Replies to This Discussion

Permalink Reply by Philip Brutz on August 31, 2014 at 2:40pm

How much are they offering?

Permalink Reply by Donna M. Thompson on August 31, 2014 at 3:04pm

Hello:  I also have acres in Guernsey County, Center Township and have waited for a lease offer since my original lease from Shell was cancelled.  I have had an offer of $8,000 per acre but really would like to lease instead but can not find any companies that are leasing in my area although just about everyone around me has been leased or their Shell leases sold to American Energy.  There are several of us that were missed on the first go-around.  I am 88 so can not afford to wait forever.  Ha. Would certainly love to find a company that needed us.  

Permalink Reply by GW3 on August 31, 2014 at 8:49pm

Donna we also have acreage in center twp.. How long ago was the offer of 8000/ acre that u recieved?

Permalink Reply by Donna M. Thompson on August 31, 2014 at 9:12pm

It was just last week but had to sign a letter of intent which the landman said he was not fond of.  I did not follow up because I am not interested in selling.

Permalink Reply by Joseph Fischer on August 31, 2014 at 6:08pm

Only had a letter or two sent asking if I wanted to sell my rights but I never contacted them also had couple lease offers but they never went through.

Permalink Reply by Mike Sero on September 2, 2014 at 12:00pm

Hi Donna and Joe, I have a direct contact with AEP if you'd like to email me your info. Yes, I'm and independent Broker and have a contract with them. Nothing to hide, not sure what they are offering currently in your area but I can find out and get specific info based on where you are.

Honestly, never sign letter of intent to a buyer - all it does is let them go out and try to sell it. Ties your minerals up for a specific period of time. Most letter of intents of outs - basically saying "we've changed our mind" and walk away.

Sign nothing but Purchase agreement!!! Basically saying only out is if you don't own your minerals - they do have the right to pay off any encumbrances on your property Liens, taxs, etc...then pay you the difference

Let me know if you have any questions on leasing or selling - like I said I have "set" contracts per acre or percentage with multiple buyers and leasers - so I'm never taking anything off your lease or buying per acre dollar amount.

Mike

Permalink Reply by william r rinehart on September 2, 2014 at 12:21pm

Joe,

I also have 50 acres in Knox township, kinda playing the waiting game right now. There is starting to be some activity in development , trail and error as far as the formation that is under the ground.

Bill

Permalink Reply by Donna M. Thompson on September 2, 2014 at 3:14pm

Mike:  Give me your e-mail address or I can tell you now.  I have 9 acres in Center Township, Guernsey County, Ohio.  I also have several neighbors that have considerable acreage that got bypassed the first go round.  If we were added together it might be more interesting.  Thanks  Donna

Permalink Reply by Dennis J on September 2, 2014 at 8:54pm

Mike, I have 36.8 acres right on the border of Center and Cambridge,that would be the east end of town against interstate 70.  I am looking for a lease. If you actually know anyone would you forward the info to me. I did not lease during the first go round because the people were so pushy and I have a home on this land. Any help you can offer would be appreciated.

I do not have to sell or lease and can wait, just wondering if anything is coming my way. My neighbor is leased.

Permalink Reply by Joe on September 3, 2014 at 11:57am

Mike, I don't want to get to far off topic but are you saying that I can't take out a loan on my property if I signed one of the mineral sales agreements and , anyone wanting to buy my property can't have a lien against it ether?

Permalink Reply by Mike Sero on September 3, 2014 at 12:22pm

No.

Typically if you already have a loan - there might be wordage you can't lease or sell your mineral rights. Most Leasing companies, don't even care about that language.

But a buyer of minerals to protect themselves will pay off most liens on a property before purchasing minerals. If they bought the minerals and you defaulted on Bank Loan you had prior to them buying, Bank could fight and get minerals back.

Anything done, after buying or selling minerals would have no EFFECT on prior contracts. So, yes you should have no problem getting a loan on a home, farm etc....

Permalink Reply by Joseph Fischer on September 3, 2014 at 8:58pm

Mike I sent you a friend request and my email address

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