Oil and Gas Lease Offer

I recently received an Oil & Gas Lease Agreement from ILG Energy - does anyone know if they are legit?  They are offering $3,000 per acre bonus, plus15-1/2% royalty, and $4,000 per well drilled on your property.  I have 32 acres in Center Twp.

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Replies to This Discussion

Permalink Reply by Monroe Co Landowner on September 2, 2011 at 10:24am
Correct me if I am wrong, but I though the unit sizes are 160, 320, 640, and 1280 acres.
Permalink Reply by chris bauer on September 2, 2011 at 10:29am
Sorry thought you ment group size don't remember contract. In my truck
Permalink Reply by Monroe Co Landowner on September 2, 2011 at 10:38am
Maybe some one else is reading this and will answer my question, don't worry about is.
Permalink Reply by chris bauer on September 2, 2011 at 12:09pm
640 acres to 1280acers was pooling size
Permalink Reply by time will tell on September 6, 2011 at 6:26pm

is this legit and how could they be contacted ?  3850 and 18%  

Permalink Reply by chris bauer on September 6, 2011 at 6:31pm
Signing Thurs.the8 Sept and 9 at centerville senior center
Permalink Reply by time will tell on September 6, 2011 at 6:53pm
thank you Chris ! do you know the name of the company and are they in both monroe and belmont co .
Permalink Reply by chris bauer on September 6, 2011 at 6:56pm
Nals land group signing with wishguard
Permalink Reply by Thomas Hall on September 7, 2011 at 2:00pm
Are they still an open group or have they closed?
Permalink Reply by chris bauer on September 7, 2011 at 2:54pm
Still open I think
Permalink Reply by Lawrnece J. Carmalt Sr. on September 11, 2011 at 9:56pm

The best advice I can give to you is to get a lawyer who is familiar with oil and gas leases.   That way you can make an intelligent decision.

 

Permalink Reply by michael j belaj on October 2, 2011 at 10:39am
That is not a very good offer I do not know who ILG Energy is I will check them out Mike

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