About Us
Our Lease
Our Concept
Our commitment
FAQ
About oil shale
Peak Oil
Our Lease
>
The Lease Terms
The Lease Terms
The resource
The Leasing process
Key Terms of the Lease
160-acre RD&D Lease awarded by the Bureau of Land Management in January 2007
The lease is for an initial term of 10 year lease, with potential 5 year extension
Preference Right to expand to 5120 acres upon demonstration of a commercially viable process
Requirements for Commercial Conversion:
Production of shale oil in a manner that reasonably demonstrates that an expanded operation would be commercially viable
Payment of a bonus based on fair market value
Consultation with state and local officials to develop a plan for mitigating the socioeconomic impacts
Posting of a reclamation bond
Determination that commercialization can be conducted, subject to mitigation measures, without unacceptable environmental consequences