We bought a farm in 2012 and are aware that KLMJ bought the Penn Virginia lease that is on our property. It is about to expire July 2, 2015. KLMJ said everything is in place for the lease to be released upon expiration.

  We had a land man (Colonial) come knocking last November (2014) offering $1,500 an acre, 12 /12% royalty for 10 years. He said when our lease expired to call him if we were interested.

  A month ago another offer came from a land man who said KLMJ may be interested and he offered $2,200 an acre, 15% royalty for 5 years.

   We are totally ogm illiterate to all of this and wonder, should we wait? What's the chances a better offer will come along? We do not know how much the former owner got for the lease that is expiring but we do know it was for a considerable amount more than $2,200 and acre. We were told to use that as a bargaining chip. Does it matter that our land has a pipeline right-of-way that runs through it?

  We are in Bingham Township, Potter County and have 43 acres. Any thoughts?

Thanks in advance

Lori