Show i Ute Ule I Indian dian Lands Get Gel High Bids I On Oil Od and Gas Holdings Advertised under special conditions for oil and gas mining min mm- ing tog leases Ute Indian lands attracted some very favorable bids last Thursday Ten tracts of tribal lands containing 1568 acres acres and 22 22 tracts of allotted allotted allot allot- ted land containing 1160 acres located south and east of the well drilling activity ty in the Bluebell field in Township 1 South Range 1 West drew bids ranging from 1587 to per acre NINETEEN of the tracts con containing 1160 acres In sections sec tiona 4 8 8 9 16 and 17 both tribal and allotted were advertised advertised ad ad- as one unit and received received re reo re- re a bid of an acre from the Flying Diamond Land and Mineral Corporation Vernal Ver nat nal nal This bonus is in addition to royalties on a sliding scale ranging from 20 per cent for barrels of oil produced per day to 30 per cent for forr all over barrels produced Also tied to this group of leases is the agreement to commence commence commence com com- mence the drilling of three wells to a Jl maximum depth of fe feet fett located in the Wh Section by October I 1 1969 Inthe In hi hithe inthe the Wh section 16 by October 1 1 1970 and in som some other location loc loco atlon in the remaining advertised advertised advertised adver adver- acreage of the five sections sections sec sec- sections by October 1 1971 TRACTS OF remaining available Indian land in the township were offered to the highest bonus bidder on a sep sep t t r arate scale tract basis with a II flat royalty rate of 20 per cent The normal rate of royalties royalties- I on Indian lands is 16 23 3 per cent Of this group of 13 par par- eels cels both tribal and allotted Flying Diamond was high on four tracts containing acres with bids ranging ranging from from 1587 to 2637 2637 an acre The I Ionly only other bidder at the sale t the Monsanto Company took the remaining nine tracts comprising acres acres acres' for bids ranging from to an acre TOTAL HIGH bonus for the 2728 acres was with the average high bid on tribal lands amounting to 2635 2645 and 7 19 for the allotments The average high bids for the entire entire en en- tire sale was per acre The Oil and Gas sup sup- I has recommended acceptance ac of all high bids the I Uintah and Ouray Tribal Business Bus- Bus iness I Committee has baS accepted them insofar as tribal lands are concerned concerned- and authority y t has been given to do award the t i leases to the high hi bidders t j |