I inherited got a 160 acres of mineral rights in Carbon County Wyoming. I've been offered $25/acre for a 5-year leash & 15% royality.
I know many of you are in this situation. I want the lease with its potential payoff to go forward, but can easily burn through my signing bonus by hiring a lawyer to look it over to see if it's fair.
I've accessed oil/gas leases on the Carbon County Gov. website, but it's always for "ten or more dollars...." There's never a mention of how much/per acre is the signing bonus.
Also, I've noticed no one gives the coordinates of their claim when asking its worth. Will the bogey man come and get you if you do this?
And how can you get a credible answer without giving the coordinates of your claim?
Any tips on how to best crack this acorn?
Dazed and confused