Replies to post #3262 on Phoenix Associates Land Syndicate (fka PBLSQ)

[monkeyfrog]

I think I mushed my question here-[ as per normal]

Couple examples of what I'm asking.

I own a working interest in several wells in Texas with Mustang oil and several with Chesapeake in Oklahoma- And every month I get an invoice with among other tings costs ascociated with the wells and a bill for my % share. If someone buys[ say PBLS] Mustang oil they are buying only Mustang's % of proceeds and liabilities- I'm still a working interest particiapte along with many others - regardless of who's doing the drilling and trucking etc.

I am a royalty interst owner on many leases in Texas and the sourounding states- one of the Royalty interest wells is on the Kenneth Powell estate and Exxon/mobil are the operators/lease owners. Now in the doubtful case someone would buy out EXXON I still retain my Royalty rights- and in the case that Exxon abandons the well- saying it no longer profitable for them I still own my mineral rights- and lets say 2010 oil prices are $100/barrel and another operator- lets say Rome oil and gas decides they can rework the well and still be profitable that's great- but they still have to pay the Royalty interest to me and alot of others up to the royalty's owners combined %.

What I'm asking in general is what % of mineral rights to each lease does Rome oil and gas own and thus PBLS own? If Rome oil and gas owned all the mineral rights to each lease then that's great!!!!