I’ve been offered $16,000 for 5.3 acres of property in Converse County, Wyoming. I currently lease the rights to a company that pays me about $3,000 for every 3 years. El Dorado Mineral Partners has been quick to make this offer. I’ve not ever had an offer to purchase the rights, just a lot of offers to lease it. I have always stayed with McDonald Land/Chesapeake. My 5.3 acres is part of a 360 family plot and my understanding is that everyone else sold their rights a long time ago. I inherited this from my mother in law, who inherited it from her aunt so it’s been in the family for around 50 years. So, this sounds great to have some money in my pocket, but I’m figuring after I pay taxes and such it really isn’t much at all and then I lose out on the possibility of any royalties (although they haven’t found anything in all these years). Any opinions or advice?
Keep it no matter what. Lease agreements expire so dont hesitate to RE-LEASE it on your terms.take the money after taxes and do something good with it.