[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR227.4]

[Page 639-640]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 227_LEASING OF CERTAIN LANDS IN WIND RIVER INDIAN RESERVATION, 
WYOMING, FOR OIL AND GAS MINING--Table of Contents
 
Sec. 227.4  Sale of oil and gas leases.

    (a) At such times and in such manner as he may deem appropriate, 
after being authorized by the Joint Business Council of the Shoshone and 
Arapahoe Tribes or its authorized representative, the superintendent 
shall publish notices at least thirty days prior to the sale, unless a 
shorter period is authorized by the Secretary of the Interior or his 
authorized representative, that oil and gas leases on specific tracts, 
each of which shall be in a reasonably compact body, will be offered to 
the highest responsible bidder for a bonus consideration, in addition to 
stipulated rentals and royalties. Each bid must be accompanied by a 
cashier's check, certified check, or postal money order, payable to the 
payee designated in the invitation to bid, in an amount not less than 25 
percent of the bonus bid. Within 30 days after notification of being the 
successful bidder, said bidder must remit the balance of the bonus, the 
first year's rental, and his share of the advertising costs, and shall 
file with the superintendent the lease in completed form. The 
superintendent may for good and sufficient reasons, extend

[[Page 640]]

the time for completion and submission of the lease form, but no 
extension shall be granted for remitting the balance of monies due. If 
the successful bidder fails to pay the full consideration within said 
period, or fails to file the completed lease within said period or 
extension thereof, or if the lease is disapproved through no fault of 
the lessor or the Department of the Interior, 25 percent of the bonus 
bid will be forfeited for the use and benefit of the Shoshone and 
Arapahoe Tribes.
    (b) All notices or advertisements of sales of oil and gas leases 
shall reserve to the Secretary of the Interior the right to reject all 
bids when in his judgment the interests of the Indians will be best 
served by so doing, and that if no satisfactory bid is received, or if 
the accepted bidder fails to complete the lease, or if the Secretary of 
the Interior shall determine that it is unwise in the interests of the 
Indians to accept the highest bid, the Secretary may readvertise such 
lease for sale, or if deemed advisable, with the consent of the tribal 
council or other governing tribal authorities, a lease may be made by 
private negotiations. The successful bidder or bidders will be required 
to pay his or their share of the advertising costs. Amounts received 
from unsuccessful bidders will be returned; but when no bid is accepted 
on a tract, the costs of advertising will be assessed against the 
applicant who requested that said tract be advertised.

[22 FR 10622, Dec. 24, 1957, as amended at 25 FR 7185, July 29, 1960. 
Redesignated at 47 FR 13327, Mar. 30, 1982]