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Permalink Reply by Skip Peel - Mineral Consultant on December 21, 2011 at 11:13

The July 2008 State Mineral auction included 7 tracts in S. Caddo Parish that received winning bids of $30,212.00 per acre bonus and a royalty of 30%.  Theophilus Oil, Land & Gas was the successful bidder on behalf of Chesapeake Energy. 

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Permalink Reply by Two Dogs, Pirate on December 21, 2011 at 14:04

Skip I am kind of fuzzy on what I remember but wasn't this a rental lease that the second year rental would have to be 1/2 the bonus?

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Permalink Reply by Skip Peel - Mineral Consultant on December 21, 2011 at 14:34

Yep.  A lot of money for a one year lease term.  Tract 39963 was the largest at 178.17 acres and the lease bonus was $5,382,872.04 and the rental $2,691,436.02.

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Permalink Reply by Two Dogs, Pirate on December 21, 2011 at 15:08

If I rember correctly the second year rental was not paid?

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Permalink Reply by Skip Peel - Mineral Consultant on December 21, 2011 at 15:12

It's CHK's core.  It got drilled.

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