Replies to This Discussion

Permalink Reply by 0ym9x5ag7ury2 on October 9, 2012 at 1:55pm

William, Join a land owners group that will combine your land with a very large number of acres in your county then they will have the Oil & Gas companies bid against each other for the acreage. Don't sign a lease unless it is written by an attorney in a land group that ensures you have all the protection and benefits as the land owner. No one has ever been happy with a one sided Oil or Gas company lease. The right lease can get you a large signing bonus, a good Royalty Gross not Net percentage, and even the plan Ohio has to tax you can be handed off to the O&G company if the lease is well written. I'm sure people on this site will tell you where the Landowners Groups meet in your area, and you can read the Harrison County posting to find most of the information that people have already left to educate the beginer. If you do your homework you will find 2 acres will pay very well in the future.

Watch out for those who will try to buy your mineral rights, they know how much this find is worth and will go after the uninformed. Never sign anything until a lawyer reviews it, and never sign another companies contract or lease, have them re-written to protect you the landowner (or landowners father). 

Go to alov.us and look at the March 2012 Lease to see what a good lease looks like. 

Remember:  "Money Brings Out The Worst In People"

• ▶ Reply

Permalink Reply by Jim Litwinowicz on October 10, 2012 at 2:00am

William;  Ron gave you some pretty good advice.  The one caveat is that you don't say if you live in the area or not.  If you do, talk to as many of your neighbors as possible. See who is active in the area and see what the offers are.

If you live outside the area and don't know anyone there, go to the Harrison Co section of this site and ask the same questions there. But keep in mind, a lot of people on this site have their own agendas and are not always open and honest about who they are or who they work for.

Get as many different opinions as possible. Check out other websites, look at old local newspapers to see what they have written, even talk to several local attorneys. Most of all, be patient and studious.

Good luck

• ▶ Reply