Comment

Comment by Whitt on March 24, 2010 at 11:18am

So we have seen prices in the Barnett get upto 25K so I totally see where we are going to get to 35K. There is absolutely no logic behind this statement at all. There is supposed to be 3 times as much gas here but it is my understanding that the formation spreads over about three states and the Barnett spreads over a few counties. That would lead me to believe that the formation in Texas might have a more dense shale creating larger wells to come online. I have been doing some research comparing the two and I think that James might be waiting another 3 billion years before he signs a lease if this is what he is expecting. I am going to wait till I see more activity with the horizontal wells from some of the major players in the area but I sure would not sign with some outfit that does not have a lot of equipment and a lot of experience. Those are my main issues. I would also take serious consideration when signing a lease that I know the operator has a good record and is not some small outfit just looking to flip my lease to some random company.

Comment by rmc on March 23, 2010 at 5:37pm

each person or group needs to define thier objectives and goals before starting negations with a company We got the 20 percent gross royality on a maxium 120 acre unit per horizatal well in our lease and I've no doubt that in 5 to 10 years that the bonus will at least double and the royalitys will probably hit 25 to 26 percent depending on what the state and federal goverment do and thats scary cause they are hurting for new tax income But we deicded to sign cause when you figure likely royality payments on 120 acre units a well that produces 5 million cubic feet of gas day at 5.00 dollars a thosand comes to about 15000. dollars of royality per acre per year like I said eveyone has to decide for themselves thats enougth for me .One thing for sure I wouldnt sign a lease for 50,000. and acre with out a drill scheudle or some sort of a gurantee of wells be drilled on stated unit sizes

Comment by Nancy Famiola on March 23, 2010 at 3:46pm

Whitt,

James doesn't know what he's talking about. Read my rebuttles to his comments on this thread and I think you might understand.

http://www.gomarcellusshale.com/forum/topics/why-sign-now-when-the-...

- Nan

Comment by Whitt on March 23, 2010 at 3:28pm

I understand that the gas has been here for a billion years but I haven't been making anything off of it for that long. I know that it won't go anywhere unless I have someone develop it. I am waiting to see where the prices are going to go over the next few months but I don't think 35K is realistic. If you can give me some info on where you have come up with this figure and where you see anything that proves this to be the case I would be interested.

Comment by rmc on March 20, 2010 at 4:42pm

It happened to me Grandfathers last will and testament was probabted in New Jersey and filed there and never filed in PA It left the mineral rights under 120 acres in richhill township to my father without that last will and testament those mineral rights would have been split amoung many many many heirs Of course doesnt matter if you want to believe me or not we already formed our group did our homework and signed a 5 year lease with AB Resource for 5000.00 dollars a acre 20 percent gross royality with the first well to be drilled this year company filed for permit last week Bottom line do youre own homework you dont have to be a genuis just able to read

Comment by rmc on March 20, 2010 at 9:23am

Hi folks in respones to the last comment make sure you have everybody do a deed search before they join youre group cause theres lots of people that think they own the gas rights and dont .someone sold them in 1850 or they where deeded to youre grandfather in another state and deed work was never filed in county where property is located . All that is required by pa law to detrimne ownership of mineral rights is a deed search in the county where the property is located . If there was a deed filed somewhere else or a last will and testament filed somewhere else it is up to the owners or there repesntation to prove it so do youre homework on this before you start negoatation the terms of a lease most companys wont do a deed search until after you sign a lease.

Comment by Martha Ann Murray on March 20, 2010 at 1:18am

I will be contacting you soon. I spoke with my attorney friend in my hometown today (in Oklahoma) and he said NOT to sign up with an attorney in Pa. (I have been contacted by an atty in Waynesburg who wants to ride with us and give advice for 8%). My friend here said to just sit and wait....the oil companies will find YOU. Do you have an atty?

Comment by Martha Ann Murray on March 18, 2010 at 11:37pm

why is no one posting? Did this forum fizzle or what?

Comment by Martha Ann Murray on December 12, 2009 at 4:13am

I live in Oklahoma, but have an interest in Greene County mineral rights on 92 acres. Just wondering what's going on up there...

Comment by Matthew Burns on December 11, 2009 at 10:56pm

The Rice 1H ut around Jollytown is Southcentral Greene County

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