The pooling order is the final step. You only have 20 calendar days in which to make your election or you will be assigned the worst option. If you already have an attorney and a final lease ready to send, it must be filed in the courthouse before those 20 days are up. You need to inform Sanguine that you signed with X company effective Y date. If you go with pooling, you need to send the pooling choice by certified mail return receipt. The options in the pooling order are the best that Sanguine will offer. You may be able to get slightly better with a third party, but it won’t be by much that would account for the attorney fees. If there is no other competition in the area, then pooling is it. Most of us would select the higher royalty and not worry about the bonus. A higher royalty on a successful well and possible future infill wells for many years far outweighs a one time bonus payment for a lower royalty.
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