Fill and Sign the Assignment of Oil and Gase Lease Legal Form

ASSIGNMENT OF OIL AND GAS LEASES(With Reservation of Production Payment) State: County: Assignor: (Name and Address) Assignee: (Name and Address) Effective Date: For adequate consideration, Assignor, named above, assigns, sells, and conveys to Assignee, named above, the Oil and Gas Leases (the "Leases") on lands located in the C ounty and State named above (the "Lands"). The Leases and Lands are described on Exhibit "A" to this Assignment and incorporated by this reference. By this Assignment, Assignor also sells, and conveys to Assignee all equipment, personal property, and fixtures located on the Lands or used in connection with the Leases. There is excepted from this Assignment and reserved to Assignor a production payment in the amount of $____ payable out of an undivided ____% of 8/8 of all oil, gas and associated hydrocarbons produced, saved and sold from the Lands under the Leases. At such time as the sum of $____ is received by Assignor from the reserved interest out of production from the Lands and Leases, this production payment shall terminate and the burden created by thi s production payment against the leasehold estate shall cease without further action on the part of Assignor or Assignee. Should the Leases cover less than 100% of the mineral estate in the Lands, or should Assignor own less than all of the leasehold estate in the Leases, the production payment reserved by Assignor shall be reduced proportionately. The interest assigned to Assignee shall bear and be subject to its proportionate share of all lease and leasehold estate burdens affecting or burdening Assignor's interest in the le ases which are of record as of the Effective Date of this Assignment. This Assignment is made without warranty of title, expressed or implied. It is execute d by Assignor as of the date of the acknowledgment below, but is effective as of the Effecti ve Date stated above. Assignor [Exhibit "A": Description of Leases and Lands]