01-2001PetroNaturalGasAgreement - Laserfiche WebLink

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THE CORPORATION OF THE COUNTY OF ESSEX BY-LA W NUMBER 01-2001 A BY-LAW TO AUTHORIZE THE EXECUTION OF A PETROLEUM AND NATURAL GAS LEASE AGREEMENT BETWEEN THE CORPORATION OF THE COUNTY OF ESSEX AND SOUTHWEST PETROLEUM EXPLORATIONS INC. WHEREAS By-law Number 3250-96, dated October 16th 1996, authorized the Corporation of the County of Essex to enter into a Petroleum and Natural Gas Lease and Grant with Elexco Ltd.; AND WHEREAS By-law Number 3287-97 authorized amendments thereto, including an amendment to the term of the lease from ten years to five years; AND WHEREAS Elexco Ltd. assigned the said lease to Southwest Petroleum Explorations Inc., which assignment is registered in the Registry Office for the Registry Division of Essex as Instrument No. 1430689 registered July 9th, 1998. AND WHEREAS Southwest Petroleum Explorations Inc. is desirous of renewing a Petroleum and Natural Gas Lease and Grant agreement with the Corporation of the County of Essex for an additional five year term; AND WHEREAS the Corporation of the County of Essex deems it expedient to authorize the execution of a petroleum and natural gas lease on property in the geographic Township of Gosfield South, in the Town of Kingsville, in the County of Essex, those parts of Lot 12 and Lot 13, in the Second Concession, Eastern Division, more particularly described in Schedule "A" attached hereto. NOW THERFORE the Council of the Corporation of the County of Essex enacts as follows: 1. THAT the Warden and the Clerk be and they are hereby authorized to execute the Petroleum and Natural Gas Lease and Grant agreement between the Corporation of the County of Essex and Southwest Petroleum Explorations Inc., a copy of which is attach hereto, and affix the Corporate Seal thereto. > 2. This by-law shall corne into force and take effect on the 17th day of January, 200 1.