Lou, I am not an expert, but have attended like 5 different meetings, the swiss hills landowner group has signed with ILG. They are not drillers they are a company that looks & buys leases & then resells @ a higher price, Was at a meeting yesterday where some people were saying that their is concen with their abilty to pay the upfront fee, and if they can't sell & pay the Bonuses within 90 days tthe leases are voided, bottom line is they tie up your property for 90 to 120 days which they have to get you your bonus money. If they sell or have the money your good otherwise your back to square one, I understand it is safer to sign with the Driller/ oil co. like XTO exxon or Chesepeke, Also there have already been contracts Signed @ $3700 per acre & 18% Royalty as I hear it.
JUst my opinion but if you haven't signed I'd wait a little longer, I joined a landowner grop yesterday, Eastern Monroe landowners led By John Lusk on this site,
Lou, I agree with Tom and Brad this is a shoot gun approach on ILG to bail there self out. Plus there contract is not land owner friendly.
Our Oil & Gas Reserves is a valuable commodity we must market them as such. They want them they must deal with us. All this is going to take time to develop. Don't rush into this. Get informed time is on are side join a group in number we can help each other and we become stronger.
Is this offer good in monroe county as well?? Is this really true, 3850 at 18% ? Is this the
gross off top for the royalty? thank you
Did you sign a contract with market enhancement? That like 9% royalty. That company? Now much bonus?
Good information, what is the unit size of this contract?