What is the difference between an EOI and a Presale Noncompetitive Offer?
An EOI is an informal nomination for lands to appear on a competitive oil and gas auction. A presale noncompetitive offer is a formal nomination in which advanced rental (1.50 per acre) is paid along with a filing fee ($375). If no bid is received at the sale, the lease issues to the applicant for the $1.50 an acre rental. At the present time, we are able to work EOI’s and Presale’s within the same timeframes. However, in situations where time is critical the Presale’s will take priority.
Related Questions
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