Mineral Rights - need advice

[afd362]

What is the name of your state? Texas

Here's what happened. My wife and I bought our first new home 2 yrs ago. All went well until I recieved a letter from an attourney for the title company threatening a law suit over mineral rights. When we purchased we signed a "Earnest Money" contract and put money up till the financing could be arranged. In that there was a line that stated that all mineral rights were to be retained by the seller, we initialed that along with dozens of other statements. I honestly did not read it, nor did my real estate agent point it out. The sales enviroment was "high pressure" to say the least. At closing with the title company we signed what seemed endless paperwork. No mention of the minerals nor did I think of them.

Now I recieved a notice to have the title deed corrected from the title company's represenative. The title company had for some reason ( a mistake i guess ) issued a "General Deed" which conveyed all rights (minerals included) to us. They said that the earnest money contract stated that a "special warranty deed" should have been issued which would have retained all rights to the seller.

All of this would probably be a mute point but since the gas companies have found out the property sits on one of the biggest natural gas fields in the world it has suddenly become a issue. The property in question is a small 7000 sq ft. residential lot and I have no way of knowing what the minerals are worth. What should I do? Sign it over or fight it?
Thank You.