Document:

Fixed and Floating Charge Demand Debenture

 Exhibit 10.13 
 LEGEND ENERGY CANADA LTD. 
 (incorporated under the laws of the Province of
Alberta) 
 FIXED AND FLOATING CHARGE DEMAND DEBENTURE 

1. LEGEND ENERGY CANADA LTD. a body corporate having its head office at the City of Calgary, in the Province of Alberta
(hereinafter called the “Borrower”), for value received hereby acknowledges itself indebted and promises to pay to NATIONAL BANK OF CANADA (who and whose successors and assigns are hereinafter called the “Bank”),
on demand or on such earlier date as the principal sum hereby secured may become payable hereunder, the sum of Twenty-Five Million Dollars ($25,000,000.00) in lawful money of Canada (hereinafter called the “Principal Sum”)
at NATIONAL BANK OF CANADA, 2700, 530 –
8th Avenue S.W., at the City of Calgary, in the Province
of Alberta, Canada T2P 3S8, and to pay on demand in the same money and at the same place interest on the Principal Sum or on so much thereof as remains from time to time unpaid at the rate of seven percent (7.0%) per annum more than the annual
rate of interest announced from time to time by the Bank as a reference rate then in effect for determining interest rates on Canadian dollar commercial loans in Canada, and designated as the “prime rate” by the Bank, reckoned from the
date or dates the Principal Sum or any part thereof is due and payable. Any sum owing by way of interest that is not paid on demand shall bear interest at such rate from the date of demand until paid. This Debenture secures payment by the Borrower
to the Bank of all debts and liabilities, present or future, direct or indirect, absolute or contingent, matured or not at any time owing by the Borrower to the Bank, whether arising from dealings between the Bank and the Borrower or from any other
dealings or proceedings by which the Bank may be or become in any manner whatsoever a creditor of the Borrower, and whenever incurred, and whether incurred by the Borrower alone or with another or others and whether as principal or surety, including
without limitation all interest, commissions, legal and other expenses and charges, all of which shall be deemed included in the Principal Sum. 

2. The Borrower, as security for the payment of the Principal Sum, interest and all other monies from time to time secured hereby and as security for the
performance and observance of the covenants and agreements on the part of the Borrower herein contained, hereby: 
  

	 	(a)	the Borrower mortgages and charges to and in favour of the Bank as and by way of a fixed and specific mortgage, charge and security interest all of its present and
after- acquired right, title, estate and interest in and to that property described and referred to from time to time in Schedule “A” hereto, including proceeds thereof, together with any and all accretions and accessions thereto,
substitutions therefor and any and all attachments and other property at any time or times placed upon or associated with, or as may be necessary for the effective use and operation of the property described in Schedule “A” hereto and
which forms part thereof, all of which, together with any other property subsequently acquired and specifically mortgaged and charged as herein provided for, is hereinafter collectively referred to as the “Specifically Mortgaged
Property”; and 

  

	 	(b)	the Borrower mortgages, charges, grants and assigns to and in favour of the Bank as and by way of a first floating mortgage, charge and security interest all of its
present and after-acquired right, title estate and interest in and to all real property that is not subject to the fixed and specific mortgage, charge and security interest provided for in clause 2(a) including proceeds thereof together with any and
all accretions and accessions thereto, substitutions therefor and any and all fixtures and attachments and other property at any time or time placed upon or associated with, or as may be necessary for the effective use and operation of, such
property; and 

	 	(c)	the Borrower mortgages, charges, grants, creates and assigns to and in favour of the Bank as and by way of a first mortgage, charge and continuing security interest,
and the Bank hereby takes a continuing security interest, in all of the Borrower’s present and after-acquired personal property of whatsoever nature and kind and wheresoever situate including, without limitation, its goods, chattel paper,
securities, documents of title, instruments, money and intangibles, as those terms are defined in the Personal Property Security Act (Alberta), together with any and all other property and undertakings not included in clause 2(a) and
(b) above. 

 For the purposes of this Debenture, the words “Mortgaged Premises” mean and include all
present, after acquired and future undertakings, property and assets of the Borrower, all as described in subclauses (a), (b) and (c) of this clause 2. The Bank acknowledges that the Mortgaged Premises are subject to the permitted
encumbrance as defined and more particularly described in Appendix C to the Offering Letter (as defined in clause 3(a) below), as defined below (the “Permitted Encumbrances”). 

Until the security hereby constituted shall have become enforceable and the Bank shall have determined to enforce the same (and except as
hereinafter provided), the Borrower may, in the ordinary course of the business of the Borrower and for the purpose of carrying on the same, sell, assign, lease, dispose of and deal with the Mortgaged Premises; PROVIDED THAT the Borrower
shall not, and the Borrower hereby covenants that it will not, without the prior written consent of the Bank, make, give, create, grant, incur or assume any mortgage, pledge, hypothec, lien, charge, encumbrance, assignment, security interest or
other security, upon the Mortgaged Premises or any part thereof, other than the Permitted Encumbrances, ranking or purporting to rank in priority to or pari passu with the grant, mortgage, charge, assignment, transfer and security interest
created and secured hereby (hereinafter referred to as the “Charge”). 
 TO HAVE AND TO HOLD the
Mortgaged Premises and rights hereby conferred on the Bank for the use and purposes and with the power and authority and subject to the terms, conditions, provisos, covenants and stipulations herein expressed. 

The Charge shall not extend or apply to the last day of the term of any lease, whether oral or written, now held or hereafter acquired by
the Borrower but should such Charge become enforceable and the Bank shall have determined to enforce the same, the Borrower shall thereafter stand possessed of such last day and shall hold it in trust to assign the same to any person who may acquire
such term or the part thereof hereby charged in the course of any enforcement of the said Charge or any realization of the subject matter thereof. 
 This Debenture shall also operate as security for the due observance and performance of all obligations of the Borrower under any guarantee made by the Borrower in favour of the Bank whether the same are
made prior to, concurrent with or after the date hereof, and for the due payment of all monies that at any time and from time to time become payable by the Borrower to the Bank pursuant to any and all such guarantees. 

  
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 3. The Borrower covenants and agrees with the Bank: 

 

	 	(a)	that the Borrower will perform and observe such affirmative and negative covenants and restrictions as specified, from time to time, by the Bank in writing to be
performed and observed by the Borrower in respect of the provision of, inter alia, financial information, payment of dividends, capital expenditures, incurring of additional obligations (whether direct, indirect or contingent), reduction of
capital, distribution of assets, amalgamation, repayment of loans, lending of money, sale and other disposition of assets or such other matters as the Bank provides, including, without limitation, the terms, conditions, covenants and provisions of
the Offering Letter from the Bank to the Borrower dated August 12, 2011 and accepted by the Borrower dated August 15, 2011 and as further amended, revised, modified, supplemented, restated or replaced, from time to time (collectively the
“Offering Letter”); 

  

	 	(b)	that as of the date hereof the Borrower has good right, full power and lawful authority to charge the Mortgaged Premises according to the true intent and meaning of
this Debenture; 

  

	 	(c)	that as of the date hereof the Mortgaged Premises are free and clear of all mortgages, liens, charges, encumbrances and security interests other than (i) the
Charge, (ii) Permitted Encumbrances and (iii) any mortgage, lien, charge, encumbrance or security interest which is specifically permitted by the Bank pursuant to an instrument in writing executed by the Bank and addressed to the Borrower,
which instrument shall refer to this Debenture and describe any such mortgage, lien, charge, encumbrance or security interest so permitted by the Bank; 

  

	 	(d)	to pay the Principal Sum, interest and other monies hereby secured in accordance with the terms of this Debenture; 

 

	 	(e)	to carry on and continuously conduct its business in a lawful, efficient, diligent and businesslike manner; 

 

	 	(f)	to warrant and forever defend all and singular the Mortgaged Premises unto the Bank against every person whomsoever lawfully claiming or attempting to claim the same or
any part thereof; 

  

	 	(g)	to keep and maintain proper books of account and records accurately covering all aspects of the business and affairs of the Borrower and to permit authorized officers,
employees or agents of the Bank to inspect the same during regular business hours; 

  

	 	(h)	to furnish such financial statements of the Borrower containing such information and details as the Bank may require pursuant to the Offering Letter;

  

	 	(i)	to repair and keep in repair and in good working order and condition all buildings, structures, plant, machinery and apparatus that from time to time comprise and form
a part of the Mortgaged Premises; 

  

	 	(j)	to promptly pay when due all business, income and profits taxes properly levied or assessed against the Borrower, its business, operations, revenues, incomes or
profits, save and except when and so long as the validity of any such tax is in good faith contested by the Borrower, in which event the Borrower shall, if required by the Bank, furnish security satisfactory to it for the full amount of any of such
taxes being so contested; 

  
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	 	(k)	to fully pay and discharge as and when the same become due and payable all taxes (including local improvement rates), rates, duties and assessments that may be levied,
rated, charged or assessed against the Mortgaged Premises, or any part thereof, and if the Borrower fails to pay any of such taxes, rates, duties or assessments and if it is not in good faith contesting the same, the Bank may, but shall not be
obligated to, pay the same, and any amounts so paid by the Bank shall become and form part of the Principal Sum secured hereby and shall bear interest at the rate aforesaid until paid; 

 

	 	(1)	to at all times promptly observe, perform, execute and comply with all applicable laws, rules, requirements, orders, directions, by-laws, ordinances, work orders and
regulations of every governmental authority and agency whether federal, provincial, municipal or otherwise, including, without limiting the generality of the foregoing, those dealing with zoning, use, occupancy, subdivision, parking, historical
designations, fire, access, pollution of the environment, toxic materials or other environmental hazards, public health and safety, and all private covenants and restrictions affecting the Mortgaged Premises or any portion thereof, and from time to
time, upon request of the Bank, to provide to the Bank evidence of such observance and compliance, and at its own expense to make any and all improvements thereon or alterations to the Mortgaged Premises, structural or otherwise, and to take all
such other action as may be required at any time by any such present or future law, rule, requirement, order, direction, by-law, ordinance, work order or regulation; 

 

	 	(m)	notify the Bank, without delay of any Event of Default; and 

  

	 	(n)	provide the Bank with any information or document that it may reasonably require from time to time. 

 

	4.		(a)	 The Borrower covenants that at all times during the continuation of this security, it will insure and keep insured against all insurable
hazards with insurers acceptable to the Bank, all of the Mortgaged Premises which is of an insurable nature to the full extent of the insurable value thereof. Unless otherwise agreed to in writing by the Bank, the losses under all such insurance
shall be payable as first loss payee to the Bank as its interest may appear. 

  

	 	(b)	The Borrower agrees that so long as it remains indebted to the Bank, it will, unless otherwise requested in writing by the Bank, maintain with reputable insurers third
party public liability, blow-outs, “all risks” perils and property damage insurance covering all operations of the Borrower within limits of coverage usually carried by others owning or operating the same or a similar type and size of
business as that being conducted by the Borrower. 

  

	 	(c)	The Borrower will, upon the request of the Bank, deliver to the Bank certified copies of all policies or contracts of insurance being carried by the Borrower pursuant
to the terms hereof, together with such certificates of insurance as the Bank may reasonably require and evidence that the premiums on all such insurance have been paid. 

  
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	 	(d)	If the Borrower should fail to take out or maintain all the insurance required to be carried by the Borrower pursuant to the terms of this Debenture, the Bank may, but
shall not be obligated to, take out all or any of such insurance and all sums expended by the Bank in effecting such insurance shall forthwith become due and be payable by the Borrower to the Bank and until paid shall form part of the Principal Sum
secured hereby and shall bear interest at the aforesaid rate. 

  

	 	(e)	In the event of loss under any of the insurance referred to in this clause 4, the Bank, at its option, may apply the insurance proceeds on account of the Principal Sum
and interest secured hereby or may apply the same to rebuilding, repairing and restoring the Mortgaged Premises, or may apply the same partly for one purpose and partly for the other purpose. 

5. The Borrower shall not and covenants that it will not, without the written consent of the Bank first had and received: 

 

	 	(a)	incur further secured indebtedness, create or suffer to be created any mortgage, hypothec, lien, charge, encumbrance or security interest upon its undertaking or any of
its property and assets the subject of the Charge ranking in priority to or pari passu with the Charge save and except for the Permitted Encumbrances or any other security granted from time to time by the Borrower to the Bank for or in
respect of any present or future indebtedness of the Borrower to the Bank; nor 

  

	 	(b)	guarantee to anyone other than to the Bank, the debts, liabilities or obligations of any person, firm or corporation whomsoever or become the endorser on any note or
other obligation otherwise than in the ordinary course of the business of the Borrower; nor 

  

	 	(c)	reduce its capital, declare or pay any dividends on any shares of the Borrower or make any distribution, or redeem, purchase or otherwise retire or pay off any of the
issued and outstanding shares for the time being of the Borrower unless such dividends, redemptions, purchaser payments or distributions do not affect the capacity of the Borrower to fulfil its obligations to the Bank, including repayment of its
debt; nor 

  

	 	(d)	make any loans or investments to any of its non-guarantor subsidiaries or affiliates; nor 

 

	 	(e)	make any capital expenditures when it is in default under this Debenture; nor 

 

	 	(f)	sell, lease, transfer, convey or dispose of any Mortgaged Premises in the aggregate of greater than $300,000 each calendar year, including sale and leaseback
transactions on facilities, without the prior written consent of the Bank; nor 

  

	 	(g)	hedge or contract crude oil, natural gas liquids, or natural gas, on a fixed price basis, exceeding 50% of actual production volumes; nor 

 

	 	(h)	monetize or settle any fixed price financial hedge or contract; nor 

  

	 	(i)	allow a Change in Control (as defined in the Offering Letter) of the Borrower; nor 

 

	 	(j)	be a party to any amalgamation, merger, plan of arrangement or consolidation; nor 

  
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	 	(k)	utilize any Advance (as defined in the Offering Letter) to finance a hostile acquisition; nor 

 

	 	(1)	move its property, assets or undertakings outside of the Province of Alberta or move its chief executive office from Alberta; nor 

 

	 	(m)	create, acquire or suffer to exist any subsidiary unless the subsidiary provides a guarantee and other security required by the Bank in its sole discretion; nor

  

	 	(n)	experience a change in its executive management which, in the opinion of the Bank, acting in its sole discretion, has or may have a material adverse change in the
financial condition of the Borrower. 

 6. The Borrower represents and warrants to the Bank that each account receivable and other
debt due, owing or accruing due to the Borrower is enforceable in accordance with its terms against the party obligated to pay the same (the “Account Debtor”), and the amount represented by the Borrower to the Bank from time
to time as owing by each Account Debtor or by all Account Debtors will be the correct amount actually and unconditionally owing by such Account Debtor or Account Debtors, except for normal cash discounts where applicable, and no Account Debtor will
have any defence, set off, claim or counterclaim against the Borrower which can be asserted against the Bank, whether in any proceeding to enforce this Debenture or otherwise, and the Borrower will, at the request of the Bank, furnish the Bank with
the names of all Account Debtors. After the occurrence of an Event of Default hereunder, the Bank may notify any or all Account Debtors and may direct such parties to make all payments to the Bank. The Borrower acknowledges that any such payments on
or other proceeds of the Mortgaged Premises received by the Borrower from such Account Debtors or after an Event of Default under this Debenture shall be received and held by the Borrower in trust for the Bank and shall be turned over to the Bank
upon request. Nothing contained in this clause 6 shall or shall be deemed to have the effect of making the Bank responsible to ascertain the Account Debtors or for the collection of any such accounts or amounts nor shall the Bank, by reason of this
clause 6 or by reason of any steps, actions, notices or other proceedings, taken or given to enforce such rights be or be deemed to be a mortgagee in possession of the Mortgaged Premises or any part thereof nor be liable or accountable for any
monies except those actually received. 
 7. The Borrower will at all times do, execute, acknowledge and deliver or cause to be done, executed,
acknowledged and delivered all and every such further acts, deeds, mortgages, transfers and assurances in law as the Bank shall reasonably require for better assuring, mortgaging, assigning and confirming unto the Bank all and singular the
undertaking and all of the property and assets of the Borrower hereby charged or intended so to be or which the Borrower may hereafter become bound to charge to and in favour of the Bank and for the better accomplishing and effectuating of the
intentions of this Debenture. 
 8. Without limiting in any way the right of the Bank to make demand for payment at any time, the principal,
interest and other monies secured by this Debenture shall become immediately due and payable, whether with or without prior demand therefor, and the security hereby constituted shall become immediately enforceable in each and every of the following
events (each of such events being hereinafter called an “Event of Default”): 
  

	 	(a)	if the Borrower makes a default in the payment, in whole or in part, of the Principal Sum of or interest on this Debenture or any other monies secured hereby;

  
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	 	(b)	if the Borrower makes default in the observance or performance of any other covenant, agreement or condition on the part of the Borrower to be kept, observed or
performed, whether herein or in any other agreement or instrument between the Borrower including the Offering Letter; 

  

	 	(c)	if the Borrower shall: 

  

	 	(i)	institute or commence proceedings to be adjudicated a bankrupt or insolvent or consent to the filing of a bankruptcy or insolvency proceeding against it;

  

	 	(ii)	file, institute or commence or otherwise take any proceeding relating to reorganization, adjustment, arrangement, composition, compromise, stay of proceedings or relief
similar to any of the foregoing under any applicable law regarding bankruptcy, insolvency, reorganization or relief of debts (including under the Companies’ Creditors Arrangement Act or the Bankruptcy and Insolvency Act);

  

	 	(iii)	consent to the filing of any such proceeding; 

  

	 	(iv)	consent to the appointment of a receiver, liquidator, trustee or assignee in bankruptcy or similar official or to the liquidation, dissolution or winding-up of the
Borrower or of all or a substantial part of its property and assets; 

  

	 	(v)	make an assignment for the benefit of creditors; 

  

	 	(vi)	admit in writing its inability to pay its debts generally as they become due; 

 

	 	(vii)	generally not be paying its debts as they come due or otherwise be insolvent; 

 

	 	(viii)	take any corporate or other action authorizing or in furtherance of any of the foregoing; or 

 

	 	(d)	if any proceeding is filed, instituted or commenced by any person seeking: 

 

	 	(i)	to adjudicate the Borrower a bankrupt or insolvent or the liquidation, reorganization, winding-up, adjustment, arrangement, compromise, composition, stay of proceedings
or similar relief of or for the Borrower under any applicable law regarding bankruptcy, insolvency, reorganization or relief of debtors (including under the Companies’ Creditors Arrangement Act or the Bankruptcy and Insolvency
Act); or 

  

	 	(ii)	to appoint a receiver, liquidator, trustee or assignee in bankruptcy or similar official of the Borrower or of all or a substantial part of its property and assets;

  

	 	(e)	if any execution, sequestration, writ of extent or any other process of any court becomes enforceable against the Borrower, or if a distress or analogous process,
having a value in the aggregate of greater than $300,000 is levied upon the property of the Borrower or any part thereof, provided that such execution, sequestration, writ of extent or other process is not in good faith being contested by the
Borrower and security satisfactory to the Bank has been provided to the Bank; 

  
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	 	(f)	if the Borrower ceases or threatens to cease to carry on its business or if the Borrower commits or threatens to commit any act of bankruptcy; 

 

	 	(g)	if the Borrower fails to make any payment of principal or interest in regard to any indebtedness whatsoever owed by it after the expiry of any applicable grace period
and demand therefor, to any third party; or 

  

	 	(h)	if a Change in Control (as defined in Appendix C of the Offering Letter) in the Borrower occurs and the Bank has not consented to such change of control, in its sole
discretion; 

  

	 	(i)	if the Borrower makes default in the due payment, performance or observance, in whole or in part, of any debt, liability or obligation of the Borrower to the Bank,
whether secured hereby or otherwise; 

  

	 	(j)	if the Borrower is in default under the terms of any other contract, agreements or writings with any other creditor having liens on the property of the Borrower and
such default could reasonably be expected to result in a Material Adverse Effect (as defined in Appendix C of the Offering Letter); 

  

	 	(k)	if the validity, enforceability or, where applicable, priority of the Offering Letter or this Debenture is prejudiced or endangered; 

 

	 	(1)	if any event of default under any material agreement, including the Offering Letter, to which the Borrower is a party occurs and is continuing, or any other event which
constitutes or which with giving of notice or lapse of time or otherwise would constitute an event of default under any material agreement, including the Offering Letter, to which the Borrower is a party occurs; 

 

	 	(m)	if the Bank in good faith believes and has commercially reasonable grounds to believe that the prospect of repayment of any Advance (as defined in Appendix C of the
Offering Letter) is or is about to be impaired or that the Mortgaged Premises is or is about to be placed in jeopardy; and 

  

	 	(n)	if there shall, in the opinion of the Bank acting reasonably, be a Material Adverse Effect (as defined in Appendix C of the Offering Letter) relating to the Borrower
has occurred. 

 9. The Bank may waive any breach by the Borrower of any of the provisions contained in this Debenture or any
default by the Borrower in the observance or performance of any covenant, agreement or condition required to be kept, observed or performed by the Borrower under the terms of this Debenture; PROVIDED ALWAYS that no act or omission of the Bank
in the premises shall extend to or be taken in any manner whatsoever to affect any subsequent breach or default or to affect the rights of the Bank resulting therefrom. 
 10. (a) If an Event of Default shall have occurred and be continuing, the Bank may, in its discretion, appoint a receiver (which term shall herein include a receiver and manager) of the Mortgaged
Premises, of the rents, issues, profits, revenues and income thereof or of any part or parts of any of the foregoing, and upon any such appointment by the Bank the following provisions shall apply: 

 

	 	(i)	the appointment of any receiver by the Bank hereunder shall be made in writing signed by the Bank and such writing shall be conclusive evidence

  
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for all purposes of such appointment. The Bank may from time, to time in the same manner remove any receiver so appointed and appoint another in his stead. Notwithstanding anything to the
contrary hereby expressed or implied, in making any such appointment of a receiver hereunder, the Bank shall be deemed to be acting as the attorney for the Borrower and the Borrower does hereby irrevocably appoint the Bank as its attorney for that
purpose; 

  

	 	(ii)	the Bank, in its discretion, may appoint one or more receivers hereunder in respect of all or any part or parts of the Mortgaged Premises, as may be designated in
writing by the Bank when making any such appointment; 

  

	 	(iii)	any such receiver shall have the power: 

  

	 	(A)	to take possession of, collect and to get in all or any part of the Mortgaged Premises and for that purpose to take proceedings in the name of the Borrower or otherwise
and to make any arrangement or compromise; 

  

	 	(B)	to carry on or concur in carrying on all or any part of the business of the Borrower; and 

 

	 	(C)	to sell or to concur in selling all or any part of the Mortgaged Premises in such manner as may seem advisable to the receiver, and to effect such sale by conveying the
same in the name and on behalf of the Borrower or otherwise in respect thereof; 

  

	 	(iv)	every such receiver may, in the discretion of the Bank, be vested with all or any of the powers and discretions conferred on the Bank under this Debenture;

  

	 	(v)	the Bank may from time to time fix the reasonable remuneration of every such receiver and may direct the payment thereof (in priority to the Bank), out of the Mortgaged
Premises and the rents, profits, revenues and income therefrom or the proceeds thereof; 

  

	 	(vi)	the Bank may from time to time require any receiver to give security for the performance of his duties as such receiver and may fix the nature and amount thereof, but
the Bank shall not be bound to require any such security from the receiver; 

  

	 	(vii)	 every such receiver may, with the consent in writing of the Bank, borrow money for the purpose of maintaining, protecting or preserving the Mortgaged
Premises or any part thereof, or for the purpose of carrying on the business of the Borrower, and any receiver may issue certificates (in this sub clause called “Receiver’s Certificates”) for such sums as will, in the opinion
of the Bank, be sufficient for obtaining security upon the Mortgaged Premises or any part thereof for the amounts from time to time so required by the receiver, and such Receiver’s Certificates may be

  
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payable either to order or to bearer and may be payable at such time or times, and shall bear such interest as the Bank may approve and the receiver may sell, pledge or otherwise dispose of the
Receiver’s Certificates in such manner and may pay such commission on the sale thereof, as the Bank may consider reasonable, and the amounts from time to time payable by virtue of such Receiver’s Certificate shall form a charge upon the
Mortgaged Premises in priority to the amounts secured under this Debenture; 

  

	 	(viii)	every such receiver shall, so far as concerns responsibility for his acts or omissions, be deemed to be the agent for the Borrower, and in no event the agent of the
Bank. The Bank shall not, in making or consenting to such appointment, incur any liability to any receiver for his remuneration or otherwise howsoever be liable or responsible for the acts or omissions, including the negligence, misconduct or
misfeasance, on the part of any such receiver; 

  

	 	(ix)	except as may be otherwise directed in writing by the Bank, all monies from time to time received by such receiver shall be paid over to the Bank to be held by it as
part of the Mortgaged Premises; and 

  

	 	(x)	the Bank may pay over to any receiver any monies constituting part of the Mortgaged Premises to the extent that the same may be applied for the purposes hereof by such
receiver, and the Bank may from time to time determine what funds the receiver shall be at liberty to keep on hand with a view to the performance of his duties hereunder as such receiver. 

 

	 	(b)	If an Event of Default shall have occurred and be continuing, the Bank may in its discretion, in lieu of appointing a receiver as provided for in subclause 10(a)
hereof, apply to any court or courts of competent jurisdiction for the appointment of one or more receivers of the Mortgaged Premises, of the rents, issues, profits, revenues and income thereof or of any part or parts of any of the foregoing, with
such powers as the court or courts making such appointment or appointments shall confer including, without limiting the generality thereof, all or any of the powers set forth in subclause 10(a) hereof. Any receiver or receivers so appointed by a
court, shall be subject to the supervision of that court. 

  

	 	(c)	Nothing done by the Bank or by any receiver or receivers in possession of the Mortgaged Premises shall render the Bank a mortgagee in possession or responsible as such,
or in any way limit or curtail the remedies of the Bank as a mortgagee or creditor under any applicable law or statute. 

 11. If
the security hereby constituted shall become enforceable, the Bank may, subject to applicable law, either before or after any entry, sell and dispose of all or any part of the Mortgaged Premises either as a whole or in several portions thereof, at
public auction or by public tender or by private sale at such time or times and on or subject to such terms and conditions as the Bank may determine, and it shall be lawful for the Bank to make such sale, either for cash or upon credit or partly for
cash and partly upon credit, and with or without advertisement, and upon such reasonable conditions as to upset, reserve bid or price and as to terms of payment as the Bank may deem proper, and the Bank may also rescind or vary any contract of sale
that may have been entered into and resell with or under any of the powers conferred 

  
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hereunder and adjourn any such sale from time to time and may execute and deliver to the purchaser or purchasers of the Mortgaged Premises or any part thereof good and sufficient title to the
same, the Bank being hereby constituted irrevocably the attorney of the Borrower for the purpose of making such sale and for executing all deeds and documents pertaining thereto and any such sale made as aforesaid shall be a perpetual bar both in
law and in equity against the Borrower and all other persons claiming such property or any part thereof, by, from, through or under the Borrower. 
  

					
	12.	 	(a)	  	Notwithstanding any period of time provided to the Borrower to remedy an Event of Default as provided either herein or under the Offering Letter, the Bank may, contemporaneously
with or during any such period, give the Borrower the Notice of Intent to Enforce Security required by the Bankruptcy and Insolvency Act (Canada), as amended, it being the intention of the parties that, at the Bank’s option, the period
to cure defaults, and then the ten (10) day period of Notice of Intention to Enforce Security, may run concurrently.
			
		 	(b)	  	The Borrower acknowledges that if a stay of proceedings is issued against the Borrower pursuant to Bankruptcy and Insolvency Act, the Companies’ Creditors
Arrangements Act or otherwise, the Bank would be irreparably harmed and materially prejudiced if any proceeds of the Mortgaged Premises were used for any purpose other than the repayment of the debts secured by this Debenture, and the Borrower
hereby acknowledges and agrees that, without limiting the operation of clause 6 hereof, any proceeds of the Mortgaged Premises received by the Borrower while such stay is in effect shall be received by and held by the Borrower in trust for the
Bank.

 13. The Bank or an agent of the Bank may, at any time, enter upon the Mortgaged Premises to inspect the Mortgaged
Premises, and the reasonable costs of such inspection shall be added to the debt secured by this Debenture. 
 14. If the Borrower should fail
to comply with any covenant or agreement contained herein, the Bank or an agent of the Bank may, but shall not be obligated to, do whatever is necessary to rectify such failure, and all sums so expended by the Bank or its agent shall forthwith
become due and be payable by the Borrower to the Bank and until paid shall form part of the Principal Sum secured hereby and shall bear interest at the aforesaid rate. 
 15. The Borrower agrees to pay to the Bank forthwith upon demand all costs, charges and expenses (including legal fees on a solicitor and his own client basis) of, or incurred by the Bank in connection
with this Debenture or the Mortgaged Premises or any part thereof, or in recovering or enforcing payment of any of the monies owing hereunder including all costs, charges and expenses incurred in connection with taking possession, preserving,
collecting or realizing upon the Mortgaged Premises, together with interest thereon at the aforesaid rate from the date of incurring such costs, charges and expenses. 
 16. Upon payment by the Borrower to the Bank of the Principal Sum, interest and all other monies secured by this Debenture and provided the security hereby constituted shall not have become enforceable,
the Bank shall, upon the written request of the Borrower, deliver up this Debenture to the Borrower and shall, at the expense of the Borrower, release and discharge the security hereby constituted and execute and deliver to the Borrower such deeds
or other documents as shall be requisite to release and discharge this Debenture and the security afforded hereby; provided, however, that this Debenture may be assigned, pledged, hypothecated or deposited by the Borrower as security for advances or
loans to or for indebtedness or other obligations or liabilities of the Borrower and in such event this Debenture shall not be deemed to have been discharged or redeemed by reason of the account of the Borrower having ceased to be in debit balance
while this Debenture remains so assigned, pledged, hypothecated or deposited. 

  
 - 11 -

 17. No postponement or partial release or discharge of the Charge in respect of all or any part of the
Mortgaged Premises shall in any way operate or be construed so as to release and discharge the security hereby constituted in respect of the Mortgaged Premises except as therein specifically provided, or so as to release or discharge the Borrower
from its liability to the Bank to fully pay and satisfy the Principal Sum, interest and all other monies due or remaining unpaid by the Borrower to the Bank. 
 18. The Borrower acknowledges and agrees that in the event it amalgamates with any other corporation or corporations it is the intention of the Borrower and the Bank that the term “Borrower”
when used herein shall apply to each of the amalgamating corporations and to the amalgamated corporation, such that the Charge shall secure the indebtedness of each of the amalgamating corporations and the amalgamated corporation to the Bank at
the time of amalgamation and any indebtedness of the amalgamated corporation to the Bank thereafter arising. The Charge shall attach to all of the “Mortgaged Premises” owned by each corporation amalgamating with the Borrower, and by
the amalgamated corporation, at the time of amalgamation, and shall attach to any “Mortgaged Premises” thereafter owned or acquired by the amalgamated corporation when such becomes owned or is acquired. 

19. The Borrower will indemnify the Bank and its successors and assigns against any and all liabilities, actions, claims, judgments, costs, charges and
legal fees that may be made against or incurred by the Bank, by reason of the assertion that the Bank has received funds that may be claimed by third persons, either before or after the payment in full of the Principal Sum, interest and other monies
secured hereby and either before or after the release either wholly or partially of the Charge; and the Bank shall have the right to defend against any such claims, actions and charges and claim from the Borrower all expenses incurred by the Bank in
connection therewith, together with all reasonable legal fees as may be paid by the Bank in connection therewith. It is understood and agreed that the covenants and conditions of this clause 19 shall at all times be construed to be a personal
covenant in favour of the Bank and shall not run with the Mortgaged Premises, and that such covenants and indemnity shall remain in full force and effect notwithstanding the payment of the Principal Sum, interest and all other monies secured by this
Debenture and the release, either partially or wholly, of the Charge, or any foreclosure hereof. 
 20. The Principal Sum, interest and other
monies hereby secured will be paid by the Borrower and shall be assignable by the Bank free from any right of set-off or counterclaim by the Borrower or any equities between the Borrower and the Bank. 

21. Neither the execution and delivery nor the registration of this Debenture shall for any reason whatsoever obligate or bind the Bank to advance any
monies, or having advanced a portion obligate the Bank in any way to advance the balance thereof; but nevertheless the Charge shall take effect forthwith upon execution of this Debenture and shall operate as security for the actual amount of all the
debts and liabilities, present or future, direct or indirect, absolute or contingent, matured or not, at any time owing by the Borrower to the Bank or remaining unpaid, notwithstanding that the balance owing hereunder may fluctuate and may from time
to time and at any time be reduced to a nil balance and further notwithstanding that the advance of monies hereunder may be repaid and further advanced. 
 22. The security hereby constituted is in addition to, and not in substitution for, any other security now or hereafter held by the Bank and no payment to the Bank shall constitute payment on account of
the Principal Sum, interest or other monies from time to time owing hereunder unless specifically so appropriated in writing by the Bank. The taking of any action or proceedings or remaining from so doing, or any other dealing with any other
security for the monies secured hereby shall not release or affect the 

  
 - 12 -

 
security of this Debenture and the taking of the security hereby granted or any proceedings hereunder for the realization of the security hereby granted shall not release or affect any other
security held by the Bank for the monies hereby secured. 
 23. Any notice that may be given by the Bank in accordance with this Debenture shall
be in writing and may be given at any time either by delivering or by mailing the same addressed to the Borrower at its address specified on the signature page hereof. Any notice delivered to the Borrower shall be deemed to have been given on the
business day during which the same was so delivered to the Borrower and any notice mailed to the Borrower shall be conclusively deemed to have been received by the Borrower on the third business day following that on which it was so mailed.

 24. The Borrower hereby authorizes the Bank to file or register such financing statements, financing change statements and other documents as
the Bank may deem appropriate to perfect on an ongoing basis and continue the Charge, and to protect and preserve the Mortgaged Premises and the Borrower hereby irrevocably constitutes and appoints any officer or director of the Bank the true and
lawful attorney of the Borrower, with full power of substitution, to do any of the foregoing in the name of the Borrower whenever and wherever it may be deemed necessary or expedient. 
 25. The Borrower hereby acknowledges receipt of a copy of this Debenture, and waives its right to receive a copy of any financing statement, financing change statement or verification statement filed or
registered by the Bank. 
 26. The Borrower shall be solely liable for all environmental damage, now or in the future, attributable to the
Mortgaged Premises and, in addition, the Borrower shall indemnify and save harmless the Bank from and against all liability, loss, cost, claims, expenses, or damages (including legal costs on a solicitor/own client basis), suffered, sustained, paid,
or incurred by the Bank arising out of or in connection with any abandonment or reclamation or any environmental liability now or in the future, relating to the Mortgaged Premises. This covenant and indemnity shall survive the satisfaction, release
or enforcement of this Debenture or any security collateral hereto and the full repayment of the indebtedness of the Borrower to the Bank and shall continue in full force and in effect for the benefit of the Bank. 

27. To the full extent that it may lawfully do so, the Borrower hereby: 
  

	 	(a)	waives and disclaims any benefit of, and shall not have or assert any right under any statute or rule of law pertaining to, the marshalling of assets, the exemption of
homestead, the administration of estates, or any other matter whatever, to defeat, reduce or affect the rights of the Bank under the terms of this Debenture to a sale of the Mortgaged Premises or any part thereof or for the collection of all amounts
secured hereby; 

  

	 	(b)	agrees that it shall not have or assert any right or equity of redemption or any right under any statute or otherwise to redeem the Mortgaged Premises or any part
thereof after the sale hereunder to any person whether such sale is by the Bank, any receiver or otherwise, notwithstanding, if such should be the case, that the Bank may have purchased same; 

 

	 	(c)	agrees that the Land Contracts (Actions) Act (Saskatchewan) shall have no application to any action (as defined in such Act) taken with respect to any Charge
herein; and 

  
 - 13 -

	 	(d)	agrees that the Limitation of Civil Rights Act (Saskatchewan) shall have no application to: 

 

	 	(i)	this Debenture or any instrument or agreement in implementation hereof, 

  

	 	(ii)	any Charge or security for the payment of money made, given or created pursuant to any of the foregoing instruments, 

 

	 	(iii)	any instrument or agreement entered into at any time hereafter by the Borrower renewing or extending or collateral to this Debenture or to any of the foregoing
instruments, or 

  

	 	(iv)	the rights, powers or remedies of the Bank or any receiver under any of the foregoing instruments; and 

 

	 	(e)	agrees that the provisions of Part IV (excepting only section 46) of the Saskatchewan Farm Security Act shall have no application to this Debenture, any
agreements, instruments or other security taken collateral thereto or in connection therewith, any mortgages or charges evidenced thereby, any renewals or extensions thereof or the rights, powers and remedies of the Bank or any other person under or
in relation to any of the foregoing, or any future security instruments whatsoever granted by the Borrower in favour of the Bank. 

28. Notwithstanding Section 31 of the Property Law Act (British Columbia) the doctrine of consolidation shall apply to this Debenture.

 29. For all purposes, including any application to register a crystallized floating charge under the Land Title Act (British Columbia)
against any real property, the floating charge created by the Debenture shall be crystallized and become a fixed charge upon the earliest of: 
  

	 	(a)	the occurrence of an Event of Default or the Bank making a demand for payment of any or all of the Principal Sum or any other monies owing by the Borrower to the Bank;
or 

  

	 	(b)	the Bank taking any action pursuant to this Debenture to enforce and realize upon the security constituted by this Debenture. 

and in any event upon the appointment by the Bank of a receiver pursuant to this Debenture. 

30. The Borrower and the Bank have not agreed to postpone the time of attachment and the Charge is intended to attach when this Debenture is signed by
the Borrower and, with respect to after-acquired property, when the Borrower acquires an interest in such property. 
 31. Nothing in this
Debenture or any other agreement between the Borrower and the Bank shall be construed as affecting or limiting the Bank’s right to make demand for payment of any or all indebtedness, liabilities and obligations of the Borrower to the Bank under
the Offering Letter or this Debenture. The Bank may, in its sole and absolute discretion, demand (whether or not a Default, as defined in the Offering Letter, or Event of Default has occurred) at any time payment in party or in full of all
indebtedness, liabilities and obligations of the Borrower to the Bank under the Offering Letter and this Debenture. 
 32. This Debenture is
freely assignable by the Bank and may be assigned by the Bank without the consent of or prior notice to the Borrower. 

  
 - 14 -

 33. This Debenture and all its provisions shall enure to the benefit of the Bank, its successors and assigns
and shall be binding upon the Borrower, its successors and assigns. 
 34. Wherever the singular or masculine or neuter is used in this
Debenture, the same shall be construed as meaning the plural or feminine or body corporate and vice versa, where the context so requires. 
 35.
The Borrower will assist the Bank to ensure that this Debenture and all supplementary and corrective instruments and all additional mortgage and security documents described in clause 7, and all documents, caveats, cautions, memorials, security
notices, financing statements and assurances in respect thereof are promptly filed and refiled, registered and re-registered and deposited and re-deposited in such manner, in such offices and places, and at such times and as often as may be required
by law or as may be necessary or desirable to perfect and preserve the Charge created or intended to be created hereby as a first priority Charge and the rights conferred or intended to be conferred upon the Bank by the Charge herein contained.

 36. The Borrower shall, as soon as practicable following receipt by the Borrower of a request by the Bank to provide fixed charge security
over the producing petroleum and natural gas properties of the Borrower (and in any event not more than five (5) Business Days (as defined in Appendix C of the Offering Letter) following such request), the Borrower shall furnish or cause to be
furnished to the Bank, at the sole cost and expense of the Borrower, fixed charge security over such producing and natural gas properties of the Borrower as are specified by the Bank, and in the form of a supplemental debenture to this Debenture if
so required by the Bank. 
 37. No waiver of any right of the Bank hereof shall be valid unless in writing delivered to the Borrower as herein
provided. No amendment hereunder shall be valid or effective for any purpose unless consented to in writing by the Bank. 
 38. The provisions
of the Offering Letter are not superseded by or merged in the execution or registration of this Debenture and the provisions of the Offering Letter shall remain in full force and effect until all of the conditions thereof to be observed or performed
by the Corporation have been fully paid and satisfied, provided however, that in the event of a conflict or inconsistency between the terms of the Offering Letter and the terms of this Debenture, the terms of the Offering Letter shall prevail.
Notwithstanding the foregoing, if there is a right or remedy of the Bank set out in this Debenture which is not set out or provided for in the Offering Letter, such additional right shall not constitute a conflict or inconsistency. 

39. This Debenture is a composite debenture that may from time to time cover property of the Borrower located in various Provinces of Canada and
elsewhere and, as to portions of the property located in such separate jurisdictions, this Debenture shall be a separate debenture enforceable against the Borrower without regard to the application of this Debenture to portions of the Mortgage
Premises located in other jurisdictions. All provisions hereof shall be applicable separately to the portions of the property located in each separate jurisdiction with the same effect as if a separate debenture with respect thereto had been
executed and delivered. Upon request of the Bank, the Borrower shall prepare at its expense a separate mortgage and/or debenture covering the portion of the property located in any such jurisdiction or jurisdictions, such separate mortgage and
debenture to be in registrable form with substantially the same covenants and remedies as set forth in this Debenture except for such modifications as shall be required by the fact that such mortgage and debenture relates only to the property of the
Borrower located in such jurisdiction or jurisdictions or as may be required by the Bank in connection 

  
 - 15 -

 
therewith. The Borrower hereby agrees to execute and deliver to the Bank all such separate mortgage and debentures, together with legal opinions, which may be so requested in form and substance
reasonably satisfactory to the Bank. At the request of the Bank, but at the expense of the Borrower, the Borrower shall record, register and file, and keep recorded, registered and filed, such separate mortgage and debentures to the extent required
hereby, so as to make the same valid, binding and enforceable obligations of the Borrower and to make effective the Charge created hereby and thereby. For greater certainty, the Bank shall be entitled to all rights and remedies available pursuant to
legislation in such other Provinces of Canada that is equivalent to the Personal Property Security Act (Alberta), including the Personal Property Security Act (Saskatchewan). 
 40. In the event that any term or provision in this Debenture shall, to any extent, be invalid or unenforceable, the remaining terms and provisions of this Debenture shall not be affected thereby and
shall be valid and enforceable to the fullest extent permitted by applicable law. 
 41. This Debenture shall be governed by and construed in
accordance with the laws in force in the Province of Alberta and for the purposes of any legal proceedings in respect of this Debenture, the Borrower irrevocably submits to the jurisdiction of the courts of the Province of Alberta. There shall be no
application of any conflict of laws rule which is inconsistent with this section. 
 IN WITNESS WHEREOF the Borrower
has executed this Debenture by its proper officers duly authorized in that behalf as of the 19th day of October, 2011. 
  

					
	LEGEND ENERGY CANADA LTD.	 	
			
	Per:	 	 /s/ Marshall Diamond - Goldberg
	 	c/s
	Name:	 	Marshall Diamond - Goldberg	 	
	Title:	 	President	 	
		
	ADDRESS OF BORROWER:	 	
		
	1750, 801 - 6th Avenue S.W.	 	
	Calgary AB T2P 3W2	 	

  
 - 16 -

 SCHEDULE “A” 

to the Debenture 
 Between LEGEND ENERGY CANADA LTD. (the “Borrower”) 
 and
NATIONAL BANK OF CANADA (the “Bank”) 
 pursuant to or in connection with the Offering Letter 

 
  
 Specifically Mortgaged Property 
 The Specifically Mortgaged Property referred to in clause
2(a) to the Debenture of Legend Energy Canada Ltd. (the “Borrower”) to the Bank to which this Schedule “A” forms part consists of all of the present and after-acquired right, title and interest of the Borrower in and to:

  

	 	(a)	all petroleum, natural gas and related hydrocarbons or minerals in place or in storage within, upon or under the lands from time to time set forth in Exhibit
“1” hereunto annexed (as the same may be amended, supplemented or replaced from time to time) and made part of this Schedule “A” (the interest of the undersigned therein being represented to be not less than that set forth in
Exhibit “1”); and 

  

	 	(b)	all rights, licences, agreements, leases and permits now owned or hereafter acquired by the undersigned to obtain and remove such hydrocarbons or minerals and to enter
upon and use any lands from or on which such hydrocarbons or minerals are or may be extracted, mined or produced; and 

  

	 	(c)	all the estate or interest of the undersigned in or to any of the said hydrocarbons or minerals, rights, licences, permits and lands; and 

 

	 	(d)	all the right, title and interest of the undersigned in the casing and equipment used or to be used in extracting, mining or producing or seeking to extract, mine or
produce and storing any of such hydrocarbons or minerals; 

 and in particular, but without limitation, the rights and interest of
the undersigned referred to in Exhibit “1” hereto. 

  
 - 17 -

 EXHIBIT “1” to SCHEDULE “A” 

to the Debenture 
 Between LEGEND ENERGY CANADA LTD. (the “Borrower”) 
 and
NATIONAL BANK OF CANADA (the “Bank”) 
 pursuant to or in connection with the Offering Letter 

 
  
  

											
	 WELLS
	 	 LANDS
	 	 LEASE
	 	 INTEREST
	 	 APPLICABLE
ROYALTIES
	 	 ROFR

		 		 		 		 		 	
		 		 		 		 		 	
		 		 		 		 		 	
		 		 		 		 		 	

 (This Exhibit “1” shall include and consist of such interests and rights of the Borrower as be pledged by it to
the Bank pursuant to the Offering Letter and the Negative Pledge and Undertaking dated the same date as this Debenture to which this Exhibit “1” forms part together with such other interests and rights of the Borrower as it and the Bank
may by agreement from time to time add hereto) 

 SCHEDULE 1 
 LANDS, LEASES, HYDROCARBON INTERESTS AND PRODUCTION ENCUMBRANCES 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 SCHEDULE 2 
 TANGIBLES 
 WELLS 

[NTD: Insert well ID] 

ABANDONED WELLS 

[NTD: Insert well ID] 

OTHER TANGIBLES 

[NTD: Insert description with land descriptor] 

									
	 UWI
	  	WI %	 	 	 Field

Name
	  	 Tangible Property

	100/06-35-013-16W4/2	  	 	80.00	% 	 	ENCHANT	  	Wellhead; 2 phase vertical seperator; Dry gas meter run; 100 bbl DW tank
	 102/14-30-014-20W4/0
	  	 	44.45	% 	 	LITTLE BOW	  	Wellhead; 2 phase vertical seperator; Dry gas meter run;
	100/15-25-014-21W4/0	  	 	50.00	% 	 	LITTLE BOW	  	Wellhead; 2 phase vertical seperator; Dry gas meter run; Plungerlift controller;100 bbl DW tank
	100/07-36-014-21W4/2	  	 	50.00	% 	 	LITTLE BOW	  	Wellhead; 2 phase vertical seperator; Dry gas meter run; 100 bbl DW tank; 200 hp compressor
	100/16-35-036-14W4/0	  	 	4.17	% 	 	PROVOST	  	Wellhead
	100/10-02-043-25W4/0	  	 	50.00	% 	 	PONOKA	  	Wellhead
	102/13-14-046-20W4/0	  	 	40.00	% 	 	JOARCAM	  	Wellhead; Hydrualic pumpjack; 400 bbl SW tank
	100/13-10-047-20W4/0	  	 	40.00	% 	 	JOARCAM	  	Wellhead; Hydrualic pumpjack; 400 bbl SW tank
	47-4W4 Unit	  	 	2.79	% 	 	WILDMERE	  	Multiple Wellheads, seperator, injectors, storage, metering, & treating Facilities
	100/12-13-049-25W4/3	  	 	100.00	% 	 	LEDUC-WOODBEND	  	Wellhead
	100/05-17-089-21W4/0	  	 	10.00	% 	 	LIEGE	  	Wellhead; Wet Gas Metering Unit
	100/11-18-089-21W4/0	  	 	10.00	% 	 	LIEGE	  	Wellhead; Wet Gas Metering Unit
	100/10-11-089-22W4/0	  	 	10.00	% 	 	LIEGE	  	Wellhead; Wet Gas Metering Unit
	100/06-13-089-22W4/0	  	 	10.00	% 	 	LIEGE	  	Wellhead; Wet Gas Metering Unit
	100/07/14-089-22W4/0	  	 	10.00	% 	 	LIEGE	  	Wellheaad; Injection Pump, Seperator, & Storage tank
	100/16-22-089-22W4/0	  	 	10.00	% 	 	LIEGE	  	Wellhead; Wet Gas Metering Unit
	102/10-23-089-22W4/0	  	 	10.00	% 	 	LIEGE	  	Wellhead; Wet Gas Metering Unit
	100/03-24-089-22W4/0	  	 	10.00	% 	 	LIEGE	  	Wellhead; Wet Gas Metering Unit
	100/05-30-038-02W5/0	  	 	91.50	% 	 	MEDICINE RIVER	  	Wellhead; 2 phase vertical seperator; Dry gas Zedi metering unit; Plungerlift controller; 400 bbl DW tank
	102/05-30-038-02W5/0	  	 	91.50	% 	 	MEDICINE RIVER	  	Wellhead; 2 phase vertical seperator; Dry gas Zedi metering unit; 400 bbl DW tank
	100/16-30-038-02W5/0	  	 	63.27	% 	 	MEDICINE RIVER	  	Wellhead; 3 phase vertical seperator; Dry gas meter run; Plungerlift controller; 210 bbl SW tank
	100/01-31-038-02W5/0	  	 	50.37	% 	 	MEDICINE RIVER	  	Wellhead; 2 phase vertical seperator; Dry gas meter run;100 bbl DW tank; 85 hp compressor
	102/06-31-038-02W5/0	  	 	100.00	% 	 	MEDICINE RIVER	  	Wellhead
	100/02-25-038-03W5/2	  	 	46.50	% 	 	MEDICINE RIVER	  	Wellhead; 2 phase vertical seperator; Dry gas meter run; 400 bbl DW tank
	102/02-25-038-03W5/2	  	 	72.83	% 	 	MEDICINE RIVER	  	Wellhead; 2 phase vertical seperator; Dry gas Zedi metering Unit; 400 bbl DW tank
	100/11-27-038-03W5/0	  	 	100.00	% 	 	MEDICINE RIVER	  	Wellhead
	102/06-21-039-01W5/2	  	 	75.00	% 	 	PREVO	  	Wellhead; 3 phase vertical seperator; Dry gas meter run; Plungerlift controller; 100 bbl DW tank
	100/03-27-059-10W5/0	  	 	100.00	% 	 	BLUERIDGE	  	Wellhead
	100/01-01-063-14W5/2	  	 	96.00	% 	 	SAKWATAMAU	  	Wellhead
	100/16-36-064-10W5/2	  	 	100.00	% 	 	SWAN HILLS	  	Wellhead; 2 phase vertical seperator; Conventional Pumpjack; 400 bbl DW tank
	100/10-27-066-15W5/2	  	 	25.00	% 	 	MEEKWAP	  	Wellhead
	104/10-36-067-24W5/2	  	 	25.00	% 	 	ANTE CREEK N	  	Wellhead
	100/02-11-082-24W5/2	  	 	100.00	% 	 	BERWYN	  	Wellhead; 3 phase vertical seperator; Dry gas Zedi metering unit; 400 bbl DW tank
	100/07-11-082-24W5/0	  	 	100.00	% 	 	BERWYN	  	Wellhead; 3 phase vertical seperator; Dry gas Zedi metering unit; 400 bbl DW tank
	102/10-17-084-22W5/0	  	 	75.00	% 	 	GRIMSHAW	  	Wellhead
	100/09-14-094-25W5/0	  	 	100.00	% 	 	HOTCHKISS	  	Wellhead
	100/12-16-083-12W6/0	  	 	31.60	% 	 	BOUNDARY LAKES	  	Wellhead; 2 phase vertical seperator; Dry gas Zedi metering unit; 100 bbl DW tank
	100/07-17-083-12W6/4	  	 	40.00	% 	 	BOUNDARY LAKES	  	Wellhead; 2 phase vertical seperator; Dry gas Zedi metering unit; 100 bbl DW tank
	100/02-14-083-13W6/0	  	 	40.00	% 	 	BOUNDARY LAKES	  	Wellhead; 2 phase vertical seperator; Dry gas Zedi metering unit; 100 bbl DW tank
	100/11-15-083-13W6/0	  	 	26.60	% 	 	BOUNDARY LAKES	  	Wellhead; 2 phase vertical seperator; Dry gas Zedi metering unit; 100 bbl DW tank
	100/14-05-083-18W6/0	  	 	7.50	% 	 	FT ST JOHN	  	Wellhead; 2 phase vertical seperator; Dry gas meter run; 100 bbl DW tank
	100/14-07-084-13W6/0	  	 	1.22	% 	 	BOUNDARY LK	  	Wellhead; 2 phase vertical seperator; Conventional Pumpjack; 400 bbl DW tank
	100/16-05-084-14W6/0	  	 	10.87	% 	 	BOUNDARY LK	  	Wellhead; 2 phase vertical seperator; Conventional Pumpjack; 400 bbl DW tank

									
	100/06-07-084-14W6/0	  	 	13.29	% 	 	BOUNDARY LK	  	Wellhead; 2 phase vertical seperator; Conventional Pumpjack; 400 bbl SW tank
	100/08-08-084-14W6/0	  	 	6.64	% 	 	BOUNDARY LK	  	Wellhead; 2 phase vertical seperator; Conventional Pumpjack; 400 bbl SW tank
	100/06-09-084-14W6/0	  	 	8.01	% 	 	BOUNDARY LK	  	Wellhead; 2 phase vertical seperator; Conventional Pumpjack; 400 bbl SW tank
	100/16-19-085-23W6/0	  	 	90.00	% 	 	INGA	  	Wellhead; Conventional Pumpjack
	100/01-30-110-07W6/0	  	 	50.00	% 	 	RAINBOW	  	Wellhead
	200/C-018-E/094-A-15/0	  	 	50.00	% 	 	MAPLE	  	Wellhead
	200/D-079-F/094-H-03/0	  	 	1.75	% 	 	UMBACH	  	Wellhead; 2 phase vertical seperator; Dry gas meter run; 100 bbl DW tank
	200/C-052-F/094-J-10/0	  	 	25.00	% 	 	CLARKE LAKE	  	Wellhead; Wet Gas SCADA metering unit
	200/C-054-F/094-J-10/0	  	 	18.75	% 	 	CLARKE LAKE	  	Wellhead; Wet Gas SCADA metering unit
	200/D-054-G/094-J-10/2	  	 	16.66	% 	 	CLARKE LAKE	  	Wellhead; Wet Gas SCADA metering unit
	200/A-065-G/094-J-10/0	  	 	16.66	% 	 	CLARKE LAKE	  	Wellhead; Injection pump
	200/D-066-G/094-J-10/0	  	 	9.38	% 	 	CLARKE LAKE	  	Wellhead; Wet Gas SCADA metering unit
	200/B-074-G/094-J-10/2	  	 	16.66	% 	 	CLARKE LAKE	  	Wellhead; Injection pumpPledge by Legend Energy Canada Ltd. dated October 19, 2011

 Exhibit 10.14 
 PLEDGE 
 WHEREAS LEGEND ENERGY CANADA LTD. (the
“Borrower”), a corporation incorporated under the laws of the Province of Alberta, has executed a fixed and floating charge demand debenture dated as of the date of this Pledge payable to the NATIONAL BANK OF CANADA (the
“Bank”) in the principal amount of TWENTY-FIVE MILLION ($25,000,000.00) DOLLARS (hereinafter referred to as the “Debenture”), the Borrower, in consideration of the premises and other good and valuable
consideration the receipt and sufficiency of which are hereby acknowledged, hereby covenants and agrees with the Bank as follows: 
  

	1.	The Debenture is hereby assigned, transferred, pledged and hypothecated to and in favour of the Bank as general and continuing collateral security for the payment and
fulfillment of all debts, liabilities and obligations, present and future, direct or indirect, matured or not, of the Borrower to the Bank of whatsoever nature and kind and whether arising from any agreement, offering letter (including the offering
letter dated August 12, 2011 from the Bank and accepted by the Borrower on August 15, 2011 as same may be amended, revised, modified, supplemented, restated or replaced from time to time) guarantee or other dealings between the Bank and
the Borrower or from any agreement or dealings between the Bank and any third party by which the Bank may be or become in any manner whatsoever a creditor of the Borrower or howsoever otherwise arising and whether the Borrower be bound alone or with
another or others and whether as principal or surety including without limitation any indebtedness or liability pursuant to any revolving demand credit agreements and/or promissory notes granted from time to time in connection therewith (the
“Liabilities”). 

  

	2.	In the event of any default in payment of any part of the monies secured under the Debenture or in the observance or performance of any other obligation of the
undersigned to the Bank, including those contained in the Debenture, the Bank may at any time during the continuance of any such default realize upon the Debenture by sale, transfer or delivery, or exercise and enforce all the rights and remedies of
a holder of the Debenture as if the Bank were absolute owner thereof, without notice to or control by the Borrower, and any such remedy may be exercised separately or in combination and shall be in addition to and not in substitution for any other
rights of the Bank however created, provided that the Bank shall not be bound to exercise any such right or remedy. 

  

	3.	The records of the Bank as to payment of the debts, liabilities and obligations being in default or of any demand in payment having been made will be prima facie
evidence of such default or demand. 

  

	4.	The Bank may grant extensions of time and other indulgences, take and give up securities, accept compositions, grant releases and discharges and otherwise deal with the
Borrower and all other parties and securities as the Bank may see fit, all without prejudice to the debts, liabilities and obligations of the Borrower under the Debenture, or the Bank’s rights in respect of the Debenture and the security
thereby and hereby constituted. 

	5.	The proceeds of the Debenture may be applied by the Bank on account of such part of the Liabilities as it chooses without prejudice to the Bank’s claim upon the
Borrower for any deficiency. 

  

	6.	Payment by the Borrower to the Bank of interest as may be provided for in any agreement between the Borrower and the Bank for any period in respect of the Liabilities
shall be deemed to be payment in full satisfaction of any interest payment due and payable by the Borrower for the same period provided for under the terms of the Debenture. 

 

	7.	During the currency of the Debenture and so long as the Debenture is held as continuing security the Borrower will duly observe and perform all its covenants and
agreements in favour of the Bank contained in the Debenture. 

  

	8.	Notwithstanding the principal sum of the Debenture and the interest rate provided for therein on such principal sum, the obligations secured by the deposit thereof to
the Bank pursuant hereto shall not exceed the amount of the Liabilities from time to time owing by the Borrower, together with the amounts, other than the principal sum and interest on the principal sum, from time to time owing by the Borrower as
provided in the Debenture. 

  

	9.	The Debenture and the security hereby constituted are in addition to and not in substitution for any other security now or hereafter held by the Bank and shall not
operate as a merger of any simple contract debt or suspend the fulfillment of, or affect the rights, remedies or powers of the Bank in respect of any present or future debts, liabilities or obligations of the Borrower to the Bank or any securities
now or hereafter held by the Bank for the payment or fulfillment thereof, and no judgment recovered by the Bank shall operate by way of merger or in any way affect the security of the Debenture. 

 

	10.	Upon full, final and indefeasible payment of all of the Liabilities and the cancellation of any further obligations of the Bank to extend credit in respect of the
Liabilities, all obligations of the Borrower in respect of the Debenture, including without limitation the obligation to make payments of principal and interest thereunder, shall terminate, and upon the request of the Borrower, the Bank shall
deliver the Debenture to the Borrower for cancellation. 

  

	11.	This agreement shall be binding upon the Borrower and its successors and assigns and shall enure to the benefit of the Bank and its successors and assigns.

 IN WITNESS WHEREOF the Borrower has caused this agreement to be executed under its
corporate seal attested by the hand of its proper officer duly authorized in that behalf as of the l9th day of October, 2011. 
  

					
	LEGEND ENERGY CANADA LTD.	 	
			
	Per:	 	 /s/ Jim Vandeberg
	 	c/s
	Name:	 	Jim Vandeberg	 	
	Title:	 	Chief Financial Officer	 	

  
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