Mark,
Well API 227-37390 is a producing oil well. Someone should be receiving a royalty check from this well. Link to production data on this well:
http://webapps2.rrc.state.tx.us/EWA/specificLeaseQueryAction.do?tab...
Some of the Horizontal wells in the area are very good oil/gas producers. Well 38251 in A-278 Completion Report showed 1,212 BOPD/579,000 MCF per day/Operator is Oxy USA, Inc./Well completed June 2015.
If I owned 100% of these minerals on this 160 acres and I wanted to sell I would price them between $30,000 and $40,000 per acre. There are numerous horizontal wells to the north and west of your minerals. In time they will be drilling in your immediate area.
GIS Map of Howard County Abstract 129/Section 3/Block 32T1N:
There are numerous vertical producing oil wells all around your acreage.
Clint Liles