We finally got legal description of property for lease today.
So I am posting everything I've gotten so far if anyone can help I would appreciate it. Im new at this stuff and want the best deal possible for my family.
Our mineral rights our located at: The southeast quarter of secton 32, township 18 south, range 16 east, M.D.B. & M in Fresno County, Ca
APN 060-140-63 ( Ptn) haven't glue what this means,
We have been offered $40.00 per net mineral acre annual rental ( 200.00 per net mineral acre paid in advance for five years) for a five year term and a proportional share of the 1/6th royalty payable to the mineral holders of the future production.
This is being offered by Onshore Leasing Corp. Landman Kenneth L Mettler who says is representing a subsidiary of Occidental Petroleum Corporation who wants to lease our rights.
I haven't any idea if wells are around area or not, nor any idea if this is a fair market value being offered my family.
Thank you