I received a call last month, from a oil and gas company, Justiss Oil, from Jena, LA. I was asked if I was interested in leasing my 20 acres in the Rocky Mount area? I told Mr. Dixon, would certainly look at a offer. I received a lease agreement in the mail, for $200 per acre, and 1/16 th royalties. Has anyone else had any similar offers?
You sure that isn't 3/16 royalty.
Yes Sir, that's that's exactly how its written in the lease.
It maybe a typo error. Even the old Bath Forms from back in the 1930 provided for 1/8 royalty.