We had to execute a NEMI release with the lease we did accept.
Does this mean we already leased that section to the first group which would preclude leasing it again? The landman who contacted us on the more recent approach said he was familiar with the outfit and lease we had recently executed. I think maybe this issue is too complex to work out in a forum post. I really do appreciate all of the advice and will follow up on some of these things
The following is what I rec’d from landman from the previous lease that explained the need for a NEMI release. It mentions section 3, Blk C-23.
”Due to the extreme complexity of the mineral title for your Partnership’s predecessor-in-interest, Fred & Nan Leck, we had a title attorney review the title and provide an accurate mineral interest for all subject tracts in which they own interest.
After we received the final title review, we had to revise the following mineral interests for the Partnership:”
| Column 1 | Column 2 | Column 3 | Column 4 | E | F |
|---|---|---|---|---|---|
| Sec 3, Blk C-23 | NE/4 | 20.0000 | 0.041015625 | 0.8203125 | |
| Sec 3, Blk C-23 | SE/4 | 80.0000 | 0.005859375 | 0.4687500 | |
| Sec 3, Blk 26 | NW/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| Sec 3, Blk 26 | NE/4 | 160.0000 | 0.052734375 | 8.4375000 | REVISED INT FROM .029296875 TO .052734375 |
| Sec 3, Blk 26 | SW/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| Sec 3, Blk 26 | SE/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| Sec 9, Blk 26 | NE/4 | 160.0000 | 0.035156250 | 5.6250000 | REVISED INT FROM 0.05859375 TO .03515625 |
| Sec 9, Blk 26 | SE/4 | 160.0000 | 0.005859375 | 0.9375000 | REVISED INT FROM 0.052734375 TO .005859375 |
| Sec 10, Blk 26 | NW/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| Sec 10, Blk 26 | NE/4 | 160.0000 | 0.052734375 | 8.4375000 | |
| Sec 10, Blk 26 | SW/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| Sec 10, Blk 26 | SE/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| Sec 22, Blk 74 | NE/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| Sec 22, Blk 74 | SE/4 | 160.0000 | 0.052734375 | 8.4375000 | REVISED INT FROM 0.076171875 TO .052734375 |
| Sec 33, Blk 74 | NE/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| Sec 33, Blk 74 | SE/4 | 160.0000 | 0.005859375 | 0.9375000 | |
| REVISED TOTAL NMA: | 41.6015625 |
We did. He felt we have a defensible position.