Gas Well Shares Question
Posted in the Pikeville Forum
#1 Mar 24, 2013
I bought into some gas wells and it looks like I am now going in the whole and they want to buy my shares. What are you other share owners planning to do?
#2 Mar 24, 2013
I'm hanging on to mine though if you're going
to sell you should do so before summer
mid winter is the best time to sell them
cause people use more gas then and the
price is up higher.. Gas is going to go back
up if you can hang in there with them.
I know it sucks pay taxes on them right now
#3 Mar 25, 2013
Are you talking about Nytis that took over some of Interstate's wells? I own several myself.
#4 Mar 26, 2013
Sorry I'm talking about all the wells in general
that are in this area. Such as Blue Flame,
Eastern Energy and L and B Oil and gas and
so on.. The prices are slowly going back up
but I would sell out during the winter months
right now with the spring snows your Royalty checks should be higher.. I'm holding on to mine lol I'm just suggesting if you sell them now you
won't get as much for them cause of low prices
however winter prices are better to sell out .
Seriously I am suggesting hang onto them the gas prices are going to go back up you can look it up online.
#5 Mar 26, 2013
They are not getting mine for that they offered, which was better than their first offering of zero some investors received. In the past few months, they've significantly upped their well operating costs above what Interstate was charging in an effort to persuade us to sell. It'll cost a few dollars to do it, but I'm thinking about bringing litigation to force an audit of their books on the partnerships that I'm invested in.
#6 Mar 26, 2013
I saw an attorney in the News Express news paper a few week ago that has had some experience and training in this type of suit, gas wells and mineral owners. He is a Hamilton I Think out of Pikeville.
#7 Mar 27, 2013
I sold mine. It depends on each persons experience and which particular well. In my case, I wasn't losing money, but I wasn't making a whole lot, either. In fact, I hadn't made very much the past ten years. It never paid very much due to the shares being split many diffetent ways in my family. I decided to sell. The gas company paid me more to buy it from me than it made in those 10 years. So I sold. Everyone in the family sold except my brother who thought it may pay off in the long run. You just have to look at how the gas well has done the past several years and compare it to what is being offered to you to buy it. I think I made the right choice.
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