Auction Detail

MULTI COUNTY MINERAL AUCTION

3600+ ACRES NET MINERAL ACRES

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Brief Description

POSTPONED TILL LATER DATE
MULTI COUNTY MINERAL AUCTION
3800+ ACRES NET MINERAL ACRES
CUSTER- DEWEY- GARFIELD - GRANT - MAJOR - NOBLE - ROGER MILLS - WASHITA OKLAHOMA
MONTGOMERY - HARPER KANSAS
SELLER: WESLEY KROEKER REVOCABLE TRUST

Auction Schedule

Live Off-site Auction with Online bidding

Began: Monday, September 23, 2013 at 10:00 AM CDT

Location: 111 W PURDUE, CHISHOLM TRAIL EXPO, United States, Enid, OK 73701

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Details

      Net Min Lease Lease Exp Non Producing Lease Details and    Production
LOT Counties Legal Acres Date Date Producing Operator/Well Info Ref# 2012 $
1 Custer, Ok 17-12N-20W 2.5     Apache Corp, Kepart 1-17, Libby Hoover 1-17, Sanders 1-17,2-17   $290
1a Custer, Ok 17-12N-20W 2.5     Apache Corp, Kepart 1-17, Libby Hoover 1-17, Sanders 1-17,2-17   $290
2 Custer, Ok 8-12N-20W 2.5     Apache Corp, Wells 1-8, 2-8, 3-8   $3,208
2a Custer, Ok 08-12N-20W 2.5     Apache Corp, Wells 1-8, 2-8, 3-8   $3,208
3 Custer, Ok 6-12N-20W 5     Chesapeake Operating, Unruh 1-6   $257
3a Custer, Ok 06-12N-20W 5     Chesapeake Operating, Unruh 1-6   $257
4 Custer, Ok 4-12N-20W 2.5     Mustang Fuel, Oaks 1-4,4-2,4-3,4-4, Massey 4-5   $323
            Chesapeake Operating, Oaks 4-2,4-3,4-4, Massey 4-5    
            Sonat Exp Co, Massey 4-5    
4a Custer, Ok SE 4-12N-20W 2.5     Chesapeake Operating, Inc. Oaks No. 4-2; Oaks No. 4-3; Mustang Fuel Corporation   323
5 Custer, Ok 3-12N-20W 5     Champlin Exploration, KC Cattle UT No 1-3   $51
5a Custer, Ok NW/4, SW/4 5     Champlin Exploration, KC Cattle UT No. 1-3   $51
                 
6 Dewey County, OK 11-18N-16W 40 03/21/2011 03/21/2014 3/16 Chesapeake    
7 Dewey County, OK 12-18N-16W 40 Open        
                 
8 Garfield, OK 3-23N-8W 80 01/26/2011 01/25/2014 3/16 Sandridge lease $300/A w 2 yr option at $300/A    
9 Garfield, OK 6-23N7W 40 05/12/2011 05/12/2014 3/16 Sandridge, 3 yr lease @$500/A    
10 Garfield, OK 2/9-23N-8W 21.06 Leased   Reverts to WK 12/21/2032    
11 Garfield, OK 10-23N-8W 49.5 08/25/2011 08/25/2014 3/16 Sandridge, 3/16, $500/A, w 2 yr option at $500    
12 Garfield, OK 20-22N-4W 80 09/28/2011 09/27/2014 3/16 Blackridge paid $400 w 2 yr option at $400    
13 Garfield, OK 27-20N-8W 80 Open        
  Garfield, OK 27-20N-8W 80     Reversionary Interest comes back 5/19/2020 if no prod    
15 Garfield, OK 28-20N-8W 80 10/04/2011 10/04/2014 3/16 Sandridge w 2 yr option at $200    
  Garfield, OK 28-20-8 80     Reversionary Interest comes back 5/19/2020 if no prod    
17 Garfield, OK 15-23-8 2.066116 12/02/2010 12/02/2013 3/16 Sandridge, 2yr option @?    
18 Garfield, OK 22-23N-7W, Tr1 80.813774 Until Prod stops. Gilliland Oil & Gas, Inc,  Bolenbaugh #1,2,3 All $11,700
    22-23N-7W, Tr2 22.216742     Gilliland Oil & Gas, Inc,  Bolenbaugh #1,2,3 Above  
    22-23N-7W, Tr3 78.975     Gilliland Oil & Gas, Inc,  Bolenbaugh #1,2,3 Above  
    22-23N-7W, Tr4 120     Gilliland Oil & Gas, Inc,  Bolenbaugh #1,2,3 Above  
19 Garfield, OK 23-23N-7W, Tr1 20.01     Henry Gungoll Operating, Kroeker 1-23 All $5,961
    23-23N-7W, Tr2 80.67     Henry Gungoll Operating, Kroeker 1-23 Above  
    23-23N-7W, Tr3 10     Henry Gungoll Operating, Kroeker 1-23 Above  
20 Garfield, OK 36-22N-8W 80     TBK Energy, Hodgden 1-36   $3,779
21 Garfield, OK 9-23N-6W Tr1 64.8     Jhatco, Inc.,  Welch 1-9 All $713
    9-23N-6W Tr2 19.983995     Jhatco, Inc.,  Welch 1-9 Above  
    9-23N-6W Tr3 2.5     Jhatco, Inc.,  Welch 1-9 Above  
22 Garfield, OK 16-23N-6W 39.25     Anadarko Minerals, Bertha Wright #1,2   $3,247
23 Garfield, OK 10-23N-7W 145     Continental Resources, Messman #1 All CR  
            Continental Resources, Leatherman No. 1-10   $6,269
            Continental Resources, Groendyke No. 1-10 Above  
            Urban Oil & Gas Group, Keith #1   $1,700
24 Garfield, OK 27-23N-7W 12.497934     Fuksa Investments Teft #1, 2   $173
25 Garfield, OK SE 4-21N-4W 40     Heritage Petroleum, Bryan"4"#1,Gardner "4", until prod ends   $476
                 
26 Grant, Ok 27-28N-8W 120 03/23/2011 03/23/2014 3/16th, Sandridge    
                 
27 Major, Ok 22-22N-12W 176.24     Latigo Oil & Gas, Dirks #2    
28 Major, Ok 16-22N-12W 547.94     Combined Resources, Ratzlaff #1, 2, 3, 4   $7,122
29 Major, Ok 15-22N-12W, Tract 1 67.1     Samson Resources, Hodgden 1-15   $10,270
30 Major, Ok 15-22N-12W, Tract 2 163.77     Samson Resources, Hodgden 1-15   $3,039
31 Major, Ok 15-22N-12W       Linn Energy, Ratzlaff 2-15, Evans 1-21   $341
                 
32 Noble Ok 15-22N-2W 160 06/05/2012 06/05/2015 3/16th, Veritas Energy, LLC, 2 yr option to extend    
                 
33 Roger Mills, Ok 12-12N-21W 2.5 Open        
33a Roger Mills, Ok 12-12N-21W 2.5 Open        
                 
34 Washita, Ok 8-9N-20W 52.5 Open        
35 Washita, Ok 7-9N-20W 17.5 Open        
                 
36 Montgomery, KS NW5-33S-15E 39.975 Open        
37 Montgomery, KS NW7-32S-14E 40 12/12/2011 12/12/2016 1/6th, Layne Energy Sycamore, LLC.    
38 Montgomery, KS NE 12-32S-13E 65 12/12/2011 12/12/2016 1/6th, Layne Energy Sycamore, LLC.    
39 Montgomery, KS SE 31-32S-15E 79.75     Coffeyville Resources,Kroeker-Goley #40, 41, 26,25,123,10,30,84 All $7,185
  Montgomery, KS SE 32-32S-15E 80     Coffeyville Resources,Kroeker-Goley #40, 41, 26,25,123,10,30,84 Above  
40 Montgomery, KS 1-32S-13E 356.67 12/12/2011 12/12/2016 1/6th, Layne Energy Sycamore, LLC.    
                 
41 Harper, Ks SE 15-33S-9W 40 07/26/2011 10/18/2014 3/16th, Wollsey Energy Corp    
42 Harper, Ks NW 31-32S-9W 155.57     Oil Producers, Hendricks #31-1   $55
                 
  Additions              
43 Garfield County SW/4 12-20N-8W 38.3333     Producer; BUSH-RANDOLPH #1; Sunoco Inc; Oil Net Decimal .0074869 RI; Gross Income 2012 $974.12; Net Income $904.00; DCP Midstream LP; Net Decimal .0074869 RI; Gross Income 2012 $582.13; Net Income $540.25; Seller: Curtis Hill   $1,556
44 Garfield County NE/4 34-21N-8W 75     Producer; Hill 34-1; Anadarko Minerals Inc; Oil Net Decimal .12109380 RI; Gross Income 2012 $2,030.56; Net Income $1,994.32; YTD $1,779.84; Mustang Gas Products; Gas Net Decimal .1210938 RI; Gross Income 2012 $6,810.29; Net Income $6,319.85; Seller: Curtis Hill   $8,841
45 Garfield County SW/4 26-21N-8W 155.07     Producer; Neely Unit 1, 2, 3; Chaparral Energy LLC; Oil Net Decimal .          RI; Gross Income 2011 $670.67; Net Income $622.39; Gross Income 2012 $123.20; Net Income $114.33; Seller: Cody & Destiny Hill, husband & wife   $794
46 Kingfisher County E/2 31-19N-9W 120 Open   Seller: MKB Royalty Corporation     
                 

Auction Terms

10% down day of the auction with balance due by October 23,2013

Buyer understands and agrees that it is Buyer’s sole responsibility to satisfy himself or herself as to the quantity of oil, gas and other minerals owned by Seller and as to the status of the title of any oil, gas and other mineral interest owned by Seller.  Seller makes no representation or warranties of any kind as to the quantity of the mineral acres or fractional interest in the oil, gas and other minerals owned by Seller.  Seller has no obligation whatsoever to furnish to Buyer an abstract of title to the oil, gas and other minerals being sold pursuant to this Agreement, or furnish any other evidence of title to Buyer.  In no event shall Seller be required to pay for any cost associated with updating, supplementing or compiling an abstract of title.  Except as otherwise stated herein, Seller agrees to deliver to Buyer marketable title to the oil, gas and other minerals Seller owns in and under the Property, subject to surface use and ownership, reasonable utility easements, rights-of-way, restrictive or protective covenants of record, if any, oil and gas leases, if any, and outstanding oil, gas and other mineral interests owned by third parties.  Buyer agrees to satisfy himself as to the status of Seller’s title in the oil, gas and other minerals in and under the Property and will notify Seller of any objections to title within 10 days of the date of this contract first written above.                                                                                                               

Notwithstanding anything herein to the contrary, Buyer and Seller agree that Seller shall have no obligation to furnish to Buyer Certificates of Non-Development or Certificates of Records Search from the Oklahoma Corporation Commission, or to furnish to Buyer an abstract of spacing covering the Property, or any other information concerning the spacing and unitization that may exist for the Property.

No matter shall be construed as a valid objection to title under this contract unless it is so construed under the Real Estate Title Examination Standards of the Oklahoma Bar Association, where applicable.  In case of valid objections to title, Seller shall have 60 days from being notified of such objections, or such additional time as may be agreed to in writing by Buyer and Seller, to satisfy such objections.  If such valid objections cannot be satisfied within the time specified in this paragraph, any earnest money paid pursuant to paragraph 2(A) herein shall be returned to Buyer and this contract shall be of no force and effect.

Directions

AUCTION LOCATION: Garfield County Expo Building -111 W. PURDUE, ENID OK

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