NEIGHBORHOOD GROUP member meeting exceeds expectations! (Part II)

[continued from Part 1]

The primary task of this committee is to work out the best, most favorable and well thought out gas lease terms to present to the gas companies which are seeking to lease our mineral rights. The committe will begin work on this right away and will likely meet early next week to begin nailing down contract details.

One other major announcement is that, as a courtesy, the Texas Conference Association of Seventh Day Adventists has granted us access to their attorneys in matters regarding the NEIGHBORHOOD GROUP gas lease contract. This means that our group we will be able to tap into their knowledge and expertise and the experience of their oil and gas attorneys will add another layer of professionalism to our efforts.
As I stated earlier, the main purpose of this meeting was to bring our members together as a group. This accomplished several things. First, we were able to collect data forms from many of you. This will keep our member list as up-to-date as possible. Secondly, last night’s meeting let everyone know that we still have a little more ground to cover regarding the gas lease negotiations. Now that we have a Negotiating Committee in place we will be able to begin hammering out the contract details that will best serve our community. Also, going forward from here we now access to some much appreciated expertise and knowledge in this arena, namely, the Texas Conference Association attorneys.

Finally, this meeting provided a first-hand look at the strength of numbers that our group represents. That was impressive, in my opinion. Quite a change from where we were serveral months ago. I know that with your help we will continue to expand our group for the good of us all.

I will to provide updates on the Negotiating Committee’s activity as I am able to report them. Naturally, the committee will, at times, need to keep certain information restricted in order to more effectively advocate for you and secure the best possible gas lease deal for our group members.

Rest assured that we are working with your best interests at heart. And since we are “neighbors helping neighbors” your best interests are our best interests as well.

Thanks and congratulations to everyone who showed up last night. Your presence made this meeting a pleasant surprise for me personally and a big success for our common cause.

NEIGHBORHOOD GROUP member meeting exceeds expectations! (Part I)

What an incredible sight to see a standing-room only crowd turn out for at last night’s NEIGHBORHOOD GROUP gas lease meeting. A special thank you goes out to Burton Academy for allowing the meeting to take place in their gymnasium. There were approximately 300 neighbors and friends taking up every available space in the auditorium bleachers. And there were many dozens more standing along either end of the basketball court.

I heard from several neighbors who wanted to attend who found the parking area completely full when they arrived! For those who either were unable to make it to the meeting due to prior committments or other reasons, this brief recap will let you know what was discussed.

This meeting was really about getting all the members together and getting all of us on the same page as to where we stand as of this moment and what our next step will be.

At the beginning of the meeting Bob Haelle briefly went over the history of offers that had been put forth by some of the land brokerage companies. He noted how things have changed in a few short months. The initial offer was received in this area was from from Dale Property Services for $5500 per acre with $1000 minimun, 25% royalty and 5 year primary term. Another broker has been trying to make inroads in this vicinity and the competition between the two has been driving the per acre price steadily upward. The last written offer received was from Dale was for $7500 per acre and $1200 minimum, 25% royalty and a 3 year primary term with a 2 year option. Bob contrasted those offers with the agreement that was recently reached between a nearby alliance of homeowners associations and Dale Property Services.

Bob also announced that the cutoff date to join the group would be extended. Regrettably, if you have already signed a lease contract with Dale or any other company joining with our group to negotiate a contract is simply not an option for you. For everyone else, there is still time to call on your neighbors and get them to join us as we negotiate a favorable gas lease deal for our group. However, there will be a time when we announce a cutoff date to join our group. For now, though, there is still time to get more neighbors on board with us which will only serve to further bolster our presence at the bargaining table.

Seeing the great turnout last night was a good confirmation that we are on the right track in building our group. The messages of support and encouragement we’ve received from many of you in the last several weeks has been energizing. And now, NEIGHBORHOOD GROUP is ready to proceed to the next stage, the formation of a Negotiation Committee. This was the first major announcement last night.

The primary task of this committee is to work out the best, most favorable and well thought out gas lease terms to present to the gas companies which are seeking to lease our mineral rights. The committe will begin work on this right away and will likely meet early next week to begin nailing down contract details.

[continued in Part 2]