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Permalink Reply by DS_TX on August 19, 2010 at 2:27

I think San Luis Energy could be a dummy company set up by Pete Dailey & Associates for signing leases and reselling them. While PDA advertises as a 'professional' land service company, the website does not look very professional with its photos of the boys having fun watching football (perhaps while on an office hunting trip?). See - http://www.petedailey.net/

During late summer of 2008, my elderly mother (who lives in SE Central TX, not the Haynesville Shale area) was contacted by a local supposedly with Pete Dailey & Associates who wanted her to sign an oil & gas lease. She signed the lease presumably with "San Luis Energy LLC" out of Houston for $150/acre for a total of 3 years (not per year) with option to extend for additional $150/acre for an additional 2 years. That was when oil & gas prospecting had bottomed out instead of gearing up as expected.

Now we are hearing about 'shale play' via an article in the local newspaper, and that leases are said to be going for $750-$800/acre on average and as high as $1500/acre. A landowner nearby signed for $1500/acre and word is the lessee is signing small tracts first, as that landowner's neighbor with 170 acres (instead of 50?) has not been contacted.

At the time my mom signed the lease, I could find no information online for Pete Dailey Associates or San Luis Energy, and assumed that PDA was a local land company working for SLE, a large oil company out of Houston, but such doesn't seem to be the case. There is still no information online for SLE, and when I perform a reverse search using the address on the lease for SLE (11111 Katy Freeway Suite 360), what is returned at that address is for PDA.
See - http://www.whitepages.com/search/ReverseAddress?site_id=17672&s...

In addition, PDA no longer has a phone listing for a local office in our area.

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