Leases Offered in Noble County

I'm new to "gomarcellusshale", as well as new to this business.  We have a 152 acre farm with "Clinton" gas wells which supply our needs.

We've been approached by Fossil Creek Energy Corp (FCEC) for $50/acre, 12.5% Royalty, and $10,000 if a well is drilled.  We are sitting on the Utica Strata.  I've carefully read the lease and am very suspicious of the terms.  We are consulting attorneys.  I don't see any members from Noble County..and some interesting notes from Guernsey which lead me to suspect the FCEC lease.  Can they broker a lease after signing "cheap"?

We have news of ARTEX Oil offering leases in our County, they're out of Marietta.  Any comment on FCEC, ARTEX, and my suspicions would be welcomed!

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Replies to This Discussion

Permalink Reply by Thomas Hall on August 14, 2011 at 10:55am

Check out my thread in monroe county. I would stay away from Sun Oil

Permalink Reply by sawtooth on August 9, 2011 at 12:42pm
By the way, does anyone have Fossil Creeks phone number?  i want to call them to see what they are offering now for their leases.
Permalink Reply by Mark Curry on August 10, 2011 at 11:37pm
FCEC has written and sold leases in Noble County..$2,250/acre, with gross royalty at 15%, and they have 30 days to search the tile and pay the lessor.  We've heard they are drilling a hole in Noble, so we'll see what that leads to!  They must have some confidence since they have paid up on  some of the leases, We're told (by FCEC Geologists) that the townships in northern Noble are sitting over a "wet" spot so an interesting mix of "product".
Permalink Reply by Private KeepOut on August 11, 2011 at 1:15am
Mark, this is true they're building a platform now on 285 south going towards Sarahsville. My neighbors son is friends with the guy who is building it for FCEC.
Permalink Reply by Mark Curry on August 11, 2011 at 2:37am
Also a distant relative of mine!
Permalink Reply by Private KeepOut on August 11, 2011 at 4:34am
It's always a good thing to have connections. :-)
Permalink Reply by Robert Fulton on August 10, 2011 at 4:43am
Don't look under the hood ...This lease was only driven by a little old lady going to church on Sunday. Glad to hear the meeting went well ! Plan on making the 24th. Hope to possibly meet some of you then!
Permalink Reply by Private KeepOut on August 10, 2011 at 7:14am
Hi Robert, hope all is good in your neck of the woods! :-)
Permalink Reply by Robert Fulton on August 10, 2011 at 11:48pm

Well  Mark I hope that "wet" spot is under my 30 in Wayne....lol

Permalink Reply by Private KeepOut on August 11, 2011 at 1:24am
Nope....it sits under my 13 in Seneca twp.....we've been rezoned......YIKES!!!!!!!!!!! LoL
Permalink Reply by Mark Curry on August 11, 2011 at 3:26am
Well,its wet,so I guess it flows, right!?
Permalink Reply by Private KeepOut on August 11, 2011 at 4:36am
Oh yeah....I've heard at a 30 degree angle due north! lol

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