My cousins and I have been contacted by Basin Oil & Gas with a lease offer (Gaines County, league 317) of $250/net mineral acre for 3 years and $250/net mineral acre for an option to extend by two years. They are offering a 20% royalty. Each of us only own a very small portion of the mineral rights (.0006+) of a 4400 acre tract. Can anyone tell me if this is fair?