1. Leasing Glenn Cochran

4.  Lease is more specific to your property  Tailor-made to your specific wants or needs

5.  Better overall terms ◦ Bonus ◦ Royalty Percentages ◦ Length of Leases  Offers more flexibility on well locations

6.  Term ◦ Primary Term ◦ Secondary Term ◦ Habendum Clause  Bonus or Delay Rental  Royalty  Pooling or Unitization ◦ Pugh Clause

7.  Shut-In Royalty  Gas Storage  Location of Wells, Roads, Etc  Force Majeure  Renewals

9.  Have the Document Reviewed by an Attorney  A Few Hundred Dollars Spent May Save You Thousands

10.  What are the lease terms? ◦ Are There Depth Restrictions? ◦ Primary Term  Are You Receiving Rentals on Time? ◦ Secondary Term (Wells Drilled and Producing)  Are You Receiving Royalty Checks? ◦ Talk With Your Current Lessee to See What They are Doing Regarding the Marcellus

11.  Major Financial Impact  Solo vs. Group Negotiations  Research  Know What You Want to See in A Lease  Get It In Writing  Review It With Your Attorney

12. Question and Answer Session After the Next Presentation Glenn D Cochran P O Box 1399 Oil City PA 16301 (814) 671-1550 gdcconsulting@verizon.net