Document:

Assignment, Bill of Sale

 Exhibit 10.38 
  
 ASSIGNMENT, BILL OF SALE AND CONVEYANCE 
  

			
	 STATE OF TEXAS
	  	 )(

	 	  	 KNOW ALL MEN BY THESE PRESENTS

	 COUNTY OF TITUS
	  	 )(

  
 That, for TEN DOLLARS ($10.00) and
other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned, Richard R. and Thyra K. Zeits, hereinafter referred to as “Assignor”, whose address is 1320 Treebrook Court Roswell, GA 30075,
hereby BARGAINS, SELLS, TRANSFERS, ASSIGNS and CONVEY unto Energytec, Inc., hereinafter referred to as “Assignee”, whose address is 14785 Preston Road, Suite 550, Dallas, TX 75254 and to its successors and assigns, an interest in and to
the leasehold estates or working interest created by those certain Oil and Gas Leases described in Exhibit “A”. The exact interest conveyed is specified in Exhibit “A”. 
  
 For the same consideration, Assignor does hereby BARGAIN, SELL, TRANSFER, ASSIGN and CONVEY
unto Assignee, a prorata interest in all equipment, personal property, fixtures and improvements located on, used in connection with or appurtenant to the leases described in Exhibit “A”. The interest in the equipment, personal property,
and fixtures are transferred to Assignee “AS IS”, “WITH ALL FAULTS” AND IN THEIR PRESENT STATE OF CONDITION AND REPAIR AND ASSIGNOR EXPRESSLY NEGATES AND IMPLIED WARRANTY OF MERCHANTABILITY OR WARRANTY OF FITNESS FOR A PARTICULAR
PURPOSE, with respect to said interests in equipment, personal property and fixtures. 
  
 Assignor intends hereby to transfer and convey to Assignee, the proportionate part assigned of Assignor’s right, title and interest in and to the lands affected by the leases, including mineral and royalty interests, overriding
royalty, net profits interests, production payments and any other economic interest owned by Assignor in the production of hydrocarbons and minerals therefrom; and interests in and to the pooling and unitization agreements, product purchase and
sales contracts, leases, permits, rights-of way, easements, licenses, farm outs, options, and other beneficial contracts or instruments. 
  
 This assignment is subject to the terms and conditions of the original leases, all the intermediate assignments affecting the leases and to depth limitations, if any,
with respect to the leases. As a part of the consideration for this Assignment, Assignee assumes its proportionate part of all responsibility for plugging the wells identified in Exhibit “A” in accordance with all the rules and regulations
of the Railroad Commission of Texas. 
  
 TO HAVE AND TO HOLD the leasehold
interests described in Exhibit “A” and the related properties and assets above described, unto Assignee, its successors and assigns, forever, without warranty either expressed or implied. 
  
 This instrument is executed this 19 day of February, 2004, but to be effective as of October
1, 2003, at 7:00 a.m. 
  

					
			
	 /s/ Richard R. Zeits
	 	 	 	 /s/ Thyra K. Zeits

	 Richard R. Zeits
 “ASSIGNOR”
	 	 	 	 Thyra K. Zeits
 “ASSIGNOR”

  

 Page Two 
 Assignment 
  
 STATE OF GEORGIA

  
 COUNTY OF CHEROKEE 
  
 This instrument was acknowledged before me on the 19th day of February, 2004 by Richard R. Zeits and Thyra K. Zeits. 
  

	
	
	 /s/ Jude Putting

	 Notary Public, State of Georgia

  
 EXHIBIT A

  
 C. W. BELCHER LEASE 
 TITUS COUNTY, TEXAS 
  
 10 acres, more or less, out of the John Brown Survey, A-42 of Titus County, Texas and being the East 10 acres as more particularly described in that certain Oil, Gas, and
Mineral Lease dated August 16, 1935 from C. W. Belcher and wife Willie Belcher as Lessors to R. L. Peveto, as Lessee, and recorded in Volume 96, Page 234, of thee Deed of Records of Titus County, Texas, and: 
  
 20 acres, more or less, out of the John Brown Survey, A-42 of Titus County, Texas and being
the West 10 acres as more particularly described in that certain Oil, Gas, and Mineral Lease dated August 16, 1935 from C. W. Belcher and wife Willie Belcher as Lessors to R. L. Peveto, as Lessee, and recorded in Volume 96, Page 234, of thee Deed of
Records of Titus County, Texas, and: 
  
 Interest Assigned: 
  

					
	 	 	 Working Interest:
	    	 48.000%

	 	 	 Net Revenue Interest
	    	 40.800%Form of Oil and Gas Lease

 Exhibit 10.39 
  
 OIL AND GAS LEASE 
 (PAID UP) 
  
 AGREEMENT, made and entered into this 1st day of November, 2000 by and between Sandra Croley Cain, 2403 xxx xxx Tract,
Lot#311, Longview, Texas 75604-1633, party of the first part, hereinafter called lessor (whether xxx xxx more), and Frank W Cole, 6130 Spring Valley, Dallas, Texas
75240, party of the second part, hereinafter called lessee. 
  
 WITNESSETH, That the said lessor, for and in consideration of TEN DOLLARS, cash in hand paid, receipt of which is hereby acknowledged and of the covenants and agreements hereinafter contained on the part
of lessee to be paid, kept and performed, has granted, demised, leased and let and by these presents does grant, demise, lease and let unto the said lessee, for the sole and only purpose of exploring by geophysical and other methods,
mining and operating for oil (including but not limited to distillate and condensate), gas (including casinghead gas and helium and all other constituents), and for laying pipe lines, and building tanks, powers, stations, and other structures
thereon, to produce, save and take care of said products, all that certain tract of land, together with any reversionary rights therein, situated in the County of Titus, State of Texas described as follows, to-wit: 
  
 John Brown Survey, A-42, containing 30.00 acres, more or less. 
  
 It is agreed that this lease shall remain in force for a term of one
year from date (herein call primary term) and as long thereafter as oil or gas, or either of them, is produced from said land by the lessee. 
  
 In consideration of the premises the said lessee covenants and agrees: 
  
 1st. To deliver to the credit of lessor free of cost, in the pipe line to which it may connect its wells, the one-eighth (1/8) part of all oil (including but not limited to condensate and distillate) produced and saved from the
leased premises. 
  
 2nd. To pay lessor for gas of whatsoever nature or kind (with all its constituents) produced and sold or used off the leased premises, or used in the
manufacture of products therefrom, one-eighth (1/8) of the gross products received for the gas sold, used off the premises, or in the manufacture of products therefrom, but in no event more than one-eighth (1/8) of the actual amount received by the
lessee, said payments to be made monthly. 
  
 3rd. To pay lessor for gas produced from any oil well and used off the premises, or for the manufacture of casing-head
gasoline or dry commercial gas, one-eighth (1/8) of the gross proceeds, at the mouth of the well, received by lessee for the gas during the time such gas shall be used, said payments to be made monthly. 
  
 If the lessee shall commence to drill a well or commence reworking
operations on an existing well within the term of this lease or any extension thereof, or on an acreage pooled therewith, the lessee shall have the right to drill such well to completion or complete reworking operations with reasonable
diligence and dispatch, and if oil and gas, or either of them, be found in paying quantities, this lease shall continue and be in force with like effect as if such well had been completed within the term of years first mentioned. 
  
 Lessee is hereby granted the right at any time and from time to time
to unitize the leased premises or any portion or portions thereof, as to all strata or any stratum or strata, with any other lands as to all strata or any stratum or strata, for the production primarily of oil or primarily of gas with or without
distillate. However, no unit for the production primarily of oil shall embrace more than 40 acres, or for the production primarily of gas with or without distillate more than 640 acres; provided that if any governmental regulation shall prescribe a
spacing pattern of for the development of the field or allocate a producing allowable based on acreage per well, then any such unit may embrace as much additional acreage as may be so prescribed or as may be used in such allocation of allowable.
Lessee may file written unit designations in the county in which the leased premises are located. Operations upon and production from the unit shall be treated as if such operations were upon or such production were from the production leased
premises whether or not the well or wells are located thereon. The entire acreage within a unit shall be treated for all purposes as if it were covered by and included in this lease except that the royalty on production from the unit shall be as
below provided, and xxx that in calculating the amount of any shut in gas royalties, only the part of the acreage originally leased and then xxx embraced by this lease shall be counted. In respect to production from the unit, Lessee shall
pay Lessor, in lieu xxx xxx royalties, thereon, only such proportion of the royalties stipulated herein as the amount of his acreage placed in the unit, or his royalty interest therein on an acreage basis bears to the total acreage of
the unit. 
  
 If said lessor owns a less interest in the
above described land than the entire and undivided fee simple estate therein, then the royalties herein provided shall be paid to the lessor only in the proportion which his interest bears to the whole and undivided fee. 
  
 Lessee shall have the right to use, free of cost, gas, oil, and water
produced on said land for its operations thereon, except water from wells of lessor. 
  
 When requested by the lessor, lessee shall bury his pipe lines below plow depth. 
  
 No well shall be drilled nearer than 200 feet to the house or barn now on said premises, without the written consent of the lessor. 
  
 Lessee shall pay for all damages caused by its operations to growing
crops on said land. 
  
 Lessee shall have the right at any
time to remove all machinery and fixtures placed on said premises, including the right to draw and remove casing. 
  
 If the estate of either part hereto is assigned, and the privilege of assigning in whole or in part is expressly allowed, the covenants hereof shall
extend to their heirs, executors, administrators, successors or assigns. However, no change or division in ownership of the land or royalties shall enlarge the obligations or diminish the rights of Lessee. No change in the ownership of the
land or royalties shall be binding on the lessee until after the lessee has been furnished with a written transfer or assignment or a true copy thereof. In case lessee assigns this lease, in whole or in part, lessee shall
be relieved of all obligations with respect to the assigned portion or portions arising subsequent to the date of assignment. 
  
 All express or implied covenants of this lease shall be subject to all Federal and State laws, Executive Orders, Rules and Regulations, and this lease
shall not be terminated, in whole or in part, nor lessee held liable in damages, for failure to comply therewith, if compliance is prevented by, or such failure is the result of any such Law, Order, Rule or Regulation. 
  
 This lease shall be effective as to each lessor on execution xxx those
signing, notwithstanding some of the lessors above named may not join in the execution, hereof The word “Lessor” as used in this lease means the party or parties who execute this lease as Lessor, although not named
above. 
  
 Lessee may at any time and from time to time
surrender this lease as to any part or parts of the leased premises by delivering or mailing a release thereof to lessor, or by placing a release of record in the proper County. 
  
 Lessor hereby warrants and agrees to defend the title to the lands herein described, and agrees that the
lessee shall have the right at any time to redeem for lessor by payment any mortgages, taxes or other liens on the above described lands, in the event of default of payment by lessor, and be subrogated to the rights of the
holder thereof. 
  
 IN TESTIMONY WHEREOF, we sign this the 2nd day
of June, 2002 
  

	
	 /s/ Illegible

	Lessor

  

 CORPORATION ACKNOWLEDGEMENT 
  
 (Oklahoma Form) 
  
 STATE OF ___________________________________ COUNTY OF _______________________________________ss: 
  
 On this __________ day of ___________ A.D., 2000, before me, the undersigned, a Notary Public 
  
 xxx and for the county and state aforesaid, personally appeared
____________________________________________xxx to be the identical person who signed the name of the maker thereof to the within and foregoing instrument as its ___________________ President and acknowledged to me that ____________ executed the
same as ____________ free and voluntary act and deed of said corporation for the uses and purposes therein set forth. 
  
 Given under my hand and seal the day and year last above written. 
  

My commission expires: _________________________________ _____________________________ Notary Public When instrument is executed by a corporation, the corporate name
must be shown and instrument signed by its President or Vice-President and attested by its Secretary or Assistant Secretary and the Corporate Seal affixed. 
  
 TEXAS ACKNOWLEDGEMENTS 
  
 THE STATE OF TEXAS, County of Titus, ss: 
  
 BEFORE ME, the undersigned, Notary Public in and for said County and State, on this day personalty 
  
 Appeared Sandra Cain known to me to be the same person ____ whose name ____ subscribed to the foregoing instrument, and acknowledged to me
that she executed the same for the purposes and consideration therein expressed. 
  
 GIVEN UNDER MY HAND and the seal of this office, this 2 day of June A.D., 2000 
  

	
	 /s/ Bellinda Ann Watts

  
 THE STATE OF TEXAS, County of
____________________________________, ss: 
  
 BEFORE ME, the undersigned, Notary
Public in and for said County and State, on this day personally 
  
 Appeared
______________________________________________ wife of __________________________________ 
  
 Known to me to be the person whose name is subscribed to the foregoing instrument, and having been examined by me privily 
  
 and apart from her husband, and having the same fully explained to her, she, the said _________________________________ a knowledged such instrument to be her act and
deed and declared that she had willingly signed the same for the purposes and consideration therein expressed, and that she did not wish to retract it. 
  
 GIVEN UNDER MY HAND and the seal of this office, this ________________ day of _________________ A.D., 2000 
  

	
	
	 

  
 OIL AND GAS
LEASE 
  
 FROM 
  
 Sandra Croley Cain 
  
 TO 
  
 Frank W Cole 
  
 Dated ____________________, 2000 
  
 John Brown Survey 
 A-42

  
 Titus County, Texas 
  
 30.00 acres 
  
 STATE OF TEXAS 
 TITUS COUNTY 
  
 This
instrument was filed for record on The                     day of
                    , 2000 At
                     o’clock                 M., and recorded in
Book ______ of _____ at page _______ Fee $______________ 
  

			
	  	 	  
	  	 	County Clerk
		
	 By
	 	  
	 	 	Deputy

  
 RETURN TO

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