Dale makes broad pitch for $17,000 in NE Tarrant

Dale Resources made an unusual and far-flung pitch last night to lease mineral rights for about 5,000 acres in Northeast Tarrant County.

The offer is for a bonus of $17,000 an acre and a 25 percent royalty. The lease term is for three years and an option for a two-year renewal.

The offer was made to a packed room full of about 40 community leaders from Colleyville, Southlake, and parts of North Richland Hills and Keller. As neighborhood group leaders and HOA presidents spilled out of the small conference room at the Southlake Hilton after the meeting, at least one expressed intrigue and possible interest in the offer.

Michael Muhm, leader of the Pool Road Coalition, called the offer "very interesting." He said XTO Energy has a competing offer out to property owners in his group's area for a bonus of roughly $12,500 an acre. But he said his group is looking at not only the best dollar amount but who would also be the best drilling company for property owners to partner with, and he said Chesapeake is looking strong.

Dale has also proposed 11 signing dates throughout the month of May in Colleyville.

Dale officials said the offer is good for anyone living in a large swath of northeast Tarrant, mainly southwest of 114. But the land company also did say that if there was not enough people that started signing, the offer could go down. A deadline date was not given for how long the offer would be good for.

Among the affected areas are the upscale, 1,100-acre Timarron community in Southlake, the Pool Road Coalition and the Colleyville Area Mineral Rights Association.

Stay tuned to this space for more updates, and to the S-T print edition Thursday for a full story. We're trying to get a handle on who was in the room Tuesday night, and how broad the area is that we're talking about.

If you were in the room and you have a perspective, we'd love to hear it. Just drop us an email at dwethe@star-telegram.com or call us!

-- David Wethe

(Photo: Southlake trolley)

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[NRH Mineral Owners Alliance]

NRHMOA, North Richland Hills Mineral Owners Alliance, is a coalition of volunteer homeowners in the NRH area dedicated to organizing, communicating, and negotiating the best possible Gas Lease Agreement for the area.

FOR MORE INFORMATION VISIT:
http://groups.yahoo.com/group/NRHMOA/