Enervest & Tracker no longer signing leases near Waelder, where

Texas Mineral Rights Gonzales County, TX
1

Hi All,

I'm afraid I've not kept up with what's happening on the Forum so may be not adding anything that you didn't know long ago. But in any event, I wanted to thank again the people on the Forum who helped me.

Our attorney started negotiating a lease for oil rights for fracking with Tracker on about Dec. 15, 2014. The rights are near Waelder (Canoe Creek and Hwy 794). Tracker was signing leases on behalf of Enervest. Tracker accepted the basic terms of the lease but then got very quiet when crude prices kept falling. On May 26th, Tracker sent an e-mail to our attorney saying they are no longer signing leases in our area but may resurrect the project later.

While the lease didn't close at this time, you guys and gals were all a great help in getting an understanding of how oil leases work. I started from knowing nothing to being very well oriented including receiving a recommendation to hire Wade Caldwell, the attorney in San Antonio. I feel that he handled things well even though the deal fell through due to the price fall. We'll resume with him if and when there's interest in drilling our area.

Thanks again,

Alexandra

2

Crimson more then likely drilled an unprofitable well. At least at $57 oil anyways. They’ll be back.

3

Alexandra:

Not surprising that they have backed off at this time, plus so far they have only drilled wells East of Waelder and North of I-10. Crimson drilled two wells in Fayette County NE of Waelder, one about 7 miles NE and one about 10 miles NE and then they drilled three wells in Gonzales County, one East of Waelder about 5 miles and two about 4 miles NE of Waelder. I believe they are waiting on a pipeline to start producing these three wells, so we don't know much about them at this point. With this said and the location of your property on Hwy 794, it looks like your property is located close to 12 miles West of the City of Waelder and they haven't ventured out that way yet. Hopefully things will look up again once oil prices move up again.

Good luck in the future.

4

Thanks for the info and the good wishes, Bigfoot and Eric.

Warm regards,

Alexandra