[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR3100.3-1]

[Page 323]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 3100--OIL AND GAS LEASING--Table of Contents
 
           Subpart 3100--Onshore Oil and Gas Leasing: General
 
Sec. 3100.3-1  Enforceability.

    (a) No option to acquire any interest in a lease shall be 
enforceable if entered into for a period of more than 3 years (including 
any renewal period that may be provided for in the option) without the 
approval of the Secretary.
    (b) No option or renewal thereof shall be enforceable until a signed 
copy or notice of option has been filed in the proper BLM office. Each 
such signed copy or notice shall include:
    (1) The names and addresses of the parties thereto;
    (2) The serial number of the lease to which the option is 
applicable;
    (3) A statement of the number of acres covered by the option and of 
the interests and obligations of the parties to the option, including 
the date and expiration date of the option; and
    (4) The interest to be conveyed and retained in exercise of the 
option. Such notice shall be signed by all parties to the option or 
their duly authorized agents. The signed copy or notice of option 
required by this paragraph shall contain or be accompanied by a signed 
statement by the holder of the option that he/she is the sole party in 
interest in the option; if not, he/she shall set forth the names and 
provide a description of the interest therein of the other interested 
parties, and provide a description of the agreement between them, if 
oral, and a copy of such agreement, if written.

[48 FR 33662, July 22, 1983, as amended at 53 FR 17352, May 16, 1988. 
Redesignated at 53 FR 22836, June 17, 1988]