EXHIBIT 10.6
ADVENTURE ENERGY-REBELL
OIL
TURNKEY DRILLING
CONTRACT
THIS AGREEMENT made and entered into this the
10th day of March, 2009 , by and between Adventure
Energy, Inc . a Florida Corporation, of 33 6
th
Street South, Suite 600, St.
Petersburg, FL 33701 ,
hereafter referred to as “OPERATOR” and Rebell Oil
of Kentucky , a Kentucky Limited Liability Company, of 396
J. Bell Rd, Edmonton, KY 42129 , hereinafter referred to as
“CONTRACTOR”.
IN CONSIDERATION of the mutual promises, conditions and
agreements herein contained and the specifications and special
provisions set forth in Exhibit “A” attached
hereto and made a part hereof (the “Contract”),
Operator engages Contractor as an independent contractor to drill
the hereinafter designated wells in search of oil or gas on a
Turnkey basis.
For the
purposes hereof the term “Turnkey” or Turnkey
Basis” means Contractor shall furnish the equipment, labor
and perform services as herein provided to drill wells, as
specified by Operator, to the Turnkey Depth. Subject to
terms and conditions hereof, payment to Contractor at a stipulated
price is provided for herein. While drilling on a
Turnkey Basis Contractor shall direct, supervise and control
drilling operations and assumes certain liabilities to the extent
specifically provided for herein.
Well name and
Number:______ J.L.
Blaydes Well#1
___________________________
Parish/County:____ Metcalfe
_______________ State:__ Kentucky ___ Field
Name:_______
Well location
and land description:_____ East Fork USGS Quadrangle 160
acres ___________
LOCATION OF
WELL #2
Well name and
Number:______ J.L.
Blaydes Well#2
___________________________
Parish/County:____ Metcalfe
_______________ State:__ Kentucky ___ Field
Name:_______
Well location
and land description:_____ East Fork USGS Quadrangle 160
acres ___________
LOCATION OF
WELL #3
Well name and
Number:____ J.L.
Blaydes Well#3
_______________________________
Parish/County:___ Metcalfe ____________
State:_ Kentucky ___ Field Name:_____________
Well location
and land description:__ East Fork USGS Quadrangle 160 acres
_______________
Well name and
Number:____ J.L.
Blaydes Well#4
_______________________________
Parish/County:___ Metcalfe ____________
State:_ Kentucky ___ Field Name:_____________
Well location
and land description:__ East Fork USGS Quadrangle 160 acres
_______________
Well name and
Number:____ J.L.
Blaydes Well#5
_______________________________
Parish/County:___ Metcalfe ____________
State:_ Kentucky ___ Field Name:_____________
Well location
and land description:__ East Fork USGS Quadrangle 160 acres
_______________
The above is
for well and Contract identification only and Contractor assumes no
liability whatsoever for a proper survey or location stake on
Operator’s lease.
2. COMMENCEMENT DATE:
Contractor
agrees to use reasonable efforts to commence operations for the
drilling of the well by 25 th day March 2009 , or earlier at the
request of the Operator.
Subject to provisions hereof, the wells shall be
drilled to the depth specified below:
Turnkey
Depth: The
well shall be drilled up to 2000 feet or ____________ of the
_________________ formation, or the depth at which the
_____________ inch casing or liner set, whichever is the lesser
depth, which will herein be referred to as the Turnkey
Depth.
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4.
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TURNKEY AMOUNT, REIMBURSABLE COSTS TO
CONTRACTOR:
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Contractor shall be paid as follows for the work
performed hereunder.
Turnkey amount: For work performed on Turnkey Basis as herein
provided the amount will be $44,500 for a well from
1001’ up to 2000’ and $33,000 for a well up to
1000’.
Reimbursable
Costs: Operator shall
reimburse Contractor for the costs of material, equipment, work or
services which are to be furnished by Operator as provided for
herein but which for convenience are actually furnished by
Contractor at Operator’s request, plus ___________________
percent for such cost of handling. When, at
Operator's request and with Contractor's agreement, the Contractor
furnishes or subcontracts for certain items or services which
Operator is required herein to provide, for purposes of the
indemnity and release provisions of this Contract said items or
services shall be deemed to be Operator furnished items or
services. Any subcontractors so hired shall be deemed to be
Operator's contractor, and Operator shall not be
relieved of any of its liabilities in connection
therewith.
Payment is due
by Operator to Contractor as follows:
Turnkey
Basis: Payment becomes
due for all Turnkey servic
