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EX-10 - EXHIBIT 10.1 - Xun Energy, Inc.exhibit10.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported):


January 20,  2012


XUN ENERGY, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

 Nevada

000-53466

26-1616719

 (State of incorporation)

 (Commission File Number)

 (IRS Employer Identification No.)

 

12518 NE Airport Way, Suite 148 No. 156 Portland Oregon 97230

(Address of principal executive offices)


775-200-0505

 (Registrant's telephone number, including area code)


___N/A___

(Former Name or former address if changed from last report.)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 



Forward Looking Statements


 

Certain statements included in this Form 8-k regarding Xun Energy, Inc. ( “Company”) that are not  historical  facts are  forward-looking statements,  including  the  information  provided  with  respect  to the future business  operations  and  anticipated  operations  of the Company. These forward-looking  statements are based on current expectations, estimates,  assumptions and beliefs of management,  and words such as "expects," "anticipates,"   "intends,"   "plans,"   "believes,"   "estimates"  and  similar expressions  are intended to identify  such  forward-looking  statements. These forward-looking  statements involve risks and uncertainties,  including, but not limited  to,  the  success  of our  current  or  proposed  business  activities. Accordingly, actual results may differ.


Section 1- Registrant’s Business and Operations


Item 1.01 Entry into a Material Definitive Agreement.  


On January 20, 2012, the Company assigned its Kentucky drilling permit for XUN002 on the forfeited Tillett Lease to Cook Oil Company, LLC. (COCL) in consideration of an override royalty of 2.5% of the value of all oil produced and removed under the permit and the net proceeds received by COCL from the sale of all gas and casing head gasoline produced and sold under the Permit. COCL is to commence operations on the permit before March 31, 2012.


For a more detailed description of the Permit Assignment entered into with Cook Oil Company, LLC  you should review the ASSIGNMENT OF OIL AND GAS PERMIT in its entirety which is attached hereto and marked Exhibit 10.1


Item 9.01 Financial Statements and Exhibits.


Exhibit

 10.1  

ASSIGNMENT OF OIL AND GAS PERMIT





SIGNATURES


     

 Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



 January 24, 2012

 

 

 

 

Xun Energy, Inc.



 BY: /S/ Jerry G. Mikolajczyk

 ——————————————

 Name: Jerry G. Mikolajczyk

 Title:   President/CEO