Oil Shale Mining Claims Conversion Act

Oil Shale Mining Claims Conversion Act - Prohibits the issuance of an oil shale mining claims patent after February 5, 1987, for any claim located prior to enactment of the Mineral Leasing Act of 1920. (Exempts patent applications which had been filed and fully complied with by such date.)

Requires the owners of valid oil shale mining claims located pursuant to the General Mining Law of 1872 prior to enactment of the Mineral Leasing Act of 1920, to make specified elections within 180 days after enactment of this act or be conclusively deemed to have abandoned the oil shale claim. States that claim holders who are required to make an election may elect to either: (1) convert such claim to a lease; or (2) maintain the claim by compliance with Federal mining laws and this Act. Outlines the requirements of each election.

Requires lease or claim holders under either election to reclaim such sites and to post bond to guarantee such reclamation before the site is distributed. Includes within such requirement any person holding a lease issued or readjusted pursuant to specified law after the date of enactment of this Act.