Discussion of a community gas lease for five neighborhoods in east Fort Worth is the subject of a meeting set for 6:30 p.m. to 8:30 p.m. Thursday at Eastern Hills High School's auditorium. On the agenda is an information session describing the lease, put together by a negotiating task force authorized to research terms of a desireable lease, and time for questions and answers. The lease will be sent to interested drillers, who will be invited to submit offers. The neighborhood associations involved are in the meeting represent Brentwood-Oak Hills, Chimney Wood, Eastern Hills, Central Meadowbrook and West Meadowbrook.
The most recent lease offer was from Holland Acquisitions, on behalf of Paloma Resources, for $7,000 an acre ($1,200 minimum) and 25 percent royalty. That compared to Holland's offer in August of $3,000/acre ($500 minimum) and 20 percent royalty from Holland.
-- Jim Fuquay
(Photo: Eastern Hills football)