That is correct. Look at your 1972 lease. If you have production from a current well that is economic, then they can hold you by the terms of your previous lease. The Sweeney 24-2 well is still online. Sweeney 24-1, maybe not. Which one did you get royalties from?
A top lease is when you negotiate a new lease before your old lease expires and it will take effect as soon as the old lease expires due to lack of production. It is a time thing, not a depth or area thing.
There is a lot of these kind of offers going on right now. Most of them are a leasing agent wanting to lease at a certain rate but only paying you 10% of the bonus upfront. They get enough mineral owners to front them and then they hire an attorney to try to break the old lease. You may not be successful and may never see the other 90% and are still stuck with the old lease. I would be suspicious of a cold call attorney offering to do that. You would be paying that money up front.
Cimarex has two wells planned in that section. Sweeney 8-24H which will be drilled on the far east side of the section. Permit to the Woodford. Carel 1H-2524X spuds in 36 and drills north into 25 and then 24. Targets are Mississippian and Woodford. You should be getting all the paper work for these wells and the increased density order that just came out. (hence the interest by the lawyer......) You have 36.6 BCF and 7.5 million bbls oil left.
Sometimes those old 1/8th leases with gross production language are better than the new leases that are trying to charge post production charges.