Geophysical survey (3-D type)

Oil and Gas Leasing Help
1

I have mineral interest in LOTS 3,4 &5 OF 02-18N-9W and SE/4NW/4 & LOTS 6&7 OF 02-18N-9W

Of which I received a request for permission to conduct a GEOPHYSICAL SURVEY3-D type,

they have not offered to pay anything for the request. Just wonder if it is in my best interest to sign this. The Permit states they shall survive any lease, sale, trade, assignment or conveyance of the Lands made after executed date of this Permit and will be binding on the successors or assigns.

Could some one give me some feed back on this subject.

Thank You,

Russell Burton

2

Dear Mr. Burton,

There is lots wrong with what you have told me. There needs to a limit on when and how many surveys can be done on your property. One is a standard number. There needs to be consideration for a contract to exist. The permit must not be exclusive (more than one survey can be let by you). Notification issues, damage issues, property issues (leaving gates open, etc.) Limiting scope of access. Standoff distances from irrigation, water wells and structures. Indemnity provisions. The list goes on and on.

Is it good for you? If you own minerals, it can be. It is an evaluation technique.

Best

Buddy Cotten

3

Hello Buddy,

Thanks for the up date on information just what I needed to know.

Russell

4

They did the 3D survey ALL OVER around Lindsay and ALL OVER down in Stephens Co where they have now drilled a BUNCH of wells. Their machines were all over the place down here for weeks if not a few months. All I know is that helps them see what's down as much as 2 or 3 miles deep (oil products, etc.) and if it were my land and minerals I would let them do it if I didn't have cattle or a water well close (years ago there activity caused our water well to sand in and we had to drill another). A Newfield Company man told my friend to just imagine the Grand Canyon and that's how much oil, etc. (BOEPD) is down there (in the SCOOP). That was after the 3D showed it to them. I believe all the major oil companies are doing 3D before they drill these deep horizontal wells that are producing so many good wells. They are even setting tanks and laying pipelines even before they finish drilling the wells. That was unheard of when we were in the Well Service business. So they are sure they will make a well even before they start to drill!

I know the 2D ultra sounds that they were doing to see babies in the womb showed the baby well enough to tell what he or she looks like! I think the 3 D shows so well it's like holding the baby in your arms! They say with the 3D Siesmagraphing on land they can see everything that's down there very clearly! Imazing!!!!