EX-10.3 8 exh103.htm JOINT VENTURE AGREEMENT WITH COLORADO OIL & GAS, INC. Exhibit 10.3 - Joint Venture Agreement with DNR.

Exhibit 10.3

COBRA
 OIL & GAS COMPANY

    
   
   
   

17790 E. Purdue Place

t: 303 618-2855

Aurora, Colorado

f: 303 766-0637

U. S. A. 80013

  

 

 

 

 

COLORADO OIL & GAS, INC.

May 15, 2006

7260 Osceola Street

Westminster, Colorado 80030

U.S.A.


Re: JOINT VENTURE AGREEMENT

Colorado Oil & Gas, Inc. (COG) 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. COG 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

    		  

    COG Costs

    $ 5,750.00

    (25% of $23,000.00)

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

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


COLORADO OIL & GAS, INC.

  

By: William W. Steward

Signature: WILLIAM W. STEWARD

Title: President/CEO