Replies to This Discussion

Permalink Reply by mom of 3 on July 18, 2008 at 5:15

These are the guys who offered us $10k one day and $12k to someone else in the neighborhood the next day. I am the one with the sign in the neighborhood to call if you haven't signed. Please call or have your neighbors call if they haven't signed. I would like to go to Petrahawk with at least 20 acres and see what they say. Make sure everyone knows not to be in a hurry to sign. There is no rush!!! Being patient thus far has paid off so lets see what more we can do.

Permalink Reply by Jay on July 18, 2008 at 5:32

I emailed a friend and she said only three people in Lucky Estates, plus the Montogomeries (that owned all that land and still own quite a bit) have not signed.

Permalink Reply by SoBoRes on July 18, 2008 at 6:42

Gray Sands, thanks for the info and I mean no disrespect by my response. We are in no hurry to sign anything with anyone. Every mineral owner sitting in and around (no clearly defined boundary that I've seen nor believe) decides what he or she will accept from O&G in their lease. I don't expect to get rich from the bonus but given the production amounts released by a wellhead 5 minutes south from our area (Elm Grove) I'd expect the relation between the two to correlate within the offer. I guess we will just have to wait a bit longer for the middleman and O&G to be fair.

Risk, if the risk wasn't worth the payout they would all just pack-up and move on. Remember, stats show this shale to be the 4th largest in the world. Quite a bit larger than the shale in Ft Worth and offers here aren't close to what they have reached there unless we are talking state, parish land and they get annual bonuses until production. I think I'd like that too... : )

Permalink Reply by zmike on July 18, 2008 at 6:51

In your last paragraph YOU HIT THE NAIL ON THE HEAD!!! I wish everyone would realize that. I have noticed some people being screwed by their own GREED.

Permalink Reply by SoBoRes on July 18, 2008 at 7:49

Just got off the phone with Gulf Stream O&G (Encana), initial offer over the phone was 10K and within five minutes of hanging up the phone we received a call back saying they would go 15K per acre. I told him that I would share this information with the group but that we plan to gather as a group and work from there.

He did ask that before we accepted anything with anyone else to give them the opportunity to counter (have his contact info). He agreed that it would be in Encana's best interest to lease the remaining minerals in this area as they already have 50+%.

Permalink Reply by Brenda Howell Cb4 on July 18, 2008 at 8:09

Has anyone had any of the companies tell you that they are fixing to stop leasing for awhile, so if we are interested in leasing we should get in now? Just trying to see if we are being played.

Permalink Reply by mom of 3 on July 18, 2008 at 11:27

They say this everytime they make an offer. Don't believe them! They told us that when we got our first offer of $300/acre and now we are at $15k/acre. They are very sneaky and they have been known to lie.

Permalink Reply by Brenda Howell Cb4 on July 19, 2008 at 4:08

Thank you so much.

Permalink Reply by Bobi Carr ("parker") on July 18, 2008 at 12:19

I received a call today offering me 17,000.00 with 25% for property in the section South of the Orchard.

I am not interested at this price.

I will get you contact info if y'all are interested at that price.

Permalink Reply by Bobi Carr ("parker") on July 18, 2008 at 12:43

I had not solicited an offer.

Permalink Reply by SoBoRes on July 18, 2008 at 15:50

Thanks for sharing Parker. I know that we (speaking for my family only) would not be interested in 17k. Our plan is to accept nothing less than 28-30k per acre and 28-30% royalties provided O&G cover all extraction, processing and transport costs.

Considering estimated value of the shale and the amount paid to people who leased already in our section ($200 to $300 per acre with 3/16 royalties), they will still make a fortune.

Permalink Reply by Bobi Carr ("parker") on July 19, 2008 at 5:48

I agree with this price range. I CAN WAIT.

Plus they saved over 10 million on my first lease alone. Seems like they should have a litte extra spending money to throw around.

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