Lensman & Associates is forming a group in Belmont County. Anyone with acreage in Belmont County should contact this firm quickly if they are tired of waiting for an offer. They will submit bid packages October 10th and finalize bids on November 5th. They are negotiating to get the full bonus before December 31st so it applies to 2011 taxes. Taxes are almost guaranteed to increase in 2012 for both federal and state. With the recent announcement from Chesapeake about the production of the well in Harrison County, this offer should be fairly good. The XTO deal a few weeks ago is looking like 19% on the net royalty, not on the gross and $4950/acre bonus. The new deal should be better than what XTO was offering.
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Q) How do you know Smith-Goshen isn't getting any offers that please them?
A) You don't - and if you were participating in S-G you would know that they have not ended their proposal period because of the interest in the group from numerous players.
Psychosid , I am also a betting man and I bet you are one of the main committee persons promoting the La group you have bragged about ,
But I could be mistaken . But I know I have wasted too much time with this subject. I don't find any further need to defend our Smith Goshen Group , Obviously there is some sneaky intervention to try to find reasons to lure people away from the group , especially with all of the comments to slam our group . Any group that charges the higher fees does not have the future of the landowners at heart as much as ours do . They have donated so much of their life to this project it is hard to fathom how hard it has been for them to be away from their families so much knowing they are not getting a windfall profit at the end . The people have maintained their strength this far and the company posts just ensure that they won't go away anytime soon. And the worst case scenario is that the landowners that hold out will just get a larger signing bonus and the drilling time will be much quicker , or they will be force pooled and only get the royalties ,and after the equipment is paid for they will become a partner in the actual drilling unit . Nuff said have a good life . See you at the meeting maybe Finnbear
Where did Finnbear's message go where he was calling me out? The only reason I posted the group's disappointment from the lack of good offers is because Finnbear questioned the "supposed admission" about not getting any offers by the group's deadline. How do you delete a post?
And McGyver, you know what they say about opinions? I'm in no way associated with the LA Group and have tried to keep people from leaving another group. I guess after reading some of my posts you could assume that I was recommending this new group. It wasn't my intention. It is just odd that this website is supposed to be for anyone and yet it seems that the Smith-Goshen is the only group worth anything. I wasn't attacking the Smith-Goshen, I only mentioned the mass email AFTER I WAS QUESTIONED. Has the Smith-Goshen gotten a decent offer with their lease?
yes
The main revolt is that this is our county and if someone here is taking the initiative to do what is right ,we surely don't need outside intervention just to male a fast buck . And I will ignore the comment until a future date when I am in a more childish mood
i
psychosid
There is WAY more to the story than the misinformation you posted here. If you read that email in its entirety you would know the reasons for the proposal period not ending. The changing landscape in the oil and gas industry with respect to companies S-G was in negotiations with necessitated an extension of the proposal period. The group has always said that after ALL bids were received, they would be evaluated and the best offers would be put to the membership for approval. They have said all along that they would not release the results of any of the bids until all were in.
I did not state that there wasn't an email. I did not call you a liar. The full email would only serve to show that there is much more to the story than you presented and you are correct, it should not be posted here. You chose to only say that we were "disappointed that our proposal period did not get the results we tried to get." This is one line from an update which was taken out of context and posted here without the benefit of the accompanying previous and later updates that members were privy to.
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