Replies to This Discussion

Permalink Reply by MJ on April 18, 2013 at 3:55pm

Dumpster fire?

Really?  Marcus - I know personally that way more than half of the BP leases went thru - and the ones that did'nt had problems with their bank with mortgage or did'nt have clear title for some reason or another. This information is free at the trumbull county recorders website Lets keep to facts please - not opinion (educated or otherwise).  Thanks you for your mostly informed posts however.  I am simply trying to learn...

Permalink Reply by 0i7okn54zwbdo on April 19, 2013 at 2:43am

If you saw the mess that the BP/ALOV deal made for a lot of unsuspecting landowners you'd understand.  Those people were flat out lied to by pretty much everyone involved from start to finish. 

Permalink Reply by MJ on April 30, 2014 at 5:40am

"ALOV was a total dumpster fire in Trumbull County"

Looking back a bit Marcus.  Good thing those folks took the Alov deal when they did eh? At least some of them "won the lottery" and got a piece of the pie.  I know Bob Rea got his...  

Permalink Reply by 0i7okn54zwbdo on April 30, 2014 at 6:22am

Some of them had to spend money on title "defects" and still didn't get paid.  This whole thing shook out exactly as most of us thought it would.  A lot of landowners got paid, which of course would have happened even if they hadn't joined ALOV, assuming they were in the right area.  But hey, at least Rea got to make a fortune and look like a hero. 

Permalink Reply by MJ on April 30, 2014 at 6:47am

Small parcel landowners at least had a chance to lease.  Without a group, only larger parcels would have been eligible.  Often wondered why Bp just did'nt target a few larger parcels for the test wells.  And, like you said, Rae is now a gazillionaire or something...

Permalink Reply by 0i7okn54zwbdo on April 30, 2014 at 8:12am

You never drill before you have your leasehold at least x% of the total volume.  Every company has a different policy, but you'd never drill a few test wells because if you did and then you went out leasing again everyone and their mother would know your wells were good and the landowners would hold you up everything that's not nailed down.

Permalink Reply by Mark Allen on April 18, 2013 at 4:39am

Close u r, but not quite.  The answer 2 Gracie Mae question,  maybe found within the author of the forum.

The facts r in the closing and the terms of the lease, no one should ever file a memorandum unless a consideration is paid,we say no filing til paid in full..the concept is simply an engagement letter to allow the consultant the ability to market a group of like minded mineral owners in a landowner group format.

professional, experienced and one of the 1st in the state to successfully educate and close. The art of slowing folks down,allowing the thought process to open and take one's eyes off of bonus dollars. Some say ''he educates''....some say ''he preaches'' most say ''he leads''...........bottomline is he's heading your way.

Marcus, there r no bets here, just the facts.  I agree there have been some flippers and a few missed opps in this region, we were asked to come in 2011; we told the folks then that the window was not yet open, after the latest drilling and the reports from those operators, we feel the time is now.

Timing is crucial, but nothing is more important than actual data and proven reserves.    

Permalink Reply by 0i7okn54zwbdo on April 18, 2013 at 5:03am

I've seen the geology in northern Trumbull and southern Ashtabula.  There's nothing there that tells me it's worth investing huge dollars in.  I'm not alone, either.  In fact that opinion is the vast majority.  If you're going to tie people up for an unknown amount of time then you're making a bet.  Call it what you want but let's acknowledge that what you're doing is gambling with other people's time.  I'm an uber-capitalist, so I'm cool with that.  But let's not play games here.

Permalink Reply by James Kerns on May 30, 2013 at 8:06am

Hi Gracie, and all other shale landowners here. Stopped in to see whats going on around here. I am very excited to see some pipeline projects getting started. I did very much like the comment about maps being very speculative in nature at this point. In my humble opinion, very little is known for sure about the Utica formation in Trumbull, Ashtabula, and Geauga counties at this point. The Geologist know top of formation and bottom of formation depths on average, and very little else for sure until siesmic testing and actual well logging and core samples are done as they drill, on a well by well basis.

There is much to be excited about i believe, but we do all need to cool it a little on being armchair drillers, and let the Industry do their jobs. Lets just be content to protect our land and the enviroment from bad practice's and poor operators, and stay optomistic and pray for good things for our area.

Gracie, i feel for you when you speak of your financial condition and desire to sign a lease, i would just caution you about who you place your hope in, and urge you to go back as far as you can in these post and read up. alot of free knowledge, but beware that not everyone is a friend or without an agenda. Best of luck to you and all others who missed out of the first round of leasing. 

There are many here who are helping out with good intentions, but i quit coming around for a while because things were getting a little too negative, too much name calling and troll activity. I hope that has run its course.

 I have heard BP is still leasing in select areas, as are others i am sure. I would urge you to not sign any lease from a landagent, without good legal advise. I personally would ask for a copy of one of the ALOV leases, or one based on same. They laid the groundwork to get us landowners good protections with a win-win for both parties involved.

Well gotta go for now. The Bonus money from BP was just the cash infusion i needed to get many of my projects funded, so i have lots of work to do. Best of luck to all, Jim

Permalink Reply by Black gold on April 18, 2013 at 2:26am

I have a good idea Gracie send me a pm and I will tell you.

Permalink Reply by john p halloran on April 18, 2013 at 2:29am

Talk to Bob Rae!!! I'm with him till June 30.

Permalink Reply by GRACIE MAE on April 18, 2013 at 4:14am

Do you know if he is still accepting people until 6/30? or everybody that already signed with him just has to wait until 6/30 to get info on deal he's made? How come I'm not reading on here of people signed with him recently? He did, what appears, to be a great job for ALOV members, are there just not that many landowners left out of that 84,000 acre lot to be signing with him? Not that far away from 6/30....things ought to start buzzing on here again.

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