Notice of Division of Capital Assets Management oil and gas lease sale, 07/19/2014

              NOTICE OF DIVISION OF CAPITAL ASSETS MANAGEMENT
OIL AND GAS LEASE SALE
BY SEALED WRITTEN OR ONLINE BIDS TO BE OPENED AT 11:00 A.M.
SALE DATE: 7/9/2014
THE OFFICE OF MANAGEMENT AND ENTERPRISE SERVICES, DIVISION OF CAPITAL ASSETS MANAGEMENT (DCAM) INVITES BIDS for Oil and Gas Leases upon the following terms covering the tracts of land described in this Notice.
Bids may be made in writing or online by accessing www.clo.ok.gov.
Written Bids: Written bids must be submitted on bid forms provided by the Commissioners of the Land Office, managing agent for the Office of Management and Enterprise Services, Division of Capital Assets Management, and enclosed in a sealed envelope containing the following notation on the outside front face of the envelope "Bids for CLO Oil and Gas Lease Sale" and the date of the sale. Bids which are mailed must be enclosed in another envelope and addressed to the CLO at the address provided below.
Written bids must be mailed or hand-delivered on or before the time and date of the sale to:
The Commissioners of the Land Office
120 N Robinson Suite 1000W
Oklahoma City, Oklahoma 73102-7749
All written bids received prior to 11:00 A.M. on the date of sale will be publicly opened and announced. Late bids received after 11:00 A.M. on the date of sale will be rejected and not considered.
Electronic Bids: Alternatively, electronic online bids may be made in accordance with the requirements, terms, and conditions contained on the Online Bidding tab of the CLO website at www.clo.ok.gov. Bidders must be registered and approved by the CLO before they may place an online bid.
All online bids must be placed on or before 10:30 A.M. on the date of the sale. Any online bid received after 10:30 A.M. will be rejected and not considered.
ALL BIDS WILL BE OPENED AT 11:00 A.M. ON THE DATE OF THE SALE. Leases will be awarded to the bidder of the highest cash bonus, if accepted.
TERMS AND CONDITIONS OF SALE: The Lease will be on a form prescribed by the CLO for a term of three years, and as may be extended, and will provide for 3/16ths royalty, and an annual delay rental of $1.00 per net acre to be paid in full before lease is issued, in addition to lease bonus. Bids shall be for a cash bonus for each tract, 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. Earnest money remittances made by unsuccessful bidders will be returned to them. The successful bidder shall be liable for the full amount of the bid, all delay rentals and cost of advertising. Full payment is due 30 days from the date of acceptance of the bid.
Failure to comply with any of the terms and conditions of sale will be grounds for the cancellation of the award and the retention of the deposit of earnest money as liquidated damages at the election of the Secretary.
The Office of Management and Enterprise Services, Division of Capital Assets Management, the Commissioners of the Land Office and the State of Oklahoma make no warranty of title and reserve the right to reject any and all bids.
IMPORTANT: Separate bids and earnest money deposits are required on each tract if you are bidding on more than one tract.
PLEASE ENCLOSE ALL WRITTEN BIDS IN ONE "9 x 12" ENVELOPE. PLEASE DO NOT FOLD BIDS OR USE STAPLES.
Bid Forms are available at www.clo.ok.gov
Note: The M.R. % column refers to percentage of the mineral interest offered for each tract.
CURRENT RULES PROVIDE THAT ALL OIL AND GAS BIDS BECOME FINAL AT DATE AND TIME OF BID OPENING
TRACT COUNTY LEGAL DESCRIPTION SEC TWP RGE M. R. % GROSS ACS NET ACS
CANADIAN A part of Lot 2 described as follows: Beginning at a point whence the NE corner of said Section 25, bears North 64 degrees 44' 23" East a distance of 5,635.49 feet, and whence the North Quarter corner of said Section 25 bears North 45 degrees 30' 19" East, a distance of 3,431.34 feet; thence, South 66 degrees 23' 43" East a distance of
468.43 feet; thence, South 74 degrees 49' 33" East, a distance of
391.69 feet; thence, South 77 degrees 30' 00" East, a distance of
280.00 feet to an existing fenceline; thence, along said existing
25-13N-08WIM 100.00 % 9.93 9.93
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