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"HOA
Board Officers for 2008
President: Pete Shryock
Secretary: Wade Mount
Treasurer: Mike Landon
Communication Enhancement Plan
Liaison: Kevin McCormick
About Roofs
"ROOF AND VENTILATION CHANGES ANY CHANGES TO ROOF STRUCTURE OR ROOF VENTILATION MUST HAVE APPROVAL FROM THE ACC" Annual Meeting Notice and Forms April 30th
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ With the recent storms we realize that many of the Walnut Creek North Homeowner’s may have to have their roofs replaced. Unfortunately this can be a major inconvenience as well as expensive. The Board of Directors is very sympathetic for all of the homeowner’s facing these issues. To assist you regarding the replacement of your roof the Board has provided the following:
If you
should need any further assistance
please contact Circle C Properties at
972-578-8462 Ext. #3. Edge Resources - 817-870-0130 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
04.14.08 "YOU ARE PART OF THE DEBBIE LANE POOL"
Dear Homeowner, The Walnut Creek Connection subdivision is part of the Debbie Lane Pool. Over the past few months, you should have received mailings from a company called Edge Resources informing you of their intention to acquire your mineral rights via an oil & gas lease. Below are some of the frequently asked questions with answers to help you make an informed and educated decision. What is the “Debbie Lane Pool”? The Debbie Lane Pool is a coalition of 17 subdivisions and was formed in response to the oil and gas lease proposed by Edge Resources. Over the past few months, the Executive Committee, comprising of 15 members from the coalition’s subdivisions, have gathered to evaluate all offers and meet with the energy companies. Am I in the pool? If you live in any of the following subdivisions, then you are automatically a part of the pool, if you so choose: Auburn Park, Pleasant Acres, The Trails, Dover Heights, Antigua I-IV, Ember Creek, Claremont, Walnut Creek North, Shannon Creek, The Oaks, Bryant Place Addition, Walnut Creek Connection, Walnut Creek Valley, Farmington Estates, Country Hill Park, Hunters Row, Matlock Center Addition, Walnut Creek Corner, Walnut Creek Manor, Walnut Creek Plaza West, and Walnut Creek School. Who is Edge Resources? From their website, Edge Resources L.L.C. is a Fort Worth-based oil & gas exploration and production company focused on the acquisition and development of natural gas and oil reserves in the Barnett Shale play of Texas and other targeted North American areas. http://www.edgeresourcesllc.com What are the lease terms with Edge? • Bonus: $17,500 per net mineral acre to include minerals under roads alleyways, etc. with a $3,000.00 minimum per lot. • Term: Three year term with an option to renew the lease for one add’l year at $11,000 per net mineral acre. • Royalty: 23% Cost Free Royalty. Lot size for royalty purposes shall include minerals under roads, alleyways, etc. • Surface Rights: There shall be no surface use without the express written consent of the surface owners. • Guaranty of Title: The mineral owners will not be required to guaranty title. Where can I review the actual lease that’s been agreed upon and get more information? The Debbie Lane Pool has a Yahoo Group Page that all pool members can join to ask questions and review the actual lease document that you will be signing. http://finance.groups.yahoo.com/group/Debbie_Lane_Pool. Also, please check out the Star-Telegram’s Barnett-Shale blog http://startelegram.typepad.com/barnett_shale. Do I have to sign a lease? No! You may sign with anyone you choose or not sign at all. DISCLOSURE PLEASE READ CAREFULLY The purpose of the Debbie Lane Pool is to unite our neighborhoods in the hopes of negotiating a fair lease with an oil and gas company. In the event you elect to sign a lease on the terms approved by the Debbie Lane Pool, each homeowner is advised that (1) they have the right to negotiate their own lease terms with any oil and gas company of their choosing, (2) they are not obligated to sign a lease with an oil and gas company, (3) it is their responsibility to investigate all lease terms, including the royalties and bonus conditions, (4) they should take such action as necessary to make an informed decision prior to signing any oil and gas lease, including any lease offered by Edge Lease Acquisition Company, Inc., and (5) their decision to sign a lease with Edge Resources, L.L.C or any other oil and gas company is made after fully researching this matter independent of any other information provided by the Debbie Lane Pool or its Executive Committee. Do I own my mineral rights? Title runs are in the process of being conducted by Edge. You will find out more information at the signing party
Who is Dale and what is this other offer I received? Dale Property
Services is a company that acquires lease from neighborhoods such as
yours and sells (“flips”) them to drillers such as Chesapeake. Dale
is NOT a drilling company. The offer you received is an attempt by
Dale to “steal the deal” the Debbie Lane Pool has negotiated with
Edge Resources
Why should I sign with Edge instead of Dale? Ultimately, it’s your decision who to sign with, if you so choose to sign. With that said, the Debbie Lane Pool strongly believes the offer from Edge is superior for the following reasons: 1. Dale's lease has not been reviewed by an attorney or negotiated by our Debbie Lane Pool. If you choose to sign with Dale, YOU will need to review the contract yourself or hire an attorney to review it for you. Notice how Dale did not send you the actual lease agreement for you to review before the signing day. 2. Although Dale is offering $1,000 per acre more in the bonus, this will only amount to approximately $200 (before tax) for the average homeowner in your subdivision. Ask yourself if the extra $200 is worth the uncertainty of the agreement that you are entering into, which has not been reviewed or approved by the pool or the pool’s attorney. 3. Dale was given an opportunity to negotiate with the Group. However, Dale could never provide any evidence that it owned a drill site and could actually put a drill near our group. To this day, Dale does not own any property on which it can drill in the Debbie Lane Pool. 4. Dale/Chesapeake's drill site is very small. With a required minimum setback of 300' from the nearest property line, there is minimal space for a well and frac pond. Edge's property is 29 acres and will hold up to 20 wells. It appears to me that 20 wells would be in the best interest of the group as more wells equates to more royalties. 5. Chesapeake has leased a considerable amount of land all over the Barnett Shale. We believe it is physically impossible for them to drill on every lease any time soon due to an apparent shortage of manpower and equipment. Edge plans to drill immediately. 6. There is no indication whether under Dale's lease what expenses we will be responsible for, whether it is truly cost free, if the royalty is being paid at the well head, if we are paying for transmission cost, if we will be responsible for installing transmission lines to the nearest gas line, if we are paying for a pump house, or if Dale will pay for the subordination agreement. These costs are not included in the Edge lease and Edge has agreed to pay for the subordination agreement. 7. Several homeowners have represented to me that Dale is telling them "Chesapeake owns the drill site" and "The Debbie Lane Pool has approved Dale's offer." Do you trust a company that would knowingly make such misrepresentations? 8. We believe that if Dale splits the pool, which is all they are going to accomplish, this will diminish the royalties that can be produced from Edge. Are diminished royalties in the best interest of our Group? Did you know that if two pools are formed (1 with Dale and with Edge), neither company can drill within 330 feet of the other's pool? This could ultimately result in a 1 mile x 330' strip of land that cannot be drilled. 9. We believe there is a tremendous safety risk of allowing rigs access to the drill site immediately next to a busy intersection (Debbie and Walnut Creek)? Is it in the best interest of our neighborhood to create an unsafe condition? These are just a few points to consider in deciding with which energy company you should sign. While you are free to sign with whomever you choose, the Debbie Lane Pool Executive Committee has approved the offer with Edge Resources. What do I need to do now?: Thoroughly review all the information you have received over the past few months and make an informed and educated decision that you believe is in your and your family’s best interests. DO NOT SIGN ANYTHING UNTIL YOU COMPLETELY UNDERSTAND THE AGREEMENT YOU ARE ENTERING INTO. If after investigating all the information and you believe it’s in your best interests to sign with Edge resources, then please bring to the signing party your spouse (if applicable), a valid photo identification, social security number and if possible, any other specific documentation to your property such as probate wills, divorce decrees, marriage licenses, heir ship affidavits, et al. When are the signing dates and times? The lease signings begin Monday, April 14-Thursday, April 17 from 5:30 pm to 9:00 pm at Brooks Wester Middle School Cafeteria, 1520 North Walnut Creek Drive. If you are unable to sign during these times, Edge will be opening a satellite office on Friday, April 18 at 2400 N. Hwy 287, Suite 114. The hours of operation for this office will be Monday-Thursday from 11:00 am – 7:00 pm, Friday from 8:00 am – 12:00 noon, Saturday from 10:00 am – 2:00 pm and closed on Sunday. This office will be open for approximately two months and no appointment is necessary."
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 4/9/08 URGENT INFORMATION REGARDING THE MINERAL RIGHTS ISSUES BETWEEN EDGE RESOURCES AND DALE PROPERTY SERVICES
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 1. Please see the flier (below) from Edge announcing the signing party.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 04/09/08 Update
It has come to my attention that Dale Resources
has sent out flyers to
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"Mineral Rights Update 4/4/08
Please bring your driver's license and social security # to the
lease signing party. If you have unusual circumstances (i.e., spouse passed or got married since you purchased the home), please bring a copy of all paperwork to support any issue you may have
Edge's contact information is 817.870.0130."
Pete Shryock
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"UPDATE AS OF
3/31/08
Pete Shryock
In the event you are not able to sign the lease on April 14-17, Edge Resources will have a satellite office at Newport Office Park, 2400 N. Hwy 287, Suite 114, Mansfield, TX 76063. This office will be open for about two months after the signing party and you can sign during normal business hours. THE OFFICE IS NOT YET OPEN. The lease is being finalized and the office will be available shortly. I will advise you when the office is open. Stephen Polozola ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"UPDATE AS OF
3/12/08
"The Debbie Lane North Pool, which Walnut Creek North is a member of, has agreed to the following offer made by Edge Resources;
1. Signing bonus of $17,500.00 per acre with a minimum bonus
payment of $3000.00 per lot.
2. The agreement is for three years with a one year extension. If
they do not drill in three years, they must give us another
$11,000.00 per acre for the year extension if they want the
extension.
3. 23% Royalty.
If you have mineral rights, you should receive a letter within 30
days from Edge and it will give you a date and loction to sign the
mineral rights contract.
NOTE: IT IS YOUR DECISION TO EITHER ACCEPT OR REJECT THE
ABOVE SIGNING BONUS AND ROYALTY.
PLEASE GO TO
http://Financegroups.yahoo.com/group/Debbie_Lane_PooL/
for additional information."
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "UPDATE AS OF 2/26/08
You also
can find additional information regarding
our negotiation efforts on http://finance.groups.yahoo.com??group?Debbie_Lane_Pool/
Edge Resources has offered
$17,500 an acre bonus and a 23% Royalty.
However; they put some contingencies in
their offer. We are also in contact with
Dale Resources and they
have also offered $17,500 an acre bonus, but
Edge's offer includes to
the middle of the street and Edge
has already obtained the drill site. We are
going to initiate contact with XTO
and counter to Edge.
We are going to tell XTO
and Dale what we want and
what Edge has offered. The
below is our counter to Edge:
1. BONUS= $17,500.00 PER MINERAL ACRE, WITH
A MINIMUM OF $3000.00 PER LOT WITH BONUS
CHECKS (NOT DRAFTS) PAID WITHIN 30 DAYS OF
EXECUTION OF LEASE. THE BONUS WILL NOT BE
CONTINGENT UPON EXECUTION OF WAIVERS BY
CERTAIN HOME OWNERS.
2. PRIMARY TERM SHALL BE TWO YEARS WITH AN
OPTION TO RENEW THE LEASE FOR ONE ADDITIONAL
YEAR AT $11,000.00 PER ACRE.
3. 25% COST FREE ROYALTY.
4. WE ARE ASKING FOR A RESPONSE BY MARCH 3,
2008."
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "FEB 4, 2008 GAS LEASE UPDATE On 2-4-08, we received an offer from Dale Resources ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"GAS LEASE INFORMATION UPDATE
01.31.08-----Today, I received Edge's response to our January 7, 2007 counter-proposal. (See attached) In reviewing this response, I am sure you will agree that it is not acceptable. I will go over the response point by point. Also, Chad Mackert at Dale Resources should have a proposal to me by Friday. While I still do not think Dale is the way to go, this will help us to complete our negotiations with Edge. PROPOSED TERMS FROM EDGE: 1. Waivers: $2,000 at execution of waiver and $1,000.00 per well. At first glance, this may not seem like much. However, Edge told me today they are planning on putting in ten wells per pool. Thus, each homeowner that signs a waiver on these terms stands to earn approximately $22,000.00, after all 20 wells go in. Please remember, without these waivers, we cannot move forward with the drilling. 2. Royalty: 23%. I am concerned on whether Edge has negotiating room here. It is my understanding that the surface owner of the well site has an override provision in his agreement with Edge. Therefore, this could hamper our ability to negotiate a higher royalty payment. 3. Initial Bonus: $9,000.00 per acre with minimum of $1,800 per lot. 4. Contingent Bonus: $9,000.00 per acre with minimum of $1,800 per lot. The contingent bonus would only be paid to us upon the completion of a reserve report issued by an independent petrophysical engineering firm that concludes the proved reserves of natural gas in the mineral acres covered by the Debbie Lane Pool (north and south), which is approximately 1,000 acres, are not less than 70 billion cubic feet. First, I will not suggest we approve a split bonus. Second, the split bonus is conditioned on the existence of reserves that no one can anticipate. Also, unless my math is wrong (which is likely the case), if the Barnett Shale is estimated to be 400 feet thick and the radius of our pool is 5,280 feet, I only calculate 35 billion cubic feet in the entire pool? I'm not sure how Edge came up with this 70 billion number. Gary?? Third, if the report shows less than 70 billion cubic feet, Edge gets to continue drilling (and making money) and we don't get any portion of the additional bonus. Fourth, this split bonus requires our involvement for a considerably longer period of time (i.e., waiting to get the remaining portion of the bonus and a Debbie Lane Pool representative being involved in selecting the petrophysical engineer's report and reviewing his findings. While there are other reasons to reject this term, these appear to the most concerning. 5. Truck Route: Edge has indicated it will support a median cut on Debbie Lane to allow traffic to head back west to 287. However, I do not believe the City will approve this route. Requiring trucks to go west on Debbie as they exit, creates the opportunity for a "t-bone" with traffic heading east. While we will not all agree on the truck route, I will support the route that requires the trucks to head east on Debbie and south on Walnut Creek. As for possible damage to the streets, Edge has to post a bond with the City per city ordinance to cover the cost of such damages. 6. Noticeably absent from Edge's response is (a) a payment to the HOA's ($12,500 per) for incidental damages, (b) the Favored Nation Provision, (c) Edge's obligation to pay for the cost of a subordination agreement, (d) Edge's guaranty of title, or (e) a Truck wash or rock driveway. While I am discouraged by this response, in my opinion, Edge simply responded to our proposal and appears to be playing chess. I believe Edge will back down off of this Contingent Bonus, but we need to stay strong. I have advised Edge that we are speaking with Dale and I imagine this will force Edge to make a decision quickly."
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 1.25.08---- We have submitted an offer to Edge resources requesting a signing bonus of $18,500 per acre with a minimum of $3,500.00 per lot, 28% royalty payments, no surface rights, Edge would pay subordination fees if required, and $12,500.00 for the HOA operations fund. Edge has been asked to respond, but they have asked for a delay in their response. We are now hearing that they are contacting home owners and trying to get them to sign for a $1,290.00 signing bonus. Please be careful because it seems that Edge is trying to get everyone to sign for a cheaper amount than what the organization is negotiating. Our organization is called the Debbie Lane North Pool and consists of all the HOAs in the area of the Edge operations. Please call Pete Shryock at 817-721-8476 if you are contacted by a Landman." ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 12.20.07 "Pete Shryock met with the HOA reps from The Trails, Embers, Shannon Creek, Dover Heights, Antiquia and some independents. The HOA President from The Trails is preparing a letter for the HOA reps to sign. The letter will be sent to Edge Resources (the company that currently has the lease to drill in our immediate area) and make an offer of $18,000.00 per acre with a min of $3,500 per lot signing bonus and 28% royalty. We don't know if we will get that much, but we are initiating an offer. So far Edge has been offering $5,000 per acre signing bonus. THERE ARE CURRENTLY OVER 1000 HOMES IN THE HOAs IDENTIFIED ABOVE. PLEASE BE PATIENT. THIS MAY TAKE SOME TIME." ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "Edge Resources Title Searches and Lease Letters
On Monday, 11/19/07, Edge resources informed Pete Shryock that
they plan on finishing their title/mineral rights/royalty
searches by 11/30/07. The searches are for all areas that they
are planning on drilling in and obtaining gas leases (this
includes both the South and North drill pads). They plan on
sending out lease letters shortly after that. They agreed that
they would notify Pete prior to sending out any lease
letters/offers. They were informed that Walnut Creek North was
banding together with the other HOAs and subdivisions. Stay
Tuned for additional information
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "Pete Shryock met with HOA representatives from 'The Trails and Dover Heights' on Saturday morning. The results of the meeting were: 1) The Trails has hired an attorney for $1000.00 to review gas leases and recommend changes. They are requesting donations from the other three HOAs to assist in the payments to the attorney; 2) We are seeking $15,000.00 per acre, which would include a minimum of $3,000.00 per lot for a signing bonus; 3) We are seeking 25% to 28% royalty payments; 4) We only want to grant a 3-year lease with a the same signing bonus and royalty agreement for any subsequent lease years; 5) We are seeking $50,000.00 bonus for the four HOAs with the bonus being split between the four HOAs (12,500.00 for Walnut Creek North HOA); 6) We want to start negotating the lease during December 2007; and 7) The board representatives for the 4 Four HOAs will do the negotating, but the individual home owner is reponsible for accepting and signing their own specific lease---that means that they are free to decline to sign what the HOAs negotate if they desire. Please indicate your approval with this by emailing Pete Shryock at PBShryock@aol.com and please send any recoomendations or questions to this same email address. Additionally, Pete Shryock will contact the MGNR and let them know the results of the meeting and what we want to obtain"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Pantego-Arlington Area Citizens Lease Committee <<Download ~~~~~~~~~~~~~~~~~~~~~~~~~~~ Walnut Creek North Homeowner Wednesday November 7, 2007 the HOA will have workers coming to your home to fill the cracks in the brick wall. Please have your gate unlocked and pets put up that day. If we need to come back YOU will be charge $50 for the special trip. This is very important maintenance for the fence. Please contact Circle C
www.walnutcreeknorthhoa.com
Walnut Creek North HOA Board Members attended the 10/30/07 meeting and
will keep HOA members informed on our Circle C/HOA website. Homeowner’ meeting on November 15th, at 7:00 PM, at the JL Boren Elementary Cafeteria. This meeting is for informational purposes only regarding the leasing of mineral rights. WCN HOMEOWNER GAS LEASE UPDATE download NEWS ARTICLE download MINERAL RIGHTS download MGNR FLYER download
"NOTICE"
Edge Resources has
been sending unsolicited Lease offers and $1000.00 checks to
homeowners in The Trails, which is directly across Debbie Lane from
the proposed drill site. A $1000.00 offer would equate to only
approximately $5000.00 per acre and Dalworthington Gardens appears
to be getting approximately $15,300 per acre. It appears that Edge
Resources is attempting to get leases signed before MGNR can
negotiate a better deal. Please give this serious thought before
you sign a lease or cash a check from any Gas Drilling company."
Recently members of the HOA board and concerned HOA members attended the Mansfield City Counsel meeting to raise our concerns regarding the speeding on our streets and our request that the City Counsel ensure that the MISD complies with drainage requirments when they build the new school. The Counsel indicated that they would have the city traffic person meet with the board to discuss possible methods of curtailing the speeders. We will keep you informed. 7 p.m. the second and fourth Mondays of each month, Mansfield City Hall, 1200 E. Broad St. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Contact / 2007 Officers / Board of Directors: Contact The Board of Directors: Contact ACC Committee: Contact HOA Members:
Dues to be made out to: Walnut Creek North HOA
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