Gentlemen... all. Do not let this conversation devolve into name calling. It will be entirely deleted, and possible action against all will be taken at the discretion of the management. If you cannot refrain, simply walk away.
Jawad, did you have to pay this company to do the satellite mapping? As Steve said, & as Buddy pointed out, this technology is not yet proven to be very accurate. Many times companies will get you to pay for their mapping services by promising you will get great returns 'once you know what you have'. Not to discourage you, but be careful that you don't spend tons of money (unless you just want to) 'discovering' what may/(may not) lie under your property.
Dear Kenny and Jawad,
Please consider this a public apology. My intention was not to offend or exhibit boorish behavior. I thought that my post would be revealed as tongue in cheek jest. I was sorely wrong. Boy, was I wrong.
I hope that Mr. Ihnoud accepts my very public apology, which is the very best that I have to offer. Dad always told me that if you are wrong, admit you are wrong and be the apologist.
Jawad, as a show of good faith and total contrition, one way to structure a transaction would be for you to form a company and lease the property to your company at 1/8 royalty (or 1/6 or whatever). Then sell the idea to drill the well to a 50% partner. That way, you would get 12.5% royalty plus 1/2 of 87.5% net revenue interest for a total of 56.25% of the well and only pay 50%. I hope that this very simple structure will enlighten you on the possibilities when you control the mineral interest. There are a million and one ways to structure a drilling deal.
Best of luck and fortune in all ventures.
Buddy Cotten
Kenny DuBose said:
Gentlemen... all. Do not let this conversation devolve into name calling. It will be entirely deleted, and possible action against all will be taken at the discretion of the management. If you cannot refrain, simply walk away.