Okay, the next calculation I want to do is what we call the money decimal. This is going to help you if you're negotiating an oil and gas lease or if you're on the phone with an owner who doesn't understand the impact of their royalty payment. We're going to convert the royalty fractions in the oil and gas lease to dollars. This also works with overriding royalties and other working interest fractions, but for today, we'll focus on the royalty fraction in the oil and gas lease. Your landowner might say, "Well, that's all well and good. 1/8 equals 0.125 decimal, which is equal to 12.5%. But how does that affect my bottom line? In other words, how much money am I going to get in my check if I have a 1/8 royalty versus a 3/16 or a 1/5 royalty?" Let's say the landowner has a 0.125 or 1/8 royalty fraction in the oil and gas lease. What we're going to do is multiply that decimal by the oil and gas company's $1000 worth of profits. So, 0.125 multiplied by 1000 equals 5. We could have also said 1000 multiplied by 0.125 equals 5000, but let's do it step by step to remember the process. Now, let's move on to the next step. 0 x 2 is 0, 0 x 2 is 0, 0 x 2 is 0, and 1 x 2 is 2. Then, let's add two zeros and multiply 1000 by 1, which gives us 1000. Summing it up, we have 0 + 0 + 0 + 5 + 2 + 1, which equals 8. However, we haven't done anything with this decimal yet. To convert it back to a royalty fraction, we need to move the decimal over the required number of places. In this case, it's going to...
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