Posted by John A. on April 29, 2011 at 22:06:33 from (76.1.122.180):
In Reply to: oil lease question posted by notjustair on April 29, 2011 at 18:34:34:
notjustair, Get a good Oil & Gas Lawyer to look at it. But in my Opinion it is a option lease, The oil company was just tying up that parcel with many others back in 83 to keep some other company from getting the lease later! They paid the first year and didn't reup the following yrs for No more money changed hands. Any way most leasees stipulate a length of time and drilling has to start before the end of the contract or it is Nill and Void or more money needs to change hands again. 2 yrs ago we leases to have ours place seismographed. They had 3 yrs to complete the work and it was over. Made a hansom amount for them to drive the train of 3 trucks all over our place and do the shake and thump thin they do. Hope this helps. Later, John A.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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