EX-10.2 7 exh102.htm JOINT VENTURE AGREEMENT WITH DNR OIL & GAS COMPANY. Exhibit 10.2 - Joint Venture Agreement with DNR.

Exhibit 10.2

COBRA
 OIL & GAS COMPANY

    
 
   
   

17790 E. Purdue Place

t: 303 618-2855

Aurora, Colorado

f: 303 766-0637

U. S. A. 80013

  

 

 

 

 

DNR OIL & GAS COMPANY

May 15, 2006

12741 E. Caley, Unit #142

Centennial, Colorado

80111

Re:   JOINT VENTURE AGREEMENT

DNR OIL & GAS COMPANY (DNR) does hereby agrees to purchase a 25% (twenty five percent) working interest in the Mike Prospect in Adams County, Colorado, Section 23,24-1S-62W.

  1. DNR will pay 25% of the up-front Prospect Fee & Land Costs upon execution of this agreement.

    Land

    $20,000.00

    		  

    Prospect Fee

    3,000.00

    		  

    Total Costs

    $23,000.000

    		  

    DNR Costs

    $ 5,750.00

    (25% of $23,000.00)

  2. DNR will pay 25% of any lease rentals required.

  3. DNR will pay 25% of the costs of drilling and completion upon receipt of an AFE.


DNR OIL & GAS COMPANY

  

By: Charles B. Davis

Signature: CHARLES B. DAVIS

Title: President