Fill and Sign the Agreement to Purchase Seismic Data with Option Form

AGREEMENT TO PURCHASE SEISMIC DATA WITH OPTION TO PURCHASE LEASE(With Owner of Lease) State: County: Seller: (Name and Address) Buyer: (Name and Address) Effective Date: (See Paragraph 5) Agreement Date: Seller, named above, represents it is the owner of an Oil and Gas Lease (the "Lease ") on lands (the "Lands") located in the county and state named above. The Lease and Lands are described as follows: (Lease and Land Description) Seller owns certain seismic data from the Lands (the "Data"). Buyer, named above, desires to acquire the right to examine, process, or reprocess the Data and to acquire an option to purchase the Lease. In consideration of the sum of $____ paid to Seller by Buyer as provided in paragraph 5. below, Seller and Buyer agree as follows: 1. Seller shall deliver to Buyer copies of field tapes of the Data. Buyer shall ha ve the exclusive right to examine, process, and reprocess the Data for a term of ____ (the "Term ") from the Effective Date. 2. Buyer shall have the exclusive right and option, at its sole discretion, to acquire or cause the acquisition of additional seismic data on the Lands during the Term. Buyer shal l obtain all permits and rights of ingress and egress from third parties which may be required to obtain additional data. Buyer shall be responsible for any shot hole or surface damages payable to surface owners due to any seismic program conducted by Buyer. Buyer agrees that all seism ic work undertaken by it shall be done in a lawful manner in accordance with all applic able laws, rules, and regulations. 3. At the conclusion of the Term, Buyer shall have the option, exercisable at its sole discretion at any time within ____ days following the end of the Term, to purchase the L ease and Data for the sum of $____ (the "Purchase Price"), provided Seller is able to deliver an assignment of the Lease as to: (Specify Requirements as to Amount of Acreage and Amount of Working Interest and Net Revenue Interest). If the Lease covers less than the interest set forth above, the Purchase Price shall be proportionately reduced. The Lease shall be assigned on a form acceptable to Buyer. The assignment will contain a warranty of title against persons claiming by, through, or under the assignor, but not otherwise. 4. The initial $____ paid to Seller in accordance with paragraph 5. below shall be credited to the Purchase Price provided for in paragraph 3. If Buyer elects not to purchase the Lea se and Data, the $____ payment shall remain the property of Seller as consideration for the right of Buyer to examine the Data and the option to purchase the Lease. 5. This Agreement shall be effective on the day Seller delivers to Buyer the Data at Buyer's address set out above. At that time, the $____ payment shall be paid to Seller. If the Data is not delivered within ____ days of Seller's execution of this Agreement, this Agreement shall be voidable at Buyer's sole option. 6. Buyer and Seller agree that it is not their intent to create any form of pa rtnership, joint venture, or mining partnership, nor to make either party the agent of or for the other. The obligations of each party under this Agreement shall be several and not joint or collective. This Agreement is signed by Seller and Buyer as of the date of the acknowledgments of their signatures below, but is effective for all purposes as of the Effective Date stated above. Seller Buyer