re: Louisiana mineral rights agreement discussion thread

We countered with a reduction in price for no rights.

The owner of the property will not get the rights themselves until the end of the year, which will be the ten year mark for them. They are offering a percentage to us, which I can live with, however if they don't own them yet themselves how can they convey this? I'll talk to my attorney but everyone here knows so much more than attorneys and rocket scientists I figured i would toss it out there.

As of now we know the property is not under lease and no activity is on it and I believe it is safe to say nothing will happen before the end of the year. I will say its in an oil play area and we expect it to be active at some point in the future. Hence the reason for the rights being important.