Fill and Sign the Standard Industrialcommercial Mutli Tenant Lease Net Form

SEISMIC OPTION AND LEASE AGREEMENT State: County: Lessor: (Name and Address) Lessee: (Name and Address) Effective Date: Lessor, named above, is the owner of the mineral estate in the following lands (the "Lands") located in the county and state named above: (Description of Lands) Lessee, named above, desires to evaluate the Lands for oil and gas prospects by conducting seismic surveys and/or other geophysical exploration activities on the Lands. Following the conclusion of such surveys and activities, Lessee desires to obtain an oi l and gas lease on all or part of the Lands which appear to be prospective of oil and gas production. In consideration of the option price specified below, Lessor grants and conveys to Lessee, its successors and assigns, the following options and rights in and to the Lands, subject to the terms and conditions set forth in this Agreement: 1. Lessor grants to Lessee an exclusive option to enter on the Lands and conduct seismic surveys or other geophysical exploration activities of the Lands (the "Survey") for the purposes of determining the presence of oil and/or gas in and under the Lands. The Survey shall be conducted by Lessee, or its contractors, at Lessee's sole risk, cost, and expense. The Survey shal l consist of shooting a line or lines over and across the Lands as Lessee determines necessa ry. The methods and equipment utilized in the Survey shall be the usual and customary methods and equipment generally employed in the oil and gas industry in conducting surveys. In no event will Lessee use any equipment on the Lands other than trucks, vans, pickups and automobile s without first obtaining the consent of Lessor. No operations shall be conducted during wet weather. 2. Lessor grants Lessee the exclusive option to acquire an oil and gas lease on the Lands upon the terms provided below. This option shall be exercised by Lessee within the term of this Agreement by paying Lessor the bonus consideration provided below. Upon the payment of the bonus, by delivery of Lessee's check to Lessor, Lessor shall deliver to Lessee, or Lessee's designee, a duly executed and acknowledged oil and gas lease containing the same provisions as the form of lease attached to this Agreement as Exhibit "A." The lease shall be dated ____, shall cover all of the Lands or such parts of the Lands as Lessee shall designate, and shal l be for a primary term of ____ years. 3. The term of this Agreement shall be from the Effective Date until ____, ____, at 12 p.m ., unless it is extended by force majeure, as provided below, or the mutual agreement of Le ssor and Lessee. 4. The consideration for the execution of this Option Agreement shall be $____ per net mineral acre for each acre of the Lands owned by Lessor. 5. The total bonus consideration for the oil and gas lease, which shall be paid to Lessor upon the exercise of the option by Lessee to obtain a lease, shall be $____ per net mine ral acre owned by Lessor in the Lands to be leased. 6. The consideration paid under paragraph 4 shall be in lieu of and in full satisfaction and discharge of all ordinary and customary damages resulting to the Lands from the seismic or other geophysical operations conducted by Lessee, or its contractors, on the Lands prior to the dat e of a lease. 7. If Lessee is prevented by force majeure from conducting the Survey within the term of this Agreement, Lessee shall advise Lessor, in writing, of the circumstances constitut ing the force majeure, and the term of this Agreement shall be extended for a period of time equal to the time during which force majeure prevented Lessee from conducting the survey. Lessee shal l use reasonable diligence to remove the circumstances causing the force majeure. However, L essee shall not be required to settle any strike or other labor dispute or to accede to any demand which it deems unreasonable. "Force Majeure" as that term is used in this Agreement shal l mean an act of God, strike, lockout, or other industrial disturbance, act of public enemy, war, blockade, ri ot, lightening, fire, storm, flood, explosion, governmental action, governmental delay, restraint or inaction, unavailability of equipment, or other causes, whether similar to those enume rated above or otherwise, which is not reasonably within Lessee's control. 8. In lieu of recording this Agreement in the county where the Lands are located, Lessee may fill a notice of the Agreement. 9. This Agreement, and all its terms, shall be binding on and inure to the benefit of Lessor and Lessee and their heirs, successors, and assigns. This Agreement is executed by Lessor and Lessee as of the date of acknowledgment of their signatures below, but shall be deemed effective, for all purposes, as of the Effec tive Date stated above. Lessor Lessee [Exhibit "A": Form of Oil and Gas Lease]