Any more ALOV updates

We have property in Trumbull County and have been told by ALOV two more weeks but they have said that 3 times.  I am concerned about the length of time it is taking versus what they said it would take.  Has anyone else heard that they are promoting somewhere around $4000 or $4500 an acre and around 18% in royalties.  I have also heard people in the area  say that those per acre prices will start coming down as the companies expand into Trumbull County.  We have had interest at $1500 to $2000 per acre and 15% royalties and the ALOV proposal has more but I am not sure if it will really come true.

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Replies to This Discussion

Permalink Reply by time will tell on March 4, 2012 at 7:10am

You want to know another thing that will drive our prices down and reduce our chances of getting a well put in "" FOUR MORE YEARS "" .

I hope every one sees this and fires those who are responsible . 

Permalink Reply by Jeff Cleer on March 4, 2012 at 12:57pm

I would be completely happy with $3600/acre. This negotiation was huge. There are probably numerous tracts that have no hope of being drilled. 10 acres here, 5 acres there, 15 acres over there, not really adjoined to anything bigger. These smaller plots are a loss for the O/G company and they know it. But they're still part of the group. I also believe that if there were more to be had, ALOV would have gotten it. I trust them completely, and I believe they've done the best they could do for us. Very excited to get the real info. to see what the numbers really are. Got my fingers crossed that Trumbull will get a bunch of wells!

Permalink Reply by Craig Stull on March 4, 2012 at 3:31pm

Jeff, I talked to better than a dozen ALOV members today after church today and told them what they thought about 3600 an acre and not a one of them will sign for this low offer. They wanted to know about the royalty percentage and I told them I did not know but many of them will accept nothing less than 20%. Also A few of us are talking about forming are own smaller land group in the township. Best of luck to you.

Permalink Reply by Jeff Cleer on March 4, 2012 at 3:59pm

Greed, pure greed is what it sounds like to me. JMO. We'll see what happens I guess. I just hope all these people that want more more more don't end up with nothing in the end. I wish the best of luck to everyone too.  

3mfqdrnrij9iaPermalink Reply by 3mfqdrnrij9ia on March 4, 2012 at 4:13pm

Craig, If this offer is 3600/acre take me with you to a smaller group.  As far as greed is concerned, I just don't want to be taken advantage of, so we had better be at least in the same zip code as the last counties that signed.

Permalink Reply by Susan Johnson on March 9, 2012 at 2:02am

Even if there is an offer from ALOV at $3600, my understanding is that whoever the G&O company agreeing to the lease can cherry pick the parcels it wants to use.  So even if there is 60,000 acres some people may not get the signing bonus.  Has anyone else heard that?  Although its great to have a bog number of acres to present, what if the O&G company doesn't want some of the parcels.  Are ALOV leases all or nothing in terms of the acres presented.

Permalink Reply by Finnbear on March 9, 2012 at 4:18am

Ask Bob Rea of ALOV / Buckeye Mineral Development that question

Permalink Reply by DLB on March 7, 2012 at 1:27pm

ALOV website is back but doesn't seem to have any new information.

Permalink Reply by Susan Johnson on March 5, 2012 at 8:29am

I have read a lot of posts about Chesapeake buying up old Trumbull County leases - what about Enervest.  I see their name everywhere.  They apparently bought our old leases in 2009.  Does anyone know if they have a working relationship with Chesapeake?  Just wondering how Enervest is playing into all of the recent activity?  I also heard Chesapeake leased property near 534 and 87 to tie into a pipeline or something like that.  Anyone familiar with it?

Permalink Reply by dr j on March 6, 2012 at 3:22pm

Susan, 

Chesapeake and Envervest are basically a joint venture.  Consider them the same entity for all intents and purposes.  

Permalink Reply by Susan Johnson on March 7, 2012 at 2:16am

Thats what I thought - thanks for the information.  In a lease assignment for an old well on our property - I read the document where the O&G company selling had an exhibit A where they indicated all the leases they were selling and an Exhibit B where they showed all the interest in wells they had that were being sold.  Our well appeared in Exhibit B but we did not appear in Exhibit A.  My question is would that indicate that the only acres HBP would be around the well itself since the lease for the entire acreage is not listed in the exhibit.  hopefully this doesn't sound too confusing.

Permalink Reply by Finnbear on March 7, 2012 at 2:27am

Were you personally the ones that signed the lease or was it a previous owner who leased the property?

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