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Permalink Reply by ChelleA1 on July 13, 2008 at 15:39

Hi Les I have a question for you, we have an individual handling our lease and lease options -not a landman for any certin O&G co. He is tring to get us pooled at 320 acres..Is this an o.k. idea?? Also we live east of Lake Bist. and have had several offers the latest was 20000. per acre plus 27% royalties for 12 acres that was an offer made by Chesapeake is there anything in your opinion that we need to be cautious of???

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Permalink Reply by Les Bamburg on July 13, 2008 at 17:41

Chelle, I assume you mean the acreage would be in a 320 acre unit rather than a typical 640 acre unit. I do not see any particular problems with this. Most companies are planning to develop the Haynesville Shale on an 80 acre spacing so the unit would have 4 wells rather 8 wells but the tract participation would be twice as much. For example assume you have 32 acres. The tract % would be 10% in a 320 acre unit and 5% in a 640 acre unit.

Maybe there are others that see an issue with the smaller unit.

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Permalink Reply by ChelleA1 on July 15, 2008 at 4:35

Thanks I appreciate the reply.

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Permalink Reply by Debbie on July 18, 2008 at 7:53

What does the 640 acre tract consist of? Does it go circular out from the rig surrounding the rig or just in one direction to form a section? Can you live close to a rig and still not be included in the 640 acre section?

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