Replies to This Discussion

Permalink Reply by LYT on August 7, 2015 at 14:15

Lease has been executed and bank draft has cleared the bank.  I spoke to my timber management company and asked them to research exactly which property was being leased due to the coordinates not matching.

 

 

Permalink Reply by Skip Peel - Mineral Consultant on August 7, 2015 at 14:21

If you can give a location description by nearby roads or distance from a known location such as a town or intersection I can probably get close on the correct section but that may be sufficient to determine the township and range.

Permalink Reply by LYT on October 16, 2015 at 5:57

Sorry i did not reply sooner - have been to figure out exactly what is going on with this lease.  Turns out the property that was leased I do not have  record of because my grandfather did a 99 year lease with Weyrhauser (sic).  So the timber managment company did not have a record of the property.  The coordinates for the property are Township 15 North Range 4 West section 11(the west half of the Northwest Quarter (W/2 of NW/2).  We recieived $2500/acre for 3 years with a $1600/acre option after the initial 3 years.

Permalink Reply by Skip Peel - Mineral Consultant on October 16, 2015 at 6:12

Thanks for clarifying, LYT.  Please post the royalty and the name of the company on your lease.

Permalink Reply by Skip Peel - Mineral Consultant on October 16, 2015 at 6:29

That's a help, thanks.  If the lease contains the important protective and beneficial clauses then you have a good lease.

Permalink Reply by CW on November 11, 2015 at 5:59

Has there been/will there be any drilling activity in this area?

Permalink Reply by Skip Peel - Mineral Consultant on November 11, 2015 at 6:23

There are no "live" well permits anywhere in Jackson Parish at this time.  As to "will there be?", there is no way to know that without having access to proprietary information.  Quitman is a long way from current discernible development interest. 

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