Alberta Purchase and Sale Agreement for Oil and Gas Rights

Transfer your rights in an Alberta oil and gas lease with this Alberta Purchase and Sale Agreement for Oil and Gas Rights.

• 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.