Several wells were drilled north west of my house, approx 20 miles, that were around 3700 feet deep, and free flowed into the tanks for a month without a pump. The reason the perception was we had no oil, is due to the drilling cost. Oil has to be above $70/ barrel for it to be profitable. America is one of very few countries were the oil companies have to deal with individual mineral rights owners and not the government collectively. In other words they get away without paying large royalties. Typically here in the US they pay a 30% royalty to the mineral rights owners. That money is usually split up in 1/8 ths rights or however it was originally. I have a 0.00223230 interest in a well my grandfather had a 1/8 right to from the 1940s. I SPEND the money, and so do the others. Especially because it doesn't amount to millions but hundreds a year for me.
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Today's Featured Article - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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