# Leasehold Extension Payment - Tioga County PA
**URL:** https://www.mineralrightsforum.com/t/leasehold-extension-payment-tioga-county-pa/58113
**Category:** Pennsylvania Mineral Rights
**Created:** [July 11, 2020, 3:59pm UTC](https://www.mineralrightsforum.com/t/leasehold-extension-payment-tioga-county-pa/58113 "2020-07-11T15:59:04Z")
**Posts on this page:** 6
**Page:** 1
### Author:  [@hermanjs](https://www.mineralrightsforum.com/u/hermanjs)
#### Post date: [July 11, 2020, 3:59pm UTC](https://www.mineralrightsforum.com/t/leasehold-extension-payment-tioga-county-pa/58113/1 "2020-07-11T15:59:04Z")
Hello,
I received an Amendment and Ratification of Oil and Gas Lease to extend the term of the original lease. They are offering $300 per net mineral acre. #1 Is this a fair amount at this time? #2 What is a net acre? Isn’t an acre an acre?
Thanks for any input.
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### Author:  [@TennisDaze](https://www.mineralrightsforum.com/u/TennisDaze)
#### Post date: [July 12, 2020, 5:11pm UTC](https://www.mineralrightsforum.com/t/leasehold-extension-payment-tioga-county-pa/58113/2 "2020-07-12T17:11:08Z")
If you own 100% of the minerals in a 100 acre tract, then both the gross acreage and the net acres are 100 acres. If your parents owned 100% and had 5 children who each received 1/5, then each child owns 20 net mineral acres out of the 100 acre tract. A lease bonus is always paid on the basis of the net mineral acres which you own. I have no knowledge of lease bonus rates in your area.
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### Author:  [@hermanjs](https://www.mineralrightsforum.com/u/hermanjs)
#### Post date: [July 12, 2020, 6:29pm UTC](https://www.mineralrightsforum.com/t/leasehold-extension-payment-tioga-county-pa/58113/3 "2020-07-12T18:29:46Z")
Thank you for the explanation.
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### Author:  [@rachelvass](https://www.mineralrightsforum.com/u/rachelvass)
#### Post date: [July 14, 2020, 3:28pm UTC](https://www.mineralrightsforum.com/t/leasehold-extension-payment-tioga-county-pa/58113/4 "2020-07-14T15:28:27Z")
Hermanjs,
Before I signed an agreement like this, I would consult a legal professional with experience in the area. There is a chance that they want to amend your original lease terms which might mean that you should ask for more money than a standard renewal.
Also, I would suggest looking at recent development in the area of your lease. If your intent is to have your lease developed, there might be a company that is more likely to develop your property rather than a company that is only interested in perpetually leasing it.
There are a lot of details that are missing in this post, but $300/net mineral acre seems low.
~Rachel
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### Author:  [@hermanjs](https://www.mineralrightsforum.com/u/hermanjs)
#### Post date: [July 14, 2020, 8:33pm UTC](https://www.mineralrightsforum.com/t/leasehold-extension-payment-tioga-county-pa/58113/5 "2020-07-14T20:33:20Z")
Thank you for your input.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [October 9, 2020, 3:59pm UTC](https://www.mineralrightsforum.com/t/leasehold-extension-payment-tioga-county-pa/58113/6 "2020-10-09T15:59:11Z")
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