I'm new to "gomarcellusshale", as well as new to this business. We have a 152 acre farm with "Clinton" gas wells which supply our needs.
We've been approached by Fossil Creek Energy Corp (FCEC) for $50/acre, 12.5% Royalty, and $10,000 if a well is drilled. We are sitting on the Utica Strata. I've carefully read the lease and am very suspicious of the terms. We are consulting attorneys. I don't see any members from Noble County..and some interesting notes from Guernsey which lead me to suspect the FCEC lease. Can they broker a lease after signing "cheap"?
We have news of ARTEX Oil offering leases in our County, they're out of Marietta. Any comment on FCEC, ARTEX, and my suspicions would be welcomed!
Went to Des Wertheimer's meeting in Caldwell this evening. Talk about facts & figures! He wants to assure Noble County that it's oil shale is prime and he wants to form as large a group as possible, including ALL townships. He says the entire county is very valuable and people are being misled about what's there or not there in various spots. Also, he does not take any % of your bonus or royalties. He negotiates for the landowners and whatever we are paid, the oil company pays him a fee for the leases/acres he brings to them. He takes nothing on royalties. You can join his group, and you can leave it anytime, no questions asked. He has leases you can take with you to study. He sounds as knowledgeable as any others I've listened to. He's going to hold a number of meetings and wants all of Noble County he can get to sign on with him. His next meeting is next Thursday, 6:00 at the Community Center at the Noble County Fairgrounds. I hope everyone in Noble County sees his ad in the Leader or reads this and decides to go hear him. I think he's more aboveboard than the group I've been in. He believes patience is our biggest problem and wants to take the time to put together a group large enough to swing some weight and also to represent all of us who thought we weren't going to be part of any valuable negotiations.
Judy: Just saw your post and I'm wondering, is the meeting in Caldwell at the Comm. Center on October 20? It was hard to tell the date of your post and I want to attend a Noble Co. meeting. I was at one meeting recently and Cunningham canceled shortly before the meeting was due to start. Hope to attend one in Caldwell as soon as possible.
Did you decide to go this route? I tried to call Chris when we talked last to get your number, but he was with a customer & never called back...