Circle Energy enters farmout and JV with Boa Vista for Andrews County, TX acreage

Circle Energy, Inc./NV

Entered Farmout Agreement and Joint Venture Agreement with Boa Vista, LLC effective May 16, 2025, replacing prior agreements transferred from Aspen Energy Partners.
Circle retains 75% working interest and 55.5% net revenue interest in 80-acre C.W. Logsdon Lease, Andrews County, Texas.
Consideration: $5,000 upfront plus $30,000 due upon spudding first well; must drill two wells within three years or rights revert.
JV covers ~880-acre area of mutual interest with same ownership split (75% Circle, 25% Boa Vista), using AAPL 610 operating agreement.
Liabilities are severed; each party responsible only for its own share of costs and liabilities.

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