My wife received three Paid Up Oil and Gas Lease documents for Garvin County OK royalty in one envelope from these guys. The documents are for 1/8 for five years. These just came out of the blue, we have no recollection of ever striking any deal with them. Is this some type of fishing expedition? I am unable to contact them by phone or e-mail so far.
I did a quick search of the county records and did not see any leases to them. A few years ago they did a lot of buying and selling. I agree it is a fishing expedition. They are planning on flipping them to an oil company. I would just shred them. 1/8 isn’t worth your time to look at and I’m not sure I would deal with anyone that sent me a lease without an explanation. I do sometimes send out leases with my letters asking mineral owners to lease, but you can always tell it is a request and subject to approval and negotiation. Haven’t sent out a 1/8 lease in several years…it’s kind of insulting.
Thank you very much for your reply
They are hoping you will sign without sending a counter offer. Also, don’t ever sign for a 1/8th royalty.
Thank you for your help, that noise you hear in the background is the shredder…
Never do five years. I also never do an extension clause of two years on a three year lease.
Go to the ‘law’ section of this website and you will see a post title 'Problem with pro Minerals" - I suggested you read it
Speaking from my experience only, there have been times that I have exhausted all means of trying to get into contact with a mineral owner. Sending out the OGL was my last resort. 8/10 times I would get a response to open up negotiating.
I try to respond in a timely manner, and do most of the time.