Replies to This Discussion

Permalink Reply by John Patman on January 25, 2011 at 16:00

I see some action in the Belmont area too. What you might do is check out the UMO portion of this site.  Take 100% of royalty minus the cost of drilling and piping it to folks.

If you lease you get $ now and 25% of the gas they pump. Remember that the drillers need to make money too. and this is where they get their money having you sign a lease for some cash now and one forth of the royalty.

Just a thought!

I too was contacted buy a land man group saying that he was from CHK.

Who contacted you?

Permalink Reply by Lobster on January 31, 2011 at 8:46

Thanks, I'll take a look at the UMO section.  I was contacted by landman saying he was from CHK as well.

Permalink Reply by Henry on January 31, 2011 at 13:24

Lobster,

Would you and John Patman mind telling us how much the offers were from CHK?  Thanks.

Permalink Reply by John Patman on January 31, 2011 at 16:44

 Still working on the best #'s on this. I will let you know as we get it sign in ink. I am getting a lawman and a landman to work it out. As soon as I get it leased I will let you know! (unless I have to sign a gag order). Remember it all depends on the future guess of gas prices so what I get today can be quite different than say 3 years ago.

johnpatman@yahoo.com

Permalink Reply by John Patman on January 31, 2011 at 17:49

I got an e-mail today from a landman giving me is first bid.

Here is a copy of it! He did not ask me to not share this info so here you go!

take it for what it's worth.

Remember this is his first offer. May go up and may go down. it all depends.

PS don't tell any one. hint hint!

__________________________________________________________________________

Mr. Patman, 

Our authority is currently $2,500 per net mineral acre for a 3 year primary term, and $2,500 per net mineral acre for 2 additional years at Chesapeake's option. The royalty is twenty-five percent (25%).

Thanks

LUCAS S. WILLIS, RPL

P.O. Box 82285, Lafayette , LA    70598

1018 Harding Street, Suite 205-A, Lafayette , LA   70503

Main (337)967-1329 Email lucasshanewillis@yahoo.com