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.