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i <br />3. Jack M. Johnston is President of Panhandle Dril ing <br />Company and has authority to execute this Assig ment on <br />behalf of Panhandle Drilling Company. <br />In the event this Assignment shall be deemed ineffec ive for <br />any reason, or the warranties and representations of Assi Hors <br />set forth above are untrue, Assignee may reinstitute his laims <br />and proceedings against the Assignors and shall be indemnified <br />for his reasonable costs, including attorney fees in connection <br />therewith. <br />This Assignment is irrevocable and shall remain in f 11 <br />force and effect and shall be binding upon the heirs, suc essors <br />in interest or representatives of the Assignor. <br />IN WITNESS WHEREOF, Panhandle Drilling Company, throrjgh its <br />officer, and Jack M. Johnston, individually, have execut <br />Assignment this LL day of ~~~,,,,F. , 1987. <br />Panhandle Drilling Company <br />this <br />((Jack M. ,4yhnston, President <br />I <br />dr ,%rz ~~-~=~ ~ <br />lack M. ~o~Inston, Individually <br />2 <br />