Good Call Tim… yes don’t wait 40 years to sell … And if they are coming to you with offers- probably not a dry hole.. maybe back in the day when the technology was not there to find it, but now there is…Tim you need to not read into my response that much guy! Read it for the simple text that is there… in OTHER simpler words so you may understand me, don’t RUSH to sell for what seems to be a BIG dollar amount when you might make more in the long run… and if you look at this guy’s picture he doesn’t look that old so he has some time. Negotiate right, get a good lawyer and make it earn income for you if it can. Tim’s guy who waited 40 years sounds greedy and was possibly waiting for a large lease amount or something… the story doesn’t add up. We have had offers as you and have not even waited that long… maybe a year and now the offer is a good one, of course we are not greedy as some people have become. If you’re too greedy the oil companies will pass you by… probably the case for the 40 year waiting guy… they could have blackballed him… I have heard of this through a friend of mine who buys leases for the big oil companies… And to address Tim’s whims on the 40K a month… I know of a few that are that big, and there is probably some that are out there that I don’t know of… As for ours… Tim… 40K a month don’t sound right to you… ? We have half of that.. so don’t scoff at the figures until you have seen them on paper! Heck I’ve seen a signing bonus for 900K+.. course the guy had some good acreage, under 800 acres… I know of one well in particular within 2 miles of our land that brings around 800 barrels a day… you do the math on that at roughly $75 a barrel and 25% RI and what do you get Tim? I wouldn’t jump right on a 1 million sell when I could save some for my family and kids to come by not being greedy… Ultimately know your case and only sell or lease when you are comfortable and know what is going on. I’m sure Tim would agree with that.
Tim Metz said: They just had a local auction where mineral right were sold. The guy that owned them didn’t sell them for that 1 million dollars and instead waited the 40 years he owned them for someone to start paying him that 40K a month, they were selling them cause he died, that’s right never sell who needs a million.
There are 2 sides to everything and if you think they all will make you 40K a month, I have a lot of minerals I’d sell you. They are not all 20 year barn burners and some are dry hole.