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Alberta Offer to Sell Interest in Crown Leases
Sell your interest in certain crown leases with this template form for Alberta oil and gas assets.
- Allocation of Purchase Price. The offer sets out how the purchase price will be allocated between petroleum and natural gas rights, tangibles, and miscellaneous interests.
- Calculation of Interest. The template contains two interest clauses - one if interest is being calculated, and one if no interest is payable.
- Acceptance. If accepted, the offeror will prepare a formal purchase and sale agreement.
- Conditions Precedent:
- The offer is subject to the purchaser performing a satisfactory due diligence review of all books, files, records, and contracts.
- The transaction is subject to the purchaser receiving all necessary regulatory approvals for the sale.
- The offer is also conditional upon the purchaser conducting a satisfactory environmental audit.
- The transaction is subject to the vendor being satisfied that Alberta Energy will approve the transfer.
- Environmental Liability. The purchaser will assume all environmental liabilities.
- Jurisdiction. The offer is written with the intention of being used within the Province of Alberta. However, it can be modified for use in other provinces of Canada.
$14.99
Alberta Purchase and Sale Agreement for Oil and Gas Leases
Sell your interest in oil and gas leases with this Purchase and Sale Agreement for the Province of Alberta.
- The Vendor will prepare and pay the cost of the conveyances.
- The Vendor will remit the GST payable on the transaction.
- The closing is subject to several conditions, including satisfactory completion of the purchaser's review.
- The Agreement contains standard representations and warranties given by each party.
- Each party indemnifies the other.
- Operating costs and proceeds will be adjusted as of the adjustment date, and the purchase price will be adjusted accordingly.
- The Vendor will maintain the assets in accordance with good oil field practice until the closing and will not make any commitments or expenditures in excess of a specified amount without the consent of the Purchaser.
- The Vendor will give appropriate notice to third parties with rights of first refusal.
- This Purchase and Sale Agreement for oil and gas leases is intended for use in the Province of Alberta, Canada.
$29.99
Alberta Specific Conveyance Agreement for Oil and Gas Assets
Transfer title to oil and gas assets in Alberta with this simple Specific Conveyance Agreement form.
- The Conveyance form transfers the vendor's (seller's) interest in certain petroleum lands, leases, rights, units and facilities being sold and transferred to the purchaser under a Purchase and Sale Agreement.
- The purchaser becomes liable for all obligations with respect to the interests on the closing date.
- This legal contract template is available in MS Word format and is fully editable.
- Intended for use in the Province of Alberta, Canada.
$5.99