SCHOHARIE COUNTY — If anything seemed clear Thursday to about 300 people hearing about the natural gas speculation in the region, it was that there’s a lot to consider before signing a mineral rights lease.

“We’re investing a lot of money, and the geologists we have say there is gas here, and we believe we can get it out and make money,” said Scott Lee, local office manager for Indiana-based Mid-Central Land & Exploration Inc.

Lee, who recently opened an office in Schoharie, said the company is targeting seven townships in northern Schoharie County to negotiate with landowners to explore for commercial gas deposits.

Lee said his “landmen” are now focusing on landowners with at least 100 acres in Sharon, Seward, Richmondville, Carlisle, Cobleskill, Esperance and Schoharie.

The company is typically offering to pay $7 per acre to lease the rights to drill for gas for a five-year period and $10 per acre for the next five years. That would mean that a 100-acre lease would net the landowner a single upfront payment totaling $700 for the entire first five-year period, he said.

Royalties on any gas extracted to market would be 12.5 percent.

Lee said so far his company has about 2,200 acres leased with six landowners in Schoharie County.

Thursday’s forum was arranged by the Schoharie County Farm Bureau with the county Planning and Development Agency, the Chamber of Commerce and State University at Cobleskill officials.

“This is an informational meeting for landowners … and not a forum for the pros and cons of gas drilling,” county Farm Bureau Vice President David Huse said as he opened the presentations.

Before the forum began, Huse, a beef cattle farmer in Richmondville, said he has already been approached by Mid-Central landmen interested in leasing his property for gas exploration.

County Planning Director Alicia Terry said her office has heard that about two dozen landowners have had similar encounters.

According to forum speaker Ted Loukides, of the state Department of Environmental Conservation’s Division of Mineral Resources, no applications for gas drilling permits or exploration unit designations have yet been applied for in Schoharie County.

Jeff Decker, a Broome County landowner who this year organized a coalition of about 200 landowners in the state’s Southern Tier, suggested that landowners here organize a similar coalition to help negotiate potentially better deals.

“We are sitting on the largest find of natural gas in United States history,” Decker said, referring to the differing types of shale beds in the region spreading from West Virginia to central New York.

“I cannot sleep at night, thinking people are being taken advantage of,” he said.

According to James D. Ward, the attorney for Decker’s coalition, “my clients are getting $2,500 per acre.”

Some own 2,000 to 3,000 acres of land, Ward said.

With several companies seeking to cash in on natural gas revenue in counties just north of the Pennsylvania border, Ward said, some landowners are getting extra signing bonuses of “over $5 million” in addition to lease payments and various royalties.

Lee acknowledged that some companies may be offering higher lease payments, but he argued that the gas available in Marcellus shale, or Trenton-Black River formations 5,000 feet or so underground, are more proven than the Utica shale beds in northern Schoharie County.

“It’s a total wildcat play,” Lee said. “The entire risk is on our company … and we feel $7 is a fair price.”

Typical costs to drill a well are in the $500,000 to $1 million range, he said. “We pay for all those costs,” he said.

If gas is found, it would likely be transported to market by a pipeline, such as that of the Tennessee Gas Pipeline Co., which runs through the region.

Jeffrey Williams, deputy director of public policy for the New York Farm Bureau, stressed Thursday that landowners should consult an attorney knowledgeable in gas and oil rights before signing any leases.

“Remember, you don’t have to sign a lease if you’re not happy with it,” Williams said.

Vincent Stalis, a consulting geologist for Decker’s coalition, said when Southern Tier exploration was taking off over the past decade, initial leases were in the $3 to $5 range in areas where offers are now up to $2,500 per acre.

“Is the potential for Utica shale the same as Marcellus? Only time will tell,” Stalis said.

Both the DEC (www.dec.ny.gov/energy/1532.html) and Farm Bureau (www.nyfb.org) Web sites offer guidelines, information and cautions for landowners considering gas and oil rights.