[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR3141.6-3]

[Page 404]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 3140_COMBINED HYDROCARBON LEASING--Table of Contents
 
       Subpart 3141_Competitive Leasing in Special Tar Sand Areas
 
Sec. 3141.6-3  Conduct of sales.

    (a) Competitive sales shall be conducted by the submission of 
written sealed bids.
    (b) Minimum bids shall be not less than $25 per acre.
    (c) In the event that only 1 sealed bid is received and it is equal 
to or greater than the minimum bid, that bid shall be considered the 
highest bid.
    (d) The authorized officer may reject any or all bids.
    (e) The authorized officer may waive minor deficiencies in the bids 
or the lease sale advertisement.
    (f) A bid deposit of one-fifth of the amount of the sealed bid shall 
be required and shall accompany the sealed bid. All bid deposits shall 
be in the form of either a certified check, money order, bank cashier's 
check or cash.