Replies to This Discussion

Permalink Reply by intrepid on April 24, 2009 at 14:11

Have they done seismic tests recently on your property? If so, the plan may change based on the results. Keep the faith.

I was in Center today and noticed seismic cables and boxes laid out in residential neighborhoods.

Permalink Reply by Laurie on April 25, 2009 at 14:21

As I said earlier, Petrohawk contacted me about a month ago to re-lease my area that is set to expire in July. If they have abandoned the area, what would be the purpose? Is it make sure that no one else goes in there are is that they may intend to drill later, and maybe that isn't the case today but was then. The lady who contacted me said that it didn't matter who I leased to, they would just buy the lease...what do you think that means...?

Permalink Reply by LJW on April 26, 2009 at 15:15

Laurie, What you are telling me does give me some hope. Our lease is actually with a small company named Pinkston Energy. Petrohawk is in a working partnership with them. We signed a lease with them originally in the fall of '05. Around the time that all the Haynesville activity started being in the news last year, we were contacted by the landman who worked with us on the original lease wanting us to release to them. After months of negotiating, we agreed to a 14 month extension with improved bonus and royalty. We knew that they had already begun preparing for the Lane and Bowers and decided after determining they were in a working relationship with Petrohawk to sign the lease extension. Our goal was to get a well drilled hopefully. We think we did the right thing at the time because the bottom fell out of the economy shortly after signing and we knew we had them on a short lease. As for what the person with Petrohawk said, They are probably trying to get enough acreage together to make up a unit. Who are you leased to now? I wouldn't be in a hurry right now. If you can, try to find out who around you are leased and to who. If it is not one of the major players, then she is right, they probably will buy the lease. Let me hear from you if you are contacted again. Linda

Permalink Reply by Laurie on April 26, 2009 at 17:08

sure I will be glad to let you know if we are contacted again but I am also a pinkston lease...and I think that petrohawk bought their intrest because when the 2yr option came up, I received check from petrohawk. I do hope you are right and that we will be in a unit and a well will go up but from what I have heard on this sight here of late, maybe not...guess time will tell..Laurie

Permalink Reply by Carter on April 29, 2009 at 17:29

Thanks for that update. I felt like if the results were encouraging, HK would have announced it the last time they had a press release. Instead, there was no mention of it and the focus was on other areas. Nice to get some confirmation on the ground.

Permalink Reply by LJW on May 8, 2009 at 7:30

Has anyone else out there read the Petrohawk Energy Q 1 2009 Earnings Call Transcript that was just released this week? I thought it interesting that in the beginning someone stated there are "no dry holes here" but then later, when asked about results in areas other than LA, they avoided answering specifically about them. Not one word about the 2 wells drilled in Shelby. They did mention briefly about encouraging results from the area that they are collaborating with EOG on. I just found the drift of the conversation very evasive. Maybe that's just me. Of course a lot of the more technical conversation was way over my head. I am praying they haven't given up on us. Let me hear your comments about it if you read it.

Linda

Permalink Reply by Les Bamburg on May 8, 2009 at 7:57

Linda, I interpreted their evasiveness as a sign Petrohawk may be trying to pick up additional acreage in East Texas. It seems they would not want to "tip their hand" to the competition and create a bidding war.

Permalink Reply by LJW on May 8, 2009 at 10:31

Les B, I think you are right. I just don't believe they have completely given up on our area. At least that is what I am hoping. Keep me posted if you hear anything new.

Linda

Permalink Reply by Carter on May 12, 2009 at 14:10

Good analysis by Linda & Les. I viewed it more from the standpoint of bad news, since HK has always got on the horn when they've had strong wells to report. That being said, a lot of the noise over in Elm Grove or Desoto Parrish could be on HBP or leased acreage where they have no reason to keep quiet.

The Hawk has soared in the markets since hitting a low back in Oct. 2008. My work is showing a pull back of at least 20% is on the horizon. I hope they are stalling on good news, because they will need it when the pull back hits.

http://www.screencast.com/users/divergence/folders/Jing/media/341cd...

http://www.screencast.com/users/divergence/folders/Jing/media/9e1d8...

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