Replies to This Discussion

Permalink Reply by Brett Allen Morgan on January 21, 2013 at 10:26pm

I will be there Elnathan. From what I have heard M&P will be giving Halcon and CX an ultimatum to pay by Feb 18th or release those unfunded from CX Market agreement and Lease. That is just the word on the street. I also spoke with a woman today who said her husband spoke directly to Jeremy from M&P and he told her that Haclon refused to pay anyone in Sandy Lake or Stoneboro because a meteor that hit 1000's of years ago and damaged the shale???? I find that crazy if it is true>> at any rate I will ket you know what transpires at the meeting wednesday

Permalink Reply by Elnathan Cory on January 22, 2013 at 10:45am

I am willing to bet Halcon won't even respond to the ultimatum. A law suit forcing them (Halcon) to pay would seem inevitable. It will be a long and arduous fight but might set precedent in this area.

Meteor? I would love to see documented proof of that.

Permalink Reply by Brett Allen Morgan on January 22, 2013 at 9:42pm

The gal I was talking to said there is some sort of class action suit in the works......but even so...as you said that would be a loooong drawn out event I am sure.

Permalink Reply by Elnathan Cory on January 22, 2013 at 9:56pm

If you are near or on the Lake Twp border you should contact Hilcorp or Western Land Services. They may be willing to lease you. Hilcorp has a lot of leases in Lake Twp the primary reason Halcon rejected Lake Twp in the first cherry pick! If CX lets you out of the agreement I would be on the horn to WLS in New Castle office pronto!

Permalink Reply by Samuel J. Orr on January 23, 2013 at 8:57pm

Brett: I am patiently awaiting your post about what went on at the M&P Grove City meeting which started at 7 PM. The site needs to be livened up with new information and hopefully some good news!

Permalink Reply by Elnathan Cory on January 23, 2013 at 9:10pm

Let's hope for some new direction for the members that are left out of this boom.

Permalink Reply by Brett Allen Morgan on January 23, 2013 at 9:53pm

Hello Gang!!

I am fresh back from the meeting that was held tonight at the Grove City High School. Before I do my best to fill you all in I want to say upfront that i was thoroughly impressed and pleased with the way Reps from CX and M & P handled themselves and the flow of the meeting tonight! Truly very very pro!!

First of all it was made official that all further bets are off with Halcon. Basically if you didn't get funded for one of the many "Trivial" reasons Halcon has given, you are NOT going to be. Much of the meeting was conducted towards the Sandy Lake/ Stoneboro area. It became evident to me as the info began to unfold tonight that CX/M&P did EVERYTHING possible to get everyone's titled cleared and even when they cleared up the gas storage fields issue in Sandy Lake/Stoneboro Halcon came up with a new reason to not fund........wait for it .....get this .... because a meteor hit that area MILLIONS OF YEARS AGO and damaged the shale formation...... Yes after a huge gasp in the audience this was brought up in conversation a few more times with the audiences giving a chuckled response!!

After laying out where things stand CX/M&P began to unfold the plan to make good on their end of things by shopping for new leases that would be as good as the Halcon deal. Most in the crowd though disappointed, seemed wiling view this as an opportunity to "Have their cake and eat it too" as it was put by one of the spokesman from M&P. CX and M&P also said they were willing to let folks out of the Marketing agreement with CX if they so desired.

One thing I learned early on in the eve.....off to the side... was that a sometime in November 2012 a landowner hired an outside law form to sue Halcon for breech. This law firm forced M&P into the situation of lead witness in this suit....... it was at this time that Halcon quit playing nice and basically just picked up their toys and went home. I did hear class action law suit being thrown around, thus the "cake and eat it too" perspective.

As for my personal situation.... I had a nice private conversation with Jeremy Stragand prior to the meeting and I am happy with his suggestions on how and where to proceed from here. I was especially satisfied to look this bright young man in the eye and let him know that while I understand the immense pressure he has been under, going forward I will NOT tolerate poor or NO communication....... Hey once we got that solved we were like old hunting buddies.

I hope this helps you all...... I did the best I could with what I remembered and how I remembered it!!

Permalink Reply by Brett Allen Morgan on January 23, 2013 at 10:23pm

Oh...BTW.... I actually saw  IN WRITING the statement from Halcon concerning the meteorite thing....... and it did say..... "Millions of years ago" ...how absurd...just saying!!

Permalink Reply by Elnathan Cory on January 23, 2013 at 10:25pm

Thanks for the quick and thorough update on the meeting. I hope CX finds a lease for the landowners now left out in the cold. In any case I think there will be a lease in the future for everyone in Mercer county. Everyone has a lot of valuable gas under their land in this area.

Permalink Reply by Brett Allen Morgan on January 23, 2013 at 10:35pm

I agree Elnathan. Looks like Shell even though the refuse to work with kand groups, will be a big player in my area and who knows what company CX will attract when they hit the O&G conventions in Texas and Pitts in the next few months. Looks like the Sandy LAke Stoneboro section has the most to gain if they can hold it together. They have a huge chunk of land put together that will be very attractive if CX can indeed get it in front of the right people

Permalink Reply by Elnathan Cory on January 24, 2013 at 7:33am

The chunk of land that borders me is drilling unit size and is contiguous. It is in Sandy Lake Twp and I am in Lake.  I believe that is very attractive and won't be surprised if it is leased soon. I hope Hilcorp leases it. Unfortunately they probably don't want the whole Twp. CX is going to have to piece this out to whoever can use it. 

Permalink Reply by Samuel J. Orr on January 24, 2013 at 12:22pm

Brett: Great job of reporting on the M&P/CX meeting in Grove City. I am however puzzled by the phrase "looks like Shell even though they refuse to work with land groups"...! What is your source that Shell won't work with land  groups?  If this is so I would like to see a comment from Jim Litwinowicz on this, or someone else connected with M&P and/or CX. If what you are saying is true, and Shell is the dominant player in a particular area, it would then seem that a landowner would get no or very minimal benefit by being in a landowner group?? I am not questioning your integrity, but just trying to get the necessary facts to help me decide best course of action for myself. You are doing great work with your informative posts. Please continue posting!

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