First, I made an error, it’s in Section 4, not 9. As per your information, the Mineral Lease evidently has every item I don’t want and none of the items I do want. Not signing it. The Well Proposal letter has 6 participation Options. The agreement states that “if I elect to participate under this letter, I must also elect in writing to participate pursuant to the terms of the Force Pooling Order to issue.”
- Therefore, why sign it, if they can ultimately have the choice between what I choose and the Pooling Order? They obviously will take the one they want anyway, especially since I want the highest participation %.
- Also, the options are stated as “net revenue interest”. I assume it would be best to have “gross”?
An oil drilling company wants to place a pad on my land. They want to “lease” it. I get the tax ramification vs the two, but that’s it. Any info would be appreciated.
Thank you so much!