Cooke County, Texas lease of oil, gas and mineral rights

General Mineral Rights Discussion
1

Hi, I'm new but I have questions.

Far-flung members of my family (from Florida to Oregon) have been contacted by a Landman in Tyler, Texas, asking us to sign an Oil, Gas and Mineral Lease with the proposed terms:

3 year Paid Up Lease; 15% royalty: $250 per net mineral acre bonus for signing; three year option to extend for an additional $250 per net....

He is representing the oil company and we don't know which one it is. Do we care?

Included in the documents we are to sign is and Order of Payment form. And we are told we will receive our check within 30 business days after they receive our executed documents.

We have talked to the Landman and he seems very nice but is he telling us all we need to know? And are we being paid a reasonable amount?

2

Of course he's not telling you all you need to know. He's not there to educate you. He just wants your signature so you can be paid less than a reasonable amount. He will, then, return to the crevice from where he came. (Landmen friends and acquaintances excluded.)

Good luck,

Pat