Jim, I agree with what RW said, and I would contact other oil companies active in the area to see what their interest might be. Nothing gets a better bid than competition. I don't know where your land is, but the standard in west Texas is a bonus for a 3 year lease that will pay 25% royalty if they dig a commercially feasible well. Just because they had a lease and didn't dig one, is the reason i would think twice of giving them the second opportunity. I do not understand your numbers to comment on what did happen, but work on this time around and you will be happier.