Farmout Agreement Sample Contracts

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FARMOUT AGREEMENT
Farmout Agreement • September 29th, 2022 • England and Wales

TABLE OF CONTENTS CLAUSE 1 DEFINITIONS 4 CLAUSE 2 TRANSFER OF INTEREST 8 CLAUSE 3 CONDITIONS TO TRANSFER 10 CLAUSE 4 CONSIDERATION 15 CLAUSE 5 INTERIM PERIOD 22 CLAUSE 6 REPRESENTATIONS AND WARRANTIES OF THE PARTIES 24 CLAUSE 7 TAX 33 CLAUSE 8 CONFIDENTIALITY 35 CLAUSE 9 NOTICES 36 CLAUSE 10 LAW AND DISPUTE RESOLUTION 37 CLAUSE 11 FORCE MAJEURE 39 CLAUSE 12 DEFAULT 39 CLAUSE 13 GENERAL PROVISIONS 41 EXHIBITS:

FARMOUT AGREEMENT
Farmout Agreement • April 29th, 2010 • Dynamic Hydrocarbons Ltd. • Crude petroleum & natural gas

STONE CANYON RESOURCES, INC., a body corporate registered in the State of Colorado, USA, and having an office at the City of Calgary, in the Province of Alberta, Canada

FARMOUT AGREEMENT BETWEEN
Farmout Agreement • November 8th, 2022 • New York

THIS FARMOUT AGREEMENT (this “Agreement”) is entered into on the 13th day of March, 2009, by and between Far East Energy (Bermuda), Ltd., a company existing under the laws of Bermuda (hereinafter referred to as “Farmor”) and Arrow Energy International Pte Ltd, a company organized under the laws of the Republic of Singapore (hereinafter referred to as “Farmee”). The companies named above, and their respective successors and assignees (if any), may sometimes individually be referred to as “Party” and collectively as the “Parties”.

FARMOUT AGREEMENT
Farmout Agreement • April 21st, 2003 • Texen Oil & Gas Inc • Metal mining • Texas

THIS AGREEMENT is entered into by and among Texas Brookshire Partners, Inc., whose address is 10603 Grant Rd., Houston, Texas 77070 (hereinafter collectively referred to as "Farmor") and Texas Energy Exploration II, LLC, whose address is 457 Eden Ranch Dr., Canyon Lake, Texas 78133 (hereinafter referred to as "Farmee").

Form of Farm-Out Agreement for PEP 38723 Dated 2002 GONDWANA ENERGY (NZ) LIMITED AND DURUM ENERGY (NEW ZEALAND) LIMITED FARMOUT AGREEMENT PEP 38723
Farmout Agreement • September 30th, 2003 • Tag Oil LTD • Oil & gas field exploration services
FARMOUT AGREEMENT
Farmout Agreement • November 14th, 2012 • Delta Oil & Gas Inc • Oil & gas field exploration services

THIS FARMOUT AGREEMENT (“Agreement”) is made effective the 7th day of September, 2012 between Delta Oil & Gas, Inc. (hereinafter referred to as “Delta”) and MPG King City Project, L.P., (hereinafter referred to as “MPG”).

FARMOUT AGREEMENT
Farmout Agreement • March 18th, 2013 • Norstra Energy Inc • Crude petroleum & natural gas • Nevada

Summit West Oil, LLC, a company incorporated under the laws of the State of Washington and having an office at 1048 West 11th. Avenue, Spokane, WA 99204

FARMOUT AGREEMENT This Farmout Agreement dated the 19th day of December, 2006 is BETWEEN:
Farmout Agreement • January 8th, 2007 • Tekoil & Gas Corp • Oil & gas field services, nec • Alberta

PTARMIGAN RESOURCES LTD., a body corporate having an office in the City of St. John’s in the Province of Newfoundland (hereinafter referred to as “Ptarmigan”)

FARMOUT AGREEMENT Rio Vista Gas Field Cache Slough Prospect Solano County, California
Farmout Agreement • May 26th, 2005 • Delta Oil & Gas Inc • Oil & gas field exploration services

THIS AGREEMENT is made effective the 25th day of May, 2005 between Production Specialties Company (hereinafter referred to as “PSC”) and Delta Oil and Gas, Inc. (hereinafter referred to as “DOG”).

FARMOUT AGREEMENT BY AND BETWEEN SCS CORPORATION LTD. AS FARMOR, AND SOUTH ATLANTIC PETROLEUM LIMITED AS FARMEE DATED MARCH 30, 2017
Farmout Agreement • April 6th, 2017 • Hyperdynamics Corp • Crude petroleum & natural gas • England and Wales

THIS FARMOUT AGREEMENT (this “Agreement”) is made and entered on March 30, 2017 (the “Execution Date”) by and between SCS Corporation Ltd., a company registered in the Cayman Islands, with its address at 12012 Wickchester Lane, Suite 475, Houston, TX 77079, USA, a wholly owned subsidiary of Hyperdynamics Corporation, a Delaware corporation traded on the OTCQX (the “Farmor”), and South Atlantic Petroleum Limited, a company registered under the laws of the Federal Republic of Nigeria, with its registered address at 11th and 12th Floors, South Atlantic Petroleum Towers, 1 Adeola Odeku Street, Victoria Island, Lagos, Nigeria (the “Farmee”). Farmor and Farmee are collectively referred to herein as the “Parties” and individually referred to as a “Party.”

FARMOUT AGREEMENT Toole County, Montana
Farmout Agreement • October 31st, 2013 • Axiom Oil & Gas Corp. • Services-management consulting services • Montana

Now, therefore, for and in consideration of $100.00, the promises set forth below and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

Re: Farmout Agreement
Farmout Agreement • July 15th, 2004 • Netco Energy Inc • Oil & gas field exploration services

This Agreement reflects terms and conditions that are acceptable to both Moxie Exploration Ltd. ("Moxie") and Netco Energy Inc. ("Netco").

AMENDMENT NO. 2 FARMOUT AGREEMENT
Farmout Agreement • November 29th, 2011 • Gulf United Energy, Inc. • Metal mining • Texas

This Amendment No. 2 to the Farmout Agreement (this “Agreement”) is entered into November 28, 2011 to be effective on October 30, 2011 (of “Amendment No. 2 Effective Date”) between SK INNOVATION CO., LTD. (formerly known as SK Energy Co., Ltd.), a corporation organized and existing under the laws of the Republic of Korea (“Farmor”), and GULF UNITED ENERGY DE COLOMBIA LTD., a company organized and existing under the laws of the British Virgin Islands (“Farmee”). Farmor and Farmee are sometimes referred to collectively as “Parties” and individually as “Party.”

FARMOUT AGREEMENT
Farmout Agreement • April 30th, 2007 • Majestic Oil & Gas • Drilling oil & gas wells

THIS AGREEMENT, made and entered into as of the ______ day of , 2007, by and between ALTAMONT OIL & GAS, INC., P.O. Box 488, Cut Bank, MT 59427 and NUMBERS, INC., 1500 Manulife Place, 10180 - 202 Street, Edmonton, AB T5J 4K1, referred to as “FARMOR”, and MAJESTIC OIL & GAS, INC., CBM Building, Cut Bank, MT 59427, hereafter referred to as “FARMEE”,

Bayshore Exploration L.L.C. 20501 Katy Freeway, Suite 216
Farmout Agreement • March 19th, 2007 • Paxton Energy Inc • Crude petroleum & natural gas • Texas

This Farmout Agreement is entered into on this 29th day of December, 2006, by and between Bayshore Exploration L.L.C. (“Bayshore”), as Farmor, and Paxton Energy, Inc. (“Paxton”), as Farmee, pertaining to the Fiedler No. 1 Well located on the Storey Ranch Prospect in La Salle County, Texas. The parties hereto agree to the following terms and conditions:

FARMOUT AGREEMENT
Farmout Agreement • February 27th, 2004 • Knight Resources LTD • Alberta

WHEREAS the Farmor holds an undivided 100% interest in the Title Documents and the Farmout Lands and has agreed to farmout a portion of such interest to the Participant in accordance with the provisions hereof;

FARMOUT AGREEMENT Rio Blanco County and Moffat County, Colorado
Farmout Agreement • June 30th, 2009 • Dejour Enterprises LTD • Mining & quarrying of nonmetallic minerals (no fuels) • Colorado

This Farmout Agreement ("Agreement") is entered into this 14th day of November, 2008, by and between Laramie Energy II, LLC, (hereinafter referred to as "Laramie") and Dejour Energy (USA) Corp., (hereinafter referred to as "Dejour") and Brownstone Ventures (US), Inc., (hereinafter referred to as "Brownstone") (Dejour and Brownstone are, sometimes, hereinafter collectively referred to as "Dejour/Brownstone"). Laramie and Dejour/Brownstone may be referred to individually as a "Party" or collectively as the "Parties."

Farmout agreement example
Farmout Agreement • October 15th, 2021
FARMOUT AGREEMENT
Farmout Agreement • December 30th, 2005 • Surge Global Energy, Inc. • Crude petroleum & natural gas

DEEP WELL OIL & GAS, INC., a Nevada corporation extra-provincially registered in Alberta (“Deep Well”) and NORTHERN ALBERTA OIL LTD., an Alberta corporation (“Northern”)

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FARMOUT AGREEMENT BETWEEN Bancorp Holdings, LLC, Carrier Acquisitions, LLC, LHMF, LLC, as farmors AND RICHLAND RESOURCES CORPORATION, SUN DELTA, INC., AND AMERRIL ENERGY LLC, AS FARMEES
Farmout Agreement • September 14th, 2012 • Richland Resources Corp. • Crude petroleum & natural gas • Texas

This Farmout Agreement (this “Agreement”) is entered into effective as of the 23rd day of July, 2012 (the “Effective Date”), by and between BANCORP HOLDINGS, LLC, an Arkansas limited liability company, CARRIER ACQUISITIONS, LLC, an Arkansas limited liability company and LHMF, LLC, a Nevada limited liability company (each a “Farmor”, collectively, “Farmors”), and RICHLAND RESOURCES CORPORATION, a Nevada corporation d/b/a RRCH Corp. (“Richland”), SUN DELTA, INC., a Colorado corporation (“Sun Delta”), and AMERRIL ENERGY LLC, an Oklahoma limited liability company (“Amerril”)(each a “Farmee,” collectively, “Farmees”). Where applicable, Farmors and Farmees may be referred to herein collectively as the “Parties” or individually as a “Party.”

FARMOUT AGREEMENT
Farmout Agreement • June 24th, 2020 • Texas

hereinafter known as Farmor and Crimson Energy Partners IV, LLC, whose address is 420 Commerce Street, Fort Worth, Texas 76102, hereinafter referred to as “Farmee”.

Farmout Agreement
Farmout Agreement • February 12th, 2008 • PetroSouth Energy Corp. • Metal mining

This Farmout Agreement (“FOA”), when accepted and agreed to by the under­signed parties, shall set forth the terms, conditions and covenants under which Transco Oil & Gas, Inc., here­inafter referred to as "Farmor" and those entities listed on the signature page, hereinafter referred to collec­tively as "Farmee”, shall pursue the exploration and development of the North Semitropic Prospect Area. In consideration of the mutual terms and covenants provided in this FOA, Farmor and Farmee agree as follows:

FARMOUT AGREEMENT
Farmout Agreement • October 26th, 2006 • Daybreak Oil & Gas Inc • Blank checks • Washington

THIS FARMOUT AGREEMENT MADE BY AND BETWEEN DAYBREAK OIL AND GAS, INC., a Washington Corporation, hereinafter referred to as "DAYBREAK" and MONARCH GULF EXPLORATION INC., a Washington Corporation, hereinafter referred to as "MONARCH"

AMENDMENT NO. 3 FARMOUT AGREEMENT
Farmout Agreement • June 19th, 2012 • Gulf United Energy, Inc. • Metal mining • Texas

THIS Amendment No. 3 to the Farmout Agreement (this :Agreement”) is entered into to be effective on April 30, 2012 (of “Amendment No. 3 Effective Date” between SK INNOVATION CO., LTD. (formerly known as SK Energy Co., Ltd.), a corporation organized and existing under the laws of the Republic of Korea (“Farmor”), and GULF UNITED ENERGY DE COLOMBIA LTD., a company organized and existing under the laws of the British Virgin Islands, (“Farmee”). Farmor and Farmee are sometimes referred to collectively as “Parties” and individually as “Party”.

FARMOUT AGREEMENT
Farmout Agreement • January 21st, 2020 • Discovery Energy Corp. • Oil & gas field exploration services

THIS AGREEMENT is entered into on the 18th day of October 2019 by and between Discovery Energy SA Pty Ltd ACN 158 204 052 of Level 8, 350 Collins Street, Melbourne VIC 3000, a company existing under the laws of Victoria, Australia (hereinafter referred to as “DESAL”) and, WESI PEL512 Pty Ltd ACN 635 946 682 of Suite 33.01, Chifley Tower, 2 Chifley Square, Sydney NSW 2000, a company existing under the laws of New South Wales, Australia (hereinafter referred to as “WESI”). The companies named above, and their respective permitted successors and assignees (if any), may sometimes individually be referred to as “Party” and collectively as the “Parties”.

FARMOUT AGREEMENT for BUENAVISTA BLOCK by and between PETROSOUTH ENERGY CORPORATION SUCURSAL COLOMBIA and DELAVACO ENERGY COLOMBIA INC. SUCURSAL COLOMBIA
Farmout Agreement • September 19th, 2008 • West Canyon Energy Corp. • Metal mining

THIS AGREEMENT is entered into on the [DAY] day of [MONTH] 2008 by and between PETROSOUTH ENERGY CORPORATION SUCURSAL COLOMBIA, a branch of the foreign corporation PetroSouth Energy Corporation, established by public deed 657 dated March 5, 2007, from Notary 35 of Bogotá, legally represented by its authorized officer, Mr. FELIPE PIMIENTA BARRIOS, Colombian citizen, domiciled in Bogotá, DC, identified with the citizen identification card number 79.785.924, according to the Certificate of Legal Existence and Representation issued by the Chamber of Commerce of Bogotá, attached hereto as Exhibit A (hereinafter referred to as “Farmor”); and DELAVACO ENERGY COLOMBIA INC. SUCURSAL COLOMBIA, a Colombian Branch Office of DELAVACO ENERGY COLOMBIA INC., established by public deed 3.713 dated June 3 of 2.008, from Notary 6 of Bogotá, legally represented by its authorized officer, Mr. ANDREW DEFRANCESCO, Canadian citizen, domiciled in Ontario, identified with Canadian Passport number WJ709416, acco

Farmout Agreement
Farmout Agreement • September 29th, 2015 • Torchlight Energy Resources Inc • Crude petroleum & natural gas • Texas

THIS FARMOUT AGREEMENT is entered into on the 23rd day of September, 2015 by and between Hudspeth Oil Corporation and Pandora Energy, LP (hereinafter collectively referred to as “Farmor”), Founders Oil & Gas, LLC (hereinafter “Farmee”), McCabe Petroleum Corporation and Greg McCabe (McCabe Petroleum Corporation and Greg McCabe are Parties to this Farmout Agreement only as to Article 3.4). The companies named above and their respective successors and assigns (if any), may sometimes individually be referred to as “Party” and collectively as the “Parties.”

Synergy Producing Properties, LLC
Farmout Agreement • January 10th, 2022 • Us Energy Corp • Crude petroleum & natural gas • Texas

This letter shall put into writing the farmout agreement (the “Agreement”) between U.S. Energy Corp, a Wyoming corporation (“Farmor”) and Synergy Offshore, LLC, a Texas limited liability company (“Farmee”) hereto covering certain properties located in Glacier and Toole Counties, Montana. On October 4, 2021, Farmee entered into a Purchase and Sale Agreement (“PSA”) with Farmor in which Farmee conveyed to Farmor, among other assets, all right title and interest in and to Farmee’s producing properties located in Montana. With specific reference to said PSA, and subject to the terms and conditions set out below, Farmor hereby agrees to farmout back to Farmee certain rights in and to the specific properties located in Glacier and Toole Counties, Montana (“Farmout Properties”), the legal descriptions of which set forth in Exhibit “A”, attached hereto, and the units, leases and wells associated with the properties set forth in Exhibit “B” hereto.

ASSIGNMENT OF FARMOUT INTEREST
Farmout Agreement • July 2nd, 2008 • Cobra Oil & Gas CO • Drilling oil & gas wells

THIS ASSIGNMENT is made and entered into, by and between, West Canyon Energy Corp., also known as PetroSouth Energy Corp. hereinafter collectively referred to as “Assignor”, and Cobra Oil & Gas Company, hereinafter referred to as “Assignee”.

AMENDMENT No. 1 FARMOUT AGREEMENT
Farmout Agreement • August 26th, 2011 • Gulf United Energy, Inc. • Metal mining • Texas

THIS Amendment No. 1 to the Farmout Agreement (this “Agreement”) is entered into on August 25, 2011 (“Effective Date”) between SK INNOVATION CO., LTD. (formerly known as SK Energy Co., Ltd.), a corporation organized and existing under the laws of the Republic of Korea (“Farmor”), and GULF UNITED ENERGY DE COLOMBIA LTD., a company organized and existing under the laws of the British Virgin Islands, (“Farmee”). Farmor and Farmee are sometimes referred to collectively as “Parties” and individually as “Party.”

FARMOUT AGREEMENT King City Oil Field King City Prospect Monterey County, California
Farmout Agreement • August 18th, 2009 • Delta Oil & Gas Inc • Oil & gas field exploration services

THIS FARMOUT AGREEMENT (“Agreement”) is made effective the 25th day of May, 2009 between Sunset Exploration, Inc. (hereinafter referred to as “Sunset”) and Delta Oil & Gas, Inc. (hereinafter referred to as “Delta”).

AMENDMENT TO FARMOUT AGREEMENT
Farmout Agreement • December 23rd, 2004 • Altus Explorations Inc • Gold and silver ores

Altus Explorations, Inc. (“Altus” or “Assignor”), a Nevada Corporation, and Orbit Energy, LLC (“Orbit” or “Operator”), a Nevada Limited Liability Company, are Parties to a Farmout Agreement made and entered into on the 30th day of June, 2004. Pursuant to the Farmout Agreement, Altus assigned its interests in certain oil and gas leases in Chautaque County, Kansas to Orbit as Operator. Acreage associated with such oil and gas leases is collectively identified as the Lake Creek Prospect Acreage.

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