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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?

To: Dixie7777 who wrote (940)	6/14/1998 3:17:00 PM
From: ColleenB	Read Replies (1) \| Respond to of 11684

This is not necessarily the case. Property owners, that is "surface" owners do not own subsurface mineral rights unless their deed states such. Generally speaking, when a person buys a piece of property, they only legally own the surface and not the subsurface. It is very common for an oil company to own mineral rights and not be the "land" owner. This is very common place in the southwest. Oil companies commonly contract with (surface) property owners and make payments for "land use" during drilling operations and they may even allow some royalities (depending on how astute the farmer's lawyer is) if/when a productive horizon is penetrated/discovered....the royalities can be in the form of future land use, accessiblility, etc. And in the older fields, the farmers were able to contract productivity percentages.