I don't know anything about mineral rights etc.  I just received a letter to sign an oil and gas lease for Sabine Oil and Gas Corp wants to lease my mineral interest.  The letter is from Monument Resources.  I have 0.46838 Net Mineral Acres Access of approx 120.28 gross acres of land.  

The particulars are:

3 year lease

3/16 Royalty

Bonus payment of $300 per net mineral acre equaling $140.51

Is this a good deal?  Thanks for any info you can provide.

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PS:   The land is the E.W. Gibbs Survey, A-229, Panola County Texas

Is Monument Resources leasing on behalf of Sabine?  I'd ask.  It's not a great offer but with less than a half mineral acre, your negotiating position is poor.  The royalty is the more important lease term.  I would ask for a one fifth royalty (20%) and I would forgo the bonus if I had to to get it.  If Monument Resources is not representing Sabine, I'd pass and wait hoping that as time to develop rolls around Sabine would make a somewhat better offer.  Al of Panola County is good rock and should see full development.

Yes, Monument Resources is requesting leasing on Sabine's behalf.   Thank you Skip for your valuable insight.

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