Replies to This Discussion

Permalink Reply by Lotza Spotz on June 25, 2008 at 6:32

Snake, I too am concerned about forced pooling. I've already got two of my neighbors steamed at me for not signing the proposed Twin Cities Lease in the Dogwood Subdivision in Haughton. It appears our Homeowners Association negotiated the following deal:

1) 25% royalty
2) 3 year primary lease term with 2 year option. The option payment will be equivalent to the primary term.
3) $8,750 per net mineral acre signing bonus (if 90% or more of Dogwood Homeowners lease to Twin Cities)
OR
4) $6,000 per net mineral acre signing bonus (if 80% or more of Dogwood Homeowners lease to Twin Cities)
OR
5) $5,500 net mineral acre signing bonus (if less than 80% of Dogwood Homeowners lease to Twin Cities)

We have until July 14th to sign, or else -- what? That's my concern, or else forced pooling? Granted, I only have a normal sized lot, probably around 1/4 acre, but on principle, I don't like being pushed, having Twin Cities manipulate neighbor against neighbor, etc., creating a false sense of urgency, all of that. Plus, if I sign, I want to sign a lease directly with the O & G company, and not with the go between developer. Am I being unrealistic? I am willing to risk going without a bonus check on principle, not that I readily turn down $2-$3K every day, but this pressure being put on us makes me very suspicious of everyone in that business.

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Permalink Reply by SBossierGuy on June 25, 2008 at 11:05

Lotza Spotz,

Your HOA didn't negotitate this lease. This is Twin Cities' new strategy. They offer more to get all / most of the neighborhood to sign with them. Your HOA should go to Petrohawk or one of the other companies and try to get an offer. I agree with you on being pressured - your HOA should negotiate as a group, get bids (plural) as a group and then let you decide. Twin Cities pushing these terms is like the cart pulling the proverbial horse.

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Permalink Reply by Snake Stewart on June 25, 2008 at 12:51

I didn't even know they were still around after all the bad press!(twin cities).
I guess when you get results, you get results.Big O & G aren't in a popularity contest with us.If they were ,they wouldn't send in these guy's to do their talking.They want your land! As cheap as they can get it! They don't give a rip about any of you or your land.EPA regulations are what dictates how much care and concern they show you and your property.

Question? Are you going to have to pay them if less then 80% sign! They would make more money if fewer signed ????????? Come on people!!!!!!!

If your neighbors are willing to give their rights away, there isn't much you can do for them! Do not let them pressure you.And no, I am not talking about Twin Cities,I am talking about your neighbors! If this "pitiful"Haynesville Shale Offer thats tied to a time table has your folks upset enough to lean on you in this manner,I wish you the Best in your future endeavor's cause you struck out on picking your neighbors.

If your HOA is endorsing this proposal,I would certainly hope that someone could slow them down long enough to get better informed.This is not a good current offer and the longer it takes to get right the more it is going to cost them.As updated numbers come out it will only drive prices up.If they were not sure of this they could wait and see.If they have a majority of the section ,go ahead and drill.Start leasing after you know more.That isn't going to happen.

Without sounding too judgemental or insensitive, if you live in Dogwood ,you live in a real nice neighborhood!(housewise anyway). A couple thousand bucks isn't going to make or break you ,now is it? I don't feel that most could live in as nice an area without some financial sense about them.It has certainly failed them sofar in this situation.If someone is ready to sign,then sign.On 1/4 acre lot,the difference from top bid to low is $815.50.If your neighbors could sweat you for that, it may be time to move!I may could find you some land out here in the country,without mineral rights of course as we will not be "giving" ours away!It is your God given right to do what is best for you and yours!When your neighbors start paying your bills I feel they have more of a right to tell you what is best.

If you tire of your current situation and feel that you can't be represented by your HOA nor your loving neighbors, we would be more then happy to try to find someone near that feels the same way you do!If not,we would be more then happy to have you with us in South Webster.We have property all over the Shale in numerous parishes.

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Permalink Reply by Tracy on June 26, 2008 at 13:20

I bought my place in rural S. Bossier at the beginning of November and I do hold the mineral rights. I was just curious on what you mean on the unsigned owners being "pooled".

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Permalink Reply by SoBoRes on June 27, 2008 at 2:42

Tracy,

Here is a link to discussion regarding "Forced Pooling"

http://haynesvilleshale.ning.com/forum/topic/show?id=2117179%3ATopi...

Might help answer any questions you have.

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