re: Lots 5 and 6 and the West half of the Northwest Quarter of Section 36, Township 8 North, Range 1 West.
Any information on United Land Company, LLC and their proposed Cub 36-4H, a horizontal Woodford Test well with an estimated total vertical depth of 6300" with a total measured depth of 11,320' to be drilled on a 640 acre unit consisting of Section 36-8N-1W. They have sent a "pre-lease" agreement for me to sign with "options" that are quite unacceptable, for example $200. per net acre bonus lease consideration with a 12.5% royalty up to a 20% royalty with no bonus lease consideration money). I haven't even seen their proposed lease. They also give me the option to participate with my interest by paying my proportionate share of the drilling costs (Authorization for Expenditure--between $1,971,900.00 - $3,816,400.00)! I have never had any such proposal. Any information on this Section/Township/Range and this company would be greatly appreciated. I have to admit that I find it more than annoying that their letter takes the position that this well is going to be drilled soon, and I have a total of 4 options (without even seeing the actual lease), and I can simply take it or leave it. Arrgghh. My mineral interest is quite small, but I represent both myself and two of my siblings. I do not live in Oklahoma. I can be contacted at
rhicks2@austin.rr.com
Thanks.