PURCHASE AND SALE CONTRACT
This Purchase and Sale Contract is made and entered into this 14 th day of September, 2007 by and between PETROL
OIL AND GAS, INC. a corporation incorporated under the laws of the State of Nevada (“ Seller ”) and ENERJEX RESOURCES,
INC., a corporation incorporated under the laws of the State of Nevada (“ Buyer ”).
A. Seller owns certain oil leases and wells in Franklin, Miami, and Johnson Counties Kansas.
B. Buyer desires to purchase and assume the leases, wells and all existing equipment on the leases.
C. The parties mutually desire to enter into this Purchase and Sale Contract for the expressed purpose of the
1 . Consideration : Buyer shall pay Seller the sum of $800,000 cash, due in certified funds or wire transfer at
closing (the “ Purchase Price ”). Closing shall occur at the law offices of Caldwell & Moll, L.C., 11903 W. 119 th Street, Overland
Park, Kansas at 4:00 p.m. Kansas time on September 14, 2007, or such other time or date as may be agreed upon in writing by the
parties (the “ Closing Date ” or “ Closing ”) The effective date of the transfer of the Assets (as defined below) shall also be the
2 Assets . Subject to the terms and conditions of this Purchase and Sale Contract, Seller agrees to sell and convey to
Buyer and Buyer agrees to purchase, accept and pay for the Assets (as defined below). As used herein, the term "Assets"
means the following:
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(a) All of Seller's right, title and interest in and to (i) the estates and mineral rights created by the oil and gas
leases and mineral estates (the " Leases "), described in Exhibit A , attached hereto and incorporated herein by this
reference, and (ii) all oil, gas, water disposal and other wells located on the Leases or on lands pooled therewith (the "
Wells "), together with all of Seller's interest in the rights and appurtenances incident thereto, but excluding any
orphaned and aband