Today I received a proposal to drill a "horizontal test well" in the Hunton formation.
The offer requests my selection of four options:
1. Participate in the drilling
2. Lease or assign all your unit interest to __, accepting a bonus consideration of 3k per acre and a 1/8th royalty, delivering an 87.50% new revenue interest or one thousand dollars for your Hunton rights
3&4 are the same language, with 2k bonus, 3/16ths royalty, 81.25% and $667 and 1k bonus, 1/5th, 80.00%, and $334, respectively.
Have other received this offer?
Is this language and offer typical? I don't remember seeing this type of language in other offers.