Replies to This Discussion

Permalink Reply by michael j belaj on July 9, 2011 at 12:42am

The going rate is 1600.00 to 2250.00 and 15%  if you are working with a company that will pay and not just make a offer and not pay. There are a lot of companies that are just flipping leases ask your banker talk to the people at the recorders office talk to your neighbor know who you are dealing with befor you sign a lease. If you dont find out were the money is comming from it may not come and you are stuck with a bad lease or no lease and you have wasted your time it is important to get a good lease and get in the game early so that your acreage is put into a drilling program that is were the real money is made off production revenue. Michael J Belaj

Permalink Reply by DM on July 9, 2011 at 1:14am

One thing that concerns me about Sun O&G is the fact that I can't find a web site for them and the address on the lease is a PO box in Marietta.  Wishgard touted their track record for paying, whereas I've not heard anthing on Sun O&G, or who their parent company was and who they are working with.

FYI, the county records office is booming with people checking on their minerals.

Permalink Reply by scott peterson on July 9, 2011 at 2:07am

I went to a meeting in Salesville put on by Sun O&G the guys name is Don Casto. He is a totally independent one man show as far as I could tell.  Held the meeting at local Amish leaders barn and passed out leases for 2,450 with 17% royalty. I am new to this so cant vouch for the lease terms but there were alot of landowner friendly addendums attached. From what I hear alot of people have signed with him at a second meeting a few days ago. I searched the net for this guy & his company and found nothing.

Permalink Reply by Steven Gardner on July 9, 2011 at 2:57am

According to the Ohio Secretary of State website "Sun O & G Exploration LLC "

out of Marietta, Ohio was created on March 24 2011 and shows

the agent as being Donald E Castro Sr

 

Wishgard LLC has a "much" older record having been created on April 7 2010

They are out of PA

 

Permalink Reply by scott peterson on July 9, 2011 at 3:06am

He may be totally legit but it doesn't make me very comfortable dealing with an independent that just formed his co. It appears that just about anyone with some knowledge & contacts can sign up a bunch of leases and hope to put together a 640 acre block then go shopping it around.

Permalink Reply by DM on July 9, 2011 at 3:13am

I think I'm going to sit tight for a while.  I know some people in Salesville, but no Amish.  The guy that visited me was Amish I think, maybe Menonnite.  Melvin Yoder was his name and he was representing Sun O&G.  I'm leary of an idependent being able to pay in the 90 day window.  I guess I would not be out anything because the lease is terminated if they have not paid the delay fee within 90 days.

Permalink Reply by scott peterson on July 9, 2011 at 3:46am

Not out anything but possibly missed out on another opportunity while tied up in a lease that was never committed. That would be my concern.

Permalink Reply by DM on July 9, 2011 at 4:01am

I see your point.  I need to sit tight and see if the neighbors do anything.  I've only got 13.5 acres.

Permalink Reply by scott peterson on July 9, 2011 at 4:15am

I am totally green to this whole thing but I would have to think there is no down fall to waiting it out because I would think if a company has put together a block of land & you are the missing piece that they will come knocking with hopefully the best offer as they will need you. Somebody can correct me if I am wrong on this assumption......

Permalink Reply by Nelson Roe on July 16, 2011 at 2:14pm

I do know people who have already received a payout from Wishgard, so I would say they are legit in making their payments.  I am also leary about Sun O & G.

 

Permalink Reply by Nelson Roe on July 15, 2011 at 2:45am

Hey all,

I found this meeting today on the KWGD.com website.  I attended one of their meetings about a month ago at Salt Fork conference center.  They are very informational.  I just thought I would pass this along for anyone that may still be searching.  I gained a lot of info at their last meeting & may go again just to see if I missed anything.

 

Guernsey County landowners are invited to attend an oil & gas meeting on Monday, July 18th at 6:00 p.m. at Pritchard Laughlin Civic Center, 7033 Glen Highway, Cambridge, Ohio.   

Permalink Reply by scott peterson on July 31, 2011 at 2:24am

KWGD new meeting is Tues 8/9 at 6:00 at Laughlin Pritchard Ctr in Cambridge.

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