We have received an offer for a lease in Jones County, TX, Section 72. The terms are $150 per nma, 3/16 royalties, 3yr with option for 2 year extension. Has anyone else received offers in this section?
I cannot comment on the amount, but I would not agree to a two year extension. I would ask for a higher royalty and get some legal advice for the lease.
Can you provide a more specific legal description? There are several Section 72 in Jones County. One just North of Hamlin (SP RR Co survey) Abstracts 1656 and 1560; One NE of Anson (BBB&C RR Co Survey) Abstracts 1121, 1577, and 1723; and two Section 72’s in SE Jones County, South of Lake Ft. Phantom, one in Block14 and the other A-169.
This topic was automatically closed after 90 days. New replies are no longer allowed.