[Code of Federal Regulations]

[Title 43, Volume 2]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 43CFR3100.3-1]



[Page 332]

 

                    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]