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Permalink Reply by CBT on September 3, 2008 at 17:58

Hi Rob!

We're in the same boat with you as far as leases go. You emailed "my place" a few days ago and reported $100 per acre w/ $25 lease option. Yea...us too.

I'd advise you to NOT consider selling your rights until you hire a good lease lawyer and get advice. That's what we've done, and there might just be some benefit to holding on. You are very close to the Olympia Mineral Wells which is reported by locals to be an excellent well. We're all waiting on numbers to be released by Sonris, and once they're released, it's just a matter of time before wells will be popping up everywhere in the area. If and when they drill on your land, the money will come to you in royalties when they start producing. We, unfortunately, didn't get in with the recent, nice signing bonuses, but we're more apt to be drilled first, in my opinion, since our leases could expire before being "held by production." IF your lease does expire in the next 2 years, your family will benefit by the signing bonuses of 2 years wiser, 2 years of released oil and gas info, and 2 years more value in land prices per acreage which will no doubt be much higher than the bonuses we're hearing about now. I don't think we can lose!

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