Good Morning, I have received a lease offer from Citizen Energy III, LC. I have mineral interest in 1-15N-5W, but the lease offer only offers the 3/16ths option. This is the first time I have seen that as the only option. Has anyone heard of any activity happening or going to happen in that area? And who is Citizen Energy III, LC? I tried to look on their website and gain some insight into them, but it’s only the front page with an investor login area. Just wondering if this is a true offer or a scam.
They are a legitimate operator. I always ask what they are offering at 1/5th and 1/4th. The original letter is usually just the first round.
There is quite a bit of horizontal activity in the nearby area. I would think that you might get other offers as one lease has already been filed for higher royalty.
Thank You for the information, I asked about the other offers, and they said they only offered the 3/16ths. I thought that to be interesting.
Offers are contingent on competition.
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