Posted by JerryS on January 01, 2013 at 23:01:05 from (98.80.101.176):
In Reply to: Dubuque County Iowa posted by LAA on January 01, 2013 at 22:13:08:
You'll know for sure when the landmen start calling, asking if you'd be willing to lease your land, not that they really want it, you know, and not that they're really sure there's anything down there, but hey, you never know.....
I fell for that when Chesapeake started its stealth program to lock up most of the acreage in the Haynesville Shale. Bottom line: don't accept the first offer you get. I got $250 an acre lease bonus; the ones who held out got up to $10,000 an acre. Heard of the Bayou Billionaires? They live about 10 miles from me.
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