I am new to the leasing. Our mineral rights are in Gaines Co, TX consisting of 100 acres and was leased at 150/acre in 2008. Have not heard from the present lease holder regarding the option for renewal at 250/acre for 2 yrs. We have received offer of $500 acre, if our present lease holder does not renew. Should I contact my present lease holder, as the lease will expire in 30 days, or let it go and sign with the present offer for more money. Also, my nephew says he may can get a deal with a oil company to just drill for oil w/o lease agreement. Does that really happen?