Thanks for all the feedback Jeffrey. My condolences about your father as well. My two sisters and I met with the company making the offer today. They both signed the papers, but I am waiting until I have a little more information. The man we met with is a landman representing a company that buys mineral rights. Their company is not an oil company. My sister Tanya is the only one who has seen the checks that were sent to my father. She last remembers seeing one in 2014, just before my father passed. She is supposed to call Pantera, the company who last sent checks, tomorrow. She will try to confirm that my father owned the mineral rights to 20 acres. The company that the landman represents will be hiring an attorney to do a title search I think. They will try to verify the number of acres, and the royalty percentage. They have made an offer to each of us based on 20 acres split three ways, at 3/16 royalty (which the landman said was most common). There are provisions in the contract for revising the amount offered pending the results of the title search.
well I would've loved to have a chance to step in their shoes, but it seems like the ship has sailed.
I think you will find the lease that was at 1/8th is held by the Sooner 1-36 well in the SE/4, but only to 9040'. Below that it appears that new leases were executed. So the miss, woodford, etc - would potentially be at a higher royalty.