We have received an offer for a lease in Jones County, Texas, Section 72. The terms are $150 per nma, 3/16 royalties, 3-year with option for 2-year extension. Has anyone else received offers in this section?
I cannot comment on the amount, but I would not agree to a two year extension. I would ask for a higher royalty and get some legal advice for the lease.
Can you provide a more specific legal description? There are several Section 72s in Jones County. One just north of Hamlin (SP RR Co survey) Abstracts 1656 and 1560; one northeast of Anson (BBB&C RR Co Survey) Abstracts 1121, 1577, and 1723; and two Section 72s in southeast Jones County, south of Lake Ft. Phantom, one in Block 14 and the other A-169.
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