Armada Oil Inc (fka AOILQ)

[diy_investor]

My understanding is that the company will only earn $131,250 from the sale.

To: Terry Vickery
Managing Member
Energy Management Resources, LLC
445 Inion Blvd
Suite 101
Lakewood, CO 80228

RE: Offer to sell oil and gas leases, wells, production and equipment located in Young County Texas, sometimes referred as “M.V. Keller - 23 acres lease” field no. 07484 and “M.V. Keller -100 acres lease” field no. 07415

As further described in Exhibit A attached hereto and incorporated herein by reference (collectively, the "Subject Properties").

Mr. Vickery,

Armada Oil, Inc. et al, and/or related entities ("Seller") hereby offers to sell unto Energy Management resources, LLC., et al, ("Buyer") all of the right, title, and interest, including all real and personal property owned by ("Seller") in the property and respective interest shown on the attached Exhibit "A" for the sum of Ten Dollars ($10.00) and other valuable consideration (“Purchase Price”). Seller shall reserve a 17.5% overriding royalty interest until payout in the Subject Properties. For purposes of this agreement the term (“Payout”) shall mean that point in time when Seller shall has recovered from it’s overriding royalty interest an amount equal to One Hundred Thirty-one Thousand Two Hundred Fifty Dollars ($131,250.00).

The properties to be purchased shall include Seller's working and revenue interest plus all oil and gas, fee, mineral, royalty, and producing and associated non-producing leasehold estates; franchises, licenses, servitudes, easements, surface leases, rights-of-way, contracts and agreements affecting such estates; production facilities, salt water disposal systems, pipelines, gathering lines and any other personal properties or fixtures used in connection with the operation of such estates for oil and gas production. All of the foregoing shall hereinafter be referred to as the "Property".

http://www.sec.gov/Archives/edgar/data/1081074/000118518513002457/ex10-2.htm

Here is the last press release from the buyer.

http://www.otcmarkets.com/stock/NHPI/news/NHPI-Has-Completed-4-Work-Overs-on-Producing-Wells-on-the-Keller-Leases-in-the-Ft--Worth-Basin?id=77325&b=y