Oil & Gas Pro

OCTOBER STATE MINERAL BOARD AUCTION RESULTS

1 41640 BOSSIER 1, 12, 16, 17, 18, 19, 20, 21, 4, 5, 6, 7, 8, 9 T19N R13W, R14W 48.000 NO BID .000 $0.00 $0.00 $0.00 0.0000000 0.0000000



1 41641 BOSSIER 1, 2, 21, 22, 23, 24, 25, 26, 27, 28, 3, 31, 33, 34, 35, 36, 4 T18N, T19N R12W, R13W 28.000 NO BID .000 $0.00 $0.00 $0.00 0.0000000
0.0000000



 1 41642 BOSSIER 20, 21, 28, 29, 32, 33, 4, 5 T18N, T19N R13W 45.000 NO BID .000 $0.00 $0.00 $0.00 0.0000000 0.0000000



 1 41643 BOSSIER 27, 28, 29, 3, 30, 31, 32, 33, 34, 35, 4, 5, 6 T15N, T16N R11W 56.000 MATADOR RESOURCES COMPANY 56.000 $509,600.00 $9,100.00 $254,800.00 0.2100000 0.2100000



 2 41643 BOSSIER 27, 28, 29, 3, 30, 31, 32, 33, 34, 35, 4, 5, 6 T15N, T16N R11W 56.000 20445 MATADOR RESOURCES COMPANY 56.000 56.000 $415,296.00 $7,416.00 $207,648.00
0.2500000 0.2500000



 3 41643 BOSSIER 27, 28, 29, 3, 30, 31, 32, 33, 34, 35, 4, 5, 6 T15N, T16N R11W 56.000 PARAMOUNT ENERGY, INC. 56.000 $337,736.00 $6,031.00 $168,868.00 0.2500000 0.2500000



 1 41644 BOSSIER 4, 5, 8, 9 T15N R11W 1.000 20446 PARAMOUNT ENERGY, INC. 1.000 1.000 $5,031.00 $5,031.00 $2,515.50 0.2500000 0.2500000



 1 41645 NATCHITOCHES 23, 24, 25, 26, 35, 37 T11N R10W 5.000 NO BID .000 $0.00 $0.00 $0.00 0.0000000 0.0000000



4 - STATE AGENCY


41667 CADDO 23 T17N R15W 2.682 20461 PARAMOUNT ENERGY, INC. 2.682 2.682 $9,470.14 $3,531.00 $4,735.07 0.2500000 0.2500000



1 41668 DE SOTO 17, 20 T15N R14W 8.102 20462 PARAMOUNT ENERGY, INC. 8.102 8.102 $40,616.33 $5,013.12 $20,308.17 0.2500000 0.2500000



1 41670 SABINE 20 T15S R1W 27.000 20464 PARAMOUNT ENERGY, INC. 27.000 27.000 $54,351.00 $2,013.00 $27,175.50 0.2500000 0.2500000



 1 41671 SABINE 20, 21 T15S R1W 4.000 20465 PARAMOUNT ENERGY, INC. 4.000 4.000 $8,052.00 $2,013.00 $4,026.00 0.2500000 0.2500000



 1 41672 SABINE 20 T15S R1W 6.000 20466 PARAMOUNT ENERGY, INC. 6.000 6.000 $12,078.00 $2,013.00 $6,039.00 0.2500000 0.2500000



21 - VACANT STATE LAND



41684 CADDO 13, 14, 23, 24 T17N R15W 53.723 20471 PARAMOUNT ENERGY, INC. 53.723 53.723 $189,694.15
$3,530.97 $94,847.08 0.2500000 0.2500000
1



22 - TAX ADJUDICATED LANDS



41679 CADDO 34 T17N R15W 5.000 20467 PARAMOUNT ENERGY, INC. 5.000 5.000 $17,655.00 $3,531.00 $8,827.50
0.2500000 0.2500000



 1 41680 CADDO 34 T17N R15W 20.000 20468 PARAMOUNT ENERGY, INC. 20.000 20.000 $70,620.00 $3,531.00 $35,310.00 0.2500000 0.2500000



 1 41681 CADDO 1, 2, 35, 36 T16N, T17N R14W 5.000 20469 PARAMOUNT ENERGY, INC. 5.000 5.000 $22,655.00 $4,531.00 $11,327.50 0.2500000 0.2500000



 1 41682 SABINE 19, 20, 29, 30 T09N R12W 41.000 AUDOBON OIL AND GAS CORPORATION
41.000 $205,000.00 $5,000.00 $102,500.00
0.2000000 0.2000000



 1 41682 SABINE 19, 20, 29, 30 T09N R12W 41.000 20470 PARAMOUNT ENERGY, INC. 41.000 41.000 $98,933.00 $2,413.00 $49,466.50 0.2500000 0.2500000



 2 41683 SABINE 6 T8N R10W 48.000 NO BID .000 $0.00 $0.00 $0.00 0.0000000 0.0000000

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Replies to This Discussion


Oil & Gas ProPermalink Reply by The_Baron on October 14, 2010 at 4:02
Notice the Bossier tracts that received no bid..... Some of this is in a producing HA unit with the CHK prescot well. they must not be to proud of that acreage if they wouldn't even bid on the acreage in their own unit.
Permalink Reply by Kathe Newsome on October 14, 2010 at 9:11
Can someone explain to me what is going on with these tracts? Mine is in there. I know the lease is expiring, so CHK is putting them out for bids? I got a letter from Cobra wanting to lease my part, and I did not respond. Any help or suggestions?

Oil & Gas ProPermalink Reply by The_Baron on October 14, 2010 at 9:47
1) Cobra is typically a mineral buyer, and a unscroupulas one at that. Watch out.

2) The Bossier tracts were nominated by the staff at mineral resources. Looks like the state wanted to stake its claim to the water bottoms of willow chute bayou

Oil & Gas ProPermalink Reply by The_Baron on October 14, 2010 at 9:47
The Bosser tracts were not bid on.
Permalink Reply by Kathe Newsome on October 14, 2010 at 9:54
I had that feeling about Cobra (or maybe I heard a rumor). Anyway, I'm hoping someone will drill on our leases. They did drill one gas well in section 35, we're in 33 and it is producing, but I don't know how well. I could definitely use the money! Thanks everyone for responding.
Kathe

Oil & Gas ProPermalink Reply by The_Baron on October 15, 2010 at 4:20
If you are refering to the CHK Prescott well in Sec 35-19N-13W,

it is a very bad well. I would venture to say it probally will never pay out.

Production to date:

7/1/2010 17509
6/1/2010 18274
5/1/2010 20060
4/1/2010 20882
3/1/2010 20753
2/1/2010 19621
1/1/2010 23176
12/1/2009 23318
11/1/2009 17658
10/1/2009 27905
9/1/2009 32398
8/1/2009 38668
7/1/2009 46018
6/1/2009 58361
5/1/2009 95317
4/1/2009 23939


Total mcf: 503857


The well probally cost upward of 7 million, so figure after roaylty, its pretty bad.
Permalink Reply by Kathe Newsome on October 15, 2010 at 4:54
So, CHK probably is not happy with our area and that's why the leases are up for auction? Is that right? thanks for responding! Kathe

Oil & Gas ProPermalink Reply by The_Baron on October 15, 2010 at 5:31
No Kathe.

Once again, the Mineral board put up the tracts for bid, not CHK.

However, CHK would not even take a tract in their own unit. This is how bad the HA is up there.

landownerPermalink Reply by Checkmateking on October 15, 2010 at 5:23
Wow, they didn't even want the acreage in their own unit, that is bad.

Oil & Gas ProPermalink Reply by The_Baron on October 15, 2010 at 5:32
Whats even worse is that one bid, not even a low bid! Of course if someone else had taken a lease they would have to pony up to participate in what is widly known to be a very bad well.


We have an old saying in the buisness. The only thing worse than a dry hole is a bad well that you set pipe on!
Permalink Reply by Kathe Newsome on October 15, 2010 at 5:28
I wonder why Cobra wants to buy our leases then?

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on October 15, 2010 at 5:30
Kathe, Cobra doesn't "want to buy your leases". They want to buy your "minerals". And they have zero inside information. They do cursory research to find the names of individuals with leases and then send them low ball offers.

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