Lease offer in J Hamilton Survey

Friends - after many years of being unleased, I received a lease offer last week for our modest 30 acres in north Cherokee, J. Hamilton survey A-23.  A little research on your site and Tx RRC has uncovered some activity in the area and what appears to be impressive results about 1 mile away with 07331537 Wilkinson McElroy - (same operator).  Any thoughts on what the counter offer should be?  Offer was $200/acre 3/16 3 year + 2 year option.  Or should I just hold out?  This was my dad's favorite place...just want to do right by him as best as possible.  Many thanks.

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on February 1, 2016 at 12:53

Did the offer come in the mail or by phone or personal contact?

Permalink Reply by Cuazy on February 1, 2016 at 13:10
Thanks for the response. I received a call and then email of the proposed lease. Any advice is appreciate. Thank you

Oil & Gas ProPermalink Reply by Paul Butler on February 1, 2016 at 13:16

In the next survey over, A recently completed well came in "Race Horse" style.  

See G-1 and G-5 attached hereto.

11 million cubic feet per day and 500 barrels+ of condensate.

That's a ridiculously low offer, suggesting bad faith.

Tell them to have their Dad call with real money. 

Here is the RRC map viewer link:http://wwwgisp.rrc.texas.gov/GISViewer2/

Good luck.

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Permalink Reply by Cuazy on February 1, 2016 at 13:34
Thank you very much for the reply..."have their dad call with a real offer" made me laugh uncontrollably! I like your style.

Oil & Gas ProPermalink Reply by Paul Butler on February 1, 2016 at 13:37

10-4

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