"Another concern I have is the vability of the leases. Has the propper forms been filed with the state? Dragon still isn't listed with the DNR which makes our ability to check lease and well status difficult. "
This is not really such a big deal. It is entirely usual to buy both the operator number and operator name from the entity from which you are acquiring leases since it avoids the need to post a cash bond for the ultimate plugging of the wells, ie, you just buy the whole package, including the prior operators ability to operate as an "Operator in good standing" with the state.
That's a smart thing to do. What is not smart is to not furnish the operator numbers and production numbers so that they can be independently verified by shareholders. That's counterintuitive and counterproductive, unless the intent is to obscure what is going on.
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