posted on Jul, 10 2012 @ 02:26 AM
Check your mineral rights.
If you don't have them such that you have rights to the oil, you are S.O.L. and your land can get yanked out from under you like a rug on an old
comedy, and you won't be laughing.
If you DO have rights, LEASE those rights. Shop around for the highest bidder.
Leasing the mineral rights lets you keep the land and all the other minerals you don't lease out.
Once leased out, go live your dream. Buy and work another other farm. Chase Russian hookers in Moscow.
Live slow, or live fast, or anywhere in between to whatever level the lease income allows you per your comfort level.
Don't be greedy either. If companies offer you similar prices, take the one you feel best about. Take one of the offers because they're all going to
be knocking on your neighbor's doors and offering them LESS.
If the companies can drill on your neighbor's property and get the same thing from the same well that spreads over miles of adjoining property,
including yours, you will get screwed.
Look at lease offers quick, and take all decent respectable offers for leasing rights under consideration with an attorney present.
If you act stubborn, you'll get left out while your neighbors cash in, and you'll also probably lose your property on top of it.
Come to a legal lease agreement and you get to keep you land and reap the benefits.
edit on 10-7-2012 by Druscilla because: (no reason given)