Fayette County, TX - Oil & Gas Lease

Actually, I found your tract. You will be getting the 2 year option...no doubt....the $500 is cheaper than the $650 they are paying now.

Penn will drill the Big Five unit Devon already permitted...however, the permit will change. Penn just got finished leasing the land that had expired there. there will be 1 unit made to the east of the Big Five that will border the Olsvosky unit...You, Larry will be in that one. The units to the north of Olsvosky, and the units to the east of Prost unit "I" will be in 2019, since Penn has 1200 acres of 2year options expire in march 2020 in that area (the ones they are paying the options in March 2018). Penn just leased last month, another 800 acres in that area that had expired in that area as well, since it is close to their pressure boundary, and Area 2 looks to be better than Area 1 at this point.

Only issues here will be the tracts that leased to delago...about 6 in the Mary Lewis and fox surveys. i heard if Delago is unreasonable, that Penn will just not include those tracts in any units it will make. I know Devon did that a couple of years ago in 2 units close to Hwy 95.