The following information and questions and answers from the May 14th General Meeting

There is a gas lease committee, including Terry White, Tom Sylvester, Dryden Boyce and Dan Hagan.  They met with Moses, Palmer & Howell, L.L.P.; local Tanglewood attorney’s that specializes in oil and gas.  There is an Engagement Letter available for all residents who want to participate in negotiations as a cohesive group.  Signed letters should be submitted to Terry White.  Currently, more than 70 people have committed to be a part of this group.  There is no official deadline, but negotiations will begin within one week.

A representative from Four Sevens was also on hand to answer questions.

Q:  What is the impact to the quality of life and environmental protection?

A:  Drilling must take place 600 ft. from residential areas, 300 ft with a high impact permit.  TCU is proving to be one of the strictest leases being negotiated. 

Q:  Will it hurt the trees in our area?

A:  The lines will be 1.5 miles below us.  There is no study that shows that our trees will be harmed.

Q:  What is the maximum size for drilling?

A:  Maximum size is 640 acres.  You can’t really do that large size in a residential area.  Residential areas are typically 140 acre unit size.

Q:  How much noise will we have in our neighborhood?

A:  Your neighborhood is 5000 feet from the drill site.  The drill site is located in the northwest parking lot south of Canty Street.  Drilling will not take place during football season.  Drilling should begin the summer of 2008.  For 4 days, the noise will be loud as they drill.  After the drilling, there will be no noise.

Q:  Where will the gas line be?

A:  Under Stadium Drive,

Q:  What will be your source for water?

A:  Water will be purchased from the city.  The underground water supply will not be impacted.

Q:  Where is Chesapeake?

A:  Chesapeake was invited.  They accepted, but called today to state that they preferred not to participate.  They have had success getting individual property owners to sign leases.

Q:  Will Four Sevens keep the leases that it gets signed?

A:  Oil companies will flip the leases if they choose.

Q:  How are the attorneys for TNA going to be paid?

A:   Through donations or membership fees.

Q:  How is the negotiation process going to be communicated to those who have signed the Engagement Letter?  Will those who have signed have any input?

A:  The goal is to band together to get the appropriate language into the lease that will provide a general benefit to the entire neighborhood.  Once they have some language, the committee will get this information back to those who have signed.  The information will also be posted on the website.  You are not committed to sign the lease if you sign the engagement letter.  Once you see the language, it is your choice whether to sign or not to sign the lease agreement.

Q:  Will any special arrangements in a lease be carried over if the oil company flips the lease?

A:  Terms of the lease should convey if sold to another company.  TCU is very pro-neighborhood.

Q:  Is there any sense of urgency?

A:  The oil companies are pressing to get this taken care of as soon as possible.  We will begin negotiations in the next few weeks.