Replies to This Discussion

Permalink Reply by jffree1 on December 27, 2011 at 5:45

Lucas put out a presentation that had a map showing the "approximate location of the horizontal wells" and a search of the GIS map reveals that these wells do not exist or are just "planned".  See page 10.

Attachments:

• TrinityCountyMonumentProspect.pdf, 1.2 MB

Permalink Reply by shale in europe on December 27, 2011 at 6:32

I think there is a lot of pretend around the Lucas story. No permitting yet by the operator. Logically you would invite as many interestees to your leases as possible if you are entitled to a NPI. In this case strangely that hasn't happened for 2+yrs. The party that received 87.5$mln doesn't use that for investing in exploration, but pushes forward an empty shell company on the stage, which then subsequently has to arrange finance to start drilling.

Question is what are the rights of the NPI if this exploration company doesn't perform? And, why are there no other companies invited to drill on the acreage, as it surely is sizeable! Also, why doesn't mr. TK invest in drilling, as he made a huge margin in between the landowners and AJL (www.hotcopper.com.au)

Permalink Reply by Dry Hole on December 27, 2011 at 7:05

Europe,

 Am afraid you might be correct -- I did not want to be the first to say it  ---- He has raised enough extra money to start several wells but now claims he needs more before he can drill ---- I think someone  is searching the BLM (Federal) to see what TK might have filed as many of those leases were BLM (US FOREST SERVICE) ----- lets wait on that report.

  Some of your questions are for an attorney to answer and we should avoid giving you advice about your rights etc.  and I suggest we avoid using names on this public forum ------ as to the question about why no farm-out? = these shale plays are large and companies can still go out and do their own deals instead of working under someone else with lower margins.

  Europe, it might be helpful if you would include a link to the EXACT FORUM PAGE in that website that you wish us to read.

Permalink Reply by dbob on December 27, 2011 at 7:17

Based on the Schedule of Proposed Actions available here:

http://www.fs.fed.us/sopa/forest-level.php?110813

 

If they are planning to use federal surface, they haven't made it very far in the process.  Let me see if I can dig up anything else.

 

Permalink Reply by shale in europe on December 27, 2011 at 7:31

just go to www.hotcopper.com.au and then go to the AJL (=ticker symbol) area; this gives all forum discussions on AJ Lucas. Some are on the monument prospect.

Agree in terms of using names; unfortunately the corporate entity name was never used only the name of two private individuals that signed for the deal (mr Tom E Knowlton and mr. Allan Campbell), after which they transfered the rights to their respective corporate entities. I have to assume this is normal business procedure in the US? In europe we would not do this, as it may reflect badly on transparency to stakeholders.

Permalink Reply by Dry Hole on December 27, 2011 at 19:23

Europe,

 Took a long look at Monument Threads on Hot Copper and began to realize that the concerned shareholders of AJL are in over their heads -- looks like you guys have opened a can of worms. AJL is responsible to its shareholders and should investigate and push this project along. It should not be the responsibility of the individual shareholders to push TK.

  The forum said that TK or his son can be linked to BASA ?

  Are the Dollar values given in USD  ??

 

   If it is any comfort most of us in this forum have seen large leases taken by respectable companies on a regular basis and NEVER DO ANYTHING -- happens all the time-- we mineral owners are just left wondering why any company would go spend millions on leases and never drill. But we are on the receiving end and not the paying end ---- we also know that when our leases are flipped that someone makes a handsome profit off our mineral contracts.

 

Permalink Reply by jffree1 on January 24, 2012 at 3:35

I just found a new listing on the Forest Service site and it is for a well pad southeast of Apple Springs.  Tekxon appears to be working on permits for two wells.

Map: http://a123.g.akamai.net/7/123/11558/abc123/forestservic.download.a...

Letter:

http://a123.g.akamai.net/7/123/11558/abc123/forestservic.download.a...

Permalink Reply by Dry Hole on January 24, 2012 at 6:07

Thanks jffree,

  My understanding is that some or most of their leases will be expiring soon or up for renewal /extension but I also understand that these BLM leases can be held on paperwork issues ?  I am kind of like Europe in that I have had a bad feeling about it from the start.

  If Boscoe is right about most of Trinity county having only Dry Gas Production then that alone will doom this project for now as gas is at rock bottom prices.

Permalink Reply by dbob on January 24, 2012 at 14:27

I don't buy the idea of dry gas only in the shallower sections - Maybe stuff like Leor's, but not something more modest.  I'm willing to bet this is going forward, provided there isn't an issue with the woodpeckers

Permalink Reply by Dry Hole on February 28, 2012 at 13:49

Europe,

 Understand that Tekxon has surveyed 3 total pads South of Apple Springs a year or more ago ------- 2 are near Helmic and one is near Mt Zion cemetery -------- ALL projects have been held up waiting on approval of USFS.

 Hear that all 3 pads were to be on private land but the Units would take in some BLM/USFS so this has triggered environmental studies ---------- DOES NOT MAKE ANY SINCE to study the above ground effects of a hole that is 2 miles deep. Maybe dbob will tell me I am wrong here ----- lets hope so.

Permalink Reply by dbob on February 28, 2012 at 14:07

Dry Hole - at least one of the locations is on USFS, and that should take 6-12 months from the date their environmental work is complete, and a complete APD with drilling/casing plan is submitted.  

Private land sites, provided no cultural resources, wetlands, or T&E species issues should only require BLM approval, and can be approved within about 90 days of submission of a complete APD and the environmental work.    Key here is "complete" because incomplete will cause processing to stop, and minor problems can put a project in an almost infinite question/response.  My crystal ball at the agencies aren't sharing anything particular about the applications, but my guess is that they haven't made much progress.

Permalink Reply by dbob on August 15, 2012 at 13:02

NewHere

No specifics of Lucas.  My best contact suggests Tekxon is intentionally drawing out the approval process for its well site to keep the lease active and from reverting to the federal government.  The implication being is that Tekxon either doesn't have the funds or the knowledge to go it alone.  I still think there spot might be in a  good area, but its going to be a complex operation to pull it off.  

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