Replies to This Discussion

Permalink Reply by GoRicky on August 6, 2009 at 15:22

I haven't heard of any higher lately. Seems like the companies are "trading action figures" instead of buying new leases. The news about the EOG - Gammage should come out -- tomorrow --?

Permalink Reply by adubu on August 7, 2009 at 0:22

GoRicky-- Who's releasing offical news on Gammage #1H and where?

Permalink Reply by jffree1 on August 7, 2009 at 6:12

Not EOG. They admit that they have the Gammage well and that the test results are being held confidential. And that is all they would say in the webcast today. Disappointing, is all I can say.

Permalink Reply by LA owner on October 28, 2009 at 6:14

Has anyone heard about current lease bonus amounts? I have been contacted by 2 companies regarding a top lease on a lease of 616 acres in the J.A. Chireno Survey. The original lease is set to expire in May 2010. Does anyone know if lease bonus payments on top leases differ from the typical lease bonus. They want to lease in the Haynesville.

Permalink Reply by Skip Peel - Mineral Consultant on October 28, 2009 at 6:28

The top lease becomes effective upon the expiration of the existing lease term. It is generally accepted practice for a lessee to pay a non-refundable portion of the top lease bonus in advance as an inducement to execute the top lease. Most offers are to pay 5 to 10% of the bonus in advance depending on the amount per acre of the bonus. A top lease bonus offer should be in line with current lease bonus offers. I suggest that you get the top lease offer in writing. And consult an experienced O&G attorney.