Replies to post #29171 on Hemi Energy Group Inc. (fka HMGP)

[moneymogul2b]

The tx/cn has had it on several times. This is big news in the Fort Worth area now. It boggles the mind. I believe Keith got some of the leases in the nick of time, as I have heard there are practically none to be had now.

[REAZO]

Nice post kels. I believe you addressed another recent question on the board, why didn't a larger company just outbid hemi? My guess is that one major reason for them to relocate to FTW could have been that they acquired these leases early on at a very attractive price, likely before the move. 2006 and early 2007 saw very little activity (at least publicly)in the FTW area about drilling and leases. It is only now, and as early as mid 2007 that most neighborhoods have even been approached about leasing. In fact, ours is still pending even though some rigs are popping up fairly close by. I'm not sure of the dynamics of how an area begins development, but I believe hemi got some good acres early

I do not have much experience with lease prices, but do know that the lease amounts seem to be MUCH higher now than they did even 8 months ago. I have several friends living in different areas around FTW that have neighborhood leases, and the amounts now seem RIDICULOUSLY high compared to those that were first approached.