Looking for information

Looking for information from others in southern part of Belmont Co. Ohio about there experience with drilling gas wells.

One of the companies that approched me was OHTEX energy, They have a satilite office in St. Clairville Oh. and is base out of Texas. I fell they are trying to take advanage of me by low balling my contract offer. They offered me $50.00 a acre on a lease and 12% of the net per year. My attorney said that it is to low that they can and will pay alot more.

My attorney tells me that the above mentions figures should be more like $100.00 per acre and 16% of the gross (not the net) and the more research I read that the per acre number should be up around $500.00 a acre.

If there is anybody that is willing to share any information with me on this subject it will be greatly appricated.

Thank You

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Comment by Finnbear on May 11, 2011 at 4:44am

I spoke with Jeff Bailey today from the non-profit group ALOV that was so successful in April with their 60,000 acre lease of land in Columbiana, Carroll, Jefferson , Mahoning ,Stark, Tuscarawas,and Harrison Counties that was signed with Chesapeake. This was a $2250/acre, 17.5% Gross Proceeds royalty that was very landowner friendly. They are gathering landowner names/contact info to start a Belmont county group. This might be a good chance for us in Belmont to get a lease written for the benefit of us landowners and not the oil companies or middlemen. Their website is below.

http://alov.us/home.html

If you are interested, please send me a message here http://gomarcellusshale.com/profile/Finnbear

Comment by Keith Mauck (Site Publisher) on December 9, 2010 at 4:14am
Hi Ralph, please find your groups and ask this there...you will get many more answers..http://gomarcellusshale.com/groups. Thanks!

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