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Okla. Tribe Mineral Shareholders Considering Pact (Aug 19, 2011)

PAWHUSKA, Okla. (AP) - Osage Nation members who own shares of the tribe's mineral estate in oil-rich Osage County may be dividing $380 million in the settlement of a trust case against the federal government.

The Osage Minerals Council voted Wednesday for preliminary approval of the agreement.

U.S. Court of Federal Claims Judge Emily Hewitt last year found the Bureau of Indian Affairs grossly mismanaged Osage oil and gas money between 1972 and 2000. She issued a $330 million judgment.

Attorney Wilson Pipestem said the judgment wasn't a sure bet because if could be appealed. Pipestem says the proposed pact probably will end another case involving claims prior to 1972 that's set for 2012.

The Tulsa World reports that if shareholders OK the settlement, they'll receive checks by Dec. 5.

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Information from the Tulsa World was used in this report.



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