Breaking Oxfords Lease

Has anyone had any success with breaking a lease? 3 yrs ago we signed a 5 yrlease  with 5$ an acre 12.5 % royalties. So far no activity. We have 2 yrs to go, and would like to buy out or discontinue the lease. We want to sign up with another company with a much higher offer. Anybody have any info or news to share? Thanks!

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Permalink Reply by SA Frank on February 27, 2011 at 5:14am
You are pretty much stuck with the lease that you got.  You can always approach Oxford and ask to buy out, but you need to realize that they know that they could be sitting on a gold mine as well.  They most likely could sell their lease to another company just like you.    Most likely they will either sell the lease to someone else or drill a well and hold the lease by production.  Your best bet might be to sit back and wait to see if they don't drill a well and let the lease expire.  Feel good that you have royalties to collect someday hopefully. 

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