We received a Fed Ex letter today from COG Re: well proposal under order”. Our interest has been pooled. We are asked if we want to participate in the Operation. If so we must pay our share. The total cost of the Operation is over $ 10 Million!
There is a statement that we have a 0.000348900 working interest.
How does that translate to what we would have to pay?
We were not offered a lease. An attorney is working on quiet title as not all inherited interest has been filed in Lea County.
If we pay to participate, is the likely revenue better than a lease or selling outright?
It appears that there is risk that we have to pay more if costs are higher. How much risk?
We are not high rollers or savvy about the industry.
Thank you for any and all guidance!