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LilDigger

03/08/15 6:03 PM

#5514 RE: Matrix2 #5513

Matrix2, another good site for information is the Alaska DNR Recorder, you can see the history of liens by suppliers and contractors.

I'm sure have read the PR where the company writes it has 100% ownership in the Nolan leases.

Just a clarification on the nature of a mineral lease, the leasehold never own the real property all they have is the RIGHT to explore and/or extract the resource within the boundaries of the lease.

As you will notice in reputable resources companies they use the phases: 100% interest in the minerals rights. I know oil companies with gas processing facilities on government land actually put a lien against the land their facilities are built because they don't own it, much like a tradesman will put a lien on a house to secure their investment.

Well currently Alminco LLC (the holder of part of the Nolan) is suing the company over unpaid annual rent and government payments. Another leaseholder that had an agreement with Silverado took back the rights last year. As for the Ester Dome, there are five years of property taxes owning (on the improvements) and the leaseholder Roger Burggraf is on the hook for them.