What is the target?

I came across an interesting lease in southern Sabine County.  It is between Blackstone and Endeavor.  It  says "insofar as to the Austin Chalk formation". Does that mean it leases to the top of the Austin Chalk or through the Austin Chalk formation? 

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Permalink Reply by Ben Elmore on June 6, 2011 at 9:05
The language limits the lease to 100' below the Austin Chalk formation, so it covers all depths down to and through 100' below that chalk.
Permalink Reply by Joe King on November 3, 2011 at 12:08
I have been approached in southern Sabine County about a well below Austin Chalk, from Endeavor. What should I ask for in royalities. Just curious what you all think?
Permalink Reply by Ben Elmore on November 6, 2011 at 5:54
Ask for a quarter but my guess is the most they will offer is 1/5th. See if they will split the baby.

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