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Permalink Reply by Brian Woodcock on February 17, 2013 at 8:27am

The well is not drilled yet, we believe, because the pipeline is miles away, so they are holding off. Yes we are in a unit, but we hear they want to double it's size and the leases are running out, so we expect things will be happening some time this year. They [Chesapeak] are also focussing on the new oil plays in Western PA and Eastern Ohio while oil is high and gas is so low.At a public meeting last year they confirmed this.

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Permalink Reply by Tom R on February 17, 2013 at 8:38am

Are you certain you are in a unit? Not to be overly nosy, but I took a fast look on Landex. It shows your lease and CHK's assignments for their joint ventures but there is nothing filed for unitization or pooling.

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Permalink Reply by Kathleen on February 17, 2013 at 9:14am

Just being the devils advocate for a minute. Does your lease state they need to have a bit in the ground or paying quantities for them to say your lease is in effect? I know some of the older leases, just 5 yrs ago didn't have that language in it. I hope yours does since having a unit drawn (intent to drill) and being worked on may hold you.

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Permalink Reply by Brian Woodcock on February 17, 2013 at 10:58am

We had a meeting with Chesapeake and they showed us the unit and all the people that were already leased in it. They would not give us a copy, but they did show it to us and it looked ligit to me. But who knows anymore? Thengs change daily it seems. Have faith and patience.

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Permalink Reply by Kathleen on February 17, 2013 at 11:09am

Oh I bet that was a theoretical (sp) unit, or just an in house idea unit. Unless its given to the engineers office it's nothing more than that.

Permalink Reply by Brian Woodcock on February 17, 2013 at 11:57am

Could be, but they paid a lot of bonus money up front to a lot of people. I doubt they would do all that on a whim??

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