R652-20-2000. Bid Award Under Simultaneous Filing

The applicant who submits the highest monetary bid is the winning bidder. The winning bidder shall determine the entirety of the Sovereign Lands mineral estate that will be leased by completing the title work necessary to make that determination. The mineral acres attributable to the Sovereign Land mineral estate shall be made in consultation with the Division, using title examination methods approved by the Division. Should the winning bidder elect not to perform the title work necessary to establish the Sovereign Land mineral estate to be leased, which may not exceed 3 months following the bid award, the winning bid may be considered withdrawn at the Division's discretion, and all the money tendered by the applicant, except for the filing fee, shall be returned within 30 calendar days.