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October 15, 2008

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BH

wedgewood resident: I banked my bonus
in July 07. It's all you hold outs and
losers that's been holding me up being
put in a unit.

sounds to me like other people should get
a life., or make that a mineral lease.

funny meeting you here, cable go out?

meredith

bh, get a life you are the most pathetic blogger out there you sure have a hell of a lot of time on your hands. i hope you have fun bitching about nothing cause oil and gas companies are going no where.

love,
wedgwood resident

CATS member

Caffey is very slow!!! However if you have a bank draft, I think they will pay you. I received my draft in June and the money did not show up in my bank account until August. Hope this helps.

Tom

Is anyone else facing delays on their bank draft payments from Caffey? Mine should have been paid by now.

BC

Has the well been drilled? Let me see what I can find out.

BH

BC: Phone being disconnected for awhile??
don't call me if/when it's back on.

If your with CKP, just mail me a royalty
check. Been waiting along time.

My advise to all who haven't signed a lease yet is, Don't sign anything at
all, hold tight to your mineral rights.
Remember, this gas field is suppose to
produce for 20 years or more. Just Wait.
There's no rush. There are so many un-produced lease's signed out there it will
be many years for them to get produced.

Don't get in a hurry at this time to sign. You will just be sitting on a dead
lease. No unit, no royalty checks.

sit back, chill, wait for the price of gas
to go up again, wait for them to come
knocking on your door then.

Good Luck.


Tina

While there is a pause--now is the time to educate ourselves about urban gas drilling and gas drilling in general.

I urge you to google "urban gas drilling"

Talk to anyone you know that has a rural gas drill on their land in the country. Ask them about any pitfalls.

We aren't being inundated with all of that advertisement and propaganda so take this pause to gain some knowledge.

already signed2

The main objective when signing an oil and gas lease is to get the minerals produced. I believe Vantage pitch was that the pad side would be contingent upon the leases they get. I'm no dummy and know that you can't drill from anywhere. I also know that XTO was leasing in our wedgwood area and pulled out because they were unable to locate a pad site, so how in the world would a denver based company be able to locate one. I'm glad to be signed with a reputable company like CHK and very fortunate to have this high signing bonus. For the remaining neighbors left un-signed, what is our association left to do, endorse another company other than CHK, and then forever seal the fate that the minerals are never going to be produced and screw us again? Sign with a company that is going to produce the minerals.

BC

Don't call us Bev, we'll call you!

BH

BH remembers very well the posted gross
excess profits made by the oil/gas industry just this last year.

BH buys into the theory that the high price of gas at the pumps was all fat cat O/G-speculation/manipulation of the markets. Ask Aubrey.

BH reads the news and watches the markets.
BH has been watching her WMT shares tank.

BH knows that CKP is/was the most vocal
out there company in the BS. CKP pulls
back, drops prices/bonus's, perks, get
their feelings hurt, get rejected, so
they, like drill bit says, act like cry
babies and say they don't wanna play any
more, they don't wanna pay anymore, they
are moven' their rigs to La., where the
casino's are, where the people "like" them
better and don't give a fig about the
enviornment., or their damn trees.

So, Big Daddy shuts up, loses his personal butt and leave's the building.

All his pals/cronies/associates are doing the same. They are
changing the rules in the middle of the
game, again. They will wait 6 months, come back, and get leases for peanuts.

More games.

Already signed

To Tina & BC:
Think about it - it doesn't affect your home's value one bit. They aren't going to put a wellhead in your yard and it is highly unlikely that a pipeline will even be close to you (which could happen whether you have signed or not). The gas is not going to come up from 7500 ft down to burn down your house either. I have to laugh at the "uninhabitable" comment. How many people in the Barnett have had their house made "uninhabitable", especially those that are in the middle of city? I believe the answer is zero. I suggest that your accountant stick to his spreadsheets and leave the actual operations to those that know.

The true value in these ridiculous leases? The bonus. The value of the SWFA bonus is equivalent to at least 10 times the net present value of the production you will ever see off of your lot. And as for buying a house that has production with it? I don't think you've dealt much with property in producing areas - it isn't going to happen. We'll see minerals severed on most real esate deals just like anywhere else in Texas.

John

BH does not know what she is talking about. Perhaps she needs to read the news on how close we are to a depression and the banking system going down the tubes. And you cannot blame Bush for Fannie Mae and Freddic Mac which started all this crap due to some of the grand Democrats by the name of Chris Dodd, Barney Frank, Barack Obama and Hillary Clinton. The price of oil and natural gas have fallen by 50% which is not at all a bad thing, but economics rule and not the grand conspiracy theory this person speaks about is pure nonsense. Chesapeake business strategy was pure crap and raised the cost of leases to levels that are uneconomic and insane.

BC

News flash to Tina! You probably can't sell the house you live in either! The way I see it, a house with mineral rights in a producing unit is probably MORE valuable. What does everyone else think?

DRILL BIT

No One has done any arm twisting to get a OGML Signed, All the Fort Worth Cry babies " CRY ME A RIVER"

Tina

I think this is a blessing in disguise. I own two homes on the Barnett Shale. I signed a lease with one that I don't live it and I am still waiting on a 12k bonus check. I was offered a 20k per acre on the house I lived in and I turned it down because I wanted more.

I say its a blessing because if give everyone who didn't sign a chance to see how urban drilling effects the areas that they are active. I was reluctant to sign a lease for the house I live in because an oil and gas accountant who is a good friend warned of about the things that could go wrong.

What good will it do to get a few thousand dollars and end up in a home that is uninhabitable and that you could never sell.

BH

It's like I said a year and a half ago,
these bonus payments were un-fair and
conducted like a crap shoot. Gambling
on the value of a person's mineral rights
in the same gas field. You get squat if
you sign 6 months before your neighbor,
who gets mega bucks. No full discloser's
necessary by the landmen in their sales
pitches or cover letters. The can lie
all they want to get your lease signed
because the cover letter language and
verbal pitch's aren't in the lease.

It's like a said, regulations are needed.
Oversite is needed and I don't mean by
the RRC. The state needs to license the
Landmen, funny how they can back out of
a signed proposal, but I haven't been
able to get a "release" of my signed
lease from the company who holds it, even
though It was presented to me under false
terms and conditions for my signature.

Don't buy into the propaganda that its
the economy that is tanking all your big
bonus deals people. It all started with
Cheasapeake and their problems here with
getting what they wanted on all locations
and progressed to the chairman losing his
personal investments (stocks), not the
company's, his wealth--then they leaked
that they were cutting way down and every
one else saw the opportunity to do the same, with the bonus amounts and now they
are all sticking together to get the bonus
amounts paid out back to what it was last
year. It's a con game and naturally, like
always, the ball is in their court.

now I don't feel so bad that I got sucker
punched on the bonus amount paid in July
of 06' right before the mega money started
rolling in. However, I still haven't been
put in a unit or seen a royalty ck.

I hope the city and the airport is happy.
they got theirs. hell, gossage will no
doubt get his too.

Fool me once----what a load of crap this
whole Barnett shale gas drilling in an
Urban area has been. It's great to see
the greedy fat cats get tanked.

dan

You can forget the $25,000/NMA in the future. That was stupid, bad economics and not sustainable and all due to the big head Chesapeake had in the Barnett Shale. Try $4,000-$5,000/NMA in the future if you are lucky.

Bob

Just recieved a letter today from Dale pulling all the contracts they have out there.

Already signed

As someone who has worked all over the U.S. for operators, I have say this shouldn't be a surprise to anyone who knows much about the oil & gas business. It has been an extremely cyclical business since oil was first discovered in the 1800's, and given the ridiculous price of leases here, it was obvious that at the slightest downturn companies would cut and run for MUCH more economical plays.

To those that are angry about the lease, you need to understand that the Barnett Shale play is a business - not a free handout for you to get some house remodeling money. What would you do if you were an investor fronting that money - keep paying for uneconomical leases that virtually guarantee a poor or negative return on your money, or would you do the smart thing and wait to see the full situation? That being said, the general consensus in the industry is that natural prices will come back up, and with that someone will be knocking on your door. It just won't be 27K/23%.

Good luck to those that haven't signed, and thank you to the SWFA for working this deal. It is unfortunate it ended up this way.

CherryCreekEst

SEACTX leaders got news that XTO is cancelling its offers as well in Arlington. The actual agent for XTO in Arlington, Permian has the news also on its site: http://www.permianland.com

Jeff B.

I feel like vantage is taking the cowards way out. What happened to honoring a deal that has been made. I passed on other offers that look pretty good because Vantage gave us there word and agreed to the deal. Now at the first sign of trouble they turn tale and run. I hope someone comes forward and makes this good again.

Jeff B.

I am pretty peeved about this whole cut and run thing. Natural Gas prices are historically volatile. I think it is horrible business to cut and run and leave us holding the bag on this. I passed on other deals because of the sales job the committee and Vantage/Caffey did and now they pull this. The competitors now have all the leverage in dealing with us again. I am sure the offers we get will be no where near what was originally offered by Vantage and then countered by Chesapeake. I will continue to hold a grudge against Vantage for pulling this crud as long as I can.

Ms. Sensible

Mr. Angry,
This is a market driven turn of events. Your volunteer association worked very hard to come to the agreement that was reached. They had no control over this turn of events.

Bob

Even Chesapeake is bailing, it probably would have happened with them also. We have a good association but, had we followed others advice, who wanted to hold out for more, there would have been nothing for noone.

Matt

Guess those people that held out all over the area, not just here are gonna get screwed by their own greed.

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