Newspaper article THE JOURNAL RECORD

Miscellaneous

Newspaper article THE JOURNAL RECORD

Miscellaneous

Article excerpt

(91443)

NOTICE OF OIL AND GAS LEASE SALE

BY SEALED BIDS TO BE OPENED AT 11:00 A.M.

WEDNESDAY, FEBRUARY 11, 1987

THE COMMISSIONERS OF THE LAND OFFICE OF THE STATE OF OKLAHOMA INVITE BIDS for Oil and Gas Leases upon the following terms covering the tracts of land hereinafter described.

Bids must be written and enclosed in a sealed envelope, bearing the notation on the outside front face of the envelope ``Bids for Oil & Gas Lease Sale'' and the date of the sale. Bids which are mailed must be enclosed in another envelope and addressed as set out below.

Bids must be delivered or mailed to the office of the Secretary to the Commissioners of the Land Office, 5801 North Broadway, Suite 200 Paragon Building, Oklahoma City, Oklahoma 73118 or delivered to Suite 200 Paragon Building, 5801 North Broadway, Oklahoma City, Oklahoma 73118 on date of sale. All bids received prior to 11:00 A.M. on date of sale will be publicly opened at that time and leases will thereafter be awarded to the bidder of the highest cash bonus, if acceptable. No bid will be considered that is not delivered by 11:00 A.M. on date of sale.

TERMS OF SALE: Leases will be on form prescribed by the Commissioners, and will be for a term of three years as extended and will provide for 3/16ths royalty, and an annual delay rental of $1.00 per acre. Bids shall be for a cash bonus for each lease, but no bid of less than $5.00 per acre will be considered. Each bid must be accompanied by a remittance in the amount of 25% of bid as earnest money, checks will be promptly returned to unsuccessful bidders. Successful bidder will be allowed 30 days from date of acceptance of bid to pay balance of bonus, unless an extension of time be granted, and shall be liable for the full amount of bid, provided that failure to comply with any of the terms hereof will be grounds for the cancellation of the award and retention of the deposit of earnest money as liquidated damages for such breach at the election of the Commissioners. The State makes no warranty of title and reserves the right to reject any and all bids. Successful bidder must pay cost of advertising. The successful bidder shall furnish surety performance bond in accordance with schedule established by the Commissioners. IMPORTANT: Separate bid and check must be made on each tract. ENCLOSE ALL BIDS IN ONE ENVELOPE.

(The (M.R.) following the Governmental Subdivision of each Tract refers to the mineral interest offered for lease.)

CURRENT RULES PROVIDE THAT ALL OIL & GAS BIDS BECOME FINAL AT DATE AND TIME OF BID OPENING.

Tract

#

Description

Sec.

Twp.

Rge.

Acres

BECKHAM COUNTY

1.

SE/4 SW/4 (All M.R.)

32

10N

25W

40.00

CIMARRON COUNTY

2.

Lot 2; SW/4 NE/4 (All M.R.)

3

4N

2ECM

76.12

3.

Lots 3 & 4; S/2 NW/4 (All M.R.)

3

4N

2ECM

151.37

4.

SE/4 (All M.R.)

3

4N

2ECM

160.00

5.

SW/4 (All M.R.)

3

4N

2ECM

160.00

6.

Lots 3 & 4; S/2 NW/4 (All M.R.)

4

4N

2ECM

151.45

7.

SE/4 (All M.R.)

4

4N

2ECM

160.00

8.

E/2 SW/4; SW/4 SW/4 (All M.R.)

4

4N

2ECM

120.00

9.

Lots 2; SE/4 NE/4 (All M.R.)

6

4N

2ECM

77.37

10.

Lots 3, 4 & 5; SE/4 NW/4 (All M.R.)

6

4N

2ECM

131.99

11.

Lots 6 & 7; E/2 SW/4 (All M.R.)

6

4N

2ECM

135.76

12.

Lot 1 (All M.R.)

7

4N

2ECM

28.18

13.

SW/4 SE/4 (All M. …

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