DECEMBER STATE MINERAL BOARD AUCTION RESULTS

41748 CADDO 1, 36, 6 T16N, T17N R13W, R14W 18.890 NO BID.000
$0.00 $0.00 $0.00 0.0000000 0.0000000



41749 CADDO 32, 33, 4, 5, 6, 7, 8, 9 T15N, T16N R14W 29.530 NO BID.000
$0.00 $0.00 $0.00 0.0000000 0.0000000



41750 DE SOTO 25, 26 T13N R14W 160.000 NO BID.000
$0.00 $0.00 $0.00 0.0000000 0.0000000



41751 SABINE 14, 15 T09N R14W 10.000 EOG RESOURCES, INC.10.000
$60,000.00 $6,000.00 $30,000.00 0.2500000 0.2500000



 41752 SABINE 1 T08N R14W 2.000 COMSTOCK OIL AND GAS-LOUISIANA, LLC 2.000 $12,000.00 $6,000.00 $6,000.00 0.2500000 0.2500000



41752 SABINE 1 T08N R14W 2.000 PARAMOUNT ENERGY, INC.2.000
$5,166.00 $2,583.00 $2,583.00.2500000 0.2500000



41753 SABINE 34 T8N R13W 3.000 PARAMOUNT ENERGY, INC.3.000
$13,749.00 $4,583.00 $6,874.50 0.2500000 0.2500000



41754 SABINE 35 T8N R13W 2.000PARAMOUNT ENERGY, INC.2.000
$3,166.00 $1,583.00 $1,583.00 0.2500000 0.2500000



41755 SABINE 36 T8N R14W 5.960 COMSTOCK OIL AND GAS-LOUISIANA, LLC 5.960 $35,760.00 $6,000.00 $17,880.00 0.2500000 0.2500000



S41771 BIENVILLE 30 T16N R8W 40.000 QEP ENERGY COMPANY40.000
$320,000.00 $8,000.00 $160,000.00 0.2500000 0.2500000



41772 SABINE 25, 30 T9N R10W, R11W 50.000 AUDUBON OIL AND GAS CORPORATION 50.000 $175,000.00 $3,500.00 $87,500.00 0.2250000 0.2250000



41773 SABINE 28 T9N R11W 12.000 AUDUBON OIL AND GAS CORPORATION 12.000 $42,000.00 $3,500.00 $21,000.00 0.2250000 0.2250000



41774 SABINE 36 T8N R14W 22.000 COMSTOCK OIL AND GAS - LOUISIANA, LLC 22.00 $132,000.00  $6,000.00 $66,000.000 .25000000 .2500000

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Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on December 8, 2010 at 8:38
The two Audubon bids in Sabine Parish include the notation: Rejected Insuff. Consideration, meaning the bid did not meet the minimum requirements which in this case was a quarter royalty.
Permalink Reply by The_Baron on December 8, 2010 at 8:57
In other words, there is a landman @ Audubon getting chewed out for no reading the bid advirtisment.

Expensive and colossal was of time. Unless they were just trying to make a point.
Permalink Reply by Skip Peel - Mineral Consultant on December 8, 2010 at 9:00
Baron, I'd like to know which. Hasn't Audubon, along with Classic, been the third party bidders for Chesapeake on Haynesville tracts?
Permalink Reply by Spring Branch,mineral owner on December 8, 2010 at 9:42
What about Sections 25 and 26 of 13/14 that didn't get any bids. Something amiss there!
Permalink Reply by Skip Peel - Mineral Consultant on December 8, 2010 at 13:34
Those are two interesting sections considering these results. Check 'em out on SONRIS.
Permalink Reply by The_Baron on December 9, 2010 at 4:26
the HA well in 25 is garbage. Who would want to bey into that?
Permalink Reply by Skip Peel - Mineral Consultant on December 9, 2010 at 4:40
Which well are you referring to, Baron? The Petrohawk well producing from S36 or one of the CHK wells?
Permalink Reply by Two Dogs, Pirate on December 9, 2010 at 5:03
Audubon was working for Encana/SWEPI.
Permalink Reply by Skip Peel - Mineral Consultant on December 9, 2010 at 5:06
Thanks for the clarification, TDP. Any idea why they would be bidding on this state tract?
Permalink Reply by Two Dogs, Pirate on December 9, 2010 at 5:31
Skip Audubon first came into those areas T9N-R12W & T9N-R11W over 5 years ago. As of October of 2008 Encana/SWEPI had nearly all of 28-9N-11W leased up.
Permalink Reply by Skip Peel - Mineral Consultant on December 9, 2010 at 5:35
Okay, I understand. I'm just getting the two different parts of our discussion cross wired. It will be interesting to see if the same two tracts are in the next auction and Audubon gets it right next time. Or maybe someone will make a competitive bid now that they see this one. How about $3510 and a quarter? LOL!
Permalink Reply by The_Baron on December 8, 2010 at 9:42
I don't know if y'all noticed but they now post an audio file of the lease sale, you can get a feel for what its like to be there.

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