thank for the info.
Calston Exp. is drilling now on the 11-J Corp. Mimi #1, 067-30769 (11,000' V Wildcat), in the W. Donaho Survey, A-250. They have one rig in the county at the moment.
I have an offer of $200/20% royalty in the Dyer survey west of atlanta. I was told this was for a horizontal oil well.
Is the offer from Calston Exploration via Genesis Land?
Well, I started this discussion about 10 mos ago. After much time, we finally leased w/ Pegasi Energy thru Right of Way Land Svcs at $200/acre, 20% royalty & 3 yr term w/ a 2 yr option at $225/acre. Despite our efforts to negotiate, they were not as willing as would have hoped. We were told that they planned to drill to the Cotton Valley and possibly as deep as the Brown Dolomite. We tried to add formation restrictions to our lease, but they refused. There were several other family members involved on our deal who pushed to lease.