Compass Land Resources offer on Pottawatomie 4-9N-5E

Donald B. Megahan · 2017-09-22T22:56:35Z

Hello all! Does anyone have any information on Compass Land Resources or Circle 9 Resources? I just received a proposal letter from Compass Land Resources asking me to lease my mineral interests to Circle 9 Resources for the purpose of drilling a test well. Also, what is a reasonable offer on this section? Seems to me the proposal is unusually low and for an unusually longer time period. Here are the details: 1. 1/8 royalty, bonus of $125 NMA for a 3-year term with a 2-year extension option 2. 3/16 royalty, bonus of $75 NMA for a 3-year term with a 2-year extension option 3. Participation on a per-share basis I am not inclined to accept such a long-term offer for a test well. Thoughts?

Oklahoma Mineral Rights Pottowatomie County, OK