Ross Downs Home Owners Association. A residential community in Colleyville, Texas

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Gas Lease Information

Look here for information relating to gas lease news in the area. Links and documents will be added to the site as they become available, so check here often.

This Space is has been made available to the independent, volunteer group called the “Pool Road Coalition “ (PRC) for the sole purpose of providing information to interested residents of Ross Downs and other HOA’s regarding gas leasing issues.

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Activity Journal

A NEGOTIATIONS UPDATE

July 9th 2008 - Time for more exciting news and the latest with negotiations. First, you have read the White Chapel Corridor in Southlake made their official announcement, signing with Chesapeake for $22,500/acre and 25% royalty.

The next announcement you will hear about anytime will be Timarron. AGAIN this is GREAT NEWS for our CAMRA/PRC members. With these two Coalitions completing their efforts, this has set our base!

So the answer to the question you are all asking is this.

We will select our Partner by the end of July.

Our potential Partners have been focusing much of their efforts in our area on three (3) Coalitions. As I have reported two (2) of those have now been finalized and there is only one left from that original three (3) CAMRA. Many of you have asked your Leadership Team representative why the CAMRA negotiations seems to be taking longer and why have some other Coalitions finished in a little less time. Great questions. The reasons are many but the answer is simple….CAMRA’s “value proposition”….. what we bring to the table, is unmatched by any other Coalition in an urban drilling environment. Other Coalition’s like Timarron, White Chapel Corridor or Hidden Lakes can ONLY offer size, some amount of acreage, and unity, do I have all the homeowners, and is the land spread out or condensed, to an Energy Company.

If you want the best terms and conditions, along with the best bonus, royalty and primary terms you must offer more than size and unity. CAMRA offers more than size and unity. The top six (6) value proposition items we offer besides having a large size and strong unity are:

Two (2) NEW well sites
The ability to provide coverage of our own CAMRA properties
New coverage areas beyond CAMRA’s “footprint”. This offers new opportunities to an Energy Company
Mitigation of “risk” during the permitting process
The potential elimination of two (2) high impact/risk areas.
A “One Stop Shop” for our selected Partner

What this requires is a little more due diligence at the negotiations table. That means a few more “balls” in the air and a little more time. So what does this mean? The result to our coalition is more favorable terms and considerations. Our goal is a “Win – Win” with our new Partner. We will step away at the end of the day and both sides will feel good about what we have achieved.

The CAMRA coalition is high visibility and offers a significant “WIN” for one of our potential Partners. We all recognize that the value to our new Partner is what we bring as “ONE” strong unified TEAM! Some of you may still be receiving a request to break off and sign up with a separate lease by someone. I will remind everyone, that will not be the lease with our terms that we are negotiating for. We are coming down to the finish line and are all going to win TOGETHER! When we have made our selection we will make a public announcement and tell everyone when & where signing parties will be.

If you have any questions please reach out to your Leadership Team or you may drop me an e-mail.

Regards……………….Grady Walker

Another one will fall and the bar will move up!

A NEGOTIATIONS UPDATE

July 1, 2008 - I want to catch everyone up with our negotiations and what else is happening in the area. Let me start with the area. The White Chapel Corridor coalition in Southlake has been working hard to finish their contracts with their potential Partners. After a number of review and revisions of their gas lease, they were able to get fairly close on their contract Term’s and Condition’s. From there they scheduled conference calls between each of the potential Partners, their negotiation Team and Attorney. This past Thursday and Friday their negotiation Team along with their attorney were on conference calls working through the finer points and details. From there they requested a “best and final” offer on the “contract terms” along with the “business terms”, which include bonus and royalty. The “best and final” were presented to White Chapel Corridor Group Monday (June 30) afternoon at 5PM. Their Attorney at that point proceeded to review the two offers and generate a comparison and assessment. The results were given back to their negotiation team for review and consideration. In so doing they will select a Partner and make an announcement. At that time it is my expectation that our “bar” will move up again a little more. Great news for CAMRA. As a note, the White Chapel Corridor coalition signed with Chesapeake for $22,500 per acre and a 25% royalty.

I wanted to share those details with all of you so that you understand what must occur to bring this process to a head and a final conclusion. Our Negotiation Team met this past week and worked through some critical areas. Immediately following that session our CAMRA Leaders, for all of our HOA’s and Geographical groups met and were updated on the current lease revision by our legal counsel. We discussed every item within the contract and questions were asked and answered. The Negotiation Team met again this past Saturday morning for ~ 3hours. All day Monday, 30 June, was spent with a well site engineer at the new well sites that are part of the CAMRA value proposition. One of the goals of this meeting was the reduction or elimination of the “setback” concerns. It was a very productive meeting.

We are approaching the July 4th weekend and are attempting to work around individual’s vacation schedules. We are driving forward and chipping away at the small number of details that are still outstanding.

The CAMRA coalition is high visibility and offers a significant “WIN” for one of our potential Partners. We are offering more than any other Coalition you have read about in the area. We all recognize that the value to our new Partner is what we bring as “ONE” strong unified TEAM! Some of you may still be receiving request to break off and sign up with a separate lease by someone. I will remind everyone, that this will not be the lease we are negotiating for. They will attempt to have you sign away all of your protections for a few more dollars. We have heard of individuals asking homeowners, business’s and HOA’s to sign up. In some cases there isn’t even well coverage. You should not see any potential Partner contact you but you might have another individual asking you to for some other reason. If you are contacted by anyone I need for you to let me know. We are coming down to the finish line and we are all going to win TOGETHER!

If you have any questions please reach out to your Leadership Team or you may drop me an e-mail.

Regards

Grady Walker

Read the "fine Print"!!!

A Negotiatons UPDATE from CAMRA

June 24th 2008 - So where are we at? Have we picked a Partner? We have all heard the warnings. “READ THE FINE PRINT!” We are in the “Fine Print”. I hear from HOA Presidents, CAMRA Leaders and individual homeowners on a daily basis. Their number one concern? The “Fine Print”. All the “devils and details” that help us all sleep better at night knowing for example that our new Partner is well insured, and is agreeing to “not travel upon or use in any way or manner (including the parking of any vehicles) any of the inner-residential streets” …”of a subdivision or neighborhood”…”except in an emergency situation and only for the duration of said emergency. ” These are why it takes time to negotiate the best terms we can for all of our homeowners.

There is a misconception that all contracts are pretty standard with only minor tweaks and the real difference is the Bonus and Royalty. The reality is the Bonus and Royalty are only 2 of ~40 “Items” that contain ~75 separate “Details” that all have to be addressed and/or negotiated. Are the Bonus and Royalty important? ABSOLUTELY! But are they the most important items as expressed by our CAMRA homeowners? Not according to CAMRA homeowners. You can now better understand why “ALL CONTRACTS ARE NOT CREATED EQUAL.”

This also is where we start to see differences between our potential Partners. Not just in the contract but in the negotiation process. As we move through the negotiation process not only do we learn about our potential Partners but they learn about us. Are the Companies responsive to your request? Do they meet deadlines? Do they return phone calls? How the Companies work with you when you are negotiating can be a clear indicator how they will work with you when they are selected as your Partner or if they are NOT selected as your Partner.

We have all read or heard stories about what can happen to Coalitions and their homeowners when a Partner is selected and announced. For the selected Partner plans are made for signing parties and a time to celebrate. In some cases we have read and heard where a Company who was not selected immediately reached out to homeowners asking them to now sign “their” lease and they will give them a little more Bonus money. And yes there are homeowners that quickly forget “ALL CONTRACTS ARE NOT CREATED EQUAL”. Remember, the contract is the reason it took the time it did to negotiate the deal. The homeowner did not understand that by taking a different contract could weaken many or all of the protections they and their neighbors worked hard to get.

We are working to lockdown our Term’s and Condition’s and will be reviewing and generating our response to the most recent contract revision tonight. We will also be updating the Leadership Team this evening so they are current.

It is important that our homeowners understand what our potential Partners are negotiating for and what they see. In our meetings with each Company we presented to them CAMRA and its “Value Proposition”. I also want each homeowner to see what our potential Partner sees by sharing a map of the CAMRA “footprint” and what we are bringing to the negotiation table. On our website listing you will find a file labeled “CAMRA Map – June 24.pdf”. This map does not reflect the most recent updates but is current. Please note that properties in “pink” are under lease with Dale/Chesapeake, in “red” with Colt/XTO and in “blue” with DDJET (Harding/Petrocasa). CAMRA is indicated in "yellow" although some areas appear slightly "green". The identifications are not meant to be all inclusive and do not reflect all of the properties and their current status. We only focused on the properties and areas that most directly affected CAMRA. Please spend a little time viewing and reviewing CAMRA and our Potential Partners well site locations. Pay attention to coverage areas, the contiguous areas and location of CAMRA with respect to well site locations. The value we bring is before your eyes.

As you can now clearly see we have much more to offer which separates us from the general Coalitions you have seen written up in local papers. Our potential Partners see this and recognize the value we bring. We are working hard for you and now you better understand why patience will yield value.

Regards

Grady Walker, Spokesman for CAMRA

The Bar Is Moving

Negotiations UPDATE from CAMRA
June 17th 2008 - I wanted to pass on some good news for our CAMRA/PRC members. The Hidden Lakes homeowners and Hidden Lakes Coalition Members have finalized their lease negotiations and selected XTO. The Hidden Lakes folks are located approximately at Davis and Continental on the West side going North and Westerly. They are a little smaller than CAMRA also with a strong unity and contiguous property as their "Value Proposition". They had 2 excellent Partners that were negotiating for their selection.

In a statement by Deborah Gatzke the Secretary for Hidden Lakes, she is pleased to announce the following terms:

$20,000 per net mineral acre
25% royalty (non-affiliated 3rd party expenses deducted)
3-year primary term lease with an option for XTO to extend the lease for two years, paying an additional $20,000 per net mineral acre.

Deborah indicated that well sites to provide coverage for the Coalition have yet to be finalized or identified. "We will report their exact locations when they are finalized, which is expected very soon."

We wish them the best and appreciate all they have done. Although there are similarities in our coalitions size and unity, that is where it stops. The "Value Proposition" that CAMRA brings to the negotiation table is strong and extensive." Here are the key points:

Providing 2 new well site leases
Providing new well site coverage neither Energy company has
Size
Unity/contiguous
Creates a "One Stop Shop" for the chosen Partner
Number of well sites with coverage to CAMRA properties (11 non-CAMRA)
Location (proximity of well sites to CAMRA property) (coverage)
Ability to eliminate 2 high impact areas
Able to mitigate permitting "risk" of initial well site (Colleyville)
Creates "big win" and "high visibility" position

We have much more to offer which separates us from the general coalitions you have seen written up in local papers. Our potential Partners see this and recognize the value we bring. As we have entered into our negotiation process our neighbors at Hidden Lakes have reset the bar for us and we appreciate that. We will start where they have left off. We are coming to the end and will cross the finish line soon. We need for everyone to be patient and allow our process to work. As we continue to move forward I will keep everyone as up to date as possible.

Thank you for your patience and support.

Regards

Grady Walker, Spokesman

NEGOTIATIONS UPDATE TO OUR PRC/CAMRA MEMBERS
June 7th 2008 - The coalition group wants to provide an update on negotiations, the organization and what we need from our members. We want everyone understand how the process works and what to expect and what not to expect.

The process in its simplest form is this. Our HOA, Group Leaders and Volunteer Recruiters helped build CAMRA into a large block of properties/land that can be reached by 3 Energy companies using 11 different well sites today. No one well site can cover all of PRC/CAMRA so choosing a Partner that has multiple well sites and can provide the best coverage for all our homeowners is important.

When our size and “value” to the Energy companies reached its strongest level it was time to move forward. After researching legal options we retained counsel. Our legal firm has been in business for 28 years, with over 100 attorneys and is located in 3 Texas cities. Our attorney is experienced with over 17 years in contracts, litigation and dispute resolution, specific to oil and gas in Texas. He has negotiated significant oil and gas leases in the Barnett Shale gas play, including representing several subdivisions, homeowner groups and commercial properties in this immediate area.

We started work on our lease agreement and this has been worked on and reviewed by our Leadership Team and research group of which contains oil and gas attorney’s, a petroleum engineer, contract negotiator’s and our legal counsel. This process started May 8th; a review meeting occurred on May 14th and our lease was finalized on May 26th. On May 27th the PRC/CAMRA gas lease was submitted to XTO/Colt and Chesapeake/Dale for review. We received our first response to the lease from one company on June 3rd and the other on June 5th. We are negotiating for the general terms and conditions and NOT any business terms at this time. We are working on the details as it pertains to homeowner protections and considerations in the areas of pooling, how the land is developed, environmentals, how we can add extra traffic protection, landscaping, added noise protection, royalty considerations, subordination and groundwater protection to name only a few of the 40 separate items.

The negotiation Team, along with our attorney met Thursday June 5th for a 5 hour meeting which ended after midnight, as we reviewed the leases received back from our potential Partners. We are now generating a response and will submit a counter proposal. We have meetings scheduled with both companies the week of June 9th. When we have reached an initial level of understanding for the general terms and conditions we will then address the business terms, which include the Primary Term and option considerations, royalty rate, signing bonus and any other considerations.

I have been asked to help our homeowners understand what PRC/CAMRA is looking for in business terms. I cannot be specific but I can say this. Both potential Partners have stated they see the value in what PRC/CAMRA has built and want all of the properties and “value” PRC/CAMRA brings to the table. Our “footprint” will allow either Partner to fully develop their well sites as a result saving time and money and decreasing the time to production. The current signing bonus rate is for a single homeowner’s property, which in most cases is a ¼ - ½ acre lot. It should be clear that with “value” there comes a price. We will be offering the winning Partner ~2,400+ acres with a much higher “value proposition” than has been seen or reported by other Coalitions in the news. We will work through this process until we come to some level of agreement on the business terms in conjunction with the general terms and conditions. At this point our negotiation Team will review and determine the winning Partner. We will then finalize any fine points in the lease and the winner will be announced and a formal endorsement made.

We believe the lease will be final soon, but as always, there is the potential that the timeline will be slightly extended given the nature and complexity of lease negotiations. Remember we are dealing with 3 negotiation and legal Teams. As you can appreciate there is much work and effort that must occur on a daily basis as we negotiate in the best interest of all of our homeowners. Details and considerations can change on a daily basis. We will make every effort to keep everyone updated with significant news. In the meantime, please remain patient and pass this information to your neighborhoods that may not be checking their email or websites.

WE WANT TO REMIND OUR MEMBERS CAMRA HAS NOT ENDORSED ANY LEASE OR ENERGY COMPANY AT THIS TIME. We ask our members to be patient and wait until our process and negotiations are completed. At that time we will let everyone know we have negotiated our lease and what the final terms are. Only then will signing parties be scheduled and you will sign your own gas lease. We are coming to the end of our journey soon and I want to remind everyone that we are unified, well organized and in an excellent position to negotiate the best single lease for all our homeowners. Please reach out to your Leadership Team if you have any questions.
Regards,
Grady Walker, Spokesman for CAMRA
Michael T. Muhm, Spokesman for PRC

May 24, 2008
IMPORTANT NOTICE --- NO ENDORSEMENT HAS YET BEEN MADE
XTO MAKES HARD PUSH TO SIGN HOMEOWNERS!

The PRC and CAMRA has just received word that Colt/XTO has sent out a mass mailing to residents in our area in hopes of convincing our homeowners to sign with Colt/XTO. Home owners are being presented with a basic standard energy company gas lease and a minimal bonus amount.

WE WANT TO REMIND OUR MEMBERS AND POTENTIAL MEMBERS THAT CAMRA AND THE PRC HAS NOT ENDORSED ANY LEASE OR ENERGY COMPANY AT THIS TIME.

The PRC and CAMRA groups ask property owners to be patient and wait until our process and negotiations are completed. At that time we will let everyone know we have negotiated our contract and what the final terms of our contract are. Only then will signing parties be scheduled and you will sign your own gas lease. As you will remember, these actions are not the first time an energy company has attempted to confuse and fracture the solidarity of our collations.

I want to remind everyone that we are unified, well organized and in an excellent position to negotiate the best single lease for all our homeowners. Stay strong, unified and focused on the finish line. Then we will all meet in the winners circle!

UPDATE---Pool Road Coalition--UPDATE
PRC joins with CAMRA in lease agreement discussions
Colleyville, Texas May 21 2008 - The Pool Road Coalition’s (PRC) leadership committee has agreed to join forces with CAMRA (Colleyville Area Mineral Rights Association) to obtain the best possible gas lease agreement for its participants. Michael Muhm, PRC spokesman said “We are excited to join the CAMRA folks and feel this move will help obtain the best possible terms for our participants. The CAMRA leadership group has been a leading coalition whose goals are aligned with the PRC’s. Both leadership groups have worked extremely hard during the past three months and joining together creates real synergy, enhancing the opportunities for all.”

The PRC comprises over 950 property owners and encompasses approximately 550 acres in northeast Colleyville and southwest Grapevine. Its participants are primarily residents of homeowner associations and include: Carriage Glen, Glenhope Circle, Heritage Colony, Highland Meadows, Longwood, Oak Creek Estates, Ross Downs Estates and several larger tracts of land.

CAMRA presently represents over 1,200 acres with sixteen homeowners associations in four geographical neighborhood groups and a small number of special members. CAMRA spokesman Grady Walker said of the group, “We are unified, well organized and in a position to negotiate the best single lease for all our homeowners.”

The combined group will be about 2,000 acres with over 2,000 homeowners making it the largest, most unified group in northeast Tarrant County. The contiguous group can be reached by at least eleven 11 well sites and presents a “winner take all” opportunity for the gas company who receives the group’s endorsement. Currently, the group is negotiating with Chesapeake and XTO and hopes to make an endorsement and formal announcement within the next several weeks.

For more information and to stay up-to-date regarding the Pool Road Coalition (PRC), please go to www.rossdowns.com/gaslease.php

For more information and to stay up-to-date regarding the Colleyville Area Mineral Rights Association (CAMRA), please go to www.camra76034.zoomshare.com

PRC in final stage of lease agreement discussions
Colleyville, Texas May 19, 2008 - The Pool Road Coalition (PRC) is in the final stage of evaluating the gas lease agreement opportunity and expects to be making an endorsement for the participants of the PRC in the very near future. Hopefully there will be a formal announcement within the next 1-2 weeks; before the end of May.

As of right now the PRC wants to make sure folks know the group has NOT made ANY recommendation and does NOT endorse any company at this time. We have NOT endorsed any lease signing meetings in the area and once the PRC reaches a recommendation, they will clearly communicate that to everyone in several ways: through the website (rossdowns.com/gaslease.php), neighborhood signs, flyer in the mail and some door-to-door.

The PRC continues to encourage interested property owners to complete and return the Non-Binding Letters of Intent form they received as evidence of their interest in being a participant in the group. The form can be found on the website. While the PRC is not telling folks what they must do and are free to act on their own, clearly it will be much more beneficial to all when an endorsement for the group is made.

PRC holds community meeting on April 29th and continues lease agreement discussions with two gas companies
Colleyville, Texas April 30, 2008 - The Pool Road Coalition (PRC) held a community-wide meeting for participating property owners starting at 7:00 pm. Over 300 people filled the Highland Meadows Christian Church and listened to presentations from Dale Resources/Chesapeake and Colt Exploration/XTO. Following the presentations was a Q&A that lasted until 10:00 pm where residents asked additional questions and voiced any concerns.

“We are currently at the important stage of evaluating and comparing the advantages, benefits and attributes of each competing company. We would like to finish this process before the end of May; however, we want to get the best all-around deal for participants, based on all the terms and conditions. These companies’ represent the best of the best drilling in the Barnet Shale play and both are good candidates for our consideration. We know our location is very desirable and both companies have several drill sites able to reach our area”, remarked PRC spokesman Michael Muhm.

PRC member & Attorney Doug Williams commented, “We have just selected attorney Mark Nastri of Munch Hardt to represent us. He will create a strong, effective lease agreement and help with negotiations as we look to conclude the process to endorse a gas company and lease agreement.”
The PRC wants to make sure folks know the group has NOT made ANY recommendation and does NOT endorse any company at this time. Furthermore, we ask property owners NOT to sign a lease agreement now but to wait until our process is completed, hopefully within the next several weeks. We have NOT endorsed any lease signing meetings in the area. Once the PRC reaches a recommendation, we will clearly communicate that to everyone in several ways: through the website (rossdowns.com/gaslease.php), neighborhood signs, flyer in the mail and some door-to-door. “You will clearly know when we have reached a recommendation and who we have endorsed”, remarked Mr. Muhm.

The PRC continues to encourage property owners to complete and return the Non-Binding Letters of Intent form they received as evidence of their interest in being a participant in the group”. The form can be found on the website. While the PRC is not telling folks what they must do and are free to act on their own, clearly it is much more beneficial to all when negotiating as part of a larger group.

PRC receives improved lease agreements from two gas companies
Colleyville, Texas April 17, 2008 - The Pool Road Coalition (PRC) has just received upgraded offers from two of the gas companies we are working with. Agents representing Chesapeake and XTO have presented us with improved lease agreement terms for the group’s participants. Both companies have excellent reputations and we are looking at the “complete package”.

“The two most recent offers represent a big improvement from those we had only 10 days ago and are certainly a good step in the right direction”, remarked PRC spokesman Michael Muhm. “We know our location is very desirable for a gas company wanting to secure gas mineral rights. It is our continued belief there is strength in numbers……and we got ‘em”. The solidarity of our participants is very strong. PRC member & Attorney Doug Williams said, “We continue to encourage residents to complete and return the Non-Binding Letters of Intent form they received as evidence of their interest in being a participant in the group”. The form can be found on the website.

This morning’s Star-Telegram had an article about an offer of $17,000 per mineral acre from Dale/Chesapeake to property owners in Colleyville and Southlake. However, today, Colt/XTO presented the PRC with an offer that is 10% higher or $18,500 per mineral acre. These offers are a result of ours and other area group’s efforts to obtain advantageous lease agreement for participants. We believe that while these offers are “very interesting” and warrant close review, the leadership group does NOT endorse or recommend the latest offer from either Dale/Chesapeake or Colt/XTO. We are now comparing the offers and believe the entirety of the lease agreement is important. These aspects include bonus payments, royalty percentage, terms, options, drill sites, environmental, transportation and other very specific portions of the agreements.

The PRC now comprises over 950 property owners and encompasses approximately 500 acres in northeast Colleyville and southwest Grapevine. The area is bordered by Pool Road, Hall Johnson Road, and State Highway 26/Colleyville Boulevard. The participating homeowner associations include: Carriage Glen, Glenhope Circle, Heritage Colony, Highland Meadows, Longwood, Oak Creek Estates, Ross Downs Estates and a couple of larger tracts of land.

April 3rd PRESS RELEASE
Colleyville area HOA’s organize to negotiate lease agreement with gas companies
Colleyville, Texas April 3, 2008 - Homeowner associations in northeast Colleyville are banding together to negotiate the leasing for their residents for oil and gas mineral rights with interested companies. Operating under the name Pool Road Coalition (PRC), the neighborhoods are working as a unified group to ensure optimum returns on any drilling rights to their residential properties.

The PRC is comprised of more than 900 residents, encompassing approximately 450 acres in northeast Colleyville and southwest Grapevine. The area is bordered by Pool Road, Hall Johnson Road, and State Highway 26/Colleyville Boulevard.

Participating homeowner associations include: Carriage Glen, Heritage Colony, Highland Meadows, Longwood, and Ross Downs Estates.
“Our coalition is working together to attain a much better lease agreement regarding bonus payments, royalty percentages and other important lease terms for participants than they might expect if they negotiated on an individual basis. Certainly residents can negotiate on their own independently of the group, but as we’ve seen in other areas, resident coalitions routinely get the best deals. We encourage residents within the group of HOA’s to sign-up and become a participant. This will allow the leadership group to negotiate from a very strong position of strength, based on the large number of participants”. The precedent is pretty clear that there is strength in numbers,” remarked PRC spokesman Michael Muhm.

The PRC currently is in the early stages of negotiations with two gas companies and is working quickly to develop and negotiate lease agreements that can benefit all of the participating homeowners.

March 16, 2008 -- Gas Lease Update
Ross Downs recently formed a small group of community volunteers to look into negotiating and communicating for the residents. As of today, that group has met with our “next door neighbors”, the adjacent HOA’s of Highland Meadows, Longwood, and several others to form a larger group that could encompass over 900 homeowners and more than 500 acres to improve the offers and terms we have received to-date.
Discussion and planning continuing and the group will have weekly meeting to move forward. Currently, the early bonus offers (per acre) have been $7,000 by XTO and $8,000 by Chesapeake – and this is expected to go higher, especially when encompassing a much larger group.

Follow-up to the Gas Lease HOA meeting held Thursday Feb 28th
Wow!! What a turnout!!! We had about 250 people attend the meeting last night to hear presentations from two companies soliciting Ross Downs residents, Dale Resources and Colt Exploration. They each gave a 40 minute presentation and answered questions from the audience. We had a great discussion afterwards with the residents. The consensus we loudly heard was it would be best for us to "band together" in this endeavor, as clearly there is strength in numbers when negotiating for the best lease payments and terms. All participants would benefit from this.

While we are not advising anyone to not sign any lease agreement, clearly there are beneficial reasons to negotiate with the companies as a single, larger block instead of on your own.

The next immediate step will be to form a group/committee to represent the group of participants and pursue this matter further, hopefully within the next 5-10 days. This committee would be involved in doing this for residents who choose to participate; those signing on their own or not wanting to sign would not be a part of the group. We are early on in the process but are moving very quickly.....

There are many things that will need to be determined, discussed and communicated. We will need to obtain legal counsel on this as the issue is complex and having a professions with expertise in specifically dealing with the issue is imperative. We will explore options for residents which may include "banding together" with other Colleyville HOA's to possibly effect better terms for an even larger group. Again, we are early in this process but are moving quickly for the best interests of the residents.

Please use this website as a communication devise, as we will be putting information and notices on this for timely news. We will continue to use the small signs placed throughout the neighborhood to announce meeting. We encourage you to take as active role in this process as you feel is necessary. At some point we anticipate asking residents interested in joining the "group" to formally make that intention known.