3/18/07

UWNA Gas and Oil Committee

"This excerpt is taken from Yahoo's UWNA Groups"

The oil and gas committee met on Thursday (3/1/07) with Chesapeake and directors of Colonial Country Club. Chesapeake has purchased 8 acres off of Rogers Rd. on the other side of the Trinity River. They also have purchased an additional site further west along the railroad yard. They propose to drill 8 horizontal well sunder the river and under Colonial and into our neighborhood. Colonial and Chesapeake have drafted a lease and are ready to sign, if they have not signed already.The oil and gas committee met with TCU representatives on Wednesday (3/7/07) and several other neighborhood associations. TCU has signed a letter of intent with Four Sevens. TCU has no formal commitment to drill at this time but is moving forward to work through various issues. TCU representatives wanted the neighborhoods to know that they want to preserve the quality of life of the area. They have asked each Neighborhood Association to present list of concerns from their homeowners. UWNA oil and gas committee needs your input. If you have any questions or specific concerns that could be passed on to either company, please contact Mike Cook or write your concerns and place in "drop box"on David McGuill's front porch (corner of Boyd and Park Hill). Please submit any concerns by Sunday, March 18th. The offerings from both of these companies have drastically improved over the last couple of months. Both companies want to lease your minerals and pay you a bonus. The big question is which company will actually produce gas from under your property and get you the biggest royalty income for years to come. For most it will not be a lot but you need to make an informed decision. The oil and gas committee is working for you. We will eventually make a recommendation on what company to sign with. It will then be your decision to make a choice.The UWNA oil and gas committee is working hard for your interests.Don't sign yet, don't make a mistake.Don't be in any hurry- we want to do this right!

Paul McKinney
UWNA Chairman

Mike Cook
Chairman UWNA Oil and Gas Committee

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