My 85-year-old mother has been approached to extend her five year lease for one year with an offer of $500/acre (she has 20 acres) and 3/16 royalty. The location is:
Township 153 North, Range 100 West, 5th P.M.
Section 20: SE4SE
Section 28: SW4NW4, NW4SW4
Section 29: NE4
Is this a reasonable offer? If not, what would be a reasonable offer?