As Of               Filer                 Filing     As/For/On Docs:Pgs              Issuer               Agent

 6/16/06  Storm Cat Energy CORP             20-F       12/31/05   15:463                                    Merrill Corp-MD/FA

Document/Exhibit                   Description                      Pages   Size 

 1: 20-F        Annual and Transition Report of Foreign Private     HTML  1,246K 
                          Issuers                                                
 2: EX-2.2      Plan of Acquisition, Reorganization, Arrangement,   HTML     55K 
                          Liquidation or Succession                              
 3: EX-4.5      Instrument Defining the Rights of Security Holders  HTML     43K 
 4: EX-4.6      Instrument Defining the Rights of Security Holders  HTML    565K 
 5: EX-4.7      Instrument Defining the Rights of Security Holders  HTML     84K 
 6: EX-4.8      Instrument Defining the Rights of Security Holders  HTML    205K 
 7: EX-8        Opinion re: Tax Matters                             HTML     13K 
 8: EX-11       Statement re: Computation of Earnings Per Share     HTML     41K 
 9: EX-12.1     Statement re: Computation of Ratios                 HTML     13K 
10: EX-12.2     Statement re: Computation of Ratios                 HTML     12K 
11: EX-13       Annual or Quarterly Report to Security Holders      HTML     11K 
12: EX-15.1     Letter re: Unaudited Interim Financial Information  HTML      7K 
13: EX-15.2     Letter re: Unaudited Interim Financial Information  HTML     12K 
14: EX-15.3     Letter re: Unaudited Interim Financial Information  HTML     10K 
15: EX-15.4     Letter re: Unaudited Interim Financial Information  HTML      9K 

Exhibit 4.7

 

[Portions of this Exhibit have been omitted pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Such omitted portions are indicated by the characters “[***]”.]

 

[Storm Cat Letterhead]

 

February 15 2005

email: ron@stormcatenergy.com

 

Golden Eagle Energy Ltd.

700 – 736 – 6^th Ave S.W.

Calgary, Alberta T2P 3T7

Fax #: 296-0798

 

Attention: Mr. Mike O’Byrne

Vice President, Land

 

Dear Sir,

 

Re:          Farmin and Assignment Agreement
[***]
Moose Mountain, Saskatchewan

 

Further to our telephone conversation, please accept this Agreement as describing the earning terms and conditions as between Golden Eagle Energy Ltd. (“Golden Eagle”) and Storm Cat Energy Corporation (“Storm Cat”) with respect to Storm Cat’s right to earn and being assigned an interest in the Farmout Lands as follows:

 

1.     Parties

 

Farmor:           Golden Eagle Energy Ltd.
Farmee:          Storm Cat Energy Corporation

 

2.     Farmout Lands

 

Saskatchewan Petroleum and Natural Gas Special Exploratory Permit [***]
Permit Dated:                [***]
Lands:            [***]
Rights:           [***]
Presently Held:             [***]*
Encumbrances:             Crown Royalty and [***] % GORR payable to [***]

 

*Note: Golden Eagle’s working interest in the Farmout Lands is subject to that further obligation of Golden Eagle to perform such obligations as provided for in that Property Swap and JO A Agreement, attached hereto as Schedule “A “, between Scott Oil & Gas Ltd. and Golden Eagle dated February 11, 2005 (the “Acquisition Agreement”) wherein Golden Eagle shall pay [***]  of the relevant [***] “Work Commitment” as defined in the Acquisition Agreement.

 

3.     Title

 

Farmor does not warrant title to the Farmout Lands, but covenants that to the best of its knowledge there are no adverse claims against the Farmout Lands and that it has not disposed of

 

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or otherwise encumbered its right in and to the Farmout Lands other than as provided for in the Acquisition Agreement and the Joint Operating Agreement dated February 10, 2005 attached hereto as Schedule “B” (the “JOA”). The Farmor does however warrant that it has the full right as provided for in the Acquisition Agreement as to a [***] working interest in and to the Farmout Lands and the right to make the disposition as herein provided.

 

4.     Technical Data

 

Farmor agrees to provide Farmee with access to and, where applicable, copies of all of relevant technical data in its possession relating to the Farmout Lands including any seismic, well logs, and/or other information available to the Farmor.

 

5.     Cash Payment and Assignment of Interest and Operatorship

 

(a)   Farmee agrees subject to paragraph 5(b) hereof to pay Farmor $750,000 within [***] of Farmor’s execution and delivery of this Agreement to Farmee.

 

(b)   Upon execution of this Agreement Farmor agrees to:

 

(i)            assign to Farmee a 30% working interest (the “Assigned Interest”) in and to the Farmout Lands; and

 

(ii)           endeavour to have Farmee recognized under the title documents and JOA as to such Assigned Interest within [***] days of the Effective Date; and

 

(iii)          have Farmee appointed as Operator under the JOA within [***] days of the Effective Date.

 

Such rights and interests shall be assigned to Farmee as soon as reasonably practical, and Farmor shall do all things reasonable to effect same within those periods as described above.

 

6.     Fulfillment of Permit Work Commitments

 

Golden Eagle and Storm Cat agree to share the work commitment expenditures and obligations under the terms of the Petroleum and Natural Gas Special Exploratory Permit [***] as follows until Payout (as defined in paragraph 9 herein):

 

(a)   with respect to the first 2 years work commitments (being $500,000) plus those expenditures as provided under paragraph 7 hereof, if applicable, such expenditures shall be shared:

 

Golden Eagle 5% Storm
Cat 95%

 

(b)   subsequent to the period as provided for in paragraph 6(a) herein and before Payout as provided for in paragraph 9 hereof, such work commitment expenditures shall be shared:

 

[***]

 

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Such expenditures shall as between Golden Eagle and Storm Cat be shared according to the provisions of the JOA, subject to the above working interest shares and provisions. [***] shall design, propose and carry out for the joint account, the work programs referred to above.

 

7.    Technical and Geological Expenses

 

Golden Eagle and Storm Cat agree to share those “technical and geological expenses” in the order of $100,000 as provided for in paragraph 6 of the Acquisition Agreement applicable to the Farmout Lands in the following interests:

 

Golden Eagle		5	%
Storm Cat		95	%

 

The parties hereto shall endeavor to have the expenses referred to in this paragraph 7 included into the work commitment expenditures under the provisions of the Petroleum and Natural Gas Special Exploratory Permit [***] as provided for in paragraph 6(a) hereof.

 

8.    Other Expenditures

 

Any expenditures made for the joint account pursuant to the JOA relevant to the Farmout Lands, other than as provided in paragraphs 6 and 7 hereof (including annual rentals) shall be shared:

 

[***]

 

Such expenditures shall be proposed and made pursuant to the provisions of the JOA.

 

9.     Additional Interest Earned and Conversion

 

In additional to the 30% working interest assigned to Farmee by Golden Eagle pursuant to paragraph 5(b)(i) hereof, Golden Eagle shall assign an additional 15% working interest share (total working interest to Farmee for this period being 45%) from the Farmout Lands until Farmee has received produced petroleum substances in the amount of 2.5Bcf (or such equivalent) attributed to such 45% working interest share of petroleum substances produced from Farmout Lands (herein referred to as “Payout”).

 

Upon reaching Payout Farmee shall re-assign to [***] such [***] share resulting in the working interest in the Farmout Lands then being as follows:

 

[***]

 

Upon Payout being reached the JOA shall apply and supercede this Agreement as and between the parties.

 

10.  Effective Date

 

The Effective Date of this Agreement shall be February 15, 2005.

 

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11.  Force Majeure

 

All dates, excluding the Effective Date, are subject to force majeure and other special considerations, including but not limited to regulatory and environmental considerations.

 

The Parties hereto shall make all reasonable effort to remain within the time frames set forth herein.

 

If the foregoing terms meet with your approval, kindly indicate your concurrence by dating, signing and returning the duplicate copy of this Agreement to the undersigned on or before the close of business on February 17, 2005. Notwithstanding that the parties hereto may pursue more formal documentation relative to, among other things, the transfer of interests in the Farmout Lands, until such documentation is complete, this Agreement shall be binding on StormCat and Golden Eagle, their respective successors and assigns

 

Yours truly,

 

Storm Cat Energy Corporation

 

“Scott Zimmerman “ Scott Zimmerman President

 

cc: R. Sutsch

 

Foregoing Terms Agreed to and Accepted this 17 day of February, 2005.

 

Golden Eagle Energy Ltd.

 

Per:	/s/ Ronald B. Kinniburgh
	Ronald B. Kinniburgh
	VP Eng. and COO

 

 

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SCHEDULE”A”

 

Attached to and forming part of a Farmin and Assignment Dated February 15, 2005 from Storm Cat Energy Corporation to Golden Eagle Energy Ltd.

 

****** SIGNED COPY TO BE ATTACHED ******

 

February 11,2005

 

Re:		Property Swap and JOA Agreement
		Rocanville Area, Saskatchewan and
		Moose Mountain Area, Saskatchewan
		Our file; 3-001 (a)

 

Dear Mr. Rogers:

 

Further to our recent discussions, Golden Eagle Energy Ltd. (“Golden Eagle”) herewith records the agreement reached between Scott Oil and Gas Ltd. (“Scott Oil”) and Golden Eagle relative to the subject.

 

Scott Oil and Golden Eagle agree as follows:

 

1.            Block “A” Lands:

 

Special Exploratory Permit, Block [***]:

 

[***]

 

Scott Oil - 100% Working Interest (236,160 acres, more or less, hereinafter referred to as the “Block “A” Lands”)

 

The Block “A” Lands are encumbered by the Crown Lessor Royalty and a [***].

 

2.             Block “B” Lands:

 

[***]

 

Golden Eagle - 100% Working Interest (hereinafter referred to as the “Block “B” Lands”)

 

The Block “B” Lands are encumbered by the Lessor’s Royalty only.

 

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3.             Asset Exchange:

 

Golden Eagle shall assign to Scott Oil its entire interest in the Block “B” Lands in exchange for Scott Oil assigning to Golden Eagle [***] of its interest in the Block “A” Lands. The value of the assigned interest in both Block “A” Lands and Block “B” Lands shall be [***].

 

4.             Work Commitment:

 

Means, the [***] work commitment for the [***] ([***] per year) of the [***] term of Special Exploratory Permit, Block [***] (the “Work Commitment”).

 

5.             Fulfilling the Work Commitment:

 

Golden Eagle shall at its sole cost and expense fulfill the said [***] Work Commitment.

 

6.             Technical and Geological Expenses:

 

Golden Eagle acknowledges that Scott Oil has incurred certain expenses, in developing the Moose Mountain prospect, such expenses are deemed to be [***]. Golden Eagle shall reimburse Scott Oil for its technical, interpretive, geophysical and geological assistance during the [***] of the Special Exploratory Permit. (i.e. regardless of expenditures said reimbursement amount shall be [***]).

 

Payments for the said technical and geological assistance shall be made in five equal payments as Golden Eagle fulfills the Work Commitment and where possible and acceptable such payments shall be included as part of the said Work Commitment.

 

7.             Effective Date:

 

The Effective Date of this Agreement shall be February 2, 2005.

 

8.             Assignment of Interest and Joint Operating Agreement:

 

All operations carried out on the Block “A” Lands, subsequent to Golden Eagle having fulfilled its obligations set forth in paragraphs 5 and 6 above shall be subject to the Joint Operating Agreement dated February 10, 2005 between Golden Eagle and Scott Oil.

 

9.             Force Majeure:

 

All dates, excluding the Effective Date, are subject to force majeure and other special considerations, including but not limited to regulatory and environmental considerations.

 

The Parties hereto shall make all reasonable effort to remain within the time frames set forth herein.

 

6

 

SCHEDULE “B”

 

Attached to and forming part of a Farmin and Assignment Dated February 15, 2005 from Storm Cat Energy Corporation to Golden Eagle Energy Ltd.

 

 

****** SIGNED COPY TO BE ATTACHED ******

 

JOINT OPERATING AGREEMENT

 

MOOSE MOUNTAIN AREA, SASKATCHEWAN

 

THIS AGREEMENT made as of the 10^th day of February, A.D. 2005,

 

BETWEEN:

 

GOLDEN EAGLE ENERGY LTD., a body corporate, having an office at the City of Calgary in the Province of Alberta (herein called “Golden Eagle”)

 

-and-

 

 

SCOTT OIL AND GAS LTD., a body corporate, having an office at the City of Calgary in the Province of Alberta (herein called “Scott Oil”)

 

 

WHEREAS the Parties hereto hold the joint lands and the title documents in the respective undivided working interests set forth herein; and

 

WHEREAS the Parties hereto desire to provide for the maintenance of the title documents and for the conduct of operations on the joint lands.

 

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises, mutual covenants and agreements herein set forth and contained, the Parties hereto do hereby covenant and agree as follows:

 

1.             INTERPRETATION:

 

(a) Definitions:

 

In this Agreement, including the recitals and the Schedules, unless the context otherwise requires or unless otherwise specifically stated herein, the definitions contained in Clause 101 of the Operating Procedure shall apply and in addition the following terms and phrases shall have the following meanings, namely;

 

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(i)            “Effective Date” means the 10^th day of February A.D., 2005; and

 

(ii)           “Encumbrances” means those royalties, overriding royalties, production payments, net profits interests or other charges of a similar nature (other than the lessor royalty under the title documents), if any, applying against the joint lands or the production or proceeds of production of petroleum substances therefrom that are described as “Encumbrances” in Schedule “A” of this Agreement; and

 

(iii)          “joint lands” means the lands set forth and described under the heading “joint lands” in Schedule “A” hereto and so much thereof and rights thereto and interests therein as are granted by the title documents and as shall remain subject to this Agreement from time to time; and

 

(iv)          “Operating Procedure” means the documents comprising Schedule “B” hereto, including the Accounting Procedure and all other exhibits and schedules, if any, attached thereto and made a part thereof; and

 

(v)           “Party” means a person, corporation, partnership or body politic bound by this Agreement and, unless otherwise specifically stated in this Agreement, includes a “party” as defined in and bound by the Operating Procedure; and

 

(vi)          “title documents” means the documents of title set forth and described under the heading “title documents” in Schedule “A” hereto by virtue of which the Parties are entitled to drill for, win, take or remove petroleum substances underlying the joint lands, and all renewals, extensions or continuations thereof or further documents of title issued pursuant thereto.

 

b.     Headings:

 

The headings of the Clauses of this Agreement and the Schedules attached hereto are inserted for convenience of reference only and shall not affect the meaning, interpretation or construction thereof.

 

c.     References:

 

Whenever the singular or masculine or neuter is used in this Agreement or the Schedules, the same shall be construed as meaning plural or feminine or body politic or corporate and vice versa, as the context so requires.

 

d.     Conflicts with Title Documents:

 

If any term or condition of this Agreement or the Schedules attached hereto conflicts with any term or condition in the title documents or any Regulation applicable thereto, then Clause 107 of the Operating Procedure shall apply to any such conflict.

 

(e)   Conflicts with Schedules:

 

If any term or condition of this Agreement conflicts with any term or condition of any Schedule hereto, the provisions of this Agreement shall prevail.

 

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2.             SCHEDULES:

 

The following Schedules are attached to and made part of this Agreement:

 

(a)   Schedule “A” which sets forth and describes the title documents, the joint lands and the
Encumbrances, if any; and

 

(b)   Schedule “B” which is the Operating Procedure.

 

3.             WARRANTY OF TITLE:

 

The Parties to this Agreement do not warrant title to the title documents or to the rights purportedly granted by the title documents in and to the joint lands but each Party covenants that it is duly qualified pursuant to the Regulations to hold the working interests herein ascribed to it in the title documents and the rights granted thereby in and to the joint lands.

 

No Party shall do or cause to be done any act, nor make or cause to be made any omission, whereby the title documents, or the rights granted thereby in and to the joint lands, become subject to termination or become encumbered in any such way so as to adversely affect the interests of any other Party to this Agreement.

 

4.             EFFECTIVE DATE:

 

Notwithstanding the actual date of execution by a Party, upon execution by all Parties hereto this Agreement shall be effective as of the Effective Date.

 

5.             WORKING INTERESTS:

 

The working interests of the Parties in the title documents and the joint lands are as follows:

 

Golden Eagle         – [***]
Scott Oil                 – [***]

 

6.             APPLICATION OF OPERATING PROCEDURE:

 

The Parties hereto agree that from and after the Effective Date and subject to Clause l(e) hereof, the Operating Procedure shall apply in respect to all matters relating to the exploration, development, and operation of the joint lands and the maintenance of the title documents.

 

7.             OPERATOR:

 

The Parties hereby appoint Golden Eagle as Operator and Golden Eagle accepts such appointment and agrees to act in such capacity in accordance with the provisions of this Agreement and the Operating Procedure.

 

8.             INCORPORATION OF CAPL ASSIGNMENT PROCEDURE

 

The 1993 CAPL Assignment Procedure (or the most current replacement therefor that has been endorsed by the Canadian Association of Petroleum Landman for use at the relevant time) is incorporated by reference into this Agreement and will be deemed to

 

10

 

apply as if it had been included as a Schedule. Clause 2404 of the Operating Procedure is superseded by the said Assignment Procedure which will apply to the recognition process with respect to all dispositions made under Article XXTV of the Operating Procedure but will not apply (and is not required) for other assignments made between the Parties by operation of any other provision of this Agreement or the Operating Procedure.

 

9.             EXTENSION UNDER ALBERTA LIMITATIONS ACT:

 

The Parties agree that the two (2) year period for seeking a remedial order under section 3(l)(a) of the Limitations Act (Alberta), as amended, for any claim (as defined in that Act) arising in connection with this Agreement is extended to:

 

(a) for claims disclosed by an audit, two (2) years after the expiry of the time this Agreement permitted that audit to be performed; and

 

(b) for all other claims, four (4) years.

 

10.           LAWS AND COURTS:

 

This Agreement shall be construed in accordance with the laws of the Province of Alberta and the courts having exclusive original jurisdiction with respect to any matter or thing arising directly or indirectly relating to this Agreement shall be the Courts of the Province of Alberta and each of the Parties hereto hereby irrevocably attorns to the jurisdiction of the Courts of Alberta.

 

11.           MISCELLANEOUS:

 

(a)   This Agreement supersedes and replaces all previous agreements, whether written or oral, and all memoranda and correspondence among the Parties with respect to the subject matter of this Agreement.

 

(b)   Subject to the terms contained herein, this Agreement shall continue for the life of the title documents and until all wells on the joint lands have been plugged and abandoned, all equipment thereon salvaged, and final settlement of accounts has been made among the Parties.

 

(c)   If any clause, provision or condition of this Agreement becomes illegal or unenforceable, it shall be considered separate and severable from this Agreement and the remaining provisions and conditions shall continue in full force and be binding upon the Parties hereto as though the said clause, provision or condition was no longer included.

 

(d)   The Parties hereto hereby covenant so long as this Agreement is in force and effect, to comply with all Regulations with respect to anything done, or purported to be done, pursuant to this Agreement and with respect to the operations carried out hereunder.

 

(e)   No waiver by any Party of any term of this Agreement shall take effect or be binding upon that Party unless the same be expressed in writing and any waiver so given shall extend only to the particular breach so waived and shall not limit or affect any rights with respect to any other or future breach.

 

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(f)    The terms, covenants and conditions of this Agreement shall extend and enure to the benefit of and be binding upon the Parties hereto and their respective heirs, executors, administrators, legal representatives, successors and assigns, as the case may be.

 

(g)   Time is of the essence of this Agreement.

 

12.           ADDRESSES OF THE PARTIES:

 

The address for service of notices under this Agreement and Article XXII of the Operating Procedure for each of the Parties hereto is as follows:

 

Scott Oil and Gas Ltd.		Golden Eagle Energy Ltd.
38, Citadel Peak Mews NW		Suite 700, 736 - 6th Avenue, SW
Calgary, Alberta T3G4H6		Calgary, AB T2P3T7

 

13.           FURTHER ASSURANCES:

 

The Parties hereto shall from time to time and at all times do such further acts and execute and deliver all such further deeds and documents as shall be reasonably required in order to fully perform and carry out the terms of this Agreement.

 

14.           EXECUTION IN COUNTERPART:

 

This Agreement may be executed by the Parties in as many counterparts as are required and when each party has executed a counterpart, all counterparts together shall constitute one agreement.

 

IN WITNESS WHEREOF THE PARTIES hereto have duly executed this Agreement as of the Effective Date.

 

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