Minco, OK 73059 - Canadian County

507 ACRES LAND * 528 ACRES PRODUCING MINERALS

CANADIAN * GRADY * CADDO COUNTY OK

ABSOLUTE AUCTION

NO MINIMUMS * NO RESERVES

FRIDAY MARCH 23, 2012 10:00 AM

AUCTION LOCATION: First United Methodist Church, 301 N. 3rd St. Minco, OK.

TRACT # 1

Surface Rights ~ SE/4 of 5-10N-6 W.I.M. Canadian County, OK. (160 acres)

Taxes: $786.04

Directions: From Union City, OK. (9 miles south of El Reno, Ok) go 5 miles east on Hwy 152 to Banner Rd, then 1.5 miles south.

This tract consists of approximately 160 acres of land. According to the Canadian County FSA there are 153.8 DCP acres of cropland with 109.1 acre wheat base and a 39 bushel per acre yield and a 35.0 acre Cotton base with a yield of 517. Principal soil types are: Reinach Fine Sandy Loam, 0-1 % slopes, Watonga Silty Clay 0-1% slopes and Norge Silty Loam 1-3% slopes. This tract is surface rights only! This is one of the nicest bottom land farms in the area!!

Possession: will be given after the harvest of the existing crop.

Improvements: 40X60 barn, 2-water well (no pumps); perimeter fencing.

TRACT # 2

Surface Rights ~ W/2 SW/4 & All that part of E/2 SW/4 & SE/4 NW/4, Lying west of the 98th Meridian in 25-10N-8 W.I.M. Grady County, OK. (172 acres)

Taxes: $352.87

Directions: From the stop light in Minco, OK go west to SW 10th Street then south (approx. 100) to Gin Road, then 3 miles west to CS 2805.

This tract consists of approximately 172 acres of land. According to the Grady County FSA there are 118.2 DCP acres of cropland with 74.0 acre wheat base and a 39 bushel per acre yield and a 30.0 Cotton base with a yield of 549 and an Oat base of 6.1 with a yield of 57 and a 7.7 acre Grain Sorghum base and a 42 yield. The current crop is Alfalfa hay in its 3rd year of production. Buggy Creek runs through this property providing excellent cattle water. Property has blacktop frontage. Principal soil types are: Port Silt Loam 0-1% slopes, Pond Creek Silt Loam 1-3% slopes, Yahola Fine Sand 0-1% slopes, Norge Silty Loam 1-3% slopes, Minco Silt Loam 1-3% & 3-5% slopes. Excellent bottom land! This tract is surface rights only!

Possession: will be given August 2nd 2012

Improvements: 40x80 round top; 30x30 pole barn, water well (pump doesnt sell).

TRACT # 3

Surface Rights ~ NW/4 of 24-9N-9 W.I.M. Caddo County, OK. (160 acres)

Taxes: $151.50

Directions: From Minco, OK. Go 4 miles south on Hwy 81 to CR1220 road, then 8.5 miles west

This tract consists of approximately 160 acres. According to the Caddo County FSA there are 96.3 DCP acres of cropland with an 8.1 acre Oat base and a 57 yield. This farm is mostly all native grass with Blackjack timber, scattered Cedar trees, and rolling terrain. This is an excellent cattle/hunting farm. Good deer, quail and hog hunting. Principal soil types are: Ironmound-Nash Complex 5-12% slopes, Darnell-Noble 3-12% slopes, and Minco Fine Sandy Loam 3-8% slopes. This tract is surface rights only!

Possession: will be given at closing

Improvements: water well (pump doesnt sell), perimeter fencing.

TRACT # 4

Surface Rights ~ 15 acres in SE/4 of SW/4 of 34-11N-7 W.I.M. Canadian County, OK.

Taxes: $196.11

Directions: From Union City, OK. Go 1 mile south on Hwy 81 to SW 89th road, on corner

This tract consists of approximately 15 acres. Property has electric power, city water, septic sewer, small pond, grass with some mature trees. Excellent building location! This tract is surface rights only! Mobile home does not sell.

Possession: will be given at closing.

Improvements: perimeter fencing, septic tank and lateral lines.

TRACT # 5

Mineral Interest ~ SE/4 of 5-10N-6 W.I.M. Canadian County, OK.

Selling 100% Mineral Interest (160 acres). Production and income reports available on website. Jan. Nov. 2011 $54,993.57 Net income. Bornemann #1-5; Bornemann #2-5; McComas # 1-5 Chaparral Energy, LLC.

TRACT # 6

Mineral Interest ~ W/2 SW/4 & All that part of E/2 SW/4 & SE/4 NW/4, Lying west of the 98th Meridian in 25-10N-8 W.I.M. Grady County, OK.

Note: The remaining mineral interest (1/4) will revert back to land when production ceases.

Selling 75% Mineral Interest (129.32 acres, .03652463 3/16th). Production and income reports available on website. Jan. Nov. 2011 $11,711.17 Net income. McComas 1-25 Continental Resourses, Inc.

TRACT # 7

Mineral Interest ~ NW/4 of 24-9N-9 W.I.M. Caddo County, OK.

Selling 20 acres Mineral Interest. Production and income reports available on website. Jan. Nov. 2011 $ 84.52 Net income. Winn Don #1-24 Devon Energy

TRACT # 8

Mineral Interest ~ 15 acres in SE/4 of SW/4 of 34-11N-7 W.I.M. Canadian County, OK.

Selling 15 acres Mineral Interest. Production and income reports available on website. Jan. Nov. 2011 $246.26 Net income. Albers #1-34 Newfield Exploration

TRACT # 9

Mineral Interest ~ 2.5 acres in 21-10N-7 W.I.M. Grady County, OK.

Selling 2.5 acres Mineral Interest. Production Schutten well, Blake Production Co.

TRACT # 10

Mineral Interest 40 acres in 15-8N-8 W.I.M. Grady County, OK.

TRACT # 11

Mineral Interest ~ 10 acres in NW/4 of 11-6N-6 W.I.M. Grady County, OK.

No production, currently open.

TRACT # 12

Mineral Interest ~ 26.67 acres in W/2 of 34-10N-8 W.I.M. Grady County, OK.

Well just drilled in July 2011. Treadway # 1-34H Devon Energy

TRACT # 13

Mineral Interest ~ 16 2/3 acres in 22-9N-8 W.I.M. Grady County, OK.

Selling 16 2/3rds mineral interest. Approximately $240.00 a year income. Rowe # 1-22 to Vernon E. Faulconer, Inc.

TRACT # 14

Mineral Interest ~ 16 2/3 acres in 26-9N-8 W.I.M. Grady County, OK.

No Production, currently leased August 25, 2011 3 years 3/16 to Marathon Oil Co.

TRACT # 15

Mineral Interest ~ 82 acres in 25-9N-6 W.I.M. Grady County, OK.

Selling 82 acres mineral interest. Production and income reports are available on the website. Jan. Nov. 2011 $36,852.37 Net income. Campbell Farms #2-25, Brockway #1-25

TRACT # 16

Mineral Interest ~ 10 acres 13-9N-9 Caddo County, OK.

Selling 10 acres mineral interest. Fedderson #1-13 Trepco Prod.

INTERNET BIDDING: will be available by logging on to lippardauctions Neither Auction Company or Seller are responsible in the event of loss of signal by either side.

CLOSING: will be set 30 days from day of the auction and will be at the office of Cochran Abstract and Closing Company, Chickasha OK. Closing fee is $400.00 per closing and will be shared equally between buyer and seller.

TERMS AND CONDITIONS: SURFACE RIGHTS; 10% of the total purchase price is to be placed in escrow the day of the auction with the balance being due upon delivery of marketable title. Minerals: 10% down day of auction with balance being due in 30 days. All financing must be in place prior to bidding. All information is taken from sources believed reliable; however, no guarantee is being made by the Auction Company or the Seller. Buyers should satisfy themselves as to any inspections and do their due diligence prior to bidding. Any announcements made the day of the auction supersedes all advertising.

SELLER: GARVIN McCOMAS TRUST