Leasehold Acquisition and Development Option Agreement Sample Contracts

LEASEHOLD ACQUISITION AND DEVELOPMENT OPTION AGREEMENT

Leasehold Acquisition and Development Option Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas • Utah

• Contract Type
  Leasehold Acquisition and Development Option Agreement
• Filed
  December 29th, 2023
• Company
  Lafayette Energy Corp.
• Industry
  Crude petroleum & natural gas
• Jurisdiction
  Utah

WHEREAS, HSO holds certain tar sands production leases in the State of Utah described in Exhibit A (the “Leases”) on certain properties described in Exhibit A (the “Property”), and is offering a 30% production share (“Proportionate Production Share”) to LEC in the Leases and HSO’s initial 960 acre drilling and production program, per the Asphalt Ridge Development Plan attached hereto as Exhibit B (the “Development Plan”), and additional rights as set forth herein;