Got a letter today from Paloma telling me to contact Texas Re exploration now for all my lease information. Anyone else know anything about this.
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Danny is your mineral interest in LA or in MS?
Would that be in St. Helena. Townships 1S - 6E or 2S - 6E. What section and township are you in?
44, T2S, R6E in Tangi, right by St Helena Tangi Line.
It doesn't appear that your section has been unitized by Paloma. Texas ReExploration has been mentioned as taking TMS leases so this may be part of a lease swap or an outright sale. Texas ReExploration has not formed any drilling units at this time nor have they permitted any wells.
What is the info on Texas ReExploration, Ive never heard of them. I guess this may be some bad news that they have taken it over. Good thing I got Paloma for $1000 an acre in May of last year when they were paying high.
Texas ReExploration is a private company so there is not a lot of information available on them. They don't have a website that I have found. They are listed as an "operator" in Texas but I've only found one well for them and that was a vertical in 2008.
So what is their route to making any money? Only one well, wow.
It's possible that they have operations in other states or have a business model where they prefer non-operator status where they participate as a Working Interest in wells drilled and operated by others. Any speculation beyond that gets into areas where none of us would wish to go. There are a lot of ways to make money off oil and gas assets and some don't involve drilling.
So would you consider this good or bad news for my lease?
Impossible to say for sure but I think Paloma sounded like the better alternative.
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