Hi Mark,
Leases can be taken separately from undivided mineral owners in the same parcel. Your combined 37%, however, would likely discourage an oil company from drilling on that parcel, as the oil company would be required to treat you as a working interest owner, meaning that you share in profits (after they obtain their full return on initial investment).
There are a lot of speculators out there right now. We’re seeing offers come and go in Kings County. Hold on and someone should show back up with another lease offer.
Good luck!