Learning how to successfully buy and sell petroleum property through trial and error is a costly lesson. In this text, seasoned veteran Jim Haag Imparts readers of both sides of petroleum property translations his 15 years experience in the discipline. Addressing the acquisition and divesitiure of individual producing of discovered non-producing assets Haag, in step-by-step fashion covers the entire process so readers will understand each step, know where that step fits in the overall transaction, and anticipate what will happen next. Fretures & Benefits: case histories show how the author's guidelines are applied in working transaction proposals. "Lessons Learned" chapter summarizes for readers how they can avoid common mistakes.