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Permalink Reply by J Todd on July 17, 2008 at 12:11

Ray,
I was at the meeting and talked with Steve Thrower myself. First, he is NOT a landman, nor a representative of Chesapeake; he is a negotiator from Basin Management gp, a financial co. based in Okla. (see their website) That means he will want an exclusive contract to negotiate for a price on your mineral rts. and collect a commission (similar to having a real estate agent.) Also, he told me he was NOT promising everyone any certain amt. of money. It depends on many factors, e.g., whether you reside on the property, the geologist report, etc. He said they were INTERESTED in land with a 5-mile radius but never guaranteed a thing. Beware of the high prices he is quoting. I have mineral rts. in Township 19N and much of it has already been leased (earlier this year) for hundreds per acre. That means, once they get 320 of the 640 acre section leased, they can force us to take the top dollar they've paid others which may be less than $1K per acre. I've checked this out with friends and relatives in the business who have no vested interest in what we decide, what co. we lease to, etc. You can't beat the saying: If it sounds too good to be true, it probably is. So do the research like I did, go to the courthouse and get a list of all of the mineral rts. owners in your section and find out how much land has already been leased. I don't see any other postings which indicate they were personally offered the opportunity to sign a lease for $18k/acre. Are any such people out there???????