Have at last found quick entry into well results - albeit often 3 months behind - on the following link. You can select several options, e.g. "105 Noble" which lists wells or an individual well e.g. "S36-T7N-R5W" which is Green Acres #1-36H.
Have only tested a couple of examples, but the link is much more straightforward than previous methods.
I guess if the decision goes against you, least you have the solace that you have gathered invaluable experience should you ever need legal again. But I that it all works out, no-one likes to see anyone lose money especially to a bunch of rich kids who basically twiddle there thumbs half the time.
Thanks friend, am on a bit of a steep and nasty learning curve - has felt for some time like I've been tiptoing across a giant snakes and ladders board infested with giant snakes but only tiny tiny ladders!
hi MudPump, Ill take a stab at your post. From my understanding of how it works is that mineral rights are divided way back when the initial settlers laid claim to land; this explains why the non round numbers occur because that land has been split and divided amongst potentially hundreds of people since the settlers received there land. I don't believe that there is a market outside of the leases I think its simply a case of if the driller doesnt want the risk they will farm down a % of the lease or indeed offload it. There is no privileged relationship between MAGP and the majors or any other company for that matter, by law if they own a % they have to be included or at least given the option to take up their part of the drilling costs. Going back to my point about NRI that is decided my the current market returns usually the NRI is between 75 to 80% of the W.I and the rest is the royalty that goes to the land owner. If MAGP wants a larger slice of the pie I guess they could speak to the operator and try and farm in but I think this is unlikely. The model is based around piggybacking these majors and getting the land that they can't be bothered to pick up themselves. As for scaling it more applicable for the company to just pick up higher % of land...In a sense it has already scaled up because overtime it has continued to raise their average NRI overall. I hope this answers your questions, if anyone feels I am off please feel free to add
Good afternoon Iam, BIG C, Lion and the rest of the crew I havnt mentioned its been a while
Just looking in to see if there is continuation of the "dark pool". Yes, confirmed. Sticking with it is going to require tenacity. It also raises a question on identity of nominee stakeholders, whether the overall percentage is increasing and/or the nominees are confined to a very small number of parties. BigC - Commiserations. Have been there - fortunately never in UK where costs are punitive and outcome seldom fair. MudPump - Your queries are justified. Any answer offered would be a shot in the dark - one reason why I am keen to see section/range/etc disclosed when a well participation is taken on. It also enables examination of various factors such as pooling. Royalties to be paid will also be a consideration for establishing a NRI.
Thanks for your good wishes my friends. Re no no win no fee NO not on one of those unfortunately, so am having to pedal this canoe vigorously myself. The only problem is that the size of the cojones needed to progress this are causing a bit of drag through the water.! LOL. My experience with the legal "profession" has been extremely disappointing to say the least ! TRUE STORY - There was a pub I knew called 'The Honest Lawyer' - needless to say it had to close due to lack of business !.Boom Boom !! All they are interested in is sending you large bills mainly for basic admin work, and it's only get to barrister level that you can get an actual opinion (Kerrching !!!!) And in my case my brief says I'm not going to win.! Problem is by this time you can't back down or you pick up both sides legal costs anyway.! The whole system STINKS to high heaven , and perhaps explains why ao many politicians are former lawyers. Sorry for the off piste rant everyone .. Anyway I am still hopeful of proving them wrong! So if someone suddenly buys an unexpected shed load of here it may indicate that I have won ! BTW its good for see that so so many magggie stalwarts are still around.
Still here and ever faithful to Maggie but in squeaky situ at moment. I had to create some losses to offset against a CGT gain on property this year so thought that the drifting, no action August would be the best time to wait my 30 days before being able to buy back. Therefore, for the first time in 3 years, I've sold some of my stake for a loss (still have them in my SIPP, etc) but having to sell at around 1.02p was very unpleasant! Can't wait until end of month when I can reinvest and will actually increase from original holding if still at these levels...or lower! For the first time ever, I'm hoping that TW prediction of 0.65p becomes a reality over next 3 weeks so that I can pick up a notifiable holding later!!!!
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