Does anyone have any info on Gulfport Energy and their utica interest in ohio

There is an article out today in the WSJ about Gulport Energy raising funds for their acquisitions in the uticale shale in ohio?

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0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on June 22, 2011 at 4:39pm
This is one of the better summations that I've read on this blog.  Up front cash is nice but a quality lease is more important.
Permalink Reply by Finnbear on July 4, 2011 at 4:17am

Michael,

Are you a lease agent for Wishgard? What is your relationship to the oil and gas industry? Wishgard is not the only player in shale leasing in SE OH and with a little research one can find that their lease is OK at best. They are paying a fair amount of signing bonuses and if you just want the upfront cash then they may be the way to go for you. I believe that a solid landowner friendly lease is more important in the long run than some cash now.

Permalink Reply by michael j belaj on July 4, 2011 at 5:57am
Finnbear I am a oil and gas producer you have my web site in your message to me. I have researched the Utica and Marcellus in Ohio their are alot of players moving into Ohio for this play. Wishgard is the lease agent for GulfPort I work as a consultant I am a free agent. All the big boys are here and have begun putting their deals together. I agree with you the lease is more important than the sign on bonuses the money will be made on the production. My opnion is that the sign on bonuse may help you pay down some debit or buy a new toy however the production revenue will make you wealthy. Belmont County and Guernsey County has a double play take advantage of that look at who wants to drill what formation. I have been in this business for over 25 years I know what is under my feet. Thanks Mike
Permalink Reply by michael j belaj on June 23, 2011 at 12:27pm
Hunter I do have information on Gulfport energy Michael J Belaj Cambridge Ohio give me a call .Thanks Mike  
0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on June 29, 2011 at 2:41pm
BTW, if anyone has a spare moment go ahead and read a Wishguard lease and compare it to a CHK lease. They're virtually identical. Interesting...
0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on July 7, 2011 at 7:15am
Also, it turns out that Wishgard may not have an exclusive deal with Gulfport.  Details to follow.
Permalink Reply by Finnbear on July 7, 2011 at 7:25am
I'd be very interested in that info.
Permalink Reply by Finnbear on July 7, 2011 at 5:05pm

I find it interesting that early on, all Wishgard's leases were filed in Belmont County for Tri Star Energy Holdings. Recently, however, Wishgard has been filing leases in their own name in Belmont. Neither Wishgard nor Tri Star are drillers. Who are they going to flip these leases to? How much are they going to make on them?

 

Permalink Reply by michael j belaj on July 7, 2011 at 9:41pm
Wishgard leases in Belmont County will go to Gulfport Wishgard is the leasing agent. Look up Gulfport and you will see the agreement it is public information. Gulfport states that they will begin drilling first qtr of 2012.Michael j Belaj 
Permalink Reply by Finnbear on July 8, 2011 at 3:51am
The leases Wishgard has obtained have been filed with the county under Tri Star Energy Holdings and Wishgard. They are not filed for Gulfport. In the eyes of the law, Tri Star and Wishgard hold those leases. We all assume that they are going to Gulfport but legally they are not Gulfport's yet.
Permalink Reply by michael j belaj on July 8, 2011 at 4:23am
What is your point I assume nothing the eyes of the law has nothing to do with it follow the paper trail once it has been made public what Tri Star Wishgard and Gulfport does is there business. thanks Mike
Permalink Reply by Shower Bath on July 11, 2011 at 3:46pm

Today, 7-11-2011 Gulfport issued two press releases related to their

Ohio Utica leasing activity and the issuance of 3,000,000 common shares

of stock, in part to finance their Utica leasing activities. Go to their website,

click on investor relations, then clik on press releases.

 

Randy

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