Document:

EXHIBIT
4.1

 

THIS
WARRANT HAS BEEN ACQUIRED FOR INVESTMENT. NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY.

 

COMMON
STOCK PURCHASE WARRANT

 

AMERICAN
NOBLE GAS, INC.

 

	Warrant
  Shares: [*] 	Issue
  Date: [*]
	Warrant
  Exercise price: $ [*] 	Termination
  Date: [*]

 

This
COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies that, for value received of $0.001 per Warrant Share issuable
hereunder, the receipt of which is hereby acknowledged, [*], or his assigns (the “Holder”) is entitled, upon
the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time or times on or prior to the
close of business on the five (5) year anniversary of the Issue Date (the “Termination Date”) but not thereafter,
to subscribe for and purchase from American Noble Gas, Inc., a Delaware Corporation (the “Company”), up to [*]
shares of Common Stock (the “Warrant Shares”).

 

1. Definitions.
In addition to the terms defined elsewhere in this Agreement, the following terms shall have the meanings set forth in this Section 1.

 

(a) “Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person as such terms are used in and construed under Rule 405 under the Securities Act.

 

(b) “Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day
on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

(c) “Commission”
means the United States Securities and Exchange Commission.

 

(d) “Common
Stock” means the common stock of the Company, par value $0.01 per share, and any other class of securities into which such
securities may hereafter be reclassified or changed.

 

(e) “Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is
at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

    	 

     

    

 

(f) “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

(g) “Person”
means an individual, corporation, limited liability company, partnership, association, joint venture, trust, unincorporated organization,
other entity or group (as defined in the Exchange Act).

 

(h) “Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

(i) “Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

(j) “Trading
Day” means a day on which the Trading Market is open for trading.

 

(k) “Trading
Market” means the principal market or exchange on which the Common Stock is listed or quoted for trading on the date in question.

 

(l) “Transfer
Agent” means Action Stock Transfer, the current transfer agent of the Company and any successor transfer agent of the Company.

 

2. Exercise.

 

(a) General.
Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or before the Termination
Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the Holder
at the address of the Holder appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise Form
annexed hereto (“Notice of Exercise”). Within three (3) Trading Days following the date of exercise as aforesaid,
the Holder shall deliver the aggregate Exercise Price (defined below) for the shares specified in the applicable Notice of Exercise by
wire transfer or cashier’s check drawn on a United States bank. Notwithstanding anything herein to the contrary, the Holder shall
not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available
hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation
within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant
resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding
number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and
the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver
any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance
of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the
Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount
stated on the face hereof. Under no circumstances will the Company be required to net cash settle this Warrant upon its exercise.

 

    	 

     

    

 

(b) Exercise
Price. The exercise price per share of the Warrant Shares shall be (i) [*] cents $[*] per share (the “Exercise
Price”).

 

(c) Mechanics
of Exercise.

 

(i) Delivery
of Certificates Upon Exercise. Shares of Common Stock purchased hereunder shall be transmitted by the Transfer Agent to the Holder
by crediting the account of the Holder’s prime broker with the Depository Trust Company (“DTC”) through its
Deposit Withdrawal Agent Commission (“DWAC”) system if the Company is then a participant in such system and either
(A) there is an effective registration statement permitting the resale of the Warrant Shares by the Holder or (B) the Warrant Shares
are eligible for resale without volume or manner of sale limitations pursuant to Rule 144, and otherwise by physical delivery of a certificate
to the address specified by the Holder in the Notice of Exercise by the date that is three (3) Trading Days after the latest of (x) the
delivery to the Company of the Notice of Exercise Form, (y) surrender of this Warrant (if required) and (z) payment of (A) if this Warrant
is exercised on a cash basis, the aggregate Exercise Price as set forth above and (B) all taxes required to be paid by the Holder, if
any, pursuant to Section 2(d)(vi) prior to the issuance of such shares (such date, the “Warrant Share Delivery Date”).
This Warrant shall be deemed to have been exercised on the first date on which all of the foregoing have been delivered to the Company.
The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed
to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the
Company of the Exercise Price and all taxes required to be paid by the Holder, if any, pursuant to Section 2(c)(v) prior to the issuance
of such shares, having been paid.

 

(ii) Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and
upon surrender of the certificate for this Warrant, at the time of delivery of the certificate or certificates representing Warrant Shares,
deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by this Warrant,
which new Warrant shall in all other respects be identical with this Warrant.

 

(iii) Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or the certificates representing
the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then, the Holder will have the right to rescind such
exercise.

 

(iv) No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this
Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall,
at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the
Exercise Price or round up to the next whole share.

 

(v) Charges,
Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the
Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder, this
Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the
Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

 

(vi) Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant,
pursuant to the terms hereof.

 

    	 

     

    

 

3. Certain
Adjustments.

 

(a) Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes
a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of
Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this
Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse
stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of the
Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which
the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event
and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of
shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant
shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for
the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the
effective date in the case of a subdivision, combination or re-classification.

 

(b) Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes
of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the
number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

(c) Notice
to Holder.

 

(i) Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth a brief statement of the facts requiring
such adjustment.

 

(ii) Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common
Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall
authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock
of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification
of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of
the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property,
or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company,
then, in each case, the Company shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register
(defined below) of the Company, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified,
a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or
warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend,
distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger,
sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the
Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice or
any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice.
To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or
any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.
The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date
of the event triggering such notice except as may otherwise be expressly set forth herein.

 

    	 

     

    

 

4. Limitation
on Sales of Warrant Shares. The Holder acknowledges that the Warrant Shares have not been registered under the Securities Act, and
agrees that it shall not sell, pledge, distribute, offer for sale, transfer or otherwise dispose of any Warrant Shares, in the absence
of (i) an effective registration statement under the Securities Act as to such Warrant Shares and registration or qualification of such
Warrant Shares under any applicable “blue sky” or state securities law then in effect or (ii) an opinion of counsel, satisfactory
to the Company, that such registration and qualification are not required. Without limiting the generality of the foregoing, unless the
resale of the Warrant Shares shall have been effectively registered under the Securities Act, the Warrant Shares issued upon exercise
of this Warrant shall be imprinted with a legend in substantially the following form:

 

This
security has been acquired for investment and has not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), or applicable state securities laws. This security may not be sold, pledged or otherwise transferred in the absence of such
registration or pursuant to an exemption therefrom under the Securities Act and such laws, supported by an opinion of counsel, reasonably
satisfactory to the Company and its counsel, that such registration is not required.

 

5. Transfer
of Warrant.

 

(a) Transfer.
Subject to compliance with any applicable state and federal securities laws and the provisions of this Warrant, this Warrant and all
rights hereunder may be transferred, in whole or in part, by surrendering this Warrant at the principal office of the Company or its
designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder
or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender
and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees,
as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a
new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly
assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

(b) New
Warrants. This Warrant may be divided upon presentation hereof at the aforesaid office of the Company, together with a written notice
specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject
to compliance with Section 5(a), as to any transfer which may be involved in such division, the Company shall execute and deliver a new
Warrant or Warrants in exchange for the Warrant or Warrants to be divided in accordance with such notice. All Warrants issued on transfers
or exchanges shall be dated the initial issuance date set forth on the first page of this Warrant and shall be identical with this Warrant
except as to the number of Warrant Shares issuable pursuant thereto.

 

(c) Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder
of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other
purposes, absent actual notice to the contrary.

 

    	 

     

    

 

6. Registration
Rights. If, at any time during the five (5) year period commencing on the Issue Date of this Warrant, the Company proposes to file
a registration statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or for shareholders of the
Company for their account, other than a registration statement (i) filed in connection with any employee stock option or other benefit
plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering
of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall (x)
give written notice of such proposed filing to the holder(s) of this Warrant and any Warrant Shares as soon as practicable but in no
event less than ten (10) days before the anticipated filing date, which notice shall describe the amount and type of securities to be
included in such offering, the intended method(s) of distribution, and the name of the proposed managing underwriter or underwriters,
if any, of the offering, and (y) offer to the holder(s) of this Warrant and any Warrant Shares in such notice the opportunity to register
the sale of such number of Warrant Shares (the “Registrable Securities”) as such holders may request in writing within
five (5) days following receipt of such notice (a “Piggy-Back Registration”). The Company shall cause such Registrable
Securities to be included in such registration statement and shall cause the managing underwriter or underwriters of a proposed underwritten
offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the same terms and conditions
as any similar securities of the Company and to permit the sale or other disposition of such Registrable Securities in accordance with
the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute their securities through
a Piggy-Back Registration that involves an underwriter or underwriters shall enter into an underwriting agreement in customary form with
the underwriter or underwriters selected for such Piggy-Back Registration. If the managing underwriter or underwriters for a Piggy-Back
Registration that is to be an underwritten offering advises the Company in writing that the dollar amount or number of shares of Registrable
Securities which the holder(s) thereof desire to sell, taken together with all other securities which the Company desires to sell and
all other securities, if any, as to which registration has been requested pursuant to written contractual piggy-back registration rights
which the holders thereof desire to sell, exceeds the maximum dollar amount or maximum number of shares that can be sold in such offering
without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering,
then the Company may remove from such registration statement any Registrable Securities that the managing underwriters shall reasonably
request. Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities
in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness of the
registration statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand pursuant
to written contractual obligations) may withdraw a registration statement at any time prior to the effectiveness of the registration
statement. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses of
any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities, but the Holders
shall pay any and all underwriting commissions related to the Registrable Securities.

 

7. Miscellaneous.

 

(a) No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as
a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i).

 

    	 

     

    

 

(b) Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case
of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include
the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make
and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

(c) Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted
herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding Business Day.

 

(d) Authorized
Shares. The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who
are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon
the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure
that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon
the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant
and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free
from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer
occurring contemporaneously with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale
of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary
or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the
foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise
immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company
may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof,
as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from
any public regulatory body or bodies having jurisdiction thereof.

 

(e) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and
construed and enforced in accordance with the internal laws of the State of Delaware, without regard to the principles of conflicts of
law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Warrant shall be commenced exclusively in the state and federal courts sitting in the City of Kansas City, Kansas.
Each party hereby irrevocably submits to the exclusive jurisdiction of the federal courts sitting in the Kansas City, Kansas, and the
state courts sitting in Wyandotte or Johnson County, Kansas for the adjudication of any dispute hereunder or in connection herewith or
with any transaction contemplated hereby or discussed herein and hereby irrevocably waives, and agrees not to assert in any suit, action
or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding
is improper or is an inconvenient venue for such proceeding.

 

    	 

     

    

 

(f) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as
a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies.

 

Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall
be deemed given and effective on the earliest of: (i) the date of transmission, if such notice or communication is delivered via facsimile
at the facsimile number set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day,
(ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile
number set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time)
on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier
service or (d) upon actual receipt by the party to whom such notice is required to be given. Except as otherwise provided of in this
Warrant, the address for such notices and communications shall be as follows: if to (A) the Company, 15612 College Boulevard, Lenexa,
Kansas 66219, Attention: Chief Financial Officer, and (B) the Holder, 111 Willits Street, Suite 300, Birmingham, MI 48009.

(g) Limitation
of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant to purchase Warrant
Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase
price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the
Company.

 

(h) Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific
performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any
action for specific performance that a remedy at law would be adequate.

 

(i) Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the
benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder.
The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable
by the Holder.

 

(j) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

(k) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

(l) Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this
Warrant.

 

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

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above
indicated.

 

	 	AMERICAN
    NOBLE GAS, INC.
	 	 	 
	 	By:	 
	 	Name:	Stanton
    E. Ross
	 	Title:	Chief
    Executive Officer

 

    	 

     

    

 

NOTICE
OF EXERCISE

 

To:
American Noble Gas, Inc.

 

(1) The
undersigned hereby elects to exercise Warrant No. (the “Warrant”) with respect to ____________ shares of common stock
of the Company (the “Warrant Shares”), pursuant to the terms of the Warrant, and tenders herewith or will tender within
the time period specified in the Warrant payment of the exercise price in full (or has elected below to exercise the Warrant on a cashless
basis), together with all applicable transfer taxes, if any. If the Warrant is being exercised in full, the Warrant is attached hereto
or will be delivered within the time period specified in the Warrant.

 

(2) Payment
of Exercise Price:

 

		☐	Payment
                                            shall take the form of lawful money of the United States in accordance with the terms of
                                            the Warrant.
	 	 	 
		☐	Payment
                                            shall take the form of a cashless exercise in accordance with the terms of the Warrant.

 

(3) Please
issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is specified
below:

 

_______________________________________________________________________

 

The
Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

_______________________________________________________________________

 

_______________________________________________________________________

 

_______________________________________________________________________

 

[SIGNATURE
OF HOLDER]

 

Name
of Holder: __________________________________________________________________________

 

Signature:
_______________________________________________________________________________

 

Name
of Signatory (if entity): _________________________________________________________

 

Title
of Signatory (if entity): __________________________________________________________________

 

Date:
___________________________________________________________________________________

 

    	 

     

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute this form and supply required information.

Do
not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to:

 

_______________________________________________________________________

 

whose
address is:

 

_______________________________________________________________________

 

_______________________________________________________________________

 

_______________________________________________________________________

 

	 	 	Dated:
    ______________, _______
	 	 	 
	 	 	 
	 	 	Name
    of Holder
	 	 	 
	 	 	 
	 	 	Signature
	 	 	 
	 	 	 
	 	 	Name
    of Signatory (if entity)
	 	 	 
	 	 	 
	 	 	Title
    of Signatory (if entity)
	 	 	 
	 	 	Address
    of Holder:
	 	 	 
	 	 	 
	 	 	 

 

Signature
Guaranteed: ___________________________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement
or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary
or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.EXHIBIT
10.1

 

AMERICAN
NOBLE GAS, INC.

15612
College Blvd.

Lenexa,
KS 66219

 

US
Noble Gas, LLC

402
Orofino Drive

Castle
Rock, CO 80108

 

November
9, 2021

 

RE:
Letter Agreement between American Noble Gas, Inc. (formerly Infinity Energy Resources, Inc.) and U.S. Noble Gas, LLC

 

Dear
Paul:

 

This
Letter Agreement supersedes and replaces that certain term sheet dated April 30, 2021, by and between American Noble Gas, Inc., formerly
known as, Infinity Energy Resources, Inc. (“AMFAS”) and U.S. Noble Gas, LLC. (“USNG”). AMGAS and USNG hereby
agrees as follows:

 

		1.	AMGAS
                                            shall fund 100% of the costs to test the Chase, Reagan and Cedar Hills formation for
                                            gas, helium and other noble gases including water and brine production and its mineral content
                                            under the direct supervision of USNG, Paul Mendell and the AMGAS Advisory Board.

 

		2.	US
                                            Noble Gas will provide the following resources, services and equipment to AMGAS;

 

		●	Paul
                                            Mendell - is an affiliate of USNG and as such will advise AMGAS technically with respect
                                            to noble gases and minerals. Paul will be responsible for supervising the day-to- day operations
                                            of all noble gas activities and mineral recovery activities including but not limited to
                                            the following:

 

		○	Daily
                                            report reviews, testing/review/interpretation of noble gas and rare earth elements/minerals
                                            concentrations produced on AMGAS properties, recommendations of adjustments to flow rates,
                                            PH, oxidation rates, temperature adjustments and whatever else is needed to maximize mineral
                                            recovery and noble gas recovery.

 

		○	All
                                            intellectual property developed by USNG/Paul with respect to minerals and noble gas recovery
                                            will remain his, except that AMGAS will be allowed the exclusive right to use it, free of
                                            royalty or fees, on AMGAS’s recently acquired 11, 000 acre leasehold in the Otis/Albert
                                            Field located on the Kansas Central Uplift (the “Central Kansas Properties”)
                                            and its intended acquisition of approximately 52,000 leasehold acres from Bear Petroleum,
                                            LLC and any future purchase of leasehold interests/operations that AMGAS may acquire in Rush
                                            and Barton Counties in Kansas.

 

    	 

     

    

 

		○	Additionally,
                                            USNG and all of its affiliates will assist with the Company’s marketing, distribution
                                            and any refining process necessary for its noble gas and rare earth elements/mineral including
                                            negotiating contracts with potential pipelines and other purchasers of such products.

 

		○	Paul
                                            discloses he has an economic interest in a lab in Pampa, Texas that will be doing testing
                                            and recovery experiments. AMGAS will retain all rights with respect to whether it elects
                                            to use Paul’s lab or third parties for its noble gas and rare earth elements/minerals
                                            recovery efforts. Any fees charged to the Company by Paul’s lab will be less than market
                                            rates and subject to review by the Company. Any fees greater then $1,000 in any billable
                                            month must be approved by AMGAS.

 

		●	Brian
                                            Weaver - is an affiliate of USNG and as such will provide services to AMGAS including
                                            acting as the Company’s consulting stimulation engineer and assist in all well, gathering
                                            line and frac designs as well as helping with preparing internal financial forecast for the
                                            company’s projects. Brian is a mechanical engineer and an MBA that currently consults
                                            for Liberty Frac.

 

		●	Eric
                                            Anderson - is an affiliate of USNG and as such will serve AMGAS as a land professional
                                            providing advisory services with respects to contracts, mapping, land acquisitions and other
                                            matters related to AMGAS’s acquisitions of land rights, right of ways and easement
                                            regarding minerals and noble gases.

 

		●	Mr.
                                            Mendel, Weaver and Anderson will be bound by the same non-compete as the members of AMGAS’s
                                            Board of Advisors.

 

		●	The
                                            separation equipment USNG will supply a gas extraction/separator unit to AMGAS which
                                            is a large vessel designed for flows up to 5,000 BWPD at low pressures. It is a dewatering
                                            vessel that could be used for multiple wells in the future. USNG will also supply a gas metering
                                            device which currently being installed. The equipment US Noble delivers free of charge shall
                                            belong to AMGAS along with all data and proprietary information regarding gases and minerals
                                            collected.

 

		3.	Consideration
                                            provided to USNG for the foregoing resources, services and equipment to AMGAS

 

		●	Warrants
                                            - USNG will be assigned warrants to purchase two million (2,000,000) shares of AMGAS
                                            common stock exercisable at fifty cents ($.50) per share for a term of five (5) years from
                                            the date of this letter agreement. AMGAS agrees to register the shares underlying the warrants
                                            on a piggyback basis. The warrants will be granted to the following individuals:

 

	Paul
    Mendell	 	 	832,000	 
	Brian
    Weaver	 	 	500,000	 
	Eric
    Anderson	 	 	668,000	 
	Total:	 	 	2,000,000	 

   

		●	USNG
                                            Monthly Fees - A monthly fee will be paid equal to $8,000 per month to USNG beginning
                                            at the onset of commercial helium or minerals production and sales. Such monthly fees will
                                            become due and payable for any month that AMGAS receives cash receipts in excess of $25,000
                                            derived from the sale of noble gases and/or rare earth elements/minerals. Such amounts will
                                            be paid no later than the 3rd business day following AMGAS’s collection
                                            of such cash receipts.

 

    	 

     

    

 

		4.	Board
                                            of Advisors - AMGAS agrees to invite the individuals described in the table below to
                                            join an Advisory Board for AMGAS. The role of the Advisory Board is to help attract both
                                            industry partners and financial partners for the exploration, development, production and
                                            marketing of large helium, noble gas and/or rare earth element/mineral resources, that may
                                            exist in the region where AMGAS currently operates. The industry partners would include helium,
                                            noble gas and/or rare earth element/mineral purchasers, exploration and development companies
                                            from the energy industry and financial partners may include large family offices or small
                                            institutions.

 

		●	Noncompetition
                                            and duties of the members of the Board of Advisors:

 

The
individuals on the Board of Advisors will not compete with AMGAS in Rush or Barton County Kansas. Any activities outside those counties
and located in Kansas will be offered to AMGAS on a first right of refusal basis on mutually acceptable terms. The Advisory Board will
serve the best interest of the company with respect to all AMGAS activities with respect to noble gases and rare earth elements/minerals
resources, advise regarding markets and contracts and any other related matters that the Company requires.

 

		●	BIOGRAPHIES
                                            - the Board of Advisors have provided biographies, which they agree can be used in press
                                            releases and SEC filings, which is attached hereto and made a part of this Letter Agreement.

 

		●	Board
                                            of Advisors Compensation - The Board of Advisors will receive warrants in AMGAS in the
                                            amounts described below and awarded effective as of the date of this Letter Agreement and
                                            on the same terms as those warrants described hereinabove

 

BOARD
OF ADVISORS

 

	Tom
    Harrison	 	 	500,000	 
	Paul
    Mendell	 	 	500,000	 
	Jon
    Gluyas	 	 	100,000	 
	Christopher
    Ballentine	 	 	100,000	 
	Total:	 	 	1,200,000	 

 

5. Disclosure/Public
Announcements - USNG and the Board of Advisors understand and agree to cooperative with AMGAS in making any required
filing with the Securities and Exchange Commission and public press announcements concerning this USNG letter agreement and the appointment
of the Board of Advisors in a manner and form agreed to in writing by both parties.

 

6. Waiver
- No party will be deemed to have waived the exercise of any right that it holds under this Letter unless such waiver is made
in writing. No waiver made with respect to any instance involving the exercise of any such right will be deemed to be a waiver with respect
to any other instance involving the exercise of the right or with respect to any other such right.

 

7. Time
- Time is of the essence in this Letter.

 

8. Severability
- Each provision of this Letter is intended to be severable, and if any provision is illegal, invalid, or unenforceable in any
jurisdiction, this will not affect the legality, validity or enforceability of such provision in any other jurisdiction or the validity
of the remainder of this Letter.

 

9. Governing
Law - This Letter will be interpreted and enforced in accordance with the laws of the State of Kansas and the federal laws of
the United States of America applicable therein.

 

    	 

     

    

 

This
Letter Agreement may be executed by use of electronic signature and may be executed in counterparts, each of which shall be deemed to
be an original, and all of which taken together, shall constitute one and the same agreement.

 

IN
WITNESS WEREOF, by signing below the undersigned agree and accept the terms of this Letter Agreement and have executed it as of November
9th, 2021.

 

	American
    Noble Gas, Inc. (formerly known as, Infinity Energy Resources, Inc.)	 	U.S.
    Noble Gas, LLC.
	 	 	 
	By:	/s/
                                            Stanton E. Ross
	 	By:
    	/s/
    Paul Mendell
	Name:	Stanton
    E. Ross	 	Name:	Paul
    Mendell
	Title:	CEO,
    President & Chairman	 	Title:	Managing
    Member
	Phone:	(620)
    431-8840	 	Phone:	(303)
    495-4138
	Email:	Rossy1979@aol.com	 	Email:	paulmendell@comcast.net

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