Replies to This Discussion

Permalink Reply by nisie, not a happy camper landowner on July 18, 2008 at 6:55

What section is your land located in?

Permalink Reply by sfd971 on July 18, 2008 at 8:30

We are in 16n 16w Sec 22

Permalink Reply by lifesaver on July 18, 2008 at 8:50

%4 is not a whole lot of money to have an experienced oil and gas attorney to negotiate your lease? Answer this QUESTION PLEASE... What would you expect to pay an attorney to help with the lease and clauses you are talking about?Give me a ball park figure of what's the most you would pay on your part?

Permalink Reply by sfd971 on July 18, 2008 at 9:29

I was told today by a participant in a Greenwood neighborhood that pooled together and hired an attorney to review their lease and add desired clauses for a $2500 flat fee which was split by the neighbors. That is the only dollar figure I have heard of currently for this service. Our part of that would be split between participants.

As for the negotiating of the terms, that was handled by a nominated person in their group. They settled for 22,500 an acre. I personally like the idea of a committee, but I will go with the decision of all involved.

Permalink Reply by mary on October 3, 2008 at 16:55

Hi, I own land near Greenwood and would like to speak to you about your lease. Thanks, please e-mail me at rentalpropno@gmail.com

Permalink Reply by Laman_71106 on July 18, 2008 at 11:09

Lifesaver, I guess I'm a little confused. Aren't you on board with GEM Explorations and is Mr. Merrill now an "experienced oil and gas attorney" as well as owning ice cream shops and being an experienced geologist? Forgive me if I misunderstand your position but surely would agree that everyone has a right to organize in the way they wish to organize. Just as you have decided to go with the hired services for your purposes these folks have apparently decided to do something different. No one has asked you to justify your decision and I suggest you should no ask them to justify theirs. I wish them well and very honestly believe they will do as well as anyone else.

Permalink Reply by nisie, not a happy camper landowner on July 18, 2008 at 9:29

For my acreage 4% would be $5000 and my oil & gas atty quoted $2500.

Permalink Reply by nisie, not a happy camper landowner on July 18, 2008 at 9:31

Also, did you see another discussion about all unleased from different sections forming a coalition?

Permalink Reply by Rosana Dana on July 18, 2008 at 9:40

I live in Woodpine subdivion.We are getting a group together and may
have about 80 acres.One of our neighbors has had an offer of $15,500
from Chesapeake with 20% royalties.He said we can get that or more.
He has the most acreage in the neighborhood .We are going to have a
meeting soon. Anyone in our area is welcome to attend.Your acreage can
be anywhere and we can all pool together.I will post the meeting place and
time as soon as I know.

Permalink Reply by sfd971 on July 18, 2008 at 9:56

Rosana,
Let me know when and where you have your meeting for Woodpine, I will let my neighbors know. All of us may be able to possibly merge our acerage into one group.

Nisie,
Are you in our area also? I agree about the fee of $5,000 on the 4% figure it adds up quickly. I would like to know which atty you used. I am like everyone else and am trying to educate myself on the ins and outs concerned with leasing.

Permalink Reply by Rosana Dana on July 20, 2008 at 13:51

Susan,
I will send out an email and open invitation to those interested
in attending.I'll keep you posted about any new info I hear about.

Permalink Reply by Susan on July 20, 2008 at 5:16

Rosana,
I also live in Woodpine Subdivision. I rec'd a flyer yesterday about getting together with neighbors, are you part of this group? Please let me know when you have the info about a meeting place and time.

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