I'm a lawyer for Mission Plantation, the surface and 25% mineral owner. They have unleased 100% acreage half a mile to the North.
I hope the well(s) do great and I'm optimistic, but I'm just trying to address these rumors. I don't think Etoco is a front for anyone, and while the wells may be very successful, IMHO they won't be comparable to the HA wells.
I'm all for people waiting if they can, especially to the South. I think with budgets exhausted for the year, the declining price of nat. gas and the need to develop and produce some of these leases prior to expending more money, that the interest level has declined. I still think that from a strictly economical standpoint that in the areas where there is proven HA that you may see the holdouts get 25k to 50k in the end, but the companies will put that off until they get ready to drill. They don't feel the burning desire to pay exorbitant sums for acreage they may not be able to get to or that may not be as prolific as other acreage.
That's my 2 cents and it is probably not any better informed than anyone that hangs out on this board.
I've always been told that there was good Shale pay to 19N, so this is not that surprising, but it is nice to see. We are at least 3 miles north in the northern portion of 23N. Again, we shall see what these Clements wells do when they get online (waiting on pipe).
We do have some interest from a shady, highly unprofessional "landman" named Gary Bajon (with Mustang Exploration?). Never had such bad first impression of a landman in my life (and I used to be one). I think he has a big chip on his shoulder and tries real hard to pull that poor country boy thing which is a crock in his case. Because my foreign clients wouldn't sign his basic lease form (with no agreed upon bonus by the way) that day, without me saying anything derogatory, he hung up on me on our first conversation! That definitely proves that he is someone you never want to do a deal with. Avoid that guy like the plague.
Tom,Joe here. They don't have all the info on the Hall # 5 yet,should be any day now to get more info. When they go lateral alot can change for the better or worse. We'll just have to wait and see. Right down the road next to my Sec.10 ( missed me about 500ft.! ), the E & L Devolpment #1 which they drilled Back in August-Sept. is sitting on 5500lbs. vertl. Ihave a feeling they might lateral that one next. Equipment already their, treaters,etc. I work on the O.R. at WKPt. work late hours. will let you know whats next when I can, Joe.
Andrew
I have found some interest, but nothing really reasonable.
Sep 8, 2008
WHuguet
I hope the well(s) do great and I'm optimistic, but I'm just trying to address these rumors. I don't think Etoco is a front for anyone, and while the wells may be very successful, IMHO they won't be comparable to the HA wells.
Sep 23, 2008
WHuguet
I'm all for people waiting if they can, especially to the South. I think with budgets exhausted for the year, the declining price of nat. gas and the need to develop and produce some of these leases prior to expending more money, that the interest level has declined. I still think that from a strictly economical standpoint that in the areas where there is proven HA that you may see the holdouts get 25k to 50k in the end, but the companies will put that off until they get ready to drill. They don't feel the burning desire to pay exorbitant sums for acreage they may not be able to get to or that may not be as prolific as other acreage.
That's my 2 cents and it is probably not any better informed than anyone that hangs out on this board.
Sep 23, 2008
WHuguet
I've always been told that there was good Shale pay to 19N, so this is not that surprising, but it is nice to see. We are at least 3 miles north in the northern portion of 23N. Again, we shall see what these Clements wells do when they get online (waiting on pipe).
We do have some interest from a shady, highly unprofessional "landman" named Gary Bajon (with Mustang Exploration?). Never had such bad first impression of a landman in my life (and I used to be one). I think he has a big chip on his shoulder and tries real hard to pull that poor country boy thing which is a crock in his case. Because my foreign clients wouldn't sign his basic lease form (with no agreed upon bonus by the way) that day, without me saying anything derogatory, he hung up on me on our first conversation! That definitely proves that he is someone you never want to do a deal with. Avoid that guy like the plague.
Oct 20, 2008
fngrsxnpd
Feb 1, 2009
Joe Dyer
Feb 16, 2009