Regarding Secs. 8 & 17-16-13: This letter has gone out from Manna:

331 Milam St., Suite 308
Shreveport, Louisiana 71101
Fax: 318-673-9726

NOVEMBER 3, 2009
CURRENT LANDOWNER,

IF YOU HAVE NOT YET LEASED YOUR PROPERTY IN ELLERBE ROAD ESTATES AND WOULD LIKE TO DO SO, MANNA ACQUISITIONS, ON BEHALF OF CHESAPEAKE ENERGY, HAS RENTED SPACE AT EAST RIDGE COUNTRY CLUB ON NOVEMBER 18, 2009, AT 6:30 P.M. THIS WILL BE AN OPPORTUNITY FOR YOU TO SIGN. AFTER NOVEMBER 18, 2009, WE WILL NO LONGER ACTIVELY PURSUE THE LOTS IN YOUR NEIGHBORHOOD. THE TERMS OF THE LEASE HAVE NOT CHANGED SINCE THE LAST TIME THAT WE MET. WE ARE OFFERING THE FOLLOWING TERMS:

- 3-YEAR LEASE @ $5,000/ACRE WITH A 2-YEAR OPTION TO EXTEND @ AN ADDITIONAL $5,000/ACRE
- 1/4 ROYALTY (25%)

THE TERMS OF THE EXHIBIT ARE AS FOLLOWS:

- NO SURFACE OPERATIONS CLAUSE
- VERTICAL PUGH CLAUSE (RELEASING 100 FEET BELOW THE DEEPEST DEPTH DRILLED WITHIN THE PRIMARY TERM OF THE LEASE)

EAST RIDGE COUNTRY CLUB IS LOCATED AT 1000 STEWART DRIVE, SHREVEPORT, LA 71106. LET US KNOW IF YOU HAVE ANY QUESTIONS. WE HOPE TO SEE YOU THERE.


Respectfully,

Sam Shackelford, Landman Ben Bullock, Landman
samshackelford@gmail.com ben@bayoutigers.com
(870) 818-5590 (318) 547-6311

Allen Barham, Landman
afbarham@gmail.com
(682) 429-7956

Tags: LEASING

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