Replies to This Discussion

Permalink Reply by Tom Johnson on September 26, 2008 at 10:08

Yes, CS, I hadn't been in here for a few days, and just left a reply in the Chesapeake and Shelby Co. discussion, for Charmine and others about a news release I picked up in a free newsletter I get from API Smartbreef, and verified thru a link directly to CHK's website. The CEO, Aubrey Mcclendon, stated due to a glut in the market of nat. gas, CHK was cutting back on drilling expenses by 17%, and would hold off on new gas drilling untill late 2010. Now I wish I had signed at 4K/25% we were offered in July, but held out due to a family member needing the $ more than I. Sooo, you raise a very valid point, and maybe I now know why we didn't get a counteroffer for so long. I believe any of us that still have a valid/fair offer should act on it, good luck, Tom

Permalink Reply by Charmine on September 28, 2008 at 5:06

Please explain KB...they cut back elsewhere, but not on leasing? Maybe I need to go back and reread the article, it was a few long days ago! Thanks for checkin' in on us Texans KB!

Permalink Reply by Charmine on September 28, 2008 at 5:15

Well yes, my nose would be growing if I said I wasn't worried! Trust me, I am a worry wart anyways. This is one particular subject that I cannot worry about though. Too much not in my control. All I can do is what I can do on this one, and try to do it to the best of my ability. I'm not so sure it's because of CHK's announcement though. I kinda thought that this would happen anyway. The only thing certain about the econonomy right now, is that something must give eventually. We won't get to see until after the first of the year what our new president is really capable of pulling off. As much $ as these o/g companies have put out, and as much land as they have leased, it seems like it is now time to work that land and give their pockets a rest...bottomless or not. So yes, I'm worried or maybe just dissappointed that I may have missed the boat. BUT, hopefully it comes around again and I will have used my time wisely and educated myself to be ready for it. It's all I can really do at the moment, because surely just throwing my minerals to them in desparation will not bring me anything that can better my future. I'm practicing that virtue of patience still!

Permalink Reply by CS in TX on September 29, 2008 at 4:24

Any word on what Devon has been up too lately? Are they still buying leases?

Permalink Reply by Gone Fishin on September 30, 2008 at 15:07

Devon is leasing a lot of land between center and timpson up to tenaha and down to pinkston. I know for a fact they are paying at least in the 5000/acre range. My wifes uncle just leased his to devon. Chesapeake is also leasing but mostly on the east side of center. Their 3d must be looking good. I expect with all the talk about alternative fuel and all the adds about cng, next year it should look pretty good. Not worried at all, the gas and oil is not going anywhere. Let em prove the fields and then we'll see how things go.