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Permalink Reply by ETOilman on August 14, 2008 at 8:53

Jim Beam...That is a succinct point. Hard to argue with that. I guess if you have 100 acres of minerals and someone offers you $25,000 per... what the hell, turn it down. Leave 2.5 mil on the table.

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Permalink Reply by Snake Stewart on August 14, 2008 at 9:02

Hey Jim , It really wouldn't make sense for O&G's to pay big bucks if they can pay small bucks and still end up with your land. It probably would never have gotten to the $25,000 without turning down the $20,000 would it ?

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Permalink Reply by ETOilman on August 14, 2008 at 9:13

Hey snake stewart...what is your tipping point? Or are you going to drill your own well as you say you are?

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Permalink Reply by Snake Stewart on August 14, 2008 at 9:29

Don't know yet . How much are you tipping E.T. ?

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Permalink Reply by Greedy Landowner on August 14, 2008 at 9:12

It really is that simple.

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Permalink Reply by DrWAVeSport Cd1 on August 14, 2008 at 9:17

Sign that lease for any amount of bonus/royalty....It will be forever and a lifetime!

The question is not what is your tipping point...The question is...What is something worth over "forever and a lifetime?"

DrWAVeSport 8/14/08

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Permalink Reply by ETOilman on August 14, 2008 at 9:23

Wow. A lifetime of royalty checks. It is a business proposition. As snake stewart has stated, you do not have to sign anything.

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Permalink Reply by Snake Stewart on August 14, 2008 at 9:31

Those guy's that signed for $250 an acre still haven't seen any lifetimes worth of royalty checks yet. Whats your big hurry E.T. ?

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Permalink Reply by ETOilman on August 14, 2008 at 11:05

I am not in the leasing business in LA. I have been a landman in Texas for 27 years. I am working in East Texas AWAY from the Haynesville/Bossier mess. Thank God. I did hear a story out of Harrison County about a lawyer whose client/landowner has been offered a substantial amount of money. Airtight lease. I mean a tough one. Covers all. Then the landowner comes back with a non surface use provision. Attaches a map negating about 80% of the land as drillable. The company has said ABSOLUTELY NOT. With the money on the table, they could drill in my LIVING ROOM. I would just build me a new house. I think this stuff is way out of control.

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Permalink Reply by po boy on August 14, 2008 at 11:30

(Digging my old Black Hat out of the closet)
Them the has the Gold makes the Rules!
I would think the only way to get $30K is to have something worth $30K. and someone willing to pay it.

When I buy a car I write a check for what it is worth to me, hand it to the sales manager and tell him to call me when he ready for me to sign it. I have never had to wait over 60 days.

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Permalink Reply by Hopeless on August 15, 2008 at 14:46

can you recommend the name of an attorney or two in east texas that specializes in oil and gas with experience in harrison county

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Permalink Reply by ETOilman on August 15, 2008 at 15:28

there are a couple over there that can help. Dean Searle or Bill Abney are both very good.

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