Comment

Comment by gary smith on October 12, 2012 at 2:37pm

byler farm i guess. east fallowfield maybe.  crawford.

Comment by Samuel J. Orr on October 12, 2012 at 2:20pm

To Gary Smith: South of Atlantic Pa. ? Would that Shell well then be in Mercer County? If so, what township would it be in?

Comment by gary smith on October 12, 2012 at 12:39pm

shell to drill well on county line road south of atlantic in dec.

Comment by Jim Litwinowicz on October 11, 2012 at 1:21pm

Rex; Congrats on the lease. No one should question your decision as only you know what is best for you. Hope you get a well soon!

Comment by Ronald L Wilcox on October 11, 2012 at 12:19pm

Thx Rex,and I would be the last one to question your settlement.

Comment by rex roae on October 11, 2012 at 5:41am

Ron, I got $2750 per acre.  All upfront.

One parcel we have is in Wayne Township and the other is in East Meade Township.  My attorney is in Meadville and if you pm me, I'll give you his contact info.

Also wanted to add, I'm due to be paid by Nov 24 but according to some neighbors out here near Sugar Lake, Guardian has already paid some people.

You might get more by waiting but for us, the money and lease is good enough to take the sure thing.  I've heard the Lippert well looks very promising from some higher ups but I'm not looking to gamble by holding out.

Comment by gary smith on October 11, 2012 at 5:20am

and now the pennsylvania d.e.p. has raised the application fee for a mining permit from 250 dollars to thirteen thousand ,in one fell swoop. they who have to pay this are the ones supplying the well sites with road material. companies are now bringing limestone from CANADA into the area because of government regs.

Comment by Berk on October 11, 2012 at 5:15am

Jim

Seems like a good idea except I believe I read somewhere the IRS still hits you/me for all the money in one year so not only are you paying a great amount to the IRS now you/me don't have the money to pay it since it is coming in over a 5 year period. Anyone have input to what I'm saying as I'm not sure if I'm correct in what I'm saying. 

Comment by Ronald L Wilcox on October 11, 2012 at 4:56am

Hi Rex,let me one of the first to thank you for giving us your valuable experiences with the leasing of your properity.I believe you are a "first"at least for this link.It sounds like you are located south of Meadville which seems to be were all the action is.If you don't mind I'm not clear on the$2750 is it an up front lump sum  or a per ac sum. If offers are ever made north of Meadville I would like to get your lawyers name. One last question what happens the last two years if they drill.

Comment by rex roae on October 11, 2012 at 3:11am

Range has been offering $750 a year for 5 years for about a month now in Crawford County.  If they drill, you lose remaining bonus payments.

Guardian Exploration was offering $500 per year for 5 years with 3 years being paid upfront.  It took about 5 seconds to get them to give me $2750 all up front with 16% royalties(no deductions) and a lease that had 37 addendums my attorney prepared.  They said they would give the same money as Range($750 year/5 years) but they would want to use the same crappy lease as Range.  I took the lower amount(paid upfront) with the better lease.

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