This group has been pretty quiet lately and maybe that's reflective of the oil & gas business in the area? I'm remembering back to March when I received a call from Montana Oil Properties with a standard initial offering for a top lease - $100/acre, 15% royalty. When I asked if they could do any better on the bonus I was told he would get back to me, but I've never heard a peep. Maybe I should have taken the offer? Maybe they got cold feet for some reason. Perhaps he changed his mind when he learned I'm not the sole owner of two sections, but only hold 80 net acres. There was a grand idea involving test holes and wildcatting, and now I'm sitting here guessing what happened. I should have called him back months ago, but didn't want to look desperate and now my initial lease has expired and it's kinda late.
Now I'm wondering if I should reach out to a different outfit, and if anybody out there has had success doing so. It seems that the standard procedure is for the oil & gas people to reach out to the mineral owners. Have any of you had any luck contacting the companies directly?
Living out of state I read on line about how Richland Co. is busy - maybe I should be more patient and hope drilling will migrate south. I have heard of some wells in the Bloomfield area that are doing pretty well and that adds to my hopefulness. I know there's a new hotel in Glendive which should be a good sign too. I have a couple of informants locally, but it seems like I learn more here on this site.
Let me know your thoughts - what would you do at this point? Call MOP back, contact some other outfits, sit back and be patient, or go buy a lottery ticket?