Pecos County, Texas Oil and Gas Lease Proposal

We have received an offer on 640 acres in Pecos County, Texas, Section 27, Block 48, Township 8 (T. & P. Ry. Co. Survey).

Bonus: $350 per net mineral acre

Term: 3-yr paid-up

Royalty: 1/4

Is this a fair offer? What drilling activities are taking place in the area? Many thanks, Anne