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Information meeting for landowners planned

September 30, 2012
By LARRY SHIELDS - Staff Writer (lshields@salemnews.net) , Salem News

LEETONIA - There will be an informational meeting for landowners in the Leetonia and Washingtonville areas at 1 p.m. Oct. 13 in the Leetonia High School.

It will be sponsored by Leetonia Shale, LLC, and Terry May, president of the company, said landowners with small and very small parcels are being sought.

The company is pooling smaller parcels to make them more attractive to oil and gas companies to lease the mineral rights.

So far Leetonia Shale, LLC has signed up more than 1,000 acres between Leetonia and Washingtonville and two informational meetings on Aug. 11 obtained contact information for more than 158 people. May had estimated there are about 1,400 unleased acres in the area and emphasized the need for small-parcel owners to sign up.

"Any little parcel they have," May said. "What we're wanting are the small parcels. A lot of people don't know we're looking for small parcels."

The largest tracts that Leetonia Shale has signed up are 80 to over 100 acres. The village of Washingtonville has also signed up.

After reviewing the area maps, May said there are still a lot of small parcels out there. "They're all over town. We've got a lot of it but there's still a lot missing," he said, explaining about half of the village is signed up.

May was happy with the turnout for the first meetings.

Leetonia Shale is represented by Scullin and Cunning the Boardman.

In August, the firm discussed the leasing process and the pros and cons while noting there is no deadline to sign up.

Attorney Sean Scullin said it would take a "substantial" amount of acreage to get the attention of oil and gas companies.

"About 500 acres," he said adding, "the thing is, they're not going to lease individually" and he noted some companies won't take under five acres.

May said, "I want to get enough people interested. My goal is to get everybody in town signed up because every time they've tried (to sign up) they wouldn't take them because the didn't have enough land."

For more information, call 330-921-9839.

 
 

 

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