1. FORM 1006C – LETTER OF CREDIT

2. This presentation will assist you in the completion of the Form 1006C. The letter of credit. Date of Last Revision: 2011 Rule Requirement: OAC 165:10-1-13 Explanation of Form: Prior to drilling and/or operating a well, the operator shall furnish the Conservation Division an irrevocable commercial letter of credit ($25,000.00) or other present alternate surety, Form 1006A or 1006. Operator must file the original copy with the bank seal affixed. A letter of credit must be valid for at least a one year period. [Reference 165:10-1-10 and 165:10-1-13] Question concerning this Form: Contact the Surety Department (405) 521-2246

3. FORM 1006C – LETTER OF CREDIT LETTER OF CREDIT NUMBER: This will be assigned by the Finanical Institution

4. FORM 1006C – LETTER OF CREDIT OTC/OCC OPERATOR NUMBER: This number is assigned by the Surety Department for new operators

5. FORM 1006C – LETTER OF CREDIT TODAY’S DATE

6. FORM 1006C – LETTER OF CREDIT NAME OF THE BANK

7. FORM 1006C – LETTER OF CREDIT ADDRESS: If the mailing address is a PO Box, a physical address MUST be provided also.

8. FORM 1006C – LETTER OF CREDIT PHONE AND FAX NUMBERS FOR THE BANK

9. FORM 1006C – LETTER OF CREDIT CONTACT PERSON

10. FORM 1006C – LETTER OF CREDIT E-MAIL ADDRESS

11. FORM 1006C – LETTER OF CREDIT NAME OF THE OPERATOR

12. FORM 1006C – LETTER OF CREDIT ADDRESS: If the mailing address is a PO Box, a physical address MUST be provided also.

13. FORM 1006C – LETTER OF CREDIT PHONE AND FAX NUMBERS FOR THE BANK

14. FORM 1006C – LETTER OF CREDIT CONTACT PERSON

15. FORM 1006C – LETTER OF CREDIT E-MAIL ADDRESS

16. FORM 1006C – LETTER OF CREDIT THE AMOUNT OF THE LETTER OF CREDIT (NOT TO EXCEED $25,000) UNLESS ORDERED BY THE COURT

17. FORM 1006C – LETTER OF CREDIT DATE THAT LETTER OF CREDIT AUTOMATICALLY RENEWS ON

18. FORM 1006C – LETTER OF CREDIT THE TOTAL AMOUNT OF VALUE OF THE LETTER OF CREDIT ($25,000 IS BLANKET COVERAGE)

19. FORM 1006C – LETTER OF CREDIT FINANCIAL INSTITUTION’S SIGNATURE BLOCK

20. FORM 1006C – LETTER OF CREDIT ALL OPERATORS AND FINANCIAL INSTITUTIONS BE SURE TO READ PRIOR TO EXCECUTING THIS AGREEMENT

21. FORM 1006C – LETTER OF CREDIT IF THE LETTER OF CREDIT IS LESS THAN $25,000 THEN ATTACH A COPY OF THE FORM 1006D WITH THE LETTER OF CREDIT