I have a deed from 1947 that states "...grantors herein reserve and retain for each of themselves, respectively, a 1/64th interest in and to all oil, gas and other minerals, in, upon and under said land hereinabove described, with the understanding that grantors herein shall not be required to join in any lease or leases of the minerals in the above described lands; but grantors herein shall participate in any rentals or bonuses under any such lease leases in proportion to their respective reserved and retained interests in such minerals; and each of grantors shall, also be entitled to receive a 1/64th royalty of any oil, gas or other minerals produced from said lands hereinabove described."
I am being asked to sign a Ratification of Lease but have been told that the ratification serves as a cross conveyance of minerals and that I have no need to sign as the oil company is still obligated to provide my share of the bonus and further that my share of production is my share of the 1/64th (not subject to the royalty as negotiated in the lease by those with executory authority.
I sent an email stating that I would be happy to sign a receipt for the bonus but that I was not prepared to sign a Ratification of Lease at this time. The landman appears to have thought that she was forwarding to her boss when she actually sent an email back to me that said "What are we going to do if he wont sign?"
Any thoughts, suggestions, counsel or interpretation on the above is welcome. (this is very small interest)
thanks.