The 1500 bucks is not to renew the lease. It's a severance reinstatement fee. Those 2 lease were severed because EOI failed to conduct scheduled H-15 tests on some of the wells on those leases. They need to do those first then pay the fees. That's if the wells pass the tests. If they fail it could be quite expensive to resolved and is usually resolved with plugging the well.
What is an H-15 test?
The H-15 test is required to establish that an inactive well over 25 years old does not pose a potential threat of harm to natural resources, including surface and subsurface water, oil and gas.
News 
Market Data 
Discover 
AI
