Lake Worth August 5, 2008 (negotiating w/Chesapeake Energy)
1. $30,000 per acre
2. 25.25 % royalty
3. 1200 property owners and 650 acres
Ridglea Hills August 5 week 2008 (Chesapeake)
1. $25,000 per acre
2. 25% royalty
3. 1600 property owners and 640 acres
Watauga July 23, 2008
(Spartan offer)
1. $13,000 per acre
2. 25% royalty
3. 3 yr lease with 2 yr option
XTO offer:
1. $10,000 per acre
2. 25% royalty
3. 3 yr lease with 2 yr option and another $10,000 bonus
Mont Del Lease
Nov 2007 (original offer)
1. $10,000 per acre
2. 25% royalty
3. 5 yr term
June 26, 2008 (XTO represented by Carla Petroleum)
1. $22,500 per acre
2. 25% Royalty
3. 3 yr option for another 2 yrs signing bonus of $15K
4. Extra $12,500 paid by XTO to Homeowners Association
5. property measured to middle of street
North Central Group Arlington June 3, 2008 (Chesapeake)
1. $27,000 per acre
2. 26% royalty
3. 3 yr initial term with 2 yr renewal option at same bonus rate
4. fee-free lease agreement
Burleson May 6, 2008 (Chesapeake)
1. $27,200 per acre
2. 25.25% royalty
3. XTO offered $22,000 per acre and 25.5% royalty
Wedgewood Southcliff – April 23, 2008 6 neighborhoods combined which represents 5000 homes & 2000 acres. Shopping Center potential site for drilling 2 offers:
1. $17,000 per acre represented by Carla Petroleum (XTO)
2. 25% royalty
3. 3 yr primary term and additional 2 yr option
1. $13,000 per acre by Dale Resources (Chesapeake)
2. 25% royalty
3. 3 yr primary term and additional 2 yr option
Timbercreek April 17, 2008
1. $7,000 per acre
2. Fleet Oil/gas (turned over to XTO)
3. 25% Royalty free of costs such as transportation
4. 3 yr contract with 2 yr option
Marine Creek March 14, 2008 (Offer expires in 45 days)
1. $5000 per acre
2. 25% royalty
3. 3 yr term with 2 yr option
North Benbrook Jan 22, 2008
1. Chesapeake $15,000 per acre
2. 25% Royalty
3. 3 yr contract with 2 yr option
4. DID NOT include measurements to center of street for signing bonus but is included in royalties
North Benbrook November 2007 (Chesapeake)
1. $5,000 per acre (originally $4,000 per acre)
2. 25% royalty
3. 5 yr term
