Juneau Clause Samples

Juneau. Juneau will provide its know-how and expertise in oil and gas exploration and development to the Company. Prior to the execution of this Agreement, Juneau acquired for and on behalf of the Company Texas State Lease No. M-101255 covering the N/2 of the NE4 of the area designated as Galveston Block 149L according to the map thereof in the General Land Office of the State of Texas. Concurrently with the execution of this Agreement, Juneau is transferring that Lease to the Company. As soon as the contribution of ▇▇▇ becomes available funds, the Company will pay Juneau Two Hundred Ten Thousand Two Hundred dollars ($210,200.00) in reimbursement of its cost in acquiring the Lease. Accordingly, this Lease does not constitute a capital contribution by Juneau to the Company. Fairfield consents to the transfer of the aforesaid Lease to the Company and releases all rights it has under a separate agreement with Juneau in respect of that Lease.