I’ve received lease offers from Todco recently. They generally lease on behalf of the operator, as opposed to a lease broker that’s trying to flip the lease and carve out an interest for themselves. IMO they are a legitimate outfit, they’ve been in the industry for awhile. As far as picking which royalty option, I tend to wait closer till pooling before I lease. Usually that’s when you’ll get a better bonus or rate. I chose to lease at a 3/16th on a interest I have in McClain County 4 years, the bonus they offered back then was A LOT. The operator never drilled a well, I came out pretty well. On this same interest, the royalty bonus rates have dropped significantly. I plan on electing a 1/4 royalty no cash bonus once the unit is pooled.