Dennis

Dennis that is way way low. I'd just keep saying no untill the offers get much better. you are right in the middle of a big play. Cpk is all over the west side of the lake and devon is buying up center and there are about 20 other companies hungry that in there too. I know its tough to wait. cause its a lot of money but you'd be leaving a lot of money on the table. You cant expect the small companies to pay the big bucks. If their first offer isnt 25% royalty then they arent serious, they are trying to steal it from you. Offers west of center at $8000. are being turned down. Which company is making this offer. With 2 big players on either side of you, you are in the right spot. You can contact colleeen at 936-591-4757 she is our closest contact to you. Whatever you decide to sign for make sure you dont sign a standard lease. It will cost you tens of thousands of dollars in royalty.

Dennis,
Shelby county lease royalties were going for $5000 and up two months ago. Heard this from an extremely reliable source. Consider $15,000-$25,000 as a range.
Do not sign anything to soon. The situation changes daily.

Dennis, unfortunately there are a lot of people who are in that boat with you.  There is not much I can recommend other than hiring an attorney.  You should send a demand letter, at the very least.   Joining the Texas Land & Mineral Owners Association might get you some better advice.  I would suggest, also, that you friend Ben Elmore on this site and talk to him about the situation.  He is a certified O&G atty.

http://www.tlma.org/                 

http://www.gohaynesvilleshale.com/profile/BenElmore?xg_source=profi...