I just received a lease for mineral rights on 3.5 acres (part of a 60 acre parcel) and wanted to know what a fair signing bonus and royalty would be. The lessee is offering $2500 per acre with a 15% royalty for a primary 5 year term which would continue as long as production is going on. I've read extensively and am prepared to negotiate with them regarding clauses which I'd like added: no warranty of title; non-liability or duty to defend clause; no production cost or market enhancement clause. The lease makes no mention of how deep the company might drill so I'm not sure of the vertical Pugh clause. This is all so new to me, but I've certainly enjoyed learning as much as I can. Any suggestions would be welcome