Tract No. 30

Purchase price includes the lease bonus and 1st year rental and buyer's premium. Buyer will be responsible for paying rental payments for years 2 through 5.

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There is no assurance that there is any potential for production on any tract offered for leasing by the State Board of Land Commissioners.

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A) There shall be No Surface Occupancy on the Leased Land. Lessee and its successors or assigns shall not enter upon or use the surface of the Leased Land for conducting any surface, drilling or other operations.

B) Lessee will be required to pay a one-time payment to the Department of Human Services (DHS) of $259,100, which will be paid within 30 days of the auction close date;

C) Lessee will use noise mitigation technology to lessen sounds from oil and gas operations and Board Lessee will be subject to the strictest “Zone” requirements stated in Colorado Oil and Gas Conservation Commission Noise Abatement Regulation 802;

D) Lessee will ensure that vehicles will not be left unlocked and unattended at the well pad or at any location within 500 feet of the Leased Land;

E) Lessee will seek and receive DHS written approval prior to shooting any seismic tests on the Leased Land;

F) Other than where entry onto the surface of the Leased Land is necessary to respond to an emergency caused by oil and gas development, Lessee will not have access to the surface of the Leased Land at any time for any purpose without the express written permission of DHS nor will Lessee attempt to access or otherwise disturb DHS’s sole and exclusive use of the surface of the property;

G) DHS shall have the same protections afforded to the Lessor in Paragraphs 19, 25, 27, 29(b)(i), and 34, and as a third party beneficiary to the Lease, DHS shall have the authority to enforce the Paragraphs specified.

H) Lessee agrees that DHS may take any actions necessary, including legal action, to enforce the payment provision contained in Stipulation (B) above.

Drilling Permits from the last 365 days in Arapahoe County, Colorado

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Drilling Rigs on location in Arapahoe County, Colorado

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After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.

A 2% Buyer Premium, calculated as 2% of the total rental, will be added to the cost of this lease.