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Iowa Wesleyan University (“Wesleyan University” or the “University”) has engaged AiM Mineral Land to assist the University with the sale of certain Mines and Mineral Fee Title Lands described as all that portion of Section 33-08-32-W1M (as shown in red below) includes petroleum and natural gas and its subsurface mineral interests located in the Redvers Parkman area of Saskatchewan (the “Property”). The Property is located southeast of the Parkman Unit, operated by Pemoco Ltd. and offsetting to the Mair oil field operated by Saturn Oil & Gas Inc. The Petroleum and Natural Gas rights has been leased multiple times since 1980 which has led to the University’s leasehold revenue. The more recent interest in this area has been with respect to subsurface mineral rights, specifically the interest has been from Lithium exploration companies. At the Province of Saskatchewan Mineral Rights Public Offering held on November 21, 2022, rights directly offsetting the University’s fee title lands was purchased by Flowing Lithium Exploration Inc. those lands are identified as outlined in red below. The work requirement of the parcel has a capital commitment to earn the entire disposition of more than $10,000,000.00 dollars to be made over the primary term of […]
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