Bartz Oil Copmany $($Bartz$)$ paid $$98,000$ for a reconnaissance survey in the Plenty Basin during the first quarter of $2019.$ As a result of this broad exploration study, on June $1,2019,$ Bartz acquired the shooting rights on $10,000$ acres at a cost of $$1\mathrm{.}00/$acre combined with an option to lease for a total of $$400,000$ from Tom Green. On January $23,2020$ Bartz leased $5,000$ acres from Tom Green, Lease A$.$ Bartz also leased $7,000$ acres from Sarah Chase, Lease B on January $23,2020.$ The lease bonus for Lease A was $$150$ per acre and the lease bonus for Lease B was $$165$ per acre.