f8k0712ex10xi_stratex.htm


Exhibit 10.11


 


ASSIGNMENT OF OVERRIDING ROYALTY INTEREST


 




	
STATE:

	
KANSAS

	 
	
COUNTY:

	
LANE

	 
	
ASSIGNOR:

	
PINECONE PETROLEUM

	 
	 	
1421 S. Steele

	 
	 	
Denver, CO 80210

	 
	 	 	 
	
ASSIGNEES:

	
Stratex Oil and Gas, Inc.

	
Meir Cohen


	 	
30 Echo Lake Road

	
675 Third Avenue, Suite 2400


	 	
Watertown, CT 06795

	
New York, NY 10017


	 	 	 
	 	
Rotary Partners

	
Lynden Capital


	 	
196 Fern Avenue

	
57 Gramercy Avenue


	 	
Litchfield, CT 06759

	
Rye, NY 10580









 


Assignor, named above, owns an overriding royalty interest in the oil, gas and mineral leases (the "Leases") which covers the lands located in the counties and state named above (the "Lands"). The Leases and Lands are described on Exhibit "A" in the Assignment.


 


See Exhibit "A" attached hereto and made a part hereof.


 


For adequate consideration, Assignor (PIN ECONE PETROLEUM) transfers, grants, assigns and conveys to Assignees overriding royalty interests, as described below, in the Leases and all of the oil, gas and other minerals produced, saved and marketed from the Leases. (See Assignees interest conveyed below)


 


PINECONE PETROLEUM, assigns overriding royalty interests in said attached Leases as follows:


 


50% to Meir Cohen


675 Third Avenue, Suite 2400 


New York, NY 10017


 



48% to Stratex Oil and Gas, Inc. 


30 Echo Lake Road




Watertown, CT 06795


 


1% to Rotary Partners


196 Fern Avenue


Litchfield, CT 06759


 


1% to Lynden Capital


57 Gramercy Avenue 


Rye, NY 10580


 




  





  











  






 


This Assignment of overriding royalty interest is made without warranty of title, express or implied.


 


If Assignor's interest in the attached oil and gas leases, lands or unit is less than the entire interest, or if said oil and gas leases cover less than the entire fee title, then the overriding royalty shall be reduced proportionately.


 


To have and to hold the interest herein transferred and assigned unto Assignees, its successors and assigns, forever, subject only the terms and provisions provided, herein.


 


This Assignment is effective January 1, 2012  


 


Executed this 3rd day of January, 2012


 



	
ASSIGNOR


 




/s/ Christopher Miller





	 






	
Christopher Miller








	
As President of PINECONE ETROLEUM.







 


STATE OF COLORADO      )                                                                 ACKNOWLEDGMENT (For use by Corporation)


 


COUNTY OF DENVER      )


 


On this 3rd day of January, A.D. 2012, before me personally appeared , Christopher Miller                                                                                                   ,to me personally known, who. beingbx me duly sworn, did say that he/she is the President                                                               of Pinecone Petroleum                                                          and that the seal affixed to said instrument is the corporate seal of said corporation and that said instrument was signed and sealed in behalf of said corporation by authority of its Board of Directors, and said                                                                                                         acknowledged said instrument to be free act and deed of said


 



Witness my hand and seal this 3rd day of January, A.D. 2012






 




	 	Mackenzi Danielson	 	 
	 	Notary Public,	 	 





 



	 	Address:	 	 	 
	 	 	 
	 	 	 
	 	 







 




  





  











  










 


Attached to and made part of that certain ASSIGNMENT OF OVERRIDING ROYALTY INTEREST dated January 3, 2012 and made effective January 1, 2012


 


EXHIBIT 'A'



 



	LESSOR	LESSEE	DESCRIPTION 	BK/PG
	 	 	 	 
	Ronald E. and 	Proterra Oil and 	T18S-R3OW	117/177
	Neoma G. Conner,	Gas Exploration, Inc. 	Section 27: SW/4	 
	h/w 	 	Section 34: NE/4	 
	 	 	 	 
	Howard and Carolyn 	Centennial Oil and 	T16S-R28W	116/153
	Lawrence, h/w 	Gas 	Section 23: S/2N/2, S/2	 
	 	 	 	 
	
Dane G. Hansen 

	Proterra Oil and	
T18S-R3OW 

	
117/298


	
Foundation

	Gas Exploration Inc.	Section 28: SW/4	 
	 	 	 	 
	Dane G. Hansen	Proterra Oil and	
T18S-R3OW 

	
117/299


	
Foundation

	Gas Exploration Inc.	Section 28: NW/4	 





 




It is the intent of the Assignor to convey all Right Title and Interest in the above oil and gas leases including wellbore production in the Munsell Lawrence 21-23, Lawrence 21-23 and Conner 14-27 and Carpienter Conner 43-28 .