Document:

Exhibit 10.28

 

ASSIGNMENT & TRANSFER OF FEDERAL
OIL & GAS LEASE

AND BILL OF SALE

 

[P.R. Springs, Utah]

 

This ASSIGNMENT
& TRANSFER OF FEDERAL OIL & GAS LEASE AND BILL OF SALE (“Assignment”), dated and made effective
as of April 1, 2019 (the “Effective Date”), is entered into by and between MOMENTUM ASSET PARTNERS I LLC,
a Nevada limited liability company, having a registered office at 50 West Liberty Street, Suite 880, Reno, Nevada 89501 (“Assignor”),
and TMC CAPITAL, LLC, a Utah limited liability company, having an office at 15165 Ventura Boulevard, Suite 200, Sherman
Oaks, California 91403 (“Assignee”) (the parties hereto sometimes referred to individually as a “Party”
or collectively as the “Parties”).

 

W I T N E S S E T H:

 

For good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor hereby sells, grants, assigns, conveys
and otherwise transfers to Assignee, all of Assignor’s right, title and interest in and to the following assets (collectively,
the “Acquired Assets”):

 

1. The Leases.
An undivided fifty percent (50%) of the rights and interests, consisting of “Operating Rights” as defined under regulations
of the U.S. Bureau of Land Management (“BLM”), owned or held by Assignor, or that may be acquired by Assignor
at any time hereafter, in and to that certain federal oil and gas lease, serialized in the records of the BLM as BLM Lease No.
U-38071, covering and including lands situated in Uintah County, Salt Lake Meridian (SLM), State of Utah, and included, either
in whole or in part, in a “Special Tar Sands Area” designated by the (U.S.) Department of Interior and referred to
as “PR Springs” (herein the “PRS STSA”), all as more particularly described in Exhibit A
hereto (the “Lease”), together with:

 

(a) All rights and
interests under any Combined Hydrocarbon Lease (“CHL”) issued by the BLM under the Combined Hydrocarbon Act
of 1981 and the regulations promulgated thereunder, in which the Lease or any of the lands covered thereby are converted or included,
in each case that are attributable to the rights and interests in the Lease assigned and transferred to Assignee hereunder; and

 

(b) Any easements,
rights-of-way, and other benefits or appurtenances granted under the terms of the Lease, including all rights and claims under
federal, state and local laws, rules and regulations that are associated with or appurtenant thereto or thereunder, that are attributable
to the rights and interests in the Lease assigned and transferred to Assignee hereunder;

 

SUBJECT, HOWEVER, to the following:

 

The rights and interests
in and under the Lease assigned and transferred to Assignee herein are limited to the exclusive right to explore for, mine, extract,
produce, process and market oil, gas and associated hydrocarbon substances from all formations or intervals containing oil sands
(tar sands) at the surface and at all depths down to 1,000 feet below the surface. For purposes hereof, the term “1,000 feet
below the surface” means a vertical depth of 1,000 feet below the point of any mining, extraction, production or other operation
(including any surface mining or insitu operation) that may be conducted by Assignee on or under lands covered by or included within
the Lease or any other leases or lands that may be pooled or unitized therewith for any reason or purpose.

 

    Page 1 of 5

     

    

 

2. Personal &
Mixed Property. An undivided fifty percent (50%) ownership or other right, title and interest in any equipment, materials,
supplies, files, records, CHL applications, plans of operation, and other personal property located on the Lease or used in the
operation of the lands covered thereby, in each case that are owned or held by Assignor or by third persons on behalf of Assignor,
or in which Assignor may have any interest, either in whole or in part, relating in any way to the rights and interests in or under
the Lease assigned and transferred to Assignee hereunder or to the development of the mineral resources in, under or with respect
to the Lease, or in any other property relating to the Lease as to which Assignor may have a claim of right or interest;

 

3. Surface &
Subsurface Use. All rights, privileges, benefits, and powers conferred on the holder of the Acquired Assets with respect to
the use, occupation and operation of the surface and the subsurface of the Lease and the lands covered thereby, in each case that
are attributable to the rights and interests in the Lease assigned and transferred to Assignee hereunder, subject to the depth
limitations herein, and all rights in any pooled or unitized acreage included in whole or in part within the Lease or any of the
lands covered thereby, in each case limited by and that are attributable to the rights and interests in the Lease assigned and
transferred to Assignee hereunder;

 

4. Permits, Licenses,
Easements etc. All permits, licenses, servitudes, easements, right-of-way, orders, CHL applications, assignments, records,
documents, plans of operations and contracts relating in any way to the Leases and the lands covered thereby, in each case to the
extent of the rights and interests in the Lease assigned and transferred to Assignee hereunder, whether or not such instruments
or documents appear of record in the county where the lands covered by the Lease are located, including without limitation any
agreements with the BLM relating to the conversion of the Lease to any CHL under the Combined Hydrocarbon Leasing Act of 1981 and
BLM Regulations, in each case to the extent of, and that are attributable to, the rights and interests in the Lease assigned and
transferred to Assignee hereunder; and

 

5. Files, Records
& Data. An undivided fifty percent (50%) of all right, title and interest owned or held by Assignor in any files, records,
information and data relating to the matters and items described hereinabove (in paragraphs 1 through 4 above), including without
limitation title records (including title opinions, abstracts, certificates of title and title curative documents), contracts,
geological or geophysical records, data and information, and production records, core data, electric logs and all related documents
pertaining to such matters.

 

TO HAVE AND TO HOLD
the Acquired Assets unto Assignee and its successors and assigns forever, subject, however, to the following:

 

a. Limitations
on Warranty of Title. The Acquired Assets are being assigned and conveyed hereunder to Assignee without any warranty of
title, except that Assignor warrants that the Lease, to the extent of the rights and interests assigned and transferred to
Assignee hereunder, are free and clear of all adverse claims, liens and other encumbrances.

 

    Page 2 of 5

     

    

 

b. Overriding Royalty
Interests. This Assignment shall be subject to such overriding royalty interests (“ORRI”) as have been retained
or reserved by Assignor’s predecessors-in-interest and that appear of record in the county or jurisdiction within the State
of Utah in which the lands covered by the Leases are situated or in the records of BLM. No ORRI is being reserved by Assignor under
this Assignment.

 

c. Recording; Filing.
Assignee shall be entitled to record this Assignment in the county or other jurisdiction in which the lands covered by the Lease
are located or, at Assignee’s request, Assignor shall execute a Memorandum of Assignment of Federal Oil & Gas Lease (“Memorandum”)
on or at any time after the date of this Assignment that may be recorded in lieu of recording this Assignment in its entirety.
The recording of any such Memorandum shall include a description of the Lease and the lands covered thereby, together with the
nature and scope of the rights and interests assigned and transferred to Assignee hereunder, and shall be binding upon Assignor
and Assignee, their respective successors and assigns, as though this Assignment had been filed or recorded in its entirety.

 

d. Approval by BLM;
Further Assurances. (1) This Assignment is subject to the approval or consent of the BLM in accordance with BLM regulations
promulgated pursuant to the Mineral Leasing Act of 1920 and the Combined Hydrocarbon Act of 1981, as amended, and regulations promulgated
thereunder. In connection therewith, Assignor and/or its predecessors-in-interest or other holders of interests in and under the
Lease, or persons acting on their behalf, have previously notified BLM of its/their intent that the Leases be converted to CHLs
under the Combined Hydrocarbon Act of 1981 and have filed a plan of operations that has been determined to be complete and has
been accepted by BLM.

 

(2) It is the intent
of Assignor and Assignee that the Lease and the lands covered thereby shall be converted to one or more CHLs issued by the BLM
and that Assignee shall receive, own and hold, under any such CHL in which the Lease has been converted, all of the rights and
interests thereunder or contained therein in proportion to the rights and interests assigned and transferred by Assignor to Assignee
hereunder. Accordingly, if upon issuance of any CHL by BLM in or with respect to the PRS STSA or otherwise, the records of the
BLM or other governmental authority, recorded or otherwise, reflect or show that Assignor (or any of its affiliates) owns or holds
any of the rights and interests under the Lease that have been assigned and transferred to Assignee under this Assignment, Assignor
shall execute and deliver to Assignee such additional assignment and transfer instruments as Assignee may reasonably request in
order to ensure that all of the rights, title and interests in the Lease assigned and transferred to Assignee hereunder are recognized
and approved by the BLM and reflected or included in any such CHL issued under and in accordance with BLM regulations.

 

e. Schedules and
Exhibits. Each of the Schedules and Exhibits attached hereto is hereby incorporated herein and made a part of this Assignment
for all purposes.

 

f.  Successors and
Assigns. This Assignment shall bind and inure to the benefit of the Parties and their respective successors and assigns.

 

g. Counterparts.
This Assignment may be executed in any number of counterparts, including counterpart signature pages, and each counterpart hereof
shall be deemed to be an original instrument, but all such counterparts shall constitute but one instrument.

 

    Page 3 of 5

     

    

 

IN WITNESS
WHEREOF, the Parties have executed this Assignment as of the date(s) written above.

 

	SIGNATURES OF PARTIES
	 	 	 
	ASSIGNOR:	 	ASSIGNEE:
	 	 	 
	MOMENTUM ASSET PARTNERS I LLC	 	TMC CAPITAL, LLC
	 	 	By:  	Petroteq Energy CA, Inc.
	 	 	Its:  	Manager
	 	 	 
	By:	 /s/ Vyacheslav Komrash	 	By:	/s/ Aleksandr Blyumkin
	Name: 	Vyacheslav Komrash	 	Name: 	Aleksandr Blyumkin
	Title:	Manager  	 	Title:	President

 

    Page 4 of 5

     

    

 

EXHIBIT A

DESCRIPTION OF LEASE 

 

A certain federal oil
and gas lease, serialized in the records of the (U.S.) Bureau of Land Management as UTU-38071, covering and consisting of lands
situated and lying in Uintah County, Salt Lake Meridian (SLM), State of Utah, and being part of the application filed for conversion
to Combined Hydrocarbon Leases serialized as UTU-60569, all as more particularly described as follows:

 

	BLM Serial Lease No.

[Effective Date]	 	Assignment & Transfer

[Transfer of Operating Rights]	 	Overriding Royalty
	Land Description	 	Owned by Assignor	 	Conveyed to Assignee	 	 
	
        U-38071 

        Effective Date: 08/01/1969

        Township 14 South, Range 23 East (SLM)

        Uintah County, Utah

        Section 23 – All

        Section 26 – All

        Section 27 – All

         

        Surface and all subsurface depths
down to 1,000 ft.
	 	Undivided 50% of Operating Rights in and to all formations, intervals & deposits containing Oil Sands. 	 	All of Assignor’s rights and interests, consisting of an undivided 50% of Operating Rights in and to all formations, intervals & deposits containing Oil Sands.	 	Of Record

 

 

Page 5 of 5Exhibit 10.29

 

ASSIGNMENT
& TRANSFER OF FEDERAL OIL & GAS LEASES

AND
BILL OF SALE

 

[Tar
Sands Triangle, Utah]

 

This
ASSIGNMENT & TRANSFER OF FEDERAL OIL & GAS LEASES AND BILL OF SALE (“Assignment”), dated and
made effective as of April 1, 2019 (the “Effective Date”), is entered into by and between MOMENTUM ASSET
PARTNERS I LLC, a Nevada limited liability company, having a registered office at 50 West Liberty Street, Suite 880, Reno,
Nevada 89501 (“Assignor”), and TMC CAPITAL, LLC, a Utah limited liability company, having an office
at 15165 Ventura Boulevard, Suite 200, Sherman Oaks, California 91403 (“Assignee”) (the parties hereto sometimes
referred to individually as a “Party” or collectively as the “Parties”).

 

W
I T N E S S E T H:

 

For
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor hereby sells, grants,
assigns, conveys and otherwise transfers to Assignee, all of Assignor's right, title and interest in and to the following assets
(collectively, the “Acquired Assets”):

 

1.
The Leases. An undivided fifty percent (50%) of the rights and interests, consisting of “Operating Rights”
as defined under regulations of the U.S. Bureau of Land Management (“BLM”), owned or held by Assignor, or that
may be acquired by Assignor at any time hereafter, in and to certain federal oil and gas leases, serialized in the records of
the BLM as BLM Lease Nos. U-08291G, U-17781, U-17979, and U-20860, covering and including lands situated in Wayne and Garfield
Counties, Salt Lake Meridian (SLM), State of Utah, and included, either in whole or in part, in a “Special Tar Sands Area”
designated by the (U.S.) Department of Interior and referred to as “Tar Sands Triangle” (herein the “TST
STSA”), all as more particularly described in Exhibit A hereto (the “Leases”), together with:

 

(a)
All rights and interests under any Combined Hydrocarbon Lease (“CHL”) issued by the BLM under the Combined
Hydrocarbon Act of 1981 and the regulations promulgated thereunder, in which the Leases or any of the lands covered thereby are
converted or included, in each case that are attributable to the rights and interests in the Leases assigned and transferred to
Assignee hereunder; and

 

(b)
Any easements, rights-of-way, and other benefits or appurtenances granted under the terms of the Leases, including all rights
and claims under federal, state and local laws, rules and regulations that are associated with or appurtenant thereto or thereunder,
that are attributable to the rights and interests in the Leases assigned and transferred to Assignee hereunder;

 

SUBJECT,
HOWEVER, to the following:

 

The
rights and interests in and under the Leases assigned and transferred to Assignee herein consist of the exclusive right to explore
for, mine, extract, produce, process and market oil, gas and associated hydrocarbon substances from all formations or intervals
at the surface and at all depths down to 1,000 feet below the surface. For purposes hereof, the term “1,000 feet below the
surface” means a vertical depth of 1,000 feet below the point of any mining, extraction, production or other operation (including
any surface mining or insitu operation) that may be conducted by Assignee on or under lands covered by or included within the
Leases or any other leases or lands that may be pooled or unitized therewith for any reason or purpose.

 

    Page 1 of 5

     

    

 

2.
Personal & Mixed Property. An undivided fifty percent (50%) ownership or other right, title and interest in any equipment,
materials, supplies, files, records, CHL applications, plans of operation, and other personal property located on the Leases or
used in the operation of the lands covered thereby, in each case that are owned or held by Assignor or by third persons on behalf
of Assignor, or in which Assignor may have any interest, either in whole or in part, relating in any way to the rights and interests
in or under the Leases assigned and transferred to Assignee hereunder or to the development of the mineral resources in, under
or with respect to the Leases, or in any other property relating to the Leases as to which Assignor may have a claim of right
or interest;

 

3.
Surface & Subsurface Use. All rights, privileges, benefits, and powers conferred on the holder of the Acquired Assets
with respect to the use, occupation and operation of the surface and the subsurface of the Leases and the lands covered thereby,
in each case that are attributable to the rights and interests in the Leases assigned and transferred to Assignee hereunder, subject
to the depth limitations herein, and all rights in any pooled or unitized acreage included in whole or in part within the Leases
or any of the lands covered thereby, in each case limited by and that are attributable to the rights and interests in the Leases
assigned and transferred to Assignee hereunder;

 

4.
Permits, Licenses, Easements etc. All permits, licenses, servitudes, easements, right-of-way, orders, CHL applications,
assignments, records, documents, plans of operations and contracts relating in any way to the Leases and the lands covered thereby,
in each case to the extent of the rights and interests in the Leases assigned and transferred to Assignee hereunder, whether or
not such instruments or documents appear of record in the county where the lands covered by the Leases are located, including
without limitation any agreements with the BLM relating to the conversion of the Leases to any CHL under the Combined Hydrocarbon
Leasing Act of 1981 and BLM Regulations, in each case to the extent of, and that are attributable to, the rights and interests
in the Leases assigned and transferred to Assignee hereunder; and

 

5.
Files, Records & Data. An undivided fifty percent (50%) of all right, title and interest owned or held by Assignor
in any files, records, information and data relating to the matters and items described hereinabove (in paragraphs 1 through 4
above), including without limitation title records (including title opinions, abstracts, certificates of title and title curative
documents), contracts, geological or geophysical records, data and information, and production records, core data, electric logs
and all related documents pertaining to such matters.

 

TO
HAVE AND TO HOLD the Acquired Assets unto Assignee and its successors and assigns forever, subject, however, to the following:

 

a. Limitations
on Warranty of Title. The Acquired Assets are being assigned and conveyed hereunder to Assignee without any warranty of
title, except that Assignor warrants that the Leases, to the extent of the rights and interests assigned and transferred to
Assignee hereunder, are free and clear of all adverse claims, liens and other encumbrances.

 

    Page 2 of 5

     

    

 

b.
Overriding Royalty Interests. This Assignment shall be subject to such overriding royalty interests (“ORRI”)
as have been retained or reserved by Assignor’s predecessors-in-interest and that appear of record in the county or jurisdiction
within the State of Utah in which the lands covered by the Leases are situated or in the records of BLM. No ORRI is being reserved
by Assignor under this Assignment.

 

c.
Recording; Filing. Assignee shall be entitled to record this Assignment in the county or other jurisdiction in which the
lands covered by the Leases are located or, at Assignee’s request, Assignor shall execute a Memorandum of Assignment of
Federal Oil & Gas Leases (“Memorandum”) on or at any time after the date of this Assignment that may be
recorded in lieu of recording this Assignment in its entirety. The recording of any such Memorandum shall include a description
of the Leases and the lands covered thereby, together with the nature and scope of the rights and interests assigned and transferred
to Assignee hereunder, and shall be binding upon Assignor and Assignee, their respective successors and assigns, as though this
Assignment had been filed or recorded in its entirety.

 

d.
Approval by BLM; Further Assurances. (1) This Assignment is subject to the approval or consent of the BLM in accordance
with BLM regulations promulgated pursuant to the Mineral Leasing Act of 1920 and the Combined Hydrocarbon Act of 1981, as amended,
and regulations promulgated thereunder. In connection therewith, Assignor and/or its predecessors-in-interest or other holders
of interests in and under the Leases, or persons acting on their behalf, have previously notified BLM of its/their intent that
the Leases be converted to CHLs under the Combined Hydrocarbon Act of 1981 and have filed a plan of operations that has been determined
to be complete and has been accepted by BLM.

 

(2)
It is the intent of Assignor and Assignee that the Leases and the lands covered thereby shall be converted to one or more CHLs
issued by the BLM and that Assignee shall receive, own and hold, under any such CHL in which the Leases have been converted, all
of the rights and interests thereunder or contained therein in proportion to the rights and interests assigned and transferred
by Assignor to Assignee hereunder. Accordingly, if upon issuance of any CHL by BLM in or with respect to the TST STSA or otherwise,
the records of the BLM or other governmental authority, recorded or otherwise, reflect or show that Assignor (or any of its affiliates)
owns or holds any of the rights and interests under the Leases that have been assigned and transferred to Assignee under this
Assignment, Assignor shall execute and deliver to Assignee such additional assignment and transfer instruments as Assignee may
reasonably request in order to ensure that all of the rights, title and interests in the Leases assigned and transferred to Assignee
hereunder are recognized and approved by the BLM and reflected or included in any such CHL issued under and in accordance with
BLM regulations.

 

e.
Schedules and Exhibits. Each of the Schedules and Exhibits attached hereto is hereby incorporated herein and made a part
of this Assignment for all purposes.

 

f.
Successors and Assigns. This Assignment shall bind and inure to the benefit of the Parties and their respective successors
and assigns.

 

g.
Counterparts. This Assignment may be executed in any number of counterparts, including counterpart signature pages, and
each counterpart hereof shall be deemed to be an original instrument, but all such counterparts shall constitute but one instrument.

 

    Page 3 of 5

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Assignment as of the date(s) written above.

 

	SIGNATURES
    OF PARTIES
	 	 	 	
	ASSIGNOR:	 	ASSIGNEE:
	 	 	 
	MOMENTUM
    ASSET PARTNERS I LLC 	 	TMC
    CAPITAL, LLC
		 	 	By: Petroteq
    Energy CA, Inc.
	 	 	 	Its: Manager
			 	 	 
	By:	/s/
    Vyacheslav Komrash	 	By:	/s/
    Aleksandr Blyumkin
	Name:	Vyacheslav Komrash	 	Name:	Aleksandr Blyumkin
	Title: 	Manager	 	Title:	President

 

    Page 4 of 5

     

    

 

EXHIBIT
A

DESCRIPTION
OF LEASES 

 

Certain
federal oil and gas leases, serialized in the records of the (U.S.) Bureau of Land Management as specified below, covering and
consisting of lands situated and lying in Wayne and Garfield Counties, Salt Lake Meridian (SLM), State of Utah, and being part
of the application filed for conversion to Combined Hydrocarbon Leases serialized as UTU-71309, all as more particularly described
as follows:

 

	BLM Serial Lease Nos.
 [Effective Date]
	 	Assignment & Transfer

[Transfer of Operating Rights]

	 	Overriding Royalty
	
Land Description
 
	 	Owned by Assignor	 	Conveyed to Assignee	 	 
	U-08291G 
 Effective Date: 06/01/1969

                                                                                                                                                                                                                                                              
 Township 30 South, Range 16 East (SLM)
 Wayne County, Utah
 Section 25 – SW1⁄4
 

containing 160 acres, more or less.
	 	Undivided 50% of Operating Rights from surface down to 1,000 feet subsurface.	 	All of Assignor’s rights and interests, consisting of an undivided 50% of Operating Rights from surface down to 1,000 feet subsurface.	 	Of Record
	 	 	 	 	 	 	 
	U-17781
 Effective Date: 02/01/1972
 

Township 30 South, Range 16 East (SLM)
 Wayne County, Utah 
 Section 13 – E1⁄2NE1⁄4, SW1⁄4NE1⁄4, W1⁄2, NW1⁄4SE1⁄4
 

Section 14 – SE1⁄4NE1⁄4, E1⁄2SE1⁄4
 Section 23 – E1⁄2, E1⁄2W1⁄2
 Section 24 – All
 Section 25 – NW1⁄4
 

containing 1,880 acres, more or less.
 
	 	Undivided 50% of Operating Rights from surface down to 1,000 feet subsurface.	 	All of Assignor’s rights and interests, consisting of an undivided 50% of Operating Rights from surface down to 1,000 feet subsurface.	 	Of Record
	 	 	 	 	 	 	 
	U-17979
 Effective Date: 04/01/1972
 

Township 30 South, Range 16 East (SLM)
 Wayne County, Utah 
 Section 25 – W1⁄2NE1⁄4
 

Township 30.5 South, Range 16 East (SLM)
 Garfield County, Utah
 Section 25 – All
 

containing 720 acres, more or less.
 
	 	Undivided 50% of Operating Rights from surface down to 1,000 feet subsurface.	 	All of Assignor’s rights and interests, consisting of an undivided 50% of Operating Rights from surface down to 1,000 feet subsurface.	 	Of Record
	 	 	 	 	 	 	 
	U-20860 
 Effective Date: 12/01/1972
 

Township 31 South, Range 16 East (SLM)
 Garfield County, Utah
 Sec 03 – All
 Sec 04 – E1⁄2
 Sec 09 – N1⁄2
 

containing 1,280 acres, more or less.
 
	 	Undivided 50% of Operating Rights from surface down to 1,000 feet subsurface.	 	All of Assignor’s rights and interests, consisting of an undivided 50% of Operating Rights from surface down to 1,000 feet subsurface.	 	Of Record

 

Together
with all of the rights and interests in the Application filed by Benson-Montin-Greer Drilling Corp. with the U.S. Bureau of Land
Management on November 11, 1982, under and pursuant to the (U.S.) Combined Hydrocarbon Act of 1981 (amending the Mineral Leasing
Act of 1920) and serialized in BLM Case Recordation Serial # UTU-71309, to the extent of the rights and interests in the Leases
described hereinabove and the lands covered thereby.

 

Page 5 of 5

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