Date 

Issues / Comments

Time

4/6/00

Office conference w/ Bill Edwards to discuss project; 
Phone & Map research; Phone conference w/ Ray Smith; 
Office conference w/ Bill Harris; Courthouse record check - Guymon; Property inspection - check  for producing / drilling operations 
 

1 Day

4/7/00

Courthouse Record Check

1 Day

4/10/00

Review notes, copies; Prepare and send title report; prepare oil and gas lease forms; Office visit w/ Edwards; Phone number / address search.
 

3 Hours

4/11/00

Office visit w/ Edwards; Attempted calls to B. Campbell, Address confirmation, Phone call with Andrews Tract owner - discuss proposal: Very receptive to idea of having a well, but has to talk to Sister.  Did not discuss terms. 

¸ Day

4/12/00

Phone and Address confirmations; Phone conference w/ Smith; Prepared and mailed offer letters. 
 

1 Day

 4/13/00

Prepared and mailed 2 O&G Leases.  Phone Conference with Edwards & Smith.  Still no luck reaching the Alabama parties - I got answering machines, (but left no messages) for Gary Anderson interest and another Anderson w/ same address.  Will try them again tonight. 
 

1 Day

 4/14/00

Prepared and mailed 7 O&G Leases.  Phone conversation with Gary Anderson.  Personal visit to his farm.  Discussed possible terms.  He has unrealistic expectations of $100 per acre for a Ú rty lease.  I told him we may be able to go $25 tops, but doubtful and it would require a 3/16 RI (subject to your approval) He insisted on knowing who the principals were - did not disclose.  Phone conference with Edwards – Will let him sit for a few weeks (Marked 4/27/00 in Day timer) then call him with reduced terms again.  Continue to pursue NE/4 on proposed terms. 
Phone conference with Smith - He concurs with strategy. 

1 Day

4/17/00

Phone call from Anderson wondering why we aren't offering him more.  He indicated he wanted 1/4 royalty and he would lease for $120 per acre.  He said our offer would not fly.  I told him we were probably too far apart to trade - 1/4 was a deal killer and the primary reason the acreage was not drilled already.  I suspect we may have to force pool his 1/3 of this quarter.  John & Betty (Brother & Sister) are much more reasonable but will probably agree to our offer but may hold out for 1/5 royalty.  Still no word from Campbell Trust. 
 

1 Hour

4/18/00

Letter from Campbell Trust – John Anderson will deal on this interest.  Phone conference w/ Edwards.  Prepared and mailed 2 O&G Leases.

1 Day