Document:

Exhibit 10.4

 

ASSIGNMENT AGREEMENT

 

THIS ASSIGNMENT AGREEMENT (this “Agreement”) is
entered into effective as of June 1, 2004 (“Effective Date”) by and
between Reef Partners LLC, a Nevada limited liability company (“Transferor”)
and Reef Global Energy III, L.P., a Nevada limited partnership (“Transferee”).

 

Preliminary Statements

 

WHEREAS, Transferor serves as the managing general
partner of Transferee, and in such capacity and in consideration for the
management fee received by Transferor in such role, Transferor from time to
time acquires interests in oil, gas and mineral leases on Transferee’s behalf; 

 

WHEREAS, effective as of May 1, 2004, Transferor
entered into an agreement with ORX Resources, Inc. (the “ORX”) to
participate in the drilling of certain oil, gas and mineral leases located in
St. Mary Parish, Louisiana within the area known as the “Bayou Carlin Prospect”
(more fully described on Exhibit A hereto) (the “Bayou Carlin
Participation Agreement”);

 

WHEREAS, the terms of the Bayou Carlin Participation
Agreement provide for, among other things, Transferee to receive 37.496% of all
of ORX’s right, title and interest in and to all oil, gas and mineral leases,
or other contracts currently owned, or hereafter acquired, by ORX to the extent
that such oil, gas and mineral contracts are included within the boundaries of
the AMI created and established for the Bayou Carlin Prospect, it being the
intent of ORX to convey Transferor a 28.5% interest in the units established
for the initial test well on the Bayou Carlin Prospect (the “Reef
Participation Interest”);

 

WHEREAS, the Reef Participation Interest has not yet
been recorded in the name of Transferor, it being Transferor’s knowledge and
belief that the Reef Participation Interest will be assigned by ORX to
Transferor upon the drilling and completion of a producing well on the Bayou
Carlin Prospect; and

 

WHEREAS, in its role as managing general partner of
Transferee, Transferor acquired a portion of its right, title and interest to
the Reef Participation Interest for the benefit of Transferee, and by way of
this Agreement intends to assign to Transferee such portion of the Reef
Participation Interest, it being the intent of Transferor to convey to
Transferee a working interest equal to 1.5472% before payout and 1.3538% after
payout in THE BAYOU CARLIN PROSPECT SL 13470 #1 ST #1 WELL BORE AND WELLBORE
ONLY (the “Assigned Interest”).

 

Agreement

 

For good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties to this Agreement,
intending to be legally bound, agree as follows:

 

1.             Assignment.
Transferor hereby conveys, transfers and assigns to, and contributes to the
capital of, Transferee, its successor and assigns, forever, all of Transferor’s
rights, title, privileges and interest in and to the Assigned Interest arising
under the Bayou Carlin Participation Agreement.  The recordation of such assignment shall occur in St. Mary
Parish, Louisiana as soon as reasonably practicable following ORX’s assignment
of the Reef Participation Interest to Transferor.

 

2.             Further Assurances.  Transferor and Transferee, for themselves
and their respective successors and assigns, covenant and agree that they will
execute and deliver such additional agreements, instruments or documents such
as deeds, bills of sale, assignments, UCC financing statements, transfers and
conveyances, powers of attorney, assurances, consents or assumptions, and will
take such further actions, as are necessary to transfer and assign more fully
the Assigned Interest.

 

 

3              Governing Law.
This Agreement shall be construed in accordance with and all disputes hereunder
shall be governed by the laws of the State of Nevada, excluding its conflict of
law rules.

 

The parties to this Agreement have executed and
delivered this Agreement as of the Effective Date.

 

	
  TRANSFEROR:

  	
   

  	
  TRANSFEREE:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  REEF PARTNERS LLC

  	
  REEF GLOBAL ENERGY III,
  L.P.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:  Reef Partners, LLC

  	
  By:  Reef Partners, LLC

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Michael J. Mauceli

  	
   

  	
  By:

  	
  /s/ Michael J. Mauceli

  	
   

  
	
  Name:

  	
  Michael J. Mauceli

  	
  Name:

  	
  Michael J. Mauceli

  
	
  Title:

  	
  Manager

  	
  Title:

  	
  Manager

  
									

 

 

Exhibit
A

 

Oil, Gas
and Mineral Leases within the Bayou Carlin Prospect Subject to Assignment

 

(a)                                  Mineral
Lease granted by Miami Corporation to Am-Per Enterprises, Inc., dated July 12,
2001, a memorandum of which, dated of even date with said mineral lease, is
recorded in Conveyance Book 44-I, page 538, Entry No. 274,405 of the records of
St. Mary Parish, Louisiana.

 

(b)                                 Mineral
Lease granted by Kearny Properties, L.L.C., to Am-Per Enterprises, Inc., dated
June 1, 2001, a memorandum of which dated June 14, 2001, is recorded in
Conveyance Book 44-1, page 126, entry No. 274,405 of the records of St. Mary
Parish, Louisiana.

 

(c)                                  Option
to enter into Oil, Gas and Mineral Lease by Kearny Properties, L.L.C. to ORX
Resources, Inc. dated effective March 31, 2004, which is recorded in Conveyance
Book 57, page 298, Entry No. 285,498 of the records of St. Mary Parish,
Louisiana.--------------------------------------------------------------------------------
                                                                    Exhibit 4(a)
                                      13584

                               MRU HOLDINGS, INC.

          NUMBER                                               SHARES
      ---------------                                      ---------------

      ---------------                                      ---------------

  This Certificate is         INCORPORATED UNDER THE      CUSIP 55348A 10 2
    transferable in                 LAWS OF THE
     New York, NY                STATE OF DELAWARE

                       SEE LEGEND ENDORSED ON REVERSE SIDE

This Certifies that                                            *****************
                                                               *****************
                          *** RESTRICTED SECURITIES ***        *****************
                                                               *****************
                                                               *****************
                                                               *****************
                                                               *****************

is the owner of _______________________________________________ **

            FULLY PAID AND NON ASSESSABLE SHARES OF THE COMMON STOCK,
                         PAR VALUE $.001 PER SHARE, OF

                               MRU HOLDINGS, INC.

(hereinafter the "Corporation"), transferable on the books of the Corporation by
the holder hereof in person or by duly authorized attorney upon surrender of
this certificate properly endorsed. This certificate is not valid until
countersigned and registered by the Transfer Agent and Registrar.

      WITNESS the facsimile seal of the Corporation and the facsimile signature
of its duly authorized officers.

         Dated:   13584000003

         BIL

     /s/                                                  /s/
             SECRETARY                                         PRESIDENT

                                     [SEAL]

COUNTERSIGNED AND REGISTERED

        AMERICAN STOCK TRANSFER & TRUST COMPANY
                        (New York, NY)                  TRANSFER AGENT
                                                        AND REGISTRAR

        BY _____________________________________

                                                AUTHORIZED SIGNATURE

--------------------------------------------------------------------------------

<PAGE>

                               MRU HOLDINGS, INC.

      The following abbreviations, when used in the inscription the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

        TEN COM - as tenants         UNIF GIFT MIN ACT --________Custodian______
                  in common                              (Cust)          (Minor)

        TEN ENT - as tenants                       under Uniform Gifts to Minors
                  by the entireties                Act _________________________
                                                                (State)

        JT TEN  - as Joint tenants
                  with right of
                  survivorship and
                  not as tenants in common

    Additional abbreviations may also be used though not in the above list.

      For value received, _________________________ hereby sell, assign and
transfer unto

PLEASE INSERT SOCIAL SECURITY OR
OTHER IDENTIFYING NUMBER OF ASSIGNEE
------------------------------------
                                    |
                                    |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                  Please print or typewrite name and address,
                     including postal zip code of assignee

--------------------------------------------------------------------------------

---------------------------------------------------------------------- Shares of

--------------------------------------------------------------------------------
the Common Stock represented by the within Certificate, and do hereby

--------------------------------------------------------------------------------
irrevocably constitute and appoint

--------------------------------------------------------------------------------
Attorney to transfer the said stock on the books of the within-named Corporation
with full power of substitution in the premises.

--------------------------------------------------------------------------------
NOTICE: The signature to this assignment must correspond with the name as
        written upon the face of the Certificate, in every particular, without
        alteration or enlargement, or any change whatever.
--------------------------------------------------------------------------------

Dated ________________________________

                                          --------------------------------------

Signatures (s) Guaranteed:

----------------------------------------
THE SIGNATURES(S)  MUST BE GUARANTEED BY
AN   ELIGIBLE   GUARANTOR    INSTITUTION
(BANKS,  STOCKBROKERS,  SAVINGS AND LOAN
ASSOCIATIONS     AND    CREDIT    UNIONS
WITH MEMBERSHIP IN AN APPROVED  SIGNATURE
GUARANTEE MEDALLION  PROGRAM),  PURSUANT
TO S.E.C. RULE 17AD-15.

KEEP THIS CERTIFICATE IN A SAFE PLACE, IF IT IS LOST, MUTILATED OR DESTROYED,
THE CORPORATION MAY REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE
OF A REPLACEMENT CERTIFICATED.

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL SUCH SHARES ARE REGISTERED
UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY IS OBTAINED
TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]