NEW MEXICO STATE LAND OFFICE APPLICATION FOR ASSIGNMENT OF A GENERAL MINING LEASEOil or Gas Lease Agreement |
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assigns and conveys to: BE Resources, Inc. ("Assignee" whether one or more), whose mailing address is 107 Hackney Cr., Elephant Butte, NM 87935, the entire interest and title in and to Mineral Lease No. HG-0060 ("the Lease") initially made by the New Mexico State Land Office to: Great Western Exploration, LLC, dated January 3, 2005, insofar as the Lease covers the following land in Socorro County, New Mexico:
together with the rights incident thereto, and improvements thereon, if any. Assignee assumes and agrees to perform all duties and obligations to the Commissioner of Public Lands including payment of rentals and royalties, and to do such other acts as are required by the Lease, to the same extent and in the same manner as if the provisions of the Lease were fully set out herein. Assignee warrants the leasehold estate herein assigned, except as to any valid overriding royalty, production payment, operating agreement or sub-lease, if any, now of legal record, and covenants to the Assignee and the Commissioner of Public Lands that the leasehold estate assigned is valid, and that all rentals and royalties due under the Lease have been paid in full, and that all other Lease obligations presently due have been fully performed.
The undersigned Assignee named above hereby agrees to be bound by all of the terms, covenants, and conditions of the Lease and this Assignment and shall succeed to the rights and benefits under the Lease.
Office of the Commissioner of Public Lands
Santa Fe, New Mexico I hereby certify that this Assignment was filed in my office on RECEIVED SEP 06 2007, and was approved by me and shall be effective as to the State of New Mexico on APPROVED SEP 10 2007.
State of NEW
MEXICO County of SIERRA This instrument was acknowledged before me on SEPT. 4, 2007 (date) by David Q. Tognoni (name(s) of person(s)) as General Manager, (type of authority, e.g., officer, trustee, etc.) of Great Western Exploration, LLC (name of party on behalf of whom instrument was executed.)
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