Comment

Comment by James Kerns on December 21, 2011 at 9:49am

caution you NOT to give percentage of Royalty.

Comment by James Kerns on December 21, 2011 at 9:47am

Hello all, Some of you may know me, some may not. I have a farm and am looking to lease, over in Bloomfield Twp, just south of the Ash./Trum. county line. Welcome

What Brad stated rings true. If your new to this site. Edward Ganelli and Finnbear are old hats around here so their advise is worth listening to, if you dont already know them, get to.

ALOV has negotiated Three good lease deals now and about to sign the Fourth group up, Northern Trumbull county.

Buckeye Mineral is headed up by Bob Rae, one and the same from ALOV. This makes him the TOP DOG as far as successful landowner groups, so as much as i dont like the idea of giving a percentage, 2 1/2 or 2 3/4 % of your Advance Lease Payment (Bonus Money), it is a small fee to pay for that much experience. If you go elsewhere, i would caution you to give ANYONE a percentage of royalty. This will be the thing you will come to regret if you do.

If you dont know it Mr. Adam Thomas is from Wishguard. This group does not buy leases, this group gets you to sign a marketing agreement giving them a period of time to find an interested party to buy up your lease at a profit to them, and they flip your lease (assignment) then pay you. If they cant find a buyer in the aloted time frame, you most likey get nothing.

If you wish to start your own group, there are some here who may help you and i think Edward may be one to speak with further about that.

I hope this will be of some help. Good Luck

Comment by Bill Simpson on December 20, 2011 at 1:27pm

Dan...If and when you or anyone else has info on the possible Pierpont group forming please feel free to contact me. Pierpont is right down the road from me.
Would love to contact someone from this group or attend any of their meetings.

Thx
Bill

Comment by Dan on December 20, 2011 at 10:02am

Theirs a group starting in the Pierpont area , might be a meeting in early January.

Comment by Bill Simpson on December 19, 2011 at 10:55am

Are there any groups started for the Jefferson, Pierpont, Richmond, Dorset area? As I mentioned before on other posts Wishgard has flooded this area and so far they have been the only ones to contact land owners in these areas. I do not want anything to do with them but would be interested in working with anyone else who is around our area. Does anyone know of any other outfits looking to sign leases in this area?

Also, has anyone out there heard of or worked with "washingtonpalawyer.com" I have spoken with someone who has signed up with them to do negotiations when someone wants to buy leases.

Any and all information would be appreciated.

Thx

Comment by Brad on December 18, 2011 at 2:48pm

Nothing worth talking about.......just waiting to see what the ALOV group gets in Trumbull County.  I'm sure once the new year hits, the Trumbull group finalizes, and Chesapeake announces its JV things will pick up.  Has anyone driven by the Chesapeake test well site on Pymatuning Lake Rd.(between Hall Rd. and Rt. 6) to see if they started any site prep?

Comment by Dain Liard on December 18, 2011 at 2:14pm

Any offers worth talking about??

Comment by Brad on December 10, 2011 at 7:24am

From what I've been told the Trumbull County group is ALOV's last signing.  People where I live (Salem), who have not signed a lease yet, now have to go through Buckeye Mineral.  Buckeye has a flat fee at 2 1/2% of the sign on bonus....or maybe 2 3/4%.  If you lease for 5,000/acre then their cut will be $125/acre.....hence you will get $4,875/acre.  I happy to pay them that amount, especially in light of the lease that they have and the amount of acres they can use as leverage.  It also gives them incentive to negotiate the highest price.  I never expected Mr. Rea to keep ALOV going.  He has already dedicated an immense amount of time without profit - most people aren't that generous with their time.......to be honest, I wouldn't be.  Other companies, like Tri-State have a representative agree in where they will negotiate (on your behalf) with the drillers a predetermined minimum price that you want.  They take a cut on the bonus AND the royalty, so you would be giving them MUCH more than you would give Buckeye.  Not only that, their lease isn't as property owner friendly as Buckeye's lease.

Edward is right in saying that a bit of patience will pay off relatively soon.  The seismic testing, Chesapeake vertical well, Buckeye's increasing interest, and "flip" companies are all good signs.  I signed exactly one year ago (on the property where I reside outside of Salem) with a "flipper" called Trinity Land Development.  They were out of Texas.  Our group negotiated a pretty good lease, but our bonus was only 2,000/acre.  Since, they sold all of their leases to Chesapeake.  Of course, in hindsight it would have been best to wait as Chesapeake is now offering people in my area  5,800/acre and I believe ALOV's last 25,000 acre Mahoning/Columbiana County signing was for $5,800/acre. 

Comment by Bruce Beckwith on December 10, 2011 at 4:31am

Finnbear

Thanks for setting up this group, our landowners need the information.

 

Comment by Ed Ganelli on December 10, 2011 at 3:51am

I thought so also, but there was an ALOV meeting last night at Champion High School to sign up new members.  I wasn't able to attend, so am waiting to see what it was about exactly on possibly the Trumbull section or for one of the ALOV members to message me about it...

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