP • Oil & gas field exploration services • Texas
This Exploration and Development Agreement is entered into this 20th day of May, 2009 by and among ReoStar Energy Corporation ("ReoStar") and ZaZa Energy, LLC ("ZaZa") as follows. ReoStar and ZaZa will sometimes hereinafter be referred to individually as a "Party" and collectively as the "Parties".
