My Inheritance Oil- mineral rights in North Dakota Bakken Formation rights and 5 year oil-drilling lease Start Price USD 38,000.00 Current Price USD 38,000.00 Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Sunday, October 05, 2008 End Time Sunday, October 12, 2008 Location Palm Coast, Florida See more about 'My Inheritance Oil- mineral rights in North Dakota' Description Be sure to add me to your favorites list! Inheritance Oil- mineral rights in North Dakota / Leased to Contex Energy for drilling 5 YEARS *10.18007 undivided net mineral acres underneath a 325.60 acre tract of land. The Legal Description Township 160 North, Range 91, 5th P.M. Section 4: Lots 3; Lot 4 and S/2 NW/4 Section 5: Lots 1; Lot 2 and S/2 NE/4 Containing 325.6 Acres more or less Containing 10.18007 Net acres, more or less *A lease and all future royalty monies and proceeds generated from said lease with CONTEX Energy,. This land was inherited by me, from my mother, and being a direct heir of Grace Downing, deceased.This land is located in Burke County, North Dakota.  According to all nationally recognized geological surveys and Geological institutions, MOST of Burke County, ND is located inside the formidable and recently discovered BAKKEN FORMATION.Bakken Formation:http://industry.bnet.com/energy/images/bakken-shale.jpgBurke County, North Dakota:http://pix.epodunk.com/locatorMaps/nd/ND_22524.gifThe two overlap, considerably.  I am NOT stating my property is underneath the BAKKEN Formation, because I do not live in this area of the country, and I haven't been there since I was a young boy.  BUT, there is a very good chance it is, considering 97% of Burke County is INSIDE this formation.  Please, do your own homework online or from professional sources before bidding.Consider this:  How many times do you think you will see mineral rights in/near the BAKKEN FORMATION up for sale, in your lifetime?Happy bidding, and good luck.Thank you mr forester for the more acurate information pertaining to your profecional assessment of the lease and my paperwork abooveFYI:  Reason for selling:  Taking care of nearby relatives with medical issues in FL.     My lease with the oil/drilling company (CONTEX ENERGY) is binding as dated . In good faith Contex Energy gave me $1,273.00 bonus. My cousin is the one negotiated the deal with Contex Energy on behalf of us 6 grandchildren/Heirs.  She has been a bank manager for 25 years in North Dakota where the drilling will be done. All documents are legal. The highest bidder will assume 100% of my 1/6th interest/portion of the remainder of the lease dated 2007 and will receive 100% of my 1/6th future royalties from the gas and oil sold or used that I have inherited from the mineral rights. After I receive payment in full the winning bidder will receive all my original documents including a notarized assignment of transfer of the mineral rights to the winning bidder and the transfer of the lease at the end of the auction via overnight or express mail, your preference after funds have cleared.   Personal information; My grandparents god rest their souls lived there entire lives in North Dakota where they owned and farmed 1,000's of acres of land. I never thought much about all the oil drilling that was going on because as far back into my childhood as I can remember my mother told me there was plenty of oil but the government could buy it cheaper over sea's. After my Mother passed on I was contacted by my relatives in North Dakota regarding my Grandmothers will and how I had inherited my portion (over 325 acres) with 1/6th royalties on mineral rights with the lease I have from my mother.I also received a call from a company that was brokering the lease with Contex Energy, myself and my 5 brothers and sisters so they could drill for oil. I signed the lease and received $1,273.00 token of good faith (as there lawyers put it). My wife and I were very excited! In addition due to the war in Iraq American oil drilling company's were aggressively leasing and drilling on American soil to relieve our dependence on middle eastern oil.  I did a little research to see what the internet had to say about all this oil in the upper mid  America. WOW I was amazed to see all the articles referring to a huge basin that runs right through North Dakota that is believed to retain 100 time more oil than all of Alaska! Go ahead look for yourself, please... " North Dakota Oil Production Still Booming "   " A new black gold rush is under way, this time in North Dakota. The potential payoff is huge -- up to 100 billion barrels of oil. That's twice the size of Alaska "   "Oil drillers have their eye on a vast oil field in and around North Dakota, which promises a steady flow of domestic crude for years"   " Oil Making 'Overnight Millionaires' in North Dakota, In less than a year,"   "North Dakota oil discovery called biggest in U.S. Posted Apr 10 2008"   " Western North Dakota has large oil reserves. By some estimates, it has more oil than the Arctic National Wildlife Refuge. A federal government geologist estimated a formation called the Bakken shale holds 400 billion barrels of oil. "   " Even if it's a percentage of a percentage of a percentage of 400 billion barrels of resource, that's a big number," says Ness. "What's recoverable of that resource is the important number."    Why am I selling?  My wife and I have given this alot of thought. It's really nobody's business but I understand there's bad people out there with nothing better to do with there time than cheat and steal there way to putting a few dollars in there pocket. I'm 44 years old and haven't been able to work for about a year and 6 months ago my wife was diagnosed with M.S. She already had and has serious asthma. Or medical bills are spiraling out of control we have 2 little girls 4 and 8 and were one month from foreclosing on our home. There's more so believe me I understand what we stand to lose but we have exhausted our resources and don't have any other choice but to sell. Right now I see it as a blessing we have the inheritance to sell. We simply don't have 6 months to a year or what ever it's going to be to start getting royalties from the sale of the oil drilling. If you win the auction I hope you put the money to good use when it pays.   For my security; I have chosen not to show any of my legal inheritance documents or check stubs to protect my privacy and my family's identity.   I have listed this with no reserve to demonstrate my good faith. Please feel free to look into any information you deem necessary to be assured this is for real. To the best of my knowledge all the information regarding ownership and location is public record including the will. All questions will be answered through eBay as required policy   This could very possibly make you millions sometime within 5 years. Could be next month who knows! PLEASE NOTE: I HAVE SOLD MY MINERAL RIGHTS AND THIS AUCTION IS FOR MY OLDER BROTHERS MINERAL RIGHTS PLEASE SEE MY POSITIVE FEEDBACK FOR THE OTHER SALE. ALL PAPERWORK, TERMS AND LOCATIONS ARE THE SAME. I wish you the best of luck       On Jul-22-08 at 10:31:18 PDT, seller added the following information: Use the FREE Counters 1 million sellers do - Vendio! Place a Bid!