before me on this _____ day of _____________,
2015, by ___________ the ____________ of __________________________.
Witness my hand and official seal.
__________________________________________
Notary Public, State of
______________________
My commission expires: _________________
EXHIBIT A
ATTACHED TO AND FORMING A PART OF THE
DEED OF TRUST, MORTGAGE, ASSIGNMENT OF PRODUCTION,
SECURITY AGREEMENT AND FINANCING STATEMENT
DATED __________________________,
2015
FROM
This Exhibit A contains specific description of the "Lands," "Leases," "Mineral
Interests"
and Wells comprising a portion of the "Mortgaged Properties", as
those terms are defined in the Deed of Trust, Mortgage, Assignment of
Production, Security Agreement and Financing Statement (the "Mortgage") to which
this Exhibit A is attached.
LANDS
The Mortgage covers all right, title and interest the Mortgagor now owns or
subsequently acquires in the following lands situated in ____________ County,
Colorado ("Lands"):
EXHIBIT "B"
FORM OF JOINT OPERATING AGREEMENT
(form of JOA to be attached)
A.A.P.L. FORM 610 - 1989
MODEL FORM OPERATING AGREEMENT
OPERATING AGREEMENT
DATED
,
,
2015
,
year
OPERATOR PETROSHARE CORP.
CONTRACT AREA
COUNTY OR PARISH OF
, STATE OF COLORADO
COPYRIGHT 1989 - ALL RIGHTS RESERVED
AMERICAN ASSOCIATION OF PETROLEUM
LANDMEN, 4100 FOSSIL CREEK BLVD. FORT
WORTH, TEXAS, 76137, APPROVED FORM.
A.A.P.L. NO. 610 - 1989
A.A.P.I. FORM 610 - MODEL FORM OPERATING AREEMENT - 1989
TABLE OF CONTENTS
Article
Page
I.
DEFINITIONS
1
II.
EXHIBITS
1
III.
INTERESTS OF
PARTIES
2
A.
OIL AND GAS INTERESTS:
2
B.
INTERESTS OF PARTIES IN
COSTS AND PRODUCTION
2
C.
SUBSEQUENTLY CREATED INTERESTS:
2
IV.
TITLES
2
A.
TITLE EXAMINATION
2
B.
LOSS OR FAILURE OF TITLE
3
1.
Failure of Title
3
2.
Loss by Non-Payment or Erroneous Payment of Amount
Due
3
3.
Other Losses
3
4.
Curing Title
3
V.
OPERATOR
4
A.
DESIGNATION AND RESPONSIBILITIES OF OPERATOR
4
B.
RESIGNATION OR REMOVAL
OF OPERATOR AND SELECTION OF SUCCESSOR
4
1.
Resignation or Removal of
Operator
4
2.
Selection of Successor Operator
4
3.
Effect of
Bankruptcy
4
C.
EMPLOYEES AND CONTRACTORS
4
D.
RIGHTS AND DUTIES OF
OPERATOR:
4
1.
Competitive Rates and Use of Affiliates
4
2.
Discharge of Joint Account Obligations
4
3.
Protection from Liens
4
4.
Custody of Funds
5
5.
Access to Contract Area and Records
5
6.
Filing and Furnishing Governmental Reports
5
7.
Drilling and Testing
Operations
5
8.
Cost Estimates
5
9.
Insurance
5
VI.
DRILLING AND
DEVELOPMENT
5
A.
INITIAL WELL
5
B.
SUBSEQUENT OPERATIONS:
5
1.
Proposed Operations
5
2.
Operations by Less Than All Parties
6
3.
Stand-By Costs
7
4.
Deepening
8
5.
Sidetracking
8
6.
Order of
Preference of Operations
8
7.
Conformity to Spacing Pattern
9
8.
Paying Wells
9
C.
COMPLETION OF WELLS; REWORKING AND PLUGGING BACK
9
1.
Completion
9
2.
Rework, Recomplete or Plug Back
9
D.
OTHER
OPERATIONS
9
E.
ABANDONMENT OF WELLS
9
1.
Abandonment of Dry Holes
9
2.
Abandonment of Wells That Have Produced
10
3.
Abandonment of
Non-Consent Operations
10
F.
TERMINATION OF OPERATIONS
10
G.
TAKING