Replies to post #8070 on Beacon Redevelopment Industrial Corp (BCND)

[jscot]

exactly

[cantgetmyname]

Any wells that are currently operating are most likely owned by someone other than the current property owner. The well owners pay a royalty to the property owner. If the land changes hands the wells are not part of the package but the royalties from those wells would be. As for future wells, if they have the rights then they can drill away.

All this is conjecture and may or may not reflect reality, the property owner may be a wildcat driller and does,in fact, own the wells, and anything can be renegotiated.

So who the heck really knows?

Anyway, worst case, this looks like a good pinky gamble to me.

[@-@]

It all depends on the terms of the deed. I was researching their Pennsylvania stuff and it looks like there was or is a gas well on that property. A "permit" was granted by the prior owners to a gas company. The "permit" specifically said it expired on transfer of the property to a new owner. I base this on what I read on Westmoreland County Recorder of Deeds website.