CONTRACT OF SALE
This contract is made on this 1st day of June, 1995, between XXXXXX AND XXXXXXXX
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CORPORATION, a Texas corporation of X.X. Xxx 0000, Xxxxxxx, Xxxxx, hereinafter
referred to as "Xxxxxx" and TRANS ENERGY, INC., a Nevada corporation of X.X. Xxx
000, Xxxxx Xxxxx, Xxxx Xxxxxxxx, hereinafter referred to as "TRG". For the sum
of Ten dollars ($10.00) and other valuable consideration in hand paid by TRG,
Xxxxxx agrees to sell and TRG agrees to buy certain oil and gas leases,
engineering studies, core hole data, maps, technical data and various reports,
plus one producing gas well, all located in Lincoln District, Tyler County, West
Virginia, all of the above being listed on Exhibit A, attached hereto. The sale
price is $72,500 payable to Xxxxxx before July 31, 1995. Xxxxxx will deliver an
eighty per cent (80%) net revenue interest in all the leases involved.
TRG will be purchasing all of the data and leases acquired by Xxxxxx from Tetra
Systems, a terminated Colorado corporation and also, all of the leases presently
held by Xxxxxx in Tyler County, West Virginia. Consideration for this
transaction must be in TRG check payable to Xxxxxx and Xxxxxxxx Corporation at
their office address, or by wire transfer to Texas Commerce Bank N.A., Midland,
Texas, ABA #118000609, for deposit to the account of Xxxxxx and Xxxxxxxx
Corporation, Account #05101010956.
This is the complete Agreement among the parties executing this Contract of Sale
this 1st day of June, 1995.
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XXXXXX AND XXXXXXXX CORPORATION
By: /s/ X.X. Xxxxxx, Xx.
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X.X. Xxxxxx, Xx., Vice President
TRANS ENERGY CORPORATION
By: /s/ Xxxxx X. Xxxxxx
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Printed Name: Xxxxx X. Xxxxxx
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Title: President
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STATE OF VERMONT
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COUNTY OF XXXXXXXXXX
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BEFORE ME, a Notary Public in and for said County and State, on this day
personally appeared X. X. XXXXXX, XX., known to me to be the person and officer
whose name is subscribed to the foregoing instrument and acknowledged to me that
the same was the act of the said XXXXXX AND XXXXXXXX CORPORATION, a Texas
corporation, and that he executed the same as the act of such corporation for
the purposes and consideration therein expressed, and in the capacity therein
stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 30 day of May, 1995.
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/s/ Xxxxxxx X. Xxxxxxxxx
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Notary Public
Printed Name: Xxxxxxx X. Xxxxxxxxx
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My Commission Expires: Feb 10 0000
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XXXXX XX XXXX XXXXXXXX
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COUNTY OF XXXXXXXXX
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BEFORE ME, a Notary Public in and State, on this day personally appeared
Xxxxx X. Xxxxxx known to me to be the person and officer whose name is
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subscribed to the foregoing instrument and acknowledged to me that the same was
the act of the said Trans Energy, Inc. a Nevada corporation, and that he
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executed the same as the act of such corporation for the purposes and
consideration therein expressed, and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 1st day of June, 1995.
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/s/ Xxxxxxx X. Xxxxxxx
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Notary Public
Printed Name: Xxxxxxx X. Xxxxxxx
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My Commission Expires: February 11, 1997
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[SEAL OF WEST VIRGINIA NOTARY PUBLIC APPEARS HERE]
EXHIBIT A
(ATTACHED TO CONTRACT OF SALE DATED JUNE _____, 1995, BETWEEN XXXXXX AND
XXXXXXXX CORPORATION, AS GRANTOR, AND TRANS ENERGY, INC., AS GRANTEE)
Exhibit A contains the following listed interests, except that Xxxxxx and
Xxxxxxxx Corporation retains an overriding royalty of .075 on all oil and gas
produced form lands covered under such interests:
1. Oil and Gas Lease dated November 15, 1991, from Xxxxx X. XxXxx et al, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
2. Oil and Gas Lease dated November 15, 1991, from Xxxxx Xxxxxx, as single
woman, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
3. Oil and Gas Lease dated November 15, 1991, from Xxxxxxx Branch et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
4. Oil and Gas Lease dated November 15, 1991, from Xxxx Xxxxxx et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
5. Oil and Gas Lease dated November 15, 1991, from Xxxxx X. XxXxx et al, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
6. Oil and Gas Lease dated November 15, 1991, from Xxxx Xxxxxx et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
7. Oil and Gas Lease dated November 15, 1991, from Xxxxx Xxxxxx, as single
woman, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering
lands situated in the District of Lincoln, Tyler County, West Virginia,
more fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
8. Oil and Gas Lease dated November 15, 1991, from Xxxxxxx Branch et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
9. Oil and Gas Lease dated November 15, 1991, from Xxxxxx Xxxxxx et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease
EXHIBIT A - Page 2 (Attached to Contract of Sale Dated June _____, 1995, between
Xxxxxx and Xxxxxxxx Corporation, as Grantor, and Trans Energy, Inc., as Grantee)
recorded in Deed Book 294 at Page 3, Tyler County Commission, W. Virginia.
10. Oil and Gas Lease dated November 15, 1991, from R. E. Samples et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 294 at Page 7, Tyler County
Commission, W. Virginia.
11. Oil and Gas Lease dated November 15, 1991, from Xxxxxxx X. Xxxxx et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
12. Oil and Gas Lease dated November 15, 1991, from Xxxx X. Xxxxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
13. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 292 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
14. Oil and Gas Lease dated November 15, 1991, from Xxxxxxxx Xxxxxxx Xxxxxx
et ux, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering
lands situated in the District of Lincoln, Tyler County, West Virginia,
more fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
15. Oil and Gas Lease dated November 15, 1991, from Xxxxxx Xxxxxxx Parks et
ux, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering
lands situated in the District of Lincoln, Tyler County, West Virginia,
more fully described in Lease recorded in Deed Book 294 at Page 11, Tyler
County Commission, W. Virginia.
16. Oil and Gas Lease dated November 15, 1991, from Xxxxxxx X. Xxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
17. Oil and Gas Lease dated November 15, 1991, from X. X. Xxxxxx et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
18. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxxxx, a
single man, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee,
covering lands situated in the District of Lincoln, Tyler County, West
Virginia, more fully described in Lease recorded in Deed Book 293 at Page
000, Xxxxx Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx .
2
EXHIBIT A - Page 3 (Attached to Contact of Sale Dated June _____, 1995, between
Xxxxxx and Xxxxxxxx Corporation, as Grantor, and Trans Energy, Inc., as Grantee)
19. Oil and Gas Lease dated November 15, 1991, from Xxxx X. Xxxxx, as Lessor,
to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands situated in
the District of Lincoln, Tyler County, West Virginia, more fully described
in Lease recorded in Deed Book 293 at Page 000, Xxxxx Xxxxxx Xxxxxxxxxx,
X. Xxxxxxxx.
20. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 292 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
21. Oil and Gas Lease dated November 15, 1991, from Xxxxx X. Xxxxxxx, a single
woman, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering
lands situated in the District of Lincoln, Tyler County, West Virginia,
more fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
22. Oil and Gas Lease dated November 15, 1991, from Xxxxx X. Xxxxxxx, a single
woman, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering
lands situated in the District of Lincoln, Tyler County, West Virginia,
more fully described in Lease recorded in Deed Book 292 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
23. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 292 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
24. Oil and Gas Lease dated November 15, 1991, from Xxx X. Xxxxx, as Lessor,
to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands situated in
the District of Lincoln, Tyler County, West Virginia, more fully described
in Lease recorded in Deed Book 293 at Page 000, Xxxxx Xxxxxx Xxxxxxxxxx,
X. Xxxxxxxx.
25. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxx et ex, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 294 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
26. Oil and Gas Lease dated November 15, 1991, from W. Xxxxxx Xxxxx, as his
separate property, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as
Lessee, covering lands situated in the District of Lincoln, Tyler County,
West Virginia, more fully described in Lease recorded in Deed Book 292 at
Page 000, Xxxxx Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
27. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 292 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
EXHIBIT A - Page 4 (Attached to Contract of Sale Dated June _____, 1995, between
Xxxxxx and Xxxxxxxx Corporation, as Grantor, and Trans Energy, Inc., as Grantee)
28. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxxxx et al,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 292 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
29. Oil and Gas Lease dated November 15, 1991, from Xxxxxxx Xxxxxxx, as her
separate property, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as
Lessee, covering lands situated in the District of Lincoln, Tyler County,
West Virginia, more fully described in Lease recorded in Deed Book 292 at
Page 000, Xxxxx Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
30. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 292 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
31. Oil and Gas Lease dated November 15, 1991, from Xxxxx X. XxXxx et al, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the city limits of Sistersville, Lincoln District, Tyler
County, West Virginia, more fully described in Lease recorded in Deed Book
295 at Page 000, Xxxxx Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
32. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 292 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
33. Oil and Gas Lease dated November 15, 1991, from Xxxxxxx Xxxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 294 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
34. Oil and Gas Lease dated November 15, 1991, from Xxxxx X. Xxxxxxxxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 293 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
35. Oil and Gas Lease dated November 15, 1991, from Xxxxx X. Xxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in Lincoln and Union Districts, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 294 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
36. Oil and Gas Lease dated November 15, 1991, from Xxxxxx X. Xxxx et ux,
as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 301 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
EXHIBIT A - Page 5 (Attached to Contract of Sale Dated June _____, 1995,
between Xxxxxx and Xxxxxxxx Corporation, as Grantor, and Trans Energy, Inc., as
Grantee)
37. Oil and Gas Lease dated November 15, 1991, from Xxxxxx Xxxxxxx et ux, as
Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, covering lands
situated in the District of Lincoln, Tyler County, West Virginia, more
fully described in Lease recorded in Deed Book 294 at Page 000, Xxxxx
Xxxxxx Xxxxxxxxxx, X. Xxxxxxxx.
38. Interests acquired by Xxxxxx and Xxxxxxxx Corporation from Sancho Oil and
Gas, covering all that certain 40 acres in the form of a circle around the
well known as the Xxxxxxxx #1, this well being part of that certain oil
and gas lease between F. R. Xxxxx, to C. R. Pevel, recorded August 21,
1891, in Book 16 at Page 000, Xxxxx Xxxxxx Xxxxx Xxxxxxx, Xxxx Xxxxxxxx.
39. Interests acquired by Xxxxxx and Xxxxxxxx Corporation in assignment dated
May 14, 1992, from Tetra Systems, Inc., recorded in Book 297 at Page 52,
covering interest in 478 acres from F. R. Xxxxx, as Grantor, to C. R.
Duel, as Grantee, in assignment dated August 21, 1891, recorded in Book 16
at Page 311 and interest in 452 acres from x. Xxxxx, as Grantor, to X. X.
Xxxxx, as Grantee, in assignment dated November 22, 1889, recorded in Book
16 at Page 295, all in records of Tyler County, West Virginia.
40. Oil and Gas Lease dated November 15, 1991, from Xxxxxxxx X. Xxxxxxxx et
ux, as Lessor, to Xxxxxx and Xxxxxxxx Corporation, as Lessee, more fully
described in Lease recorded in Book 140 at Page 630, Record of Monroe
County, Ohio.
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