Net Leasehold Acre

Example Definitions of "Net Leasehold Acre"
Net Leasehold Acre. Means the full oil and gas leasehold interest in one Mineral Acre, so that, for example, a person may have one Net Leasehold Acre by owning the entire leasehold interest in an oil and gas lease covering one Mineral Acre or by owning an undivided 25% leasehold interest in an oil and gas lease covering four Mineral Acres.
Found in TETON ENERGY CORP contract
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