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before or after the effective date of the assignment or transfer. The provisions of this
paragraph shall not apply to any transfer by operation of law or grant of a mortgage
or security interest in any oil and gas interest subject to this Agreement, but shall
apply to any transfer of legal title to the interest pursuant to or in lieu of any
mortgage or security interest.
This Agreement may be executed in any number of counterparts, each of which
shall be considered an original for all purposes.
D. Severability:
For the purposes of assuming or rejecting this Agreement as an executory
contract pursuant to federal bankruptcy laws, this Agreement shall not be severable,
but rather must be assumed or rejected in its entirety, and the failure of any Party to
this Agreement to comply with all of its financial obligations provided it in shall be a
material default.
22. PROPOSED ACTIVITIES:
Operator will drill 5 new wells and convert 1 of the older wells into a water injection
well. Should any of the 5 new wells be commercially productive, Operator will
complete them.
IN WITNESS WHEREOF, the undersigned has executed this Operating Agreement
this ________ day of __________________, 2019.
______________________________________ ____________________________________
Signature of Owner Signature of Co-Owner
OPERATOR
ROYAL TEXAN RESOURCES CO.
By: _____________________________________
Brent Hatchett, President
Operating Agreement - Page 11 of 15