LEASE
DEPOSIT AGREEMENT


 


 


PROJECT
NAME:Ryan Lease


 


CLINTON
COUNTY, KENTUCKY


 


THIS
Lease Deposit Agreement is made and entered into on this 25th day of June 2015, by and between the undersigned, Supernova
Energy, hereinafter referred to as “BUYER”, and OMR Drilling and Acquisition LLC, a Kentucky corporation, whose address
is 5405 S. Highway 127, Albany, Kentucky, hereinafter referred to as “OMR DRILLING”.


  


WITNESSETH


 





WHEREAS,
OMR DRILLING has negotiated to purchase a certain Oil, Gas and Mineral Lease (the “Lease”)
in and to lands situated in the county noted hereinabove in an area known to the parties hereto by the project name noted hereinabove;
and,


 


WHEREAS,
BUYER desires to place a 30 day deposit to place a HOLD on said lease.


 


NOW,
THEREFORE, in consideration of the premises, the parties hereto do hereby agree and stipulate as follows, to-wit:


 


		1.	BUYER
                                         agrees to pay to OMR DRILLING the amount of $5,000 in order to place a 30 day deposit
                                         to place a HOLD on said lease in an attempt to purchase said lease at a price of $140,000
                                         within 30 days. This $5,000 payment shall be deducted from the final purchase price of
                                         the lease. Leaving a balance of $135,000 to be paid within 30 days. If the sale has not
                                         been completed prior to the end of the 30th day the $5,000 paid for the deposit
                                         shall be forfeited.



 


		2.	This
                                         Deposit is transferrable.



 


		3.	BUYER
                                         agrees and accepts the conditions of this Agreement and further acknowledges that the
                                         oil and gas business is inherently risky and that all or part of any investment on this
                                         project may be lost. With this in mind, OMR DRILLING makes no representation or guarantee
                                         regarding any amount of possible oil or gas production or the numerous risks in connection
                                         with an investment in this project. BUYER further states that it can withstand the total
                                         loss of investment without causing a change in lifestyle.



 


		4.	This
                                         Agreement embodies the entire agreement between the parties hereto, and supersedes any
                                         and all prior negotiations or agreements in regard thereto. No alteration or extensions
                                         of this Agreement shall be binding unless in writing and signed by the parties hereto.



 


		5.	The
                                         parties hereto acknowledge that they have read the above and foregoing Agreement thoroughly,
                                         that there has been adequate opportunity to consult legal counsel concerning this Agreement
                                         and that they have executed the same freely and voluntarily on the date hereof.



 


 


IN
WITNESS WHEREOF, this Agreement has been agreed to and signed by each of the parties hereto, as of the day first above written.


 





	 	Supernova Energy
	 	 
	 	By:	/s/ Kevin Malone
	 	 	Kevin Malone



 


 


		OMR Drilling and Acquisition, LLC
	 	 
	 	By:	/s/ Nicholas A. Upchurch
	 	 	NICHOLAS A. UPCHURCH

MANAGING MEMBER