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Natalie,
With that acreage there is quite a bit at stake here. The lease you posted needs some clauses as it is currently written very much in favor of the oil company. I believe engaging a professional will more than pay for itself in negotiation of the bonus alone. You absolutely need to have an attorney review the lease. A bad lease can cost you for the next 50+ years.
There are several pooling applications in the works now 2-3 miles away that may have some impact on the value of your lease. The hearing dates are 2 April. Since they are asking for the extension clause, it sounds like time is on your side.
http://imaging.occeweb.com/AP/CaseFiles/03050B25.pdf