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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.
    Download Type: Microsoft Word
    Last Updated: 05-July-2021
    SKU: 636