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Comment by Lessor on November 19, 2008 at 2:10

Double dittos. Absolutely.

Comment by JWC on November 19, 2008 at 1:58

Thanks for the update jffree1. Good information. We appreciate you.

Comment by jffree1 on November 18, 2008 at 18:17

Lessor,

405-30237 FOSSIL RESOURCES, INC. (278844) COWBOYS GAS UNIT

A friend let me look at his rig locator. He's a hotshot operator. Depth info and drilling days lets vendors know about how long a rig may remain at any particular location but not all well operators give out that info. It just happens that this one did. And, if/when I do see something of this nature it's not always timely...sometimes (usually) it's already weeks or months out of date. Luckily, my timing was good, in this instance.

Comment by Lessor on November 18, 2008 at 16:54

Jffree do you happen to know the API number for the Fossil Resources well in the J. J. Hennis? Where did you find the 10,880' number as far as their current depth? Any info is greatly appreciated. And you are SO right about terms. Right on the money. It's now or never.

Comment by ALongview on November 18, 2008 at 16:40

Thanks again jffree! This is so true about the importance of good terms. The terms can affect the next 20 years and you may only get one chance at it.

Comment by jffree1 on November 18, 2008 at 16:23

Here's my latest grapevine news (which came from a landman in Hemphill, and I promised not to say who):

Devon is finishing up all leasing for the 2008 budget. When the budget funds for 2009 leasing are released, they will begin a new round of leasing in Sabine, San Augustine and Shelby Counties.
EOG is also at the end of 2008 budget looking toward 2009. More active in San Augustine than Sabine. Doesn't look like they are leaving the area anytime soon.
Crimson is still in Sabine (don't know about SA) but are in reduction mode. Have let go of some office space.

No word yet on what offers will be like in '09. EOG has already dropped theirs to 2500.00/ac. in SA Co.. Don't know if Devon will follow suit or maintain their 5K of '08.

IMO, yes the bonus is imporant. But, getting a good lease with terms that will pay additional for roads, well pads, pipeline, etc..., good (25%) royalty (low or no cost) with a company who intends to drill and produce is MORE important. JF

Comment by JWC on November 18, 2008 at 15:51

Thanks for the update. Maybe after the first of the year they will pick up some more land in the Z Redmond and A Hotchkiss surveys.

Comment by jffree1 on November 18, 2008 at 15:41

ogmladvisor:

Fossil Rsources is in JJ Hennis A-139 permitted vertical to 14000, drilling 10,880 as of 11/14.

Comment by Norwood, W on November 18, 2008 at 14:37

Our family has land in Z Redomond but has had no news from EO&G at all since.. I've sent an email to EO&G for a status of what they are doing but it was ignored..

Comment by ALongview on November 18, 2008 at 12:50

I didn't personally lease anything in either abstract but Devon leased some in the summer in A Hotchkiss and in Z. Redmond. Also, Eagle Oil and Gas leased in Z. Redmond. I believe this acreage was part of what Eagle was tryng to sell at auction not too long ago.

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