Please help. A landman is really wanting us to sign a contract.

I would so appreciate any help ya'll have to offer.
Last summer I found out I had mineral rights. I'm not a surface land owner, but inherited these minerals. I turned the land man down last summer, (he lied several times to me).

Another landman is calling saying they are ready to drill in two weeks. Like many of you, I would have liked to have waited until the ecomony improved a bit as the bonus prices are just so low. The good thing is they are now telling us to come up with something. I doubt they will want to give us the bonus we want. (or as someone else said the pay off for 75% of your gas)

He first got a hold of my mil and told her they would give us 3200 for our 6.5 . acres. Last summer they started out offering 200 and acre, before I was clued in to the Haynesville Shale, (telling us it was 150 acres. Leaving out the net which amounts to 6.5. Then when I found out about the Haynesville Shale and this new technology, they went up to 9,765 for the whole thing but only 1/5 royalty. I see everyone here is pushing for 1/4.

They had me paying for everything.
Our minerals are in Shelby county. I was just wanting to wait to see what the first Haynesville wells are producing there. I think the first one's in Shelby are just starting to produce. I'm posting in the main section so more people can see this.

My husband printed off a copy of Kassi's mineral documents. THANK YOU KASSI! We thank God for you!
Oh...and my sister (executrix) has not even finalized the will. So I don't know if I could legally sign something at this point anyway. I have no title of ownership in my hand. She went to court a few summers ago but it's still not wrapped up. The landmand is saying their attorneys say it's okay for me to sign.
I don't know what to do!

I wrote this post out an hour ago, sitting on it so I could go over and look at the Texas Railroad Commissions site....in the mean time we got another call from the landmand saying he drove up here! I don't know what I'm doing. And I don't want to be ripped off.

He told my husband on the phone the day before yesterday that he could drive up here, his company said he could but he never said he WAS driving up here. We are trying to celebrate my daugthers 2nd birthday today.

Any advice on what I need to do other then crafting our own contract from Kassi's mineral documents? We have spent so much money on attorney's's, funeral, you name it. I just wasn't sure I should spend the money on an oil and gas attorney for just this little 6.51 acres. The landman said there are only two people who haven't signed and one is me and one is a lady in England with 1/10th an acre.

Thanks for any advice on how to handle this. I am not an experienced negotioator. Oh, and I'm sure he's probably on his lap top reading this post about now. ugh!

I've looked at the TRRC's site before, not sure what to look for. Does it matter? They are ready to drill now and we have been placed in this unit. If we don't sign anything do we get left out or are we still in the unit? I know I should have been doing more research on this but I've been researching how to fight this lyme disease I now have. Plus I homeschool my four kids and have to keep up with this home. I've just been putting it off until the economy gets better.

Oh one important question....if we don't sign now...does that mean they have rights to Cotton Valley or whatever else is in the area where my minerals lie?

One more thing. Les B told me last summer, it looks like the well was spudded back in 2000, it produced a month then was recompleted a month later in the Stockman Field.
He told me how much it had produced as of last July...and said they may owe me 10k in past royalties. I need to find out about that and if it's mine, need to make sure it's in the contract. Thanks for reading my long ramble.

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Hi Tommy,

If you go up to the top of the page you'll see a lot of tabs. Click on Media. Then click on helpful docs.
There is where you'll find Kassi's Mineral leases. It is very helpful. Kassi was so generous in helping everyone with shale interest. So go check it out!
Thank you Sarah for the help. These documents from Kassi are what I was looking for.
Talk to a lawyer or someone who knows the stakeholders interested in lease land in your area, and has a good idea of the $/acre producers had paid previously, now and would expect to pay into the future. Consider giving the producer an option to lease at a bonus higher than the average in the area when commodity prices were high in early 2008. If the producer decide not to exercise the lease option, you keep the cash and move on. Most producers want a large contiguous land position. Also, most lessors don't like to be raising the lease prices for fear of setting pricing precedents. Good luck.
You can get at least 27.5% royalty with a healthy acre bonus. Too many landmen represent oil companies and that is why you see such low 1/8th, 3/16th, or 1/4 royalties. Start at a 35% royalty and let them walk away. They will be back. Everytime!! Just hang in there.

We average 27.5%, so higher royalties are available.

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