Comment

Comment by Finnbear on December 10, 2011 at 3:45am

I thought Bob Rea's ALOV was done doing the freebie groups and his  Buckeye Mineral Development was doing all the future groups?

Comment by Ed Ganelli on December 10, 2011 at 3:21am

My advice for anyone in Ashtabula County is to just be patient...offers now are up to 3000 and 17% (Tri-State, a flipper company) and 2500 and 17% (D & L Energy...a drilling company, but not equipped to deep-drill, so plan to JV with a larger O & G company).  Neither lease is any good at all...

In addition, ALOV is supposed to be signing new members again with a deadline of today.  Buckeye Minerals is also showing increasing interest in our area.

Knowing all of this, a bit of patience will most probably pay off relatively soon.  This much interest, plus the extensive seismic graphing being done/already done in southern Ashtabula County looks a lot like exactly what had happened early in Ohio's southeastern counties...

Comment by Adam Thomas on December 9, 2011 at 4:20pm

Just thought I would point out that a landman from a drilling company will always tell you to be patient. If the test wells turn out good then he wants to lease you. If the wells turn out bad, he didn't loose any out on any money. You may have.

Comment by Brad on December 9, 2011 at 7:39am

Finnbear,

Thanks for setting this group up.  Hopefully the residents of Ashtabula will utilize the information they receive from this group in order to make an informed decision.  Incidently, I received a voicemail yesterday from Buckeye Mineral in response to a question I had.  I told them I wanted confidence that they would be forming a group in Ashtabula and leasing within a year.......before I told others about their group.  They told me that they "would definitely have a group started within a year" and it is "perfectly OK to tell others about them and their lease".  They also said they do not know whether the group will be through them or perhaps through a separate landowner group that they will represent. 

I also spoke with a landman from a large driller and he advised me that when companies like Wishguard are in the area the "big players" are soon to follow.  He said to be patient. 

Another thing that could make Ashtabula appealing to drillers is the potential for utilizing their port(s) for the distribution of oil/gas......I don't know....just a thought.

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