Received Letter today wanting to buy only OIL interest in 14/14 Desoto
got an offer in mail today offering good money for 10% interest in any OIL well drilled within next 5 yrs. in 14/14 Desoto. This was for oil only & excluded other minerals, so it wasn't about the gas being drilled now
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Replies to This Discussion
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Permalink Reply by Checkmateking on
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Sounds very fishy, I wouldn't touch it.
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Permalink Reply by kittycatmama on
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We are not taking the offer, but it is from a major company who has been buying minerals in this area for several yrs. This offer was for royalty interest --not to buy the minerals and it was limited to a 10% royalty interest in OIL only. This past weekend investors from out of state were going door to door offering top dollar to buy 1/2 minerals in this are but that offer included gas.
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Permalink Reply by Shaleeee on
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Be careful - is that 10 percent of your 25 percent (2.5%) or 10% - leaving you 15%??? It is all in the wording.
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Permalink Reply by Henry on
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Kitycatmama,
Can you tell us what "top dollar" was for 1/2 of someone's minerals? Presumably this was for minerals that are already under lease?
Thanks.
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Permalink Reply by kittycatmama on
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Henry, the offer was for 10% of the 25% bonus (2.5%) and for OIL ONLY. It excluded gas and was $4000 an ac. It was a 5 yr. term only. All royaties revert back to owner in 5 yrs. The oil only was what made me take notice. We are not interested in selling any minerals; however the wording of this was different than any offers we have had to sell minerals.
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Permalink Reply by Checkmateking on
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somthing is very fishy there
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Permalink Reply by Parkdota on
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Kittycatmama........yeah, that's very interesting. I'm guessing you got a letter in the mail. I've been out of town for a week so I'm looking forward to reading over it assuming I got one. This past summer I got offers around $6500/ac for minerals but have heard that top offerings are now around $4,000. There is a very small amount of oil in my CV well so maybe those wells or depths have oil. I'm wondering, though, if the company that sent you this offer knows something we don't?
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Permalink Reply by kittycatmama on
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Parkdota, I think these seismic tests all over 14/14 are telling something. Newest seismic company is coming in next wk. Bet you get the same offer. Our neighbors got it too.
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Permalink Reply by GHS on
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A company offered me $25.00 per acre to do seismic work on my property, is that a good offer. Is it good for them to do these studies?
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Permalink Reply by The_Baron on -
can you scan the offer in and post it, go ahead and black out any personal info.
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Permalink Reply by Checkmateking on
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Without seeing the offer, this just has scam written all over it, 4000 dollars per mineral acre for 2.5% of oil production in an area with very little oil history to my knowledge.
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Permalink Reply by Bob and Lisa on
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Maybe there is more here than we know about, these oil companies always know more than we do. If the offer is being communicated to us correctly, which I'm sure it is, sounds like there could be some oil here. Isn't this how all the gas leasing got started?
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