We have been contacted by two different land men. One is working the West side of Zachary - T5S R1W. The other is working the East side - T4S R1E. Each is saying that he is working 100,000 acres. Anyone have any idea what the objective is? And who it might be?
Hey Jay, You are 1000% correct. This guy wants a 5 year lease at 200 an acre paid up and an option for another 5 years. This at 20% royalty. Thanks for the heads up. We also have a group wanting a free lease for a year so they can market the area. All of this and a well right across the River at Goudau that is producing 1,000+ bbls per day. Thanks for the input.
Who is asking for a free lease with time to market it? I think I know the answer to that question though!
I bet you do know the answer. Its Kirk. His guy says they have 90,000+ acres under contract and If I don't sign I'll get left out. Ha, Ha, Ha, LOL!!!! Thanks again Jay!!!!!!
David the deal has to be right. Can't sign something that would encumber the property for 10 years.
What royalty is EOG signing leases for?
What do you get with free? never heard of that
Kirk is taking free 1 year leases on a representative basis. Similar to a real estate listing agreement. He susposally has 90,000+ acres under contract and will take it to one of the shows and market it as a block. And his guy that talked to me threatened me with the line that you don't sign with us you'll get left out. I did not appreciate that.
Kirk is the one that got on GHS during the hot TMS days and told the world that I have been a "pain in his ass for 25 years". He went on and on. I have never met the man and don't know why he feels so threatened by me. Needless to say I'm not signing with him.
Jay is right; the other guy that called is representing a speculator. He wants a 5 year lease at 20% and 200 an acre with a 5 year option. So he wants to lock up acreage for 10 years. I told him no thanks. He told me to call him if I changed my mind. I don't think that is going to happen......