Assets of Oil and Gas Acquisition and Exploitation Company

Sale of oil and gas assets of Weatherly Oil & Gas, LLC (Seller's) at Sligo Field, Bossier Parish, Louisiana. The sale assets more described as below:

• The oil and gas leases of seller associated with, or held by production from, the Wells (as hereinafter defined), whether or not adequately described on Exhibit A of the PSA, including mineral interests, royalty interests and overriding royalty interests associated with such leases (collectively, the “Leases”) together with any interests in leases that are pooled or unitized with any of the Leases and all lands covered by the Leases or such pools or units (the “Lands”);
• All oil and gas wells, water wells and all other wells located on or under the Leases and/or Lands, including the oil and gas wells more fully described on Exhibit B of the PSA (the “Wells”) and all hydrocarbons produced therefrom and all proceeds of production in respect of any of the Wells net to seller's interest and arising from and after the Effective Time (as defined in the PSA);
• Expressly excluding the Rejected Contract to the extent the Court authorizes the rejection of such agreement, all contracts, including executory contracts and unexpired equipment leases to be assumed by Buyer and assigned by seller, joint operating agreements, permits, licenses or order(s) of any Governmental Authority affecting or associated with the Leases, Lands and Wells, including those set forth on Exhibit C of the PSA (excluding the Leases and Surface Rights, the “Contracts”);
• All surface rights, easements and rights-of-way related to the Leases and Lands, including those set forth on Exhibit D of the PSA(the “Surface Rights”);
• The associated equipment, pipelines and facilities located on the Leases, Lands or Surface Rights and used or reasonably anticipated to be used in connection with operations of the Wells including, but not limited to, pipelines, gathering lines, stored pipe, compressors, sucker rods, meters, valves and other production equipment, SCADA, measurement and communication equipment and semi-portable field offices;
• All accounts receivable or negative suspense amounts owed to seller as operator of any Wells to satisfy previous overpayments by seller to third parties, and the right to recoup the same out of proceeds of production in respect of such Wells with respect to the period on and after the Effective Time (the “Negative Suspense”); and
• To the extent related to any items described in subsections (a)-(f) above and to the extent not constituting Excluded Assets (as defined in the PSA), all lease files, land files, well files, gas and oil sales contract files, gas processing files, division order files, abstracts, title opinions, land surveys, environmental surveys, inspections, assessments, and reports, logs, maps, engineering data and reports, interpretive data, technical evaluations and technical outputs, reserve studies and evaluations, and other books, records, data, files, and accounting records, in each case to the extent related to the oil and gas interests, or used or held for use in connection with the maintenance or operation thereof, but excluding any books, records, data, files, logs, maps, evaluations, outputs, and accounting records to the extent disclosure or transfer would result in a violation of applicable law or a contractual obligation to a third party (subject to such exclusions the “Records”); provided, however, that seller may retain the originals of such Records as seller has reasonably determined may be required for existing litigation, tax, accounting, and auditing purposes.