Family members recently received an oil & gas lease in the mail. Included was a memo outlining our small interest in property in Borden County Texas, and terms outlining the location and mineral acres of the property. Enclosed with the documents was a bank draft for $9000.00 for a three year term.
Being unaware that we even held a mineral interest, the family felt that the bonus money was generous and sufficient. Also enclosed was the lease and instructions for us to sign the papers, have them notarized, and take the lease and draft to our bank for collection. (Which we did).
Upon the expiration of the 30 banking days outlined in the draft, we each (4 of us) received a check for $1300.00 and an apology for the "miscalculation" of the offer amount.
Although we understand the division numbers, we were told (by the landman) that the $9000.00 figure was correct for the amount of property being sought. This was when we called to make sure the offer was legitimate.
If the agreement was for $9000.00, the draft was for $9000.00 and the figures were verbally confirmed with the landman, do we think we have any chance of the court's ordering the oil company to honor their initial offer and bank draft? (We have not cashed the $1300.00 check).
Can the oil company say "oops" our mistake, and expect that we accept the lesser amount?