GRNA Glade Road Neighborhood Alliance

GRNA members,

Many GRNA members have contacted us regarding a recent offer letter from The Caffey Group. This offer appears to be the same as the one we reviewed last fall. $3000 per mineral acre signing bonus ($400 - $750 per lot) 5 year term (most other offers have been for 3 years) 20% royalty (most other offers have been for 25%)

The GRNA committee believes that is offer represents a "buy cheap and hold strategy" from Caffey. As such we do not endorse this offer. Of course, each homeowner needs to make the best decision they can for themselves based on their unique circumstances. There is certainly great potential that we will collectively improve on this offer. As activities begin to ramp up in the future, we will seek to engage this group through the website and perhaps another meeting. The message below is an excerpt from the North Hurst Coalition which is in regular communication with the GRNA.

The North Hurst Coalition has informed the Caffey Group that this is an inadequate offer and the nh-c.org leaders recommend that you ignore this offer. The Caffey Group will not say if a possible drilling site has been located that would affect Hurst property owners north of Mid Cites Blvd. We do not think they have and that they are just trying to lock you up for 5 years so they can re-sell your mineral rights to a drilling company should a well actually be drilled in our area. If you sign and a better offer is made during that 5-year period you will not be able to take advantage of it. Even if you do not sign a mineral rights lease agreement you will probably still be included in the drilling pool should drilling be done under your property. The only difference is that you would not get the small signing bonus but your royalty terms could be better.

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May 2010 Newsletter

Below is a copy of our May 27, 2010 email to our subscribed members