MARCELLUS SHALE – NATURAL GAS MEETING
WHO: Landowners interested in leasing with property in Allegheny, Munster, Gallitzin, Clearfield, East Carroll, Cresson, and Cambria Townships.
WHERE: Our Lady of Loretto Community Hall,
279 St. Elizabeth Street, Loretto, PA 15940
WHEN: Wednesday, February 2, 2011 @ 7:00 p.m.
The Loretto Landowners Group will be holding an organizational meeting to discuss gas leasing opportunities. The next step in securing a lease will be to get a firm commitment from those individuals interested in leasing. This will require each individual to sign a Marketing Agreement. The Marketing Agreement only provides the consultant the permission to represent the landowner in the negotiation process. It does not commit or obligate any individual to sign a lease. If a lease offer is presented to the group, each individual will have the decision to accept or reject any such offer. Also, at this meeting we will present an outline of the “DRAFT” lease which we will use to initiate negotiations with interested companies.
The search committee has met with Tim Hale and has elected to provide him an opportunity to present to our group with the intentions he will represent us. Tim is a business-development officer for New Jersey-based South Jersey Resources Group, currently the largest purchaser of Marcellus gas production, and he has 30 years of experience in the gas industry. Using his experience and knowledge of the industry, he also represents and consults for several landowner groups throughout the Marcellus region. His presentation will be followed by a question & answer session.
There will be a $10 dollar administrative fee charged for each landowner. Multiple parcels and joint owners will only have to pay a single fee. We are incurring costs for postage, copying, and renting the hall and asking for donations at our previous meetings did not cover our costs.
We already have a lot of the Group’s information but will need to update and verify our records. Please bring your tax map number(s) and total acres to this meeting. A copy of your official tax billing notice is preferred. If you want to participate in the group, your presence or someone representing your interests will be required.
As other landowner groups in PA have learned, utilizing a “strength in numbers” strategy can result in a more favorable lease with financial terms for all in the group. Our group is approximately 30,000 acres, all in central Cambria County, so if we can stay together we should have an attractive block of ground to market. So, please show up and be included.
In case of inclement weather the meeting will be reschedule with a date to be determined.