Charles has provided very good information. I would like to add that if you are a non-executive holder, you should get a copy of the lease and make sure if you are signing any ratification that they are not changing any terms as provided by the original lease. The biggest red flag I know to watch for is when there is an old lease that does not give the right to pool, and the non-executive interest holders are asked to ratify an amendment to the lease authorizing the operator to pool. This needs careful study and review before signing. Sometimes it can work for your benefit and sometimes it will not.