signing lease

Maybe someone out there can help me. I am not leased and have not signed up with any lawyers but have gone to a couple meeting.  One of the lawyer goups just called and said they have a contract with Halcon and want me to sign a contract.  I would get 3150 an acre and 18%.    However the lawyers want 150 per acre and 1.5% of the roylaties for 5 years.  The 1.5% would translate to 8.33% of my royalties.   But they said that need to do it by monday.  I hate to rush into something but what if i wait and nothing happens.  I hate to give up some of may royalties.  But i would hate to end up with 18% of nothing.

 

What do you think?

Lorri

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Replies to This Discussion

Permalink Reply by Hill Top on June 26, 2012 at 6:42am

Tibbs told me two weeks ago that he was not leasing any more land in Richland Twp, Venango county at least for now.

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