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Bankruptcy Auction – Valuable Oklahoma Oil & Gas Leases, Okmulgee County

4 Valuable Oil & Gas Leases Covering 360± Acres in Okmulgee County, OK

BANKRUPTCY AUCTION - Four owner-operated producing oil & gas leases, Okmulgee County, OK

Live Off-Site Auction

Began: Wednesday, December 21, 2011 at 9:00 AM CST

Location: 111 W. 4th Street, US Bankruptcy Court, Courtroom 215, Okmulgee, OK 74447

Details

Adams Oil & Gas Lease:

Adams Oil & Gas Lease

Adams Oil & Gas Lease 2:

Adams Oil & Gas Lease 2

James Oil & Gas Lease:

James Oil & Gas Lease

James Oil & Gas Lease 2:

James Oil & Gas Lease 2

EE Lee Oil & Gas Lease:

EE Lee Oil & Gas Lease

Click on any image to view larger.

PLEASE SEE THE TERMS OF SALE FOR AN IMPORTANT AUCTION UPDATE

BANKRUPTCY AUCTION – This is your opportunity to take advantage of the exceptional upside potential of these underserved, owner-operated oil and gas leases. Three of the leases have recent oil production and one lease has recent gas production.  Total productive capacity of this offering for the past 12 months, based on the available records, is as followings:

Adams Lease, Oil – 1,483 Barrels, Gas - 1,742 MCF

George James Lease, Oil – 114 Barrels, Gas – None

E.E. Lee Lease, Oil – 178 Barrels, Gas - None

W.E. Lee Lease, Oil – None, Gas – None, Last recorded production was 149 Barrels in 2009.

There are approximately 360± acres of leaseholds. The leases are in close proximity to each other and are located in Okmulgee County, Oklahoma. The leases will only be offered in their entirety and subject to the Motion for an Order (1) Approving and Authority Sale Free of Liens, Claims and Encumbrances and Other Interests; (2) Approving Asset Purchase Agreement; and (3) Approving the Notice of Assignment (the “Motion”).

Additional documents are available to be reviewed at our offices, including available title documents.  Please contact National Commercial Auctioneers to schedule a document inspection time.

Inspections: There will be a caravan-style inspection to tour the lease locations on Monday, December 12, 2011. We will be leaving promptly at 10:00 a.m. from a church parking lot located at 110 W. 5th Street, Beggs, OK. Please let the auction company know if you plan on attending the inspection so we know to expect you.

 

IMPORTANT UPDATE – The Trustee has accepted an offer for $151,787.93.  In order to bid at the auction, you must follow the procedures outlined in the Motion for an Order (1) Approving and Authority Sale Free of Liens, Claims and Encumbrances and Other Interests; (2) Approving Asset Purchase Agreement; and (3) Approving the Notice of Assignment (the “Motion”).  The objection deadline to bid is December 16, 2011 at 4:00 p.m. (prevailing Central Time). The next highest acceptable bid for all four leases will be $161,787.93.   Please carefully read the Motion and follow all procedures to participate in the auction.

To obtain the Property Information Package, please download, sign, and return the Confidentiality and Non-Reliance Agreement (CNRA) to to National Commercial Auctioneers. See the Documents tab for the CNRA.

Case Information: Bobby Rowe Energy, Inc. (09-81217), Chapter 11 US Bankruptcy Court, Eastern District of Oklahoma

AuctionServices

National Commercial
Auctioneers

7715 East 111th Street South, #114
Tulsa, OK 74133
info@natcomauctions.com
918-895-7077
877-895-7077 toll free
918-895-7076 fax