SASSMAN RANCH

(South Texas Hunting---Ranching---Recreation---Minerals---Oil & Gas Production)
1,520.52 ACRES
ATASCOSA COUNTY, TEXAS

LOCATION: Located one mile west of Charlotte on State Highway 85 (a.k.a. FM 140); or 12 miles southwest of Jourdanton, the County Seat; or 17 miles southwest of Pleasanton; or 24 miles east of Pearsall; or 42 miles south southwest of downtown San Antonio; or 100 miles northwest of Corpus Christi, or 105 miles north northwest of Laredo; or 113 miles south southwest of Austin; or 215 miles southwest of Houston; or 293 miles south southwest of Dallas. All distances are measured straight-line "as the crow flies".

BACKGROUND: The present owner and other family members bought this ranch in 1996. The ranch has been and still is operated as a livestock, hunting and recreation ranch under the careful supervision of the owner.

METHOD OF SALE: The Owners (Sellers) have given Thornton Ranch Sales exclusive authorization to market this ranch. The Owners will convey the property by a General Warranty Deed, provide a standard Owner's Policy of Title Insurance, and provide a survey of the property dated December 19, 1995.

DESCRIPTION: A fine South Texas ranch with easy access, excellent tree cover, a large seasonal creek, two water wells, two dirt tanks, wildlife, tons of character, significant oil and gas production, minerals and many more attributes often sought by prospective buyers. Specifics include: About three miles of State Highway frontage, one mile of county road frontage, one deeper carrizo sand water well equipped with an electric submersible pump, one windmill well, two small earthen tanks/lakes, a large seasonal creek, many potential lake sites, one set of cattle working pens, and low non-deer-proof perimeter fences. There are no road easements through the property and no public roads on any boundary line with exception of the highway and the county road described above. The terrain is level to moderately rolling with elevations varying from 452 to 522 feet above sea level. An excellent internal ranch road system serves all parts of the ranch. Deep rich sandy to sandy loam soil with a heavy tree cover including "bull" mesquite, blackbrush (15-27% protein), guajillo (22% protein), guayacan (18% protein), granjeno (21% protein) and miscellaneous desirable forbes and other brush for which this "big buck" area of South Texas is so famous. Some of the soil is red sand that is ideally suited for bob white quail production. There is just enough prickly pear, cactus and tasijillo to give the ranch character. Several hundred acres of the land is compatible for conversion to food plots for wildlife purposes, improved pasture or cultivation. In summary, the combination of ample existing water, excellent tree, brush and grass cover and the fertile productive soil creates superb wildlife habitat. Additional tank/lake locations are available should you desire to build more or larger lakes. Also the topography is compatible for construction of a 6,000 foot airstrip with very little earthwork. And finally, the mineral situation is most favorable from a buyer's viewpoint as all the executive leasing rights will be conveyed to the buyer along with 50% of the royalty now owned by the Seller. Fortunately, the oil wells are concentrated in a relatively small area in the east part of the ranch, thus disturbance from oil production related activities is minimal. All factors considered, this ranch is a winner!!!!!

WILDLIFE, HUNTING, RECREATION: This ranch has a good population of whitetail deer, turkey, quail, dove, hogs (both feral and javelina), coyotes, bobcats, fox and miscellaneous birds, coons, rabbits, and small wildlife. Whether you are a bow hunter, deer hunter, quail hunter, dove hunter, turkey hunter, duck hunter, fisherman, photographer, birdwatcher, outdoorsman, or observer of nature, the wildlife, plant life and insect life on this unique ranch will keep you challenged and entertained. Also, activities such as hiking, exploring, camping, nature walks, nature studies, or just plain relaxing on this pretty ranch are there for your pleasure.

MINERALS: It is believed the Owner owns all of the minerals and executive leasing rights and approximately one-half the royalty interest. All of the minerals, executive leasing rights and mineral interest owned by the Owner (Seller) will be conveyed to the buyer subject to Seller's reservation of a 50% participating royalty interest in all royalty owned by the Seller. The minerals are presently leased and are being held by production that has existed on the property for many years. Specifically, there are six operating oil/gas wells producing from the Edwards Lime formation (between 5,000 and 6,000 feet deep) in which the Owner has 7.426949 % royalty in three wells and 1.85673700% royalty in the other three wells. To the best of this broker's knowledge, the Edwards Lime is a long life oil producing formation and said six wells have a probable remaining economic life of 10-15 years. Additionally, there is one oil/gas well that is producing from the Austin Chalk formation in which the Owner has a 4.878290% royalty. Said chalk well was drilled in 1994, and is still producing 25-30 barrels of oil per day. As of November 2001, the Owner's monthly royalty check is averaging about $2,000.00 per month or $24,000.00 per year.

IMPROVEMENTS: One electric submersible pump equipped water well, one windmill well, and one old oil well that is cased but not completed or equipped for water production, two tanks/lakes, low perimeter fences and cross fences, a good internal road system and electricity. There is also a double-wide pre-manufactured home that is available for sale over and above the sale price of the property if a buyer should be interested. Telephone service is available.

TAXES: Total annual ad valorem taxes (school, county and oil/gas) for calendar year 2001 were $2,290.49 or $1.51 per acre. Said taxes are based on current agricultural use status. The property will be conveyed to the buyer with the agricultural use designation in effect.

POSSESSION: Possession will be given at closing and funding subject only to a Grazing Lease with a neighboring rancher. Said Grazing Lease can be terminated by Seller upon 60 days notice in the event a Contract of Sale of the property is executed and placed in escrow.

PRICE: $1,330,455.00* ($875.00 per acre)

* Price to be adjusted based on the total number of surveyed acres conveyed by a General Warranty deed multiplied by the price per acre agreed upon by Seller and Buyer. This price does not include any personal property, equipment or livestock.

TERMS: All cash at closing. (Note: If the buyer should need financing, money is readily available to qualified borrowers from the Southwest Texas Agricultural Credit Association or Bank of America-Private Bank. Consult broker for details).

BROKER COMMENTS AND MISCELLANEOUS INFORMATION: This ranch is a buying opportunity because of its prime location within a one hour drive of San Antonio, superb tree cover, outstanding wildlife habitat, easy highway access, excellent carrizo sand underground water, and the Seller's willingness to convey all the minerals and a portion of the producing royalty. Better hurry on this one!!!!!

ADJACENT LAND AVAILABLE: Adjacent land in the form of a 99.21 acre "out tract" located as shown on the topographic map attached as the last page of this sale brochure is also available for sale. Consult broker for details.

SHOWING COORDINATION: This ranch is available for inspection seven days a week by prior appointment only. CALL: Len Thornton (210) 656-1955 at any time for showing coordination, service and support. Or you may contact me via E-Mail at: len@thorntonranchsales.com

NOTE: This offering is made subject to prior sale, change of price, or withdrawal from the market at any time. The information contained herein is from sources deemed reliable but is not warranted or guaranteed by Thornton Ranch Sales.

For more information on this property see our Invitation to Buyers.

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