Document:

EX-10.1

 Exhibit 10.1 

FIFTH AMENDMENT 

TO 

RECEIVABLES PURCHASE AGREEMENT 

THIS FIFTH AMENDMENT TO RECEIVABLES PURCHASE
AGREEMENT, dated as of December 9, 2016 (this “Amendment”), to the Receivables Purchase Agreement, dated as of January 10, 2013, as amended by the First Amendment to Receivables Purchase Agreement, dated as
of August 20, 2013, the Second Amendment to Receivables Purchase Agreement, dated as of December 13, 2013, the Third Amendment to Receivables Purchase Agreement, dated as of December 12, 2014 and the Fourth Amendment to Receivables
Purchase Agreement, dated as of December 11, 2015 (as so amended, and as otherwise modified, supplemented, amended or amended and restated from time to time, the “Agreement”), each by and among Targa Receivables LLC, as seller
(the “Seller”), TARGA RESOURCES PARTNERS LP (“Targa”), as servicer (in such capacity, together with its successors and permitted assigns in such capacity and any
successor servicer designated in accordance with the terms of the Agreement, the “Servicer”), the various CONDUIT PURCHASERS party thereto from time to time, the various COMMITTED
PURCHASERS party thereto from time to time, the various PURCHASER AGENTS party thereto from time to time, the various LC Participants party thereto from time to time, and PNC BANK,
NATIONAL ASSOCIATION, as administrator (in such capacity, together with its successors and assigns in such capacity, the “Administrator”) and as LC BANK, is by and among the parties
listed above. Unless otherwise defined in this Amendment, capitalized terms shall have the meanings assigned to such terms in the Agreement. 

R E C I T A L
S 
 WHEREAS, the Seller has requested that the Administrator and the Purchasers consent
to an increase in the Purchase Limit by the addition of a new Purchaser Group (the “New Purchaser Group”) consisting of Wells Fargo Bank, National Association, as Committed Purchaser (in such capacity, the “New Committed
Purchaser”), LC Participant (in such capacity, the “New LC Participant”) and as Purchaser Agent (in such capacity, the “New Purchaser Agent”); 

WHEREAS, subject to the terms hereof, the parties to the Agreement wish to make certain amendments to the Agreement and to add
the New Purchaser Group as parties thereto as provided herein. 
 NOW THEREFORE, in consideration of the
premises and mutual covenants contained herein, and for good and sufficient consideration, the receipt of which is hereby acknowledged, the parties hereto, intending to be legally bound, do hereby agree as follows: 

Section 1. Amendments to the Agreement. 

1.1. The Commitments of each Committed Purchaser set forth on the signature pages to the Agreement are amended and restated in their entirety
to be the Commitments set forth on the signatures pages of such Committed Purchaser to this Amendment. 

 1.2. The LC Sublimit Commitments of each LC Bank and LC Participant set forth on the signature
pages to the Agreement are amended and restated in their entirety to be the LC Sublimit Commitments set forth on the signatures pages of such LC Bank and LC Participant to this Amendment. 

1.3. The defined term “Facility Termination Date” appearing in Exhibit I to the Agreement is hereby amended by
deleting the date “December 9, 2016” therein and replacing it with “December 8, 2017”. 
 1.4. The following defined
terms appearing in Exhibit I to the Agreement are hereby amended and restated to read as follows: 
 “Contra
Deduction Amount” means, on any day, an amount equal to (A) $0 or (B) if either a Level 1 Ratings Event has occurred and is continuing or the Days Payable Outstanding as of such day is greater than 18 days, the sum of all
amounts determined as follows: for each Obligor, the aggregate amounts payable, if any, by the applicable Originator to such Obligor as of the last day of the most recently ended Fiscal Month other than (i) any such amounts payable subject to a
Net-Out Agreement and (ii) any such amounts payable asserted by such Obligor as an offset to the Outstanding Balance of Eligible Receivables of such Obligor; provided, that if, at any time, the aggregate amounts payable by the applicable
Originator to such Obligor equal or exceed the Unsupported Outstanding Balance of Eligible Receivables of such Obligor at such time, then the amount determined pursuant to this defined term for such Obligor shall be the greater of (x) $0 and
(y) the Unsupported Outstanding Balance of Eligible Receivables of such Obligor at such time. 
 “Majority
Purchaser Agents” means, at any time, Purchaser Agents whose aggregate Ratable Shares exceed 50%; provided, that so long as there is more than one Purchaser Group, “Majority Purchaser Agents” shall mean a minimum of
two Purchaser Agents. 
 “Purchase Limit” means $275,000,000, as such amount may be reduced pursuant to
Section 1.1(c) or in connection with any Exiting Purchaser pursuant to Section 1.22, or increased pursuant to Section 1.2(e) or (f). References to the unused portion of the Purchase Limit shall mean, at any
time, the Purchase Limit minus the sum of the then outstanding Aggregate Capital plus the LC Participation Amount. 

“Targa Midstream Contribution Agreement” means the Receivables Contribution Agreement, dated as of
December 11, 

  
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2015, between Targa Midstream Services LLC and Targa Gas Marketing LLC, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

1.5. The following defined terms are hereby added to Exhibit I of the Agreement in the appropriate alphabetical sequence to read as
follows: 
 “Contra Payable” means any amount constituting a payable owing by Targa Liquids Marketing and
Trade LLC to an Obligor. 
 “Days Payable Outstanding” means, as of the last day of each Fiscal Month,
(i) so long as the aggregate amount of all Contra Payables paid during such Fiscal Month was $25,000,000 or greater, the ratio of (a) the aggregate sum with respect to each Contra Payable paid in such Fiscal Month of the product of
(x) the number of days between the invoice date of each such Contra Payable and the date that payment under such Contra Payable was made or, if payment has not yet been made, the later of the due date of such payment and the last day of such
Fiscal Month, and (y) the amount of such Contra Payable divided by (b) the aggregate amount of all Contra Payables accrued whether paid or unpaid in such Fiscal Month or (ii) if the aggregate amount of all Contra Payables paid
during such Fiscal Month was less than $25,000,000, the ratio of (a) the aggregate sum with respect to each Contra Payable paid in the two Fiscal Months then ended of the product of (x) the number of days between the invoice date of each
such Contra Payable and the date that payment under such Contra Payable was made, and (y) the amount of such Contra Payable divided by (b) the aggregate amount of all Contra Payables accrued whether paid or unpaid during the two
Fiscal Months then ended. 
 1.6 Section 6.1 is hereby amended and restated in its entirety to read as follows: 

Section 6.1 Amendments, Etc. No amendment or waiver of any provision of this Agreement or consent to any departure by the Seller or
the Servicer therefrom, shall be effective unless in a writing signed by the Majority Purchaser Agents and, in the case of an amendment, signed by the Seller and the Servicer; and then such amendment, waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given; provided, that, to the extent required by the securitization program of any Conduit Purchaser, no material amendment shall be effective until the Rating Agency Condition shall
have been satisfied with respect thereto (the Purchaser Agent for each Conduit Purchaser hereby agrees to provide executed copies of any 

  
 -3- 

 
material amendment to or waiver of any provision of this Agreement to the Rating Agencies); provided, further that no amendment, waiver or consent shall affect the rights or duties
of the Administrator unless signed by the Administrator; provided, further that no amendment, waiver or consent shall affect the rights or duties of the LC Bank or any LC Participant unless signed by the LC Bank or such LC Participant,
as applicable; provided, further that no such amendment, waiver or consent shall, unless in a writing signed by each Purchaser, (A) extend the date of any payment or deposit of Collections by the Seller or the Servicer,
(B) reduce the rate or extend the time of payment of Discount, (C) reduce any fees payable to the Administrator, any Purchaser Agent or any Purchaser pursuant to the Fee Letter, (D) change the amount of Capital of any Purchaser, any
Purchaser’s pro rata share of the Purchased Interest or any Committed Purchaser’s Commitment or any LC Participant’s LC Sublimit Commitment, (E) amend, modify or waive any provision of the definition of “Majority
Purchaser Agents” or this Section 6.1, (F) consent to or permit the assignment or transfer by the Seller or the Servicer of any of its rights and obligations under this Agreement, (G) change the definition of
“Defaulted Receivable,” “Delinquent Receivable,” “Dilution Reserve Percentage,” “Eligible Receivable,” “Excess Concentration Amount,” “Facility Termination
Date” (other than an extension of such date in accordance with clause (H) below or in accordance with Section 1.22), “Look Through Effective Date,” “Loss Reserve Percentage,” “Net
Receivables Pool Balance,” “Total Reserves,” “Termination Event,” or Yield Reserve Percentage,” (H) extend the “Facility Termination Date” or increase the “Special
Obligor Limit” set forth in Schedule III or (I) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (H) above in a manner that would
circumvent the intention of the restrictions set forth in such clauses. In addition to the foregoing, the Seller and the Administrator agree not to amend the Sale Agreement without the consent of the Majority Purchaser Agents. Without limiting any
other provision of this Section 6.1, to the extent required pursuant to the securitization program of any Conduit Purchaser, the parties to this Agreement: (i) shall not, without obtaining a confirmation of the then-current rating
of the Notes of such Conduit Purchaser, waive any of the representations set forth in Section 3 to Exhibit III; (ii) shall provide the Ratings Agencies with prompt written notice of any breach of any representations set forth
in Section 3 to Exhibit III, and (iii) shall not, without obtaining a confirmation of the then-current rating of such Notes (as determined after any adjustment or withdrawal of the ratings following notice of such breach)
waive a breach of any 

  
 -4- 

 
of the representations set forth in Section 3 to Exhibit III. No failure on the part of the Purchasers, the Purchaser Agents or the Administrator to exercise, and no delay in
exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. 

Section 2. Representations and Warranties of the Seller and Targa. (i) The Seller makes the representations and warranties
contained in Sections 1 and 3 of Exhibit III to the Agreement, and (ii) Targa makes the representations and warranties in Section 2 of Exhibit III to the Agreement, in each case, as of the Effective Date (as defined below) (unless any such
representation or warranty expressly indicates it is being made as of another specific date), both before and immediately after giving effect to this Amendment. 

Section 3. Agreement in Full Force and Effect, as Amended. All of the terms and conditions of the Agreement shall remain in full
force and effect, as amended by this Amendment. All references to the Agreement in the Agreement or any other document or instrument shall be deemed to mean the Agreement, as amended by this Amendment. This Amendment shall not constitute a novation
of the Agreement, but shall constitute an amendment with respect thereto. The parties hereto agree to be bound by the terms and obligations of the Agreement, as amended by this Amendment, as though the terms and obligations of the Agreement were set
forth herein. 
 Section 4. Effectiveness. This Amendment shall become effective in accordance with its terms as of the date
hereof (the “Effective Date”) upon receipt by the Administrator of: 
 (i) counterparts of this Amendment
executed by the Seller, the Servicer, the Administrator, each Purchaser Agent, each LC Bank, each LC Participant and each Purchaser; 

(ii) a duly executed copy of the Fourth Amended and Restated Fee Letter dated as of the date hereof, together with payment of
the fees required by the terms thereof to be paid on the date hereof; 
 (iii) a duly executed copy of the Administrator Fee
Letter, dated as of the date hereof; 
 (iv) reliance letters of Bracewell LLP with respect to (a) that certain opinion
letter dated as of January 10, 2013 regarding bankruptcy matters, (b) that certain opinion letter dated as of December 12, 2014 regarding bankruptcy matters relating to Targa Gas Marketing LLC, and (c) that certain opinion letter
dated as of December 11, 2015 regarding certain bankruptcy matters relating to Targa Midstream Services LLC; 
 (v) a
good standing certificate from the Secretary of State of Delaware with respect to the Seller; and 

  
 -5- 

 (vi) a certificate from an authorized officer of the Seller certifying that the
resolutions previously certified to the Purchasers remain in force. 
 Section 5. New Purchaser Group. (a) The New
Committed Purchaser agrees to become a Committed Purchaser under the Agreement with a Commitment in an amount set forth under its signature hereto. The New Committed Purchaser and each other Purchaser under the Agreement agree to make Funded
Purchases based on their Commitments as in effect on the date hereof and shall make all appropriate adjustments in Funded Purchases under the Agreement for periods prior to the date hereof (such Funded Purchases shall be arranged through the
Administrator and each Purchaser hereby agrees to execute such further instruments and documents, if any, as the Administrator may reasonably request in connection therewith). 

(b) The New LC Participant agrees to become an LC Participant under the Agreement with an LC Sublimit Commitment in an amount set forth under
its signature hereto. The New LC Participant and each other LC Participant and LC Bank under the Agreement agree to make participation advances (which shall be deemed to be Funded Purchases) based on their LC Sublimit Commitments as in effect on the
date hereof and shall make all appropriate adjustments in participation advances under the Agreement for periods prior to the date hereof (such participation advances shall be arranged through the Administrator and each LC Participant and LC Bank
hereby agrees to execute such further instruments and documents, if any, as the Administrator may reasonably request in connection therewith). 

(c) Each member of the New Purchaser Group hereby confirms that it has received a copy of the Transaction Documents and the exhibits related
thereto, together with copies of the documents which were required to be delivered under the Agreement as a condition to the initial Purchase thereunder. Each member of the New Purchaser Group acknowledges and agrees that it has made and will
continue to make, independently and without reliance upon the Administrator or any other Purchaser and based on such documents and information as it has deemed appropriate, its own credit analysis and decisions relating to the Agreement. Each member
of the New Purchaser Group further acknowledges and agrees that the Administrator has not made any representations or warranties about the credit worthiness of the Seller or any other party to the Agreement or any other Transaction Document or with
respect to the legality, validity, sufficiency or enforceability of the Agreement or any other Transaction Document or the value of any security therefor. 

(c) Upon execution and delivery of this Amendment by the Seller, each Purchaser Agent and each member of the New Purchaser Group, and receipt
by the Administrator and Seller of counterparts of this Amendment (whether by facsimile or otherwise) executed by each of the parties hereto, (i) each Purchaser Agent shall be deemed to have consented to the addition of the New Purchaser Group
to the Agreement and (ii) each member of the New Purchaser Group shall become a party to, and have the rights and obligations of Purchasers or LC Participants, as applicable, under the Agreement. 

(d) The New Purchaser Agent shall deliver to the Administrator and Seller such information and shall complete such forms as are reasonably
requested of such Person by the Administrator and Seller. 

  
 -6- 

 Section 6. Counterparts. This Amendment may be executed in any number of counterparts
and by separate parties hereto on separate counterparts (including by way of facsimile or electronic transmission), each of which when executed shall be deemed an original, but all such counterparts taken together shall constitute one and the same
instrument. 
 Section 7. Governing Law. THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE LAWS OF
THE STATE OF NEW YORK WITHOUT REGARD TO ANY OTHERWISE APPLICABLE CONFLICTS OF LAW PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO). 

[SIGNATURE PAGES FOLLOW] 

  
 -7- 

 IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be executed and delivered by their duly authorized officers as of the date hereof. 
  

			
	TARGA RECEIVABLES LLC, as Seller
		
	By:	 	 /s/ Chris McEwan

		 	Chris McEwan
		 	Vice President and Treasurer

  

			
	Address:	 	 1000 Louisiana, Suite 4300
 Houston, Texas
77002
 Attention: Vice President and Treasurer
 Telephone:
(713) 584-1375
 Facsimile: (713) 584-1523
 Email:
cmcewan@targaresources.com

 [Signature Page to Fifth Amendment to 

Targa Receivables LLC Receivables Purchase Agreement] 

 
			
	TARGA RESOURCES PARTNERS LP, as Servicer
		
	By:	 	Targa Resources GP LLC, its general partner
		
	By:	 	 /s/ Chris McEwan

		 	Chris McEwan
		 	Vice President and Treasurer

  

			
	Address:	 	 1000 Louisiana, Suite 4300
 Houston, Texas
77002
 Attention: Vice President and Treasurer
 Telephone:
(713) 584-1375
 Facsimile: (713) 584-1523
 Email:
cmcewan@targaresources.com

  
 [Signature Page to Fifth
Amendment to 
 Targa Receivables LLC Receivables Purchase Agreement] 

 
					
	 PNC BANK, NATIONAL ASSOCIATION,

    as Administrator

		
	By:	 	 /s/ Eric Bruno

		 	Name:	 	Eric Bruno
		 	Title:	 	Senior Vice President

  

			
	Address:	 	 PNC Bank, National Association
 300 Fifth
Avenue
 Pittsburgh, Pennsylvania 15222
 Attention: Brian M.
Stanley
 Telephone: (412) 768-2001
 Facsimile:
(412)762-9184
 Email: ABFAdmin@pnc.com

  
 [Signature Page to Fifth
Amendment to 
 Targa Receivables LLC Receivables Purchase Agreement] 

 
					
	THE PURCHASER GROUPS:
	
	PNC BANK, NATIONAL ASSOCIATION, as Purchaser Agent for the PNC Purchaser Group and as a Committed Purchaser
		
	By:	 	 /s/ Eric Bruno

		 	Name:	 	Eric Bruno
		 	Title:	 	Senior Vice President
		
	Address:	 	 PNC Bank, National Association
 300 Fifth
Avenue
 Pittsburgh, Pennsylvania 15222
 Attention: Brian M.
Stanley
 Telephone: (412) 768-2001
 Facsimile:
(412)762-9184
 Email: ABFAdmin@pnc.com

	
	Commitment: $175,000,000
	
	 PNC BANK, NATIONAL ASSOCIATION,

as an LC Bank

		
	By:	 	 /s/ Eric Bruno

		 	Name:	 	Eric Bruno
		 	Title:	 	Senior Vice President
		
	Address:	 	 PNC Bank, National Association
 300 Fifth
Avenue
 Pittsburgh, Pennsylvania 15222
 Attention: Brian M.
Stanley
 Telephone: (412) 768-2001
 Facsimile:
(412)762-9184
 Email: ABFAdmin@pnc.com

	
	LC Sublimit Commitment: $63,636,363.64

  
 [Signature Page to Fifth
Amendment to 
 Targa Receivables LLC Receivables Purchase Agreement] 

 
					
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Purchaser Agent for the Wells Fargo Purchaser Group and as a Committed Purchaser
		
	By:	 	 /s/ Eero Maki

		 	Name:	 	Eero Maki
		 	Title:	 	Managing Director
		
	Address:	 	 1100 Abernathy Road
 Suite 1600

Atlanta, GA 30328

Attention:                        
                                      

Telephone:                        
                                    

Facsimile:                        
                                      

Email:                         
                                         
   

	
	Commitment: $100,000,000
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as an LC Participant
		
	By:	 	 /s/ Eero Maki

		 	Name:	 	Eero Maki
		 	Title:	 	Managing Director
		
	Address:	 	See Above
		 	  

		 	  

		 	
Attention:                        
                                      

Telephone:                        
                                    

Facsimile:                        
                                      

Email:                         
                                         
   

	
	LC Sublimit Commitment: $36,363,636.36

  
 [Signature Page to Fifth
Amendment to 
 Targa Receivables LLC Receivables Purchase Agreement]Exhibit 10.1

 

PURCHASE & SALE AGREEMENT

 

This PURCHASE &
SALE AGREEMENT (this “Agreement”) is entered into and effective as of the 30th day of December, 2016
(the “Effective Date”), between Total Belief Limited (“Seller”), a British Virgin Islands limited liability
company with its principal office at Room 1402, 14/F, New World Tower I, 16-18 Queen’s Road Central, Hong Kong and a direct
wholly-owned subsidiary of New Times Energy Corporation Limited (“NTE”), a Bermuda limited liability company whose
shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited, and Foothills Exploration Operating, Inc. (“Buyer”),
a corporation organized under the laws of Nevada, with its principal office at 633 17th Street, Suite 1700-A, Denver,
Colorado 80202 In this Agreement, Buyer, and Seller sometimes are referred to individually as a “Party” or collectively
as the “Parties”.

 

RECITALS

 

WHEREAS, Seller
owns the following companies: (1) Clear Elite Holdings Limited (“CEH”), a British Virgin Islands limited liability
company, a direct wholly-owned subsidiary of Seller and owner of 100% of the membership interests of Golden Giants Limited, a British
Virgin Islands limited liability company (“GGL”), which owns (a) 100% of the membership interests of NTE-Utah, LLC,
a Delaware limited liability company (“NTE-Utah”), which owns 100% of the membership interests of Tiger Energy Operating,
LLC (“TEO”), a Nevada limited liability company, which owns 100% of the membership interests of Tiger Energy Mineral
Leasing, LLC (“TEML”), a Nevada limited liability company, with owned assets described and set forth on Exhibit
A attached hereto and incorporated herein by reference, and (b) 750 units of membership interests (representing 75% total equity
ownership) of Tiger Energy Partners International, LLC (“TEPI”), a Nevada limited liability company with owned assets
described and set forth on Exhibit B attached hereto and incorporated herein by reference; (2) Prominent Sino Holdings Limited
(“PSH”) and (3) Value Train Investments Limited (“VTI”), each a British Virgin Islands limited liability
company, and each a direct wholly-owned subsidiary of Seller, and that together own 55.63% of the shares of Grey Hawk Exploration,
Inc. (“Grey Hawk”), a British Columbia, Canada company, constituting ownership of 13,166,667 Grey Hawk common shares
(without value) (the “GH Shares”), which shares are described and set forth on Exhibit C as attached hereto
and incorporated herein by reference. CEH (inclusive of NTE-Utah and of TEPI), PSH and VTI are hereinafter collectively referred
to as the “Target Companies” and each individually as a “Target Company”;

 

WHEREAS, Seller’s
interests in the Target Companies constitute: 100 ordinary shares (representing 100% total equity ownership) of CEH; 100 ordinary
shares (representing 100% total equity ownership) of PSH; and 100 ordinary shares (representing 100% total equity ownership) of
VTI (collectively the “Membership Interests”);

 

WHEREAS, no other
entity or person has any option or right to purchase or otherwise acquire any equity interest or ownership right in any of the
Target Companies or their assets except as may be otherwise herein expressly disclosed;

 

    	 	1	 

     

    

 

 

WHEREAS, Seller
desires to sell, transfer and convey to Buyer and Buyer desires to purchase the entirety of Seller’s Membership Interests
in the Target Companies, constituting all of the ownership interest and claims that Seller has or may have in the Target Companies
upon the terms and conditions herein set forth (the “Transaction”);

 

WHEREAS, Buyer desires
to pay for the Membership Interests, and Seller desires to accept payment for the Membership Interests; and

 

WHEREAS, Seller
and Buyer desire to make the representations, warranties and covenants contained in this Agreement in connection with the Transaction.

 

NOW, THEREFORE,
in consideration of the premises, and of the representations, warranties and covenants contained herein, and for other good and
valuable consideration the receipt and sufficiency of which hereby are acknowledged, the Parties hereto agree as follows:

 

SECTION TWO

CONSIDERATION

 

As consideration for the
Membership Interests, at Closing, or before, Buyer shall pay or cause to be paid to Seller a total purchase price of Ten Million
Seven Hundred Fifty Thousand and No/100s US Dollars ($10,750,000) (the “Purchase Price”) delivered as follows:

 

		(a)	Concurrent with Closing, Buyer will, by wire transfer of promptly available funds, pay or cause
to be paid to Seller a cash payment of Seventy-Five Thousand and No/100s US Dollars ($75,000) to such account or accounts as Seller
designates in writing. Following execution of this Agreement, but not later than ten (10) Business Days following the Closing Date,
Buyer will, by wire transfer of promptly available funds, pay or cause to be paid to Seller, a cash payment of Six Hundred Seventy-Five
Thousand and No/100s US Dollars ($675,000), to such account or accounts as Seller designates in writing, For purposes of this Agreement,
“Business Day” means any day other than a Saturday, Sunday, legal holiday in the State of Colorado or day on which
banking institutions in the State of Colorado are authorized or obligated by law to close.

 

		(b)	Four Million and No/100s US Dollars ($4,000,000) of the Purchase Price shall be paid to Seller
not later than ten (10) business days following the Closing Date in the form of 2,083,334 shares of common stock (the “FEI
Common Stock”) of Buyer’s publicly-traded parent, Foothills Exploration, Inc. (OTC.QB: FTXP) (“FEI”), the
Parties jointly agreeing that the quantity of FEI Common Stock is based upon a market price per share of One and 92/100s US Dollars
($1.92).

 

    	 	2	 

     

    

 

		(c)	At Closing, Buyer shall issue and deliver to Seller, a promissory note in the form attached hereto
as Exhibit D in the principal amount of Six Million and No/100s US Dollars ($6,000,000) (the “Buyer Promissory Note”).
The Buyer Promissory Note shall have a term of eighteen (18) months from the Closing Date, shall accrue no interest during its
term and shall be due and payable upon maturity. Buyer shall acquire the Target Companies subject to their respective debt obligations
(excluding any and all obligations under that certain promissory note, dated as of 28 July 2016, that is attached hereto as Exhibit
E, as issued by GGL to Novastar Capital Limited, a British Virgin Islands limited liability company (“Novastar”),
in the original principal amount of US$3,422,353 (the “GGL Promissory Note”)). Upon delivery of the Buyer Promissory
Note to Seller, Novastar and Seller have agreed that the GGL Promissory Note shall be deemed to have been satisfied in full and
wholly discharged as to GGL, with Novastar looking solely to Seller for any payment thereon. See Exhibit F attached hereto.

 

SECTION THREE

CLOSING

 

The closing of the Transaction (the “Closing”)
provided for in this Agreement shall be at the offices of Husch Blackwell LLP, attorneys for Buyer, at 1700 Lincoln Street, Suite
4700, Denver, Colorado 80203, as soon as practicable after all of the Conditions Precedent set forth in Sections Six and Seven
of this Agreement have been satisfied (the “Closing Date”), or at such other place and time as agreed to by the Parties. 
Seller’s interests in the Target Companies shall be deemed in all respects transferred, conveyed, assigned and sold to and
owned by Buyer as of the Closing Date and the Parties shall execute and deliver such further instruments or documents to effect
the intent and agreement of the Parties as may be appropriate.

 

SECTION FOUR

REPRESENTATIONS AND WARRANTIES OF SELLER

 

Seller represents and warrants to Buyer that:

 

		(d)	Seller, at the Closing Date, shall have full and valid title to the Membership Interests to be
delivered by Seller, and there will be no existing impediment to the sale and transfer of those Membership Interests. On delivery
of the Membership Interests to the Buyer as contemplated under this Agreement, the Membership Interests shall be free and clear
of all liens, charges, claims and encumbrances, and shall be legally issued, fully paid, and nonassessable shares or membership
interests of the Target Companies. The Membership Interests shall constitute all of the issued and outstanding Membership Interests
of each of the Target Companies existing as of the Closing Date and no other entity or person shall have any option or other right
to acquire any equity interest in or to the Target Companies.

 

		(e)	Seller has the full and sole right, power, legal capacity, and authority to enter into this Agreement
and to sell and to deliver to Buyer the Membership Interests and Seller has no other ownership in the Target Companies other than
the Membership Interests and has no claims against the any of the Target Companies except as may be herein set forth.

 

		(f)	Seller is a British Virgin Islands Company, duly organized and validly existing and in good standing
under the laws of the jurisdiction.

 

    	 	3	 

     

    

 

		(g)	The execution and delivery of this Agreement by Seller has been duly authorized by proper corporate
action, and on the Closing Date Seller will have all necessary corporate power and authority to consummate the Transaction contemplated
by this Agreement.

 

		(h)	Each of the Target Companies are entities duly organized and validly existing and in good standing
under the laws of their respective jurisdictions of organization or formation, as applicable, and each of the Target Companies
has all of the powers necessary to engage in the business in which each is presently engaged.

 

		(i)	Seller understands and acknowledges that with respect to the shares of Common Stock to be received
from Buyer in connection with the Transaction:

 

		(i)	Said shares of Common Stock are “restricted securities” within the meaning of the federal
securities laws that have not been registered under the Securities Act of 1933, as amended (the “Securities Act”),
or any applicable state securities law and Seller is receiving the Common Stock as principal for its own account and not with a
view to, or for, distributing or reselling such Common Stock or any part thereof in violation of the Securities Act or any applicable
state securities laws;

 

		(ii)	The certificate or certificates evidencing the Common Stock shall bear a legend, in block letters,
identifying the shares as restricted stock substantially in the following form: The shares
common stock represented by this certificate have not been registered under the Securities Act of 1933, as amended (“securities
Act”). These shares have been acquired for investment and not with a view to distribution or resale, and may not be mortgaged,
pledged, hypothecated, or otherwise transferred without an effective registration statement for such shares under the Securities
Act or an opinion of counsel for the corporation that registration is not required under such act.

 

		(iii)	The Common Stock shall be subject to a lock up period of twelve (12) months from the date of issuance,
during which period the Common Stock may not be sold or, except as otherwise permitted by law, rule or regulation, transferred.
The certificate or certificates evidencing the Common Stock also shall bear an appropriate legend evidencing this lock up restriction.

 

		(iv)	The Common Stock shall be designated as voting stock, but Seller shall, and hereby does, forever
and for all purposes, to the fullest extent permitted under applicable law and the corporate governance documents of FEI, grant
to Buyer Seller’s proxy for all votes to which Seller would be entitled as a result of its ownership of the Common Stock
and Seller unconditionally agrees to execute all such documents, whether before or after the Closing Date, to effectuate the intent
of this Section.

 

    	 	4	 

     

    

 

		(j)	The Target Companies have rights to all of their property and assets, including the property and
assets reflected in the above-described balance sheet, except property and assets disposed of since that date in the ordinary course
of business. In all instances, and except as set forth on Schedule 4(h) or as otherwise set forth in this agreement, the remaining
property and assets are subject to no mortgage, pledge, lien, conditional sales agreement, lease, encumbrance, or charge that is
not disclosed on the balance sheet, except minor liens of a character that in the aggregate are not substantial in amount, do not
materially detract from the value of the property or assets subject thereto, or materially impair the operations of the Target
Companies and there are no contingent liabilities of any of the Target Companies that would materially impair the Target Companies’
ability to execute the Transaction. Notwithstanding the foregoing, Seller expressly discloses to Buyer a certain BIA Administrative
Appeal and a Ute Indian Tribe Global Settlement Agreement, each of which does or may affect title to some, all or none of the property
and assets of the Target Companies, which are attached hereto as Exhibit G and Exhibit H, respectively, and incorporated
by reference. Seller further expressly states and acknowledges that the acquisition by TEML of assets in connection with the Rio
Capital transaction did create, or may have created, a cloud on title to those assets or other assets of Seller.

 

		(k)	Since the date of the balance sheet, there have been no changes in the nature of the business of
the Target Companies, or in their financial condition, property, or assets, other than changes in the ordinary course of business.
Further, the Target Companies have not incurred any obligations or liabilities, or made any disbursements, other than those in
the ordinary course of business.

 

		(l)	The Target Companies are not a party to any employment contract with any officer or director, or
to any lease, contract, or agreement not negotiated in the ordinary course of business.

 

		(m)	The Target Companies are not a defendant, or a plaintiff against whom a counterclaim or cross-complaint
has been asserted, in any litigation, pending or threatened, neither has any material claim been made or asserted against any Target
Company, nor are there any proceedings involving company threatened by or pending before any federal, state, or municipal government,
or any department, board, body, or agency thereof, except the following actions: (1) that certain action styled as Peak Well
Service, LLC v. Tiger Energy Operating, LLC, Case No. 2:16-cv-000951-EJF, in the United States District Court, District of
Utah; and (2) that certain action styled SCI Welding & Oilfield Services, Inc. v. Tiger Energy Operating, LLC, pending
in the District Court of the Eighth Judicial District, In and For Duchesne County (Roosevelt, State of Utah. In addition, Seller
expressly discloses to Buyer that certain Modification to Stipulated Order, in Case No. S1/TA-102, before the State of Utah Department
of Natural Resources, Division of Oil, Gas & Mining, a copy of which is attached hereto as Exhibit I and incorporated
by reference.

 

		(n)	The Target Companies are not in violation of any provisions of their articles of incorporation,
organization, or bylaws or any provision of law, and neither has any Target Company defaulted under any agreement or other instrument
to which said Target Company is a party or by which company is bound, other than those of an immaterial or insubstantial nature.

 

    	 	5	 

     

    

 

		(o)	The Target Companies are not in default in payment of any of their obligations that are not revealed
in the most recent balance sheet furnished to Buyer.

 

		(p)	The Target Companies have duly and timely filed all state, federal, and local tax returns.

 

		(q)	No other party has any right, contingent, present, or otherwise, to acquire any of the Membership
Interests.

 

		(r)	Prior to the Closing Date, the Target Companies have not paid or declared any dividends, or made
any distributions in respect of, or issue, purchase, or redeem, any of its outstanding capital stock or any securities that evidence
the right to purchase, or that are convertible into, common stock.

 

		(s)	Following the Closing, Seller shall promptly turn over to Buyer all of the books and records of
the Target Companies, including, but not limited to, minute and stock books, accounting books and records, tax returns, legal files
and operations materials, relating to the assets and business of the Target Companies.

 

SECTION FIVE

REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer represents and warrants to Seller that:

 

		(a)	Buyer is a corporation, duly organized and validly existing and in good standing under the laws
of Nevada.

 

		(b)	The execution and delivery of this Agreement by Buyer has been duly authorized by proper corporate
action, and on the Closing Date Buyer will have all necessary corporate power and authority to consummate the Transaction contemplated
by this Agreement.

 

		(c)	FEI is a corporation, duly organized and validly existing and in good standing under the laws of
Delaware.

 

		(d)	The shares of FEI Common Stock to be issued to Seller pursuant hereto have been duly authorized
and, when issued in accordance with the terms of this Agreement, will be validly issued, fully paid and nonassessable shares of
capital stock and subject to no preemptive rights.

 

		(e)	FEI has filed all reports, schedules, forms, statements and other documents required to be filed
by it under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including pursuant to Section 13(a)
or 15(d) thereof, for the two (2) years preceding the date hereof (or such shorter period as FEI was required by law or regulation
to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein,
being collectively referred to herein as the “SEC Reports”). As of their respective filing dates, or to the extent
corrected by a subsequent restatement, the SEC Reports complied in all material respects with the requirements of the Securities
Act and the Exchange Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder, and to
the knowledge of FEI none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state
a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading.

 

    	 	6	 

     

    

 

		(f)	To the knowledge of FEI , it has no liabilities, obligations, or commitments of any material nature,
asserted or unasserted, known or unknown, absolute or contingent, accrued or unaccrued, matured or unmatured or otherwise except
those which have been incurred in the ordinary course of business consistent with past practice and which are not, individually
or in the aggregate, material in amount.

 

		(g)	Other than in the ordinary course of business consistent with past practice, there has not been,
with respect to FEI, any event, occurrence, or development that has had, or could reasonably be expected to have, individually
or in the aggregate, a material adverse effect on FEI or Buyer’s ability to consummate the Transaction.

 

SECTION SIX

CONDITIONS PRECEDENT TO SELLER’S OBLIGATIONS

 

Unless waived in writing by Seller, Seller’s
obligation to perform and complete the Transaction provided for under this Agreement shall be subject to Buyer performing, on or
before the Closing Date, all acts required of Buyer including delivery of the Purchase Price in the manner described in Section
Two above, and shall be further subject to the material accuracy of the representations and warranties of Buyer contained in the
Agreement, and to the further condition that Buyer shall deliver to Seller, on the Closing Date:

 

		(a)	A certificate from an officer of Buyer to the effect that the representations and warranties of
Buyer contained in this Agreement are true and correct in all material respects as of the Closing Date.

 

		(b)	Buyer will have obtained at least Two Million Two Hundred Fifty Thousand and No/100s US Dollars
($2,250,000) in financing on or within ten (10) Business Days following the Closing Date.

 

SECTION SEVEN

CONDITIONS PRECEDENT TO BUYER’S OBLIGATIONS

 

Unless waived in writing by Buyer, Buyer’s
obligation to perform and complete the Transaction provided for in this Agreement shall be subject to Seller performing, on or
before the Closing Date, all acts required of Seller, and shall be further subject to the material accuracy and correctness of
the representations and warranties of Seller contained in this Agreement, and to the further conditions that:

 

    	 	7	 

     

    

 

		(a)	On or before the Closing Date, Seller shall have caused the resignation of all of the officers
and directors of the Target Companies.

 

		(b)	Seller shall deliver to Buyer, on the Closing Date, a certificate from an officer of Seller to
the effect that the representations and warranties of Seller contained in this Agreement are true and correct in all material respects
as of the Closing Date.

 

		(c)	Seller shall deliver, in form and substance in a manner acceptable to Buyer and its counsel, all
original instruments and certificates of ownership, and transfer documents, that will assure full and complete title and control
of the Target Companies and their tangible and intangible properties, cash accounts and receivables wherever held, and business
operations to Buyer.

 

		(d)	Buyer will have obtained at least Two Million Two Hundred Fifty Thousand and No/100s US Dollars
($2,250,000) in financing on or within ten (10) Business Days following the Closing Date.

 

SECTION EIGHT

INDEMNITY
WITH RESPECT TO TAXES

 

		(a)	Seller shall indemnify Buyer and the Target Companies against any and all loss, liability, and
expense, including attorney’s fees, resulting from or arising out of taxes levied, imposed, or assessed by any governmental
authority, with respect to the income and operations of the Target Companies for all taxable periods ending prior to the Closing
Date. For all taxable periods ending on or prior to the Closing Date, Seller shall be granted full power and authority to take
any and all action with respect to proceedings relating to the taxes, including the right to settle, compromise, and dispose of
the proceedings in the name of the Target Companies. Seller shall be entitled to the benefit of any refunds and credits for taxes
for those periods.

 

		(b)	Buyer shall indemnify Seller, against any and all loss, liability, and expense, including attorney’s
fees, resulting from or arising out of taxes levied, imposed, or assessed by any governmental authority, with respect to the income
of the Target Companies for all periods commencing after the Closing Date.

 

SECTION NINE

EXPENSES OF SALE

 

Whether or not the Transaction is consummated,
any cost or expense incurred in connection with this Agreement and the Transaction must be paid by the Party incurring such cost
or expense.  

 

SECTION TEN

NO BROKERAGE FEES

 

Buyer and Seller each represent that neither
has employed any broker or entered into any agreement for the payment of any fees, compensation, or expenses to any person, firm,
or corporation in connection with the Transaction. Each shall indemnify the others against any such fees, compensation, or expenses
that may be incurred, particularly any claim for a finder’s fee.

 

    	 	8	 

     

    

 

SECTION ELEVEN

NOTICES

 

Any notice, request, instruction or other document
to be given hereunder by any Party to the others shall be in writing and delivered personally or sent by registered or certified
mail or by overnight courier, postage prepaid, or by facsimile: 

 

To the Seller:

 

Mr. Stewart Cheng / Mr. Tommy Cheng / Mr. Albert
Lai

Director / Director / Financial Controller

Total Belief Limited

Room 1402, 14/F, New World Tower I,

16-18 Queen’s Road Central, Hong Kong

(Fax No.: +852 3106-3834) 

 

To the Buyer:

 

Mr. B.P. Allaire

President

Foothills Exploration Operating, Inc.

633 17th Street, Suite 1700-A

Denver, CO 80202

(Fax No.: +1 720-449-7479)

 

or to such other Persons or addresses as may
be designated in writing by the party to receive such notice as provided above. Any notice, request, instruction or other document
given as provided above shall be deemed given to the receiving party upon actual receipt, if delivered personally; three (3) Business
Days after deposit in the mail, if sent by registered or certified mail; upon confirmation of successful transmission if sent by
facsimile (provided that if given by facsimile such notice, request, instruction or other document shall be followed up
within one (1) Business Day by dispatch pursuant to one of the other methods described herein); or on the next Business Day after
deposit with a nationally recognized overnight courier, if sent by a nationally recognized overnight courier.

 

SECTION TWELVE

BINDING EFFECT

 

This Agreement shall inure to the benefit of
and be binding on Buyer and Seller and their respective heirs, executors, administrators, successors, and assigns. All representations
and warranties shall survive the Closing of the Transaction under this Agreement.

 

    	 	9	 

     

    

 

SECTION THIRTEEN

CONFIDENTIALITY 

 

For the purposes of this Agreement “Confidential
Information” means all information relating to the disclosing Party (including without limitation, all such information concerning
or relating to the disclosing Party’s assets, liabilities, businesses, customers, suppliers, product formulations, manufacturing,
sources of raw materials, information on employee compensation, suppler agreements, or pricing of finished and raw materials) furnished
by or on behalf of the disclosing Party or its representatives, or learned or obtained in any fashion by the other Party in connection
with visits to the disclosing Party’s facilities (which information learned or obtained in connection with such visits shall
be deemed disclosed by the disclosing Party), whether furnished, learned or obtained before or after the date hereof, and whether
oral, written or electronic. Confidential Information shall include all information of the types described above, regardless of
the manner or form in which it is furnished, learned or obtained, and includes, without limitation, all data, reports, interpretations,
forecasts and records containing or otherwise reflecting any of such information, whether prepared by the disclosing Party or others,
and any summaries, analyses or other documents created by the disclosing Party or others which refer to, relate to, discuss, constitute,
or embody all or any portion of any of such information. The term Confidential Information shall not include, however, information
that: (a) is or becomes generally available to the public other than as a result (directly or indirectly) of a disclosure or other
action by the receiving Party; (b) was in the receiving Party’s possession and obtained on a non-confidential basis prior
to the disclosure thereof by the disclosing Party; or (c) becomes available to the receiving Party on a non-confidential basis
from a Person other than the disclosing Party who is not otherwise bound by any obligation of confidentiality with respect thereto.

 

Each Party agrees not to disclose, and to take
reasonable actions to ensure its employees do not disclose, the Confidential Information of the other Party to any other Person;
provided, however a Party may disclose Confidential Information (i) to such Party’s representatives who have agreed not to
disclose the Confidential Information and then only to the extent such representatives need to know such Confidential Information
in connection with its evaluation of the Transaction, (ii) to governmental authorities, but only to the extent such disclosure
to the governmental authority is required by any applicable legal requirement, or (iii) to such other persons to the extent required
pursuant to any applicable legal requirement.

 

The Parties agree to use the same degree of
care when protecting the Confidential Information of the other Party that it uses with regard to its own Confidential Information,
but in no event may a Party use less than a reasonable degree of care.

 

Notwithstanding anything to the contrary herein,
each of the Parties acknowledges and agrees that the other Party, or the other Party’s affiliates, may, as required by applicable
state or federal law, disclose all or any part of this Agreement, including the Exhibits hereto.

 

    	 	10	 

     

    

 

SECTION FOURTEEN

GOVERNING LAW; VENUE; ATTORNEY FEES

 

THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF COLORADO WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAW. Each Party hereto hereby
irrevocably submits to the jurisdiction of and venue in state and federal courts in the City and County of Denver, Colorado, in
respect of the interpretation and enforcement of the provisions of this Agreement and of the documents referred to in this Agreement,
and in respect of the Transaction, and hereby waives, and agrees not to assert, as a defense in any action, suit or proceeding
for the interpretation or enforcement hereof or of any such document, that it is not subject thereto or that such action, suit
or proceeding may not be brought or is not maintainable in the chosen court or that venue thereof may not be appropriate, or that
this Agreement or any such document may not be enforced in or by the chosen court, and each Party hereto hereby irrevocably agrees
that all claims with respect to such action, suit or proceeding shall be heard and determined solely in the chosen court. The Parties
hereby consent to and grant the chosen court jurisdiction over the person of such Parties and, to the extent permitted by law,
over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such action or
proceeding or in such other manner as may be permitted by law shall be valid and sufficient service thereof.

 

SECTION FIFTEEN

INDEMNIFICATION

 

Subject to the provisions contained in this
Section Fifteen, from and after the Closing Date, Seller shall indemnify, defend and hold Buyer, its affiliates and their respective
directors, officers, shareholders, partners, members, employees, attorneys, accountants, agents, successors and permitted assigns,
each in their capacity as such (collectively, the “Buyer Indemnified Parties”), harmless from and against, and pay
to each relevant Buyer Indemnified Party the amount of, any and all losses incurred by such Buyer Indemnified Party based upon,
attributable to or resulting from any breach of any of the representations or warranties made by Seller in this Agreement and the
breach of any covenant or other agreement of Seller contained in this Agreement.

 

Subject to the provisions contained in this
Section Fifteen from and after the Closing Date, Buyer shall indemnify, defend and hold Seller, its affiliates and its respective
directors, officers, shareholders, partners, members, employees, attorneys, accountants, agents, successors and permitted assigns,
each in their capacity as such (collectively, the “Seller Indemnified Parties”), harmless from and against, and pay
to Seller Indemnified Party the amount of, any and all losses incurred by Seller Indemnified Party based upon, attributable to
or resulting from any breach of the representations or warranties made by Purchaser in this Agreement and the breach of any covenant
or other agreement of Purchaser contained in this Agreement.

 

Notwithstanding the foregoing, neither Party
will be liable with respect to any claim involving the gross negligence, willful misconduct, or bad faith of any other Party and
notwithstanding anything set forth above the amount of any indemnification hereunder shall not exceed the Purchase Price.

 

SECTION SIXTEEN

LEGAL ADVICE; INTERPRETATION 

 

All Parties acknowledge and agree that they
have obtained their own independent legal advice prior to the execution of this Agreement. In interpreting this Agreement, the
Parties agree that the provisions of this Agreement shall be construed in an evenhanded manner and shall not be construed against
either Party on this basis of which Party drafted this Agreement or section hereof. Each Party acknowledges it has had an opportunity
to consult with an attorney in connection with the drafting and negotiation of this Agreement.

 

    	 	11	 

     

    

 

SECTION SEVENTEEN

ASSIGNMENT

 

Except in the case of an assignment between
the parent and a subsidiary of the assigning Party, this Agreement is not assignable by operation of law or otherwise without the
prior written consent of the other Party hereto. Any purported assignment of this Agreement not in accordance with the terms of
this Section Seventeen will be void ab initio.

 

SECTION EIGHTEEN

ENTIRE AGREEMENT

 

This Agreement (including the Exhibits hereto)
constitutes the entire agreement among the Parties, and supersedes all other prior agreements, understandings, representations
and warranties both written and oral among the Parties, with respect to the subject matter hereof.

 

SECTION NINETEEN 

AMENDMENT; WAIVER

 

Subject to applicable law, this Agreement may
be amended, modified or supplemented only by means of a written instrument duly executed by each of the Parties hereto. The failure
of any Party to seek redress for any violation, or to insist upon the strict performance, of any provision of this Agreement shall
not prevent any Party from seeking redress for any subsequent act, or failure to act, or to insist upon the strict performance
of this Agreement. No single or partial exercise by a Party of any right or remedy hereunder shall preclude other or further exercise
thereof or the exercise of any other right or remedy.

 

SECTION TWENTY

SPECIFIC PERFORMANCE

 

The Parties agree that irreparable damage would
occur if any provision contained in this Agreement were not performed in accordance with its terms. Each Party waives any requirement
that the Party seeking specific performance post any bond in connection therewith.

 

SECTION TWENTY-ONE

NO THIRD-PARTY BENEFICIARIES

 

Except as otherwise expressly provided herein,
this Agreement is not intended to, and does not, confer any rights or remedies hereunder upon any person other than the Parties
who are signatories hereto.

 

    	 	12	 

     

    

 

SECTION TWENTY-TWO

SEVERABILITY

 

If any one or more of the provisions of this
Agreement shall be invalid, illegal, or unenforceable in any respect, the validity, legality, and enforceability of the remaining
provisions contained herein shall not in any way be affected or impaired, and the offending provision or provisions shall be reformed,
and the remaining provisions interpreted, so as to give effect, to the maximum extent permissible, to the agreement of the Parties
as set out herein.

 

SECTION TWENTY-THREE

FURTHER ASSURANCES

 

The Parties shall, from time to time and upon
reasonable request, execute, acknowledge, and deliver, or cause to be executed, acknowledged, and delivered, such instruments,
and take such other action, as may be necessary or advisable to carry out their respective obligations under this Agreement, and
the obligations of Buyer, or Buyer’s affiliates, in connection therewith, including legal, accounting and regulatory requirements.

 

SECTION TWENTY-FOUR

COUNTERPARTS

 

This Agreement may be executed in any number
of counterparts, including by electronic means, each of which when executed and delivered shall be an original, but all such counterparts
shall constitute one and the same instrument.

 

[Signature Page Follows]

 

    	 	13	 

     

    

 

IN WITNESS WHEREOF,
the Parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers
or agents thereunto duly authorized.

 

	For and on behalf of	 
	 	 
	SELLER:	 
	 	 
	TOTAL BELIEF LIMITED,	 
	a British Virgin Islands limited liability company	 
	 	 	 
	By:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

	BUYER:	 
	 	 
	FOOTHILLS EXPLORATION OPERATING, INC.,	 
	a Nevada Corporation	 
	 	 	 
	By:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

    	 	14	 

     

    

 

EXHIBIT A

 

TEO & TEML ASSETS

 

	Assets Owned by TEO:	
        The following assets are owned by Tiger Energy Operating, LLC
        (“TEO”):

         

        OIL & GAS LEASES:

 

	County	 	Acreage	 	Section	 	twp	 	rge	 	Comments	 	WI	 	NRI	 
	Uintah	 	40 Acres	 	16	 	9S	 	20E	 	SW 1⁄4 NW 1⁄4	 	100%	 	80%	 
	Uintah	 	120 Acres	 	16	 	9S	 	20E	 	E 1⁄2 NE 1⁄4,
 SW 1⁄4 NE 1⁄4	 	100%	 	80%	 
	Uintah	 	40 Acres	 	8	 	9S	 	20E	 	SE 1⁄4 SE 1⁄4	 	100%	 	80%	 
	Uintah	 	80 Acres	 	17	 	9S	 	20E	 	N 1⁄2 NW 1⁄4	 	100%	 	80%	 

 

WELL DESCRIPTIONS:

 

	Name	 	API	 	Section	 	twp	 	rge	 	Federal Lease #	 	WI	 	NRI	 
	Duck Creek 7-16 GR	 	43-047-3051	 	16	 	9S	 	20E	 	38397	 	100%	 	80%	 
	Duck Creek 17-16 GR	 	43-047-30654	 	16	 	9S	 	20E	 	38399	 	100%	 	80%	 
	Duck Creek 8-16 GR	 	43-047-30628	 	16	 	9S	 	20E	 	38397	 	100%	 	80%	 
	Duck Creek 32-17GR	 	43-047-30810	 	17	 	9S	 	20E	 	38400	 	100%	 	80%	 
	Duck Creek 50-17GR	 	43-047-30996	 	17	 	9S	 	20E	 	38400	 	100%	 	80%	 
	Duck Creek 51-8 GR	 	43-047-31038	 	8	 	9S	 	20E	 	38397	 	100%	 	80%	 

 

UNITIZED WELL DESCRIPTION:

 

	Name	 	API	 	Section	 	TWP	 	RGE	 	Federal Lease #
	Duck Creek 16-16	 	 	 	16	 	9S	 	20E	 	 

 

OIL AND GAS BONDS:

 

		·	United States Department of the Interior Bureau of Land Management
Statewide Personal Oil and Gas Bond #UTB000525 in the amount of $25,000.00;

 

		·	United States Department of the Interior Bureau of Indian Affairs
unnumbered Nationwide Oil and Gas Lease Bond in the amount of $150,000.00;

 

		·	State of Utah Department of Natural Resources Division of Oil, Gas
and Mining Surety Bond # RLB0015170 in the amount of $120,000.00

 

    	 	15	 

     

    

 

CASH IN THE BANK:

 

		·	All cash balances in all company bank accounts

 

	Assets Owned by TEML:	This is a summary of oil and gas interests owned by Tiger Energy Mineral Leasing, LLC (“TEML”):

 

Oil & Gas Well Interest Owned:

 

		·	Blacktail Ridge Project – Bill Barrett Corporation

#5-9D-46 BTR Well, Section 9, T-4S, R-6W, Duchesne County, Utah

 

		·	Blacktail Ridge Project – Bill Barrett Corporation 

#7-8-46 BTR Well, Section 8, T-4S, R-6W, Duchesne County, Utah

 

		·	Blacktail Ridge Project – Bill Barrett Corporation 

#11-8D-46 BTR Well, Section 8, T-4S, R-6W, Duchesne County, Utah

 

Oil & Gas Lease Right & Options Owned:

 

Ladysmith Prospect:

 

		·	WYW-172309 – 40% Working Interest in lands covering 1,000 acres
described as: 

29N-96W

Section 19: SENE, SE; 

Section 20: S2N2, S2; 

Section 21: SWNW, W2SW, SESW; 

Section 30: NE, 

Fremont County, Wyoming

 

		·	WYW-173238 – 40% Working Interest in lands covering 2,060.80
acres described as: 

29N-96W

Section 19: E2SW; 

Section 21: SENE, SE; 

Section 28: All

Section 29: All

Section 30: Lots 1-4, NENW, E2SW, SE

Fremont County, Wyoming

 

All Rights and interests pertaining to the
Rio Capital Acquisition dated September 25, 2014:

 

		·	Oil and gas leases in the Altamont-Bluebell field located in Duchesne
and Uintah Counties, Utah

 

    	 	16	 

     

    

 

EXHIBIT B

 

TEPI ASSETS

 

	Asset Owned by TEPI:	
        ·     All
        rights and interests pertaining to the Global Settlement Agreement (“GSA”) for the Uintah and Ouray Reservation between
        Mountain Oil & Gas, Inc. and the MOG Entities (Craig Phillips) and the Ute Indian Tribe of the Uintah and Ouray Reservation,
        dated December 22, 2014; this GSA is the subject of an administrative approval request made to the BIA that is expected to be received
        in the first quarter of 2016, and when approved, as to which no assurance can be given, additional funds will be required to complete
        the transactions therein describe;

         

        ·     All
        rights and interests acquired in the Purchase and Sale Agreements between TEPI and Mountain Oil & Gas, Inc. dated April 16,
        2012 and December 18, 2012;

         

        ·     All
        cash held in the IOLTA Trust Fund Account with Hall Estill law firm;

         

        ·     $240,000
        cash held in escrow by the law firm of Lear & Lear, LLP for State of Utah Department of Natural Resources Division of Oil,
        Gas and Mining (DOGM);

         

        ·     All
        cash balances in all company bank accounts.

 

    	 	17	 

     

    

 

EXHIBIT C

 

GREY HAWK EXPLORATION,
INC.

 

The Seller, through its subsidiaries, owns the following shares
of Grey Hawk Exploration, Inc., a British Columbia, Canada, based company being delivered to Buyer:

 

	Subsidiary
    Name	 	Number
	 	 	 
	Prominent Sino Holdings LTD	 	9,666,667 shares
	 	 	 
	Value Train Investments LTD	 	3,500,000 shares

 

    	 	18	 

     

    

 

EXHIBIT D

 

FORM OF BUYER PROMISSORY NOTE

 

    	 	19	 

     

    

 

EXHIBIT E

 

GGL PROMISSORY NOTE

 

    	 	20	 

     

    

 

EXHIBIT F

 

NOVASTAR AGREEMENT 

 

    	 	21	 

     

    

 

SCHEDULE 4(h)

 

Mortgages, Liens
and Encumbrances

 

None.

 

    	 	22

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00265-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00265-of-00352.parquet"}]]