Anybody have experience with oil, gas, and mineral leases?

We have about 20 acres in Walker, LA...near the exit along I12. We were contacted by Strand Energy wanting to lease the land. They offered $150 an acre as a bonus plus 1/5 royalty if anything is found...3 year lease.

It didn't "wow" us and it appears to me as just a land grab by them. I haven't seen any new rigs pop up in the area. Does anyone know if anything is going on in Livingston Parish?

I told them we weren't interested at this time, but keep us in mind if anything changes in the area. I guess we'll see how motivated they are if we're ever contacted by them again or if anyone else contacts us.