4.015 Protective Lease on Unleased Tract
|Top Previous Next|
Protective Lease on Unleased Tract
Protective Lease on Unleased Tract. The abstract reveals that Isaac Millsaps has not leased his one percent mineral interest in Tract 1.
Requirement: Obtain a protective oil, gas, and mineral lease from Isaac Millsaps covering Tract 1. Alternatively: (i) accept the one-half open interest of Isaac Millsaps in Tract 1, and (ii) qualify your affidavit of ownership and control on Form OGB-2 that you submit to the Alabama Oil and Gas Board pursuant to Rule 400-1-2-.01(2)(c) as part of your application for a drilling permit to show the potential open interest of Isaac Millsaps.
Copyright 2011 by Edward G, Hawkins. All rights reserved.