I was offered $300. for my mineral rights, my leaseis$100. Per acre, it is due for renewal in 2 months, this is southeast of Bonham, apparently fixing to drill. My first blog went totally off track
Hi, Gerald -
If you can send me your legal description, I can look the area up for you and let you know what is going on.
The $300. Is that a per acre price to sell your mineral acres?
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
It is $300. Per acre. He actually came up to $400. I don't have the description handy. But I can get it. It 3 miles East of Bonam, and about 1 mile south..
Please send the description and I would advise that you do not sign anything or even verbally agree to anything until I have had a chance to put some information together for you.
Do you know the Survey or Abstract?
I don't need the legal description after all. I looked at the general area you described and there are no producing oil and gas wells within miles and miles and miles of your lands. There have been a handful of wells drilled in the distant past (so far back I can't access records of them), and all of those were Dry Holes.
In fact, I was not able to find any currently producing wells for all of Fannin County. Only 26 Permits to Drill were filed for Fannin County since 1981 and none of them appear to have ever produced.
If the $400 per acre sounds good to you and you could use the money, then maybe you should take it.
It does not appear to me that you will be receiving any other offers for them in the foreseeable future and in today's economic climate, the odds of your land being drilled during the remainder of either of ours' lifetimes are astronomically high.
I don't really understand why he would want your minerals unless he owns the surface or something and wants to consolidate his ownership. A lot of people want to stop anyone from drilling wells in their front yards and that sort of thing.
Attached are a couple of maps showing you what I found.
Sorry I don't have any better news -
Charles762-GERALDBELLSMINERALINTERESTSFANNINCOTXPERMITS.pdf (92.2 KB) 763-GERALDBELLSMINERALINTERESTSFANNINCOTX.pdf (65.6 KB)
This lease is the best kept secret I have ever witnessed.I have no plans to sell. In fact taxes would get it, if I did. This would be a wildcat, Fan in is dry county, both alcohol and oil. Gonna keep my eyes open though.