FIRST AMENDMENT TO 3-D SEISMIC ACQUISITION AND DEVELOPMENT AGREEMENTSeismic Acquisition and Development Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas
This FIFTH AMENDMENT 3-D SEISMIC ACQUISITION AND DEVELOPMENT AGREEMENT (the “Amendment”), dated as of March 23, 2023 (the “Effective Date”) is by and between CRUCIFORM PROPERTIES LLC (“Optionor”) and LAFAYETTE ENERGY CORP (“Optionee” and together with Optionor, the “Parties”) amends that certain First Amendment to 3-D Seismic Acquisition and Development Agreement entered into by and between Optionee and Optionor, dated as of December 16, 2022 (the “Option”). Capitalized terms used but not otherwise defined in this Amendment have the respective meanings ascribed to them in the Option.
EXECUTIVE EMPLOYMENT AGREEMENTExecutive Employment Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas • Utah
THIS EXECUTIVE EMPLOYMENT AGREEMENT (the “Employment Agreement”) is made by and between Gregory L. Overholtzer (“Executive”) and Lafayette Energy Corp (the “Company”); Executive and the Company are collectively referred to as the “Parties”. This Agreement shall be effective as of February 14, 2023 (the “Effective Date”).
ACQUISITION AND DEVELOPMENT AGREEMENTAcquisition and Development Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas
This ACQUISITION AND DEVELOPMENT AGREEMENT, dated as of March 8, 2022 (the “Effective Date”), is by and between Saur Minerals, LLC, a Louisiana limited liability company, with offices at 411 S. St. Pierre Street, Broussard, LA 70518 (“Seller”) and Lafayette Energy Corp., a Delaware corporation, with offices at 2140 South DuPont Highway, Camden, DE 19934 (“Buyer”, together with Seller, the “Parties”, and each individually, a “Party”).
SEISMIC LICENSE AGREEMENTSeismic License Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas
This SEISMIC LICENSE AGREEMENT (this “Agreement”), dated as of March 8, 2022 (the “Effective Date”), is by and between Saur Minerals, LLC, a Louisiana limited liability company, with offices at 411 S. St. Pierre Street, Broussard, LA 70518 (“Licensor”) and Lafayette Energy Corp., a Delaware corporation, with offices at 2140 South DuPont Highway, Camden, DE 19934 (“Licensee”, together with Licensor, the “Parties”, and each individually, a “Party”).
Re: Amendment to Acquisition and Development Agreement, dated March 8, 2022, by and between Saur Minerals, LLC and Lafayette Energy Corp., as amended to date (the “Acquisition Agreement”)Letter Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas
This letter agreement, dated as of the Effective Date stated above (this “Letter Agreement”), upon execution and acceptance, as hereinafter provided, shall evidence the agreement of Saur Minerals, LLC, a Louisiana limited liability company (“Seller”) and Lafayette Energy Corp, a Delaware corporation (“Buyer”, together with Seller, the “Parties”, and each individually, a “Party”) with respect to the issuance of “Equity Consideration” to Seller under the Acquisition Agreement (as defined in the Acquisition Agreement). The Parties hereby agree and acknowledge that the Acquisition Agreement is amended, retroactively to its original Effective Date, to remove the requirement that any “Equity Consideration” be issued as part of the “Purchase Price” under the Acquisition Agreement.
AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENTExecutive Employment Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas • Utah
THIS AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (the “Employment Agreement”) is made by and between Michael L. Peterson (“Executive”) and Lafayette Energy Corp (the “Company”); Executive and the Company are collectively referred to as the “Parties”. This Amended and Restated Employment Agreement amends and restates in its entirety that certain Executive Employment Agreement entered into by and between the Parties on April 1, 2022 (the “Original Agreement”). This Agreement shall be effective as of April 1, 2022 (the “Effective Date”).
Re: Amendment to Acquisition and Development Agreement, dated March 8, 2022, by and between Saur Minerals, LLC and Lafayette Energy Corp. (the “Acquisition Agreement”)Letter Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas
This letter agreement, dated as of the Effective Date (this “Letter Agreement”), upon execution and acceptance, as hereinafter provided, shall evidence the agreement of Saur Minerals, LLC, a Louisiana limited liability company (“Seller”) and Lafayette Energy Corp., a Delaware corporation (“Buyer”, together with Seller, the “Parties”, and each individually, a “Party”) with respect to the purchase and sale of certain Interests within the Development Area (each as defined in the Acquisition Agreement). To facilitate the prompt and efficient acquisition of Interests by Buyer under the Acquisition Agreement, the Parties hereby agree that instead of Seller first acquiring Interests that Seller then sells, assigns, conveys and transfers to Buyer through a subsequent Reconveyance in accordance with the terms of the Acquisition Agreement, the Parties agree that Buyer instead shall directly acquire such Interests in the first instance, with only subsequent Reconveyances to Seller of its ORRI as
STATE: Louisiana PARISH: AssumptionLafayette Energy Corp. • December 29th, 2023 • Crude petroleum & natural gas • Texas
WHEREAS, Optionor, named above, owns certain rights to a 3-D seismic survey data along with reprocessed data and analysis covering a 51.996 square mile area, more or less, known as the Napoleonville Field located in Assumption Parish, Louisiana (the reprocessed data and analysis of the 3-D Seismic Survey shall hereinafter be referred to as the “Data”), as further described in Exhibit “A” (the 51.996 square mile area shall hereinafter be referred to as the “Napoleonville Field”);
LEASEHOLD ACQUISITION AND DEVELOPMENT OPTION AGREEMENTLeasehold Acquisition and Development Option Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas • Utah
WHEREAS, HSO holds certain tar sands production leases in the State of Utah described in Exhibit A (the “Leases”) on certain properties described in Exhibit A (the “Property”), and is offering a 30% production share (“Proportionate Production Share”) to LEC in the Leases and HSO’s initial 960 acre drilling and production program, per the Asphalt Ridge Development Plan attached hereto as Exhibit B (the “Development Plan”), and additional rights as set forth herein;
LAFAYETTE ENERGY CORP RESTRICTED STOCK AGREEMENTRestricted Stock Agreement • December 29th, 2023 • Lafayette Energy Corp. • Crude petroleum & natural gas • Delaware
THIS AGREEMENT is made as of December 19, 2023, to be effective as of November 13, 2023 (the “Effective Date”) by and between Lafayette Energy Corp, a Delaware corporation (“Company”), and Heavy Sweet Oil LLC (“Purchaser”).
