I own the minerals and surface rights to land in Lincoln County at 20-16-5. I recently received a permit request from Goldstar Land Services on behalf of White Star Petroleum. If I'm reading it correctly, they are offering 10.00/acre as payment. What does really mean to me ? Surely they are surveying more in the county than just my land. I don't see a beginning or ending date, so I guess it just goes on forever.
Anyway, any thoughts or advice would be appreciated.
Thank You,
Barry
Barry,
This could be good news for you. Geologists have indications that there are some promising geologic structures deep in the subsurface in your area. Seismic surveys are an inexpensive method of finding the location of the structures. You may want to encourage the survey. They may want to have the right to drive seismic trucks across your land in the process. Consider the payment a lump sum for the inconvenience you may suffer. It is your job to insure protection against any crop or environmental damage that may be done, to allow access in only the times that suit your use of the surface, an end date for the rights, and most importantly, that there are no residual rights, contractual or implied, to explore by any other means ever.
Mark up the permit to suit your needs and protection before signing or accepting payment. Send a PM if you have doubts. Colorado is my native home as well.
Gary L Hutchinson
Minerals Managment