Document:

Exhibit 10.1

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of June __, 2022, by and between MPHASE TECHNOLOGIES,
INC., a New Jersey corporation, with its executive offices located at 1011 Wootton Parkway, Suite 1040, Rockville, MD 20850 (the
“Company”), and AJB CAPITAL INVESTMENTS, LLC, a Delaware limited liability company, with an address at 4700
Sheridan Street, Suite J, Hollywood, FL 33021 (the “Buyer”).

 

RECITALS

 

WHEREAS,
the Company desires to issue and sell to the Buyer and the Buyer desires to purchase from the Company, on and subject to the terms and
conditions set forth in this Agreement, a $1,200,000 principal amount 10% promissory note of the Company, in the form attached hereto
as Exhibit A (together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto
in accordance with the terms thereof, the “Note”), which Note is convertible following an Event of Default (as defined
therein) into shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), on and subject
to the terms and conditions set forth therein; and

 

WHEREAS,
in connection with issuance and sale of the Note, the Company desires to pay an incentive fee to Buyer (the “Incentive Fee”)
through the issuance to Buyer, on and subject to the terms and conditions set forth in this Agreement, (a) 4,500,000 Incentive Fee Shares
(as hereinafter defined), subject to adjustment as provided for herein; and (b) a warrant in the form attached hereto as Exhibit B
(the “Warrant”), to purchase up to 1,000,000 shares of Common Stock, subject to adjustment as provided for therein;
and

 

WHEREAS,
The Company and the Buyer are executing and delivering this Agreement and consummating the transactions contemplated herein in reliance
upon the exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”)
afforded by Section 4(a)(2) thereof and the rules and regulations thereunder as promulgated by the United States Securities and Exchange
Commission (the “SEC”) and under applicable state securities laws.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the mutual promises, conditions, representations and warranties hereinafter set forth and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Buyer hereby agree
as follows:

 

1. PURCHASE
AND SALE OF NOTE.

 

a. Purchase
of Note. On the Closing Date (as hereinafter defined), the Company shall issue and sell the Note to the Buyer and the Buyer shall
purchase the Note from the Company for a purchase price of $1,080,000 (the $1,200,000 principal amount of the Note less original issue
discount of $1,200,000) (the “Purchase Price”). The Note will be secured by a lien on the Company’s assets granted
to the Buyer by the Company pursuant to the Security Agreement in the form attached hereto as Exhibit C.

 

    	 

     

    

 

b. Payment
of the Incentive Fee. On the Closing Date, the Company shall pay the Incentive Fee to the Buyer by issuing the Incentive Fee Shares
and the Warrant to the Buyer.

 

c. Form
of Payment. On the Closing Date, (i) the Buyer shall pay the Company the amount of $__________, representing the Purchase Price for
the Note, less $_______ in other deductions provided for herein, by wire transfer of immediately available funds to the Company, in accordance
with the Company’s written wiring instructions; and (ii) the Company shall deliver the duly executed Note and pay the Incentive
Fee by delivering certificates or statements of book entry evidencing 4,500,000 Incentive Fee Shares registered in the Buyer’s
name in accordance with Section 4(o) of this Agreement and the duly executed Warrant.

 

d. Closing
Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 7 and Section 8
below, the date and time of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall
be 12:00 noon, Eastern Standard Time on the date hereof, or such other mutually agreed upon time. The closing of the transactions contemplated
by this Agreement (the “Closing”) shall occur on the Closing Date by remote exchange of documents, or at such location
as may be agreed to by the Company and the Buyer.

 

2. REPRESENTATIONS
AND WARRANTIES OF THE BUYER. The Buyer represents and warrants to the Company that:

 

a. Investment
Intent. As of the date hereof, the Buyer is purchasing the Note, the Incentive Fee Shares, the Note, the shares of Common Stock issuable
upon conversion of or otherwise pursuant to the Note (including, without limitation, such additional shares of Common Stock, if any,
as are issuable (i) on account of interest on the Note; (ii) as a result of the events described in Sections 1.3 and 1.4(g)
of the Note; or (iii) in payment of the Standard Liquidated Damages Amount as defined in Section 2(f) of this Agreement, (such
shares of Common Stock being collectively referred to herein as the “Conversion Shares”), the Warrant, and the shares
of Common Stock issuable upon exercise of or otherwise pursuant to the Warrant (the “Warrant Shares,” and together
with the Note, the Incentive Fee Shares, the Conversion Shares and the Warrant, collectively, the “Securities”), for
its own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted
from registration under the Securities Act; provided, however, that by making the representations herein, the Buyer does
not agree to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities at
any time in accordance with or pursuant to a registration statement or an applicable exemption under the Securities Act.

 

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b. Accredited
Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D
under the Securities Act (an “Accredited Investor”).

 

c. Reliance
on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions from
the registration requirements of the Securities Act and applicable and state securities laws and that the Company is relying upon the
truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of the Buyer to acquire the
Securities.

 

d. Information.
The Buyer has been, and for so long as the Note, the Incentive Fee Shares and the Warrant remain outstanding will continue to be, (i)
furnished with all publicly available materials relating to the business, finances and operations of the Company and materials relating
to the offer and sale of the Securities which have been requested by the Buyer and (ii) afforded the opportunity to ask questions of
the Company’s management. Notwithstanding the foregoing, the Company has not disclosed to the Buyer any material nonpublic information
and will not disclose such information unless such information is disclosed to the public prior to or promptly following such disclosure
to the Buyer. Neither such inquiries nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives
shall modify, amend or affect Buyer’s right to rely on the Company’s representations and warranties contained in Section
3 below. The Buyer understands that its investment in the Securities involves a significant degree of risk.

 

e. Governmental
Review. The Buyer understands that no United States federal or state agency or any other government or governmental agency has passed
upon or made any recommendation or endorsement of the Securities.

 

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f. Transfer
or Re-sale. The Buyer understands that (i) the Securities may not be transferred unless (a) the Securities are sold pursuant to an
effective registration statement under the Securities Act; (b) the Buyer shall have delivered to the Company, at the cost of the Company,
an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions to the
effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration, which
opinion shall be accepted by the Company; (c) the Securities are sold or transferred to an “affiliate” (as defined
in Rule 144 promulgated under the Securities Act (or a successor rule) (“Rule 144”)) of the Buyer who agrees to sell
or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited Investor; (d) the Securities
are sold pursuant to Rule 144 or other applicable exemption; or (e) the Securities are sold pursuant to Regulation S under the Securities
Act (or a successor rule) (“Regulation S”), and the Buyer shall have delivered to the Company, at the cost of the
Company, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions,
which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on Rule 144 may be made only in accordance
with the terms of Rule 144 and further, if said Rule 144is not applicable, any re-sale of such Securities under circumstances in which
the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the Securities
Act) may require compliance with some other exemption under the Securities Act or the rules and regulations of the SEC thereunder; and
(iii) neither the Company nor any other person is under any obligation to register such Securities under the Securities Act or any state
securities laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the foregoing
or anything else contained herein to the contrary, the Securities may be pledged as collateral in connection with a bona fide
margin account or other lending arrangement. In the event that the Company does not accept the opinion of counsel provided by the Buyer
with respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S, within three
(3) business days of delivery of the opinion to the Company, the Company shall pay to the Buyer liquidated damages of five percent (5%)
of the outstanding amount of the Note per day plus accrued and unpaid interest on the Note, prorated for partial months, in cash or shares
at the option of the Buyer (“Standard Liquidated Damages Amount”). If the Buyer elects to be pay the Standard Liquidated
Damages Amount in shares of Common Stock, such shares shall be issued at the Conversion Price (as defined in the Note) at the time of
payment.

 

g. Legends.
The Buyer understands that the Note and the Warrant, until such time as the Conversion Shares, the Incentive Fee Shares and the Warrant
Shares have been registered under the Securities Act may be sold pursuant to Rule 144 or Regulation S or other applicable exemption without
any restriction as to the number of securities as of a particular date that can then be immediately sold, the Conversion Shares, the
Incentive Fee Shares and the Warrant Shares may bear a restrictive legend in substantially the following form (and a stop-transfer order
may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM,
THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT OR OTHER APPLICABLE
EXEMPTION. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR
FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

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The
legend set forth above shall be removed and the Company shall issue a certificate or book entry statement without such legend to the
holder of any Security upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security
is registered for sale under an effective registration statement filed under the Securities Act or otherwise may be sold pursuant to
Rule 144 or Regulation S or other applicable exemption without any restriction as to the number of securities as of a particular date
that can then be immediately sold, or (b) such holder provides the Company with an opinion of counsel, in form, substance and scope customary
for opinions of counsel in comparable transactions, to the effect that a public sale or transfer of such Security may be made without
registration under the Securities Act, which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer
agrees to sell all Securities, including those represented by a certificate(s) or a book entry statement(s) from which the legend has
been removed, in compliance with applicable prospectus delivery requirements, if any. In the event that the Company does not accept the
opinion of counsel provided by the Buyer with respect to the transfer of Securities pursuant to an exemption from registration, such
as Rule 144 or Regulation S, at the Deadline (as hereinafter defined), it will be considered an Event of Default pursuant to Section
3.2 of the Note.

 

h. Authorization;
Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered on behalf of
the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its terms.

 

i. Residency.
The Buyer is organized in the jurisdiction set forth in the preamble.

 

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3. REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. The Company represents and warrants to the Buyer that:

 

a. Organization
and Qualification. The Company and each of its Subsidiaries (as hereinafter defined), if any, is a corporation or other entity duly
organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and
authority (corporate and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased,
used, operated and conducted. The Company and each of its Subsidiaries is duly qualified as a foreign corporation or other entity to
do business and is in good standing in every jurisdiction in which its ownership or use of property or the nature of the business conducted
by it makes such qualification necessary except where the failure to be so qualified or in good standing would not have a Material Adverse
Effect. As used in this Agreement, “Material Adverse Effect” means any material adverse effect on the business, operations,
assets, financial condition or prospects of the Company or its Subsidiaries taken as a whole, or on the transactions contemplated hereby
or by the agreements or instruments to be entered into in connection herewith; provided, however, that “Material Adverse Effect”
shall not include any event, occurrence, fact, condition or change, directly or indirectly, arising out of or attributable to: (i) general
economic or political conditions; (ii) conditions generally affecting the industry in which the Company or any Subsidiary operates; (iii)
any changes in financial or securities markets in general; (iv) acts of war (whether or not declared), armed hostilities or terrorism,
or the escalation or worsening thereof; (v) any pandemic, epidemics or human health crises (including COVID-19); (vi) any changes in
applicable laws or accounting rules (including GAAP); (vii) the announcement, pendency or completion of the transactions contemplated
by the Transaction Documents; or (viii) any action required or permitted by the Transaction Documents or any action taken (or omitted
to be taken) with the written consent of or at the written request of the Buyer). As used in this Agreement, “Subsidiaries”
means any corporation or other organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly,
any equity or other ownership interest.

 

b. Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement, the Note the
Warrant and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms
hereof and thereof; (ii) the execution and delivery of this Agreement, the Note and the Warrant by the Company and the consummation by
it of the transactions contemplated hereby and thereby (including without limitation, the issuance of the Note, the Conversion Shares,
the Incentive Fee Shares, the Warrant, the Warrant Shares and the issuance and reservation for issuance of shares of Common Stock issuable
upon conversion or exercise thereof) have been duly authorized by the Company’s Board of Directors and no further consent or authorization
of the Company, its Board of Directors, or its shareholders is required; (iii) this Agreement has been duly executed and delivered by
the Company by its authorized representative, and such authorized representative is the true and official representative with authority
to sign this Agreement and the other documents executed in connection herewith and bind the Company accordingly; and (iv) this Agreement
constitutes, and upon execution and delivery by the Company of the Note and the Warrant, each of such instruments will constitute, a
legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms.

 

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c. Capitalization.
As of the date hereof, the authorized capital stock of the Company consists of: (i) 500,000,000 shares of Common Stock, authorized of
which _________ shares are issued and outstanding; and (ii) 1,000 shares of preferred stock, par value $0.01 per share, all of which
are issued and outstanding. Except as disclosed in the SEC Documents (as hereinafter defined), the Conversion Shares and the Warrant
Shares, no shares are reserved for issuance pursuant to any equity incentive plan, securities (other than the Note and the Warrant) convertible
into or exercisable or exchangeable for shares of Common Stock. All of the Company’s outstanding shares of capital stock are, or
the Conversion Shares, the Incentive Fee Shares and the Warrant Shares, when issued will be, duly authorized, validly issued, fully paid
and non-assessable. No shares of capital stock of the Company are subject to preemptive rights or any other similar rights of the shareholders
of the Company or any liens or encumbrances imposed through the actions or failure to act of the Company. Except as disclosed in the
SEC Documents, as of the effective date of this Agreement, (i) there are no outstanding options, warrants, scrip, rights to subscribe
for, puts, calls, rights of first refusal, agreements, understandings, claims or other commitments or rights of any character whatsoever
relating to, or securities or rights convertible into or exchangeable for any shares of capital stock of the Company or any of its Subsidiaries,
or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional shares of capital stock of
the Company or any of its Subsidiaries; (ii) there are no agreements or arrangements under which the Company or any of its Subsidiaries
is obligated to register the sale of any of its or their securities under the Securities Act; and (iii) there are no anti-dilution or
price adjustment provisions contained in any security issued by the Company (or in any agreement providing rights to security holders)
that will be triggered by the issuance of the Note or the Conversion Shares. The Company has filed in its SEC Documents true and correct
copies of the Company’s Certificate of Incorporation as in effect on the date hereof (“Certificate of Incorporation”),
the Company’s By-laws, as in effect on the date hereof (the “By-laws”), and the terms of all securities convertible
into or exercisable or exchangeable for Common Stock of the Company and the material rights of the holders thereof in respect thereto.

 

d. Issuance
of the Securities. The issuance of the Note, the Incentive Fee Shares and the Warrant is duly authorized and, upon issuance in accordance
with the terms of this Agreement, will be validly issued and in the case of the Incentive Fee Shares, fully paid and non-assessable and
free from all preemptive or similar rights, taxes, liens, charges and other encumbrances with respect to the issuance thereof. The Conversion
Shares and Warrant Shares are duly authorized and reserved for issuance and, upon conversion of the Note or exercise of the Warrant in
accordance with their respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims
and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders
of the Company and will not impose personal liability upon the holder thereof. Incentive Fee Shares

 

e. Acknowledgment
of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock upon the issuance of the
Conversion Shares upon conversion of the Note and the Warrant Shares upon exercise of the Warrant. The Company further acknowledges that
its obligation to issue the Conversion Shares upon conversion of the Note, additional Incentive Fee Shares in accordance with this Agreement
and the Note and the Warrant Shares upon exercise of the Warrant, is absolute and unconditional regardless of the dilutive effect that
such issuance may have on the ownership interests of other shareholders of the Company.

 

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f. No
Conflicts. The execution, delivery and performance of this Agreement, the Note and the Warrant by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for issuance
of the Conversion Shares and the Warrant Shares and the issuance of the Incentive Fee Shares) will not (i) conflict with or result in
a violation of any provision of the Certificate of Incorporation or By-laws; or (ii) violate or conflict with, or result in a breach
of any provision of, or constitute a default (or an event which with notice or lapse of time or both could become a default) under, or
give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture, patent, patent license
or instrument to which the Company or any of its Subsidiaries is a party; or (iii) result in a violation of any law, rule, regulation,
order, judgment or decree (including federal and state securities laws and regulations and regulations of any self-regulatory organizations
to which the Company or its securities are subject) applicable to the Company or any of its Subsidiaries or by which any property or
asset of the Company or any of its Subsidiaries is bound or affected (except for such conflicts, defaults, terminations, amendments,
accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect). Neither
the Company nor any of its Subsidiaries is in violation of its Certificate of Incorporation, By-laws or other organizational documents
and neither the Company nor any of its Subsidiaries is in default (and no event has occurred which with notice or lapse of time or both
could put the Company or any of its Subsidiaries in default) under, and neither the Company nor any of its Subsidiaries has taken any
action or failed to take any action that would give to others any rights of termination, amendment, acceleration or cancellation of,
any agreement, indenture or instrument to which the Company or any of its Subsidiaries is a party or by which any property or assets
of the Company or any of its Subsidiaries is bound or affected, except for (i) possible defaults as would not, individually or in the
aggregate, have a Material Adverse Effect; and (ii) defaults of currently outstanding securities instruments. The businesses of the Company
and its Subsidiaries, if any, are not being conducted, and shall not be conducted so long as the Buyer owns any of the Securities, in
violation of any law, ordinance or regulation of any governmental entity. Except as specifically contemplated by this Agreement and as
required under the Securities Act and any applicable state securities laws, the Company is not required to obtain any consent, authorization
or order of, or make any filing or registration with, any court, governmental agency, regulatory agency, self-regulatory organization
or stock market or any third party in order for it to execute, deliver or perform any of its obligations under this Agreement, the Note
and the Warrant in accordance with the terms hereof or thereof or to issue and sell the Note, the Incentive Fee Shares and the Warrant
in accordance with the terms hereof and to issue the Conversion Shares upon conversion of the Note and the Warrant Shares upon exercise
of the Warrant. All consents, authorizations, orders, filings and registrations which the Company is required to obtain pursuant to the
preceding sentence have been obtained or effected on or prior to the date hereof. The Company is not in violation of the listing requirements
of the OTC Pink (the “OTC Pink”), the OTCQB or any similar quotation system, and does not reasonably anticipate that
the Common Stock will be delisted by the OTC Pink, the OTCQB or any similar quotation system, in the foreseeable future nor are the Company’s
securities “chilled” by DTC. The Company and its Subsidiaries are unaware of any facts or circumstances which might
give rise to any of the foregoing.

 

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g. SEC
Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required to
be filed by it with the SEC pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) since July 1, 2019 (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial
statements and schedules thereto and documents (other than exhibits to such documents) incorporated by reference therein, being hereinafter
referred to herein as the “SEC Documents”). The Company has delivered to the Buyer true and complete copies of the
SEC Documents, except for such exhibits and incorporated documents. As of their respective dates, the SEC Documents complied in all material
respects with the requirements of the Exchange Act and the rules and regulations of the SEC promulgated thereunder applicable to the
SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light
of the circumstances under which they were made, not misleading. None of the statements made in any such SEC Documents is, or has been,
required to be amended or updated under applicable law (except for such statements as have been amended or updated in subsequent filings
prior the date hereof). As of their respective dates, the financial statements of the Company included in the SEC Documents complied
as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect
thereto. Such financial statements have been prepared in accordance with United States generally accepted accounting principles, consistently
applied, during the periods involved and fairly present in all material respects the consolidated financial position of the Company and
its consolidated Subsidiaries as of the dates thereof and the consolidated results of their operations and cash flows for the periods
then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). Except as set forth in the financial
statements of the Company included in the SEC Documents, the Company has no liabilities, contingent or otherwise, other than (i) liabilities
incurred in the ordinary course of business subsequent to July 1, 2019, and (ii) obligations under contracts and commitments incurred
in the ordinary course of business and not required under generally accepted accounting principles to be reflected in such financial
statements, which, individually or in the aggregate, are not material to the financial condition or operating results of the Company.
The Company is subject to the reporting requirements of the Exchange Act. For the avoidance of doubt, filing of the documents required
in this Section 3(g) via the SEC’s Electronic Data Gathering, Analysis, and Retrieval system (“EDGAR”) shall
satisfy all delivery requirements of this Section 3(g).

 

h. Absence
of Certain Changes. Since March 31, 2022, there has been no material adverse change and no material adverse development in the assets,
liabilities, business, properties, operations, financial condition, results of operations, prospects or Exchange Act reporting status
of the Company or any of its Subsidiaries.

 

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i. Absence
of Litigation. Except as set forth in the SEC Documents, there is no action, suit, claim, proceeding, inquiry or investigation before
or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the Company or
any of its Subsidiaries, threatened against or affecting the Company or any of its Subsidiaries, or their officers or directors in their
capacity as such, that could have a Material Adverse Effect. Schedule 3(i) contains a complete list and summary description of
any pending or, to the knowledge of the Company, threatened proceeding against or affecting the Company or any of its Subsidiaries, without
regard to whether it would have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

j. Patents,
Copyrights, etc. The Company and each of its Subsidiaries owns or possesses the requisite licenses or rights to use all patents,
patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications, service marks, service names,
trade names and copyrights (“Intellectual Property”) necessary to enable it to conduct its business as now operated
(and, as presently contemplated to be operated in the future). Except as disclosed in the SEC Documents, there is no claim or action
by any person pertaining to, or proceeding pending, or to the Company’s knowledge threatened, which challenges the right of the
Company or of a Subsidiary with respect to any Intellectual Property necessary to enable it to conduct its business as now operated (and,
as presently contemplated to be operated in the future); to the best of the Company’s knowledge, the Company’s or its Subsidiaries’
current and intended products, services and processes do not infringe on any Intellectual Property or other rights held by any person;
and the Company is unaware of any facts or circumstances which might give rise to any of the foregoing. The Company and each of its Subsidiaries
have taken reasonable security measures to protect the secrecy, confidentiality and value of their Intellectual Property.

 

k. No
Materially Adverse Contracts, Etc. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate or other
legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers has or is
expected in the future to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party to any contract
or agreement which in the judgment of the Company’s officers has or is expected to have a Material Adverse Effect.

 

l. Tax
Status. The Company and each of its Subsidiaries has made or filed all federal, state and foreign income and all other tax returns,
reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that the Company and each
of its Subsidiaries has set aside on its books provisions reasonably adequate for the payment of all unpaid and unreported taxes) and
has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such
returns, reports and declarations, except those being contested in good faith and has set aside on its books provisions reasonably adequate
for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no
unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company know
of no basis for any such claim. The Company has not executed a waiver with respect to the statute of limitations relating to the assessment
or collection of any foreign, federal, state or local tax. None of the Company’s tax returns is presently being audited by any
taxing authority.

 

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m. Certain
Transactions. Except for arm’s length transactions pursuant to which the Company or any of its Subsidiaries makes payments
in the ordinary course of business upon terms no less favorable than the Company or any of its Subsidiaries could obtain from third parties
and other than the grant of equity awards disclosed on Schedule 3(c), none of the officers, directors, or employees of the Company
is presently a party to any transaction with the Company or any of its Subsidiaries (other than for services as employees, officers and
directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental
of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the
knowledge of the Company, any corporation, partnership, trust or other entity in which any officer, director, or any such employee has
a substantial interest or is an officer, director, trustee or partner.

 

n. Disclosure.
All information relating to or concerning the Company or any of its Subsidiaries set forth in this Agreement is true and correct in all
material respects and the Company has not omitted to state any material fact necessary in order to make the statements made herein or
therein, in light of the circumstances under which they were made, not misleading. No event or circumstance has occurred or exists with
respect to the Company or any of its Subsidiaries or its or their business, properties, prospects, operations or financial conditions,
which, under applicable law, rule or regulation, requires public disclosure or announcement by the Company but which has not been so
publicly announced or disclosed (assuming for this purpose that the Company’s reports filed under the Exchange Act are being incorporated
into an effective registration statement filed by the Company under the Securities Act).

 

o. Acknowledgment
Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely in the capacity
of arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges
that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement
and the transactions contemplated hereby and any statement made by the Buyer or any of its representatives or agents in connection with
this Agreement and the transactions contemplated hereby is not advice or a recommendation and is merely incidental to the Buyer’
purchase of the Securities. The Company further represents to the Buyer that the Company’s decision to enter into this Agreement
has been based solely on the independent evaluation of the Company and its representatives.

 

    	11

     

    

 

p. No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly or
indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would require
registration under the Securities Act of the issuance of the Securities to the Buyer. The issuance of the Securities to the Buyer will
not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes of any shareholder
approval provisions applicable to the Company or its securities.

 

q. Brokers.
The Company hereby represents and warrants that it has engaged H.C. Wainwright & Co. LLC as the sole broker (the “Broker”)
in connection with the negotiation, execution or delivery of this Agreement or the transactions contemplated hereunder. The Company covenants
and agrees that should any claim be made against Purchaser for any commission or other compensation by the Broker, based upon the Company’s
engagement of such person in connection with this transaction, the Company shall indemnify, defend and hold Purchaser harmless from and
against any and all damages, expenses (including attorneys’ fees and disbursements) and liability arising from such claim. The
Company shall pay the commission of the Broker, to the attention of the Broker, pursuant to their separate agreement(s) between the Company
and the Broker.

 

r. Permits;
Compliance. The Company and each of its Subsidiaries is in possession of all franchises, grants, authorizations, licenses, permits,
easements, variances, exemptions, consents, certificates, approvals and orders necessary to own, lease and operate its properties and
to carry on its business as it is now being conducted (collectively, the “Company Permits”), and there is no action pending
or, to the knowledge of the Company, threatened regarding suspension or cancellation of any of the Company Permits. Neither the Company
nor any of its Subsidiaries is in conflict with, or in default or violation of, any of the Company Permits, except for any such conflicts,
defaults or violations which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. Since
March 31, 2022, neither the Company nor any of its Subsidiaries has received any notification with respect to possible conflicts, defaults
or violations of applicable laws, except for notices relating to possible conflicts, defaults or violations, which conflicts, defaults
or violations would not have a Material Adverse Effect.

 

s. Environmental
Matters.

 

(i) There
are, to the Company’s knowledge, with respect to the Company or any of its Subsidiaries or any predecessor of the Company, no past
or present violations of Environmental Laws (as defined below), releases of any material into the environment, actions, activities, circumstances,
conditions, events, incidents, or contractual obligations which may give rise to any common law environmental liability or any liability
under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 or similar federal, state, local or foreign laws
and neither the Company nor any of its Subsidiaries has received any notice with respect to any of the foregoing, nor is any action pending
or, to the Company’s knowledge, threatened in connection with any of the foregoing. As used in this Agreement, the term “Environmental
Laws” means all federal, state, local or foreign laws relating to pollution or protection of human health or the environment (including,
without limitation, ambient air, surface water, groundwater, land surface or subsurface strata), including, without limitation, laws
relating to emissions, discharges, releases or threatened releases of chemicals, pollutants contaminants, or toxic or hazardous substances
or wastes (collectively, “Hazardous Materials”) into the environment, or otherwise relating to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as all authorizations, codes,
decrees, demands or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations
issued, entered, promulgated or approved thereunder.

 

    	12

     

    

 

(ii) Other
than those that are or were stored, used or disposed of in compliance with applicable law, no Hazardous Materials are contained on or
about any real property currently owned, leased or used by the Company or any of its Subsidiaries, and no Hazardous Materials were released
on or about any real property previously owned, leased or used by the Company or any of its Subsidiaries during the period the property
was owned, leased or used by the Company or any of its Subsidiaries, except in the normal course of the Company’s or any of its
Subsidiaries’ business.

 

(iii) There
are no underground storage tanks on or under any real property owned, leased or used by the Company or any of its Subsidiaries that are
not in compliance with applicable law.

 

t. Title
to Property. Except as disclosed in the SEC Documents, the Company and its Subsidiaries have good and marketable title in fee simple
to all real property and good and marketable title to all personal property owned by them which is material to the business of the Company
and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects or such as would not have a Material Adverse
Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them under valid, subsisting
and enforceable leases with such exceptions as would not have a Material Adverse Effect.

 

u. Internal
Accounting Controls. Except as disclosed in the SEC Documents the Company and each of its Subsidiaries maintain a system of internal
accounting controls sufficient, in the judgment of the Company’s board of directors, to provide reasonable assurance that (i) transactions
are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to
permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability;
(iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to
any differences.

 

    	13

     

    

 

v. Foreign
Corrupt Practices. Neither the Company, nor any of its Subsidiaries, nor any director, officer, agent, employee or other person acting
on behalf of the Company or any Subsidiary has, in the course of his actions for, or on behalf of, the Company, used any corporate funds
for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; made any direct or indirect
unlawful payment to any foreign or domestic government official or employee from corporate funds; violated or is in violation of any
provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or made any bribe, rebate, payoff, influence payment, kickback
or other unlawful payment to any foreign or domestic government official or employee.

 

w. Solvency.
The Company (after giving effect to the transactions contemplated by this Agreement) is solvent (i.e., its assets have a fair
market value in excess of the amount required to pay its probable liabilities on its existing debts as they become absolute and matured)
and currently the Company has no information that would lead it to reasonably conclude that the Company would not, after giving effect
to the transaction contemplated by this Agreement, have the ability to, nor does it intend to take any action that would impair its ability
to, pay its debts from time to time incurred in connection therewith as such debts mature. The Company did not receive a qualified opinion
from its auditors with respect to its most recent fiscal year end other than with respect to its ability to continue as a “going
concern” and, after giving effect to the transactions contemplated by this Agreement, does not anticipate or know of any basis
upon which its auditors might issue a qualified opinion in respect of its current fiscal year (other than with respect to its ability
to continue as a “going concern”).

 

x. No
Investment Company. The Company is not, and upon the issuance and sale of the Securities as contemplated by this Agreement will not
be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment
Company”). The Company is not controlled by an Investment Company.

 

y.
Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such
losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the
Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has any reason to believe that it will not be able
to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may
be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written request the Company will
provide to the Buyer true and correct copies of all policies relating to directors’ and officers’ liability coverage, errors
and omissions coverage, and commercial general liability coverage.

 

z. Bad
Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended on the basis
of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance Guide published
by the SEC.

 

    	14

     

    

 

aa. Shell
Status. The Company represents that it is not a “shell” issuer and that if it previously has been a “shell”
issuer, that at least twelve (12) months have passed since the Company has reported Form 10 type information indicating that it is no
longer a “shell” issuer. Further, the Company will instruct its counsel to either (i) write a 144- 3(a)(9) opinion
to allow for salability of the Conversion Shares or (ii) accept such opinion from Holder’s counsel.

 

bb.
No-Off Balance Sheet Arrangements. There is no transaction, arrangement, or other relationship between the Company or any of its
Subsidiaries and an unconsolidated or other off balance sheet entity that is required to be disclosed by the Company in its Exchange
Act filings and is not so disclosed or that otherwise could be reasonably likely to have a Material Adverse Effect.

 

cc. Manipulation
of Price. The Company has not, and to its knowledge no one acting on its behalf has: (i) taken, directly or indirectly, any action
designed to cause or to result, or that could reasonably be expected to cause or result, in the stabilization or manipulation of the
price of any security of the Company to facilitate the sale or resale of any of the Securities; (ii) sold, bid for, purchased, or paid
any compensation for soliciting purchases of, any of the Securities; or (iii) paid or agreed to pay to any person any compensation for
soliciting another to purchase any other securities of the Company.

 

dd. Sarbanes-Oxley
Act. The Company and each Subsidiary is in material compliance with all applicable requirements of the Sarbanes-Oxley Act of 2002
that are effective as of the date hereof, and all applicable rules and regulations promulgated by the SEC thereunder that are effective
as of the date hereof.

 

ee. Employee
Relations. Neither the Company nor any of its Subsidiaries is a party to any collective bargaining agreement or employs any member
of a union. The Company believes that its and its Subsidiaries’ relations with their respective employees are good. No executive
officer (as defined in Rule 501(f) promulgated under the Securities Act) or other key employee of the Company or any of its Subsidiaries
has notified the Company or any such Subsidiary that such officer intends to leave the Company or any such Subsidiary or otherwise terminate
such officer’s employment with the Company or any such Subsidiary. To the knowledge of the Company, no executive officer or other
key employee of the Company or any of its Subsidiaries is, or is now expected to be, in violation of any material term of any employment
contract, confidentiality, disclosure or proprietary information agreement, non-competition agreement, or any other contract or agreement
or any restrictive covenant, and the continued employment of each such executive officer or other key employee (as the case may be) does
not subject the Company or any of its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and its
Subsidiaries are in compliance with all federal, state, local and foreign laws and regulations respecting labor, employment and employment
practices and benefits, terms and conditions of employment and wages and hours, except where failure to be in compliance would not, either
individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.

 

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ff. Breach
of Representations and Warranties by the Company. The Company agrees that if the Company breaches any of the representations or warranties
set forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement and it being
considered an Event of Default under Section 3.5 of the Note, the Company shall pay to the Buyer the Standard Liquidated Damages
Amount in cash or in shares of Common Stock at the option of the Company, until such breach is cured. If the Company elects to pay the
Standard Liquidated Damages Amounts in shares of Common Stock, such shares shall be issued at the Conversion Price in effect at the time
of payment.

 

4. COVENANTS.

 

a. Best
Efforts. The parties shall use their respective best efforts to satisfy timely each of the conditions described in Section 7
and 8 of this Agreement.

 

b. Form
D; Blue Sky Laws. If requested by Buyer, the Company agrees to file a Form D with respect to the Securities as required under Regulation
D and to provide a copy thereof to the Buyer promptly after such filing. The Company shall, on or before the Closing Date, take such
action as the Company shall reasonably determine is necessary to qualify the Securities for sale to the Buyer at the applicable closing
pursuant to this Agreement under applicable securities or “blue sky” laws of the states of the United States (or to
obtain an exemption from such qualification), and shall provide evidence of any such action so taken to the Buyer on or prior to the
Closing Date.

 

c. Use
of Proceeds. The Company shall use the proceeds from the sale of the Note for working capital, other general corporate purposes,
and shall not, directly or indirectly, use such proceeds for any loan to or investment in any other corporation, partnership, enterprise
or other person (except in connection with its currently existing direct or indirect Subsidiaries).

 

d. Reserved.

 

e. Expenses.
The Company shall reimburse the Buyer for any and all expenses incurred by them in connection with the negotiation, preparation, execution,
delivery and performance of this Agreement and the other agreements to be executed in connection herewith (“Documents”),
including, without limitation, reasonable attorneys’ and consultants’ fees and expenses, transfer agent fees, fees for stock
quotation services, fees relating to any amendments or modifications of the Documents or any consents or waivers of provisions in the
Documents, fees for the preparation of opinions of counsel, escrow fees, and costs of restructuring the transactions contemplated by
the Documents. When possible, the Company must pay these fees directly, including, but not limited to, any and all wire fees, otherwise
the Company must make immediate payment for reimbursement to the Buyer for all fees and expenses immediately upon written notice by the
Buyer or the submission of an invoice by the Buyer. At Closing, the Company’s initial obligation with respect to this transaction
is to reimburse Buyer’s legal expenses of $12,500 plus the cost of wire fees and $6,000 to the Buyer for management due diligence
fees.

 

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f. Financial
Information. The Company agrees to send or make available the following reports to the Buyer until the Buyer transfers, assigns,
or sells all of the Securities: (i) within ten (10) days after the filing with the SEC, a copy of its Annual Report on Form 10-K its
Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K; (ii) within one (1) day after release, copies of all press releases
issued by the Company or any of its Subsidiaries; and (iii) contemporaneously with the making available or giving to the shareholders
of the Company, copies of any notices or other information the Company makes available or gives to such shareholders. For the avoidance
of doubt, filing the documents required in (i) above via EDGAR or releasing any documents set forth in (ii) above via a recognized wire
service shall satisfy the delivery requirements of this Section 4(f).

 

g. Listing.
The Company shall promptly secure the listing of the Conversion Shares upon each national securities exchange or automated quotation
system, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance) and, so long as the Buyer
owns any of the Securities, shall maintain, so long as any other shares of Common Stock shall be so listed, such listing of all Conversion
Shares from time to time issuable upon conversion of the Note. The Company will obtain and, so long as the Buyer owns any of the Securities,
maintain the listing and trading of its Common Stock on the OTC Pink, OTCQB or any equivalent replacement exchange, the Nasdaq Global
Market, the Nasdaq Capital Market, the New York Stock Exchange or the NYSE American and will comply in all respects with the Company’s
reporting, filing and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority (“FINRA”)
and such exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any material notices it receives from the
OTC Pink, OTCQB and any other exchanges or quotation systems on which the Common Stock is then listed regarding the continued eligibility
of the Common Stock for listing on such exchanges and quotation systems. The Company shall pay any and all fees and expenses in connection
with satisfying its obligation under this Section 4(g).

 

h. Corporate
Existence. So long as the Buyer beneficially owns any of the Securities, the Company shall maintain its corporate existence and shall
not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or substantially
all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the Company’s obligations
hereunder and under the agreements and instruments entered into in connection herewith; and (ii) is a publicly traded corporation whose
Common Stock is listed for trading on the OTC Pink, OTCQB, the Nasdaq Global Market. The Nasdaq Capital Market, the New York Stock Exchange
or NYSE AMEX.

 

i. No
Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances that
would require registration of the Securities being offered or sold hereunder under the Securities Act or cause the offering of the Securities
to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval provision applicable
to the Company or its securities.

 

    	17

     

    

 

j. Failure
to Comply with the Exchange Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the reporting requirements
of the Exchange Act; and the Company shall continue to be subject to the reporting requirements of the Exchange Act.

 

k. Restriction
on Activities. Commencing as of the date first above written, and until the sooner of the twelve (12) month anniversary of the date
first written above or payment of the Note in full, or full conversion of the Note, the Company shall not, directly or indirectly, without
the Buyer’s prior written consent, which consent shall not be unreasonably withheld: (a) change the nature of its business; (b)
sell, divest, acquire, change the structure of any material assets other than in the ordinary course of business; or (c) solicit any
offers for, respond to any unsolicited offers for, or conduct any negotiations with any other person or entity in respect of any variable
rate debt transactions (i.e., transactions were the conversion or exercise price of the security issued by the Company varies based on
the market price of the Common Stock), whether a transaction similar to the one contemplated hereby or any other investment.

 

l. Legal
Counsel Opinions. Upon the request of the Buyer from to time to time, the Company shall be responsible (at its cost) for promptly
supplying to the Company’s transfer agent and the Buyer a customary legal opinion letter of its counsel (the “Legal Counsel
Opinion”) to the effect that the sale of Conversion Shares or the Warrant Shares (assuming a cashless exercise of the Warrant)
by the Buyer or its affiliates, successors and assigns is exempt from the registration requirements of the Securities Act pursuant to
Rule 144 (provided the requirements of Rule 144 are satisfied and provided the Conversion Shares are not then registered under the Securities
Act for resale pursuant to an effective registration statement) or other applicable exemption. Should the Company’s legal counsel
fail for any reason to issue the Legal Counsel Opinion, the Buyer may (at the Company’s cost) secure another legal counsel to issue
the Legal Counsel Opinion, and the Company will instruct its transfer agent to accept such opinion.

 

m. Par
Value. If the closing bid price at any time the Note is outstanding falls below $0.01, the Company shall cause the par value of its Common
Stock to be reduced to less than $0.01.

 

n. Breach
of Covenants. The Company agrees that if the Company breaches any of the covenants set forth in this Section 4, and in addition to
any other remedies available to the Buyer pursuant to this Agreement, it will be considered an Event of Default under Section 3.4
of the Note, the Company shall pay to the Buyer the Standard Liquidated Damages Amount in cash or in shares of Common Stock at the
option of the Buyer, until such breach is cured, or with respect to Section 4(d) above, the Company shall pay to the Buyer the
Standard Liquidated Damages Amount in cash or shares of Common Stock, at the option of the Buyer, upon each violation of such provision.
If the Company elects to pay the Standard Liquidated Damages Amounts in shares of Common Stock, such shares shall be issued at the Conversion
Price in effect at the time of payment.

 

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o. Incentive
Fee Shares.

 

(i) Initial
Issuance. As part of the Incentive Fee payable by the Company to the Buyer hereunder, the Company shall issue to the Buyer the Warrant
and $900,000 of shares of its Common Stock issuing to Buyer that number of shares of the Company’s Common Stock equal to such amount.
It is agreed that the number of shares of Common Stock issuable to Buyer under this Section 4(o) at Closing shall be 4,500,000
shares (the “Incentive Fee Shares”). The Company shall instruct its transfer agent (the “Transfer Agent”)
at Closing to issue at Closing (A) one (1) certificate or book entry statement representing 2,500,000 Incentive Fee Shares at Closing;
and (B) one certificate or book entry statement representing 2,000,000 Incentive Fee Shares. The Buyer shall never be in possession of
an amount of Common Stock greater than 4.99% of the issued and outstanding Common Stock of the Company provided, however that this ownership
restriction described in this Section 4(o) may be waived by Buyer, in whole or in part, upon 61 days’ prior written notice.
In the event that the certificates or book entry statements representing the Incentive Fee Shares are not delivered to the Buyer within
three (3) Business Days of Closing, such failure shall be an immediate Event of Default under this Agreement, the Note, the Warrant,
the Security Agreement and all other agreements, certificates and documents, delivered hereunder or thereunder or otherwise referenced
herein (collectively, the “Transaction Documents”). Incentive Fee Shares.. The Incentive Fee Shares and Warrant Shares,
when issued, shall be deemed to be validly issued, fully paid, and non-assessable shares of the Company’s Common Stock. The Incentive
Fee Shares and Warrant Shares shall be deemed fully earned as of the date hereof, regardless of the amount or number of loans made under
the Note.

 

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(ii) Adjustments.
It is the intention of the Company and the Buyer that the Buyer shall be able to sell (if Buyer so elects, in Buyer’s sole and
absolute discretion) the Incentive Fee Shares, and generate net proceeds (net of all brokerage commissions and other fees or charges
payable by Buyer in connection with the sale thereof) from such sale equal to $900,000 (the “Incentive Fee Cash Amount”).
The Buyer shall use its best efforts to sell the Incentive Fee Shares in the principal trading market of the Company’s Common Stock
or otherwise, at any time in accordance with applicable securities laws. At any time the Buyer may elect during the period beginning
on the date which is the six (6) month anniversary of the Closing Date and ending on the date which is the thirty-six (36) month anniversary
of the Closing Date (the “Adjustment Period”), the Buyer may deliver to the Company a reconciliation statement showing
the net proceeds actually received by the Buyer from the sale of 100% of the Incentive Fee Shares (the “Sale Reconciliation”).
If, as of the date of the delivery by Buyer of the Sale Reconciliation, the Buyer has not realized net proceeds from the sale of such
Incentive Fee Shares equal to at least the Incentive Fee Cash Amount, as shown on the Sale Reconciliation, then the Company shall either
pay in cash the applicable shortfall amount or immediately take all required action necessary or required in order to cause the issuance
of additional shares of Common Stock (based upon the average VWAP of such Securities for the five (5) days prior to such issuance) to
the Buyer in an amount sufficient such that, when sold and the net proceeds thereof are added to the net proceeds from the sale of any
of the previously issued and sold Incentive Fee Shares, the Buyer shall have received total net funds equal to the Incentive Fee Cash
Amount. If additional shares of Common Stock are issued pursuant to the immediately preceding sentence, and after the sale of such additional
issued shares of Common Stock, the Buyer still has not received net proceeds equal to at least the Incentive Fee Cash Amount, then the
Company shall again be required to immediately pay in cash the applicable shortfall amount or take all required action necessary or required
in order to cause the issuance of additional shares of Common Stock to the Buyer as contemplated above, and such additional issuances
shall continue until the Buyer has received net proceeds from the sale of such Common Stock equal to the Incentive Fee Cash Amount. In
the event additional Common Stock is required to be issued as outlined above, the Company shall instruct its Transfer Agent to issue
certificates or book entry statements representing such additional shares of Common Stock to the Buyer immediately subsequent to the
Buyer’s notification to the Company that additional shares of Common Stock are issuable hereunder, and the Company shall in any
event cause its Transfer Agent to deliver such certificates or book entry statements to Buyer within three (3) Business Days following
the date Buyer notifies the Company that additional shares of Common Stock are to be issued hereunder. In the event such certificates
or book entry statements representing such additional shares of Common Stock issuable hereunder shall not be delivered to the Buyer within
said three (3) Business Day period, same shall be an immediate default under this Agreement and the Transaction Documents. Nothing herein
contained shall be interpreted to in any way limit the net proceeds from the sale of the Incentive Fee Shares which shall be generated
by the Buyer. The Company’s obligation to pay the Incentive Fee contemplated by this Section 4(o) thru the issuance and
sale of Incentive Fee Shares, shall be an obligation hereunder, secured by all the Transaction Documents. For the purposes of this Agreement,
“VWAP” means, for any date, the price determined by the first of the following clauses that applies: (A) if the Common
Stock is then listed or quoted on the principal trading market, the daily volume weighted average price of the Common Stock for such
date (or the nearest preceding date) on the principal trading market on which the Common Stock is then listed or quoted as reported by
Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)); (B) if OTCQB or OTCQX
is not the principal trading market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date)
on OTCQB or OTCQX as applicable; (C) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for
the Common Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share
of Common Stock as determined by an independent appraiser selected in good faith by the Buyer and reasonably acceptable to the Company,
the fees and expenses of which shall be paid by the Company.

 

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(iii) Redemption.
In the event that the Note has been repaid in full (including accrued and unpaid interest) on or prior to the date that is six (6)
months from the date hereof, the Company shall have the right to redeem 2,500,000 Incentive Fee Shares (as adjusted for stock splits,
stock dividends or similar events) which were originally issued (the “Redeemable Incentive Fee Shares”) for an amount
payable by the Company to the Buyer in cash of an aggregate of one dollar ($1.00). Upon Buyer’s receipt of such cash payment in
accordance with the immediately preceding sentence, the Redeemable Incentive Fee Shares shall be immediately redeemed without any further
action on the part of the Company or the Buyer. Notwithstanding the foregoing, in the event of a redemption pursuant hereto, the adjustments
permitted pursuant to Section 4(o)(i) shall not reduce the amounts owing pursuant hereto or the shares of Common Stock to be issued
in connection therewith.

 

p. SEC
Disclosures. The Company agrees to include disclosure of this Agreement and the transactions contemplated herein, including, without
limitation, the name of the Buyer, in its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and any Current Reports on
Form 8-K (as applicable).

 

q. Registration
Statement. No later than ninety (90) days from the Closing Date, the Company shall prepare and file with the SEC a registration statement
covering the resale of all of the Incentive Fee Shares, Conversion Shares and Warrant Shares, which shall be declared effective no later
than one hundred eighty (180) days from the date of this Agreement (the “Registration Effective Date”). The foregoing
registration statement shall be filed on Form S-1 or any successor forms thereto. The registration statement (and each amendment or supplement
thereto, and each request for acceleration of effectiveness thereof) shall be provided to the Buyer and its counsel at least five (5)
Business Days prior to its filing or other submission and the Company shall incorporate all reasonable comments provided by the Buyer
or its counsel. Except as otherwise expressly provided herein, the Company will pay all fees and expenses incident to the performance
of or compliance with this Section, including all fees and expenses associated with effecting the registration of the Conversion Shares,
Incentive Fee Shares and Warrant Shares, including all filing and printing fees, the Company’s counsel and accounting fees and
expenses, costs associated with clearing the Conversion Shares, Incentive Fee Shares and Warrant Shares for sale under applicable state
securities laws, listing fees, fees and expenses of one counsel to the Buyer and the Buyer’s reasonable expenses in connection
with the registration, but excluding discounts, commissions, fees of underwriters, selling brokers, dealer managers or similar securities
industry professionals with respect to the Conversion Shares, Incentive Fee Shares and Warrant Shares being sold. The Company shall notify
the Buyer by e-mail as promptly as practicable, and in any event, within twenty-four (24) hours, after the registration statement is
declared effective and shall simultaneously provide the Buyer with copies of any related prospectus to be used in connection with the
sale or other disposition of the securities covered thereby.

 

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r. Negative
Covenant. The Company shall not, directly or indirectly, issue or sell any Common Stock, or any securities that are convertible into,
exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock, without the prior written consent
of the Buyer; provided, however, subject to the following:

 

 (i) Participation
in Subsequent Financing. The Buyer shall have the first right to purchase the securities offered in any Subsequent Financing (“Subsequent
Financing Securities”) in any amount equal to up to 100% of the Subsequent Financing (the “Participation Maximum”)
on substantially the same terms, conditions and price provided for in the Subsequent Financing (“Subsequent Financing Terms”).
Between five (5) and ten (10) Trading Days prior to the closing of any Subsequent Financing, the Company shall deliver to Buyer a written
notice of its intention to effect a Subsequent Financing (“Pre-Notice”), which Pre-Notice shall request that the Buyer
advise the Company if Buyer wishes to receive and review an additional notice that includes details of such Subsequent Financing as specified
below (such additional notice, a “Subsequent Financing Notice”). Upon the request of Buyer, and only upon a request
by Buyer, for a Subsequent Financing Notice, the Company shall promptly, but no later than one Trading Day after such request, deliver
a Subsequent Financing Notice to Buyer. The Subsequent Financing Notice shall: (A) describe in reasonable detail the Subsequent Financing
Securities and Subsequent Financing Terms of the Subsequent Financing, including tenor, security, equity components, fees, the amount
of proceeds intended to be raised thereunder (or minimum and maximum amounts) and the Person or Persons through or with whom such Subsequent
Financing is proposed to be effected; and (B) include a term sheet or similar document relating to the Subsequent Financing as an attachment.
If Buyer wishes to participate in such Subsequent Financing must provide written notice to the Company by not later than 5:30 p.m. (New
York City time) on the fifth Trading Day after Buyer has received the Pre-Notice (the “Notice Termination Time”) that
it is willing to participate in the Subsequent Financing, the amount of its desired participation (up to the Participation Maximum),
and representing and warranting that Buyer has such funds ready, willing, and available for such investment on the terms and conditions
set forth in the Subsequent Financing Notice. If the Company receives no such notice from Buyer as of the Notice Termination Time, Buyer
shall be deemed to have notified the Company that it does not elect to participate in the Subsequent Financing. If by the Notice Termination
Time, notification by Buyer of its willingness to participate in the Subsequent Financing is less than the total amount of the Participation
Maximum, then the Company may effect the remaining portion of such Subsequent Financing on the terms and with the Person or Persons set
forth in the Subsequent Financing Notice.

 

(ii) Most
Favored Nation. Buyer, whether or not participating in a particular Subsequent Financing, shall have the right, exercisable at any
time prior to the Notice Termination Time for such Subsequent Financing, to accept Subsequent Financing Securities and the Subsequent
Financing Terms of such Subsequent Financing in lieu of the Securities and the terms of this Agreement (“MFN Right”).
If the Company receives such notice from Buyer of the exercise of its MFN Right as of the Notice Termination Time for such Subsequent
Financing, then: (A) effective upon the closing of such Subsequent Financing, the terms of the securities (and, if and to the extent
relevant, the underlying securities) then held by Buyer and this Agreement (collectively, “Present Terms”) shall automatically
be amended by (i) substituting the form, mix and terms of such securities (and, if and to the extent relevant, the underlying securities)
with those of the Subsequent Financing Securities and ii) incorporating by reference, mutatis mutandis, the Subsequent Financing
Terms in lieu of the Present Terms; and (B) thereafter, upon the reasonable request of the Company or Buyer, the parties shall reasonably
cooperate with each other in order to further or better evidence or effect such substitution(s) and amendment(s), and to otherwise carry
out the intent and purposes of this Section, including the physical exchange of securities for Subsequent Financing Securities.

 

    	22

     

    

 

(iii) Other
Issuances. Notwithstanding anything to the contrary contained herein, if the Company, at any time while the Note or any amounts due
hereunder are outstanding, issues, sells or grants any option to purchase, or sells or grants any right to reprice, or otherwise disposes
of, or issues (or has sold or issued, as the case may be, or announces any sale, grant or any option to purchase or other disposition),
any Common Stock or other securities convertible into, exercisable for, or otherwise entitle any person or entity the right to acquire,
shares of Common Stock, in each or any case at an effective price per share that is fifty (50%) percent lower than the price per share
of the Incentive Fee Shares (such lower price, the “Base Price” and such issuances, collectively, a “Dilutive
Issuance”) (it being agreed that if the holder of the Common Stock or other securities so issued shall at any time, whether
by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to
warrants, options or rights per share which are issued in connection with such issuance, be entitled to receive shares of Common Stock
at an effective price per share that is lower than the Base Price, such issuance shall be deemed to have occurred for less than the Base
Price on such date of the Dilutive Issuance), then the price per share of the Incentive Fee Shares shall be reduced, at the option of
the Buyer, to a price equal to the Base Price and the Company shall issue additional shares of common stock to fulfill any shortfall
to the Incentive Fee.

 

s. Piggy-Back
Registration. If the Company proposes to register any of its Common Stock, it will give prompt written notice to the Buyer of its
intention to effect such registration (the “Incidental Registration”). Within ten Business Days of receiving such
written notice of an Incidental Registration, the Buyer may make a written request (the “Piggy-Back Request”) that
the Company include in the proposed Incidental Registration all, or a portion, of the shares owned by the Buyer (which Piggy-Back Request
shall set forth the number of shares intended to be disposed of by the Buyer and the intended method of disposition thereof). The Company
will use its commercially reasonable efforts to include in any Incidental Registration all shares which the Company has been requested
to register pursuant to any timely Piggy-Back Request, to the extent required to permit the disposition (in accordance with the intended
methods thereof as aforesaid) of the shares so to be registered.

 

5. Reserved.

 

6. Transaction
Expense Amount. Upon Closing, the Company shall pay Buyer’s legal counsel the Buyer’s legal fees incurred in connection
herewith pursuant to Section 4(e), which amount shall be offset against the proceeds of the Note and shall be paid to Buyer at
Closing.

 

    	23

     

    

 

7. Transfer
Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent to issue certificates, registered in the
name of the Buyer or its nominee, for the Conversion Shares in such amounts as specified from time to time by the Buyer to the Company
upon conversion of the Note in accordance with the terms thereof and for the Warrant Shares in such amounts as specified from time to
time by the Buyer to the Company upon exercise of the Warrant in accordance with the terms thereof (the “Irrevocable Transfer
Agent Instructions”). In the event that the Company proposes to replace its transfer agent, the Company shall provide, prior
to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered
pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved
Amount) signed by the successor transfer agent to Company and the Company. Prior to registration of the Conversion Shares and the Warrant
Shares under the Securities Act or the date on which the Conversion Shares and the Warrant Shares may be sold pursuant to Rule 144 or
other applicable exemption without any restriction as to the number of Securities as of a particular date that can then be immediately
sold, all such certificates shall bear the restrictive legend specified in Section 2(g) of this Agreement. The Company warrants that:
(i) no instruction other than the Irrevocable Transfer Agent Instructions referred to in this Section, and stop transfer instructions
to give effect to Section 2(f) hereof (in the case of the Conversion Shares, prior to registration of the Conversion Shares under the
Securities Act or the date on which the Conversion Shares may be sold pursuant to Rule 144 or other applicable exemption without any
restriction as to the number of Securities as of a particular date that can then be immediately sold and in the case of the Warrant Shares
prior to registration of the Warrant Shares under the Securities Act or the date on which the Warrant Shares may be sold pursuant to
Rule 144 or other applicable exemption without any restriction as to the number of Securities as of a particular date that can then be
immediately sold), will be given by the Company to its transfer agent and that the Securities shall otherwise be freely transferable
on the books and records of the Company as and to the extent provided in this Agreement and the Note; (ii) it will not direct its transfer
agent not to transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing)(electronically or in certificated
form) any certificate for Conversion Shares or the Warrant Shares under the Securities Act or the date on which the Conversion Shares
are to be issued to the Buyer upon conversion of or otherwise pursuant to the Note or the Warrant Shares are to be issued to the Buyer
upon exercise of the Warrant as and when required by the Note and this Agreement; and (iii) it will not fail to remove (or directs its
transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw
any stop transfer instructions in respect thereof) on any certificate for any Conversion Shares issued to the Buyer upon conversion of
or otherwise pursuant to the Note as and when required by the Note and this Agreement or any Warrant Shares issued to the Buyer upon
exercise of or otherwise pursuant to the Warrant as and when required by the Warrant. Nothing in this Section 7 shall affect in
any way the Buyer’s obligations and agreement set forth in Section 2(g) hereof to comply with all applicable prospectus
delivery requirements, if any, upon re-sale of the Securities. If the Buyer provides the Company, at the cost of the Company, with (i)
an opinion of counsel in form, substance and scope customary for opinions in comparable transactions, to the effect that a public sale
or transfer of such Securities may be made without registration under the Securities Act and such sale or transfer is effected or (ii)
the Buyer provides reasonable assurances that the Securities can be sold pursuant to Rule 144 or other applicable exemption, the Company
shall permit the transfer, and, in the case of the Conversion Shares and the Warrant Shares, promptly instruct its transfer agent to
issue one or more certificates, free from restrictive legend, in such name and in such denominations as specified by the Buyer. The Company
acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer, by vitiating the intent and purpose
of the transactions contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations
under this Section may be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions of this
Section, that the Buyer shall be entitled, in addition to all other available remedies, to an injunction restraining any breach and requiring
immediate transfer, without the necessity of showing economic loss and without any bond or other security being required.

 

    	24

     

    

 

8. CONDITIONS
PRECEDENT TO THE COMPANY’S OBLIGATIONS TO SELL. The obligation of the Company hereunder to issue and sell the Note to the Buyer
at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions thereto, provided that
these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion:

 

a. The
Buyer shall have executed and delivered this Agreement to the Company.

 

b. The
Buyer shall have paid the Purchase Price to the Company in accordance with Section 1(c) above.

 

c. The
Buyer shall have delivered to the Company duly executed copies of the other Transaction Documents to which the Buyer is a party.

 

d. The
representations and warranties of the Buyer shall be true and correct in all material respects as of the date when made and as of the
Closing Date as though made at that time (except for representations and warranties that speak as of a specific date), and the Buyer
shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this
Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

e. No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or
endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

9. CONDITIONS
PRECEDENT TO THE BUYER’S OBLIGATION TO PURCHASE. The obligation of the Buyer hereunder to purchase the Note and the Warrant
at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these
conditions are for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

a. The
Company shall have executed and delivered this Agreement to the Buyer.

 

    	25

     

    

 

b. The
Company shall have executed and delivered the Note to the Buyer.

 

c. The
Company shall have delivered to the Buyer the Incentive Fee Shares in accordance with Section 1(c) and Section 4(o) above.

 

d. The
Company shall have executed and delivered the Warrant to the Buyer (in such denominations as the Buyer shall request) and in accordance
with Section 1(c) above.

 

e. The
Irrevocable Transfer Agent Instructions, in form and substance satisfactory to the Buyer, shall have been delivered to and acknowledged
in writing by the Company’s Transfer Agent.

 

f. The
Company shall have delivered to the Buyer duly executed copies of the Security Agreement and the other Transaction Documents.

 

g. The
representations and warranties of the Company shall be true and correct in all material respects as of the date when made and as of the
Closing Date as though made at such time (except for representations and warranties that speak as of a specific date) and the Company
shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this
Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. The Buyer shall have received a
certificate or certificates, executed by the Chief Executive Officer of the Company, dated as of the Closing Date, to the foregoing effect
and as to such other matters as may be reasonably requested by the Buyer including, but not limited to certificates with respect to the
Company’s Certificate of Incorporation, By-laws and Board of Directors resolutions relating to the transactions contemplated hereby.

 

h. No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or
endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

i. No
event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company including but not limited
to a change in the Exchange Act reporting status of the Company or the failure of the Company to be timely in its Exchange Act reporting
obligations.

 

j. The
Conversion Shares and the Warrant Shares shall have been authorized for quotation on the OTC Pink, OTCQB or any similar quotation system
and trading in the Common Stock on the OTC Pink, OTCQB or any similar quotation system shall not have been suspended by the SEC or the
OTC Pink, OTCQB or any similar quotation system.

 

    	26

     

    

 

10. GOVERNING
LAW; MISCELLANEOUS.

 

a. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard to principles
of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Agreement,
the Note or any other agreement, certificate, instrument or document contemplated hereby shall be brought only in the state courts located
in the State of New York, County of New York or in the federal courts located in the State of New York, County of New York. The parties
to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert
any defense based on lack of jurisdiction or venue or based upon forum non conveniens. EACH PARTY HEREBY IRREVOCABLY WAIVES
ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR UNDER ANY OTHER TRANSACTION
DOCUMENT OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR ANY TRANSACTION CONTEMPLATED HEREBY
OR THEREBY. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and costs
at both the trial and appellate levels. In the event that any provision of this Agreement or any other agreement delivered in connection
herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to
the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision
which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any
agreement. Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action
or proceeding in connection with this Agreement or any other Transaction Document by mailing a copy thereof via registered or certified
mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall
be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

b. Counterparts;
Signatures by Facsimile. This Agreement may be executed in one or more counterparts (including by facsimile, .pdf or other electronic
transmission), each of which shall be deemed an original but all of which shall constitute one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to the other party. This Agreement, once executed by a party,
may be delivered to the other party hereto by facsimile transmission of a copy of this Agreement bearing the signature of the party so
delivering this Agreement.

 

c. Construction;
Headings. This Agreement shall be deemed to be jointly drafted by the Company and the Buyer and shall not be construed against any
person as the drafter hereof. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect
the interpretation of, this Agreement.

 

    	27

     

    

 

d. Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then such
provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such
statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect the validity or
enforceability of any other provision hereof.

 

e. Entire
Agreement; Amendments. This Agreement, the Note, the Warrant and the other Transaction Documents contain the entire understanding
of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither
the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this
Agreement may be waived or amended other than by an instrument in writing signed by the Buyer.

 

f. Notices.
Any notices or other communications required or permitted to be given under the terms of this Agreement that must be in writing will
be deemed to have been delivered (a) upon receipt, when delivered personally; (b) upon receipt, when sent by email; or (c) one (1) day
after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same.
The addresses for such communications shall be as set forth in the preamble to this Agreement. Each party shall provide five (5) business
days prior notice to the other party of any change in address in accordance with the provisions of this Section 10(f).

 

g. Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. Neither
the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the
other. Notwithstanding the foregoing, subject to Section 2(f), the Buyer may assign its rights hereunder to any person that purchases
Securities in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined under the
Exchange Act, without the consent of the Company.

 

h. Third
Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and
assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i. Survival.
The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the closing
hereunder not withstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees to indemnify and
hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as a result of or related
to any breach or alleged breach by the Company of any of its representations, warranties and covenants set forth in this Agreement or
any of its covenants and obligations under this Agreement, including advancement of expenses as they are incurred.

 

    	28

     

    

 

j. Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute
and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to
carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

k. No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party.

 

l. Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating the intent
and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a breach of its
obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions
of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies at law or in equity, and in addition
to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any breach of this Agreement and
to enforce specifically the terms and provisions hereof, without the necessity of showing economic loss and without any bond or other
security being required.

 

m. Publicity.
The Company, and the Buyer shall have the right to review a reasonable period of time before issuance of any press releases, SEC, OTC
Market or FINRA filings, or any other public statements with respect to the transactions contemplated hereby; provided, however,
that the Company shall be entitled, without the prior approval of the Buyer, to make any press release or SEC, OTC Market (or other applicable
trading market) or FINRA filings with respect to such transactions as is required by applicable law and regulations (although the Buyer
shall be consulted by the Company in connection with any such press release prior to its release and shall be provided with a copy thereof
and be given an opportunity to comment thereon).

 

    	29

     

    

 

n. Indemnification.
In consideration of the Buyer’s execution and delivery of this Agreement and acquiring the Securities hereunder, and in addition
to all of the Company’s other obligations under this Agreement, the Note, the Warrant or the other Transaction Documents, the Company
shall defend, protect, indemnify and hold harmless the Buyer and its stockholders, partners, members, officers, directors, employees
and direct or indirect investors and any of the foregoing persons’ agents or other representatives (including, without limitation,
those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”)
from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses
in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is
sought), and including reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred
by any Indemnitee as a result of, or arising out of, or relating to (i) any misrepresentation or breach of any representation or warranty
made by the Company in this Agreement or the Note or any other agreement, certificate, instrument or document contemplated hereby or
thereby; (ii) any breach of any covenant, agreement or obligation of the Company contained in this Agreement or the Note or any other
agreement, certificate, instrument or document contemplated hereby or thereby; or (iii) any cause of action, suit or claim brought or
made against such Indemnitee by a third party (including for these purposes a derivative action brought on behalf of the Company) and
arising out of or resulting from (A) the execution, delivery, performance or enforcement of this Agreement or the Note or any other agreement,
certificate, instrument or document contemplated hereby or thereby; (B) any transaction financed or to be financed in whole or in part,
directly or indirectly, with the proceeds of the issuance of the Securities; or (C) the status of the Buyer or holder of the Securities
as an investor in the Company pursuant to the transactions contemplated by this Agreement, other than in the case of this clause (C),
as result of the gross negligence, willful misconduct or violation of law by the Buyer or any Indemnitee. To the extent that the foregoing
undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction
of each of the Indemnified Liabilities that is permissible under applicable law.

 

    	30

     

    

 

IN
WITNESS WHEREOF, the Company and the Buyer have caused this Agreement to be duly executed as of the date first above written.

 

	THE
    COMPANY:	 
	 	 
	mPHASE
    tECHNOLOGIES, INC.	 
	 	                     	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	THE
    BUYER:	 
	 	 
	AJB
    Capital Investments, LLC	 
	 	 	 
	By:
    	 	 
	 	Ari
    Blaine, Partner	 

 

    	31

     

    

 

EXHIBIT
A

 

Form
of Make Whole Notice

 

INCENTIVE
FEE SHARES MAKE WHOLE NOTICE

 

Reference
is made to that certain Securities Purchase Agreement dated as of June __, 2022 (the “Purchase Agreement”), by and
between mPhase Technologies, Inc., a New Jersey corporation (the “Company”) and AJB Capital Investments, LLC,
a Delaware limited liability company (the “Buyer”). Pursuant to Section 4(o)(i) of the Purchase Agreement,
the undersigned hereby directs you to issue that number of shares of Common Stock constituting
the “Make Whole Amount” as set forth below, of the Borrower, within two days of the date hereof or the next
succeeding business day. No fee will be charged to the Buyer for any such issuance, except for transfer taxes, if any.

 

Box
Checked as to applicable instructions:

 

	 	☐	The
    Borrower shall electronically transmit the Common Stock issuable pursuant to this Incentive Fee Shares Make Whole Notice to the account
    of the undersigned or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).
	 	 	 
	 	 	Name
    of DTC Prime Broker:
	 	 	Account
    Number:
	 	 	 
	 	☐ 	The
    undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock set forth
    below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately below or,
    if additional space is necessary, on an attachment hereto:

 

Make
Whole Amount (number of shares of common stock to be issued) ______________

 

	AJB
    CAPITAL INVESTMENTS, LLC	 
	 	                	 
	By:
    	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	Date:
    	 	 

 

    	32Exhibit
10.1

 

PURCHASE
AND SALE AGREEMENT

 

BETWEEN

 

ETXENERGY,
LLC

 

AND

 

U.S.
ENERGY CORP.

 

DATED:
June 29, 2022

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	ARTICLE I DEFINITIONS	1
	 	 
	 	Section
    1.1 Certain Defined Terms	1
	 	 	 
	ARTICLE II PURCHASE AND SALE	1
	 	 
	 	Section
    2.1 Agreement to Purchase and Sell	1
	 	Section
    2.2 The Assets	1
	 	Section
    2.3 Excluded Assets	2
	 	Section
    2.4 Effective Time; Property Expenses and Revenues	3
	 	 	 
	ARTICLE III PURCHASE PRICE	4
	 	 
	 	Section
    3.1 Purchase Price	4
	 	Section
    3.2 Upward Adjustments to the Purchase Price	4
	 	Section
    3.3 Downward Adjustments to the Purchase Price	4
	 	Section
    3.4 Payment of the Purchase Price	5
	 	 	 
	ARTICLE IV TITLE AND ENVIRONMENTAL MATTERS AND CASUALTY LOSSES	6
	 	 
	 	Section
    4.1 Title Examination	6
	 	Section
    4.2 Seller’s Title	6
	 	Section
    4.3 Notice of Title Defects	7
	 	Section
    4.4 Remedies for Title Defects	8
	 	Section
    4.5 Title Defect Amounts	8
	 	Section
    4.6 Title Limitations	9
	 	Section
    4.7 Title Benefits	9
	 	Section
    4.8 Preferential Purchase Rights and Consents to Assign	10
	 	Section
    4.9 Environmental Assessment	11
	 	Section
    4.10 Environmental Defect Notice	12
	 	Section
    4.11 Remedies for Environmental Defects	13
	 	Section
    4.12 Environmental Limitations	13
	 	Section
    4.13 Casualty Loss	14
	 	 	 
	ARTICLE V REPRESENTATIONS AND WARRANTIES OF SELLER	15
	 	 
	 	Section
    5.1 Organization, Existence and Qualification	15
	 	Section
    5.2 Authority, Approval and Enforceability	15
	 	Section
    5.3 No Conflicts	15
	 	Section
    5.4 Asset Taxes	16
	 	Section
    5.5 Bankruptcy	16
	 	Section
    5.6 Foreign Person	16
	 	Section
    5.7 Brokers	16
	 	Section
    5.8 Preferential Rights	16
	 	Section
    5.9 Litigation	16
	 	Section
    5.10 Current Commitments	16

 

    	i

    	 

    

 

	 	Section
    5.11 Suspense Funds	16
	 	Section
    5.12 Consents	16
	 	Section
    5.13 Payment of Royalties	17
	 	Section
    5.14 Imbalances	17
	 	 	 
	ARTICLE VI REPRESENTATIONS AND WARRANTIES OF PURCHASER	17
	 	 
	 	Section
    6.1 Organization, Existence and Qualification	17
	 	Section
    6.2 Authority, Approval and Enforceability	17
	 	Section
    6.3 No Conflicts	18
	 	Section
    6.4 Bankruptcy	18
	 	Section
    6.5 Brokers	18
	 	Section
    6.6 Consents	18
	 	Section
    6.7 No Distribution	18
	 	Section
    6.8 Knowledge and Experience	18
	 	Section
    6.9 Regulatory	18
	 	Section
    6.10 Funds	19
	 	 	 
	ARTICLE VII PRE-CLOSING COVENANTS OF THE PARTIES	19
	 	 
	 	Section
    7.1 Operations	19
	 	Section
    7.2 Governmental Bonds	20
	 	Section
    7.3 Amendment of Schedules	21
	 	Section
    7.4 Indemnity Regarding Access	21
	 	 	 
	ARTICLE VIII PURCHASER’S CONDITIONS TO CLOSING	21
	 	 
	 	Section
    8.1 Representations	21
	 	Section
    8.2 Performance	22
	 	Section
    8.3 No Legal Proceedings	22
	 	Section
    8.4 Title Defects, Environmental Defects and Casualty Loss	22
	 	Section
    8.5 Closing Deliverables	22
	 	 	 
	ARTICLE IX SELLER’S CONDITIONS TO CLOSING	22
	 	 
	 	Section
    9.1 Representations	22
	 	Section
    9.2 Performance	22
	 	Section
    9.3 No Legal Proceedings	22
	 	Section
    9.4 Title Defects, Environmental Defects and Casualty Losses	22
	 	Section
    9.5 Closing Deliverables	23
	 	 	 
	ARTICLE X CLOSING	23
	 	 
	 	Section
    10.1 Time and Place of Closing	23
	 	Section
    10.2 Calculation of Adjusted Purchase Price	23
	 	Section
    10.3 Failure to Close	23
	 	Section
    10.4 Closing Obligations	23
	 	 	 
	ARTICLE XI POST-CLOSING OBLIGATIONS	24
	 	 
	 	Section
    11.1 Assumed Obligations	24

 

    	ii

    	 

    

 

	 	Section
    11.2 Purchaser’s Indemnity	25
	 	Section
    11.3 Seller’s Indemnity	26
	 	Section
    11.4 Regardless of Fault	26
	 	Section
    11.5 Limitation on Liability	26
	 	Section
    11.6 Exclusive Remedy	27
	 	Section
    11.7 Indemnification Procedures	27
	 	Section
    11.8 Survival	28
	 	Section
    11.9 Waiver of Right to Rescission	29
	 	Section
    11.10 Non-Compensatory Damages	29
	 	Section
    11.11 Insurance	29
	 	 	 
	ARTICLE XII CERTAIN ADDITIONAL AGREEMENTS	30
	 	 
	 	Section
    12.1 Post-Closing Settlement Statement	30
	 	Section
    12.2 Suspended Funds	30
	 	Section
    12.3 Receipts and Credits	31
	 	Section
    12.4 Records; Retention	31
	 	Section
    12.5 Recording	31
	 	Section
    12.6 Filing for Approvals	32
	 	Section
    12.7 Further Cooperation	32
	 	 	 
	ARTICLE XIII TAXES	32
	 	 
	 	Section
    13.1 Apportionment of Ad Valorem and Property Taxes	32
	 	Section
    13.2 Sales Taxes	33
	 	Section
    13.3 Severance and Production Taxes	33
	 	Section
    13.4 Cooperation	33
	 	Section
    13.5 Like-Kind Exchange	33
	 	Section
    13.6 IRS Form 8594	33
	 	 	 
	ARTICLE XIV DISCLAIMERS AND WAIVERS	34
	 	 
	 	Section
    14.1 Condition of the Assets	34
	 	Section
    14.2 Other Disclaimers by Seller	35
	 	 	 
	ARTICLE XV TERMINATION	36
	 	 
	 	Section
    15.1 Right of Termination	36
	 	Section
    15.2 Effect of Termination	36
	 	Section
    15.3 Return of Documentation and Confidentiality	37
	 	 	 
	ARTICLE XVI MISCELLANEOUS	37
	 	 
	 	Section
    16.1 Entire Agreement	37
	 	Section
    16.2 References and Rules of Construction	37
	 	Section
    16.3 Assignment	38
	 	Section
    16.4 Waiver	38
	 	Section
    16.5 Conflict of Law Jurisdiction, Venue	38
	 	Section
    16.6 Notices	38
	 	Section
    16.7 Timing.	39
	 	Section
    16.8 Confidentiality.	39

 

    	iii

    	 

    

 

	 	Section
    16.9 Publicity	39
	 	Section
    16.10 Use of Seller’s Names	40
	 	Section
    16.11 Severability	40
	 	Section
    16.12 Parties in Interest	40
	 	Section
    16.13 Conspicuousness	40
	 	Section
    16.14 Execution in Counterparts	40

 

EXHIBITS

 

	Exhibit A-1	Leases
	Exhibit A-2	Lands
	Exhibit A-3	Rights-of-Way
	Exhibit B	Wells
	Exhibit C	Allocated Values
	Exhibit D	Form of Assignment and Bill of Sale
	Exhibit E	Form of Non-Foreign Affidavit

 

SCHEDULES

 

	Schedule 2.2(e)	Inventory
	Schedule 2.3(p)	Excluded Equipment
	Schedule 3.2(d)	Imbalances (Underproduced Volumes)
	Schedule 3.3(h)	Imbalances (Overproduced Volumes)
	Schedule 5	Knowledge Persons
	Schedule 5.4	Asset Taxes
	Schedule 5.8	Preferential Rights
	Schedule 5.9	Litigation
	Schedule 5.10	Current Commitments
	Schedule 5.11	Suspense Funds
	Schedule 5.12	Consents
	Schedule 7.1	Operations
	Schedule 11.3(e)	Retained Litigation

 

    	iv

    	 

    

 

PURCHASE
AND SALE AGREEMENT

 

This
Purchase and Sale Agreement (this “Agreement”) is made as of June 29, 2022, by and between ETXENERGY, LLC, a Texas
Limited Liability Company, with an address of 5950 Berkshire Lane, Suite 1100, Dallas, Texas 75225 (“Seller”), and
U.S. Energy Corp., a Wyoming Corporation, with an address of 1616 Voss, Suite 725, Houston, Texas 77057 (“Purchaser”).
Seller and Purchaser are sometimes referred to in this Agreement collectively as the “Parties” and individually as
a “Party.”

 

WITNESSETH

 

WHEREAS,
Seller desires to sell to Purchaser the Assets (as defined below) and Purchaser is willing to purchase the Assets from Seller, upon the
terms and conditions as specifically set forth in this Agreement.

 

NOW
THEREFORE, in consideration of the mutual promises of the Parties contained in this Agreement, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

ARTICLE
I

DEFINITIONS

 

Section
1.1 Certain Defined Terms. Capitalized terms used in this Agreement shall have the meanings given such terms as set forth in Appendix
A attached to this Agreement.

 

ARTICLE
II

PURCHASE AND SALE

 

Section
2.1 Agreement to Purchase and Sell. At the Closing, and subject to the terms and conditions of this Agreement, Purchaser agrees
to purchase the Assets from Seller, and Seller agrees to sell, transfer and assign the Assets to Purchaser, effective as of the Effective
Time.

 

Section
2.2 The Assets. The term “Assets” shall mean all of Seller’s right, title and interest in and to the following,
less and except the Excluded Assets (as defined below):

 

(a)
the oil and gas leases described in Exhibit A-1 (the “Leases”) and all rights incident thereto and derived
therefrom, including overriding royalty interests, net profits interests, and other revenue interests therein, to the extent and only
to the extent relating to such lands described in Exhibit A-2 (the “Lands”), along with any reversionary interests
or contractual rights which may be exercised in and to the same.

 

(b)
the wells described in Exhibit B and all other wells (including all disposal or injection wells) located on any of the Leases
or on any other lease or lands with which any Lease has been unitized, whether such wells are producing, shut-in or abandoned (the “Wells”)

 

(c)
all rights and interests in, under or derived from all unitization or pooling agreements in effect with respect to any of the Leases
or Wells and the units created thereby (the “Units”);

 

    	1

    	 

    

 

(d)
all Rights-of-Way that are used in connection with the ownership or operation of any of the Leases, Wells, Units or other Assets, including
the Rights-of-Way set forth in Exhibit A-3;

 

(e)
all equipment, machinery, fixtures and other personal and mixed property, operational and nonoperational, known or unknown, located on
any of the Leases, Wells, Units or other Assets, that are primarily used or held for use in connection with the ownership, operation
or development of the Leases, Well, Units or other Assets, including the inventory set forth on Schedule 2.2(e), and pipelines,
gathering systems, well equipment, casing, tubing, pumps, motors, fixtures, machinery, compression equipment, flow lines, processing
and separation facilities, structures, materials and other items primarily used in the ownership, operation or development of the Leases,
Wells, Units or other Assets;

 

(f)
to the extent that they may be assigned, all Permits that are primarily used in connection with the ownership or operation of the other
Assets;

 

(g)
to the extent they may be assigned, the Existing Contracts; and

 

(h)
all Hydrocarbons attributable to the Leases, Wells and/or Units to the extent such Hydrocarbons were produced from and after the Effective
Time (subject to the Purchase Price adjustments set forth in Section 3.2(d) or Section 3.3(h)) and all Imbalances relating
to the Assets.

 

Section
2.3 Excluded Assets. The following are specifically excluded from the Assets and are reserved by Seller (collectively, “Excluded
Assets”):

 

(a)
all of Seller’s corporate minute books, financial records and other business records that relate to Seller’s business generally
(including the ownership and operation of the Assets);

 

(b)
all accounts, trade credits, accounts receivable, and all other proceeds, income or revenues attributable to the Assets with respect
to any period of time prior to the Effective Time;

 

(c)
all claims and causes of action, manufacturer’s and contractor’s warranties and other rights of Seller arising under or with
respect to any Existing Contracts that are attributable to periods of time prior to the Effective Time (including claims for adjustments
or refunds), except to the extent any of the foregoing relates to any of the Assumed Obligations or equipment and machinery which is
part of the Assets;

 

(d)
all rights and interests of Seller (i) under any policy or agreement of insurance, (ii) under any bond, or (iii) to any insurance or
condemnation proceeds or awards arising with respect to any period of time prior to the Effective Time;

 

(e)
all Hydrocarbons produced and sold from the Assets with respect to all periods prior to the Effective Time;

 

    	2

    	 

    

 

(f)
any claim, right or interest of Seller in or to any refunds or loss carry forwards, together with any interest due thereon or penalty
rebate arising therefrom, with respect to (i) any and all taxes based on net income imposed on Seller or any of its Affiliates with respect
to any period of time prior to the Effective Time, (ii) any Property Taxes allocable to Seller pursuant to Section 13.1 or (iii)
any Property Taxes attributable to the Excluded Assets;

 

(g)
all personal computers and associated peripherals and all radio and telephone equipment;

 

(h)
all documents and instruments of Seller that may be protected by an attorney-client or other privilege;

 

(i)
all data that cannot be disclosed to Purchaser as a result of confidentiality arrangements under agreements with third parties (provided
that Seller has used its commercially reasonable efforts to cause such confidentiality restrictions to be waived);

 

(j)
all audit rights arising under any of the Existing Contracts or otherwise with respect to any period prior to the Effective Time or to
any of the Excluded Assets, except with respect to any Imbalances;

 

(k)
all geophysical and other seismic and related technical data and information relating to the Assets;

 

(l)
documents prepared or received by Seller or its Affiliates with respect to (i) lists of prospective purchasers for such transactions
compiled by Seller or its Affiliates or their respective representatives, (ii) offers submitted by other prospective purchasers of the
Assets, (iii) analyses by Seller or its Affiliates or any of their respective representatives of any offers submitted by any prospective
purchaser, (iv) correspondence between or among Seller or its Affiliates or any of their respective representatives, on the one hand,
and any prospective purchaser other than Purchaser, on the other hand, and (v) correspondence among Seller or its Affiliates or any of
their respective representatives with respect to any other offers, the prospective purchasers, or the transactions contemplated by this
Agreement;

 

(m)
any offices, office leases, and any personal property located in or on such offices or office leases;

 

(n)
concurrent rights to use all Rights-of-Way but only to the extent Seller or any of its Affiliates currently uses such Rights-of-Way in
connection with its use, ownership or operation of assets other than the Assets;

 

(o)
any master service agreements, blanket agreements or similar contracts; and

 

(p)
the equipment set forth on Schedule 2.3(p).

 

Section
2.4 Effective Time; Property Expenses and Revenues. Subject to the terms hereof, ownership and possession of the Assets shall be
transferred from Seller to Purchaser at the Closing but effective as of the Effective Time. Except to the extent accounted for in the
adjustments to the Purchase Price made under Section 3.2 or Section 3.3 and without duplication of any such amounts: (a)
Seller shall remain entitled to all of the rights of ownership (including the right to all production, proceeds of production and other
proceeds) and shall remain responsible for all Property Expenses (in each case) attributable to the Assets for the period of time prior
to the Effective Time; and (b) from and after the occurrence of Closing, Purchaser shall be entitled to all of the rights of ownership
(including the right to all production, proceeds of production and other proceeds) and shall be responsible for all Property Expenses
(in each case) attributable to the Assets for the period of time from and after the Effective Time.

 

    	3

    	 

    

 

ARTICLE
III

PURCHASE PRICE

 

Section
3.1 Purchase Price. The purchase price for the Assets shall be ELEVEN MILLION EIGHT HUNDRED THOUSAND ($11,800,000) in cash or immediately
available funds in the form of an electronic wire transfer (the “Purchase Price”). The Purchase Price shall be allocated
among the Assets as set forth in Exhibit C (the “Allocated Values”).

 

Section
3.2 Upward Adjustments to the Purchase Price. The Purchase Price shall be adjusted upward by the following (without duplication):

 

(a)
the amount of all Property Expenses and other costs paid by Seller that are attributable to the Assets on and after the Effective Time
including royalties, rentals and similar charges and expenses and capital costs billed under applicable operating agreements and all
prepaid expenses, but excluding costs paid by Seller to cure and/or Remediate, as applicable, any Title Defects, Environmental Defects
or Casualty Losses, or to obtain any Required Consents or waiver of any Preferential Rights;

 

(b)
an amount equal to the value of (i) all Hydrocarbons attributable to the Assets in pipelines or in tanks (including inventory) above
the pipeline sales connection as of the Effective Time, plus (ii) line fill, in each case, such value to be based upon the contract price
in effect as of the Effective Time (or if no such contract is in effect, the market value in the area as of the Effective Time), less
applicable taxes and gravity adjustments;

 

(c)
the amount of any Property Taxes prorated to Purchaser under Section 13.1, but paid or payable by Seller;

 

(d)
an amount equal to the absolute value of the aggregate underproduced volumes of the Imbalances as set forth on Schedule 3.2(d),
if any, multiplied by $5.16 for gas imbalances and $83.00 for oil imbalances;

 

(e)
an amount equal to the value of all Title Benefits in accordance with Section 4.7 below;

 

(f)
any other upward adjustment agreed upon by Seller and Purchaser.

 

Section
3.3 Downward Adjustments to the Purchase Price. The Purchase Price shall be adjusted downward by the following (without duplication):

 

(a)
the amount of all proceeds and revenues received by Seller, if any, from and after the Effective Time up to the Closing that are attributable
to the Assets from and after the Effective Time (net of any royalties and any production, severance, sales or other similar taxes not
reimbursed to Seller by the purchaser of production);

 

    	4

    	 

    

 

(b)
an amount equal to the Allocated Value of each of the Assets that have been excluded from the transactions contemplated by this Agreement
pursuant to Section 4.4(b), Section 4.8(b), Section 4.8(c), Section 4.11(b) or Section 4.13(b)(ii);

 

(c)
subject to Section 4.6, if Seller makes the election under Section 4.4(c) with respect to any Title Defect, the Title Defect
Amount with respect to such Title Defect;

 

(d)
subject to Section 4.12, if Seller makes the election under Section 4.11(c) with respect to any Environmental Defect, the
Remediation Amount with respect to such Environmental Defect;

 

(e)
if Seller makes the election under Section 4.13(b)(iii) with respect to any Casualty Loss, the reduction in value of any Asset
that is attributable to such Casualty Loss;

 

(f)
an amount equal to the net amount of suspended funds Seller elects to transfer to Purchaser in accordance with Section 12.2;

 

(g)
the amount of all Property Taxes prorated to Seller in accordance with Section 13.1, but paid or payable by Purchaser.

 

(h)
an amount equal to the absolute value of the aggregate overproduced volumes of the Imbalances as set forth on Schedule 3.3(h),
multiplied by $5.16 for gas imbalances and $83.00 for oil imbalances; and

 

(i)
any other downward adjustment agreed upon by Seller and Purchaser.

 

Section
3.4 Payment of the Purchase Price. Purchaser shall pay the Purchase Price, as adjusted pursuant to Section 3.2 and Section
3.3 above (the “Adjusted Purchase Price”), as follows:

 

(a)
on the date this Agreement is executed by the Parties, Purchaser shall pay to Seller, by wire transfer of immediately available funds
to an account designated by Seller, the Deposit, which Deposit shall not bear interest. If the Closing occurs, the Deposit (without interest)
shall be credited towards the Purchase Price. If Closing does not occur the Deposit will be subject to the provisions of ARTICLE XV.

 

(b)
Purchaser shall pay to Seller at Closing, the Adjusted Purchase Price as determined in accordance with Section 10.2, and subject
to final adjustment pursuant to Section 12.1, less the Deposit. All such payments shall be by bank wire transfer of immediately
available funds to an account designated by Seller in the Preliminary Settlement Statement.

 

    	5

    	 

    

 

ARTICLE
IV

TITLE AND ENVIRONMENTAL MATTERS

AND CASUALTY LOSSES

 

Section
4.1 Title Examination. Subject to the indemnity provisions of Section 7.4 and subject to obtaining any consents or waivers
from third parties that are required pursuant to the terms of the Leases, Rights-of-Way and/or Existing Contracts, including any third
party operators of the Assets, within seven (7) business days of the execution of this Agreement , during Seller’s normal business
hours and without unreasonable disruption of Seller’s normal and usual operations, Seller shall make available to Purchaser at
Seller’s offices all title data in Seller’s or its Affiliates’ possession relating to the Assets, including title opinions,
abstracts of title, title status reports, division order files, and curative matters, the Existing Contracts, and records relating to
the payment of rentals, royalties, shut-in gas royalties, and other payments due under any Lease or Existing Contract provided, however,
that those items referenced above in this Section 4.1 that are subject to a valid legal privilege or to unwaived disclosure restrictions
shall be excluded. Purchaser shall be permitted, at its expense, to make copies of any of such title data. Purchaser shall be entitled
to perform or cause to be performed, at Purchaser’s expense, such additional title examination as Purchaser deems necessary or
appropriate.

 

Section
4.2 Seller’s Title.

 

(a)
General Disclaimer of Title Warranties and Representations. Except for the special warranty of title as set forth in Section
4.2(b) and without limiting Purchaser’s remedies for Title Defects set forth in this ARTICLE IV, Seller makes no warranty
or representation, express, implied, statutory or otherwise, with respect to title to any of the Assets and, Purchaser acknowledges and
agrees that Purchaser’s sole remedy for any defect of title, including any Title Defect, with respect to any of the Assets (i)
before Closing, shall be as set forth in Section 4.4 and (ii) after Closing, shall be pursuant to the special warranty of title
to the Wells contained in Section 4.2(b), subject to the provisions of Section 4.2(c), and Purchaser waives all other remedies.

 

(b)
Special Warranty of Title. Upon Closing, subject to Section 4.2(c), Seller hereby warrants and agrees to defend Defensible
Title to the Wells by, through or under Seller but not otherwise, subject, however, to the Permitted Encumbrances. Such special warranty
of title to the Wells shall be subject to the further limitations and provisions of Section 4.2(c).

 

(c)
Recovery on Special Warranty.

 

(i)
Purchaser’s Assertion of Title Warranty Breaches. From and after Closing, Purchaser shall furnish Seller a Title Defect
Notice meeting the requirements of Section 4.3 setting forth any matters which Purchaser intends to assert as a breach of the
special warranty of title to the Wells contained in Section 4.2(b). Seller shall have a reasonable opportunity, but not the obligation,
to cure any Title Defect asserted by Purchaser pursuant to this Section 4.2(c). Purchaser agrees to reasonably cooperate with
any attempt by Seller to cure any such breach of the special warranty of title.

 

    	6

    	 

    

 

(ii)
Limitations on Special Warranty. For purposes of the special warranty of title to the Wells contained in Section 4.2(b),
the value of the Assets set forth in Exhibit C shall be deemed to be the Allocated Value thereof, as adjusted pursuant to this
Agreement. Recovery on the special warranty of title to the Wells contained in Section 4.2(b) shall be limited to an amount (without
any interest accruing thereon) equal to the reduction in the Purchase Price to which Purchaser would have been entitled had Purchaser
asserted the Title Defect giving rise to such breach of the special warranty of title, as a Title Defect prior to Closing pursuant to
Section 4.3, in each case taking into account the Individual Title Defect Threshold and the Aggregate Title Defect Deductible.

 

(iii)
Purchaser shall not be entitled to protection under Seller’s special warranty of title to the Wells in Section 4.2(b), with
respect to (A) any matter of which Purchaser or any of its Affiliates had knowledge prior to the Defect Notice Date, or (B) any matter
reported to Seller after the one-year anniversary of the Closing Date.

 

Section
4.3 Notice of Title Defects. Purchaser shall notify Seller in writing of any Title Defect (each a “Title Defect Notice”)
as soon as practicable after Purchaser has knowledge thereof, but not later than 21 days from execution (the “Defect Notice
Date”). For all purposes of this Agreement and notwithstanding anything herein to the contrary (except for the special warranty
of title to the Wells contained in Section 4.2(b)), Purchaser shall be deemed to have waived, and Seller shall have no liability
for, any Title Defect that Purchaser fails to assert as a Title Defect by a Title Defect Notice received by Seller on or before the Defect
Notice Date. To be effective, each Title Defect Notice shall include (a) a detailed description of the alleged Title Defect, (b) the
Well affected by such Title Defect (each a “Title Defect Property”), (c) the Allocated Value of such Title Defect
Property, (d) supporting documents reasonably necessary for Seller to verify the existence of the alleged Title Defect, and (e) the amount
by which Purchaser reasonably believes the Allocated Value of such Title Defect Property is reduced by the alleged Title Defect. Seller
shall have the right, but not the obligation, to elect to attempt to cure any Title Defect set forth in a Title Defect Notice by written
notice to Purchaser prior to Closing and, if Seller so elects, then Seller shall have sixty (60) days following Closing in which to cure,
at Seller’s cost, the Title Defect. No adjustment to the Purchase Price will be made at Closing for any Title Defect that Seller
elects to attempt to cure pursuant to this Section 4.3 and the affected Well shall be assigned to Purchaser. If any such uncured
Title Defect remains uncured at the end of such 60 day period, then (except as provided in Section 4.4(a) or Section 4.4(b))
an adjustment to the Purchase Price in an amount equal to the applicable Title Defect Amount will be made as part of the Final Settlement
Statement.

 

    	7

    	 

    

 

Section
4.4 Remedies for Title Defects. Subject to Seller’s continuing right to dispute the existence of a Title Defect and/or the
Title Defect Amount asserted with respect thereto and subject to the Individual Title Defect Threshold and the Aggregate Title Defect
Deductible, with respect to any Title Defect that (i) Seller does not elect to attempt to cure or (ii) Seller elects to attempt to cure
but fails within sixty (60) days after Closing:

 

(a)
if such Title Defect is not of a nature that would prevent Purchaser from receiving the full Net Revenue Interest share of proceeds of
production for a particular Well as such interest is set forth on Exhibit B, Seller shall have the right, but not the obligation,
to elect to indemnify Purchaser against all Losses resulting from such Title Defect pursuant to an indemnity agreement in a form mutually
agreeable to the Parties, in which event the Purchase Price shall not be reduced and the affected Title Defect Property shall be transferred
to (or if after Closing, retained by) Purchaser notwithstanding and subject to such Title Defect;

 

(b)
at or prior to Closing, Seller shall have the right, but not the obligation, to elect to exclude the affected Title Defect Property from
the transactions contemplated hereby, in which event such Title Defect Property and all Assets directly relating thereto (but only to
the extent relating thereto) shall be excluded from the transactions contemplated hereby and the Purchase Price shall be reduced by the
Allocated Value of such Title Defect Property and related Assets; or

 

(c)
if both Section 4.4(a) and Section 4.4(b) above are not applicable, the affected Title Defect Property shall be transferred
to (or if after Closing, retained by) Purchaser notwithstanding and subject to the Title Defect and the Purchase Price shall be reduced
by the Title Defect Amount of such Title Defect Property as determined in accordance with Section 4.5 below.

 

Except
for Purchaser’s (i) rights under the special warranty of title to the Wells contained in Section 4.2(b) and (ii) rights
to terminate this Agreement pursuant to Section 15.1(d), the provisions set forth in this Section 4.4 shall be the sole
and exclusive right and remedy of Purchaser with respect to any Title Defect or any other title matter with respect to any Asset and
Purchaser hereby waives all other rights and remedies.

 

Section
4.5 Title Defect Amounts. The amount by which the Allocated Value of an affected Title Defect Property is reduced as a result of
the existence of a Title Defect shall be the “Title Defect Amount” and shall be determined in accordance with the
following:

 

(a)
if the Title Defect results in complete failure of title to a Title Defect Property with the effect that Seller has no ownership interest
in that Title Defect Property to which an individual Allocated Value is assigned, then the Purchase Price shall be decreased by the Allocated
Value for that Title Defect Property;

 

(b)
if the Title Defect is a decrease in Net Revenue Interest from the Net Revenue Interest set forth in Exhibit B for a Title Defect
Property, then the Title Defect Amount shall be equal to the product of the Allocated Value of that Title Defect Property multiplied
by a fraction, the numerator of which is the amount of Net Revenue Interest set forth in Exhibit B for that Title Defect Property
less the actual amount of the Net Revenue Interest for such Title Defect Property and the denominator of which is the Net Revenue Interest
set forth in Exhibit B for that Title Defect Property;

 

(c)
if the Title Defect is a lien, encumbrance or other charge on the Assets that is undisputed and liquidated in amount, then the Title
Defect Amount shall be the amount necessary to be paid to remove the Title Defect (but never more than the Allocated Value of the affected
Title Defect Property);

 

(d)
if Purchaser and Seller agree on the Title Defect Amount, then that amount shall be the Title Defect Amount;

 

    	8

    	 

    

 

(e)
if the Title Defect represents an obligation, Encumbrance upon or other defect in title to the Title Defect Property of a type not described
above, then the Title Defect Amount shall be determined by taking into account the Allocated Value of the Title Defect Property, the
portion of the Title Defect Property affected by the Title Defect, the legal effect of the Title Defect, the potential economic effect
of the Title Defect over the life of the Title Defect Property, the values placed upon the Title Defect by Purchaser and Seller and such
other reasonable factors as are necessary to make a proper evaluation; provided, however, that if such Title Defect is reasonably capable
of being cured, then the Title Defect Amount shall not be greater than the reasonable cost and expense of curing such Title Defect;

 

(f)
the Title Defect Amount with respect to a Title Defect Property shall be determined without duplication of any costs or losses included
in another Title Defect Amount hereunder;

 

(g)
if a Title Defect does not affect a Title Defect Property throughout the entire remaining productive life of such Title Defect Property,
such fact shall be taken into account in determining the Title Defect Amount; and

 

(h)
notwithstanding anything to the contrary herein, the aggregate Title Defect Amounts attributable to the effects of all Title Defects
upon any single Title Defect Property shall not exceed the Allocated Value of such Title Defect Property.

 

Section
4.6 Title Limitations. Notwithstanding anything to the contrary, (a) in no event shall there be any adjustments to the Purchase
Price or other remedies provided by Seller for any individual Title Defect for which the Title Defect Amount does not exceed One Half
Percent (0.5%) of the Purchase Price (the “Individual Title Defect Threshold”); and (b) in no event shall there be
any adjustments to the Purchase Price or other remedies provided by Seller for any Title Defect that exceeds the Individual Title Defect
Threshold unless the sum of the Title Defect Amounts of all such Title Defects that exceed the Individual Title Defect Threshold (excluding
any Title Defects cured by Seller) exceeds Two and One Half Percent (2.5%) of the Purchase Price (the “Aggregate Title Defect
Deductible”), after which point Purchaser shall be entitled to adjustments to the Purchase Price or other remedies only with
respect to such Title Defects in excess of such Aggregate Title Defect Deductible (after reducing the value of each such Title Defect
by the Individual Title Defect Threshold). For the avoidance of doubt, if Seller elects to exclude a Title Defect Property affected by
a Title Defect from the transactions contemplated hereby pursuant to the remedy set forth in Section 4.4(b) or indemnify Purchaser
with respect to any Title Defect pursuant to the remedy set forth in Section 4.4(a), then, after such election, the Title Defect
Amount and related Purchase Price adjustment relating to such excluded Assets or such Assets for which Seller has provided an indemnity
to Purchaser will not be counted towards the Aggregate Title Defect Deductible or for purposes of Section 8.4 and Section 9.4.

 

Section
4.7 Title Benefits. If Seller determines that the ownership of any Well entitles Seller to a larger net revenue interest or a smaller
working interest (without a corresponding decrease in the net revenue interest) than that set forth on Exhibit B (a “Title
Benefit”), then Seller shall notify Purchaser of such increase in writing on or before the Defect Notice Date, describing in
such notice with reasonable detail each alleged increase so discovered and a reasonable estimate of the value attributable to the applicable
Title Benefit. Purchaser shall also promptly furnish Seller with written notice of any Title Benefit that is discovered prior to the
Defect Notice Date by any of Purchaser’s or any of its Affiliate’s employees, title attorneys, landmen or other title examiners
while conducting Purchaser’s due diligence with respect to the Assets. The amount of any such Title Benefit (each, a “Title
Benefit Amount”) shall be determined in the same manner as provided in Section 4.5 with respect to Title Defects.

 

    	9

    	 

    

 

Section
4.8 Preferential Purchase Rights and Consents to Assign.

 

(a)
Seller, within fifteen (15) days following the date of execution of this Agreement, shall send to each holder of (i) a preferential purchase
right pertaining to any of the Assets (a “Preferential Right”) and (ii) a right to consent to assignment pertaining
to the Assets and the transactions contemplated hereby, a notice seeking a waiver of such Preferential Right or such holder’s consent
to the transactions contemplated hereby, as applicable, in accordance with the contractual provisions applicable to such right. In no
event shall Seller be required to incur any liability or pay any money in order to be in to obtain any such waiver or consent. Purchaser
shall cooperate with Seller in seeking to obtain such waivers of Preferential Rights and consents to assignment and will provide any
additional collateral or security to meet reasonable financial requirements demanded by counterparties in order to obtain waivers of
Preferential Rights and consents from such counterparties.

 

(b)
If, prior to Closing, any holder of a Preferential Right notifies Seller that it intends to consummate the purchase of the Assets to
which its Preferential Right applies or the time for exercising a Preferential Right has not expired and such Preferential Right has
not been exercised or waived, then those Assets subject to such Preferential Right shall be excluded from the Assets to be conveyed to
Purchaser under this Agreement (together with all Assets directly relating thereto but only to the extent relating thereto), and the
Purchase Price shall be reduced by the Allocated Values of all such excluded Assets and in such event, Seller shall be entitled to all
proceeds paid by any Person exercising such Preferential Right. If such holder of such Preferential Right thereafter fails to consummate
the purchase of the Assets subject to such Preferential Right in accordance with the terms thereof, the time for exercising such Preferential
Right has expired and such Preferential Right has not been exercised, or the Preferential Right has been waived, (i) Seller shall so
notify Purchaser, (ii) Purchaser shall purchase, on or before ten (10) Business Days following receipt of such notice, such Assets that
were so excluded from the Assets to be assigned to Purchaser at Closing, for a price equal to the amount by which the Purchase Price
was reduced at Closing with respect to such excluded Assets and on the same other terms of this Agreement, including the adjustments
in accordance with Section 3.2 and Section 3.3, and (iii) Seller shall assign to Purchaser such Assets so excluded at Closing
pursuant to an instrument in substantially the same form as the Assignment.

 

    	10

    	 

    

 

(c)
If Seller fails to obtain a Required Consent prior to Closing, then, in each case, the Asset affected by such un-obtained Required Consent
(together with all Assets directly relating thereto but only to the extent relating thereto) shall be excluded from the Assets to be
assigned to Purchaser at Closing, and the Purchase Price shall be reduced by the Allocated Value of such Assets so excluded. In the event
that any such Required Consent (with respect to Assets excluded pursuant to this Section 4.8(c)) that was not obtained prior to
the Closing Date is obtained within ninety (90) days following the Closing Date, then, within ten (10) Business Days after such Required
Consent is obtained, (i) Seller shall so notify Purchaser, (ii) Purchaser shall purchase, on or before ten (10) Business Days following
receipt of such notice, such Assets that were so excluded from the Assets to be assigned to Purchaser at Closing, for a price equal to
the amount by which the Purchase Price was reduced at Closing with respect to such excluded Assets and on the same other terms of this
Agreement, including the adjustments in accordance with Section 3.2 and Section 3.3, and (iii) Seller shall assign to Purchaser
the Assets so excluded at Closing pursuant to an instrument in substantially the same form as the Assignment. If, prior to Closing, Seller
fails to obtain a consent to assign and such consent to assign is not a Required Consent, then the Assets subject to such un-obtained
consent shall be assigned by Seller to Purchaser at Closing as part of the Assets and Purchaser shall have no claim against Seller, Purchaser
hereby releases and indemnifies the Seller Parties from any Losses relating to the failure to obtain such consent, and Purchaser shall
be solely responsible for any and all Losses arising from the failure to obtain such consent.

 

Section
4.9 Environmental Assessment.

 

(a)
Prior to the Defect Notice Date, and upon reasonable prior notice to Seller (and notice and consent of the operator(s) of any of the
Assets not operated by Seller or its Affiliates), and subject to the other provisions of this Section 4.9 and the indemnity provisions
of Section 7.4 below, Purchaser shall have the right to enter upon the Assets, inspect the same and conduct such tests, examinations,
investigations, and studies as may be necessary or appropriate to determine the environmental condition of the Assets (“Purchaser’s
Environmental Assessment”). Any such entry onto the Assets is subject to all third-party restrictions, if any, and to Seller’s
safety, health and environmental policies and procedures, including drug, alcohol and firearms restrictions, and shall be at Purchaser’s
sole risk and expense. Purchaser shall coordinate its access rights, environmental property assessments and physical inspections of the
Assets with Seller and all third party operators, as applicable, to minimize any inconvenience to or interruption of the conduct of business
by Seller or any such third party operator.

 

(b)
Notwithstanding anything herein to the contrary, for anything other than a Phase I environmental property assessment, Purchaser must
obtain Seller’s prior written consent (which consent may be withheld in Seller’s sole discretion) and any third party operator’s
consent as to the scope of any proposed environmental assessment, including testing protocols.

 

(c)
In conducting any assessment or inspection of the Assets, Purchaser shall not operate any equipment or (except with the prior written
consent of Seller, which consent may be withheld in Seller’s sole discretion, and any third party operator’s consent) conduct
any testing or sampling of soil, groundwater or other materials (including any testing or sampling for hazardous substances or NORM).

 

(d)
Seller or Seller’s designee shall have the right to be present during any stage of any inspection or assessment by Purchaser on
the Assets.

 

(e)
During all periods prior to Closing that Purchaser or any of its representatives (including Purchaser’s environmental consulting
or engineering firm) are on the Assets, Purchaser shall maintain, at its sole cost and expense, and with insurers reasonably satisfactory
to Seller, policies of insurance of the types and in the amounts reasonably requested by Seller. Coverage under all insurance required
to be carried by Purchaser hereunder will be primary insurance. Upon request by Seller, Purchaser shall provide evidence of such insurance
to Seller prior to entering the Assets.

 

    	11

    	 

    

 

(f)
Within five (5) days of Purchaser’s receipt (if performed by a third party) or completion thereof (if performed by Purchaser),
Purchaser shall deliver to Seller copies of all final reports, results, data and analyses of Purchaser’s Environmental Assessment.
Seller shall have no confidentiality obligation with regard to such information so provided and Seller shall not be deemed (by Seller’s
receipt of said documents or otherwise) to have made any representation or warranty, express, implied or statutory, as to the condition
of the Assets or to the accuracy of said documents or the information contained therein. All information and material collected during
Purchaser’s Environmental Assessment, together with all final reports, results, data and analyses thereof and all other information
provided to the Seller by Purchaser in the course of Purchaser’s Environmental Assessment and the results thereof will be subject
to the Confidentiality Agreement.

 

(g)
Upon completion of Purchaser’s due diligence, Purchaser shall at its sole cost and expense and without any cost or expense to Seller
or its Affiliates, (i) repair all damage done to the Assets (including the real property and other assets associated therewith) in connection
with Purchaser’s due diligence investigation, (ii) restore the Assets (including the real property and other assets associated
therewith) to at least the approximate same condition than they were prior to commencement of Purchaser’s due diligence investigation,
and (iii) remove all equipment, tools or other property brought onto the Assets in connection with such due diligence investigation.
Any disturbance to the Assets (including the real property and other assets associated therewith) resulting from the due diligence investigation
conducted by or on behalf of Purchaser will be promptly corrected by Purchaser.

 

Section
4.10 Environmental Defect Notice. If Purchaser determines, as a result of Purchaser’s Environmental Assessment or otherwise
that there exists an Environmental Defect, Purchaser shall notify Seller thereof in writing as soon as practicable after Purchaser has
knowledge thereof, but in any event prior to the Defect Notice Date (each an “Environmental Defect Notice”). For all
purposes of this Agreement and notwithstanding anything herein to the contrary, Purchaser shall be deemed to have waived, and Seller
shall have no liability for, any Environmental Defect that Purchaser fails to assert as an Environmental Defect by an Environmental Defect
Notice received by Seller on or before the Defect Notice Date. To be effective, each Environmental Defect Notice shall include: (a) a
detailed description of the alleged Environmental Defect, (b) the Well or other Asset affected by such Environmental Defect (each an
“Environmental Defect Property”), (c) the Allocated Value of such Environmental Defect Property, (d) supporting documents
reasonably necessary for Seller to verify the existence of the asserted Environmental Defect, (e) the specific Environmental Law that
is applicable to the Environmental Defect and the violation of such Environmental Law and (f) Purchaser’s good faith estimate of
the Remediation Amount. Purchaser’s calculation of the Remediation Amount included in the Environmental Defect Notice for any alleged
Environmental Defect must describe in reasonable detail the Remediation proposed for such Environmental Defect and identify all assumptions
used by Purchaser in calculating the Remediation Amount with respect thereto, including the standards that Purchaser asserts must be
met to comply with Environmental Laws. Seller shall have the right but not the obligation to attempt to Remediate any Environmental Defect
Property and, if Seller so elects, then Seller shall have sixty (60) days following Closing in which to Remediate, at Seller’s
cost, the Environmental Defect. No adjustment to the Purchase Price will be made at Closing for any Environmental Defect that Seller
elects to attempt to cure pursuant to this Section 4.10 and the affected Environmental Defect Property shall be assigned to Purchaser.
If such Environmental Defect Property has not been Remediated at the end of such sixty (60) day period, then (except as provided in Section
4.11(a) or Section 4.11(b)) an adjustment to the Purchase Price in an amount equal to the applicable Remediation Amount will
be made as part of the Final Settlement Statement.

 

    	12

    	 

    

 

Section
4.11 Remedies for Environmental Defects. Subject to Seller’s continuing right to dispute the existence of an Environmental
Defect and/or the Remediation Amount asserted with respect thereto and subject to the Individual Environmental Defect Threshold and the
Aggregate Environmental Defect Deductible, with respect to any Environmental Defect asserted by Purchaser that (i) Seller does not elect
to attempt to Remediate or (ii) Seller elects to attempt to Remediate and fails to Remediate within sixty (60) days after Closing:

 

(a)
Seller shall have the right, but not the obligation, to elect to indemnify Purchaser against all Losses resulting from such Environmental
Defect pursuant to an indemnity agreement in a form mutually agreeable to the Parties, in which event the Purchase Price shall not be
reduced and the affected Environmental Defect Property shall be transferred to (or if after Closing, retained by) Purchaser notwithstanding
and subject to such Environmental Defect;

 

(b)
at or prior to the Closing, Seller shall have the right, but not the obligation, to elect to exclude the Asset subject to the Environmental
Defect from the transactions contemplated hereby, in which event such Asset and all Assets directly relating thereto (but only to the
extent relating thereto) shall be excluded from the transactions contemplated hereby and the Purchase Price shall be reduced by the Allocated
Value of such Asset and related Assets; or

 

(c)
if both Section 4.11(a) and Section 4.11(b) above are not applicable, the affected Environmental Defect Property shall
be transferred to (or if after Closing, retained by) Purchaser notwithstanding and subject to the Environmental Defect, and the Purchase
Price shall be reduced by an amount equal to the Remediation Amount for the affected Environmental Defect Property.

 

Except
for Purchaser’s rights to terminate this Agreement pursuant to Section 15.1(d), the provisions set forth in this Section
4.11 shall be the exclusive right and remedy of Purchaser with respect to any Environmental Defect or the environmental condition
of any Asset and Purchaser hereby waives all other rights and remedies.

 

Section
4.12 Environmental Limitations. Notwithstanding anything to the contrary, (a) in no event shall there be any adjustments to the
Purchase Price or other remedies provided by Seller for any individual Environmental Defect for which the Remediation Amount does not
exceed One Half Percent (.5%) of the Purchase Price (the “Individual Environmental Defect Threshold”); and (b) in
no event shall there be any adjustments to the Purchase Price or other remedies provided by Seller for any Environmental Defect that
exceeds the Individual Environmental Defect Threshold unless the sum of all Remediation Amounts of all Environmental Defects that exceed
the Individual Environmental Defect Threshold (excluding any Environmental Defects Remediated by Seller) exceeds Two and One Half Percent
(2.5%) of the Purchase Price (the “Aggregate Environmental Defect Deductible”), after which point Purchaser shall
be entitled to adjustments to the Purchase Price or other remedies only with respect to such Environmental Defects in excess of such
Aggregate Environmental Defect Deductible (after reducing the value of each such Environmental Defect by the Individual Environmental
Defect Threshold). For the avoidance of doubt, if Seller elects to exclude an Asset affected by an Environmental Defect from the transactions
contemplated hereby pursuant to the remedy set forth in Section 4.11(b) or indemnify Purchaser with respect to any Environmental
Defect pursuant to the remedy set forth in Section 4.11(a), then, after such election, the Remediation Amount for such Environmental
Defect and related Purchase Price adjustment relating to such excluded Assets or such Assets for which Seller has provided an indemnity
to Purchaser will not be counted towards the Aggregate Environmental Defect Deductible or for purposes of Section 8.4 and Section
9.4.

 

    	13

    	 

    

 

Section
4.13 Casualty Loss.

 

(a)
Notwithstanding anything herein to the contrary from and after the Effective Time, subject to the remaining provisions of this Section
4.13, if Closing occurs, Purchaser shall assume all risk of loss with respect to production of Hydrocarbons through normal depletion
(including watering out of any Well, collapsed casing or sand infiltration of any Well) and the depreciation of all Wells and/or personal
property due to ordinary wear and tear, in each case, with respect to the Assets.

 

(b)
If, after the date of the execution of this Agreement but prior to the Closing Date, any portion of the Assets is destroyed or taken
in connection with a Casualty Loss and the loss in value of such Assets as a result of such Casualty Loss (net to Seller’s interest
in the Assets), in the aggregate, exceeds Ten Percent (10%) of the Purchase Price, then, subject to Section 15.1(d), Purchaser
shall nevertheless be required to close and Seller shall elect by written notice to Purchaser prior to Closing: (i) with Purchaser’s
consent, to cause the Assets adversely affected by any such Casualty Loss to be repaired or restored to at least their condition prior
to such Casualty Loss, at Seller’s sole cost and expense, as promptly as reasonably practicable (which repair or restoration may
extend after Closing), (ii) to exclude the Assets adversely affected by such Casualty Loss and any Asset related thereto (to the extent
so related) and reduce the Purchase Price by the Allocated Value of such excluded Assets or (iii) to assign the Assets adversely affected
by such Casualty Loss and reduce the Purchase Price by the loss in value of such Assets as a result of such Casualty Loss. In each case,
Seller shall retain all right, title and interest (if any) in insurance claims, unpaid awards and other rights (in each case) against
third parties arising out of such Casualty Loss with respect to the Assets, except to the extent the Parties otherwise agree in writing.

 

(c)
If, after the date of the execution of this Agreement but prior to the Closing Date, any Casualty Loss occurs, and the loss in value
of the Assets as a result of such Casualty Loss (net to Seller’s interest in the Assets), in the aggregate, is equal to or less
than Ten Percent (10%) of the Purchase Price, then, subject to Section 15.1(d), Purchaser shall nevertheless be required to close
and Seller, at Closing, shall pay to Purchaser all sums received by Seller from unaffiliated third parties by reason of such Casualty
Losses insofar as with respect to the Assets and Seller shall assign, transfer and set over to Purchaser or subrogate Purchaser to all
of Seller’s right, title and interest (if any) in unpaid awards and other rights (in each case) against unaffiliated third parties
(excluding, for the avoidance of doubt, any Losses against any member of the Seller Parties) arising out of such Casualty Losses insofar
as with respect to the Assets (provided, however, that Seller shall reserve and retain all rights, title, interests and claims against
such third parties for the recovery of Seller’s costs and expenses incurred prior to Closing in pursuing or asserting any such
insurance claims or other rights against such third parties with respect to any such Casualty Loss).

 

    	14

    	 

    

 

(d)
Notwithstanding the foregoing, if the Casualty Loss consists of any taking under condemnation or eminent domain, the Purchase Price shall
be reduced by the Allocated Value of such Assets so taken.

 

ARTICLE
V

REPRESENTATIONS AND WARRANTIES OF SELLER

 

Seller
represents and warrants to Purchaser as follows:

 

Section
5.1 Organization, Existence and Qualification. Seller is an entity duly formed and validly existing under the Laws of the State
of Texas and in good standing under the laws of the State of Texas. Seller has all requisite power and authority to own and operate the
Assets and to carry on its business with respect thereto as currently conducted. Seller is duly licensed or qualified to do business
as a limited liability company in all jurisdictions in which the Assets are located, except where the failure to be so qualified would
not reasonably be expected to have a Material Adverse Effect.

 

Section
5.2 Authority, Approval and Enforceability. Seller has the power and authority to enter into and perform this Agreement and all
Transaction Documents to be delivered at Closing by Seller and the transactions contemplated hereby and thereby. The execution, delivery
and performance by Seller of this Agreement have been, and the Transaction Documents to which Seller is a party will be at Closing, duly
and validly authorized and approved by all necessary corporate action on the part of Seller. This Agreement is, and the Transaction Documents
to which Seller is a party when executed and delivered by Seller will be, the valid and binding obligation of Seller and enforceable
against Seller in accordance with their respective terms, subject to the effects of bankruptcy, insolvency, reorganization, moratorium
and similar Laws, as well as to principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at Law).

 

Section
5.3 No Conflicts. Assuming the receipt of all applicable consents and approvals in connection with the transactions contemplated
hereby and the waiver of, or compliance with, all Preferential Rights applicable to the transactions contemplated hereby, the execution,
delivery and performance of this Agreement, and the Transaction Documents to be delivered by Seller at Closing, by Seller, and the consummation
by Seller of the transactions contemplated hereby and thereby, will not (a) violate any provision of the organizational documents of
Seller, (b) violate, or result in the creation of any Encumbrance under, any material agreement or instrument to which Seller is a party
or by which Seller or any of the Assets are bound, (c) violate any judgment, order, ruling, or decree applicable to Seller as a party
in interest, or (d) violate any Law applicable to Seller relating to the Assets, except in the case of subsection (b), (c) or (d) where
such violation would not reasonably be expected to have a Material Adverse Effect.

 

    	15

    	 

    

 

Section
5.4 Asset Taxes. To Seller’s Knowledge, except as set forth on Schedule 5.4, (a) all tax returns relating to or prepared
in connection with material Asset Taxes that are required to be filed by Seller have been timely filed and all such tax returns are correct
and complete in all material respects and (b) all material Asset Taxes that are or have become due have been timely paid in full, and
Seller is not delinquent in the payment of any such Taxes, or, in either case, such Taxes are currently being contested in good faith
by Seller.

 

Section
5.5 Bankruptcy. There are no bankruptcy or receivership proceedings pending, being contemplated by or, to Seller’s Knowledge,
threatened in writing against Seller.

 

Section
5.6 Foreign Person. Seller is not a “foreign person” within the meaning of Section 1445 of the Code.

 

Section
5.7 Brokers. Neither Seller nor any of its Affiliates has incurred any obligation or liability for brokers’ or finders’
fees relating to the transactions contemplated hereby for which Purchaser or any of its Affiliates will be liable or have any responsibility.

 

Section
5.8 Preferential Rights. To Seller’s Knowledge, except as set forth in Schedule 5.8, there are no Preferential Rights
that are applicable to the transfer of the Assets by Seller to Purchaser.

 

Section
5.9 Litigation. Except as set forth in Schedule 5.9 or as would not reasonably be expected to have a Material Adverse Effect,
as of the date of the execution of this Agreement, there is no suit, action or litigation by or before any governmental authority, and
no arbitration proceedings, (in each case) pending and served on Seller, or, to Seller’s Knowledge, threatened in writing, against
Seller (in each case) with respect to the Assets.

 

Section
5.10 Current Commitments. To Seller’s Knowledge, Schedule 5.10 sets forth, as of the date of the execution of this
Agreement, all authorities for expenditures (“AFEs”) that (a) relate to drilling or reworking a Well, or (b) are in
excess of one hundred thousand dollars ($100,000.00), net to Seller’s interest in
the Assets.

 

Section
5.11 Suspense Funds. Except as set forth in Schedule 5.11, as of the date set forth on such Schedules, neither Seller nor
its Affiliates holds (in escrow or otherwise) any Suspense Funds.

 

Section
5.12 Consents. Except (a) as set forth on Schedule 5.12, (b) for Customary Post-Closing Consents, (c) under Existing Contracts
that are terminable without penalty upon not greater than ninety (90) days’ notice, (d) the requirements of any maintenance of
uniform interest provisions contained in any operating or other agreements and (e) for any preferential purchase rights applicable to
the transactions contemplated by this Agreement that are set forth on Schedule 5.8, there are, to Seller’s Knowledge, no
Required Consents or other material consents to assignment or other similar restrictions on assignment, in each case that would be applicable
in connection with the transfer of the Assets or the consummation of the transactions contemplated by this Agreement by Seller, except
where, under the express terms thereof, such Required Consents may not be unreasonably withheld.

 

    	16

    	 

    

 

Section
5.13 Payment of Royalties. Except as would not reasonably be expected to have a Material Adverse Effect or for such items that
are being held in suspense as permitted by Law, to Seller’s Knowledge, Seller has paid or caused to be paid all royalties (including
lessor’s royalties), overriding royalties, and other burdens upon, measured by, or payable out of production from Seller with respect
to its interest in the Assets or if not paid, is contesting same in good faith in the normal course of business.

 

Section
5.14 Imbalances. There are no Imbalances attributable to Seller’s (or its Affiliates’) interest in the Wells, whether
such Imbalance arose before or after the Effective Time.

 

Notwithstanding
the foregoing, to the extent that Seller has made any representations or warranties in this ARTICLE V in connection with matters
relating to any Assets not operated by Seller, each and every such representation and warranty shall be deemed to be qualified by the
phrase “To Seller’s Knowledge” to the extent such individual representations or warranties does not already contain
such qualification.

 

ARTICLE
VI

REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

Purchaser
represents and warrants to Seller as follows:

 

Section
6.1 Organization, Existence and Qualification. Purchaser is an entity duly formed and validly existing under the Laws of the State
of Wyoming and in good standing under the laws of the State of Wyoming. Purchaser has all requisite power and authority to own and operate
its property (including interests in the Assets following Closing) and to carry on its business with respect thereto. Purchaser is duly
licensed or qualified to do business as a corporation in all jurisdictions in which the Assets are located, except where the failure
to be so qualified would not reasonably be expected to have a material adverse effect on Purchaser’s ability to consummate the
transactions contemplated by this Agreement and perform its obligations hereunder.

 

Section
6.2 Authority, Approval and Enforceability. Purchaser has the power and authority to enter into and perform this Agreement and
all Transaction Documents to be delivered at Closing by Purchaser and the transactions contemplated hereby and thereby. The execution,
delivery and performance by Purchaser of this Agreement have been, and the Transaction Documents to which Purchaser is a party will be
at Closing, duly and validly authorized and approved by all necessary corporate action on the part of Purchaser. This Agreement is, and
the Transaction Documents to which Purchaser is a party when executed and delivered by Purchaser will be, the valid and binding obligation
of Purchaser and enforceable against Purchaser in accordance with their respective terms, subject to the effects of bankruptcy, insolvency,
reorganization, moratorium and similar Laws, as well as to principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at Law).

 

    	17

    	 

    

 

Section
6.3 No Conflicts. The execution, delivery and performance of this Agreement, and the Transaction Documents to be delivered by Purchaser
at Closing, by Purchaser, and the consummation by Purchaser of the trans actions contemplated hereby and thereby, will not (a) violate
any provision of the organizational documents of Purchaser, (b) violate or result in the creation of any Encumbrance under any material
agreement or instrument to which Purchaser is a party or by which its assets are subject (c) violate any judgment, order, ruling, or
decree applicable to Purchaser as a party in interest, or (d) violate any Law applicable to Purchaser, except in the case of subsection
(b), (c) or (d) where such violation would not reasonably be expected to have a material adverse effect on Purchaser’s ability
to consummate the transactions contemplated by this Agreement and perform its obligations hereunder.

 

Section
6.4 Bankruptcy. There are no bankruptcy or receivership proceedings pending, being contemplated by or, to Purchaser’s Knowledge,
threatened in writing against Purchaser.

 

Section
6.5 Brokers. Neither Purchaser nor any of its Affiliates has incurred any obligation or liability for brokers’ or finders’
fees relating to the transactions contemplated hereby for which Seller or any of its Affiliates will be liable or have any responsibility.

 

Section
6.6 Consents. There are no requirements for consents or approvals from third parties in connection with the consummation by Purchaser
of the transactions contemplated by this Agreement.

 

Section
6.7 No Distribution. Purchaser is acquiring the Assets for its own account and not with the intent to make a distribution in violation
of the Securities Act of 1933, as amended (and the rules and regulations pertaining thereto), or in violation of any other applicable
securities Laws.

 

Section
6.8 Knowledge and Experience. Purchaser is sophisticated in the evaluation, purchase, ownership and operation of oil and gas properties
and related facilities. In making its decision to enter into this Agreement and to consummate the transactions contemplated hereby, Purchaser
has solely relied (a) on the representations and warranties of Seller set forth in ARTICLE V and (b) on its own independent investigation
and evaluation of the Assets and the advice of its own legal, Tax, economic, environmental, engineering, geological and geophysical advisors
and not on any comments, statements, projections or other material made or given by any representative, consultant or advisor of Seller.
Purchaser hereby acknowledges that, other than the representations and warranties made by Seller in ARTICLE V and the special
warranty of title with respect to the Wells, neither Seller nor any representatives, consultants or advisors of Seller or its Affiliates
will make or have made any representation or warranty, express or implied, at Law or in equity, with respect to the Assets. Purchaser
is able to bear the risks of the acquisition of the Assets, and assumption of the obligations, in accordance with and as set forth in
this Agreement, and understands the risks of, and other considerations relating to, a purchase of the Assets.

 

Section
6.9 Regulatory. No later than five (5) days prior to the Scheduled Closing Date and continually thereafter Purchaser shall be qualified
to own and assume operatorship of oil, gas and mineral leases in all jurisdictions where the Assets are located, and the consummation
of the transactions contemplated by this Agreement will not cause Purchaser to be disqualified as such an owner or operator. To the extent
required by any applicable Laws, Purchaser shall, as of the Scheduled Closing Date, (a) hold all lease bonds and any other surety or
similar bonds as may be required by, and in accordance with, all applicable Laws governing the ownership and operation of the Assets
and (b) have filed any and all required reports necessary for such ownership and operation with all governmental authorities having jurisdiction
over such ownership and operation.

 

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Section
6.10 Funds. Purchaser has, and at the Closing will have, such funds as are necessary for the payment of the Purchase Price and
the consummation by Purchaser of the transactions contemplated hereby, including the performance of all of Purchaser’s obligations
hereunder.

 

ARTICLE
VII

PRE-CLOSING COVENANTS OF THE PARTIES

 

Section
7.1 Operations.

 

(a)
Except (w) as set forth in Schedule 7.1, (x) for the operations covered by the AFEs described in Schedule 5.10, (y) as
required in the event of an emergency to protect life, property or the environment, and (z) as expressly contemplated by this Agreement
or as expressly consented to in writing by Purchaser (which consent shall not be unreasonably delayed, withheld or conditioned), Seller
shall, during the Interim Period:

 

(i)
operate or, in the case of those Assets not operated by Seller or its Affiliates, use its commercially reasonable efforts to cause to
be operated, the Assets in the usual, regular and ordinary manner consistent with past practice, subject to (A) Seller’s right
to comply with the terms of the Leases, Existing Contracts, applicable Laws and requirements of governmental authorities and (B) interruptions
resulting from force majeure, mechanical breakdown and planned maintenance; and

 

(ii)
maintain, or cause to be maintained, the books of account and Records relating to the Assets in the usual, regular and ordinary manner
and in accordance with the past practices of Seller.

 

(b)
Except (w) as set forth in Schedule 7.1, (x) for the operations covered by the AFEs described in Schedule 5.10, (y) as
required in the event of an emergency to protect life, property or the environment, and (z) as expressly contemplated by this Agreement
or as expressly consented to in writing by Purchaser (which consent shall not be unreasonably delayed, withheld or conditioned), Seller
shall not, during the Interim Period:

 

(i)
terminate (unless the term thereof expires pursuant to the provisions existing therein), materially amend, extend or surrender any rights
under any Lease or Right-of-Way; provided that Seller shall be permitted to amend any Lease to increase its pooling authority;

 

(ii)
subject to Section 7.1(d), propose or approve any individual AFE or similar request under any Existing Contract (other than those
expressly required under the terms of any Existing Contract or by any order of a governmental authority) that would reasonably be estimated
to require expenditures by Seller (net to its interest) in excess of one hundred fifty thousand
dollars ($150,000.00).

 

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(iii)
transfer, sell, mortgage, pledge or dispose of any material portion of the Assets other than the (A) sale and/or disposal of Hydrocarbons
in the ordinary course of business and (B) sales of equipment that is no longer necessary in the operation of the Assets or for which
replacement equipment has been obtained; or

 

(iv)
commit to do any of the foregoing.

 

(c)
Purchaser acknowledges Seller owns undivided interests in certain of the properties comprising the Assets that it is not the operator
thereof (the “Non-Op Properties”), and Purchaser agrees that the acts or omissions of the other Working Interest owners
(including the operators) who are not Seller or any Affiliates of Seller shall not constitute a breach by Seller of the provisions of
this Section 7.1, nor shall any action required by a vote of Working Interest owners constitute such a breach so long as Seller
has voted its interest in a manner that complies with the provisions of this Section 7.1.

 

(d)
Purchaser acknowledges that, other than the Non-Op Properties, the Wells are operated by Eagle Oil & Gas Co. (“Eagle”),
an Affiliate of Seller. Within five (5) Business Days after Closing, Seller shall send notices to co-owners of those Assets that Eagle
currently operates indicating that Eagle is resigning as operator, effective upon the Closing Date, and recommending that Purchaser be
elected successor operator. While Purchaser acknowledges that it desires to succeed Eagle as operator of those Assets of portion thereof
that Eagle may presently operate, Purchaser acknowledges and agrees that Seller cannot and does not covenant or warrant that Purchaser
shall become successor operator of such Assets since the Assets or portions thereof may be subject to operating or other agreements that
control the appointment of a successor operator. Seller agrees, however, that as to the Assets that Eagle operates, Seller shall use
commercially reasonable efforts to support Purchaser’s efforts to become successor operator of such Assets (to the extent permitted
under any applicable joint operating agreement) effective as of the Closing (as Purchaser’s sole cost and expense) and to designate
or appoint, to the extent legally possible and permitted under any applicable joint operating agreement, Purchaser as successor operator
of such Assets effective as of the Closing.

 

(e)
With respect to any AFE or similar request received by Seller that is estimated to cost in excess of one
hundred fifty thousand dollars ($150,000.00), Seller shall forward such AFE to Purchaser as soon as is reasonably practicable
and thereafter the Parties shall consult with each other regarding whether or not Seller should elect to participate in such operation.
Purchaser agrees that it will (i) timely respond to any written request for consent pursuant to this Section 7.1(d), and (ii)
consent to any written request for approval of any AFE or similar request that Purchaser reasonably considers to be economically viable.
In the event the Parties are unable to agree within ten (10) days (unless a shorter time, not to be less than 48 hours, is reasonably
required by the circumstances and the applicable joint operating agreement and such shorter time is specified in Seller’s request
for consent) of Purchaser’s receipt of any consent request as to whether or not Seller should elect to participate in such operation,
Seller’s decision shall control and such operation shall be deemed to have been consented to by Purchaser.

 

Section
7.2 Governmental Bonds. Purchaser acknowledges that none of the bonds, letters of credit and guarantees, if any, posted by Seller
or its Affiliates with governmental authorities and relating to the Assets are transferable to Purchaser. On or before the Closing Date,
Purchaser shall obtain replacements for all such bonds, letters of credit and guarantees to the extent such replacements are necessary
for Purchaser’s ownership and/or operation of the Assets. At Closing, Purchaser shall cause the cancellation of the bonds, letters
of credit and guarantees posted by Seller of its Affiliates with respect to the Assets.

 

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Section
7.3 Amendment of Schedules. Purchaser agrees that, with respect to the representations and warranties of Seller contained in this
Agreement, Seller shall have the continuing right until the Closing to add, supplement or amend the Schedules to its representations
and warranties with respect to any matter hereafter arising or discovered which, if existing or known at the date of the execution of
this Agreement or thereafter, would have been required to be set forth or described in such Schedules. For purposes of determining whether
the conditions set forth in ARTICLE VIII have been fulfilled, the Schedules to Seller’s representations and warranties contained
in this Agreement shall be deemed to include only that information contained therein on the date of the execution of this Agreement and
shall be deemed to exclude all information contained in any addition, supplement or amendment thereto; provided, however, that if the
Closing shall occur, then all matters disclosed pursuant to any such addition, supplement or amendment at or prior to the Closing shall
be waived and Purchaser shall not be entitled to make a claim with respect thereto pursuant to the terms of this Agreement or otherwise.

 

Section
7.4 Indemnity Regarding Access. Purchaser hereby defends, indemnifies and holds harmless each of the operators of the Assets and
the Seller Group from and against any and all Losses arising out of, resulting from or relating to, any field visit, environmental property
assessment, or other due diligence activity conducted by Purchaser or any Purchaser’s Affiliates or their respect representatives
(including any environmental consultant or landman) with respect to the Assets, EVEN IF SUCH LOSSES ARISE OUT OF OR RESULT FROM, SOLELY
OR IN PART, THE SOLE, ACTIVE, PASSIVE, CONCURRENT OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT OR VIOLATION OF LAW OF OR
BY A MEMBER OF THE SELLER GROUP PARTIES, EXCEPTING ONLY IN THE CASE OF THIS SECTION 7.4 LOSSES ACTUALLY RESULTING ON THE ACCOUNT
OF THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF A MEMBER OF THE SELLER GROUP. For the avoidance of doubt, this indemnity shall survive
any termination of this Agreement, if applicable, and the Closing.

 

ARTICLE
VIII

PURCHASER’S CONDITIONS TO CLOSING

 

The
obligations of Purchaser to consummate the transactions provided for herein are subject, at the option of Purchaser, to the fulfillment
by Seller or waiver by Purchaser, on or prior to Closing of each of the following conditions:

 

Section
8.1 Representations. Each of the representations and warranties of Seller set forth in ARTICLE V shall be true and correct
in all respects on and as of the Closing Date, with the same force and without giving effect to any qualifiers as to materiality, including
a Material Adverse Effect, as though such representations and warranties had been made or given on and as of the Closing Date (other
than representations and warranties that refer to a specified date, which need only be true and correct on and as of such specified date),
except for those breaches, if any, of such representations and warranties that in the aggregate would not have a Material Adverse Effect.

 

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Section
8.2 Performance. Seller shall have performed or complied in all material respects with all obligations, agreements, and covenants
contained in this Agreement as to which performance or compliance by Seller is required prior to or at the Closing Date.

 

Section
8.3 No Legal Proceedings. No suit, action, or other proceeding by any unaffiliated third party shall be pending by or before any
governmental authority seeking to restrain, prohibit, enjoin, or declare illegal, or seeking substantial damages in connection with,
the transactions contemplated by this Agreement.

 

Section
8.4 Title Defects, Environmental Defects and Casualty Loss. The sum of (a) the Title Defect Amounts of all uncured Title Defects
exceeding the Individual Title Defect Threshold, plus (b) all Remediation Amounts for uncured Environmental Defects exceeding the Individual
Environmental Defect Threshold, plus (c) the amount of loss in value of the Assets resulting from all Casualty Losses, as determined
in accordance with Section 4.13, minus the aggregate Title Benefit Amounts of all Title Benefits as determined pursuant to Section
4.7, shall be less than Fifteen Percent (15%) of the Purchase Price.

 

Section
8.5 Closing Deliverables. Seller shall have delivered (or be ready, willing and able to deliver at Closing) to Purchaser the documents
required to be delivered by Seller at Closing.

 

ARTICLE
IX

SELLER’S CONDITIONS TO CLOSING

 

The
obligations of Seller to consummate the transactions provided for herein are subject, at the option of Seller, to the fulfillment by
Purchaser or waiver by Seller on or prior to Closing of each of the following conditions:

 

Section
9.1 Representations. Each of the representations and warranties of Purchaser set forth in ARTICLE VI shall be true and correct
in all material respects on and as of the Closing Date, with the same force and effect as though such representations and warranties
had been made or given on and as of the Closing Date (other than representations and warranties that refer to a specified date, which
need only be true and correct on and as of such specified date).

 

Section
9.2 Performance. Purchaser shall have performed or complied in all material respects with all obligations, agreements, and covenants
contained in this Agreement as to which performance or compliance by Purchaser is required prior to or at the Closing Date.

 

Section
9.3 No Legal Proceedings. No suit, action, or other proceeding by any unaffiliated third party shall be pending by or before any
governmental authority seeking to restrain, prohibit, or declare illegal, or seeking substantial damages in connection with, the transactions
contemplated by this Agreement.

 

Section
9.4 Title Defects, Environmental Defects and Casualty Losses. The sum of (a) the Title Defect Amounts of all uncured Title Defects
exceeding the Individual Title Defect Threshold, plus (b) all Remediation Amounts for uncured Environmental Defects exceeding the Individual
Environmental Defect Threshold, plus (c) the amount of loss in value of the Assets resulting from all Casualty Losses, as determined
in accordance with Section 4.13, minus the aggregate Title Benefit Amounts of all Title Benefits as determined pursuant to Section
4.7, shall be less than Fifteen Percent (15%) of the Purchase Price.

 

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Section
9.5 Closing Deliverables. Purchaser shall have delivered (or be ready, willing and able to deliver at Closing) to Seller the documents
and other items required to be delivered by Purchaser at Closing.

 

ARTICLE
X

CLOSING

 

Section
10.1 Time and Place of Closing. The consummation of the transactions contemplated by this Agreement (the “Closing”)
shall be held on or before July 22, 2022 (the “Scheduled Closing Date”), remotely; provided that if all of the conditions
to that Closing are not satisfied as of the Scheduled Closing Date, then Closing shall be held three (3) Business Days after all such
conditions have been satisfied or waived, or such other date as the Parties may mutually agree in writing, but in no event later than
July 30, 2022 (the “Longstop Date”).

 

Section
10.2 Calculation of Adjusted Purchase Price. Not less than five (5) Business Days prior to the Closing, Seller shall prepare and
submit to Purchaser for review a draft settlement statement (the “Preliminary Settlement Statement”) that shall set
forth (a) the Adjusted Purchase Price, reflecting each adjustment made in accordance with this Agreement as of the date of preparation
of such Preliminary Settlement Statement and the itemized calculation (recognizing that Seller may elect to use reasonable good faith
estimates in the Preliminary Settlement Statement) and (b) the designation of Seller’s accounts for the wire transfers of funds
at Closing. Within two (2) Business Days of receipt of the Preliminary Settlement Statement, Purchaser will deliver to Seller a written
report containing all changes with the explanation therefor that Purchaser proposes to be made to the Preliminary Settlement Statement.
The Preliminary Settlement Statement, as agreed upon by the Parties, will be used to adjust the Purchase Price at Closing; provided that
if the Parties do not agree upon an adjustment set forth in the Preliminary Settlement Statement, then the amount of such adjustment
used to adjust the Purchase Price at Closing shall be that amount set forth in the draft Preliminary Settlement Statement delivered by
Seller to Purchaser pursuant to this Section 10.2. Final adjustments to the Purchase Price shall be made pursuant to Section
12.1 below.

 

Section
10.3 Failure to Close. If the conditions to Closing have been satisfied or waived on or before the Longstop Date, and either Party
fails to close, the Party failing to close shall be deemed to have breached the obligations it has undertaken hereunder to perform at
Closing, and shall be subject to the provisions of ARTICLE XV below.

 

Section
10.4 Closing Obligations. At the Closing:

 

(a)
Seller and Purchaser shall execute, acknowledge and deliver the Assignment in sufficient duplicate originals to allow recording in all
appropriate counties;

 

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(b)
Seller and Purchaser shall execute and deliver assignments, on appropriate forms, of state, federal, tribal and other Leases of governmental
authorities included in the Assets in sufficient counterparts to facilitate filing with the applicable governmental authorities;

 

(c)
Seller and Purchaser shall acknowledge the Preliminary Settlement Statement;

 

(d)
Seller shall deliver to Purchaser a non-foreign entity affidavit in the form of Exhibit E;

 

(e)
Seller, if and as applicable, shall deliver all appropriate or required forms, applications, notices, permit transfers, declarations,
to be filed with the appropriate governmental authorities having jurisdiction with respect to the transfer of operatorship to Purchaser
of the Assets that are operated by Seller immediately prior to the Closing;

 

(f)
Seller and Purchaser shall execute, acknowledge and deliver transfer orders or letters-in-lieu thereof in customary form prepared by
Seller directing all purchasers of production to make payment to Purchaser of proceeds attributable to production from the Assets from
and after Closing;

 

(g)
Purchaser shall make the payment described in Section 3.4(b);

 

(h)
Purchaser shall furnish evidence that all requirements to own and/or operate the Assets, including bonds and permits, from any governmental
authority having jurisdiction, or as required by any Existing Contract, have been satisfied; and

 

(i)
Seller and Purchaser shall execute such other instruments and take such other actions as may be necessary to carry out their respective
obligations under this Agreement.

 

ARTICLE
XI

POST-CLOSING OBLIGATIONS

 

Section
11.1 Assumed Obligations. Without limiting Purchaser’s rights to indemnity under Section 11.3 (if applicable), and
subject to Seller’s retention of the Retained Liabilities as set forth in Section 11.3(a), if the Closing occurs, from and
after Closing, Purchaser hereby assumes and agrees to fulfill, perform, pay and discharge all obligations and Losses, known or unknown,
with respect to the Assets or the ownership, use or operation thereof, on or after the Effective Time, including obligations and Losses
relating to the following (all of such obligations and Losses, the “Assumed Obligations”):

 

(a)
the payment of owners of Working Interests, royalties, overriding royalties and other interests all revenues attributable thereto, including
the Suspense Funds transferred to Purchaser in accordance with Section 12.2;

 

    	24

    	 

    

 

(b)
fully performing all plugging, decommissioning and abandonment obligations related to the Assets (the “Plugging and Abandonment
Obligations”), regardless of whether such obligations are attributable to the ownership or operation of the Assets prior to,
on, or after the Effective Time, in a good and workmanlike manner and in compliance with all Laws, including:

 

(i)
the necessary and proper plugging, replugging, and abandonment of all wells on the Assets, whether plugged and abandoned prior to, on,
or after the Effective Time;

 

(ii)
the necessary and proper removal, abandonment, decommissioning, and disposal of all structures, pipelines, facilities, equipment, abandoned
property, and junk located on or comprising part of the Assets;

 

(iii)
the necessary and proper capping and burying of all flow lines and pipelines associated with the Assets and located on or comprising
part of the Assets; and

 

(iv)
the necessary and proper restoration of the property, both surface and subsurface, as may be required by Laws or contract;

 

(c)
furnishing make-up gas according to the terms of applicable Existing Contracts, and to satisfy all other Imbalances, if any;

 

(d)
the environmental and physical condition of the Assets, whether such condition existed prior to, on or after the Effective Time, including
Environmental Defects, if any, with respect to the Assets, whether or not asserted by Purchaser in accordance with this Agreement, including
the clean-up, restoration and remediation of the Assets in accordance with applicable Law, including all Environmental Laws;

 

(e)
obligations or Losses under or imposed on the lessee, owner, or operator under the Leases, the Existing Contracts and applicable Laws;
and

 

(f)
storing, handling, transporting and disposing of or discharging all materials, substances and wastes from the Assets (including produced
water, drilling fluids, NORM, and other wastes), whether present prior to, on or after the Effective Time, in accordance with applicable
Laws and contracts.

 

Section
11.2 Purchaser’s Indemnity. Effective upon Closing, REGARDLESS OF FAULT, Purchaser shall protect, defend, indemnify
and hold harmless the Seller Group from and against any and all Losses arising out of, attributable to, based upon or related to:

 

(a)
any breach of any representation or warranty made by Purchaser in ARTICLE VI of this Agreement, or any covenant or agreement of
Purchaser contained in this Agreement; or

 

(b)
any of the Assumed Obligations.

 

    	25

    	 

    

 

Section
11.3 Seller’s Indemnity. Effective upon Closing, REGARDLESS OF FAULT, Seller shall protect, defend, indemnify and
hold harmless the Purchaser Group from and against any and all Losses arising out of, attributable to, based upon or related to:

 

(a)
all obligations and Losses, known or unknown, with respect to the Assets or the ownership, use or operation thereof, prior to the Effective
Time (“Retained Liabilities”); provided however that Buyer shall assume the Retained Liabilities two (2) years after
Closing; and thereafter, all such Retained Liabilities shall be deemed Assumed Liabilities for all purposes herein;

 

(b)
any breach of any representation or warranty made by Seller in ARTICLE V of this Agreement, or any covenant or agreement of Seller
contained in this Agreement;

 

(c)
the Excluded Assets;

 

(d)
any personal injury or death attributable to Seller’s or its Affiliates’ operation of the Assets prior to the Effective Time,
to the extent a claim relating thereto is asserted by third parties not Affiliated with Purchaser and for which Purchaser’s indemnity
in Section 7.4 does not apply;

 

(e)
the litigation and/or administrative proceedings set forth on Schedule 11.3(e); or

 

(f)
matters related to taxes accruing prior to the Effective Time and more fully set forth in ARTICLE XIII.

 

Section
11.4 Regardless of Fault. The phrase “REGARDLESS OF FAULT” means WITHOUT REGARD TO THE CAUSE OR CAUSES OF
ANY CLAIM, INCLUDING WHETHER OR NOT A CLAIM IS CAUSED IN WHOLE OR IN PART BY:

 

(a)
THE NEGLIGENCE (WHETHER SOLE, JOINT, CONCURRENT, COMPARATIVE, CONTRIBUTORY, ACTIVE, PASSIVE, GROSS OR OTHERWISE) WILLFUL MISCONDUCT,
STRICT LIABILITY, OR OTHER FAULT OF ANY OF THE INDEMNIFIED PARTIES; AND/OR

 

(b)
A PRE-EXISTING DEFECT, WHETHER PATENT OR LATENT, WITH RESPECT TO THE PROPERTY OF ANY OF THE PARTIES, THEIR AFFILIATES OR THEIR RESPECTIVE
REPRESENTATIVES; AND/OR THE UNSEAWORTHINESS OF ANY VESSEL OR UNAIRWORTHINESS OF ANY AIRCRAFT OR MECHANICAL FAILURE OF ANY VEHICLE OF
A PARTY, ITS AFFILIATES OR ANY OF THEIR RESPECTIVE REPRESENTATIVES, WHETHER CHARTERED, LEASED, OWNED, OR FURNISHED OR PROVIDED BY ANY
OF THE PARTIES, THEIR AFFILIATES OR ANY OF THEIR RESPECTIVE REPRESENTATIVES. 

 

Section
11.5 Limitation on Liability.

 

(a)
Seller shall not have any liability for any indemnification under Section 11.3(a) for any individual Loss unless the amount of
such Loss exceeds One Half Percent (.5%) of the Purchase Price, and (ii) until and unless the aggregate amount of all such Losses for
which Claim Notices are delivered by Purchaser exceeds One Percent (1.0%) of the Purchase Price (the “Indemnity Deductible”)
and then only to the extent such Losses exceed the Indemnity Deductible.

 

    	26

    	 

    

 

(b)
Notwithstanding anything to the contrary contained in this Agreement, Seller shall not be required to indemnify the Purchaser Group (i)
under Section 11.3(a) for aggregate Losses in excess of Fifteen Percent (15%) of the Purchase Price, and (ii) otherwise under
the terms of this Agreement for aggregate Losses in excess of 100% of the Adjusted Purchase Price.

 

Section
11.6 Exclusive Remedy. Notwithstanding anything to the contrary contained in this Agreement, from and after the Closing, Section
4.8(c), Section 7.4, Section 11.2, Section 11.3, and Section 12.2 contain the Parties’ exclusive
remedy against each other with respect to the transactions contemplated hereby and the sale of the Assets, including breaches of the
representations, warranties, covenants and agreements of the Parties contained in this Agreement or in any document delivered pursuant
to this Agreement.

 

Section
11.7 Indemnification Procedures. All claims for indemnification under Section 4.8(c), Section 7.4, Section 11.2,
Section 11.3, and Section 12.2 shall be asserted and resolved as follows:

 

(a)
For purposes of this ARTICLE XI, Section 4.8(c), Section 7.4 and Section 12.2, the term “Indemnifying
Party” when used in connection with particular Losses shall mean the Party or Parties having an obligation to indemnify another
Party or Parties with respect to such Losses pursuant to such sections, and the term “Indemnified Party” when used
in connection with particular Losses shall mean the Party or Parties having the right to be indemnified with respect to such Losses by
another Party or Parties pursuant to such sections.

 

(b)
To make claim for indemnification under this ARTICLE XI, Section 4.8(c), Section 7.4 or Section 12.2, an
Indemnified Party shall notify the Indemnifying Party of its claim under this Section 11.7, including the specific details of
and specific basis under this Agreement for its claim (the “Claim Notice”). In the event that the claim for indemnification
is based upon a claim by an unaffiliated third party against the Indemnified Party (a “Third Party Claim”), the Indemnified
Party shall provide its Claim Notice promptly after the Indemnified Party has actual knowledge of the Third Party Claim and shall enclose
a copy of all papers (if any) served with respect to the Third Party Claim; provided that the failure of any Indemnified Party to give
notice of a Third Party Claim as provided in this Section 11.7 shall not relieve the Indemnifying Party of its indemnification
obligations under this Agreement, except to the extent (and then only to the extent) such failure materially prejudices the Indemnifying
Party’s ability to defend against the Claim. In the event that the claim for indemnification is based upon an inaccuracy or breach
of a representation, warranty, covenant or agreement, the Claim Notice shall specify the representation, warranty, covenant or agreement
that was inaccurate or breached.

 

(c)
In the case of a claim for indemnification based upon a Third Party Claim, the Indemnifying Party shall have thirty (30) days from its
receipt of the Claim Notice to notify the Indemnified Party whether it admits or denies its liability to defend the Indemnified Party
against such Third Party Claim at the sole cost and expense of the Indemnifying Party. The Indemnified Party is authorized, prior to
and during such thirty (30) day period, to file any motion, answer or other pleading that it shall deem necessary or appropriate to protect
its interests or those of the Indemnifying Party and that is not prejudicial to the Indemnifying Party.

 

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(d)
If the Indemnifying Party admits its liability, it shall have the right and obligation to diligently defend, at its sole cost and expense,
the Third Party Claim. The Indemnifying Party shall have full control of such defense and proceedings, including any compromise or settlement
thereof unless the compromise or settlement includes the payment of any amount by (because of the Indemnity Deductible or otherwise),
the performance of any obligation by or the limitation of any right or benefit of, the Indemnified Party, in which event such settlement
or compromise shall not be effective without the consent of the Indemnified Party, which shall not be unreasonably withheld or delayed.
If requested by the Indemnifying Party, the Indemnified Party agrees to cooperate in contesting any Third Party Claim which the Indemnifying
Party elects to contest. The Indemnified Party may participate in, but not control, at its own expense, any defense or settlement of
any Third Party Claim controlled by the Indemnifying Party pursuant to this Section 11.7. An Indemnifying Party shall not, without
the written consent of the Indemnified Party, (i) settle any Third Party Claim or consent to the entry of any judgment with respect thereto
which does not include an unconditional written release of the Indemnified Party from all liability in respect of such Third Party Claim
or (ii) settle any Third Party Claim or consent to the entry of any judgment with respect thereto in any manner that may materially and
adversely affect the Indemnified Party (other than as a result of money damages covered by the indemnity).

 

(e)
If the Indemnifying Party does not admit its liability (which it will be deemed to have so done if it fails to timely respond) or admits
its liability but fails to diligently prosecute or settle the Third Party Claim, then the Indemnified Party shall have the right to defend
against the Third Party Claim at the sole cost and expense of the Indemnifying Party, with counsel of the Indemnified Party’s choosing,
subject to the right of the Indemnifying Party to admit its liability and assume the defense of the Claim at any time prior to settlement
or final determination thereof. If the Indemnifying Party has not yet admitted its liability for a Third Party Claim, the Indemnified
Party shall send written notice to the Indemnifying Party of any proposed settlement and the Indemnifying Party shall have the option
for ten (10) days following receipt of such notice to (i) admit in writing its liability for the Third Party Claim and (ii) if liability
is so admitted, reject, in its reasonable judgment, the proposed settlement.

 

(f)
In the case of a claim for indemnification not based upon a Third Party Claim, the Indemnifying Party shall have thirty (30) days from
its receipt of the Claim Notice to (i) cure the Losses complained of, (ii) admit its liability for such Loss or (iii) dispute the claim
for such Losses. If the Indemnifying Party does not notify the Indemnified Party within such thirty (30) day period that it has cured
the Losses or that it disputes the claim for such Losses, then the Indemnifying Party shall be deemed to be disputing the claim for such
Losses.

 

Section
11.8 Survival.

 

(a)
The (i) representations and warranties of Seller in ARTICLE V (other than Seller’s representation in Section 5.4
which shall survive for the lesser of: (i) seven (7) years; (ii) the applicable statute of limitations; or (iii) the time for which Seller
has owned the Assets) and (ii) the covenants and agreements of Seller contained herein to be performed prior to Closing, shall, in each
case, survive the Closing for a period of two (2) years after the Closing Date. The representations, warranties, covenants and agreements
of Purchaser contained herein shall survive without time limit.

 

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(b)
Subject to Section 11.8 and except as set forth in Section 11.8(c), the remainder of this Agreement shall survive the Closing
without time limit. Representations, warranties, covenants and agreements shall be of no further force and effect after the date of their
expiration; provided that there shall be no termination of any bona fide claim asserted pursuant to this Agreement with respect to such
a representation, warranty, covenant or agreement prior to its expiration date.

 

(c)
The indemnities in Section 11.2(a) and Section 11.3(b) shall terminate as of the termination date of each respective representation,
warranty, covenant or agreement that is subject to indemnification, except, in each case, as to matters for which a specific written
claim for indemnity has been delivered to the Indemnifying Party on or before such termination date. The indemnities in Section 11.3(a)
shall survive the Closing for a period of two (2) years after the Closing Date. The indemnities in Section 11.3(d), Section
11.3(e), and Section 11.3(f) shall survive the Closing for a period of eighteen (18) months after the Closing Date. The indemnities
in Section 11.2(b) and Section 11.3(c) shall survive the Closing without time limit.

 

Section
11.9 Waiver of Right to Rescission. Seller and Purchaser acknowledge that, following the Closing, the payment of money, as limited
by the terms of this Agreement, shall be adequate compensation for breach of any representation, warranty, covenant or agreement contained
herein or for any other claim arising in connection with or with respect to the transactions contemplated by this Agreement. As the payment
of money shall be adequate compensation, following the Closing, Purchaser and Seller waive any right to rescind this Agreement or any
of the transactions contemplated hereby.

 

Section
11.10 Non-Compensatory Damages . No Indemnified Parties shall be entitled to recover from an Indemnifying Party or its
Affiliates any indirect, special, incidental, consequential, punitive, exemplary, remote or speculative damages or damages for lost
profits of any kind arising under or in connection with this Agreement or the transactions contemplated hereby, except to the extent
any such Party suffers such damages to a Third Party, which damages (including costs of defense and reasonable attorneys’ fees
incurred in connection with defending against such damages) shall not be excluded by this provision as to recovery
hereunder.

 

Section
11.11 Insurance. The amount of any Losses for which any of the Purchaser Group or Seller Group is entitled to indemnification under
this Agreement or in connection with or with respect to the transactions contemplated by this Agreement shall be reduced by any corresponding
insurance proceeds actually received by any such indemnified Party under any insurance arrangements.

 

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ARTICLE
XII

CERTAIN ADDITIONAL AGREEMENTS

 

Section
12.1 Post-Closing Settlement Statement.

 

(a)
As soon as reasonably practicable after the Closing Date, but in no event longer than ninety (90) days after the Closing Date (the “Final
Settlement Date”), Seller shall prepare, in accordance with this Agreement, and deliver to Purchaser, a final statement (the
“Final Settlement Statement”) setting forth each adjustment to the Purchase Price in accordance with Section 3.2
and Section 3.3. The Final Settlement Statement also will include any adjustments necessary because Seller chose to attempt
to cure a Title Defect under Section 4.3 of this Agreement. As soon as reasonably practicable, but in any event within thirty
(30) days after receipt of the Final Settlement Statement, Purchaser shall return to Seller a written report containing any proposed
changes to the Final Settlement Statement and an explanation of any such changes and the reasons therefor (the “Dispute Notice”).
Purchaser’s failure to deliver to Seller a Dispute Notice detailing proposed changes to the Final Settlement Statement by such
date shall be deemed to be an acceptance by Purchaser of the Final Settlement Statement delivered by Seller, and Seller’s determinations
with respect to all such adjustments in the Final Settlement Statement that are not addressed in the Dispute Notice shall prevail. The
Parties shall undertake to agree on the Adjusted Purchase Price no later than one hundred eighty (180) days after the Closing Date (the
“Target Settlement Date”). If the final Purchase Price set forth in the Final Settlement Statement is mutually agreed
upon by Seller and Purchaser prior to the Target Settlement Date or is deemed agreed pursuant to the foregoing (or determined by the
Accounting Arbitrator pursuant to Section 12.1(b)), the Final Settlement Statement and such final Adjusted Purchase Price (the
“Final Price”), shall be final and binding on the Parties. Any difference in the Adjusted Purchase Price as paid at
Closing pursuant to the Preliminary Settlement Statement and the Final Price shall be paid by the owing Party on or before the date that
is ten (10) days following agreement or deemed agreement (or determination by the Accounting Arbitrator, as applicable) (such date, the
“Final Payment Date”) to the owed Party. All amounts paid or transferred pursuant to this Section 12.1(a) shall
be delivered in United States currency by wire transfer of immediately available funds to the account specified in writing by the relevant
Party.

 

(b)
If Seller and Purchaser cannot reach agreement on the Final Price by the Target Settlement Date, either Party may refer the remaining
issues in dispute to the Agreed Accounting Firm. If such issues in dispute are submitted to the Agreed Accounting Firm for resolution,
Seller and Purchaser will each enter into a customary engagement letter with the Agreed Accounting Firm at the time the issues in dispute
are submitted to the Agreed Accounting Firm. Within ten (10) days of the appointment of the Agreed Accounting Firm, each of Seller and
Purchaser shall present the Agreed Accounting Firm with its position on the issues in dispute with respect to the Final Price, and all
other supporting information that it deems relevant, with a copy to the other Party. The Agreed Accounting Firm shall also be provided
with a copy of this Agreement by Seller. Within forty-five (45) days after receipt of such materials, the Agreed Accounting Firm shall
make its determination by selecting the position of either Seller or Purchaser for each of the issues presented to the Agreed Accounting
Firm, which determination shall be final and binding upon all Parties and, absent manifest error, without right of appeal. In making
its determination, the Agreed Accounting Firm shall be bound by the standards and rules set forth in ARTICLE IV (if applicable)
and this Section 12.1 with regard to valuations. The Agreed Accounting Firm may not award damages, interest or penalties to either
Party with respect to any matter. Seller and Purchaser shall each bear its own legal fees and other costs of presenting its case. Each
Party shall bear one-half of the costs and expenses of the Agreed Accounting Firm.

 

Section
12.2 Suspended Funds. Schedule 5.11 is a listing showing estimated net proceeds from production attributable to the Assets
which are held in suspense by Seller as of the Closing Date (the “Suspense Funds”) because of lack of identity or
address of owners, title defects, change of ownership, netting, over/under distributions or similar reasons. As soon as reasonably practicable
after the Closing, but in no event longer than ninety (90) days after the Closing Date, Seller shall provide Purchaser an updated Schedule
5.11, and shall credit Purchaser an amount equal to the Suspense Funds in the Final Settlement Statement. Purchaser shall be responsible
for proper distribution of all the Suspense Funds to the Persons lawfully entitled to them, and effective upon Closing, Purchaser hereby
protects, defends, indemnifies and holds Seller harmless against any and all Losses associated with claims against the Suspense Funds.

 

    	30

    	 

    

 

Section
12.3 Receipts and Credits. Subject to the following sentence, after the Parties’ agreement (or deemed agreement) upon the
Final Settlement Statement, then, to the extent not accounted for in the Final Settlement Statement, if (i) any Party receives monies
belonging to the other, including proceeds of production, then such amount shall, within five (5) Business Days after the end of the
month in which such amounts were received, be paid over to the proper Party, (ii) any Party pays monies for Property Expenses which are
the obligation of the other Party hereto, then such other Party shall, within five (5) Business Days after the end of the month in which
the applicable invoice and proof of payment of such invoice were received, reimburse the Party which paid such Property Expenses, (iii)
a Party receives an invoice of an expense or obligation which is owed by the other Party, such Party receiving the invoice shall promptly
forward such invoice to the Party obligated to pay the same, and (iv) an invoice or other evidence of an obligation is received by a
Party, which is partially an obligation of both Seller and Purchaser, then the Parties shall consult with each other, and each shall
promptly pay its portion of such obligation to the obligee. Notwithstanding anything herein to the contrary, from and after the first
anniversary of the Closing Date, Seller shall have no liabilities or obligations with respect to pre-Effective Time Property Expenses.
Each of Seller and Purchaser shall be permitted to offset any Property Expenses owed by such Party to the other Party pursuant to this
Section 12.3 against amounts owing by the second Party to the first Party pursuant to this Section 12.3, but not otherwise.

 

Section
12.4 Records; Retention.

 

(a)
Within thirty (30) days after Closing, Seller will deliver to Purchaser, at Purchaser’s cost and request, copies of files, records,
and data relating to the Assets (the “Records”) including title records (including abstracts of title, title opinions,
title reports, and title curative documents), the Existing Contracts, correspondence and all related matters in the possession of Seller
(but excluding corporate, financial, tax, and general accounting records, any document subject to the attorney-client or other privilege,
and any document, data, or other information where disclosure is restricted by agreement with a third party). Purchaser must advise Seller
before Closing which such files, records and data it wants copied.

 

(b)
Purchaser, for a period of three (3) years following the Closing, will (a) retain the Records, (b) provide Seller, its Affiliates and
its and their officers, employees and representatives with access to the Records (to the extent that Seller has not retained the original
or a copy) during normal business hours for review and copying at Seller’s expense, and (c) provide Seller, its Affiliates and
its and their officers, employees and representatives with access, during normal business hours, to materials received or produced after
the Closing relating to any indemnity claim made under Section 11.3 for review and copying at Seller’s expense.

 

Section
12.5 Recording. As soon as practicable after Closing, Purchaser, at its sole cost, shall record the Assignment in the appropriate
counties and provide Seller with copies of the recorded Assignment.

 

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Section
12.6 Filing for Approvals.

 

(a)
Purchaser, at its sole cost, shall no later than sixty (60) Business Days after Closing:

 

(i)
file for approval with any governmental authorities having jurisdiction (including state, federal, tribal, and local) the transfer documents
required to effectuate the transfer of the Assets;

 

(ii)
execute, acknowledge (if necessary), and exchange, as applicable, any applications necessary to transfer to Purchaser any transferable
Permits to which the Assets are subject, and which Seller has agreed to transfer under this Agreement;

 

(iii)
file all appropriate forms, declarations, and bonds (or other authorized forms of security) with all applicable governmental authorities
and third parties relative to Purchaser’s assumption of operations or the transfer of the Assets; and

 

(iv)
prepare and execute appropriate change of operator notices and third-party ballots required under applicable operating agreements.

 

(b)
After Closing, the Parties further agree to take all other actions required of it by governmental authorities having jurisdiction to
obtain all requisite regulatory approval with respect to this transaction, and to use their commercially reasonable efforts to obtain
unconditional approval by such authorities of any transfer documents requiring governmental approval in order for Purchaser to be recognized
as owner of the Assets. Each Party agrees to provide the other Party with approved copies of the documents contemplated by this Section
12.6, as soon as they are available.

 

Section
12.7 Further Cooperation. After Closing, Seller and Purchaser agree to take such further actions and to execute, acknowledge and
deliver all such further documents that are reasonably necessary or useful in carrying out the purposes of this Agreement or of any document
delivered pursuant to this Agreement.

 

ARTICLE
XIII

TAXES

 

Section
13.1 Apportionment of Ad Valorem and Property Taxes. All Property Taxes with respect to the tax period in which the Effective Time
occurs shall be apportioned as of the Effective Time between Seller and Purchaser. The Parties will make final settlement of all Property
Taxes by estimating the Property Taxes to be due for the tax period in which the Effective Time occurs based on the Property Taxes assessed
and paid for the immediately prior tax period. Such settlement of taxes shall be part of the Final Settlement Statement between the Parties.
If Property Taxes have not been paid before Closing, Purchaser shall pay the Property Taxes and shall be credited for Seller’s
portion of the Property Taxes under Section 3.3(g). If Property Taxes have been paid before Closing, Seller shall be credited
for Purchaser’s portion of the Property Taxes under Section 3.2(c). Purchaser shall be responsible for all subsequent Property
Taxes and interest that are applied to the Assets for the periods or portions thereof after the Effective Time.

 

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Section
13.2 Sales Taxes. The Purchase Price is exclusive of any sales taxes or other similar taxes in connection with the sale of the
Assets. If any sales or other similar taxes are assessed, Purchaser shall be solely responsible for the payment of such taxes. Purchaser
shall be responsible for any applicable conveyance, transfer and recording fees, and real estate transfer stamps or taxes imposed on
the transfer of the Assets pursuant to this Agreement. If Seller is required to pay any such taxes, then Purchaser will reimburse Seller
for such amounts.

 

Section
13.3 Severance and Production Taxes. Seller shall bear and pay all Severance Taxes, to the extent attributable to production from
the Assets before the Effective Time. Purchaser shall bear and pay all such Severance Taxes on production from the Assets on and after
the Effective Time. Seller shall withhold and pay on behalf of Purchaser all such Severance Taxes on production from the Assets between
the Effective Time and the Closing Date, if the Closing Date follows the Effective Time, and the amount of any such payment shall be
reimbursed to Seller as a Closing adjustment to the Purchase Price pursuant to Section 12.1. If either Party pays Severance taxes
owed by the other under this Agreement, upon receipt of evidence of payment the nonpaying Party will reimburse the paying Party promptly
for its proportionate share of such taxes.

 

Section
13.4 Cooperation. Each Party shall provide the other Party with reasonable information which may be required by the other Party
for the purpose of preparing tax returns and responding to any audit by any taxing jurisdiction. Each Party shall cooperate with all
reasonable requests of the other Party made in connection with contesting the imposition of taxes. Notwithstanding anything to the contrary
in this Agreement, neither Party shall be required at any time to disclose to the other Party any tax returns or other confidential tax
information.

 

Section
13.5 Like-Kind Exchange. Each Party consents to the other Party’s assignment of its rights and obligations under this Agreement
to its affiliate or its Qualified Intermediary (as that term is defined in Section 1.1031(k)-l(g)(4)(v) of the Treasury Regulations)
and/or to its Qualified Exchange Accommodation Titleholder (as that term is defined in Rev. Proc. 2007-37 issued effective September
15, 2000) in connection with the effectuation of a Like-Kind Exchange Transaction. However, Seller and Purchaser acknowledge and agree
that any assignment of this Agreement to its affiliate or a Qualified Intermediary or Qualified Exchange Accommodation Titleholder does
not release either Party from any of its respective liabilities and obligations to the other Party under this Agreement. If requested
by the other Party, each Party agrees to cooperate with the other Party (to the extent reasonable) to attempt to structure the transaction
as a Like-Kind Exchange Transaction. If a Like-Kind Exchange Transaction occurs, the Parties recognize that IRS Form 8824, Like-Kind
Exchanges, will be required to be filed, and each Party consents to the filing of such Form and will fully cooperate, to the extent necessary,
with the other Party in filing such form.

 

Section
13.6 IRS Form 8594. If the Parties mutually agree that a filing of IRS Form 8594 is required, then the Parties will confer and
cooperate in the preparation and filing of their respective forms to reflect consistent reporting of the agreed upon allocation of the
value of the Assets.

 

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ARTICLE
XIV

DISCLAIMERS AND WAIVERS

 

Section
14.1 Condition of the Assets. PURCHASER ACKNOWLEDGES AND AGREES THAT, SUBJECT TO THE PROVISIONS OF ARTICLE IV AND PURCHASER’S
RIGHTS UPON A BREACH BY SELLER OF ANY OF ITS REPRESENTATIONS OR WARRANTIES CONTAINED IN ARTICLE V, PURCHASER SHALL ACQUIRE THE
ASSETS (INCLUDING ASSETS FOR WHICH A DEFECT NOTICE IS GIVEN UNDER ARTICLE IV) IN AN “AS IS, WHERE IS” CONDITION AND
SHALL ASSUME ALL RISKS THAT THE ASSETS MAY CONTAIN WASTE MATERIALS (WHETHER TOXIC, HAZARDOUS, EXTREMELY HAZARDOUS OR OTHERWISE) OR OTHER
ADVERSE PHYSICAL CONDITIONS, INCLUDING THE PRESENCE OF UNKNOWN ABANDONED WELLS, PUMPS, PITS, PIPELINES OR OTHER WASTE OR SPILL SITES
WHICH MAY NOT HAVE BEEN REVEALED BY PURCHASER’S ENVIRONMENTAL ASSESSMENT. UPON THE OCCURRENCE OF CLOSING, BUT SUBJECT TO PURCHASER’S
RIGHTS UPON A BREACH BY SELLER OF ANY OF ITS REPRESENTATIONS OR WARRANTIES CONTAINED IN ARTICLE V, IF APPLICABLE, ALL RESPONSIBILITY
AND LIABILITY RELATED TO SUCH CONDITIONS, WHETHER KNOWN OR UNKNOWN, FIXED OR CONTINGENT, SHALL BE TRANSFERRED FROM SELLER TO PURCHASER
WITHOUT RECOURSE AGAINST SELLER. WITHOUT LIMITING THE FOREGOING BUT SUBJECT TO PURCHASER’S RIGHTS UPON A BREACH BY SELLER OF ANY
OF ITS REPRESENTATIONS OR WARRANTIES CONTAINED IN ARTICLE V, IF APPLICABLE, EFFECTIVE AS OF CLOSING, PURCHASER WAIVES ITS RIGHT
TO RECOVER FROM SELLER AND FOREVER RELEASES AND DISCHARGES THE SELLER GROUP FROM ANY AND ALL LOSSES, WHETHER DIRECT OR INDIRECT, KNOWN
OR UNKNOWN, FORESEEN OR UNFORESEEN, THAT MAY ARISE OR MAY HAVE ARISEN PRIOR TO, ON OR AFTER THE EFFECTIVE TIME ON ACCOUNT OF OR IN ANY
WAY CONNECTED WITH THE ENVIRONMENTAL OR OTHER PHYSICAL CONDITION OF THE ASSETS OR ANY VIOLATION BY SELLER, PURCHASER OR ANY OTHER PARTY
OF ANY APPLICABLE LEASE, CONTRACT OR OTHER INSTRUMENT (BUT ONLY TO THE EXTENT SUCH RELATES TO THE ENVIRONMENTAL OR PHYSICAL CONDITION
OF THE PROPERTY) OR OF ANY APPLICABLE EXISTING OR FUTURE ENVIRONMENTAL LAW, REGULATION, ORDER OR OTHER DIRECTIVE OF ANY GOVERNMENTAL
AUTHORITY, HAVING JURISDICTION APPLICABLE THERETO, INCLUDING WITHOUT LIMITATION, ALL ENVIRONMENTAL LAWS. PURCHASER IS AWARE THAT THE
ASSETS HAVE BEEN USED FOR EXPLORATION, DEVELOPMENT AND PRODUCTION OF OIL AND GAS AND THAT THERE MAY BE PETROLEUM, PRODUCED WATER, WASTES
OR OTHER MATERIALS LOCATED ON OR UNDER THE LANDS COVERED BY THE LEASES (OR LANDS POOLED OR ASSOCIATED THEREWITH). EQUIPMENT AND SITES
INCLUDED IN THE ASSETS MAY CONTAIN ASBESTOS, HAZARDOUS SUBSTANCES OR NORM. NORM MAY AFFIX OR ATTACH ITSELF TO THE INSIDE OF WELLS, MATERIALS
AND EQUIPMENT AS SCALE, OR IN OTHER FORMS. THE WELLS, MATERIALS AND EQUIPMENT LOCATED ON THE LEASES OR LANDS POOLED OR ASSOCIATED THEREWITH
MAY CONTAIN NORM AND OTHER WASTES OR HAZARDOUS SUBSTANCES, AND NORM-CONTAINING MATERIAL AND OTHER WASTES MAY HAVE BEEN BURIED, COME IN
CONTACT WITH THE SOIL, OR OTHERWISE BEEN DISPOSED OF ON OR UNDER THE LANDS COVERED BY THE LEASES OR LANDS POOLED OR ASSOCIATED THEREWITH.
SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMEDIATION, REMOVAL, TRANSPORTATION OR DISPOSAL OF WASTES, ASBESTOS, HAZARDOUS SUBSTANCES
AND NORM FROM THE ASSETS.

 

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Section
14.2 Other Disclaimers by Seller. EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED FOR IN ARTICLE V OF THIS AGREEMENT, PURCHASER
ACKNOWLEDGES AND AGREES THAT SELLER EXPRESSLY DISCLAIMS AND NEGATES ANY REPRESENTATION OR WARRANTY, EXPRESS, STATUTORY OR IMPLIED, AS
TO (A) TITLE TO ANY OF THE ASSETS, (B) THE CONTENTS, CHARACTER OR NATURE OF ANY REPORT OF ANY PETROLEUM ENGINEERING CONSULTANT, OR ANY
ENGINEERING, GEOLOGICAL OR SEISMIC DATA OR INTERPRETATION, RELATING TO THE ASSETS, (C) THE QUANTITY, QUALITY OR RECOVERABILITY OF HYDROCARBONS
IN OR FROM THE ASSETS, (D) ANY ESTIMATES OF THE VALUE OF THE ASSETS OR FUTURE REVENUES GENERATED BY THE ASSETS, (E) THE ABILITY TO PRODUCE
HYDROCARBONS FROM THE ASSETS, (F) THE MAINTENANCE, REPAIR, CONDITION, QUALITY, SUITABILITY, DESIGN OR MARKETABILITY OF THE ASSETS, (G)
THE CONTENT, CHARACTER OR NATURE OF ANY INFORMATION MEMORANDUM, REPORTS, BROCHURES, CHARTS OR STATEMENTS PREPARED BY SELLER OR THIRD
PARTIES WITH RESPECT TO THE ASSETS, (H) ANY OTHER MATERIALS OR INFORMATION THAT MAY HAVE BEEN MADE AVAILABLE TO PURCHASER OR ITS AFFILIATES,
OR ITS OR THEIR EMPLOYEES, AGENTS, CONSULTANTS, REPRESENTATIVES OR ADVISORS IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT OR ANY DISCUSSION OR PRESENTATION RELATING THERETO AND (I) ANY IMPLIED OR EXPRESS WARRANTY OF FREEDOM FROM PATENT OR TRADEMARK
INFRINGEMENT. EXCEPT AS AND TO THE LIMITED EXTENT EXPRESSLY REPRESENTED OTHERWISE IN ARTICLE V AND SECTION 4.2(b) OF THIS
AGREEMENT, SELLER FURTHER DISCLAIMS ANY REPRESENTATION OR WARRANTY, EXPRESS, STATUTORY OR IMPLIED, OF MERCHANTABILITY, FREEDOM FROM LATENT
VICES OR DEFECTS, FITNESS FOR A PARTICULAR PURPOSE OR CONFORMITY TO MODELS OR SAMPLES OF MATERIALS OF ANY OF THE ASSETS, RIGHTS OF A
PURCHASER UNDER APPROPRIATE STATUTES TO CLAIM DIMINUTION OF CONSIDERATION OR RETURN OF THE PURCHASE PRICE, OR RIGHTS OF A PURCHASER UNDER
DECEPTIVE TRADE PRACTICE STATUES, CONSUMER PROTECTION STATUES OR OTHER SIMILAR STATUES, IT BEING EXPRESSLY UNDERSTOOD AND AGREED BY THE
PARTIES THAT PURCHASER SHALL BE DEEMED TO BE OBTAINING THE ASSETS IN THEIR PRESENT STATUS, CONDITION AND STATE OF REPAIR, “AS IS”
AND “WHERE IS” WITH ALL FAULTS OR DEFECTS (KNOWN OR UNKNOWN, LATENT, DISCOVERABLE OR UNDISCOVERABLE), AND THAT PURCHASER
HAS MADE OR CAUSED TO BE MADE SUCH INSPECTIONS AS PURCHASER DEEMS APPROPRIATE.

 

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ARTICLE
XV

TERMINATION

 

Section
15.1 Right of Termination. This Agreement and the transactions contemplated herein may be terminated at any time prior to the Closing:

 

(a)
by the mutual written agreement of the Parties;

 

(b)
by delivery of written notice from Purchaser to Seller if any of the conditions set forth in ARTICLE VIII (other than the conditions
set forth in Section 8.3 and Section 8.4) have not been satisfied by Seller (or waived by Purchaser) by the Longstop Date;

 

(c)
by delivery of written notice from Seller to Purchaser if any of the conditions set forth in ARTICLE IX (other than the conditions
set forth in Section 9.3 and Section 9.4) have not been satisfied by Seller (or waived by Purchaser) by the Longstop Date;

 

(d)
by either Party delivering written notice to the other Party if any of the conditions set forth in Section 8.3, Section 8.4,
Section 9.3, or Section 9.4 are not satisfied or waived by the applicable Party on or before the Longstop Date; and

 

(e)
by either Party at any time during which (i) the conditions set forth in ARTICLE VIII and ARTICLE IX (other than those
conditions that by their terms are to be satisfied at Closing) have been satisfied or waived in accordance with this Agreement, (ii)
such Party has indicated in writing to the other Party that it is ready, willing and able to consummate the Closing, and (iii) the other
Party shall have failed to consummate the Closing by the close of business on the third (3rd) Business Day following the other Party’s
receipt of such written notification;

 

Provided
however, that no Party shall have the right to terminate this Agreement pursuant to clause (b), (c), (d), or (e)
above if such Party is at such time in material breach of any provision of this Agreement.

 

Section
15.2 Effect of Termination. If this Agreement is terminated pursuant to any provision of Section 15.1, then, except as provided
in this Section 15.2 (and except for the provisions of Section 4.2(a), Section 7.4, Section 11.1, ARTICLE
XIV, this ARTICLE XV, and ARTICLE XVI), this Agreement shall forthwith become void and of no further force or effect
and the Parties shall have no liability or obligation hereunder.

 

(a)
If Seller has the right to terminate this Agreement pursuant to Section 15.1(c) because of a Willful Breach by Purchaser of the
this Agreement, or Section 15.1(e) above, Seller shall be entitled to (1) terminate this Agreement pursuant to Section 15.1
and retain the Deposit as liquidated damages, and not as a penalty, for such termination, free and clear of any claims thereon by
Purchaser, or (2) seek the specific performance of Purchaser hereunder. The Parties agree that, should Seller elect the option under
subpart (1) above, the foregoing described liquidated damages are reasonable considering all of the circumstances existing as of the
date of the execution of this Agreement and constitute the Parties’ good faith estimate of the actual damages reasonably expected
to result from such termination of this Agreement by Seller.

 

    	36

    	 

    

 

(b)
If Purchaser has the right to terminate this Agreement pursuant to Section 15.1(b) because of a Willful Breach by Seller of this
Agreement, or Section 15.1(e) above, Purchaser shall be entitled to (1) terminate this Agreement pursuant to Section 15.1
and receive the Deposit from Seller, and (2) seek to recover damages from Seller up to but not exceeding the amount of the Deposit. If
Purchaser is entitled to the return of the Deposit pursuant to this Section 15.2(b), Seller shall return the Deposit to Purchaser
within five (5) Business Days of the date this Agreement is terminated.

 

(c)
If this Agreement is terminated for any reason other than as set forth in Section 15.2(a) or Section 15.2(b), then the
Parties shall have no liability or obligation hereunder as a result of such termination, and Seller shall, within five (5) Business Days
of the date this Agreement is terminated, return the Deposit to Purchaser free and clear of any claims thereon by Seller.

 

(d)
Subject to the foregoing, upon the termination of this Agreement neither Party shall have any other liability or obligation hereunder
and following any termination of this Agreement, Seller shall be free to all the rights and benefits associated with the ownership of
the Assets, including the right to sell the Assets at Seller’s discretion, without any claim by Purchaser with respect thereto.

 

Section
15.3 Return of Documentation and Confidentiality. Upon any termination of this Agreement, Purchaser shall return to Seller all
title, engineering, geological and geophysical data, environmental assessments and/or reports, maps, documents and other information
furnished by Seller to Purchaser or prepared by or on behalf of Purchaser in connection with its due diligence investigation of the Assets
and an officer of Purchaser shall certify same to Seller in writing.

 

ARTICLE
XVI

MISCELLANEOUS

 

Section
16.1 Entire Agreement. This Agreement, including all Schedules and Exhibits attached hereto, constitutes the entire agreement between
the Parties as to the subject matter of this Agreement and supersedes all prior agreements, understandings, negotiations and discussions
of the Parties, whether oral or written. No supplement, amendment, alteration, modification or waiver of this Agreement shall be binding
unless executed in writing by the Parties.

 

Section
16.2 References and Rules of Construction. All references in this Agreement to Exhibits, Schedules, Articles, Appendices, Sections
and other subdivisions refer to the corresponding Exhibits, Schedules, Articles, Appendices, Sections and other subdivisions of or to
this Agreement unless expressly provided otherwise. Titles appearing at the beginning of any such subdivisions are for convenience only
and shall be disregarded in construing the language hereof. The words “this Agreement,” “herein,” “hereby,”
“hereunder” and “hereof,” and words of similar import, refer to this Agreement as a whole and not to any particular
subdivision unless expressly so limited. Pronouns in masculine, feminine, and neuter genders shall be construed to include any other
gender, and words in the singular form shall be construed to include the plural and vice versa, unless the context otherwise requires.
Derivatives and other forms of the terms defined in this Agreement shall have meanings consistent with the definitions herein provided.
The term “including” (or “included”) shall be deemed to be followed by the phrase “but not limited to.”
Unless otherwise expressly provided herein, any reference herein to a “day” shall refer to a calendar day. All references
to “$” or “dollars” shall be deemed references to United States
dollars. The words “shall” and “will” are used interchangeably throughout this Agreement and shall accordingly
be given the same meaning, regardless of which word is used.

 

    	37

    	 

    

 

Section
16.3 Assignment. This Agreement may not be assigned by Purchaser without the prior written consent of Seller. In the event that
Seller consents to any such assignment, such assignment shall not relieve Purchaser of any of its obligations and responsibilities hereunder.
Any assignment or other transfer by Purchaser or its successors and assigns of any of the Assets shall not relieve Purchaser or its successors
or assigns of any of their obligations (including indemnity obligations) hereunder, as to the Assets so assigned or transferred.

 

Section
16.4 Waiver. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions
of this Agreement (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided.

 

Section
16.5 Conflict of Law Jurisdiction, Venue. THIS AGREEMENT AND THE LEGAL RELATIONS AMONG SELLER AND PURCHASER SHALL BE GOVERNED AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, EXCLUDING ANY CONFLICTS OF LAW RULE OR PRINCIPLE THAT WOULD REQUIRE THE
APPLICATION OF ANY OTHER LAW. EACH OF SELLER AND PURCHASER CONSENT TO THE EXERCISE OF JURISDICTION IN PERSONAM BY THE COURTS OF THE STATE
OF TEXAS FOR ANY ACTION ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY. ALL ACTIONS
OR PROCEEDINGS WITH RESPECT TO, ARISING DIRECTLY OR INDIRECTLY IN CONNECTION WITH, OUT OF, RELATED TO OR FROM THIS AGREEMENT OR THE OTHER
TRANSACTION DOCUMENTS SHALL BE EXCLUSIVELY LITIGATED IN COURTS HAVING SITES IN DALLAS, DALLAS COUNTY, TEXAS.

 

Section
16.6 Notices. All notices and communications required or permitted to be given hereunder shall be in writing and shall be delivered
personally, by email (provided that confirmation of receipt of such email is requested and received, which confirmation shall be provided
reasonably promptly following receipt) or sent by bonded overnight courier, or mailed by U.S. Express Mail or by certified or registered
United States Mail with all postage fully prepaid, addressed to Seller or Purchaser, as appropriate, at the address for such Person shown
below or at such other address as Seller or Purchaser shall have theretofore designated by written notice delivered to the other Parties:

 

If
to Seller:

 

ETXENERGY,
LLC

5950
Berkshire Lane, Suite 1100

Dallas,
Texas 75225

Attention:
Garrett M. Godwin, Vice President – Land

Phone:
(214) 323-4517

Email:
garrett@eagleog.com

 

    	38

    	 

    

 

With
a copy to (which shall not constitute notice to Seller):

 

ETXENERGY,
LLC

5950
Berkshire Lane, Suite 1100

Dallas,
Texas 75225

Attention:
Justin Zukoff, General Counsel

Phone:
(214) 323-4507

Email:
justin@eagleog.com

 

If
to Purchaser:

 

U.S.
ENERGY CORP.

1616
Voss, Suite 725

Houston,
Texas 77057

Attention:
Ryan Smith

Phone:
(346) 866-8734

Email:
Ryan@usnrg.com

 

With
a copy to (which shall not constitute notice to Purchaser):

 

R.
Reese and Associates, PLLC

777
Main St., Suite 600

Fort
Worth, Texas 776102

Attention:
Andrew Clinton

Email:
aclinton@rreeselaw.com

 

Any
notice given in accordance herewith shall be deemed to have been given been given as of the date of receipt by the intended Party.

 

Section
16.7 Timing. Timing is of the essence for performance of the Parties’ respective obligations hereunder; provided that if
the date specified in this Agreement for giving any notice or taking any action under this Agreement is not a Business Day (or if the
period during which any notice is required to be given or any action taken expires on a date which is not a Business Day), then the date
for giving such notice or taking such action (or the expiration date of such period during which notice is required to be given or action
taken) shall be the next day which is a Business Day.

 

Section
16.8 Confidentiality. Any information concerning the Assets (including any information discovered as a result of Purchaser’s
Environmental Assessment) or any aspect of the transactions contemplated by this Agreement shall be subject to the terms of the Confidentiality
Agreement. This obligation shall terminate on the earlier to occur of (a) the Closing, or (b) such time as the information and data in
question becomes generally available to the oil and gas industry other than through the breach these obligations by Purchaser or its
officers, employees or representatives.

 

Section
16.9 Publicity. Neither Seller nor Purchaser shall issue any media or other similar releases concerning this Agreement and the
transactions contemplated hereby without the prior written consent of the other Party, except as required to be issued by a Party pursuant
to applicable Law including the applicable rules or regulations of any governmental authority or stock exchange.

 

    	39

    	 

    

 

Section
16.10 Use of Seller’s Names. Purchaser agrees that, as soon as practicable after the Closing, but in no event longer than
sixty (60) days after Closing, it will remove or cause to be removed the names and marks used by Seller and all variations and derivatives
thereof and logos relating thereto from the Assets and Purchaser will not make any use whatsoever of such names, marks and logos.

 

Section
16.11 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any
rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect
so long as the economic or legal substance of the contemplated transactions is not affected in any material adverse manner to either
Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall
negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable
manner to the end that the contemplated transactions are fulfilled to the extent possible.

 

Section
16.12 Parties in Interest. The terms and provisions of this Agreement shall be binding upon and inure to the benefit of the Parties
and their respective successors and permitted assigns. Notwithstanding anything contained in this Agreement to the contrary, nothing
in this Agreement, expressed or implied, is intended to confer on any Person other than Seller and Purchaser and their respective successors
and permitted assigns, or the Parties’ respective related Indemnified Parties hereunder, any rights, remedies, obligations or liabilities
under or by reason of this Agreement, provided that only a Party and its respective successors and permitted assigns will have the right
to enforce the provisions of this Agreement on its own behalf or on behalf of any of its related Indemnified Parties.

 

Section
16.13 Conspicuousness. PURCHASER ACKNOWLEDGES THAT THE PROVISIONS OF THIS AGREEMENT THAT ARE PRINTED IN THE SAME MANNER AS THIS SECTION
ARE CONSPICUOUS.

 

Section
16.14 Execution in Counterparts. This Agreement may be executed in counterparts, and each such counterpart shall be deemed to be
an original instrument, but all such counterparts together shall constitute for all purposes one agreement. Facsimiles or other electronic
copies (e.g., PDFs) of executed counterparts shall be deemed to be original instruments

 

[Signature
Page Follows]

 

    	40

    	 

    

 

IN
WITNESS WHEREOF, Purchaser and Seller have caused this Agreement to be executed and delivered by their duly authorized representatives,
as of the dates set forth below.

 

	 	SELLER:
	 	 	 
	 	ETXENERGY, LLC
	 	 	 
	 	By:
    	/s/
S. Boone Morgan

	 	 	 
	 	Name:
    	S.
    Boone Morgan
	 	 	 
	 	Title:
    	Vice
    President, Operations & Engineering
	 	 	 
	 	Date:
    	06/29/2022
	 	 	 
	 	PURCHASER:
	 	 	 
	 	U.S. ENERGY CORP.
	 	 	 
	 	By:
    	/s/
    Ryan Smith
	 	 	 
	 	Name:
    	Ryan
    Smith
	 	 	 
	 	Title:
    	Chief
    Executive Officer
	 	 	 
	 	Date:
    	06/29/2022

 

Signature
Page to PSA – ETXEnergy and U.S. Energy Corp.

 

    	 

    	 

    

 

Appendix
A

Defined Terms

 

Capitalized
terms used in this Agreement have the following meanings:

 

“Adjusted
Purchase Price” has the meaning set forth in Section 3.4.

 

“AFE”
has the meaning set forth in Section 5.10.

 

“Affiliate”
means with respect to any Person, a Person that, directly or indirectly, through one or more entities, controls, is controlled by or
is under common control with the Person specified. For the purpose of the immediately preceding sentence, the term “control”
and its syntactical variants mean the power, direct or indirect, to direct or cause the direction of the management of such Person, whether
through the ownership of voting securities, by contract, agency or otherwise.

 

“Aggregate
Environmental Defect Deductible” has the meaning set forth in Section 4.12.

 

“Aggregate
Title Defect Deductible” has the meaning set forth in Section 4.6.

 

“Agreed
Accounting Firm” means MWH Group, P.C., or if MWH Group, P.C. does not agree to serve as the Agreed Accounting Firm, then such
nationally-recognized independent accounting firm as mutually agreed to by Purchaser and Seller; provided that if the Parties cannot
so agree within fourteen (14) days following the notification by MWH Group, P.C. that it does not agree to serve as the Agreed Accounting
Firm, then either Party can request that the Dallas, Texas office of the American Arbitration Association appoint such Agreed Accounting
Firm.

 

“Agreement”
has the meaning set forth in the Preamble.

 

“Allocated
Value” has the meaning set forth in Section 3.1.

 

“Asset
Taxes” means all Property Taxes and all Severance Taxes.

 

“Assets”
has the meaning set forth in Section 2.2.

 

“Assignment”
shall mean the Assignment and Bill of Sale from Seller to Purchaser pertaining to the Assets and substantially in the form of Exhibit
D.

 

“Assumed
Obligations” has the meaning set forth in Section 11.1.

 

“Business
Day” means a day (other than a Saturday or Sunday) on which commercial banks in Texas are generally open for business.

 

“Casualty
Loss” means an event where any of the Assets are (a) taken in condemnation or under the right of eminent domain, or (b) damaged
or destroyed by fire or other casualty or act of God.

 

“Claim
Notice” has the meaning set forth in Section 11.7(b).

 

    	Appendix A-1

    	 

    

 

“Closing”
has the meaning set forth in Section 10.1.

 

“Closing
Date” means the date upon which Closing occurs (or should occur assuming the conditions to Closing have been satisfied or waived
by the applicable Party).

 

“Confidentiality
Agreement” means the Confidentiality Agreement, dated as of May 15, 2022, among Seller and Purchaser.

 

“Customary
Post-Closing Consents” means those consents and approvals from governmental authorities for the assignment of the Assets to
Purchaser that are customarily obtained after such assignment of properties similar to the Assets.

 

“Defect
Notice Date” has the meaning set forth in Section 4.3.

 

“Defensible
Title” shall mean such title of Seller to the Wells that, as of the Effective Time and immediately prior to the Closing and
subject to Permitted Encumbrances:

 

(a)
with respect to the currently producing formation for a Well, entitles Seller to receive during the entirety of the productive life of
such Well not less than the Net Revenue Interest for such Well as set forth in Exhibit B, except for (i) decreases in connection
with those operations in which Seller or its successors or assigns may from and after the date of the execution of this Agreement be
a non-consenting co-owner, (ii) decreases resulting from the establishment or amendment from and after the date of the execution of this
Agreement of pools or units, (iii) decreases required to allow other Working Interest owners to make up past underproduction or pipelines
to make up past under deliveries, and (iv) as otherwise expressly set forth in Exhibit B;

 

(b)
with respect to the currently producing formation for a Well, obligates Seller to bear during the entirety of the productive life of
such Well not more than the Working Interest for such Well as set forth in Exhibit B, except (i) increases resulting from contribution
requirements with respect to defaulting co-owners under applicable operating agreements, (ii) increases to the extent that they are accompanied
by a proportionate increase in Seller’s Net Revenue Interest in such Well, (iii) increases resulting from the establishment or
amendment from and after the date of the execution of this Agreement of pools or units, and (iv) as otherwise expressly set forth in
Exhibit B; and

 

(c)
is free and clear of all Encumbrances.

 

“Deposit”
means an amount equal to Five Percent (5%) of the Purchase Price.

 

“Dispute
Notice” has the meaning set forth in Section 12.1(a).

 

“Eagle”
has the meaning set forth in Section 7.1(d).

 

“Effective
Time” means 11:59:59 p.m. (Dallas time) on June 30, 2022.

 

“Encumbrance”
means any lien, security interest, pledge, charge, defect or similar encumbrance.

 

    	Appendix A-2

    	 

    

 

“Environmental
Defect” means a condition with respect to the air, land, soil, surface, subsurface strata, surface water, ground water or sediments
that (a) constitutes a violation of Environmental Laws in effect as of the Effective Time in the jurisdiction to which the affected Assets
are subject, or (b) constitutes a physical condition that requires, if known, or will require, once sufficiently discovered, reporting
to a governmental authority, investigation, monitoring, removal, cleanup, remediation, restoration or correction under Environmental
Laws. For the avoidance of doubt, (i) the fact that a Well is no longer capable of producing sufficient quantities of oil or gas to continue
to be classified as a “producing well” or that such a Well should be temporarily abandoned or permanently plugged and abandoned
shall not, in each case, form the basis of an Environmental Defect, (ii) the fact that a pipe is temporarily not in use shall not form
the basis of an Environmental Defect, and (iii) except with respect to equipment (A) that causes or has caused any environmental pollution,
contamination or degradation where Remediation is presently required (or if known or confirmed, would be presently required) under Environmental
Laws or (B) the use or condition of which is a violation of Environmental Law in effect as of the Effective Time, the physical condition
of any surface or subsurface production equipment, including water or oil tanks, separators or other ancillary equipment, shall not form
the basis of an Environmental Defect. 

 

“Environmental
Defect Notice” has the meaning set forth in Section 4.10.

 

“Environmental
Defect Property” has the meaning set forth in Section 4.10.

 

“Environmental
Law” means any Laws pertaining to safety, health or conservation or protection of the environment, wildlife, or natural resources
in effect in any and all jurisdictions in which the Assets are located, including the Clean Air Act, as amended, the Federal Water Pollution
Control Act, as amended, the Safe Drinking Water Act, as amended, the Comprehensive Environmental Response, Compensation and Liability
Act, as amended (“CERCLA”), the Superfund Amendments and Reauthorization Act of 1986, as amended, the Resource Conservation
and Recovery Act, as amended (“RCRA”), the Hazardous and Solid Waste Amendments Act of 1984, as amended, the Toxic
Substances Control Act, as amended, the Occupational Safety and Health Act, as amended, and any applicable state, tribal, or local counterparts,
but shall not include any applicable Law associated with plugging and abandonment of any well. The terms “hazardous substance”,
“release”, and “threatened release” shall have the meanings specified in CERCLA; provided, however, that to the
extent the Laws of the state in which the Assets are located are applicable and have established a meaning for “hazardous substance”,
“release”, “threatened release”, “solid waste”, “hazardous waste”, and “disposal”
that is broader than that specified in CERCLA or RCRA, such broader meaning shall apply with respect to the matters covered by such Laws..

 

“Excluded
Assets” has the meaning set forth in Section 2.3.

 

“Existing
Contracts” means, except for any Excluded Asset, all contracts, agreements and instruments by which any of the Leases, Wells
or other Assets are bound, or to which any of the Leases, Wells or other Assets are subject (but in each case only to the extent applicable
to such Leases, Wells or other Assets and not to other properties of Seller or its Affiliates not included in the Assets), including
operating agreements, unitization, pooling and communitization agreements, declarations and orders, joint venture agreements, farmin
and farmout agreements, water rights agreements, exploration agreements, area of mutual interest agreements, participation agreements,
exchange agreements, transportation or gathering agreements, agreements for the sale and purchase of Hydrocarbons and processing agreements;
provided, that “Existing Contracts” shall exclude (a) any master service agreements, blanket agreements and similar contracts
and (ii) all of the instruments constituting the Leases, Rights-of-Way or creating or assigning any real property interest.

 

    	Appendix A-3

    	 

    

 

“Final
Payment Date” has the meaning set forth in Section 12.1(a).

 

“Final
Price” has the meaning set forth in Section 12.1(a).

 

“Final
Settlement Date” has the meaning set forth in Section 12.1(a).

 

“Final
Settlement Statement” has the meaning set forth in Section 12.1(a).

 

“GAAP”
means generally accepted accounting principles in the United States, consistently applied.

 

“Hydrocarbons”
means all oil and gas and all other hydrocarbons produced or processed in association therewith.

 

“Indemnity
Deductible” has the meaning set forth in Section 11.5(a).

 

“Individual
Environmental Defect Threshold” has the meaning set forth in Section 4.12.

 

“Individual
Title Defect Threshold” has the meaning set forth in Section 4.6.

 

“Imbalance”
means any Pipeline Imbalance or Well Imbalance.

 

“Indemnified
Party” has the meaning set forth in Section 11.7(a).

 

“Indemnifying
Party” has the meaning set forth in Section 11.7(a).

 

“Interim
Period” means the period from and after the execution of this Agreement up until the Closing.

 

“Knowledge”
means with respect to Seller, the actual knowledge (without investigation) of the Persons set forth on Schedule 5.

 

“Lands”
has the meaning set forth in Section 2.2(a).

 

“Law”
means any applicable law, statute, regulation, ordinance, order, code, ruling, writ, injunction, decree or other act of or by any governmental
authority (including any administrative, executive, judicial, legislative, regulatory or taxing authority).

 

“Leases”
has the meaning set forth in Section 2.2(a).

 

“Like-Kind
Exchange Transaction” means a like-kind exchange, in whole or in part, as provided in Section 1031 of the Internal Revenue
Code and the Treasury Regulations thereto, and if applicable, Rev. Proc. 2000-37, 2000-2 C.B. 308 (Sept. 18, 2000), as amended by Rev.
Proc. 2004-51, 2004-33 I.R.B. 294 (Jul. 20, 2004).

 

    	Appendix A-4

    	 

    

 

“Longstop
Date” has the meaning set forth in Section 10.1.

 

“Losses”
means any and all claims, causes of action, proceedings, hearings, payments, charges, judgments, injunctions, orders, decrees, assessments,
liabilities, losses, damages, penalties, fines, obligations, deficiencies, debts or costs and expenses, including any attorneys’
fees, legal or other expenses incurred in connection therewith and including liabilities, costs, losses and damages for personal injury
or death or property damage or environmental damage or Remediation.

 

“Material
Adverse Effect” means with respect to Seller, any event, result, occurrence, condition or circumstance that, individually or
in the aggregate (whether foreseeable or not and whether covered by insurance or not), results in a material adverse effect on the (a)
ownership or operation of the Assets, taken as a whole and as currently operated as of the date of the execution of this Agreement, or
(b) ability of any Seller to consummate the transactions contemplated by this Agreement and perform its obligations hereunder; provided,
however, that a Material Adverse Effect shall not include any material adverse effects resulting from: (i) entering into this Agreement
or the announcement of the transactions contemplated by this Agreement; (ii) changes in general market, economic, financial or political
conditions (including changes in commodity prices (including Hydrocarbons), fuel supply or transportation markets, interest or rates)
in the area in which the Assets are located, the United States or worldwide; (iii) conditions (or changes in such conditions) generally
affecting the oil and gas and/or gathering, processing or transportation industry whether as a whole or specifically in any area or areas
where the Assets are located; (iv) acts of God, including storms or meteorological events; (v) orders, actions or failures to act of
governmental authorities; (vi) pandemic; (vii) civil unrest or similar disorder, the outbreak of hostilities, terrorist acts or war;
(viii) any actions taken or omitted to be taken (A) by or at the written request or with the prior written consent of Purchaser or (B)
as expressly permitted or prescribed hereunder; (ix) matters that are cured or no longer exist by the earlier of the Closing and the
termination of this Agreement; (x) any Casualty Loss; (xi) a change in Laws or in GAAP interpretation from and after the date of the
execution of this Agreement; (xii) reclassification or recalculation of reserves in the ordinary course of business; and (xiii) natural
declines in well performance.

 

“Net
Revenue Interest” means with respect to the currently producing formation for any Well, the interest in and to all Hydrocarbons
produced, saved and sold from or allocated to such Well, after giving effect to all royalties, overriding royalties, production payments,
carried interests, net profits interests, reversionary interests and other burdens upon, measured by or payable out of production therefrom.

 

“Non-Op
Properties” has the meaning set forth in Section 7.1(c).

 

“NORM”
means naturally occurring radioactive material.

 

“Parties”
and “Party” has the meaning set forth in the Preamble.

 

    	Appendix A-5

    	 

    

 

“Permit”
means all permits, licenses, authorizations, registrations, consents or approvals (in each case) granted or issued by any governmental
authority.

 

“Permitted
Encumbrances” means with respect to any Asset, any of the following:

 

(a)
Any and all matters from which the Assets were acquired free and clear by Seller pursuant to the Sale Order;

 

(b)
the terms and conditions of all Leases and all lessor’s royalties, non-participating royalties, overriding royalties, reversionary
interests and similar burdens upon, measured by or payable out of production if the net cumulative effect of such Leases and burdens
does not operate to reduce the Net Revenue Interest of Seller in any Well below the Net Revenue Interest as set forth in Exhibit B
(as to the currently producing formation) for such Well and does not operate to increase the Working Interest of Seller in such Well
(as to the currently producing formation) above the Working Interest for such Well as set forth in Exhibit B (as to the currently
producing formation) for such Well (unless the Net Revenue Interest for such Well is greater than the Net Revenue Interest for such Well
as set forth in Exhibit B in the same proportion as any increase in such Working Interest);

 

(c)
Preferential Rights and consents (including Required Consents) to assignment and similar transfer restrictions or requirements;

 

(d)
liens for taxes or assessments not yet delinquent or, if delinquent, that are being contested in good faith in the normal course of business;

 

(e)
materialman’s, mechanic’s, repairman’s, employee’s, contractor’s, operator’s, and other similar liens
or charges arising in the ordinary course of business (i) if they have not been filed pursuant to Law, or (ii) if filed, they have not
yet become due and payable;

 

(f)
liens or Encumbrances in the form of a judgment secured by a supersedeas bond or other security approved by the court issuing the order;

 

(g)
the loss of lease acreage between the Effective Time and Closing because the lease term expires;

 

(h)
Customary Post-Closing Consents and any required notices to, or filings with, governmental authorities in connection with the consummation
of the transactions contemplated by this Agreement;

 

(i)
rights of reassignment arising upon final intention to abandon or release the Assets, or any of them;

 

(j)
the Rights-of-Way and, to the extent that they do not materially interfere with the operation of the Assets (as currently operated),
all other easements, rights-of-way, servitudes, Permits, surface leases and other rights relating to surface operations. facilities,
pipelines, transmission lines, transportation lines, distribution lines and other like purposes;

 

    	Appendix A-6

    	 

    

 

(k)
all other liens, charges, encumbrances, contracts, agreements, instruments, obligations, defects and irregularities affecting the Assets
which individually or in the aggregate are not such as to materially interfere with the operation of any of the Assets (as currently
operated), do not reduce the Net Revenue Interest of Seller in any Well below the Net Revenue Interest set forth on Exhibit B
(as to the currently producing formation) for such Well, and do not increase the Working Interest of Seller in such Well (as to the currently
producing formation) above the Working Interest set forth in Exhibit B (as to the currently producing formation) for such Well
(unless the Net Revenue Interest for such Well is greater than the Net Revenue Interest for such Well as set forth in Exhibit B
in the same proportion as any increase in such Working Interest);

 

(l)
all rights reserved to or vested in any governmental authority to control or regulate any of the Assets in any manner, and all applicable
Permits and Laws;

 

(m)
rights of a common owner of any interest in Rights-of-Way or Permits held by Seller and such common owner as tenants in common or through
common ownership;

 

(n)
liens created under Leases or Rights-of-Way included in the Assets and/or operating agreements or production sales contracts or by operation
of Law in respect of obligations that are not yet due or delinquent or, if delinquent, which are being contested in good faith by appropriate
procedures by or on behalf of Seller;

 

(o)
any Encumbrance affecting the Assets that is discharged by Seller at or prior to Closing;

 

(p)
any Title Defects that Purchaser may have expressly waived in writing or which are deemed to have been waived under Section 4.4,
or that do not meet the Individual Title Defect Deductible or Aggregate Title Defect Deductible as set forth in Section 4.6;

 

(q)
the terms and conditions of the Existing Contracts to the extent that they do not, individually or in the aggregate (i) reduce the Net
Revenue Interest of Seller in any Well below the Net Revenue Interest as set forth in Exhibit B (as to the applicable formation)
for such Well, (ii) does not operate to increase the Working Interest of Seller in such Well (as to the applicable formation) above the
Working Interest for such Well as set forth in Exhibit B (as to the applicable formation) for such Well (unless the Net Revenue
Interest for such Well is greater than the Net Revenue Interest for such Well as set forth in Exhibit B in the same proportion
as any increase in such Working Interest) or (iii) impair in any material respect the prudent or current ownership and/or operation of
any of the Assets by Seller (or by Purchaser as Seller’s successor-in-interest from and after Closing);

 

(r)
the terms and conditions of this Agreement;

 

(s)
all Imbalances;

 

(t)
the litigation, suits and proceedings set forth in Schedule 5.9; and

 

(u)
any matter that would not constitute a Title Defect under the terms of this Agreement.

 

    	Appendix A-7

    	 

    

 

“Person”
means an individual, corporation, partnership, association, trust, limited liability company or any other entity or organization, including
government or political subdivisions or an agency, unit or instrumentality thereof.

 

“Pipeline
Imbalance” means any marketing imbalance between the quantity of Hydrocarbons attributable to the Assets required to be delivered
by any Seller under any contract or Law relating to the purchase and sale, gathering, transportation, storage, processing or marketing
of such Hydrocarbons and the quantity of Hydrocarbons attributable to the Assets actually delivered by Seller pursuant to the relevant
contract or at Law, together with any appurtenant rights and obligations concerning production balancing at the delivery point into the
relevant sale, gathering, transportation, storage or processing facility.

 

“Plugging
and Abandonment Obligations” has the meaning set forth in Section 11.1(b).

 

“Preferential
Right” has the meaning set forth in Section 4.8.

 

“Preliminary
Settlement Statement” has the meaning set forth in Section 10.2.

 

“Property
Expenses” means all operating expenses (including Property Taxes and all insurance premiums or any other costs of insurance
attributable to Seller’s and/or its Affiliates’ insurance and to coverage periods from and after the Effective Time but excluding
in all cases, all costs and expenses of bonds, letters of credit or other surety instruments) and all capital expenditures (in each case)
incurred in the ownership and operation of the Assets in the ordinary course of business and, where applicable, in accordance with the
relevant operating or unit agreement, if any, and overhead costs charged to the Assets under the relevant operating agreement or unit
agreement, if any, or otherwise allocable to the Assets, but excluding all Losses attributable to (i) personal injury or death, property
damage or violation of any Law, (ii) Plugging and Abandonment Obligations, (iii) the Remediation of any environmental condition under
applicable Environmental Laws, (iv) obligations with respect to Imbalances, or (v) obligations to pay Working Interest owners, royalties,
overriding royalties or other interest owners revenues or proceeds attributable to sales of Hydrocarbons relating to the Assets, including
those held in suspense.

 

“Property
Taxes” means all ad valorem taxes, real property taxes, personal property taxes, and similar obligations relating to the Assets.

 

“Purchase
Price” has the meaning set forth in Section 3.1.

 

“Purchaser”
has the meaning set forth in the Preamble.

 

“Purchaser
Group” means Purchaser and its Affiliates and each of their respective officers, directors, employees, agents and representatives.

 

“Purchaser’s
Environmental Assessment” has the meaning set forth in Section 4.9.

 

“Records”
has the meaning set forth in Section 12.4(a).

 

    	Appendix A-8

    	 

    

 

“Remediation”
means with respect to an environmental condition or Environmental Defect, the response required or allowed under Environmental Laws that
completely addresses (for current and future use in the same manner as being currently used) the identified environmental condition or
Environmental Defect at the lowest cost (considered as a whole) as compared to any other response that is required or allowed under Environmental
Laws. “Remediation” may consist of or include taking no action, leaving the condition unaddressed, periodic monitoring, the
use of institutional controls or the recording of notices in lieu of remediation, in each case, if such response is allowed under Environmental
Laws and completely addresses and resolves (for current and future use in the same manner as being currently used) the identified environmental
condition or Environmental Defect.

 

“Remediation
Amount” means with respect to an environmental condition or Environmental Defect, the present value as of the Closing Date
of the cost (net to Seller’s interest) of the Remediation of such condition or defect; provided, however, that “Remediation
Amount” shall not include (a) the costs of Purchaser’s and/or its Affiliate’s employees, or, if Seller is conducting
the Remediation, Purchaser’s project manager(s) or attorneys, (b) expenses for matters that are ordinary costs of doing business
regardless of the presence of an Environmental Condition (e.g., those costs that would ordinarily be incurred in the day-to-day operations
of the Assets or in connection with Permit renewal/amendment activities), (c) overhead costs of Purchaser and/or its Affiliates, (d)
costs and expenses that would not have been required under Environmental Laws as they exist on the Closing Date or, if prior to the Closing
Date, the date on which the Remediation action is being undertaken, or (e) any costs or expenses relating to the assessment, remediation,
removal, abatement, transportation and disposal of any asbestos, asbestos-containing materials or NORM unless required to address a violation
of Environmental Law. Notwithstanding anything to the contrary in this Agreement, the aggregate Remediation Amounts attributable to the
effects of all Environmental Defects upon any Environmental Defect Property shall not exceed the Allocated Value of such Environmental
Defect Property.

 

“Required
Consent” means any consent or approval where the failure to obtain such consent or approval would cause (or give the lessor
or grantor the right to cause) (a) the assignment of the Assets affected thereby to Purchaser to be void or voidable, or (b) the termination
of or the right to terminate a Lease, Existing Contract or Right-of-Way under the express terms thereof.

 

“Rights-of-Way”
means, except for any Excluded Asset, all permits, licenses, servitudes, easements, fee surface, surface leases and rights-of-way primarily
used or held for use in connection with the ownership or operation of the Assets, other than Permits.

 

“Sale
Order” means that Order (A) Authorizing and Approving (I) the Asset Purchase Agreement for the Stalking Horse Assets; (II)
the Sale of the Debtor’s Stalking Horse Assets Free and Clear of All Liens, Claims, Encumbrances and Interests; and (III) the Assumption
and Assignment of Certain Executory Contracts and Unexpired Leases; and (B) Granting Related Relief; said Order being Docket Number 117
in Re: O’Benco IV, LP, Case No. 19-60384 before the United States Bankruptcy Court For The Eastern District Of Texas –
Tyler Division.

 

“Scheduled
Closing Date” has the meaning set forth in Section 10.1.

 

“Seller”
has the meaning set forth in the Preamble.

 

    	Appendix A-9

    	 

    

 

“Seller
Group” means Seller and its Affiliates and each of their respective directors, officers, employees, agents and representatives.

 

“Severance
Taxes” means all severance, production or other taxes measured by hydrocarbon production from the Assets, or the receipt of
proceeds therefrom.

 

“Suspense
Funds” has the meaning set forth in Section 12.2.

 

“Target
Settlement Date” has the meaning set forth in Section 12.1(a).

 

“Title
Benefit” has the meaning set forth in Section 4.7.

 

“Title
Benefit Amount” has the meaning set forth in Section 4.7.

 

“Title
Defect” means any Encumbrance, defect or other matter that causes Seller not to have Defensible Title; provided that the following
shall not be considered Title Defects:

 

(a)
defects arising out of lack of corporate or other entity authorization or defects consisting of the failure to recite marital status
in a document or omissions of successions of heirship or estate proceedings, (in each case) unless Purchaser provides affirmative evidence
that such corporate or other entity action was not authorized and has resulted, or such failure or omission (in either case) has resulted,
in another Person’s superior claim of title to the relevant Asset;

 

(b)
defects based on a gap in Seller’s chain of title in the applicable county records, unless such gap is affirmatively shown to exist
in such records by an abstract of title, title opinion or landman’s title chain or run sheet which documents shall be included
in a Title Defect Notice and has resulted in another Person’s superior claim of title to the relevant Asset;

 

(c)
defects based upon the failure to record any federal, state or tribal Lease or Right-of-Way included in the Assets, or any assignments
of interests in such Leases or Rights-of-Way included in the Assets, in the applicable county records, unless such failure has resulted
in another Person’s superior claim of title to the relevant Asset;

 

(d)
defects arising from any prior oil and gas lease relating to the Lands not being surrendered of record, unless Purchaser provides affirmative
evidence that such prior oil and gas lease is still in effect and has resulted in another Person’s actual and superior claim of
title to the relevant Lease or Well;

 

(e)
defects that affect only which Person has the right to receive payments of royalties or other burdens on production and that do not affect
the validity of the underlying Lease;

 

(f)
defects based solely on: (i) lack of information in Seller’s files, (ii) references to an unrecorded document to which neither
Seller nor any Affiliate of Seller is a party and which document is dated earlier than January 1, 1960; or (iii) any tax assessment,
tax payment or similar records or the absence of such activities or records;

 

    	Appendix A-10

    	 

    

 

(g)
any Encumbrance or loss of title resulting from Seller’s conduct of business in compliance with this Agreement;

 

(h)
defects as a consequence of cessation of production, insufficient production or failure to conduct operations during any period after
the completion of a well capable of production in paying quantities on any of the Leases held by production, or lands pooled or unitized
therewith, except to the extent a claims is pending with respect thereto or the cessation of production is affirmatively shown to have
occurred within the past five years and it will give rise to a right of the lessor or other third party to terminate the underlying Lease,
which documentation shall be provided by Purchaser to Seller in a Title Defect Notice;

 

(i)
Encumbrances created under deeds of trust, mortgages and similar instruments by the lessor under a Lease covering the lessor’s
interests in the land covered thereby that would customarily be accepted in taking or purchasing such Leases and for which a reasonably
prudent lessee would not customarily seek a subordination of such Encumbrance to the oil and gas leasehold estate prior to conducting
drilling activities on the Lease;

 

(j)
all defects or irregularities that have been cured or remedied by applicable statutes of limitation or statutes of prescription;

 

(k)
all defects or irregularities resulting from lack of survey unless such survey is required by applicable Law;

 

(l)
all defects or irregularities resulting from the failure to record releases of liens, production payments or mortgages that have expired
on their own terms or the enforcement of which are barred by applicable statute of limitations;

 

(m)
Encumbrances created under deeds of trust, mortgages and similar instruments by the grantor under a Right-of-Way that would customarily
be accepted by a reasonably prudent oil and gas operator or reasonably prudent pipeline owner in taking or purchasing such Rights-of-Way;

 

(n)
defects arising as a result of actions taken by Purchaser or Purchaser’s failure to consent to any action pursuant to Section
7.1;

 

(o)
defects arising as a result of a change in applicable Law after the Effective Time; and

 

(p)
any Encumbrance or loss of title affecting ownership interests in formations other than the currently producing formation for the affected
Well.

 

In
addition, evidence that Seller is receiving its full share of proceeds from a purchaser or third party operator attributable to its net
revenue interest for any Well listed on Exhibit B shall create a presumption that no Title Defect exists.

 

“Third
Party Claim” has the meaning set forth in Section 11.7(b).

 

“Title
Defect Amount” has the meaning set forth in Section 4.5.

 

    	Appendix A-11

    	 

    

 

“Title
Defect Notice” has the meaning set forth in Section 4.3.

 

“Title
Defect Property” has the meaning set forth in Section 4.3.

 

“Transaction
Documents” means those documents executed and delivered pursuant to or in connection with this Agreement.

 

“Units”
has the meaning set forth in Section 2.2(c).

 

“Wells”
has the meaning set forth in Section 2.2(b).

 

“Well
Imbalance” means any imbalance at the wellhead between the amount of Hydrocarbons produced from a Well and allocable to the
interests of Seller therein and the shares of production from the relevant Well to which Seller is entitled, together with any appurtenant
rights and obligations concerning future in kind and/or cash balancing at the wellhead.

 

“Willful
Breach” means with respect to any Party, such Party knowingly and intentionally breaches in any material respect (by refusing
to perform or taking an action prohibited) any material covenant applicable to such Party.

 

“Working
Interest” means with respect to any Well, the interest in and to such Well that is burdened with the obligation to bear and
pay costs and expenses of maintenance, development and operations on or in connection with such Well, but without regard to the effect
of any royalties, overriding royalties, production payments, net profits interests and other similar burdens upon, measured by or payable
out of production therefrom.

 

    	Appendix A-12

     

    

 

 

EXHIBIT
                                            A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2013-00001494	 	2013-00001494	 	06/12/2012	 	Elizabeth
    McPherson Brown Living Trust, Elizabeth M. Brown	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001493	 	2013-00001493	 	06/12/2012	 	Carol
    Stirman Barton	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001442	 	2013-00001442	 	08/25/2012	 	Archie
    A. Dennis, Jr.	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001441	 	2013-00001441	 	08/25/2012	 	Archie
    A. Dennis, Jr.	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001474	 	2013-00001474	 	09/01/2012	 	Carol
    Bardwell Landers	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001473	 	2013-00001473	 	09/01/2012	 	Lori
    Bardwell Halbert	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001480	 	2013-00001480	 	09/01/2012	 	Robert
    Carey Bardwell	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001482	 	2013-00001482	 	09/19/2012	 	Cheryl
    Chipley Lambright	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001483	 	2013-00001483	 	09/19/2012	 	Larry
    Glynn Chipley	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001486	 	2013-00001486	 	09/27/2012	 	Declaration
    of Trust, dated 11/19/1985, William J. Beecher & Jean Beecher	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001484	 	2013-00001484	 	09/19/2012	 	Sandra
    Chipley Kellogg	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001501	 	2013-00001501	 	10/17/2012	 	James
    E. Mitchell	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001524	 	2013-00001524	 	10/06/2012	 	Barbara
    Van Horn Cox Revocable Trust, dated 10/26/1999, Barbara Van Horn Cox	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001517	 	2013-00001517	 	11/24/2012	 	Kenneth
    Trigg Dealey	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001518	 	2013-00001518	 	11/30/2012	 	Corley
    Family Trust, John C. Corley	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2013-00001520	 	2013-00001520	 	12/04/2012	 	Josephine
    Dealey	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00014346	 	2014-00014346	 	09/27/2014	 	Martha
    Ann Holliday	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00014347	 	2014-00014347	 	09/30/2014	 	Dwain
    Graham Oliver	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00014342	 	2014-00014342	 	10/02/2014	 	Leah
    Jo Loper Brown	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00014345	 	2014-00014345	 	09/30/2014	 	Norma
    Graham and Joe Mack Graham	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00014344	 	2014-00014344	 	09/30/2014	 	Belinda
    J. Loper Johnson	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00014343	 	2014-00014343	 	10/02/2014	 	Barry
    N. Loper	 	Eiche,
    Mapes and Company, Inc.
	 Henderson	 	2014-00014341	 	2014-00014341
	 	10/02/2014
	 	Mary
    Ida Graham Morgan	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00014340	 	2014-00014340	 	09/30/2014	 	Hollis
    M. Browning	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00014339	 	2014-00014339	 	10/05/2014	 	Richard
    Earl Roby	 	Eiche,
    Mapes and Company, Inc.

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2014-00014338	 	2014-00014338	 	09/30/2014	 	Elizabeth
    Browning Devereaux	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2016-00011642	 	2016-00011642	 	10/13/2014	 	John
    M. Morton and Ginger A. Morton, h/w	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00015024	 	2014-00015024	 	09/30/2014	 	Bill
    T. Browning	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00015025	 	2014-00015025	 	10/02/2014	 	Phillip
    Oneal Hanna	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00015026	 	2014-00015026	 	09/30/2014	 	Mary
    Helen Barnett Israell	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00015022	 	2014-00015022	 	10/02/2014	 	Betty
    Graham Fowler	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00015023	 	2014-00015023	 	10/02/2014	 	Tracie
    Hanna	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00015021	 	2014-00015021	 	10/02/2014	 	Jerri
    Graham Luster	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00016038	 	2014-00016038	 	10/02/2014	 	Laquinta
    Graham Palmer	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00016033	 	2014-00016033	 	10/23/2014	 	Melinda
    Wynne West Anderson	 	TDX
    Energy, LLC
	Henderson	 	2014-00016034	 	2014-00016034	 	10/23/2014	 	The
    Mark V West Testamentary Tr c/o Texas Bank & Tr Company	 	TDX
    Energy, LLC
	Henderson	 	2014-00016035	 	2014-00016035	 	10/23/2014	 	Stephanie
    Shawn West	 	TDX
    Energy, LLC
	Henderson	 	2014-00016036	 	2014-00016036	 	10/23/2014	 	Ann
    Waverly West Burford, Deceased	 	TDX
    Energy, LLC
	Henderson	 	2014-00016037	 	2014-00016037	 	10/23/2014	 	Shelly
    West Bowman	 	TDX
    Energy, LLC
	Henderson	 	2014-00016998	 	2014-00016998	 	12/10/2014	 	Lynda
    Kay Brown	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2015-00000234	 	2015-00000234	 	12/01/2014	 	Roy
    H. Laird Memorial Hospital Trust, J.P. Morgan Chase Bank, N.A.	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2014-00016997	 	2014-00016997	 	12/16/2014	 	Methodist
    Childrens Home, Farmers National Company	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2015-00000783	 	2015-00000783	 	10/30/2014	 	The
    Bishop Quin Foundation, Bank of America, N. A.	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2015-00000782	 	2015-00000782	 	10/30/2014	 	The
    Episcopal Theology Seminar of The Southwest in Austin, Texas, Bank of America, N. A.	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2015-00002310	 	2015-00002310	 	12/16/2014	 	Revocable
    Trust Management of Oil, Gas and Mineral Interests for Benefit of Ransome Chance Thomason, Andrew Kenneth Thomason, Isaac Christian
    Thomason, Elizabeth Forbes Thomason and Hillary Maryana Thomason , Colleen Sorenson	 	Eiche,
    Mapes and Company, Inc.
	Henderson	 	2017-00004181	 	2017-00004181	 	05/04/2016	 	Rex
    Cotter	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011572	 	2016-00011572	 	04/29/2016	 	Archie
    D. Graham	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011436	 	2016-00011436	 	04/29/2016	 	Gala
    G. Pryor	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011489	 	2016-00011489	 	04/29/2016	 	Michael
    Barnett	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011488	 	2016-00011488	 	05/26/2016	 	Lisa
    Denise Barnett	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011599	 	2016-00011599	 	03/21/2016	 	Vaclay
    Jim Jezek	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011627	 	2016-00011627	 	03/31/2016	 	Niki
    Diane Godwin Majors	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011580	 	2016-00011580	 	03/21/2016	 	Vallie
    Mae Gualdarama	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011563	 	2016-00011563	 	03/21/2016	 	John
    Bruce Godwin	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011556	 	2016-00011556	 	03/21/2016	 	Bradley
    Wayne Godwin	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00016279	 	2016-00016279	 	04/29/2016	 	Deborah
    Ledoux	 	BROGO
    Minerals, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2016-00011459	 	2016-00011459	 	06/28/2016	 	Christopher
    K. Storm	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00007364	 	2017-00007364	 	06/16/2016	 	Donna
    R. Pahl	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011544	 	2016-00011544	 	06/28/2016	 	The
    Elizabeth Andrews Testamentary Tr by Christopher K. Storm	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011437	 	2016-00011437	 	05/20/2016	 	Barbara
    Barnett Rainey	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011441	 	2016-00011441	 	07/12/2016	 	Dan
    M. Rasco	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011490	 	2016-00011490	 	05/26/2016	 	LeRoy
    Robert Barnett	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00018390	 	2017-00018390	 	06/14/2016	 	The
    Westfall Family Trust by Leslie Stewart Westfall, Trustee	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00007363	 	2017-00007363	 	06/16/2016	 	Dianna
    R. Lee	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00014436	 	2016-00014436	 	08/10/2016	 	Norma
    D. Walker Anderson	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00014435	 	2016-00014435	 	08/10/2016	 	Evelyn
    E. Walker Mason	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00014434	 	2016-00014434	 	08/10/2016	 	Linda
    Virginia Reese Keys	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00014460	 	2016-00014460	 	08/25/2016	 	Gretchen
    Perryman Lahourcade	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00016281	 	2016-00016281	 	09/09/2016	 	Stephanie
    Young Owens	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00014430	 	2016-00014430	 	08/10/2016	 	Robert
    D. Walker	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00016280	 	2016-00016280	 	08/10/2016	 	Vicki
    L. Walker Wiggin	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00014439	 	2016-00014439	 	09/30/2016	 	Lee
    Tillman	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00017822	 	2016-00017822	 	10/06/2016	 	Windle
    Lynn Reese	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00017823	 	2016-00017823	 	09/28/2016	 	Robert
    Aaron Reese and Eva Joan Reese	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00016284	 	2016-00016284	 	09/29/2016	 	James
    W. Westfall 1993 Revocable Trust dated 12-14-1993	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011647	 	2016-00011647	 	05/17/2016	 	Marilyn
    Sue West	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00017829	 	2016-00017829	 	10/25/2016	 	Horseshoe
    Minerals,Inc. by Harry S. Armstrong	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00017828	 	2016-00017828	 	10/19/2016	 	Michael
    Moose Watson and Katrina A. Watson	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00000308	 	2017-00000308	 	08/22/2016	 	Deborah
    Lynn Hambelton	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00000309	 	2017-00000309	 	10/20/2016	 	William
    Franklin Bell	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00000332	 	2017-00000332	 	12/12/2016	 	W.
    C. “Chip” Perryman III	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00003150	 	2017-00003150	 	10/04/2016	 	Samuel
    Alan Young	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00003146	 	2017-00003146	 	01/23/2017	 	Bandera
    Minerals, LLC by M.G. Whitmire Managing Manager	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00001144	 	2017-00001144	 	01/24/2017	 	Unknown
    Heirs of J.D. Brown, Receivership Lease	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00003156	 	2017-00003156	 	02/20/2017	 	Tyler
    Keith Barnett	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00004180	 	2017-00004180	 	03/01/2017	 	Jeane
    L. Browning	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00005853	 	2017-00005853	 	03/28/2017	 	James
    W. Westfall 1993 Revocable Trust, dated 12/14/1993	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00002757	 	2017-00002757	 	02/21/2017	 	Receivership
    Lease - Unknown Heirs of Elinor Ann Kamen Edwards - Case No. CV16-0479-3	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00005850	 	2017-00005850	 	04/06/2017	 	Fern
    B. Clark, President of DIL Corp., as Managing Partner for Hager Oil & Gas, a Texas General Partnership	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00008997	 	2017-00008997	 	03/01/2016	 	Sam
    Tillman	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00007359	 	2017-00007359	 	03/03/2017	 	Vickey
    Lynn Thorpe	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00009683	 	2017-00009683	 	06/14/2017	 	Kristin
    LaRue Perryman	 	BROGO
    Minerals, LLC
	Henderson	 	2017-00018391	 	2017-00018391	 	06/14/2016	 	The
    M.R. Westfall Family Revocable Trust dated November 1, 2010	 	O’Benco
    IV, LP

 

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGSITRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2016-00011566	 	2016-00011566	 	03/23/2016	 	Paul
    Dustin Godwin, Dylan Cole Godwin and Debbie Godwin Life Tenant	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00011530	 	2016-00011530	 	05/04/2016	 	Katherine
    Turner Cotter	 	BROGO
    Minerals, LLC
	Henderson	 	2016-00006224	 	2016-00006224	 	04/14/2016	 	Doris
    Marie Hillhouse et vir Roy Hillhouse	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013984	 	2011-00013984	 	04/06/2016	 	Ira
    Jene Jackson	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013985	 	2011-00013985	 	03/28/2011	 	Betty
    D. Watkins, dealing with her sole and separate property	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013988	 	2011-00013988	 	04/12/2011	 	John
    M. Johnston and wife Marie R. Johnston	 	O’Brien
    Resources, LLC
	Henderson	 	2270-081	 	201106464	 	04/13/2011	 	Susan
    A. Soulsby	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013990	 	2011-00013990	 	05/13/2011	 	Thomas
    Harold Grantham, Trustee of the Children of Sarah Helen Smith Grantham Trust	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013991	 	2011-00013991	 	05/12/2011	 	J.
    Rodney Johnson	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013992	 	2011-00013992	 	05/13/2011	 	Dane
    H. Smith AIF for Heather Royall Smith	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013993	 	2011-00013993	 	05/14/2011	 	Jared
    D. Jones	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013994	 	2011-00013994	 	05/04/2011	 	S.
    Scott MacDonald	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013995	 	2011-00013995	 	05/04/2011	 	Cary
    P. MacDonald	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013996	 	2011-00013996	 	05/27/2011	 	Freda
    Gail Stern Estate of Freda Gail Stern, Harley Soltes Ind Exec	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00001404	 	2017-00001404	 	10/14/2016	 	Weldon
    J. Taylor	 	O’Brien
    Resources, LLC
	 	 	 	 	 	 	 	 	(Petra
    Ziegerman)	 	 
	Henderson	 	2011-00013998	 	2011-00013998	 	07/07/2011	 	Don
    N. MacDonald	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00013999	 	2011-00013999	 	07/05/2011	 	Robert
    A. Haslam	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009773	 	2013-00009773	 	05/31/2013	 	Doris
    Marie Hillhouse	 	O’Brien
    Resources, LLC
	 	 	 	 	 	 	 	 	et
    vir Roy Hillhouse	 	 
	Henderson	 	2012-00012207	 	2012-00012207	 	07/06/2012	 	Mike
    Angel	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012208	 	2012-00012208	 	07/06/2012	 	Christopher
    Angel	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012206	 	2012-00012206	 	07/17/2012	 	Harold
    Gregg Larimer, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012226	 	2012-00012226	 	07/26/2012	 	Cynthia
    D. Kiser	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012219	 	2012-00012219	 	08/01/2012	 	William
    P. Jones	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012217	 	2012-00012217	 	08/17/2012	 	Larry
    Price	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012211	 	2012-00012211	 	08/17/2012	 	James
    Harvill, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012218	 	2012-00012218	 	08/03/2012	 	L.
    B. Eaton	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012212	 	2012-00012212	 	08/17/2012	 	Jean
    L. Harvill	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00012607	 	2011-00012607	 	05/27/2011	 	Aletta
    LeeVee Lambright et al	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010839	 	2011-00010839	 	05/19/2011	 	Aletta
    LeeVee Lambright et al	 	Energia
    Tejas, LLC
	Henderson	 	2012-00007061	 	2012-00007061	 	11/09/2011	 	Anthony
    Dale Dehart	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010888	 	2011-00010888	 	05/26/2011	 	Anton
    E. Fraps, III	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010827	 	2011-00010827	 	03/30/2011	 	Archie
    A. Dennis Jr. et ux June M. Dennis	 	Energia
    Tejas, LLC
	Henderson	 	2012-00010611	 	2012-00010611	 	08/16/2011	 	Archie
    M. Dennis	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012602	 	2011-00012602	 	07/26/2011	 	Betty
    Darsey Woods	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006509	 	2011-00006509	 	03/30/2011	 	Betty
    Darsey Woods	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006530	 	2011-00006530	 	04/03/2011	 	Betty
    Sue Dwelle Waters	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010867	 	2011-00010867	 	06/07/2011	 	Billy
    Joe Cummings	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006508	 	2011-00006508	 	03/17/2011	 	Meazell
    Partnership	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012631	 	2011-00012631	 	06/21/2011	 	*Billy
    Lynn Till	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006511	 	2011-00006511	 	03/30/2011	 	Bradley
    Lambright	 	Energia
    Tejas, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2011-00012622	 	2011-00012622	 	05/18/2011	 	Cary
    S. “Pete” Cowart	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006572	 	2011-00006572	 	03/30/2011	 	Charles
    P. Lewis	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012611	 	2011-00012611	 	07/26/2011	 	Charles
    P. Lewis	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010909	 	2011-00010909	 	06/09/2011	 	Claudia
    J. Stromberg (and Russell S. Stromberg, a married couple)	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010877	 	2011-00010877	 	06/01/2011	 	Clifford
    O. Baggett	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006540	 	2011-00006540	 	03/30/2011	 	Dana
    Mitchell	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012610	 	2011-00012610	 	08/01/2011	 	Dana
    Mitchell	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010847	 	2011-00010847	 	06/01/2011	 	David
    Baggett	 	Energia
    Tejas, LLC
	Henderson	 	2016-00012765	 	2016-00012765	 	05/19/2016	 	David
    Tritter, Trustee	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00010873	 	2011-00010873	 	05/27/2011	 	Deborah
    J. Schrader	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010886	 	2011-00010886	 	07/01/2011	 	Debra
    K. Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006566	 	2011-00006566	 	03/31/2011	 	Keith
    Lee Pate	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012608	 	2011-00012608	 	05/06/2011	 	East
    Texas National Bank, Trustee of the Theretta Bartlett Pickel Testamentary Trust	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010832	 	2011-00010832	 	05/04/2011	 	Elizabeth
    Staggs Huckabay, Tr. of the Mary Kathryn Grisso Revocable Trust	 	Energia
    Tejas, LLC
	Henderson	 	2012-00009535	 	2012-00009535	 	02/23/2011	 	Eugene
    E. Soutter (now deceased) et ux Elizabeth A. Soutter	 	Energia
    Tejas, LLC
	Henderson	 	2012-00007058	 	2012-00007058	 	08/30/2011	 	*FDIC
    Receiver of Franklin Bank	 	Energia
    Tejas, LLC
	Henderson	 	2012-00007057	 	2012-0007057	 	08/30/2011	 	FDIC	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006551	 	2011-00006551	 	02/25/2011	 	FDIC	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010880	 	2011-00010880	 	06/07/2011	 	Gary
    Don Wilbanks et ux Glenda	 	Energia
    Tejas LLC
	Henderson	 	2011-00010852	 	2011-00010852	 	05/27/2011	 	Gerald
    C. Knepple and wife, Carolyn Knepple	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010854	 	2011-00010854	 	05/03/2011	 	Gerald
    C. Knepple and wife, Carolyn Knepple	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010853	 	2011-00010853	 	05/03/2011	 	Gerald
    C. Knepple and wife, Carolyn Knepple	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006553	 	2011-00006553	 	02/23/2011	 	Gladys
    Isbell,Trustee for the Isbell Family Revocable Trust	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010868	 	2011-00010868	 	06/07/2011	 	Gladys
    Isbell,Trustee for the Isbell Family Revocable Trust	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006561	 	2011-00006561	 	04/06/2011	 	Glenn
    Holley	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010841	 	2011-00010841	 	05/27/2011	 	Glenn
    Holley	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010865	 	2011-00010865	 	05/05/2011	 	Glenn
    Holley	 	Energia
    Tejas, LLC
	Henderson	 	2011-00014104	 	2011-00014104	 	08/27/2011	 	Gwen
    Murrell	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010859	 	2011-00010859	 	03/23/2011	 	Harvil
    Lester Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2014-00015294	 	2014-00015294	 	08/26/2014	 	Heidy
    Herschbach, Trustee of the Herschbach Living Trust dated June 20, 2002 ; RIverwood Energy, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000196	 	2015-00000196	 	11/26/2014	 	Herschbach
    Petroleum Co., Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2011-00012593	 	2011-00012593	 	06/30/2011	 	Holley
    Lake Club, c/o Kathy Blackmon	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012604	 	2011-00012604	 	08/26/2011	 	Inverness
    Energy, Inc.	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010904	 	2011-00010904	 	07/26/2011	 	Ira
    Jene Jackson	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006548	 	2011-00006548	 	03/23/2011	 	Shirley
    Joyce Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012612	 	2011-00012612	 	07/26/2011	 	*J.D.
    Black	 	Energia
    Tejas, LLC
	Henderson	 	2015-00000202	 	2015-00000202	 	09/23/2014	 	Jacque
    D. Hyde individually and as executrix for the Estate of Jack L. Coleman	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2011-00012600	 	2011-00012600	 	08/23/2011	 	Jack
    P. Rahm, Trustee of the Jack P. Rahm Revocable Trust	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012601	 	2011-00012601	 	08/23/2011	 	Jack
    P. Rahm, Trustee of the Jack P. Rahm Revocable Trust	 	Energia
    Tejas, LLC
	Henderson	 	2011-00014110	 	2011-00014110	 	06/10/2011	 	Janet
    Lynn Shafer Boyanton	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010900	 	2011-00010900	 	05/13/2011	 	Jean
    J. Palmer	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010856	 	2011-00010856	 	05/11/2011	 	Jeffrey
    W. Eaton	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006536	 	2011-00006536	 	02/23/2011	 	Jerry
    Nell Mitchell Wilbanks	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010858	 	2011-00010858	 	04/28/2011	 	Jerry
    Nell Mitchell Wilbanks	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006565	 	2011-00006565	 	03/07/2011	 	Jerry
    Wayne Rogers et ux Wanda Beth Rogers	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010885	 	2011-00010885	 	06/17/2011	 	John
    H. Brown et ux Judy aka Final Talley, Ltd.	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010851	 	2011-00010851	 	05/25/2011	 	*John
    K. Patton et ux Rose	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010894	 	2011-00010894	 	05/24/2011	 	John
    L. Schoellkopf	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006564	 	2011-00006564	 	08/27/2015	 	Joy
    Lock	 	Energia
    Tejas, LLC
	Henderson	 	2012-00007060	 	2012-00007060	 	11/09/2011	 	Joyce
    Ruetta Featherston	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006543	 	2011-00006543	 	03/19/2011	 	Judy
    Nell Pritchard, Trustee for Kristie Leigh Wakefield	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006531	 	2011-00006531	 	04/20/2011	 	Julia
    H. Mitchell	 	Energia
    Tejas, LLC
	Henderson	 	2011-00014106	 	2011-00014106	 	06/10/2011	 	Julie
    Shafer Ciuro	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010869	 	2011-00010869	 	06/07/2011	 	Kathy
    Diane Halbert et vir Ira Wayne Halbert	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006513	 	2011-00006513	 	03/30/2011	 	Keetah
    Holley, widow Roger Dale Holley	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006514	 	2011-00006514	 	04/12/2011	 	Leigh
    L. Williams	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012628	 	2011-00012628	 	03/30/2011	 	Lenell
    Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006534	 	2011-00006534	 	04/14/2011	 	Leona
    Earl May	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010881	 	2011-00010881	 	06/24/2011	 	Lillian
    L. Meriwether	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006505	 	2011-00006505	 	03/17/2011	 	Lonnie
    Clint Vick, Sr. et ux Regina Anne Vick	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010828	 	2011-00010828	 	04/03/2011	 	Jeanne
    D. Waters, by Lindsley Waters III, A-I-F	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006562	 	2011-00006562	 	04/12/2011	 	Maggie
    Nell Youngblood	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010890	 	2011-00010890	 	05/27/2011	 	*Margaret
    Avriette, Trustee of the Gene and Margaret Avriette Family Trust	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006515	 	2011-00006515	 	04/14/2011	 	Margaret
    Ellen Robison (dec’d)	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010870	 	2011-00010870	 	04/28/2011	 	Marvin
    Holcomb , Glenn Holcomb & Ronnie Holcomb	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010906	 	2011-00010906	 	06/09/2011	 	Mary
    Ann Cohen	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010903	 	2011-00010903	 	05/27/2011	 	Mary
    Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010838	 	2011-00010838	 	05/12/2011	 	Mary
    Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010834	 	2011-00010834	 	03/08/2011	 	*Mary
    Joanne Wilson (partially sold)	 	Energia
    Tejas, LLC
	Henderson	 	2012-00007059	 	2012-00007059	 	11/09/2011	 	Melvin
    Lynn Dehart	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012613	 	2011-00012613	 	03/23/2011	 	Michael
    Lambright et al	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012595	 	2011-00012595	 	05/12/2011	 	Mila
    Lambright Baker	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012592	 	2011-00012592	 	07/14/2011	 	Nancy
    Burnett	 	Energia
    Tejas, LLC
	Henderson	 	2014-00006543	 	2014-00006543	 	05/04/2011	 	Annette
    Goolsby et al	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006570	 	2011-00006570	 	03/30/2011	 	Norine
    Kelly (now Brenda Nikel, et al)	 	Energia
    Tejas, LLC
	Henderson	 	2011-00014112	 	2011-00014112	 	08/04/2011	 	Norine
    Kelly	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010848	 	2011-00010848	 	05/27/2011	 	Obdiah
    Lloyd Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010833	 	2011-00010833	 	05/03/2011	 	Obdiah
    Lloyd Lambright	 	Energia
    Tejas, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2011-00012626	 	2011-00012626	 	06/24/2011	 	Ozie
    Dean Till	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006571	 	2011-00006571	 	04/14/2011	 	Patricia
    Ann Bragg	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010902	 	2011-00010902	 	06/09/2011	 	Patricia
    Hillman Murrell	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006546	 	2011-00006546	 	03/17/2011	 	Patricia
    L. Palmer	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010835	 	2011-00010835	 	05/26/2011	 	Patrick
    H. Wageman	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010893	 	2011-00010893	 	03/23/2011	 	Patsy
    Jo Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010836	 	2011-00010836	 	05/19/2011	 	Patsy
    Lindsey Hardy et vir Nicky	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010844	 	2011-00010844	 	05/04/2011	 	Peggy
    H. Kirkland, A-I-F for Norma Dell	 	Energia
    Tejas, LLC
	Henderson
	 	 2011-00010843
	 	 2012-00010843
	 	 05/27/2011
	 	Lambright
                                            Hillhouse Peggy H. Kirkland, A-I-F for Norma Dell Lambright
                                            Hillhouse
	 	 Energia
                                            Tejas, LLC

	

    Henderson
	 	

    2011-00006552
	 	

    2011-00006552
	 	

    02/25/2011
	 	

    Randy
    Allen Wilbanks
	 	

    Energia
    Tejas, LLC

	Henderson	 	2011-00014105	 	2011-00014105	 	08/25/2011	 	Rentier,
                                            Inc. (renewed #1242)

     
	 	Energia
    Tejas, LLC
	Henderson
	 	 2011-00006517
	 	 2011-00010861
	 	 03/31/2011
	 	Richard
    D. Couron	 	 Energia
                                            Tejas, LLC

	Henderson	 	2011-00006569	 	2011-00006569	 	04/03/2011	 	Richard
                                            E. Dwelle et ux Peggy D. Dwelle
	 	Energia
    Tejas, LLC
	Henderson
	 	 2011-00010855
	 	 2011-00010855
	 	 05/11/2011
	 	Richard
    H. Eaton	 	Energia
                                            Tejas, LLC

	Henderson	 	2012-00009534	 	2012-00009534	 	08/05/2011	 	Rick
                                            G. Baldree et ux Denise Baldree

    
	 	Energia
    Tejas, LLC
	Henderson
	 	 2011-00014103
	 	 2011-00014103
	 	 09/23/2011
	 	The
    Robert Welch Foundation	 	

    Energia
    Tejas, LLC

	Henderson	 	2011-00010891	 	2011-00010891	 	05/23/2011	 	Robert
    Dehart	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010862	 	2011-00010862	 	05/11/2011	 	Robert
    W. Percival	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006541	 	2011-00006541	 	03/30/2011	 	Robert
    Avon Holley	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006556	 	2011-00006556	 	03/21/2011	 	Ronald
    Charles Holcomb et ux Anne Holcomb	 	Energia
    Tejas, LLC
	Henderson
	 	 2011-00010830
	 	 2011-00010830
	 	 05/13/2011
	 	Ronald
    C. Pate et ux Kimberly	 	 Energia
                                            Tejas, LLC

	Henderson	 	2017-00010907	 	2017-00010907	 	03/07/2011	 	Ronald
    L. Williams	 	Energia
    Tejas, LLC
	Henderson	 	2017-00010907	 	2017-00010907	 	08/08/2011	 	Ronald
    L. Williams	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010905	 	2011-00010905	 	05/12/2011	 	Roy
    Lee Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006532	 	2011-00006532	 	04/25/2011	 	Royce
    W. Benson et ux Anita D.	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006522	 	2011-00006522	 	03/23/2011	 	Ruthie
    F. Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006510	 	2011-00006510	 	04/12/2011	 	Sharon
    Lorraine Anderson	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010846	 	2011-00010846	 	05/27/2011	 	Shirley
    B. Hilton	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006506	 	2011-00006506	 	05/05/2011	 	Shirley
    B. Hilton	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012623	 	2011-00012623	 	03/30/2011	 	Sonja
    Lewis Simon	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012606	 	2011-00012606	 	07/26/2011	 	Sonja
    Lewis Simon	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012615	 	2011-00012615	 	08/15/2011	 	Sonya
    Havard Moon	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006502	 	2011-00006502	 	03/07/2011	 	Stephen
    Kelley Presswood	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010882	 	2011-00010882	 	06/24/2011	 	Susan
    P. Meriwether	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010837	 	2011-00010837	 	06/01/2011	 	Thomas
    C. Browning	 	Energia
    Tejas, LLC
	Henderson	 	2011-00006547	 	2011-00006547	 	02/23/2011	 	Thomas
    L. Soutter	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012624	 	2011-00012624	 	05/31/2011	 	Thomas
    L. Soutter	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012617	 	2011-00012617	 	08/15/2011	 	Todd
    Havard	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010899	 	2011-00010899	 	05/12/2011	 	Tracey
    Louise Lambright	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010889	 	2011-00010889	 	05/13/2011	 	Vera
    Odle	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010892	 	2011-00010892	 	05/13/2011	 	Vera
    Odle, A-I-F for Helen Burns	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012596	 	2011-00012596	 	03/07/2011	 	Virginia
    Gail Willis	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012603	 	2011-00012603	 	08/25/2011	 	VWP
    JR, Inc. (Victor W. Pryor, Jr.)	 	Energia
    Tejas, LLC
	 

    Henderson
	 	 

    2011-00012599
	 	 

    2011-00012599
	 	 

    08/25/2011
	 	

    VWP
    JR, Inc. (Victor W. Pryor, Jr.)
	 	 

    Energia
    Tejas, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2011-00010872	 	2011-00010872	 	07/26/2011	 	*W.
    G. Darsey, III	 	Energia
    Tejas, LLC
	Henderson	 	2012-00009533	 	2012-00009533	 	09/23/2011	 	Walter
    C. Windsor (renewed #1230)	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010849	 	2011-00010849	 	05/19/2011	 	Wanda
    Lindsey Erekson et vir Robbiie	 	Energia
    Tejas, LLC
	Henderson	 	2011-00010866	 	2011-00010866	 	04/28/2011	 	Wayne
    Mitchell	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012594	 	2011-00012594	 	08/04/2011	 	Weldon
    J. Taylor (Petra Zeigerman)	 	Energia
    Tejas, LLC
	Henderson

     

     
	 	2016-00003043

     
	 	2016-00003043

     

     
	 	02/23/2016

     

     
	 	*William
    Ray Watson, Sr., and Brigette Watson, husband and wife (O’Benco IV et al)	 	O’Brien
                                            Resources, LLC

     

	Henderson	 	2011-00010845	 	2011-00010845	 	06/24/2011	 	William
    Thomas Meriwether	 	Energia
    Tejas, LLC
	Henderson	 	2011-00014111	 	2011-00014111	 	08/23/2011	 	Windsor
    Interests, Ltd.	 	Energia
    Tejas, LLC
	Henderson	 	2011-00012605	 	2011-00012605	 	08/26/2011	 	Yukon
    Energy, LLC	 	Energia
    Tejas, LLC
	Henderson	 	2015-00014861	 	2015-00014861	 	10/29/2015	 	Teresa
    Heilig	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012213	 	2012-00012213	 	08/17/2012	 	Bettye
    L. Newberry	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012231	 	2012-00012231	 	08/17/2012	 	Gregory
    Paul Cox	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012214	 	2012-00012214	 	08/17/2012	 	James
    G. Cox	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006352	 	2013-00006352	 	08/23/2012	 	Barbara
    L. Sides	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00015812	 	2012-00015812	 	08/27/2012	 	Rhonda
    Mahoney	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009786	 	2013-00009786	 	05/24/2013	 	Glen
    McWhorter	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009785	 	2013-00009785	 	05/24/2013	 	*James
    McWhorter	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009787	 	2013-00009787	 	05/24/2013	 	David
    McWhorter	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00014511	 	2012-00014511	 	08/09/2012	 	George
    G. Wood	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00012227	 	2012-00012227	 	07/19/2012	 	Daphne
    Elizabeth Carpenter	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00001912	 	2016-00001912	 	12/03/2015	 	Gary
    Don Wilbanks et ux	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00016072	 	2012-00016072	 	10/26/2012	 	Damon
    Douglas	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00016076	 	2012-00016076	 	11/26/2012	 	Eugene
    E. Soutter et ux (now	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00000482	 	2013-00000482	 	11/12/2012	 	Patricia
    Ward Bryant	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00005131	 	2016-00005131	 	02/01/2016	 	Eddie
    Don Price	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00015823	 	2012-15823	 	10/18/2012	 	Holly
    Avriette Fox	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003606	 	3016-00003606	 	02/01/2016	 	Stephen
    Wayne Woodall	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003605	 	2016-00003605	 	02/01/2016	 	Della
    Mae Woodall Turner	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00001772	 	2013-00001772	 	08/13/2012	 	Julius
    W. Wylie	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00000468	 	2013-00000468	 	11/12/2012	 	Alfred
    M. Yeatts, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00005126	 	2016-00005126	 	02/01/2016	 	Kenneth
    Goodrum	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00000589	 	2016-00000589	 	11/17/2015	 	Clarine
    Kellam	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00016073	 	2012-00016073	 	09/19/2012	 	Gilbert
    S. Hernandez	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00000469	 	2013-00000469	 	12/12/2012	 	*J.
    Bradley Jeffreys	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006209	 	2016-00006209	 	04/04/2016	 	Lynda
    Lou Goodrum	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00000481	 	2013-00000481	 	11/16/2012	 	William
    “Bain” Ward, III	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015673	 	2015-00015673	 	11/17/2015	 	Steve
    Harrington	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015668	 	2015-00015668	 	11/17/2015	 	John
    Harrington	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015672	 	2015-00015672	 	10/12/2015	 	Charlotte
    Heppel	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015674	 	2015-00015674	 	11/17/2015	 	Tom
    Harrington III	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00005125	 	2016-00005125	 	02/01/2016	 	Roger
    Warren Price	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00000483	 	2013-00000483	 	12/14/2012	 	Sydonia
    L. Sonnenburg (deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00000484	 	2013-00000484	 	11/13/2012	 	Robin
    S. Ritchie	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00000479	 	2013-00000479	 	12/10/2012	 	Chieftain
    Exploration Co	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006216	 	2016-00006216	 	02/01/2016	 	Rhonda
    S. Davidson	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00001915	 	2016-00001915	 	12/16/2015	 	Gwendolyn
    Kay Michael	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00001773	 	2013-00001773	 	09/28/2012	 	Tracey
    Lambright et al	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00001766	 	2013-00001766	 	12/18/2012	 	Neill
    Oil, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00001771	 	2013-00001771	 	01/14/2013	 	*Sunmore
    Energy Partners, LLC	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2013-00006358	 	2013-00006358	 	01/17/2013	 	Est
    of T. L. Huddleston by H. T. Hyde, Jr., Trustee	 	O’Brien
    Resources, LLC
	 Henderson
	 	 2013-00006348
	 	 2013-00006348
	 	 05/09/2013
	 	Hugh
    Craft	 	 O’Brien
                                            Resources, LLC

	Henderson	 	2013-00006362	 	2013-00006362	 	01/24/2013	 	Libby
    Craft	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00012779	 	2016-00012779	 	06/14/2016	 	Mary
    L. Fitch	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009794	 	2013-00009794	 	02/20/2013	 	Bandera
    Minerals, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006347	 	2013-00006347	 	01/09/2013	 	Diane
    Gilbert Clark	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006365	 	2013-00006365	 	02/04/2013	 	Schare,
    Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006363	 	2013-00006363	 	02/04/2013	 	Panacea
    Energy, Inc.	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006364	 	2013-00006364	 	02/04/2013	 	K.
    Phil Fleetwood	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006360	 	2013-00006360	 	01/23/2013	 	Nathan
    Leslie James	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006361	 	2013-00006361	 	01/23/2013	 	Gleith
    James Mann	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006354	 	2013-00006354	 	02/21/2013	 	Alva
    June Daily	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006367	 	2013-00006367	 	01/23/2013	 	Eva
    Evans (minerals now to heirs)	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006355	 	2013-00006355	 	02/26/2013	 	James
    Scott, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006366	 	2013-00006366	 	02/26/2013	 	James
    Scott, Sr.	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006353	 	2013-00006353	 	02/20/2013	 	Royce
    M. Benson	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00006350	 	2013-00006350	 	01/22/2013	 	Katrina
    Lynn Pound	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00010613	 	2012-00010613	 	08/16/2011	 	Gary
    Wayne Dennis, Trustee	 	Energia
    Tejas, LLC
	Henderson	 	2013-00006356	 	2013-00006356	 	01/22/2013	 	Benjamin
    Aaron Cohen	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009795	 	2013-00009795	 	04/18/2013	 	Troy
    C. House	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00008872	 	2016-00008872	 	02/28/2013	 	Mary
    Jo Mullins	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009797	 	2013-00009797	 	04/17/2013	 	Mack
    Powell	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009798	 	2013-00009798	 	04/18/2013	 	Geraldine
    Rounsavall	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00017297	 	2013-00017297	 	02/26/2013	 	Owen
    Oil & Gas Properties, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009804	 	2013-00009804	 	02/18/2013	 	George
    S. Tallichet	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009805	 	2013-00009805	 	02/18/2013	 	Henri
    Lucien Tallichet	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009803	 	2013-00009803	 	02/18/2013	 	George
    S. Heyer, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009802	 	2013-00009802	 	11/19/2012	 	Kenneth
    Haesly	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009806	 	2013-00009806	 	03/25/2013	 	Michael
    A. Maynard	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009800	 	2013-00009800	 	05/02/2013	 	Lucille
    Collins	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009799	 	2013-00009799	 	05/02/2013	 	Glenda
    Langley	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009801	 	2013-00009801	 	04/30/2013	 	Southwest
    Mineral Group, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009788	 	2013-00009788	 	04/09/2013	 	Margaret
    P. Tyson	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009790	 	2013-00009790	 	04/30/2013	 	Glenda
    K. Hayes	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00012776	 	2016-00012776	 	05/23/2016	 	Faye
    P. Harris	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009789	 	2013-00009789	 	05/09/2013	 	Rosemary
    Williams	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009777	 	2013-00009777	 	04/16/2013	 	The
    Estate of Buck J. Wynne, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009780	 	2013-00009780	 	04/16/2013	 	Adele
    Monning	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009778	 	2013-00009778	 	04/16/2013	 	Oscar
    Bruce Chamberlain	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009781	 	2013-00009781	 	04/16/2013	 	Karen
    Hunnicutt	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009779	 	2013-00009779	 	04/16/2013	 	Holly
    Chamberlain aka Holly Casey	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009782	 	2013-00009782	 	04/17/2013	 	Kirby
    Minerals	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00010907	 	2017-00010907	 	07/28/2013	 	Ronald
    L. Williams	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00009776	 	2013-00009776	 	01/14/2013	 	Lolita
    Anne Rothfuss, f/k/a Lolita A. Langham	 	O’Brien
    Resources, LLC
	 Henderson
	 	 2013-00009775
	 	 2013-00009775
	 	 06/18/2013
	 	

    Bailey
    Smiley
	 	 O’Brien
                                            Resources, LLC

	Henderson	 	2013-00014065	 	2013-00014065	 	08/02/2013	 	Brian
    Utz et ux Janet	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00014064	 	2013-00014064	 	07/24/2013	 	Richard
    C. Palmer et ux	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00014063	 	2013-00014063	 	07/24/2013	 	Pamala
    Solis et vir	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2013-00014061	 	2013-00014061	 	07/12/2013	 	Loughridge
    C. Murrell, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00017299	 	2013-00017299	 	08/14/2013	 	James
    M. Chatfield	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00017300	 	2013-00017300	 	07/12/2013	 	Helen
    Weeks-Chatfield	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00016532	 	2013-00016532	 	09/23/2013	 	Robert
    W. Palmer	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00016535	 	2013-00016535	 	10/10/2013	 	Kirby
    Minerals	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001070	 	2014-00001070	 	10/11/2013	 	Bandera
    Minerals, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00016541	 	2013-00016541	 	04/24/2013	 	I.P.
    LaRue Mineral Properties, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00017298	 	2013-00017298	 	10/02/2013	 	Owen
    Oil & Gas Properties, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00016534	 	2013-00016534	 	09/23/2013	 	Frederick
    Palmer	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00016533	 	2013-00016533	 	09/23/2013	 	John
    Palmer	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00016540	 	2013-00016540	 	08/07/2013	 	Linda
    L. Kropp	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00016539	 	2013-00016539	 	08/07/2013	 	Jeana
    Walker	 	O’Brien
    Resources, LLC
	Henderson	 	2013-00016538	 	2013-00016538	 	09/27/2013	 	Susan
    Prescott AIF for Carrold C. Dollar (Deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001082	 	2014-00001082	 	11/05/2013	 	Sheila
    Hunt	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001072	 	2014-00001072	 	11/18/2013	 	Jay
    N. Besett	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001083	 	2014-00001083	 	11/18/2013	 	Katherine
    L. Edwards	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001077	 	2014-00001077	 	11/05/2013	 	Margaret
    Jean Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001076	 	2014-00001076	 	04/30/2013	 	Barbara
    Rhine	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001085	 	2014-00001085	 	11/05/2013	 	Michael
    Dale Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001080	 	2014-00001080	 	11/05/2013	 	Audrey
    Neel	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001086	 	2014-00001086	 	11/06/2013	 	David
    Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001069	 	2014-00001069	 	11/05/2013	 	William
    Nell Besett	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001079	 	2014-00001079	 	11/22/2013	 	Bertha
    Sue Littlefield	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001084	 	2014-00001084	 	11/05/2013	 	Betty
    Adcock	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001078	 	2014-00001078	 	11/05/2013	 	Hazel
    Elder	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001081	 	2014-00001081	 	11/05/2013	 	Shirley
    N. McKinney	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006548	 	2014-00006548	 	11/05/2013	 	Cindy
    Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001074	 	2014-00001074	 	11/18/2013	 	Kenneth
    D. Clark	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001075	 	2014-00001075	 	11/05/2013	 	Sherrie
    Battaglia	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001068	 	2014-00001068	 	11/18/2013	 	Eveline
    Lambright Baker	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001067	 	2014-00001067	 	11/22/2013	 	Harold
    Ray Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00003078	 	2014-00003078	 	02/07/2014	 	Carroll
    Springs Cemetery Assoc.	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001073	 	2014-00001073	 	12/13/2013	 	Connie
    Ruth Brooks	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00003081	 	2014-00003081	 	02/11/2014	 	Ann
    C. Maroe	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00003082	 	2014-00003082	 	02/19/2014	 	Patsy
    C. Sorenson	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00003083	 	2014-00003083	 	02/21/2014	 	Michelle
    Avriette Ogden	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00003077	 	2014-00003077	 	02/13/2014	 	Lynette
    L. Murrell Gammon	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00003079	 	2014-00003079	 	02/12/2014	 	*Nathan
    Murrell	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006559	 	2014-00006559	 	03/11/2014	 	Ernest
    Edwin Moyers	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00004666	 	2014-00004666	 	04/14/2014	 	Martin
    R. Bennett, Receiver - Cause 2014C-00880 Unknown Heirs of Brenda Lambright; Prentice Berwick; LaVerne Davis; Prentice Noah Berwick;
    Liilie Dell Lambright Bradshaw; Florence Raney; Elizabeth Ann Clark; Minnie Lou Vandiver; Jacqueline W. Melton	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006558	 	2014-00006558	 	02/18/2014	 	Kelly
    Milan Trahan	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006556	 	2014-00006556	 	02/28/2014	 	Father
    Flanagan’s Boys’ Home	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006553	 	2014-00006553	 	04/17/2014	 	Kerry
    Vance	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006551	 	2014-00006551	 	04/17/2014	 	Chester
    Vance Chapel	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006545	 	2014-00006545	 	04/26/2014	 	Charles
    Ashburn Davis	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2014-00006554	 	2014-00006554	 	04/23/2014	 	Veronica
    Lois Orr	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007929	 	2014-00007929	 	05/20/2014	 	Travis
    Vernon Batson, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00013015	 	2014-00013015	 	05/20/2014	 	Jack
    P. Rahm, Trustee of the Jack P. Rahm Revocable Trust	 	O’Brien
    Resources, LLC
	 Henderson
	 	 2014-00011626
	 	 2014-00011626
	 	 05/21/2014
	 	David
    R. Soulsby	 	 O’Brien
                                            Resources, LLC

	Henderson	 	2014-00007928	 	2014-00007928	 	05/29/2014	 	Glenn
    Holley	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006549	 	2014-00006549	 	03/12/2014	 	Ed
    H. Clark	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007931	 	2014-00007931	 	05/27/2014	 	Carolyn
    Holley Knepple	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009458	 	2014-00009458	 	06/13/2014	 	Ronald
    L. Holley	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009457	 	2014-00009457	 	06/13/2014	 	Michael
    W. Holley (Deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007932	 	2014-00007932	 	04/23/2014	 	Lisa
    Wiklund	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007927	 	2014-00007927	 	05/28/2014	 	Leslie
    R. Landry, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007930	 	2014-00007930	 	04/23/2014	 	John
    C. Vance	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007923	 	2014-00007923	 	04/22/2014	 	Cary
    S. “Pete” Cowart	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007921	 	2014-00007921	 	04/22/2014	 	Vicki
    Jo Chappell Morris	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007937	 	2014-00007937	 	04/26/2014	 	Billy
    Joe Davis	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007936	 	2014-00007936	 	04/17/2014	 	Billy
    Joe Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007934	 	2014-00007934	 	04/26/2014	 	Gerthe
    Ann Tapin	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007935	 	2014-00007935	 	04/26/2014	 	Hazel
    Louise Koslowski	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006550	 	2014-00006550	 	04/23/2014	 	Jeremy
    L. Vance	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006552	 	2014-00006552	 	04/17/2014	 	Cordell
    Vance	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006555	 	2014-00006555	 	04/22/2014	 	Debra
    V. Reece	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006546	 	2014-00006546	 	04/26/2014	 	Betty
    Jo Guffey	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00006547	 	2014-00006547	 	04/26/2014	 	Annie
    Marie Grimes	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009459	 	2014-00009459	 	06/17/2014	 	Helen
    Splawn (Deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009456	 	2014-00009456	 	06/17/2014	 	Violet
    Landis Holley (deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009446	 	2014-00009446	 	05/27/2014	 	Mary
    Ann Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009442	 	2014-00009442	 	04/26/2014	 	Jerry
    Wayne Davis	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009443	 	2014-00009443	 	05/20/2014	 	Joan
    Marie Batson Bandsuch	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009444	 	2014-00009444	 	06/20/2014	 	James
    T. Palmer	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009441	 	2014-00009441	 	04/26/2014	 	Bobby
    Lee Davis	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011625	 	2014-00011625	 	05/20/2014	 	Rentier,
    Inc.	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009448	 	2014-00009448	 	04/25/2014	 	Josh
    Vance	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009451	 	2014-00009451	 	06/10/2014	 	Joan
    Elizabeth Sitzlow	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009452	 	2014-00009452	 	06/10/2014	 	Tommy
    Gene Motl	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009450	 	2014-00009450	 	06/10/2014	 	Johanna
    Motl Thomason	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009449	 	2014-00009449	 	05/29/2014	 	Shirley
    B. Hilton	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009447	 	2014-00009447	 	04/23/2014	 	Jordan
    L. Vance	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009438	 	2014-00009438	 	05/21/2014	 	Susan
    A. Soulsby	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00009440	 	2014-00009440	 	06/10/2014	 	Margaret
    Ann Hannie	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00007925	 	2014-00007925	 	05/20/2014	 	VWP
    JR, Inc. (Victor W. Pryor, Jr.)	 	O’Brien
    Resources, LLC
	 Henderson
	 	 2014-00011618
	 	 2014-00011618
	 	 07/09/2014
	 	Forrest
    Carl Till	 	 O’Brien
                                            Resources, LLC

	Henderson	 	2014-00011624	 	2014-00011624	 	05/27/2014	 	Sherill
    Lee Bruce	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011631	 	2014-00011631	 	06/23/2014	 	Howard
    Donald Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011632	 	2014-00011632	 	07/10/2014	 	Violet
    Landis Holley (deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011633	 	2014-00011633	 	07/10/2014	 	Mila
    Lambright Baker	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011639	 	2014-00011639	 	07/10/2014	 	Ronald
    L. Holley	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011634	 	2014-00011634	 	07/10/2014	 	Michael
    W. Holley (Deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011635	 	2014-00011635	 	07/10/2014	 	Keetah
    Holley	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011637	 	2014-00011637	 	07/10/2014	 	Bradley
    Scott Lambright	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2014-00011636	 	2014-00011636	 	07/10/2014	 	Dana
    Mitchell	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011638	 	2014-00011638	 	07/18/2014	 	Linda
    Sue Douglas	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011621	 	2014-00011621	 	04/18/2014	 	Katrina
    Lynn Pound	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011620	 	2014-00011620	 	07/28/2014	 	Chelsea
    Willis Caver	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00011640	 	2014-00011640	 	07/14/2014	 	Katherine
    Stanley	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014706	 	2014-00014706	 	08/19/2014	 	Wynne
    West Anderson	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014705	 	2014-00014705	 	08/19/2014	 	Shawn
    West Webb	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014707	 	2014-00014707	 	08/19/2014	 	The
    Catherine Coleman Murchison Exmpt Tr by George Bedell, Trustee	 	O’Brien
    Resources, LLC
	 Henderson
	 	 2014-00014709
	 	 2014-00014709
	 	 08/19/2014
	 	The
    Mark V West Testamentary Tr c/o Texas Bank & Tr Company	 	 O’Brien
Resources, LLC

	 Henderson
	 	 2014-00014710
	 	 2014-00014710
	 	 08/19/2014
	 	Shelly
    West Bowman	 	 O’Brien
                                            Resources, LLC

	Henderson

     

     
	 	2014-00014708

     

     
	 	2014-00014708

     

     
	 	08/19/2014

     

     
	 	Waverly
    West Burford aka Waverly West, aka Ann Waverly West; AIF Stephanie Shawn West, Deceased	 	O’Brien
                                            Resources, LLC

     

     

	Henderson	 	2014-00013010	 	2014-00013010	 	07/07/2014	 	Judy
    Ann Spindor	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00013009	 	2014-00013009	 	07/23/2014	 	Irvin
    H. Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00013015	 	2014-00013015	 	09/03/2014	 	Jack
    P. Rahm, Trustee	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00013018	 	2014-00013018	 	08/22/2014	 	Laurie
    Hart	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00013016	 	2014-00013016	 	09/04/2014	 	Rentier,
    Inc., Shirley Pogue, President	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00013017	 	2014-00013017	 	09/03/2014	 	VWP,
    Jr., Inc. by Victor W. Pryor Jr., Trustee	 	O’Brien
    Resources, LLC
	 Henderson
	 	 2014-00013019
	 	 2014-00013019
	 	 09/16/2014
	 	Teena
    Mitchell Whitsell	 	 O’Brien
                                            Resources, LLC

	Henderson	 	2014-00015293	 	2014-00015293	 	09/18/2014	 	Allan
    Goldston King Residuary Tr, David Russell King Res Tr, Duane Hadley King Res Tr, Gwendolyn Carlisle King Res Tr & Susan Goldston
    Grantor Trust Morgan Chase Bank Trustee	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014701	 	2014-00014701	 	09/26/2014	 	Horace
    Reagon Webb (O’Benco IV)	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014703	 	2014-00014703	 	09/24/2014	 	Ronald
    C. Pate	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014702	 	2014-00014702	 	09/24/2014	 	Dorothy
    Anne Landis	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014711	 	2014-00014711	 	09/25/2014	 	Randy
    Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014713	 	2014-00014713	 	09/25/2014	 	J.
    W. Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014712	 	2014-00014712	 	09/24/2014	 	Nell
    Pharris Burnett	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014704	 	2014-00014704	 	08/11/2014	 	David
    R. Soulsby	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014717	 	2014-00014717	 	07/10/2014	 	Helen
    Splawn (Deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014716	 	2014-00014716	 	09/24/2014	 	Homer
    Pate	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014719	 	2014-00014719	 	09/29/2014	 	Keith
    Lee Pate	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014714	 	2014-00014714	 	07/10/2014	 	Lenell
    Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014721	 	2014-00014721	 	08/11/2014	 	Susan
    A. Soulsby	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014718	 	2014-00014718	 	10/08/2014	 	Mary
    Louise Moore Wilbanks	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014720	 	2014-00014720	 	09/23/2014	 	RVS
    Minerals, LLC , Margaret	 	O’Brien
    Resources, LLC
	 

    Henderson
	 	 

    2014-00014726
	 	 

    2014-00014726
	 	 

    07/23/2014
	 	McDaniel,
                                            Manager

    Harvil
    Lester Lambright
	 	 

    O’Brien
    Resources, LLC

	Henderson	 	2014-00014722	 	2014-00014722	 	10/08/2014	 	Anita
    Lee Robinson	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014728	 	2014-00014728	 	10/08/2014	 	Janet
    E. Woodman	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014730	 	2014-00014730	 	10/08/2014	 	Tommie
    Michael Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000799	 	2015-00000799	 	10/02/2014	 	Walter
    R. Neill, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000803	 	2015-00000803	 	10/02/2014	 	Karleen
    Neill Raper	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015305	 	2014-00015305	 	10/14/2014	 	Jerry
    Nell Mitchell Wilbanks	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015306	 	2014-00015306	 	10/14/2014	 	Wayne
    Mitchell	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015307	 	2014-00015307	 	10/22/2014	 	Bettie
    Luttrall	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2014-00015309	 	2014-00015309	 	10/22/2014	 	Doris
    Jean Peevy George	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015308	 	2014-00015308	 	10/22/2014	 	Harlon
    Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015301	 	2014-00015301	 	09/16/2014	 	Ricky
    Campbell	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015297	 	2014-000152979	 	09/16/2014	 	Rayeanne
    Owen	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015298	 	2015-00015298	 	09/16/2014	 	Mark
    Green and Renee Green	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015299	 	2014-00015299	 	09/29/2014	 	Judith
    Ann Grimes	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015300	 	2014-00015300	 	09/16/2014	 	Diane
    Bennett	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015296	 	2014-00015296	 	08/28/2014	 	Brenda
    Lois McGee	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015295	 	2014-00015295	 	08/28/2014	 	Charlcie
    Reynolds	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015303	 	2014-00015303	 	10/21/2014	 	J.
    T. Peevy	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000199	 	2015-00000199	 	10/30/2014	 	E.
    Wayne Greer	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000218	 	2015-00000218	 	11/05/2014	 	E.
    B. LaRue, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000217	 	2015-00000217	 	10/08/2014	 	Debbie
    R. Jenkins	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00015304	 	2014-00015304	 	10/02/2014	 	Elizabeth
    W. Neill	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000200	 	2015-00000200	 	10/23/2014	 	Margaret
    Stevens Partners, Ltd. by Margaret Stevens Partner	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000198	 	2015-00000198	 	10/30/2014	 	Grubb
    Holdings, L.P. #3, by Greg Grubb as Partner	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000197	 	2015-00000197	 	10/13/2014	 	Mary
    H. Hodge, aka Mary M. Hodge	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00003846	 	2015-00003846	 	02/16/2015	 	David
    M. Pritchard and Judy Pritchard	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00014700	 	2014-00014700	 	05/20/2014	 	Windsor
    Interests, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000216	 	2015-00000216	 	09/24/2014	 	Kathryn
    Spring Wilkins	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000213	 	2015-00000213	 	10/22/2014	 	Deana
    Tillman Crockett	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000215	 	2015-00000215	 	11/17/2014	 	W.
    C. Perryman III	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000206	 	2015-00000206	 	11/25/2014	 	E.
    B. Larue, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000214	 	2015-00000214	 	11/17/2014	 	Kristin
    Larue Perryman	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00016169	 	2014-00016169	 	12/01/2014	 	Richard
    Sanders, as 2014A-0869 Receiver for Lambright Heirs et al	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000204	 	2015-00000204	 	10/27/2014	 	Gretchen
    Perryman Lahourcade	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000212	 	2015-00000212	 	11/17/2014	 	Gretchen
    Perryman Lahourcade	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000203	 	2015-00000203	 	11/17/2014	 	LaGrass
    Property Holdings by John W. Roberts	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00010670	 	2015-00010670	 	11/16/2014	 	John
    Lingo Schoellkopf, Alan C. Schoellkopf, Wilson Schoellkopf, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000201	 	2015-00000201	 	12/09/2014	 	Mark
    H. Cohen	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000205	 	2015-00000205	 	12/08/2014	 	Keetah
    Holley, widow of Roger Dale Holley	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000211	 	2015-00000211	 	10/08/2014	 	Leland
    D. Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00001741	 	2015-00001741	 	12/12/2014	 	Robert
    Avon Holley	 	O’Brien
    Resources, LLC
	Henderson	 	2014-00001742	 	2015-00001742	 	12/08/2014	 	Mary
    Louise Moore Wilbanks	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00001744	 	2015-00001744	 	12/08/2014	 	Debra
    K. Vinyard	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00001743	 	2015-00001743	 	12/08/2014	 	Vickie
    E. Hewitt	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00001745	 	2015-00001745	 	12/09/2014	 	Timmie
    J. Coleman	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00004946	 	2015-00004946	 	01/26/2015	 	Henderson-Elmcrest
    Trust by Lauren Butler, Trustee	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000815	 	2015-00000815	 	08/19/2014	 	Shawn
    West Webb	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000813	 	2015-00000813	 	08/19/2014	 	Waverly
    West Burford aka Waverly West, aka Ann Waverly West; AIF Stephanie Shawn West. Deceased	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000811	 	2015-00000811	 	08/19/2014	 	Wynne
    West Anderson	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000820	 	2015-00000820	 	08/19/2014	 	The
    Catherine Coleman Murchison Ex Tr, George Bedell Trustee	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2015-00000819	 	2015-00000819	 	08/19/2014	 	The
    Mark V West Testamentary Tr c/o Texas Bank & Tr Company	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000817	 	2015-00000817	 	08/19/2014	 	Shelly
    West Bowman	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00003843	 	2015-00003843	 	02/06/2015	 	Tommy
    Lynn Jernigan	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00004942	 	2015-00004942	 	03/18/2015	 	Chad
    Arlen Gilbert	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00006851	 	2015-00006851	 	04/01/2015	 	Eddith
    G. Reynolds Trust	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00006849	 	2015-00006849	 	03/25/2015	 	Carroll
    Springs United Meth Church c/o Wayne Mitchell	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00004941	 	2015-00004941	 	02/16/2015	 	Neill
    Oil, LLC by Virginia B. Price, Mgr	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00008729	 	2012-00008729	 	03/01/2012	 	Terry
    Glenn Laymance	 	CenTex
    Oil & Gas, Inc.
	Henderson	 	2015-00006847	 	2015-00006847	 	03/31/2015	 	Owen
    Oil & Gas Properties, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00006856	 	2015-00006856	 	04/02/2015	 	Karleen
    Neill Raper	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00006862	 	2015-00006862	 	04/14/2015	 	Neill
    Oil, LLC by Virginia B. Price, Manager	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00006861	 	2015-00006861	 	04/14/2015	 	RVS
    Minerals, LLC by Margaret Alice McDaniel, Manager	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000827	 	2015-00000827	 	09/10/2014	 	Patricia
    Ann Bragg	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000809	 	2015-00000809	 	09/11/2014	 	The
    R. E. and P. D. Dwelle Living Trust Daniel A. Dwelle Successor Trustee	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000808	 	2015-00000808	 	09/11/2014	 	Betty
    Sue Dwelle Waters	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000828	 	2015-00000828	 	09/16/2014	 	Leona
    Earl May	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000791	 	2015-00000791	 	09/11/2014	 	Jeanne
    Dwelle Waters by Lindsley Waters III, AIF	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00006865	 	2015-00006865	 	04/23/2015	 	James
    Strowd	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00006864	 	2015-00006864	 	04/15/2015	 	George
    Couch	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00005482	 	2015-00005482	 	04/20/2015	 	Unknown
    Heirs of W. H. Baker by RIchard Sanders Receiver	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00005483	 	2015-00005483	 	04/20/2015	 	Unknown
    Heirs of Ola Mae Starkey Coleman et al by Richard Sanders Receiver CV 15-0033-173	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00006839	 	2015-00006839	 	04/02/2015	 	Walter
    R. Neill	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009916	 	2015-00009916	 	05/15/2015	 	Ruby
    Elaine Everett	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009914	 	2015-00009914	 	04/02/2015	 	Elizabeth
    W. Neill	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009904	 	2015-00009904	 	04/15/2015	 	Trudy
    Fay Hawkins	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009906	 	2015-00009906	 	04/27/2015	 	Troy
    V. Smith	 	O’Brien
    Resources, LLC
	Henderson	 	2474-520	 	201505262	 	05/28/2015	 	William
    Luther Kale by AIF Elena Kale Glasscock	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009900	 	2015-00009900	 	05/15/2015	 	Kevin
    Lee Everett	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009888	 	2015-00009888	 	07/02/2015	 	Levi
    Clakley	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009889	 	2015-00009889	 	07/21/2014	 	Carolyn
    Goldston	 	O’Brien
    Resources, LLC
	Henderson	 	2474-516	 	201505261	 	05/28/2015	 	Elena
    Kale Glasscock	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00014556	 	2015-00014556	 	05/21/2015	 	Goldston
    Oil Corporation as Nominee for Susan Mayfield, 1997, Marital Tr; Jack H. Mayfield, III; Walter G. Mayfield; Walter G. Mayfield; Lydia
    Mayfield Abbott 1999 Trust; Iris Goldston Trust for Nancy Zoe Goldston; and Zoe Goldston Herpin, Individually	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009909	 	2015-00009909	 	05/28/2015	 	Southwest
    Mineral Group, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00012654	 	2015-00012654	 	05/19/2015	 	Mary
    E. Grisso Trust No. 1 by Harry J. Schafer III, Trustee	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00009907	 	2015-00009907	 	03/18/2015	 	William
    Adcock	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2015-00013129	 	2015-00013129	 	07/23/2015	 	Edwin
    Cox Jr. Trust No. 12 by William	 	O’Brien
    Resources, LLC
	 

    Henderson
	 	 

    2015-00013093
	 	 

    2015-00013093
	 	 

    07/20/2015
	 	L.
                                            Graham Trustee

    Kimberly
    Sinclair
	 	 

    O’Brien
    Resources, LLC

	Henderson	 	2015-00013095	 	2015-00013095	 	05/15/2015	 	Aaron
    Lee Everett	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00013097	 	2015-00013097	 	07/28/2015	 	Pine
    Ridge Ranch, LLC; William Barrett Travis Director	 	O’Brien
    Resources, LLC
	 

    Henderson
	 	 

    2015-00013094
	 	 

    2015-00013094
	 	 

    08/05/2015
	 	Mike
    Woodchek	 	 

    O’Brien
    Resources, LLC

	Henderson	 	2015-00013739	 	2015-00013739	 	08/31/2015	 	Gold
                                            Struck Investments, L.P. Wells Fargo N.A. Agent

     
	 	O’Brien
    Resources, LLC
	 

    Henderson
	 	 

    2015-00013738
	 	 

    2015-00013738
	 	 

    08/31/2015
	 	Megan
    Goldston Family Trust IMA,	 	 

    O’Brien
    Resources, LLC

	 

    Henderson
	 	 

    2015-00013737
	 	 

    2015-00013737
	 	 

    08/31/2015
	 	Wells
                                            Fargo Bank N.A. Agent

    Bill
    Goldston Family Trust IMA, Wells Fargo Bank, N.A., Agent
	 	 

    O’Brien
    Resources, LLC

	 Henderson
	 	 2015-00013741
	 	 2015-00013741
	 	 07/02/2015
	 	Bradley
    Lee Clakley	 	 O’Brien
Resources, LLC

	Henderson	 	2015-00013100	 	2015-00013100	 	07/02/2015	 	Dempsey
    Lee Clakley	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015105	 	2015-00015105	 	08/27/2015	 	John
    W. Murchison Oil & Gas, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015101	 	2015-00015101	 	08/27/2015	 	John
    W. Murchison Oil & Gas, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015100	 	2015-00015100	 	08/27/2015	 	John
    W. Murchison Oil & Gas, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015102	 	2015-00015102	 	08/27/2015	 	John
    W. Murchison Oil & Gas, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015106	 	2015-00015106	 	08/27/2015	 	John
    W. Murchison Oil & Gas, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015109	 	2015-00015109	 	08/27/2015	 	Laura
                                            M. Woodall and Meredith Mallory, III

     
	 	O’Brien
    Resources, LLC
	 

    Henderson
	 	 

    2015-00015108
	 	 

    2015-00015108
	 	 

    08/27/2015
	 	Blair
    P. Woodall and Laura Mallory Woodall and Laura M. Woodall Tr of the Meredith Mallory III	 	 

    O’Brien
    Resources, LLC

	 

     

    Henderson
	 	 

     

    2015-00015107
	 	 

     

    2015-00015107
	 	 

     

    08/27/2015
	 	Management
                                            Trust

    John
    W. Murchison Oil & Gas, Ltd.
	 	 

     

    O’Brien
    Resources, LLC

	Henderson	 	2015-00015117	 	2015-00015117	 	08/27/2015	 	MI4
    Minerals, Ltd	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015112	 	2015-00015112	 	08/27/2015	 	MI4
    Minerals, Ltd	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015110	 	2015-00015110	 	08/27/2015	 	MI4
    Minerals, Ltd	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015111	 	2015-00015111	 	08/27/2015	 	MI4
    Minerals, Ltd	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015118	 	2015-00015118	 	08/27/2015	 	MI4
    Minerals, Ltd	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015119	 	2015-00015119	 	08/27/2015	 	MI4
    Minerals, Ltd	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00013742	 	2015-00013742	 	09/22/2015	 	Kenneth
    Earl Watkins	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015049	 	2015-00015049	 	09/23/2015	 	PEC
    Minerals, LP	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015666	 	2015-00015666	 	09/03/2015	 	Joe
    Miller Holloway	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015667	 	2015-00015667	 	09/03/2015	 	Wynelle
    Holloway	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00001905	 	2015-00001905	 	02/09/2015	 	Richard
                                            Sanders, Receiver Cause #2014B-1181

    Heirs
    of Charles Mills etal
	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00003844	 	2015-00003844	 	09/25/2014	 	Ernest
    C. Bryant III	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015052	 	2015-00015052	 	09/23/2015	 	PEC
    Minerals, LP	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015048	 	2015-00015048	 	09/23/2015	 	PEC
    Minerals, LP	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015050	 	2015-00015050	 	09/23/2015	 	PEC
    Minerals, LP	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015053	 	2015-00015053	 	09/23/2015	 	PEC
    Minerals, LP	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000842	 	2015-00000842	 	08/15/2014	 	Jeffrey
    W. Eaton	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000834	 	2015-00000834	 	08/15/2014	 	Richard
    H. Eaton	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000836	 	2015-00000836	 	08/15/2014	 	Robert
    W. Percival	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015675	 	2015-00015675	 	10/29/2015	 	Brenda
    Turbyfill	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015676	 	2015-00015676	 	10/29/2015	 	Mary
    Priscilla Jenkins Meador	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00015677	 	2015-00015677	 	10/20/2015	 	Jerry
    Braddock, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00000588	 	2016-00000588	 	10/29/2015	 	Randy
    Jenkins	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2016-00000596	 	2016-00000596	 	10/20/2015	 	Kerry
    T. Hurt	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00000590	 	2016-00000590	 	11/02/2015	 	Cheryl
    Blackwell-Rhea fka Cheryl Ann Jenkins Randy Jenkins	 	O’Brien
    Resources, LLC
	 	 	 	 	 	 	 	 	 	 	 
	Henderson	 	2016-00000600	 	2016-00000600	 	11/02/2015	 	Julia
    Jenkins	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00000591	 	2016-00000591	 	11/02/2015	 	Sarah
    Jenkins	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00000592	 	2016-00000592	 	11/02/2015	 	Linda
    Ovino (Carson)	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00000594	 	2016-00000594	 	11/02/2015	 	Julianna
    Bowling fka Julianna Jenkins	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00001919	 	2016-00001919	 	12/08/2015	 	Mark
    H. Cohen	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00001916	 	2016-00001916	 	11/27/2015	 	Stephen
    Dollar	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00001917	 	2016-00001917	 	12/08/2015	 	Benjamin
    Aaron Cohen	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00001918	 	2016-00001918	 	09/05/2015	 	Amanda
    Beth (Cohen)Godwin	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00001922	 	2016-00001922	 	11/30/2015	 	Michael
    George Watkins	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003594	 	2016-00003594	 	01/14/2016	 	Douglas
    Jay Crow	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003596	 	2016-00003596	 	01/21/2016	 	Sandra
    J. Pontes	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003595	 	2016-00003595	 	01/22/2016	 	Stanley
    Max Everett-	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003608	 	2016-00003608	 	01/26/2016	 	Susan
    G. Till	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000844	 	2015-00000844	 	07/15/2014	 	Dorothy
    Holzworth	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000864	 	2015-00000864	 	07/15/2014	 	Sandra
    Lee Davis	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000850	 	2015-00000850	 	07/15/2014	 	James
    Sweatt	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000884	 	2015-00000884	 	07/15/2014	 	Michael
    Lynn Easterwood	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000857	 	2015-00000857	 	07/17/2014	 	Robert
    Gray et u9thx	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000858	 	2015-00000858	 	07/15/2014	 	Donna
    Jean Colley	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000874	 	2015-00000874	 	07/24/2014	 	Norman
    Joseph Colley, Ind. & as Atty- in-Fact for Charlotte V. Bennett, FKA Charlotte V. Colley	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003613	 	2016-00003613	 	01/26/2016	 	Robert
    Coleman	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003591	 	2016-00003591	 	10/16/2015	 	King
    Oil & Gas of Texas, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003611	 	2016-00003611	 	01/26/2016	 	Charlotte
    Arnold	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003610	 	2016-00003610	 	01/26/2016	 	Bettye
    Lelane Harvill Newberry	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00005132	 	2016-00005132	 	02/01/2016	 	Troy
    M. Price	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00005128	 	2016-00005128	 	02/02/2016	 	Amanda
    Beth (Cohen)Godwin	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00005129	 	2016-00005129	 	02/09/2016	 	Mary
    Coleman Nestor	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00003045	 	2016-00003045	 	02/23/2016	 	Malcolm
    Lee Watson Sr.	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006217	 	2016-00006217	 	01/26/2016	 	Jean
    Lynette Harvill	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006268	 	2016-00006268	 	01/22/2016	 	Joye
    M. Bond	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006220	 	2016-00001173	 	01/26/2016	 	James
    Linwood Harvill, Jr.	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006265	 	2016-00006265	 	02/03/2016	 	Carolyn
    Garvin Berry	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007423	 	2016-00007423	 	04/01/2016	 	Jewell
    Ramirez	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007416	 	2016-00007416	 	04/01/2016	 	Billy
    James Hooker	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006226	 	2016-00006226	 	02/01/2016	 	Lacey
    Nicole Terry	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006231	 	2016-00006231-	 	03/24/2016	 	Harvill
    Lester Lambright and Patricia A. Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006230	 	2016-00006230	 	03/29/2016	 	Wesley
    Richmon and Jodi Richmon	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007424	 	2016-00007424	 	04/01/2016	 	Purvis
    Wayne Hooker	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006212	 	2016-00006212	 	04/04/2016	 	John
    Wulf	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006213	 	2016-00006213	 	04/21/2016	 	Elaine
    Cox Cole Warren	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006214	 	2016-00006214	 	03/31/2016	 	Jerry
    Wayne Rogers and Wanda Beth Rogers	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007434	 	2016-00007434	 	11/02/2015	 	Joshua
    Earl Jenkins	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007428	 	2016-00007428	 	04/12/2016	 	Debbie
    Jenkins	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007427	 	2016-00007427	 	04/12/2016	 	Leland
    Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007426	 	2016-00007426	 	04/12/2016	 	Tommie
    Michael Lambright	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007425	 	2016-00007425	 	04/12/2016	 	Anita
    Robinson	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK PAGE	 	REGISTRY #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2016-00007430	 	2016-00007430	 	04/04/2016	 	Karin
    Wulf Cates	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007429	 	2016-00007429	 	04/04/2016	 	Janet
    Wulf Martinez	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000798	 	2015-00000798	 	10/07/2014	 	John
    L. Powers and Debra	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00006211	 	2016-00006211	 	04/06/2016	 	VWP
    Jr Inc by Victor W. Pryor, Jr., Trustee	 	O’Brien
    Resources, LLC
	 

    Henderson
	 	 

    2016-00012753
	 	 

    2016-00012753
	 	 

    05/18/2016
	 	Southwest
    Mineral Group by: George Henderson III, Manager	 	 

    O’Brien
    Resources, LLC

	 

    Henderson
	 	 

    2016-00007422
	 	 

    2016-00007422
	 	 

    05/16/2016
	 	Rentier,
    Inc. by Shirley Pogue, President	 	 

    O’Brien
    Resources, LLC

	 Henderson
	 	 2016-00007420
	 	 2016-00007420
	 	 05/23/2016
	 	

    Michael
    E. Hurt
	 	 O’Brien
Resources, LLC

	Henderson	 	2016-00007419	 	2016-00007419	 	05/19/2016	 	Billy
    Gene Fisher	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00008879	 	2016-00008879	 	06/06/2016	 	W.
    C. “Chip” Perryman III	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00008876	 	2016-00008876	 	05/29/2016	 	Premier
    LM LP	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00001394	 	2017-00001394	 	05/29/2016	 	Premier
    LM II, LP	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00008867	 	2016-00008867	 	05/19/2016	 	Brenda
    Fisher Wheeler	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00008868	 	2016-00008868	 	05/19/2016	 	Jan
    Lancaster Stanton	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00008871	 	2016-00008871	 	03/28/2016	 	Patricia
    T. McGuffey	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00008865	 	2016-00008865	 	05/25/2016	 	James
    W. Hurt	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00012778	 	2016-00012778	 	04/04/2016	 	Robert
    Wulf (now deceased)	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00007436	 	2016-00007436	 	01/26/2016	 	Bettye
    F. Mackie	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00012510	 	2016-00012510	 	05/16/2016	 	Kelly
    Milan Trahan and Scott Trahan	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00016268	 	2016-00016268	 	03/29/2016	 	Annabelle
    McGuffey Dixon	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00016270	 	2016-00016270	 	09/14/2016	 	Vickie
    Elaine Cooper aka Vickie Bullard	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00016271	 	2016-00016271	 	09/14/2016	 	Brenda
    Joyce Nikel	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00016273	 	2016-00016273	 	09/14/2016	 	Laura
    Dianne Slate	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00016274	 	2016-00016274	 	05/19/2016	 	Ruth
    Anne Homan	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00016276	 	2016-00016276	 	09/14/2016	 	Weldon
    Darwin Cooper	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00001398	 	2017-00001398	 	08/31/2016	 	David
    R. Soulsby	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00001407	 	2017-00001407	 	08/31/2016	 	Susan
    A. Soulsby	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00001395	 	2017-00001395	 	09/14/2016	 	*Mary
    Cox	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00010907	 	2017-00010907	 	09/13/2016	 	Ronald
    L. Williams	 	O’Brien
    Resources, LLC
	Henderson	 	2016-00001275	 	2016-00001275	 	01/18/2017	 	Sonja
    Lewis Simon	 	O’Brien
    Resorces, LLC
	Henderson	 	2017-00001399	 	2017-00001399	 	05/19/2016	 	Rayford
    Fisher	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00001405	 	2017-00001405	 	11/09/2016	 	Dana
    G. Mitchell	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00001400	 	2017-00001400	 	10/18/2016	 	Dana
    G. Mitchell	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004157	 	2017-00004157	 	12/14/2016	 	Ronald
    Mark Hill	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004153	 	2017-00004153	 	12/14/2016	 	Jackie
    Dwight Hill	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004152	 	2017-00004152	 	12/14/2016	 	Diane
    Hill Duncan	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000829	 	2015-00000829	 	09/02/2014	 	Margaret
    Alice McDaniel	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00000849	 	2015-00000849	 	08/06/2014	 	Owen
    Oil & Gas Properties, LLC	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004154	 	2017-00004154	 	12/08/2016	 	Janet
    Davis FKA Janet Jenkins	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004147	 	2017-00004147	 	12/13/2016	 	Glen
    Parker	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004166	 	2017-00004166	 	12/27/2016	 	Harold
    Gene Royle	 	O’
    Brien Resources, LLC
	Henderson	 	2017-00004165	 	2017-00004165	 	12/27/2016	 	Tommy
    Franklin Royle	 	O’
    Brien Resources, LLC
	Henderson	 	2015-00013843	 	2015-00013843	 	09/23/2015	 	Richard
    Sanders, Receivership Cause # CV15-0318-3	 	O’Brien
    Resources, LLC
	 Henderson
	 	 2017-00004146
	 	 2017-00004146
	 	 11/30/2016
	 	Krista
    Baldwin	 	

    O’Brien
    Resources, LLC

	Henderson	 	2017-00004171	 	2017-00004171	 	02/02/2017	 	Luther
    Wade Sides	 	O’Brien
    Resources, LLC
	Henderson	 	2015-00003648	 	2015-00003648	 	03/10/2015	 	Petra
    Zeigermann	 	McCutchin
    Genpar, LLC

 

    	 

    	 

    

 

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2017-00003358	 	2017-00003358	 	09/06/2016	 	Patch
    Energy, LLC; Candlewood 

    Resources,
    LLC; Preston Patry
	 	O’Brien
    Resources, LLC
	 	 	 	 	 	 	 	 	 	 	 
	Henderson	 	2017-00004172	 	2017-00004172	 	02/15/2017	 	Brenda
    Joyce Nikel	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004174	 	2017-00004174	 	02/15/2017	 	Laura
    Dianne Slate	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004175	 	2017-00004175	 	02/15/2017	 	Vickie
    Elaine Cooper	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00004176	 	2017-00004176	 	02/15/2017	 	Weldon
    Darwin Cooper	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00003283	 	2017-00003283	 	03/01/2017	 	Gary
    M. Reeves and wife, Dana M. Reeves	 	O’Brien
    Resources, LLC
	 	 	 	 	 	 	 	 	 	 	 
	Henderson	 	201-700017564	 	2017-00017564	 	07/27/2017	 	Windsor
    Interests, Ltd.	 	O’Brien
    Resources, LLC
	Henderson	 	2017-00017556	 	2017-00017556	 	07/27/2017	 	Windsor
    Interests, Ltd.	 	O’Brien
    Resources, LLC
	Henderson

     

    Henderson
	 	2016-00000413

     

    2015-0016263
	 	2016-00000413

     

    2015-0016263
	 	01/12/2016

     

    11/30/2015
	 	John
    Youngblood, Receiver Cause No. CV15-0485-392, I.H. Lambright & Unknown Heirs et al

    John
    Youngblood, Receiver Cause No.
	 	O’Brien
    Resources, LLC

     

    O’Brien
    Resources, LLC

	Henderson	 	2010-00014050	 	2010-00014050	 	04/01/2010	 	DCCV15-0322-392,
    E.A. Cummings & Unknown Heirs et al

    Donna
    J. Abernathy
	 	Perryman
    Exploration
	 

    Henderson
	 	 

    2010-00005386
	 	 

    2010-00005386
	 	 

    04/01/2010
	 	 

    David
    Abernathy
	 	Partners,
    LLC

    Perryman
    Exploration

	 

    Henderson
	 	 

    2010-00014501
	 	 

    2010-00014501
	 	 

    04/01/2010
	 	 

    Herbert
    Abernathy (Deceased)
	 	Partners,
    LLC

    Perryman
    Exploration

	 

    Henderson
	 	 

    2012-00014015
	 	 

    2012-00014015
	 	 

    05/31/2012
	 	 

    Charles
    Leonard Adams
	 	Partners,
    LLC

    Beaufort
    Operating, LLC

	Henderson	 	2886-304	 	2008-00010467	 	06/25/2008	 	Daisy
    Till Akin (dec’d)	 	Beaufort
    Operating, LLC
	Henderson	 	2357-0582	 	201305668	 	11/11/2012	 	Ella
    Marie Albers	 	Beaufort
    Operating, LLC
	Henderson

     

    
	 	2012-00014044

     

    
	 	2012-00014044

     

    
	 	08/23/2012

     

    
	 	Harold
    Randolph Bailey, Individually and as Executor of the Estate of Ruth Cotton Whiddon, Dec’d

    
	 	Beaufort
    Operating, LLC

     

    

	Henderson	 	2012-00014073	 	2012-00014073	 	08/06/2012	 	Richard
    T. Bailey (Staria J. Bailey) 	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014092	 	2012-00014092	 	08/23/2012	 	William
    Randolph Bailey	 	Beaufort
    Operating, LLC
	Henderson	 	2013-0003828	 	2013-0003828	 	02/23/2005	 	Joan
    Marie Batson Bandsuch	 	Eiche,
    Mapes and Company, Inc.
	

    Henderson
	 	

    2627-0195
	 	

    0003829
	 	

    02/23/2005
	 	 Travis
V. Batson, Jr.
	 	

    Eiche,
    Mapes and Company,

	 

    Henderson
	 	 

    2015-00003847
	 	 

    2015-00003847
	 	 

    02/25/2015
	 	 

    Brook
    Baugh
	 	Inc.

    O’Brien
    Resources, LLC

	Henderson	 	2886-299	 	2008-00010462	 	06/23/2008	 	David
    Wayne Bolt	 	Perryman
    Exploration
	 

    Henderson
	 	 

    2013-00012958
	 	 

    2013-00012958
	 	 

    09/13/2012
	 	 

    Ernest
    C. Bryant, III
	 	Partners,
    LLC

    Beaufort
    Operating, LLC

	Henderson	 	2869-094	 	006889	 	11/12/2007	 	Don
    Bullock and wife, Shirley Bullock	 	Perryman
    Exploration Partners,
    LLC
	

    Henderson
	 	

    2010-00007590
	 	

    2010-00007590
	 	

    05/10/2010
	 	

    Daniel
    Wilson Bywaters and wife,
	 	

    Perryman
    Acquisitions

	

    Henderson
	 	

    2012-00014062
	 	

    2012-00014062
	 	

    06/11/2012
	 	Leslie
    Dale Bywaters

    Mary
    Cameron, Heir of Loraine Carlson Sigler
	 	2010,
    LLC

    Beaufort
    Operating, LLC

	

    Henderson
	 	

    2010-00005384
	 	

    2010-00005384
	 	

    04/01/2010
	 	

    Johns
    E. Clark
	 	

    Perryman
    Exploration Partners,
    LLC

	

    Henderson
	 	

    2012-00014096
	 	

    2012-00014096
	 	

    08/23/2012
	 	

    Cathy
    Cole
	 	

    Beaufort
    Operating, LLC

	Henderson	 	2012-00014095	 	2012-00014095	 	08/23/2012	 	Pat
    Cole	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014100	 	2012-00014100	 	07/06/2012	 	Clay
    Cotton, Jr.	 	Beaufort
    Operating, LLC
	Henderson	 	2013-00012954	 	2013-00012954	 	10/02/2012	 	Bernetta
    Curtis	 	Beaufort
    Operating, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2894-772	 	2008-00012354	 	07/01/2008	 	*W.
    G. Darsey, III	 	Perryman
    Exploration
	 	 	 	 	 	 	 	 	 	 	Partners,
    LLC
	Henderson	 	2012-00014068	 	2012-00014068	 	08/22/2012	 	Charles
    Davis, Jr.	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014067	 	2012-00014067	 	08/22/2012	 	Kenneth
    D. Davis	 	Beaufort
    Operating, LLC
	Henderson	 	2013-00012952	 	2013-00012952	 	10/02/2012	 	Betty
    Demarest	 	Beaufort
    Operating, LLC
	Henderson	 	2010-00005385	 	2010-00005385	 	04/01/2010	 	Dereck
    G. Dodson	 	Perryman
    Exploration
	 	 	 	 	 	 	 	 	 	 	Partners,
    LLC
	Henderson	 	2012-00014019	 	2012-00014019	 	08/07/2012	 	Damon
    Douglas Trustee	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014088	 	2012-00014088	 	08/23/2012	 	June
    Dreyer	 	Beaufort
    Operating, LLC
	Henderson	 	2011-00000911	 	2011-00000911	 	01/01/2011	 	Easter
    Seals of Greater North Texas	 	Perryman
    Acquisitions
	 	 	 	 	 	 	 	 	 	 	2010,
    LLC
	Henderson	 	2012-00014051	 	2012-00014051	 	08/20/2012	 	Virginia
    Ewald	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014093	 	2012-00014093	 	08/23/2012	 	Hardy
    England	 	Beaufort
    Operating, LLC
	Henderson	 	2357-0589	 	201305671	 	11/11/2012	 	Jeanna
    L. France	 	Beaufort
    Operating, LLC
	Henderson	 	2944-539	 	002753	 	10/08/2007	 	Stephen
    K. Friedrich and wife, Doree Friedrich	 	Perryman
    Exploration Partners,
    LLC
	Henderson	 	2012-00014020	 	2012-00014020	 	09/21/2012	 	Brock
    Gibson	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014064	 	2012-00014064	 	10/15/2012	 	David
    Gibson	 	Beaufort
    Operating, LLC
	Henderson	 	2469-292	 	0018591	 	06/23/2004	 	Lowell
    Giles	 	Eiche,
    Mapes and Company,
	 	 	 	 	 	 	 	 	 	 	Inc.
	Henderson	 	2010-00007589	 	2010-00007589	 	09/12/2008	 	Gayle
    Hanna	 	Perryman
    Exploration
	 	 	 	 	 	 	 	 	 	 	Partners,
    LLC
	Henderson	 	2012-00014074	 	2012-00014074	 	04/30/2012	 	Robert
    Bryan Hash Family 2006 GST Exempt
    Trust	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014072	 	2012-00014072	 	04/30/2012	 	Steven
    Vincent Hash Family 2006 GST Exempt
    Trust	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014022	 	2012-00014022	 	05/08/2012	 	James
    Albert Hemminger	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014091	 	2012-00014091	 	08/23/2012	 	Ruth
    Ann Hendrick	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014061	 	2012-00014061	 	06/26/2012	 	Johanna
    Hermanson	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014023	 	2012-00014023	 	08/08/2012	 	Becky
    S. Jenkins Hill	 	Beaufort
    Operating, LLC
	Henderson	 	2422-0513	 	201407109	 	11/14/2012	 	Joleene
    Kale Hutchens	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014024	 	2012-00014024	 	05/08/2012	 	Annie
    Jenkins	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014024	 	2012-00014024	 	09/21/2012	 	Billy
    Ralph (Bill) Jenkins	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014034	 	2012-00014034	 	09/20/2012	 	Charles
    Ashley Jenkins	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014035	 	2012-00014035	 	09/19/2012	 	Elfreida
    Jenkins, Trustee of the J.R. and E.R. Jenkins Living Trust 	 	Beaufort
    Operating, LLC
	 	 	 	 	 	 	 	 	 	 
	Henderson	 	2012-00014038	 	2012-00014038	 	09/19/2012	 	Harry
    Albert Jenkins	 	Beaufort
    Operating, LLC
	Henderson	 	2014-00009003	 	2014-00009003	 	09/25/2012	 	Jason
    H. Jenkins	 	Beaufort
    Operating, LLC
	Henderson	 	2014-00009744	 	2014-00009744	 	09/20/2012	 	Ottis
    Ray Jenkins	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014039	 	2012-00014039	 	08/08/2012	 	Reagan
    E. Jenkins, Jr.	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014037	 	2012-00014037	 	09/19/2012	 	Wyley
    Herbert Jenkins	 	Beaufort
    Operating, LLC
	Henderson	 	2015-00006836	 	2015-00006836	 	03/19/2015	 	Debra
    Jordan	 	O’Brien
    Resources, LLC
	Henderson	 	2875-629	 	008264	 	05/08/2008	 	Kathryn
    Louella Tipton Kelly (dec’d)	 	Perryman
    Exploration
	 	 	 	 	 	 	 	 	 	 	Partners,
    LLC
	Henderson	 	2894-766	 	12348	 	06/14/2008	 	Kathryn
    Louella Tipton Kelly (dec’d)	 	Perryman
    Exploration
	 	 	 	 	 	 	 	 	 	 	Partners,
    LLC
	Henderson	 	2903-191	 	014157	 	08/20/2008	 	Aline
    Lambright (Deceased) Life Estate	 	Perryman
    Exploration
	 	 	 	 	 	 	 	 	 	 	Partners,
    LLC
	Henderson	 	2903-195	 	014161	 	08/20/2008	 	Bradley
    Lambright	 	Perryman
    Exploration
	 	 	 	 	 	 	 	 	 	 	Partners,
    LLC
	Henderson	 	2469-280	 	0018587	 	07/06/2004	 	Debbie
    Lambright	 	Eiche,
    Mapes and Company, Inc.

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson

     

    
	 	2903-196

     

    
	 	014162

     

    
	 	08/20/2008

     

    
	 	Lenell
    Lambright and Bradlely S. Lambright

    
	 	Perryman
    Exploration Partners, LLC

    

	Henderson	 	2469-283	 	0018588	 	06/25/2004	 	Leslie
    Lambright	 	Eiche,
    Mapes and Company,
	 

    Henderson
	 	 

    2012-00014025
	 	 

    2012-00014025
	 	 

    05/08/2012
	 	 

    Lucille
    M. Jenkins Latronica (dec’d)
	 	Inc.

    Beaufort
    Operating, LLC

	Henderson	 	2010-00014049	 	2010-00014049	 	04/01/2010	 	Floy
    E. Little (now deceased)	 	Perryman
    Exploration
	 

    Henderson
	 	 

    2015-00006846
	 	 

    2015-00006846
	 	 

    02/19/2015
	 	 

    Ronald
    Lewis McElroy
	 	Partners,
    LLC

    O’Brien
    Resources, LLC

	Henderson	 	2012-00014071	 	2012-00014071	 	06/08/2012	 	David
    McNair	 	Beaufort
    Operating, LLC
	Henderson	 	2938-520	 	001482	 	12/03/2008	 	Patricia
    Miller	 	Perryman
    Exploration
	 

    Henderson
	 	 

    2012-00014043
	 	 

    2012-00014043
	 	 

    08/08/2012
	 	 

    Sterling
    Miller
	 	Partners,
    LLC

    Beaufort
    Operating, LLC

	Henderson	 	2013-00012948	 	2013-00012948	 	08/17/2012	 	Roy
    D. Mills and wife, Kandy Mills	 	Beaufort
    Operating, LLC
	Henderson	 	2016-00012768	 	2016-00012768	 	07/03/2016	 	Dana
    Mitchell	 	O’Brien
    Resources, LLC
	Henderson	 	2012-00014060	 	2012-00014060	 	06/26/2012	 	Suzanne
    Murphy	 	Beaufort
    Operating, LLC
	Henderson	 	2010-00005382	 	2010-00005382	 	04/01/2010	 	Sherrie
    Negrete	 	Perryman
    Exploration Partners,
    LLC
	

    Henderson
	 	

    2012-00014057
	 	

    2012-00014057
	 	

    08/08/2012
	 	

    Elizabeth
    W. Neill
	 	

    Beaufort
    Operating, LLC

	Henderson	 	2013-00012955	 	2013-00012955	 	06/06/2012	 	Neill
    Oil, LLC	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014040	 	2012-00014040	 	08/08/2012	 	Walter
    R. Neill, Jr.	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014099	 	2012-00014099	 	07/31/2012	 	Owen
    Oil & Gas Properties, LLC	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014041	 	2012-00014041	 	08/08/2012	 	Marianne
    Parish	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014042	 	2012-00014042	 	08/08/2012	 	Carol
    Maude Perkins	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014026	 	2012-00014026	 	08/08/2012	 	Sherill
    Jan Jenkins Poff	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014027	 	2012-00014027	 	08/08/2012	 	Roy
    E. Pulis and wife, Carolyn S. Pulis	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014063	 	2012-00014063	 	08/08/2012	 	Karleen
    Neill Raper	 	Beaufort
    Operating, LLC
	Henderson

     

    
	 	2012-00014103

     

    
	 	2012-00014103

     

    
	 	07/19/2012

     

    
	 	Eddith
    G. Reynolds Trust Childrens Medical Center Dallas; William C. Herndon, Trustee

    
	 	Beaufort
    Operating, LLC

     

    

	Henderson	 	2012-00014089	 	2012-00014089	 	08/23/2012	 	Milly
    Schaer	 	Beaufort
    Operating, LLC
	Henderson	 	2905-437	 	014704	 	08/25/2008	 	Allen
    Schmitt and Julie Sue Hanna Schmitt	 	Beaufort
    Operating, LLC
	

    Henderson
	 	

    2011-00000912
	 	

    2011-00000912
	 	

    09/10/2008
	 	

    Julia
    Schmitt, Executrix of Malda Hanna,
    Dec’d
	 	

    Beaufort
    Operating, LLC

	

    Henderson
	 	

    2014-00009004
	 	

    2014-00009004
	 	

    09/26/2012
	 	

    Julie
    Jenkins Shaw
	 	

    Beaufort
    Operating, LLC

	Henderson	 	2010-00003378	 	2010-00003378	 	02/10/2010	 	Donna
    Gail Shelby	 	Perryman
    Exploration
	 

    Henderson
	 	 

    2012-00014029
	 	 

    2012-00014029
	 	 

    08/09/2012
	 	 

    Elise
    Eilenberger Smith
	 	Partners,
    LLC

    Beaufort
    Operating, LLC

	Henderson	 	2012-00014030	 	2012-00014030	 	08/28/2012	 	Ralph
    V. St. John	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014036	 	2012-00014036	 	10/02/2012	 	Marilyn
    Hemminger Talley	 	Beaufort
    Operating, LLC
	Henderson	 	2466-490	 	201503876	 	11/05/2012	 	Dorothy
    Kale Terry	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014059	 	2012-00014059	 	06/26/2012	 	Robert
    Tidgren	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014058	 	2012-00014058	 	06/26/2012	 	Carl
    Tidgren	 	Beaufort
    Operating, LLC
	Henderson	 	2886-300	 	10463	 	06/23/2008	 	Shelia
    Marie Thornton	 	Perryman
    Exploration
	 

    Henderson
	 	 

    2012-00014014
	 	 

    2012-00014014
	 	 

    10/04/2012
	 	 

    Jimmie
    L. Till, AIF Randall Till, Deceased
	 	Partners,
    LLC

    Beaufort
    Operating, LLC

	

    Henderson
	 	

    2013-00012953
	 	

    2013-00012953
	 	

    10/02/2012
	 	

    Elizabeth
    Everett Troyer
	 	

    Beaufort
    Operating, LLC

	Henderson	 	2014-00009002	 	2014-00009002	 	09/26/2012	 	Jennifer
    Allison Jenkins Turner	 	Beaufort
    Operating, LLC
	Henderson	 	2010-00005383	 	2010-00005383	 	04/01/2010	 	Jackie
    Watson	 	Perryman
    Exploration
	

    Henderson
	 	

    2012-00014094
	 	

    2012-00014094
	 	

    08/23/2012
	 	 Sharon
England Weinbeg
	 	Partners,
    LLC

    Beaufort
    Operating, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Henderson	 	2012-00014032	 	2012-00014032	 	05/24/2012	 	The
    Mark V West Testamentary Tr c/o
    Texas Bank & Tr Company	 	Beaufort
    Operating, LLC
	 

    Henderson
	 	 

    2015-00006854
	 	 

    2015-00006854
	 	 

    03/19/2015
	 	

    Rebecca
    D. Westbrook
	 	 

    O’Brien
    Resources, LLC

	Henderson	 	2012-00014090	 	2012-00014090	 	08/23/2012	 	Thomas
    Eugene Whiddon	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014070	 	2012-00014070	 	08/06/2012	 	Judee
    Bailey Williams (Deceased)	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014052	 	2012-00014052	 	08/08/2012	 	Norma
    Williams	 	Beaufort
    Operating, LLC
	Henderson	 	2894-773	 	012355	 	07/01/2008	 	Betty
    Darsey Woods	 	Perryman
    Exploration
	 

    Henderson
	 	 

    2010-00003379
	 	 

    2010-00003379
	 	 

    02/15/2010
	 	 

    Brenda
    Brown Daugherty
	 	Partners,
    LLC

    Perryman
    Exploration

	 

    Henderson
	 	 

    2012-00014047
	 	 

    2012-00014047
	 	 

    09/07/2012
	 	 

    Mary
    Jean Turner
	 	Partners,
    LLC

    Beaufort
    Operating, LLC

	Henderson	 	2012-00014048	 	2012-00014048	 	09/07/2012	 	Paulette
    Flannery	 	Beaufort
    Operating, LLC
	Henderson

     

    
	 	2012-00014050

     

    
	 	2012-00014050

     

    
	 	09/07/2012

     

    
	 	Johanna
    Flannery Denson, Ind. & as Exec. of the Estate of Clara Malinda Flannery

    
	 	Beaufort
    Operating, LLC

     

    

	Henderson	 	2012-00014045	 	2012-00014045	 	09/07/2012	 	Clara
    West (dec’d)	 	Beaufort
    Operating, LLC
	Henderson	 	2012-00014049	 	2012-00014049	 	09/07/2012	 	Malinda
    F. Arrant	 	Beaufort
    Operating, LLC
	Henderson	 	2015-00010670	 	2015-00010670	 	11/16/2014	 	John
    Lingo Schoellkopf, Alan C. Schoellkopf,
    Wilson Schoellkopf, Jr.	 	O’Brien
    Resources, LLC
	

    Anderson
	 	

    2464-0456
	 	

    201503527
	 	

    04/01/2015
	 	

    Clara
    LaRoe Edwards
	 	

    O’Brien
    Resources, LLC

	Anderson	 	2464-0444	 	201503525	 	04/01/2015	 	Dan
    M. LaRoe, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2464-0496	 	201503533	 	04/01/2015	 	Joel
    Miller Herrington	 	O’Brien
    Resources, LLC
	Anderson	 	2464-0463	 	201503528	 	04/01/2015	 	Mary
    Lois Lacy	 	O’Brien
    Resources, LLC
	Anderson	 	2464-0475	 	201503530	 	04/01/2015	 	Melissa
    Dawn Herrington Thomas	 	O’Brien
    Resources, LLC
	Anderson	 	2464-0489	 	201503532	 	04/01/2015	 	Roy
    Allen Herrington, III	 	O’Brien
    Resources, LLC
	Anderson	 	2464-0482	 	201503531	 	04/01/2015	 	Roy
    Allen Herrington, Jr., Individually	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2476-321
	 	 

    201505556
	 	 

    07/07/2015
	 	and
    as Life Tenant of Life Estate

    John
    Buck Scarborough
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2476-0317	 	201505555	 	07/07/2015	 	Ezem
    G. Scarborough	 	O’Brien
    Resources, LLC
	Anderson	 	2373-0032	 	 	 	08/08/2013	 	Rose
    Washington	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2537-185	 	201606459	 	09/15/2016	 	Alan
    W. Mims	 	O’Brien
    Resources, LLC
	Anderson

     

    
	 	2537-189

     

    
	 	201606460

     

    
	 	09/15/2016

     

    
	 	Tony
    Mims, aka Anthony G. Mims, Dealing in his sole and separate property

     

    
	 	O’Brien
    Resources, LLC

     

    

	Anderson	 	2537-177	 	201606457	 	09/15/2016	 	Angela
    K. Hart, Dealing in her sole and separate
    property	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2537-0175
	 	 

    201606456
	 	 

    09/26/2016
	 	

    Timothy
    E. West, and wife Juanima Charlotte
    J. West aka Juanima
    	 	 

    O’Brien
    Resources, LLC

	 

    Anderson
	 	 

    2537-0167
	 	 

    201606454
	 	 

    09/26/2016
	 	

Charlotte
    J. West aka Juanima West
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2537-171	 	201606455	 	09/27/2016	 	Daniel
    Monroe Matthews, Dealing in his
    sole and separate property	 	O’Brien
    Resources, LLC
	

    Anderson
	 	

    2537-195
	 	

    201606462
	 	

    09/15/2016
	 	

    Tina
    M. Moore, dealing in her sole and separate
    property
	 	

    O’Brien
    Resources, LLC

	Anderson
	 	

    2537-181
	 	

    201606458
	 	

    09/26/2016
	 	

    LaMerle
    Boyd
	 	

    O’Brien
    Resources, LLC

	Anderson	 	2551-0281	 	201700594	 	10/17/2016	 	Gerald
    W. Lasater	 	O’Brien
    Resources, LLC
	Anderson	 	2551-0294	 	201700600	 	10/14/2016	 	Jeff
    Stringfield	 	O’Brien
    Resources, LLC
	Anderson	 	2537-0164	 	201606453	 	09/26/2016	 	Edwina
    W. Huddleston fka Edwina Matthews
    Wall	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2551-0283
	 	 

    201700595
	 	 

    10/17/2016
	 	

    Robbie
    Mims aka Robert Mims, dealing in
    his sole and separate property
	 	 

    O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2443-0365	 	201411060	 	11/22/2014	 	Nan
    Hubert Tiller, a/k/a Nan Hubert Daugherty	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2443-0375	 	201411064	 	11/25/2014	 	Patsy
    Jean Williams	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2443-0377	 	201411065	 	11/25/2014	 	Wanda
    L. Sanders	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2447-0735	 	201500206	 	11/25/2014	 	Dolores
    Walls Lambright, Deceased	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2450-0113	 	201500606	 	12/16/2014	 	Maxine
    Coleman Walls	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2450-0114	 	201500607	 	12/17/2014	 	Sharon
    Lee Walls Rightmer	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2450-0115	 	201500608	 	12/17/2014	 	Becky
    Rayne Walls a/k/a Becky Walls	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2450-0116	 	201500609	 	12/17/2014	 	Dewey
    Ray Walls, Jr.	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2530-0696	 	201605394	 	07/20/2016	 	Lucinda
    Hanks Presley	 	O’Brien
    Resources, LLC
	Anderson	 	2530-0698	 	201605396	 	07/20/2016	 	Jackson
    Hanks	 	O’Brien
    Resources, LLC
	Anderson	 	2530-0697	 	201605395	 	07/20/2016	 	The
    C.W. Hanks Jr. Childrens Trust, by Jackson
    R. Hanks, Trustee	 	O’Brien
    Resources, LLC
	Anderson	 	2556-0391	 	201701477	 	01/20/2017	 	Clifford
    E. Bomer	 	O’Brien
    Resources, LLC
	Anderson	 	2537-0161	 	201606452	 	09/26/2016	 	Bobby
    A. Huddleston and Edwina W.Huddleston, Trustees for the
    B.A. & E.W. Huddleston Living Trust, dated July
    26, 2012 	 	O’Brien
    Resources, LLC
	Anderson	 	2393-0384	 	201400838	 	12/05/2013	 	Kathryn
    Quinn Reid	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2393-0386	 	201400839	 	12/05/2013	 	Carol
    Quinn Culp	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2393-0388	 	201400840	 	12/05/2013	 	Scott
    Finlay Sommer	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2551-0292	 	201700599	 	10/14/2016	 	Jason
    Stringfield	 	O’Brien
    Resources, LLC
	Anderson	 	2551-0290	 	201700598	 	10/14/2016	 	David
    Stringfield	 	O’Brien
    Resources, LLC
	Anderson	 	2399-0505	 	201402226	 	01/03/2014	 	Beverly
    Grace Skelton	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2393-0407	 	201400855	 	01/03/2014	 	Lana
    C. Caperton	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2399-0501	 	201402222	 	01/03/2014	 	Quinclyn
    L. Roland	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2393-0420	 	201400863	 	01/03/2014	 	Winfred
    E. Adams	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2399-0572	 	201402272	 	01/06/2014	 	Harold
    Eugene Hughes, Jr.	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2399-0564	 	201402267	 	01/06/2014	 	Malcolm
    Adams Hughes	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2399-0565	 	201402268	 	01/06/2014	 	Mark
    Winfred Hughes	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2393-0415	 	201400860	 	01/06/2014	 	Randy
    Leroy Adams	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2399-0521	 	201402237	 	01/06/2014	 	Thomas
    William Hughes	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2399-0545	 	201402252	 	01/08/2014	 	Johney
    Lee Williams	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2399-0499	 	201402220	 	01/15/2014	 	Edgar
    Murphy Douglas	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2399-0548	 	201402255	 	02/06/2014	 	Sandra
    Grace Sursa	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2403-0454	 	201403061	 	02/07/2014	 	Petroleum
    Unlimited Family Limited Partnership	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2576-0335	 	201704948	 	04/14/2017	 	Nelda
    Joyce Spence	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0343	 	201704950	 	04/07/2017	 	Rose
    Washington	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0339	 	201704949	 	04/14/2017	 	Lola
    W. Magee	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0321	 	201704944	 	04/14/2017	 	Charles
    R. Grasty	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0317	 	201704943	 	04/19/2017	 	Frieda
    Elliott Osborne	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0309	 	201704941	 	04/19/2017	 	Cynthia
    Davis Wright	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0325	 	201704945	 	04/14/2017	 	George
    W. Vannoy	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0313	 	201704942	 	04/14/2017	 	Carol
    A. Harrison	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0301	 	201704939	 	04/14/2017	 	Patti
    Lynn Means	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0305	 	201704940	 	04/19/2017	 	James
    G. Thomas	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0288	 	2017-04936	 	04/14/2017	 	Gary
    D. Thomas	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0280	 	201704934	 	04/14/2017	 	Homer
    A. Vannoy	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0263	 	201704930	 	04/14/2017	 	James
    Larry Thomas	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0293	 	201704937	 	04/19/2017	 	Jenni
    Davis Bridges	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0297	 	201704938	 	04/14/2017	 	Sharon
    Sue Givens	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2576-0244	 	201704925	 	04/19/2017	 	Charles
    C. Thomas	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0248	 	201704926	 	04/14/2017	 	Doris
    N. Vannoy	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0255	 	201704928	 	04/14/2017	 	Roy
    Lee Vannoy	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0212	 	201704917	 	04/14/2017	 	Judy
    Willhite Elliff	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0216	 	201704918	 	04/14/2017	 	Clayton
    L. Grasty	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0220	 	201704919	 	04/14/2017	 	Leon
    A. Willhite	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0228	 	201704921	 	04/05/2017	 	Mary
    Alice Adamson	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0224	 	201704920	 	04/14/2017	 	William
    Lee Bishop, Sr.	 	O’Brien
    Resources, LLC
	Anderson	 	2424-0415	 	201407476	 	07/24/2014	 	Jackie
    Dwight Hill	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2424-0418	 	201407477	 	07/24/2014	 	Ronald
    Mark Hill	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2424-0421	 	201407478	 	07/24/2014	 	Diane
    Hill Duncan	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2576-0184	 	201704909	 	06/20/2017	 	Jamie
    Pettiette Rhone	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0347	 	201704951	 	04/19/2017	 	Robbie
    L. Davis, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2587-0411	 	201707056	 	06/23/2017	 	Kerrie
    Lynn Laza	 	O’Brien
    Resources, LLC
	Anderson	 	2587-0409	 	201707055	 	06/23/2017	 	Lesley
    Ann Jennings	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0181	 	201704908	 	06/29/2017	 	Nan
    Beth Johnson McReynolds	 	O’Brien
    Resources, LLC
	Anderson	 	2577-0268	 	201705135	 	06/29/2017	 	Michael
    James Johnson	 	O’Brien
    Resources, LLC
	Anderson	 	2576-0178	 	201704907	 	06/29/2017	 	David
    L. Johnson	 	O’Brien
    Resources, LLC
	Anderson	 	 	 	 	 	04/19/2017	 	Dorothy
    Conard Newsom	 	O’Brien
    Resources, LLC
	Anderson	 	2587-0408	 	201707054	 	06/23/2017	 	Randal
    Douglas Honeycutt	 	O’Brien
    Resources, LLC
	Anderson	 	2578-0512	 	201705411	 	06/29/2017	 	Felesha
    Ann Howell	 	O’Brien
    Resources, LLC
	Anderson	 	2578-0509	 	201705410	 	07/19/2017	 	Stephen
    Paul Johnson	 	O’Brien
    Resources, LLC
	Anderson	 	257-0506	 	201705409	 	07/25/2017	 	Donn
    W. Conard	 	O’Brien
    Resources, LLC
	Anderson	 	2584-0559	 	201706533	 	04/19/2017	 	Lecil
    Conard Johnson	 	O’Brien
    Resources, LLC
	Anderson	 	2584-0555	 	201706532	 	06/01/2017	 	Jayme
    Payne	 	O’Brien
    Resources, LLC
	Anderson	 	2584-0552	 	201706531	 	06/16/2017	 	Linda
    Cormack	 	O’Brien
    Resources, LLC
	Anderson	 	2578-0503	 	201705408	 	07/27/2017	 	Nancy
    M. Bryant	 	O’Brien
    Resources, LLC
	Anderson	 	2583-0030	 	201706277	 	04/19/2017	 	Shirley
    Ann Summerall	 	O’Brien
    Resources, LLC
	Anderson	 	2579-0859	 	201705665	 	07/25/2017	 	Annie
    E. Isabell	 	O’Brien
    Resources, LLC
	Anderson	 	2579-0862	 	201705666	 	07/25/2017	 	Donald
    Ray Thomas	 	O’Brien
    Resources, LLC
	Anderson	 	2579-0856	 	201705664	 	07/25/2017	 	David
    G. Thomas	 	O’Brien
    Resources, LLC
	Anderson	 	2579-0865	 	201705667	 	06/29/2017	 	Hal
    Johnson	 	O’Brien
    Resources, LLC
	Anderson	 	2579-0868	 	201705668	 	08/04/2017	 	James
    Roger Myers	 	O’Brien
    Resources, LLC
	Anderson	 	2583-0026	 	201706276	 	06/01/2017	 	Kady
    Payne	 	O’Brien
    Resources, LLC
	Anderson	 	2447-0742	 	201500213	 	11/03/2014	 	Kathryn
    T. Cathey	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2588-0337	 	201707228	 	07/27/2017	 	Joe
    R. Taylor and wife, Evelyn Taylor	 	O’Brien
    Resources, LLC
	Anderson	 	2456-0132	 	201501923	 	12/11/2014	 	Carla
    Dee Borders	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2450-0094	 	201500593	 	12/01/2014	 	Anadarko
    E&P Onshore LLC	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2393-0364	 	201400821	 	11/26/2013	 	Sandra
    Marie Cone Cole, aka Sandra Marie
    Cone	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2422-0001	 	201406908	 	06/28/2014	 	Thomas
    Mark Cooper a/k/a T. Mark Cooper
    and Barbara Cooper	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2359-0219	 	201306057	 	11/09/2012	 	Elizabeth
    Jean Henry Cosper	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2475-0190	 	201505373	 	03/19/2015	 	The
    Episcopal Theological Seminary of the
    Southwest	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2429-0159	 	201408435	 	07/09/2014	 	Carol
    Fitzgerald	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2359-0394	 	201306156	 	11/12/2012	 	Darrell
    R. Henry	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2359-0359	 	201306157	 	11/09/2012	 	David
    Lee Henry	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2489-0701	 	201507893	 	09/30/2015	 	David
    Lee Henry	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2359-0400	 	201306160	 	11/09/2012	 	Grady
    A. Henry	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2359-0402	 	201306161	 	11/12/2012	 	James
    Larry Henry	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2359-0403	 	201306162	 	11/09/2012	 	Joseph
    Dwayne Henry	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2359-0404	 	201306163	 	11/12/2012	 	Mary
    Patricia Henry	 	PETRO-LAND
    GROUP, INC.

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2359-0405	 	201306164	 	11/09/2012	 	Michael
    Heath Henry	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2393-0399	 	201400849	 	12/09/2013	 	Curtis
    Louise Hoehn Lancer	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2393-0374	 	201400829	 	11/26/2013	 	Laurin
    M. Linson	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2447-0761	 	201500227	 	12/16/2014	 	Mary
    Ann Cathey O’Neill, a/k/a Mary Ann
    O’Neill	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2412-0181	 	201404910	 	12/09/2013	 	Mary
    Charlotte Hoehn Payne	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2329-0126	 	201300239	 	11/29/2012	 	Dwight
    L. Phifer	 	Northwest
    Oil & Gas Exploration,
    LLC
	Anderson	 	2422-0448	 	201407081	 	06/25/2014	 	Roger
    G. Schloo	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2440-0363	 	201410492	 	08/15/2014	 	Joycelyn
    Kay Shearin	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2399-0551	 	201402257	 	01/21/2014	 	Annette
    Verner Sherman	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2360-0220	 	201306455	 	11/13/2012	 	Nelda
    Jean Smith, fka Nelda Jean Hussey	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2360-0239	 	201306466	 	12/12/2012	 	Kay
    Henry Steel	 	PETRO-LAND
    GROUP, INC.
	Anderson	 	2473-0211	 	201505042	 	03/19/2015	 	The
    Bishop Quinn Foundation	 	TRI-C
    RESOURCES, LLC
	Anderson	 	2270-0055	 	201106458	 	03/21/2011	 	John
    C. Cain, dealing herein with his sole
    and separate property	 	O’Brien
    Resources, LLC
	Anderson	 	2270-036	 	2011-06453	 	03/23/2011	 	Jerald
    Lambright and wife Ruth Lambright	 	O’Brien
    Resources, LLC
	Anderson	 	2270-060	 	2011-06459	 	03/29/2011	 	Nolan
    A. Phillips	 	O’Brien
    Resources, LLC
	Anderson	 	2270-0039	 	201106454	 	04/07/2011	 	Bettye
    F. Mackie	 	O’Brien
    Resources, LLC
	Anderson	 	2270-0039	 	201106454	 	04/07/2011	 	Bettye
    F. Mackie	 	O’Brien
    Resources, LLC
	Anderson	 	2270-0043	 	201106455	 	04/20/2011	 	Cary
    S. Cowart et ux	 	O’Brien
    Resources, LLC
	Anderson	 	2270-0064	 	201106460	 	04/15/2011	 	Charmaine
    Denius McGill	 	O’Brien
    Resources, LLC
	Anderson	 	2270-081	 	201106464	 	04/13/2011	 	Susan
    A. Soulsby	 	O’Brien
    Resources, LLC
	Anderson	 	2270-088	 	201106465	 	04/13/2011	 	David
    R. Soulsby	 	O’Brien
    Resources, LLC
	Anderson	 	2270-069	 	201106461	 	06/13/2011	 	Dewey
    Pierce	 	O’Brien
    Resources, LLC
	Anderson	 	2270-073	 	201106462	 	07/01/2011	 	Buford
    R. Hayes et ux	 	O’Brien
    Resources, LLC
	Anderson	 	2270-077	 	201106463	 	07/01/2011	 	Don
    E. Gordon et ux	 	O’Brien
    Resources, LLC
	Anderson	 	2291-755	 	201202469	 	04/15/2011	 	Frank
    Wofford Denius	 	O’Brien
    Resources, LLC
	Anderson	 	2314-0079	 	201206303	 	08/02/2012	 	Carol
    Hall Wood, Indiv and as Ind Executrix
    and Trustee u/w/o Billy Gene Wood,
    Deceased	 	O’Brien
    Resources, LLC
	Anderson	 	2314-0079	 	201206303	 	08/02/2012	 	Carol
    Hall Wood, Indiv and as Ind Executrix and Trustee u/w/o
    Billy Gene Wood,
    Deceased 	 	O’Brien
    Resources, LLC
	Anderson	 	2314-0063	 	201206298	 	08/14/2012	 	Diane
    Dickson	 	O’Brien
    Resources, LLC
	Anderson	 	2272-002	 	201106820	 	08/10/2011	 	Charles
    P. Lewis	 	Energia
    Tejas, LLC
	Anderson	 	2271-797	 	201106816	 	08/04/2011	 	Ira
    Jene Jackson	 	Energia
    Tejas, LLC
	Anderson	 	2271-0800	 	201106818	 	08/04/2011	 	*J.D.
    Black	 	Energia
    Tejas, LLC
	Anderson	 	2518-479	 	201603378	 	04/28/2016	 	James
    C. Hanks, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2518-487	 	201603380	 	04/27/2016	 	Kenneth
    V. Malone as trustee of Mark Ray
    Malone Living Trust	 	O’Brien
    Resources, LLC
	Anderson	 	2272-005	 	201106822	 	03/30/2011	 	Lloyd
    E. Hanks et ux Barbara	 	Energia
    Tejas, LLC
	Anderson	 	2011-00010887	 	2011-0001087	 	04/25/2011	 	Marlene
    Kay Hardy a/k/a Merlene Kay Common	 	O’Brien
    Resources, LLC
	Anderson	 	2518-467	 	201603375	 	05/04/2016	 	Paula
    Barnes	 	O’Brien
    Resources, LLC
	Anderson	 	2515-670	 	201602901	 	04/22/2016	 	Ronald
    Dale Matney	 	O’Brien
    Resources, LLC
	Anderson	 	2271-0799	 	201106817	 	04/11/2011	 	Sonja
    Hanks-Rigsby	 	Energia
    Tejas, LLC
	Anderson	 	2272-0001	 	201106819	 	08/10/2011	 	Sonja
    Lewis Simon	 	Energia
    Tejas, LLC
	Anderson	 	2518-475	 	201603377	 	03/31/2016	 	Timothy
    D. Eyssen	 	O’Brien
    Resources, LLC
	Anderson	 	2318-562	 	201207121	 	09/14/2012	 	Ben
    & Patsy Ruth Johnson Revocable Trust	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2318-559	 	201207120	 	09/07/2012	 	Elizabeth
    Gardner	 	O’Brien
    Resources, LLC
	Anderson	 	2318-556	 	201207119	 	09/06/2012	 	Joe
    B. Gardner	 	O’Brien
    Resources, LLC
	Anderson	 	2318-564	 	2012
    07123	 	09/18/2012	 	*Suzanne
    Corneilus Krause	 	O’Brien
    Resources, LLC
	Anderson	 	2318-563	 	2012
    07122	 	09/21/2012	 	E.
    E. Cornelius, III	 	O’Brien
    Resources, LLC
	Anderson	 	2324-476	 	201208194	 	10/03/2012	 	Flora
    Dell Price, Dorothy McGee AIF	 	O’Brien
    Resources, LLC
	Anderson	 	2332-491	 	201300841	 	11/06/2012	 	Linda
    Hurtado	 	O’Brien
    Resources, LLC
	Anderson	 	2330-774	 	201300510	 	11/07/2012	 	Amy
    Parrish Wischnewsky	 	O’Brien
    Resources, LLC
	Anderson	 	2574-0655	 	201704621	 	02/16/2017	 	Kenneth
    North and Lydia J. North	 	O’Brien
    Resources, LLC
	Anderson	 	2377-534	 	201310156	 	11/07/2012	 	Stephanie
    Parrish	 	O’Brien
    Resources, LLC
	Anderson	 	2337-728	 	201301874	 	11/06/2012	 	Joy
    Anderson	 	O’Brien
    Resources, LLC
	Anderson	 	2377-509	 	201310150	 	03/04/2013	 	Rena
    S. Hemphill Bennett	 	O’Brien
    Resources, LLC
	Anderson	 	2383-584	 	201311493	 	07/01/2013	 	Peggy
    Kirkland, Ind. & as AIF for Norma
    Dell Lambright Hillhouse et al	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2389-507
	 	 

    201312750
	 	 

    10/24/2013
	 	

    Dorothy
    Brooks Steele
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2377-526	 	201310154	 	08/05/2013	 	Betty
    Darsey Woods	 	O’Brien
    Resources, LLC
	Anderson	 	2377-526	 	201310154	 	08/05/2013	 	Betty
    Darsey Woods	 	O’Brien
    Resources, LLC
	Anderson	 	2377-530	 	201310155	 	08/05/2013	 	*W.
    G. Darsey, III	 	O’Brien
    Resources, LLC
	Anderson	 	2383-608	 	201311499	 	09/12/2013	 	Dolores
    A. Haytar	 	O’Brien
    Resources, LLC
	Anderson	 	2383-600	 	201311497	 	09/12/2013	 	Karen
    Sue Kale	 	O’Brien
    Resources, LLC
	Anderson	 	2383-604	 	201311498	 	09/12/2013	 	Sheila
    K. Marshall	 	O’Brien
    Resources, LLC
	Anderson	 	2389-499	 	201312748	 	11/07/2013	 	Libby
    Craft	 	O’Brien
    Resources, LLC
	Anderson	 	2377-517	 	201310152	 	07/11/2013	 	Hugh
    R. Craft	 	O’Brien
    Resources, LLC
	Anderson	 	2383-592	 	201311495	 	10/15/2013	 	Richard
    H. Eaton	 	O’Brien
    Resources, LLC
	Anderson	 	2383-596	 	201311496	 	10/15/2013	 	Robert
    W. Percival	 	O’Brien
    Resources, LLC
	Anderson	 	2383-574	 	201311490	 	10/15/2013	 	Gleith
    James Mann	 	O’Brien
    Resources, LLC
	Anderson	 	2383-578	 	201311491	 	10/15/2013	 	Nathan
    Leslie James	 	O’Brien
    Resources, LLC
	Anderson	 	2383-566	 	201311488	 	10/15/2013	 	Jeffrey
    W. Eaton	 	O’Brien
    Resources, LLC
	Anderson	 	2383-583	 	201311492	 	10/25/2013	 	Terry
    M. Thorn	 	O’Brien
    Resources, LLC
	Anderson	 	2383-570	 	201311489	 	10/24/2013	 	Earl
    Debbs Hillhouse	 	O’Brien
    Resources, LLC
	Anderson	 	2383-565	 	201311487	 	10/25/2013	 	James
    N Parsons III	 	O’Brien
    Resources, LLC
	Anderson	 	2383-588	 	201311494	 	10/24/2013	 	Peggy
    Hillhouse Kirkland	 	O’Brien
    Resources, LLC
	Anderson	 	2389-503	 	201312749	 	11/05/2013	 	Jean
    Brooks AIF for Martha Brooks Adams	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2383-557
	 	 

    201311485
	 	 

    10/15/2013
	 	

    Herschbach
    Petroleum Company, Ltd.
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2389-495	 	201312747	 	11/07/2013	 	David
    Anglin	 	O’Brien
    Resources, LLC
	Anderson	 	2389-511	 	201312751	 	11/22/2013	 	Southwest
    Mineral Group, Ltd.	 	O’Brien
    Resources, LLC
	Anderson	 	2389-618	 	201312773	 	11/12/2013	 	Herschbach
    Living Trust and	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2417-0300
	 	 

    201405943
	 	 

    12/31/2013
	 	Riverwood
    Energy, LLC

    Timothy
    Lunceford
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2396-225	 	201401508	 	01/09/2014	 	Estate
    of T. L. Huddleston by H. T.Hyde,
    Jr. Trustee	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2396-0200
	 	 

    201401501
	 	 

    01/17/2014
	 	

    Jack
    P. Rahm, Trustee of the Jack P.Rahm
    Revocable Trust
	 	 

    O’Brien
    Resources, LLC

	 

    Anderson
	 	 

    2396-0217
	 	 

    201401506
	 	 

    01/16/2014
	 	

    Karen
    Hunnicutt
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2396-0203	 	201401502	 	01/17/2014	 	Rentier
    Inc. by Randall Pogue President	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2396-0205
	 	 

    201401503
	 	 

    01/03/2014
	 	

    Glenn
    Riley Brooks
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2396-221	 	201401507	 	01/14/2014	 	VWP
    Jr, Inc., by Victor W. Pryor, Jr., President	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2396-221
	 	 

    201401507
	 	 

    01/14/2014
	 	

    VWP
    Jr, Inc., by Victor W. Pryor, Jr., President
	 	 

    O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2396-0209	 	201401504	 	01/16/2014	 	Estate
    of Buck J. Wynne, Jr. by Nancy Ann
    Chandler Executrix	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2466-485
	 	 

    201503875
	 	 

    01/16/2014
	 	

    Oscar
    Bruce Chamberlain
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2396-213	 	201401505	 	01/16/2014	 	Holly
    Chamberlain aka Holly Casey	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2502-449
	 	 

    201600814
	 	 

    03/03/2014
	 	 

    *N.
    D. Bingham II
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2417-303	 	201405944	 	02/11/2014	 	Ann
    C. Maroe	 	O’Brien
    Resources, LLC
	Anderson	 	2417-307	 	201405945	 	02/03/2014	 	Betty
    Darsey Woods	 	O’Brien
    Resources, LLC
	Anderson	 	2417-311	 	2014
    05946	 	02/07/2014	 	*W.
    G. Darsey, III	 	O’Brien
    Resources, LLC
	Anderson	 	2417-292	 	201405941	 	03/06/2014	 	Denise
    Scott Trautz	 	O’Brien
    Resources, LLC
	Anderson	 	2417-296	 	201405942	 	02/14/2014	 	Diane
    Scott Jovanovich	 	O’Brien
    Resources, LLC
	Anderson	 	2417-315	 	201405947	 	03/26/2014	 	Adele
    Monning	 	O’Brien
    Resources, LLC
	Anderson	 	2417-320	 	201405948	 	01/03/2014	 	Walter
    C. Windsor	 	O’Brien
    Resources, LLC
	Anderson	 	2434-733	 	201409482	 	08/11/2014	 	Donald
    O. Bennett	 	O’Brien
    Resources, LLC
	Anderson	 	2434-729	 	201409481	 	08/20/2014	 	Jerry
    Ann Henderson	 	O’Brien
    Resources, LLC
	Anderson	 	2434-725	 	201409480	 	08/20/2014	 	Molly
    Henderson Boyd	 	O’Brien
    Resources, LLC
	Anderson	 	2434-721	 	201409479	 	08/20/2014	 	William
    D. Henderson	 	O’Brien
    Resources, LLC
	Anderson	 	2434-734	 	201409483	 	08/20/2014	 	J.
    E. & L. E. Mabee Foundation by Raymond
    L. Tullius Jr. Vice Chairman	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2439-387
	 	 

    201410310
	 	 

    09/03/2014
	 	

    Leigh
    L. Williams
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2439-457	 	201410324	 	08/19/2014	 	Wynne
    West Anderson	 	O’Brien
    Resources, LLC
	Anderson	 	2439-459	 	201410326	 	08/19/2014	 	Waverly
    West. Deceased	 	O’Brien
    Resources, LLC
	Anderson	 	2439-458	 	201410325	 	08/19/2014	 	The
    Catherine Coleman Murchison Ex Tr	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2439-460
	 	 

    201410327
	 	 

    08/19/2014
	 	

    The
    Mark V West Testamentary Tr
	 	 

    O’Brien
    Resources, LLC

	 

    Anderson
	 	 

    2439-461
	 	 

    201410328
	 	 

    08/19/2014
	 	c/o
    Texas Bank & Tr Company

    Shelly
    West Bowman
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2434-717	 	201409478	 	08/18/2014	 	Larry
    C. Henderson	 	O’Brien
    Resources, LLC
	Anderson	 	2439-456	 	201410323	 	08/19/2014	 	Stephanie
    Shawn West Webb, AKA known as Shawn West Webb	 	O’Brien
    Resources, LLC
	Anderson	 	2434-738	 	201409484	 	09/03/2014	 	Maggie
    Nell Youngblood	 	O’Brien
    Resources, LLC
	Anderson	 	2439-453	 	201410322	 	09/03/2014	 	Sharon
    L. Pugh	 	O’Brien
    Resources, LLC
	Anderson	 	2445-765	 	201411518	 	08/21/2014	 	J.T.
    & D.A. Robertson Living Tr	 	O’Brien
    Resources, LLC
	Anderson	 	2439-462	 	201410329	 	10/01/2014	 	M.M.M.
    & S., Ltd.	 	O’Brien
    Resources, LLC
	Anderson	 	2442-771	 	201411521	 	11/04/2014	 	Storey
    Brothers Investments, LLC by Harry
    Storey as President	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2453-636
	 	 

    201501423
	 	 

    11/04/2014
	 	

    Nell
    Oden Jackson
	 	 

    O’Brien
    Resources, LLC

	Anderson

     

    
	 	2453-634

     

    
	 	201501422

     

    
	 	11/04/2014

     

    
	 	The
    Estate of Ray Doss Peeler,Jr., Deceased by Bryan Peeler, Ind Executor

	 	O’Brien
    Resources, LLC

     

    

	Anderson	 	2453-641	 	201501426	 	11/25/2014	 	E.
    B. Larue, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2453-0642	 	201501427	 	11/21/2014	 	R.
    Kirk Cobb c/o Robbins, Tapp Cobb & Assoc
    PLLC	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2453-639
	 	 

    201501425
	 	 

    11/04/2014
	 	

    John
    Charles Storey
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2453-638	 	201501424	 	11/04/2014	 	Frances
    Elise Storey Lincoln	 	O’Brien
    Resources, LLC
	Anderson	 	2453-632	 	201501421	 	11/04/2014	 	Robert
    Gerald Storey III	 	O’Brien
    Resources, LLC
	Anderson	 	2453-0644	 	201501428	 	01/30/2015	 	Karla
    Nelson	 	O’Brien
    Resources, LLC
	Anderson	 	2453-0647	 	201501429	 	01/30/2015	 	Karen
    Belk	 	O’Brien
    Resources, LLC
	Anderson	 	2466-482	 	201503874	 	04/28/2015	 	Robert
    Clifford Louder	 	O’Brien
    Resources, LLC
	Anderson	 	2474-540	 	201505267	 	04/28/2015	 	Leonard
    Ray Louder	 	O’Brien
    Resources, LLC
	Anderson	 	2466-473	 	201503871	 	04/28/2015	 	Richard
    Louder	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2466-476	 	201503872	 	05/08/2015	 	Linda
    Kay Morrison	 	O’Brien
    Resources, LLC
	Anderson	 	2467-735	 	201504141	 	04/28/2015	 	David
    Haywood	 	O’Brien
    Resources, LLC
	Anderson	 	2474-532	 	201505265	 	05/20/2015	 	Karen
    Kale	 	O’Brien
    Resources, LLC
	Anderson	 	2474-580	 	201505280	 	05/20/2015	 	Sheila
    K. Marshall	 	O’Brien
    Resources, LLC
	Anderson	 	2474-576	 	201505279	 	05/22/2015	 	Natalia
    A. Lamas	 	O’Brien
    Resources, LLC
	Anderson	 	2474-544	 	201505268	 	05/20/2015	 	Freda
    Sue Gallatin	 	O’Brien
    Resources, LLC
	Anderson	 	2467-734	 	201504140	 	05/15/2015	 	Katherine
    Wynne, Executrix Buck J. Wynne
    III Estate	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2474-520
	 	 

    201505262
	 	 

    05/28/2015
	 	

    William
    Luther Kale by AIF Elena Kale Glasscock
	 	 

    O’Brien
    Resources, LLC

	 

    Anderson
	 	 

    2474-549
	 	 

    201505269
	 	 

    05/22/2015
	 	

    Cova
    E. Galloway Smither by Murray Smither
    as AIF
	 	 

    O’Brien
    Resources, LLC

	 

    Anderson
	 	 

    2474-516
	 	 

    201505261
	 	 

    05/28/2015
	 	

    Elena
    Kale Glasscock
	 	 

    O’Brien
    Resources, LLC

	Anderson

     

    Anderson
	 	2474-552

     

    2474-572
	 	201505270

     

    201505278
	 	06/29/2015

     

    05/20/2015
	 	Don
    S. Newby, Indiv. & as Ind. Executor of the Estate of Floye M. Newby, deceased

    Dolores
    A. Hayter
	 	O’Brien
    Resources, LLC

     

    O’Brien
    Resources, LLC

	Anderson	 	2474-569	 	201505277	 	05/22/2015	 	Teresa
    Galloway Brown	 	O’Brien
    Resources, LLC
	Anderson	 	2474-527	 	201505264	 	05/20/2015	 	Beth
    C. Burton	 	O’Brien
    Resources, LLC
	Anderson	 	2484-258	 	201506893	 	07/15/2015	 	Bob
    J. Chronister aka Bobby Chronister	 	O’Brien
    Resources, LLC
	Anderson	 	2484-252	 	201506891	 	06/29/2015	 	Rick
    V. Newby	 	O’Brien
    Resources, LLC
	Anderson	 	2484-0262	 	201506895	 	07/15/2015	 	Coy
    Lee Kale, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2486-122	 	201507258	 	06/29/2015	 	Michael
    D. Kale	 	O’Brien
    Resources, LLC
	Anderson	 	2484-260	 	201506894	 	07/15/2015	 	J.
    Todd Kale	 	O’Brien
    Resources, LLC
	Anderson	 	2474-536	 	201505266	 	05/20/2015	 	Mary
    Kathryn Kale Bolt	 	O’Brien
    Resources, LLC
	Anderson	 	2484-264	 	201506896	 	07/21/2015	 	Mary
    Kathryn Johnson	 	O’Brien
    Resources, LLC
	Anderson	 	2484-272	 	201506899	 	07/17/2015	 	Roger
    Dale Cross	 	O’Brien
    Resources, LLC
	Anderson	 	2484-267	 	201506897	 	05/20/2015	 	Terrell
    Lee Selcer	 	O’Brien
    Resources, LLC
	Anderson	 	2484-270	 	201506898	 	07/21/2015	 	Ashley
    Katherine Radford	 	O’Brien
    Resources, LLC
	Anderson	 	2484-285	 	201506905	 	07/17/2015	 	Charles
    R. Fagg	 	O’Brien
    Resources, LLC
	Anderson

     

    
	 	2484-282

     

    
	 	201506904

     

    
	 	08/27/2015

     

    
	 	The
    Estate of Kathleen Mincey by Melinda Hartnett as Successor Dependent Administrator

    
	 	O’Brien
    Resources, LLC

     

    

	Anderson	 	2491-239	 	201508117	 	09/30/2015	 	J&A
    Acquisitions, Inc. by James T.McCain
    III, Mgr	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2491-246
	 	 

    201508119
	 	 

    09/30/2015
	 	

    LDF-ETX,
    Inc. by: Lucas D. Freeman, Mgr
	 	 

    O’Brien
    Resources, LLC

	 

    Anderson
	 	 

    2491-248
	 	 

    201508120
	 	 

    09/30/2015
	 	

    Michael
    Ralph Jenkins, Jr.
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2491-257	 	29150123	 	09/30/2015	 	Arroyo
    Land & Minerals, LLC by: Bailey Fender,
    Mgr	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2491-0250
	 	 

    201508121
	 	 

    09/30/2015
	 	

    Envision
    Land CO., LLC by: Charles C. McCain,
    Mgr.
    
	 	 

    O’Brien
    Resources, LLC

	 

    Anderson
	 	 

    2389-616
	 	 

    201312772
	 	 

    07/25/2013
	 	

    Windsor
    Interests, Ltd.
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2491-0410	 	201508156	 	10/05/2015	 	Charles
    Naubert	 	O’Brien
    Resources, LLC
	Anderson	 	2491-0435	 	201508162	 	10/05/2015	 	Christopher
    B. Naubert	 	O’Brien
    Resources, LLC
	Anderson	 	2491-0414	 	201508157	 	10/05/2015	 	Nancy
    Naubert	 	O’Brien
    Resources, LLC
	Anderson	 	2491-0406	 	201508155	 	10/05/2015	 	Cora
    Hanson	 	O’Brien
    Resources, LLC
	Anderson	 	2491-0439	 	201508163	 	10/05/2015	 	John
    Naubert	 	O’Brien
    Resources, LLC
	Anderson	 	2499-561	 	201600321	 	11/12/2015	 	Peter
    Wesley Williford	 	O’Brien
    Resources, LLC
	Anderson	 	2499-671	 	201600344	 	11/09/2015	 	Melba
    Ruth Davis	 	O’Brien
    Resources, LLC
	Anderson	 	2499-603	 	201600331	 	11/04/2015	 	Jon
    Eric Scudder	 	O’Brien
    Resources, LLC
	Anderson	 	2499-0716	 	201600357	 	11/18/2015	 	Jimmy
    Robert Bearden	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2499-0720	 	201600358	 	11/09/2015	 	Carl
    C. Tidgren	 	O’Brien
    Resources, LLC
	Anderson	 	2499-555	 	201600319	 	11/09/2015	 	William
    Edward Rushing	 	O’Brien
    Resources, LLC
	Anderson	 	2499-552	 	201600318	 	11/09/2015	 	Betty
    Nell Curtis*	 	O’Brien
    Resources, LLC
	Anderson	 	2499-558	 	201600320	 	11/09/2015	 	Harold
    Lewis Rushing*	 	O’Brien
    Resources, LLC
	Anderson	 	2499-522	 	201500310	 	11/09/2015	 	James
    L. Rushing aka J. L. Rushing	 	O’Brien
    Resources, LLC
	Anderson	 	2503-201	 	201600939	 	12/01/2015	 	Final
    Talley, Ltd	 	O’Brien
    Resources, LLC
	Anderson	 	2499-749	 	201600366	 	11/24/2015	 	Stanley
    V. Prickett	 	O’Brien
    Resources, LLC
	Anderson	 	2499-697	 	201600352	 	11/19/2015	 	Michael
    S. Barrett	 	O’Brien
    Resources, LLC
	Anderson	 	2499-729	 	201600361	 	11/19/2015	 	Genevieve
    White Deatherage	 	O’Brien
    Resources, LLC
	Anderson	 	2499-723	 	201600359	 	11/24/2015	 	Larry
    A. Kale	 	O’Brien
    Resources, LLC
	Anderson	 	2499-680	 	201600347	 	11/24/2015	 	George
    E. Prickett	 	O’Brien
    Resources, LLC
	Anderson	 	2499-732	 	201600362	 	11/24/2015	 	Bobby
    Jim Stringer	 	O’Brien
    Resources, LLC
	Anderson	 	2499-735	 	201600363	 	11/19/2015	 	Dennis
    E. Marshall	 	O’Brien
    Resources, LLC
	Anderson	 	2499-726	 	201600360	 	11/24/2015	 	Donna
    S. Ledbetter	 	O’Brien
    Resources, LLC
	Anderson	 	2499-683	 	201600348	 	11/24/2015	 	Norman
    Wayne Stringer	 	O’Brien
    Resources, LLC
	Anderson	 	2499-686	 	201600349	 	12/03/2015	 	Ada
    Willene Ratliff	 	O’Brien
    Resources, LLC
	Anderson	 	2503-330	 	201600979	 	11/24/2015	 	Edwin
    J. Sheek, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2503-0279	 	201600965	 	10/05/2015	 	Richard
    Naubert, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2503-333	 	201600980	 	12/03/2015	 	Nellie
    Sue Webb	 	O’Brien
    Resources, LLC
	Anderson	 	2503-204	 	201600941	 	11/09/2015	 	Charles
    E. Rushing	 	O’Brien
    Resources, LLC
	Anderson	 	2503-228	 	201600949	 	12/03/2015	 	Glenda
    Winters Harkness	 	O’Brien
    Resources, LLC
	Anderson	 	2506-240	 	201601478	 	01/05/2016	 	Gary
    G. Holcomb, his separate property and Murray Holcomb, his separate property	 	O’Brien
    Resources, LLC
	Anderson	 	2503-257	 	201600958	 	12/03/2015	 	Dale
    Winters	 	O’Brien
    Resources, LLC
	Anderson	 	2508-259	 	201601805	 	12/11/2015	 	Tiffany
    Lynn Morris	 	O’Brien
    Resources, LLC
	Anderson	 	2503-263	 	201600960	 	12/03/2015	 	Karon
    Winters Smith	 	O’Brien
    Resources, LLC
	Anderson	 	2503-254	 	201600957	 	12/21/2015	 	Bruce
    S. Kale, III	 	O’Brien
    Resources, LLC
	Anderson	 	2508-270	 	201601808	 	01/12/2016	 	Lester
    Fred Henry	 	O’Brien
    Resources, LLC
	Anderson	 	2508-265	 	201601807	 	01/21/2016	 	Mackilee
    Bennett Martin	 	O’Brien
    Resources, LLC
	Anderson	 	2508-300	 	201601814	 	01/22/2016	 	Bill
    Berry	 	O’Brien
    Resources, LLC
	Anderson	 	2515-780	 	201602927	 	03/21/2016	 	Sidney
    Castleberry	 	O’Brien
    Resources, LLC
	Anderson	 	2508-295	 	201601813	 	01/29/2016	 	*Shirley
    Wade Thomas	 	O’Brien
    Resources, LLC
	Anderson	 	2508-305	 	201601815	 	01/20/2016	 	Myrna
    Beth Coffman	 	O’Brien
    Resources, LLC
	Anderson	 	2508-291	 	201601812	 	02/01/2016	 	Melva
    Jo Shinpaugh FKA Melva Jo Henderson	 	O’Brien
    Resources, LLC
	 

    Anderson
	 	 

    2508-310
	 	 

    201601816
	 	 

    07/15/2015
	 	

    Bettye
    June Chronister
	 	 

    O’Brien
    Resources, LLC

	Anderson	 	2514-777	 	201602741	 	02/03/2016	 	Virginia
    Ruth Sabatini	 	O’Brien
    Resources, LLC
	Anderson	 	2508-318	 	201601817	 	02/03/2016	 	James
    Robert Brummett	 	O’Brien
    Resources, LLC
	Anderson	 	2515-026	 	201602751	 	02/03/2016	 	Sam
    Henderson	 	O’Brien
    Resources, LLC
	Anderson	 	2515-0021	 	201602750	 	02/03/2016	 	Roy
    Ratheal	 	O’Brien
    Resources, LLC
	Anderson	 	2514-782	 	201602742	 	02/03/2016	 	Rita
    Powell	 	O’Brien
    Resources, LLC
	Anderson	 	2515-0006	 	201602747	 	02/03/2016	 	Richard
    Basinger	 	O’Brien
    Resources, LLC
	Anderson	 	2515-031	 	201602752	 	02/03/2016	 	Alan
    B. Cawthon	 	O’Brien
    Resources, LLC
	Anderson	 	2515-011	 	201602748	 	02/03/2016	 	Karen
    H. Lakey	 	O’Brien
    Resources, LLC
	Anderson	 	2514-792	 	201602744	 	01/12/2016	 	Joyce
    A. Easley Pell	 	O’Brien
    Resources, LLC
	Anderson	 	2514-797	 	201602745	 	02/03/2016	 	John
    Davidson Brummett	 	O’Brien
    Resources, LLC
	Anderson	 	2522=675	 	201604029	 	05/23/2016	 	Barbara
    Tucker	 	O’Brien
    Resources, LLC
	Anderson	 	2514-787	 	201602743	 	02/03/2016	 	Dortha
    Berry	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2515-001	 	201602746	 	02/03/2016	 	Donald
    Martin Henderson	 	O’Brien
    Resources, LLC
	Anderson	 	2492-0578	 	201508319	 	11/12/2015	 	Robert
    D. Johnston, Receiver Cause No. DCCV15-177-87,Frances Kale Peterson & Unknown Heirs et al  	 	O’Brien
    Resources, LLC
	Anderson	 	2492-0572	 	201508318	 	11/06/2015	 	Robert
    D. Johnston, Receiver Cause No. DCCV15-177-87,Frances Kale Peterson
    et al 	 	O’Brien
    Resources, LLC
	Anderson	 	2502-0043	 	201600726	 	11/06/2015	 	Robert
    D. Johnston Receiver for Cause NO. DCCV15-176-3 Unknown
    Heirs of Berniece H. Hughes Walker et al  	 	O’Brien
    Resources, LLC
	Anderson	 	2514-770	 	201602739	 	12/11/2015	 	Kerby
    L. Kale	 	O’Brien
    Resources, LLC
	Anderson	 	2514-774	 	201602740	 	01/20/2016	 	Don
    Wayne Kale	 	O’Brien
    Resources, LLC
	Anderson	 	2515-036	 	201602753	 	01/22/2016	 	Melissa
    J. Bond Barenthsen	 	O’Brien
    Resources, LLC
	Anderson	 	2515-723	 	201602916	 	01/12/2016	 	Barbara
    Jean Wade Ratliff	 	O’Brien
    Resources, LLC
	Anderson	 	2515-750	 	201602921	 	02/03/2016	 	Barbara
    Bogart	 	O’Brien
    Resources, LLC
	Anderson	 	2515-734	 	201602918	 	02/05/2016	 	Erica
    Ann Steele Adams	 	O’Brien
    Resources, LLC
	Anderson	 	2515-729	 	201602917	 	01/29/2016	 	Lennie
    Susan Flippen	 	O’Brien
    Resources, LLC
	Anderson	 	2515-739	 	201602919	 	02/17/2016	 	Sandra
    Brown	 	O’Brien
    Resources, LLC
	Anderson	 	2515-755	 	201602922	 	02/17/2016	 	Ronald
    Allen Sikes, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2515-770	 	201602925	 	02/03/2016	 	Hayden
    P. Mitchell	 	O’Brien
    Resources, LLC
	Anderson	 	2515-775	 	201602926	 	02/05/2016	 	Joan
    Ann Armstrong Glass	 	O’Brien
    Resources, LLC
	Anderson	 	2513-0168	 	201602445	 	07/01/2013	 	Peggy
    Kirkland, Earl Debbs Hillhouse, and
    Deany Melton	 	O’Brien
    Resources, LLC
	Anderson	 	2529-470	 	201605174	 	03/31/2016	 	Black
    Stone Minerals Company, LP	 	O’Brien
    Resources, LLC
	Anderson	 	2515-666	 	201602900	 	04/22/2016	 	Randal
    Glen Matney	 	O’Brien
    Resources, LLC
	Anderson	 	2515-016	 	201602749	 	02/03/2016	 	Orville
    Charles Easley, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2515-683	 	201602905	 	04/28/2016	 	Kathy
    Link	 	O’Brien
    Resources, LLC
	Anderson	 	2518-406	 	201603359	 	01/14/2016	 	Ronnie
    Gene Crow	 	O’Brien
    Resources, LLC
	Anderson	 	2518-463	 	201603374	 	05/04/2016	 	Nedra
    Jean Skiles	 	O’Brien
    Resources, LLC
	Anderson	 	2518-471	 	201603376	 	04/06/2016	 	Debby
    Henderson	 	O’Brien
    Resources, LLC
	Anderson	 	2515-705	 	201602911	 	03/21/2016	 	Richard
    E. Swift II	 	O’Brien
    Resources, LLC
	Anderson	 	2518-498	 	201603383	 	05/03/2016	 	Nancy
    Ann Crecelius McCall	 	O’Brien
    Resources, LLC
	Anderson	 	2518-494	 	201603382	 	05/06/2016	 	Robert
    J. Tidgren	 	O’Brien
    Resources, LLC
	Anderson	 	2518-491	 	201603381	 	05/04/2016	 	Sharron
    Perez	 	O’Brien
    Resources, LLC
	Anderson	 	2518-521	 	201603390	 	05/03/2016	 	Leonard
    Keith Baker	 	O’Brien
    Resources, LLC
	Anderson	 	2518-502	 	201603384	 	04/28/2016	 	Katie
    Jeanette Price Pierce	 	O’Brien
    Resources, LLC
	Anderson	 	2518-511	 	201603387	 	04/28/2016	 	James
    Harland Price	 	O’Brien
    Resources, LLC
	Anderson	 	2518-514	 	201603388	 	04/28/2016	 	Charles
    L. Price	 	O’Brien
    Resources, LLC
	Anderson	 	2518-517	 	201603389	 	05/04/2016	 	Amanda
    DeShazo aka Amanda Grubbs	 	O’Brien
    Resources, LLC
	Anderson	 	2518-505	 	201603385	 	05/04/2016	 	Donna
    McEwen	 	O’Brien
    Resources, LLC
	Anderson	 	2518-416	 	201603361	 	05/06/2016	 	Tommy
    Everett	 	O’Brien
    Resources, LLC
	Anderson	 	2518-419	 	201603362	 	05/23/2016	 	James
    Harland Price	 	O’Brien
    Resources, LLC
	Anderson	 	2518-422	 	201603363	 	05/04/2016	 	Gary
    Wayne Crecelius	 	O’Brien
    Resources, LLC
	Anderson	 	2518-426	 	201603364	 	05/23/2016	 	Gary
    Wayne Crecelius	 	O’Brien
    Resources, LLC
	Anderson	 	2518-4302	 	201603365	 	05/23/2016	 	Debby
    L. Henderson	 	O’Brien
    Resources, LLC
	Anderson	 	2518-433	 	201603366	 	05/23/2016	 	Charles
    L. Price	 	O’Brien
    Resources, LLC
	Anderson	 	2518-436	 	201603367	 	05/23/2016	 	Brenda
    Nipper (Cole)	 	O’Brien
    Resources, LLC
	Anderson	 	2518-452	 	201603371	 	11/04/2015	 	Barbara
    Vick	 	O’Brien
    Resources, LLC
	Anderson	 	2518-445	 	201603369	 	05/04/2016	 	Barbara
    Tucker	 	O’Brien
    Resources, LLC
	Anderson	 	2518-412	 	201603360	 	05/23/2016	 	Tommy
    Everett	 	O’Brien
    Resources, LLC
	Anderson	 	2518-508	 	201603386	 	05/04/2016	 	Judy
    Harwick	 	O’Brien
    Resources, LLC
	Anderson	 	2522-718	 	201604042	 	05/06/2016	 	Mary
    Kathryn Pickle	 	O’Brien
    Resources, LLC
	Anderson	 	2522-683	 	201604032	 	05/23/2016	 	Judy
    Harwick	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2522-690	 	201604034	 	05/04/2016	 	Roy
    Eggleston	 	O’Brien
    Resources, LLC
	Anderson	 	2522-687	 	201604033	 	05/23/2016	 	Roy
    Eggleston	 	O’Brien
    Resources, LLC
	Anderson	 	2522-701	 	201604037	 	05/23/2016	 	Rhonda
    G. Garcia	 	O’Brien
    Resources, LLC
	Anderson	 	2522-705	 	201604038	 	05/04/2016	 	Rhonda
    G. Garcia	 	O’Brien
    Resources, LLC
	Anderson	 	2522-712	 	201604040	 	05/23/2016	 	Pamela
    Jane Shilling fka Stafford	 	O’Brien
    Resources, LLC
	Anderson	 	2522-697	 	s201604036	 	05/23/2016	 	Nancy
    Ann Crecelius McCall	 	O’Brien
    Resources, LLC
	Anderson	 	2522-693	 	201604035	 	05/23/2016	 	Kathy
    Link	 	O’Brien
    Resources, LLC
	Anderson	 	2522-678	 	201604030	 	05/20/2016	 	Premier
    LM III, LP	 	O’Brien
    Resources, LLC
	Anderson	 	2522-708	 	201604039	 	05/23/2016	 	Donna
    McEwen	 	O’Brien
    Resources, LLC
	Anderson	 	2522-676	 	201604027	 	05/04/2016	 	Jo
    Ann Meeks Delano aka Dean	 	O’Brien
    Resources, LLC
	Anderson	 	2522-671	 	201604028	 	05/23/2016	 	Jo
    Ann Meeks Delano aka Dean	 	O’Brien
    Resources, LLC
	Anderson	 	2522-680	 	201604031	 	05/23/2016	 	Wanda
    Stafford Monk	 	O’Brien
    Resources, LLC
	Anderson	 	2530-751	 	201605413	 	05/23/2016	 	Katie
    Jeanette Price Pierce	 	O’Brien
    Resources, LLC
	Anderson	 	2530-754	 	201605414	 	06/13/2016	 	Marshall
    D. Brown, Jr.	 	O’Brien
    Resources, LLC
	Anderson	 	2530-744	 	201605411	 	05/23/2016	 	Robert
    J. Tidgren	 	O’Brien
    Resources, LLC
	Anderson	 	2530-741	 	201605410	 	05/23/2016	 	Leonard
    Keith Baker	 	O’Brien
    Resources, LLC
	Anderson	 	2530-747	 	201605412	 	05/23/2016	 	Amanda
    DeShazo aka Amanda Grubbs	 	O’Brien
    Resources, LLC
	Anderson	 	2530-737	 	201605409	 	07/01/2016	 	Stephen
    T. Stafford	 	O’Brien
    Resources, LLC
	Anderson	 	2530-707	 	201605400	 	06/23/2016	 	Norma
    Smith	 	O’Brien
    Resources, LLC
	Anderson	 	2530-705	 	201605399	 	05/04/2016	 	Brenda
    Kay Pickle Nipper (Cole)	 	O’Brien
    Resources, LLC
	Anderson	 	2530-720	 	201605404	 	04/28/2016	 	Sherwin
    Hutchins	 	O’Brien
    Resources, LLC
	Anderson	 	2530-717	 	201605403	 	05/23/2016	 	Sharron
    Perez	 	O’Brien
    Resources, LLC
	Anderson	 	2530-713	 	201605402	 	07/18/2016	 	Margie
    Louder Ireton Griffin	 	O’Brien
    Resources, LLC
	Anderson	 	2551-0260	 	201700588	 	07/25/2016	 	S
    & L Energy Company, LLC	 	O’Brien
    Resources, LLC
	Anderson	 	2539-0494	 	201606792	 	07/26/2016	 	Peggy
    Allbright	 	O’Brien
    Resources, LLC
	Anderson	 	2530-707	 	201605400	 	06/23/2016	 	Betty
    Nix Aaron f/k/a Betty Cozette Carroll	 	O’Brien
    Resources, LLC
	Anderson	 	2530-730	 	2016-05407	 	07/15/2016	 	Johnny
    E. Walker and Jo Walker	 	O’Brien
    Resources, LLC
	Anderson	 	2016-00007978	 	2016-00007978	 	05/19/2016	 	Robert
    D. Johnston County Judge, Anderson County,Texas acting in
    his capacity as Receiver for Mineral Interests
    appointed by the 369th Judicial
    Dictrict Court of Anderson County , TX in Cause No. DCCV16-093-369  	 	O’Brien
    Resources, LLC
	Anderson	 	2539-0512	 	201606797	 	08/23/2016	 	Karen
    E. Clark	 	O’Brien
    Resources, LLC
	Anderson	 	2539-0517	 	201606798	 	05/23/2016	 	*Rodney
    Eggleston	 	O’Brien
    Resources, LLC
	Anderson	 	2539-0521	 	201606799	 	05/04/2016	 	*Rodney
    Eggleston	 	O’Brien
    Resources, LLC
	Anderson	 	2551-0210	 	201700569	 	09/19/2016	 	Milton
    Ferrell Holcomb*	 	O’Brien
    Resources, LLC
	Anderson	 	2551-0226	 	201700574	 	09/27/2016	 	Dorthea
    Eyssen Testamentary Tr by Christopher W. Burkhart 	 	O’Brien
    Resources, LLC
	 	 	 	 	 	 	 	 	 	 
	Anderson	 	2551-0272	 	201700592	 	09/20/2016	 	Ashley
    Marie Rossi	 	O’Brien
    Resources, LLC
	Anderson	 	2551-0266	 	201700590	 	09/19/2016	 	Jennifer
    Holcomb DiMaggio	 	O’
    Brien Resources, LLC
	Anderson	 	2551-0263	 	201700589	 	09/19/2016	 	Michael
    Travis Holcomb	 	O’
    Brien Resources, LLC
	Anderson	 	2017-00006561	 	2017-00006561	 	02/17/2016	 	Betty
    Rhea Wade Fluegge	 	O’Brien
    Resources, LLC
	Anderson	 	2536-0514	 	201606364	 	10/06/2016	 	Robert
    D. Johnston County Judge, Anderson County,Texas acting in
    his capacity as Receiver for Mineral Interests
    appointed by the 349th Judicial
    Dictrict Court of Anderson County,
    TX in Cause No. DCCV16-329-349 for the W.M. Brown Unknown Heirs  
    	 	O’Brien
    Resources, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2533-0492	 	201605879	 	09/16/2016	 	Robert
    D. Johnston, Receiver for Mineral Interests Cause No.
    DCCV16-323-349. Unknown Heirs of Travis Wiliams,
    Kenneth Williams and Lana Chatam   	 	O’Brien
    Resources, LLC
	Anderson	 	2527-0480	 	201604832	 	08/03/2016	 	Robert
    D. Johnston, Receiver for Mineral Interests Cause No.
    DCCV16-207-369. Unknown Heirs of Clifton Johnson
    and Ruth Johnson  	 	O’Brien
    Resources, LLC
	Anderson	 	2519-0142	 	201603469	 	05/19/2016	 	Robert
    D. Johnston, Receiver for Mineral Interests Cause No.
    DCCV16-092-369. Unknown Heirs of Angie Kale Hughes,
    Laura Leone Higgins, Tina Joyce Sherley, Velma Clara
    Higgins Guthrie, William H. Higgins, Laura Rhea Winters
    Powers    	 	O’Brien
    Resources, LLC
	Anderson	 	2357-0576	 	201305666	 	11/11/2012	 	Barbara
    G. Ackeret	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0582	 	201305668	 	11/11/2012	 	Ella
    Marie Albers	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0601	 	201305675	 	11/11/2012	 	Brittney
    M. Bann	 	Beaufort
    Operating, LLC
	Anderson	 	2338-0461	 	201302021	 	08/22/2012	 	Linda
    Davis Barnes	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0573	 	201305665	 	11/01/2012	 	Sarah
    Louder Barnes	 	Beaufort
    Operating, LLC
	Anderson	 	2338-0538	 	201302055	 	08/21/2012	 	Citizen
    National Bank, Successor Trustee of the Henry Ford Davis
    Trust, U/W/O Kathryn Milner Davis  	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0429	 	201308933	 	11/11/2012	 	Damon
    Douglas	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0589	 	201305671	 	11/11/2012	 	Jeanna
    L. France	 	Beaufort
    Operating, LLC
	Anderson	 	2338-0531	 	201302051	 	06/10/2012	 	John
    M. Harrison III and Mary S.Harrison
    Trustees of the Harrison Family Trust 	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0604	 	201305676	 	11/11/2012	 	Brice
    E. Hedlund	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0422	 	201308931	 	08/13/2012	 	Fayrene
    Hillhouse	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0420	 	201308930	 	11/14/2012	 	Fayrene
    Hillhouse	 	Beaufort
    Operating, LLC
	Anderson	 	2422-0513	 	201407109	 	11/14/2012	 	Joleene
    Kale Hutchens	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0607	 	201305677	 	11/01/2012	 	Linda
    Louder Huckaby	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0598	 	201305674	 	11/01/2012	 	Elsie
    Kale	 	Beaufort
    Operating, LLC
	Anderson	 	2515-691	 	201602907	 	04/14/2016	 	Florence
    L. Kale	 	O’Brien
    Resources, LLC
	Anderson	 	2469-280	 	0018587	 	07/06/2004	 	Debbie
    Lambright	 	Eiche,
    Mapes and Company,
	 	 	 	 	 	 	 	 	 	 	Inc.
	Anderson	 	2568-758	 	0015366	 	08/16/2005	 	Debbie
    Lambright	 	Eiche,
    Mapes and Company,
	 	 	 	 	 	 	 	 	 	 	Inc.
	Anderson	 	2338-0529	 	201302050	 	07/23/2012	 	Lenell
    Lambright and Bradley Scott Lambright	 	Beaufort
    Operating, LLC
	Anderson	 	2469-283	 	0018588	 	06/25/2004	 	Leslie
    Lambright	 	Eiche,
    Mapes and Company,
	 	 	 	 	 	 	 	 	 	 	Inc.
	Anderson	 	2357-0570	 	201305664	 	11/01/2012	 	B.G.
    Lewis	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0567	 	201305663	 	11/01/2012	 	Richard
    L. Lewis	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0427	 	201308932	 	11/11/2012	 	Doris
    Mallory	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0383	 	201308921	 	08/13/2012	 	Wayne
    Mitchell	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0595	 	201305673	 	11/11/2012	 	James
    E. Morris	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0585	 	201305669	 	11/11/2012	 	Retha
    J. Nelson	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0579	 	201305667	 	11/11/2012	 	Sharon
    K. Olson	 	Beaufort
    Operating, LLC
	Anderson	 	2371-393	 	201308924	 	08/07/2012	 	Robert
    W. Percival	 	Beaufort
    Operating, LLC
	Anderson	 	2338-0535	 	201302053	 	01/31/2012	 	Charles
    Lesley Price	 	Beaufort
    Operating, LLC

 

    	 

    	 

    

 

EXHIBIT
A-1 (Leases)

 

to
that Purchase and Sale Agreement dated June 29, 2022 between ETXENERGY, LLC and U.S. Energy Corp.

 

	 	 	BOOK
    PAGE	 	REGISTRY
    #	 	DATE	 	 	 	 
	COUNTY	 	INSTR	 	INSTR	 	INSTR	 	LESSOR	 	LESSEE
	Anderson	 	2357-0588	 	201305670	 	12/12/2012	 	Sloan
    Shuffler, et vir and Clifton	 	Beaufort
    Operating, LLC
	 	 	 	 	 	 	 	 	Edward
    New	 	 
	Anderson	 	2469-286	 	0018589	 	06/23/2004	 	Evelyn
    Giles Sims	 	Eiche,
    Mapes and Company,
	 	 	 	 	 	 	 	 	 	 	Inc.
	Anderson	 	2338-0540	 	201302056	 	06/11/2012	 	Jane
    H. Spence and Perry L. Spence Family
    Trust	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0405	 	201308927	 	08/13/2012	 	Irene
    Stafford	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0410	 	201308928	 	11/14/2012	 	Irene
    Stafford	 	Beaufort
    Operating, LLC
	Anderson	 	2466-490	 	201503876	 	11/05/2012	 	Dorothy
    Kale Terry	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0389	 	201308923	 	11/05/2012	 	Steven
    Terry, Ind. & as Exec. of the Estate
    of Shige Kale, Dec’d	 	Beaufort
    Operating, LLC
	Anderson	 	2371-0397	 	201308925	 	08/03/2012	 	Kyle
    S. Turner and wife, Kimberly	 	Beaufort
    Operating, LLC
	 	 	 	 	 	 	 	 	Turner	 	 
	Anderson	 	2371-0401	 	201308926	 	08/13/2012	 	Jerry
    Mitchell Wilbanks	 	Beaufort
    Operating, LLC
	Anderson	 	2357-0610	 	201305678	 	11/20/2012	 	Dan
    R. Murchison	 	Beaufort
    Operating, LLC
	Anderson	 	2371-387	 	201308922	 	11/20/2012	 	James
    A. Murchison, Sr.	 	Beaufort
    Operating, LLC
	Anderson	 	 	 	2021-6319	 	 	 	Elward
    Worley, et al	 	Brown,
    Godwin & Company, LLC
	Anderson	 	 	 	2021-6320	 	 	 	Gerard
    H. Clements and wife, Pamela Clements	 	Brown,
    Godwin & Company,
	Anderson	 	 	 	2021-6321	 	 	 	Gardner
    S. Thornton Exempt Trust	 	Brown,
    Godwin & Company, LLC
	Anderson	 	 	 	2021-6322	 	 	 	Pete
    K. Thornton Exempt Trust	 	Brown,
    Godwin & Company, LLC
	Anderson	 	 	 	2021-6323	 	 	 	Donald
    W. Langston	 	Brown,
    Godwin & Company, LLC

 

    	 

    	 

    

 

EXHIBIT
B (Wells)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

	County	 	API
    No.	 	Well
    Name	 	Working

    Interest
	 	Net
    Revenue Interest
	HENDERSON	 	42-213-31087	 	AF
    Hogg #1H	 	0.88394814
    	 	0.72143881
    
	HENDERSON	 	42-213-31089	 	Beecher-Cox
    #2H	 	0.39813265
    	 	0.29859948
    
	HENDERSON	 	42-213-31078	 	Bywaters
    #1H	 	0.96795892
    	 	0.78395048
    
	HENDERSON	 	42-213-31093	 	Bywaters
    #2H	 	0.97468284
    	 	0.79197809
    
	HENDERSON	 	42-213-30890	 	Catfish
    Creek #1	 	0.99757783
    	 	0.83066113
    
	HENDERSON	 	42-213-30946	 	Catfish
    Creek #2	 	0.99760159
    	 	0.82389304
    
	HENDERSON	 	42-213-30975	 	Catfish
    Creek A #3	 	0.99779530
    	 	0.79727801
    
	HENDERSON	 	42-213-31103	 	Catfish-Mine
    Unit #1	 	0.97768007
    	 	0.83590870
    
	HENDERSON	 	42-213-30483	 	Catfish
    Ranch	 	   -
    	 	0.00238095
    
	HENDERSON	 	42-213-31098	 	Crombie
    #1H	 	0.93933950
    	 	0.76118011
    
	HENDERSON	 	42-213-31049	 	FDIC
    #1H	 	0.97617375
    	 	0.79681778
    
	HENDERSON	 	42-213-31047	 	Hillhouse
    #1	 	0.93319300
    	 	0.73510084
    
	HENDERSON	 	42-213-31056	 	Holley
    Lake #1H	 	0.93467499
    	 	0.72634211
    
	HENDERSON	 	42-213-31102	 	Holliday
    #1H	 	0.45313265
    	 	0.36572937
    
	HENDERSON	 	42-213-31075	 	Jernigan
    #1H	 	0.95175923
    	 	0.75612014
    
	HENDERSON	 	42-213-31083	 	Joyce
    #1H	 	0.98511257
    	 	0.78465715
    
	HENDERSON	 	42-213-31048	 	Knepple
    #1H	 	0.92715358
    	 	0.76952249
    
	HENDERSON	 	42-213-31060	 	Lambright
    Heirs #1H	 	0.93451120
    	 	0.72799562
    
	HENDERSON	 	42-213-31097	 	Lambright
    Heirs #2H	 	0.97750073
    	 	0.76116989
    
	HENDERSON	 	42-213-31065	 	Larue
    #1H	 	0.95842481
    	 	0.80089238
    
	HENDERSON	 	42-213-31085	 	McCutchin
    #1H	 	0.96611866
    	 	0.76876028
    
	HENDERSON	 	42-001-32760	 	Newland,
    J.A. #1H	 	0.99785473
    	 	0.80659664
    
	HENDERSON	 	42-213-31052	 	Palmer
    #1H	 	0.97182546
    	 	0.77236389
    
	HENDERSON	 	42-213-31054	 	Pearcy-Prescott
    #1H	 	0.96527221
    	 	0.76346352
    
	HENDERSON	 	42-213-31061	 	Pharris
    #1H	 	0.98640278
    	 	0.77474382
    
	HENDERSON	 	42-213-31067	 	Radetzky
    #1H	 	0.95847094
    	 	0.77208847
    
	HENDERSON	 	42-213-31091	 	Reynolds,
    J. #1H	 	0.97383307
    	 	0.79266069
    
	HENDERSON	 	42-213-31086	 	Rosenberg
    #1H	 	0.97464512
    	 	0.78312337
    
	HENDERSON	 	42-213-31071	 	Scapegoat
    #1H	 	0.99765094
    	 	0.84464757
    
	HENDERSON	 	42-213-31082	 	Teselle
    #1H	 	0.94931951
    	 	0.75104069
    
	HENDERSON	 	42-213-31101	 	Tiner
    Lake #1 SWD	 	0.45313265
    	 	0.45313265
    
	HENDERSON	 	42-213-31044	 	Triton
    Land #1	 	0.94118901
    	 	0.72579880
    
	HENDERSON	 	42-213-31084	 	Woodall
    #1H	 	0.95002669
    	 	0.75021553
    
	HENDERSON	 	42-213-31092	 	Woodall
    #2H	 	0.95133384
    	 	0.75341307
    
	ANDERSON	 	42-213-31090	 	Cummings
    #1H	 	0.97447412
    	 	0.80372378
    
	ANDERSON	 	42-001-32769	 	Glad
    Oaks #1H	 	1.00000000
    	 	0.77024948
    
	ANDERSON	 	42-001-32735	 	Lambright,
    Jerald #1 SWD	 	0.95374883
    	 	0.95374883
    
	ANDERSON	 	42-001-32764	 	Superior
    #1H	 	1.00000000
    	 	0.79525744
    
	ANDERSON	 	42-001-32775	 	Vannoy
    #1H	 	1.00000000
    	 	0.82715723
    
	ANDERSON	 	42-001-32768	 	Wolf
    Creek #1H	 	1.00000000
    	 	0.77386471
    

 

    	 

     

    

 

 

EXHIBIT
D (Form of Assignment and Bill of Sale)

to
that Purchase and Sale Agreement dated June 29, 2022

between
ETXENERGY, LLC and U.S. Energy Corp.

 

NOTICE
OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT
THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR
DRIVER’S LICENSE NUMBER.

 

ASSIGNMENT,
BILL OF SALE AND CONVEYANCE

 

	THE
    STATE OF TEXAS	§	 
	 	§	 
	COUNTIES
    OF __________________	§	 

 

THIS
ASSIGNMENT, BILL OF SALE AND CONVEYANCE (this “Assignment”), effective as of 11:59:59 p.m. (Dallas time) on June
30, 2022 (the “Effective Time”), is by and ETXENERGY, LLC, a Texas Limited Liability Company (“Assignor”),
and U.S. Energy Corp., a Wyoming Corporation (“Assignee”). Assignor and Assignee are sometimes referred to collectively
herein as the “Parties” and individually as a “Party”.

 

WHEREAS,
Assignor and Assignee entered into that certain Purchase and Sale Agreement dated June 29, 2022 (the “PSA”), providing
for the sale by Assignor of, and the purchase by Assignee of, the Assets (as such term is defined below), and the terms and provisions
of the PSA shall not be deemed to have merged herein. In the event that any provision of this Assignment is construed to conflict with
any provision of the PSA, the provisions of the PSA shall be deemed controlling to the extent of such conflict;

 

WHEREAS,
references herein to terms which are defined separately herein or in the PSA shall have the meaning prescribed to such term herein or
in the PSA, as applicable, even if the term (as printed in this Assignment) is printed in ALL CAPITALIZED text, in each case, unless
the context expressly requires otherwise; and

 

NOW,
THEREFORE, in consideration of the premises, the mutual promises herein made, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

    	 

     

    

 

Article
1

ASSIGNMENT

 

1.1
Assignment.

 

(a)
For and in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Assignor does hereby GRANT, BARGAIN, SELL, CONVEY, ASSIGN, TRANSFER, SET OVER AND DELIVER unto to Assignee all of
the Assets.

 

(b)
The “Assets” is all right, title and interest of Assignor in, to and under the following, but LESS AND EXCEPT the Excluded
Assets:

 

(i)
the oil and gas leases described in Exhibit A-1 (the “Leases”) and all rights incident thereto and derived therefrom,
including overriding royalty interests, net profits interests, and other revenue interests therein, to the extent and only to the extent
relating to such lands described in Exhibit A-2 (the “Lands”), along with any reversionary interests or contractual
rights which may be exercised in and to the same.

 

(ii)
the wells described in Exhibit B and all other wells (including all disposal or injection wells) located on any of the Leases or on any
other lease or lands with which any Lease has been unitized, whether such wells are producing, shut-in or abandoned (the “Wells”)

 

(iii)
all rights and interests in, under or derived from all unitization or pooling agreements in effect with respect to any of the Leases
or Wells and the units created thereby (the “Units”);

 

(iv)
all Rights-of-Way that are used in connection with the ownership or operation of any of the Leases, Wells, Units or other Assets,
including the Rights-of-Way set forth in Exhibit A-3;

 

(v)
all equipment, machinery, fixtures and other personal and mixed property, operational and nonoperational, known or unknown, located on
any of the Leases, Wells, Units or other Assets, that are primarily used or held for use in connection with the ownership, operation
or development of the Leases, Well, Units or other Assets, including the inventory set forth on Schedule 2.2(e) to the PSA, and pipelines,
gathering systems, well equipment, casing, tubing, pumps, motors, fixtures, machinery, compression equipment, flow lines, processing
and separation facilities, structures, materials and other items primarily used in the ownership, operation or development of the Leases,
Wells, Units or other Assets;

 

(vi)
to the extent that they may be assigned, all Permits that are primarily used in connection with the ownership or operation of the other
Assets;

 

(vii)
to the extent they may be assigned, the Existing Contracts; and

 

(viii)
all Hydrocarbons attributable to the Leases, Wells and/or Units to the extent such Hydrocarbons were produced from and after the Effective
Time and all Imbalances relating to the Assets.

 

    	 

     

    

 

1.2
Excluded Assets. Notwithstanding the foregoing, the Assets shall not include, and there is expected, reserved and excluded from
the transaction contemplated hereby the following (collectively, the “Excluded Assets”):

 

(i)
all of Assignor’s corporate minute books, financial records and other business records that relate to Assignor’s business
generally (including the ownership and operation of the Assets);

 

(ii)
all accounts, trade credits, accounts receivable, and all other proceeds, income or revenues attributable to the Assets with respect
to any period of time prior to the Effective Time;

 

(iii)
all claims and causes of action, manufacturer’s and contractor’s warranties and other rights of Assignor arising under or
with respect to any Existing Contracts that are attributable to periods of time prior to the Effective Time (including claims for adjustments
or refunds), except to the extent any of the foregoing relates to any of the Assumed Obligations or equipment and machinery which is
part of the Assets;

 

(iv)
all rights and interests of Assignor (i) under any policy or agreement of insurance, (ii) under any bond, or (iii) to any insurance or
condemnation proceeds or awards arising with respect to any period of time prior to the Effective Time;

 

(v)
all Hydrocarbons produced and sold from the Assets with respect to all periods prior to the Effective Time;

 

(vi)
any claim, right or interest of Assignor in or to any refunds or loss carry forwards, together with any interest due thereon or penalty
rebate arising therefrom, with respect to (i) any and all taxes based on net income imposed on Assignor or any of its Affiliates with
respect to any period of time prior to the Effective Time, (ii) any Property Taxes allocable to Assignor pursuant to Section 13.1 of
the PSA or (iii) any Property Taxes attributable to the Excluded Assets;

 

(vii)
all personal computers and associated peripherals and all radio and telephone equipment;

 

(viii)
all documents and instruments of Assignor that may be protected by an attorney client or other privilege;

 

(ix)
all data that cannot be disclosed to ASSIGNEE as a result of confidentiality arrangements under agreements with third parties (provided
that Assignor has used its commercially reasonable efforts to cause such confidentiality restrictions to be waived);

 

(x)
all audit rights arising under any of the Existing Contracts or otherwise with respect to any period prior to the Effective Time or to
any of the Excluded Assets, except with respect to any Imbalances;

 

(xi)
all geophysical and other seismic and related technical data and information relating to the Assets;

 

    	 

     

    

 

(xii)
documents prepared or received by Assignor or its Affiliates with respect to (i) lists of prospective assignees for such transactions
compiled by Assignor or its Affiliates or their respective representatives, (ii) offers submitted by other prospective assignees of the
Assets, (iii) analyses by Assignor or its Affiliates or any of their respective representatives of any offers submitted by any prospective
assignee, (iv) correspondence between or among Assignor or its Affiliates or any of their respective representatives, on the one hand,
and any prospective assignee other than Assignee, on the other hand, and (v) correspondence among Assignor or its Affiliates or any of
their respective representatives with respect to any other offers, the prospective assignees, or the transactions contemplated by this
Agreement;

 

(xiii)
any offices, office leases, and any personal property located in or on such offices or office leases;

 

(xiv)
concurrent rights to use all Rights-of-Way but only to the extent Assignor or any of its Affiliates currently uses such Rights-of-Way
in connection with its use, ownership or operation of assets other than the Assets;

 

(xv)
any master service agreements, blanket agreements or similar contracts; and

 

(xvi)
the equipment set forth on Schedule 2.3(p) to the PSA.

 

TO
HAVE AND TO HOLD the Assets unto Assignee, its successors and assigns, subject to those matters set forth in this Assignment and the
PSA.

 

Article
2

ADDITIONAL MATTERS

 

2.1
Special Warranty of Title. Subject to the terms of the PSA, Assignor warrants and agrees to defend Defensible Title to the Wells
by, through or under ASSIGNOR but not otherwise, subject, however, to the Permitted Encumbrances.

 

    	 

     

    

 

2.2
Disclaimers. ASSIGNEE ACKNOWLEDGES AND AGREES THAT, SUBJECT TO THE TERMS OF THE PSA, ASSIGNEE SHALL ACQUIRE THE ASSETS IN AN “AS
IS, WHERE IS” CONDITION AND SHALL ASSUME ALL RISKS THAT THE ASSETS MAY CONTAIN WASTE MATERIALS (WHETHER TOXIC, HAZARDOUS, EXTREMELY
HAZARDOUS OR OTHERWISE) OR OTHER ADVERSE PHYSICAL CONDITIONS, INCLUDING THE PRESENCE OF UNKNOWN ABANDONED WELLS, PUMPS, PITS, PIPELINES
OR OTHER WASTE OR SPILL SITES WHICH MAY NOT HAVE BEEN REVEALED BY ASSIGNEE’S ENVIRONMENTAL ASSESSMENT. EXCEPT AS OTHERWISE SPECIFICALLY
PROVIDED FOR IN THE PSA, ASSIGNEE ACKNOWLEDGES AND AGREES THAT ASSIGNOR EXPRESSLY DISCLAIMS AND NEGATES ANY REPRESENTATION OR WARRANTY,
EXPRESS, STATUTORY OR IMPLIED, AS TO (A) TITLE TO ANY OF THE ASSETS, (B) THE CONTENTS, CHARACTER OR NATURE OF ANY REPORT OF ANY PETROLEUM
ENGINEERING CONSULTANT, OR ANY ENGINEERING, GEOLOGICAL OR SEISMIC DATA OR INTERPRETATION, RELATING TO THE ASSETS, (C) THE QUANTITY, QUALITY
OR RECOVERABILITY OF HYDROCARBONS IN OR FROM THE ASSETS, (D) ANY ESTIMATES OF THE VALUE OF THE ASSETS OR FUTURE REVENUES GENERATED BY
THE ASSETS, (E) THE ABILITY TO PRODUCE HYDROCARBONS FROM THE ASSETS, (F) THE MAINTENANCE, REPAIR, CONDITION, QUALITY, SUITABILITY, DESIGN
OR MARKETABILITY OF THE ASSETS, (G) THE CONTENT, CHARACTER OR NATURE OF ANY INFORMATION MEMORANDUM, REPORTS, BROCHURES, CHARTS OR STATEMENTS
PREPARED BY ASSIGNOR OR THIRD PARTIES WITH RESPECT TO THE ASSETS, (H) ANY OTHER MATERIALS OR INFORMATION THAT MAY HAVE BEEN MADE AVAILABLE
TO ASSIGNEE OR ITS AFFILIATES, OR ITS OR THEIR EMPLOYEES, AGENTS, CONSULTANTS, REPRESENTATIVES OR ADVISORS IN CONNECTION WITH THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT OR ANY DISCUSSION OR PRESENTATION RELATING THERETO AND (I) ANY IMPLIED OR EXPRESS WARRANTY OF FREEDOM
FROM PATENT OR TRADEMARK INFRINGEMENT. EXCEPT AS AND TO THE LIMITED EXTENT EXPRESSLY REPRESENTED OTHERWISE IN THE PSA, ASSIGNOR FURTHER
DISCLAIMS ANY REPRESENTATION OR WARRANTY, EXPRESS, STATUTORY OR IMPLIED, OF MERCHANTABILITY, FREEDOM FROM LATENT VICES OR DEFECTS, FITNESS
FOR A PARTICULAR PURPOSE OR CONFORMITY TO MODELS OR SAMPLES OF MATERIALS OF ANY OF THE ASSETS, RIGHTS OF A ASSIGNEE UNDER APPROPRIATE
STATUTES TO CLAIM DIMINUTION OF CONSIDERATION OR RETURN OF THE PURCHASE PRICE, OR RIGHTS OF A ASSIGNEE UNDER DECEPTIVE TRADE PRACTICE
STATUES, CONSUMER PROTECTION STATUES OR OTHER SIMILAR STATUES, IT BEING EXPRESSLY UNDERSTOOD AND AGREED BY THE PARTIES THAT ASSIGNEE
SHALL BE DEEMED TO BE OBTAINING THE ASSETS IN THEIR PRESENT STATUS, CONDITION AND STATE OF REPAIR, “AS IS” AND “WHERE
IS” WITH ALL FAULTS OR DEFECTS (KNOWN OR UNKNOWN, LATENT, DISCOVERABLE OR UNDISCOVERABLE), AND THAT ASSIGNEE HAS MADE OR CAUSED
TO BE MADE SUCH INSPECTIONS AS ASSIGNEE DEEMS APPROPRIATE.

 

2.3
Further Assurances. The Parties agree to execute and deliver from time to time such further instruments and do such other acts
as may be reasonably requested and necessary to effectuate the purposes of this Assignment and the PSA.

 

Article
3

MISCELLANEOUS

 

3.1
Amendment. This Assignment may not be amended except by a written agreement executed by all of the Parties.

 

3.2
Parties in Interest; No Third Party Beneficiaries. This Assignment shall inure to the benefit of and be binding upon the Parties
and their respective successors and permitted assigns. This Assignment is for the sole benefit of the Parties and their permitted assigns,
and except as expressly provided in the PSA, nothing herein, express or implied, is intended to or shall confer upon any other Person
any legal or equitable benefit, claim, cause of action, remedy or right of any kind.

 

    	 

     

    

 

3.3
Severability. The provisions of this Assignment shall be deemed severable, and the invalidity or unenforceability of any provision
shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Assignment, or the application
thereof to any Person or any circumstance, is invalid or unenforceable, (a) a suitable and equitable provision shall be substituted therefor
in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and
(b) the remainder of this Assignment and the application of such provision to other Persons or circumstances shall not be affected by
such invalidity or unenforceability.

 

3.4
Governing Law; Consent to Jurisdiction and Venue. THIS AGREEMENT AND THE LEGAL RELATIONS AMONG ASSIGNOR AND ASSIGNEE SHALL BE
GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, EXCLUDING ANY CONFLICTS OF LAW RULE OR PRINCIPLE THAT WOULD
REQUIRE THE APPLICATION OF ANY OTHER LAW. EACH OF ASSIGNOR AND ASSIGNEE CONSENT TO THE EXERCISE OF JURISDICTION IN PERSONAM BY THE COURTS
OF THE STATE OF TEXAS FOR ANY ACTION ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED
HEREBY. ALL ACTIONS OR PROCEEDINGS WITH RESPECT TO, ARISING DIRECTLY OR INDIRECTLY IN CONNECTION WITH, OUT OF, RELATED TO OR FROM THIS
AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS SHALL BE EXCLUSIVELY LITIGATED IN COURTS HAVING SITES IN DALLAS, DALLAS COUNTY, TEXAS.

 

3.5
No Strict Construction. Assignee, on the one hand, and Assignor, on the other hand, participated jointly in the negotiation and
drafting of this Assignment, and, in the event an ambiguity or question of intent or interpretation arises, this Assignment shall be
construed as jointly drafted by Assignee, on the one hand, and Assignor, on the other hand, and no presumption or burden of proof shall
arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Assignment.

 

Without
limitation as to the foregoing, no rule of strict construction construing ambiguities against the draftsperson shall be applied against
any Person with respect to this Assignment.

 

3.6
Exhibits. The Exhibits attached hereto are hereby made part hereof and incorporated herein by this reference. Unless provided
otherwise, all recording references in such Exhibits are to the appropriate records of the counties in which the applicable Assets are
located.

 

3.7
Counterparts. This Assignment and any amendment hereto may be executed in one or more counterparts and by different Parties in
separate counterparts, each of which shall be deemed to be an original of this Assignment or such amendment and all of which, when taken
together, shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Assignment or
any amendment hereto by facsimile or other electronic means (including portable document format sent via email) shall be as effective
as delivery of a manually executed counterpart of this Assignment or such amendment, as applicable.

 

[Signature
pages follow.]

 

    	 

     

    

The authorized representatives of Assignor and Assignee execute this Assignment on the dates set forth in their respective acknowledgements
hereto, but this Assignment shall be effective as of the Effective Time as a conveyance of the Assets, and for the other purposes contemplated
by the PSA.

 

	 	ASSIGNOR:
	 	 	 
	 	ETXENERGY,
    LLC
	 	 
	 	By:	                    
	 	Name:	 
	 	Title:	 
	 	 	 
	 	ASSIGNEE:
	 	 
	 	U.S.
    ENERGY CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

SIGNATURE
PAGE TO ASSIGNMENT, BILL OF SALE AND CONVEYANCE

 

    	 

     

    

 

ASSIGNOR’S
ACKNOWLEDGMENT

 

	THE
    STATE OF TEXAS	§	 
	 	§	 
	COUNTY
    OF ____________	§	 

 

BEFORE
ME, on the _____ day of_______________, 2022, personally appeared, ____________________, known or proved to me to be the ________________
of ETXENERGY, LLC, a Texas limited liability company, and acknowledged to me that he/she executed this instrument on behalf of said limited
liability company.

 

	 	 
	 	Notary
Public in and for the State of Texas

 

ASSIGNOR’S
ACKNOWLEDGMENT PAGES TO ASSIGNMENT, BILL OF SALE AND CONVEYANCE

 

    	 

     

    

 

ASSIGNEE’S
ACKNOWLEDGMENT

 

	THE
    STATE OF ______________	§	 
	 	§	 
	COUNTY
    OF ____________	§	 

 

BEFORE
ME, on the _____ day of_______________, 2022, personally appeared, ____________________, known or proved to me to be the ________________
of U.S. Energy Corp., a Wyoming corporation, and acknowledged to me that he/she executed this instrument on behalf of said corporation.

 

	 	 
	 	Notary
Public in and for the State of ___________

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