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We  need information cocerning the fair market value of oil and gas lease in fayette county tx.  Many  people in this area are quick to sign their land for $200.00 per acre for 3 years with the leaser having the option to continue the lease for another $200.00 for the next 2 years.  We're asking is this a fair market value and is the length of time (5 yrs) is too long to tie up the  land.  A .187 royality is also being offered should there be any drilling.  We were told by our family lawyer to hold off as the activity in Fayette county will pick up alot during the next 5 years. We are located in Schulenburg,Tx.

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We have not received this offer from this company, however, we are working with Penn virginia right now on a block of 700 continuous acres, exact area you are talking about....mostly in Lavaca county but some in Fayette right on the county line on right side of 1295.  $1000/$500 3/2 25%. Little delay since this started working right before Harvey, and they are in Houston...but they are still working on it

Has Tri-C actually drilled anywhere around here ?  what type of well are they considering to drill ?

I haven't done enough research yet to know what the have or haven't drilled. Supposedly it Eagleford well, not chalk.


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