Document:

Assignment of Operating Rights Interest between Juneau and Contango

 Exhibit 10.1 
 ASSIGNMENT OF OPERATING RIGHTS INTEREST 
  

					
	OUTER CONTINENTAL SHELF	  	§	    	
		  	§	    	KNOW ALL MEN BY THESE PRESENTS:
	OFFSHORE LOUISIANA	  	§	    	
		  	§	    	

 THAT, for good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the undersigned, Juneau Exploration, L.P., a Texas limited partnership, whose address is 3700 Buffalo Speedway, Suite 925, Houston, Texas, 77098 (the “Assignor”), the present owner and holder of a certain Operating Rights
Interest (as defined below) in and to the hereinafter identified oil and gas lease, does hereby GRANT, BARGAIN, SELL, ASSIGN and CONVEY unto Contango Operators, Inc., a Delaware corporation, whose address is 3700 Buffalo Speedway, Suite 960,
Houston, Texas, 77098 (the “Assignee”), subject to the terms and conditions hereinafter set forth, an undivided 3.37441% Operating Rights Interest in and to the following identified oil and gas lease limited to the depths described (the
“Lease”), including, without limitation, any and all wells, caissons, platforms, pipelines, facilities, equipment and related assets appurtenant to such Lease together with all oil, gas and/or condensate produced therefrom (collectively,
the “Assigned Interests”): 
 Oil and Gas Lease of Submerged Lands under the Outer Continental Shelf Lands Act bearing Serial
Number OCS-G 31362 effective December 1, 2007, by and between the United States of America, as Lessor, and Republic Exploration LLC, as Lessee, covering that portion of Block 11, Eugene Island Area, OCS Leasing Map, Louisiana Map No. 4,
seaward of the 1975 Supreme Court Decree Line specifically described in said Lease, containing approximately 523.22 acres, LIMITED IN DEPTH from the surface of the earth down to the stratigraphic equivalent of 15,753’ TVD as seen in the
Contango Operators, Inc. State Lease 18640 #1 well, API # 17709203750000. 
 The term “Operating Rights Interest”, as used
herein, shall mean the right to drill for, produce, remove, own and dispose of oil, gas and/or condensate that may be found on and produced from the Lease. 
 TO HAVE AND TO HOLD the Assigned Interests unto Assignee and its successors and assigns forever, together with all rights and privileges appurtenant thereto. Assignor specially warrants title to the Assigned Interests
as to all claims by, through and under it but not otherwise. 
 This Assignment and the Assigned Interests conveyed herein are subject to the
following: 
 1. All the terms and the express and implied covenants, obligations and conditions of the Lease, which terms, covenants,
obligations and conditions Assignee hereby assumes and agrees to perform with respect to the Assigned Interests; 
 2. The terms and
provisions of the contracts, agreements and assignments identified on Exhibit “A” (collectively, the “Contracts”) attached hereto and made a part hereof for all purposes, and Assignee, to the extent of the Assigned
Interests, agrees to be bound by and 

  

			
	Assignment of Eugene Island 11 G31362 – Juneau to COI	  	

 
assumes all of its respective obligations under and pursuant to each of the Contracts, including, without limitation, a proportionate share of the overriding
royalty interests provided for in the Contracts to the extent same apply to the Assigned Interests; and 
 3. To the extent not described on
Exhibit “A” hereto, all assignments, conveyances, liens or agreements of record in the offices of the Minerals Management Service, New Orleans, Louisiana or in the public records of the parish adjacent to the lands covered by the
Lease. 
 From and after the Effective Date (as defined hereafter), all operations conducted by Assignee with respect to the Lease shall be
conducted in accordance with the terms and conditions of the Lease and in compliance with all applicable orders, laws, ordinances, rules and regulations of federal, state and other governmental agencies having jurisdiction over the lands covered by
the Lease. 
 In connection with the execution of this Assignment, Assignor and Assignee have also executed a transfer document utilizing
Form MMS-151 for submittal to and approval by the Minerals Management Service of the United States Department of the Interior. Such Form MMS-151 is not intended to convey any additional Operating Rights Interest in and to the Lease than that
specified in this Assignment, and in the event of a conflict between the description of the Lease as set forth in this Assignment and the description of the Lease set forth in the Form MMS-151, the description set forth in this Assignment shall
control. 
 Assignor and Assignee agree to execute such other documents as may be reasonably necessary in order that this Assignment, or such
governmental transfer form as may have been executed by the parties in connection herewith, can be approved by the appropriate governmental authority having jurisdiction, and to execute such governmental forms as may be required of Assignee by such
governmental authority to designate Contango Operators, Inc. as the current operator of the Lease. 
 This Assignment may be executed in any
number of counterparts each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 This Assignment shall bind and inure to the benefit of and be binding upon Assignor and Assignee and their respective successors and assigns. 
 [Signature Page Follows] 
  

			
	Assignment of Eugene Island 11 G31362 – Juneau to COI	  	2

 IN WITNESS WHEREOF, this Assignment is executed as of this 3rd day of April, 2008, but effective for all
purposes as of April 1, 2008 at 7:30 a.m. Central Daylight Time (“Effective Date”). 
  

							
			
	WITNESSES:	 		 	Juneau Exploration, L.P.
			
		 		 	By: Juneau GP, LLC, its General Partner
	 /s/ Trupti Patel
	 		 	
	Name: Trupti Patel	 		 		 	
		 		 	By:	 	 /s/ John B. Juneau

	 /s/ Sergio Castro
	 		 		 	John B. Juneau
	Name: Sergio Castro	 		 		 	Sole Manager
			
	WITNESSES:	 		 	Contango Operators, Inc.
			
	 /s/ Trupti Patel
	 		 	
	Name: Trupti Patel	 		 	
				
		 		 	By:	 	 /s/ Kenneth R. Peak

	 /s/ Sergio Castro
	 		 		 	Kenneth R. Peak
	Name: Sergio Castro	 		 		 	Chairman & Secretary

  

			
	Assignment of Eugene Island 11 G31362 – Juneau to COI	  	

			
	STATE OF TEXAS	  	§
		  	§
	COUNTY OF HARRIS	  	§

 I, Artee Kumar, a Notary Public in and for said County and State, hereby certify that John B.
Juneau whose name as Sole Manager of Juneau GP, LLC, the General Partner of Juneau Exploration, L.P., is signed to the foregoing instrument, and who is known to me, acknowledged before me on this day that, being informed of the contents of said
instrument, he, as such officer, and with full authority, executed the same voluntarily for and as the act of said company. 
 Given under my hand and
official seal, this      day of April, 2008. 
  

							
	My Commission Expires:	 		 	  
	  	
		 		 	Notary Public in and for the State of Texas	  	
	  
	 		 		  	
	Notary Number: 12597397-2	 		 		  	

  

			
	STATE OF TEXAS	  	§
		  	§
	COUNTY OF HARRIS	  	§

 I, Artee Kumar, a Notary Public in and for said County and State, hereby certify that Kenneth R.
Peak, whose name as Chairman & Secretary of Contango Operators, Inc., is signed to the foregoing instrument, and who is known to me, acknowledged before me on this day that, being informed of the contents of said instrument, he, as such
officer, and with full authority, executed the same voluntarily for and as the act of said company. 
 Given under my hand and official seal, this
     day of April, 2008. 
  

							
	My Commission Expires:	 		  	  
	  	
		 		  	Notary Public in and for the State of Texas	  	
	  
	 		  		  	
	Notary Number: 12597397-2	 		  		  	

  

			
	Assignment of Eugene Island 11 G31362 – Juneau to COI	  	

 EXHIBIT “A” 
 to 
 Assignment of Operating Rights Interest 
 The Assigned Interests are subject to the following contracts, agreements and assignments, to-wit: 
  

	1.	Joint Operating Agreement, executed by and between Contango Operators, Inc., as Operator, and Republic Exploration LLC, CGM, L.P., Olympic Energy Partners, LLC, and Union Oil
Company of California, as Non-Operator, dated February 7, 2007, the terms of which are incorporated herein by reference thereto. 

  

	2.	Assignment of Overriding Royalty Interest, dated effective as of December 1, 2007, executed by Republic Exploration, LLC in favor of Linda G. Ferszt, Dutch Royalty Investments,
Land and Leasing, LP, Mark A. Stephens, Gary Clack and Contango Operators, Inc. 

  

			
	Assignment of Eugene Island 11 G31362 – Juneau to COIPartial Assignment of Oil and Gas Leases between Juneau and Contango

 Exhibit 10.2 
 PARTIAL ASSIGNMENT OF OIL AND GAS LEASES 
  

					
	STATE OF LOUISIANA	  	§	    	
		  	§	    	KNOW ALL MEN BY THESE PRESENTS, THAT:
	PARISH OF IBERIA	  	§	    	

 This Partial Assignment of Oil and Gas Leases (“Assignment”) is made by Juneau
Exploration, L.P., a Texas limited partnership (“Assignor”), whose address is 3700 Buffalo Speedway, Suite 925, Houston, Texas, 77098, in favor of Contango Operators, Inc., a Delaware corporation (“Assignee”), whose address is
3700 Buffalo Speedway, Suite 960, Houston, Texas, 77098. 
 WHEREAS, Assignor is the present owner and holder of working interests in those
certain oil and gas leases as more fully described in Exhibit “A” attached hereto and made a part hereof (the “Leases”). 
 NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Assignor does hereby and by these presents GRANT, BARGAIN, SELL, TRANSFER, SET OVER AND ASSIGN unto Assignee, subject to the
further provisions hereof, an undivided 3.37441% working interest in and to each of the Leases, a like interest in and to any and all wells, caissons, platforms, pipelines, facilities, equipment and related assets appurtenant to each of the Leases,
and a like interest in all oil, gas and/or condensate produced therefrom (collectively, the “Assigned Interests”). 
 TO HAVE AND
TO HOLD the Assigned Interests unto Assignee and its successors and assigns forever, together with all rights and privileges appurtenant thereto. Assignor specially warrants title to the Assigned Interests as to all claims by, through and under it
but not otherwise. 
 Assignment and the Assigned Interests conveyed herein are subject to the following: 
 1. All the terms and the express and implied covenants, obligations and conditions of the Leases, including, but not by way of limitation, the proper
plugging of any well bores, proper disposal with any wastes or transfer or assumption of any applicable permits, bonds, approvals and licenses, which terms, covenants, obligations and conditions the Assignee hereby assumes and agrees to perform with
respect to the Assigned Interests; and 
 2. The terms and provisions of the contracts, agreements and assignments identified on
Exhibit “B” (collectively, the “Contracts”) attached hereto and made a part hereof for all purposes, and Assignee, to the extent of the Assigned Interests agrees to be bound by and assumes all of its respective obligations
under and pursuant to each of the Contracts, including, without limitation, a proportionate share of the overriding royalty interests provided for in the Contracts to the extent same apply to the Assigned Interests; 
 3. To the extent not described on Exhibit “B” hereto, all assignments, conveyances, liens or agreements of record in the offices of the
State Mineral Board of the State of Louisiana or in the public records of Iberia Parish, Louisiana. 
  

			
	Assignment of Mary Rose Leases – Juneau to COI	  	

 From and after the Effective Date (as defined hereafter), all operations conducted by Assignee with
respect to the Leases shall be conducted in accordance with the terms and conditions of the Leases and in compliance with all applicable orders, laws, ordinances, rules and regulations of federal, state and other governmental agencies having
jurisdiction over the lands covered by the Leases. 
 Assignor and Assignee agree to execute such other documents as may be reasonably
necessary in order that this Assignment, or such governmental transfer form as may have been executed by the parties in connection herewith, can be approved by the appropriate governmental authority having jurisdiction, and to execute such
governmental forms as may be required of Assignee by such governmental authority to designate Contango Operators, Inc. as the current operator of the Lease. 
 This Assignment may be executed in any number of counterparts each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 This Assignment shall bind and inure to the benefit of and be binding upon Assignor and Assignee and their respective successors and assigns. 

This Assignment is made subject to the approval of the State Mineral Board of the State of Louisiana. 
 [Signature Page Follows] 
  

			
	Assignment of Mary Rose Leases – Juneau to COI	  	2

 IN WITNESS WHEREOF, this Assignment is executed as of this 3rd day of April, 2008, but effective for all
purposes as of April 1, 2008 at 7:30 a.m. Central Daylight Time (“Effective Date”). 
  

							
			
	WITNESSES:	 		 	Juneau Exploration, L.P.
			
		 		 	By: Juneau GP, LLC, its General Partner
	 /s/ Trupti Patel
	 		 	
	Name: Trupti Patel	 		 		 	
		 		 	By:	 	 /s/ John B. Juneau

	 /s/ Sergio Castro
	 		 		 	John B. Juneau
	Name: Sergio Castro	 		 		 	Sole Manager
			
	WITNESSES:	 		 	Contango Operators, Inc.
			
	 /s/ Trupti Patel
	 		 	
	Name: Trupti Patel	 		 	
				
		 		 	By:	 	 /s/ Kenneth R. Peak

	 /s/ Sergio Castro
	 		 		 	Kenneth R. Peak
	Name: Sergio Castro	 		 		 	Chairman & Secretary

  

			
	Assignment of Mary Rose Leases – Juneau to COI	  	

			
	STATE OF TEXAS	  	§
		  	§
	COUNTY OF HARRIS	  	§

 I, Artee Kumar, a Notary Public in and for said County and State, hereby certify that John B.
Juneau, whose name as Sole Manager of Juneau GP, LLC, the General Partner of Juneau Exploration, L.P., is signed to the foregoing instrument, and who is known to me, acknowledged before me on this day that, being informed of the contents of said
instrument, he, as such officer, and with full authority, executed the same voluntarily for and as the act of said company. 
 Given under my hand and
official seal, this      day of April, 2008. 
  

							
	My Commission Expires:	 		 	  
	  	
		 		 	Notary Public in and for the State of Texas	  	
	  
	 		 		  	
	Notary Number: 12597397-02	 		 		  	

  

			
	STATE OF TEXAS	  	§
		  	§
	COUNTY OF HARRIS	  	§

 I, Artee Kumar, a Notary Public in and for said County and State, hereby certify that Kenneth R.
Peak, whose name as Chairman & Secretary of Contango Operators, Inc., is signed to the foregoing instrument, and who is known to me, acknowledged before me on this day that, being informed of the contents of said instrument, he, as such
officer, and with full authority, executed the same voluntarily for and as the act of said company. 
 Given under my hand and official seal, this
     day of April, 2008. 
  

							
	My Commission Expires:	 		  	  
	  	
		 		  	Notary Public in and for the State of Texas	  	
	  
	 		  		  	
	Notary Number: 12597397-2	 		  		  	

  

			
	Assignment of Mary Rose Leases – Juneau to COI	  	

 EXHIBIT “A” 
 LEASES 
 The following described Leases, INSOFAR AND ONLY INSOFAR as said Leases affect depths from
the surface down to the stratigraphic equivalent of 15,753’ TVD as seen in the Contango Operators, Inc. State Lease No. 18640 #1 well, API #17709203750000, to-wit: 
  

			
	 Lease No. 1:
	  	State Lease 18640 dated July 13, 2005, by and between the State Mineral Board of the State of Louisiana, acting under said authority for and in behalf of the State of Louisiana, as
Lessor, and Republic Exploration LLC, as Lessee, covering a portion of Tract 37505, being a portion of Blocks 10 and 11, Eugene Island Area, Revised, Iberia Parish, Louisiana, as to the beds and bottoms of all water bodies belonging to the State of
Louisiana, containing approximately 474.53 acres, recorded in Book 1314, Page 200, File Number 2005-00010547 of the Clerk of Court’s office for Iberia Parish, Louisiana.
		
	 Lease No. 2:
	  	State Lease 18860 dated January 11, 2006, by and between the State Mineral Board of the State of Louisiana, acting under said authority for and in behalf of the State of Louisiana, as
Lessor, and Republic Exploration LLC, as Lessee, covering a portion of Tract 38027, being a portion of Block 6, Eugene Island Area, Revised, Iberia Parish, Louisiana, as to the beds and bottoms of all water bodies belonging to the State of
Louisiana, containing approximately 335.91 acres, recorded in Book 1325, Page 718, File Number 2006-00001837 of the Clerk of Court’s office for Iberia Parish, Louisiana.
		
	 Lease No. 3:
	  	State Lease 19261 dated February 14, 2007, by and between the State Mineral Board of the State of Louisiana, acting under said authority for and in behalf of the State of Louisiana, as
Lessor, and Republic Exploration LLC, as Lessee, covering a portion of Tract 38858, being a portion of Block 11, Eugene Island Area, Revised, Iberia Parish, Louisiana, as to the beds and bottoms of all water bodies belonging to the State of
Louisiana, containing approximately 51.65 acres, recorded in Book 1360, Page 776, File Number 2007-00003943 of the Clerk of Court’s office for Iberia Parish, Louisiana.
		
	 Lease No. 4:
	  	State Lease 19266 dated February 14, 2007, by and between the State Mineral Board of the State of Louisiana, acting under said authority for and in behalf of the State of Louisiana, as
Lessor, and Republic Exploration LLC, as Lessee, covering a portion of Tract 38860, being a portion of Blocks 10, 11, 6 and 7, Eugene Island Area, Revised, Iberia Parish, Louisiana, as to the beds and bottoms

			
		  	of all water bodies belonging to the State of Louisiana, containing approximately 1,436.26 acres, recorded in Book 1360, Page 789, File Number 2007-00003944 of the Clerk of Court’s
office for Iberia Parish, Louisiana.
		
	 Lease No. 5:
	  	State Lease 19396 dated June 13, 2007, by and between the State Mineral Board of the State of Louisiana, acting under said authority for and in behalf of the State of Louisiana, as Lessor,
and Republic Exploration LLC, as Lessee, covering a portion of Tract 39095, being a portion of Block 11, Eugene Island Area, Revised, Iberia Parish, Louisiana, as to the beds and bottoms of all water bodies belonging to the State of Louisiana,
containing approximately 459.67 acres, recorded in Book 1371, Page 261, File 2007-00008536 of the Clerk of Court’s office for Iberia Parish, Louisiana.

  

			
	Assignment of Mary Rose Leases – Juneau to COI	  	

 EXHIBIT “B” 
 CONTRACTS 
  

	1.	Joint Operating Agreement executed by and between Contango Operators, Inc., as Operator, and Republic Exploration LLC, CGM, L.P., Olympic Energy Partners, LLC and Union Oil Company
of California, as Non-Operators, dated February 7, 2007, the provisions of which are incorporated herein by reference. 

  

	2.	Assignment of Overriding Royalty Interest dated effective as of July 13, 2005, executed by Republic Exploration LLC in favor of Linda G. Ferszt, et al., conveying an overriding
royalty interest as more particularly described therein, pertaining to State Lease No. 18640. 

  

	3.	Assignment of Overriding Royalty Interest dated effective as of January 11, 2006, executed by Republic Exploration LLC in favor of Linda G. Ferszt, et al., conveying an
overriding royalty interest as more particularly described therein, pertaining to State Lease No. 18860. 

  

	4.	Assignment of Overriding Royalty Interest dated effective as of February 14, 2007, executed by Republic Exploration LLC in favor of Linda G. Ferszt, et al., conveying an
overriding royalty interest as more particularly described therein, pertaining to State Lease No. 19261. 

  

	5.	Assignment of Overriding Royalty Interest dated effective as of February 14, 2007, executed by Republic Exploration LLC in favor of Linda G. Ferszt, et al., conveying an
overriding royalty interest as more particularly described therein, pertaining to State Lease No. 19266. 

  

	6.	Assignment of Overriding Royalty Interest dated effective as of July 13, 2007, executed by Republic Exploration LLC in favor of Linda G. Ferszt, Dutch Royalty Investments Land
and Leasing, LP, Mark A. Stephens, Gary Clack and Contango Operators, Inc., conveying an overriding royalty interest as more particularly described therein, pertaining to State Lease No. 19396. 

  

	7.	That certain Joint Exploration Agreement dated as of March 1, 2008 and that certain Joint Operating Agreement dated as of February 1, 2008, by and between Republic
Exploration LLC, Contango Operators, Inc., CGM, L.P., Olympic Energy Partners, LLC and Union Oil Company of California (the “Republic Group”) and Summit Energy Company, LLC (“Summit”), Bayou Bend Petroleum U.S.A., Ltd.
(“Bayou” and together with Summit and the other parties thereto (other than the Republic Group), the “Summit Group”) and the other Summit Group parties, pertaining to State Lease Nos. 18860, 19261 and 19266, as well as State
Lease No. 19155 owned by the Summit Group. 

  

			
	Assignment of Mary Rose Leases – Juneau to COI

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