Ron Ward,
I am going to start a DISCUSSION because it is not possible to reply to your WALL POST.
You wrote ...
"... Has anyone encountered leases by patriot? Know they are a flipper but got offered $4500/10% gross. Was told the $4500 was a minimum and i would get whatever they sold it for so could be higher minus 10% of what they sell for???? Any help on this one???? ..."
The Signing Bonus ($4,500/acre) is only a one time payment if they drill within 5 years. But the Royalties can occur (from decreasing production) for up to ten years. Have you done the math to determine the difference between you getting 10% Royalties while Partriot keeps 7% royalties VS you getting the 17% royalties?
Please do the math and let me know what 7% Royalties would "cost" you !
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