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Buyer Registration

• Online Auction Bidder Registration
• Obtaining a Client Number and Bidder Number
• Submitting a Bank Letter Guaranteeing Payment

Online Auction Bidder Registration & Catalog Viewing

All registrations for online bidding will need to go to www.proxibid.com/midwest and click on the “Register” link for the current online oil & gas auction.  New users must create their own username and password in order to register and receive a bidder number.  Once an account with Proxibid has been created, bidders can register for any future auction using that account and will only have to accept the terms and conditions when logging in to participate in future online auctions.  Currently a Bank Letter of Credit is NOT required in order to register as an online bidder.  The Bank Letter of Credit will be necessary ONLY if paying by personal or company check at closing.  Payment may also be made by wire transfer or cashier’s check.  Payment must be received in full within 48 hours from the close of the auction unless otherwise specified or agreed upon by Midwest Energy Auction.

Additionally you are NOT required to register as a bidder or create a login account in order to simply view online catalogs with Midwest Energy Auction.  Step by step directions and descriptions of how to view our online catalogs and register with Proxibid are included in the document titled “ONLINE CATALOG & BIDDER REGISTRATION PROCESS” located on this page.

ONLINE CATALOG & BIDDER REGISTRATION PROCESS

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Obtaining a Client Number and Bidder Number

Please complete the Application for a Client Number and fax it to Midwest Energy Auction at 888.722.6380, or email it for approval. After obtaining a Client Number, interested parties must pre-register with Midwest Energy Auction and be approved as a bidder for each auction event. Please note that the same form is used for obtaining a Client Number and Bidder Number, although certain portions of the form need not be completed by any entity that has already participated in a Midwest Energy Auction event and currently has a Client Number.

IMPORTANT: The Entity Name should be filled out exactly as you plan to take record title to any properties purchased. If you plan to purchase properties in more than one entity name, you must register each entity separately.

Once a Bidder has completed and faxed signed copies of the Qualified Bidder Registration Form, Midwest Energy Auction will review all registration materials, including your bank letter guaranteeing payment. If approved, you will be activated for the online auction in which you have expressed interest. You may then join the auction by logging onto our online auction provider, Proxibid.com.

Qualified Registered Bidder Application

Midwest Energy Auction, LLC reserves the right, at its sole discretion, to not approve any or all registration applications and to refuse any party access to bid on a property or properties for any reason whatsoever.

Midwest Energy Auction’s online and any written materials associated therewith are not a public offering. The use of this Website is intended only by selected parties who are knowledgeable, sophisticated and actively engaged in the oil and gas business, and are fully aware of the risks and liabilities inherent with the ownership of oil and gas properties. The information contained herein does not constitute an offer or solicitation to purchase or offer, or solicitation to sell to any person in the state of Nebraska, or in any other state where the laws of such a state prohibit such offers, or in which Midwest Energy Auction, LLC is not a broker-dealer. To the extent required by state law, some potential bidders may be required to be "accredited investors."

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Submitting a Bank Letter

A bank letter (on bank letterhead) is required for all bidders paying by check or wire transfer. Bank letter(s) must be delivered to Midwest Energy Auction, LLC prior to receiving registration approval and being activated as a bidder.

A bank letter must (Click here for Sample Bank Letter):

• identify the name of the entity taking title;
• provide the banking information required on the Bidder Registration form;
• include a statement from the bank that it will guarantee payment (either by bank guarantee or irrevocable letter of credit) on any check presented to Midwest Energy Auction, LLC up to a specified dollar amount (the maximum amount of your anticipated purchases at the sale);
• define the time period the check will be honored -not less than ten (10) days after the sale.

NOTE: Payment by cashier's check does not require a bank letter.

After approval you are ready to join the auction. Remember, however, that separate registrations with unique User Name and Passwords must be received for each entity registered. Thank you for your participation in Midwest Energy Auction, LLC's Auction Events.

NOTE: Payment by cashier's check does not require a bank letter.

After approval you are ready to join the auction. Remember, however, that separate registrations with unique User Name and Passwords must be received for each entity registered. Thank you for your participation in Midwest Energy Auction, LLC's Auction Events.

NOTE: Midwest Energy Auction’s online auction is not a public auction, but rather is limited solely to accredited investors approved at the sole discretion of Midwest Energy Auction.

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