Replies to This Discussion

Permalink Reply by TomO on July 16, 2008 at 16:19

Just spoke with another one of our neighbors who did not take the offer back in December. He was asking about everyone getting together and I directed him to this site (Not you Randy, I spoke with him after you came by). So much information from so many directions right now but the common thread on everything I have read and heard is sticking together in a group. Larger tracts of land equal more money. Anyone figured out yet what company that was robbing our neighbors in December?

Permalink Reply by Bobi Carr ("parker") on July 16, 2008 at 16:44

Encana. I got robbed.

Permalink Reply by SoBoRes on July 16, 2008 at 17:37

Now all we have to do is set a date, time and location to meet. Anyone have any good ideas? I'm interested in what Mom of 3 was offered this evening and we can get an idea of what "low ball" figures they are still offering.

Permalink Reply by mom of 3 on July 17, 2008 at 0:53

We meet last night with someone from Gulfstream Oil and Gas. They offered us $10k per acre. A couple of people came over but that was a 30 minute word of mouth deal. We have put up a sign on the corner of Mahan and Bittersweet with a number to call if you are interested in joining us. You can also email me at beav_52@netzero.com. We are also planning on putting out fliers and we want to have a meeting on August 5. We are working on the location right now. Please talk to your neighbors and see who is on board. Also, we looking for anyone in Lucky Estates to join us. They got offered the same as us last night so if you know someone who lives there please let them know about us. Also, I have a personal friend who lives on Caplis Sligo and they just signed with Twin Cities for $15k an acre.

Permalink Reply by Jay on July 17, 2008 at 2:58

Thanks for pulling everyone together last night. If you can post the information in the flyers, I will email it/myspace it out to people I know.

Permalink Reply by mom of 3 on July 17, 2008 at 15:44

I just got word that the guys who came to us last night with an offer of $10k per acre offered another Orchard resident $12k with the possibility of $15K this afternoon. Anyone, please let us know if you hear of a better offer.

Permalink Reply by SoBoRes on July 17, 2008 at 17:14

I spoke with a person earlier this week from Petrohawk and they are interested as well provided there are a few of us left (at least 20 to 25 acres minimum). Based on my e-mail from Mom of 3 we are up to 20 or so residents that haven't signed yet. Considering that we all have at least 3/4 of an acre we should be close to 20 acres.

Based on countless hours of research, I believe we should be looking for at least 25k bonus per acre (3 year lease), and believe that if 1/4 is the royalty amount offered, O/G should pick up the tab for all extraction and transportation costs. IMHO

Permalink Reply by TomO on July 17, 2008 at 18:13

Great information guys and great that those of us that are left are coming together. There are more of us out there, several close to me that I am going to speak to by the weekend so I think our numbers are looking good. We keep hearing the strength in numbers mantra, but my question is, how much is too much? How many other areas do we need to get in with? Will it add or subtract from our value if we bring a group from down the road in? Thoughts?

Permalink Reply by Bobi Carr ("parker") on July 17, 2008 at 18:36

It could only help.

Permalink Reply by TomO on July 17, 2008 at 19:02

That's what everyone keeps repeating but I guess I just don't understand the dynamics. I want the best for everyone and I am not leaning one way or the other. As a matter of fact I am committed to us all sticking together. Also I feel really bad for our neighbors who took the offers months ago for a fraction of the going rate today. Hope there is some type of recourse for them.

Permalink Reply by SoBoRes on July 18, 2008 at 2:34

Based on a discussion that I had with Petrohawk, living outside city limits (rural area) makes life a lot easier on O&G for extraction. Mind you, this information was provided by a company want to make as much off of us as possible.

I know the large group in Bossier (meets at the old SWAT building lately) is shooting for 30K per acre and 30% royalties regardless of where your property is.

Regarding my last post I found a bit more on a disclaimer that I would think we should add to our lease:

As a condition of Lessor entering into this lease with Lessee, Lessee in computing Lessor’s royalty shall not deduct the cost of treating, gathering, transporting, dehydrating, compressing, extracting, processing, manufacturing, marketing, improving, or any other cost, whether similar or dissimilar to those enumerated. It is clearly understood that Lessor shall be entitle to look only to Lessee for payment of its royalty and shall not be required to deal with purchases of hydrocarbons produced from the leased premises or any other third party. Under no circumstances shall Lessor, in order to obtain payment of the royalties due it hereunder, ever be required to execute a division order or other document that in any way amends, alters or changes any provision of this lease.

thanks to insomniacnla for posting this in the "$$$$$ Your Area & Your Lease offers As of July 14th $$$$$$ moving froward" on the main page.

Permalink Reply by SoBoRes on July 18, 2008 at 3:13

Interesting--Just got a phone call from a guy at GulfStream O&G saying they were leasing in our neighborhood and offering $10K an acre.

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