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Hole # Legal Description <br />1 SENE Section 13, T12N, R92W <br />2 NWNE Section 25, T12N, R92W <br />3 SESE Section 22, T12N, R92W <br />4 SWSE Section 36, T12N, R92W <br />5 SESE Section 16, T12N, R91W <br />6 NWSE Section 36, T12N, R91W <br />7 SWNW Section 13, T11N, R91W <br />8 SENW Section 10, T11N, R91W <br />9 SWNE Section 34, T11N, R91W <br />10 SWSW Section 19, T12N, R92W <br />Linc Energy will initiate the study upon approval of access by the Colorado State Land Board. The <br />studies will not be conducted if the area is covered by snow or if roadway conditions become difficult or <br />hazardous due to muddy conditions. Vehicles will not enter the property if significant ruts would be <br />produced on the road surface. Linc Energy plans to conduct the study during the period that extends to <br />the end of the year 2011. <br />Linc Energy presented Mr. Timothy Kelly of the Denver Office of the Colorado State Land Board with an <br />exploration permit application on August 3, 2011. A copy of the permit application was also sent to <br />Lane Osborn of the District Office in Moffat County on August 3, 2011. <br />The surface lessees are listed above. Prior to accessing the property, Linc Energy will be notified lessees. <br />Any issues by the Lessee will be directed to Lane Osborn, District Office, and resolved prior to Linc <br />Energy's entrance to the lease. <br />To the extent allowed by law, Linc Energy Operations, Inc. agrees to assume liability for all damages to <br />the property of the Land Board and to its lessees or other third parties, resulting from acts, omissions or <br />use of the land or rights granted under this agreement. <br />Alexander Papp <br />Exploration Manager <br />Linc Energy Operations, Inc. <br />Fueling our Future <br />www.Iincenergy.com <br />Lessee Name <br />Cliff Henderson <br />Cliff Henderson <br />Cliff Henderson <br />C &C Cattle, LLC <br />Tom McKee <br />J Peroulis&Sons <br />J Peroulis &Sons <br />J Peroulis&Sons <br />J Peroulis&Sons <br />John Wiebel <br />I concur: <br />For the Colorado Board of Land Commissioners <br />The fee for granting this temporary permission shall be 6500.00 for a period not to <br />exceed June June 30, 2012. <br />O'i°C <br />En�xcY <br />Linc Energy Operations, Inc, <br />1200 17th St. <br />Suite 2100 <br />Denver, CO 80202 <br />P 303 623 0510 <br />F 303 623 0547 <br />E info @lincenergy.com <br />