My family is being approached regarding a lease in Franklin Co. MS. The entity seeking the lease wants "60-100 sq miles" under lease for seismic work only initially. They are offering $50/acre for 2 years, no drilling to be done during that time but they would have an option to lease any of this they subsequently wanted for $125/acre for 3 years after seismic done. 1/4 royalty on Wilcox, 3/16 on anything deeper. My family has approx 2600 acres minerals in the lease area.The landperson tells me they are looking at Tuscaloosa. The company apparently has a "lot of offshore experience". Any ideas as to whether this is TMS related and who the company might be? I know people on here in a lot of other locations are further along in the process and we would like to learn from your experience. Thanks for any help/advice.

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thats actually a pretty good offer for franklin county... try to get the deeper royalty up a little to at leaset 1/5

Jim,

As I told you before, I don't like tying the seismic permit to an option to lease. In my case I would sign a seismic permit but not an option. Just my opinion.

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