Replies to This Discussion

Oil & Gas ProPermalink Reply by Dion Warr, CPL on August 11, 2008 at 2:52

Jane:

It would appear that you're out there on the eastern / northeastern fringe of the productive Hosston, Cotton Valley, and Lower CV production in Elm Grove.

Have you talked to Jay (shalegeo) about where you might be located in the HS "fairway" yet, or if there may be geologic features which may cause problems underneath your property?

He seems to be a pretty experienced and reliable source, and he might be able to better explain your lack of lease activity.

Oil & Gas ProPermalink Reply by Dion Warr, CPL on August 11, 2008 at 4:37

Whoops...

You already did ask Jay for info.

Good thinking. Let's look for his response.

Oil & Gas ProPermalink Reply by Dion Warr, CPL on August 11, 2008 at 6:36

OK, now that I've done some digging and Jay has responded...

Let's talk. If you're interested, leave your email on my page, and I'll send you my info for you to contact me.

-- Dion

Oil & Gas ProPermalink Reply by Dion Warr, CPL on August 12, 2008 at 19:11

Jane:

Things appeared to have picked up for you pretty quick.

First offer @ $15K/25%? Excellent.

What do you need me for?

I might have a couple of tips on what you could add to lease provisions, but apparently your phone calls have paid off.

You might want to call prior to this wknd. I spoke to your "other half" before he had to leave yesterday, and he mentioned that this wknd would be a good time to call. If you're meeting on Friday, this might be too late for advice.

At any rate, congratulations. You appear to be ready to get your chips into the big game. Good luck to you, and remember: if you hold out for taxes, and treat the rest like an unexpected Christmas gift, you'll be fine. It's when you start budgeting for this stuff that you get in trouble.

-- Dion

Permalink Reply by Jane T on August 17, 2008 at 3:45

We havent signed with anyone yet. We got an offer from Chesapeake for 20/25 on Friday. Petrohawk said they couldnt match that let alone beat that offer. They are going to write up a lease so we can take it to our lawyer, but nothing is set in stone as of yet.

Permalink Reply by Susie on August 13, 2008 at 6:22

What about on the Caddo side. Is Sec.34 17N 13W in Elm Grove or Cedar Grove. Town South Estates, West of Youree. A producer is 4.1 miles from us on the corner of Lenard Rd. and Youree Dr. but no one has been contacted. Our street with 30 houses is not in a HOA. $$$$$$$$$$$

Oil & Gas ProPermalink Reply by Dion Warr, CPL on August 13, 2008 at 19:48

How long have you owned, and do you own your minerals (could it be possible that a developer owns them)?

The only well I find near you is a Rodessa well. No permits for deep wells (HS or other) in the area. Maybe I'm looking in the wrong place??

Permalink Reply by pal on August 17, 2008 at 4:46

Jane,
I have been offerd 20/25 for 3year with 2 year option from CHK last week.
s35, 16n, r11w. Petrohawk was at 15/25, 5 year.

Permalink Reply by Jane T on August 17, 2008 at 5:41

Pal
That is the same offers we have been given by both companys. We are
s28, 16n, r11w are you leaning toward taking the offer?

Permalink Reply by pal on August 17, 2008 at 10:44

I don't know. I think will counter and see what happens.

Permalink Reply by Jane T on August 17, 2008 at 11:11

I have never been good at bargaining I hope I have the nerve to do the same. 25/25 would be great, especially since we dont have quit the acrerage as we thought we had.

Permalink Reply by pal on August 17, 2008 at 11:24

It may be a risk, what with all of the talk of companys pulling offers off of the table. I have heard of 25/25 but do not know anyone that has got it. Some say ih this area we should be at 30/30, I don,t know.

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