re: Just bought 40 acres

You would have to lease the surface rights and get what little piece of the pie you can. If you say no, they'll just drill on someone else's land and hit the oil under you anyway.

As far as the Ragley area is concerned, its very unlikely they drill anything. We have 40 acres ourself in the area and we've leased for probably the last 5-6 years or so and they haven't tapped a well anywhere yet.

There's only been one well active that I can remember, but they've since capped it.

Anyhow, welcome neighbor.