1/13/12
NOTE:  Crime Alert on News, News, News page.

Hello Neighbors,

For those unable to attend last Monday night's OSNA general meeting, here is a brief recap:

First, please correct the website address reported for Nancy Farrar in the newsletter. It should be communityrelations@wedgwoodgas.com

Also, the date for the OSNA cleanup of Hildring Street has been changed to Sunday, January 15^th at 10:00 AM, weather permitting. I realize this may conflict with church commitments for many, but it is the best time available. Please contact Dave Foster if you can attend at 817-294-2643 or dflfosu62@sbcglobal.net

Vantage energy has sent their lease holders a check for “Shut In” royalties. This is a specific requirement of our leases that requires a onetime royalty payment if wells capable of producing are closed off after 90 days with no activity. The payment is $100,000 for each of the three drilling units. To calculate your share, divide your home lease acreage by the total acreage of the unit and multiply by 100,000. OSNA is in two production units, Southcliff North (697.0353 acres) and Southcliff West (698.5624 acres). The letter enclosed with your payment specifies which unit you are in.

Nancy Farrar, the Community Relations Representative for Vantage Energy, was our guest speaker and explained that our leases are in force due to Vantage drilling into and establishing our drilling units. Gas production can not start until a pipeline is completed to send the gas to market and construction should start toward the end of this year. Before royalties can be paid, you will receive a “Division Order” from Vantage for each well drilled into your unit. You will need to sign before payments can be made. Nancy also stated that Vantage will be drilling more wells into each of the units in the future and there could be as many as 13 wells into each unit. Unfortunately, the current market price for natural gas is low and new production from all gas companies has slowed from the Barnett Shale.

Helen Talbot has volunteered to set up a Traffic Committee for OSNA. This committee can work closely with our city council representative to highlight and hopefully solve some of the traffic issues in our area. If you wish to join this committee or have an issue that you would like brought to the attention of this committee, please contact us at our email site (overtonsouthna@gmail.com) and we will put you in touch with Helen.

And just a reminder, dues for 2012 are now due. It is only $25.00 and can be mailed to OSNA, PO Box 16188, Fort Worth, TX, 76162.

Thanks for being a member of OSNA. As always, if you have any questions, please contact us.