4.015 Protective Lease on Unleased Tract

Top  Previous  Next

Requirement 4.015

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.