MINERAL BOARD HOLDS LEASE SALE IN MAY

The State Mineral Board conducted a Lease Sale May 13, 1998 at 10:00 a.m. in the Mineral Board Hearing Room located in the State Land and Natural Resources Building in Baton Rouge. Below are the preliminary results of the Lease Sale and 1997-98 Fiscal Year totals.

	NOMINATED	NOMINATED	LEASES	NO. OF	AMOUNT OF
CLASSIFICATION	TRACTS	ACREAGE	AWARDED	ACRES	CASH PAYMENTS
Lease Sale May 13, 1998
State Offshore Leases	4	4,543.900	6	2,613.520	$594,489.94
State Onshore Leases	60	60,311.020	18	6,070.280	2,282,484.77
State Dedicated Leases	0	0.000	0	0.000	0.00
State Agency Leases	3	1,251.000	1	90.000	31,651.20
TOTAL SALE	67	66,105.920	25	8,773.800	$2,908,625.91

1997-98 Fiscal Year
State Offshore Leases	192	295,160.420	57	24,221.528	$10,957,685.65
State Onshore Leases	497	408,858.330	194	51,104.136	14,465,015.45
State Dedicated Leases	43	66,685.270	13	10,541.070	10,310,357.93
State Agency Leases	47	8,445.752	27	3,091.100	755,656.03
TOTAL YEAR TO DATE	779	779,149.772	291	88,957.834	$36,488,715.06

Editors: For more information on this report, please contact Gus Rodemacher at (504) 342-4607.