Exhibit 10.9

CONVERTIBLE DEBENTURE TRANSFER AGREEMENT

This CONVERTIBLE DEBENTURE TRANSFER AGREEMENT (this “Agreement”) is entered into
as of the 17th day of March, 2015 (the “Effective Date”), by and among, MOMONA
CAPITAL (the “Holder”), whose address is 510 Madison Avenue, New York, New York
10022; VAST EXPLORATION, LLC, a Texas limited liability company (the
“Purchaser”), whose address is10119 W. Lariat Lane, Peoria, AZ 85383; and
JAYHAWK ENERGY, INC., a Colorado corporation (the “Company”), whose address is
611 E. Sherman Avenue, Coeur d’Alene, Idaho 83814. 

RECITALS:

 

WHEREAS, on December 11, 2009, the Holder and the Company entered into a
Convertible Debenture Purchase Agreement pursuant to which the Company issued to
the Holder a 10% Senior Secured Convertible Debenture in the principal amount of
$16,667 with a current balance of $12,050.24 (the “12/11/2009 Momona Convertible
Debenture”) described in greater detail on Exhibit 1-B.

WHEREAS, on December 30, 2009, the Holder and the Company entered into a
Convertible Debenture Purchase Agreement pursuant to which the Company issued to
the Holder a 10% Senior Secured Convertible Debenture in the principal amount of
$33,333 with a current balance of $24,099.76 (the “12/30/2009 Momona Convertible
Debenture”) described in greater detail on Exhibit 2-B.

 

WHEREAS, on April 22, 2010, the Holder and the Company entered into a
Convertible Debenture Purchase Agreement pursuant to which the Company issued to
the Holder a 10% Senior Secured Convertible Debenture in the principal amount of
$33,333 with a current balance of $24,099.76 (the “04/22/2010 Momona Convertible
Debenture”) described in greater detail on Exhibit 3-B.

WHEREAS, on October 18, 2010, the Holder and the Company entered into a
Convertible Debenture Purchase Agreement pursuant to which the Company issued to
the Holder a 10% Senior Secured Convertible Debenture in the principal amount of
$113,333 with a current balance of $22,500 (the “10/18/10 Momona Convertible
Debenture”) described in greater detail on Exhibit 4-B.

WHEREAS, the “12/11/2009 Momona Convertible Debenture”, “12/30/2009 Momona
Convertible Debenture”, “04/22/2010 Momona Convertible Debenture”, “10/18/2010
Momona Convertible Debenture” (including amendments thereto) and the
corresponding Partial Reset of Conversion Price letters shall be collectively
referred to herein as (the “Convertible Debentures”). The Convertible Debentures
are described in further detail on the Index following the signature page to
this Agreement.

WHEREAS, the Holder has determined that it is in its best interests to sell,
subject to the terms and conditions set forth herein, the various Convertible
Debentures to the Purchaser;

 

WHEREAS, the Purchaser has determined that it is in its best interest to
purchase, subject to the terms and conditions set forth herein, the various
Convertible Debentures from the Holder; and

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WHEREAS, the Company has agreed to the provisions of this Agreement that are
necessary for the parties to complete the transaction which they have
negotiated.

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements
herein set forth, the Recitals set forth above and incorporated herein by
reference and for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as follows:

1.

Transfer of the Convertible Debentures.   The Purchaser shall pay the Holder the
sum of Thirty-Five Thousand Eight Hundred Fifty and 50/100's ($35,850.50)
Dollars (the “Transfer Price”) in consideration of the purchase of Holder's
entire right, title and interest in the Convertible Debentures.  The payment
shall be made by a combination of cash and promissory note.

a.

Cash Payment:   Purchaser shall pay the sum of: $11,950.50 by wire transfer to
Holder’s U.S. Banking institution. Wire instructions will be provided to the
Purchaser upon execution of this Agreement.

b.

Promissory Note:  Purchase shall make and deliver to Holder one (1) promissory
note as follows:

i.

The promissory note shall cover the balance due for the Convertible Debentures
described in Section 1(c)(i-iv) below and shall have a face value of: $23,900
(See EXHIBIT X).

c.

 Convertible Debenture Purchase Price Allocation:

i.

“12/11/2009 Momona Convertible Debenture” with a principal balance of
$12,050.24: Purchase Price is $3,480.43.

ii.

“12/30/2009 Momona Convertible Debenture” with a principal balance of
$24,099.76: Purchase price is $6,960.64.

iii.

“04/21/2009 Momona Convertible Debenture” with a principal balance of
$24,099.76: Purchase price is $6,960.64.

iv.

“10/18/2010 Momona Convertible Debenture” with a principal balance of $22,500:
Purchase price is $6,498.59.

d.

The transfer of the Convertible Debentures and payment of the Transfer Price
shall be completed within five (5) business days of the Effective Date of this
Agreement.

e.

The Convertible Debentures shall be transferred with all the conversion rights
described in the Convertible Debentures. Unless otherwise provided in this
Agreement, the risks and full economic benefits with respect to the Convertible
Debentures shall pass to the Purchaser upon receipt of the Convertible
Debentures. If the Purchaser fails to pay the Transfer Price in full within five
(5) business days of the Effective Date, the transfer of the Convertible
Debentures

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shall be postponed accordingly until such date when the Holder receives the wire
and promissory note.  

f.

The transfer of the Convertible Debentures shall be completed through the
execution of various assignments (the “Assignment of Convertible Debenture”)
attached hereto on EXHIBITS 1-A, 2-A, 3-A, and 4-A.

g.

Upon receipt of the Transfer Price the Holder shall surrender the originally
executed Convertible Debentures to the Purchaser’s address as first set forth
above.

2.

Further Documentation. The parties hereby agree to execute such other documents
as may be required to carry out this transaction including, but not limited to
the issuance of any replacement Convertible Debentures, if necessary.

3.

REPRESENTATIONS AND WARRANTIES.

a.

Representations and Warranties of the Purchaser. The Purchaser represents and
warrants to the Holder as follows:

i.

The Purchaser has all power and authority to execute, deliver and perform this
Agreement. The execution, delivery and performance by the Purchaser of this
Agreement and the transactions contemplated hereby including, without
limitation, the purchase of the Convertible Debentures, have been duly
authorized by the Purchaser.

ii.

This Agreement has been duly executed and delivered by Purchaser and constitutes
the legal, valid and binding obligation of the Purchaser, enforceable against
the Purchaser in accordance with its terms.

iii.

The execution, delivery and performance of this Agreement by the Purchaser and
the consummation of the transactions contemplated thereby, do not and will not
(a) violate any requirement of law applicable to the Purchaser, or (b) result in
a material breach or default under any of the contractual obligations of the
Purchaser, or under any order, writ, judgment, injunction, decree, determination
or award of any governmental authority, in each case applicable the Purchaser or
its properties.

iv.

No approval, consent, compliance, exemption, authorization, or other action by,
or notice to, or filing with, any governmental authority or any other person in
respect of any requirement of law, and no lapse of a waiting period under any
requirement of law, is necessary or required in connection with the execution,
delivery or performance by the Purchaser (including, without limitation, the
acquisition of the Convertible Debentures) or enforcement against the Purchaser
of this Agreement or the transactions contemplated hereby.

b.

Representations and Warranties of the Holder. The Holder represents and warrants
to the Purchaser as follows:

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i.

The Holder has all power and authority to execute, deliver and perform this
Agreement and is in good standing under the laws of the state of its formation.

ii.

This Agreement is the valid and binding obligation of the Holder, enforceable
against the Holder in accordance with its terms.

iii.

The Holder is the record and beneficial owner of the Convertible Debentures
acquired by the Purchaser, and the Convertible Debentures conveyed pursuant to
this Agreement have not been assigned, pledged, sold, transferred, fully
converted or otherwise previously conveyed.

iv.

The execution, delivery and performance of this Agreement by the Holder and the
consummation of the transactions contemplated thereby, do not and will not (a)
violate any requirement of law applicable to the Holder, or (b) result in a
material breach or default under any of the contractual obligations of the
Holder, or under any order, writ, judgment, injunction, decree, determination or
award of any governmental authority, in each case applicable the Holder or its
properties.

v.

No approval, consent, compliance, exemption, authorization, or other action by,
or notice to, or filing with, any governmental authority or any other person in
respect of any requirement of law, and no lapse of a waiting period under any
requirement of law, is necessary or required in connection with the execution,
delivery or performance by the Holder (including, without limitation, the
transfer of the Convertible Debentures) or enforcement against the Holder of
this Agreement or the transactions contemplated hereby.

c.

Representations and Warranties of the Company. The Company represents and
warrants to the Purchaser as follows:

i.

The Company has all power and authority to execute, deliver and perform this
Agreement and is in good standing under the laws of the state of its formation.

ii.

This Agreement is the valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms.

iii.

The Convertible Debentures were validly issued and are presently outstanding in
the representative form attached hereto and have not been altered or amended
(except as disclosed herein) nor are they subject to any adverse claim or
dispute whatsoever.  The Company affirms the representation and warranty
contained in Section 4 below.

iv.

The Company is currently in breach of the terms of the Convertible Debentures
and is incurring default rates of interest on the Convertible Debentures.

v.

The Company consents the various assignments of the Convertible Debentures from
Holder to Purchaser.

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4.

No Impairment of Security Interests.  All of the property securing the
Convertible Debentures shall remain subject to the liens, charges, or
encumbrances of such property, and nothing in this Agreement shall affect the
security interests granted in conjunction with the Convertible Debentures or the
priority of such security interests over any other liens, charges, encumbrances
or conveyances.

5.

Governing Law; Successors and Assigns. This Agreement shall be governed and
construed in accordance with the laws of the State of New York and applicable
federal law without giving effect to any choice of law or conflict of law rules
or provisions (whether of the State of New York or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than the State
of New York and shall be binding upon the heirs, personal representatives,
executors, administrators, successors and assigns of the parties.

6.

Confidentiality. Each party agrees to hold and keep the information in this
Agreement confidential and will not disclose any of such information in any
manner whatsoever, except as may otherwise be required by applicable law.

7.

Severability. If any one or more of the provisions contained herein, or the
application thereof in any circumstance, is held invalid, illegal or
unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision in every other respect and of the remaining
provisions hereof shall not be in any way impaired.

8.

Headings. The headings of the Sections of this Agreement are for convenience and
shall not by themselves determine the interpretation of this Agreement.

9.

Counterparts. This Agreement may be executed in any number of counterpart
copies, all of which copies shall constitute one and the same instrument.

10.

Independent Counsel. The Purchaser, the Holder and the Company have been
provided with an opportunity to consult with their own counsel and their own
business, securities and tax advisors with respect to this Agreement.

11.

Effective. This Agreement becomes effective upon the parties’ execution.

12.

Survival of Representations and Warranties. All representations and warranties
contained herein or made in writing by any party in connection herewith shall
survive the execution and delivery of this Agreement.

13.

Further Assurances. Each of the parties shall execute such documents and perform
such further acts (including, without limitation, obtaining any consents,
exemptions, authorizations, or other actions by, or giving any notices to, or
making any filings with, any governmental authority or any other person) as may
be reasonably required or desirable to carry out or to perform the provisions of
this Agreement.

14.

Amendments. This Agreement may be amended, modified or supplemented at any time
by the parties hereto only by an instrument in writing signed on behalf of each
of the parties hereto.

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15.

Fees and Expenses. All fees and expenses incurred in connection with this
Agreement and the transactions contemplated hereby shall be paid by the party
incurring such fees or expenses.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date
first written above.

 

 

 

For and on behalf of:

 

 

 

VAST EXPLORATION, LLC

 

 

 

                   /s/ Scott Mahoney

 

Signature:                                                            

 

Name: Scott Mahoney

 

Title: Managing Member

 

 

 

 

 

 

 

For and on behalf of:

 

 

 

HOLDER – MOMONA CAPITAL

 

                     /s/

 

Signature:   [ex109002.gif] [ex109002.gif]

 

Name:                                         

 

Title:                                             

 

 

 

 

 

 

 

For and on behalf of:

 

 

 

JAYHAWK ENERGY, INC.

 

                     /s/ Kelly J. Stopher

 

Siganture:                                                            

 

Name:         Kelly J. Stopher                        

 

Title:     Interim President/CEO      

 

 

 

 

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INDEX

Document No.

Exhibit Title

Description of Document

(1)

Ex. 1-A

12/11/2009 Momona Convertible Debenture Assignment

(2)

Ex. 1-B

12/11/2009 Momona Convertible Debenture

(3)

Ex. 2-A

12/30/2009 Momona Convertible Debenture Assignment

(4)

Ex. 2-B

12/30/2009 Momona Convertible Debenture

(5)

Ex. 3-A

04/22/2010 Momona Convertible Debenture Assignment

(6)

Ex. 3-B

04/22/2010 Momona Convertible Debenture

(7)

Ex. 4-A

10/18/2010 Momona Convertible Debenture Assignment

(8)

Ex. 4-B

10/18/2010 Momona Convertible Debenture

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EXHIBIT 1-A

12/11/2009 Momona Convertible Debenture Assignment

ASSIGNMENT OF CONVERTIBLE DEBENTURE

FOR VALUE RECEIVED, the undersigned hereby grants, assigns, and transfers to
VAST EXPLORATION LLC, a Texas limited liability company (“Assignee”), that
certain Convertible Debenture (the “12/11/2009 Momona Convertible Debenture”)
dated December 11, 2009 in the amount of $16,667 executed by JayHawk Energy,
Inc.

The “12/11/2009 Momona Convertible Debenture” is attached hereto as Exhibit 1-B.

TOGETHER with the Convertible Debenture therein described or referred to, the
money due and to become due thereon with interest, and all rights accrued or to
accrue under said Convertible Debenture.

THIS ASSIGNMENT IS BEING MADE PURSUANT TO THE TERMS OF A CONVERTIBLE DEBENTURE
TRANSFER AGREEMENT OF EVEN DATE HEREWITH BETWEEN ASSIGNOR AND ASSIGNEE (the
“AGREEMENT”) AND IS SUBJECT TO ALL OF THE PROVISIONS THE AGREEMENT.

Dated this 17th day of March, 2015.

MOMONA CAPITAL

“ASSIGNOR”:

 

Signature:      /s/[ex109004.gif] [ex109004.gif]   

 

Name:    [illegible]                                                   

 

Title:       Pres                                                  

STATE OF_______________________

COUNTY OF_____________________

On ______________________2015, before me, ____________________________________,
personally appeared______________________________________________________, who
proved to me on the basis of satisfactory evidence to the be the person(s) whose
name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and
that by his/her/their signature(s) on the instrument the person(s), or the
entity on behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of
________________________that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature: _____________________________ (OFFICIAL SEAL)

                        Signature of Notary Public

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EXHIBIT 1-B

12/11/2009 Momona Convertible Debenture

9

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EXHIBIT 2-A

12/30/2009 Momona Convertible Debenture Assignment

ASSIGNMENT OF CONVERTIBLE DEBENTURE

FOR VALUE RECEIVED, the undersigned hereby grants, assigns, and transfers to
VAST EXPLORATION LLC, a Texas limited liability company (“Assignee”), that
certain Convertible Debenture (the “12/30/2009 Momona Convertible Debenture”)
dated December 30, 2009 in the amount of $33,333 executed by JayHawk Energy,
Inc.

The “12/30/2009 Momona Convertible Debenture” is attached hereto as Exhibit 2-B.

TOGETHER with the Convertible Debenture therein described or referred to, the
money due and to become due thereon with interest, and all rights accrued or to
accrue under said Convertible Debenture.

THIS ASSIGNMENT IS BEING MADE PURSUANT TO THE TERMS OF A CONVERTIBLE DEBENTURE
TRANSFER AGREEMENT OF EVEN DATE HEREWITH BETWEEN ASSIGNOR AND ASSIGNEE (the
“AGREEMENT”) AND IS SUBJECT TO ALL OF THE PROVISIONS THE AGREEMENT.

Dated this 17th day of March, 2015.

MOMONA CAPITAL

“ASSIGNOR”:

 

Signature:      [ex109006.gif] [ex109006.gif]          

 

Name:                                                       

 

Title:                                                         

STATE OF_______________________

COUNTY OF_____________________

On ______________________2015, before me, ____________________________________,
personally appeared______________________________________________________, who
proved to me on the basis of satisfactory evidence to the be the person(s) whose
name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and
that by his/her/their signature(s) on the instrument the person(s), or the
entity on behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of
_________________________ that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature: _____________________________ (OFFICIAL SEAL)

                        Signature of Notary Public

10

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EXHIBIT 2-B

12/30/2009 Momona Convertible Debenture

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EXHIBIT 3-A

04/22/2010 Momona Convertible Debenture Assignment

ASSIGNMENT OF CONVERTIBLE DEBENTURE

FOR VALUE RECEIVED, the undersigned hereby grants, assigns, and transfers to
VAST EXPLORATION LLC, a Texas limited liability company (“Assignee”), that
certain Convertible Debenture (the “04/22/2010 Momona Convertible Debenture”)
dated April 22, 2010 in the amount of $33,333 executed by JayHawk Energy, Inc.

The “04/22/2010 Momona Convertible Debenture” is attached hereto as Exhibit 3-B.

TOGETHER with the Convertible Debenture therein described or referred to, the
money due and to become due thereon with interest, and all rights accrued or to
accrue under said Convertible Debenture.

THIS ASSIGNMENT IS BEING MADE PURSUANT TO THE TERMS OF A CONVERTIBLE DEBENTURE
TRANSFER AGREEMENT OF EVEN DATE HEREWITH BETWEEN ASSIGNOR AND ASSIGNEE (the
“AGREEMENT”) AND IS SUBJECT TO ALL OF THE PROVISIONS THE AGREEMENT.

Dated this 17th day of March, 2015.

MOMONA CAPITAL

“ASSIGNOR”:

 

Signature:    [ex109008.gif] [ex109008.gif]        

 

Name:                                                       

 

Title:                                                         

STATE OF_______________________

COUNTY OF_____________________

On ______________________2015, before me, ____________________________________,
personally appeared______________________________________________________, who
proved to me on the basis of satisfactory evidence to the be the person(s) whose
name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and
that by his/her/their signature(s) on the instrument the person(s), or the
entity on behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of
_________________________that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature: _____________________________ (OFFICIAL SEAL)

                        Signature of Notary Public

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EXHIBIT 3-B

04/22/2010 Momona Convertible Debenture

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EXHIBIT 4-A

10/18/2010 Momona Convertible Debenture Assignment

ASSIGNMENT OF CONVERTIBLE DEBENTURE

FOR VALUE RECEIVED, the undersigned hereby grants, assigns, and transfers to
VAST EXPLORATION LLC, a Texas limited liability company (“Assignee”), that
certain Convertible Debenture (the “10/18/2010 Momona Convertible Debenture”)
dated October 18, 2010 in the amount of $113,333 executed by JayHawk Energy,
Inc.

The “10/18/2010 Momona Convertible Debenture” is attached hereto as Exhibit 4-B.

TOGETHER with the Convertible Debenture therein described or referred to, the
money due and to become due thereon with interest, and all rights accrued or to
accrue under said Convertible Debenture.

THIS ASSIGNMENT IS BEING MADE PURSUANT TO THE TERMS OF A CONVERTIBLE DEBENTURE
TRANSFER AGREEMENT OF EVEN DATE HEREWITH BETWEEN ASSIGNOR AND ASSIGNEE (the
“AGREEMENT”) AND IS SUBJECT TO ALL OF THE PROVISIONS THE AGREEMENT.

Dated this 17th day of March, 2015.

MOMONA CAPITAL

“ASSIGNOR”:

 

Signature:     [ex109010.gif] [ex109010.gif]           

 

Name:                                                       

 

Title:                                                         

STATE OF_______________________

COUNTY OF_____________________

On ______________________2015, before me, ____________________________________,
personally appeared______________________________________________________, who
proved to me on the basis of satisfactory evidence to the be the person(s) whose
name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and
that by his/her/their signature(s) on the instrument the person(s), or the
entity on behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of
________________________that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature: _____________________________ (OFFICIAL SEAL)

                        Signature of Notary Public

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EXHIBIT 4-B

10/18/2010 Momona Convertible Debenture

 

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EXHIBIT X

$23,900 Momona Promissory Note

PROMISSORY NOTE

Borrower:

Vast Exploration, LLC

Lender:

Momona Capital

a Texas limited liability company

510 Madison Ave

10119 W. Lariat

New York, NY 10022

Peoria, AZ 85383

  

Date of Note: March 17, 2015

Interest Rate: 5.0% per year

PROMISE TO PAY. Vast Exploration, LLC ("Borrower") promises to pay to Momona
Capital ("Lender"), without set off or counterclaim, in lawful money of the
United States of America, the principal amount of Twenty Three Thousand Nine
Hundred Dollars ($23,900), together with interest at the rate of Five Percent
(5.0%) on the unpaid outstanding principal balance of this Note. Interest shall
accrue and compound upon the unpaid balance of this Note using an Actual/360
days counting method.

PAYMENT.  Buyer shall make quarterly interest only payments for two (2) years
after the execution of this Note. The first interest only payment shall be due
three (3) months after the execution of this Note and subsequent quarterly
interest only payments shall be due on the same day of the subject month
thereafter. Said interest only payments shall be calculated by applying an
interest rate of Five Percent (5%) to the unpaid principal balance of this Note,
using an Actual/360 days accounting method. The aforesaid interest only payments
shall cause Borrower to pay all accrued interest, in arrears, quarterly for two
(2) years after the execution of this Note. On the two (2) year anniversary of
this Note the remaining principal balance together with accrued and unpaid
interest and any other amounts owing under this Note shall be due and payable.

MAXIMUM INTEREST AMOUNT. Any amount assessed or collected as interest under the
terms of this Note will be limited to the maximum amount of interest allowed by
state or federal law, whichever is greater. Amounts collected in excess of the
maximum lawful amount will be applied first to the unpaid principal balance of
the Note and any remainder will be refunded to Borrower.

PREPAYMENT.  There shall be no prepayment penalty for the early payment of all
or part of this Note.

LATE CHARGE.  If a payment is ten (10) days or more late, Borrower will be
charged $5.00 as a late fee. This fee shall be imposed each month during which a
payment is ten (10) days or more late, and said fee shall be promptly paid by
Borrower in addition to the full regularly scheduled monthly payment for said
month. Any unpaid late charges will be added to the unpaid balance of this Note
and interest shall accrue and compound thereon.

DEFAULT.  Each of the following shall constitute an event of default ("Event of
Default") under this Note:

Payment Defaults.  Borrower fails to make any payment when due under this Note.

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OPPORTUNITY TO CURE.  Upon default, Borrower shall be entitled to notice and an
opportunity to cure before Lender may declare Borrower in default. If Borrower
defaults upon this Note, Lender shall deliver written notice to Borrower by
certified mail return receipt requested to Borrower at the address shown above,
notifying Borrower of such default and the reasonable particulars of such
default. Borrower shall have thirty (30) days after receiving such written
notice to either cure the default or to dispute that an actual material default
exists.

GOVERNING LAW.  This Note will be governed by, construed and enforced in
accordance with federal law and the laws of the State of Kansas.  This Note has
been accepted by Lender in the State of Kansas.

CHOICE OF VENUE.  If there is a lawsuit, Borrower agrees upon Lender's request
to submit to the jurisdiction of the courts of Miami County, State of Kansas.

DISHONORED ITEM FEE.  Borrower will pay a fee to Lender of $5.00 if Borrower
makes a payment on Borrower's loan and the check or preauthorized charge with
which Borrower pays is later dishonored.

SUCCESSOR INTERESTS.  The terms of this Note shall be binding upon Borrower and
shall inure to the benefit of Lender and its successors and assigns.

Borrower's Initials

NO ORAL AGREEMENTS.  This written agreement is the final expression of the
agreement between Lender and Borrower and may not be contradicted by evidence of
any prior oral agreement or of a contemporaneous oral agreement between Lender
and Borrower.

By initialing the boxes to the left, Lender and Borrower affirm that no
unwritten oral agreement exists between them.

Lender's Initials

PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF
THIS NOTE.  BORROWER AGREES TO THE TERMS OF THE NOTE.

BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE.

BORROWER:

VAST EXPLORATION, LLC:

/s/ Scott Mahoney          4/17/15

_____________________________________

Scott Mahoney, Managing Member

LENDER:

MOMONA CAPITAL

       /s/[ex109012.gif] [ex109012.gif]

_____________________________________

By: ______________________

Title:_____________________

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