Document:

Exhibit 10.3

    
      

    

    Exhibit
      -
      Georgia Exploration, Inc. Form 8-K

    

    10.3
      Assignment of Working Interest in in Oil and Gas Wells

    

    

    Assignment
      of Working Interest in Oil and Gas Wells Mound Branch
      Prospect

    Elk
      County, Kansas

    Dated
      

    January
      30, 2007

    

    

    
      	
              STATE
                OF Kansas

            	
              §

            	 	 
	 	
              §

            	 	
              KNOW
                ALL MEN BY THESE PRESENTS:

            
	
              COUNTY
                OF Elk et al

            	
              §

            	 	 

    

     

    That
      effective January 30, 2007 Orbit
      Energy, L.L.C,
      with
      principle offices at 4801 Woodway #305W Houston, Texas 77056 (hereinafter called
      “Assignor”), for and in consideration of the sum of Ten Dollars ($10.00) cash
      and other good and valuable consideration paid by Wharton Resources,
      LP,
      with
      offices at 519 Heights Blvd Houston, Texas 77007 (hereinafter called
“Assignee”), the receipt and sufficiency of which are hereby acknowledged, does,
      subject to the terms and provisions herein contained, hereby transfer, sell,
      assign and convey unto the said Assignee, its heirs, successors or assigns,
      without warranty of title, express or implied, all of Assignor’s right, title
      and Working Interest (WI) in the existing oil and gas wells “the Wells”, as
      described in Exhibit ‘A’. The assignment includes all surface and subsurface
      structures and appurtenances which were the property of the Assignor at the
      time
      of this assignment. This Assignment also conveys all rights, privileges, and
      obligations derived from the title and ownership of the Wells to the Assignee
      on
      the effective date of the date of the Assignment

    

    EXECUTED
      this 30th
      day of
      January 2007, but effective as of the above-stated Effective Time.

    

    Assignor,
      Orbit Energy, L.L.C.

    

    
      	
              /
                s
                / Greg A. Thompson

            
	
              Greg
                A. Thompson

            
	
              Manager/President

            

    

    

    

    
      	
              STATE
                OF Texas

            	
              }

            

    

    
      	
              COUNTY
                OF Harris 

            	
              }

            

    

    

    This
      instrument was acknowledged before me on January 30, 2007 by Greg A. Thompson
      as
      Manager/President of Orbit Energy, L.L.C., a Nevada Limited Liability Company,
      on behalf of said entity.

    

    

    
      	My
              Commission Expires:	 	
              /
                s
                / Yazmin Leyva

            
	
              November
                8, 2009

            	 	 
	 	 	
              Notary
                Public, State of Texas 

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Assignment
      of Working Interest in Oil and Gas Wells Mound Branch
      Prospect

    Elk
      County, Kansas

    Dated
      

    January
      30, 2007

    

    

    Exhibit
      ‘A’

     

    

    
      	
              Well
                Name

            	 	
              API
                #

            	 	
              Legal
                Description

            	 	
              County/ST

            	 	
              Assigned
                WI

            
	
              MT
                19-1 LC#9

            	 	
              15-049-22419-00-00

            	 	
              Sec19-30S-11E

            	 	
              Elk,
                KS

            	 	
              0.2500

            
	
              MT
                19-2 LC#10

            	 	
              15-049-22421-00-00

            	 	
              Sec29-30S-11E

            	 	
              Elk,
                KS

            	 	
              0.31000

            
	
              MT
                29-1 LC#11

            	 	
              15-049-22420-00-00

            	 	
              Sec29-30S-11E

            	 	
              Elk,
                KS

            	 	
              0.3100

            
	
              DB
                19-3 LC#12

            	 	
              15-049-20258-00-01

            	 	
              Sec19-30S-11E

            	 	
              Elk,
                KS

            	 	
              0.2900

            
	
              MT
                29-2 LC#14

            	 	
              15-049-22431-00-00

            	 	
              Sec29-30S-11E

            	 	
              Elk,
                KS

            	 	
              0.5500

            
	
              DD
                16-3 LC#15

            	 	
              15-049-20551-00-01

            	 	
              Sec16-30S-11E

            	 	
              Elk,
                KS

            	 	
              0.7300

            
	
              DD
                16-2

            	 	
              15-049-20482-00-01

            	 	
              Sec16-30S-11E

            	 	
              Elk,
                KS

            	 	
              1.0000

            
	
              DD
                16-8

            	 	
              15-049-22433-00-01

            	 	
              Sec16-30S-11E

            	 	
              Elk,
                KS

            	 	
              1.0000

            
	
              DD
                16-4

            	 	
              15-049-19111-00-01

            	 	
              Sec16-30S-11E

            	 	
              Elk,
                KS

            	 	
              1.0000Exhibit 10.4

    
      

    

    Exhibit
      - Georgia Exploration

     

    10.4
      -
      Assignment of Oil and Gas Mineral Leases

    

    Assignment
      of Oil
      and Gas Mineral Leases Elk County, Kansas 

     

    

    
      	
              STATE
                OF
                Kansas

            	
              §

            	 	 
	 	
              §

            	 	
              KNOW
                ALL MEN BY THESE PRESENTS:

            
	
              COUNTY
                OF Elk et al

            	
              §

            	 	 

    

    

    Effective
      January 30, 2007, that, Orbit
      Energy, L.L.C
      with
      principle offices at 4801 Woodway Suite 305W Houston, Texas 77056 (hereinafter
      called “Assignor”), for and in consideration of the sum of Ten Dollars ($10.00)
      cash and other good and valuable consideration paid by Wharton Resources,
      LP,
      with
      offices at 519 Heights Blvd. Houston, Texas 77007 (hereinafter called
“Assignee”), the receipt and sufficiency of which are hereby acknowledged, does,
      subject to the terms and provisions herein contained, hereby transfer, sell,
      assign and convey unto the said Assignee, its heirs, successors or assigns,
      without warranty of title, express or implied, 74% of 8/8ths of Assignor’s
      right, title and interest in and to the oil and gas rights including hydrocarbon
      and non-hydrocarbon substances produced in association therewith, as covered
      by
      the oil, gas and mineral leases described in Exhibit “I”, attached hereto and by
      reference made a part hereof and the lands covered by such leases insofar only
      as such lands are described in Exhibit “I”, together with such interest’s part
      of all production if any, produced under such oil, gas and mineral leases and
      the Area of Mutual Interest (AMI) as set out in that certain Purchase and Sale
      Agreement Mound Branch Prospect Elk County, Kansas by and between the Assignor
      and Assignee dated January 30, 2007. 

     

    The
      oil,
      gas and mineral leases described in Exhibit “I” insofar as the same cover the
      lands described therein are hereinafter referred to as “said
      leases”.

     

    The
      interest in said leases assigned Assignee hereunder shall be subject to such
      interest’s proportionate part of the royalty interest as provided for in said
      leases and to the terms, conditions and provisions set forth therein. Such
      interest shall also be subject to such interest’s proportionate part of all
      overriding royalties, production payments and any other payments and agreements
      of record. 

     

    The
      terms, covenants and conditions hereof shall be binding upon and shall inure
      to
      the benefit of Assignor and Assignee and their respective successors and
      assigns; and such terms, covenants and conditions shall be covenants running
      with the land above described and the assigned premises and with each transfer
      or assignment of said leases.

     

    Executed
      this 30th day of January, 2007, however, effective as stated above.

     

    
      	 	
              Orbit
                Energy, L.L.C.

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /
                s
                / Greg A. Thompson

            
	 	 	
              President

            

    

    

    

    
      	
              STATE
                OF Texas 

            	
              }

            

    

    

    
      	
              COUNTY
                OF Harris

            	
              }

            

    

    

    

    This
      instrument was acknowledged before me on this 30th day of January, 2007 by
      Greg
      A. Thompson Manager/President , a Nevada Limited Liability Company, on behalf
      of
      said LLC.

    

    

    
      	
              My
                Commission Expires

            	
              /
                s
                / Yazim Leyva

            	 
	 	
              Notary
                Public - State of Texas 

            	 
	
              November
                18, 2007

            	 	 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      “I” TO

    Oil
      and Gas Mineral Leases Assigned In Assignment Agreement 

    Dated
      January 30, 2007

    Mound
      Branch Prospect Area

    Elk
      County, Kansas

    

    
      	
              Lessor

            	
               

            	
              Recorded
                Book/Page Elk County, KS

            	
              Date
                of Lease

            	
              Term

            	
               

            	
              Number
                of Acres

            	
               

            	
              Legal
                Discription

            	
               

            	
              County

            	
               

            	
              State

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Bellar
                Family Farm, LLC

            	 	
              60/785

            	
              12/10/05

            	
              3
                yrs.

            	 	
              Total
                Acres 125

            	 	
              Township
                30 South, Range 11 East

              Section
                29:

              E/2NE/4,NE/4SE/4,N/2SE/4SE/4

              Lying
                North of County Rd

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Eugene
                R. & Catherine S. Perkins

            	 	
              60/805

            	
              2/11/06

            	
              3
                yrs

            	 	
              Total
                Acres 320

              Lease
                (1) 160

            	 	
              Township
                30 South, Range 11 East

              Section
                18: NE/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
              60/807

            	
              2/11/06

            	
              3
                yrs

            	 	
              Lease
                (2) 160

            	 	
              Township
                30 South, Range 11 East

              Section
                18:

              E/2SW/4,
                W/2SE/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Tom
                & Angela Russell,

              Preston
                & Christina Jones

            	 	
              60/815

            	
              2/25/06

            	
              3
                yrs

            	 	
              Total
                Acres 563

              Lease
                (1) 280

            	 	
              Township
                30 South, Range 11 East

              Section
                21: NE/4NW/4, lying East of County RD, NE/4

              Section
                22: W/2SW/4, SW/4NW/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
              60/818

            	
              2/25/06

            	
              3
                yrs

            	 	
              Lease
                (2) 283

            	 	
              Township
                30 South, Range 11 East

              Section
                15: SW/4

              Section
                22: N/2NW/4, SE/4NW/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Howard
                E. & Debbie J. Unruh

            	 	
              60/861

            	
              2/25/06

            	
              3
                yrs

            	 	
              Total
                Acres

              200

            	 	
              Township
                30 South, Range 11 East of 6th P.M.

              Section
                21: SE/4, NE/4SW/4, SE/4SW/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Alvin
                V. Schibbelhute

            	 	
              60/619

            	
              10/1/05

            	
              3
                yrs

            	 	
              Total
                Acres 400

              Lease
                (1) - 240 Acres

            	 	
              Township
                30 South, Range 11 East

              Section
                12: SE/4, E/2SW/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Lease
                (2) - 160 Acres

            	 	
              Township
                30 South, Range 12 East

              Section
                7: SW/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              David
                Denton

            	 	
              60/624

            	
              10/13/05

            	
              3
                yrs

            	 	
              Total
                Acres 640

              Lease
                (1) - 320 Acres

            	 	
              Township
                30 South, Range 11 East

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Dennis
                Bryan

            	 	
              60/610

            	
              9/6/05

            	
              3
                yrs

            	 	
              Total
                Acres 80

            	 	
              Township
                30 South, Range 11 East

              Section
                19: E/2NE/4

            	 	
              ELK

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Robert
                Adams

            	 	
              60/631

            	
              10/17/05

            	
              3
                yrs

            	 	
              Total
                Acres 920

              Lease
                (1) 160 Acres

            	 	
              E/2
                NW/4, W/2 NE/4, Sec32

              T30S-R11E,
                Elk County, Kansas

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
              60/633

            	
              10/17/05

            	
              3
                yrs

            	 	
              Lease
                (2) 160 Acres

            	 	
              Township
                30 South Range 11 East

              Section
                35: NE/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Robert,
                Lakin, Linda Adams

              Alice
                M. & Marion Brunetti

            	 	
              60/710

            	
              10/17/05

            	
              3
                yrs

            	 	
              Lease
                (3)- 240 Acres

            	 	
              Township
                30 South, Range 11 East

              Section
                27: E/2SW/4, SE/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Robert,
                Lakin, Linda Adams

              Alice
                M. & Marion Brunetti

            	 	
              60/708

            	
              10/17/05

            	
              3
                yrs

            	 	
              Lease
                (4)- 80 Acres

            	 	
              Township
                30 South, Range 11 East

              Section
                35: W/2NW/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Robert
                A., Larkin & Linda T. Adams

            	 	
              60/704

            	
              10/17/2005

            	
              3
                yrs

            	 	
              Lease
                (5)- 120 Acres

            	 	
              Township
                30 South, Range 11 East

              Section
                23: SE/4SE/4

              Section
                24: S/2SW/4

              Section
                26: E/2NE/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Phyllis
                A. & Neal F. Osborn Trustees of the

              Phyllis
                A. Osborn Trust

            	 	
              60/842

            	
              3/16/06

            	
              3
                yrs

            	 	
              Total
                Acres 640

              Lease
                (1) 240 Acres

            	 	
              Township
                30 South, Range 11 East

              Section
                15: W/2SE/4

              Section
                22: NE/4

              Section
                22: SE/4, E/2SW/4

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
              60/846

            	
              3/16/06

            	
              3
                yrs

            	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Babst
                Family Limited Partnership

            	 	
              60/722

            	
              10/22/05

            	
              3
                yrs

            	 	
              Total
                Acres 2524.1

              Lease
                (1) - 649.55 Acres

            	 	
              Township
                30 South, Range 12 East

              Section
                30: Lots 1,2,3,4 E2,a/d/a All

              Township
                30 South, Range 11 East

              Section
                25: N/2S/2 lying North

              (2
                Ac.) and East County Rd., NE/4

              lying
                East County (12 Ac.)

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Babst
                Family Limited Partnership

            	 	
              60/719

            	
              10/22/05

            	
              3
                yrs

            	 	
              Lease
                (2) - 239.34 Acres

            	 	
              Township
                30 South, Range 12 East

              E/2W/2,
                E/2, a/d/a All

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
              60/717

            	
              10/22/05

            	
              3
                yrs

            	 	
              Lease
                (4) - 320 Acres

            	 	
              Township
                30 South, Range 12 East

              Section
                29: W/2

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Babst
                Family Limited Partnership

            	 	
              60/715

            	
              10/22/05

            	
              3
                yrs

            	 	
              Lease
                (5) - 688.61 Acres

            	 	
              Township
                30 South, Range 12 East

              Section
                19: Lots 1,2,3,4,

              E/2,
                a,d,a All ( 632.11 Ac. )

              Township
                30 South, Range 11 East

              Section
                24: All that part of the

              SE/4NE/4,
                E/2SE/4 lying East of

              County
                Road ( 56.5 Ac. )

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              M.
                Ruth Royse, Trustee of the M. Ruth Royce

            	 	 	 	 	 	
              Total
                Acres 640

            	 	 	 	 	 	 
	
              Lease
                Date-

            	 	
              61/003

            	
              3/20/06

            	
              3
                yrs

            	 	
              Lease
                (1) 320 Acres

            	 	
              Township
                30 South, Range 11 East

              Section
                10: W/2

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
              61/005

            	
              3/20/06

            	
              3
                yrs

            	 	
              Lease
                (2) 320 Acres

            	 	
              Township
                30 South, Range 11 East

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Margaret
                P. Tidwell

            	 	
              60/461

            	
              7/13/05

            	
              n/a

            	
              *HBP

            	
              Total
                Acres 959

            	 	
              Section
                29, 30 Various

            	 	
              Elk

            	 	
              KS

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              *Held
                by production.

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