Even though we own an oil/gas well.
Some months ago, Fanny received an intriguing letter from a law office informing her that she and several others had inherited some oil/gas leases. Of course, always on the lookout for fraud, we called her Uncle who has a lifetime in the "oil bidness" (as they say in Texas) and he told her it was legit. He also said that although it would pay off, it wouldn't be a lot so don't get too excited. We laughed as I worked on the math and determined that she owned a portion comprising something like 1/238th of a small part of said operation.
Today the data came in. Fanny is the proud owner of: 0.925926 of 27/32 of 2.488 divided by 511.3153 x 1/2 of 1/8 of 10 leases of a producing GAS field. The company checked the math for me and if I'm reading this correctly, Fanny owns 1/10,000th of 1% of said leases. I was surprised they paid the postage both ways for the documentation because I think that 84 cents probably puts her in the hole to the company. In fact, this statement from the "Division Order" tells the whole story: "Payor may accrue proceeds until the total amount equals $100, or pay May 15 of each year, whichever occurs first." I think we might get a bill instead.
This has been a fabulous year for us. We inherited an old dog and racked up a huge veterinarian bill along with a gas well. I pray for our relatives' health as I'm afraid of what they might leave us next.
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