Replies to This Discussion

Permalink Reply by intrepid on October 14, 2009 at 8:55

That was a good sized jump in their offer. Please keep us posted and thanks for the update!

Permalink Reply by king john on October 15, 2009 at 0:12

no doubt, that is what makes me so sure somthing is coming down the pike. i check every couple of days but so far no new permits have been posted. i wonder if the existing well were going to be recompleted, what type of permit would have to be filed and also how would it show up on the interactive map on the trc website. this is a verticle well that ip'd around 12mmcfd, wonder what recompleting it as a horizontal would do? makes me all tingly just think'n about it !!! lol
kj

Permalink Reply by intrepid on October 15, 2009 at 10:25

On that well that ip'd 12mmcfd.......when was that and what is it doing now?

Permalink Reply by king john on October 16, 2009 at 4:11

2008 - Jul 2009

Date GW Gas (MCF) Condensate (BBL) Operator Name Operator No. Field Name Field No.
Production Disposition Production Disposition
Sep 2008 83,587 83,587 0 0 DEVON ENERGY PRODUCTION CO, L.P. 216378 STOCKMAN (COTTON VALLEY) 86233300
Oct 2008 648,049 648,049 0 0
Nov 2008 558,879 558,879 0 0
Dec 2008 436,305 436,305 0 0
Jan 2009 307,763 307,763 0 0
Feb 2009 190,660 190,660 0 0
Mar 2009 173,672 173,672 0 0
Apr 2009 128,477 128,477 0 0
May 2009 100,146 100,146 0 0
Jun 2009 76,685 76,685 0 0
Jul 2009 79,263 79,263 0 0
Total 2,783,486 2,783,486 0 0

Permalink Reply by king john on October 16, 2009 at 4:19

here is a link to some intial data on the well.
kj
http://rrcsearch.neubus.com/esd-rrc/index.php?_module_=esd&_act...

Permalink Reply by king john on October 16, 2009 at 4:51

they are calling this a cotten valley well, but its too deep and too big.
adubu thinks this area may be part of a formation called the pinnacle reef.
kj

Permalink Reply by adubu on October 16, 2009 at 10:17

The reason their offer increased was because either the county appraisal district increased value or your yearly royalty income increased from 2007 to 2008. These companies like San Saba get copy of the tax roll of all oil & gas owners from the county clerks office on a CD that has owner's name, % interest each well, and tax appraisal value. Presently the new tax roll was released in July 2009 for the year 2008 value. They calculate offer on muliple of production or tax appraised value usually 3 X roaylty last year of record income or appraised value which is very under value offer because does not calculate future well and different formation reserves possible in unit and future increased value. They will usually buy more royalty when oil & gas prices drop and royalty check decrease in some cases as much as 90% so their offer look good to some in need of money and they get taken for future prices increase and more wells are drilled. Or they will hit on Heirs that just recently receive minerals in will and the check looks good without any knowledge of value the minerals have.

Permalink Reply by king john on March 2, 2010 at 4:06

i just got another offer for the same well, but with a little twist this time. also the offer this time is from a company out of dallas called universal royalty company ltd. this offer is for the future royalty from one well where as the other offer was an offer to buy the entire mineral acres. here are a few reasons "they" think now is a good time to sale...lol
1) wide fluctuations in gas and oil price
2)cash lump sum payment
3)elimination of tax burden
kj

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