Replies to This Discussion

Permalink Reply by Ann W. on October 30, 2008 at 9:14

I agree. KB provides very helpful information!

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Permalink Reply by Bobi Carr ("parker") on October 31, 2008 at 5:33

Earl,

I have to agree it's KB hands down.

I don't like this ranking stuff. Anyone who spends more than 5 minutes on here can figure out who to trust by reading a few of their posts.

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Permalink Reply by Rondolyn Robinson Hawkins on October 30, 2008 at 8:51

My family signed leases for $200.00 per person. I urged them not to sign but had an uncle that told them he ran it past an attorney and that it was okay to sign. Some family members are now kicking themselves about not holding out for more money.

Additionally, we have owned this land for over 60 years and had a lease previously with Crystal Oil/Mallard Drilling. When it came to gathering information regarding the drilling they were doing on the land, they had not answers and claimed that they did not owe us anything. I just wonder how many other families have dealt with such happenings.

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Permalink Reply by Michael78 on October 30, 2008 at 9:31

Do all you folks really believe that it is the O&Gs responsibility to educate us? To everyone not involved, all this whining really just looks like sour grapes.

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Permalink Reply by The_Baron on October 30, 2008 at 9:46

Many people assume that a landman is going to tell them everything. The reality is that they are trained to be secretive, mostly to ward of the blockbusters. NO company wants the competition to know whats going on, whether they build cars or eplore for oil and gas. (anyone evewr pick up a copy of Motor Trend to see the photos taken of the secret test cars for the car makers?)

Most landmen are just given an area to work and little other information. Most work for a broker who is the go between for the landmen in the field and the client.

Some landmen couldn't read a well log to save thier lives, much less make educated geological interpertations.

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Permalink Reply by The_Baron on October 30, 2008 at 10:35

You can't blame the grunts on the ground though can you?

Besides the o&g companies have a fidicuary responsibility to conduct their opertions at as low of a cost as possible.

Besides the royalty was always meant to be the real reward. The bonus came about as an incentive to sign since it may be years or never before royalties show up.

With Chesapeake being the 800 pound gorilla, bonuses for leases that include the HA will be whatever Chesapeake says they will be. Wait till the holdouts that are force pooled start complaining about how horrible it is, and how they wished they signed for only $5000 an acre.

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Permalink Reply by Lynn on October 30, 2008 at 10:33

Actually Michael I do feel that "some" O&G companies took advantage of people. If the formation was duly defined prior to these leases "we" as non O&G professionals would not have been privy to that and I actually signed in April 2008 for 150.00 an acre through an attorney that said this was a good deal. Come to find out this company was not even a drilling company just a leasing firm.

To me it is like insider trading. One party having the upper hand before the bell rings.

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Permalink Reply by bigbelly on October 30, 2008 at 10:51

Lynn,
Would you mind speaking to me about your situation on the record? You can call me at 459-3266 or email me contact information so I can call you at bobbieclark@gannett.com.
Thanks,
Bobbie

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Permalink Reply by Lynn on October 30, 2008 at 13:50

Let me think it over please Big. I really believe that it is a necessary story to write about and I wish it had been done sooner. Some of these leasing companies hide their "relationships" with these drilling companies and before you know you are in a bidding war with the same company all the time thinking you had control.

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Permalink Reply by Snake Stewart on October 30, 2008 at 11:04

I agree partially with you Lynn but I also have to agree with Michael to an extent as well. It isnt the O&G's responsibility to educate us. Even tho they spend millions of dollars after the fact to make it appear that they are educating us. Its just a little silly for them to revolt on the "greedy" landowners after they find out that they have been getting hosed for years.

The royalties were always the rewards because landowners didnt have the insight that they do now and the O&G's hadnt ever been openly honest about the values of the minerals before.Only until conference calls and Stockholder/Investor meetings did "Joe Mineralowner" get a look into what this thing was really all about. Looking forward to those royalty checks from the skies is almost like dangling the carrot in front of the mule. The royalty isnt where the money is if they just want to HBP. If you take a smaller bonus in the hopes of speeding up the O&G's into drilling , you are actually putting your faith in someone who doesnt care about you. Dont care what the infomercials say, they dont !

Back to the education part Mr.Bigbelly , Where exactly was the Shreveport Times back in March? Or where have they been since then ? Have you actually counted the numbers of original articles about this play other then the ones done by Ms. Wellborne ? A good read would have been how the Times had actually done some investigative reporting and helped inform the readers of their paper, instead of asking the readers of its paper "What the heck is going on with this shale thing?" You are more then welcome to quote me on that. Have a good day and good luck with your story. There is enough story out there to take up 3 months worth of newsprint. I am just sorry that your paper wont let you print all the ugly true parts.

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Permalink Reply by bigbelly on October 30, 2008 at 11:23

Can you give me specific information about what you would have liked to see us write stories about?
We've done countless articles on the Shale. All of our reporters have, not just Vickie, although she is the resident expert.
Your input will definitely help us define our coverage.
Thanks,
Bobbie

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Permalink Reply by bigbelly on October 30, 2008 at 11:32

I appreciate the input. What are some of the major issues we should investigate?

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