From what I understand after asking some questions is they were hired by an O&G company to acquire acreage and will get a commission for what they bring in. But the lease you sign is with a O&G company. They are just in charge of bringing Landowners forward.
So if you sign with an O&G company, and not VP Ventures, you are signed with a driller and not a flipper.
They told me they would be holding a signing event where everyone signs at once, they take the calls to get parcel data and that type of information to make the signing event go smooth.
This makes sense to me- everything is transparent, everyone gets the same deal, nobody thinking someone got a better/worse deal than the next person.
OK, a new year has begun. Does anyone in Monroe county have anything new going on.
Bill, where do you get your figures at for the majority of 100,000 acres in Monroe county. I have friends and family all over Monroe and our 130 acres in Monroe and I only know of one 250 acre track that signed with Phillips. Noone I know has signed with XTO/Exxon. I do have friends that signed with XTO in Belmont a few months ago and they have received their money. The beck deal Is 25000 acres or so but the land owner got screwed their I believe.
Tom are those 40 new leases in Monroe and are they left overs fron 2011. XTO told me they werent doing any new leases for awhile in Monroe. Im sure the beck deal was in the works for a long time. Im in adams township and Phillips had alot of acreage and leases end in the last few month. All my neighbors where with Phillips but only the one I mentioned earlier resigned. Some with the LA group and some waiting on Des.
Bill, tell me more about this Utica Landowners LLC. Are they the ones from Lewisville
I attended Des’s meeting last night He announced a deal completed for Monroe county & all I can say for sure is I just don’t know, The announced deal completed for Monroe county is $4,900 & 20% Gross royalty, He said the money has been agreed on, the Lease has been agreed on & my commission has been agreed upon. If this were the first time I’d be dancing a jig. But I walked away not sure if this is any different than the last time that he had a deal & nothing came of it! Sounds like the same old song, I have a deal but give me some time. cant belive he would stand up there & tell us I have a deal after the last 3 times without a shred of paper to show us.
He said it’s on the CEO’s desk for his signature and he’s flying in to meet with me on Monday. He said my attorneys been talking to his attorneys & that’s the problem we need to be talking. That doesn’t sound like a completed deal. I always thought that until all the signatures are on the paper and it’s notarized it’s not a deal.
I got an update from a friend that attended the Belmont meeting he said Des has a done deal signed sealed & delivered, there were no leases to review but he said probably would have for the Woodsfield meeting, I made special arrangments & a long drive to be there, but again There were no leases to review at our meeting. He said the deals done but just finalizing some wording and would get us leases to review in a couple weeks. I’m sorry that does not sound like a done deal to me?
I’m wondering why we had the meeting at all to tell us again that we have an almost deal but just wait! Why not do that in an e mail, the best bet is after past deals falling apart why not wait till the ink is on the paper & do people still shake on a deal If so then the hands have been shook. Then announce here’s the deal, here is the lease, and we will start closing on this date. My Mom always taught me never count your chicks before they hatch.
So I sit here wondering is this over or not? All I know at this point is I've been disapointed before and I’m not putting all my eggs in one basket, if while I’m waiting another deal comes along with another group or even with a company direct that is better, the same or even close I’m going to take that deal rather than sit here for 2 to 4 weeks and be disappointed again.
Yes we were there too. I don't necessarily think he is doing a bad job but maybe just a little lax in communication. I do think he is working for us and not against us. And, honestly, there has been no other contacts so .... we wait and see I guess and hope for this to be the truth.
Yes was there and yes what you said was true. But obviously from your name we are all in the same boat. I sure don't think we're sinking but we are going very slow!
It is an opinion, not a fact, but everytime another group gets close to signing a lease, Des makes a similar claim. I think his annoucements are an effort to keep people from jumping ship. If you can actually get a lease from him - Great! - I've heard this story time and time again, its like the boy who cried wolf, its just hard to have faith at this point.