It turns out I have inherited mineral rights (that I was unaware of) on a very small piece of property in Garfield County, Colorado. There are several wells near and I (along with other heirs) am being asked to sign a lease beginning in 1988! That is how long the gas wells have been producing. The proposed royalty is 18% and I will get a few thousand dollars from the suspense fund and small continuing royalties. A few questions:
1. Should interest be paid on these suspended funds?
2. How can I verify the funds held in suspense are accurately calculated?
3. Is 18% a fair royalty?
4. Am I even obligated to sign a lease starting back in 1988 (a three year lease, continuing past 3 years as long as gas is produced) or can I demand a working interest share?