2008-04-14_PERMIT FILE - C1981028 (2)

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PDC should review the Oil and Gas Lease(s) affected by its operations and comply with the terms and conditions contained therein. The undersigned assumes and this Opinion is predicated upon PDC's familiarity and compliance with all agreements, whether recorded or not, affecring its interest and right to conduct operations on the captioned lands. 9. Insomuch as the captioned lands are under a single lease there are no Declarations of Pooling of record for the said lands, and none would be required for the proposed operations. 10. The materials examined did not include any Encumbrances affecting the working, overriding royalty and royalty owners' interest in the captioned lands. 11. Your attention is directed to the easements and rights-of--way listed herein. PDC should review all easements of record to determine the location thereof, and conduct a surface inspection for evidence of prescriptive or unrecorded easements. PDC should exercise caution not to interfere with the rights of parties in possession. 12. A review of the grantor/grantee records of the Clerk and Recorder,. Weld County, Colorado, did not reveal the presence of any valid transcripts of judgment encumbering the interest of any parry entitled to proceeds from production from the subject well. 13. The materials examined include the following, potentially relevant, Memoranda of Gas Purchasing and Processing Agreements {and/or Amendments thereto}; Memorandum of Gas Purchase and Processing Agreementrecarded at Book 1095, Reception No. 2035466, re-recorded at Book 1099, Reception No. 2039523, references Agreement October 14, 1983, by and between Aeeite Energy Corporation, et al., and I~fatural Gas Associates, affecting the captioned lands. By instrument recorded December 11, 1.986 at Reception No. 20$0260, Natural Gas Associates conveyed their interest in this agreement to Associated Natural Gas, Inc. 14. An examination of the Weld County Assessor's records (via the iiternet) reflects that real property taxes are paid in full. There is no indication that taxes are assessed separately on the mineral estate. The materials examined did not indicate any information regarding production based taxes; thus, the undersigned cannot comment on the status thereof. 15. The acreage figures used in this Opinion far each of the i~~acts are based in part upon the materials examined, including prior title opinion(s) (where applicable), and to the extent necessary have been extrapolated fro2~z such materials. In the event of a dispute as to these acreage t~gures, it may become necessary to obtain a survey on certain tracts. "it is dist~rrrt+y understood and agreed as evidenced by your 15a+cc~=~n~c~ of ttstis op'srr fo3n that ~etr~;eum V~ abl spa cr•,Yt VCr~vraGOn Gnd Its .~. L:LiCJ{u i~ri+^'.'a Gr~ ~~ n0 .~~y „:;~s,~;, f;r;, of corporation fcr any loss or inconvenience ~,a ~;y ti,~ ~;e of er rei,anc~ upon this o~linzun. .i'A'.~......