Patent ID: 6658460
Filing Date: 2003-12-02
Classification: G06Q

Abstract:
A computer based system for evaluating particular natural resource property, which includes:a remotely located client computer based device having means for remote communication and software means for generating an Evaluation Request corresponding to a particular natural resource property wherein said natural resource property is characterized to be one of an oil and gas property; a local computer based device having means for remote communication having evaluating and controlling software thereon which is responsive to said Evaluation Request of said remotely located client computer based device, whereupon said Evaluation Request said local computer based device initiates a Due Diligence application, said Due Diligence application includes software means for generating a GET Request corresponding to a predetermined characteristic data for said particular natural resource property from at least one of a remote database and local database, said predetermined characteristic data selected from payout calculations, preferential rights, depth reservations, depth restrictions, seller retention rights, state/federal/tribal bonding approvals, state/federal/tribunal assignments approval, environmental assessments, liens, undeveloped acreage, untested zones, deep potential, seismic activity, title evaluations, working interest, net revenue interest, overriding interest, known production history, verification of production, existing valuations and encumbering legislation; and further having software means for receiving and manipulating said predetermined characteristic data and assigning a predetermined weighting factor corresponding thereto and generating at least one of a Determinative Evaluation Report and a valuation/purchase feasibility graph indicative of said natural resource's value based upon combining said assigned predetermined weighting factors.