The Friendsville Group

1/20/2010 Seismic Status and Agreement

We have ironed out the confusion over different versions of Seismic Agreements with PGS On-Shore. Apparently in the period of time where the Friendsville Group was working out the language of the Seismic Agreement, Landowners may have been provided alternate versions of PGS On-Shores' documents.

The words from PGS read more »

1/20/2010 Friendsville Group and Payment Status

The Friendsville Group Members plus Add-Ons in the Deal with Fortuna came to a total of 1384 Landowners covering 1703 parcels. Everyone who requested 2009 payment, who did not have a title problem, has been paid. Those Landowners who requested split payments or full payment in 2010, and do not read more »

1/12/2010 An Example of 3D Seismic Survey

This video shows an example of 3D Seismic Survey activity near Dimock, PA. This will give you some idea of what we can expect on our property when PGS On-Shore conducts the 3D seismic survey in the first half of 2010 for Fortuna

1/11/2010 Estimated Taxes Due

As we have said all along, the Friendsville Group does not give Legal or Financial advice. However, for those people who received payment on their Gas Lease in 2009, you have Federal and State Estimated Taxes due by this Friday, 15Jan10. Go see your Financial or Tax Adviser to determine read more »

12/21/2009 Friendsville Group Payment Status

The overall Friendsville Group Deal with Fortuna, counting add-on acres, resulted in $193M worth of Lease Signings on about 1600 parcels. Landowners requested about 24% of the total payments ($46M out of the total $193M) to be deferred out of 2009 in to 2010. Fortuna plans to pay all those landowners read more »

12/13/2009 Final Seismic Agreement and Addendum

PGS On-Shore has contacted many Members from the Friendsville Group requesting that they sign an agreement allowing property access to conduct a 3D Seismic Survey. PGS On-Shore is doing a proprietary 3D shoot for Fortuna and other gas companies in the area of the Friendsville Group. We did not like the read more »

12/7/2009 Friendsville Group Status Update

Payment Status:

Fortuna has mailed out over 275 payments to landowners so far. Except for problem leases or titles that need work to clear, Fortuna plans to have all payments made within the 90 day window from the lease signing date.

Seismic Status:

Many of you have been approached by PGS On-Shore about read more »

11/11/2009 3D Seismic

There is a 3D Seismic company called PGS On-Shore approaching landowners in the Friendsville Group Area requesting that they sign agreements to allow access to property. This effort is a speculative 3D data gathering effort by PGS On-Shore covering a 255 square mile area. Fortuna is talking with PGS and read more »

11/9/2009 Friendsville Group Update

Fortuna has provided the following Group Update:

As of 11/5/09, Fortuna has been successful in achieving its goals regarding lands leased in the Friendsville Group area and is looking forward to long-lasting relationships and opportunities in these communities. For those who have already signed Friendsville leases, payment can be expected read more »

10/18/2009 Friendsville Group Status

It has been 5 weeks since we announced the Friendsville Group Deal with Fortuna. Fortuna has signed about 25K Member acres and another 6K add-on acres for a total of 31K so far. We are in the process of getting a list of Members that Fortuna has not been able to contact so that read more »

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