My sister and I had a leasing offer from Western of Edmond, Oklahoma for our mineral rights in Kiowa County. I was wondering if anyone else has had offers from Western and if anyone has had experience with them.
Hi Harold,
Yes, I have had an offer from Jeff at Western. If that is the Western that you are talking about. The offer was not a paid-up lease. He offered a minimal ($10/ac) at lease signing then some the next year and the remainder the following year. The offer totaled to a $100 rental, 1/6 royalty, 3yr with 3 yr extension option at $125. I replied to him that I only do paid-up leases since ALL other offers I have had on my Kiowa property are paid-up and all leases I have done for the last 25 years have been paid-up. IE I was not willing to 'finance' his unpaid rental to me.
From what I have found so far, Western is just Jeff, he has 2 LLC's, one started in May 2011 and the other in September 2011. His last email (10/11/11) said he was going to send a paid-up lease offer, I have not heard from him since.
I am not real confident that I'd get more than the $10/ac and then have to hassle with a lease in limbo after the first year, due to non rental payment. I'll post here if I get a paid-up lease offer from him.
What was his offer to you?
Norm
Today I recieved a written offer from Western that is a paid-up lease. (not as good as others I have already gotten)
Also today by coincidence I got a lease offer from SRMCO, Inc in Douglas, WY today also for my Kiowa property, again not the best one, but competitive.
If anyone is interested in the details, please Send a Message to me... I will accept any Friend requests.