Estimating Value of DeSoto Mineral Rights Based On Purchase Offer

In 2008, my sister and I each inherited 10 acres of mineral rights from our father – S: 32, T: 12N, R: 14W (Spider Field).

Recently I received an offer to purchase my 10 acres for $97,500. My sister received the same offer for hers.

We also recently inherited another 10 acres each from our mother and are in the process of transferring ownership.

Given that a company is, in effect, offering $195,000 ($97,500 X 2) for these 20 acres, obviously they see it worth far more to make a profit. We are also receiving royalties from Comstock on a cross-unit well. 

Having said that:

1. What would be a fair estimate as to the true value of the property relevant to the offer we've received? Double? Triple? More? 

2. In May we received a Pre-Application Notice, and in June a Hearing Application to Comstock's intentions to drill 5 new cross unit wells, 4 of which extend into our property. Is there a common timeline as to when they'd start drilling relevant to these notices?

We don't intend to sell, by the way. Thanks in advance for any wisdom you can impart!

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Thank you!

To your last sentence, so if a well has been permitted it has a serial number, I'm guessing.

You will see the serial number when the permit appears in your SONRIS search.

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