Replies to This Discussion

Permalink Reply by michael j belaj on June 6, 2011 at 11:14pm

Bob I just received cofermation that Gulfport has accepted leases in Guernsey County this should include your acreage It was a pleasure working with you. thanks Michael J Belaj Cambridge Ohio

Permalink Reply by Jon Henderson on July 10, 2011 at 9:39am

Mike I'm new to this group. We have had several offers over the last 4 months, and quite frankly I hadn't paid much attention to them. We are in western Guernsey county close to New Concord. We have had offers of $500/acre and $1650/acre in the last two days. How do you know the right offer to take? The cheaper one says they will drill within a year. How do you get security, without blowing the opportunity for a good lease.

Permalink Reply by michael j belaj on July 11, 2011 at 12:23am

Hi Jon I looked at your acreage on the map and for you to be in a better position you will need to group up with some of your neighbors to the north south and west the Utica play needs to be drilled horizontal you do not want a vertical well drilled the 500.00 offer is for a vertical well my guess. Thanks Mike

Permalink Reply by Hoodwinked2 on June 14, 2011 at 2:40pm

Went to the meeting sponsored by Wishgard today at Old Washington. Offered $1600 per acre.  Lease is more landowner friendly. Still need to tweak the addendums to suit each landowners needs. Long lines for signing on the dotted line. Indicated they represent Gulfport Energy. WishGard gets $116. per for sign up as commision.

Lots of individuals leased today from the local community.

Presenter indicated that most of the land in the area with the resourses have already been leased by brokers and that leasing is peaked out. Leads one to wonder regarding waiting for another few months to lease.

Any thoughts about this?

Permalink Reply by James Harber on June 14, 2011 at 4:40pm

Sold out too cheap, that's what seems to happen over and over again, when you believe what landmen tell you, just to get your interest leased. We are a long way out, at least a year before any leasing winds down in your area. For those of you who haven't yet signed, don't, wait until after the first of the year. That is, if another thosand a acre would make a difference and 17.5-18% royalty. Or not,  let the middlemen take that $$ for themselves, afterall they really need it more than you, right?

Permalink Reply by Finnbear on July 11, 2011 at 4:22am

President Reagan always said "Trust but Verify" and it is a good rule to use when dealing with people who do not have YOUR best interest at heart. Do the research and verify for yourself what they are telling you and you will often find that they use high pressure tactics like this to get you to sign at a lower price/royalty than you could have received if you had done a bit of homework. If you are not willing to put in a considerable amount of time learning exactly what and who you are dealing with, then sign the first deal you come across and ignore the industry after that because what you will learn after the fact will only make you mad. You usually only get one chance to sell your mineral rights so you want to get it right the first time.

Permalink Reply by scott peterson on July 11, 2011 at 4:31am

Sound advice, I am researching as much as possible. Ronald was the man!

Permalink Reply by scott peterson on July 8, 2011 at 1:54pm

Scott from Quaker / Salesville area new to the site and looking for guidance.

Permalink Reply by scott peterson on July 8, 2011 at 2:00pm

I am new to the game and have 120 acres in the quaker/salesville area. Been approached by a independent land man who is under the name of Sun O&G Exploration LLC who held at meeting at the local Amish community hub. Offered right upfront 2,450 acre and 17% royalty. First meeting I have been to. Anyone had any experience with this guy Don Casto who appears to be a totally independent broker?

 

 

 

 

 

 

Permalink Reply by Des Wertheimer on July 11, 2011 at 1:20am

where was the meeting in Amish area. Would like more info on this.

Thanks

Permalink Reply by scott peterson on July 11, 2011 at 2:05am

Amish mans name is Leroy and it was at his barn just outside of Salesville on 6/30

Permalink Reply by Finnbear on July 11, 2011 at 4:24am

The details of the lease and addendum sheet are far more important than the two figures you presented here. Do you have a copy that could be posted for analysis?

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