OKMULGEE, Okla., Nov. 29, 2011 (GLOBE NEWSWIRE) -- National Commercial Auctioneers [www.natcomauctions.com] announces the auction of four valuable oil & gas leases covering 360 acres in Okmulgee County, Okla., on Wednesday, December 14, 2011, at 10am local time, pursuant to case (09-81217) Bobby Rowe Energy, Inc., in Chapter 11 U.S. Bankruptcy Court of the Eastern District of Oklahoma, according to Stephen Karbelk, CAI, AARE, CEO and Founder of the company.
"This is a tremendous opportunity to take advantage of the exceptional upside potential of these underserved, owner-operated oil and gas leases," explained Karbelk. "Three of the leases have recent oil production and one lease has recent gas production."
The leases will be offered individually, in combinations and as a whole to the highest bidder. Total production capacity of this offering for the past 12 months, based on the available records, is the following: Adams lease, oil – 1,483 barrels, gas – 1,742 MCF; George James lease, oil – 114 barrels; E.E. Lee lease, oil – 178 barrels; W.E. Lee lease, last recorded production of 149 barrels in 2009.
"There are approximately 360 acres of leaseholds," Karbelk said. "The leases are in close proximity to each other and will be offered with no minimum bid and no reserve price, but only subject to customary bankruptcy court approval."
The auction will be conducted at the U.S. Bankruptcy Court, 111 W. 4th Street, Courtroom 215, in Okmulgee. Additional documents are available to be reviewed, including available title documents. For more details on how to receive the property information package, or to schedule a document inspection time, visit www.natcomauctions.com or call (877) 895-7077.
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