Not sure what this means, Co. X proposes to drill Horizontal well, in accordance with OK Bill #867, and will be filing pooling app. Offer in letter has 4 options: 1) "Pay your share of costs by due date", 2)Lease or Assign interest to Company X, bonus of $1,100/acre and deliver to Company X 87.50%(1/8) net revenue. Options 3 & 4 are same except 81.25% (3/16), $500/acre , 80.00% (1/5) net revenue. This section is not leased at this time as far as we know it was inherieted many years ago.
Please give me a call at 405-■■■■■■■■ and I can walk you through this.