Alberta Purchase and Sale Agreement for Oil & 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.