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September 28, 2007

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Alice Grissel

My brother & I own 3 adjoining residential properties west of UTA, totaling 1.58 acres. We would like to sign gas leases, but our neighborhood did not organize its efforts, so we don't seem to have negotiating power and many of our neighbors have already signed.

Axia, representing Cheasepeake is currently offering us a $5000 bonus & 25% royalty. Their agent told me we are located near 2 projects, so I am assuming Carrizo is the other. I can't seem to get anyone from Eagle or Cheaha to return my inquiry, so I haven't been able to find out.

We could use some advice on getting our best deal. We don't want to miss out entirely by not accepting the Axia offer soon, but don't know what situation holdouts such as us are looking at. Does anyone have any info that might benefit us? We'd appreciate some tips...Thanks!

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