I received a call with an offer to buy my Kiowa County mineral rights for $450/acre. Sounds like an oil company got shut out and is now trying to buy up small interests to get into the game. Offer was from "Haggard Land".
I've been told that State of Colorado is getting $400/ac just to lease... Hope this helps.
Does seem a bit low. Really depends on where your property is. As mentioned by Tanya the State is leasing in some areas of Kiowa at higher rates than that. The lease auction results are at Colorado State Auctions . The November 2011 auction has many Kiowa Co. leases. Unless you need the $$ now, I'd wait until someone offers a good lease or find out who is leasing in the area and contact them.