§ 3141.63 Conduct of sales.
(a) Oil and gas leases. Lease sales for oil and gas leases will be conducted using the procedures for oil and gas leases in 43 CFR 3120.60.
(b) Combined hydrocarbon leases and tar sand leases. (1) Parcels will be offered by competitive auction.
(2) The winning bid will be the highest bid by a responsible and qualified bidder, equal to the minimum bonus bid amount as specified in § 3103.1 of this chapter or for hydrocarbon leases, the minimum bonus bid amount determined under § 3141.51, whichever is larger.
(3) Payments must be made as provided in 43 CFR 3120.62.