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Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies
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To: Aggie who wrote (304)7/26/2000 12:59:09 PM
From: isopatch  Read Replies (2) of 318
 
Greetings Aggie

This my 1st post on SI.

Your post brings up an issue that many investors, without a window on field operations, are not fully aware of. Many oilmen have definitely been very slow to increase their spending, so far, in the recovery portion of this oil cycle. It's even more pronounced in basins where there is little or no NG.

This is the case, in southern Illinois, where I've been in negotiations to obtain some non-producing lease tracts since Feb of this yr. We finally got our 1st, a nice little 34 acre tract that we hope to augment a parcel to the east and one to the west. Being the keystone of the planned 3 lease prospect it took awhile to dicker over easements and right of way to access one of the adjacent properties which has no road access of its own.

In any case, my landman whose been in the biz 30 yrs tells me he's simply astonished how dead things are. Almost nobody is leasing yet. But that's OK by me. Just hope it stays quiet till I get a full plate.

All the best

Isopatch
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