Document:

Exhibit
10.2

 

AGREEMENT
AND ASSIGNMENT OF OIL, GAS AND MINERAL LEASE

 

STATE
OF LOUISIANA

 

PARISH
OF AVOYELLES

 

KNOW
ALL MEN BY THESE PRESENTS, that for and in consideration of the sum of Ten and No/100 ($10.00) Dollars and other good and valuable
considerations, the receipt and sufficiency of which is hereby acknowledged and full acquittance granted therefor,

 

PERSONALLY
CAME AND APPEARED:

 

GEOTERRE
OPERATING, LLC “Assignee”, a Louisiana Limited Liability Company, represented herein by its duly authorized Manager,
Roland F. Dugas, III, whose mailing address is Post Office Box 80016, Baton Rouge, Louisiana 70898; (TAX ID# XX-XXX-6760),
as “ASSIGNEE,”

 

which
has bargained, sold, transferred, assigned, set over and delivered and does by these presents BARGAIN, SELL, TRANSFER, ASSIGN,
SET OVER and DELIVER unto

 

WHITE
RIVER SPV 3, LLC., “Assignee”, a Texas Corporation, represented herein by its duly authorized CFO and Manager,
Jason “Jay” Puchir, whose mailing address is 5899 Preston Road, Suite 505 Frisco, Texas 75034, Frisco, Texas
75034; (TAX ID# XX-XXX-2193), as “ASSIGNEE,”

 

the
following described oil, gas and mineral leases, to-wit:

 

That certain Oil, Gas and
Mineral Lease in Avoyelles Parish by and Between DESHOTELS PLANTATION, LLC and GEOTERRE OPERATING, LLC, dated August 24,
2020 but effective December 1, 2020 containing 457.45 acres; also described in that certain Memorandum of Oil, Gas and Mineral
lease, dated August 24, 2020, but effective December 1, 2020, containing 457.45 acres described and attached hereto as Exhibit
“A”.

 

Assignor
agrees to assign 100% or 100% of 8/8ths right, title and interest of Assignor in and to the Oil, Gas and Mineral Lease described
above, to Assignee, its successors or assigns, for the purpose of investigation, exploration and production of minerals from the
above described lease.

 

TO
HAVE AND TO HOLD the said interests above assigned unto the said Assignee,

 

Assignor
and Assignee agree to the following terms and conditions of the aforementioned assignment as well as any additional acreage contemplated
in this agreement:

 

		1.	This
act of assignment shall be effective as of October 1, 2020.

 

		2.	Assignee,
its successors and assigns, agree to indemnify and hold Assignor, its successors and assigns, harmless from and against
any and all liability or responsibility for injury to (including death of) persons or damage to property assigned herein, or third
persons of any kind arising out of or in connection with the operations of Assignee on the leased premises.

 

		3.	Assignee,
its successors and assigns, agree to fund and be responsible for the compliance of all State of Louisiana Department of Conservation
rules and regulations associated with the Assignee’s operations on the leased premises, including but not necessarily limited
to Plugging and Abandonment of any well(s).

 

		4.	Assignor,
its successors and assigns, agree to assign a 100% working interest (75% net revenue interest) to Assignee.

 

Assignor
agrees to assign 100% right, title and interest of Assignor in and to the Oil, Gas and Mineral lease described above. Assignee,
its successors or assigns, shall have the right of use of the leased premises for the purpose of investigation, exploration and
production of minerals from the above described horizon.

 

     

     

    

 

This
Agreement shall be governed by and construed in accordance with the Laws of the State of Louisiana with original venue
and jurisdiction in the State Court of Louisiana, Avoyelles Parish, and may he amended only in writing by the parties hereto.

 

THUS
DONE AND PASSED by Assignor before me, a Notary Public duly

 

Commissioned and qualified
in and for the Parish of E. Baton Rouge, State of Louisiana, and in the presence of the undersigned competent witnesses
on this 12th day of October, 2020.

 

	WITNESSES:	 	ASSIGNOR:
	 	 	 
	 	 	GOETERRE
    OPERATING, L.L.C
	 	 	 
	/s/
    Jessica Oropesa	 	/s/
    Roland F. Dugas, III
	Printed Name:  Jessica Oropesa	 	BY:
    ROLAND F. DUGAS, III, Manager
	 	 	 
	/s/ McCall Taylor	 	 
	Printed Name: McCall Taylor	 	 

 

/s/
Marilyn Summers

NOTARY
PUBLIC

 

Printed
Name: Marilyn Summers

Notary/Bar
Roll No: 64784

 

LIFETIME
COMMISSION

 

*****************************************************************************************************

 

THUS
DONE AND PASSED by Assignor before me, a Notary Public duly

 

Commissioned and qualified
in and for the Parish/County of Collin, State of Texas, and in the presence of the undersigned competent witnesses on this13th
day of September, 2020.

 

	WITNESS	 	ASSIGNEE
	 	 	 
	 	 	WHITE RIVER SPV
    3, L.L.C.
	/s/ Jake Helgeson	 	 
	Printed Name:
    Jake Helgeson	 	 
	 	 	 
	 	 	/s/ Jason Puchir
	 	 	By: JASON “JAY”
    PUCHIR, CFO & Manager
	 	 	 
	/s/ Trevor Parrish	 	 
	Printed Name: Trevor Parrish	 	 

 

/s/
Jake Helgeson

NOTARY
PUBLIC

 

Printed
Name: Jake Helgeson

Notary/Bar
Roll No: 131225164

 

    Page 2

     

    

 

EXHIBIT
“A”

 

STATE
OF LOUISIANA

 

PARISH
OF AVOYELLES

 

MEMORANDUM
OF OIL, GAS AND MINERAL LEASE

 

Notice is hereby given
that as of December 1, 2020 (the “Effective Date”), an Oil, Gas and Mineral Lease the “Lease”) was made and
entered into by and between DESHOTELS PLANTATION, LLC, a Louisiana limited liability company, represented herein by its
Manager DANNY DESHOTELS, whose address is 18567 Highway 15, Lettsworth, LA (hereinafter referred to as “Lessor”), and
GEOTERRE OPERATING, L.L.C. (TAX ID# XX-XXX-6760), a Louisiana Limited Liability Company. represented herein by its duly
authorized Manager, ROLAND F. DUGAS, III, whose mailing address is Post Office Box 80016, Baton Rouge, Louisiana 70398-0016 (hereinafter
referred to as “Lessee”), wherein Lessor granted, leased and let unto Lessee the exclusive right to explore for and produce
oil, gas, condensate and other hydrocarbons and by-products produced with or contained in any of the foregoing, together with the
use of the surface of the land for all purposes incident thereto to the extent permitted by the Lease, and to own, possess, treat,
process, store and transport the minerals produced from or attributable to the following described land, containing 457.45
acres, more or less, in Avoyelles Parish, Louisiana, and more particularly described in Exhibit “A”, which
is attached hereto and hereby made a part hereof.

 

The
Lease provides for an initial term of four (4) years and zero (0) months commencing on the Effective Date, (the “Primary
Term”), and as long thereafter as oil and gas or either of them is produced in paying quantities from said land or acreage
pooled therewith. The Lease provides that at and after the end of the Primary Term, unit operations or production shall maintain
the Lease in effect only as to the land included in the unit and then only as to certain depths, all as is more particularly prescribed
therein. Except for the right to extend the term of the Lease by the payment of delay rentals, the Lease does not contain an option,
right of first refusal or other agreement of the lessor to transfer all or any part of the leased premises. The Lease contains
such other provisions with respect to the conduct of operations, payment of royalties, offset provisions, partial releases, notice
and other such terms and conditions as are usual and customary in the industry.

 

The
purpose of this Memorandum is to apprise and give notice to all parties of the existence of the Lease in accordance with R.S.
9:2742 and is not intended in any way to modify, amend or supplement the terms and provisions of the Lease. Both Lessor and Lessee
have possession of a fully executed original of the Lease, which is open for examination and investigation by any party of interest
during reasonable business hours in the offices of Lessee.

 

This
Memorandum and all of its terms, conditions, covenants and provisions as well as those of the Lease shall extend to and be binding
upon the successors and assigns of Lessor and Lessee.

 

This
Memorandum may be executed in multiple counterparts, each of which shall be deemed an original and shall be binding upon the parties
executing same whether or not executed by all parties hereto. Lessor and Lessee hereby agree that the counterpart signature and
acknowledgment pages of this Memorandum may be detached and attached to one identical counterpart for the purposes of recordation,
which instrument as so constructed shall constitute an original instrument as if executed by all the parties hereto.

 

IN
WITNESS WHEREOF, this instrument is executed as of the date first above written.

 

	WITNESS:	 	LESSOR:
	 	 	 
	/s/ Becky Sellers	 	/s/ Danny Deshotels
	Printed Name: Becky
    Sellers	 	DESHOTELS PLANTATION, LLC, by
	 	 	DANNY DESHOTELS, MANAGER
	 	 	 
	/s/ Shauntelle Adams	 	 
	Printed Name: Shauntelle Adams	 	 

 

    Page 3

     

    

 

ACKNOWLEDGMENT

 

STATE
OF LOUISIANA

PARISH
OF AVOYELLES

 

On this 24 day of August, 2020, before
me appeared DANNY DESHOTELS to me personally known, who, being by me duly sworn, did say that he is duly authorized manager
of DESHOTELS PLANTATION, LLC AND that he signed the above and foregoing Oil, Gas and Mineral Lease on behalf of said company as
its free act and deed.

 

	/s/ Britni G. Lacour	 
	Notary Public	 
	Printed Name: Britni G. Lacour	 
	Bar Roll / Notary License No. 65263	 
	My Commission expires: Commissioned for Life	 

 

WITNESS
WHEREOF, this instrument is executed as of the date first above written.

 

	WITNESSES:	 	LESSEE:
	 	 	 
	/s/ Becky Sellers	 	GEOTERRE OPERATING, L.L.C
	Printed Name: Becky Sellers	 	 
	 	 	 
	/s/ Shauntelle Adams	 	By:	 /s/ Roland F. Dugas, III
	Printed Name: Shauntelle Adams	 	Print Name: ROLAND F. DUGAS, III
	 	 	Title: MANAGER

 

ACKNOWLEDGMENT

 

STATE
OF LOUISIANA

 

PARISH
OF AVOYELLES

 

On
this 24 day of August 2020, before me, the undersigned Notary Public in and for the Parish and State of aforesaid,
appeared Roland F. Dugas, Ill, to me personally known, who being by me duly sworn did say that he is the Manager of Geoterre Operating,
LLC and that the above and foregoing Memorandum of Oil, Gas and Mineral Lease was signed on behalf of said company as its free
and voluntary act and deed for the uses and purposes therein set forth.

 

	 	/s/ Britni G.
    Lacour
	 	Notary Public
	 	 
	 	Printed
    Name: Britni G. Lacour
	 	Bar
    Roll / Notary License No. 65263
	 	My
    Commission expires: Commissioned for Life

 

    Page 4

     

    

 

EXHIBIT
“A”

 

ATTACHED TO AND MADE A PART OF THAT CERTAIN
MEMORANDUM OF OIL, GAS AND MINERAL LEASE, DATED DECEMBER 1, 2020, BY AND BETWEEN DESHOTELS PLANTATION, LLC, AS LESSOR, AND
GEOTERRE OPERATING, LLC AS LESSEE.

 

PROPERTY
DESCRIPTION

 

A certain tract or parcel of land, containing
457.45 acres, more or less, forming portions of Sections 11 and 14 Township 2 South, Range 5 East, Avoyelles Parish,
Louisiana, and Ward 4, St. Landry Parish, Louisiana, and more particularly described as follows:

 

The tract described in Conveyance Book
A459, Folio 419, recorded June 17, 2005, in the records Avoyelles Parish Clerk of Court, LESS AND EXCEPT: That portion of the tract
lying within the boundary of AUS RA SU AA Deshotels Plantation et al 13-H # 1, prepared by Virgil T. Collins, RLS dated April 7,
2011 and described as the AUS RA SU AA Deshotels Plantation et al 13-H # 1 unit.

 

 

Page 5Exhibit
10.3

 

PARTICIPATION
AGREEMENT

 

GeoTerre,
LLC (“G”), Ecoark Holdings, Inc. (“E”), BlackBrush Oil & Gas, L.P. (“BBOG”), and White
River SPV 3 LLC (“WR”) (collectively the “Parties”, and each individually a “Party”) enter
into this Participation Agreement effective at noon central time on October 9, 2020. The Participation Agreement (the “PA”)
replaces and supersedes the Letter of Intent between all of the Parties except WR dated August 25, 2020 (“the LOI”).

 

WHEREAS,
on or before September 4, 2020, E purchased from G the “New Deshotels Lease #1” (attached as part of Exhibit
B), for approximately $1.5 million, a portion of which is located within the AUS RA SU DD unit (attached as part of Exhibit E).

 

A.
Initial Provisions

 

1.
Escrow and other issues. E/WR and G have entered into an “Escrow Agreement” (being the letter agreement
dated September 4, 2020 attached as Exhibit D which binds the parties thereto and to which the Parties hereto agree to be bound)
setting up the “Escrow Account” (being “the Account” described and defined in the September
4, 2020 letter agreement). The Escrow Agreement provides for the conditions for, and shall govern and control, the release
of funds from the Escrow Account. On or before 5:00 p.m. central time on December 1, 2020, E/WR shall fund the Escrow Account
with the “Estimated Initial Well Costs” defined below in Section B(3).

 

On
or before 5:00 p.m. on October 9, 2020, E will purchase from G the “New Deshotels Lease #2” (attached as part of
Exhibit B), for an amount not to exceed $700,000. The New Deshotels Lease #1 and New Deshotels Lease #2 have been assigned
to WR.

 

E,
WR, and G shall be solely responsible and liable for the payment of any “Liquidated Damages” required under the New
Deshotels Lease #1 or New Deshotels Lease #2 (as defined in those leases). BBOG shall not be responsible or liable for
any such Liquidated Damages under the New Deshotels Lease #1 or New Deshotels Lease #2. This obligation shall survive termination
of this PA.

 

E,
WR, AND G SHALL DEFEND AND INDEMNIFY BBOG FROM AND AGAINST ANY CLAIMS FOR ANY SUCH LIQUIDATED DAMAGES ARISING UNDER THE NEW DESHOTELS
LEASE #1 OR NEW DESHOTELS LEASE #2. THIS INDEMNITY OBLIGATION SHALL SURVIVE TERMINATION OF THIS PA. 

 

E,
WR, and G shall be solely responsible and liable for paying any lease bonuses payable pursuant to the New Deshotels Lease #1 and
New Deshotels Lease #2 that are due and payable during calendar year 2020; any such lease bonuses shall be split between
E, WR and G as agreed to by them. BBOG shall not be responsible or liable for paying any such bonuses that are due in 2020.

 

     

     

    

 

2.
Certain Conditions. The LOI and the transactions contemplated thereby were or are subject to certain conditions:

 

		a.	Documentation.
E, WR, and G have negotiated and executed the Escrow Agreement and other appropriate documentation;

 

		b.	Approvals.
Approval by the respective boards of E and BBOG and by BBOG’s general partner have been obtained;

 

		c.	Escrow.
E/WR will timely deposit the Estimated Initial Wells Costs into the Escrow Account on or before December 1, 2020 (this is now
an obligation of E/WR); and

 

		d.	BBOG
successfully obtained a release of all liens, mortgages, and deeds of trusts, if any, covering any interest that this PA would
or could require BBOG to assign to E, WR, or G.

 

B.
Additional Provisions 

 

1.
Term and Termination. The period after the Parties have executed this PA before its termination as set forth below is the
“Term” of this PA. This PA shall terminate unless otherwise agreed by the Parties upon occurrence of any of the following:

 

		a.	Mutual
consent of the Parties;

 

		b.	E/WR
not funding the Escrow Account in full in accordance with Paragraph A(2)(c) above;

 

		c.	Termination
of the Joint Operating Agreement dated September 4, 2020 entered into by G, WR, and BBOG (“the JOA”) for any
reason; or

 

		d.	E/WR
not commencing actual drilling of the Initial Well on or before January 30, 2021, unless delayed by governmental or other regulatory
agency, or applicable law, rule or regulation,, or failing to diligently prosecute drilling of the first 2,500 feet of the lateral
length in such well.

 

In
the event of a conflict between the JOA and this PA, the terms of the JOA shall govern; provided, however, that the Parties affirm
that Paragraphs B (3-5) of the August 25, 2020 LOI and of this PA are incorporated into the JOA.

 

Upon
termination of this PA, except as set forth in this PA or in the JOA, neither Party shall thereafter have any further rights or
claims against, or obligations to, the other Parties under or by virtue of this PA. Nevertheless, upon termination of this PA,
E/WR, G, and BBOG shall maintain all of their then existing ownership rights in the New Deshotels Lease #1 or New Deshotels Lease
#2 leases.

 

    2

     

    

 

2.
Lumina Agreement. BBOG may continue to pursue and participate in a prospective transaction(s) under “the Lumina
Agreement” which was disclosed to G at the meeting with BBOG in San Antonio on July 15, 2020. As to the three “Producing
Units” listed below (as more particularly described and depicted on Exhibits A and/or B; the “Producing Units”,
subject to certain conditions, Lumina Geophysical and Star of Texas will have the right until December 31, 2022 to drill and complete
prospects that are stratigraphically above the Austin Chalk formation under the Lumina Agreement once finalized. G/E/WR shall
have no interest in any wells drilled pursuant to the Lumina Agreement on the Producing Units. E/G/WR shall not be entitled to
any interest in any well drilled under the Lumina Agreement.

 

E/G/WR
under this agreement will be allowed to have access to the updated processing data over the Producing Units and south of the Producing
Units, plus a half mile halo around those lands if such halo exists, at no cost other than normal charges to provide the digital
data, when the processing is completed. E/G/WR will not have any rights to transfer this new updated processed data to any other
third parties. The Producing Units are the AUS RA SU AA, AUS RA SU CC, and AUS RA SU GG more particularly described and depicted
on Exhibits A and/or B. BBOG shall have the obligation to respond to reasonable questions from E/G/WR related to the aforementioned
seismic data.

 

3.
E/WR will fund 100% of the cost associated with the drilling and completion of an “Initial Well” (the “Initial
Well Costs”) on the prospect from an existing well pad. AFE costs are estimated to be $4.7 million “the Estimated
Initial Well Costs”.

 

A
balance equal to but not to exceed $4.7 million (less Estimated Initial Well Costs funded by E/WR before December 1, 2020) will
be due and payable by E/WR into the Escrow Account on or before December 1, 2020.

 

E
or WR will drill the Initial Well to a bottom hole location in the unit designated AUS RA SU DD to be named the Deshotels 24-H
#1. After E/WR:

 

		(a)	so
funds the drilling and completion costs of such Initial Well (by timely depositing same in the Escrow Account subject to release
of funds only upon the terms of the Escrow Agreement and by paying the remaining Initial Well costs if any);

 

		(b)	drills
such Initial Well to total depth, and drills a minimum of 2,500 feet of the lateral length in such Initial Well (out of an estimated
4,500 feet total lateral length); and

 

		(c)	comply
with their obligations under Sections 4 and 5 of this PA,

 

BBOG
will assign to G/E/WR an assignment of leases covering 90% of the leasehold working interest in the leases in the AUS RA SU DD
unit and a 50% of the working interest in the leases in BBOG’s AUS RA SU AA Unit both as depicted and described in Exhibits
A and/or B.

 

    3

     

    

 

The
assignment of leases in BBOG’s AUS RA SU AA Unit shall be limited to depths below the top of the Austin Chalk formation.
In the assignment, BBOG shall also retain and reserve: (a) all interests in all depths above the top of the Austin Chalk formation
in the leases in BBOG’s AUS RA SU AA Unit; (b) a 50% working interest and 50% of its net revenue interest in the producing
well(s) on the AUS RA SU AA unit and in that unit insofar as it covers that well(s) and in the leases in that unit; (c) 50% of
all rights in all acreage, all depths below the top of the Austin Chalk, all infrastructure, and all facilities located on that
unit necessary or desirable to operate, conduct operations on, and produce that well(s) and the unit; and (d) a carried 10% working
interest (and a 7.5% net revenue interest) in the leases currently owned by BBOG in or to be included in the AUS RA SU DD Unit
(G/E/WR shall bear the costs of such carried interest). Any replacement, renewal, extension, top, or other lease, any lease maintained
or obtained by exercising an option, any other lease taken or maintained, and any ratification or amendment, covering any lands
or interests which BBOG currently has leased (including but not limited to those described or depicted on Exhibits A and/or B)
shall not be a New Lease but shall instead be a “Replacement Lease.”

 

4.
G has negotiated a new lease with Danny Deshotels that includes acreage outside of the current BBOG leasehold. Approximately 200
acres of this new lease is or will be included in AUS RA SU DD with the remainder outside this unit. G will assign this new lease
to E/WR. E/WR will assign to BBOG a 10% carried working interest (and a 7.5% net revenue interest) in the approximate 200 acres
of this lease that is to be included in the AUS RA SU DD unit shown on Exhibit A. As to the remaining portion of the new lease,
BBOG has the right but not the obligation to purchase from E/WR, at cost, a 10% interest in the remaining acreage that falls outside
of the AUS RA SU DD Unit. As additional consideration of this new lease, all BBOG leases described or depicted in Exhibits A and/or
B not currently held by production shall be extended by G/E/WR 60 days beyond the completion date of the Initial Well. “Completion
Date” is defined as the first date of production through the BBOG/G/E production facilities for the Initial Well. Should
the Initial Well be completed and producing, G/E/WR agree to maintain the current leasehold position of BBOG in the AMI set forth
in the JOA as affirmed herein that is not part of an existing producing unit (as depicted and described on Exhibits A and/or B)
either by timely exercising and paying for any options available when due (any lease so acquired shall be a Replacement Lease),
or, when no option rights exist or the Parties mutually agree not to exercise an option, acquiring Replacement Leases. G/E/WR
shall pay 100% of the cost to exercise such options or to acquire any such Replacement Leases, and BBOG shall not be required
to pay any part of such cost. G will have the exclusive right to purchase any New Lease within the AMI. BBOG shall have the right
but not the obligation to purchase a 10% working interest in any New Lease taken by G in the AMI. BBOG shall have 30 days beyond
the Completion Date of the initial well drilled and completed as a producer on any such New Lease to determine whether to exercise
such option on any such New Lease and to pay for it.

 

    4

     

    

 

5.
The Parties except E have entered into the JOA. The Parties affirm that the JOA includes an area of mutual interest covering the
lands depicted on Exhibit B (“the AMI”). To the extent necessary, the Parties hereby amend the JOA to include
the AMI that includes the terms of this PA. The JOA provides that G/WR shall drill and complete at least one (1) horizontal Austin
Chalk well with a minimum of 2500’ of lateral each calendar year commencing with the year 2020, and that is also an obligation
of E. The required 2020 well is the Initial Well. The JOA provides that WR is obligated to complete drilling of the lateral in
the Initial Well (estimated to be 4,500 feet) and to complete the well as a producer or a dry hole, and that is also an obligation
of E. On these and other wells drilled and completed as a producer after the Initial Well is so drilled and completed, that are
drilled from a surface location on one of BBOG’s existing Producing Units, in the assignment to E/WR/G, which as to the
Producing Units shall be limited to depths below the top of the Austin Chalk, BBOG will reserve 50% of its working interest (and
the corresponding net revenue interest) in the existing wells and leases and 50% of all rights in all acreage, all depths below
the top of the Austin Chalk formation, all infrastructure, and all facilities located on that unit necessary or desirable to operate,
conduct operations on, and produce that well(s) and the unit leases attributed to and in the Producing Unit on which the surface
location of such new well is located. BBOG will also reserve a 10% carried working interest (and a 7.5% net revenue interest)
in the new drilling unit, leases, and interests being assigned to the well and proposed producing unit. E/WR/ and G shall pay
all costs attributable to BBOG’s interest in proportion to their ownership in such wells. The BBOG carried 10% working interest
shall apply to all wells and new drilling units drilled utilizing the existing Producing Units for surface locations that extend
laterals into units AUS RA SU DD, AUS RA SU EE, and AUS RA SU FF and which contain a portion or all of a BBOG lease. The carried
10% working interest to be proportionately reduced based on the percentage of BBOG lease attributed to the unit. E/WR/G shall
pay all costs attributable to that interest in proportion to their ownership in such wells. In depths below the top of the Austin
Chalk formation, BBOG will assign to E/WR/G 50% of BBOG’s remaining working interest in the appropriate new drilling unit
once the earning well is completed as defined. Once the earning well on a new drilling unit is completed as defined, ownership
before Payout in that new well and its new drilling unit shall be as follows: WR will own 90% of the working interest and a 67.5%
net revenue interest; BBOG will own a 10% carried working interest and a 7.5% net revenue interest.

 

“Payout”
is defined as: Separately as to each earning well, the point at which all costs associated with the drilling and completing of
the “Initial Well” (as to the earning well for the AUS RA SU DD unit being the Deshotels 24-H-#1) or the initial well
(as to subsequent earning wells) is received by E/WR from its share and G’s share of net revenue (being a 67.5% net revenue
interest) of Oil and Gas sales (BBOG being entitled to its 7.5% net revenue interest from first sales). After Payout, in an earning
well, ownership in such earning well and its drilling unit shall be as follows:

 

WR
will own 70% of the working interest and 52.5% net revenue interest;

 

G
will own 20% of the working interest and 15% net revenue interest.

 

BBOG
will own 10% of the working interest and 7.5% net revenue interest.

 

    5

     

    

 

6.
Confidentiality. The Parties agree that, except as set forth below, the provisions of this PA shall be kept confidential.
Except as set forth below, each Party agrees that no information pertaining to the PA or the transactions covered by it will be
disclosed to a third person or entity without the consent of the other Parties. E intends to issue a press release to be approved
by all parties herein, for public distribution in the form and content as shown in Exhibit C herein as required by E’s corporate
policy. This release will be “general” in nature and not disclose any confidential information addressed herein. Information
pertaining to the PA or the transactions covered by it may be disclosed by a Party to its affiliates and to its and their employees,
officers, partners, representatives, consultants, and advisors (collectively, “a Party’s Representatives”) provided,
however, that involvement of such Party’s Representatives will be kept at the minimal level which is reasonably necessary
to accomplish the objectives of this PA. A Party disclosing to its Representatives information pertaining to this PA or the transactions
covered by it will inform such Representatives of the confidential nature of the PA and the transactions covered by it and will
instruct such Representatives to abide by the terms of this Section B(6). A Party shall be responsible and liable for any use
or disclosure of information pertaining to the PA or the transactions covered by it by such Party’s Representatives in violation
of this PA. In the event that a Party (or any of such Party’s Representatives) is requested or becomes legally compelled
by external legal demand (such as, without limitation, interrogatories, governmental request for information or documents, subpoena,
summons, criminal or civil investigative demand, or similar process, but specifically excluding any requirement resulting from
any elective act or conduct of the Receiving Party) to disclose any information pertaining to the PA or the transactions covered
by it, such Party, unless prohibited by law, will provide the other Parties with prompt written notice so that the other Parties
may seek (at their sole, respective, expense, but with such Party’s reasonable cooperation if so requested by the other
Parties) a protective order or other appropriate remedy should any of the other Parties choose to do so. In the event that such
protective order or other remedy is not obtained, or that the other Parties waive compliance with this Section B.6, such Party
will furnish only such information pertaining to the PA or the transactions covered by it which is legally required to be disclosed,
and will exercise reasonable efforts to obtain reasonable assurances that the same will be accorded confidential treatment. The
foregoing obligations of confidentiality shall survive for 1 year following termination of this PA.

 

7.
Costs. Each Party will pay its own costs, including legal fees, in connection with this PA or the transactions covered
by it.

 

8.
LOI. The terms and provisions of the JOA and this PA shall supersede the terms and provisions included in the LOI. In the
event of a conflict, the provisions of this PA and the LOI, the provisions of this PA will control.

 

9.
Other Provisions. This PA shall be governed by, and shall be construed and enforced in accordance with, the laws of the
State of Texas, without regard to any conflict of laws rule or principle that would apply the laws of another jurisdiction. The
Parties hereby irrevocably agree that all actions or proceedings in any way related to this PA or the transactions covered by
it shall be brought exclusively in the state or federal courts located in Bexar County, Texas, and each Party waives any defense
of forum non conveniens and agrees to be bound by any judgment rendered by such courts in connection with this PA, subject
to any applicable right of appeal. In construing this PA, no consideration shall be given to the fact or presumption that one
Party had a greater or less hand in its drafting. Should a Party breach any provision of this PA and should the non-breaching
Party employ an attorney to enforce such provision and/or collect damages for such breach, then the breaching Party agrees to
pay the non-breaching Party such reasonable and necessary attorneys’ fees, expenses, and costs of litigation as the non-breaching
Party incurred with respect thereto.

 

    6

     

    

 

10.
Assignment/Counterparts. Neither Party may assign its rights hereunder, except to an affiliate, parent, or subsidiary,
without the prior written consent of the other Parties. This PA may be executed in any number of counterparts, which, taken together,
shall constitute one and the same instrument. The Parties agree that electronic representations of a Party’s original signature
(including, without limitation, facsimile, scanned, or pdf representations of a signature) shall be sufficient for all purposes,
and that such signatures, and this PA, may be transmitted or circulated to the Parties electronically or in electronic form by
any reasonable means including, without limitation, fax or email. The Parties agree that such execution and delivery shall have
the same force and effect as delivery of an original document with original signatures, and that each Party may use such signatures
as evidence of the execution and delivery of this PA by the Parties to the same extent that an original signature could be used.

 

The
Parties hereof have caused this PA to be executed and delivered by their duly authorized officers as of the date indicated below.

 

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	BlackBrush Oil & Gas, L.P.	 	Ecoark Holdings, Inc.
	 	 	 	 	 
	By: 	/s/ Mark A. Norville	 	By: 	/s/ Randy May
	 	Mark A. Norville	 	 	Randy May
	 	 	 	 	 
	Title: 	President	 	Title: 	CEO
	 	 	 	 	 
	Date:	10/9/20	 	Date:	10/9/20
	 	 	 	 	 
	 	 	 	 	 
	GeoTerre, LLC	 	White River SPV 3 LLC
	 	 	 	 	 
	By: 	/s/ Craig J. Sceroler	 	By: 	/s/ Jay Puchir
	 	Craig J. Sceroler	 	 	Jay Puchir
	 	 	 	 	 
	Title: 	Member Manager	 	Title: 	Manager
	 	 	 	 	 
	Date:	10/9/20	 	Date:	10/9/20

 

 

8

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