Lease extension terms - should they be better

JN -

With an original lease date of Feb 2021, and you say it was a 5 year lease with a 2 year option, and Comstock paid the option, then you are still covered under the 2021 lease. I cannot answer your question without knowing if the 2021 lease and all option periods have expired. On the other hand, a company who has the right to extend the lease under an option clause usually does not contact the mineral owners to sign a new lease unless, of course, the lease terms and all option periods have expired. They would simply send you a draft/check for the option period and you might not even get a letter or other notice of exercise of option. Why don’t you get in touch with the Comstock landman and ask him exactly what Comstock considers the situation with your lease to be? Then, if you need assistance with a new lease, certainly reach out for legal assistance.

Phil

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