News Release

State Mineral Board Holds May Lease Sale

The State Mineral Board conducted its monthly Lease Sale on May 14, 2008, in the Conservation and Mineral Resources Hearing Room of the LaSalle Office Building in Baton Rouge.

According to Mineral Board Secretary Marjorie McKeithen, the state receives over $2.3 million from the sale.

Below are the preliminary results of the May lease sale and 2007-2008 Fiscal Year totals.

CLASSIFICATION	NOMINATED TRACTS	NOMINATED ACREAGE	LEASES AWARDED	NO. OF ACRES	AMOUNT OF CASH PAYMENTS
Lease Sale May 14, 2008
State Offshore Leases	4	2,288.610	2	254.716	$70,046.91
State Onshore Leases	36	36,240.697	15	4,179.817	$1,877,442.64
State Dedicated Leases	4	1,859.220	1	269.540	$190,025.70
State Non-Dedicated Leases
Sabine Island WMA	0	0.000	0	0.000	$0.00
White Lake Leases	0	0.000	0	0.000	$0.00
State Agency Leases	2	67.290	2	67.290	$229,774.53
Total Sale	46	40,455.817	20	4,771.363	$2,367,289.78
NOTE: The totals for this sale do not refflect any options that may be exercised or revisions to acreage and cash amounts that may take place after this sale date which may cause these totals to change.
2007-2008 Fiscal Year
State Offshore Leases	76	133,364.670	29	20,272.936	$8,728,119.73
State Onshore Leases	453	467,786.591	165	45,676.006	$14,796,796.15
State Dedicated Leases	42	66,169.140	19	2,559.990	$952,020.43
State Non-Dedicated Leases
Sabine Island WMA	4	3,484.000	1	672.000	$272,160.00
White Lake Leases	24	23,222.440	1	740.000	$900,950.00
State Agency Leases	42	3,956.012	37	2,942.712	$1,517,770.62
Total Year to Date	641	697,982.853	252	72,863.644	$27,167,816.930
NOTE: The Fiscal Year totals include this sale's totals and also options exercised and revisions to acreage and cash amounts that may have taken place from the date of the last sale to this state lease sale.