Accept the offer or wait...

Spoek with the land man last night, and was told that the offer is 16,500 an acre with 25% royalty (which is up from the previous offer of 20%) from last week. He said that this was it, take it or leave it. Our group has gotten together an organized, and we now need to decide what to do. We are T16 / R13/ S28,
was told that Camterra was the only company interested in our area, has anyone heard of other companies in this area? Looking for a little advice.

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Permalink Reply by easttexas12 on August 8, 2008 at 2:47
Ask Camterra if they have the ability to drill a Haynesville Shall horizontal well and if so to show an example. If they have the ability to punch the well/s then ask them if they have the resources (money, rigs, crews etc.) to handle it. Are they wanting to flip this lease?
Just my 2 cents
Permalink Reply by Hopeful1 on August 8, 2008 at 3:04
What information that I have found so far on the company is that they can't drill horizontal yet, and I do believe that they are trying to flip the leases. I have seen the offers in Fort Worth, and truly I think we should wait, but the company is trying to divide and conquer on individuals in the area by telling them that if they drill the well (which they don't show a well site yet on sonris) the individual will be left out.
Permalink Reply by P.G. on August 8, 2008 at 2:50
Maybe they are stalling as well.
Perhaps the O&G companies have figured they, in the competition frenzy, have bitten off more than they can chew! (More money than sense)
I mean, as it is now, how will they be able to drill enough wells fast enough to hold on to the leases they already have? Maybe they're dragging their feet to slow things down a bit so they can catch up. And of course if someone bites their lower offers.....
Permalink Reply by Hopeful1 on August 8, 2008 at 3:06
They have actually gotten some of the "elders" in the are to sign at that offer, but only about 10 people. I hope we can stay organized.
Permalink Reply by Iris on August 8, 2008 at 2:53
Another 2 cents...Offers are up to 30 thou an acre in Ft Worth from a relative who works on Barnett shale...wait...someone else will be along sooner or later.
Permalink Reply by Hopeful1 on August 8, 2008 at 3:06
Just hope its sooner than later

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