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Need a Memorandum of Intent (MOI) |
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As you are aware, we are somewhat in a holding pattern due to the financial market crisis and the trickle down implications thereof. In the meantime, we are being proactive and continue to increase our density by recruiting new members and with good success. Our membership continues to climb and we are growing at a rapid pace while awaiting the temporary smoke to clear.
In spite of the recent financial crises, one positive we continue to see is evidence that the gas companies are still busy in our area. Also, of note, Chesapeake has apparently purchased the Gators Bar and old hotel facing Airport Fwy with plans to renovate the property for a local office.
Cold weather will soon make a greater demand for natural gas and with the election over, we expect the market to stabilize and the price of natural gas to rise. Likewise. we anticipate that with the rise in the price of natural gas will come more active leasing negotiations. In fact, some are already jumping the gun and using the Christmas holidays as a reason to take a pro-lessee 2 page lease. But don't be misled...they still have a need for our gas or they wouldn't be investing in our community and we have enough members to make a difference at the table when they are ready to deal.
Finally, remember that the signing bonus is only one factor we have to consider. The terms of the lease, which will possibly impact us and our heirs for 30-40 years to come could and should be more important than a fleeting signing bonus. If you sign the standard gas company lease form as an individual, the lease form will not be in your favor. We have to stay united if we are to combat their well-conceived and implemented tactics.
Again, we ask for your patience as we continue to work toward the combined success for our property owners. |
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10/21/2008 A Slow Economy Slows Our Progress |
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Several gas companies are rescinding offers made but not executed, pending an improved market (lower bonus amounts and/or higher natural gas prices). However, they are retaining the leases they have already executed. The gas companies and people wanting to lease their mineral rights are all casualties of a financial crisis in our global economy. While things look bad for the moment, most involved believe this to be a temporary situation. And remember, the lease bonus is but one component of the lease terms, and it's the most temporary one in that the other important terms will live on during the life of the lease. In spite of the state of our economy, WENA is being proactive. Our negotiators met October 13, 2008 to discuss lease terms and strategies when they do get back to the table. We sent almost 400 letters to holdouts in our area encouraging them to join us and we are getting a good response from those letters. We haven't given up and we hope you realize that it is to your benefit to stay with a large group through the crisis. It helps to know you're not in this alone. You're in good company... Warren Buffet is investing his money in the U.S. stock market...T Boone Pickens is investing in alternative energy...natural gas happens to be one of those alternative fuels for automobiles, which will cause a greater demand for natural gas. Both presidential candidates recognize that our country must get serious about developing alternative sources of energy to make us self-sufficient and again natural gas is one of those alternatives. When our economy stabilizes, we will be back at the table negotiating for a good lease at a fair price for our mineral rights. In the meantime, don't let anyone scare you into signing a long-term lease that isn't in your best interest. |
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October 3, 2008 Update - Welcome Oakwood Terrace - We are proud to have Oakwood Terrace join us! |
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Based upon the commonality between the two groups, the West Euless Neighborhood Alliance (WENA) and South Euless Oakwood Terrace have banded together for the purpose of strength through joint negotiations. Hereinafter, in order to help provide notice and keep everyone on the same page, members of the combined group will be mostly kept informed through the WENA website: www.westeuless.com. Members with email will be responsible to check the website for periodic progress reports. The people in each group without email will continue to be informed through their group's telephone committee as new information is posted on the website. By combining our groups, the area we now cover includes all of the properties that are West of Main Street, South of Hwy 183 (Airport Frwy) and to the southern and westernmost borders of Euless (excluding Morrisdale which has already signed a gas lease). For several reasons, it is imperative that we try to get as many of the remaining "holdouts" or unleased property owners in this area to join the coalition by signing MOI's. Our newly formed alliance is in the early stages of negotiations with at least two gas companies and is working quickly to develop and negotiate lease agreements that can benefit all of the participating property owners. Both leadership groups have worked extremely hard during the past nine months and joining together enhances the opportunities for all. |
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July 24, 2008 WENA Meeting Summary |
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July 24, 2008 WENA met at the Restoration Church in Euless, TX. David Schmidt, one of our Organizing Team Members, moderated the meeting. He updated the members on the progress we have made since our last meeting and thanked those who worked so hard to make it all happen. He also thanked Restoration Church for their generosity in allowing us to use their building for our meetings. David then introduced our attorney and lead negotiator, Mark Nastri, to the membership of WENA. Mark spent the next 45 minutes speaking about gas leases and what we want to accomplish as a group; what we can expect from a lease, the importance of staying united, each member taking responsibility to speak to the holdouts on either side of them or across the street about joining us, how soon we can expect to negotiate a deal depends on how soon we get most of the holdouts signed up, keeping members informed, and asking the lessees to pay our attorneys fees. After Mark's presentation, he had an open forum for the members to ask questions, which lasted another 45 minutes. Some issues that are important to our members: environmental protections, cost-free royalty, requiring the lessee to cover any costs of obtaining subordination agreements, and bonus checks to be paid in a timely manner. We will keep our members updated on a regular basis. If you have property south of Hwy 183 to the southern border of Euless, west of Hwy 157 to the western border of Euless excluding Morrisdale, which has already signed leases and wish to be kept updated, you need to sign a "Memorandum of Intent," which is a downloadable document on this website. Click on the document, print it, fill it out and mail it to Patty Cook at the address on the bottom of the document. |
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Mark Nastri selected as WENA attorney! |
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Click the Read More to learn more about Attorney Mark Nastri.... |
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Read more...
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The West Euless Neighborhood Alliance (WENA) met May 29, 2008. David Schmidt, an organizing team member, moderated the meeting. After David introduced our Block Captains and Negotiating Team, he recognized those who have taken leadership roles and thanked Restoration Chuch for providing a meeting place for our group. Next, David discussed our progress, gave members information about education resources and encouraged those who haven't yet signed an MOI (Memorandum of Intent) to do so. Last on our agenda was a question and answer session in which many of our members participated. It was noted that things are heating up in our neighborhood with more offers from landmen, which is a good sign. Finally, David stated emphatically that WE WILL CONTACT YOU BY EMAIL, WEBSITE OR PHONE ONCE WE HAVE A FIRM GOOD OFFER. EVERYTHING ELSE IS JUST RUMOR and should be treated as such. David reminded the members that while there is no cost to join our group, we do accept donations to help defray the costs of printing, cell phone, website, postage, yard signs, etc. David closed the meeting by announcing that we will have another meeting soon and will post that information on our yard signs as well as contact each member via email or telephone. |
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An Arlington group has just received an offer for $25,000 per acre. Join us, your neighbors, as we work together against the inferior offers currently being given in our neighborhoods. |
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A Neighborhood Group Forms to Negotiate Best Gas Lease Options |
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GOT GAS WITH NO LEASE? DON’T SIGN THAT OIL & GAS LEASE BEFORE YOU TALK TO US! IN ORDER TO NEGOTIATE A BETTER LEASE WITH THE GAS COMPANIES, WE ARE ORGANIZING OUR NEIGHBORS WHO HAVE NOT SIGNED A GAS LEASE! Like us, you may have received a revised offer from a company wanting to pay you an $8,000/acre bonus and 25% royalty. BEFORE you sign, you need to know that EVERYTHING is negotiable. Other neighborhoods have negotiated as large groups and achieved much higher numbers. Here are the ACTUAL final agreements some other neighborhoods were able to get: LAND AGENT BONUS/PER ACRE ROYALTY TERM OPTION Cheaha Land $19,000 25.5% 3 yrs 2yrs/$12,667 Dale Resources $17,000 25% 2 yrs 2yrs/$17,000 Using the approximation of 5 lots per acre, you can figure what your share might be worth. Your individual lot size will determine the size of your signing bonus. We are organizing the area west of Hwy 157and south of Hwy 183. There is strength in numbers! The best deals go to the neighborhoods that are able to organize, command acreage and compete for leases. If you are interested in being part of an organized group that will negotiate a better lease at a fair price from the drilling companies, please sign a MEMORANDUM OF INTENT, which is available today or on our website @ westeuless.com There is no fee to join us! (While there is no fee to join, expenses have been incurred in order to keep you informed. Donations would be appreciated to offset those expenses.) Occasionally, we need volunteers to help distribute flyers in your area. If you can help, please call Patty Cook @ 817/566-3030. • To lease, or not to lease, is an individual decision.
• The West Euless Neighborhood Alliance is only providing information and is not making any recommendations.
• The information being presented may, in no way, be construed as legal advice.
• The West Euless Neighborhood Alliance is not in the oil and gas business nor has it received any funds from the industry. |
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