ILG energy lease.

Hello all,
I was just wondering if anyone has or is sitting on a lease from ILG. Were being offerd 3,000 + 15%. I know there has been several others offerd this and maybe sitting on this. My question is does anyone know anything about this company? Looked on the web for any testamonials about this company, and are they offering anymore to anyone else. Were located five miles east on sr.556 towards clairington. Any info would be appreciated.

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Permalink Reply by Philip Brutz on August 31, 2011 at 4:44pm
Do you have a digital copy of this lease that you can post? It would be a good learning experience for some of the new people to read what a bad lease looks like before they sign one!
Permalink Reply by charles schmidt on August 31, 2011 at 5:01pm
Again explain to me WHY this is a bad lease. So far nobody has shown me or anybody else why this is a "bad" lease. If you know what your talking about please explain!
Permalink Reply by Lee Bayersdorfer on August 31, 2011 at 6:49pm
I will let you know if I dont recieve my $210,000.00 check in 120 days!
Permalink Reply by charles schmidt on August 31, 2011 at 6:53pm
Oh please do
Permalink Reply by craig on August 31, 2011 at 7:36pm

The upfront money is all fine and good, but you don't know who the lease will be sold to and as a result you won't have any idea of when drilling might happen....the royalties are where the money is, not the upfront lease money.

 

Permalink Reply by charles schmidt on August 31, 2011 at 7:46pm
They only drill on certain acres. I cant remember what the minimum number is
Permalink Reply by John Lusk on September 1, 2011 at 10:46am

Many landowners who own the mineral rights to their property are being approached with offers to lease their land. The size of the signing bonuses that have been paid in transactions between informed buyers and informed sellers is directly related to two factors: 1) the level of uncertainty in the mind of the buyer, and 2) the number of other buyers competing to make the purchase. This is something we are doing for generation to come research, get informed and educated. What we stand on is valuable we should set the price and market it not just take a offer. Development is I the early stage now. Big players are moving in. Check into the development in Texas 10K - 15K p.p.a. 20 - 25% the reports show are area resources are greater here. Yes it's a contract, with language weak and unclear remember the contract goes from page 1 to the last page. If you understand  all the interrelating and are comfortable go for it. If not get some legal advise. ILG Energy is a unknown, no track record. Time is on are side don't let $$ Distort you vision.


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Permalink Reply by charles schmidt on September 1, 2011 at 10:50am
I know everyones land around literally around me are signing for thay particular lease so im kind of between a rock and a hard place
Permalink Reply by John Lusk on September 1, 2011 at 10:59am
Or maybe the second mouse get the cheese.
Permalink Reply by charles schmidt on September 1, 2011 at 11:01am
Hmmm
Permalink Reply by craig on September 1, 2011 at 1:52pm
Lateral lengths in my area are running 6,000 to 8,000 feet and the declared drilling units are 800-900 acres averaged.
Permalink Reply by old trapper on January 14, 2012 at 11:25pm

I signed the lease aug 30 2011 I have not heard nothing from ILG ENERGY I thing I made a big mistake !

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