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3032739620 p.i <br />FROM Mi cnael L. Slake. P. C. PFgrE NO, 3037967219 Feb. 26 200a 08~25rY1 P1 <br />p.t:aFRMY'.NT FOR <br />PZ,rrrs•rxt• sxn nSaNDONMENT OF <br />Oii N~,4 D GAS WELL <br />TSIS AGREEMENT FOR PWGCING AND ABA,~iDONMEN'I' O!r OIL AND GAS <br />WELL is »~ this ~ day of Febrtaery, 2004, by and between texas Tea of Colorado, LLC, a <br />Colorado limited liability company whose address is 601 16th Street PMHC-344, Golden, Colorado <br />80401 (hereinafter "Texas Tea'), and FARFRUMWIIRKIN, LLLP, a Colorado Limited Liability <br />Limited Partnership whose address is 11811 Upham Street, t!l2, Broomfield, Colorado 80020 <br />(1lereioaftec "Owoer'7. <br />RECTTALS <br />WHEREAS,'1'exas Tea is the owner of that certain oil and gas weU kmwn as the Nelson <br />Jt2 Well ()>ueinaRer tTx: °WeU'~ situate in the ATW 1J4/SW 114, Section 32, Township 2 North, Range <br />68 West, County of Weld, State of Colorado (haei~Rer the °Land") and is the Lessee of the oil and <br />gas tease pertaining thereto (hereinafter the "Lease', ail as more fully describtd is Exhibit "A", <br />attached hereto and made a part hereof and <br />WHEREAS, (>aner is the surface owner of a portiat of the i.and and desires to develop its <br />portion of said Land;.tnd <br />WHEREAS, Owner desires to have Texas Tea permanently take the Well out of production <br />and to plug the Well in order to further develop said Land, and Texas Tea agrees to take the Well <br />out of production and to plug the Wcll; <br />NOW THERF,FORE, in consideration of dre foregoing premises and the mutual covenants <br />and agreements herein stated, and other good and valualtk consideration, the sufficitacy of which <br />is hereby acknowledged, the parties hereto ogee as follows:. <br />1. ~yment of Cone' lion. Owner shall pay to Texas Tea the sum of Forty Thousand <br />and 00/100 Dollars (540,000.00) in cash, check or certified funds cartempotatleously with the <br />execution of this Agteemeat, as consideration for the agreements of Texas Tea hereunder. Said <br />funds shall be considered earned monies of Texu Tea upon payment and nonrefundable. <br />2. P&A of the We1L5. Upon sixty (60) days written notice from FARFRUMW URK1N <br />LLLP i04 the same, Texas Tea agrees to pettnanemly phrg and abandon the W ell tmdcrTexas <br />Tea s bonds and/or permits, including but not limited to the following work: plugging and petutanettt <br />abandonmen of the Well; disconnecting, capping offend removing any flowlines from the Well as <br />necessary following all Colorado Ott and Gas Conservation Commission ("COGCC'~ artd county <br />policies and regulations relaned to plugging and pemranent abaodomrtent of the Well, attd retaovitig <br />the egtupmeot to be retained by Teas Tea (collectively the °P&A wotl.'~. Tacos Tea shall also clean <br />up any enviromnema! damage ransed dvting the plugging and abandonment of the Well; the site <br />surface reeismation of the Wails, and fbwliaes following all Colorado Oil acct Gas Conservation <br />Commission ("COGC'C"xcolkctively the "Site Reclamation'). Texas Tea shall obtain all »ecessary <br />~~ <br />