Chancellor Group Inc/ Sample Contracts

RECITALS
Purchase and Sale Agreement • November 18th, 2011 • Chancellor Group Inc. • Crude petroleum & natural gas • Texas
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EXHIBIT 10.7 LOAN AGREEMENT
Loan Agreement • April 23rd, 2007 • Chancellor Group Inc/ • Crude petroleum & natural gas • Texas
EXHIBIT 10.9 LOAN AGREEMENT
Loan Agreement • April 23rd, 2007 • Chancellor Group Inc/ • Crude petroleum & natural gas • Texas
RECITALS
Stock Purchase and Contribution Agreement • May 15th, 2013 • Chancellor Group Inc. • Crude petroleum & natural gas • Texas
PURCHASE AGREEMENT
Purchase Agreement • June 2nd, 2010 • Chancellor Group Inc/ • Crude petroleum & natural gas

This agreement is entered into this the 6th day of May, 2010, between CHARLIE HEATER, d/b/a H 5 PRODUCERS, a sole proprietorship, herein Seller and GRYPHON PRODUCTION CO., LLC, herein Buyer, the terms of which are as follows:

COMPROMISE SETTLEMENT AGREEMENT AND RELEASE OF ALL CLAIMS
Compromise Settlement Agreement and Release • September 5th, 2008 • Chancellor Group Inc/ • Crude petroleum & natural gas • Texas

This COMPROMISE AND SETTLEMENT AGREEMENT AND RELEASE OF ALL CLAIMS (the “Agreement”) is entered into by and between Chancellor Group, Inc., Gryphon Production Company, LLC, and Gryphon Field Services, LLC (the “Chancellor Parties”) and New Concept Energy, Inc. (“NCE”), each of whom stipulates and agrees to the following:

Letterhead of Legacy Reserves Operating, LP]
Chancellor Group Inc/ • September 5th, 2008 • Crude petroleum & natural gas

Reference is made to that certain Escrow Agreement dated July 14, 2008, attached to and made a part of the Agreement (the “Escrow Agreement”). Section 2.2 of the Agreement required that Buyer transmit to Western National Bank (“WNB”), as Escrow Agent, the Deposit (as that term is defined in the Agreement), in an amount equal to Six Hundred Seventy-Five Thousand and No/100 Dollars ($675,000.00). Buyer has previously tendered that Deposit, and the Escrow Agent currently holds the Deposit pursuant to the terms of the Escrow Agreement. In recognition of the actions filed by New Concept’s Energy, Inc. (“NCE”) related to the Bankruptcy Cases, and the indemnification provisions of Section 16.1(D) the parties have agreed to modify the amount to be held in the Escrow Account as well as the terms for release of funds from the Escrow Account by the Escrow Agent. In that regard, the parties agree to the following:

BILL OF SALE AND ASSIGNMENT OF CONTRACTUAL RIGHTS
Chancellor Group Inc/ • August 30th, 2007 • Crude petroleum & natural gas

THIS BILL OF SALE AND ASSIGNMENT OF CONTRACTUAL RIGHTS (the “Bill of Sale”) is made and entered into as of the 9th day of August 2007, by and among CHANCELLOR GROUP, INC., a Nevada corporation, whose address is 216 S. Price Road, Pampa, Texas 79065 ("Chancellor"), GRYPHON PRODUCTION COMPANY, LLC, a Texas limited liability company, whose address is P.O. Box 742, Pampa, Texas 79066 ("Gryphon Production"), and GRYPHON FIELD SERVICES, LLC, a Texas limited liability company, whose address is P.O. Box 742, Pampa, Texas 79066 ("Gryphon Field Services") (collectively, with Chancellor and Gryphon Production, individually and collectively, the “Seller”), and CAPWEST RESOURCES, INC., a Texas corporation, whose address is 508 West Wall Street, Suite 1100, Midland, Texas 79701 (the “Purchaser”). The Seller and the Purchaser are sometimes hereinafter collectively referred to as the “Parties”.

DIRECTOR’S SETTLEMENT AGREEMENT
S Settlement Agreement • December 11th, 2008 • Chancellor Group Inc/ • Crude petroleum & natural gas • Texas

DIRECTOR’S SETTLEMENT AGREEMENT, dated as of the 9th day of December, 2008 (“Agreement”), by and between Chancellor Group, Inc., a Nevada corporation, with offices at 216 South Price Road, Pampa, TX 79065 (“Chancellor ”), and Peter Harris, of 162/299 Queen St., Melbourne, Victoria 3000 Australia ("Peter Harris”), Chancellor and Peter Harris are sometimes referred to herein as the “Parties”, or individually as a “Party”.

MODIFICATION OF MULTIPLE ADVANCE TERM NOTE
Chancellor Group Inc/ • August 30th, 2007 • Crude petroleum & natural gas

WHEREAS, heretofore and under date of April 13, 2007, CHANCELLOR GROUP, INC., GRYPHON PRODUCTION COMPANY, LLC. and GRYPHON FIELD SERVICES, LLC (hereafter called the "Borrower") made, executed and delivered to WESTERN NATIONAL BANK, one certain Multiple Advance Term Note in the original principal amount of $5,000,000.00, with a current balance of $2,300,000.00 payable at maturity, including any and all accrued interest, bearing interest at the rate therein provided, with a final maturity of April 15, 2010; and

PURCHASE AGREEMENT
Purchase Agreement • May 10th, 2010 • Chancellor Group Inc/ • Crude petroleum & natural gas

This agreement is entered into this the 6th day of May, 2010, between CHARLIE HEATER, d/b/a H 5 PRODUCERS, a sole proprietorship, herein Seller and GRYPHON PRODUCTION CO., LLC, herein Buyer, the terms of which are as follows:

DIRECTOR’S SETTLEMENT AGREEMENT
S Settlement Agreement • December 11th, 2008 • Chancellor Group Inc/ • Crude petroleum & natural gas • Texas

DIRECTOR’S SETTLEMENT AGREEMENT, dated as of the 9th day of December, 2008 (“Agreement”), by and between Chancellor Group, Inc., a Nevada corporation, with offices at 216 South Price Road, Pampa, TX 79065 (“Chancellor ”), and John C. Y. Lee, of 2/60 Hartwood Street, Kew East, Victoria 3102 Australia ("John Lee”), Chancellor and John Lee are sometimes referred to herein as the “Parties”, or individually as a “Party”.

FIRST AMENDMENT TO LOAN AGREEMENT
Loan Agreement • August 30th, 2007 • Chancellor Group Inc/ • Crude petroleum & natural gas

THIS FIRST AMENDMENT TO LOAN AGREEMENT (this “Amendment”) is entered into as of the 9th day of August 2007, by and among CHANCELLOR GROUP, INC., a Nevada corporation, whose address for purposes of this Agreement is 216 S. Price Road, Pampa, Texas 79065 (“Chancellor”), GRYPHON PRODUCTION COMPANY, LLC, a Texas limited liability company, whose address for purposes of this Agreement is P. O. Box 742, Pampa, Texas 79066 (“Production”), and GRYPHON FIELD SERVICES, LLC, a Texas limited liability company, whose address for purposes of this Agreement is P. O. Box 742, Pampa, Texas 79066 (“Field Services”)(Chancellor, Production, and Field Services being collectively referred to herein as the “Borrowers”), and CAPWEST RESOURCES, INC., a Texas corporation, whose address for purposes of this Agreement is 508 West Wall Street, Suite 1100, Midland, Texas 79701 (the ALender@).

FIRST MODIFICATION AND AMENDMENT TO ADVANCING LINE OF CREDIT/TERM NOTE
Chancellor Group Inc/ • August 30th, 2007 • Crude petroleum & natural gas

THIS FIRST MODIFICATION AND AMENDMENT TO ADVANCING LINE OF CREDIT/TERM NOTE (this “Modification”) is entered into as of the 9th day of August 2007, by and among CHANCELLOR GROUP, INC., a Nevada corporation, whose address for purposes of this Agreement is 216 S. Price Road, Pampa, Texas 79065 (“Chancellor”), GRYPHON PRODUCTION COMPANY, LLC, a Texas limited liability company, whose address for purposes of this Agreement is P. O. Box 742, Pampa, Texas 79066 (“Production”), and GRYPHON FIELD SERVICES, LLC, a Texas limited liability company, whose address for purposes of this Agreement is P. O. Box 742, Pampa, Texas 79066 (“Field Services”)(Chancellor, Production, and Field Services being collectively referred to herein as the “Maker”), and CAPWEST RESOURCES, INC., a Texas corporation, whose address for purposes of this Agreement is 508 West Wall Street, Suite 1100, Midland, Texas 79701 (the ALender@).

October 16, 2007
Separation and Release Agreement • October 22nd, 2007 • Chancellor Group Inc/ • Crude petroleum & natural gas
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