Thanks, Rick
Thank you Rick & Country Boy!
Rick - the link you sent is only one page. Should there be more information? This IS the first time anyone has been contacted. In fact, I believe my aunt was the first person they contacted and that was about 5 days ago.
Is your best recommendation that we seek an attorney right away?
How can we find whatâs going on?
Finally, I apologize for all of the questions!
Leisa
By the letter of the law, the state has made a default election of a 1/8RI if you failed to make an election within the allotted time frame.
If I was in your situation, I would contact a qualified attorney immediately to see if that could be corrected. Any delays will make it even more difficult.
An election of 3/16RI would pay 50% more off production sales than 1/8RI. At 20 acres that could be a very large amount of income lost.
I would send it in with a note that you forgot to put a stamp on it last time or was out of town and make an election for whatever you eant and ask that they let you know if that was still ok or should you seek an attorney. I would do it todayâŚ
Contacted both Freedom & Echo. Both amenable to a good bonus and royalty. Anyone have a good reason for dealing with one rather than the other? Am I correct in assuming this is not the time to âfoot dragâ? How many days or weeks before we have to get something done?
thanks
J Donley
Thank you Rick Howell!
We reviewed the document and yes our family name is on there.
Suggestions?
Thanks to John McClain for all assistance!
J Donley, Just make sure they agree to the clauses you want attached to the lease. I did not get the original proposals from Red Sky, but the Continental Landman I talked to did not offer a 1/4 royalty. So the only urgency would be if Continental does not offer a 1/4 royalty in this area then Freedom or Echo could back out of the deal if they havenât paid you before the pooling.
J Donley, it depends on what location you are talking about. I wouldnât get in any hurry until they file a pooling application. I am also mulling offers from Freedom and RedSky.
I went back and looked and I think J Donley is talking about 25/1n/2w.
If RedSky offered you a 1/4 you should be fine as they will also use it in the pooling application. My interest is in 22 1n 2w. They have pooling hearing this month on it. My name was spelled incorrectly on the application so I didnât get any offers from them.
What happened to the Studdard? I will try to keep my eyes open as well.
re: sec 25: T1N- R2W. I did alot of research trying to find out as much possible about Freedom Oil & Gas and Echo Energy. Echo is pretty open and transparent, but can find nothing about Freedom. There is a Freedom Oil & Gas in Salt Lake CityâŚwondering if that is same Freedom leasing in Garvin County? Have contacted both and trying to determine which company to lease with. Would like to lease to Continental [RedSky] but they seem very inflexible. I do appreciate all of the feedback from youâll and any suggestions are appreciated.
J Donley
J Donley, the offer I got from Freedom has a PO box in OKC and a 405 phone number.
Vicki, anything new on section 17 2N 3W? Name yet and any thoughts when they might drill?
Karla, Iâve not heard anything on 17 since you and I last talked. Wish they would start drilling pretty soon though because I just received first payment on the Studdard and it was not very pretty. I just donât have much holding in 20 & 29. Iâve been looking for the permit to drill âour wellâ but Iâm not sure if I can find it. I canât remember if the permit is listed under the sec w/SHL or sec w/first perforation. Anyway, Iâve been searching for it both ways and havenât seen anything (but as I mentioned, that doesnât mean a whole lot)
Just saw the rig up on Section 28 (2N, 3W) the Riddle 1H-9XX. Best I can tell it goes through Sections 21,16, & 9. My question is: will the Section 28 mineral holders receive anything from this? I couldnât find on the permit to drill where it stated percentages for any of the sections.
Pamela,
28-2N-3W is the surface location only and will not share in the production income.
Complex Structureal Features of the Ardmore Basin, By, R.W. Allen, Search and Discovery Article #10027 (2002) Found this a few months back. It is the most recent public information about the geology in southern Garvin county I have found yet. Appears this area is considered to be in the Ardmore basin, according to this article.
Darla, I have not been able to find the addendum you suggest adding to a lease. could you point me in the right direction?
thanks
J Donley
J Donley
I just sent you a friend request. Accept and then message me your email and I will send you what I use. I have never looked to see what others are recommending on here.