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ASSIGNMENT OF OVERRIDING
ROYALTY INTEREST
STATE OF
TEXAS §
§ KNOW
ALL MEN BY THESE PRESENTS:
COUNTY OF
MEDINA §
FOR VALUE RECEIVED, PRODUCTION
RESOURCES, INC., a Texas corporation, hereinafter referred to as “Assignor”, for
and in consideration of TEN AND NO/100 DOLLARS ($10.00) and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by Assignor, hereby grants, bargains, sells, assigns, transfers and
conveys unto AMERICAN ENERGY PRODUCTION, INC. (“Assignee”), whose address is
P.O. Box 1406, Mineral Wells, Texas 76068, an overriding royalty interest equal
to 1.0% of 8/8ths of the oil, gas, and associated liquid and
liquifiable hydrocarbons produced, saved and sold under the terms of and by
virtue of the Oil and Gas Leases more particularly described in Exhibit “A” attached
hereto (“the Leases”), AS TO, BUT ONLY AS TO
oil and gas production from depths greater than 1,200 feet subsurface, it being
understood that this Assignment does NOT cover oil and gas
production from depths from the surface down to 1,200 feet. The
overriding royalty interest herein assigned is expressly made subject to the
pooling and unitization provisions contained in the Leases and Assignor, its
successors and assigns, shall have the right and power to pool or unitize such
overriding royalty interest with other lands, leases mineral or royalty
rights
TO HAVE
AND TO HOLD as of the Effective Date hereof all and singular the interests in
the Lease and production, assigned herein unto Assignee, his heirs,
representatives, successors and assigns forever. .
EXECUTED ________________, 2010, but
effective as of March 1, 2010.
PRODUCTION RESOURCES,
INC.
By:/s/ Shelby Beattie
Shelby
Beattie, President
STATE OF
TEXAS
§
§
COUNTY OF
______________ §
This instrument was acknowledged before
me on this the ___day of _____________, 2010, by ______________________,
President of Production Resources, Inc., a Texas corporation, on behalf of the
corporation.
________________________________
Notary Public, State of
Texas
EXHIBIT
“A”