Replies to This Discussion

Permalink Reply by Booger on February 9, 2016 at 3:06am

i say wait.......unless you are willing to jump on a bad deal.

if you have what they need, then they will hound you at some point......there is a dollar figure that they will be willing to pay........you want to be sure your counter offer is higher than that figure......then negotiate

Permalink Reply by nc man on February 9, 2016 at 3:36am

Thanks, Booger,

Sounds right to me!

Kind of like a cat and mouse game!

I just have a feeling they are very interested in our mineral rights due to the fact AEU/Ascent is approaching us 8 months before the lease is up.

Maybe I am all wrong in my thinking!

Can anyone share what the going rate is, with AEU, for a one year renewal lease ?

Has anyone out there have a lease with AEU/Ascent??

I never, or very seldom, here from any AEU lease holders, on this site, with a question or comment.

Sometimes I feel like I am all alone with AEU.

There must be someone else but me that is involved with AEU/Ascent.

FYI-------My brother's friend, just recently, signed a year renewal lease with Chesapeake, for the same figures, he got on his original lease. Nice.

nc man

Permalink Reply by bo boboski on February 9, 2016 at 8:46am

Your lease should be the same as mine. They have the option of re-leasing for the same amount for another 5 years at $5000. per acre.  If they don't wanna do that,and go with with a 1 year lease, then it should be $1000 per care, with the lease expiring in 1 year. If not those terms, then, screw em.  It can stay in the ground until prices rise,and another driller wants it.

Permalink Reply by nc man on February 10, 2016 at 2:42am

exactly how we are thinking now, too!

renew the 5 year lease, or the year lease for $1,000 an acre.

if not we will ask for a written letter stating that our lease is no longer held by Ascend Resources, as of our expiration date in Oct. '16

Thanks, Bo!

Keep in touch.

nc man

Permalink Reply by Chuck on February 9, 2016 at 3:57am

That's interesting on the Chesapeake renewal given the financial situation that they are in but good news all around

Permalink Reply by Chuck on February 9, 2016 at 3:58am

Where is your brother's friend located aNC?

Permalink Reply by nc man on February 9, 2016 at 4:37am

Don't know but will ask my brother. But it might be awhile.

His wife is having a serious major operation! Today, in fact.

We pray for her recovery.

Don't want to bother him at this time but eventually will find out and get back to all interested.

I live in North Carolina. He is in Canton, OH

nc man

Permalink Reply by W Moore on March 31, 2016 at 4:27am

Got my dear john letter last week from Gulfport that stated they were not going to renew their lease. I signed with several others through KWGD five years ago. Eclipse had planned two wells on my road (Barker Millwood Twp) and I was hopeful just to get my road repaired and brought into the 21st century.

Permalink Reply by Chuck on April 1, 2016 at 8:54am

I just spoke to Gulfport field office and they told me they are releasing all the leases in Guernsey County. My lease expired yesterday. They will be submitting to Guernsey county recorders office in the next couple weeks.

Permalink Reply by bo boboski on April 1, 2016 at 9:45am

So what happens if they send out checks to re-lease on leases that have expired?  I suppose that if people cash the checks,then their lease is renewed? Even if it has expired?  Those who don't want to re-lease would just have to send the check back and request a release?

Permalink Reply by Chuck on April 1, 2016 at 12:48pm

That is just what the lady at GP St Clairsville field office told me. Maybey she didnt mean every single lease in Guernsey was going to be let go, but thats how i interpreted it. Have you heard of people having checks sent to them in Guernsey for a lease renewal for GP? If so I would guess that they are bound to the terms of the lease renewal wether they cash it or not. If they get a check then its been renewed.

Permalink Reply by bo boboski on April 2, 2016 at 1:17am

Sorry, Chuck.i thought you meant they were RE-leasing all the Guer. co. leases. But after reading your post closer, you obviously meant, releasing.as in letting them expire,and sending out releases to all involved. Oh well, I'm sure Ascent will be interested in some of them. Probably be lowball offers,though. Have to wait em out.

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